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☆ States sue TikTok over app's effect on kids' mental health
▼ + stars: | 2024-10-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

Schwalb's suit alleges a slew of "profound" mental health risks are posed to teens and children by compulsive TikTok use, including depression, anxiety, sleep loss and body dysmorphia. "TikTok knows that its design features make its App more addictive and keep users engaged for longer," the suit in D.C. Superior Court alleges. The complaint also says that in 2019, the company introduced "two new dangerous features": a live-streaming feature called TikTok LIVE and a virtual currency system called TikTok "Coins." TikTok incentivizes users to go LIVE by promising these monetary rewards 'the more popular [their] content becomes.'" The suit says that TikTok "earns substantial revenue" from its Coins, charging commissions of up to 50% on each transaction.

Persons: ByteDance, Brian Schwalb, Schwalb, TikTok Organizations: U.S . House, District of Columbia, CNBC, Washington , D.C, NHL's Washington Capitals hockey, Schwalb, AGs, Senate Locations: TikTok, Culver City , California, New York, California, U.S, D.C, Los Angeles, Washington ,, United States, China, Beijing

☆ Florida residents evacuate inward as Hurricane Milton nears
▼ + stars: | 2024-10-08 | by ( Paul P. Murphy | Michelle Krupa | ) edition.cnn.com time to read: +8 min

Anna Maria Island, Florida CNN —Carol Whitmore couldn’t pack her big SUV to leave this barrier island as Hurricane Milton aimed Tuesday for Florida’s west coast with already-historic fury. Hurricane Helene took it two weeks ago. Still, for a while in Helene, Whitmore was cut off. Storm damage from Hurricane Helene sits Tuesday in a True Value store on Anna Maria Island, Florida. A lot of people going through a lot worse.”Dune sand pushed inland by Hurricane Helene sits Tuesday on streets on Anna Maria Island in Manatee County, Florida.

Persons: Anna Maria, Florida CNN — Carol Whitmore couldn’t, Milton, Helene, Whitmore, Maddie, ”, “, ” Whitmore, Jane Castor, Holmes, Bill Tokajer, Jake Keglor, ” Keglor, Keglor, who’d, Angel –, Hurricane Helene, Paul Murphy, CNN “ We’ve, Greg Mullis, Gandy, “ We’ve, Dan Whelan, ‘, Marie Saveikis, “ I’m, it’s, Anna Maria Island, Skip, Annie Radick, Annie, ” Skip, Tokajer, –, “ We’re, Helene … “, You’ve, “ It’s, he’d, ” CNN’s Paul P, Murphy, Michelle Krupa, Leigh Waldman Organizations: Florida CNN, Social, CNN, College H.U.N.K.S, Holmes Beach, National Weather Service Locations: Anna Maria Island, Florida, Florida’s, Helene, Manatee County, Orlando, Mexico, Tampa, Seminole, St . Petersburg, Hurricane, Anna Maria Island , Florida, Pinellas County, Milton, Clearwater, Anna Maria Island , Montana, Anna, Manatee County , Florida, Atlanta

☆ Elon Musk's mother, Maye, appears to encourage voter fraud in X post
▼ + stars: | 2024-10-07 | by ( Bruna Horvath | Bruna Horvath Is An Intern On Nbc News' Tech Team. | ) www.nbcnews.com time to read: +5 min

Elon Musk’s mother, Maye Musk, appeared to encourage a form of voter fraud in a post on X. It appeared to echo conspiracy theories about large-scale voter fraud that have been shared by Elon Musk. The code, however, doesn’t appear to forbid Maye Musk’s statements of encouragement, Persily said. Maye Musk’s post was made the day her son spoke at a rally for former President Donald Trump in Butler, Pennsylvania — where Trump was injured in an assassination attempt in July. Proponents of the laws say they prevent voter fraud, which studies have found to be extremely rare.

