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After Hamas attacked Israel in October, igniting the Gaza war, Israeli leaders described the group’s most senior official in the territory, Yahya Sinwar, as a “dead man walking.” Considering him an architect of the raid, Israel has portrayed Mr. Sinwar’s assassination as a major goal of its devastating counterattack. Seven months later, Mr. Sinwar’s survival is emblematic of the failures of Israel’s war, which has ravaged much of Gaza but left Hamas’s top leadership largely intact and failed to free most of the captives taken during the October attack. Even as Israeli officials seek his killing, they have been forced to negotiate with him, albeit indirectly, to free the remaining hostages. Mr. Sinwar has emerged not only as a strong-willed commander but as a shrewd negotiator who has staved off an Israeli battlefield victory while engaging Israeli envoys at the negotiating table, according to officials from Hamas, Israel and the United States. Some spoke on the condition of anonymity to discuss sensitive intelligence assessments of Mr. Sinwar and diplomatic negotiations.

Persons: Yahya Sinwar, Sinwar’s, Sinwar, Sinwar — Locations: Israel, Gaza, United States, Egypt, Qatar

☆ Forget Recession, New York City Is Entering a Wild New Gilded Age
▼ + stars: | 2024-04-04 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

In a country roiled by recession worries, those at the top of New York City — for better or worse — couldn't give a single gilded shit. For New York City, a brush with death called for a time of decadence. "New York City's restaurants and bars are experiencing an uneven pandemic recovery nearly four years after COVID-19 struck our city," Andrew Rigie, the executive director of the New York City Hospitality Alliance, said. AdvertisementIf a pandemic can't defeat New York City, a little inflation certainly isn't going to do it. And what that looks like is the affluent in New York City eating caviar, and poorer Americans eating cereal.

Persons: Steve Jobs, it's, Jennifer Saesue, Saesue, Fish Cheeks, Z, bistros, James Murphy, us Carbone, Casas — Cruz, Cipriani, Jean, Georges Vongerichten, Bongo, Andrew Rigie, Corey Mintz, we're, WK Kellogg, Gary Pilnick, Gary Pilnick's Organizations: Grand Prospect Hall, New, New York City, Apple, Mastercard, Chefs, Casas, Soho House, Bangkok Supper, Village, IBA, Hospitality Alliance, Nationwide, National Restaurant Association, Nasdaq, The University of Michigan Consumer, UBS, New York Locations: New York City, New York, Rome, Xinjiang, New, Manhattan, Coqodaq, Las Vegas, York, Bangkok, Hell, TouchBistro, Brooklyn, The Bronx

☆ Trump is just 3 weeks from becoming the first ex-president to go on trial
▼ + stars: | 2024-03-25 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Yet the moment that history is likely to remember most clearly unfolded in a Manhattan courtroom where Trump sat seething as a judge thwarted his latest delaying tactics and set a date for his hush money trial. Of course, it’s also possible that Trump could be acquitted in this criminal case. It is a mark of the depth of Trump’s legal hole that a reduced requirement to post a bond worth $175 million counts as a big win. Already clashing with another judgeTurning to Judge Juan Merchan, who took the gloss off of the ex-president’s day by scheduling the trial date, Trump issued another bitter complaint. Trump’s looming criminal trial presents a challenge and an opportunity for the Biden campaign.

Persons: Donald Trump staved, Trump, it’s, Stormy Daniels, isn’t, ” Trump, ”, he’d, he’ll, Arthur Engoron, Letitia James, “, Juan Merchan, Attorney Alvin Bragg, ” Ryan Goodman, CNN’s Erica Hill, Jack, Fani Willis, Willis, Aileen Cannon, Biden, Nikki Haley, she’s, Joe Biden, Trump’s, “ Donald Trump, James Singer, Donald Trump, –, Merchan, ” Merchan Organizations: CNN, Trump, New York, ”, Manhattan, Attorney, Department of Defense, Fulton, GOP, South Carolina Gov, Biden, Arab American, Israel, Engoron, Monday Locations: Manhattan, New York, Fulton County, Georgia, Lago, Florida, Trump, Atlanta, Michigan, Gaza, York

WASHINGTON (AP) — The House is expected to vote to keep money flowing to scores of federal agencies before a midnight Friday shutdown deadline even as many members of the Republican conference are expected to vote against it. A significant number of House Republicans oppose the measure, forcing House Speaker Mike Johnson, R-La., to use an expedited process to bring the bill up for a vote. That process requires two-thirds of the House to vote for the measure for it to pass. Photos You Should See View All 60 ImagesJohnson countered that House Republicans have just a two-vote majority in the House while Democrats control the Senate and White House. The GOP's effort was unsuccessful for now, but supporters say they'll try again in next year's spending bills.

