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AdvertisementAs the way we save for retirement has evolved, some people are now cashing in on the golden age for retirement savings — when benefits were more generous and investments in real estate and stocks boomed. While it's still possible to achieve, a fat retirement account has become rarer. AdvertisementBack in 2007, per GAO's calculations of the Survey of Consumer Finances, around 21% of low-income households had a retirement account balance. While losses weren't as profound for those in the middle-income quintile, their retirement account balances did fall slightly from 2007 to 2019. All of that comes as retirement savings become more of an individual onus.
Persons: , Michael, Connie, didn't, frugality, it's, would've, David John, that's, John, Valerie, who's, Valerie —, hinging, she's Organizations: Service, Navy, Business, Social Security, Survey, Consumer Finances, GAO, AARP, Security, BI Locations: Florida, Denver, Oregon, Seattle
Expensive fuel, maintenance, and labor don't help, nor do unpredictable setbacks outside the airline's control, like pandemic travel bans and production slowdowns at planemaker Boeing. But across the industry, many airlines are struggling to turn profits thanks to issues like overcapacity, unrelenting competition, and unexpectedly high costs, according to experts. Boeing delivery delays have eaten into profitsHarteveldt said Boeing's ongoing delivery delays have cost airlines like American, Southwest, and United millions of dollars. Airlines are plagued by high costs in an extremely competitive industryNearly everything is more expensive than it was before the pandemic, and airlines are no exception. For low-cost carriers like Frontier and Spirit, these high costs make it challenging to make money, Kraemer said.
Persons: , Henry Harteveldt, Scott Olson, Robert Isom, Bob Jordan, Harry Kraemer, Kraemer, You've, you've, Harteveldt, Joe Raedle, they've, Stephen Brashear, Eric Glenn, Shutterstock Harteveldt Organizations: Service, planemaker Boeing, Business, International Air Transport Association, , Airlines, Getty, Reuters, Southwest, Elliott Investment Management, Baxter International, Corporations, Google, Spirit, Frontier, Boeing, JetBlue Airways, Airbus, Bureau of Labor Statistics Locations: Delta, United
'A useful disguise' for the HouthisBetween December and March, Houthi attacks damaged at least 19 commercial ships, according to a June 13 report published by the Defense Intelligence Agency. US Central Command via AP, FileThe following weeks saw a decrease in the pace of successful Houthi attacks. AdvertisementYemen's Houthi group released a video showing an explosive-laden drone boat target a commercial vessel earlier this month. AdvertisementDouble taps and drone boatsBeyond the recent double-tap strikes, the Houthis' ability to learn from past attacks is visible in their drone boat operations. In this photo released by the French military, the MV Tutor sinks in the Red Sea after it was struck by a Houthi drone boat.
Persons: , Archer Macy, Behshad, Houthis, Brian Carter, Ambrey, Carter, they're, des, they'll, Macy, they've, Alex Stark, John Kirby, Kirby, Yemen —, Dwight D, Theodore Roosevelt Carrier, Stark Organizations: Service, Business, US Navy, Defense Intelligence Agency, US military's Central Command, US, Command, AP, Military Times, American Enterprise, Houthi Media, Getty, des Armées, AP Experts, Center for Strategic, Studies ' Missile Defense, RAND Corporation, National Security, Eisenhower, Eisenhower Carrier Strike, Theodore Roosevelt Carrier Strike Group Locations: Gulf of Aden, Iran, Iranian, Yemen, Tehran, Israel, Gulf, Aden, Ukraine, Russian, Red, France, Sanaa
“Acting swiftly, a deputy boarded the vessel and applied a tourniquet to stop the bleeding,” the sheriff’s office said. While he is in critical condition, he is expected to recover, the sheriff’s office said. “Yet shark bites still remain very rare,” the commission said. “Experts believe that most shark bites are cases of mistaken identity, which explains why nearly all shark bites that occur in Florida waters are of a bite-and-release nature,” the commission said. While the risk of being bitten by a shark is extremely low, Florida tops global charts for the number of shark bites, according to the Florida Museum of Natural History’s annual shark attack report.