Persons: Elon Musk’s, Maye, ”, ” Musk, Elon Musk, Democrats haven’t, Nate Persily, What’s, Persily, Maye Musk, Gavin Newsom, “, Newsom, ” Persily, Donald Trump, Trump, Musk, Trump’s, ” Elon Organizations: Elon, Democrats, Stanford Law School, NBC, U.S, Social, Democrat, Trump, PAC America PAC Locations: California, New York , Massachusetts, Minnesota, Butler , Pennsylvania, Georgia, “ California

Two Democratic lawmakers are demanding that some of the biggest food and beverage companies stop engaging in “shrinkflation” — the practice of reducing product sizes while charging prices that are the same or higher. Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. President Joe Biden has mentioned shrinkflation numerous times, declaring it a “rip-off” in a video he posted to X. Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News. Dean said the letters were sent to “ease the wrongful burden” the companies are imposing on consumers.

Persons: Sen, Elizabeth Warren of, Madeleine Dean of, Mills, General Mills, Jeff Harmening, James Quincey, “, Ramon Laguarta, Spokespeople, Warren, Dean, ” Warren, ” Sen, Elizabeth Warren, Ting Shen, Joe Biden, Nailya Ordabayeva, ”, ” Ordabayeva, shrinkflation, Doritos, Sarah Gallo, ’ ” Dean Organizations: Democratic, Elizabeth Warren of Massachusetts, Cola, PepsiCo, NBC, North, Retail, CNBC, Gatorade, Republican, Taxation, Economic, “, NBC News, Bloomberg, Boston University Questrom School of Business, Consumer Brands Association, General, Federal Reserve Bank of San Locations: shrinkflation, Washington, Federal Reserve Bank of San Francisco

☆ Sen. Elizabeth Warren and Rep. Madeleine Dean demand food and beverage CEOs put a stop to 'shrinkflation'
▼ + stars: | 2024-10-07 | by ( Elizabeth Chuck | ) www.cnbc.com time to read: +7 min

In pointed letters, Sen. Elizabeth Warren of Massachusetts and Rep. Madeleine Dean of Pennsylvania accused General Mills, Coca-Cola and PepsiCo of engaging in a "pattern of profiteering" through shrinkflation and by "dodging taxes." The same with PepsiCo, which "replaced its 32 oz Gatorade bottle with a 28 oz bottle for the same price." Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. President Joe Biden has mentioned shrinkflation numerous times, declaring it a "rip-off" in a video he posted to X. Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News.

Persons: Sen, Elizabeth Warren of, Madeleine Dean of, Mills, General Mills, Jeff Harmening, James Quincey, Ramon Laguarta, Spokespeople, Warren, Dean, Joe Biden, Nailya Ordabayeva, Ordabayeva, shrinkflation, Doritos, Sarah Gallo Organizations: Democratic, Elizabeth Warren of Massachusetts, Cola, PepsiCo, NBC, North, Retail, CNBC, Gatorade, Republican, Taxation, Economic, NBC News, Boston University Questrom School of Business, Consumer Brands Association, General, Federal Reserve Bank of San Locations: Federal Reserve Bank of San Francisco

☆ Trump and Harris’ proposals would both increase the national debt but Trump’s plan would add $4 trillion more, study finds
▼ + stars: | 2024-10-07 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Harris’ plan would boost the debt by $3.5 trillion over the next decade, while Trump’s platform would cause it to spike by $7.5 trillion, according to the Committee for a Responsible Federal Budget’s report, released Monday. It found that Harris’ measures could have no significant impact on the debt or could increase it by $8.1 trillion. And Trump’s proposals could balloon the debt by between $1.5 trillion and $15.2 trillion. These proposals would cost $2.3 trillion in total. But the committee estimates these tariffs would bring in between $2 trillion and $4.3 trillion over a decade — not enough to cover Trump’s agenda.

Persons: CNN —, Kamala Harris, Donald Trump, Harris ’, Harris, ’, Trump, Jerome Powell, “ We’re, ” Marc Goldwein, Brian Hughes, Trump’s, ”, That’s, Joe Biden’s, Katie Lobosco, Matt Egan Organizations: CNN, Republicans, Democrats, Trump, Social Security, Peterson Institute for International Economics, Center, of Education Locations: American

☆ Mike Johnson won't commit to bringing House back before the election for more hurricane relief
▼ + stars: | 2024-10-07 | by ( Summer Concepcion | ) www.cnbc.com time to read: +4 min

House Speaker Mike Johnson on Sunday did not commit to calling Congress back into session before the election after President Joe Biden pressed congressional leaders about potential funding shortfalls in the aftermath of Hurricane Helene. The president noted that the White House requested more funding for the program as Congress prepared a short-term funding bill that passed last month to avert a government shutdown. Pressed on whether he would call Congress back into session before the election, Johnson replied, "We'll be back in session immediately after the election." Johnson's comments come after Biden said in remarks at the White House last week he expects to ask Congress for a supplemental funding request for areas affected by Hurricane Helene. "The American people are disgusted by this, up with it, and so are Republicans in Congress," he said.

