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☆ Caught cold by UniCredit’s swoop on Commerzbank, Germany will want to avoid a national embarrassment
▼ + stars: | 2024-09-25 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

A protestor holds a placard with a slogan reading "Stop Merger Horror" during a union demonstration outside the Commerzbank AG headquarters in Frankfurt, Germany, on Tuesday, Sept. 24, 2024. It follows UniCredit's move to take a 9% stake in Commerzbank earlier this month. watch nowScholz on Monday criticized UniCredit's decision to up the ante on Commerzbank, describing the move as an "unfriendly" and "hostile" attack, Reuters reported. Commerzbank's Deputy Chair Uwe Tschaege, meanwhile, reportedly voiced opposition to a potential takeover by UniCredit on Tuesday. The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.

Persons: it's, UniCredit, Octavio Marenzi, Opimas, CNBC's, Olaf Scholz, He's, Marenzi, Scholz, UniCredit's, Uwe Tschaege, Tschaege, Andrea Orcel, Stefan Wittman, Germany's Scholz, Craig Coben, Coben, Emanuele Cremaschi Organizations: Commerzbank, Bloomberg, Getty, CNBC, Reuters, UniCredit, BBVA, Banco Sabadell, Bank of America, AG Locations: Frankfurt, Germany, Berlin, Milan, Commerzbank, Spanish

☆ Red Lobster cleared to exit Chapter 11 bankruptcy protection
▼ + stars: | 2024-09-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

The exterior of a Red Lobster restaurant in Austin, Texas, on May 20, 2024. A bankruptcy court approved Red Lobster's plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy. Red Lobster had struggled with increased competition, expensive leases, last year's disastrous shrimp promotion and a broader pullback in consumer spending. Current CEO Jonathan Tibus, who led the company through bankruptcy, will leave Red Lobster. "This is a great day for Red Lobster," Adamolekun said in a statement.

Persons: Damola Adamolekun, Jonathan Tibus, Adamolekun Organizations: Investor Holdings, Holdings, TCW, Fortress Investment Group Locations: Austin , Texas, Canada

☆ A food policy expert is trying a different diet every month this year. Here's why the vegan and Mediterranean diets are his favorites so far.
▼ + stars: | 2024-07-24 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +5 min

Read previewA food policy expert who is trying a different diet each month in 2024 told Business Insider that the vegan and Mediterranean diets are his favorite so far. So far this year, Wren has tried veganism, UK-based weight loss company Slimming World, only eating Huel products, intermittent fasting, paleo, and the Mediterranean diet. The Mediterranean diet has been voted the healthiest diet for seven years in a row by the US World News & Report. AdvertisementThe Mediterranean diet also appeared to be best for his mental health, he said in a TikTok video. Importantly, though, Wren was on holiday in Italy in June when he followed the Mediterranean diet.

Persons: —, Gavin Wren, Wren, you've, dietitians, Elena Paravantes, it's, Italy Wren Organizations: Service, Business, US Locations: Italy

But the court’s opinion also makes clear that this ruling is not a death knell for Smith’s case. Smith charged Trump with engaging in a “criminal scheme” to subvert the 2020 election; Trump has pleaded not guilty to four counts. In Nixon v. Fitzgerald, the Supreme Court held that a president enjoyed civil immunity for all “official acts.” Now, in Trump v. United States, the court grappled with which “official” acts should also receive criminal immunity. In order to settle the extent of Trump’s immunity, Chutkan should expeditiously schedule the mini-trial to hear witness testimony and receive other relevant evidence from both parties. In response to Trump’s assertion of civil immunity there, the DC Circuit put in place a lengthy discovery schedule for the lower court to determine the extent of Trump’s civil immunity.

Persons: Norman Eisen, “, Donald Trump, Danya Perry, Joshua Kolb, Neil Gorsuch, Jack Smith’s, Donald Trump’s, Norm Eisen, Tanya Chutkan, Smith, Trump, Nixon, Fitzgerald, —, Joshua Kolb CJ, John Roberts, Justice Department —, Mike Pence, Mark Meadows, Jeffrey Clark —, Clark, Steve Jones, Meadows, Brad Raffensperger, Jones, Meadows’s, Sotomayor, Chutkan, Pence, Bill Barr —, Trump’s, slimming, ”, Justice Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson Organizations: CNN, Perry Law, Division, Southern, of, State, Moreland Commission, Nixon, Trump v ., Justice Department, Trump, White, Trump administration, Georgia, Meadows, Circuit, Congress, Capitol Police, Capitol, DC Circuit, Twitter Locations: of New York, New York, Moreland, Trump v, Trump v . United States, Georgia, Fulton, Meadows

☆ Nestlé is releasing a lineup of frozen food for people on Ozempic and other GLP-1 drugs
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss. However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss. An example of Vital Pursuit food. It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate. Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks.

