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☆ Shares of Australian fast-food chain Guzman y Gomez soar 39% on trading debut
▼ + stars: | 2024-06-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An exterior view of the Guzman Y Gomez Mexican Kitchen on June 13, 2024 in Port Macquarie, Australia. Mexican-themed fast-food chain Guzman y Gomez made a stellar debut on the Australian Stock Exchange on Thursday, with its shares soaring as much as 39.1%. Guzman y Gomez, which first announced its IPO on May 31 with an offer size of 11.1 million shares, upsized it to 15.3 million shares, raising AU$335.1 million. Guzman y Gomez's IPO is Australia's largest since chemical distributor Redox's offering in July 2023 and the fourth offering above $100 million in the past two years, according to Bloomberg. Barrenjoey and Morgan Stanley were the joint bookrunners for Guzman y Gomez's IPO.

Persons: Guzman Y Gomez, Guzman y Gomez, Guzman y, Barrenjoey, Morgan Stanley, Guzman Organizations: Australian Stock Exchange, Capital Research Global Investors, Bloomberg, Guzman y Locations: Port Macquarie, Australia, Sydney, Singapore, Japan, United States

☆ 3 surprising things people think are OK to do on planes, according to a poll
▼ + stars: | 2024-06-20 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +4 min

The seatbelt light. Pete Syme/Business InsiderKeep your seatbelt onSpeaking of unbuckling seat belts, 47% of respondents said it is acceptable to do so when the seatbelt light is switched off. AdvertisementI think there's a fundamental disconnect between what switching off the seatbelt light means to the flying public and what it actually means. Switching off the light means passengers may now safely get up to use the lavatory or retrieve something from the overhead compartment. Even though aircraft are vacuumed in fairly frequent intervals, their carpets see a lot of passengers between more thorough cleanings.

Persons: —, Pete Syme, it's, Ming Tung Organizations: Service, Business, Air, Toronto Locations: Air France

☆ These 4 US regions will see electricity bills increase the most this summer
▼ + stars: | 2024-06-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The average monthly US electricity bill this summer will be 3% higher than last year, the EIA says. AdvertisementThe possibility of a warmer-than-typical summer will make energy prices higher, the US Energy Information Administration said in a new report. The EIA finds that the average US electricity bill from June through August will be $173, a 3% climb over last year. The biggest dollar-amount increase will be seen in Mid-Atlantic states, where the average bill will rise by $14, the EIA said. In September, a Texas heat wave sent spot electricity prices up 20,000% and caused the state's grid operator to issue an emergency.

Persons: —, it's Organizations: EIA, Service, US Energy Information Administration, East South Central, East, Energy Information Administration, Utilities, West South Central, West Locations: New England, Pacific, East, East North Central, America, West South Central, Texas

☆ Stock market today: Record-setting rally stalls as Nvidia slides and economic data softens
▼ + stars: | 2024-06-20 | by ( Max Adams | Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks closed mostly lower Thursday, ending a long streak of gains for the S&P 500 and the Nasdaq. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Nvidia dragged the market lower as the tech giant dropped 3% after rising as much in early morning trading. The S&P 500 climbed above 5,500 for the first time ever on Thursday before dipping back below that level. Advertisement"At the same time, labor market indicators like initial and continued jobless claims are weakening.

Persons: —, Bill Adams Organizations: Nasdaq, Nvidia, Traders, Service, Dow Jones, Comerica Bank

☆ Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
▼ + stars: | 2024-06-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. The latest sinking is likely to have led to another death, according to a statement Wednesday from more than a dozen shipping associations, including the International Chamber of Shipping and the World Shipping Council. The longer diversion around the southern tip of Africa has sent shipping costs soaring and is causing congestion at ports in Asia and Europe, threatening to scramble global supply chains. We call for states with influence in the region to safeguard our innocent seafarers and for the swift de-escalation of the situation in the Red Sea,” they added. “Houthi attacks continue to make the Red Sea unsafe, and increases in charter activity and rates indicate carriers expect congestion to remain a factor for some time,” he added.

