DIRS.INFO The most relevant business & tech news

☆ Welcome to the WFH Friday economy: It's a time for hair masks, spas, day drinking, and no-camera meetings
▼ + stars: | 2024-05-24 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Read previewFor Hannah Kristin, the last day of the workweek has a new name: Hair Mask Fridays. Sure, there were spurts of relaxed Fridays in manufacturing and Friday after-work drinking culture, but since the 1990s Fridays have been pretty much like every other day, according to Bloom. "And then from 2021 onwards, it started to become the WFH day. "Personally, I don't mind it, but driving in rush hour traffic every day twice a day is just not my favorite thing," she said. Are you completing side quests on WFH Fridays?

Persons: —, Hannah Kristin, Kristin, It's, Tom Colella, Colella, they're, Nicholas Bloom, Bloom, Michele Allard, Sara Daigle, hybridly, Daigle, Gen Organizations: Service, Business, BI, Placer.ai, Stanford University, Daigle Locations: Chicago, New York City, Brooklyn, Manhattan, Dallas

The nation’s highways and airports are expected to be crowded with people marking the unofficial start of summer this Memorial Day weekend. Travel volumes are expected to surpass pre-pandemic levels, according to recent data from the FAA and AAA. Last year, TSA reported passenger volumes that slightly exceeded those of 2019 for the stretch from Thursday before Memorial Day to the Wednesday after. AAA also forecasts a significant surge in air travel, with more than 3.5 million people expected to fly over Memorial Day weekend in 2024, reflecting a 9% increase from 2019. For the more than 38 million travelers AAA projects will drive, gas prices will average around $3.65 per gallon nationally, as of May 23.

Persons: — Organizations: FAA, AAA, TSA Locations: West, California, Mississippi

☆ China's war drills around Taiwan enter Day 2. Here's what it means for cross-strait relations
▼ + stars: | 2024-05-24 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

Members of Taiwan's military conduct routine exercises at Liaoluo Port in Kinmen on May 24, 2024. (Photo by I-HWA CHENG/AFP via Getty Images) I-hwa Cheng | Afp | Getty ImagesChina's latest military exercises around Taiwan risk escalating cross-strait tensions — but war remains unlikely, political observers say. Beijing warned that the two-day drills, which continued on Friday, were aimed at punishing the island's new President Lai Ching-te for his "hostility and provocations." The drills are "legitimate, timely and entirely necessary," as acts of "Taiwan independence" in any form "cannot be tolerated," it added. "This pretext for conducting military exercises not only does not contribute to peace and stability across the Taiwan Strait, but also highlights its hegemonic nature," the ministry said.

Persons: HWA CHENG, Cheng, Lai Ching, Lai, Xi Jinping, China's, Lai —, Wang Yi, Nancy Pelosi's, Xi, Joe Biden, Gabriel Wildau Organizations: HWA, Getty, Afp, Xinhua, Atlantic, China's Ministry of National Defense, Liberation Army, PLA, Eastern, Command, U.S ., Fujian, Guard, U.S, APEC, Teneo Intelligence, Republicans Locations: Liaoluo, Kinmen, China, Taiwan, AFP, Beijing, Eurasia, Republic of China, People's Republic of China, United States, U.S

☆ A US Navy carrier strike group locked in a Red Sea battle has fired over 500 munitions fighting the Houthis
▼ + stars: | 2024-05-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewThe US Navy carrier strike group battling the Houthis in the Red Sea has fired more than 500 munitions throughout its deployment, striking the rebels directly in Yemen and intercepting their missiles and drones. The strike group has leaned on its aircraft and warships to engage targets and defend against varying threats. Sailors observe as an F/A-18E Super Hornet lands on the flight deck aboard the Nimitz-class aircraft carrier USS Dwight D. Eisenhower in the Red Sea on March 12. Aircraft from the strike group have flown more than 27,200 hours across over 12,100 sorties. The Arleigh Burke-class guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on Oct. 19.