Persons: New York CNN — Nestlé, It’s, Morgan, Steve Presley, Neil Saunders, Nestlé, it’s “, Saunders, ”, “ Nestlé, Sesame, WeightWatchers, ” Saunders, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, North, GlobalData, Lean, CNN, Companies, Costco, Equinox Locations: New York

☆ Apple could release a major redesign of the iPhone next year that's super-slim, report says
▼ + stars: | 2024-05-17 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Reports of a slim iPhone arriving in late 2025 are emerging. An analyst's note and a report from The Information suggest an "iPhone 17 Slim" is in the works. Apple launched its thinnest iPad last week, while the iPhone 16 is expected to launch in September. The Information reported Friday that five people knowledgeable about the project said a thinner iPhone could debut alongside the iPhone 17 in September 2025. The project, internally called D23, is said to be a "major redesign" that will cost more than the iPhone Pro Max, which is priced at $1,200, The Information reported.

Persons: — Organizations: Apple, Service, Business

☆ Step aside, Ozempic — Zyn is the new (delusional) weight-loss quick fix
▼ + stars: | 2024-05-17 | by ( Mia De Graaf | Hilary Brueck | ) www.businessinsider.com time to read: +8 min

Now, Zyn users are buzzing about another purported side effect: Some claim that their habit has triggered weight loss. Andrea Hernández, author of consumer trend newsletter Snaxshot, pointed out this craze this week, sharing a collection of social media posts about Zyn and weight loss. "I've used Zyn nicotine pouches occasionally over the past few years but have started to use them regularly because they help me focus and curb my hunger," a Reddit user wrote in r/intermittentfasting. While nicotine pouches circumvent the health effects of cigarettes that are caused by tobacco, they still do a number on your body. She worries that "we don't fully understand how nicotine works to regulate appetite in people, specifically with obesity."

Persons: —, Tucker Carlson, Carlson, Andrea Hernández, I've, Carolyn Bramante, Bramante, vapes, Slim, Apple AirPods, Philip Morris, Forget, I'm, Elon Musk, Charles Barkley, Hernández, Michael M, Beverly Tchang, Tchang, Iuliia Burmistrova Organizations: Service, Business, University of Minnesota, FDA, Lucky, Samsung, Getty, Weill, Philip Morris International, Swedish Locations: New York

☆ My baby boomer mom was always dieting. I started doing it too, and finally broke the cycle when I became a mother.
▼ + stars: | 2024-04-03 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

AdvertisementMy baby boomer mom raised me to dread getting on the scale, to fear every pound I gained. "I've gained weight," she'd say. "I can't wear that until I've lost a few pounds," she'd say. Instead, I'll say, "I am not feeling as strong today." We discuss the concepts of power and strength, like when we weighed Sofia for her new car seat.

Persons: —, Nicole Chapman, Sofia, I'd, I'm, She'd, I've, she'd, Chapman, Twiggy Organizations: Service, Business Locations: Sofia

☆ The allure of fasting diets for successful people — and where it falls short
▼ + stars: | 2024-04-03 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +16 min

Intermittent fasting diet plans, meal kits, fitness trackers, and biological age tests can all offer something to busy people who want to feel in control. More than one in 10 Americans (12%) tried intermittent fasting in 2023, according to one food and beverage industry-backed survey. The business of intermittent fasting phone apps is blossoming and is on track for more growth in the next five to 10 years. There are many ways to do intermittent fasting — from skipping breakfast to whole days without foodPeople have been fasting for as long as people have been people. AdvertisementThe case against fasting to lose weight and live longerFirefighters in San Diego tried intermittent fasting out during the pandemic, with good results.

