DIRS.INFO The most relevant business & tech news

☆ Opinion | Why Trump Represents a ‘Trifecta of Danger’
▼ + stars: | 2023-11-22 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +3 min

I asked some of those who first warned about the dangers Trump poses what their views are now. At times it seems as if he cannot control himself or his hateful speech. We need to wonder if these are the precursors of a major deterioration in his character defenses. In recent months, Trump has continued to add to the portrait Glass paints of him. At the California Republican Convention on Sept. 29, Trump told the gathering that under his administration shoplifters will be subject to extrajudicial execution: “We will immediately stop all the pillaging and theft.

Persons: Leonard L, Glass, Trump, Hitler, remorseless Trump, ” Trump, Joe Biden, Trump’s, Isaac Arnsdorf, Josh Dawsey, Devlin Barrett, John F, Kelly, William P, Barr, Ty Cobb, Mark, ” Organizations: Harvard Medical School, Democrats, California Republican, Claremont, White, The Washington Post, Justice Department, Joint Chiefs Locations: Waco , Texas, California, Claremont N.H, America, The

☆ The Fed is probably done hiking rates. Cuts are still far off
▼ + stars: | 2023-11-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —The Federal Reserve likely won’t raise interest rates again during its current tightening cycle, thanks to a cooldown in inflation. Interest rates are at a 22-year high after the Fed last March began its punishing pace of hikes in a bid to tame wayward inflation. Traders are now virtually certain that the Fed will hold rates steady at its December policy meeting and won’t hike again this cycle, according to the CME FedWatch Tool. Of course, one month’s data doth not a trend make. Traders are anticipating rate cuts won’t start before next March, and see May as more likely, according to the CME FedWatch Tool.

Persons: ”, Jeffrey Roach, Price, Sharp, Jerome Powell, Yung, Yu Ma, Joseph Brusuelas, Sephora, Parija Kavilanz, Read, Rishi Sunak, Hanna Ziady, “, ” Sunak, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Dow Jones, Nasdaq, “, LPL, Bureau of Labor Statistics, CPI, Research, BMO Wealth Management, Traders, Investors, RSM US, CNN, National Statistics Locations: New York

RICHMOND, Va. (AP) — Virginia's state House will soon have its first Black speaker in its more than 400-year history after the chamber's incoming Democratic majority on Saturday chose Del. Scott was unanimously elected speaker-designee by the House Democratic Caucus, the group said in a news release. The full House of Delegates will vote to officially confirm him on the first day of the 2024 legislative session. “Virginia voters sent a resounding message on Tuesday that they wanted a Commonwealth that moved forward and that is exactly what I intend to do as your next Speaker,” Scott said in a statement. House Republicans were expected to vote Sunday.

Persons: Del, Don Scott, Scott, Virginia, ” Scott, Glenn Youngkin, Youngkin, Richmond —, “, We’re, ”, Youngkin's, Breit, designee, Eileen, Todd Gilbert, Charniele Herring, Alexandria, Kathy Tran, Tran, Terry Kilgore, Gilbert Organizations: —, Democratic, House Democratic Caucus, GOP, U.S . Navy, Portsmouth, Virginia Democrats, Navy, Republicans, Youngkin, Virginia voters, Virginia, Republican, ”, Democrats, American, Pacific, Senate Democratic Locations: RICHMOND, Va, Commonwealth, Tuesday's, Virginia, Texas, Fairfax County

☆ Biden’s ‘Up-Ticket’ Ballot Strategy
▼ + stars: | 2023-11-10 | by ( Susan Milligan | Lauren Camera | ) www.usnews.com time to read: +9 min

Is the 80-year-old Biden (who turns 81 on Nov. 20) uniquely vulnerable because of his age and other issues? We'll get you copies of all those other polls," Biden said as he prepared to leave for a speech before United Auto Workers in Illinois. A lot of Biden's policies are toxic," O'Connell adds, ticking off the border and inflation along with the president's age. Democrats, meanwhile, believe they can benefit not just from the abortion issue but discontent toward Trump, whose favorability numbers with the general electorate are on par with Biden's . With stubbornly low approval ratings a year out from the election, Biden will need all the help he can get.

