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☆ Tesla shareholders to vote whether Elon Musk deserves billions judge struck down
▼ + stars: | 2024-06-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —Tesla’s controversial CEO Elon Musk, and his massive wealth, are front and center in a shareholder vote this coming week. Now, Musk and the board want Tesla shareholders not only to vote again to give him back those stock options, but to relocate Tesla away from the judge’s state entirely. Despite the widespread support among shareholders back in 2018 for Musk’s pay package, the Tesla board seems to be scrambling to shore-up support for this month’s vote. But perhaps a more serious concern among Tesla shareholders is problems faced by the electric car pioneer itself. “When Tesla achieved targeted earnings, revenues, and market cap metrics, Tesla’s shareholders benefitted greatly.

Persons: New York CNN —, Elon Musk, Tesla, Chancellor Kathaleen McCormick, ” McCormick, “ Musk, McCormick, ” Tesla, Robyn Denholm, Elon, ” Rather, ”, ” Denholm, “, he’s, Dan Ives, it’s, they’re, Ives, Neuralink, Musk, ” Ives, Ron Baron, Baron Capital, ” Baron, Glass Lewis Organizations: New, New York CNN, SEC, Musk, Elon, Twitter, Wedbush Securities, SpaceX, The Boring Company, Baron, Institutional, Services Locations: New York, Delaware, Texas, Tesla’s Texas, “

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ A weaker dollar, skyrocketing prices and ‘record’ visitor numbers: Good luck in Europe this summer
▼ + stars: | 2024-06-08 | by ( Julia Buckley | ) edition.cnn.com time to read: +12 min

Hotel prices are exploding. As the owner of Destination Europe, she is sending “record numbers” of clients to the continent this year. There’s been such a huge demand for travel in the past three years, and lots of places are pushing up prices.”Is summer in Europe already a washout? Socrates Baltagiannis/picture alliance/Getty ImagesData from Hotel Monitor, American Express Global Business Travel’s annual analysis of worldwide hotel rates, backs his theory up. His prediction appears to be coming true: although the Amex GBT analysis predicted a 11% spike in Paris hotel rates this year, so far they have only risen 8%.

Persons: “ There’s, ”, Tom Jenkins, ” Kayla Zeigler, Graham Carter, “, There’s, you’re, it’s, Eric Gaillard, Reuters It’s, they’re, Eiffel, Hagia Sophia, Jenkins, Tim Hentschel, that’s, It’s, Milos, Hotelplanner's Tim Hentschel, Socrates Baltagiannis, Hentschel, haven’t, Conde Nast, Hayley Berg, Hopper, Berg, Jaime Reina, ‘, ’ ” They’re, Daniela Santanchè, ” Zeigler, Carter, –, Charles de Gaulle, ” They’re, Zeigler, ” –, – Berg, bookers, Henry Nicholls Organizations: CNN, European Tourism Organisation, Unforgettable, “, Reuters, Getty, Hotel Monitor, American Express Global, ”, AFP, Italy –, Games Locations: Europe, Bosnia, Bulgaria, Denmark, Iceland, Poland, Romania, Sweden, Switzerland, Czech, Hungarian, Ukrainian, Ukraine, Turkish, Hagia, Venice, Paris, Amsterdam, Dublin, Berlin, Stockholm, Barcelona, London, Murcia, Marbella, Windsor, Paddington, Rome, Athens, Venice’s, Mallorcan, Italy, Amalfi, Positano, Amalfi Coast, Puglia, Sicily, Slovenia, Croatia, Ireland, Portugal, France, airfare, London's, AFP

☆ Renewable energy will be the predominant power source for data centers, Nextracker CEO says
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The solar panels are part of the renewable energy sources that power Apple's European data center in Viborg. "There'll be some gas, but we believe based especially on the data published by the DOE, the predominant energy source for these data centers is going to be renewable energy," Shugar told CNBC in an interview Thursday. Whereas older data centers may have been 100 to 200 megawatts in size, some of the "monster data centers" today may be as big as 1,000 megawatts, Shugar said. Microsoft, for example, recently signed a massive renewable energy deal with Brookfield Asset Management. The companies described the agreement as the largest renewable energy deal signed between two corporate partners to date.