Persons: ”, “, Hapag Lloyd, Judah Levine Organizations: London CNN, International Chamber of Shipping, World Shipping Council, Maritime Trade, Royal Navy, Shipping, Maersk, Drewry, Carriers Locations: Red, Africa, Asia, Europe, ., Yemen, Gaza, Suez, London, Red Sea, Singapore, Malaysia, Shanghai, China, Barcelona, Spain

☆ The US debt will surge to $56 trillion in the next 10 years as government spending outpaces revenues
▼ + stars: | 2024-06-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The national debt will keep soaring over the next 10 years, according to the CBO. The agency estimates the national debt will rise to $56 trillion by 2034. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US's $34 trillion debt mountain isn't shrinking anytime soon. The latest estimates reflect a steeper pace of government borrowing than predicted in the previous quarter.

Persons: — Organizations: CBO, Service, Congressional, Office

☆ CNBC Pro Talks: Fund manager reveals how to invest after India’s election
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

How do investors trade volatile Indian markets after the country's surprising election result? Jayaraman manages Causeway's Emerging Markets Fund and International Opportunities Fund. The portfolio manager would focus on the small- to mid-cap segment of the Indian market, he told CNBC Pro Talks on June 19. "Since India is a strong secular growth market, we would say the mid and small-cap [market] is the place to be. With many international investors not able to access Indian stocks easily, Jayaraman also named a few ETFs that he likes.

Persons: Arjun Jayaraman, Narendra Modi's, Jayaraman Organizations: Markets Fund, International, Fund, MSCI, CNBC, REC Locations: bullish, India, South Korea, Taiwan, U.S

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

☆ Opinion: Juneteenth, Haiti and the power of reinvention
▼ + stars: | 2024-06-19 | by ( Opinion Nadine Pinede | ) edition.cnn.com time to read: +11 min

Juneteenth is a celebration of that hard-fought Black freedom, observed in honor of June 19, 1865 when slaves in Galveston, Texas, first learned from Union soldiers that they were free. Like my parents growing up in Haiti, she was used to seeing Black people in positions of power. She had freed herself from unjust rules meant to restrict education for Black Americans. Mark Felix/AFP/Getty ImagesIn Haiti, Hurston’s creative powers had the time and freedom to unfurl. As the author of “Barracoon,” a book based on interviews with one of the last enslaved Black Americans, Hurston almost certainly understood the significance of Juneteenth.

Persons: Nadine Pinede, ”, Nadine Pinede Sophie Kandaouroff, Lincoln, Juneteenth, “, Jim Crow, Zora Neale Hurston, Hurston, Lynne Sladky, she’d, Little, Barnard, Langston Hughes, Hurston unapologetically, Zora, Mark Felix, Lucille, Toussaint Louverture, Jean, Jacques Dessalines, Henri Christophe, Alice Walker, Walker Organizations: Scholastic Education, Haiti Noir, CNN, Union, Black, Black American, La Force, Howard University, Barnard College, Harlem Renaissance, verve, Guggenheim Fellowship, Guggenheim, Getty, La, Magazine Locations: Haiti, ”, Haitian, Galveston , Texas, Africa, Texas, Caribbean, France, United States, Black, American, Eatonville , Florida, Miami , Florida, Little Haiti, Baltimore, Washington, New York City, Jamaica, AFP, Long

☆ Opinion: Putin’s North Korea visit comes at a crucial moment
▼ + stars: | 2024-06-18 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and senior columnist for World Politics Review. CNN —When Russian President Vladimir Putin arrives in North Korea on Tuesday, it will kick up yet another gust in the recent swirl of diplomatic activity surrounding Russia’s all-out war against Ukraine. The allies have good reason to believe Putin aims to outlast Western support. South Korean intelligence estimates that North Korea has delivered as many as 5 million artillery rounds, along with ballistic missiles and other ammunition. Putin, meanwhile, will visit one-party ruled Vietnam later this week, not exactly a military powerhouse, but at least one country that is not backing Ukraine.

