DIRS.INFO The most relevant business & tech news

It’s been a year since interest rates reached a two-decade high, but they may soon begin to reverse course. The Federal Reserve is expected to hold its benchmark interest rate steady on Wednesday, while signaling that a cut is possible when policy-setting officials meet again in September. If interest rates are elevated for too long, they risk weakening the employment picture. The central bank uses interest rates to influence the broader economy. Home-equity lines of credit and adjustable-rate mortgages — which each carry variable interest rates — generally rise within two billing cycles after a change in the Fed’s rates.

Persons: It’s, ” Jonathan Smoke, that’s, Freddie Mac, ”, Sam Khater, —, “ Banks, Ken Tumin Organizations: Federal, “ Manufacturers, Cox Automotive, Treasury, Savings Vehicles Locations: Edmunds

☆ How a Norwegian Swimmer Made Chocolate Muffins a Hit at the Olympics
▼ + stars: | 2024-07-31 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

The Olympic Village in Paris was built with France’s important food traditions in mind. But the runaway hit among the world’s elite athletes is not a croissant or a baguette, but something more likely to be passed over at an American cafeteria. “They’re very rich, and I like that,” Henrik Christiansen, a Norwegian swimmer turned unofficial Olympic Muffin Man on TikTok, said in an interview. “Some people might find it too powerful, but they’re right up my alley.”Christiansen, 27, came across the muffins while making a video to review meals at the Olympic Village. They “were just so incredibly delicious” that Christiansen said he decided to see if a series of videos highlighting his love for the muffins would take off.

Persons: “, ” Henrik Christiansen, ” Christiansen, Christiansen Locations: Paris, American, Norwegian

☆ Here are some money moves to make before the Fed starts cutting interest rates
▼ + stars: | 2024-07-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Meanwhile, many investors are sitting on hefty cash allocations, including trillions in money market funds, which are generally still paying above 5%. How to tellAfter a series of rate hikes, investors piled into money market funds, which typically invest in shorter-term, lower-credit-risk debt, such as Treasury bills. Total U.S. money market funds hovered near a record of $6.15 trillion as of July 17, with $2.48 trillion in funds for retail investors, according to Investment Company Institute data. However, money market fund yields will likely fall if the Fed starts cutting rates in September, explained Ken Tumin, founder and editor of DepositAccounts. "Most [money market funds] seem to closely follow the federal funds rate," he said.

Persons: Ken Tumin Organizations: Federal Reserve, Finance, Social, Total U.S, Investment Company Institute

☆ Whale Capsizes Fishing Boat Off New Hampshire Coast
▼ + stars: | 2024-07-24 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

A humpback whale that an expert said was looking for food breached the water and landed on a recreational boat near Portsmouth, N.H., on Tuesday, capsizing the vessel and ejecting two passengers, the United States Coast Guard said. The Northern New England sector of the Coast Guard received a mayday call for a 23-foot boat that had capsized when a whale shot up from underneath the boat and flopped onto it, about half a mile east of Odiorne Point State Park. The dramatic flip was caught on video by Colin Yager, 16, who was out fishing on another boat nearby, according to WHDH in Boston. The whale also appeared to be uninjured, the Coast Guard said. “It’s was a harrowing experience,” Gregg Paquette, one of the two passengers knocked over by the whale, told WHDH.

Persons: Colin Yager, “ It’s, ” Gregg Paquette, “ Organizations: United States Coast Guard, Coast Guard, WHDH Locations: Portsmouth, N.H, Northern New England, Odiorne Point, Boston

☆ Unruly Passenger Who Was Restrained With Duct Tape Faces Record Fine
▼ + stars: | 2024-06-15 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

An American Airlines passenger who kicked and spit at flight attendants and passengers and attempted to open the cabin door before she was secured to a seat with duct tape has been sued by the Federal Aviation Administration for $81,950, the largest-ever fine issued by the agency for unruly behavior. The passenger, Heather Wells, 34, of San Antonio, was traveling first class from the Dallas-Fort Worth International Airport in Texas to the Charlotte Douglas International Airport in Charlotte, N.C., on July 7, 2021, when about an hour into the flight she ordered a Jack Daniel’s and became agitated and said she “wanted out” of the plane, according to a lawsuit filed on June 3 in U.S. District Court for the Western District of Texas. Ms. Wells began running toward the back of the plane, where she dropped to her knees in the aisle and began “talking incoherently to passengers, before crawling back toward the main cabin,” the lawsuit said. When a flight attendant responded, Ms. Wells “became verbally aggressive and told the flight attendant that she would ‘hurt him’ if he didn’t get out of her way,” according to the court document.