Persons: Mike Johnson, Joe Biden, Hurricane Helene, Johnson, Alejandro Mayorkas, we'll, Biden, Karine Jean, Pierre, Kamala Harris, Mayorkas Organizations: Fox, Homeland, White House, Congress, Hurricane, Federal Emergency Management Agency, shouldn't, White, Biden, FEMA, Republicans Locations: Hurricane, Florida

☆ Hurricane Milton, now a Category 5 storm, threatens an already-battered Florida
▼ + stars: | 2024-10-07 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Hurricane Milton has intensified into a Category 5 storm, the highest classification. It's set to make landfall on Wednesday in Florida, which is still reeling from Hurricane Helene. Milton is expected to smash into the state as federal disaster funds are already running out. Hurricane Milton intensified into a Category 5 storm — the most severe classification — in the Gulf of Mexico on Monday and is expected to make landfall in Florida on Wednesday. And that was before Milton intensified in the Gulf Coast and threatened to deal Florida another crushing blow.

Persons: Milton, Hurricane Helene, —, Hurricane Milton, Helene, Ron DeSantis, DeSantis, Alejandro Mayorkas, Joe Biden, Biden Organizations: Service, Federal Emergency Management Agency —, National Hurricane Center, Associated Press, Analytics, FEMA, AP, Business Locations: Florida, Hurricane, Gulf of Mexico, Georgia, North Carolina, Tennessee, Tampa Bay, Milton, Washington, Gulf, While Florida, —

☆ Good news: The ‘hard landing’ forecasters got it wrong
▼ + stars: | 2024-10-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But as we wind down 2024, one thing appears clear: The naysayers on Team Hard Landing got it wrong. The “soft landing” versus “hard landing” metaphor — perhaps overused but visually handy — refers to the economy as an airplane and the Fed as the pilot. Pull the right levers at the right time, and you get a nice comfortable soft landing, with inflation cooling and the labor market thriving. He was far from alone in thinking that a soft landing was little more than a fantasy. “We should just drop the soft landing versus hard landing discourse and start talking about a robust expansion at mid-cycle,” Joe Brusuelas, chief economist at RSM, told Schwab Network in an interview.

Persons: CNN Business ’, everyone’s, ”, Sung Won Sohn, we’d, ” Aaron, “, there’s, Justin Wolfers, Bill Dudley, “ I’ve, Dudley, Larry Summers, they’re, Joe Brusuelas Organizations: CNN Business, New York CNN, Loyola Marymount University, Fed, . Upjohn Institute, Employment Research, ICYMI, Bureau of Labor Statistics —, Federal Reserve Bank of New, Bloomberg, RSM, Schwab Network Locations: New York, Federal Reserve Bank of New York

☆ Samurai sword master rates samurai movie battles
▼ + stars: | 2024-10-07 | by ( Ian Phillips | David Ibekwe | ) www.businessinsider.com time to read: +1 min

Seki Nobuhide Sensei, a martial arts and katana instructor, rates portrayals of samurai battles in movies and TV shows. He breaks down the differences between samurai and ninja fighting techniques in "The Last Samurai," starring Tom Cruise and Ken Watanabe. He describes how to best anticipate your opponent's moves in "John Wick: Chapter 4," starring Keanu Reeves, Donnie Yen, and Hiroyuki Sanada. He talks about how to battle multiple opponents at once in "Harakiri;" and "Seven Samurai," starring Toshiro Mifune. Seki Nobuhide Sensei is the 22nd headmaster of Asayama Ichiden-ryu.