Persons: , Dee Dee Organizations: CNN, Nassau County Sheriff’s, Marine Unit, Florida Fish and Wildlife Conservation Commission, , Florida Museum, Natural, Florida - Locations: Nassau County, Dee Dee Bartels, Fernandina, Walton County , Florida, Florida, United States, Volusia County, Brevard, St, Lucie, Miami, Dade, Palm Beach, Escambia, Pinellas, Florida’s, Florida - Georgia
Basic income programs are the next victim, now on Fox. "Universal Basic Guys" stars a pair of brothers who join a $3,000-a-month basic income program after the hot dog factory where they work becomes automated. A universal basic income is often cited as a potential solution to the likely job losses created by artificial intelligence. A universal basic income would give monthly no-strings-attached cash payments to everyone, regardless of their financial status. While more cities are experimenting with basic income programs, they have also been the target of conservative ire.
Persons: , Fox, Mark, Hank Hoagies, Andrew Yang, Hank, Mark Hoagies, Homer Simpson, Bob of, Michael Thorn, Adam, Craig Malamut Organizations: Service, Fox, Business, Fox Entertainment, Sony Pictures Television, Sony, NBA, Sony Pictures Television Studios Locations: United States, Iowa
Inflation slowed last month according to the Federal Reserve's preferred measure, which means mortgage rates could soon trend down. As inflation slows and the Fed is able to start lowering the federal funds rate, mortgage rates are expected to decrease. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. As inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.
Persons: Fannie Mae Organizations: Federal, Commerce Department, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: April's, Chevron
Your Boss Will Freeze Your Eggs Now
  + stars: | 2024-06-29 | by ( Emma Goldberg | ) www.nytimes.com   time to read: +1 min
Spring Fertility, a clinic in Midtown Manhattan, looks like the place where the main characters on “Broad City” would have wound up if the millennial sitcom had done an episode about egg freezing. The waiting room has books by America’s youth poet laureate Amanda Gorman and its Instagram poet laureate Rupi Kaur. A conference room also serves as a venue for “shots nights,” less raucous than they sound, where patients inject themselves with fertility drugs communally, with encouragement from staff. The room, Dr. Fischer noted, “looks like a Grey’s Anatomy O.R.”There is always a market for products, from skin care to weight loss, promising to ease the angst of womanhood. The business of egg extraction is thriving, among the privileged group of people who can access it.
Persons: Amanda Gorman, Rupi Kaur, Catha Fischer, Fischer Locations: Midtown Manhattan, Broad, New York
For the ATRFX fund, this means betting on currencies, equities, commodities, and bonds, but not in a direct way. Instead, it employs everything from arbitrage strategies, riding out momentum and interest rates, or sitting on the sidelines when it's choppy. Over the last couple of years, higher interest rates have brought in some good yields. Related storiesOne step further is to arbitrage interest rates across currencies. Investors can do this by identifying national currencies with low interest rates, borrowing in that currency, and then lending in the currencies with higher interest rates.
Persons: David Miller, ATRFX, Miller, It's, that's, Yen, it's Organizations: Service, Systematic Alpha Fund, Business, Catalyst Capital Advisors, BNP Paribas, BNP, Commodities Commodities, Bloomberg, Federal Reserve
Dollar barges past 161 yen and eyes quarterly rise
  + stars: | 2024-06-28 | by ( ) www.cnbc.com   time to read: +2 min
The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial U.S. inflation reading. At 172.37 per euro it traded at a lifetime low on the common currency as yen bears test authorities' resolve. The New Zealand dollar dipped 0.3% to $0.6065 on Friday, but was up 1.5% for the quarter. The U.S. dollar index was 0.2% stronger at 106.07 on Friday for a 1.5% quarterly rise.
Persons: Ray Attrill, Donald Trump, Joe Biden, Biden, NAB's Attrill Organizations: Republican, Democratic, New Zealand, U.S, Federal Locations: Asia, Tokyo, Australia, Sydney, Atlanta, U.S
Now 43, Hintenberger said that transitioning to a vegan diet more than a decade ago helped her manage chronic illnesses like irritable bowel syndrome (IBS) and polycystic ovary syndrome (PCOS). AdvertisementQuitting fad diets helped her lose weight and boost her performanceEarlier in her life, Hintenberger struggled with food addiction and binge eating. Focusing on meeting her nutritional needs and switching to a plant-based diet eventually helped her lose more than 70 pounds. When I finally stopped eating to lose weight, I lost weight," Hintenberger said. Hintenberger said eating a plant-based diet has helped her recover more quickly from exercise, and continue gaining strength so she can stay at the top of her sport.
