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☆ Powell downplays impact of rate cut on Trump-Harris presidential race
▼ + stars: | 2024-09-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. Vice President Kamala Harris in Milwaukee, Wisconsin, U.S. August 20, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 are seen in a combination of file photographs. Federal Reserve Chair Jerome Powell suggested that Wednesday's larger-than-expected interest rate cut may have a limited effect on the presidential race between Vice President Kamala Harris and Donald Trump, because the decision's impacts will ripple into the economy slowly. "The things that we do really affect economic conditions for the most part with a lag," Powell said at his press conference, responding to a reporter's question about timing the long-awaited rate cut, just 48 days until the Nov. 5 election. Though the cut comes in the final sprint of the Trump-Harris race, Powell ensured that the Fed made its decision with a focus on consumer interests and without "any other filters." "This is my fourth presidential election at the Fed and it's always the same," Powell said.

Persons: Kamala Harris, Donald Trump, Jerome Powell, Powell, Harris, it's, We're, what's Organizations: Fed, Wednesday, Trump Locations: Milwaukee , Wisconsin, U.S, Bedminster , New Jersey

☆ Inside Rep. Rob Menendez's fight to be more than a 'nepo baby'
▼ + stars: | 2024-05-04 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +19 min

"I don't have the capacity to think through, well, what if, what if, what if," Menendez told me. Mayor Bhalla told me that he began contemplating his primary challenge shortly after the elder Menendez was first indicted in September. AdvertisementSitting in his recently opened campaign office, the mayor told me that the most important facet of his candidacy was his fight against New Jersey's party boss-driven political culture. "Everything here is a headline or a deadline driving the process," Councilman Paul Presinzano said of Mayor Bhalla. Menendez looks on as Bhalla's opening remarks at a Jersey City candidate forum are filmed by a cameraman.

Persons: Rob Menendez —, Sen, Bob Menendez —, Ravi Bhalla, Menendez, —, Rob Menendez, Bob Menendez, who's, that's, frat bro, I've, Stephen Chernin, he's, father's, Phil Murphy, Bhalla, Pete Buttigieg, outraise Menendez, Ted Shaffrey Bhalla, Menendez —, there's, They're, Andy Kim, Tammy Murphy, James Solomon, you've, hasn't, bossism, Anna Moneymaker, deriding, didn't, I'm, wasn't, we're, It's, Sam Bankman, rZ6H2IB4N0, — Rob Menendez, @RobMenendez4NJ, Councilwoman Tiffanie Fisher, Kim, Fisher, Paul Presinzano, Union City —, Donald Trump, Bryan Metzger, Rob's, Tammy Murphy's, He's, Cory Booker, Rob Menendez Bhalla, Steve Fulop —, corruptly Organizations: Hoboken, Service, Nike Air Force, Gov, Port Authority of New, New Jersey ., Sikh American, Congress, South, AP, New, Democratic Rep, First, Jersey City, Getty, Lipton Tea Company, House Transportation, Infrastructure, Union City, Homeland Security, Democratic, House Democratic, Facebook Locations: New Jersey, Manhattan, Jersey, Hoboken, Port Authority of New York, he's, Jersey City, Washington ,, Washington and NJ, Menendez's, Union City

☆ KBW CEO Tom Michaud reacts to Fed decision's impact on banks and the inflation battle
▼ + stars: | 2024-05-01 | 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 EmailKBW CEO Tom Michaud reacts to Fed decision's impact on banks and the inflation battleTom Michaud, KBW CEO, joins 'Fast Money' to talk the impact of today's FOMC decision to leave rates unchanged and how that will impact banks, inflation, the economy, and more.

Persons: Tom Michaud

☆ The dark side of DINKs: People who want kids but can't afford them
▼ + stars: | 2024-03-16 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +12 min

Some DINKs are using their higher net worth to retire early, travel, and afford luxury items. But there's an even darker side to DINKs: The slice that forgoes kids not by choice but out of necessity. It's difficult to parse out the exact number of Americans who might want kids but can't have them. We know that the childfree group — people who don't want kids — might be about 20% of the US adult population. It's contributing to a whole population of DINKs who can't afford to shed the moniker.

