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☆ Why investors shouldn't be clamoring for rate cuts this summer
▼ + stars: | 2024-05-15 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

AdvertisementThe market should be careful what it wishes for when it comes to rate cuts from the Federal Reserve. Ed Yardeni, a longtime market veteran, has warned of a stock market "meltup" if the Fed were to cut interest rates this summer. High interest rates on risk tipping the economy into recession, but lowering rates too quickly risks a resurgence in inflation, which could slam American consumers. Fed officials have said they're looking for more evidence inflation is on track to fall to its 2% price target before mulling rate cuts. AdvertisementFor the most part, investors aren't expecting interest rates to come down before September.

Persons: Ed Yardeni, meltdowns, Yardeni, —, they're Organizations: Service, Federal Reserve, Bloomberg, Yardeni, Fed

During the pandemic, mortgage rates reached historic lows. HELOC rates have generally remained between 8.16% and 8.59% this year, depending on the term length of the loan. Check out our current HELOC rates page to see the latest rates. To find out the maximum amount you could borrow with a HELOC, multiply your home's current value by your HELOC lender's maximum CLTV. For example, Boyd says that some HELOC lenders can take 50 days or more to close.

Persons: HELOCs, you'll, Adam Boyd, Boyd, You'll Organizations: Bank, Citizens Locations: U.S

☆ Warren Buffett thinks taxes are on the way up. Why selling stocks in advance may not be a good call
▼ + stars: | 2024-05-15 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

That's because the amount of money that's converted is subject to ordinary income tax – which can be as high as 37%. Even for those who are taxed at a lower rate, a sufficiently large conversion might bump them into a higher tax bracket. Long-term capital gains taxes have three tiers, depending on an investor's income: 0%, 15% and 20%. In a higher tax environment, "tax loss harvesting will become more important, and doing it in a performance-neutral way," said Jerrod Pearce, a certified financial planner and partner at Creative Planning in Overland Park, Kansas. Don't sell highly appreciated assets to generate cash if you're donating to charity.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Trump, Tim Steffen, Baird, Roth, Steffen, that's, Jerrod Pearce Organizations: Creative Planning, Mutual Locations: Berkshire, Washington, Overland Park , Kansas

☆ These are the top 10 holdings of the Mormon church's $55 billion stock portfolio
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The investment arm of the Mormon church revealed some of its holdings in a 13F filing Wednesday. These are the top 10 holdings of the church's stock portfolio as of March 31. AdvertisementThe Church of Jesus Christ of Latter-day Saints has an investment portfolio of over $100 billion that includes $55 billion invested in publicly traded stocks. AdvertisementThe church, widely known as the Mormon church, reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of March 31. These are the church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.

Persons: —, of Jesus Christ, Eli Lilly Vincent Kessler, Seth Wenig, Ethan Miller, Apple Justin Sullivan, Microsoft Satya Nadella, Sean Gallup Organizations: Service, of Jesus, Securities and Exchange Commission, Advisors, Reuters, JPMorgan AP, UnitedHealth, Mastercard Reuters, Nvidia, Microsoft, Getty

☆ NATO member Estonia is 'seriously' discussing sending troops to fill non-combat roles in Ukraine, security advisor says
▼ + stars: | 2024-05-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewEstonia has been "seriously" discussing sending troops to Ukraine in roles positioned away from the front lines, per a national security official. Advertisement"Discussions are ongoing," Roll told Breaking Defense. Breaking Defense reported that Roll made these comments on Friday, just days after the country's defense chief, Gen. Martin Herem, told the outlet that Estonia had internally talked about sending troops to Ukraine. Related storiesEstonia is one of the geographically closest NATO members to Russia, with an eastern border shared with the Russian regions Pskov and Leningrad. AdvertisementThat's about 1.6% of its total GDP, more than any other nation that has supplied Ukraine with aid.

