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☆ Russia has secret war drones project in China, intel sources say in Reuters report
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +6 min

Kupol, Almaz-Antey and the Russian defense ministry did not respond to requests for comment for this article. He said more information was needed to establish that China was playing host to production of Russian military drones. "China cannot continue to fuel the largest conflict in Europe since the Second World War without this impacting its interests and reputation." "We are extremely concerned by reports that Russia is producing military drones in China," a spokesperson said. Beijing has repeatedly denied that China or Chinese companies have supplied Russia with weapons for use in Ukraine, saying the country remains neutral.

Persons: Russian Federation Manuel Augusto Moreno, IEMZ, Kupol, Fabian Hinz, Samuel Bendett, Farah Dakhlallah, Kupol's Organizations: Russian Federation, Ukraine, Reuters, International Institute for Strategic Studies, Center, New, New American Security, White House National Security Council, NATO Locations: People's Republic of China, Russia, China, Russian, Ukraine, Beijing, London, New American, Washington, U.S, Europe, Kupol, Izhevsk

WASHINGTON — Vice President Kamala Harris on Wednesday again confirmed that she once worked at McDonald's, pushing back against former President Donald Trump, who has repeatedly claimed she never worked there. "Part of the reason I even talk about having worked at McDonald's is because there are people who work at McDonald's in our country who are trying to raise a family," she said. A spokesperson for the Trump campaign did not immediately respond to a request for comment on Harris' remarks. Trump has also insisted that Harris' anecdote about having worked at the fast-food chain is a "fake story." During Wednesday's interview, Harris said: "My mother raised my sister and me.

Persons: WASHINGTON, Kamala Harris, Donald Trump, Harris, Stephanie Ruhle, Trump Organizations: Wednesday, NBC Locations: McDonald's

☆ House to vote to condemn Biden, Harris and others over 2021 Afghanistan withdrawal
▼ + stars: | 2024-09-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +2 min

The House is set to vote Wednesday to formally condemn President Joe Biden, Vice President Kamala Harris and other officials over their handling of the 2021 U.S. withdrawal from Afghanistan. The resolution also points to Harris’ April 2021 comments to CNN that she played a central role in Biden's decision to pull troops from Afghanistan. Former President Donald Trump and Republican allies have sought to blame Harris for the Afghanistan withdrawal after she jumped into the presidential race in July. Sen. JD Vance, R-Ohio, Trump’s running mate, last month blasted Harris over the administration's handling of the Afghanistan withdrawal. Kamala Harris is disgraceful.”Family members of the service members killed in the Abbey Gate attack did not invite Biden or Harris to Arlington National Cemetery last month to commemorate the attack's third anniversary, a White House official and a Harris aide told NBC News.

Persons: Joe Biden, Kamala Harris, Michael McCaul, Harris ’, Blinken, Matthew Miller, Donald Trump, Harris, Sen, JD Vance, Trump’s, hasn’t, ” Vance, Biden Organizations: House Foreign, CNN, Foreign Affairs, United Nations, Assembly, State Department, Republican, Arlington National, White, NBC News Locations: U.S, Afghanistan, Texas, Kabul, New York, R, Ohio, Arlington

A Democratic group is launching a legal fund to help secretaries of state in key states defend against an anticipated post-election deluge of lawsuits. The group began aggressively raising money and campaigning to elect Democratic secretaries of state, who oversee elections in many states, in the wake of former President Donald Trump's false claims of voter fraud in 2020. It first funneled money to deal with postelection litigation to then-Arizona Secretary of State Katie Hobbs in 2022 to deal with postelection litigation. “We have a bunch of pro-democracy secretaries of state that we want to support. The initial four states were chosen in part because the group believes state laws will allow it to effectively send money to boost the secretaries of state.

