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12 mentions found


☆ Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely.
  + stars: | 2024-04-03 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +7 min
Interest in universal basic income has grown due to the pandemic, Elon Musk, Sam Altman, and economic pain. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYet a common question and concern about UBI remains how people spend the money. Related storiesThe Guaranteed Income Pilots Dashboard , a joint project from the Stanford Basic Income Lab and the Center for Guaranteed Income Research, pulls together data from more than 30 pilot programs in the US involving nearly 8,300 participants. GiveDirectly, a nonprofit, is providing universal basic income to 20,000 people across 200-odd royal villages in Kenya over 12 years.
Persons: Elon Musk, Sam Altman, —, It's, Karl Widerquist, Fabian Wendt, Rebecca Hasdell, UpTogether, Monique Gonzalez, Stephanie Hendon, Widerqist, Matt Bruenig, Douglas MacKay, Chapel Hill, MacKay Organizations: Service, Georgetown University, Qatar, Stanford, Income, Center, Research, UNC, Chapel Locations: Virginia, Kenya, San Antonio , Texas
☆ San Antonio experimented with giving people $5,108 no-strings-attached. They spent it on housing and school supplies for their kids.
  + stars: | 2024-03-14 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com   time to read: +8 min
Read previewWhen Monique Gonzalez received her money from the San Antonio guaranteed basic income pilot, she bought school supplies, shoes, and Christmas gifts for her children. San Antonio is one of several cities nationwide piloting guaranteed basic income programs. Ingrid Sullivan, a participant with four children and three grandchildren, told UpTogether that basic income allowed her to secure housing and reliable transportation. San Antonio participants also told UpTogether that the GBI payments significantly improved their mental health. Have you benefited from a guaranteed basic income program in San Antonio or elsewhere?
Persons: —, Monique Gonzalez, Gonzalez, UpTogether —, UpTogether, Ingrid Sullivan, Sullivan, GBI, Austin, Stephanie Hendon, she's, Jessica Nairns, Texas State Sen, Paul Bettencourt, John Gillette Organizations: Service, San Antonio, Business, Houston, Austin, Urban Institute, Texas State, Republican, House, Republicans Locations: San Antonio, Denver, Austin, Boston, Minneapolis, Durham, City, Antonio, Texas, Harris, City of Austin, Washington ,, Harris County, Dakota, Iowa, In Arizona, Arizona, Flint , Michigan
☆ Why Republicans are fighting the basic-income programs many cities and states are adopting: 'Is money a birthright now?'
  + stars: | 2024-03-03 | by ( Noah Sheidlower | Allie Kelly | ) www.businessinsider.com   time to read: +9 min
Read previewAs guaranteed basic-income programs get more popular, opposition is also on the rise. Several lawmakers, like Arizona's Gillette, believe that income programs would discourage work and could raise taxes. A recently introduced bill in South Dakota would ban basic-income programs at the state level and prevent municipal governments from creating local programs. AdvertisementDespite opposition, basic-income program participants have seen benefitsPilot income programs have remained divisive with policymakers, but several major cities have seen positive results. In 2020, former Twitter CEO Jack Dorsey pledged $15 million to Mayors for a Guaranteed Income, which helped 25 cities and towns nationwide begin basic-income programs.
