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☆ Senate Democrats launch investigation into alleged Trump ‘quid pro quo’ with oil executives
▼ + stars: | 2024-05-23 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +3 min

CNN —Senate Democrats have launched an inquiry into recent reports that Donald Trump offered oil executives the reversal of some of President Joe Biden’s climate policies upon the former president’s reelection in exchange for campaign contributions. The committees are seeking “descriptions of policy proposals discussed” and “materials distributed to any attendees” at the event. “Time and time again, both Mr. Trump and the U.S. oil and gas industry have proved they are willing to sell out Americans to pad their own pockets,” Sens. In his first term, Trump overturned more than 100 environmental rules and actions put in place by the Obama administration. Trump has vowed that if he’s reelected he will reverse those actions and boost fossil fuels, and oil and gas drilling.

Persons: Donald Trump, Joe Biden’s, Trump, Sens, Ron Wyden, Sheldon Whitehouse, Biden, ”, ” Trump, Karoline Leavitt, Obama, he’s, CNN’s Morgan Rimmer, Kate Sullivan, Ella Nilsen, Jeremy Herb Organizations: CNN, Democrats, Senate Finance, ExxonMobile, Chevron, Oregon, Big, The Washington Post, Trump Locations: U.S, Rhode, The, Lago

☆ Republican senators defend Alito over second controversial flag
▼ + stars: | 2024-05-23 | by ( Manu Raju | Morgan Rimmer | ) edition.cnn.com time to read: +5 min

CNN —Top Republican senators are defending Supreme Court Justice Samuel Alito as the conservative justice became embroiled in a second flag controversy, even as some Democrats call for Alito to recuse himself from key matters pending before the high court. “I just think Democrats are determined to harass members of the Supreme Court. So obviously, they don’t like Justice Alito or the decisions he makes,” he told CNN. Several prominent Republican senators criticized Alito over the upside-down flag. “I think the question is how many MAGA battle flags does the Supreme Court justice have to fly until the rest of the court takes it seriously?” he asked.

Persons: Samuel Alito, Alito, Donald Trump, Sen, John Cornyn, “, Sotomayor, Kagan, ”, Clarence Thomas, —, GOP Sen, Chuck Grassley, Sonia Sotomayor, “ I’m, ’, Grassley, Trump, Joe Biden’s, –, Thom Tillis, I’m, you’re, ” Tillis, Ruth Bader Ginsburg, Bill Cassidy, Cassidy, Sheldon Whitehouse, MAGA, Hakeem Jeffries, ” Jeffries, Katherine Clark, Alito’s, ” Clark, CNN’s Haley Talbot, Annie Grayer Organizations: CNN, Top Republican, Capitol, Committee, GOP, “, Supreme, New York Times, Times, Senate, Democratic, Democrat, United States Supreme Locations: New Jersey

☆ With JPMorgan, Mastercard on board in biometric 'breakthrough' year, you may soon start paying with your face
▼ + stars: | 2024-05-20 | by ( Todd Wasserman | ) www.cnbc.com time to read: +5 min

In January, Steak 'N Shake, a fast-casual restaurant in the Midwest, started installing facial recognition kiosks in its 300 locations for patron check-in. "We believe our partnership with JPMorgan is a watershed moment for biometric payments as it represents the first time a leading merchant acquirer has agreed to push biometric payments to its merchant customers," Miller said. "JPMorgan brings the kind of credibility and assurance that both merchants and consumers need to adopt biometric payments." The majority still prefer fingerprint scans to facial recognition, according to a 2023 survey from PYMENTS, but age is a factor. Juniper Research forecasts over 100% market growth for global biometric payments between 2024 and 2028, and by 2025, $3 trillion in mobile, biometric-secured payments.