Persons: Donald Trump's, Katie Hobbs, ”, Travis Brimm, “, Trump's, Trump, eyeing Maine's, Jared Golden Organizations: Democratic, NBC News, Democratic Association of, State, Trump's Republican, Electoral, Congressional Locations: Maine , Michigan, North Carolina, Nevada, Arizona, Michigan, Maine

The number of Republican women in the House has tripled to a record 36, including two nonvoting members. Others involved in the effort to boost GOP women are also hopeful they can reach a new milestone this year. The number of House candidates has dropped overall since 2022, a redistricting year that brought a surge of new candidates. The Center for Women and Politics found the steepest drop was among Republican women. For Stefanik, the effort to recruit more GOP women to run for the House has been a resounding success.

Persons: Elise Stefanik, Stefanik, “, Danielle Barrow, —, — Texas ’ Kay Granger, Washington’s Cathy McMorris Rodgers, Debbie Lesko —, Jenniffer, Julie Fedorchak, Carolina’s Sheri Biggs, Amy Walter, ” Stefanik, Young Kim, Michelle Steel, Lori Chavez, Yvette Herrell, Mayra Flores, York’s Alison Esposito, Alabama’s Caroleen Dobson, Tom Emmer, ”, Donald Trump’s, Barrow, Susan B, Anthony Pro, Nancy Dahlstrom, Republican Nick Begich, “ We’re, Marie Gluesenkamp Perez, Leslie Lewallen, Joe Kent, Kent, Gluesenkamp Perez, “ Joe Kent, Joe Biden, Kamala Harris, Harris Organizations: GOP, Republican, Action, — Texas, Puerto, Republicans, National Republican Congressional, Center for Women, Rutgers Eagleton Institute of Politics, Women, RightNOW, America, Democratic, House, Gov, Trump, Fund, Camas City, Green Beret, Congress, Navy, NBC News, New Locations: Puerto Rico’s, Democratic, “, California, Oregon, New Mexico, Mayra Flores of Texas, Minnesota, Stefanik, Washington’s, Camas, Kent, New York, Syria

☆ ‘Education of hatred’: Killing of Japanese boy sparks soul searching in China over rising nationalism
▼ + stars: | 2024-09-25 | by ( Cnn Staff | ) edition.cnn.com time to read: +9 min

It was the second knife attack on Japanese children and third assault on foreigners in China in recent months. “As a Chinese, I feel heartbroken, outraged and ashamed,” said a Shenzhen resident who laid a white rose outside the Japanese school following the boy’s death last Thursday. The killing has shaken the Japanese community in China, with some of Japan’s biggest companies offering to repatriate staff members and their families. Generations of Chinese grew up learning about the atrocities committed by Japanese soldiers in school textbooks and on state television. “There is no so-called Japan-hating education in China,” Foreign Ministry spokesperson Lin Jian said Monday.

Persons: ”, …, Xi Jinping, Lin Jian, “, influencers, WeChat, Kuaishou, Zhang, “ Little, ” Zhang, Yoko Kamikawa, Wang Yi, ” Kamikawa, Wang, Japan, I’m, I’ve Organizations: Hong Kong CNN, Authorities, Kyodo, East China, Japan, ” Foreign, Communist Party, CNN, Japan’s, Associated Press, Japanese Foreign Ministry, Chinese Foreign Ministry Locations: Hong Kong, China, Japan, Shenzhen, Beijing, East, United States, Tokyo, Yasukuni, China’s, Shanghai, New York, Guangzhou, ”, “

☆ CNBC Daily Open: Some caution might be good for markets
▼ + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) 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. While analysts think this move may mark the end of China's deflationary streak, many think monetary policy is not enough. How much will oil demand grow? The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.

Persons: Larry Hu, Consumer's, September's, Dow Organizations: CNBC, Dow Jones, U.S ., People's Bank of China, Macquarie, International Energy Agency, U.S, U.S . Federal, Barclays, Citi Locations: Corte Madera, Corte Madera , California, Asia, Pacific, China, U.S .

☆ Gold’s hitting new records again. Here’s what it means for the economy
▼ + stars: | 2024-09-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Gold, traditionally perceived as a haven, has climbed roughly 30% this year, outperforming the benchmark S&P 500 index’s 20% gain. Fresh consumer confidence data on Tuesday indicated that Americans are feeling pessimistic about the US economy and future of the job market. JPMorgan Chase researchers said in a note on Monday that they expect the yellow metal to continue running toward their 2025 target price of $2,850 an ounce as the Fed brings down rates. Silver, another precious metal that tends to move in tandem with gold, has jumped roughly 34% this year, outperforming the yellow metal. New moves from China to revive its economy also has the potential to lift precious metals, said Rhind.

