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☆ Mexico replaced China as America's top trade buddy — and it shows how the global economy is rapidly transforming
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Trade between the US and Mexico reached $263 billion during the first four months of this year. That pushed Mexico past China and Canada as the top trade partner since the start of the pandemic. China was the top partner for much of the 2010s and again at the start of the pandemic. Trade with Mexico accounted for 15.4% of all the goods exported and imported by the US, just ahead of America's trade totals with Canada (15.2%) and China (12.0%). Trucks carrying shipping containers line up as they are flagged for a secondary inspections at the Port of Manzanillo, Mexico.

Persons: Luis Torres, Donald Trump's, Torres, Nearshoring, Peter S, Goodman, Michael Burns, Salwan Georges, Shannon O'Neil's, Greg Rosalsky, O'Neil, Joe Biden, Antony Blinken, Xi Jinping, Janet Yellen, Xi, Yellen Organizations: Service, Federal Reserve Bank of, Canada, Dallas Fed, New York Times, Walmart, Murray Hill Group, Trucks, Washington, Getty, NPR Locations: Mexico, China, Canada, Wall, Silicon, Federal Reserve Bank of Dallas, Pacific, Port, Manzanillo, USA, United States

☆ The economy feels worse than it actually is because people were spoiled by the snap-back recovery after the pandemic crash
▼ + stars: | 2023-07-11 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Americans feel bad about the economy, even though data shows a booming labor market. The recovery from the pandemic recession reset everyone's expectations about what a good economy looks like. Americans are feeling bad about the economy, and some of that is likely due to inflation eating at their budgets. Consumer confidence is still low, and, as JPMorgan Asset Management chief global strategist David Kelly writes, Americans feel an "unreasonable level of gloom." In short, the things that used to make Americans feel good or bad about the economy aren't as consequential anymore.

Persons: Aaron Terrazas, Labor Julie Su, that's, David Kelly, Kelly, Terrazas, —, would've Organizations: Service, Bureau of Labor Statistics, Labor, Pew Research Center, JPMorgan Asset Management, Fed Locations: Wall, Silicon, America

☆ Time off and a healthy lifestyle are driving some young Americans to Europe: 'You are a person first and a worker 2nd'
▼ + stars: | 2023-07-07 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

In the five years she's lived overseas, Donahue, 27, became one of numerous young Americans more interested in a life of balance in Europe than the corporate grind in America. "In Europe, you are a person first and a worker second," Donahue told Insider. Europeans are unapologetic about taking time away from work, Ramkissoon said: "They're going, 'This is my time. "Work-life balance in the US is just nonexistent to me after experiencing work-life balance in Europe," she said. And high-quality meats, fish, fruits, and vegetables were much more accessible and affordable in Europe, Donahue said, adding that they're more common than the junk food she saw so widely available in the US.

Persons: —, Kayleigh Donahue, she's, Donahue, Davina Ramkissoon, Ramkissoon, Expedia, Donahue Donahue, Torres, Kennedy, Sofi Torres, that's, There's, it's Organizations: Service, Forbes, European Union, Governments Locations: Europe, America, Ireland, North America, Dublin, Spain, Portugal, Greece, Bordeaux, France

The official said Yellen and her Chinese interlocutors had a "substantive conversation," without giving any further details. "We will take action to protect our national security when needed, and this trip presents an opportunity to communicate and avoid miscommunication or misunderstanding," Yellen wrote. U.S. firms in China hope Yellen's visit will ensure trade and commercial lanes between the two economies remain open, regardless of the temperature of geo-political tensions. "I think if there was another year of no visits by top U.S. government leaders, the market would get colder," he added. Reporting by Joe Cash, Ellen Zhang and Ryan Woo; Editing by Himani Sarkar and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yi Gang, Liu, Yellen, interlocutors, Xi Jinping, Yellen's, Michael Hart, Joe Cash, Ellen Zhang, Ryan Woo, Himani Sarkar, Kim Coghill Organizations: . Treasury, Treasury, Twitter, American Chamber of Commerce, U.S, Thomson Locations: BEIJING, U.S, Beijing, Zurich, China

