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☆ Microsoft's new AI CEO Mustafa Suleyman works closely with these execs, internal tracking tool reveals
▼ + stars: | 2024-06-26 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Read previewAn internal Microsoft tracking tool has revealed which executives AI CEO Mustafa Suleyman is working with most during his first few months on the job. Microsoft in March hired Suleyman , the head of startup Inflection AI and a cofounder of AI pioneer DeepMind, to be CEO of a newly formed Microsoft AI group. The organization is responsible for consumer AI products such as Microsoft's Copilot AI chatbot and the Bing search engine. Kevin Scott, Microsoft chief technology officerKevin Scott MicrosoftKevin Scott is Microsoft's chief technology officer and executive vice president of AI. Caitlin McCabe, CEO chief of staffMcCabe is Satya Nadella's chief of staff.

Persons: —, Mustafa Suleyman, Suleyman, Karén Simonyan, Yusuf Mehdi, Microsoft Nick Adams, Reuters Mehdi, Kevin Scott, Kevin Scott Microsoft Kevin Scott, He's, Scott, Kevin, Satya Nadella, Amy Hood, Phillip Faraone, Hood, Rajesh Jha, Jha wasn't, Jha, Caitlin McCabe, McCabe, Satya Nadella's, She's, Nadella, Jon Tinter, Chris Young, Tinter Organizations: Service, Microsoft, Business, Reuters, OpenAI

☆ Stanford professor on the future of banking regulation
▼ + stars: | 2024-06-26 | 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 EmailStanford professor on the future of banking regulationAnat Admati, George G.C. Parker professor of finance and economics at Stanford Graduate School of Business, joins 'Money Movers' to discuss the future of banking regulation.

Persons: Admati, George G.C, Parker Organizations: Stanford, Stanford Graduate School of Business

☆ Why Americans Hate Their Jobs; Fake Email Jobs, Meaningless Work
▼ + stars: | 2024-06-26 | by ( Molly Lipson | ) www.businessinsider.com time to read: +11 min

The American Psychological Association highlights findings that people who find their jobs meaningful are more engaged, show up to work more, and are healthier. Many in those industries have begun to refer to their work as "fake email jobs" — office jobs that largely involve sending emails without producing anything. Other people have managed to juggle multiple full-time remote jobs thanks to the limited amount of work each job actually required. Working a useless job is a "profound psychological violence," Graeber wrote, one that removes any sense of dignity and fosters "deep rage and resentment." Short of everyone quitting to become their own CEO, employers will need to figure out how to make work feel meaningful for their staff.

Persons: it's, Zers, Pew, Gen Zers, I've, Graeber, David Graeber, Simon Walo, —, Walo, Brendan Burchell, Burchell, Clay Routledge, Routledge Organizations: Pew Research, American Psychological Association, University of Zurich, University of Cambridge Locations: Italy, Spain, Sweden

☆ IRS watchdog pushes for transparency on pandemic-era small business tax credit backlog
▼ + stars: | 2024-06-26 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Many taxpayers are experiencing "long delays and uncertainty" amid a backlog of roughly 1.4 million pandemic-era small business tax credit claims, according to the National Taxpayer Advocate. "It’s time for the IRS to be transparent on how and when it plans to move forward addressing these ERC claims," she wrote. Some 85% of pending ERC claims are more than 120 days old. "The IRS is between the proverbial rock and a hard place when it comes to ERC claims," Collins said in a statement.

Persons: Erin Collins, Collins Organizations: Taxpayer Advocate Service, Washington , D.C, National Taxpayer, ERC, IRS, Finance Locations: Washington ,, U.S

☆ The yuan's status as a global currency might be gaining ground. But top CEOs see more hurdles to clear
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Beijing has long touted its ambitions for increasing global use of the Chinese yuan — also known as the "renminbi" or "RMB" — in an international financial market where the U.S. dollar is the dominant currency. watch nowLast year, the HKEX announced a "Dual-Counter" program that allows investors to trade Hong Kong-listed securities in Hong Kong dollars or Chinese yuan. The euro was slightly higher at 5.6%, while the U.S. dollar dominated with a nearly 85% share, the data showed. A maturing financial marketDeveloping more Chinese yuan-denominated investment products also requires a maturation of the local financial sector.

