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☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

We were shocked to see our homes, our streets, our lands, our yards and everything demolished," said Gihad Nabil, who was recently married and had been living in Abu Ta'imah with his wife. We don't need this truce, we need a complete ceasefire," he said, likening what he was seeing to an earthquake zone. Abdelrahman Abu Ta'imah, a member of the clan that gave the area its name, searched through his bombed-out apartment, pulling clothes and a pink mattress from the debris. Israel says it targets Hamas infrastructure, and accuses Hamas of putting civilians in harm's way by using them as human shields. But Abu Ta'imah said a short truce was not enough and he longed for a permanent solution to the Israeli-Palestinian conflict.

Persons: Mohammed Salem, KHAN YOUNIS, Abu Ta'imah, Gaza's Khan Younis, Gihad Nabil, Nabil, Israel, Antonio Guterres, Khan Younis, we've, Estelle Shirbon, Angus MacSwan Organizations: Hamas, REUTERS, Thomson Locations: Israel, Palestinian, Khan, Gaza, Abu, Gaza's, Egypt

☆ In a Cairo hospital: Guilt, pain and a desperate wait
▼ + stars: | 2023-11-20 | by ( Eleni Giokos | ) edition.cnn.com time to read: +8 min

Today Wadea’s 9-year-old son, Abdelrahman, shares a hospital room at Nasser Medical Institute with his 14-year-old sister. Injured children board an ambulance to be transferred from Al-Aqsa Hospital to Egypt for medical treatment through Rafah on November 17, 2023. On Monday, 28 babies arrived in Egypt from Gaza at the Rafah crossing, according to an Egyptian government official. One baby was discharged in Gaza and went home with his parents to their temporary shelter, while two others stayed in the ICU unit of the Emirati hospital in Rafah, Gaza. Conditions in Gaza have grown desperate as fuel supplies dwindle, forcing the closure of 26 of the enclave’s 35 hospitals.

Persons: Rami Mahmoud, Elham Maged, Mahmoud, Cairo's, Cairo’s, “, ‘, ” Elham, ”, ’, Adel Hana, God, Rami, Elham, Muhammed Wadea, CNN Muhammed Wadea, Khan Younis, Abdelrahman, Wadea, Riham, Dr, Khaled Abdel Ghaffar, Mustafa Hassona, CNN's Eleni Giokos, CNN Ghaffar Organizations: CNN, Cairo's Nasser Medical Institute, Cairo’s Nasser Medical Institute, Nasser Medical Institute, Aqsa, Getty, United Nations Locations: Gaza City, Egypt, Gaza, Salah, Israel, Khan, Rafah, Qatar, United States, Al, Anadolu, Gazan

BLAINE, Minn. (AP) — In blue ink on a scrap of white paper that sits on his desk, Jehad Adwan scribbles the names and ages of his wife's relatives. The family’s plight reflects the far reach of the war for Palestinian and Israeli families around the world. Political Cartoons View All 1211 ImagesFor Adwan, even the blast at a hospital in Gaza had a personal connection. Hiba, their mother and Abumousa's sister-in-law, was an architect and novelist. Among the five injured were Abumousa's other nieces and nephews, and the sister of her sister-in-law.

Persons: BLAINE, Jehad Adwan, “, ”, Fatma Abumousa, Khan Younis, Abumousa, Adwan, —, Hmaid, Yusuf, Abdelrahman, Hani, Abumousa’s, Israel, ” Adwan, Yaman, Abumousa's, hasn't, ___ Trisha Ahmed, @TrishaAhmed15 Organizations: Minnesota State University, Mankato, Adwan, Associated Press, America Statehouse News Initiative, America Locations: Minn, Minneapolis, Israel, Gaza, Palestinian, Germany, “

War between the army and the RSF broke out in mid-April over plans for a political transition and the integration of the RSF into the army, four years after long-time ruler Omar al-Bashir was overthrown in a popular uprising. Burhan has made a series of foreign visits in recent weeks after remaining in Sudan for the first months of the war. The purpose was to seek solutions, not military support, though he had asked other states to block external backing that he asserts the RSF is receiving, he said. The RSF has denied it is behind the violence in Darfur, and will hold its men accountable for abuses. Burhan said he told the governor to seek protection at a military camp, but the governor had rejected that.