Persons: PopID, Dennis Gamiello, John Miller, Miller, acquirer, Sheldon Jacobson, Jacobson Organizations: Foods, Mastercard, NEC, Target, AliPay, KFC, JPMorgan, Consumers, Juniper Research, University of Illinois, Facebook Locations: Flippy, Pasadena , Calif, Midwest, Brazil, Asia, Pacific, Illinois, China, McDonald's, U.S, Urbana, Champaign

☆ Insider Today: Etihad Airways' 'apartment' seats
▼ + stars: | 2024-05-18 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Open House OpticsThis week's dispatchSkinny houses, big dramaAdvertisementCould you live in a 10-foot-wide house? That's the case for this skinny home, which was built out of spite because the neighbors didn't want the house built on a leftover residual lot. iStock; Rebecca Zisser/BIEtihad Airways' private 'apartments'Forget business class — Etihad Airways offers private "apartments," or rooms with a closing door, a couch that converts to a bed, and a reclining chair. Rory JonesBuilding a home in BaliDespite never visiting the Indonesian island, an Australian couple built an investment property in Bali.

Persons: —, didn't, Jordan, Rebecca Zisser, Guy Fieri, Kevin Mazur, Fieri, it's, Fiona Chandra, Rory, Casey Jones, Rory Jones, they're, Tyler Le, Colin, Young Sheldon, Ashley Madison Organizations: Service, Business, BI Etihad Airways, Etihad Airways, Conrad, CBS Locations: Albuquerque , New Mexico, Mission , Texas, New Haven , Connecticut, Jacksonville Beach , Florida, Washington ,, Maldives, Conrad Maldives, Bali, Indonesian, Australian

☆ The 11 best things to stream this weekend, from a new season of 'Bridgerton' to the series finale of 'Young Sheldon'
▼ + stars: | 2024-05-17 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +1 min

A new Netflix docuseries about the Ashley Madison hack is streaming now. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But even if historical romance isn't your jam, there are plenty of other options for what to watch this weekend. This story is available exclusively to Business Insider subscribers.

Persons: Ashley Madison, Young Sheldon, Mary, George, — Organizations: Netflix, Service, Business

☆ Justice Samuel Alito blames upside-down American flag on his wife and a flap with neighbors
▼ + stars: | 2024-05-17 | by ( John Fritze | Holmes Lybrand | ) edition.cnn.com time to read: +7 min

Alito said that a neighbor had posted a sign saying “F**k Trump” near a school bus stop and then a sign attacking his wife, Martha-Ann Alito. The upside-down flag was a symbol for former President Donald Trump’s supporters who falsely claimed widespread fraud in the presidential election. A spokeswoman for the Supreme Court has not respond to CNN’s requests for comment. “Flying an upside-down American flag — a symbol of the so-called ‘Stop the Steal’ movement — clearly creates the appearance of bias,” Durbin said in a statement. Renewed calls for ethics reformThe Supreme Court is weighing major cases this term tied to the 2020 election and the attack on the Capitol.

Persons: Samuel Alito, Alito, Martha, Ann Alito, Fox, Donald Trump’s, Tim Walz, “ I’m, Joe Biden’s, “, ”, “ It’s, Trump, Hank Johnson, Clarence Thomas, ” MAGA, Thomas, ” Johnson, ” Sen, Dick Durbin, ” Durbin, Sen, Tom Cotton, Carolina Sen, Lindsey Graham, Jack Smith’s, John Roberts, Sheldon Whitehouse, ” Whitehouse, Roe, Wade, Renee Knake Jefferson, ” Jefferson Organizations: CNN, Fox News, Trump, Democratic, Capitol, Minnesota Gov, New York Times, Times, Gadsden, Georgia Democrat, Committee, Illinois Democrat, Republicans, Arkansas Republican, Republican, Congress, Supreme, Rhode, Rhode Island Democrat, ”, University of Houston Law Center Locations: Minnesota, Alexandria , Virginia, Washington, DC, Georgia, House, Arkansas, ”, Carolina, Rhode Island

☆ ‘El joven Sheldon’ superó con éxito los vaivenes de la televisión
▼ + stars: | 2024-05-16 | by ( John Koblin | ) www.nytimes.com time to read: 1 min

