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UPDATE 1-Brazil's BRF buys pet food firm Mogiana Alimentos
  + stars: | 2021-06-25 | by ( Ana Mano | ) www.reuters.com + 0.85   time to read: +1 min
(adds details from the filing)SAO PAULO, June 25 (Reuters) - Brazilian food processor BRF SA has acquired 100% of pet products company Mogiana Alimentos, a securities filing showed on Friday, extending its presence in the booming pet sector. The deal marks BRF’s second acquisition in the sector this month after it said on June 18 it had reached an agreement to buy pet food company Hercosul. BRF, which did not disclose the value for either transaction, said the acquisitions would give it a roughly 10% share of Brazil’s pet food market, which has been on an upswing, leading to new entrants and initial public offerings. BRF said it made the acquisitions through its pet products subsidiary BRF Pet SA. In the pet food market for over 46 years, Mogiana Alimentos specializes in animal nutrition products for dogs and cats, BRF said in the filing.
Persons: BRF, Mogiana Alimentos, São Paulo sate, Ana Mano, Jason Neely, Mark Potter Organizations: SAO PAULO, BRF, BRF Pet SA Locations: São, Caribbean, Europe, South America
REUTERS/Brendan McDermidSummary Nike, big banks set to boost DowFedEx slips after missing 2022 earnings forecastFutures up: Dow 0.42%, S&P 0.17%, Nasdaq 0.17%June 25 (Reuters) - The S&P 500 and the Nasdaq were set for record highs at open on Friday, following robust earnings forecast from Nike, while weaker-than-expected inflation data eased worries about monetary policy tightening in the near term. Inflation has been front-and-center of investors' minds, with latest personal consumption expenditures (PCE) data showing a measure of underlying inflation rose less than expected in May. Construction and mining equipment maker Caterpillar (CAT.N), farm-equipment maker Deere (DE.N) and aerospace firm Boeing (BA.N) all edged higher. ET, Dow e-minis were up 144 points, or 0.42%, S&P 500 e-minis were up 7.25 points, or 0.17%, and Nasdaq 100 e-minis were up 23.75 points, or 0.17%. Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Chris Zaccarelli, Joe, Jerome Powell, hawkish, Morgan Stanley, Wells, Devik Jain, Medha Singh, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nike, Dow FedEx, Dow, Nasdaq, Core PCE, Independent, Alliance, Caterpillar, Deere, Boeing, Bank of America, Nike Inc, Citigroup, JPMorgan, Fed, Dow e, FedEx Corp, United Parcel Service Inc, CarMax Inc, Russell, Thomson Locations: Bengaluru
Black Voters Matter has embarked on what the national advocacy and policy group has christened a Freedom Ride for Voting Rights. Its goals, BVM co-founders LaTosha Brown and Cliff Albright note, are threefold: to amplify the need for federal voting rights legislation, build Black voting power, and advocate for Washington, D.C., statehood. People gather during the launch of the "Freedom Ride for Voting Rights" in Jackson, Miss., on June 19, 2021. Founded in 1869, the historically Black college became one of the epicenters of the civil rights movement. “Amen!”Barbara Arnwine, a lawyer, updated the crowd on voting rights legislation before Congress.
Persons: JACKSON, , they’ve, , Woodrow Wilson, BVM, LaTosha Brown, Cliff Albright, , Brown, Albright, Eric J, shelton, Medgar Evers, Martin Luther King Jr, Fannie Lou Hamer, Stokely Carmichael, Julian Bond, Tougaloo, Shelton, John Lewis, James Farmer, James Brown, Pastor Wendell Paris Sr, Isaiah, Kathy Sykes, Barbara Arnwine, Holder, Arnwine, , We’ve, ” Brown, You’ve, Dustin Chambers, Reuters Albright, “ Nat Turner, Harriet Tubman, “ ashe ”, they’re, We’re, Fred Shuttlesworth, Addie Mae Collins, Carole Robertson, Cynthia Wesley, Denise McNair —, Kelly Ingram, King, Randall Woodfin, Novella Paige Organizations: Miss, Black Voters, Woodrow, Tougaloo College, Washington, D.C, Republican, Reuters, Washington , D.C, Freedom Riders, NAACP, Riders, Racial, . Riders, Greyhound, Owens Health, Wellness Center, John Lewis Voting, Coalition, Ebenezer Baptist Church, Student Nonviolent, Southern Christian Leadership Conference, Birmingham Civil Rights Institute, Baptist Church, Ku Klux Klan, Kelly Ingram Park, Capitol, Republicans, American, Facebook, Twitter Locations: America, Georgia, , Selma, Alabama, Bronx, New York City, Jackson, Miss, Gulf, Carolinas , Tennessee, Virginia, West Virginia, Washington ,, Paris, Mississippi, Shelby, Washington, Ebenezer, Atlanta, Birmingham , Alabama, Birmingham, Tennessee
Any company and any store is going to accept bitcoin or some type of digital currency.”Roberts’ camp may be the only one of its kind in the U.S., though it’s beginning to inspire others, especially among Black bitcoin investors. Isaiah Jackson, author of the book “Bitcoin & Black America” and a bitcoin podcaster, said he plans to start taking sign-ups next week for an online-only cryptocurrency camp in July. “They’ve seen digital money. Of the five students in her first camp, four had parents who own digital currency, she said. But already, she added, “A couple of them had a little crypto that their parents had bought for them.”At the Los Angeles camp, children displayed how much they already knew.