Persons: Christoph Dernbach, Dan Shugar, Lawrence, Shugar, Goldman Sachs, Goldman Organizations: Getty, Big Tech, Wall Street, Lawrence Berkeley National Laboratory, Department of Energy, U.S, DOE, CNBC, Goldman, Microsoft, Brookfield Asset Management Locations: Hanstholm, Denmark, Viborg, Nextracker, California

☆ The utilities sector is up 10% in 2024. These four names still have room to run, Morningstar says
▼ + stars: | 2024-06-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"We think the market was ignoring and underappreciating what utilities can accomplish," Travis Miller, energy and utilities strategist for Morningstar, told CNBC. Eric Holcomb announced that Microsoft will be constructing a $1 billion data center in La Porte, Indiana. Another name that is due to see a boost from AI data center growth is WEC Energy. The tech giant already has a data center that is under construction in the area, which is expected to open in 2026. "Microsoft's first data center represents 1,000 [megawatts] of electricity load, or over 10% of WEC's current load in the state," wrote Morningstar analyst Andrew Bischof in May.

Persons: Travis Miller, Morningstar, Entergy, Eric Holcomb, Miller, NiSource, Andrew Bischof Organizations: Morningstar . Utilities, CNBC, WEC Energy, Duke Energy, Indiana Gov, Microsoft, NiSource, WEC Locations: Morningstar, Thursday's, La Porte , Indiana, NiSource, Virginia, Mount Pleasant , Wisconsin

☆ UBS says this clothing stock is one of its top picks and has 40% upside
▼ + stars: | 2024-06-07 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

PVH , parent of the Calvin Klein and Tommy Hilfiger brands, should see strong earnings ahead, according to UBS. Analyst Jay Sole kept his buy rating and hiked his price target on the clothing maker by 9%, or $14, to $174, which implies a potential upside of 43%. "We think PVH has the brand strength and balance sheet to drive earnings growth over the long term," Sole said in a Thursday note. He forecast PVH delivering five-year earnings growing at a 10.5% compound annual growth rate and raised his FY26 earnings per share estimate to 4%. The company probably saw 65% of sales and nearly 90% of profits coming outside North America, Sole said, but should be able to drive U.S. sales growth moving forward.

Persons: Calvin Klein, Tommy Hilfiger, Jay Sole, Phillips, Van Heusen's, PVH, Sole Organizations: UBS Locations: North America

☆ FDA approves GSK's RSV vaccine for high-risk adults ages 50 to 59, expanding shot's reach
▼ + stars: | 2024-06-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

But the virus can also cause severe illness in adults 50 and up — or even younger — with underlying chronic conditions such as asthma, diabetes and congestive heart failure. GSK's shot won't reach that new patient population just yet. Safety data in adults ages 50 to 59 was also consistent with data in adults 60 and above, according to GSK. Regulatory agencies in Europe, Japan and other areas are currently reviewing GSK's application to expand Arexvy's approval to high-risk adults ages 50 to 59. GSK's shot is approved in nearly 50 countries, a spokesperson for the company told CNBC.

Persons: Phil Dormitzer, Dormitzer, Luke Miels, Arexvy, GSK's Organizations: Drug Administration, GSK, FDA, Centers for Disease Control, CNBC, CDC, Pfizer, Moderna, U.S Locations: British, Europe, Japan

☆ Virtual reality could unlock better treatment for psychosis — a use case that's gaining traction globally
▼ + stars: | 2024-06-07 | by ( Jake Hall | ) www.businessinsider.com time to read: +8 min

Some researchers are advocating the benefits of VR therapy for psychosis treatment. A clinical trial showed VR therapy reduced anxiety and agoraphobia in people with psychosis. Anywhere from 15 to 100 people out of 100,000 develop psychosis annually, according to the National Institute for Mental Health. AdvertisementThere's a growing body of research that demonstrates the efficacy of VR treatment, yet Bullock described healthcare providers as a "cautious group by nature." Despite reluctance among US healthcare providers, researchers in the UK, Hong Kong, Canada, and elsewhere are building a convincing case for VR treatment.