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☆ How ‘Young Sheldon’ Successfully Rode the Turmoil in TV
▼ + stars: | 2024-05-16 | by ( John Koblin | ) www.nytimes.com time to read: 1 min

On Thursday, “Young Sheldon,” the successful CBS spinoff of “The Big Bang Theory,” will air its final episode, concluding a seven-year run. “Young Sheldon” never quite captured the same spot in the zeitgeist as its predecessor. A ‘Peak TV’ BeginningOn the one hand, “Young Sheldon” had the ingredients for a surefire hit. “The Big Bang Theory” was a big success, and could help bring a strong lead-in audience. It was, in the words of one top CBS executive, “the quickest pitch and the quickest ‘yes’ in the history of television.”

Persons: “ Young Sheldon, ”, “ Young Sheldon ”, Chuck Lorre, “ Organizations: CBS

Associate Supreme Court Justice Clarence Thomas arrives for the swearing-in ceremony of Neil Gorsuch as an Associate Supreme Court Justice in the Rose Garden of the White House, Washington, D.C., April 10, 2017. Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome. The letter to Thomas's lawyer, dated Tuesday, raises questions about potential tax violations by the conservative justice, who is the longest-serving member of the Supreme Court. Democrats point to reports that his wife, Ginni Thomas, took part in efforts to overturn the results of the 2020 election. The Supreme Court heard arguments in Trump's immunity appeal on April 25, with Thomas on the bench.

Persons: Clarence Thomas, Neil Gorsuch, Ron Wyden, Sheldon Whitehouse, Thomas, Anthony Welters, Prevost Le, Wyden, Elliot Berke, Whitehouse, Justice Thomas, Welters, Berke, ProPublica, Harlan Crow, Harlan, Donald Trump, Ginni Thomas Organizations: Justice, White House, D.C, New York Times, Finance Committee Locations: Rose, Washington, Welters

☆ Who Are Key Players in the Menendez Case?
▼ + stars: | 2024-05-11 | by ( Tracey Tully | Benjamin Weiser | ) www.nytimes.com time to read: +7 min

Who Are Key Players in the Menendez Case? Mr. Menendez goes to trial on May 13 with two of the businessmen, Fred Daibes and Wael Hana. Fred Daibes New Jersey Real Estate Developer Mr. Daibes is accused of giving Mr. Menendez furniture, gold and cash. Nadine Menendez Mr. Menendez’s Wife Ms. Menendez served as a go-between for Mr. Menendez, Egyptian intelligence officials and men who were seeking political favors from the senator, according to the indictment. Defense LawyersAdam Fee Lawyer for Robert Menendez He previously spent five years as a prosecutor in the U.S. attorney’s office for the Southern District — the same office prosecuting Mr. Menendez.

Persons: Menendez, Robert Menendez, Nadine Menendez, Mr, Fred Daibes, Wael Hana, Menendez's, Daibes, Nadine Menendez Mr, Menendez’s, Ms, Jose Uribe, Uribe, Uribe's, Sidney H, Stein, Bill Clinton, Jennifer Shah, Hassan Nemazee, Damian Williams, Williams, President Biden, Sam Bankman, Fried, Juan Orlando Hernández, Christina Clark, Clark, Charles McGonigal, Catherine Ghosh, Eli Mark, Paul Monteleoni, Robert Hadden, Lara Pomerantz, Ghislaine Maxwell, Jeffrey Epstein, Norman Seabrook, Daniel Richenthal, Sheldon Silver, Michael Avenatti, Adam Fee, Fee, Avi Weitzman, Lawrence Lustberg Organizations: Democrat, Robert Menendez New Jersey, Senate Foreign Relations, Jersey Real, EG, Prosecutors, United, Jose Uribe Former New, Benz, U.S, Southern, of, Democratic, Attorney, Southern District of, ex, Public, New, New York City Housing Authority, Justice Department, Southern District’s, New York State Assembly, Nike . Defense, Southern District Locations: New Jersey, Manhattan, Jersey, Egypt, Qatar, United States, Jose Uribe Former New Jersey, of New York, Southern District, Southern District of New York, Russian, New York City, Brooklyn, Columbia, New York, U.S, California