Persons: —, Dwight D, Eisenhower, Navy Carlos Del Toro, Arleigh Burke, Carney, Aaron Lau, National Intelligence Avril Haines, We've, It's Organizations: Service, US Navy, Eisenhower Carrier Strike, Ike, Business, Nimitz, Hornet, EA, Aircraft, Navy, Tomahawk, National Intelligence, Pentagon Locations: Yemen, Gulf, Aden, Iran, Hessen

☆ Democratic consultant who masterminded AI-generated fake Biden robocall scheme indicted on 26 charges
▼ + stars: | 2024-05-23 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Read previewThe Democratic consultant who admitted to masterminding a bogus Joe Biden robocall scheme has been hit with dozens of charges. This story is available exclusively to Business Insider subscribers. Phillips' press secretary previously told Business Insider that the Phillips campaign did not ask Kramer to create the fake Biden robocall, and that it was "disgusted" by the call and Kramer's alleged involvement. Kramer previously told Business Insider that "with a mere $500 investment, anyone could replicate my intentional call," adding that finding voters to reach out to was simple. Robocall fraud experts also previously warned Business Insider that the New Hampshire incident is "just the tip of the iceberg," and we should expect more to come in a dangerous new era for political spam calls.

Persons: —, Joe Biden, Steve Kramer, Kramer, Dean Phillips, Phillips, Biden, John Formella Organizations: Service, Business, NBC News, Minnesota Rep, Federal Communications Commission, New Hampshire Locations: New Orleans, New Hampshire

☆ Opinion: Rishi Sunak’s election looks like a final gasp
▼ + stars: | 2024-05-23 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +8 min

For those outside the Westminster bubble, the announcement felt less like a starting pistol than a final gasp. But unlike Sunak, who with his wife Akshata Murty is worth an estimated £651 million ($828 million), most of us can’t afford it. The British economy never fully recovered from the 2008 recession and, consciously or not, most people still feel the sting every day. As Sam Knight recently noted in the New Yorker, the average British worker is estimated to be £14,000 ($17,800) worse off per year now than they would be if earnings had risen at pre-crisis rates. Her disastrous mini-budget wiped £30 billion off the UK economy that autumn, according to independent think tank Resolution Foundation, and sent interest rates rocketing.

Persons: Holly Thomas, Katie Couric, Rishi Sunak, Keir Starmer, Tony Blair, Akshata Murty, Sam Knight, Brexit, Liz Truss, It’s, there’s, —, Boris Johnson, Johnson, who’d, that’s, Blair Organizations: Katie Couric Media, CNN, London CNN —, Conservative, Westminster, Labour, British Medical Association, BMA, Commission, Yorker, Evening, Office, National Statistics, Tory, Foundation Locations: London, Westminster, England, British, Europe, Rwanda

☆ I drove the electric Chevrolet Silverado. It's a beast that could convince truck people to love EVs.
▼ + stars: | 2024-05-23 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Read previewAfter a long wait, the Chevrolet Silverado EV has officially entered the electric truck wars. On this first drive with the truck, two things struck me immediately: its size and handling. Ultimately, I came away with the impression that the Silverado EV is built for people who love trucks — because of course it is. Trucks have always been Detroit's crown jewel, but big trucks and SUVs are going out of style in the EV segment. AdvertisementIn the end, the Silverado EV was fun to drive and handled well, but it's just too beefy for my taste.

Persons: —, let's, you'll, Tesla, it's Organizations: Service, Chevrolet Silverado EV, Business, EPA, Detroit, Silverado

☆ Nikki Haley: Biden campaign official meets with her supporters hours after she said she’d vote for Trump
▼ + stars: | 2024-05-23 | by ( Kit Maher | ) edition.cnn.com time to read: +3 min

CNN —A Biden campaign official met Wednesday night with Nikki Haley supporters from across several states in a pre-scheduled Zoom call hours after the former Republican presidential candidate said she would be voting for Donald Trump, two sources familiar with the call told CNN. The meeting was part of an ongoing effort by the Biden campaign to reach out to Haley voters. It was organized by the Haley Voters Working Group. “A lot of these people in this group are big supporters of Nikki Haley and want to support her in 2028,” he said. On the call Wednesday, the Haley voters raised some of their pressing policy concerns with Peñalosa, including the southern border, Ukraine and Israel.