Persons: Mike Johnson, Johnson, “, ” Johnson, staved, they'll, ”, Rosa DeLauro, Gabrielle Giffords, Vanessa N, Gonzalez, Scott Perry, Lisa Mascaro Organizations: WASHINGTON, Republican, Congress, Republicans, Environmental Protection Agency, Alcohol, Tobacco, Firearms, Explosives, FBI, Caucus, White, WIC, House Republicans, SNAP, Strategic Petroleum Reserve, Department, Rep, Giffords, House GOP, Veterans Affairs, Agriculture, Transportation, Associated Press Locations: China

☆ It's becoming insane again in venture capital: A tiny AI startup wants investors to pay $100 to book a meeting with its founder.
▼ + stars: | 2024-03-01 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

A couple of days ago, startup founder Dan Siroker set his sights on meeting new investors. Siroker closed the process with 170 bids to sift through. Siroker told Business Insider this week that he isn't actively fundraising. Advertisement"When deals get hot, there is extreme interest," Ben Lerer, managing partner of Lerer Hippeau, an early-stage venture firm, told Business Insider's Ben Bergman late last year. "If you're not there long before the raising, you're not part of the conversation."

Persons: —, Dan Siroker, clamoring, whittle, Siroker, isn't, Andreessen Horowitz, they'd, Pavlo Gonchar, Ben Lerer, Lerer, Insider's Ben Bergman, there's, Dick Costolo, they're, Costolo, he'd Organizations: Service, Business, Getty, Twitter, Google, Nvidia, Boys & Girls Locations: haves, Silicon Valley

☆ Consumers fended off a recession — but keep spending like there's no tomorrow
▼ + stars: | 2024-02-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewAmerican consumers have staved off a recession by relentlessly spending despite soaring inflation, surging interest rates, multi-industry turmoil, and wider economic jitters. AdvertisementBurry predicted that dwindling savings and ballooning debts would choke consumer spending, eroding corporate earnings and sparking a wider recession. That's going to lead to a retrenchment in consumer spending as we get into the new year." That "brings us just a little closer to the consumer recession that nobody believes is going to happen," he added. "With those sources of funding largely exhausted, consumer spending will no doubt grow more slowly than after-tax incomes in future years."

Persons: —, Here's, Michael Burry, Elon, Elon Musk, Spencer Platt, Carl Weinberg, David Rosenberg, Merrill Lynch, Rosenberg, Gary Shilling, Merrill Lynch's, who's, Shilling Organizations: Service, Business, Twitter, Scion Asset Management, Elon Musk, Getty, Rosenberg Research, North Locations: North American

☆ Bank of England could be about to open the door to interest rate cuts
▼ + stars: | 2024-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | ReutersLONDON — The Bank of England is widely expected to hold interest rates steady at 5.25% on Thursday, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts. The labor market has shown signs of rebalancing, although the overall trajectory remains somewhat uncertain, while wage growth and services inflation have surprised the Bank's November projections substantially to the downside, Goldman Sachs economists noted on Sunday. "We expect the MPC to retain its data-dependent approach and reiterate that monetary policy 'will need to be sufficiently restrictive for sufficiently long'," Quadri said. Goldman sees a first 25 basis point cut in May, followed by further quarter-point increments at every meeting until the Bank rate reaches 3% in May 2025.watch now

Persons: Henry Nicholls, Goldman Sachs, Ibrahim Quadri, Swati, Catherine, Mann, Quadri, Goldman Organizations: Bank of England, Reuters LONDON, Monetary, MPC, Goldman Locations: City, London, Britain, British, U.K

☆ Opinion | ‘The Strongest Democratic Party That Any of Us Have Ever Seen’
▼ + stars: | 2024-01-25 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

If you’re a Democrat, how worried should you be right now? On the one hand, polls suggest Democrats should be very worried. Biden has a strong record to run on, and Trump has a lot more baggage than he did in 2020. Simon Rosenberg is a longtime Democratic political strategist, the author of the newsletter Hopium Chronicles and one of the few people who correctly predicted the Democrats’ strong performance in 2022. He argues that the Democratic Party is in a better position now than it has been for generations.