American workers are still quitting their jobs, per Bureau of Labor Statistics data. The Bureau of Labor Statistics' newly released monthly Job Openings and Labor Turnover Survey shows that job openings are still high, even though they dropped slightly from April. Plus, the number of workers quitting their jobs actually grew in May, all while layoffs stayed near historic lows. It signals a labor market where workers — especially blue-collar workers — still feel comfortable leaving their jobs, with plenty of opportunities awaiting them, including remote and hybrid options. The sector — which houses, in part, tech workers — was one industry among a handful that saw a dip in its quit rate.

Persons: —, Nick Bunker, it's, Bunker, Joanne Hsu, Hsu, There's Organizations: Labor Statistics, Service, Privacy, Labor, Survey, Bureau of Labor Statistics, University of Michigan, Consumers

☆ Opinion: Lab-grown meat is an expensive distraction from reality
▼ + stars: | 2023-07-05 | by ( Alice Driver | ) edition.cnn.com time to read: +6 min

Lab-grown meat, also known as cultured or cultivated meat, costs about $17 a pound, making it unaffordable for most consumers. Lab-grown meat has more in common with meat produced at a slaughterhouse than you might think. Some critics of the meatpacking industry have gotten excited about the idea of lab-grown meat as an alternative to Big Chicken. Tyson Foods, the largest meatpacking company in the US, was an early investor in the plant-based meat company Beyond Meat and has put money in Upside Foods. Before celebrating cultured meat as a victory for anyone, surely more studies are needed to explore this point further.

Persons: Alice Driver, James Beard, Alice Driver Alice Driver, restauranteur, ” Andrés, Dominique Crenn, Andres ’, Cargill, Tyson, “ We’ve, David Humbird, Humbird, Davis Organizations: American Worker, CNN, CNN —, Tyson Foods, Foods, JBS, McKinsey & Company, Twitter, University of California, Biotechnology, Food Institute, Big Tech Locations: Little Rock , Arkansas, United States, China, Washington ,, San Francisco, Berkeley

New York CNN —A marathon negotiating session between UPS and the Teamsters union ended early Wednesday morning with both sides accusing the other of walking away from the table. The current contract expires July 31, which means 340,000 UPS workers could go on strike August 1. Many in the shipping community had been looking for a deal between UPS and the teamsters by the end of the July 4 holiday weekend, he said. Amazon also has its own delivery service now. Neither side has publicly detailed the economic offer that UPS made or what the Teamsters are demanding.

Persons: Satish Jindel, ”, ” Jindel, —, Sean O’Brien, “, ” What’s Organizations: New, New York CNN, UPS, Teamsters, US Postal Service, nonunion FedEx, teamsters, FedEx, Postal Service Locations: New York, ”

☆ Americans living in Europe on how easy it is to take PTO: 'I am still getting used to 30 days of vacation'
▼ + stars: | 2023-07-03 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +1 min

It's the only advanced economy in the world that doesn't have federal laws requiring paid leave for vacations or sick time, and as a result, many rely on policies that vary by employer. When left up to businesses, the average American worker gets just 11 days of paid vacation in their first year at a company, according to the Bureau of Labor Statistics. In a culture that prizes productivity, even workers who do get vacation days often leave them on the table. Krys Elexandra, 26, lived in Arizona and moved to Germany 18 months ago to explore Europe and because of her strong interest in German culture. Elexandra is entitled to 30 paid days off in Germany and was surprised to find it's "extremely easy" to request time off.

Persons: Krys Elexandra, Elexandra Organizations: Bureau of Labor Statistics, CNBC Locations: Europe, Arizona, Germany, South Korea

☆ The Fed is secretly stress testing the US economy against nightmare scenarios
▼ + stars: | 2023-06-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

When asked how the Fed plans for the worst case scenarios on the geopolitical front, he first responded in Fedspeak. At every Fed policy meeting, he said, “our staff works up six or seven or eight alternative simulations,” he said. The market impact: The policy scenarios considered by the Fed are quite sensitive. That’s likely why when Powell was asked about the scenarios the Fed had most recently considered, he stayed mum. They’re posting elaborate TikToks where they pretend that the McDonald’s Grimace shake has killed them, of course.