Persons: Jerome Powell, ”, Kristina Hooper, JPMorgan Chase, “ There’s, Will Rhind, Rhind Organizations: New, New York CNN, Federal Reserve, Traders, JPMorgan, Treasury, GraniteShares, Citi Locations: New York, China, Turkey, India, China’s

☆ Here we go again: Egg prices are spiking. Here’s why
▼ + stars: | 2024-09-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Egg prices spiked by 28.1% in August from 12 months ago, easily the biggest increase out of any food item tracked by the Bureau of Labor Statistics. The main culprit for rising egg prices is a familiar one: bird flu. Where egg prices are rising the mostStill, the current BLS average of $3.20 per dozen eggs remains high. Zooming in to focus on just the past year, Datasembly found that egg prices have increased the most in Hawaii (+49%), Minnesota (+44%) and Alabama (+38%). When egg prices spiked to record highs in early 2023, Cal-Maine’s profit skyrocketed 718%.

Persons: ”, Phil Lempert, they’ve, Price, Brian Moscogiuri, Datasembly, Moscogiuri, graf, ” Moscogiuri, Kevin Bergquist, Musharbash, Emily Metz, ” Metz, Lempert, “ Organizations: New, New York CNN, Bureau of Labor Statistics, Centers for Disease Control, Prevention, US Department of Agriculture, USDA, CNN, Shoppers, Food Institute, Farm, Maine Foods, Cal, Basel Musharbash, Monopoly, American Egg Board, SNAP Locations: New York, Minnesota, Missouri, Iowa, Oklahoma, Alabama, Hawaii, Wells, United States, Cal, Maine, Basel, Texas

☆ Secret Service failures before Trump rally shooting were ‘preventable,’ Senate panel finds
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +7 min

But that information was not relayed to key Secret Service personnel who were interviewed by Senate investigators. The Senate report comes just days after the Secret Service released a five-page document summarizing the key conclusions of a yet-to-be-finalized Secret Service report on what went wrong, and ahead of a Thursday hearing that will be held by a bipartisan House task force investigating the shooting. "This was the result of multiple human failures of the Secret Service," said Kentucky Sen. Rand Paul, the top Republican on the panel. Investigators found that many of the people in charge denied that they had responsibility for planning or security failures, and deflected blame. Democrats and Republicans have disagreed on whether to give the Secret Service more money in the wake of its failures.

Persons: Donald Trump, Butler, Michigan Sen, Gary Peters, Peters, Thomas Matthew Crooks, Trump, rallygoer, Crooks, Anthony Guglielmi, Kentucky Sen, Rand Paul, Ronald Rowe Jr, Republican Sen, Ron Johnson of Organizations: Senate Homeland Security, Governmental Affairs Committee, Democratic, Service, Communications, Republican, Secret Service, Senate, Trump, Secret, Advance, United States Secret Service, Republicans Locations: Butler , Pennsylvania, U.S, Pennsylvania, Michigan, Trump's Florida, Kentucky, Ron Johnson of Wisconsin

☆ Trump touts Russia's military record to justify doing a deal with Putin over Ukraine: 'That's what they do, they fight.'
▼ + stars: | 2024-09-25 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Donald Trump highlighted Russia's military prowess during a rally on Tuesday. He praised Russia's military history and mocked Biden's commitment to aiding Ukraine. Trump also said that the US would be "stuck" in the Ukraine war unless he became president. Go to newsletter preferences Thanks for signing up! AdvertisementFormer President Donald Trump hyped Russia's military record in a rally speech on Tuesday, where he argued again for ending US involvement in the war in Ukraine.