Persons: Whitt, Roberts, , , ” Roberts, Black, Isaiah Jackson, don’t, “ Bitcoin’s, Jackson, they’ve, Najah J, Crypto, Maggie Shannon, Shiba, Ciris Hendricks Organizations: Santa Monica College, America, NBC News, , Los Locations: U.S, San Francisco, San Pedro, Florida, Los Angeles, Covid,
WASHINGTON — Vice President Kamala Harris, after weeks of pressure from her political opponents, will visit the U.S.-Mexico border Friday, as part of her role addressing the root causes of migration. "[Harris' trip to the border] is really about building on the work that she has been doing. Republicans criticized Harris' decision to visit El Paso rather than other parts of the state like, the Rio Grande Valley, which see significantly more border crossings. Although partisan politics are likely to hang over Harris' trip Friday, she will also be forced to confront major policy issues. Rohini Kosoglu, domestic policy adviser to the vice president and one of Harris' longest serving aides, said that Harris "has spent her career fighting for immigrants."
Persons: WASHINGTON, Kamala Harris, Harris, Alejandro Mayorkas, Sen, Dick Durbin, Veronica Escobar, Sanders, Joe Biden, , Donald Trump, Greg Abbott, Jen Psaki, Abbott, El Paso, Trump, Biden, Tyler Moran, Rohini Kosoglu Organizations: El, El Paso Central Processing Center, Customs, Protection, Department of Homeland, Republicans, NBC, Texas Gov, House Republican, White, Republican, Biden, Domestic Locations: U.S, Mexico, El Paso, Illinois, Texas, Central America, Guatemala, Europe, Rio Grande, El, California, United States, Covid
Nike Gets Along Fine Without China, for Now
  + stars: | 2021-06-25 | by ( Jinjoo Lee | ) www.wsj.com sentiment -0.99   time to read: +2 min
But what that means in its two most important markets, the U.S. and China, is very different. Nike’s total revenue for the quarter ended May 31 grew 21% compared with the same quarter in pre-pandemic 2019. Sales in Greater China, Nike’s fastest-growing market, came in below expectations after a social-media backlash in that country. For the quarter, Nike’s China sales still rose 14% compared with the same period in pre-pandemic 2019. Nike seemed determined not to ruffle any more feathers on its earnings call on Thursday, simply referring to China’s slowdown as “marketplace dynamics.”
Persons: , Michael Binetti, Organizations: Nike Training Club, Credit Suisse, Nike, Nike’s, Adidas Locations: U.S, China, North America, , Greater China, China’s Xinjiang,
Democrats and Republicans alike agree that there’s been a serious spike in violent crime over the last couple of years — the highest in more than a decade. Biden deserves kudos for standing up to his party’s loud progressive wing and insisting on taking action before more Americans needlessly die. The White House’s fact sheet on Biden’s crime-fighting plan talks of “gun violence resulting from the pandemic,” “gun violence exacerbated by the pandemic” and “gun violence associated with the pandemic.” In fact, the homicide spike “actually began in 2019, prior to the pandemic,” noted the National Commission on Covid-19 and Criminal Justice, a bipartisan panel assessing the pandemic’s effect on the justice system. More Americans believe violent crime is a “very big problem” than think the same about the coronavirus, a recent Yahoo News/YouGov poll found. In fact, violent crime was respondents’ top concern, beating the economy and race relations.