Persons: Frida Ghitis, Read, Vladimir Putin, Moscow –, Ukraine’s, –, Putin, Donald Trump, Putin’s, Putin –, Trump, wouldn’t, he’d, Ursula von der Leyen, Olaf Scholz, Mark Rutte, ”, Volodomyr Zelensky, Hitler, Joe Biden, Biden, Zelensky Organizations: CNN, Washington Post, Politics, Ukraine, Frida Ghitis CNN, North, Kyiv, White, European, Dutch, Peace, Biden, Trump acolytes, Republican, Zelensky, NATO Locations: North Korea, Pyongyang, Moscow, Kyiv, Ukraine, Putin’s Russia, Iran, Russia, China, Europe, Cuba, Russian, Normandy, Western, Italy’s Puglia, Switzerland, Korea, Germany, Ukrainian, Puglia, “, Washington, Vietnam

☆ Nvidia set to overtake Apple in $72 billion technology ETF shakeup after its monster 164% rally this year
▼ + stars: | 2024-06-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia is set to surpass Apple in a major technology ETF, triggering a $23 billion trade later this month. Microsoft, Apple, and Nvidia are all worth more than $3 trillion amid an ongoing AI-fueled tech boom. AdvertisementNvidia is poised to overtake Apple in one of the biggest technology ETFs later this month, sparking a massive $23 billion trade. A diversification rule in the tech ETF has limited the concentration of the fund in a big way. With Nvidia set to take the second spot from Apple, it will spark a massive combined trade worth more than $20 billion.

Persons: — Organizations: Nvidia, Apple, Microsoft, Service, Business, Bloomberg News, Bloomberg

☆ The 91-year-old owner of the iconic Hollywood Arby's has closed the restaurant after 55 years due to the pandemic and California's $20 minimum wage
▼ + stars: | 2024-06-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

"Truth is, I think it was the pandemic that did us in," 91-year-old owner Marilyn Leviton told KTLA-5. California's $20 minimum wage for fast-food workers and a need for new equipment also led to the restaurant's closure, she said. AdvertisementBeef sandwich chain Arby's has closed its restaurant on Hollywood's Sunset Boulevard after 55 years of operating under one owner. California raised its minimum wage for workers at quick-service restaurant chains to $20 an hour in April — 25% more than the state's general minimum wage. Speaking about the closure of her restaurant, Leviton said: "I'm awfully sorry that it came to this."

Persons: Marilyn Leviton, —, Leviton, Rich Fury, Arby's Organizations: KTLA, Service, Local, Business Locations: California, —

☆ The cost of sports content is soaring — and it could mean big cuts in Hollywood budgets
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Read previewSports has increasingly become the star of the show for big TV companies, and its ascent is sending a shiver down Hollywood's spine. AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

Persons: —, Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE

☆ Nvidia jumps past Microsoft to become the world's most valuable company
▼ + stars: | 2024-06-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia on Tuesday claimed the top spt as the world's most valuable company. Shares of the chip maker rose 4%, helping it edge past Microsoft's market cap. AdvertisementNvidia stock rose 4% on Tuesday, helping push its market capitalization past that of Microsoft to claim the title of the world's most valuable company. The chip maker on Tuesday boasted a market value of $3.338 trillion, edging out Microsoft's $3.326 trillion market cap by just $12 billion. Nvidia stock hit an intraday-high of $136.25 Tuesday afternoon.

Persons: —, ChatGPT Organizations: Nvidia, Tuesday, Service, Microsoft, Apple, AMD

☆ Hollywood is facing a dire threat: sports
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

☆ Why These Chinese Working Mothers Don’t Want More Babies
▼ + stars: | 2024-06-18 | by ( Isabelle Qian | ) www.nytimes.com time to read: +7 min

Her boss, a woman who had been advocating for her to be given a leadership role, left the team while Ms. Zhao was on a five-month maternity leave. After college, Ms. Zhao set aside her dream of becoming a civil servant to pursue a higher-paying job. (Nearly a third of Chinese women have college degrees now, up from fewer than 1 percent in 1990.) Six months after Ning was born, Ms. Tang returned to her office, leaving the baby in the care of a grandmother. Her husband and in-laws oppose the move, but Ms. Tang doesn’t want to be held back.