Persons: Abdel, Fattah Al, Burhan Abdelrahman Al, Burhan, Eduardo Munoz, Abdel Fattah al, Omar al, Bashir, RSF, Mohamed Hamdan Dagalo, Daphne Psaledakis, Khalid Abdelaziz, Aidan Lewis, Grant McCool Organizations: Transitional Sovereign, General Assembly, REUTERS, NEW YORK, Reuters, Rapid Support Forces, United Nations General Assembly, Thomson Locations: New York City, U.S, West Darfur, CAIRO, New York, Saudi Arabia, United States, Jeddah, Sudan, Darfur, El Geneina, Cairoa

☆ Americans are exhausting their excess savings - and could run out funds this quarter, Fed study says
▼ + stars: | 2023-08-18 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Americans are burning through their savings and could run out funds as early as this quarter, a Fed study showed. As of June, Fed estimates show US households held less than $190 billion of aggregate excess savings. With excess savings dwindling, Americans have leaned on their credit cards for spending. Excess savings refer to the difference between actual savings and the pre-recession trend, Fed researchers said. As of June, Fed estimates show that US households held less than $190 billion of aggregate excess savings.

Persons: Hamza Abdelrahman, Luiz Oliveira, Abdelrahman, Oliveira Organizations: Service, Privacy, Federal Reserve Bank of San, San Francisco Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ Darfur: Hundreds of people fleeing El Geneina were killed in a day-long massacre, body collectors and survivors say
▼ + stars: | 2023-08-16 | by ( Tamara Qiblawi Allegra Goodwin Nima Elbagir Celine Alkhaldi | Tamara Qiblawi | Allegra Goodwin | ) edition.cnn.com time to read: +18 min

A picture taken on June 16, 2023, shows bodies strewn outdoors near houses in the West Darfur capital El Geneina. A video shared on Twitter on June 14, 2023, showing hundreds of refugees from El Geneina walking towards Chad. “The fighters had DShK’s (Soviet-era heavy machine guns) and other heavy weaponry,” said Khamiss, the lawyer from El Geneina. Zahra Adam, a women’s rights activist from El Geneina, told CNN she had saved two young boys from drowning. When asked whether the ICRC had alerted third parties to evidence of a mass atrocity in El Geneina, Synenko said they had not.

Persons: El Geneina, ”, “, Masalit, Jamal Khamiss, Khamiss, ” Jamal Khamiss Khamiss, Mohamed Hamdan Dagalo —, Gen, Mohamed Hamdan Dagalo, Hemedti, Abdel Fattah al, Burhan, Omar al, Bashir, Wagner, Zohra Bensemra, Dr, Papi Maloba, Maloba, Mohammad Ghannam, RSF, West, Khamis Abbakar, ” Khamiss, Zahra Adam, Adam, General Abdelrahman Juma —, General Abdelrahman Juma, YouTube Juma, Mujeeb Rahman Muhammad Rezk, Alyona Synenko, Synenko, Chad The, ” Zahwi Idriss, Zahwi Idriss Organizations: CNN, Rapid Support Forces, West Darfur, Getty, Sudanese, International Organization for Migration, Twitter, Hemedti, United Nations, Reuters, Sans, MSF, Chadian, El, Teaching, Crescent, YouTube, Support Forces, Sudanese Red Crescent Society, SRC, International Committee, ICRC, Darfur, UN, Geneina Teaching Locations: West Darfur, El, West, El Geneina, AFP, Chad, Sudan, “, Geneina, Darfur, Chadian, Shukri, Khartoum, Adre, Ardmata, Wadi Kaja, RSF, tarpaulins, Africa, ”

☆ Sudan's war scatters country's emergent art scene
▼ + stars: | 2023-06-01 | by ( Adam Makary | ) www.reuters.com time to read: +4 min

Abdullah is a member of a youthful art scene that gained momentum from the popular uprising against autocrat Omar al-Bashir and finds itself scattered by war four years later. "We've always been repressed, especially during Bashir's time," said 28-year-old Rahiem Shadad, who co-founded Downtown Gallery in Sudan's capital in 2019. Shadad's gallery has raised just over $8,500 of a $30,000 target to support artists financially during the war. Painter and retired art professor Salah Abdelhay fled to Egypt with his wife and two daughters. Reporting by Adam Makary and Fatma Fahmy Editing by Aidan Lewis and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Rahiem Shadad, Omar al, Bashir, Yasmeen Abdullah, I'd, Abdullah, autocrat Omar al, We've, Shadad, Muhammed Yusuf, Yusuf, Khalid Abdelrahman, Painter, Salah Abdelhay, Adam Makary, Aidan Lewis, Christina Fincher Organizations: REUTERS, Downtown, Thomson Locations: Khartoum, Sudan, Cairo, Egypt, CAIRO, Sudan's, Shendi, Omdurman, Wadi Halfa

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