Persons: DINK, —, you've, Gen Zers, it's, Kimberly Palmer, Kathryn Edwards, Larry Bienz, he's, Bienz, civically, let's, Amelia, Kevin, They've, We're, Amelia's, Roe, Wade, Zachary Neal, Neal, Jennifer Neal, Priscilla Davies, she's, Davies, They're Organizations: Service, Harris, RAND Corporation, American Society for Reproductive, US Children's Bureau, Michigan State Locations: NerdWallet, DINKs, Chicago, Michigan

☆ Bitcoin ETFs have a key difference from their stock fund counterparts
▼ + stars: | 2024-01-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission pushed for bitcoin exchange-traded funds to have a key difference from major stock funds, and that decision's effect on how the funds trade will only become clear over time. The bitcoin funds that launched Thursday are using a share redemption process that turns the underlying crypto into cash. Most ETFs primarily use an in-kind redemption process, where the underlying asset does not have to be actually sold. There is some concern that using the cash-only redemption model could make the plumbing of the ETFs less efficient. Using cash-only redemption could result in ETFs that have weaker liquidity and wider bid-ask spreads, Grayscale argued.

Persons: Bryan Armour, Steven McClurg, McClurg, Jeremy Senderowicz, Vedder Price, Gary Gensler, Senderowicz Organizations: U.S . Securities, Exchange Commission, North America, Morningstar, SEC, APs, CNBC PRO Locations: bitcoin

COP28 president Sultan Ahmed Al Jaber speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo on December 1, 2023. "We delivered world first after world first," the UAE summit presidency said in a further social media update. And we have language on fossil fuels in our final agreement." Many believed the COP28 summit could only be considered a success if it resulted in a deal to phase out all fossil fuels. COP28 President Sultan al-Jaber sparked a backlash earlier this month after he claimed there is "no science" behind calls for a phase-out of fossil fuels.

Persons: Sultan Ahmed Al Jaber, Ludovic Marin, Licypriya Kangujam, Sean Gallup, Wopke Hoekstra, Alok Sharma, Sharma, CNBC's, Simon Stiell, We're, John Kerry, Selma de Montgomery, Avinash Persaud, Mikhail Gitarskiy, Sultan al, Jaber, he'd, Al Organizations: Food Systems, Dubai Expo, Afp, Getty Images, UAE Consensus, UAE, United Arab Emirates, Getty, Russian, BBC, Abu, Abu Dhabi National Oil Co Locations: Dubai, UAE, United Arab, United Arab Emirates, Pacific, Caribbean, Latin America, Africa, Asia, North America, Paris, United States, China, Denmark, Barbados, Moscow, Abu Dhabi

United Auto Workers President Shawn Fain addresses the audience during a rally in support of striking UAW members in Detroit, Michigan, U.S., September 15, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsNov 8 (Reuters) - United Auto Workers President Shawn Fain said on Wednesday the union will "pull out all stops" in working to organize non-union U.S. auto plants after winning new contracts with the Detroit Three automakers. In an video interview at the Reuters Events auto conference in Detroit, Fain said the UAW is aggressively working on its organizing plans. We're going to leverage every avenue we can and we're going to find creative ways to get to workers," Fain said. Fain said the UAW deserved credit for Toyota Motor (7203.T) decision's last week to raise the wages of nonunion U.S. factory workers.

Persons: Shawn Fain, Rebecca Cook, Fain, Joe Biden, decision's, Biden, David Shepardson, Joseph White, David Gregorio Our Organizations: United Auto Workers, REUTERS, U.S, Detroit Three, Chrysler, Reuters, UAW, Toyota Motor, Toyota, nonunion, Thomson Locations: Detroit , Michigan, U.S, Belvedere , Illinois, Detroit, Illinois

☆ Brazil cenbank cuts rates, with more likely to come, but flags 'adverse' backdrop
▼ + stars: | 2023-11-01 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

The bank's rate-setting committee, known as Copom, unanimously reduced its Selic benchmark interest rate to 12.25%, a move expected by all 40 economists polled by Reuters. However, despite its expectation of keeping its pace of rate cuts, the bank mentioned an "adverse" global outlook that "requires caution on the conduct of monetary policy." The prospect of higher long-term U.S. interest rates has led to a tightening of global liquidity and strengthening of the dollar, adding to inflation pressures in emerging markets like Brazil. In its statement, the central bank also highlighted the persistence of elevated core inflation in several countries, alongside emerging geopolitical tensions following the outbreak of the Israel-Palestine conflict. The inflation target for the upcoming year and beyond stands at 3%, with the same tolerance interval.