Persons: Seki Nobuhide Sensei, Tom Cruise, Ken Watanabe, John Wick, Keanu Reeves, Donnie Yen, Hiroyuki Sanada, Hugh Jackman, Uma Thurman, Lucy Liu, David Carradine, Robert Downey Jr, Chris Evans, Jeremy Renner, Toshiro Mifune, James, Roger Moore, Asayama

As a matter of fact, arrivals quadrupled from the last year of President Trump. Walz says Harris told him to be more careful with his wordsLater, it also featured Harris’ running mate, Minnesota Gov. Trump sat down with “60 Minutes” correspondent Lesley Stahl in October 2020 and abruptly ended the interview when he apparently objected to Stahl’s questions. Trump told reporters in Wisconsin last week that he’d “like to get an apology” for that interview before sitting down for another one. “If he is not going to give your viewers the ability to have a meaningful, thoughtful conversation, question and answer with you, then watch his rallies,” Harris told Whitaker.

Persons: Kamala Harris, she’d, nominee’s, Harris, Alex Cooper, ABC’s, Howard Stern, Stephen Colbert, she’s, Donald Trump, Harris ’, Joe Biden’s, should’ve, Biden, tanking, Trump, Bill Whitaker, It’s, ” Harris, ”, Putin Harris, Vladimir Putin, “ Putin, Volodymyr Zelensky, “ I’ve, Ukraine –, Ripon , Wisconsin –, Liz Cheney, Cheney, she’ll, ’ —, would’ve, ‘, ’ ” Cheney, “ That’d, “ She’s, ” Cheney, Walz, Tim Walz, ‘ Tim, ” Walz, Scott Pelley, Lesley Stahl, Whitaker, “ You’re, ” CNN’s Aaron Pellish Organizations: CNN, Democratic, CBS, “, UN, Atlantic Treaty Organization, White, Ukraine, Republican Party, Wyoming, Trump, Capitol, Minnesota Gov, Republicans, Fox News Locations: Russia, Ukraine, Univision, “ Ukraine, Kyiv, “, Ripon , Wisconsin, Hong Kong, Tiananmen, Lago, Wisconsin

Tax-loss harvesting is a common year-end method used by investors and money managers to minimize taxes. The practice involves selling off losing positions to offset taxes on realized capital gains incurred on winning investments. To find the names worth selling, CNBC Pro used its stock-screening tool to hunt for names with a market cap exceeding $1 billion. The cloud platform company's stock has lost roughly 57% this year, with the average price target implying that shares could fall about 18%. Back in August, he slashed his price target to $5.50 from $8.50, noting that Fastly took "a meat cleaver to CY24 outlook."

Persons: Davidson, Rudy Kessinger, Fastly, cleaver, Carter's, Kennedy, Wilson, Platt Organizations: CNBC Pro, Arbor Realty Trust, Leggett Locations: Fastly

☆ Wall Street is getting tired of Corona brewer Constellation, but Jim Cramer says to hold on
▼ + stars: | 2024-10-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Jim Cramer is planning to stay in the game with Constellation Brands , despite a Wall Street firm moving to the sidelines on the Mexican beer importer. Shares of New York-based Constellation Brands fell 1.5% Monday, off their lows of the session. In the June-to-August period reported Thursday, beer sales rose 6%, compared with increases of 8%, 11% and 11.8% in its three prior quarters. In explaining why we're sticking with Constellation, Jim said Monday he liked what he heard from Constellation Brands CEO Bill Newlands during the executive's appearance Friday on "Mad Money." This uptick coincided with increased marketing spending behind its top beer brands, Newlands said.

Persons: Jim Cramer, Jim, there's, Bill Newlands, Newlands, —, Kim Crawford, Meiomi, Duckhorn, Morgan Stanley, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Bank of America, Modelo, Corona, Constellation, CNBC Locations: York, Mexico, Corona, San Anselmo , California

☆ Mike Johnson won’t commit to bringing House back before the election for more hurricane relief
▼ + stars: | 2024-10-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +4 min

House Speaker Mike Johnson on Sunday did not commit to calling Congress back into session before the election after President Joe Biden pressed congressional leaders about potential funding shortfalls in the aftermath of Hurricane Helene. In his letter, the president urged Congress to restore funding to the Small Business Administration’s disaster loan program, which was facing potential funding shortfalls even before Hurricane Helene devastated parts of the Southeast. The president noted that the White House requested more funding for the program as Congress prepared a short-term funding bill that passed last month to avert a government shutdown. Pressed on whether he would call Congress back into session before the election, Johnson replied, “We’ll be back in session immediately after the election.”“That’s 30 days from now. “The American people are disgusted by this, up with it, and so are Republicans in Congress,” he said.