Persons: —, Daniel Freeman, Freeman, Kai Conibear, Conibear, It's, Kim Bullock, neuropsychiatrics, Bullock, who've, Jessica Wong, Wong, — Conibear Organizations: Service, Oxford University, National Institute for Mental Health, National Health Service, Stanford University, VR, Museum, hospital's Institute of Mental Health Locations: Tuen Mun District, Hong Kong, Canada

☆ Barclays Europe CEO: Peak inflation has passed
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarclays Europe CEO: Peak inflation has passedFrancesco Ceccato, CEO of Barclays Europe, says "inflation has indeed come off the peak of 10.6% in October 2022."

Persons: Francesco Ceccato Organizations: Barclays Locations: Barclays Europe

☆ Young job seekers are finding it tougher to find employment, despite a bustling labor market: 'It was brutal'
▼ + stars: | 2024-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

Larock's experience comes at a time when, at least on the surface, the jobs market has continued to glide along. But worries are growing that the labor market is beginning to show cracks. Welcome to the good news-bad news labor market, where the collective experience is positive but not as much for individuals in particular groups. "But the bad news is that new entrants to the labor market are faring less well," Peng added. While Peng characterized the jobs market as "strong overall," she said there are "soft soft spots" that are particularly hitting "new entrants to the workforce."

Persons: Samantha McCloud, Victoria Garcia, Jessel Rincon, Irfan Khan, Julianna Larock, Larock, Jacqueline Novogratz, Michael Novogratz, Julianna LaRock, nonfarm, It's, Goldman Sachs, Elsie Peng, Peng, Molly Huang, it's, Huang, David Pakula, Cory Stahle, Joanie Bily, Bily, grads, Ethan Mariano, Mariano Organizations: Temple City High School, Los Angeles Times, Investment Partners, University of Delaware, Fordham, Bureau of Labor Statistics, Goldman, Penn State University, Vanguard, Gettysburg College, American University, State Department Locations: Temple City , CA, Wilmington , Delaware, New York City, New York, Horsham , Pennsylvania, U.S, Washington ,, Hazleton , Pennsylvania

☆ Why a five-day return to office is unlikely, Stanford economist says
▼ + stars: | 2024-06-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The five-day, in-office workweek is antiquated for a large share of workers, a relic of the pre-pandemic job market. "Remote work is not going away," said Nick Bloom, an economics professor at Stanford University who studies workplace management practices. Remote work is not going away. Nick Bloom economics professor at Stanford UniversityHis research suggests workers value hybrid work about the same as an 8% raise. 'Firms care about profits, not productivity'In addition, hybrid work doesn't appear to have any negative impact on workers' productivity, Bloom said.

Persons: Justin Paget, Digitalvision, Nick Bloom, workdays, lockdowns, Nick Bunker, Martin, Bloom, Bunker, it's, flexibly Organizations: Stanford University, Research, Finance, Employers, U.S, McKinsey, University of Pittsburgh

☆ It may be time to take profits in this outperforming bank stock, according to the charts
▼ + stars: | 2024-06-06 | by ( David Keller | ) www.cnbc.com time to read: +4 min

Shares of Citigroup (C) have far outpaced the major equity benchmarks in 2024, gaining around 22% year-to-date versus the S & P 500's 13%. Soon after, the stock broke above its 40-week moving average, validating the strength of the rally off the October low. Then in February 2024, the stock pushed above the 150-week moving average, validating the strength and persistence of the uptrend phase. The weekly PPO indicator has since registered a sell signal, indicating that the previous uptrend phase is likely terminated. But a failure to regain the 50-day moving average in early June would mean the previous uptrend phase is most likely exhausted.