Persons: —, Madis, it's, Roll, Martin Herem, Herem, Emmanuel Macron, Ingrida Šimonytė Organizations: Service, Defense, Business, Atlantic Treaty Organization, Breaking Defense, NATO, Lithuanian, Financial Times, Kyiv, Kiel Institute Locations: Estonia, Ukraine, Russia, Pskov, Leningrad, Ukraine Tallinn, Baltic States, NATO, Kyiv, Europe, Finland

☆ As an adult filmmaker, I know kids are watching porn at a young age. Here's how I talk to mine about it.
▼ + stars: | 2024-05-14 | by ( Joni Sweet | ) www.businessinsider.com time to read: +7 min

A lot of parents think they don't need to talk to their kids about porn, but as an adult filmmaker, I never had that option. Talking to children about porn isn't just important for parents in the adult entertainment industry, though. We can't assume our kids have not seen porn. That's why I created the nonprofit The Porn Conversation to give families tools to help them talk with kids about porn literacy. Pointing out the things we see and questioning them helps children build the skills they'll need to understand porn.

Persons: —, Erika Lust, I've, what's, they're, it's Organizations: Service, Lust, Business

☆ I've flipped burgers and hauled packages, but I didn't realize how bad hourly service jobs were until I got a 9-to-5 office job
▼ + stars: | 2024-05-14 | by ( Jane Zhang | ) www.businessinsider.com time to read: +8 min

So I got a job at a shipping company handling packages because I needed health insurance. AdvertisementAt the shipping company, it felt like management had the mindset that if we could be somewhere else, we would be there. It also makes the work feel more meaningful by scratching the itch in the creative side of my brain. You don't get that same sense of being "in the dirt" together when you're working a corporate job. Sometimes, there's that sentiment in office jobs, too, but it's a different kind of dirt when you're working these physical labor jobs.

Persons: —, Justin Jordan, I've, I'd, We've, couldn't, — there's, Kristen Davis, Jane Zhang Organizations: Service, Business, NBC4 Locations: NBC4, janezhang@businessinsider.com

☆ Why the Big TV companies aren't 100% completely screwed. Yet.
▼ + stars: | 2024-05-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Big TV used to have a monopoly on our attention — and our wallets. This mirrors the pitch big TV companies are making this week in New York to advertisers. AdvertisementThe Big TV guys are screwed, right? AdvertisementAnd here to make that argument is Nielsen, which has a new way of tracking attention among media companies — including digital upstarts. And in this version, the TV guys are still sticking around.

Persons: aren't, —, They're, Nielsen, It's, it's Organizations: Service, NFL, Business, Netflix, Disney, ABC, ESPN, Hulu, Paramount, CBS, NBC Universal, YouTube, Nielsen Locations: New York

☆ Cramer's gig economy roundup: Where he stands on Uber, Lyft, DoorDash and Instacart
▼ + stars: | 2024-05-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday provided his take on four major stocks in the gig economy sector: Uber , Lyft , DoorDash and Instacart parent Maplebear . "After hearing from all of these companies, what I see is a confusing situation: Uber, DoorDash and Instacart are all lower after earnings, while Lyft managed to gain a bit of ground," he said. Uber: Cramer said Uber's recent quarter yielded solid results, but the ride-share company did report some weakness in bookings. Lyft: Lyft reported a good quarter, and Cramer noted that, unlike competitor Uber, it actually saw higher-than-expected bookings. AmazonUber, Lyft, DoorDash and Maplebear did not immediately respond to a request for comment.

Persons: CNBC's Jim Cramer, Lyft, Uber, Cramer, that's, he's, David Risher, Maplebear

☆ Nvidia’s CEO was labeled a 'demanding' boss by staff. But experts say you have to be cutthroat
▼ + stars: | 2024-05-13 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

Nvidia's CEO Jensen Huang knows he's a tough boss and has no regrets about it. In a recent interview with "60 Minutes," employees at the company's Santa Clara headquarters told correspondent Bill Whitaker that the entrepreneur is "demanding," a "perfectionist," and "not easy to work for." Huang, who co-founded the chipmaker in 1993 which is now worth over $2 trillion, said this described him "perfectly." "He is to some degree cutthroat," Wladislaw Rivkin, associate professor of organizational behavior at Trinity Business School, told CNBC Make It. Many smaller companies have gone bankrupt but Nvidia "survived," Rivkin noted.

Persons: Jensen Huang, Santa Clara, Bill Whitaker, Huang, Whitaker, Wladislaw Rivkin, Rivkin, Sankalp Chaturvedi, Chaturvedi Organizations: CNBC, Trinity Business School, Nvidia, Imperial College Business School . Workers Locations: Santa, Silicon Valley

☆ An 88-year-old woman married her high school crush — and finally had the wedding of her dreams
▼ + stars: | 2024-05-13 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +4 min

"When I saw her in 9th grade, I thought she was very beautiful and exciting," Passaro told TODAY.com. "I always had a special place in my heart for Roland all through those years," Hall told TODAY.com. "There was an attraction between us that night," Hall told The Washington Post. "I kept saying at 88, maybe I shouldn't wear a veil," Hall told TODAY.com. "I feel the same way as I did at 15," Hall told TODAY.com.