Persons: Heather Wells, Jack Daniel’s, “, Wells, Wells “, didn’t Organizations: American Airlines, Federal Aviation Administration, Fort Worth International, Charlotte Douglas International, Western, Western District of Texas Locations: San Antonio, Dallas, Texas, Charlotte, N.C, U.S, Western District

☆ U.S. Investigating ‘Dutch Roll’ That Damaged a Boeing 737 During Flight
▼ + stars: | 2024-06-14 | by ( Remy Tumin | Niraj Chokshi | ) www.nytimes.com time to read: +1 min

The plane, a Boeing 737 Max 8, was flying at an altitude of 34,000 feet from Phoenix to Oakland, Calif., around 8 a.m. Pacific time on May 25 when the flight crew members said they experienced what is known as a Dutch roll, the N.T.S.B. A Dutch roll is “a coupled oscillation” that creates simultaneous side-to-side and rocking motions, producing a figure-8 effect. The phenomenon is believed to have been named by an aeronautical engineer who compared it to a traditional ice skating technique made popular in the Netherlands. If unaddressed, the wobbling can become more exaggerated, creating a dangerous feedback loop. “It’s a weird movement of the airplane, an oscillation that, if not dampened or stopped, could continue to get worse and worse,” said Jeff Guzzetti, a former accident investigator for the F.A.A.

Persons: ”, Jeff Guzzetti, “ Organizations: Southwest Airlines, Federal Aviation Administration, National Transportation Safety Board, Boeing Locations: Phoenix, Oakland, Calif, Netherlands

☆ Damaging Winds and ‘Very Large Hail’ Hit Central Texas
▼ + stars: | 2024-05-28 | by ( Remy Tumin | Jenny Gross | ) www.nytimes.com time to read: 1 min

Another round of powerful storms brought rain, high winds and large hail to Texas on Tuesday, causing hundreds of thousands of utility customers to lose power and ground stops to be put in place for several hours at Dallas Fort Worth International Airport. Just as the region was recovering from deadly tornadoes over the weekend, sirens rang out early on Tuesday morning, as the National Weather Service issued a tornado warning for areas east of Dallas that expired at 8:15 a.m. local time. “Take cover now!” said a message early Tuesday from the National Weather Service in Fort Worth. The storms included damaging winds, with gusts as high as 70 miles per hour, and hail the size of golf balls, the Weather Service said on social media.

Persons: ” Organizations: Dallas Fort Worth International, National Weather Service, Weather Service Locations: Texas, Dallas, Fort Worth

☆ Morgan Spurlock, Documentarian Known for ‘Super Size Me,’ Dies at 53
▼ + stars: | 2024-05-24 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: 1 min

Morgan Spurlock, a documentary filmmaker best known for the Oscar-nominated 2004 film “Super Size Me,” which followed him as he ate nothing but McDonald’s for 30 days, died on Thursday. His brother Craig Spurlock confirmed the death in a statement to The Associated Press, and said the cause was complications from cancer. The statement did not say where he died. In “Super Size Me,” Mr. Spurlock tested the broadly held idea that fast food is unhealthy by gorging on McDonald’s Super Size meals, hamburgers, fries, soda and more for weeks, as he steadily gained weight. The film, which grossed more than $22 million on a $65,000 budget, contributed to a sweeping backlash against the fast food industry.

Persons: Morgan Spurlock, Oscar, Craig Spurlock, Mr, Spurlock Organizations: Associated Press

☆ Homeowners Who Planned to Demolish Marilyn Monroe House Sue Los Angeles
▼ + stars: | 2024-05-08 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

The owners of the house where Marilyn Monroe last lived and died are suing the city of Los Angeles over what they call “backroom machinations” as part of efforts to landmark the house and save it from a planned demolition. In a lawsuit filed in Superior Court in Los Angeles County on Monday, lawyers for Brinah Milstein and Roy Bank accused the city of violating its own codes and conspiring with third parties to secure its desired outcome during a hurried process to designate the house at 12305 Fifth Helena Drive a historical landmark last fall. This lawsuit highlights how the city engaged in a “corrupt process to guarantee their preferred outcome rather than engaging in a neutral and fair process,” Peter C. Sheridan, a lawyer for the couple, said in a statement. The city did not respond to a request for comment. Ms. Monroe was the world’s most famous woman when she moved in March 1962 to Fifth Helena Drive, a secluded residential street in the Brentwood neighborhood that is part of a set of 25 cul-de-sacs off Carmelina Avenue.