Persons: —, Dia Broncucia, Justin Searls, John Gillette, Gillette, Arizona's Gillette, Lupe Diaz, Steve Holt, Skyler Wheeler, Sen, John Wiik, Paul Bettencourt, Bettencourt, Harris, I've, Ivanna Neri, Neri, UpTogether, Tony Evers, Austin, Stephanie Hendon, Louis, Jack Dorsey, Mark, Anthony Middleton Organizations: Service, Business, Income, Austin, BI, Republican, Republicans, GOP, Social Security, Iowa GOP, Houston Public Media, Gov, Madison Forward Fund, Madison Locations: Denver, Arizona, Arizona , Iowa, South Dakota , Texas, Wisconsin, Phoenix, Iowa, South Dakota, Texas, Houston, UpTogether, Harris, Madison, Minneapolis , Northern Virginia, Boston, St, Oregon, Durham
☆ Instead of chasing Nvidia, investor buys these misunderstood, cheap growth stocks for big returns
  + stars: | 2024-02-28 | by ( Pia Singh | ) www.cnbc.com   time to read: +6 min
In a market bedazzled by flashy growth stocks, Torray Investment Partners instead runs a fund that's trying to redefine what value is. The Torray Fund , founded by the late Robert Torray in 1990, is ahead 7.4% so far this year, outpacing the 6.5% gain in the S & P 500. Apart from the Torray Fund, the firm manages four other concentrated portfolios that also hold between 20 and 30 companies. These portfolios are separately managed accounts of either concentrated large growth companies, small- and mid-capitalization growth names, large value companies and equity income. Compared to other large value funds, Torray is overweight in all three.
Persons: iShares Russell, Jeffrey Lent, Robert Torray, Berkshire Hathaway, Morningstar, Lent, Shawn Hendon, Eaton, McLennan, Hendon, Torray, it's Organizations: Torray Investment Partners, Value, Torray, Russell, Berkshire, American Express, Marsh, Financial, Morningstar, Applied Materials, Qualcomm, Nvidia Locations: Eaton, Berkshire
☆ Austin gave low-income residents $1,000 a month with no strings attached. One participant said the payments helped her get her first permanent apartment.
  + stars: | 2024-02-24 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +9 min
The program provides $1,000 monthly to low-income families, who spent much of their payments on housing. She applied for the Austin Guaranteed Income Pilot, which gave 135 low-income families $1,000 monthly with funding from the City of Austin and philanthropic donations. An analysis by the Urban Institute think tank found that participants predominantly spent their $1,000 payments on housing and food. Still, the Austin pilot — and dozens of others nationwide — have not been entirely successful for every participant. I'm working, and when I got down here, I landed a job within a month," Hendon said.
Persons: Stephanie Hendon, —, Austin, Jessica Nairns, Ivanna Neri, Hendon, bachelor's, Stephanie Hendon Stephanie Hendon, We're, didn't, I'm Organizations: Austin, Service, Urban Institute, Hendon Locations: Austin, City of Austin, Texas, Austin's, UpTogether, Detroit, Hendon, Michigan
☆ UK inflation holds steady at 4%, lower than expected
  + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
Karl Hendon | Moment | Getty ImagesLONDON — U.K. inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Economists polled by Reuters had produced a consensus forecast of 4.2% year-on-year for January and -0.3% for the month. The CPI goods annual rate slowed from 1.9% to 1.8%, but price pressures in the services industry remained hot, with the CPI services annual rate rising from 6.4% to 6.5%. The U.K. has lagged its peers in bringing down inflation, but the headline CPI has been on a general downward trajectory since the October 2022 peak of 11.1% year-on-year. The labor market and wage growth have meanwhile eased but will remain uncomfortably robust for a central bank aiming to drag inflation back to its 2% target.
Persons: Karl Hendon, Jeremy Hunt, Marion Amiot Organizations: London, Euromonitor International, Karl, Reuters, National Statistics, Bank of England, Finance
☆ Odey Asset Management to close, website statement reads
  + stars: | 2023-10-31 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +2 min
Hedge fund manager Crispin Odey uses his phone outside of Hendon Magistrates' Court whilst facing one charge of indecent assault, in Hendon, London, Britain February 17, 2021. REUTERS/Toby Melville/ File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Odey Asset Management, one of Britain's best known hedge funds, will shut, it said on Tuesday in a statement on its website, less than six months after its founder faced fresh allegations of misconduct. Crispin Odey, 64, was ousted in June from Odey Asset Management (OAM), which he founded in 1991, after the Financial Times and Tortoise Media reported that 13 women had alleged that he had sexually assaulted or harassed them. Where each fund manager would move, or if their fund was closed without finding an alternative home, was detailed on the hedge fund's website. No new fund manager for Sophia Whitbread, the only female portfolio manager listed, was named.