Persons: Daniel Cunha, Luiz Inacio Lula da, Lula, Marcela Ayres, Diane Craft Organizations: Reuters, Thomson Locations: BRASILIA, Brazil, Israel, Palestine

☆ TikTok slapped with a $368 million fine in Europe for failing to protect children's privacy
▼ + stars: | 2023-09-16 | by ( Rebecca Rommen | Associated Press | ) www.businessinsider.com time to read: +3 min

European regulators hit social media platform TikTok with a $368 million fine for lapses in children's privacy. It's the first time the video-sharing app has been penalized under Europe's data privacy rules. An investigation found significant lapses in the protection of children's privacy, it said. This isn't the first time that TikTok has been fined over data protection concerns. Data privacy regulators in the UK issued a £12.7 million ($15.7 million) fine to TikTok in April for mishandling children's data and breaching protections for young users' personal information, AP reported.

Persons: TikTok, Elaine Fox Organizations: Service, Associated Press, Ireland's Data Protection, AP Locations: Wall, Silicon, Dublin, Europe

☆ Israelis Protest Against Overhaul Plans Ahead of Key Court Decision
▼ + stars: | 2023-09-09 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

JERUSALEM (Reuters) - Tens of thousands of Israelis protested in cities across the country on Saturday ahead of a key decision by the Supreme Court over legislation passed by the coalition which stripped the court of some of its oversight powers. Proponents say the judicial overhaul plans would restore balance to the branches of authority but critics say it removes vital checks on government powers. The latest legislation, an amendment to one of Israel's basic laws, removes the court's power to strike down government decision's or appointments on the basis of being "unreasonable." "I want to make sure that Israel will stay democracy and not a dictatorship." The overhaul plans have sparked weekly nationwide protests but the latest demonstrations held special significance as they came before the Supreme Court, for the first time in Israeli history, convenes its entire 15-judge bench on Sept. 12 to hear an appeal against the amendment.

Persons: Benjamin Netanyahu's, Nattie Schwartz, Kershberg, Emily Rose, Daniel Wallis Organizations: Israel Locations: JERUSALEM, Tel Aviv, Israel

☆ Israelis protest against overhaul plans ahead of key court decision
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +1 min

[1/6] Protesters display a large banner as they take part in a demonstration against Israeli Prime Minister Benjamin Netanyahu and his nationalist coalition government's judicial overhaul, in Tel Aviv, Israel September 9, 2023. REUTERS/Ilan Rosenberg Acquire Licensing RightsJERUSALEM, Sept 9 (Reuters) - Tens of thousands of Israelis protested in cities across the country on Saturday ahead of a key decision by the Supreme Court over legislation passed by the coalition which stripped the court of some of its oversight powers. Proponents say the judicial overhaul plans would restore balance to the branches of authority but critics say it removes vital checks on government powers. "I am demonstrating for Israel democracy," protester Nattie Schwartz-Kershberg said in Tel Aviv. The overhaul plans have sparked weekly nationwide protests but the latest demonstrations held special significance as they came before the Supreme Court, for the first time in Israeli history, convenes its entire 15-judge bench on Sept. 12 to hear an appeal against the amendment.

Persons: Benjamin Netanyahu, Ilan Rosenberg, Benjamin Netanyahu's, Nattie Schwartz, Kershberg, Emily Rose, Daniel Wallis Organizations: Israeli, REUTERS, Rights, Israel, Thomson Locations: Tel Aviv, Israel

A smartphone with Meta logo is seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowOSLO, Aug 23 (Reuters) - Meta Platforms (META.O) is breaking European data privacy rules in Norway, the country's data regulator told a court on Wednesday, in a case that could have wider European implications. The fine is valid as Meta is not respecting European General Data Protection Regulation (GDPR), said Hanne Inger Bjurstroem Jahren, a lawyer representing the regulator, Datatilsynet. "There is no discussion on whether the company is in violation of these rules ... Today Meta breaks GDPR rules," she told the court, speaking on the last day of a two-day hearing. Datatilsynet could make the fine permanent by referring its decision to the European Data Protection Board, which has the power to do so, if it agrees with the Norwegian regulator's decision.