Persons: David Keller Organizations: Citigroup, RSI, CMT

☆ New York’s governor said congestion pricing would hurt the economy. Businesses disagree
▼ + stars: | 2024-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —New York was just a few weeks away from becoming the first American city to adopt congestion pricing, a system designed to alleviate traffic, reduce air pollution and fund public transit. Then, at the last minute, the governor lost her nerve, citing the dubious claim that it would hurt the working class. Many of the businesses that employ the workers Hochul claims to be protecting are disappointed with the decision. The price was supposed to be high enough to discourage drivers, but not so high that businesses would suffer. As the New York Times notes, congestion pricing has been wildly unpopular “in suburban areas of the Hudson Valley and Long Island where Democrats are desperate to make gains” in this election cycle.

Persons: CNN Business ’, Kathy Hochul, she’s, ”, Kathryn Wylde, Hochul’s, Hochul Organizations: CNN Business, New York CNN —, Broadway, Partnership, New, New York, Midtown, Yorkers, New York Times Locations: New York, York, Midtown, New York City, Singapore, London, Stockholm, bodega, Hudson, Long

☆ ‘The Whole World Smiles With You’ challenges the boundaries of Black art
▼ + stars: | 2024-06-06 | by ( Leah Dolan | ) edition.cnn.com time to read: +7 min

“These were the images that were easy for the art world to engage with. Akinkugbe hopes the exhibition shows the "sprawling" nature of Black figurative art. Courtesy Opera GalleryWhile public and institutional interest in Black art has been increasing steadily since 2008, attention and engagement is often inextricably linked to the news cycle. “I do think that in the art world, there was a huge reaction to 2020. “I think it could broaden someone’s idea of what Black art is.

Persons: London CNN —, tutu, Edgar Degas, Chicago, Thelonious Stokes, Stokes, Alayo Akinkugbe, ”, Louis Armstrong, ” Akinkugbe, George Floyd, Derek Chauvin, Akinkugbe, Adjei, Amoako Boafo, Noel Anderson’s, Jazz Grant, ” Noel Anderson, Michael, Leonardo da Vinci, Vermeer, David Hockney, Lucien Freud, Jenny Saville, Francis Bacon’s, Lucian Freud ”, “ I’ve, ’ Stokes, Jesus, “, reimaginings, ” Stokes, ArtNews, Morgan Stanley, “ It’s, We’ve, there’s Organizations: London CNN, Opera, CNN, Sound, Black Arts Movement, Harlem Locations: retiré ., London, Chicago, Florence, Minneapolis, Ghana, West Africa, African

☆ The real reason for copper's record-shattering rally, according to one trading firm
▼ + stars: | 2024-06-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Copper's rise to more than $11,000 a ton isn't supported by fundamentals, according to trading firm Trafigura. AdvertisementSupply and demand fundamentals haven't been enough to support copper's sky-high rally. Instead, the commodity's massive bull run is thanks to expectations of interest-rate cuts, according to the commodity-trading firm Trafigura. The pattern isn't exclusive to copper only, as other metals have also disassociated from their fundamentals in 2024, Rahim said. According to Bloomberg, Trafigura is an entrenched copper bull, forecasting in 2021 that the industrial metal could eventually hit $15,000 a ton.

Persons: —, Saad Rahim, Rahim, Trafigura, Jeff Currie Organizations: Service, Federal Reserve, Bloomberg

☆ The diamond industry is in trouble as it loses its sparkle in China
▼ + stars: | 2024-06-06 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

In China, the industry's second-largest market, lab-grown varieties, a sluggish luxury market, and low marriage rates are causing it to lose its sparkle. Related storiesCook said one issue is a shift in perception of lab-grown diamonds in the country. The Knot's Real Weddings Study found that nearly half of engagement rings bought in the US last year featured a lab-grown diamond as a center stone. A social media analysis by Daxue Consulting found that lab-grown diamonds are also gaining traction in China, particularly among cash-strapped younger people. Even so, De Beers recently announced that it would halt its six-year experiment with selling lab-grown diamond jewelry.