Persons: Jerome Powell, Powell didn’t, ”, they’re, Joe Brusuelas, Stacey Tevlin, Ben Bernanke, Philippa Dunne, “, Danielle DiMartino Booth, That’s, Powell, “ I’m, Joe Biden, Biden, “ Bidenomics, Elisabeth Buchwald, Bryan Mena, Read, McDonald’s, Scottie Andrew, Grimace’s, Ronald McDonald, Andrews, it’s, Matthew Prince, “ It’s Organizations: New, New York CNN — Federal, European Central Bank, Federal, RSM, “, Fed, Bloomberg, TLR, QI Research, Federal Reserve, Chapman University, CNN Locations: New York, Portugal, Fedspeak, China, Chicago, America, California, ”

☆ With month before strike deadline, Teamsters walk away from talks with UPS
▼ + stars: | 2023-06-28 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The Teamsters union says it has walked away from negotiations with United Parcel Service with just over a month to go before its contract expires. In fact, most union labor negotiations include a strike authorization vote by rank and file, and most negotiations conclude with an agreement rather than a strike. Even if they vote no, it does not mean a strike is inevitable, especially this far from a strike deadline. UPS CEO Carol Tome has insisted there can be a deal reached that is a win for the union members, the company and its customers. Teamsters point to record UPS profitsThe Teamsters haven’t publicly disclosed the wage increase union negotiators are seeking.

Persons: Sean O’Brien, “, ”, Carol Tome, Teamsters haven’t, O’Brien Organizations: New, New York CNN, Teamsters, United Parcel Service, UPS, ” Unions, Disney, FedEx, US Postal Service Locations: New York

And while Biden’s growing list of Republican challengers differ on many issues, when it comes to the economy, they’re in agreement that Biden failed. In addition, a tight labor market has left many small businesses with ongoing hiring difficulties. Here’s what Biden can take credit for – and what he can’t. In other aspects, the labor market certainly had a boost from Biden’s fiscal policies. Since then, the American workforce has consistently outpaced the pre-pandemic workforce.

Persons: Joe Biden, “, ” Biden, Biden, Jerome Powell, ”, Ben Bernanke, Olivier Blanchard, It’s, it’s, let’s, That’s Organizations: DC CNN, Wednesday, Federal Reserve, –, Congress, American, Manufacturers, Treasury Department, P Global, Institute for Supply Management, Bureau of Labor Statistics, Republicans, Fed, International Monetary Fund, Brookings Institution, Biden, European Central Bank, Federal Reserve Bank of New Locations: Washington, Chicago, American, United States, Ukraine, Federal Reserve Bank of New York

☆ 44% of people with a side hustle think they'll always need it — and more are picking one up
▼ + stars: | 2023-06-26 | by ( Gili Malinsky | ) www.cnbc.com time to read: +2 min

And when it comes to the future, 44% of side hustlers also believe they'll always need one. 'A lot of workers are underpaid'In part, many people who tack on a side hustle do so because their full-time job is not covering their expenses. The median hourly rate for a person working in the food industry is $12.49, according to the Bureau of Labor Statistics. Half of workers in North America believe they are underpaid for their job, according to a 2022 ADP survey of 3,850 North American workers. In May, inflation was up 4% year-over-year, according to the BLS.

Persons: Zers, Gen Xers, Ted Rossman, hustlers, they'll, Rossman Organizations: Bankrate, Service, Bureau of Labor Statistics, BLS Locations: North America

☆ 401(k) plans have never been hotter. That’s changing the stock market
▼ + stars: | 2023-06-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

The bill, signed into law late last year, requires employers to automatically enroll all eligible workers into their retirement plans at a savings rate of 3% of salary. Americans had pension plans, Social Security benefits, and their own savings through plans like the 401(k). Those funds tend to be controlled by large asset managers. But through a process called proxy voting, large asset managers are able to vote on shareholder resolutions on behalf of their clients. Asset managers have “significant influence over company practices,” wrote shareholder advocacy group ShareAction in a recent report.