Persons: there’s, Biden, Joe Biden, , , , , ” that’s, they’ve, Derek Chauvin, George Floyd, ” Biden, Bill de Blasio, Eric Adams, Maya Wiley, Adams, who’s, Dermot Shea Organizations: National Commission, Minneapolis City Council, New York Police Department, Democrats, Yahoo, defunded, USA, New, Democratic, NYPD Locations: America, Covid, Minneapolis, New York, New York City, Brooklyn
CNN obtained the excerpts which reportedly detail how top Gen. Mark Milley found himself as a voice of opposition. On multiple occasions, Trump reportedly suggested shooting protesters, according to the book. On multiple occasions inside the White House, Trump reportedly suggested shooting protesters. He also told members of his administration that he wanted the military to "beat the f--- out" of the protesters, CNN said, citing Bender's forthcoming book. "Well, shoot them in the leg — or maybe the foot," Trump reportedly said.
Persons: Mark Milley, Trump, rebuff, Donald Trump's, Michael Bender, Bender's, William Barr, Mark Milley Chip Somodevilla, Milley, Stephen Miller, Miller, Stephen, Mark Esper Organizations: CNN, Trump, Street, Joint Chiefs, Staff Locations: America, Washington
Athena says will install 1,500 cryptocurrency ATMs in El Salvador
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.97   time to read: +2 min
Eric Gravengaard, CEO of Athena Bitcoin Inc. shows the use of a Bitcoin ATM during a presentation ahead of a news conference in San Salvador, El Salvador June 24, 2021. REUTERS/Jose CabezasSAN SALVADOR, June 24 (Reuters) - Athena Bitcoin plans to invest over $1 million to install cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad, a company representative said on Thursday. The firm expects to gradually install some 1,500 ATMs, hire staff and open an office to carry out operations in El Salvador, which in June became the first country to adopt bitcoin as legal tender. El Salvador's President Nayib Bukele "presented us with a tough challenge of 1,500 ATMs, we will go for that, but in phases. "Initially we are going to bring dozens of machines, (we'll) test what the business model is like in El Salvador, which will probably be different than in the United States," Goldenhörn added.
Persons: Eric Gravengaard, Athena Bitcoin, Athena Bitcoin's, El, Nayib Bukele, America Matias Goldenhörn, Bukele, Goldenhörn, Nelson Renteria, Anthony Esposito, David Gregorio Our Organizations: Athena Bitcoin Inc, San Salvador , El, REUTERS, Jose, SALVADOR, America, International Monetary Fund, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, United States, El Salvador's El, San Salvador
The top tech analyst recommended playing the sector with a basket of cybersecurity stocks. That's compared to a 6.4% increase in cybersecurity spending in 2020. In a June 14 interview with CNBC, Bank of America CEO Brian Moynihan said that his company has massively increased cybersecurity spending over the past decade. In an interview with Insider, Wedbush's top tech analyst said the Colonial Pipeline and SolarWinds attacks were a "wake-up call" for governments and businesses around the world. Ives sees cybersecurity spending more than doubling from roughly 5% of budgets to between 10% and 15% over the next year.
Persons: Wedbush's Dan Ives, Ives, Brian Moynihan, Moynihan, Dan Ives, cyberattacks, Biden, Zscaler, Wedbushs Organizations: Gartner, Bank of America, CNBC, Colonial, Microsoft, Colonial Pipeline Locations: East, China, Russia
Rudy Giuliani appeared on Newsmax Thursday to discuss the suspension of his New York legal license. He was it came because he was so effective at arguing for Trump's bogus election-fraud claims. Rudy Giuliani has claimed that the suspension of his license to practise law in New York was part of a plot to silence him because he was so effective at arguing former President Donald Trump's election-fraud claims. Giuliani appeared on the right-wing Newsmax network hours after an appelate court in New York suspended his law license on Thursday. In explaining the decision to suspend Giuliani's license, the New York court on Thursday cited his promotion of Trump's election-fraud conspiracy theories.
Persons: Rudy Giuliani, Donald Trump's, Giuliani, Democrat Hillary Clinton, Joe Biden's, Biden's Organizations: Democrat Party, Democrat, Trump, New, New York, Southern, of, New York City, FBI Locations: York, New York, America, Arizona, Georgia, Pennsylvania, New, of New York, Ukraine
Opinion | America Is Getting Meaner
  + stars: | 2021-06-25 | by ( Timothy Egan | ) www.nytimes.com sentiment -0.99   time to read: +1 min
Instead of talking about what ails me, he wanted to talk about what ails us. After much steam had been let off, I wanted to say, Enough with American vitals — what about my own? Almost 40 percent of Americans have little or no confidence in newspapers, according to Gallup’s annual surveys — up from 24 percent in 2000. But the “press,” where free speech and all its cacophonous chaos reside, has been a punching bag for some time. Diminished confidence in elections is among the worst of the many awful legacies of Donald Trump.