Persons: —, Elaine Hall, Roland Passaro, Passaro, TODAY.com, Hall, — Passaro, Roland, Passaro wasn't, John, James, We're Organizations: Service, The Washington Post, Business, YMCA, Washington, Miami airline, Washington Post Locations: Allentown , Pennsylvania, Allentown, Atlantic City, Florida, Miami, The, Palm Coast , Florida, Kansas

Something new is coming from OpenAI, and Sam Altman will reveal more at 1 p.m. The OpenAI CEO said the news will include updates to ChatGPT and GPT-4. AdvertisementOpenAI is gearing up to introduce new — and possibly magical, according to its CEO — updates to ChatGPT. Cofounder and CEO Sam Altman has teased "new stuff" coming to ChatGPT and GPT-4, the AI model that powers its chatbot, and told his followers to tune in Monday at 1 p.m. Altman did rule out a couple of things you shouldn't expect — specifically GPT-5 or a new OpenAI search engine, which is reportedly in the works.

Persons: Sam Altman, —, Altman, OpenAI Organizations: Service, Business Locations: OpenAI

☆ ChatGPT just made AI more human, and it should make its rivals nervous
▼ + stars: | 2024-05-13 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

The AI company basically planted a flag in the sand emblazoned with two words aimed at its Big Tech rivals: your move. The newest version of the AI chatbot, powered by OpenAI's new flagship AI model GPT-4o, can reason across audio, vision, and text in real time. AdvertisementAll the while, the voice assistant maintained a lighthearted and cheerful tone. In another instance, ChatGPT said the researcher was making it blush when he said he was talking about how "useful and amazing" ChatGPT was. Meanwhile, Amazon had plans to release an "Alexa Plus" paid version of the voice assistant that's powered by generative AI, Business Insider's Eugene Kim first reported.

Persons: —, Sam Altman, Mira Murati, Scarlett Johansson, Spike, Mark, ChatGPT, OpenAI, Alexa, Apple's Siri, Siri, There's, Insider's Eugene Kim Organizations: Service, Big Tech, Business, Warner Bros, Google, Apple, Amazon Locations: ChatGPT

☆ Walmart CEO Doug McMillon shares 3 tips for success in work and life
▼ + stars: | 2024-05-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewWalmart CEO Doug McMillon returned this weekend to his alma mater, the University of Arkansas, where he delivered the commencement address to the class of 2024. McMillon also revealed how some plans didn't work out — like being rejected from the top MBA programs — and how a mistake could have ended his career before it began. I'm wired to think more about what's coming next than the moment right in front of me. AdvertisementMy second piece of advice is to pursue a career that does not feel like work. If you're in the right place, most days, work won't even feel like work.

Persons: —, Doug McMillon, McMillon, Doug McMillon's, I've, Jim Webster, Jim, Wharton, Shelly, they're, Sam Walton's, Helen, it's, you've, Benny Bridwell, Benny, Bryan Adams Organizations: Service, University of Arkansas, Business, Harvard, Stanford, Walmart Locations: Arkansas, USA, South Africa, Rogers

☆ My husband and I stayed at one of the cheapest hotels in Disney World for $265 a night. It was so good I'll never book anywhere else on the property.
▼ + stars: | 2024-05-12 | by ( Stacy Brooks | ) www.businessinsider.com time to read: +1 min

My husband and I stayed at Disney's Art of Animation Resort for $265 a night. I love the immersive theming, and it's linked to my favorite free Disney transportation. The value resort is one of the best places for adults to stay on the property. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Animation Resort, Service, Disney, Animation, Business

☆ A wargame simulated a 2nd Trump presidency. It concluded NATO would collapse.
▼ + stars: | 2024-05-12 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

If Donald Trump wins a second term in the White House in November, NATO may fall apart, a recent wargame found. "What Donald Trump can do is just really hollow out what NATO does," Grimble told Business Insider. The UK has traditionally backed a transatlantic, America-Europe alliance rather than a purely European defense bloc. Yet in the game, it could neither persuade Trump to ease his demands, nor the European NATO members to spend more on defense. "Many NATO members — except for France mainly — thought post-Trump it could be salvageable," Grimble said.