Persons: Mike Johnson, Joe Biden, Hurricane Helene, ” Johnson, Alejandro Mayorkas, Johnson, “ We’ll, ”, we’ll, Biden, Karine Jean, Pierre, “, Kamala Harris, Mayorkas Organizations: “ Fox, Homeland, White House, Congress, Hurricane, Federal Emergency Management Agency, shouldn’t, White, Biden, FEMA, Republicans Locations: Hurricane, Florida

☆ Food poisoning dangers are real after severe weather. Here’s how to protect yourself
▼ + stars: | 2024-10-06 | by ( Aj Willingham | ) edition.cnn.com time to read: +5 min

When the power goes out, it’s a race against time to make sure food doesn’t spoil. “Bacteria multiply quickly between temperatures of 40 degrees Fahrenheit and 140 degrees Fahrenheit,” CNN wellness expert Dr. Leana Wen told CNN. Once the power is cut, a full freezer can hold a safe temperature for 48 hours with the door closed. They should also be kept in separate areas of the refrigerator any day of the week, regardless of the weather. If you are in one of these high-risk groups, the CDC recommends paying special attention to food safety procedures when buying, preparing, cooking and storing your food.

Persons: it’s, Leana Wen, ”, –, Bill Marler, ” Marler, they’re, Don’t, Hurricane Helene, Bryan Olin Dozier, Wen, Marler Organizations: CNN — Hurricanes, US Centers for Disease Control, CDC, CNN, Press Locations: Seattle, CJ's, Lansing , North Carolina

☆ ‘Frankly ridiculous’: FEMA administrator slams Trump for boosting false Helene recovery claims
▼ + stars: | 2024-10-06 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Administrator of the U.S. Federal Emergency Management Agency, Deanne Criswell, speaks during a press briefing at the White House in Washington, U.S., September 26, 2024. Federal Emergency Management Agency administrator Deanne Criswell on Sunday criticized former President Donald Trump for spreading false information about how the Biden administration allocated disaster relief funding for Hurricane Helene recovery. "It's frankly ridiculous and just plain false," Criswell said in an interview on ABC's "This Week." On FEMA's "Rumor Response" webpage, the agency specifically addressed the claim that FEMA disaster relief funding "was diverted to support international efforts or border related issues." The Department of Homeland Security and White House have issued their own statements fact-checking and condemning the false claims.

Persons: Deanne Criswell, Donald Trump, Biden, Helene, Criswell, Trump, Elon Musk, Kamala Harris Organizations: U.S . Federal Emergency Management Agency, White, Federal Emergency Management Agency, Sunday, FEMA, Department of Homeland Security, SpaceX Locations: Washington , U.S

☆ Harris floods the zone with Howard Stern, Stephen Colbert, podcast interviews in final election sprint
▼ + stars: | 2024-10-06 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

To kick off the week, Harris' interview with Alex Cooper on the popular "Call Her Daddy" podcast is expected to air Sunday. The Trump campaign declined to do a "60 Minutes" interview after initially accepting the invitation, according to the network. On Tuesday, the Harris campaign will fly the vice president to New York for appearances on ABC's "The View," CBS' "The Late Show with Stephen Colbert" and "The Howard Stern Show." Along with various appearances on Fox News, more friendly territory for the Republican nominee, Trump has interviewed on podcasts that are popular with young men like "This Past Weekend w/Theo Von" and the "Lex Fridman Podcast." Over the course of Harris' fast-tracked campaign, the vice president has sat for interviews with CNN, a panel from the National Association of Black Journalists, MSNBC and some local outlets.