Persons: —, Chris Hemsworth, Podcaster Andrew Huberman, Hugh Jackman, Dwayne, Johnson, Terry Crews, It's, Sam Altman, biohacking, Dave Asprey, Gary Vaynerchuk, Bryan Johnson, Jack Dorsey, it's, Hippocrates, Daniel Belsky, There's, Satchidananda Panda, I've, Krista Varady, Dr, Peter Attia, you've, Satchidananda, He's, Randy Shropshire, nix, Valter Longo, Longo, Belsky, Stephen Kritchevsky, Mark Cucuzzella, Nir Barzilai, Nir Barzilai Nir Barzilai, Barzilai, Panda, That's, Cucuzzella Organizations: Service, Business, Columbia University, 16ers, Salk Institute for Biological Studies, University of Illinois, Getty, Cancer, gerontology, USC, Firefighters, Wake Forest University, West Virginia University School of Medicine, Institute for Aging Research, Albert Einstein College of Medicine Locations: Greece, Chicago, San Diego, New York

☆ Pharmaceutical companies behind weight-loss drugs are slimming down a new target: The Magnificent 7
▼ + stars: | 2024-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at pharma companies' surging stocks and threatening tech darlings thanks to their weight-loss drugs. And it comes despite only 1% of US adults taking weight-loss drugs, according to Bank of America , which predicts that number could rise to 15% by 2035. Weight-loss drugs are also cutting more than just fat. For Wall Street, meanwhile, the equation is much simpler: Getting more people on weight-loss drugs boosts the economy. The trend, which will be powered by cash-rich mega-cap tech companies, is thanks to strong earnings growth, the bank said.

Persons: —, Joe Biden, Donald Trump —, Trump, Zhan, Eli Lilly, Tesla, Hannah Latham, Octavio Jones, Christian Rodriguez, Laura MacPherson, Jenny Chang, Rodriguez, they're, Goldman Sachs, Biden, Barry Sternlicht, Fernando Gutierrez, It's, Elon Musk, TikTok, Pete Ryan, RJ Scaringe, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, pharma, Business, Tesla, Microsoft, JPMorgan, Pfizer, Novo Nordisk, Bank of America, Nvidia, Companies, Fed, Infrastructure Investment, Alpha, Commission, Elon, EV, Nike, Congress, White, Meta, SXSW Locations: China, US, New York, London

☆ It's not just you – stores are cutting back on product variety and how many choices you can make
▼ + stars: | 2024-03-03 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Stores are cutting back on how many varieties of products they opt to offer. Retailers are shifting to offering customers less variety on products with questionable success and doubling down on bestsellers, instead, Axios reported. Some chains like Macy's and Kohl's are slimming down their in-store product options and offering a wider variety of products online, Axios reported. Some retailers reported that customers didn't seem to mind that slashed products never returned to the shelves, The Wall Street Journal reported. Experts believe the slimmed-down choices could also help reduce stress for shoppers, Axios reported.

Persons: —, Axios, Coke, Cherry, Neil Saunders Organizations: Service, Daily, Business, Street Journal

☆ Block shares surge as much as 14% after company announces surprise profit
▼ + stars: | 2024-02-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Block stock rose as much as 14% in extended trading Thursday after the payments company reported fourth-quarter earnings that beat analyst estimates on gross profit and showed strong growth in its Square and Cash App revenue. Revenue: $5.77 billion vs. $5.70 billion expectedBlock posted $2.03 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. Its Cash App business reported $1.18 billion in gross profit, a 25% year-over-year rise. The company, which is run by Jack Dorsey, said its Cash App Card has 23 million monthly actives in December, up 20%.

Persons: Jack Dorsey, Dorsey Organizations: Twitter Inc, Inc, Cash Locations: Miami , Florida

☆ Terry Killens: 24 years ago, he played in a Super Bowl as a player. Now, he’s making history as an official
▼ + stars: | 2024-02-07 | by ( Ben Morse | ) edition.cnn.com time to read: +9 min

Killens’ first appearance in a Super Bowl had ended in unimaginable disappointment. The linebacker, who was in the league for seven seasons, never competed in another Super Bowl during his playing days. Killens is part of the crew officials ruling over the upcoming Super Bowl – which will be played in Las Vegas’ Allegiant Stadium on February 11 between the Kansas City Chiefs and the San Francisco 49ers – making him first person to both play in and referee a Super Bowl. Dyson is tackled by St. Louis linebacker Mike Jones just short of the goal line on the last play of Super Bowl XXXIV. When we wear the stripes, we are guardians of the game,” Killens explains.

