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☆ Temu accused of data risks after sister app was suspended for malware
▼ + stars: | 2023-05-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +7 min

Stefani Reynolds | Afp | Getty ImagesThe U.S. has accused discount shopping site Temu of possible data risks after its Chinese sister app was pulled from Google's app store over "malware" — but analysts say they're not that worried. Google called it an "identified malicious app" and urged users to uninstall the Pinduoduo app, but the Chinese online retailer denied those claims. Kevin Reed chief information security officer, Acronis"There should be no need for biometric data to be stored on an e-commerce website or app. Data risksIn a report on Chinese "fast fashion" platforms published in April, the U.S.-China Economic and Security Review Commission accused Temu and Shein of posing possible data risks. Shein and Temu "primarily rely on U.S. consumers downloading and using Chinese apps to curate and deliver products," said the report.

☆ Jim Cramer: Home Depot's miss shouldn't surprise anyone — it could be much worse
▼ + stars: | 2023-05-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ IRS Weighs Creating a Government-Run Tax-Prep Option
▼ + stars: | 2023-05-15 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Companies worry about a scenario in which the IRS creates first drafts of taxpayers’ returns. Photo: stefani reynolds/Agence France-Presse/Getty ImagesWASHINGTON—The Biden administration is considering creating a government-run alternative to TurboTax and H&R Block , drawing resistance from Republicans and companies fearing a loss of business. Democrats and consumer advocates have been pushing for the Internal Revenue Service to offer free online tax filing on its website, particularly for people with straightforward returns. Their core argument: Tax-preparation companies charge middle-income Americans for what advocates think should be a free public service.

☆ Covid caused huge shortages in the jobs market. It may be easing — but there's another problem ahead
▼ + stars: | 2023-05-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Data aggregated by Charles Schwab showed that in U.S. corporate earnings since the start of this year, phrases relating to workforce reductions began to exceed those relating to labor shortages for the first time since mid-2021. 'From shortages to gluts' Kleintop also cited tighter lending conditions as contributing to a weaker jobs outlook, pointing to a "clear and intuitive leading relationship between banks' lending standards and job growth." "Modest growth in labor supply will also ease shortages, driven by higher participation rates from younger worker cohorts and fading pandemic-related frictions," Moody's strategists said. watch nowServices job growth has been a key factor behind labor market resilience in the face of global economic weakness over the past year, as a result of a post-pandemic surge in demand. Based on estimates of labor supply lost to aging since the Covid pandemic, Moody's believes the coming drag will be "significant."

☆ These 7 Club holdings are using pricing power to boost profits this earnings season
▼ + stars: | 2023-04-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

Pricing power is what's allowing many companies — including seven of our Club holdings — to support revenue growth and enhance, or at the very least protect, profitability during an earnings season marked by a still-elevated inflationary environment. When we're talking about "pricing power," it's the ability of companies with strong brands to raise prices without seeing too much impact on demand. Here's a list of Club holdings with pricing power, starting with a closer look at P & G. PG YTD mountain Procter & Gamble's stock performance year to date. LIN YTD mountain Linde's stock performance year to date. Halliburton has exhibited strong pricing power due to massive demand from global end markets, benefitting from years of under-investment in drilling.

☆ Janet Yellen to Say Security Comes Before Economy in U.S.-China Relationship
▼ + stars: | 2023-04-20 | by ( Andrew Duehren | ) www.wsj.com time to read: 1 min

Treasury Secretary Janet Yellen said in prepared excerpts that the U.S. will remain the world’s dominant economic power. Photo: Stefani Reynolds/Agence France-Presse/Getty ImagesWASHINGTON—Treasury Secretary Janet Yellen plans to say Thursday that the U.S.’s policies toward China will give priority to addressing national-security concerns over preserving economic growth. In prepared excerpts of a speech she will give, Ms. Yellen listed three goals for the U.S. relationship with China: protecting human rights and national security, establishing healthy economic ties and cooperating on major global issues. She criticized subsidies the Chinese government offers to its industries and said the U.S. will remain the world’s dominant economic power.

☆ Judge delays hearing for accused US intel leaker Jack Teixeira because his defense says it needs 'more time'
▼ + stars: | 2023-04-19 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

A 21-year-old charged with leaking secret US military documents had his detention hearing delayed. Jack Teixeira, a Massachusetts Air National Guardsman, appeared briefly in federal court Wednesday. A judge had granted a motion to delay the detention hearing because the defense needs more time. But earlier on Wednesday, Hennessy granted a request by attorneys to delay Teixeira's detention hearing by around two weeks. Jack Teixeira, 21, has been charged in connection with the leak of secret Pentagon documents.

☆ Italy became the first Western country to ban ChatGPT. Here's what other countries are doing
▼ + stars: | 2023-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Stefani Reynolds | AFP | Getty ImagesItaly has become the first country in the West to ban ChatGPT, the popular artificial intelligence chatbot from U.S. startup OpenAI. watch nowVarious regulators are concerned by the challenges AI poses for job security, data privacy, and equality. "It's more, if you're using AI, these are the principles you should be thinking about," Holmes told CNBC. Ireland is typically the most active regulator when it comes to data privacy since most U.S. tech giants like Meta and Google have their offices there. The U.S. hasn't yet proposed any formal rules to bring oversight to AI technology.