Persons: CNN —, Nikki Haley, Donald Trump, Biden, Haley, Conservative Haley, Nikki, Juan Peñalosa, Joe Biden’s, Peñalosa, Trump, “ Trump, ” Haley, Robert Schwartz, ”, “, Harris, ” “, Schwartz, CNN’s Phil Mattingly Organizations: CNN, Biden, Republican, Haley, Group, Conservative, North Carolina, Hudson Institute, South, Trump, Haley Voters, Team Biden, Republicans Locations: Virginia , Massachusetts , Vermont , California, Florida, Georgia, Arizona, North, Washington, South Carolina, Ukraine, Israel, Mexico

☆ 'Zoomtown' slowdown: 18 cities where rents have plummeted from their pandemic peak
▼ + stars: | 2024-05-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

That figure was 0.7%, or $12, less than in 2023 but is still 22.5% higher than the pre-pandemic rent rate of $1,407 in April 2019. Advertisement18 cities where rents have fallenRenting is also much more affordable than it was during the pandemic peak. The typical Austin apartment in April went for $1,494, which is down 11.5% — or nearly $200 — from the peak rent of $1,689 in September 2022. Below are the 18 US cities, many of which became Zoomtowns during the pandemic, where apartment prices are down at least 5% from their post-2019 peak. Along with each is its median rent in April, year-over-year rent change, peak rent, and change from that peak rent figure.

Persons: —, Realtor.com, Jiayi Xu, Xu, Austin Organizations: Service, Business, Star Locations: Austin

☆ The Pre-Market Rundown 2: May 23, 2024
▼ + stars: | 2024-05-23 | 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 EmailThe Pre-Market Rundown 2CNBC brings you fast, accurate, and actionable business news and market updates.

Organizations: CNBC

☆ Cruz is just the latest Republican to appease Trump by raising 2024 voter fraud fears
▼ + stars: | 2024-05-23 | by ( Stephen Collinson | ) edition.cnn.com time to read: +8 min

Washington CNN —Top Republicans are already rushing to buy into a new 2024 election fraud narrative sown by ex-President Donald Trump in their zeal to appease their party’s presumptive nominee. The new Republican trend of casting doubt on the integrity of the 2024 election in advance was exhibited by Sen. Ted Cruz on Wednesday in an interview with CNN’s Kaitlan Collins. Despite Trump’s claims of voting irregularities, multiple courts, including the US Supreme Court, rejected the former president’s claims he was cheated out of power. The positioning looks a lot like laying the groundwork for a challenge to the fairness of the 2024 election if Trump loses in November. The idea that the 2024 election may not be free and fair was also raised recently by Ohio Sen. J.D.

Persons: Donald Trump, Sen, Ted Cruz, CNN’s Kaitlan Collins, Trump’s, William Barr, Cruz, Collins, ‘ Will, ” Cruz, “, Trump, Biden, I’m, Mike Pence, I’ll, ” Trump, it’s, Georgia —, Nikki Haley, ”, Florida Sen, Marco Rubio, …, Al Gore, Ohio Sen, J.D, Vance, CNN’s Dana, Dana, ” Vance Organizations: Washington CNN —, Republicans, Republican, Trump, US, Milwaukee Journal Sentinel, Biden, South Carolina Gov, Republican Party, Democratic, Democrats, Supreme, Ohio, Union Locations: Trump’s, Texas, Arizona, Georgia, Trump The Texas, Florida, “ State

☆ In fiery exchanges, lawmakers and university heads clashed over responses to campus antisemitism
▼ + stars: | 2024-05-23 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The House Committee on Education and the Workforce’s hearing on campus antisemitism Thursday came with no shortage of fiery exchanges between lawmakers and the heads of Northwestern University, Rutgers University and the University of California, Los Angeles (UCLA). University heads can’t winNorthwestern President Michael Schill and Rutgers University President Dr. Jonathan Holloway negotiated with protesters rather than authorizing police to disband encampments, which UCLA Chancellor Gene Block ultimately did. Schill and Holloway were accused of being complicit with protesters, though some Democratic lawmakers found their approaches admirable. A bounty of lawyerly responsesIf you tuned in to Thursday’s hearing and thought the responses university heads gave were pre-rehearsed, it’s because they likely were. The three university heads at the hearing had the advantage of learning from the prior campus hearings.

