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☆ Analyzing the market sell-off: Routine S&P 500 correction or something more serious?
▼ + stars: | 2023-10-28 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

.SPX YTD mountain S & P 500, YTD The S & P 500 is also down 10% over the past two years and at a level first reached 30 months ago, with U.S. GDP now 18% larger than it was then and annualized earnings 10% higher. This places the S & P 500 at around 17 times forward earnings, roughly the past decade's average. The equal-weight S & P is near a 14 multiple and the equal-weight consumer discretionary sector is under 13, near the 2022 low P/E. Bank of America equity and quantitative strategist Savita Subramanian points out that "Consensus long-term growth expectations for S & P 500 earnings have dropped to record lows, a rather powerful contrary indicator." Yes, market breadth is lousy, the equal-weight S & P 500 less than 5% above the October 2022 low, but this is also how markets look when they're getting "sold out."

Persons: it's, Goldman Sachs, It's, Savita Subramanian, Stocks Organizations: Federal Reserve, U.S, Bank of America Locations: Israel, Iraq

☆ Inflation to dog world economy next year, postponing rate cuts: Reuters poll
▼ + stars: | 2023-10-27 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Despite broad success in bringing inflation down from its highs - the easier bit - prices are still rising faster than most central banks would prefer and hitting their inflation targets is likely to be tough. The Reserve Bank of New Zealand, which often leads the interest rate cycle, was also forecast to wait until July-September 2024 before cutting. The majority backing no cuts until the second half of 2024 has also grown stronger for the Reserve Bank of Australia, Bank Indonesia and the Reserve Bank of India. Even the Bank of Japan, the outlier sticking to ultra-loose policy through this entire round of inflation, is now expected to abandon negative interest rates next year. Crucially, most economists agree the first easing steps will not be the beginning of a rapid series of cuts.

Persons: Sarah Silbiger, Christine Lagarde, Douglas Porter, it's, Nathan Sheets, Hari Kishan, Ross Finley, Tomasz Janowski Organizations: El Progreso Market, Washington , D.C, REUTERS, Reuters, U.S . Federal Reserve, European Central Bank, ECB, Fed, BMO, Reserve Bank of New, Reserve Bank of Australia, Bank, Reserve Bank of India, Bank of Japan, Citi, Thomson Locations: Mount Pleasant, Washington ,, BENGALURU, Reserve Bank of New Zealand, Bank Indonesia, Bengaluru, Buenos Aires, Cairo, Istanbul, Johannesburg, London, Shanghai, Tokyo

Last year's U.S. Supreme Court decision rescinding a five-decade-old right to abortion has reshaped American abortion policy, shifting power to states. Sales of abortion pills in 2022 were up 60%, according to Nikolay Bespalov, development director of the RNC Pharma analytical company. A recent Health Ministry decree restricted circulation of abortion pills, used to terminate pregnancies in the first trimester. Regional authorities have tried to get private clinics to stop offering abortions, with varying success. In Tatarstan, about a third of all private clinics no longer provide them, officials said.

Persons: heartened Dasha, Vladimir Putin, Yakovleva, ”, Michele Rivkin, rescinding, Putin, Mikhail Murashko, Nikolay Bespalov, Yekaterina Hivrich, Irina Fainman, Fainman, Pyotr Tolstoy, Irina Volynets, Lina Zharin, ” Natalya Moskvitina, Moskvitina, Olga Mindolina, Mindolina, Anastasia, “, Lyubov Organizations: Associated Press, Nationwide, Health Ministry, University of North, Supreme, Russian Orthodox Church, Health, AP, Authorities, Lahta Clinic, Conservative, Women Locations: TALLINN, Estonia, Kaliningrad, Russia, U.S, University of North Carolina, Last, Soviet Union, ” State, Ukraine, St . Petersburg, Karelia, Tatarstan, mulling, Chelyabinsk, Mordovia, Voronezh

There are a lot of misconceptions about living in Alaska, and Trevor Barrett has heard them all. One of the best things about living in Alaska is the quiet life, the privacy and the summers." "I was raised with hunting and fishing and hiking and camping and all the specific and unique Alaska things," he says. Trevor Barrett with a replication of Andúril from J.R.R. Trevor Barrett and his family live in Haines, Alaska.