Persons: Kamala Harris, Donald Trump, Harris, Alex Cooper, Tim Walz, Bill Whitaker, Trump, Stephen Colbert, Howard Stern, Joe Biden, Theo Von, Lex Fridman, Phil, Shawn Ryan, Elon Musk Organizations: Democratic, U.S, Republican, Michigan U.S, CBS, Minnesota Gov, Univision, Trump, Fox News, Navy, CNN, National Association of Black Journalists, MSNBC Locations: Redford Charter Township, Michigan, New York, Spanish

☆ How companies can ease the strain on employees taking care of elderly parents or ill family members
▼ + stars: | 2024-10-06 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

CNN —Taking care of an elderly parent or seriously ill spouse or family member can be physically and emotionally draining — and expensive for the caregiver in more ways than one. While employers have been expanding their benefits to help employees start families and more easily care for their children, they are now thinking more holistically about what it means to support employees’ family lives, including benefits for things like elder care, Izbicki said. Fuller constructed a return-on-investment model to assess the value of providing caregiving benefits. Given the high cost of replacing employees, reducing turnover can mean the cost of providing caregiving benefits will more than pay for itself. Protecting caregivers’ financesWorking caregivers navigate a lot: Finding doctors, heath care aides and assisted living facilities or nursing homes.

Persons: caregiving, ”, Melinda Izbicki, Mercer, Izbicki, Joseph Fuller, Fuller, ” Fuller, Danielle Miura, Miura, ” Miura Organizations: CNN, AARP, National Alliance for Caregiving, Harvard Business School Locations: United States

"We have kind of a two-level house — it's not a two-story, but there are two levels," Smith-Frady told Business Insider. AdvertisementIn May 2024, the average cost of flood insurance in Florida was $781 a year, according to personal-finance company NerdWallet. Advertisement"It basically makes the home a total loss if they don't have flood insurance," Meyer Lucas said. "In Florida, there's really high flood risk, which I think is broadly understood, but that the cost associated with that flood risk is not being captured in home values." "The storms are happening so diversely in so many different areas of the state," D'Amario told Business Insider.

Persons: Helene, —, Hurricane Helene, Alexis Smith, Smith, Frady, Idalia, She's, Katie Mallah, Mallah, Katie Mallah Mallah, it's, Heather Cameron, Cameron, Holly Meyer Lucas, Meyer Lucas, Jon Schneyer, Pete, haven't, Jesse Gourevitch, there's, Ryan D'Amario, D'Amario Organizations: Service, FEMA, Business, Flood Insurance, Hurricanes, Sunshine State, Farmers Insurance, Bankers Insurance, Miami Herald, Capital Economics, Palm, Street Journal, Environmental Defense Fund Locations: Florida, St, Petersburg, Hurricane, Bradenton, North Carolina, Tampa, Sarasota, St . Petersburg, Shore, Shore Acres , Florida, Insurify, Palm Beach, Nature, Appalachia, Gulf

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. Buying them all new shoes doesn't feel optional to me, but it does to my partner, who is still pretending we're surviving off only one income. Your partner doesn't want to spend just to spend, and I don't think you want to save just to save. Write to For Love & Money using this Google form .

Persons: isn't, —, I'm, it's, we're, they're, doesn't Organizations: Business, Service

☆ Illinois is considering a 3% tax on millionaires to solve the state's skyrocketing property tax problem
▼ + stars: | 2024-10-06 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

The governor says the tax could generate $4.5 billion annually and alleviate high property taxes. Illinois has the second-highest property taxes in the US. State leaders say it could alleviate the burden of high property taxes on the average resident. Illinois has the second-highest property taxes in the United States, according to the Tax Foundation, a tax policy nonprofit. "South suburban homeowners already pay some of the highest property taxes in the county, and these increases will make paying those bills even more difficult."