Persons: —, Duncan Wanblad, De Beers, Wanblad, Al Cook, Cook, Paul Zimnisky, Zimnisky Organizations: Service, Financial, Business, Financial Times, Daxue Consulting Locations: China, De Beers

☆ Skip the crowds in Positano and stay in one of these 5 Amalfi Coast towns instead
▼ + stars: | 2024-06-06 | by ( Laura Thayer | ) www.businessinsider.com time to read: +1 min

I've lived on the Amalfi Coast for 17 years and know of lots of great places to stay. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRoughly 5 million tourists flock to Italy's Amalfi Coast each year, many of whom choose to stay in popular towns like Positano. This story is available exclusively to Business Insider subscribers.

Persons: I've, — Organizations: Service, Business Locations: Amalfi Coast, Mare, Minori, Scala, Italy

☆ Israel Secretly Targets U.S. Lawmakers With Influence Campaign on Gaza War
▼ + stars: | 2024-06-05 | by ( Sheera Frenkel | ) www.nytimes.com time to read: +1 min

Israel organized and paid for an influence campaign last year targeting U.S. lawmakers and the American public with pro-Israel messaging, as it aimed to foster support for its actions in the war with Gaza, according to officials involved in the effort and documents related to the operation. The covert campaign was commissioned by Israel’s Ministry of Diaspora Affairs, a government body that connects Jews around the world with the State of Israel, four Israeli officials said. The campaign began in October and remains active on the platform X. At its peak, it used hundreds of fake accounts that posed as real Americans on X, Facebook and Instagram to post pro-Israel comments. The campaign also created three fake English-language news sites featuring pro-Israel articles.

Persons: Israel, Hakeem Jeffries, Raphael Warnock of Organizations: Israel’s Ministry of Diaspora Affairs, State, Facebook, Black Locations: Israel, Gaza, Tel Aviv, New York, Raphael Warnock of Georgia

☆ Op-ed: How Gen X can transform worrying about finances to flourishing
▼ + stars: | 2024-06-05 | by ( Preston D. Cherry | ) www.cnbc.com time to read: +5 min

It's a lot to deal with, and Gen X can struggle with juggling life and finances across multiple responsibilities. In many families, the transfer must come through Gen X first. About three-quarters (74%) of Gen X reported financial trauma, compared to 71% of millennials, 63% of boomers and 64% of Generation Z. So how can Gen X feel more confident about their current and future finances? Second, Gen X must believe that they can secure their future selves without depriving their current selves.

Persons: Ippei, —, X, Xers, Gen, Gen X, gripe Locations: Experian

☆ At 33, I was a new mom and couldn't move my hand. 3 years later, I got a diagnosis that changed everything.
▼ + stars: | 2024-06-05 | by ( Snehal Amembal | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. "Jellyfish doo doo doo doo doo doo," the line from "Baby Shark Dance" kept playing on loop as my 11-month-old son looked at me expectantly, wanting me to wiggle my fingers and dance along. Three years later, at 36, I received a formal diagnosis — now with two children, the oldest was 3 and my second son was 18 months. I was on maternity leave, and at the time, I was working as an HR manager for a private healthcare organization. What brings me absolute joy, though, is when my kids are asked what their mom does.

Persons: Snehal Amembal, YOPD, Parkinson's, credit's, Mr Parkinson's Organizations: Service

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ People are exiting the stock market in droves
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The US stock market is shrinking, and investors are pulling their money out at a near-record pace as storm clouds gather over the US economy. A shrinking market: The stock market isn’t the economy (for the most part). Fear is currently driving the US market, according to CNN’s Fear and Greed Index. “We really need to consider: Is this the outcome we want?”CEOs are making almost 200 times what workers areCEOs raked in fat pay packages last year as the US stock market boomed, reports my colleague Matt Egan. Economists were expecting job openings to register 8.36 million, according to FactSet estimates.