Persons: Thursday’s, Michael Schill, Dr, Jonathan Holloway, Gene Block, Holloway, “, Pramila, Block, Elise Stefanik, Schill, Rutgers ’ Holloway, UCLA’s, Liz Magill, Michael A, McCoy, Israel’s, “ Sir Organizations: New, New York CNN, Education, Northwestern University, Rutgers University, University of California, UCLA, University, can’t, Northwestern, Republican, ”, Rutgers, University of Pennsylvania, Workforce, Capitol Locations: New York, Los Angeles, Washington, Germany, Washington , DC

☆ 'AI revolution just getting started': Here's what Wall Street is saying about Nvidia's 1st-quarter earnings blowout
▼ + stars: | 2024-05-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Nvidia stock soared 9% on Thursday to record highs after its reported earnings. The company defied analyst expectations yet again, and said that demand for its AI chips continues to outstrip demand. Wall Street analysts were impressed by the results, with a slew of price target increases hitting the tape Thursday morning. Wedbush: "AI revolution just getting started"Analysts at Wedbush said the "AI gold rush" is just getting started as a "tidal wave" of spending on AI chips hits the entire tech sector. The AI Revolution starts with Nvidia and in our view the AI party is just getting started with the popcorn getting ready."

Persons: —, Goldman Sachs, it's, Nvidia's, Blackwell, Wedbush, AI Jensen Organizations: Service, Nvidia, Wall Street, Center, Data Center, Data, Blackwell, JPMorgan, Meta, Bank of America Locations: 2HCY24, CY25, CY24

☆ I waited in line for 5 hours at Something About Her, the new 'Vanderpump Rules' restaurant, but never even got a sandwich.
▼ + stars: | 2024-05-23 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +12 min

Cersei's Walk of Atonement this was not, but I couldn't believe how long I'd waited to try a sandwich. AdvertisementBut much like "Vanderpump Rules," the reality show that made Madix and Maloney famous, the opening day of their restaurant was exciting, tumultuous, and full of some surprising friendships. Something About Her has been 2 years in the makingMaloney and Madix first announced they were joining forces to open a sandwich shop in 2022, joining the growing "Vanderpump" restaurant universe. TomTom — the bar Vanderpump launched with Tom Schwartz and Tom Sandoval, the respective exes of Maloney and Madix — is a four-minute walk away. Hours 3-4: Sold-out sandwichesWe had now been in line for the length of an average Martin Scorsese movie.

Persons: —, Ariana Madix, Katie Maloney's, …, Maloney, Madix, Lisa Vanderpump, TomTom, Tom Schwartz, Tom Sandoval, Schwartz, Jax Taylor's, Katie Maloney, Phillip Faraone, Sandoval, Raquel Leviss, Roxie Hart, Anneta, Bravo, Kat, Viola, Reese, Meg, Peter Madrigal —, he's, Martin Scorsese, Sarah Fraser, James Kennedy, costars, Cameron, Kate, Nancy, Teri, We'd Organizations: Service, Business, Sandy's, LA's West Hollywood, TMZ Locations: Los Angeles, West Hollywood, LA's West, Chicago, LA, Australia, California

☆ The Taylor Swift Ticketmaster fiasco comes full circle as DOJ slams parent company with lawsuit
▼ + stars: | 2024-05-23 | by ( Katie Balevic | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Over a year after Ticketmaster crashed, preventing rabid Taylor Swift fans from purchasing tickets to her concert tour, the DOJ has announced an antitrust lawsuit against Ticketmaster's parent company, Live Nation Entertainment. Advertisement"This has given Live Nation and Ticketmaster the opportunity to freeze innovation and bend the industry to their own benefit. The lawsuit comes after Ticketmaster fumbled a pre-sale event in late 2022 for Taylor Swift's Eras Tour as fans competed with bots for a limited number of tickets. AdvertisementIn response to the antitrust suit, Live Nation said that "calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court."