Persons: Trevor Barrett, Trevor, Larissa, Trevor Barrett Trevor, Samuel, Nika, Haines, you've, Alex Stock, Barrett Knives, Barrett, he's Organizations: CNBC, Netflix, YouTube, YouTube Investments, Google, Barrett, Larissa Locations: Alaska, Haines, British Columbia, Anchorage, Connecticut, Alaska One, Kenai, U.S, Larissa, Juneau , Alaska, J.R.R, Haines , Alaska

☆ Why this US couple swapped California for Spain
▼ + stars: | 2023-10-26 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +13 min

CNN —After a number of failed IVF rounds, health issues and the death of their beloved dog, US couple Jason Luban and Selena Medlen were in need of a change of scenery. The couple, then based in Oakland, California, had penciled in a trip to Andalusia, Spain, months before, but were unsure whether to go ahead with it when the health of Luban, who has torsion dystonia, a rare movement disorder, began to deteriorate. Spanish adventureAn aerial view of Puente Nuevo in Ronda, the town that stole the hearts of US couple Jason Luban and Selena Medlen. Selena Medlen and Jason LubanWhile they adapted to the Spanish lifestyle quickly, there were some aspects that they found difficult to get used to. For weeks.”While they’d initially planned to stay in Spain for a year, Luban and Medlen chose to extend their stay beyond this.

Persons: Jason Luban, Selena Medlen, ” Medlen, Luban, “, Medlen, ”, Ronda, they've, Jason Luban “, “ Selena, we’re, ’ ”, they’d, Feria de Pedro Romero, “ It’s, expats, ” Luban, I’d, Selena, Donald Trump, ‘ Don’t, they’ve, he’s, you’re, Lola Supernova, they’re, “ There’s Organizations: CNN, CNN Travel, Granada, Feria de, “, ” Locations: Oakland , California, Andalusia, Spain, Puente Nuevo, Ronda, Spain’s Malaga, Madrid, Toledo, Cordoba, Seville, “, Oregon, Texas, California, Feria, America, United States

☆ Billionaire politicians have become 'shockingly common' around the world, new study finds
▼ + stars: | 2023-10-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

More than 11% of the world's more than 2,000 billionaires have run for election or become politicians, according to a study highlighting the growing power and influence of the super-wealthy. "Billionaire politicians are a shockingly common phenomenon," the study said. Outside the U.S., billionaire politicians are even more common. Terry Gou, the Taiwanese billionaire and founder of Foxconn, is running for president of Taiwan. Of course, billionaires wield even more political power through their (often secret) donations to support candidates, parties and super PACs.

Persons: Donald Trump, Terry Gou, Vivek Ramaswamy, Doug Burgum, Michael Bloomberg, Tom Steyer, Billionaire Rick Caruso, J.B, Pritzker, Andrej Babiš, Silvio Berlusconi, Bidzina Ivanishvili, Najib Mikati, Sebastián, Thaksin, Phil Ruffin, Larry Ellison, Nelson Peltz, Richard Uihlein, Jeffrey Yass, Stanley Druckenmiller, Cliff Asness, David Tepper, Bruce Kovner Organizations: Wisconsin Valley Science, Technology, Northwestern University, Democratic, Los Angeles, Tax Fairness, Billionaire Locations: Wisconsin, Mount Pleasant , Wisconsin, U.S, Illinois, Taiwan, Czech Republic, Italy, Georgia, Lebanon, Chile, Thailand

Blinken told the United Nations this week that he would work with Wang to prevent the conflict in the Middle East from spreading. “China and the United States need to have dialogue. But while the U.S. has publicly stood with Israel, China has called for a cease-fire between Israel and the Western-designated terrorist group Hamas stationed in Gaza. Gavin Newsom met with Xi – the first meeting between a U.S. governor and Xi in six years. While more routes of communication may be opening, China-U.S. relations shouldn’t be mistaken as entirely pleasant at the moment.