Persons: Donald Trump, Trump, Finley Grimble, Grimble, John Bolton, —, SACEUR, Jens Stoltenberg, NICHOLAS KAMM, hadn't, I'm, Florian Gaertner, Russia doesn't, God's, Michael Peck Organizations: Service, House, NATO, EU, US, Business, US National Security, Allied, Europe, Washington, Nato, Getty, European Union, Joint Expeditionary Force, Northern, —, European NATO, Trump, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Europe, Russia, NATO, Ukraine, China, American, United States, Finland, Romania, Poland, Baltic, France, Germany, French, America, Italy, Estonia, British, Turkey, Baltic States, Ukraine stalemated, Moscow, Russian, Kyiv . Europe, Beijing, Taiwan, Japan, Australia, South Korea, Iran, Saudi Arabia, European, Forbes

☆ In case you missed: More of Warren Buffett's insights from the latest Berkshire meeting
▼ + stars: | 2024-05-12 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

"Under certain market conditions, we could deploy quite a bit of money in repurchases," he said at the shareholder meeting. Berkshire paid $9.2 billion in all of 2023 to repurchase both Class A and Class B shares. "I think it's a fair assumption that [cash holdings] will probably be about $200 billion at the end of this quarter," Buffett said. Cash is attractive Asked about the lack of action to invest his mountain of cash, Buffett revealed that he finds cash attractive right now compared to other assets, especially equities. "If I saw one of those now, I'd do it for Berkshire," Buffett said, referring to his Japanese bet.

Persons: Warren Buffett, Buffett, Cash, he's, Benjamin Graham, I've, Greg Abel Buffett, Greg Abel, Buffet, Abel, Greg, Ajit, Ajit Jain Organizations: Berkshire Hathaway, Berkshire buybacks Berkshire, Companies, Apple, Treasury, Berkshire, Columbia University Locations: Woodstock, Berkshire, repurchases

☆ How American carmakers lost ground in China
▼ + stars: | 2024-05-11 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

American automakers and their non-Chinese counterparts are fighting an existential battle, as local rivals in China outpace them. GM's sales in China, including those of joint ventures it maintains in the country, have fallen from a high of 4 million vehicles in 2017 to 2.1 million in 2023. Several factors have contributed to the decline of U.S. automakers in China. That's precisely why American automakers shouldn't give up on China despite the U.S. companies' sales setbacks, according to Bill Russo, a former Chrysler executive who runs Automobility, a consulting firm in Shanghai. "If you don't compete in China, then what are you going to do when China shows up in your backyard?"

Persons: Michael Dunne, Dunne, Berkshire Hathaway, —, shouldn't, Bill Russo, Russo, haven't Organizations: U.S, Ford, GM, Hyundai, Kia, Nissan, Lotus, Volvo, Berkshire, Huawei, Chrysler Locations: China, U.S, Sweden, Shanghai

☆ As a mom, I think gift cards are terrible gifts. I never have the time to book an appointment.
▼ + stars: | 2024-05-11 | by ( Jenn Morson | ) www.businessinsider.com time to read: +4 min

It's still sitting unused in a drawer, with other gift cards that I haven't touched. "Oh, I will," I responded, thinking of the other massage gift certificate from my birthday that was still tucked in my desk drawer, gathering dust. The massage gift card from last year sits on my dresser in a pile of other plastic cards that were cluttering my purse. Well-meaning gift-givers bestow us with restaurant cards, manicure gift cards, and even more grandiose gestures such as weekend getaways. For all gift-givers looking to show their mother how much they love them with such a gift, think of it like an all-inclusive resort.

Persons: It's, —, she's Organizations: Service

☆ Climate crisis brings high school friends together to back startups overlooked by other VCs
▼ + stars: | 2024-05-09 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Childhood friends Jeremy Brewer and Sam Levac-Levey started their first clean energy startup in 2018. Six years later, they're launching a new venture fund to invest in climate tech companies overlooked by their peers. According to PwC's 2023 study on the state of climate tech, more than 70% of investment went into energy and mobility. Brewer said Starshot is looking to invest in companies that offer "gigaton-scale solutions, that can increase their customers' profitability and revenue." They entered a climate tech accelerator in Canada called Creative Destruction Lab, where they worked for months to perfect their plan.