Persons: China’s renminbi, Athit Perawongmetha, Bonnie Chan, Chan, We're, SWIFT, Fred Hu, Hu, it's, Patience, Kenny Lam Organizations: Reuters, Hong Kong Exchanges, U.S ., International Monetary Fund, U.S, Primavera Capital, Sigma Asia Locations: U.S, Bangkok, Thailand, Reuters DALIAN, China, Beijing, Russia, Dalian, Hong Kong, Shanghai, Pacific

☆ Kenya president backs down on tax rises after deadly protests
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +3 min

Kenya's president on Wednesday withdrew planned tax rises, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week. "Listening keenly to the people of Kenya who have said loudly that they want nothing to do with this finance bill 2024, I concede. And therefore, I will not sign the 2024 finance bill, and it shall subsequently be withdrawn," he said in a televised address. Thousands took to the streets of Nairobi and several other cities during two days of protests last week as an online movement gathered momentum. Protests in Kenya have usually been called by political leaders who can be amenable to negotiated settlements.

Persons: William Ruto, Ruto, Ruto's, Lawmakers Organizations: Wednesday, Kenyan, IMF, The Nation, Kenya Medical, Medical, Protesters, State, World Bank, International Monetary Fund Locations: Kenya, Eldoret, Nairobi

☆ Here's where U.S. rents are rising — and falling — the fastest
▼ + stars: | 2024-06-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Zumper analyzed median asking rents for apartment listings in the largest 100 U.S. cities by population. Rents have also risen by at least 10% for both one- and two-bedroom apartments in other major metros: Lincoln, Nebraska; Chicago; Buffalo, New York; Madison, Wisconsin; Rochester, New York; and New York City, according to Zumper. What causes rent inflationAt a high level, rent inflation is guided by supply-and-demand dynamics, said Crystal Chen, an analyst who authored the Zumper analysis. Basically, areas with fast-growing rents are seeing demand outstrip the supply of available apartments, while those with falling rents have seen their apartment inventories growing. Rent inflation has fallen substantiallyRent inflation plummeted in the early days of the Covid-19 pandemic.

Persons: Jamie Kelter Davis, Zumper, Crystal Chen, Eric Adams, Fitch, Chen Organizations: Bloomberg, Getty, New, New York City Department of Housing Preservation, Development, Finance, York City Locations: Chicago, U.S, Syracuse , New York, Lincoln , Nebraska, Buffalo , New York, Madison , Wisconsin, Rochester , New York, New York City, Oakland , California, Memphis, Chattanooga , Tennessee, Cincinnati , Ohio, Colorado Springs , Colorado, Irving , Texas, Jacksonville , Florida, Raleigh, Greensboro, Durham , North Carolina, New York, Akron , Ohio, Wichita , Kansas, York

☆ The rise of the "Silver Squatters"
▼ + stars: | 2024-06-26 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rise of the "Silver Squatters"With their countdown to retirement just about a decade away, a new survey finds many Americans in their mid-50s are still "critically underprepared" to stop working. CNBC's Senior Personal Finance Correspondent Sharon Epperson explains.

Persons: CNBC's, Sharon Epperson Organizations: Finance

☆ Top corporate CFOs are losing some confidence in economy, as consumer demand fears spike
▼ + stars: | 2024-06-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Fears among top corporate CFOs about shaky consumer demand have hit a six-quarter higher, according to the latest CNBC CFO Council survey, with the Q2 survey the first time since the beginning of 2023 that over half of CFOs cited consumer demand as the biggest external risk to their business. Consumer demand fears among CFOs have been rising in recent quarters, and match evidence from the market across sectors, with fast-food chains rushing out value menus and car dealers having more difficulty moving inventory. The 54% of CFOs who cited consumer demand as the biggest risk is up from 18% a year ago, and 37% last quarter. Last quarter, almost half of CFOs forecast a 10-year yield that would dip below 4% by the end of the year. But now, CFOs have pushed out their inflation view even further.