☆ Asia heatwave: Record temperatures cancel classes, widening learning gaps across Southeast Asia
▼ + stars: | 2024-05-09 | by ( Heather Chen | Kathleen Magramo | ) edition.cnn.com time to read: +8 min

His class of 43 students pass around mini hand-held fans during lessons on most days to keep cool. More than 33 million children were impacted as a result of the heatwave, according to groups like Save the Children and UNICEF. The worst hit were poor children in rural areas whose families couldn’t afford devices like laptops and tablets to facilitate remote learning, UNICEF says. “We don’t allow children outside when temperatures get too hot,” said Bong Samreth, who teaches at a public school in Phnom Penh. Loose, lightweight and light colored clothing was also advised for students to protect them from sunburns and heat exposure.

Persons: Seila, ”, “, —, Sheldon Yett, ” Yett, Bong Samreth, Ezra Acayan, Benjo Basas, Basas, Mirasol, Hang Chuon Naron, Ferdinand Marcos Jr, Chaideer Mahyuddin, it’s, Joy Reyes Organizations: Hong Kong CNN, CNN, Children, UNICEF, UN, ”, Volunteers, Getty, Governments Locations: Hong Kong, Cambodia, Phnom Penh, South, Southeast Asia, Bangladesh, Philippines, Tondo, Manila, Pangasinan, Philippine, Banda Aceh, Indonesia, AFP

☆ Cyberattack on UnitedHealth firm forces doctors to dig into personal savings to stay afloat
▼ + stars: | 2024-04-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +19 min

Change Healthcare offers payment and revenue cycle management tools, and other solutions such as electronic prescription software. On Feb. 21, UnitedHealth Group , which owns Change Healthcare, discovered that hackers compromised part of the unit's information technology systems. UnitedHealth told CNBC earlier this month that there is "no evidence of any new cyber incident at Change Healthcare." It's just one of the ways Change Healthcare touches cash flow within the health-care sector. A controversial mergerSheldon Cooper | Sopa Images | Lightrocket | Getty ImagesUnitedHealth's ownership of Change Healthcare has raised eyebrows from the outset.

Persons: Omar Marques, Dr, Angeli Maun Akey, Akey, she's, UnitedHealth, I've, Andrew, Mike Bradley, Barbara McAneny, McAneny, Sarah Carlson, Carlson, Sheldon Cooper, Optum, Michael Nagle, Tyler Kisling, Kisling, he's, There's, it's, Purvi, Parikh hadn't, they've, Amit Phull, Phull, Igor Golovniov Organizations: Lightrocket, CNBC, Healthcare, UnitedHealth, U.S . Securities, Exchange Commission, Change, Inc, Bloomberg, Getty, U.S, American Medical Association, AMA, U.S . Department of Justice, DOJ, U.S . Department of Health, Human Services, Wall Street, New York Stock Exchange, Change Healthcare Locations: Gainesville , Florida, U.S, Minnetonka , Minnesota, UnitedHealth's, New Mexico, Boulder , Colorado, California, New York City, UnitedHealth

☆ Every TV show ending in 2024, from 'Curb Your Enthusiasm' to 'Yellowstone'
▼ + stars: | 2024-04-16 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +2 min

9 TV shows aired their final episodes this year, including "Curb Your Enthusiasm," which premiered in 2000. Meanwhile, long-running shows including "Magnum P.I.," "La Brea," and "Good Trouble" have also come to a premature end. Other series like "Bob Hearts Abishola" and "S.W.A.T" were affected by TV networks' budget cuts. This may have had a ripple effect, with streamers and TV networks canceling or reducing their shows to make up for the losses of the last year. Here's what to know about all the TV series that have been canceled or are scheduled to end this year.