Persons: , Jennifer Hintenberger, Hintenberger, Hintenberg, I'm Organizations: Service, Business
Shadow AI, or the unsanctioned use of technologies such as GenAI, has emerged as a critical threat for organizations trying to secure corporate IP and data. For organizations getting started with GenAI, it's important to understand why shadow AI is dangerous to best identify how to address it. Why shadow AI presents a credible threatMicrosoft and LinkedIn report1 that 78% of employees are "bringing their own AI technologies to work," (BYOAI) a softer way of describing shadow AI. Shadow IT and shadow AI share the same low barrier to entry and platform dynamics. Dell Technologies is a leader in the growing open ecosystem that is helping organizations build, test, and deploy GenAI services.
Persons: Clint Boulton, ESG, RAG Organizations: Microsoft, LinkedIn, Research, Enterprise Strategy Group, Amazon Web, Dell Technologies, Dell, Insider Studios
CNN —The Supreme Court ruled Friday in favor of an Oregon city that ticketed homeless people for sleeping outside, rejecting arguments that such “anti-camping” ordinances violate the Constitution’s ban on “cruel and unusual” punishment. The case centered on “anti-camping” ordinances in Grants Pass, Oregon, that were challenged by several residents experiencing homelessness. “For some people, sleeping outside is their only option.” The city, she said, “punishes them for being homeless. The ordinances barred people from sleeping in public with “bedding,” which can include sleeping bags or bundled-up clothing. In reaction to the Supreme Court’s ruling, housing rights groups came out in full force to condemn the decision.
Persons: Neil Gorsuch, It’s, ” Gorsuch, Gorsuch, , Sonia Sotomayor, ” Sotomayor, , Sotomayor, Theane Evangelis, Elena Kagan, Jesse Rabinowitz, ” Gavin Newsom –, California –, Jay Cheng Organizations: CNN, , US Department of Housing, Urban, National Homelessness Law, National Alliance, Homelessness, Democratic Locations: Oregon, Grants Pass , Oregon, United States, California, Francisco
“It’s kind of a DEFCON 1 moment,” David Plouffe, former President Barack Obama’s campaign manager, told MSNBC star Rachel Maddow following the debate. The people who were texting with me were very concerned about President Biden seeming extremely feeble, seeming extremely weak,” Reid said. And while MSNBC’s hosts pointed to the flood of lies from Trump during Thursday night’s debate, the conversation continually returned to Biden’s performance. “President Biden is a good man who capped a long career in public service with a successful presidential term. “Predictably, Biden’s poor performance led to some chatter about his stepping down and letting someone else be the nominee.
Persons: CNN —, Alex Wagner, ” Wagner, Donald Trump, Joe Biden, Joe Biden’s, Trump, ” David Plouffe, Barack Obama’s, Rachel Maddow, Joy Reid, Biden, , ” Reid, , Nicolle Wallace, ” Wallace, Chris Hayes, Nicholas Kristof, “ Joe Biden, , ” David Corn, Mother Jones, ” Mehdi Hasan, ” Hasan, Symone Sanders Organizations: CNN, MSNBC, Democratic, Fox News, Republican, Trump, ” New York Times, Biden Locations: Atlanta, America
What exactly are "Black jobs" — and are they really at risk from the recent surge of immigrants? "They're taking Black jobs, and they're taking Hispanic jobs, and you haven't seen it yet, but you're going to see something that's going to be the worst in our history." It's true that Black workers have historically been overrepresented in certain sectors like government and home health care. When it comes to pay, inflation-adjusted weekly earnings for Black workers reached a two-decade high of $314 under Trump. But amid persistent inflation and a cooling job market, Black workers' average weekly earnings declined in the most recent quarter to $293.