Persons: Wang Yi, Antony Blinken, Wang, Blinken, ” Wang, John Kirby, Kirby, ”, Joe Biden's, Jake Sullivan, Biden, Xi Jinping, Gavin Newsom, Xi –, Xi, Newsom, “ We’ve, We’ve, Wu Qian Organizations: Foreign, U.S, State Department, United, National Security, Economic Cooperation, California Gov, CNN, Pentagon Locations: Washington, China, Gaza, Ukraine, United Nations, United States, U.S, Israel, “, Tehran, Asia, San Francisco, California

☆ How much you should tip your Uber and Lyft driver, according to drivers and etiquette experts
▼ + stars: | 2023-10-25 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some Uber and Lyft drivers have complained about poor customer tipping recently. We asked drivers and etiquette experts how much Americans should be tipping for Uber and Lyft rides . AdvertisementAdvertisementRegardless of whether you're tired of tipping or trying to save money, four etiquette experts and drivers told Insider that it shouldn't stop you from tipping your Uber and Lyft driver. "As long as we're not guaranteed a living wage, I think the ethical thing is to tip drivers." AdvertisementAdvertisementJeff Hoenig, a 63-year-old part-time Uber driver in South Carolina, told Insider that roughly half of his customers left a tip last year.

Persons: Uber, —, it's, Lyft, Thomas Farley, Mister Manners, Gabe Ets, Jeff Hoenig Jeff Hoenig Nick Leighton, Farley, Jeff Hoenig, Hoenig Organizations: Service, Ets Locations: New York, Oakland , California, South Carolina

☆ My autoimmune disease made traveling a challenge, but accessible tech in the hospitality industry is making tourism more inclusive
▼ + stars: | 2023-10-25 | by ( Shayna Conde | ) www.businessinsider.com time to read: +10 min

Some hospitality businesses are becoming more inclusive with accessible tech for disabled travelers. Digital and physical tech has helped improve accessible travel experiences, but more can be done. Lawrence Sumulong/Lincoln CenterImproving accessible tech for the future of travelThe hospitality industry has a long way to go when it comes to accessibility. Two of the biggest issues with increasing accessible tech in this field are documentation of its benefits and the price of acquiring and integrating the tech. Many hotels and destinations either have trouble notating, or simply do not document, how much revenue they've made because of the accessible tech and services they provide.

Persons: —, neuromyelitis optica, Conde, Terrell Lopez, that's, Isabelle Ducharme, Ducharme, Rod Stewart, Kéroul, it's, Simon Clark, Steve Freihon, Miranda Hoffner, Lincoln Center . Lawrence Sumulong, Lincoln Center Miranda Hoffner, Hoffner, Lawrence Sumulong, Brian Brennan, Brennan Organizations: Service, Kéroul, Ministry of Tourism, Tourism, Quebec Ministry of Tourism, Bonjour, Lincoln Center, Lincoln Center ., Lincoln, MMGY Global Locations: Quebec, Mexico, Stoneham, Playa Del Carmen, Atlantic City , New Jersey, New York, York City

☆ John Oliver says the Hollywood writers' strike was no vacation
▼ + stars: | 2023-10-25 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

The Hollywood writers' strike was no vacation for talk show hosts, John Oliver says. Oliver discussed the topic on an appearance on "Late Night with Seth Meyers" on Monday. AdvertisementAdvertisementJohn Oliver, the host of "Last Week Tonight," says the Hollywood writers' strike was no vacation. The writers' strike ended on September 27 when the Writers Guild of America secured a deal with the Alliance of Motion Picture and Television Producers for stipulations including better pay, AI safeguards, and minimum staffing. The nearly-150-day strike was the second-longest in the guild's history, only surpassed by the writers' strike of 1988.

Persons: John Oliver, Oliver, Seth Meyers, —, Meyers, Todd Holmes, Stephen Colbert, Jimmy Fallon, Jimmy Kimmel Organizations: Hollywood, Service, Writers Guild of America, Alliance, Producers, California State University, Northridge, Force

☆ Off-duty Alaska Airlines pilot warned 'I am not okay' before alleged attempt to disable plane engines
▼ + stars: | 2023-10-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

In this article ALK Follow your favorite stocks CREATE FREE ACCOUNTAn Alaska Airlines jet departs John Wayne Airport in Santa Ana, CA on Monday, August 8, 2022. Medianews Group/orange County Register Via Getty Images | Medianews Group | Getty Images"I am not okay," an off-duty Alaska Airlines pilot said before allegedly reaching and grabbing handles that could have disabled the aircraft's engines, according to a federal complaint filed on Tuesday. The pilots told investigators that there was no indication of anything wrong early in the flight, according to court records. One of the flight's pilots told investigators that Emerson settled down after about 20 to 30 seconds and exited the cockpit. After leaving the cockpit, Emerson told a flight attendant, "You need to cuff me right now or it's going to be bad."