Persons: Crispin Odey, Toby Melville, Odey, James Hanbury, Jamie Grimston, Oliver Kelton, Freddie Neave, Geoffrey Marson, Canaccord Genuity, Adrian Courtenay, Green, Sophia Whitbread, Peter Martin, Nell Mackenzie, Alun John, Mark Potter Organizations: Hendon Magistrates, REUTERS, Odey, Management, Odey Asset Management, Financial Times, Tortoise Media, Asset Management, Lancaster Investment Management, Reuters, Inc, Bainbridge Partners, Thomson Locations: Hendon, Hendon , London, Britain, S.W, Mitchell
☆ AP Top 25 Reality Check: Florida, Florida State, Miami Ranked Together for 1st Time Since 2017
  + stars: | 2023-09-18 | by ( Associated Press | Sept. | At P.M. | ) www.usnews.com   time to read: +8 min
☆ As Gen Z flounders at work and millennials struggle to buy a house, boomers are enjoying a golden moment
  + stars: | 2023-04-09 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com   time to read: +4 min
This week's dispatchThe Metals Company; Greenpeace; Luis Alvarez/Getty Images; Karl Hendon/Getty Images; Alyssa Powell/InsiderOptimists don't just dream — they do. Gen Zers and young millennials have soured on work just as much as everyone else — and that's bad news for companies everywhere. Also read:Tyler Le/InsiderOver the past few years, Lex Fridman has gone from an unknown academic researcher to a social-media celebrity and member of Elon Musk's inner circle. But recently, "The Lex Fridman Podcast" has become a haven for a growing and powerful sector looking to dismantle years of "wokeness." More on the rise of Lex Fridman.
☆ Travel abroad is poised 'for a big comeback' in 2023 as Americans eye trips to Asia, Europe
  + stars: | 2022-12-25 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +6 min
Jackyenjoyphotography | Moment | Getty ImagesAmericans are poised to travel overseas in a big way in 2023. Why travel abroad is poised 'for a big comeback'D3sign | Moment | Getty ImagesThirty-one percent of Americans are more interested in international than domestic travel, according to a recent poll by tourism market research firm Destination Analysts. It cited international travel among the top three trends for 2023, saying it's poised "for a big comeback." Karl Hendon | Moment | Getty Imageswatch nowWhere travel is ramping up mostHo Chi Minh City, Vietnam. Global demand for travel has played out similarly, with most interest directed at Europe and Asia, according to Expedia data.
☆ Fact Check-Video shows concrete placing boom being set down on London construction site, not an anti-aircraft gun
  + stars: | 2022-10-11 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +1 min
!”Reuters geolocated the construction site to the southbound A5 road in Hendon, northwest London (bit.ly/3yzx3Ci). They also said via email that the company “has not” installed an anti-aircraft gun on the construction site. The object being lowered in the video “is a concrete placing boom. Similar pictures of concrete placing booms can be found here and here. The video shows a concrete placing boom, according to the construction company in charge of the site.
☆ Odey's hedge fund soars 145% on bets against UK bonds - sources
  + stars: | 2022-09-22 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +2 min
REUTERS/Henry NichollsLONDON, Sept 22 (Reuters) - Crispin Odey, one of Britain's best-known hedge fund managers, has made a killing this year by wagering against British government bonds, with his firm's main fund up 145% in 2022 after shorting long-dated UK debt, sources said on Thursday. The UK 10-year gilt yield hit 3.392% on Thursday, its highest since July 2011, after the Bank of England lifted rates and said it would soon start selling government bonds. His fund's largest notional exposure is betting against very long dated bonds, some as far out as 2071, the source said. He is known for a volatile performance, with his fund regularly posting double-digit annual gains or losses. His flagship fund experienced its worst-ever losses of almost 50 percent in 2016, a year that Odey has since described as awful.
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