Persons: Kevin Dyson’s, Terry Killens, Dyson, Killens, “ It’s, I’ve, it’s, “, Rhonda, Tennessee Titans –, Nate Singleton, Mitchell Layton, Frank Wycheck, Hall, Hall of Famers Kurt Warner, Marshall Faulk, Isaac Bruce, Orlando Pace, St, Louis, Mike Jones, Mike Zarrilli, ”, “ ‘, ’ ”, ‘, ” Killens, “ slimming, –, Michael Zagaris, “ I’ve, Shawn Hochuli’s, Bill Vinovich’s Organizations: CNN, Tennessee Titans, Louis Rams, Rams, NFL, Super, Kansas City Chiefs, San Francisco 49ers, National, Football, JV, Houston Oilers, Houston natives, Baltimore Ravens, Buffalo Bills, Titans, Hall of Famers, Killens, Sunday, Seattle Seahawks, Ohio High School Athletic Association, Chiefs, 49ers Locations: Las Vegas, Tennessee, Houston, Nashville, Atlanta

☆ Jack Dorsey's Block lays off 'large number' of staffers, adding to wave of tech industry cuts
▼ + stars: | 2024-01-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

While Dorsey did not specify the number of Block employees laid off on Tuesday, a person familiar with the company said the number was close to 1,000. Dorsey did say that the layoffs focused on Block workers at Cash App, Foundational, and Square. Staffers were told separately that Block would look to reduce head count by about 10%, as BI reported. Google and Amazon made significant cuts to head count, while Meta is slimming down more roundaboutly by eliminating certain job titles and telling affected workers they can reapply. You can read Dorsey's full note to Block staff below:Team,Today our Cash App, Foundational, and Square teams are parting ways with a large number of our teammates.

Persons: Jack Dorsey, Dorsey, Cash, Kali Hays Organizations: Business, Cash, BI, Google, Amazon, Meta, Marketing, Creative Locations: Commerce, khays@insider.com

☆ 'Botched' star Terry Dubrow calls Ozempic 'a miracle' but admits it takes 'all the joy of eating away'
▼ + stars: | 2024-01-22 | by ( Amanda Goh | ) www.businessinsider.com time to read: +2 min

"Botched" star and plastic surgeon Terry Dubrow told Page Six that he tried Ozempic. Dubrow called the weight-loss drug "a miracle" but admitted it took "all the joy of eating away." He said he wanted to see what it's like if you're not diabetic and "only have 10-15 pounds to lose." Advertisement"Botched" star Terry Dubrow says he tried Ozempic but gave it up because it took "all the joy of eating away." In a Page Six interview alongside costar Paul Nassif, the plastic surgeon admitted to giving the weight-loss drug a go because he was curious about its effects.

Persons: Terry Dubrow, Dubrow, —, Paul Nassif, Evan Real, Heather Dubrow — Organizations: Service, Page, Housewives, FDA Locations: Orange

☆ Goodyear tune-up may go beyond rotating the tires
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Aug 20, 2023; Watkins Glen, New York, USA; A detailed view of Goodyear Eagle racing tires prior to the Go Bowling at The Glen at Watkins Glen International. Mandatory Credit: Matthew O'Haren-USA TODAY Sports Acquire Licensing RightsNEW YORK, Nov 15 (Reuters Breakingviews) - A century is a long time to accumulate bad habits. Goodyear Tire & Rubber (GT.O) on Wednesday said it would try to shed some, by selling $2 billion of assets, streamlining its business and paying down debt. As the $4 billion company tidies itself, it could turn out to be worth more in pieces. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Watkins, Matthew O'Haren, Richard Kramer, Elliott, Goodyear, Jonathan Guilford, taints, Jeffrey Goldfarb, Aditya Sriwatsav, Sharon Lam Organizations: Goodyear Eagle, Watkins Glen International, Reuters, Goodyear Tire &, Elliott Investment Management, Electric, United States Steel, Goodyear, X, Alstom, Thomson Locations: , New York, USA

NEW YORK (AP) — Hollywood’s months of labor unrest are coming to an end, but the post-strike landscape that awaits actors and writers may be far from happy-ever-after. That helter-skelter transition threw much of the economics of entertainment out of whack. “Going through that with a streaming service that’s losing billions of dollars is really, really difficult to go on offense.”Cancellations have grown more commonplace as streamers get more selective. Due in part to the strikes, series production will dip for the first time in years in 2023 after reaching an all-time high last year, when 599 original series were made. “And so I think really we will see over the coming days, weeks and months what the industry’s real intentions are.