Persons: Joseph David Emerson, Emerson Organizations: Alaska Airlines, John Wayne Airport, Medianews, Getty, Alaska, Portland International Airport, Justice Department, Multnomah County Sheriff's, Pilots Locations: Santa Ana , CA, San Francisco, Portland, Pleasant Hill , California, Oregon, Multnomah County

☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +23 min

These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.

Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo

☆ Pilot Who Disrupted Flight Said He Had Taken Psychedelic Mushrooms, Complaint Says
▼ + stars: | 2023-10-24 | by ( Michael Levenson | More About Michael Levenson | ) www.nytimes.com time to read: +1 min

It was not immediately clear if Mr. Emerson had a lawyer. Mr. Emerson, of Pleasant Hill, Calif., has been a first officer and then a captain for more than two decades. Multnomah County court records indicate he does not have a criminal record. On Sunday, Mr. Emerson was riding in a jump seat in the cockpit of an Alaska Airlines jet, an Embraer 175, the authorities said. Professional pilots say it is common for them to ride in the cockpit jump seat while shuttling to and from work.

Persons: Emerson, “ Organizations: U.S, Attorney’s, District of, Federal Aviation Administration, Alaska Airlines, Embraer, Horizon Air, Professional Locations: District of Oregon, Multnomah County, Portland ,, Pleasant Hill, Calif, Everett, Wash, San Francisco, Astoria, Ore, Portland

What’s going to stop that?” said Jon Loffi, a longtime law enforcement officer who teaches aviation security at Oklahoma State University and wrote a paper on identifying insider threats. The Federal Aviation Administration says its approved medical examiners are trained to gauge a pilot's mental health. The Horizon close call could result in the re-examination of the practice of letting off-duty pilots or other airline employees sit in the cockpit jump seat. Security experts say it would be difficult if not impossible to stop every determined criminal or terrorist who targets aviation. The off-duty Alaska Airlines pilot who was arrested Sunday joined Horizon as a first officer or co-pilot in 2001.

Persons: We’re, ”, Jon Loffi, It's, Joseph David Emerson, Emerson, Jeffrey Price, “, Ross Aimer, ” Price, ” Loffi, Loffi, Pete Buttigieg, Karen Yee, ” Allen Scott, ___ Claire Rush Organizations: Alaska Airlines, Oklahoma State University, FAA, FBI, Federal Aviation Administration, Metropolitan State University of Denver, Oklahoma State, FedEx, Pacific Southwest Airlines, Security, Transportation Security Administration, Sunday, Virgin America, Mercury, San Francisco Chronicle Locations: U.S, Oklahoma, French, California, Alaska, Multnomah County , Oregon, Portland, Pleasant Hill , California, San Francisco, Jose, Portland , Oregon

☆ Keep your sweetened CD yields going with this maneuver
▼ + stars: | 2023-10-18 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The one-year Treasury bill is yielding 5.47% Wednesday, and one-year CDs at some institutions offer annual percentage yields exceeding 5%. "It always makes sense to look at the landscape," said Danika Waddell, a certified financial planner and founder of Xena Financial Planning. Ally Financial and Bread Financial are among the institutions offering a higher renewal rate for customers who stick around. Consider that about a year ago, the average one-year CD had an APY of less than 1%, according to Bankrate.com . Consider that Synchrony Financial has an 11-month no-penalty CD that offers a 4.5% APY, while its 12-month standard CD yields 5.1%.

Persons: Danika Waddell, Morgan Stanley, Banks, Betsy Graseck, Mark Hamrick, It's, Waddell, Michael Bloom Organizations: Federal Reserve, Treasury, Investors, Xena, PNC, WFC, Bankrate.com, Ally, Federal Deposit Insurance Corp Locations: JPM

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ Posting About Israel and Palestine Is Not a Moral Obligation - The New York Times
▼ + stars: | 2023-10-17 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +3 min

Sitting with uncertainty is hard, especially when social media has primed us to expect perfect real-time information during traumatic events and to want instantaneous answers and resolution. Knee-jerk social media posts are not what bother me most, though. Instead, it’s the idea that not posting is wrong somehow — that everyone needs to speak, all the time. It implies it’s not OK to have any uncertainty about what’s going on or any kind of moral analysis that does not lend itself to presentation in a social media post. If the destruction of Gaza is not the goal, it is a very real possibility, and that should be equally unacceptable.