Persons: Fauci, , Donald Trump Organizations: Trust
Harris visits U.S.-Mexico border amid criticism from Republicans
  + stars: | 2021-06-25 | by ( Nandita Bose | ) www.reuters.com + 0.00   time to read: +3 min
U.S. Vice President Kamala Harris delivers remarks at Clark Atlanta University in Atlanta, Georgia, U.S. June 18, 2021. It will be Harris' first visit to the border since becoming vice president five months ago. "The Vice President's trip to Guatemala and Mexico earlier this year was about the root causes, and this border visit is about the effects," Harris' spokesperson, Symone Sanders, said. During the trip, Harris said she would visit the border in the near future but was focused on "tangible results" and "opposed to grand gestures." As such, they are unlikely to stop their criticism of Biden's policies, even if Harris visits the border.
Persons: Kamala Harris, Jonathan Ernst WASHINGTON, Harris, Donald Trump, Symone Sanders, Theresa Cardinal Brown, Alejandro Mayorkas, Dick Durbin, Texas Veronica Escobar, Nandita Bose, Ted Hesson, Kieran Murray, Raju Gopalakrishnan Organizations: Clark Atlanta University, REUTERS, White, Reuters, Center, Department of Homeland Security, Democratic Representative, Thomson Locations: Atlanta , Georgia, U.S, Mexico, El Paso , Texas, Central America, Guatemala, California, United States, Washington, El Paso, Texas
Last year, during the height of the pandemic, Wall Street’s six largest banks earned a collective $81 billion. The main reason the biggest banks fared so well during the pandemic was the financial crisis. Fearing the effects of the pandemic, last year regulators told banks to preserve capital by suspending dividends and stock buybacks. Now that the banks have weathered the pandemic and passed this year’s stress test, these restrictions will be removed. An analyst at Barclays predicts that banks will pay out as much as $200 billion to shareholders in the next year.
Persons: Banks, Lehman Brothers Organizations: Bank of America, JPMorgan Chase, Fed, Barclays, Financial Services, Big Tech, titans Locations: Silicon Valley
The talent pool in the self-driving industry is limited and not as diverse as experts say it should be. Startup Aurora is looking to prioritize diversity and challenge bias in tech. Here's how its new VP of diversity is expanding and diversifying Aurora's talent. To ensure it has that diversity, Aurora recently hired its first Vice President of Diversity Equity and Inclusion. "So, I'm happy that we are working as a company to get people back into the workforce."
Persons: Sam Abuelsamid, Aurora, Corey Flournoy, Flournoy, , who've, Aurora's Organizations: Tech, Service, Diversity Equity, Aurora Locations: Groupon, America
CarMax (KMX) – CarMax shares rallied 5.9% in premarket trading after the auto retailer reported better-than-expected sales and profit for its latest quarter. Virgin Galactic (SPCE) – Virgin shares surged 11.5% in the premarket after the Federal Aviation Administration granted approval for Virgin to fly paying customers into space. The stock slid 3.9% in premarket trading. BlackBerry (BB) – BlackBerry shares added 1.3% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. Asana jumped 3.3% in premarket trading.
Persons: , – CarMax, CarMax, Fred Smith, JPMorgan Chase, Asana Organizations: Nike, – Nike, Revenue, Virgin Galactic, Virgin, Federal Aviation Administration, FAA, FedEx, Panasonic, Netflix, Credit Suisse, JPMorgan, Bank of America, Citigroup, Federal Reserve, New York Stock Exchange, , Suisse, UBS, Reuters . Credit Suisse Locations: Tesla, Wells Fargo, Asana, ASAN
S&P, Nasdaq futures at peaks ahead of crucial inflation report
  + stars: | 2021-06-25 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Brendan McDermidSummary Futures up: Dow 0.30%, S&P 0.11%, Nasdaq 0.18%June 25 (Reuters) - Futures tracking the S&P 500 and Nasdaq 100 indexes were near record highs on Friday, helped by gains in major U.S. lenders and a robust earnings forecast from Nike, while investors braced for the Federal Reserve's preferred inflation data. Nike Inc (NKE.N) surged 11% to a record high in premarket trading after the sneaker maker forecast fiscal full-year sales ahead of Wall Street estimates, helping Dow futures rise 0.3%. Inflation has been front-and-center of investors' minds, increasing scrutiny on personal consumption expenditures data at 8:30 a.m. ET (1230 GMT), which is likely to show a measure of underlying inflation surpassed the Fed's 2% flexible target. ET, Dow e-minis were up 102 points, or 0.3%, S&P 500 e-minis were up 4.75 points, or 0.11%, and Nasdaq 100 e-minis were up 25.25 points, or 0.18%.