Persons: —, HBO Max, Max ”, ”, Jonathan Taplin, Crypto, Taplin, Puck’s Matt Belloni, Walt, Bob Iger, ” Iger, I’ve, it’s, Peacock, David Zaslav, Max, ” Zaslav, “, Martin Scorsese’s, Ridley Scott’s “ Napoleon, ” Duncan Crabtree, Krysta Fauria Organizations: Hollywood, SAG, HBO, Netflix, USC, Innovation Lab, International Alliance, Walt Disney Co, Disney, Comcast, Warner Bros . Discovery, Apple Studios, Associated Press Locations: Hollywood, Los Angeles

Both changes to the process for designating a non-bank as a "systemically important financial institution," or SIFI, were proposed in April. Friday's vote reversed a Trump administration policy that regulators should police risky activities rather than single out individual firms. Under the revamped process, FSOC will identify potential SIFIs based on existing information and give the company a chance to respond. Similarly, the Managed Funds Association, which represents hedge funds, said non-banks do not pose the same risks as banks. "The guidance imposes a black box designation process that introduces uncertainty for market participants," said MFA President and CEO Bryan Corbett.

Persons: Brendan McDermid, Donald Trump, FSOC, Trump, Janet Yellen, Eric Pan, Bryan Corbett, Barack Obama, Ian Katz, Pete Schroeder, Chris Reese, Michelle Price, Richard Chang Organizations: Wall, REUTERS, WASHINGTON, Treasury Department, U.S . Federal, BlackRock, Bridgewater, Investment Company Institute, Association, MetLife, Inc, General Electric Capital Corporation, American International Group, Prudential Financial, Capital Alpha Partners, Carolina, Thomson Locations: New York, U.S, BlackRock, Bridgewater

☆ Microsoft-owned LinkedIn lays off nearly 700 employees — read the memo here
▼ + stars: | 2023-10-16 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Microsoft -owned LinkedIn announced Monday that it cut almost 700 employees, with most coming from the engineering organization, according to a memo viewed by CNBC. The reductions come as the business-oriented social network has seen year-over-year revenue growth slow for eight consecutive quarters. The slimming down comes as Microsoft's overall revenue growth has slipped, pushing CEO Satya Nadella to lower costs across the company. LinkedIn is now ramping up hiring in India, according to the person familiar with the matter. Broken down there are 137 Engineering management roles and 38 Product roles being reduced.

Persons: we've, Mohak Shroff, Tomer Cohen, Satya Nadella, LinkedIn's Karin Kimbrough Organizations: Microsoft, CNBC, LinkedIn, Reuters, Engineering Locations: India

☆ Pepsi has long way to go to win Ozempic challenge
▼ + stars: | 2023-10-10 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

The purveyor of Gatorade and Cheetos boosted operating profit 14%, to about $4 billion, after hiking prices by at least 10% for the seventh consecutive quarter. The quantity of drinks and snacks sold is slumping, however, and anti-obesity drugs are just starting to make their mark. Pepsi’s shares have tumbled 14% since May, lagging the 5% gain in the S&P 500 Index (.SPX) over the same period. The head of Walmart’s (WMT.N) U.S. drugstores told Bloomberg that customers taking Ozempic, Wegovy and others are pulling back on junk-food purchases. The latest results from Pepsi quelled fears of any immediate impact, but also raise questions about the future.

Persons: Brendan McDermid, Eli Lilly, drugstores, Morgan Stanley, Boss Ramon Laguarta, Laguarta, Lay, Hugh Johnston, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, PepsiCo, Gatorade, Novo Nordisk, Bloomberg, Pepsi, Frito, Thomson Locations: New York City, U.S, Wegovy

☆ 10 things I wish I knew before I moved from New York to London
▼ + stars: | 2023-09-29 | by ( Kim Davis | ) edition.cnn.com time to read: +13 min

CNN —It’s been nearly 20 years since I moved from New York to London. I don’t drink alcohol, so, when I first moved to the UK, I avoided the pubs for about a year. To my great surprise, I discovered that British pubs were nothing like I had imagined! “Yeah?” “Yeah!!!!! According to the UK Tea and Infusions Association, Brits drink over 100 million cups daily and 36 billion cups per year!