☆ TikTokers are dropping buckets on the heads of unsuspecting shoppers – but the viral prank took a dangerous turn at a California Target
▼ + stars: | 2023-03-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

A TikTok trend took a dangerous turn at a California Target store. One mother was a recent victim of the prank while she was at a Target in Tustin, California. Clay-Monaghan told Insider the object was more like a cloth-lined laundry hamper, which got stuck when she struggled to take it off, causing her to panic. The rapidly changing lighting and panicked breathing were a recipe for triggering her epilepsy, Clay-Monaghan told Insider. Clay-Monaghan told Insider she and her family are waiting for identification of the boys who attacked her, and that she is still suffering from shock and neurological side effects.

☆ The IRS plans to tax some NFTs as collectibles — and the rich would pay up to 28% on profits
▼ + stars: | 2023-03-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Noam Galai | Getty Images Entertainment | Getty ImagesHow the IRS plans to tax NFTsNFT enthusiasm swelled in recent years along with the popularity of cryptocurrencies such as bitcoin . An NFT offering a right to use or develop that virtual plot also generally isn't a collectible, the IRS said. Profit on those sales is taxed at ordinary income tax rates, which apply to wages, for example. (There are seven marginal tax rates, ranging from 10% up to 37%.) These tax rates are generally lower than ordinary income tax rates.

☆ Food is getting cheaper. But not for you
▼ + stars: | 2023-03-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

When food producers started raising prices a few years ago, they blamed their own costs, including higher ingredient prices. Many food companies are forecasting that they might slow down or pause price increases — but not lower them. But ingredients typically make up a small portion of overall food costs. Companies are maintaining elevated prices, or continuing to increase them, at a time when many Americans are already struggling to pay for food, especially as pandemic-era food stamp benefits expire. So people keep buying food at the grocery store, despite higher prices — giving producers an opportunity to convince retailers that those higher prices won’t drive customers away.

☆ A year later, the Fed still has a long way to go in the fight against inflation
▼ + stars: | 2023-03-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

The rate hikes appeared to have quelled some of the inflation surge that inspired the policy tightening. Indeed, Fed officials for months stuck to the narrative that inflation was "transitory" and would abate on its own. Fed Chairman Jerome Powell recently insisted that he and his colleagues are taking "forceful steps" now to bring down inflation. The index most recently showed an annual inflation rate of 6.4%, down from a peak around 9% in the summer of 2022. Citigroup economist Andrew Hollenhorst thinks the Fed could tame key inflation metrics to around 4% by the end of this year.

☆ As new data shows inflation rose in January, here's what consumers can expect next
▼ + stars: | 2023-02-24 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

While the inflation rate is poised to subside this year, "it will not be a straight line," Raymond James chief economist Eugenio Aleman told CNBC.com at the time. The Federal Reserve is tasked with getting inflation under control, while trying to avoid a deep economic recession. What the latest inflation measure showsThe personal consumption expenditures price index, or PCEPI, is the central bank's preferred measure as it seeks to bring inflation down to a 2% target. Based on Friday's data, it's "almost a certainty" the central bank will raise rates by 25 basis points in March, and maybe even higher, Luther said. A period of below 2% inflation would be needed to see prices subside back to where they were, Luther said.

It is the US who is in fact the number one country in terms of surveillance, whose high-altitude balloons illegally flew over China multiple times. Chinese foreign ministry: Wang Yi stressed that on the Ukraine issue, China stands by principles. China is committed to promoting peace talks and has played a constructive role. Chinese foreign ministry: Wang Yi pointed out that to preserve stability across the Taiwan Strait, one must firmly oppose "Taiwan independence" and uphold the one-China principle. On the Taiwan question, the US side should respect historical facts, honor its political commitments and follow through on its statement of "not supporting Taiwan independence".

☆ Live updates: Supreme Court hears Gonzalez v. Google case against Big Tech
▼ + stars: | 2023-02-21 | by ( Brian Fung | Tierney Sneed | ) edition.cnn.com time to read: +4 min

The US Supreme Court is seen in Washington, DC, on January 19. (Stefani Reynolds/AFP/Getty Images)The Supreme Court is set to hear back-to-back oral arguments Tuesday and Wednesday on two cases that could significantly reshape online speech and content moderation. First up Tuesday is the Gonzalez v. Google case. The case involving Google zeroes in on whether it can be sued because of its subsidiary YouTube’s algorithmic promotion of terrorist videos on its platform. Beatrice Gonzalez and Jose Hernandez, the mother and stepfather of Nohemi Gonzalez, who was fatally shot and killed in a 2015 rampage by Islamist militants in Paris, are seen outside the U.S. Supreme Court in Washington, on February 16.