Persons: New York CNN —, That’s, ”, Dave Stinnett, What’s, ShareAction, Tesla, Torsten Slok Organizations: CNN Business, Bell, New York CNN, BlackRock, Vanguard Group, Fidelity Investments, Street Global Advisors, Vanguard, Social Security, Social, Social Security Agency, Security, Lawmakers, Blackrock, Fidelity, Boston University School of Law, Harvard Law School, Vanda Research, EV, Apollo Global Management Locations: New York, United States

☆ The Places Most Affected by Remote Workers’ Moves Around the Country
▼ + stars: | 2023-06-17 | by ( ) www.nytimes.com time to read: +11 min

Source: American Community SurveyThis rising mobility was driven by remote workers who sought new housing in their same metro areas, but also by a wave of remote workers decamping to other parts of the country. The rise of remote work meant that many such workers moved into these places, too. But for New York, San Francisco, Washington and Los Angeles, significantly more remote workers left than arrived. New York Metro Area Net domestic migration of workers Prepandemic 2018-19 Pandemic 2020-21 In-person workers Remote The N.Y.C. The remote workers identified this way may range from hybrid workers who primarily work from home to permanent remote workers and self-employed people who have no nearby office to visit.

Persons: ”, Hans Johnson, Johnson, Nicholas Bloom, Mr, Bloom, Adam Ozimek, Ozimek, Eric Carlson, It’s, “ Organizations: San, Major Metros, metros, York, Angeles, Washington, Seattle, Raleigh, Diego, Dallas, Sacramento, Hartford, American, Survey, San Jose metros, New York Metro Area Net, Public, Institute of California, Remote Workers, American Community Survey, Stanford, Economic Locations: San Francisco, New York, San Francisco , Washington, Los Angeles, Austin, Denver, Dallas, Nashville, Jose, Calif, Austin , Texas, N.C, Portland, Ore, Va, Conn, California, Bay Area, Washington, Ocean City, N.J, Cape Cod, Salisbury, Md, Maryland, Delaware, Fla, Stroudsburg, Pa, S.C, Panama City, Duluth, Minn

☆ How will the Federal Reserve’s rate hike pause affect the dollar?
▼ + stars: | 2023-06-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

A strong dollar affects prices, tourism and tradeThe ripple effect of a robust dollar permeates various parts of the economic picture, from international trade to tourism. “One of the underappreciated dimensions of a strong dollar is that it weighs on inflation,” she said. While Americans may find trips abroad relatively cheaper during times of dollar strength, tourism to the United States may take a hit. Relative weakness in European and Asian economies has also added investors’ appetite for the dollar, according to Gagnon. “I don’t see anything on the horizon that would weaken the dollar,” Gagnon said.

Persons: … that’s, Lisa Shalett, Shalett, Joseph Gagnon, ”, That’s, Gagnon, ” Gagnon, Goldman Sachs, “ Organizations: CNN, Federal Reserve, Morgan Stanley Wealth Management, Products, Walmart, Peterson Institute for International Economics, Deutsche Bank, eventual Locations: United, United States

☆ Bad news for the Fed: American workers are becoming less productive
▼ + stars: | 2023-06-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But what does the Fed mean when it talks about labor markets and their impact on inflation? What’s happening: At its most basic level, labor productivity is a measure of the value of the goods and services produced by a company compared with the amount of labor used to produce that output. Labor productivity decreased 2.1% in the first quarter of 2023, the US Bureau of Labor Statistics reported earlier this month. The silver lining: The good news is technological innovations typically drive upturns in productivity and AI could be such an innovation. Absolutely not,” Yellen said, echoing the joint statement leaders from the Group of Seven made at last month’s summit in Japan.