Persons: Walmart's, isn't, CFOs, Jerome Powell, it's, Donald Trump Organizations: CNBC, Food, Federal Reserve, Fed, Dow Jones, Biden

☆ These are the 5 US cities you should buy a home in before you get priced out of the housing market, says 'Million Dollar Listing' real estate investor
▼ + stars: | 2024-06-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Most of its residents are millennials, with its residents' median age being 33.6 years. As with Atlanta, most of its residents are millennials, with its residents' median age being 33.1 years. The median age of San Diego residents is 35.8 years. But it's also true that housing in San Diego trends toward the pricier end. San Diego, along with four other Californian cities, was marked as "impossibly unaffordable," according to the 2024 Demographia International Housing Affordability report.

Persons: —, Josh Altman, Altman, Sean Pavone, Eric Johnson, Pengyu Cheng, Michael Warren, Wager, it's, Altman didn't Organizations: Service, Business, Getty, Dallas, Texas, Popular, Disney, San Locations: Atlanta, Dallas, Orlando, Phoenix, San Diego, Texas, California, San Francisco, Eola, Miami, Arizona's, San Diego , California, Los Angeles, US

☆ Levi's shares drop 12% as jeans maker's sales disappoint despite denim craze
▼ + stars: | 2024-06-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

The jeans creator on Wednesday posted fiscal second quarter revenue that fell just short of Wall Street's expectations at a time when shoppers are stocking their wardrobes with denim dresses, skirts and ultra-low-rise baggy pants. It's not clear how sales at Docker's were affected by the timing of Levi's wholesale orders. The changes are necessary because nearly half of Levi's sales these days are coming from its own website and stores. During the quarter, wholesale revenue grew 7%, but excluding the shift in timing of wholesale orders, sales in the channel decreased 4%. Singh noted that wholesale revenue improved on a sequential basis, but the company has a "conservative" view of the channel's growth moving forward.

Persons: hasn't, Levi Strauss, Levi's, Harmit Singh, Singh, Michelle Gass Organizations: LSEG, Finance, CNBC, Levi's, Nike Locations: U.S, Europe, Macy's

☆ The 10 best states for summer road trips, ranked
▼ + stars: | 2024-06-26 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

WalletHub released a report ranking the best US states for summer road trips. States were ranked across 32 metrics including gas prices, safety, and number of attractions. Texas was ranked the best state for summer road trips, followed by Minnesota and New York. AdvertisementIf you're determined to take a road trip this summer but aren't sure where to go, consider one of these 10 states ranked by WalletHub as the best summer road-trip destinations. To determine the best states for summer road trips, WalletHub, a personal-finance website, measured 32 metrics in each state across three overall categories: costs, safety, and activities.

Persons: WalletHub, — Organizations: Service, WalletHub, Business Locations: . Texas, Minnesota, New York, WalletHub

☆ Biden's new student loan relief plan is on pause. Here's what borrowers need to know
▼ + stars: | 2024-06-26 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Cody Gude was counting the seconds until July when his monthly student loan payment was scheduled to drop to $100 from $200. But then he saw headlines on Monday that major parts of the Saving on a Valuable Education, or SAVE, plan were on pause. The U.S. Department of Justice is expected to appeal the preliminary injunctions, but for now, millions of student loan borrowers are disappointed and angry that they won't see the relief they expected in just a matter of days. Gude's student loan servicer, Nelnet, already updated his monthly bill to reflect the lower amount. (Under SAVE, many borrowers pay just 5% of their discretionary income toward their debt each month instead of the previous 10% requirement, and millions of borrowers have a $0 monthly payment.)

