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☆ Apollo Global says the Fed won't cut rates this year because inflation is moving higher again
▼ + stars: | 2024-03-01 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Some measures of inflation are trending higher, Apollo's Torsten Slok said in a note to clients. The upshot is, "the Fed will not cut rates this year and rates are going to stay higher for longer." Slok cited a host of data showing underlying measures of trend inflation moving higher or set to do so, mentioning the Fed-preferred "supercore" basket of goods and services. He also noted evidence of higher prices paid in both manufacturing and the service data as further evidence of storm clouds gathering. In this environment, Slok said the Fed will need most of the year to continue batting down inflation.

Persons: Apollo's Torsten Slok, Slok Organizations: Federal Reserve, Apollo Global Management, Deutsche Bank Locations: U.S

☆ Californians are fleeing amid sky-high housing costs. Here are the top 10 states they're flocking to.
▼ + stars: | 2023-10-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Over 102,000 people left California for Texas during this period, many citing the state's lower housing costs are reasons for making the move. This has forced many California residents to spend a significant portion of their income on housing, cutting away at their savings. Another 74,100 left California for Arizona, in contrast to 27,400 Arizona residents who moved to California. Many are likely moving to Arizona for the state's lower cost of living, lower taxes, and employment opportunities in sectors like semiconductor manufacturing. Over 50,700 former California residents made the move cross-country to Florida — and over 28,500 vice versa.

Persons: — Organizations: Service, American Community Survey, Florida —, New Locations: California, Texas, Arizona, Florida, Washington, Nevada, New Jersey, Idaho, Tennessee

☆ Meet Nancy Walton Laurie, the Walmart heiress whose $300 million yacht got spray-painted by climate activists
▼ + stars: | 2023-07-17 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +1 min

Nancy Walton Laurie is the daughter of Walmart cofounder James "Bud" Walton. The 361-feet long yacht is worth an estimated $300 million and is called the "Kaos," It includes a swimming pool, cinema, spa, and aquarium, according to Yacht Bible. It also belongs to one of the wealthiest women in the world, Walmart heiress Nancy Walton Laurie. After activists spray-painted the stern of the yacht, they held up a sign that read "You consume others suffer." Here's what you need to know about Nancy Walton Laurie.

Persons: Nancy Walton Laurie, James, Bud, Walton, Nancy Organizations: Walmart, Service, Twitter Locations: Ibiza, Spain

☆ A Tesla owner says he was locked out of his EV after its 12-volt battery died amid the Texas heat
▼ + stars: | 2023-07-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Dennis Hegstad said his Model 3 was stuck in his driveway after its 12-volt battery died. The Tesla owner attributes the issue to the impact of the Texas summer heat on the battery. A Tesla owner said he was locked out of his Model 3 in his driveway after the 12-volt battery, which powers the car's smaller functions including windows and doors, died last week amid the Texas summer heat. Hegstad is not the first Tesla owner to report issues with getting into his EV. Last year, a Tesla owner went viral on TikTok after he said he was locked out of his Model S after the lithium-ion battery died.

Persons: Dennis Hegstad, Tesla, Hegstad, Tesla's, — Hegstad, he'd, Glenn Howerton Organizations: EV, Twitter, Tesla Locations: Texas, Austin, hosing, Philadelphia, Los Angeles

Federal worker safety inspections have alleged poor maintenance or a lack of safety training at some Tyson plants where ammonia leaks injured workers. CNN interviewed eleven current or former Tyson workers across three different plants who experienced ammonia leaks. !”A safety sign hangs on a fence at a Tyson plant in Hope, Arkansas, in March 2023. Still, some Tyson workers who lived through ammonia leaks said they wished more had been done to protect them. That means that the data doesn’t necessarily cover Tyson plants or other meat facilities that hold smaller amounts of ammonia.

☆ A man is suing a Trump beach resort, blaming its 'scorching hot' pool decks and beach sand for a partial amputation of his foot
▼ + stars: | 2023-04-30 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A New Jersey man stayed with his family at Trump International Beach Resort in August 2022. He accused the resort of negligence for allowing the pool deck and beach sand to get "scorching hot." A New Jersey man is suing the Trump International Beach Resort in Miami over "dangerously hot" surfaces that he claims resulted in a partial amputation of his foot. The temperature was at least 95 degrees each day, the lawsuit said, and Lekas "generally" wore sandals to walk on the pool decks and beach sand. Lekas' attorney, Trump International Beach Resort, and Dezer Properties didn't immediately respond to requests for comment from Insider made outside normal working hours.

☆ Here are Tuesday's biggest analyst calls: Meta, Tesla, Amazon, Nike, Hasbro, First Republic & more
▼ + stars: | 2023-04-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Citi upgrades Squarespace to buy from neutral Citi said it sees an "improved growth outlook" for the website hosing company. Citi reiterates Netflix as buy Citi said it sees more upside in shares of Netflix. Credit Suisse upgrades Zebra Technologies to outperform from neutral Credit Suisse upgraded the computer technology company due to Zebra' s strength in Europe. Credit Suisse reiterates Amazon as outperform Credit Suisse said it's standing by shares of Amazon heading into earnings later this week. Citi reiterates Meta as buy Citi said it's staying bullish heading into Meta earnings on Wednesday. "

☆ United Airlines crew reported 'a possible fire' in a plane's engine, causing the aircraft to turn around, FAA says
▼ + stars: | 2023-03-30 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

A United Airlines flight to Brazil returned to Texas after reports of a possible engine fire. The FAA told Insider the airline crew reported the incident during the flight. The aircraft returned to George Bush Intercontinental Airport and landed safely, the FAA said. Around two hours after takeoff, the site showed the plane circled back to George Bush Intercontinental Airport where it then landed. The FAA, George Bush Airport, and Houston's fire department didn't respond to Insider's request for comment.

☆ See photos from the Tesla Model S that 'spontaneously' caught fire while driving down the highway
▼ + stars: | 2023-01-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A Tesla Model S "spontaneously caught fire" on a California highway on Saturday. Metro Fire Sacramento said that it took about 6,000 gallons of water to put the fire out. No one was injured in the incident, and the driver was able to safely pull over to the side of the highway, the department said. It took the fire department about 6,000 gallons of water to put out the fire. In 2020, the National Transportation Safety Board said that EV battery fires can represent a risk to first responders, including electric shock and a reignited fire due to the "stranded" energy in a damaged EV battery.

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