Persons: Dado Ruvic, Meta, Instagram, Hanne Inger Bjurstroem Jahren, Datatilsynet, Gwladys, Tomasz Janowski Organizations: REUTERS, Big Tech, Facebook, Data Protection, Meta, European Data Protection, European, Thomson Locations: Norway, Norwegian, Europe

☆ Facebook owner Meta Platforms seeks to stop privacy breach fine in Norway
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman//File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowOSLO, Aug 22 (Reuters) - Meta Platforms (META.O) will ask a court in Norway on Tuesday to stop a fine the country's data regulator has imposed on the owner of Facebook and Instagram for breaching users' privacy, in a case that could have wider European implications. Since Aug. 14, Meta Platforms has been fined 1 million crowns ($94,313) per day for harvesting users' data and using it to target advertising at them, called behavioural advertising, a business model common to Big Tech. Meta Platforms is asking for a temporary injunction against the order, which imposes a daily fine through to Nov. 3. Datatilsynet could make the fine permanent by referring its decision to the European Data Protection Board, which has the power to do so, if it agrees with the Norwegian regulator's decision.

Persons: Yves Herman, Meta, Tobias Judin, Datatilsynet, Gwladys Fouche, Sharon Singleton Organizations: REUTERS, Facebook, Big Tech, European Union, European Economic, EEA, Reuters . Regulator, Meta, Reuters, European Data Protection, Thomson Locations: Brussels, Belgium, Norway, Norwegian, Europe, Oslo

REUTERS/Gonzalo Fuentes/File PhotoOSLO, Aug 8 (Reuters) - Meta Platforms (META.O) is asking a court in Norway to stop a fine the Nordic country's data regulator imposed on the owner of Facebook and Instagram for breaching users' privacy, according to a court filing. Meta Platforms will be fined 1 million crowns ($97,700) per day from Aug. 14 over privacy breaches, Norway's data protection authority told Reuters on Monday, in a decision that could have wider European implications. Meta Platforms is asking for a temporary injunction against the order, according to a court filing. Meta Platforms did not reply to a request for comment. The Norwegian data regulator, Datatilsynet, said Meta Platforms was seeking to stop the imposition of the fine.

Persons: Gonzalo Fuentes, Tobias Judin, Datatilsynet, Gwladys Fouche, Kirsten Donovan Organizations: Viva Technology, Porte de, REUTERS, Facebook, Reuters, Big Tech, European Data Protection, Thomson Locations: Porte, Paris, France, OSLO, Norway, Norwegian, Europe, Oslo

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo/File PhotoOSLO, Aug 7 (Reuters) - Facebook and Instagram owner Meta Platforms (META.O) will be fined 1 million Norwegian crowns ($98,500) per day over privacy breaches from Aug. 14, Norway's data protection authority told Reuters on Monday. The regulator, Datatilsynet, had said on July 17 that the company would be fined if it did not address privacy breaches the regulator had identified. Meta Platforms did not immediately reply to a request for comment. Norway is not a member of the European Union but is part of the European single market.

Persons: Yves Herman, Datatilsynet, Tobias Judin, Meta, Meta's, Gwladys Fouche, Terje Solsvik, David Gregorio Our Organizations: REUTERS, Meta, Reuters, Big Tech, European Data Protection, European Union, Facebook, Ireland's Data, European, Thomson Locations: Brussels, Belgium, OSLO, Norway, Norwegian, Europe, Oslo

☆ Norway regulator to fine Meta over privacy breaches
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

Regulator Datatilsynet said it would charge the fine every day from Aug. 4 until Nov. 3 unless Meta takes action. Datatilsynet has referred its move to the European Data Protection Board, which, if the latter agrees, could make the fine permanent and widen the decision's territorial scope in Europe. Datatilsynet's decision comes days after the European Union's top court ruled Meta cannot harvest user data for behavioural advertising. In December the data regulator in Ireland (DPC), where Meta has its European headquarters, said the firm had to stop the practice. "We continue to constructively engage with the Irish DPC, our lead regulator in the EU, regarding our compliance with its decision," Meta said.