Persons: Donald Trump, Trump, —, Napoleon Bonaparte Organizations: Service, Business Locations: Ukraine, Savannah , Georgia, Soviet, Russia

☆ Here's our counter to analyst negativity about iPhone 16 demand — plus, Nvidia jumps again
▼ + stars: | 2024-09-25 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Club stock kicked into high gear Tuesday on a Barron's report that CEO Jensen Huang completed a predetermined stock trading plan. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jensen Huang, Wednesday's, Jeff Marks, it's, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, Club, Micron, Apple, Wall Street, Apple Intelligence

A couple, who argued with a passenger who reclined her seat, won't be flying with Cathay Pacific ever again. Cathay Pacific has not responded to CNBC's request for comment, but said in the statement that it "sincerely" apologized for the incident. The woman, who narrates parts of the video that was posted on the same platform, said the couple harassed her after she declined to return her seat to the upright position. Eventually, she was moved to another seat, the video showed. However, Cathay Pacific said in its statement that onboard staff had issued two "serious" verbal warnings to the two disruptive passengers.

Persons: Instagram Organizations: Cathay Pacific, London . Cathay, Cathay Locations: Hong Kong, London, London . Cathay Pacific, Cathay Pacific

☆ CNBC Daily Open: It might be better economic data isn’t all rosy
▼ + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) 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. How much will oil demand grow? Oil demand will experience "robust medium-term growth," reaching 112.3 million barrels per day in 2029 from 102.2 million barrels per day in 2023, according to OPEC's 2024 World Oil Outlook report. The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.

Persons: Stocks, Consumer's, September's, Dow, Goldman, Denis Coleman, Jamie Dimon, JPMorgan Chase Organizations: CNBC, Dow Jones, U.S . Federal, JPMorgan, International Energy Agency

☆ I live in Australia, and my partner lives in the US. Long distance is hard — especially when I was detained and deported at the border.
▼ + stars: | 2024-09-25 | by ( Ree Winter | ) www.businessinsider.com time to read: +4 min

Read previewI met my partner in New Orleans right before COVID changed everything, and I never thought our relationship would involve dealing with international borders and visa rules. Spending my 50th birthday alone in Australia after getting deported was devastating. Related storiesWhen I finally returned to the US with the correct visa, I thought the worst was behind me. AdvertisementLiving between two countries comes with its own set of challenges, and the trauma of being deported has only made it harder. Rene and I have had to learn to cope with constant travel, time apart, and the fear of facing immigration again.

Persons: —, COVID, Rene, weren't, wouldn't, hasn't, We've Organizations: Service, Mardi, Business Locations: New Orleans, Australia, Honolulu

☆ Congress votes to avert shutdown, setting up chaotic funding fight in December
▼ + stars: | 2024-09-25 | by ( Clare Foran | Lauren Fox | ) edition.cnn.com time to read: +8 min

The stopgap spending bill, which will fund the government until December 20, will next be sent to President Joe Biden to be signed into law. Johnson had said that he believes Trump understands that House Republicans don’t have the votes to pass the SAVE Act. The House vote was 341 to 82 with 132 Republicans and 209 Democrats voting in favor and 82 Republicans voting against. As that internal contest nears, Johnson’s own leadership deputies are working to shore up their own relationships across the House GOP. In recent days, for instance, Emmer’s team gave personally engraved hockey sticks to several House Republicans that thanked them for their service to the chamber.

Persons: Joe Biden, Mike Johnson, Johnson, Donald Trump, Trump, Republicans don’t, –, ” Rep, Don Bacon, ”, Kevin McCarthy, Republicans –, “, Scott Perry, ” Johnson, It’d, Johnson’s, Tom Emmer, Emmer’s, Ted Barrett, Annie Grayer, Morgan Rimmer Organizations: Washington CNN —, Senate, SAVE, Republicans, GOP, ”, Republican, CNN, Democrats, Caucus, Pennsylvania Republican, Freedom Caucus, US, Service, Trump, House Republican Locations: Louisiana, Nebraska, Pennsylvania

☆ Buying a home is going to get affordable again — but you might have to wait until 2030
▼ + stars: | 2024-09-25 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

Read previewBuying a home could get much more affordable, but Americans might have to wait a while. AdvertisementHere's how Goldman Sachs expects this to play out. To be sure, predicting the future of the US housing market is no easy task, and housing affordability levels will continue to vary by city and state. But if Goldman Sachs is right — and these three developments come to pass in line with the bank's projections — buying a home could become much more affordable for Americans. Viswanathan said Goldman Sachs expects US home prices to rise 4.4% in 2025, up from a 3.2% projection in April.