Persons: ”, LVMH Moët Hennessy Louis Vuitton Organizations: Hamas Locations: Israel, Manhattan, Gaza

☆ I use a rainy day cash fund to splurge on items like SZA tickets. My method is a little 'girl math' and a little 'cash stuffing,' but it works for me.
▼ + stars: | 2023-10-15 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

I bought SZA concert tickets with a rainy day cash fund. On the back in gold gel-pen letters, I'd written "Rainy Day Cash." Inside was a small amount of cash I'd received for my birthday a couple of months ago. Girl math became the topic of viral videos on TikTok in which women justify spending money on coffee, clothes, or concert tickets because the cost is relative to the value they place on it. Timothy Norris/GettyMy cash envelope was similar to another personal finance strategy called " cash stuffing ," by which people budget their monthly expenses in cash envelopes and only spend what they have set aside for each category.

Persons: —, Taylor, I'd, Imani Barbarin, SZA, Timothy Norris, Getty Organizations: Service, Ticketmaster, Barclays Center

☆ Morning Bid: Rate jitters are back
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] Produce is displayed at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. Thursday's U.S. consumer price data stoked expectations that the Federal Reserve is perhaps not yet done with monetary tightening. Markets are now pricing in about a 40% probability of a rate hike in December, versus a 28% chance before the report. In recent comments, Fed officials have cited rising bond yields as a factor that may allow them to end the rate hike cycle. But the latest data has brought some of the rate jitters back.

Persons: Sarah Silbiger, Ankur Banerjee, Edmund Klamann Organizations: Washington , D.C, REUTERS, Federal, JPMorgan Chase, Thomson Locations: Mount Pleasant, Washington ,, Ankur, Spain, France, Sweden, China, U.S, Asia, Pacific, Japan, Singapore's

☆ Gasoline, food drive US producer prices higher; core inflation cools
▼ + stars: | 2023-10-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The so-called core PPI increased 2.8% on a year-on-year basis in September after climbing 2.9% in August. Wholesale goods prices increased 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-quarters of the increase. Excluding the volatile food and energy components, core goods prices edged up 0.1% for the second straight month. This mostly reflected the normalization of supply chains, whose disruption fueled goods inflation in the aftermath of the COVID-19 pandemic. Though core inflation is cooling, higher gasoline and food prices could hamper progress by raising the cost of other goods as well as causing consumers to expect inflation to rise.

Persons: Sarah Silbiger, Christopher Rupkey, Will Compernolle, Alex McGrath, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Labor Department, Federal Reserve, Treasury, Reuters, PPI, Reuters Graphics, Trade, Fed, Thomson Locations: Mount Pleasant, Washington ,, WASHINGTON, New York, East, Greenville , South Carolina

☆ Loneliness and inflation are pushing Gen Z away from dating
▼ + stars: | 2023-10-07 | by ( Phil Rosen | Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Expensive dates, inflation, and loneliness are weighing on Gen Zers seeking romantic connections. AdvertisementAdvertisementBecause Gen Z grew up with Facebook, Instagram, and other social platforms, many 20-somethings have grown accustomed to instant connection. To that point, dozens of Gen Zers told Insider they're putting more effort into friendships and nonromantic social events to combat loneliness. Inflation hovered at 3.7% year over year in August, nearly double the 2% rate policymakers want, and it's weighing on Gen Z wallets. "Gen Z wants to find people in natural, organic contexts as friends first, and if something romantic happens, that's great," Lerner said.

Persons: Zers, Gen Zers who'd, —, Marianne Simpson, she'd, Simpson, Vivek Murthy, Z, Kellie Ammerman, Ammerman, Karin Kimbrough, LinkedIn's, Tinder, Bumble, Taylor Price, Price, daters, Gen, Cliff Lerner, Gen Z, Lerner, Andrew Yeung, Yeung, Maxine Williams, Williams, We're Organizations: Service, New, Facebook Locations: New York City, America

"The goal truly is channels of communication and ensuring we don't veer into conflict - simple as that," said a senior Biden administration official. The Biden administration wants to counter the country's growing military without provoking a conflict and to push back on what it considers unfair business practices while avoiding an all-out trade war. "The criticism we get from some on (Capitol) Hill and some in the academic community, of course, is that competing means you can't talk to China," said the administration official. NO DELAY IN CHINA POLICIESAdministration officials acknowledge China may see the U.S. push to engage as a chance to weaken or slow Washington's policies targeting China, particularly on exports in strategic industries such as semiconductors, but deny that this is happening. The administration official denied the delays were to avoid upsetting China but were about "getting the technical pieces right, and balancing economic impact on our own domestic competitiveness."