Persons: Joe Biden, –, Biden, ”, Jason Cabel Roe, Roe, Cook, Jessica Taylor, Donald Trump, I'm, We'll, Barack Obama, David Axelrod –, Julie Chavez Rodriguez, Kamala Harris, Andy Beshear, Daniel Cameron's, Beshear, A’shanti Gholar, Glenn Youngkin, Youngkin, Sen, Tim Kaine, “, Trump, Wade, Mike Johnson, Johnson, Nikki Haley, Tim Scott of, Ron DeSantis, Chris Christie, Vivek Ramaswamy, Haley, Ford O'Connell, O'Connell, State Jena Griswold, Gholar Organizations: Democratic, Republicans, Democratic Party, Michigan Republican Party, Kentucky, New York Times, Siena, CNN, United Auto Workers, Biden, Jackson, Health Organization, Kentucky GOP, Bluegrass State, GOP, Republican, Supreme, Louisiana Republican, Democrats, South Carolina Gov, Florida Gov, New, New Jersey Gov, Colorado, State Locations: Ohio, Virginia, New Jersey, New Hampshire, Illinois, Arizona, Georgia, Nevada , Pennsylvania, Michigan, Wisconsin, South Carolina, Dobbs v, Kentucky, Southern, Louisiana, Tim Scott of South Carolina, Florida

☆ Ohio shows abortion is still haunting Republicans
▼ + stars: | 2023-11-08 | by ( Brent D. Griffiths | John L. Dorman | ) www.businessinsider.com time to read: +6 min

In Ohio, a mostly red state, voters explicitly wrote into their state constitution a right to an abortion up until the point of fetal viability. An exit poll of Ohio voters found that 6 in 10 voters were still angry about the Supreme Court's landmark ruling in Dobbs v. Jackson. But in its absence, they have created an electoral albatross that abortion rights advocates have hung on GOP candidates up and down the ballot throughout the nation. The Virginia legislative races were defined by abortion rights, as Democrats seemingly rejected the GOP push to institute a 15-week abortion ban in the Commonwealth, which currently allows abortions through the second trimester — or approximately 26 weeks. Beshear, who supports abortion rights, sought to paint Cameron as out of the mainstream on the issue.

Persons: —, Roe, Wade, Glenn Youngkin's, Jackson, Republicans —, Joe Biden's, Ohioans, Glenn Youngkin, Alex Wong, Youngkin, Andy Beshear, Daniel Cameron, Michael Swensen, Andy Beshear —, Steve Beshear —, Hadley Duvall, Duvall, Cameron, Beshear Organizations: Democrats, Service, Democratic Party, Republican Gov, Republicans, GOP, Voters, Ohio, Democratic, Gov Locations: Ohio, Virginia, Dobbs v, Commonwealth, Richmond, Hampton, —, Northern Virginia, Kentucky, Kentucky . Kentucky, Frankfort

RICHMOND, Va. (AP) — In a closing message to voters in this year's closely watched Virginia legislative elections, Republican Gov. Virginia is one of four states — the others are Louisiana, Mississippi and New Jersey — with legislative elections this year. The legislative candidates are running this year under maps redrawn during the last redistricting. He said he was “cautiously confident” about the possibility of a GOP trifecta — both legislative chambers as well as the governorship. Biden, who has not announced any plans to campaign in Virginia before Tuesday, recently sent a fundraising email on behalf of Virginia candidates and issued nearly two dozen endorsements.

Persons: Glenn Youngkin, Youngkin, “, we'll, ” Youngkin, Youngkin's, Virginia's, It's, Roe, Wade, there's, ” Sen, Monty Mason, Danny Diggs, Democrat Joe Biden, Diggs, Virginia doesn't, —, “ We're, ” Kay James, Rich Anderson, “ MAGA, “ MAGA Republicans ”, Donald Trump's “, Biden, ”, Heather Williams Organizations: Republican Gov, Republican, Democratic, Virginians, General Assembly, Supreme, Youngkin's PAC, GOP, Democrat, Republican Party of Virginia, Democrats, U.S . House, “ MAGA Republicans, Biden's, Republicans, Democratic Legislative Locations: RICHMOND, Va, Virginia, Louisiana , Mississippi, New Jersey, Southern, U.S, Richmond, Tidewater, Washington, Yorktown, Commonwealth