Persons: Datatilsynet, Meta, Tobias Judin, Gwladys Fouche, Anna Ringstrom, Jason Neely Organizations: Meta, Big Tech, Reuters, European Data Protection, European, NRK, Thomson Locations: OSLO, Norway, Datatilsynet, Europe, Ireland, Norwegian

☆ Caitlyn Jenner says DeSantis 'hit a new low' after a campaign video slams Trump's past comments honoring Pride
▼ + stars: | 2023-07-02 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

A DeSantis campaign account tweeted a video slamming Trump for his support of Pride. "To wrap up 'Pride Month,' let's hear from the politician who did more than any other Republican to celebrate it," the DeSantis campaign tweeted. Jenner accused DeSantis' campaign of using "horribly divisive tactics!" Representatives of the DeSantis campaign did not immediately respond to requests for comment Saturday. At Trump's rally in Pickens, South Carolina, on Saturday, the crowd booed when Rep. Marjorie Taylor Greene, R-Ga., referenced to Pride month.

Persons: Trump, DeSantis, Caitlyn Jenner, —, Ron DeSantis ′, Donald Trump, tate, hite, ould Organizations: Service, Republican National Convention, ust Locations: Orlando , Florida, oman

☆ Lebanon has two times of day amid daylight savings dispute
▼ + stars: | 2023-03-26 | by ( Timour Azhari | ) www.reuters.com time to read: +4 min

BEIRUT, March 26 (Reuters) - Lebanon woke up in two time zones on Sunday amid an escalating dispute between political and religious authorities over a decision to extend winter time for a month. Businesses and media organizations, including two of Lebanon's main news channels LBCI and MTV, announced they too would enter daylight savings on Saturday night as calls for disobedience gained steam. LBCI said in a statement that it would disobey Mikati's decision because it would have harmed its work, adding: "Lebanon is not an island". But later that day, Mikati issued the decision to stay in winter time. Some Twitter users shared an old recording of famed Lebanese composer and musician Ziad Rahbani speaking about daylight savings.

☆ Lebanon in confusion as daylight savings dispute deepens divisions
▼ + stars: | 2023-03-26 | by ( Timour Azhari | ) www.reuters.com time to read: +4 min

It said it would turn clocks forward on Saturday night and other Christian organisations, parties and schools announced similar plans. Businesses and media organizations, including two of Lebanon's main news channels LBCI and MTV, announced they too would enter daylight savings on Saturday night. But later that day, Mikati issued the decision to stay in winter time. Independent MP Waddah Sadek said on Twitter decisions were taken without "any consideration for the consequences or confusion that they cause". Some Twitter users shared an old recording of famed Lebanese composer and musician Ziad Rahbani speaking about daylight savings.

☆ Supreme Court personnel admitted telling their spouses about the draft Dobbs opinion overturning Roe v. Wade, investigation finds
▼ + stars: | 2023-01-19 | by ( Bryan Metzger | Oma Seddiq | ) www.businessinsider.com time to read: +2 min

The Supreme Court issued a report on its investigation into the leak of the draft Dobbs opinion. Some personnel admitted to telling their spouses about the opinion, which overturned Roe v. Wade. But investigators say they still haven't determined who leaked the opinion to the media. The revelation came as the result of a months-long investigation that sought to identify who leaked a draft opinion on Dobbs v. Jackson Women's Health Organization. At the conclusion of the report, investigators made a series of findings and recommendations, including reducing the number of people with access to draft opinions, clarifying confidentiality policies, and improving personnel training.

☆ Factbox: Twitter alternatives that users are turning to
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - After taking Twitter Inc private for $44 billion, Elon Musk has started making changes to the social media platform that have irked some users, making them look for alternatives. COHOSTCohost is an ad-free social media platform. The platform allows users to target an audience to enhance engagement on posts and says users can find experts on topics of discussion. TUMBLRTumblr is a social media website that was launched in 2007 which allows users to post long-form blog-style content with media elements such as photos and GIFs. It also allows users to chat with each other much like Twitter's direct messaging function.

☆ Don't buy a new iPhone or Apple Watch right now
▼ + stars: | 2022-08-25 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

It's a bad idea to plop down money for a new iPhone or Apple Watch right now. That bigger-screened regular iPhone 14 might be appealing to folks who want the largest display on an Apple phone but who haven't wanted to shell out more than $1,000 for the iPhone Pro Max. The same goes for the Apple Watch. Apple's expected to introduce a new mid-tier Apple Watch SE model. Plus, Bloomberg says Apple is planning a new high-end Apple Watch Pro that could be more rugged.

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