Persons: —, Goldman Sachs, Vinay Viswanathan, Viswanathan, it's Organizations: Service, Business, Federal Reserve

☆ Analysts warn Coinbase could slump after crypto exchange scored a 6-day rally
▼ + stars: | 2024-09-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Analysts are warning that Coinbase could be entering a down trend after the stock scored a six-day-long advance. In early trading Wednesday, Coinbase rose as much as 1.3%, paving the way for what may be its seventh straight gain. "Coinbase looks very toppy to me as the recent bounce out of the oversold condition looks to be stalling out," Wolfe Research macro strategist Rob Ginsberg told CNBC. Lau also cited muted trading volume on crypto exchanges and pressure on subscription and services revenue due to the declining interest rate outlook. But cryptocurrency "trading volume could jump" when interest rates move even lower and if bitcoin again challenges its all-time high, Lau noted.

Persons: Coinbase, Wolfe, Rob Ginsberg, Tamplin, Owen Lau, Oppenheimer, Lau, bitcoin, Bitcoin, Nick Wells Organizations: Wolfe Research, CNBC Locations: bitcoin

☆ Things are looking up for the economy. So why are consumers still unhappy?
▼ + stars: | 2024-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, the economy is heading in the right direction, but consumers aren't buying it . Things seem to be going really well for the economy, right? Consumers aren't feeling bullish about the economy these days. Last time around, pesky inflation was keeping things like groceries and housing costs high, even as the rest of the economy showed improvement. China's stimulus plan to boost its ailing economy sent emerging markets indexes to their highest level since April 2022 .

Persons: —, Rebecca Zisser, We've, Insider's Juliana Kaplan, Spencer Platt, Getty, Tyler Le, We'll, Morgan, Mike Wilson, Steven Blitz, China's, aren't, Chelsea Jia Feng, weren't, Natalie Ammari, that's, Ron Sherman, Gen, Mark Zuckerberg, Dan DeFrancesco, Jack Sommers, Jordan Parker Erb, Amanda Yen Organizations: Service, Business, Federal Reserve, Conference Board, Fed, Chelsea, Spotify, Visa, US Justice Department, Prosecutors, Meta Locations: Austin , Texas, New York, London

☆ I put Trader Joe's $9 gel-moisturizer dupe to the test. I'm never spending $60 on Clinique again.
▼ + stars: | 2024-09-25 | by ( Jen Glantz | ) www.businessinsider.com time to read: +1 min

Clinique's moisturizer looked and felt very sheer. I bought a smaller jar to test out Clinique's moisturizer since it was so expensive. Jen GlantzSince the 2.5-ounce jar of Clinique's moisturizer was on the pricey side, and I wasn't sure I'd like it, I purchased a smaller 0.05-ounce container for $17. But the label says the product is fragrance-free and the odor wasn't noticeable after about 30 minutes. My skin felt more matte than wet, which is what I'd prefer.

Persons: Clinique's moisturizer, Jen Glantz, moisturizer

☆ Step inside a luxury Panama City resort attracting business travelers with its exclusive, Jack Nicklaus-designed golf course and high-end dining
▼ + stars: | 2024-09-25 | by ( Monica Humphries | ) www.businessinsider.com time to read: +1 min

Panama City's wealthy Santa Maria neighborhood is home to the city's only five-star resort. The Santa Maria Hotel is known for its Jack Nicklaus-designed golf course and high-end dining. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I was in Santa Maria, one of Panama City's most expensive neighborhoods. To celebrate my final night in Panama, I spent a night at the five-star Santa Maria Hotel and Golf Resort.