☆ In one week, the GOP could win a political trifecta in Virginia that could upend abortion access in the South
▼ + stars: | 2023-10-29 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Virginia is a critical Southern battleground in the fight over abortion policy ahead of 2024. Winsome Sears and now-Attorney General Jason Miyares in a GOP sweep that put Democrats on notice that Virginia still had a purplish tinge. The Virginia State Capitol in Richmond. Zach Gibson/Getty ImagesA GOP trifecta would be a stunning development for Virginia, which only two years ago had a government controlled by Democrats, with then-Gov. This year, Democrats in the state Senate were able to block his proposal, making the chamber a bulwark against his plans.

Persons: Glenn Youngkin, —, Roe, Wade, Youngkin, Winsome Sears, Jason Miyares, Barack Obama, it's, Zach Gibson, Ralph Northam Organizations: Republican Gov, Service, Gov, GOP, Democratic, Hampton Roads, Republicans, Schar, Virginia State Capitol, Democrats, Commonwealth, Southern Locations: Virginia, Commonwealth, Northern Virginia, Hampton, Richmond's, —, Washington, Richmond, Southern, Florida, South Carolina

The bulk of the Trump PAC money went to law firms that have defended Trump against a series of criminal charges or in civil lawsuits. “Well, if the little fish’s lawyer is being paid by the big fish that’s less likely to happen potentially.”The Trump campaign did not respond to a request for comment. That money is earmarked for political and campaign activities, not for legal expenses, according to the campaign. To help pay the legal fees, Trump’s political operation has also moved millions from his super PAC, MAGA Inc. Those concerns are amplified in court records filed by Smith’s team in the Mar-a-Lago case.

Persons: — Donald Trump’s, Trump, ”, Randall Eliason, he’s, Letitia James ’, James, schemed, “, it’s, Anthony Michael Kreis, Donald Trump, Robert Lee, wasn’t Trump, Lee, Alina Habba, Christopher Kise, James ’, Habba Madaio, Habba, Jean Carroll, Mary Trump, Kise, Foley, Lardner, Chris Kise, Ron DeSantis, Sen, Rick Scott, Coleman, Ciara Torres, Jack Smith, ” Torres, Spelliscy, Joe Biden, Saurav Ghosh, don’t, ” Ghosh, Donald J, Smith, Carlos De Oliveira, De Oliveira, He’s, Walt Nauta, John Irving of, Brand, Stanley Woodward, Woodward, Mark Meadows, Dawn Smelcer, ” he’s, Eric Tucker, Jill Colvin Organizations: WASHINGTON, Commission, Associated, Save, Republican National Committee, Democratic National Committee, National Republican Senatorial, Trump PAC, Trump, White, George Washington University Law School, MAGA Inc, Georgia State University, Associates, Save America, New York Times, PAC, Republican, Florida Gov, Continental, Stetson University College of Law, Justice Department, Justice, Republicans, Democrats, GOP, Democratic, Legal, Smith’s, FBI, John Irving of Earth & Water Law, Brand Woodward Law, Prosecutors, AP, Associated Press Locations: New York, Georgia, Fulton, Lago, Florida, Boca Raton , Florida, Washington ,, Bedminster , New Jersey, York, West Palm Beach , Florida, Save America, Fayetteville , North Carolina, Washington

☆ CNBC Daily Open: Look beyond the headline jobs number
▼ + stars: | 2023-10-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Joe Raedle | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe number of jobs the U.S. economy added in September was so unexpectedly high that markets fell right on cue. Instead, the shocker of a jobs report said nonfarm payrolls increased by 336,000 last month, the most since January. After reeling from the shocking headline number, investors had time to digest the details in the report.