Persons: Biden, Donald Trump, staved, Trump, “, Ezra Klein, Simon Rosenberg, MAGA Organizations: Democrat, Apple, Spotify, Amazon Music, Google, Democratic, ’, Democratic Party

☆ Polarizing YouTube star Gabbie Hanna has reemerged as a fitness instructor at a Pennsylvania YMCA after vanishing from social media last year
▼ + stars: | 2024-01-23 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Read previewAfter vanishing from the internet last February — the month of her last TikTok and Instagram posts — controversial former YouTube star Gabbie Hanna has reemerged as a fitness instructor. Last month, the Lawrence County YMCA, located in Hannah's hometown of New Castle, Pennsylvania, announced her as their "newest instructor." In the quippily edited clip, which was first shared on the local YMCA's Instagram page, Hanna is seen dancing as she introduces herself as "your new instructor at the Lawrence County YMCA." one commenter wrote on the YMCA's Instagram post. Neither the Lawrence County YMCA nor Hanna immediately responded to Business Insider's requests for comment.

Persons: —, Gabbie Hanna, Hanna, Trisha Paytas, Jessi, Vazquez Organizations: Service, YouTube, Business, Lawrence County YMCA, New, YMCA Locations: Lawrence, Hannah's, New Castle , Pennsylvania, Lawrence County

☆ Alistair Darling, Guiding Hand in Britain’s Financial Crisis, Dies at 70
▼ + stars: | 2023-11-30 | by ( Alan Cowell | More About Alan Cowell | ) www.nytimes.com time to read: +1 min

Alistair Darling, a British lawmaker and cabinet minister who played a leading role in his country’s response to the 2008 global financial crisis, rescuing troubled banks with huge injections of public money that staved off a broader economic collapse, died on Thursday at a hospital in Edinburgh. Darling became “best known as the steady pair of hands who shepherded the U.K. economy as half its banking system collapsed,” noting his moves to rescue British banking giants, especially the Royal Bank of Scotland. Just before the crisis, in 2007, Gordon Brown, Britain’s Labour prime minister at the time, elevated Mr. Darling to chancellor of the Exchequer, the government’s most senior official in charge of the nation’s finances. Darling had held a series of government offices at the Treasury and at ministries dealing with welfare, pensions, trade and transport.

Persons: Alistair Darling, Darling, Gordon Brown Organizations: Lehman Bros, BBC, Royal Bank of Scotland, Labour, Treasury Locations: British, Edinburgh, United States

Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.

Persons: WAYNE, Britney Johnson, Johnson's, “, ”, Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York

SACRAMENTO, Calif. (AP) — Federal officials said Wednesday that conditions have improved on the Colorado River to the point that a plan by California, Arizona and Nevada to voluntarily reduce water use should help keep the river basin on stable footing for the next few years. The states failed to reach a consensus on cuts, and the federal government did not end up forcing any. The threat of those two options finally forced the three states to reach their own voluntary plan for how to reduce their use of the river's water. Already, the three states have lowered their water use, said Tom Buschatzke, director of the Arizona Department of Water Resources and the state’s representative on Colorado River issues. Now, the states can turn their attention to a new long-term agreement for how to share the river’s water beyond 2026.

Persons: Lake Mead, Tommy Beaudreau, Camille Touton, Biden, JB Hamby, ” Hamby, Hamby, Tom Buschatzke, ”, __, Suman Naishadham, Ken Ritter Organizations: —, U.S . Department of, U.S . Bureau of Reclamation, Colorado River Board of California, Imperial Irrigation District, Arizona Department of Water Resources, Associated Press Locations: SACRAMENTO, Calif, Colorado, California , Arizona, Nevada, Lake Powell, Mexico, Arizona , California, California, Arizona, Santa Ana , California, Washington, Las Vegas

☆ 5 things investors should know about a coming recession, according to Bank of America
▼ + stars: | 2023-10-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The latest Bloomberg poll shows forecasters give 55% odds for a US recession in the next 12 months. Bank of America broke down the top factors to watch for ahead of a potential downturn. Third, investors should also understand that recessions typically do not last long. On average, recessions last just over 10 months, Bank of America said. Stock returns from post-recession lows have proved historically strong, with an average of 19.7% 3-month returns, 28% 6-month returns, and 43.7% 12-month returns.