Persons: Joe Biden, Education Secretary Miguel Cardona, Cody Gude, servicer, Gude Organizations: Education Secretary, White House, Valuable Education, Biden, U.S . Department of Justice, Finance, Social Security Workers Locations: Washington , DC, Tampa , Florida, Kansas, Missouri

☆ Crypto industry super PAC is 33-2 in primaries, with $100 million for House, Senate races
▼ + stars: | 2024-06-26 | by ( Emily Wilkins | ) www.cnbc.com time to read: +6 min

Yet crypto's Fairshake PAC also got into the race and spent $2 million to air an ad critical of Bowman. But it's not just money that the crypto industry plans to deploy this fall. Jordan Vonderhaar | Bloomberg | Getty ImagesThe effort is also meant to showcase a matured crypto industry. Meanwhile, Democratic incumbent Sen. Jon Tester told "Meet the Press" in 2022 that crypto did not "pass the smell test." Tester told reporters that he is keeping an open mind about several crypto bills before the Senate.

Persons: Jakub Porzycki, Jamaal Bowman, George Latimer, Israel, crypto's, Bowman, Fairshake, glided, John Curtis, Jamal Bowman, Evelyn Hockstein, Andreesen Horowitz, Coinbase, it's, Crypto, Brad Garlinghouse, Garlinghouse, Jordan Vonderhaar, Sam Bankman, Faryar Shirzad, Goldman Sachs, Sherrod Brown, Republican Bernie Moreno, Tim Sheehy, Sen, Jon Tester, Tester, Brett Kavanaugh, Kavanaugh, Mike Segar Organizations: Nurphoto, Getty Images WASHINGTON, Fairshake PAC, Westchester, Republicans, Democrats, Republican, United States Capitol, Reuters, CNBC, Bloomberg, Getty, White, Senate, Democratic, SEC, U.S Locations: Westchester County, Bowman's, Washington, Fairshake, Austin , Texas, Ohio, Montana

☆ Kenyan President Ruto withdraws controversial finance bill following violent protests
▼ + stars: | 2024-06-26 | by ( Lauren Kent | Stephanie Busari | ) edition.cnn.com time to read: +1 min

CNN —Kenyan President William Ruto said Wednesday that he will not sign a controversial finance bill that had sparked deadly protests in the country and left at least six people dead. “Having reflected on the continuing conversation regarding the content of the finance bill 2024, and listening keenly to the people of Kenya who have said loudly that they want nothing to do with this Finance Bill 2024, I concede, and therefore I will not sign the 2024 finance bill,” Ruto said during a television address Wednesday. But the concessions were not enough to quell protests amid the rising cost of living. On Tuesday they turned deadly when security forces fired teargas and live ammunition at protesters. “I send my condolences to the families of those who lost their loved ones in this very unfortunate manner,” Ruto added.

Persons: William Ruto, ” Ruto, “, teargas, Ruto Organizations: CNN, Kenyan Locations: Kenya

☆ Great savers could face a 'tax time bomb' in retirement, advisor says — here's how to avoid it
▼ + stars: | 2024-06-25 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're nearing retirement with a large pre-tax 401(k) plan or individual retirement account balance, you need a plan for managing future levies, financial experts say. Great savers could face a "tax time bomb" in retirement when required withdrawals kick in, said certified financial planner Scott Bishop, partner and managing director of Presidio Wealth Partners in Houston. RMDs are typically tied to pre-tax retirement accounts, which incur regular income taxes for withdrawals. Those RMDs could push some retirees into a higher tax bracket, according to Bishop, who is also a certified public accountant. Those lower rates are scheduled to sunset after 2025 without an extension from Congress.

Persons: Scott Bishop, Joe Biden Organizations: Presidio Wealth Partners, Finance Locations: Houston

☆ Kenya braced for more anti-tax protests as citizens call for ‘total shutdown’
▼ + stars: | 2024-06-25 | by ( Larry Madowo | Stephanie Busari | ) edition.cnn.com time to read: +1 min

CNN —Kenya is in the grip of nationwide protests against proposed tax hikes, culminating in a planned “total shutdown” of the country on Tuesday. The demonstrations, sparked by the Finance Bill 2024, have seen citizens rally under the banner of “7 Days of Rage,” as the nation faces more days of upheaval. President William Ruto has said he wants to have dialogue with the protesters and that he is “proud” of them. Amnesty International Kenya says it is investigating the whereabouts of up to 12 people who were “abducted in the middle of night” ahead of Tuesday’s planned protests. The list includes bloggers, content creators, human rights defenders, a doctor, and a parliamentary staffer, Amnesty Kenya executive director Irũngũ Houghton told CNN.