Persons: Brendan McDermid, Goldman Sachs, Morgan Stanley, Wells, Joe, Jerome Powell, hawkish, Dow, Biden, Devik Jain, Medha Singh, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Nike, Federal, Nike Inc, Citigroup, Bank of America, JPMorgan, Fed, Dow e, FedEx Corp, United Parcel Service Inc, Russell, Thomson Locations: U.S, Bengaluru
More funds approved for COVAX vaccines, tighter access planned - statement
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
Workers offload the AstraZeneca/Oxford vaccines under the COVAX scheme against coronavirus disease (COVID-19) at the Aden Abdulle Osman Airport in Mogadishu, Somalia March 15, 2021. The total funds available to cover the cost of delivering the vaccines will rise to $925 million, GAVI said in a statement issued after a two-day board meeting. GAVI's board also set new terms for accessing vaccines, which will disincentivise middle-income nations from participating by insisting they pay for COVAX vaccines fully in advance next year. "Starting in 2022, the model will enable self-financing participants that rely on the facility to access doses to continue procuring vaccines through COVAX under revised terms and conditions," it said. However, the poorest countries, mostly in Africa and Southeast Asia, will keep the same conditions, with little or no costs to buy vaccines.
Persons: Omar GENEVA, GAVI, Stephanie Nebehay, Emma Farge Organizations: AstraZeneca, Oxford, REUTERS, World Health Organization, Reuters, Thomson Locations: Aden Abdulle Osman, Mogadishu, Somalia, India, Latin America, South Africa, Africa, Southeast Asia
David Haber is joining Andreessen Horowitz as general partner on its fintech investing team. Andreessen Horowitz is on a hiring spree, and David Haber is its latest get, joining as a general partner investing in fintech. Before Bond Street, Haber was an associate at Spark Capital, where he worked on investments in players like Plaid, Twitter, and Warby Parker. a16z is bullish on New York fintechHaber will stay in New York, making him the first general partner to join a16z without relocating to San Francisco. Haber will lead the firm's bullish take on the New York fintech scene.
Persons: David Haber, Andreessen Horowitz, Haber, Goldman Sachs, Anish Acharya, Alex Rampell, Angela Strange, Alexander Klabin, Rampell, Rampell didn't, a16z's, Goldman, Warby Parker, a16z, fintech Haber, Morgan Stanley's, It'll, Chris Dixon, Katie Haun, Tomicah Tillemann, Rachael Horwitz Organizations: fintech, a16z, Bond, Carta, Spark, Plaid, Twitter Locations: New York, Silicon, America, New, San Francisco, York, East
Zara shoppers are complaining about long lines and poor customer service at stores. "The levels of rudeness is uncalled for and the lines extremely long," one customer wrote on Twitter. Lines are ridiculous, customer service is terrible," one customer wrote on Twitter this month. "Myself and other customers are having the worst customer service experience in the downtown DC @ZARA. Invest in some customer service please," another shopper said.
Persons: Zara, Insider's Avery Hartmans, Neil Saunders, Saunders, Saunders isn't Organizations: Shoppers, Twitter, Service, Bank of America Locations: Zara, Yonkers
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry. Insider IntelligenceThe app solution can help Afterpay capture more volume and open a pathway to increasing revenues. Afterpay can further capitalize on a popular BNPL market. Here's how you can gain access:Join other Insider Intelligence clients who receive Payments & Commerce forecasts, briefings, charts, and research reports to their inboxes each day. >> Browse Our CoverageCurrent subscribers can access the entire Insider Intelligence content archive here.