☆ Who is Shou Zi Chew? Mounting scrutiny on TikTok could put new spotlight on its CEO
▼ + stars: | 2023-01-20 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

Months later, when TikTok was grilled by Congress over privacy and security concerns, Pappas was the TikTok executive in the hot seat fielding questions. But Chew, who took over as TikTok CEO in April 2021, has largely stayed out of the spotlight at a time when the app he leads can’t seem to avoid it. He eventually went on to become the CFO of Chinese tech giant Xiaomi, which he helped take public in 2018. While Chew is not a Chinese national, Quint noted Chinese tech companies and leaders that have drawn too much attention to themselves have faced tough government crackdowns. Ultimately, Quint said, “I don’t think the CEO of TikTok has much relevance at all” for US lawmakers scrutinizing its ties to China.

The debate comes less than two months after Twitter restored Trump’s account, but Meta’s intention to reevaluate the decision predates Twitter’s reversal. “I can’t think of what that rigorous standard would be that would make this policy be applied fairly, not just to former President Trump, but to any politician.”Is Trump bound to Truth Social? A phone screen displays the Truth Social app in Washington, DC, on February 21, 2022. Trump now has his own rival social media platform, Truth Social, which he launched in February. Despite his desire for a bigger megaphone and aides encouraging him to rejoin Twitter, Trump has said he is committed to Truth Social.

☆ How Anti-Abortion Activists Bought Access to the Supreme Court
▼ + stars: | 2023-01-07 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +29 min

In exchange for as little as a few thousand dollars in contributions to the nonprofit, these people received easy access to events where Supreme Court justices would be. Supreme Court Historical society trustee Jay Sekulow, center, represented President Trump during the latter's impeachment trial in 2020. Anti-abortion advocates cheer in front of the Supreme Court after the decision in Burwell v. Hobby Lobby Stores was announced in 2014. Alito did not respond to a request for comment on his involvement in the Supreme Court Historical Society. Supreme Court justices, though, aren't even required to stay within those weak guardrails because no code of ethics governs justices' behavior.

Holiday meals were also more expensive, and food prices outpaced inflation throughout the year. But while some items saw massive double-digit increases in 2022, others were a deal. In the year through November, several major electronics got cheaper: Smartphone prices plunged 23.4%, TV prices dropped 17% and computers got 4.4% less expensive. Elijah Nouvelage/AFP/Getty ImagesIn the year through November, food got 10.6% more expensive, outpacing overall inflation. Food away from home became 8.5% more expensive in 2022, with many restaurants hiking up menu prices in order to mitigate their own higher input costs.

Closely watched state Supreme Court races in which divisive issues such as abortion rights and redistricting fueled political donations and record campaign fundraising ended with mixed results on Election Day. Republican Supreme Court Justice Pat DeWine speaks to supporters at an election watch party on November 8, 2022 in Columbus, Ohio. Andrew Spear / Getty ImagesIn North Carolina, Republicans were victorious, claiming the two open seats on the state Supreme Court and flipping its makeup to a 5-2 Republican majority — clinching power for the first time in six years. The 6th Supreme Court District is comprised of 13 largely Republican-leaning counties, and eight of them rejected the amendment, she added. While the state Legislature is controlled by Republicans, voters may not have been swayed by politics when it came to deciding who sits on the state Supreme Court.

☆ Midterm Elections Are Different This Year. Here’s Why
▼ + stars: | 2022-11-08 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Watch: Lunar Eclipse Visible on U.S. Election Day for First Time For the first time, a total lunar eclipse, also known as a blood moon, was visible to early risers on a U.S. election day. These eclipses happen when the Earth, sun and moon are in perfect alignment. Photo: Stefani Reynolds/AFP/Getty Images

☆ Analysis: 'The Surreal Life' reboot brings together another wild group of celebrity roommates
▼ + stars: | 2022-10-29 | by ( Lisa Respers France | ) edition.cnn.com time to read: +6 min

No judgment if Halloween is your thing, but I don’t like to be scared so I don’t indulge. Three things to watch‘The Surreal Life’The new cast of "The Surreal Life" sit down for dinner -- and some heated conversation -- in a scene from the VH1 show. From VH1/YouTubeI should probably start by mentioning that Dennis Rodman likes to walk around the house in which he filmed the new season of “The Surreal Life” naked. ‘The White Lotus’ Season 2(From left) Will Sharpe, Aubrey Plaza, Meghann Fahy and Theo James in a scene from season 2 of "The White Lotus" on HBO. And not to give too much away, but there’s a cool scene in season two which addresses binge-watch culture.

☆ India says Ukraine conflict trajectory, outlook very concerning
▼ + stars: | 2022-09-22 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

Stefani Reynolds/Pool via REUTERSNEW DELHI, Sept 22 (Reuters) - India told the U.N. Security Council on Thursday that the trajectory of the Ukraine conflict was very concerning and that the outlook was more so, as New Delhi sharpened its calls for peace. As long-term trade and defence partners, India and Russia have sided with each other for years. India has stepped up purchases of oil and coal from Russia since the Ukraine war began in February. loadingPutin ordered Russia's first wartime mobilisation since World War Two on Wednesday and threatened to use nuclear weapons to defend his country. The United States has been trying to wean India off its decades-old heavy reliance on Russia for military equipment.

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