Persons: Donald Trump, Joe Biden, Derrick Johnson, Johnson, Trump, , Clinton, Keisha Lance Bottoms, Cherron Perry, Thomas, Biden, haven't, Seth Anderson Organizations: Republican, NAACP, NBC, Black, Americans, Biden, Trump, U.S, Former Atlanta, NBC News, Labor Statistics, Economic Policy Institute Locations: Atlanta , Georgia, U.S, U.S ., Pennsylvania
Iranians will go to the polls against the backdrop of a battered economy, widespread popular discontent and harsh crackdowns on dissent. Iran is also dealing with high inflation, heavy Western sanctions, mounting tensions with the U.S., ramped-up Iranian nuclear enrichment and the Israel-Hamas war. On issues of foreign policy and war, the Iranian president wields some influence and is the country's public-facing messenger. But power and critical decision-making in Iran ultimately lies with the supreme leader, Ayatollah Khamenei, and unelected institutions like the Revolutionary Guards. Iran's Supreme Leader Ayatollah Ali Khamenei speaks with media after casting his ballot during the Iranian Parliamentary and Assembly of Experts elections at the Leadership office in Tehran, Iran, on March 1, 2024.
Persons: ATTA KENARE, Ebrahim Raisi, , Iran's, Ali Vaez, Rafat, Mohammad Bagher Qalibaf, Saeed Jalili, Masoud Pezeshkian, Amirhossein Ghazizadeh Hashemi, Alireza Zakani, Qalibaf, Jalili, Ayatollah Ali Khamenei, Masoud, Pezeshkian, Mostafa Pourmohammadi, Pourmohammadi, Ayatollah Khamenei, Morteza Nikoubazl Organizations: Western, U.S, Guardian Council, Council, Islamic Revolutionary Guard Corps, Supreme National Security Council, Islamic Consultative Assembly, Revolutionary, Iran's Ministry of Intelligence, House, Revolutionary Guards, Iran's, Iranian Parliamentary Locations: Tehran, AFP Iran, Iran, Israel, Iranian, Iran's, Washington
The world seems to agree: Biden's debate performance was terrible. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe world is reacting to Thursday's debate, and one thing is clear: US allies are, at best, collectively face-palming at Biden's performance. The first presidential debate of the 2024 race was a meandering mess for both Trump and Biden, but one consensus emerged: Biden's performance was a bigger disaster. This story is available exclusively to Business Insider subscribers.
Persons: Biden, Organizations: Media, Service, Trump, Business Locations: Italy, Poland, Germany
Read previewNobel Prize-winning economist Joseph Stiglitz told Business Insider the US economy is "remarkably strong." "I think general consensus, not just my view, but almost anybody modeling what is going on would say the Trump administration would be more inflationary," Stiglitz told BI. AdvertisementStiglitz noted Trump's promise of large increases in tariffs as one of the things that could make inflation worse. AdvertisementA third factor that could juice inflation would be the "drastic reductions in immigration" that Trump has proposed, Stiglitz said. Outside of the risks to inflation, Stiglitz said a Trump presidency could also mean a slowing GDP.
Persons: , Joseph Stiglitz, Stiglitz, Trump, Axios, Joe Biden, Trump's, Karoline Leavitt Organizations: Service, Democratic, Republican, Business, Trump, U.S, Republicans, CNN Locations: U.S
While healthcare and food constitute the majority of pet owner expenses, a new trend has emerged: dedicated pet wash stations. Related storiesDepending on the level of luxury, pet wash stations can cost homeowners between $400 and $2,000 to DIY, according to home-maintenance site The Spruce. The materials that will be used in a pet shower being developed by Highland Homes. Therefore, it's not surprising that many are enhancing their appeal by incorporating tailored features like pet wash stations into their builds. AdvertisementA dog spa in a Highland Homes property.
Persons: , Sanju, Surtani, We've, that's, DINKWAD, homebuilders, it's Organizations: Service, Business, Highland Homes, National Association of Real Estate, Homes, American Pet Products Association, Highland Locations: Highland, Highland Homes
U.S. President Joe Biden attends the first presidential debate hosted by CNN in Atlanta, Georgia, U.S., June 27, 2024. Schumer was worried before the debate that Biden and Trump were in statistical tie nationally, despite the Republican challenger's conviction in his New York criminal hush money trial. "We've got to get out the vote for Joe Biden, Kamala Harris, and a Democratic Senate and House!" "Vice President Harris is a risky choice, but certainly has the visibility and is the logical choice," said Bose. Biden has won nearly all of the roughly 4,000 Democratic pledged delegates, far exceeding the threshold to make him the party nominee.