Persons: Young Sheldon, —, Larry David, David, Bob Hearts Organizations: Service, HBO Locations: La Brea

☆ We're a Gen Z couple making $250,000 combined, but it doesn't feel like we're top 10% earners
▼ + stars: | 2024-04-12 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Together, the New York City-based couple earns about $250,000 annually, with both making six-figure salaries. We're both less than five years into our careers, and while we're considered in the top 10% of earners, it doesn't feel like that at all. Whatever I have left after wedding expenses, I consider my discretionary spending money. My food and travel expenses are typically paid for when I'm working late into the evening, so it saves me a lot of charges.

Persons: —, Sheldon, we're, we'll, I've, Leon Dore —, I'm Organizations: Service, Camry, New, Bureau of Labor Statistics, Business, CorePower Locations: New York City, Central Park, South Africa, Singapore, Paris, Japan

How to watch Young Sheldon in the USYoung Sheldon airs Thursday nights at 8 p.m. Shop at MaxYou can also access CBS without cable via a live TV package like Hulu + Live TV. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus. Shop at HuluHow to watch Young Sheldon in the UKIf you want to watch Young Sheldon in the UK, you'll need to create a Channel 4 account, which is free. How to watch Young Sheldon in New ZealandYoung Sheldon Season 7 is available on TVNZ+ in New Zealand.

Persons: Sheldon, Young Sheldon, Jim Parsons, Sheldon Cooper, Iain Armitage, Lance Barber, Zoe Perry, Annie Potts, we've, HBO Max, it's, Hulu's, Canada Young Sheldon, New Zealand Young Sheldon, ExpressVPN Organizations: Business, CBS, Paramount, Showtime, Paramount Plus, Nickelodeon, Comedy Central, BET, MTV, Max, Netflix, HBO, Warner Bros, Hulu, Disney, ESPN, Disney Plus, CTV, TVNZ Locations: East Texas, Canada, New Zealand

☆ Trump Urges Israel to ‘Finish Up Your War’
▼ + stars: | 2024-03-25 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump, in an interview with a conservative Israeli news outlet that was published on Monday, exhorted Israel “to finish up your war,” mixing bellicose support for the government of Israel with harsh warnings that the Jewish state was losing international support by providing “a very bad picture for the world.”But while Mr. Trump had typically harsh words for President Biden — he called Mr. Biden “dumb” — he offered no prescriptions for what the United States should do, or for what he would do, if elected, to bring the war in Gaza to an end or to advance the cause of peace between Israel and the Palestinians. The interview with Israel Hayom, a publication started by the conservative American casino magnate Sheldon Adelson, was released on the same day that the Biden administration allowed the United Nations Security Council to pass a resolution demanding a cease-fire in Gaza. It also came as former members of Mr. Trump’s administration have become more outspoken on policies that diverge sharply from President Biden’s. Jared Kushner, Mr. Trump’s son-in-law and a former senior White House adviser who led the Trump administration’s diplomatic efforts in the Middle East, took heat last week for calling the war in Gaza “a little bit of an unfortunate situation,” then adding, “but from Israel’s perspective I would do my best to move the people out and then clean it up.”

Persons: Donald J, Trump, Israel “, Biden —, Biden, Israel Hayom, Sheldon Adelson, Trump’s, Biden’s, Jared Kushner, Mr, ” Organizations: American, United Nations Security Council, White, Trump Locations: Israeli, Israel, United States, Gaza

ST. LOUIS (AP) — Children and grandchildren of former U.S. Sen. Jean Carnahan of Missouri recalled her wit, curiosity, kindness and hard work during a public memorial service on Saturday. Carnahan, 90, died Jan. 30 in hospice care in suburban St. Louis after a short illness. “In the last few days, as if preparing to be shot out of the cannon, Mom told us, ‘I’m ready to blast out,’” one of her sons, Russ Carnahan, said to hundreds gathered at The Sheldon Concert Hall in St. Louis, the St. Louis Post-Dispatch reported. Another son, Tim Carnahan, told mourners that he has realized recently how much he wants to emulate his mother. “It means showing the world who you are by what you do and then doing it with passion.