Persons: CNN — It’s, Leicester, Kim Davis, breathlessly, I’m, “, ”, I’ve, mickey ”, Sheldon Cooper, don’t, Hershey, et Walker, Eliza Doolittle, Little, it’s, Ariel, ” Don’t, There’s, Parinya, Abbott, Costello “ Who’s, Tummy, Mason, You’ll Organizations: CNN, Brit, British, Harrods, LIPTON Locations: New York, London, United States, United Kingdom, Yorkshire, Britain, Europe, “, America, York, Darjeeling, Assam, Ceylon

REUTERS/Raquel Cunha Acquire Licensing RightsMEXICO CITY, Sept 11 (Reuters) - The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. Lopez Obrador last week backed former Mexico City Mayor Claudia Sheinbaum as his party's candidate to succeed him. Historic data show the projected budget deficit for 2024 will be the highest since 1988 as a proportion of GDP. The government's higher spending plans should bolster Latin America's second-biggest economy, which has outpaced forecasts this year, brightening the outlook for 2024. He also noted that since Mexico's current account deficit is currently considerably lower than foreign direct investment, there was a pool of untapped demand in the economy that the government could temporarily offset via higher spending.

Persons: Mexico's Finance Ministry Rogelio Ramirez de la O, Marcela Guerra, Raquel Cunha, Andres Manuel Lopez Obrador, Lopez, Patricia Terrazas, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Gabriela Siller, Alberto Ramos, Goldman Sachs, Ramos, Raul Feliz, Feliz, Dave Graham, Diego Ore, Noe Torres, Jamie Freed Organizations: Mexico's Finance Ministry, Mexican, REUTERS, Lopez Obrador's, Action Party, PAN, Mexico City Mayor, Banco Base, Bank of, Thomson Locations: Mexico City, Mexico, MEXICO, Bank of Mexico

☆ Mexico's Election Year Deficit Plan Fuels Fear Over Finances
▼ + stars: | 2023-09-11 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

By Dave Graham and Diego OréMEXICO CITY (Reuters) - The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. Lopez Obrador last week backed former Mexico City Mayor Claudia Sheinbaum as his party's candidate to succeed him. Historic data show the projected budget deficit for 2024 will be the highest since 1988 as a proportion of GDP. The government's higher spending plans should bolster Latin America's second-biggest economy, which has outpaced forecasts this year, brightening the outlook for 2024. He also noted that since Mexico's current account deficit is currently considerably lower than foreign direct investment, there was a pool of untapped demand in the economy that the government could temporarily offset via higher spending.

Persons: Dave Graham, Diego, Andres Manuel Lopez Obrador, Lopez, Patricia Terrazas, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Gabriela Siller, Alberto Ramos, Goldman Sachs, Ramos, Raul Feliz, Feliz, Diego Ore, Noe Torres, Jamie Freed Organizations: MEXICO CITY, Lopez Obrador's, Action Party, PAN, Mexico City Mayor, Banco Base, Bank of Locations: MEXICO, Mexico, Bank of Mexico, Mexico City

At the Nairobi orphanage, program manager Paul Mulongo has a message for Washington. Without that, the virus could come back, ”and about 20 million lives might be lost in the coming years,” he said. But Reach Out helps anyone who walks in needing HIV drugs, Kaleebi said. “Sometimes it’s so crazy when you hear people saying that these HIV drugs should be bought by the local government,” he said. Some are among the 1.4 million children and adults living with HIV in Kenya, according to UNAIDS.

Persons: George W, Bush, Paul Mulongo, “, Mulongo, ”, Tom Hart, PEPFAR, Biden, Chris Smith, Smith, ” Smith, John Nkengasong, we’ve, Josephine Kaleebi, ” Kaleebi, Kaleebi, Mark Dybul, Bernard Mwololo, David Shitika, “ Nobody, ” Shitika, ” ___ Amiri, Knickmeyer, Rodney Muhumuza Organizations: Republican U.S, President’s, AIDS Relief, Republicans, Democrats, ONE, Heritage Foundation, State Department, ” Conservatives, PEPFAR, Republican, Foreign, Associated Press, AP, Health Initiative, Uganda’s Catholic, AIDS, UNAIDS Locations: NAIROBI, Kenya, United States, Africa, Ukraine, Brazil, Indonesia, Nairobi, Washington, ”, Uganda, Kampala, Russia, China

☆ Slimming inventories help retailers be agile when facing uneven demand, says TD Cowen's Oliver Chen
▼ + stars: | 2023-09-05 | 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 EmailSlimming inventories help retailers be agile when facing uneven demand, says TD Cowen's Oliver ChenOliver Chen, TD Cowen's head of retail and luxury, joins 'Squawk on the Street' to discuss normalizing levels of promotions across retail, headwinds to consumer spending due to student loan repayments, and consumers looking for value essentials over wants.

Persons: Cowen's Oliver Chen Oliver Chen, TD

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