Persons: Joe Biden, Marco Bello, Joe Biden's, , Donald Trump, Biden, Chuck Schumer, Saul Loeb, Schumer, Trump, We've, Kamala Harris, Meena Bose, Peter S, Bose, Anna Moneymaker, Harris, Gavin Newsom, Ohio Sen, Sherrod Brown, J.B . Pritzker, Marco Bello Marco Bello Organizations: CNN, Democratic, Trump, Senate Democratic, Capitol, AFP, Getty, Republican, CNBC, Kalikow, American, Hofstra University, U.S, Democratic National Convention, Biden, California Gov, Illinois Gov, California, REUTERS Locations: Atlanta , Georgia, U.S, Washington , DC, New York, Long, California, Ohio, Illinois
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But the recent success of Glossier's "You" perfume — which isn't new, but has been introduced to a new Gen Z audience thanks to a viral TikTok — is helping pull the brand back to life. The TikTok wasn't part of some big plan of Glossier to get back into the graces of the younger crowd. Related storiesA single viral TikTok, in theory, might fade away, but Glossier reacted to the successful viral moment among Gen Z buyers. AdvertisementFor the record, as a dutiful millennial woman, I own and enjoy several Glossier products (I personally love their mascara).
Persons: , Glossier, Kyle Leahy, Mack, TikTok, Emily Weiss, Marisa Meltzer Organizations: Service, Business, Bloomberg Locations: Sephora
The economy is already in a "selective recession," according to JPMorgan's Matthew Boss. The top 10% of American earners have gained more than $30 trillion in wealth since 2020, Fed data shows. AdvertisementThe US economy is being split by a "selective recession," as some consumers see "huge" wealth creation while others struggle to get by, according to JPMorgan analyst Matthew Boss. The equity analyst pointed to the divide between low-income and high-income consumers. High-income consumers are thriving, evidenced by the $40 trillion worth of spending they're driving into the economy, which is around half of all consumer spending in the US, Boss estimated.
Persons: JPMorgan's Matthew Boss, , Matthew Boss Organizations: Service
Shares of Microsoft registered a 14-day RSI reading of 74. MSFT YTD mountain MSFT YTD Shares of Eli Lilly are also overbought, with a 14-day RSI of 83, putting the drug manufacturer at the top of the list. FedEx is also overbought, with a 14-day RSI of 77. Among the oversold names, Walgreens Boots Alliance and Waters Corporation top the list with a 14-day RSI reading of 20, followed by Pool Corp . with an RSI reading of 22.
Persons: Friday's, Wall, Eli Lilly, Eli Lilly's Organizations: Dow Jones, Nasdaq, Nvidia, Microsoft, CNBC Pro, Union, FedEx, Walgreens Boots Alliance, Waters Corporation, Pool Corp, Walgreens
May marked the lowest annual rate since March 2021, which was the first time in this economic cycle that inflation topped the Federal Reserve's 2% target. An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. Including food and energy, headline inflation was flat on the month and also up 2.6% on an annual basis. Outside of the inflation numbers, the Bureau of Economic Analysis report showed that personal income rose 0.5% on the month, stronger than the 0.4% estimate. Shelter-related costs have proven stickier than Fed officials have anticipated and have helped keep the central bank from reducing interest rates as expected this year.
Persons: Dow Jones, Seema Shah Organizations: Dow, Commerce Department, Federal, Asset Management, Gross, Atlanta Fed Locations: PCE
The latest closures are part of a larger downturn, not just for Walgreens, but for other drug store chains, too, after years of expansion. Shifting trendsDrug store chains are struggling because of falling reimbursement rates for prescription drugs, according to analysts who cover the industry. But their profits from that business have dropped in recent years because of lower reimbursement rates for prescription drugs and higher fees. Dollar General’s growth has also hurt drug store chains in rural areas. When pharmacies close, some patients have to travel farther to get the medications they need.
Persons: Walgreens, Tim Wentworth, , ” Wentworth, Elizabeth Anderson, PBMs, ” Anderson, VIllageMD Organizations: New, New York CNN, Walgreens, Wall Street, CVS, IRI, Amazon, Walmart, Costco, American Medical Association Locations: New York, United States, VillageMD
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Of the 14,450 millionaire businesses in this sector, 874 have revenues over $2.5 million. Millionaire businesses make up 0.38% of all one-person businesses in this sector. Millionaire businesses in construction made up 0.24% of total one-person construction businesses. On the flip side, utilities, mining, and manufacturing ranked lowest for millionaire businesses.
Persons: , Nick Huber Organizations: Service, Census Bureau, Business, Census, Finance
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