Persons: William Ruto, Tuesday’s, Irũngũ Houghton, Joe Biden, ”, Biden, Ruto Organizations: CNN —, Finance, CNN, Kenyan, NATO, White Locations: CNN — Kenya, Kenya

☆ Trump’s company is valued ‘absurdly out of the realm of normal,’ LinkedIn billionaire says
▼ + stars: | 2024-06-25 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the LinkedIn co-founder is dumbfounded by the size of the social media fortune former President Donald Trump is sitting on. Trump’s conservative social media company, Truth Social owner Trump Media & Technology Group, is valued by Wall Street at a whopping $6 billion — even after a recent plunge in its share price. “That is wildly high,” Hoffman, who is now a director at Microsoft and a venture capital investor, told CNN. Trump’s stake is worth nearly $4 billionHoffman is hardly the first to express disbelief at the valuation of Trump Media. Based on Monday’s share price, Trump’s 114.75 million shares in Trump Media are valued at nearly $4 billion.

Persons: New York CNN — Reid Hoffman, Donald Trump, ” Hoffman, “, Elon Musk’s, Hoffman, Trump, Meta, —, Jay Ritter, Barry Diller Organizations: New, New York CNN, LinkedIn, Truth Social, Trump Media & Technology Group, Wall, Microsoft, CNN, Trump Media, Nasdaq, Reddit, Meta, Facebook, “ Trump Media, ” Trump Media, Trump, SEC, GameStop, AMC, University of Florida, ” Billionaire, MGM Resorts International, CNBC, White Locations: New York

☆ Protests in Kenya Over Tax Bill: What to Know
▼ + stars: | 2024-06-25 | by ( Eve Sampson | ) www.nytimes.com time to read: +1 min

The sting of tear gas, the crack of live bullets and images of wounded people sprawled across the ground accompanied mass protests Tuesday in Nairobi, the Kenyan capital, after Parliament passed a controversial bill raising taxes, despite criticism that it would intensify economic desperation. At least five people died from gunshot wounds, civic groups said, and crowds breached the Parliament amid plumes of smoke as days of protests against the tax bill ended with police and protesters clashing. Typically a regional bastion of economic security, Kenya has a population of over 54 million. Here is what we know about the contentious legislation that set off Tuesday’s clashes. What will the tax bill do?

Organizations: Kenyan Locations: Nairobi, Kenya

Photographs and news agency reports showed protesters clashing in the streets of Kenyan capital Nairobi on Tuesday, as the African state passed a controversial finance bill set to raise national taxes. Kenya's Human Rights Commission on Tuesday shared a video of officers shooting at protesters, calling for accountability. At least 50 people were injured by gunfire during the latest demonstrations, Reuters reported, citing a local paramedic outside of the parliament. The news agency further said sections of the parliament building were set on fire, as the compound was stormed. Blood has already been shed in similar protests, after two people died in separate demonstrations held last week, the Associated Press reported.

Organizations: Kenyan, Rights, Reuters, CNBC, Kenyan Police Service, Ministry of Foreign Affairs, Associated Press Locations: Nairobi, Kenya

☆ Judges halt key parts of Biden’s student loan forgiveness, repayment plan — risking relief for millions
▼ + stars: | 2024-06-25 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Two federal judges in Kansas and Missouri have temporarily halted significant parts of President Joe Biden's new student loan repayment plan, putting debt relief for millions of Americans in jeopardy. The Monday evening rulings stop the U.S. Department of Education from implementing major provisions of the Saving on a Valuable Education, or SAVE, plan. Until the cases are decided, the Biden administration is prevented from forgiving any more debt under the new income-driven repayment plan and from further reducing borrowers' payments in July, as it planned to. More than 8 million borrowers have enrolled in the SAVE plan since it launched in August. "The Department of Justice will continue to vigorously defend the SAVE Plan," he added.