Persons: Joe Raedle, nonfarm, Stocks, Dante DeAntonio, Dow, It's Organizations: Tire, CNBC, shocker, Federal Reserve, Nasdaq, Treasury, Dow Jones Industrial, Moody's Locations: Miami , Florida, U.S, Israel

☆ Wall Street's dream scenario is dead
▼ + stars: | 2023-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

Wall Street's vision of a Goldilocks scenario for the stock market and economy is unraveling. AdvertisementAdvertisementWall Street's dream of a Goldilocks scenario for the stock market and economy is probably dead. Interest rates soared. As painful as inflation and higher interest rates were, the economy remained resilient as consumers held onto their jobs and kept swiping their credit cards. It has to acknowledge that interest rates are now sufficiently restrictive, and decide that it's next monetary policy move isn't an interest rate hike, but rather a pause, and then a cut.

Persons: —, it's, Jerome Powell, Powell's, Powell, Buckle, Greg Daco, Something's, Kevin O'Leary, we've, Wharton, Jeremy Siegel, Mary Daly, Raphael Bostic Organizations: Service, Treasury, Valley Bank, Bloomberg, CNBC Locations: America

☆ Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Many investors expect that could be the capitulation event equities need to bottom out before rebounding. "If you get down to five and a quarter all hell's gonna break loose," Rob Ginsberg, managing director at Wolfe Research. The yield on the 10-year Treasury has spiked sharply to about 4.8% this week, about 1 whole percentage point above where it was in mid-July at around 3.7%. In fact, it won't take much for the positive narrative to start to take hold in markets, Hogan said. Hogan anticipates the S & P 500 could rise to 4,800 by year end, about 13% above where it is currently.

Persons: Rob Ginsberg, Fitch, Ray Dalio, Jamie Dimon, Wolfe Research's Ginsberg, Ginsberg doesn't, You'll, Ginsberg, Riley Financial's Art Hogan, they'll, Read, Hogan, Kevin McCarthy, Goldman Sachs, Jan Hatzius, Katie Stockton, Bank of America's Stephen Suttmeier, Jeffrey Hirsch, I'm, Hirsch Organizations: Dow Jones, Treasury, Wolfe Research, Federal Reserve, JPMorgan, CNBC Pro's, Supply, Bank of America's Locations: Saudi Arabia

☆ A top economist explains why a US recession is still on the table
▼ + stars: | 2023-10-03 | by ( Phil Rosen | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The US economy is showing signs of resilience, including from the labor market and consumer spending. The labor market has remained robust, steady economic growth is still there, and consumers have yet to buckle. "I think there's still risks gradually accumulating in the economy," Kimbrough said. AdvertisementAdvertisementConsumer and labor market risks loomA number of factors pose as headwinds for consumers, in the chief economist's view. Gregory Daco, EY's chief economist, also recently warned that there are headwinds impacting consumers, forcing them to perhaps cut back on spending.

Persons: isn't, —, Jeremy Grantham, Jamie Dimon, Karin Kimbrough, LinkedIn's, it's, Kimbrough, they've, Gregory Daco, Daco Organizations: Service, Chicago Fed, BlackRock, Labor, of Labor Statistics, Federal Reserve Bank of New York's Center, Microeconomic

☆ Danger, 'pothole' ahead: Economic growth slowing to a near-halt to end the year
▼ + stars: | 2023-09-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Be it the United Auto Workers strike , the impending government shutdown or the resumption of deferred student loan payments , ominous barriers to growth have been lining up. "The economic headwinds are blowing, and they're blowing harder and harder," said Mark Zandi, chief economist at Moody's Analytics. JPMorgan Chase CEO Jamie Dimon recently cautioned clients that the Fed may have to take rates a good deal higher yet. Still, that's well rate above the central bank's 2% target, posing another potential headwind to growth. Despite the looming slowdown, consumers, who are pivotal to U.S. growth, have managed to hang in there.

Persons: Mark Zandi, Goldman Sachs, Goldman, Ronnie Walker, Alec Phillips, tumbles, Sam Stovall, JPMorgan Chase, Jamie Dimon, We're, Liz Ann Sonders, Charles Schwab, Jerome, Powell, They've Organizations: United Auto Workers, Moody's, UAW, Atlanta, JPMorgan, University of Michigan's, Commerce Department Locations: U.S

☆ US government shutdowns don’t send markets tanking, but the coast is far from clear
▼ + stars: | 2023-09-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

During the most recent government shutdown in 2019, the S&P 500 rose more than 10%. The S&P 500 on Tuesday logged its lowest close since June and fell below the threshold it passed that same month to enter a new bull run. The S&P 500 has gained 0.5% on average during the month following the end of a shutdown and 1.5% during the period three months after. Meta’s Zuckerberg unveils Quest 3Meta is moving forward in its efforts to dominate the AR world with the new and improved Meta Quest 3, reports my colleague Jennifer Korn. The Meta Quest 2 allows for strictly virtual reality, while the Meta Quest Pro has advanced passthrough cameras for seeing your actual surroundings, but it costs a whopping $1,000.