Persons: Jeremy Brewer, Sam Levac, Levey, Brewer, who's, Starshot, Levac Organizations: Google, Facebook, Tesla, SpaceX, Starshot, CNBC Locations: Montreal, Canada

☆ U.S. economy at risk of seeing higher rates, warns NewEdge's Ben Emons
▼ + stars: | 2024-05-09 | 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 EmailU.S. economy at risk of seeing higher rates, warns NewEdge's Ben EmonsBen Emons, NewEdge Research, joins 'Fast Money' to talk the state of the U.S economy and why we shouldn't hold our breath for a rate cut anytime soon.

Persons: NewEdge's Ben Emons Ben Emons Organizations: U.S Locations: U.S

☆ Don't blame Wall Street for jacking up home prices, economist says
▼ + stars: | 2024-05-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

Wall Street isn't to blame for the non-stop rise in housing prices, according to Capital Economics. The research firm said any legislation designed to block hedge funds from buying homes won't lower home prices. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe ongoing rise in home prices shouldn't be blamed on Wall Street, according to a Thursday note from Capital Economics. The worry is that a surge in big investors buying up single-family homes is driving up prices, exacerbating a shortage in housing, and preventing younger people from becoming first-time home buyers.

Persons: — Organizations: Capital Economics, Investor, Service, Business Locations: Congress

☆ Russia's jamming of American weapons in Ukraine is showing the US what it needs to be ready for in a future fight
▼ + stars: | 2024-05-09 | by ( Chris Panella | Jake Epstein | ) www.businessinsider.com time to read: +10 min

Russia's electronic warfare has repeatedly foiled American precision weapons in Ukraine. Those could include different weapons, specific countermeasures, and the targeting of enemy jamming systems. Any fixes developed to effectively counter the challenge posed by electronic warfare won't just benefit Ukraine. Electronic warfare is a broad term that includes a variety of inexpensive options. Felicia JagdattEfforts to adapt precision weapons to the threat is just one facet of a multi-layered solution, Withington said.

Persons: —, Antonio Aguto, They'll, Mark Cancian, Denis Abramov, Thomas Withington, That's, JDAMs, Withington, Daniel Patt, Harry S, Cancian, it's, Doug Bush, that's, Bush, Felicia Jagdatt Organizations: Service, Systems, Attack Munitions, Security, Marine, Center for Strategic, International Studies, Business, DoD, Russian Defense Ministry, Royal United Services Institute, Getty, Hudson Institute, Truman, US, Intelligence, US Air Force, Army, US Army Locations: Ukraine, Moscow, Russian, Russia, China, Withington, Bliss, Texas

We've got you covered if you're looking for how to get tickets to Fujii Kaze's U.S. concert tour. Fujii Kaze 2024 tour scheduleFujii Kaze's U.S. tour only consists of four concert dates, which resulted from adding two additional shows to the tour's original number. As such, the only way to buy tickets for Fujii Kaze's 2024 US tour is through verified resale ticket vendors. How much are Fujii Kaze tickets? After performing four concerts in the United States, Fujii Kaze will continue his 2024 tour with two additional international shows.

Persons: Fujii, Fujii Kaze's, We've, Fujii Kaze hasn't, It's Organizations: Business, United Theater, Apollo, Netflix, Piano US, Ticketmaster, Piano, Vivid, showtime, Nissan Locations: United States, U.S, Los Angeles, New York City, CA, York City, NY, Los Angeles , CA, New York City , NY, California, Japan

☆ JPMorgan recommends Affirm after plunge: 'Not letting a good sell off go to waste'
▼ + stars: | 2024-05-09 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors shouldn't be spooked by Affirm 's post-earnings sell-off, according to JPMorgan. Analyst Reginald Smith upgraded the buy-now-pay-later stock to overweight from neutral on Thursday, a day after the stock dropped following its latest earnings report. As Smith put it in the headline of his upgrade to clients, we're "not letting a good sell off go to waste." Affirm reported $576 million in revenue for the fiscal third quarter, topping the consensus forecast of $550 million from analysts polled by FactSet. The company also issued strong current-quarter guidance for revenue and gross merchandise volume, which is the total dollar amount of all transactions made through Affirm.

Persons: Reginald Smith, Smith, that's, Shopify Organizations: JPMorgan, FactSet, Bloomberg

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