Persons: Jack Nicklaus, — Organizations: Service Locations: Panama, Santa Maria, Santa, Panama's Gulf, Chiriqui

☆ Biden finally seems comfortable talking about his age
▼ + stars: | 2024-09-25 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +4 min

Read previewAfter months of having to defend his age, President Joe Biden seems willing to discuss it — and its limitations — openly. Sitting for an interview on "The View" on Wednesday, he subtly acknowledged how age factored into his decision to drop out of the election. While Biden stopped short of pinning his decision on his age alone, he openly hinted at the toll being an 86-year-old president would have taken. At his State of the Union speech in March, Biden simultaneously joked about and worked hard to justify his age. When Whoopi Goldberg, one of the hosts, compared Trump to a bug, Biden slapped the table, miming killing the insect to raucous applause.

Persons: —, Joe Biden, Biden, Donald Trump, it's, he's, Robert Hur, Whoopi Goldberg, Trump, Kamala Harris Organizations: Service, Democratic, Business, Trump

☆ US troops deployed to Cyprus as fears of wider Middle East war intensify
▼ + stars: | 2024-09-25 | by ( Natasha Bertrand | Alex Marquardt | ) edition.cnn.com time to read: +3 min

The UK announced on Tuesday that it was sending 700 troops to Cyprus to prepare for a possible emergency evacuation of British citizens from Lebanon if one becomes necessary. The US State Department has also repeatedly warned US citizens to leave Lebanon while commercial travel options are still available. Secretary of State Antony Blinken said Wednesday that the US is “working tirelessly” on diplomatic efforts to prevent an “full-blown war” between Israel and Lebanon. A US official told CNN on Monday that “we are the closest we’ve been to spiraling to a regional war” since Hamas’ October 7 attack. Tehran has not intervened yet, but they will if they believe they are about to lose their most powerful proxy force, Hezbollah, the official added.

Persons: Pat Ryder, Yiannis Antoniou, ”, Keir Starmer, Israel, Antony Blinken, ” Blinken Organizations: CNN, Hezbollah, Pentagon, Reuters, British, US State Department, Ramat David, Wednesday, Israel Defense Forces, Gulf Cooperation Council, UN, Assembly Locations: Cyprus, Israel, Lebanon, Beirut, Ramat, Haifa, Tel Aviv, Gulf, New York, Iran, Tehran

CNN —The US government is “intensely tracking” an ongoing threat by Iran against current and former US officials, Secretary of State Antony Blinken said Wednesday. Law enforcement officials have been concerned about the persistent threat of Iran potentially attempting to assassinate former Trump officials and the former president himself, multiple sources familiar with the matter have previously told CNN. US officials have not detailed the threats against current officials, and Blinken on Wednesday did not reveal further information. Congress is considering additional money for the Secret Service as part of its effort to keep the government funded ahead of a September 30 deadline. An additional $231 million for the Secret Service is included in a continuing resolution the House could vote on as soon as Wednesday.

Persons: Antony Blinken, Donald Trump, NBC’s, ” Blinken, Trump, ”, ODNI, ” Trump, Qasem Soleimani, Kamala Harris, CNN’s Evan Perez, Zachary Cohen, Natasha Bertrand, Kylie Atwood, Kristen Holmes Organizations: CNN, Trump, National Intelligence, Military, Truth Social, Islamic Revolutionary Guard Corps, Baghdad International Airport, Service Locations: Iran, United States, U.S, Baghdad

☆ A key US consumer indicator has dipped to 'crisis levels,' SocGen says
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The savings rate slumped below 3% prior to the 2008 financial crisis, SocGen strategist Albert Edwards said in a note to clients on Wednesday. AdvertisementThe low savings rate attests to strong consumer spending, which has propped up the economy so far. That sounds like it should be good news, but the issue is that the savings rate is likely to rise again after plummeting to such low levels. Related storiesThat was what happened leading up to the Great Financial Crisis, when an uptick in the savings rate preceded the recession, Edwards noted. And while households aren't nearly as indebted as they were during the financial crisis, Americans are still showing signs of financial strain.

Persons: —, Société, Albert Edwards, Edwards, " Edwards Organizations: Service, Commerce Department, Business, Primerica, San Francisco, McKinsey & Company, US, New York Fed

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