Persons: Marilyn Monroe, ”, Brinah Milstein, Peter C, Sheridan, Monroe Organizations: Roy Bank, Fifth Helena, Fifth Locations: Los Angeles, Superior Court, Los Angeles County, Brentwood

☆ Kris Hallenga, Advocate for Breast Cancer Awareness Among the Young, Dies at 38
▼ + stars: | 2024-05-06 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

When Kris Hallenga was diagnosed with Stage 4 breast cancer — the most advanced form — at 23, questions swirled through her head: “Why didn’t anyone tell me to check my boobs? Why didn’t I know I could get breast cancer at 23?”If she hadn’t known that she could have breast cancer so young, there was a very good chance others were equally uninformed, she said in a 2021 interview with The Guardian. She spent the next 15 years educating young people about early detection through her nonprofit organization, CoppaFeel, and in a 2021 memoir, “Glittering a Turd.”On Monday, CoppaFeel announced that Ms. Hallenga had died at 38. A spokesman for the organization said she had died at home in Cornwall, England, and that the cause was breast cancer. “Survival was never enough,” she said during a publicity tour in 2021.

Persons: Kris Hallenga, swirled, ”, CoppaFeel, Hallenga, “, ‘ I’m, I’m, ’ Organizations: Guardian Locations: Cornwall, England

☆ Former Pennsylvania Nurse Gets Life Sentence in Insulin Deaths
▼ + stars: | 2024-05-02 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

A former Pennsylvania nurse who admitted that she administered excessive doses of insulin to nearly two dozen patients, 17 of whom died, was sentenced to life in prison on Thursday after pleading guilty to murder and other charges. The former nurse, Heather Pressdee, 41, administered high doses of insulin to 22 patients at five rehabilitation centers across Pennsylvania between 2020 and 2023, prosecutors said. Ms. Pressdee was initially charged in May 2023 with killing two nursing home patients and injuring a third. But in November, the state attorney general’s office came forward with additional charges after prosecutors said Ms. Pressdee admitted to trying to kill a total of 19 patients. According to the attorney general’s office, first-degree murder charges were filed against Ms. Pressdee only in cases where “physical evidence” was available.

Persons: Heather Pressdee, Pressdee, general’s, ” Locations: Pennsylvania

☆ Treasury Department announces new Series I bond rate of 4.28% for the next six months
▼ + stars: | 2024-04-30 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Jitalia17 | E+ | Getty ImagesHow I bond rates workThere are two parts to I bond rates — a variable- and fixed-rate portion — which the Treasury adjusts every May and November. Based on inflation, the variable rate stays the same for six months after purchase, regardless of when the Treasury announces new rates. There are no state or local levies on interest and you can defer federal taxes until redemption. What's the interest rate from May 1 to Oct. 31, 2024? $10,000 per person every calendar year, plus an extra $5,000 in paper I bonds via your federal tax refund.

Persons: Jeremy Keil, Keil, there's, Will Organizations: Treasury, Keil Financial Partners Locations: Milwaukee

☆ Multiple Law Enforcement Officers Are Shot in Charlotte, Police Say
▼ + stars: | 2024-04-29 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: 1 min

Multiple law enforcement officers were shot in Charlotte, N.C., on Monday as members of a U.S. Marshals fugitive task force were trying to serve a warrant and were met by gunfire, the police said. The authorities shut down the city’s Shannon Park neighborhood, east of downtown, in order to more easily move victims to hospitals, the Charlotte-Mecklenburg Police Department wrote on social media. It cautioned residents to stay inside and avoid the area. The scene was still active after 3 p.m., the authorities said, and a SWAT team was at the scene.

Organizations: U.S, Mecklenburg Police, SWAT Locations: Charlotte, N.C, Shannon, downtown

☆ U.K. Publisher Redacts Passage of Rebel Wilson’s Memoir
▼ + stars: | 2024-04-24 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

The British publisher of the actress Rebel Wilson’s memoir has redacted a portion of the book that details allegations of inappropriate behavior by Sacha Baron Cohen. In the memoir, “Rebel Rising,” Wilson, known for her comic roles in “Bridesmaids” and “Pitch Perfect,” candidly details her struggles with weight loss, sexuality and money. A representative for Baron Cohen has denied Wilson’s account. But Harper Collins, her publisher in the United Kingdom, redacted passages from a page of the memoir, images released by Getty showed. A spokesperson for Harper Collins confirmed the redaction in a statement to The Guardian.