Persons: Sen, Jean Carnahan of Missouri, Carnahan, Jan, Louis, “, ‘, ’, Russ Carnahan, Mom, ” Carnahan, Missouri's, Mel Carnahan, Republican John Ashcroft, Randy, Chris Sifford, Mel Carnahan's, Jean Carnahan, Tim Carnahan, ” Organizations: LOUIS, Louis Post, Dispatch, Democratic, Republican Locations: St, U.S

☆ Trump criticizes Fed Chair Powell for considering interest rate cuts this year to 'help the Democrats' win elections
▼ + stars: | 2024-02-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +2 min

On a Friday morning interview with Fox News, Trump criticized Federal Reserve Chair Jerome Powell's handling of the economy, particularly regarding interest rates. "I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates," Trump said, adding that "it looks to me like he's trying to lower interest rates for the sake of maybe getting people elected." While the committee's Summary of Economic Projections in December penciled in three interest rate cuts for this year, Powell said on Wednesday that it's highly unlikely those cuts will take place at the next meeting in March. The jobs data on Friday will support a decision to delay rate cuts until after March — the US economy beat expectations by adding 353,000 jobs. However, some Democratic lawmakers have been urging Powell to consider cutting interest rates sooner rather than later to give Americans financial relief.

Persons: Donald Trump's, Trump, Jerome Powell's, Powell, reappoint Powell, Elizabeth Warren, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse Organizations: Service, Fox News, Federal

Evidence of a strong economy has so far been lost on a general public that still feels the pinch of inflation and worries about the uncertainty of life in 2024. Signs of a thaw in public opinion, but pessimism still dominatesA new CNN poll shows Biden still has a lot of convincing to do: Perception of the economy remains deep under water. However, if hiring remains strong and inflation keeps falling, it may become easier for Biden to convince voters he’s doing a good job strengthening the economy. CNN’s polling editor Ariel Edwards-Levy notes that about half the country, 48%, thinks the economy remains in a downturn. Their letter is proof that the fact of a strong economy is felt, if at all, in different ways.

Persons: Phil, Joe Biden’s, Biden, Donald Trump, “, Trump, Ariel Edwards, Levy, that’s, Sen, Elizabeth Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse Organizations: CNN, Bureau of Labor Statistics, Trump, Federal, Fed, Democratic

☆ Mark Cuban: These 2 industries will be the 'next wave of revenue generation' in sports—but they 'aren't my strengths'
▼ + stars: | 2024-02-01 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

"To spend more time with my family and because I believe the next wave of revenue generation is around real estate and entertainment and those aren't my strengths," the billionaire responded. Cuban has never been shy about pointing out where his strengths lie, saying in the past that he is "really, really, really good at sales." Those pursuits make more sense for the Adelsons, who have a long history in the entertainment, casino and real estate space, Cuban said in a pre-game interview on Dec. 27th. It's because of their real estate empires that they've built," Cuban said. It's been hard enough learning the pharmacy and basketball business, let alone trying to learn real estate as well."

Persons: Mark Cuban's, it's, Miriam Adelson, Cuban, Adelson, It's, Sheldon Adelson Organizations: Dallas Mavericks, NBA, Cuban, Twitter, ESPN, Las Vegas Sands, Forbes, Vegas Sands, Mavericks, CNBC Locations: Las Vegas, Texas, Cuban

In a Sunday letter to Fed Chair Powell, shared first with CNN, Warren expressed alarm at how “astronomical” mortgage rates have made a bad situation worse and urged Fed officials to start cutting borrowing costs. “We urge you to consider the effects of your interest rate decisions on the housing market and to reverse the troubling rate hikes that have put affordable housing out of reach for too many,” Warren and fellow Democratic Sens. John Hickenlooper, Jacky Rosen and Sheldon Whitehouse wrote. “Come on, Fed! Turn it around and drop those interest rates,” Warren told CNN’s Kate Bolduan on Monday.