Persons: shutdowns, ”, Steven Wieting, Goldman Sachs, Jeffrey Roach, Ned Davis, Meta’s Zuckerberg, Jennifer Korn, Mark Zuckerberg, Jeanne Sahadi, Read Organizations: CNN Business, Bell, CNN, Strategas Research Partners, Citi Global Wealth, Reserve, LPL, Fed, Stocks, Ned Davis Research, Meta, Pro, Fortune, Pew Research Center, Pew Locations: United States

☆ The top economist at EY thinks the US economy faces a 'trifecta' of threats that could make Americans stop shopping and cause a slowdown
▼ + stars: | 2023-09-25 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

EY chief economist Gregory Daco thinks "consumers are becoming more conservative with their spending." Coming up is another headwind: the restart of federal student-loan payments. The different economic threats means consumer spending growth may not be so hot next year, as consumers are already reducing their spending. Other economists have pointed out how the upcoming student-loan payment restart will have an impact on the economy. Have you changed your spending habits or are you spending less on certain items given the restart of student-loan payments, fewer savings, and other factors?

Persons: Gregory Daco, Taylor Swift, it's, Daco, Torsten Sløk, NYU Stern, David Kelly Organizations: Service, Consumer, Bureau of Labor Statistics, BLS, NYU, Morgan Asset Management, AAA, CNBC Locations: Wall, Silicon, American, —, mhoff@insider.com

☆ Treasury Secretary Janet Yellen tackles 'disconnect' on Biden polling and U.S. economy
▼ + stars: | 2023-09-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Janet Yellen, U.S. Secretary of the Treasury at Clinton Global Initiative summit at Hilton Midtown Hotel. WASHINGTON — Treasury Secretary Janet Yellen on Tuesday said there is a "disconnect" between the actual performance of the U.S. economy and how Americans feel about how President Joe Biden has handled it. The negative opinions that Americans share in polls on the economy "mainly reflects their answers on how is the economy more broadly doing," Yellen said on MSNBC's "Morning Joe." But she predicted that people will start to feel more positive about the overall economy once they see the effects of Biden administration legislation and policies. We've had a trifecta of legislation that President Biden and Congress have passed," Yellen said.

Persons: Janet Yellen, Joe Biden, Yellen, Joe, Biden, We've Organizations: Treasury, Clinton Global Initiative, Midtown, Midtown Hotel . WASHINGTON —, Congress, Wall Street Locations: U.S, Midtown Hotel . WASHINGTON, America

☆ 'Success disasters' have become a big problem in tech for companies and consumers
▼ + stars: | 2023-09-14 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

These technology failures during a major scaling event — dubbed success disasters — weren't alone. Ticketmaster's failure during their scaling event was just one kind of success disaster — the overburdening of the system's capacity. Success disasters may be common, but that doesn't make them acceptable, especially if a company is offering products or services considered essential. The right answer really depends on the starting point and what scaling events are anticipated. Even on a smaller (but still substantial) scale, Urban keeps this in mind to avoid her own success disaster.

Persons: Taylor, SeatGeek, clamoring, —, Spencer Kimball, Kimball, Masa Kabayama, Kabayama, Paula Urban Organizations: Ticketmaster, Labs, Google, Uplift Labs, MLB, NBA, Apple, Houston Livestock, Taylor Swift Locations: onboarding

☆ A kid posed with his pilot dad in an airplane. Almost 30 years later they recreated the photo
▼ + stars: | 2023-09-13 | by ( Francesca Street | ) edition.cnn.com time to read: +8 min

Meanwhile Flowers’ father – also called Ruben Flowers – was nearing retirement and readying for his final Southwest flight as Captain. “It was just great to be able to recreate that moment,” says the younger Flowers. “It was a dream come true moment.”Family affairHere's Captain Ruben Flowers and First Officer Ruben Flowers recreating the 1990s photo in 2023. The Flowers family aviation legacy began when the older Flowers was a kid growing up in Michigan in the 1960s and 70s. The older Flowers is excited for that day too, and says he’s unendingly proud of his three children.