Persons: Rebel, Sacha Baron Cohen, ” Wilson, “, ”, Baron Cohen, Cohen, Simon, Simon & Schuster, Harper Collins, Getty Organizations: Simon &, Guardian Locations: British, Grimsby, ”, United States, United Kingdom, Australia

☆ Mistrial Declared in Case of Arizona Rancher Accused of Murdering Migrant
▼ + stars: | 2024-04-22 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

A judge on Monday declared a mistrial in the case of an Arizona rancher who was accused of murdering an unarmed migrant on his property after he crossed the U.S.-Mexico border last year, in a case that inflamed people on both sides of the national debate over immigration. The mistrial was declared after jurors were unable to reach a unanimous verdict during deliberations that began on Thursday. The judge scheduled a hearing for April 29, according to the Arizona Superior Court in Santa Cruz County. Calls on Monday evening to prosecutors and to Brenna Larkin, a lawyer for Mr. Kelly, were not immediately returned. Gabriel Cuen-Buitimea was among a group of undocumented migrants who were crossing the high desert in Kino Springs, Ariz., near the border with Mexico on Jan. 30, 2023, when they spotted a Border Patrol vehicle and scattered, according to the authorities.

Persons: Brenna Larkin, Kelly, Gabriel Cuen, Buitimea Organizations: Arizona Superior Court, Patrol Locations: Arizona, Mexico, Santa Cruz County, Kino Springs, Ariz

☆ With a Fresh Look and Recipes, Manischewitz Courts a New Generation
▼ + stars: | 2024-04-19 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

Something wasn’t quite right about the chicken soup. The team at Manischewitz had gathered in the test kitchen at the company’s headquarters in Bayonne, N.J., last year to taste the latest version of one of their new offerings. “We were tasting it against our grandparents’ and saying, ‘No, that’s not it; it’s just not like our Friday night chicken soup,’” said Shani Seidman, the chief marketing officer for Kayco, which owns Manischewitz. “A lot of times you think of improvement and innovation as extra or modern,” Ms. Seidman said in an interview this month. “But we’re going back to go forward.”And chicken soup is only the start of it.

Persons: “, ’, ‘, ’ ”, Shani Seidman, Ms, Seidman Organizations: Manischewitz Locations: Bayonne , N.J

☆ Here's why it could be better to buy Series I bonds before May, experts say
▼ + stars: | 2024-04-19 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

While the annual rate for newly purchased Series I bonds could fall below 5% in May, the assets may still appeal to long-term investors, experts say. Some experts predict the new rate could drop to around 4.27% based on inflation and other factors. Based on the last six months of inflation data, the variable portion will fall from 3.94% to 2.96% in May. The fixed-rate portion is harder to predict, but experts say it could stay close to 1.3%. By contrast, the variable rate stays the same for six months after purchase, regardless of when the Treasury announces new rates.

Persons: there's, Ken Tumin Organizations: Investors, Finance, U.S . Department of, Treasury

☆ Series I bonds are ‘still a good deal’ despite an expected falling rate in May, experts say
▼ + stars: | 2024-04-17 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Jetcityimage | Istock | Getty ImagesHow the I bond rate worksThe U.S. Department of the Treasury adjusts I bond rates every May and November. The variable rate portion resets every six months starting on the investor's I bond purchase date, not when the Treasury Department announces rate adjustments. The 1.3% fixed rate "makes it very attractive" for investors who want to preserve purchasing power long term, according to Tumin. How the fixed rate could changeSince the variable rate for I bonds is based on six months of inflation data, experts agree it will fall from 3.94% to 2.96% in May. Enna looks at a half-year average of real yields for 5- and 10-year TIPS to predict fixed rate changes.

Persons: David Enna Organizations: Istock, U.S . Department of, Treasury, Treasury Department Locations: Enna

☆ It's not just Jamie Dimon and Wall Street. Local bank branches have big AI ambitions
▼ + stars: | 2024-04-13 | by ( Kevin Williams | ) www.cnbc.com time to read: +7 min

Naghibi envisions community bank branches with fewer employees and more AI. The bank is also exploring the use of generative AI in software engineering, customer service and ways to boost employee productivity. "Effectively, a small bank's branch will be a wall of screens," he said. But bankers like Naghibi believe AI will allow small banks to become more involved in their communities, and in effect, more human. As a community bank, that is where the edge is."

Persons: Wells Fargo, it's, Christopher Naghibi, Naghibi, Naghibi isn't, Jamie Dimon, JPMorgan Chase, Dimon, Jackie Verkuyl, Slaven Bilac, Smart, Chase, Wells, Bilac, Ken Tumin, Banks, homebuyer, Mickey Marshall Organizations: Foundation Bank, JPMorgan, Security, Community Bank, Independent Community Banking Association Locations: Irvine , California, Stockton , California, San Francisco

☆ New York Community Bank’s online arm is paying the nation’s highest interest rate
▼ + stars: | 2024-04-10 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City. New York Community Bank , the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account. The standout rate could be a sign that NYCB is facing funding pressure, Tumin said. "It looks like they're trying really hard to attract deposits," Tumin said. The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.