Persons: —, Merrill, Joseph P, Quinlan, Stock Organizations: Bloomberg, Bank of America, of, Service, BofA Private Bank, National Bureau of Economic Research, Federal Locations: of America's

☆ Why an economic soft landing may prove elusive
▼ + stars: | 2023-10-13 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

His latest book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism”, won’t make him any friends in monetary policymaking circles. The Fed responded by reducing interest rates to zero and employing various tools to lower bond yields. These economic imbalances prevented central banks from returning interest rates to normal levels. Unless, that is, liberalising economic reforms are enacted that boost productivity and allow interest rates to rise. Bernard Conolly’s book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism” was published in hardback in September.

Persons: Bernard Connolly, Connolly, won’t, they’ve, Michael Woodford, ”, Alan Greenspan, staved, Lehman, Edward Chancellor’s “, Bernard Conolly’s, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, European Monetary Union, European Commission, Banks, U.S . Federal, stoke, Lehman Brothers, Fed, Reuters Graphics, Treasury, Securities, Thomson Locations: U.S, United States, British, Europe, American, “, ”, disequilibrium, intertemporal, Central

☆ Art Cashin says the market will bottom this month and this could be the unusual catalyst to cause it
▼ + stars: | 2023-10-02 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

There's more downside pressure coming for the market, according to Art Cashin, and it could come from an unusual source. "October is the month of bottoms, and usually they come after some kind of climactic sell-off. Cashin pointed to billions of tax payments which were earlier deferred in several states by the Internal Revenue Service due to storm and weather-related damage, that could put further pressure on the market. Cashin also pointed to rising Treasury yields as another source of pressure for the market. Aside from the deferred tax payments and yields, Cashin pointed to student loan repayments beginning this month and individuals' pandemic-relief money starting to dry up, which is taking out money from the banking system.

Persons: Cashin, CNBC's, Stocks Organizations: UBS, Dow Jones Industrial, Dow, Internal, IRS Locations: California

☆ European markets open higher as data boosts sentiment
▼ + stars: | 2023-10-02 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

The Stoxx 600 index was up by 0.2% at the open, with most sectors gaining. European markets opened higher Monday, with regional markets given a boost last week on a firm sign that the recent rate of consumer price rises could be slowing. Euro zone inflation fell to its lowest level since October 2021. The European Central Bank hiked interest rates to a record level last month, but economists and investors expect them to have now reached their peak. Elsewhere overnight, Asia-Pacific stocks traded mixed after manufacturing data out of China bounced back to expansion territory.

Organizations: Mining, European Central Bank, U.S . Federal Locations: Asia, Pacific, China

McCarthy has the support of most of his members for remaining speaker, but his conference has been riddled with infighting. If just a handful of those members joined with all Democrats, McCarthy would indeed be imperiled. It remains to be seen how many of those members – or others – might support a motion to oust McCarthy. So with a razor-thin GOP majority in the House, whether McCarthy keeps his gavel will almost certainly depend on Democrats. And adding to the troubles was McCarthy’s insistence on Sunday that Democrats were “willing to let government shutdown,” despite their support for the legislation that outnumbered Republicans’.

Persons: Matt Gaetz, Kevin McCarthy, McCarthy, it’s, –, “, ” Gaetz, Joe Biden, ” McCarthy, Gaetz, ” “, Donald Trump, Trump, Alexandria Ocasio, Cortez, it’s “, don’t, Republicans ’, Hakeem Jeffries Organizations: Republican, Florida Republican, California Republican, Union, White, GOP, “, Republican Party, House, Caucus, Rep, CNN, Republicans, House Republicans Locations: Florida, California, “ State, Ukraine, Alexandria, Cortez of New York

☆ Dow futures jump more than 100 points after lawmakers avert government shutdown: Live updates
▼ + stars: | 2023-10-01 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Futures tied to the Dow Jones Industrial Average rose 122 points, or 0.4%. S&P 500 futures gained 0.4%, while Nasdaq 100 futures added 0.6%. The looming threat of a government shutdown weighed on investors last week, which also marked the end of the trading month and quarter. September marked the worst monthly performance of the year for the S&P 500 and Nasdaq Composite . The S&P 500 is down about 6% from its 2023 high close in July, but still up 11% for the year.