Persons: CNN — Ruben Flowers, Flowers, He’d, –, Ruben Flowers –, readying, they’d, ”, Ruben Flowers, there’s, didn’t, it’s, Louis Freeman, Freeman, “, He’s, he’s, he’ll, he’s unendingly Organizations: CNN, Southwest Airlines, CNN Travel, Southwest, ”, intel, Airlines, Organization of Black Aerospace Locations: Southwest, Omaha , Nebraska, Chicago , Illinois, Michigan

☆ The future of abortion rights in Virginia may depend on what voters think of Chaturbate
▼ + stars: | 2023-09-12 | by ( Walt Hickey | ) www.businessinsider.com time to read: +5 min

A Democratic candidate in a key swing district is in the midst of a scandal over previous work in pornography. At least one prominent Virginia politician, Senate President Pro Tem L. Louise Lucas, immediately came to Gibson's defense, blaming operatives working for Virginia's Republican Gov. As it stands, Youngkin has said that it's his mission to implement a 15-week abortion ban in the commonwealth. So far, the only thing standing in his way has been the Virginia State Senate, where Democrats hold a slim 22-18 majority. So it falls to the voters of Short Pump, Virginia, to decide whether performing on Chaturbate is disqualifying for them, even if that means giving the go-ahead to a statewide abortion ban.

Persons: Susanna Gibson, Gibson, Louise Lucas, Glenn Youngkin, Mitt Romney's, Candace Valenzuela, Youngkin, Ballotpedia, Biden Organizations: Democratic, Service, Washington Post, of, Delegates, Conservative, New York Times, Pro Tem, Virginia's Republican Gov, Bain Capital, Black Latina, Virginia State Senate, VCU's Wilder School of Government, Virginians, GOP, Ballotpedia, Democrats Locations: Virginia, Wall, Silicon, Texas, Gibson's, what's, It's

☆ Oil, the dollar, and the Fed still pose a triple threat to the US economy, Bank of America says
▼ + stars: | 2023-09-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Don't rule out a hard landing for the US economy just yet, according to Bank of America. Strategists led by Michael Hartnett warned that oil, the dollar, and the Federal Reserve all still pose a threat. Their gloomy outlook clashes with much of Wall Street, with top banks and the Fed itself having shelved their recession predictions. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Hartnett's team said the consensus view is that there's a 20% chance of a hard landing – but warned the trifecta of oil, the dollar, and the Fed each still pose an economic threat.

Persons: Michael Hartnett, that's, Goldman Sachs, Jan Hatzius, Susan Collins Organizations: Bank of America, Federal Reserve, Fed, Service, Federal, West Texas, Boston Fed Locations: Wall, Silicon, Brent, Russia, Saudi Arabia

☆ 2023 Ryder Cup teams: Shock selections, ‘criminal’ absences: Everything you need to know about the squads
▼ + stars: | 2023-09-06 | by ( Jack Bantock | ) edition.cnn.com time to read: +13 min

CNN —The teams are in – and Ryder Cup fever has officially taken hold. Team USACaptain: Zach JohnsonA member of five US teams as a player, Johnson is a veteran of the Ryder Cup. Consistency” – who accumulated more Ryder Cup points than the next two closest players combined since the start of 2022. Subsequently, selecting Koepka for his fourth Ryder Cup appearance was an “easy pick” for his captain. Rounding out the American roster are Ryder Cup rookie Burns and Morikawa, who went 3-0-1 on his debut two years ago.