Persons: —, Taylor Swift, Merrick Garland, Taylor, Swift Organizations: Service, Ticketmaster, DOJ, Entertainment, Business, Justice Department, Department

☆ My high school graduation was ruined. I'm now graduating from college and getting the ceremony I deserve.
▼ + stars: | 2024-05-23 | by ( Moses Jeanfrancois | ) www.businessinsider.com time to read: +4 min

Meanwhile, the details of our actual graduation ceremony became a mystery. Luckily, my high school decided to push our graduation to late July for an in-person ceremony. AdvertisementThose of us who persevered through the strange pandemic high school graduation are now graduating from college. The pandemic rippled throughout my college careerAfter my high school graduation, the awkward Zoom school years didn't end. After everything my class has been through, graduation felt more meaningful and lively.

Persons: —, It'd, wasn't Organizations: Service, Sunrise, Business, New School, Gaza Locations: New Jersey, New York City

☆ Haley will vote for the Trump ‘chaos’ that she once decried
▼ + stars: | 2024-05-23 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Before losing her home state’s primary to Trump earlier this year, Haley lashed out at Republicans who backed Trump despite privately despairing over him. They’re just too afraid to say it out loud.”Now Haley is saying out loud she’s voting for Trump. Haley seeks to preserve her futureThere is every sign that Haley wants to run again for president once Trump finally leaves the stage. Trump has made no effort to appeal to Haley voters during the march to the nomination despite his dire need to court suburban voters. “Rightly or wrongly, chaos follows (Trump),” Haley complained at almost every event.

Persons: Nikki Haley, Donald Trump, ”, couldn’t, Joe Biden, “, ” Haley, Haley, Trump, Biden, —, They’re, Ted Cruz, CNN’s Kaitlan Collins, I’m, Cruz, There’s, Liz Cheney, repudiating, John Bolton, ” Bolton, CNN’s Wolf, Haley –, Ron DeSantis, “ There’s, they’d, Ronald Reagan’s, Bush, Vladimir Putin, Kim Jong Un, “ Trump, CNN’s Jake Tapper, Tapper, Putin Organizations: CNN, South, Trump, United Nations, president’s, Harvard Law School, Democrats, Wyoming, GOP, Vermont, Florida Gov, Republicans, Hudson Institute, Republican, freeloading, NATO, Hampshire Locations: South Carolina, Texas, Washington, Florida, Iowa, Georgia, New Hampshire, Russian, North Korean, Europe, Asia, United States, Columbia , South Carolina

☆ Buying a piece of Nvidia is about to get a whole lot cheaper
▼ + stars: | 2024-05-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewBuying a share of Nvidia is about to get a lot cheaper. The microchip maker announced a 10-for-1 stock split in its first-quarter earnings on Wednesday. Nvidia's management said the goal of the stock split was to "make stock ownership more accessible to employees and investors." Chipotle approved a 50-for-1 stock split in April, saying it would make its shares "more accessible to employees as well as a broader range of investors." AdvertisementHe did so because Berkshire was acquiring a railway company, and he wanted its shareholders to be able to easily exchange their shares for Berkshire shares in a tax-free swap.

Persons: —, Price, Elon Musk's Tesla, Warren Buffett, it's Organizations: Service, Nvidia, Business, Dow, Big Tech, Apple, Microsoft, EV, Berkshire Hathaway's, Berkshire, Burlington Northern Locations: Berkshire

☆ The Pre-Market Rundown: May 23, 2024
▼ + stars: | 2024-05-23 | 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 EmailNews Update – Pre-MarketsCNBC brings you fast, accurate, and actionable business news and market updates.