Persons: Antony Blinken, Leah Millis, Biden, Joe Biden, Xi Jinping, Ivan Kanapathy, Travis King, China –, Xi, San Francisco – doesn't, Mike Gallagher, Michael Martina, Humeyra Pamuk, Don Durfee Organizations: U.S, State Department, REUTERS, Rights, Biden, China, gaslight, White House National Security, Economic Cooperation, Republicans, China's Communist Party, CCP, Democratic, Inspur, Diplomats, Blinken, Thomson Locations: Mexico, Washington , U.S, United States, China, Beijing, U.S, stonewall, Asia, North Korea, San Francisco, CHINA, South China, Lincoln

☆ A couple without a business or finance background raised $180,000 to open a taco shop. They brought in more than $1 million in revenue in year one and credit their success to 3 non-business-related fa
▼ + stars: | 2023-10-05 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

The couple, who started tinkering in their apartment kitchen in 2019 in an effort to recreate the breakfast tacos Jaramillo grew up eating, raised $180,000 from family and friends to bring their restaurant to life. That's a relatively small amount for opening a brand-new restaurant, noted May: "We were able to do it on a pretty shoestring budget." When they raised money, they didn't give up any equity, meaning Jaramillo and May own 100% of the company. "I think we both have strong entrepreneurial instincts but we don't come from a finance or a business background," said May. "There's a certain value to the human piece that you get when you come to the shop," said May.

Persons: Tejana, Ana, Maria Jaramillo, Gus May, —, tacos Jaramillo, Jaramillo, May, We've, we've, they've, Jaramillo —, McAllen , Texas —, it's, It's, They've, " Jaramillo, Tejana Jaramillo Organizations: GWU, DC Locations: Washington, DC, Mount Pleasant, Monterrey, Mexico, McAllen , Texas, Texas, La, Pleasant

☆ Denver experimented with giving people $1,000 a month. It reduced homelessness and increased full-time employment, a study found.
▼ + stars: | 2023-10-05 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +6 min

Direct cash assistance reduced homelessness and increased employment in Denver, a study found. "Many participants reported that they have used the money to pay off debt, repair their car, secure housing, and enroll in a course," he said. Six months in, most who received money from the project were better off — significantly so, according to researchers at the University of Denver's Center for Housing and Homelessness Research. And the study also relied on participants self-reporting their situations in exchange for payments of up to $30. Smaller cities, such as Santa Fe, have also experimented with cash payments, as have rural areas, including upstate New York.

Persons: —, Mark Donovan, Donovan, Zhao Organizations: Denver, Service, Income, Wooden, Pew Charitable Trust, University of Denver's Center for Housing, Homelessness Research, University of British, Guardian Locations: Denver, Tesla, Sacramento, Jacksonville, San Francisco, Santa Fe, New York, Philadelphia, United States, Vancouver, Canada, University of British Columbia

Political Cartoons View All 1190 ImagesFor years, California didn't regulate groundwater, allowing farmers and residents alike to drill wells and take what they needed. There is a small market, hardware store, a Western-themed boutique hotel and miles of land sown with olives, pistachios, grapes and carrots. From the start, Grimmway and Bolthouse participated in the formation of the local groundwater sustainability agency and plan. Furstenfeld, who sits on an advisory committee to the groundwater agency, doesn’t own land and doesn’t have an attorney. The company that owns the land, Bolthouse Land Co., is still litigating.

Persons: Lee Harrington, “ It’s, ” Harrington, Bolthouse, ”, Dan Clifford, Jeff Huckaby, “, ” Huckaby, Jake Furstenfeld, David, Goliath, Alfonso Gamino, haven’t, Eric Garner, Huckaby, Grimmway, Jean Gaillard, ” Gaillard Organizations: —, Bolthouse Locations: Calif, California, New, Los Angeles, Cuyama, Oxnard, Pleasant, San Diego County, Southern California

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