Persons: Zach Johnson, Luke Donald, Marco Simone Golf, It’s, Johnson, Steve Stricker, Stricker, Davis Love III, Jim Furyk, Fred Couples, Stewart Cink, Jonathan Bachman, Scottie Scheffler, Wyndham Clark, Brian Harman, Patrick Cantlay, Max Homa, Xander Schauffele, Scheffler, Ezra Shaw, Clark, Harman, Homa, Schauffele, ” Homa, ” Harman, ” Johnson, Sam Burns, Rickie Fowler, Brooks Koepka, Collin Morikawa, Jordan Spieth, Justin Thomas It’s, LIV, Koepka, “, “ Brooks, CNN Thomas, he’s, JT, ” Thomas, Thomas, Ryder, ” Cameron Young, Keegan Bradley, Denny McCarthy, “ Zach, Ross Kinnaird, Spieth, Fowler, Burns, Morikawa, Marco Simone, that’s, Luke Donald He, Donald, Henrik Stenson, Francesco Molinari, Edoardo –, Thomas Bjørn, Nicolas Colsaerts, María, Sergio Garcia, Andrew Redington, Rory McIlroy, Jon Rahm, Viktor Hovland, Tyrrell Hatton, Matt Fitzpatrick, Robert MacIntyre, McIlroy, Rahm, Fitzpatrick, compatriot Hatton, MacIntyre, ” Donald, ”, Paul Ellis, Captain’s, Tommy Fleetwood, Sepp Straka, Shane Lowry, Justin Rose, Nicolai Højgaard, Ludvig Aberg, Swede, Ludvig, “ He’s, Fabrice Coffrini, Adrian Meronk, Paul Goydos, Adrian, There’s, Straka, Rose, Lowry Organizations: CNN, Ryder, United States, Country Club, Team Europe, Team USA, Whistling, Davis Love, Tour, PGA, CNN Sport, FedEx, Getty, USA, ” Team, Northern, Scottish, Hovland, European, Fleetwood Locations: –, Rome, Italy, Whistling Straits, Hazeltine, Saudi, Europe, Hovland, Norwegian, AFP, Switzerland, Crans Montana

☆ Struggling US households may soon max out their credit cards as banks get skittish
▼ + stars: | 2023-08-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

But the spending habits of consumers do not appear to be sustainable, and a correction is due. But spending habits are unsustainable, and a decline in consumer spending is likely coming in early 2024, according to the note. That's because credit card debts are piling up and excess savings from the pandemic are being depleted. "With banks far more reluctant to provide unsecured consumer credit, based on the Federal Reserve's Senior Loan Officer Opinion survey, the clear threat is that many struggling households may soon find their credit cards are being maxed out and they can't obtain more credit," he said. AdvertisementAdvertisementTotal credit card debt held by US consumers hit a record high earlier this year of more than $1 trillion.

Persons: James Knightley, Knightley Organizations: ING Economics, Federal

☆ China risks a debt deflation loop but could avoid a lost decade if it plays its cards right, Morgan Stanley says
▼ + stars: | 2023-08-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's economy is at risk of falling into a debt-deflation loop, according to Morgan Stanley. That's a scenario where prices fall, debt rises, while economic growth stagnates. But policymakers could avoid that future if they keep interest rates below a key level. "China's policymakers will need to act forcefully. That trifecta of obstacles means it could be possible that China's economy could do even worse than Japan did in the 90s, according to Nobel laureate Paul Krugman.

Persons: Morgan Stanley, That's, Chetan Ahya, Ahya, Paul Krugman Organizations: Service, Bank of Japan Locations: Wall, Silicon, China, Asia, Japan

☆ An $11 trillion wealth wipeout has set the world back for the first time since 2008, thanks to a trifecta of high inflation, interest rates, and currency declines
▼ + stars: | 2023-08-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

That's thanks to a trifecta of inflation, rising interest rates, and currency depreciation against the US dollar. But inflation, rising interest rates and currency depreciation caused a reversal in 2022," UBS analysts wrote in a note. That's sparked an aggressive policy reaction from central banks, which have hiked interest rates sharply over the past year. Higher inflation and interest rates tend to chip away at consumer spending power, eating away at individual savings and wealth. According to UBS, local currency depreciation against the greenback also played a big role in eroding global wealth.

Persons: That's Organizations: UBS, Service, Federal, greenback, Fed Locations: Wall, Silicon, Europe, North America, Asia, Pacific, Ukraine

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

Search resuls for: "trifecta"

25 mentions found