Persons: NYCB, Ken Tumin, Tumin, Steven Mnuchin's Organizations: York Community Bank, New York City . New York Community Bank, Banking, Strategic Capital Locations: Brooklyn, New York City .

A senior Hamas official said on Wednesday that Hamas did not have 40 living hostages in Gaza who met the criteria for an exchange under a proposed cease-fire agreement with Israel being negotiated. A senior Israeli official said Israel had been relayed Hamas’s claim, and the senior Hamas official said that the group had informed mediators facilitating the negotiations. The Israeli official and the Hamas official requested anonymity because of the sensitivity of the negotiations. Israeli officials believe there are about 130 hostages remaining in Gaza, and Israeli intelligence officers have concluded that at least 30 of those have died in captivity. It was not immediately clear if Israel would now demand that young men and soldiers be included among the first 40 released captives.

Persons: Israel Organizations: Hamas, Israeli Locations: Gaza, Israel

☆ Some of the rules that protect wealthy savers' bank deposits just changed. Here's what to know
▼ + stars: | 2024-04-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

The Federal Insurance Deposit Corporation, or FDIC, implemented new requirements for deposit insurance for trust accounts starting April 1. FDIC insurance generally covers $250,000 per depositor, per bank, in each account ownership category. How FDIC coverage of trust accounts has changedUnder the new rules, trust deposits are now limited to $1.25 million in FDIC coverage per trust owner per insured depository institution. Each beneficiary of the trust may have a $250,000 insurance limit for up to five beneficiaries. However, if there are more than five beneficiaries, the FDIC coverage limit for the trust account remains $1.25 million.

Persons: Jamie Grill, Ken Tumin, Tumin, — Organizations: Federal Insurance Deposit Corporation, FDIC

☆ 400,000 in New England Still Without Power After Spring Snowstorm
▼ + stars: | 2024-04-05 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

Air travel was also disrupted. More than 400 flights within, to or from the United States were canceled on Thursday afternoon, according to FlightAware; many of them were in Boston. More than 8,500 flights were delayed. “It may come as a little bit of a shock to people because we have had a stretch of nice springlike weather and this winter has been anomalously mild,” he said. “People might have gotten a little too comfortable.”But things are looking up in time for the solar eclipse on Monday: It is expected to be in the mid-50s and sunny across northern New England.

Persons: Rodney Chai, ” Organizations: Weather Service Locations: United States, Boston, New England, Burlington , Vt

☆ An Overlooked Championship Team’s Final Stop: The White House
▼ + stars: | 2024-04-05 | by ( Remy Tumin | Sopan Deb | ) www.nytimes.com time to read: 1 min

When Vice President Kamala Harris greeted Dick Barnett on Friday, he was concise in his response. “Finally.”At long last, six surviving members of the all-Black Tennessee Agricultural & Industrial State University in Nashville visited the White House, the culmination of a decades-long effort, led by Mr. Barnett, for recognition. The Tennessee A&I Tigers were the first team from a historically Black college or university to win any national championship, and the first college team to win three back-to-back championships, in 1957, 1958 and 1959. The former teammates — Mr. Barnett, George Finley, Ernest Jones, Henry Carlton, Robert Clark and Ron Hamilton — took part in a private ceremony in the Roosevelt Room of the White House with Ms. Harris, who paid tribute to the team during a round-table discussion.

Persons: Kamala Harris, Dick Barnett, Barnett, — Mr, George Finley, Ernest Jones, Henry Carlton, Robert Clark, Ron Hamilton —, Harris Organizations: ”, Tennessee Agricultural & Industrial State University, White, Tennessee, Tigers Locations: Nashville

☆ ‘Titanic’ Door Prop That Saved Rose (Sorry, Jack) Sells for $718,750
▼ + stars: | 2024-03-26 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

At the end of the movie “Titanic,” Rose floats atop an ornately decorated piece of a door frame as her beloved Jack clings to its edge, holding her hand. In reality, the ocean was a tank that held 17 million gallons of water. And the door frame? The wood panel sold at auction for $718,750 on Saturday, part of a trove of memorabilia from Planet Hollywood. Heritage Auctions said in a statement that the event “shattered expectations” and set a record for the company’s auctions of movie props and costumes, drawing more than 5,500 bidders from around the world.

Persons: Rose, Jack, “, Indiana Jones, ” Organizations: Planet Hollywood, Heritage, Heritage Auctions

Search resuls for: "Tumin"

25 mentions found