Persons: Joe Biden, Jamie Cox, Cox, They're, Dow Organizations: Dow Jones, Nasdaq, Harris Financial, Futures, Investors Locations: Ukraine, U.S

☆ MLB roundup: Corbin Carroll makes rookie history as D-backs roll
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +13 min

Willi Castro homered and had two hits and two runs scored, Christian Vazquez had a double among his two hits. However, he surrendered six runs on seven hits. Giolito (8-14) allowed four runs (three earned) on seven hits over 5 1/3 innings, walking three with six strikeouts. Senga (12-7), a standout MLB rookie after playing pro ball in Japan from 2012 to 2022, allowed seven hits, two walks and two runs with three strikeouts. He held the Cardinals to one run on four hits in six innings while striking out four and walking two.

Persons: Corbin Carroll, Matt Kartozian, Phoenix . Carroll, Merrill Kelly, Ketel Marte, Christian Walker, Gabriel Moreno, Logan Webb, Mauricio Dubon, Danny Coulombe, Yainer Diaz, Chas McCormick, Dubon, Ryan Pressly, Jorge Polanco, Hunter Greene's, Willi Castro, Christian Vazquez, Jhoan Duran, Griffin Jax, Alexis Diaz, Bryson Stott, Stott's, A.J, Minter, Nick Castellanos, Kevin Gausman, Michael King, Ji Man Choi, San Diego, Luis Garcia, Josh Hader, Brendan Rodgers, Hader, Chase Anderson, Brandon Drury, Nolan Schanuel, Andrew Wantz, Reid Detmers, Manuel Margot, Isaac Paredes, Yandy Diaz, Aaron Civale, Lane Thomas, Washington's Joey Meneses, Dominic Smith, CJ Abrams, Josiah Gray, Andrew Vaughn, Nelson Velazquez, Velazquez, Lucas Giolito, Angel Zerpa, Joshua Palacios, Connor Joe, Joe, Jared Triolo, Ke'Bryan Hayes, Justin Steele, Mitch Keller, Adam Duvall, Bobby Dalbec, Brayan Bello, Jonah Heim, Mitch Garver, Marcus Semien, Josh Jung, Evan Carter, Reese Olson, Tyler Nevin, Carson Kelly, Kerry Carpenter, Olson, Max Muncy, Bobby Miller, Mark Vientos, Brandon Nimmo, Luis Arraez, Jake Burger, Burger, Dominic Canzone, George Kirby, Canzone, Joey Estes, Julio Rodriguez, Cal Raleigh, Estes, Josh Donaldson, Tyrone Taylor, Louis, Mark Canha, Adrian Houser, Zack Thompson Organizations: Arizona Diamondbacks, San Francisco Giants, Chase, Diamondbacks, Arizona, Giants, Chicago Cubs, National League West, Los Angeles Dodgers, Astros, Orioles, Houston, American League West, Baltimore, AL East, Tampa Bay, Rays, Reds, Cincinnati, Minnesota, Kansas City, American League Central, Phillies, Braves, Philadelphia Phillies, Atlanta Braves, National League East, Blue Jays, Yankees, Toronto, Texas Rangers, Seattle Mariners, American League, Padres, San, Rockies, Los Angeles, Tampa, White Sox, Chicago, Nationals, Royals, Cleveland, Cubs, Pittsburgh, Pirates, Rangers, Red Sox, Boston, Texas, Tigers, Dodgers, Detroit, Los, National League, Mets, Marlins, Miami, New, MLB, NL, Mariners, Athletics, Seattle, Oakland, Seattle's, AL West, Houston Astros, Cal, Triple, Brewers, Cardinals, National League Central, Thomson Locations: Phoenix , Arizona, USA, Phoenix ., Minnesota, Toronto, New York, Bronx, Colorado, St . Petersburg, Fla, Tampa, Tampa Bay, Washington, Kansas, Texas, Arlington , Texas, Boston, Los Angeles, California, South Florida, Japan, Miami, Milwaukee

☆ As Instacart goes public, it's no victory lap for founder Apoorva Mehta
▼ + stars: | 2023-09-19 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.

Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County

☆ One unintended consequence of the unaffordable housing market: Crashing furniture sales
▼ + stars: | 2023-09-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

US furniture retailers like RH and Williams-Sonoma are struggling to sell products in a tight housing market. The unaffordable housing market is stretching wallets and making new furniture less of a priority for buyers. A slew of furniture brands have reported weaker earnings in the most recent quarter. Furniture retailers have reported weaker sales as Americans, who are struggling to break into the housing market, aren't buying the usual amount of couches, tables, and home goods. "A housing shortage and the over 20-year high on fixed mortgage rates has slowed down housing activity.