Persons: ”, Morgan Stanley, Lisa Shatlett, We’ve, Torsten Slok, Jamie Dimon, Dimon, “, Matt Egan, Bosses, Alicia Wallace Organizations: CNN Business, Bell, New York CNN, titans, Bank of America, Morgan Stanley Wealth Management, Federal, Dow, Apollo Global Management, Privately, JPMorgan, Associated Press, Workers, Bureau of Labor Statistics ’, Labor, Federal Reserve Locations: New York, Nantucket, That’s

☆ If the US doesn't win the electronic warfare fight, the joint force will 'lose' and 'lose very quickly,' Air Force commander says
▼ + stars: | 2024-06-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Read previewFuture wars could be decided by electronic warfare like Russia and Ukraine are using right now to interrupt communications, defeat unmanned platforms, and even degrade precision weaponry. For the US, if it doesn't dominate that invisible domain and win the fight in the electromagnetic spectrum, it will "lose" and do so "very quickly," an Air Force wing commander said. Gen. Ed Barker, the Program Executive Officer for Intelligence, Electronic Warfare and Sensors, and US Air Force Col. Josh Koslov, commander of the 350th Spectrum Warfare Wing, discussed the challenges facing the US in the electronic warfare space and the efforts to find solutions to these problems. Related VideoA man holds a portable electronic warfare system at an event in Ukraine earlier this year. Increased US interest in it more recently has been driven by the ongoing conflict in Ukraine, where electronic warfare tactics, such as GPS spoofing and signal jamming, have shaped the fighting.

Persons: —, Ed Barker, Josh Koslov, Koslov, Barker, Simon Mictizic, it's, Daniel Patt, YURIY DYACHYSHYN, Patt, Denis Abramov Organizations: Service, Air Force, Business, C4ISRNET Conference, US, Intelligence, Electronic Warfare, US Air Force, 350th Spectrum Warfare, Getty, US Army's 1st Infantry Division, US Army, Staff, Hudson Institute, JDAMs . Volunteers, Ukrainian, Kvertus, Russian Defense Ministry, Mil.ru Locations: Russia, Ukraine, China, JDAMs, Lviv region, AFP, Russian

☆ India’s Stock Market Tumbles on Close-Run Election Result
▼ + stars: | 2024-06-04 | by ( Alex Travelli | ) www.nytimes.com time to read: +1 min

Investors looking to India yearn for political stability and many have done especially well during the first 10 years of Mr. Modi’s pro-business leadership. Even after Tuesday’s decline, the blue-chip Nifty 50 index has nearly tripled since Mr. Modi became prime minister. But the Indian market’s main indexes have entered choppier waters on the way to the election. Some companies, namely those considered “Modi stocks,” fared especially poorly as the election result came into view. Gautam Adani rapidly became Asia’s richest man, as his infrastructure-oriented businesses worked in harmony with Mr. Modi’s plans for the country.

Persons: Narendra Modi, Modi, Modi’s, “ Modi, Gautam Adani Organizations: Adani, Adani Enterprises Locations: Mumbai, India

☆ Job market is still strong but has 'gotten competitive' for applicants, economist says
▼ + stars: | 2024-06-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

"This is still a strong labor market." The U.S. Federal Reserve raised borrowing costs to pump the brakes on the economy and labor market, ultimately to throttle back inflation. watch nowThere are indicators the U.S. job market remains strong and resilient despite headwinds, economists said. The national unemployment rate has been below 4% — a level indicating historical labor market strength — since February 2022. The current job market is more sustainable, she said.

Persons: Julia Pollak, Don't, Thomas Ryan, it's, Pollak, ZipRecruiter Organizations: SDI, U.S . Federal Reserve, Labor, Capital Economics, Workers, Federal Reserve Locations: North America

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