Organizations: CNBC

☆ This millennial plans weddings for India's rich and famous — don't overlook these 3 financial rules, she says
▼ + stars: | 2024-05-22 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +2 min

Ahead of their big day, Ambani and Merchant threw a lavish three-day pre-nuptial bash in March. "The three biggest moments, culturally, for India are Bollywood, cricket and weddings," Mehak Sagar, co-founder of WedMeGood, told CNBC Make It. The Indian wedding industry is estimated to have brought in about 4.74 trillion rupees (about $56 billion) during the 2023 wedding season, thus making it a "trillion-dollar enterprise," according to the 2024 Wedding Industry Report by WedMeGood, a wedding planner platform. "Given that it is the fourth largest industry in India — the Indian wedding industry touches maybe 16 to 20 [other] industries," Sagar said. Lavish Indian weddings are no stranger to Tina Tharwani.

Persons: Anant Ambani, Mukesh Ambani, Radhika Merchant, Ambani, Merchant, Bill Gates, Rihanna, Ivanka Trump, Mehak Sagar, WedMeGood, Sagar, Tina Tharwani, Nick Jonas, Priyanka Chopra, Anushka Sharma, Virat, Shaadi Organizations: Microsoft, CNBC, Shaadi Locations: India, Silicon Valley, Mumbai

☆ Inflation is biting into Target’s ‘Tar-zhay’ luster
▼ + stars: | 2024-05-22 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Target has spent decades building a reputation for cheap chic home goods, clothing and other merchandise. It was the fourth-straight quarter of sales declines at Target (TGT). More than half of Target’s merchandise is discretionary. Target is trying to lure back shoppers by cutting prices on some key items and adding its own brands. The company also recently created a new house brand called Dealworthy to take on dollar stores and Walmart.

Persons: Target, pare Organizations: New, New York CNN — Target, Walmart, Costco, Target Locations: New York

☆ The Ukraine war is forcing migrating eagles to change their flight paths, scientists say
▼ + stars: | 2024-05-22 | by ( Amarachi Orie | ) edition.cnn.com time to read: +6 min

CNN —Greater spotted eagles are already a species under threat. Listed as “vulnerable” by the International Union for Conservation of Nature, greater spotted eagles have been largely eradicated from western and central Europe, according to the study. On March 1, 2022, a week after Russia invaded Ukraine, the first of 21 tagged greater spotted eagles crossed into Ukraine on its usual migration, according to researchers from the UK and Estonia. The researchers observed no difference in migration performance and deviation patterns outside of Ukraine, according to the study. Russell said the war in Ukraine is “really raising the profile of some of the environmental issues caused by conflict.

Persons: ”, Charlie Russell, Russell, ” Russell, “, Nathalie Pettorelli, Pettorelli, ” Pettorelli, “ ecocide ” Organizations: CNN, Eagles, International Union for Conservation of Nature, “, UK’s University of East, Zoological Society of London Locations: Ukraine, Europe, Poland, Belarus, Russia, Estonia, UK’s University of East Anglia, “

☆ The key levels to watch on Nvidia's stock chart with its big earnings report almost here
▼ + stars: | 2024-05-22 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

That's not a lot of wiggle room if the stock reacts negatively to earnings: if the stock undercuts $915 (and stays below it), the breakout would be nullified. In other words, if an upside gap is filled this time instead, the market could be telling us that something has changed. In other words, NVDA has had many years of success both as a company and as a stock. It would take a lot more than a reaction to a single earnings report to change that. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: it's, we're, That's, NVDA, Frank Cappelleri Organizations: Nvidia

☆ Home sales slipped unexpectedly in April, despite big gains in supply
▼ + stars: | 2024-05-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%. The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year. The median price in the Northeast was $458,500, up 8.5% year over year. The median price in the West was $629,600, up 9.3% from April 2023. Correction: The supply of homes priced at more than $1 million was up 34% year over year.

Persons: Lawrence Yun, Yun Organizations: National Association of Realtors, Realtors Locations: Issaquah Highlands, Issaquah , Washington, US, Midwest, West

☆ Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.

Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon

Search resuls for: "pre"

25 mentions found