Persons: Lisa Shalett, ”, Lisa Cook, Joseph Brusuelas, Sundar Pichai, aren’t, Jeffrey Sonnenfeld, Richard Blumenthal, “, Doug McMillon, Roger McNamee, Steven Spielberg, Vito Corleone, Janet Yellen, ” Yellen, Elisabeth Buchwald, Yellen, Biden Organizations: CNN Business, Bell, New York CNN — Federal Reserve, Morgan Stanley Wealth Management, Fed, Labor, US Bureau of Labor Statistics, BLS, McKinsey Global Institute, Federal, RSM US, of America, Google, Yale School, Management’s, Leadership Institute, Walmart, Technology, Financial, International Monetary Fund, Inter, American Development Bank group’s, African Development Fund, IMF Locations: New York, United States, Michigan, Connecticut, China, Japan

☆ Has America Ignored the Workplace for Too Long?
▼ + stars: | 2023-06-13 | by ( Robin Kaiser-Schatzlein | ) www.nytimes.com time to read: +3 min

In that context, watching Sheila’s meeting spiral out of control feels almost as subversive and revelatory as Terkel’s book. The problem arises when the show attempts to explain what, specifically, has gone wrong to make that eruption possible. The series wants to hang around working people, as Terkel did, to understand their hopes and dreams and contradictions. This issue goes unaddressed, but the series does touch on the idea that popular media has long neglected the workplace. Neither are developments like the erosion of job security, the rise of erratic scheduling, the invasive workplace surveillance — changes that marked Obama’s very own era in the White House.

Persons: Obama, Milton Friedman, Terkel, Norman Lear, ”, Reagan, “, Henry Mayhew, London “, Barbara Ehrenreich, Dwight Macdonald Organizations: Television, “, Morning Chronicle Locations: ‘, London

☆ Instead of dragging workers back to the office, CEOs can get more out of employees with innovations like AI and the 4-day workweek
▼ + stars: | 2023-06-12 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

More CEOs are stepping up their efforts to get workers back in the office, at least part time. CEOs might instead focus on AI and the four-day workweek to boost engagement. That's the thrust of why more CEOs are calling workers back to the office several days a week. So clocking badge swipes at the office seems likely to jeopardize the very thing that helped a record share of workers report being satisfied. Lyon said AI can help workers enjoy higher productivity and increased engagement, in part by weeding out some of the boring stuff.

Persons: —, It's, apoplectic —, Felicia Lyon, they'd, Lyon Organizations: Workers, Service, Amazon, Farmers Group, KPMG, Conference Board

☆ Joe Biden: Never Bet Against the American Economy
▼ + stars: | 2023-06-09 | by ( Joe Biden | ) www.wsj.com time to read: 1 min

Wonder Land: Republican presidential hopefuls Ron DeSantis, Mike Pence, Nikki Haley, Tim Scott, Chris Christie, Vivek Ramaswamy and maybe even Donald Trump are united on spending. All offer a much safer future than the alternative. Images: Reuters/Zuma Press Composite: Mark KellyI wrote in these pages a year ago that with the right policies, the U.S. could make a transition from rapid recovery to stable, steady growth with lower inflation, sustaining the historic economic gains that American workers had achieved. I also expressed my confidence in our ability to rebuild the economy from the middle out and the bottom up and move beyond the failed trickle-down economic policies of the past so that the economy works for working families.

Persons: Ron DeSantis, Mike Pence, Nikki Haley, Tim Scott, Chris Christie, Vivek Ramaswamy, Donald Trump, Mark Kelly I Organizations: Republican, Zuma Locations: U.S

☆ Energy Tax Credits, Meant to Help U.S. Suppliers, May Be Hard to Get
▼ + stars: | 2023-06-09 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

The law offers tax credits that could cover up to 70 percent of a renewable energy project’s cost if it checks several boxes meant to support American workers and communities. The resulting frustration is emblematic of the current stage of climate action: an eye-straining haze of technical rule-making that reflects a tension between urgency and ensuring that the benefits of the energy transition are widely shared. Wally Adeyemo, the deputy secretary of the Treasury, expressed confidence that in combination, the rules would strike that balance. “It isn’t about any one rule, it’s about an ecosystem of rules that have been created under the I.R.A. that put us in a position to go from a country that had underinvested in the clean energy transition to being at the head of the pack.”