Persons: RH, Hooker, Jeremy Hoff Organizations: Williams, Service, Bloomberg, San Francisco Federal Reserve Bank Locations: Sonoma, Wall, Silicon, Williams, Elm, Virginia

☆ The trusty American consumer is poised to run out of steam by early next year, investor survey says
▼ + stars: | 2023-09-12 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Spending by the ever-reliable US consumer is about to fizzle out, according to a Bloomberg investor survey. Such resilience has staved off widespread recession fears, but as household savings run out, the fortunes of the US economy could reverse. AdvertisementAdvertisementIndeed, excess savings accumulated since the pandemic are poised to evaporate by as early as the end of September, the Federal Reserve Bank of San Francisco has said. "We still have very high prices, but we don't have all of that funny money around anymore, and the excess savings are going negative." The famed investor says the drying up of consumer savings is set to hammer corporate profits as spending declines.

Persons: –, Jeffrey Gundlach, Michael Burry Organizations: Bloomberg, Service, Federal Reserve, Federal Reserve Bank of San, Billionaire, DoubleLine, Fox Business Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

Shares slipped Thursday in Asia as China reported weaker global demand hit its trade in August, adding to pressures on its economy. Investors have been hoping that the Fed might moderate interest rate increases going forward as inflation has been easing for months. Wall Street expects the Fed to hold its benchmark interest rate steady at its next meeting later in September. Economic updates last week on consumer confidence, jobs and inflation reinforced those hopes. Wall Street will get several more economic updates on inflation and retail sales later in September ahead of the Fed’s next meeting.

Persons: Australia's, Stephen Innes, “, Brent Organizations: Nikkei, Dow Jones, Nasdaq, Apple, Nvidia, Fed, Institute, Supply, Management, Treasury, Federal, Investors, New York Mercantile Exchange, U.S Locations: Asia, China, Seoul

☆ Thailand has a new leader but it's not the one people voted for. Here's why
▼ + stars: | 2023-08-23 | by ( Helen Regan | ) edition.cnn.com time to read: +10 min

Protesters walk through smoke after setting fire to mock corpses during a protest at Pheu Thai Party headquarters in Bangkok on August 2, 2023. It formed a coalition with other like-minded parties, including runners up Pheu Thai. Former Thai Prime Minister Thaksin Shinawatra flanked by his son Panthongtae Shinawatra and daughter Paetongtarn Shinawatra at Don Mueang airport in Bangkok, Thailand August 22, 2023. “I want to be a prime minister who can make the difference,” Srettha previously told CNN. But with an 11-member coalition that includes bitter rivals, it’s unclear whether Srettha and Pheu Thai will be able to govern effectively.

Persons: staved, Srettha Thavisin, Thaksin Shinawatra, Thaksin, Thais, Valeria Mongelli, Hans Lucas, lese, Pita Limjaroenrat, Pita, Pheu, Pheu Thai, Thaksin’s, Shinatwatra, ”, Thitinan Pongsudhirak, Panthongtae Shinawatra, Paetongtarn Shinawatra, Athit, ” Thitinan, Yingluck Shinawatra, “, Strettha, Thailand’s King Vajiralongkorn, Srettha, Prayut Chan Organizations: CNN, Party, Pheu Thai Party, Reuters, Pheu, Senate, Chulalongkorn University . Former Thai, Thaksin, Manchester City Football Club, Thai, Facebook, Thai Corrections Department, Procter & Gamble, Bangkok Post Locations: Thailand, Bangkok, Senate, Thai, Pheu Thai, Don Mueang

☆ AMC shares crater as investors brace for stock conversion
▼ + stars: | 2023-08-22 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

AMC Entertainment shares plummeted more than 20% on Tuesday, slipping to a new 52-week low of $2.46 per share, as investors brace for a stock conversion later this week. On Friday, the movie theater chain's preferred equity units, dubbed APE shares, are set to be transformed into common stock just one year after they began trading on the New York Stock Exchange. These preferred equity units are a workaround, of sorts, and free AMC up to sell additional units of stock after investors who feared dilution rejected the company's efforts to issue additional stock last year. AMC also is planning a 10-to-1 reverse stock split of its common stock on Thursday. Shares of the company have nearly halved since it was announced on Aug. 14 that the APE shares would be converted.

Persons: Eric Handler, Roth MKM Organizations: AMC Entertainment, New York Stock Exchange, AMC Locations: Delaware

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