Persons: doesn’t, Xi Jinping, —, ” Joyce Zhao, Joyce Zhao, Ming, Zhao, Ms, “, Ming’s, ” Ms, ”, ” Guo Chunlei, Guo Chunlei, Guo, Tianyi, ” Tang Pingjuan, Tang Pingjuan, Tang, Ning, Tang doesn’t Locations: Beijing, China, Hangzhou, Guangzhou, Shenzhen

☆ How Eli Lilly is managing soaring demand for GLP-1s, according to outgoing CFO Anat Ashkenazi
▼ + stars: | 2024-06-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Skyrocketing demand for a class of weight loss and diabetes treatments has lifted Eli Lilly to new heights over the last year. But the drugmaker has much more work it wants to do with that hard-won success, outgoing Chief Financial Officer Anat Ashkenazi told CNBC. Ashkenazi took over as CFO at Eli Lilly in 2021 after roughly two decades with the pharmaceutical giant. Her tenure hasn't come without challenges: Eli Lilly and rival Novo Nordisk have both struggled to manufacture enough supply of their treatments to meet unprecedented demand, causing nationwide shortages of those drugs. Eli Lilly does not expect to match the pace of demand this year and maybe not even in 2025, Ashkenazi said at a conference in March.

Persons: Eli Lilly, Anat Ashkenazi, Eli, Zepbound, Ashkenazi, Eli Lilly's Organizations: CNBC, Novo Nordisk

☆ What’s next for the stock market? Here’s one thing you could do if shares start sinking
▼ + stars: | 2024-06-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. Do you expect some of the cash that’s on the sidelines to enter the stock market?

Persons: Price, Wall, Bell, Jack Janasiewicz, Jerome, Powell, we’re, it’s, wouldn’t, you’re, Hilary Whiteman, Read, Sam Altman, Steve Wozniak, OpenAI, Altman, Samantha Murphy Kelly, Tim Cook, ”, Ben Wood, “ Apple, Siri Organizations: CNN Business, Bell, New York CNN, Federal, Nasdaq, Fed, Traders, Solutions, You’re, Apple, Insight, CNN, Apple Intelligence Locations: New York, United States, West Coast, Hawaii, California, San Jose , Los Angeles, San Francisco, San Diego, Honolulu, Australia, Sydney, Melbourne, Victoria, Adelaide, South Australia

☆ What Warren Buffett said about GameStop mania then, as the frenzy returns in 2024
▼ + stars: | 2024-06-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Meme stock and erstwhile videogame retailer GameStop is back in the limelight as Reddit ringleader Roaring Kitty stirs up another trading frenzy. Warren Buffett commented at length about the speculative behavior during the first GameStop mania in 2021. Then, the "Oracle of Omaha" called the stock market a gambling parlor for retail investors, encouraged by Wall Street's investment banks and brokerages. "It's become a very significant part of the casino group that has joined into the stock market," Buffett said at 2021's Berkshire annual meeting . Options trading in GameStop exploded after Roaring Kitty, whose legal name is Keith Gill, touted his large positions in those risky vehicles.

Persons: Kitty, Warren Buffett, Wall, It's, Buffett, They've, Keith Gill, John Maynard Keynes Organizations: GameStop, Berkshire, Citadel Securities Locations: Omaha

☆ How Apple, Microsoft and 3 other tech giants can make money with AI geared to consumers
▼ + stars: | 2024-06-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +10 min

(Expected AI-driven device upgrades from Apple, Microsoft, and other personal tech makers is the reason we're invested in Best Buy . Microsoft, Apple and fellow Club name Nvidia have all eclipsed $3 trillion market values — and have been wrestling for the top spot as the most valuable U.S. company. META YTD mountain Meta Platforms (META) year-to-date performance Meta Platforms is monetizing consumer interest in AI by boosting user engagement. The Meta AI generative artificial intelligence assistant is currently free to use. AMZN YTD mountain Amazon (AMZN) year-to-performance Comparable to Meta, Amazon offers AI to consumers for free to increase engagement on its dominant e-commerce platform.