Persons: Sen, Sherrod Brown, Powell, ” Brown, Brown, Elizabeth Warren, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, “, CNN’s Kate Bolduan, Read Organizations: Banking, Fed, CNN, Democratic

☆ Americans are getting closer to an interest rate cut — but it probably won't happen in the Fed's next big decision
▼ + stars: | 2024-01-30 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewThe nation's central bank is gearing up to make its first big decision of 2024 — and while it likely won't be the interest rate cut many Americans are hoping for, it's set to bring them closer to that relief. The Fed hinted at how many interest rate cuts Americans can expect this year in its December Summary of Economic Projections. New labor market data out this Friday will show how employment looked at the start of 2024, and some labor market experts already think 2024 will see a cooler job market . That continuing strength in the labor market does represent a slowdown from the hot post-pandemic recovery in 2022. "The Fed has already signaled its willingness to cut rates, and the market has responded accordingly," the lawmakers wrote.

Persons: —, it's, Jerome Powell, Powell, Nick Bunker, would've, Greg McBride, David Kelly, Kelly, Elizabeth Warren, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse Organizations: Service, Business, Federal, Federal Reserve, Spelman College, Labor Statistics, Fed, North America, Morgan Asset Management, Democratic Locations: Sens

☆ Elizabeth Warren rips Fed for fueling affordability crisis in housing, calls for rate cuts
▼ + stars: | 2024-01-29 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —America has a housing affordability crisis and Elizabeth Warren blames Jerome Powell and his colleagues at the Federal Reserve. To fight inflation, the Fed spiked interest rates at the fastest pace since the early 1980s. However, the Fed’s war on inflation set off shockwaves in the housing market. The one-two punch of elevated borrowing costs and record-high home prices has made the housing market historically unaffordable. “High interest rates have aggravated the country’s crisis of housing access and affordability,” the Senate Democrats wrote.

Persons: Elizabeth Warren, Jerome Powell, Powell, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Freddie Mac, “, Tom Barkin didn’t, ” Organizations: New, New York CNN, Federal Reserve, CNN, Democratic, Democrats, Fed, National Association of Home Builders, Mortgage Bankers Association, National Association of Realtors, Richmond Fed Locations: New York, America, White

☆ It's time for the Fed to cut interest rates and bring relief to Americans who 'cannot afford to pay rent,' Elizabeth Warren says
▼ + stars: | 2024-01-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Sen. Elizabeth Warren joined some of her colleagues in pushing for the Federal Reserve to cut interest rates. AdvertisementAs Americans grapple with high housing costs, a group of Democratic lawmakers is urging the Federal Reserve to implement relief as soon as possible. While rent costs have decreased slightly over the past few months, "high interest rates mean higher mortgage rates for landlords, who may pass off these costs in the form of rent hikes for their tenants," the Democrats wrote. Powell has previously acknowledged the impact of interest rate increases on housing costs. "The Fed has already signaled its willingness to cut rates, and the market has responded accordingly," the Democrats wrote.

Persons: Sen, Elizabeth Warren, —, — John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Jerome Powell, Powell, they'll Organizations: Federal Reserve, Service, Democratic, Harvard's, for Housing Studies Locations: York

☆ Netflix's competitors helped it land a blowout quarter by selling it some of their best stuff
▼ + stars: | 2024-01-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Netflix had a blowout quarter — much better than Wall Street expected. That's partly because competitors like Disney are selling their content to Netflix — a big strategy reversal. That's much better than Netflix or Wall Street had expected. But that was when Wall Street didn't care much about streaming profit. Now it does, so Netflix's competitors have to live with the fact that they're arming their biggest rival.

Persons: —, It's, Mario, Young Sheldon, they'd, you've Organizations: Netflix, Wall, Disney, Service, AMC, Comcast, Nintendo, Warner Bros, HBO, Brothers, Paramount

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