Persons: isn't, Afterpay, doesn't Organizations: Intelligence, Payments & Commerce, Afterpay, Target, Nike, JPMorgan Chase, Citizens Bank, Commerce Locations: San Francisco, North America
Live Updates: Harris Will Visit the U.S. Border with Mexico
  + stars: | 2021-06-25 | by ( Katie Rogers | ) www.nytimes.com + 0.00   time to read: +9 min
Live Live Updates: Harris Will Visit the U.S. Border with Mexico Vice President Kamala Harris will visit a migrant processing center in El Paso during her first visit to the U.S.-Mexico border since taking office. Vice President Kamala Harris departed Joint Base Andrews for a trip to El Paso on Friday. Along with Ms. Escobar, Ms. Harris is traveling with Senator Dick Durbin, the chairman of the Senate Judiciary Committee who has been involved in past attempts at bipartisan immigration reform. Ms. Harris is also traveling with Alejandro N. Mayorkas, the secretary of homeland security. Greg Abbott of Texas days after Ms. Harris visits.
Persons: Will, Kamala Harris, Biden, Harris, Base Andrews, Jacquelyn Martin, Veronica Escobar, , We’ve, , Ms, Escobar, Dick Durbin, Alejandro N, Sanders, Lester Holt, Donald J, Trump, Greg Abbott, Trump’s, Mr, Abbott, Rohini Kosoglu, Rachel, Nev, Roger Kisby, Marco Rubio, Chris Impey, Impey, Mick West, West, ’ that’s Organizations: Mexico, Base, ., Associated Press, Customs, Protection, U.S, Democrat, El, Committee, U.S . Customs, El Paso Processing Center, NBC, Gov, Walmart, House Republicans, Mr, ” Intelligence, The New York Times, Navy, Republican, Senate Intelligence Committee, Congress, Pentagon, University of Arizona Locations: U.S, El Paso, Mexico, Mexico City, Guatemala, Europe, Texas, United States, United States of America, Area, Russia, China, Marco Rubio of Florida, U.F.O
Nike shares surged more than 13% Friday morning, on pace to open at a record high, after the sneaker maker forecast full-year sales topping $50 billion as its North American business rebounds from the lows of the pandemic. In North America, Nike's biggest market, sales more than doubled to a record $5.38 billion. Telsey raised its price target on Nike shares to $180 from $160. At least 12 brokerages have already raised their price targets on Nike shares, following the company's fiscal fourth-quarter release. According to FactSet, the median target price of analysts who cover the company is now $176.90.
Persons: John Donahoe, Jordan, John Kernan, Kernan, Cristina Fernández, Telsey, Fernandez, FactSet, Michael Binetti Organizations: Nike, Cowen, Co, Telsey Advisory, Credit Suisse Locations: American, Hong Kong, Greater China, Xinjiang, North America, China
401(k) investors may be using a robo-advisor — and not even know it
  + stars: | 2021-06-25 | by ( Greg Iacurci | ) www.cnbc.com + 0.00   time to read: +3 min
MoMo Productions | DigitalVision | Getty ImagesAmericans saving in a 401(k) plan may have money stashed in a robo-advisor — and they might not even know it. Companies offering a retirement benefit are increasingly enrolling employees into 401(k) plans automatically. "You get the momentum going," Keith Gredys, chairman and CEO of The Kidder Company in Clive, Iowa, who works with 401(k) plans and investors, said of automatic enrollment. TDFs and managed accountsAbout 66% of 401(k) plans guide those automatic savings into target-date funds, according to the Council, a trade group representing businesses that offer retirement plans. About 80% of 401(k) plans offer target-date funds, for example, up from 64% a decade ago, according to the Plan Sponsor Council of America.
Persons: MoMo, , Keith Gredys, TDFs, Philip Chao, They're, Chao, it's, There's, Chao doesn't Organizations: Getty, Companies, Finance, IRA, of America, Kidder, Council Locations: Clive , Iowa, John , Maryland
That's the fastest increase since the early 1990s, reflecting the rapid pace of U.S. economic expansion and resulting price pressures. (CNBC)The bipartisan infrastructure compromise includes $579 billion in new spending, with $312 billion of those funds going to transportation projects such as roads, bridges and trains. The plan also puts $266 billion into nontransportation infrastructure, including power, water and broadband internet. He was convicted of second-degree unintentional murder, third-degree murder and second-degree manslaughter. Didi anticipates pricing shares between $13 and $14 each, which would value the company at more than $60 billion.
Persons: Biden, Derek Chauvin, George Floyd's, Donald Trump, Nancy Pelosi, Rudy Giuliani, Michael Colglazier, Didi Organizations: Federal, CNBC, Democratic, Capitol, Authorities, Former Minneapolis, Police, NBC, U.S, New, Virgin, FAA, Virgin Galactic, New York Stock Exchange Locations: Miami, Surfside, America, New York
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