Persons: —, JB Pritzker's, Maria Pappas, Pappas, Pat Quinn, Quinn, WBEZ Organizations: Service, Illinois Gov, JB, Tax Foundation, Former Illinois Gov Locations: Illinois, WBEZ, Massachusetts . Massachusetts, United States, Cook County, Chicago

☆ Berkshire Hathaway now owns 100% of BHE, but the utility giant has been a weak spot for the conglomerate
▼ + stars: | 2024-10-06 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett took full control of Berkshire Hathaway Energy, a utility giant that it has owned a majority stake in since 1999, but the business has been a drag on the conglomerate. Berkshire bought the stake for $2.37 billion in cash, $600 million in debt as well as a significant amount of Berkshire Class B shares , according to a regulatory filing. Berkshire Vice Chairman Greg Abel, Buffett's designated successor, sold his 1% stake in BHE for $870 million at a much higher valuation just two years ago. The utility arm has been a weak spot for the conglomerate, which has otherwise enjoyed a few outstanding years. "BHE has been under pressure," said Cathy Seifert, Berkshire analyst at CFRA Research.

Persons: Warren Buffett, Walter Scott, Buffett, Bill Stone, Greg Abel, Buffett's, Abel, BHE, Cathy Seifert Organizations: Berkshire Hathaway Energy, Berkshire, Berkshire Class, Glenview Trust Company, CNBC, BHE, Oracle, CFRA Locations: Berkshire, Omaha, BHE, Glenview, U.S

☆ My husband and I just took our first kid-free vacation. It helped me realize how much he's changed since becoming a father.
▼ + stars: | 2024-10-06 | by ( Katrina Donham | ) www.businessinsider.com time to read: +6 min

My husband and I just went on our first vacation without our kids. We left them with my mother-in-law and headed to NYC, where we used to live. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKatrina Donham and her husband left their two daughters with her mother-in-law to go on a trip. And, though I miss the "old us," I'm enjoying the "present us" — and looking forward to the "future us," too.

Persons: what's, —, we're, Nina Chanel Abney, Katrina Donham, Donham, divulging, matrescence, Dada, welling, I'm Organizations: Service Locations: NYC, Hudson Yards, New York, Washington, Meatpacking, New York City

☆ What Harris’ unrealized capital gains tax proposal means for you
▼ + stars: | 2024-10-06 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

A billionaire minimum tax is one of several proposals pushed by Democrats in recent years to tax the rich. Harris has specifically called for raising the top tax rate on millionaires with long-term realized capital gains from 20% to 28%. Harris’ proposal to increase the tax rate on realized capital gains to 28% would apply to taxpayers with income over $1 million. How a tax on unrealized capital gains would workLet’s discuss how a billionaire minimum tax – which is, on a basic level, a tax on unrealized capital gains – would impact a homeowner. If passed, a billionaire minimum tax – an unprecedented tax on income not yet received – would likely face many legal challenges.

Persons: Kamala Harris that’s, “, ”, Mark Friedlich, Harris, hasn’t, Biden, Joe Biden, Erica York, it’s, ” Friedlich, Ron Wyden, Joe Manchin, Kyrsten, inheritances Harris hasn’t, Biden’s Organizations: Washington CNN, IRS, Wolters Kluwer, Accounting, Biden, Tax, Oregon Democrat, Senate Locations: Altrata, Oregon, Sens, West Virginia, Arizona

☆ A couple moved from Virginia to Panama sight unseen. The lower cost of living, stress-free life, and mild weather have made them happier than ever.
▼ + stars: | 2024-10-06 | by ( Monica Humphries | ) www.businessinsider.com time to read: +6 min

AdvertisementOn July 14, 2022, Kelle Sparta and her husband, Jeff Brandon, set foot in Boquete, Panama, for the first time. AdvertisementIn 2018, the couple moved to Richmond, Virginia, from Boston. Boquete, Panama. Kelle SpartaIn 2022, the couple moved sight unseenIn the summer of 2022, the couple arrived in Boquete with six suitcases and their dog. Sparta and Brandon moved into a temporary Airbnb while looking for a permanent home.

Persons: Kelle Sparta, Jeff Brandon, —, she's, lockdowns, Brandon didn't, Brandon, divisiveness, Monica Humphries, Sparta, they're, I'm Organizations: Kelle, Service, Business, Sparta, Friendly Nations, MIT Locations: Boquete, Panama, Sparta, Brandon, Richmond , Virginia, Boston, Virginia, Europe, Portugal, Valencia, Spain, Kelle Sparta, Panamanian

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