Persons: Biden, —, Wally Adeyemo, Mr, Adeyemo Organizations: Treasury Locations: United States

☆ Supreme Court ruling could chill labor strikes
▼ + stars: | 2023-06-02 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

Angela Cornell, a Cornell Law School labor law professor, called it "another decision that undermines the capacity of unions to function." MORE STRIKESThe ruling comes at a time of increasing strikes called by U.S. labor unions. Some experts pointed out that the ruling largely preserved the existing legal scaffolding for deciding labor law preemption cases of this kind. The Supreme Court, with its 6-3 conservative majority, has dealt setbacks to organized labor in key cases in recent years. Brudney said Thursday's ruling "was not comparable to that broader trendline" of decisions weakening labor unions.

Persons: Amy Coney Barrett, Angela Cornell, Cornell, Kenneth Dau, Schmidt, Benjamin Sachs, Sachs, Dan Altchek, Saul Ewing, Altchek, James Brudney, Brudney, Anne Marie Lofaso, Lofaso, John Kruzel, Will Dunham Organizations: U.S, Supreme, Taiheiyo Cement Corp, Cornell Law School, Indiana University Maurer School of Law, Harvard Law, Glacier, Inc, International Brotherhood of Teamsters, National Labor Relations, U.S . Bureau of Labor Statistics, Fordham University Law, West Virginia University College of Law, Thomson Locations: Japan, Washington, Philadelphia, California

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ The job market held up in May. But the Fed may have already decided to pause
▼ + stars: | 2023-06-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The US labor market picked up momentum in May, once again defying expectations of a slowdown. Many economists, including those at the Fed, still expect a recession later in the year. The labor market and signs of future disinflationThe May jobs report mostly showed that the labor market held up. Some top economists have argued that the strong labor market has had a minor, albeit growing, impact on inflation. Hawkish Fed officials still think the Fed’s job isn’t done.

Persons: That’s, Joe Biden’s, ”, Philip Jefferson, Patrick Harker, “, ” Harker, It’s, ” Julia Pollak, ZipRecruiter’s, you’ve, you’d, Dave Gilbertson, hasn’t, Ben Bernanke, ” Jack Macdowell, Louis President James Bullard, Bullard, Louis Fed’s, Louis, Jerome Powell, there’s, Ian Shepherdson, Eugenio Alemán, Raymond James Organizations: DC CNN, Federal, Fed, Federal Reserve Bank of Philadelphia, National Association for Business Economics, CNN, Employers, of Labor Statistics, BLS, UKG, The Palisades Group, Hawkish Fed, Federal Reserve Bank of St, Louis Fed, Pantheon Locations: Washington, Washington ,

☆ How the student loan payment pause has made it easier for public servants to get forgiveness
▼ + stars: | 2023-05-26 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Skynesher | E+ | Getty ImagesThe pandemic-era policy suspending federal student loan payments has been an especially big win for public servants. Most borrowers have benefited from the payment pause, which has lasted more than three years and spanned two presidencies. Here's what the payment pause has meant for those who are pursuing the relief. Advocates say that public servants deserved such a benefit after the problems that have plagued the loan forgiveness program. When the payment pause on federal student loans ends, likely in September, borrowers will have to resume payments to get credit for PSLF.

☆ Here's why Jim Cramer is sticking with Foot Locker despite terrible quarter and big stock drop
▼ + stars: | 2023-05-19 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Club holding Foot Locker (FL) reported disappointing fiscal 2023 first-quarter results and guidance before the opening bell Friday. Foot Locker, which announced the Eastbay closure in December, will concentrate on its namesake and Champs stores. Unfortunately, the rebound from these headwinds has also proven weaker than management previously expected. When starting a position in Foot Locker in March, we knew the company would not be fixed quickly. Shoppers and pedestrians pass in front of a Foot Locker store on the Third Street Promenade in Santa Monica, California.

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