Persons: Joe Biden's, Biden, Mark Kantrowitz, Education Miguel Cardona, " Cardona Organizations: U.S . Department of Education, Valuable Education, Finance, Republican, Education, Higher, Department, Justice, SAVE Locations: Kansas, Missouri

☆ Saudi Arabia may be forced to reassess megaprojects like Neom
▼ + stars: | 2024-06-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Kingdom's Vision 2030 plans feature several massive construction projects, including the futuristic megacity Neom and an entertainment project on the outskirts of Riyadh. Amine Mati, an assistant director at the IMF and its mission chief for Saudi Arabia, told The FT that Saudi authorities were "recalibrating" to assess whether some spending should be delayed. In public, Saudi has largely been keen to insist that the megaprojects, especially Neom, are on track. Experts previously told BI that Saudi Arabia was struggling to attract the foreign investment needed for the development. Representatives for Neom did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Mohammed Al, Jadaan, Prince Mohammed bin Salman, Neom Organizations: Service, Business, BBC, Saudi, IMF, FT, Public Investment Fund, CNBC Locations: Saudi Arabia, Riyadh

☆ Live Updates: Casualties Reported as Police Fire on Protesters in Kenya
▼ + stars: | 2024-06-25 | by ( Abdi Latif Dahir | ) www.nytimes.com time to read: +7 min

The police used live fire and tear gas on protesters who marched on the Parliament building in an attempt to stop a vote on a contentious finance bill. The police used tear gas in an attempt to keep the protesters from approaching Parliament, and the sound of live fire rang out. Before Tuesday’s demonstration, several activists who are prominent critics of the bill were abducted, according to the Law Society of Kenya. But protesters have denounced other taxes, including on imported goods, and have urged the government to abandon the draft legislation. Image President William Ruto promised to be a champion of the poor, but critics say his administration has been marred by extravagant spending.

Persons: Faith Odhiambo, Odhiambo, Martha Koome, ”, Kasmuel McOure, William Ruto, Urs Flueeler, Ruto, Instagram, Mike, “, Kimani Ichung’wah, It’s, Anita Barasa, McOure, Mr Organizations: Amnesty International, Law Society of Kenya, Mr, Kenyan, Observers, KFC, Protesters Locations: Nairobi, Kenya, East, reneging, ”

☆ Obama’s Half Sister Is Among Those Tear-Gassed During Protests in Kenya
▼ + stars: | 2024-06-25 | by ( Abdi Latif Dahir | More About Abdi Latif Dahir | ) www.nytimes.com time to read: +1 min

Auma Obama, an older half sister of former President Barack Obama, was tear-gassed on Tuesday while being interviewed live on CNN during protests in Nairobi, the Kenyan capital. The protests were against the passage of a finance bill that raises taxes on many basic goods. They are demonstrating with flags and banners.”Ms. Obama then began choking in a spreading cloud of tear gas lobbed by the police. “We are being tear-gassed.”Ms. Obama grew up in Kenya and returned there as a community activist after studying and living in Germany and the United Kingdom. Her foundation in Kenya, Sauti Kuu, or Powerful Voices, serves children and young people, particularly from urban slums and rural communities.

Persons: Auma Obama, Barack Obama, Obama, “, ”, “ Young, Ms, Sauti Organizations: CNN, Kenyan Locations: Nairobi, Kenya, Germany, United Kingdom

☆ Kenya Explodes in Violence as Protesters Breach the Parliament Building
▼ + stars: | 2024-06-25 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

Kenya exploded in violence on Tuesday as demonstrators clashed with police officers in the streets and stormed the national Parliament building after lawmakers passed a bill to increase taxes. Columns of thick smoke poured out of the Parliament compound. Protesters furious about tax hikes included in the finance bill hurled rocks and blocked roads. The protests paralyzed Kenya’s capital, Nairobi, and images of demonstrators swarming the Parliament and getting inside the gated compound shocked the nation. More than 30 protesters were hurt and at least five were killed, according to several civic groups.

Locations: Kenya, Nairobi, Nakuru, Mombasa, Eldoret

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