Persons: Tim Cook, Siri, Apple, WWDC, Piper Sandler, Jim Cramer, Bard, Missteps, Jim, Jim Cramer's, Eugene Mymrin Organizations: Apple, Apple Intelligence, Developer Conference, Microsoft, Services, Cook, Co, AI Party, Bloomberg, Microsoft's, Computing, Club, Nvidia, Gmail, Google, ChatGPT, Facebook, Citi, Meta, Amazon, Amazon Web Services, CNBC Locations: China, Cupertino, U.S

☆ Ernest Shackleton’s Quest shipwreck has finally been found
▼ + stars: | 2024-06-15 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Editor’s note: A version of this story appeared in CNN’s Wonder Theory science newsletter. Polar explorer Sir Ernest Shackleton and his crew of 27 men set off aboard the HMS Endurance in 1914. A search expedition found the HMS Endurance wreck in 2022, and now, another part of Shackleton’s legacy has been recovered. Central Press/Hulton Archive/Getty ImagesAn international team of experts using sonar has located the exploration ship Quest, once captained by Shackleton, off the coast of Canada. — A botanist spotted a tiny plant species new to science growing in an unlikely place on the slopes of the Andes.

Persons: Sir Ernest Shackleton, Shackleton, Freeman Dyson, Dyson, George Wittemyer, ”, Mickey Pardo, ritualistically, Chichén Itzá, “, Adomas Valantinas, Ashley Strickland, Katie Hunt Organizations: CNN, HMS, Quest, Central Press, Hulton, Cornell University, Olympus, ESA, Brown University, NASA, CNN Space, Science Locations: Antarctica, South Georgia, Canada, Kenya, Chichén, Yucatán, Everest, England, Australia

☆ Cocoa prices are soaring. Candy makers will need to get creative
▼ + stars: | 2024-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.

Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West

☆ Welcome to the age of geriatric millionaires
▼ + stars: | 2024-06-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

While it makes sense that time is often a crucial ingredient to accruing savings and assets, the average age of millionaires in the US has been rising faster than the average age of the overall population over the last three decades. How millionaires are changingSince 1992, the average age of the country's millionaires has been going up. That means that younger millionaires aren't joining their ranks fast enough to keep the average age steady. Millionaires are overrepresented beginning around age 50, but track pretty cleanly with the cohort in their 40's. What does it mean to have so many older millionaires?

Persons: —, Chuck Collins, inequality.org, Collins, America's, aren't, Garrett Watson, that's, Watson, Xers, Gen Xers, they've, haven't, That's, It's, Ed Yardeni, They're, Redfin, King Charles, King Charles III of, it's, You've Organizations: Service, Business, Policy Studies, Forbes, Consumer, Millionaires, Tax, Security, Labor, Institute for Policy Studies Locations: United Kingdom

☆ New York City briefly opened its housing voucher waitlist. But getting that assistance is as unlikely as getting into Harvard.
▼ + stars: | 2024-06-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Finding an affordable apartment in New York City has become ever more challenging for low-income people — and an expansion of key federal assistance isn't likely to help much. Ultimately, though, it will only issue 20,000 new vouchers, bringing the total number of vouchers up from about 96,000 to about 115,000, the New York City Housing Authority said. AdvertisementNew York City has the largest housing voucher program in the country, but it still falls far short of need. Discrimination against housing voucher holders by landlords is pervasive, even in places that prohibit it. Fully funding housing vouchers is key.

Persons: isn't, Gothamist Organizations: Service, New, New York City Housing Authority, Harvard University, of Housing, Urban Development Locations: New York City, York City, New York

☆ Bitcoin will hit $500,000 by the end of this decade as ETF demand booms, Bernstein says
▼ + stars: | 2024-06-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Bitcoin is predicted to hit $500,000 by 2029, according to Bernstein. The bullish outlook is driven by a sustained boom in demand for bitcoin ETFs, combined with constrained supply. AdvertisementThe price of bitcoin is set to soar to $500,000 by the end of the decade, according to a recent note from Bernstein. Advertisement"This is led by unprecedented Bitcoin demand ($190Bn AUM in 2025E vs. $60Bn today) via ETFs run by the world's leading asset managers, and Bitcoin supply being constrained," Bernstein said. Bernstein argues that MicroStrategy deserves the premium valuation as it offers investors an "active-leveraged" strategy compared to passive bitcoin ETFs.

Persons: Bitcoin, Bernstein, —, Gautam Chhugani, Mahika Sapra, bitcoin, Chhugani, Sapra, MicroStrategy Organizations: Service, BTC

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