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☆ There's going to be a lot less new TV for a while. And that's brilliant.
▼ + stars: | 2023-07-16 | by ( Chris Johnston | ) www.businessinsider.com time to read: +4 min

Hollywood is facing its first strike by both writers and actors in more than six decades. It's going to mean a lot less new television this year, but that may not be such a bad thing. Almost 600 scripted TV shows were released in the United States alone last year. If that is the case, there might be a very big silver lining for us viewers: a break from the relentless release of new TV shows. Likewise with Donald Glover's often truly astonishing piece of performance art masquerading as television that's also known as "Atlanta."

Persons: they're, Jonathan Handel, you'd, I've, They're, Jeffrey Dahmer, Max, Donald Glover's, that's Organizations: Hollywood, Writers Guild of America, Netflix, Apple, Paramount, Lionsgate Locations: United States, Hollywood, Hulu

☆ I've never faced a player like Alcaraz, says beaten Djokovic
▼ + stars: | 2023-07-16 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, July 16 (Reuters) - Novak Djokovic has experienced everything possible on a tennis court during his trophy-laden 23-year career but said he has never faced a player quite like Carlos Alcaraz. "I didn't expect him to play so well this year on grass, but he's proven he's the best player in the world," Djokovic said after his 1-6 7-6(6) 6-1 3-6 6-4 defeat. I think he's got some nice sliding backhands, some similarities with my backhands. After outplaying Alcaraz in a one-sided first set, Djokovic then slugged out an 85-minute second and had a point for a two-set lead in the tiebreak but dumped a backhand into the net. "Set point, I missed the backhand.

Persons: Novak Djokovic, Carlos Alcaraz, Alcaraz, Rafa Nadal, Roger Federer, Margaret Court's, Casper Ruud, cramp, Djokovic, Andy Murray, Roger, Rafa, He's, we've, he's, Serbia's Novak Djokovic, Spain's Carlos Alcaraz, Dylan Martinez Djokovic, outplaying, Martyn Herman, Toby Davis Organizations: Court, Wimbledon, Djokovic, Lawn Tennis, Croquet Club, Thomson Locations: U.S, London, Britain

☆ JPMorgan’s Profit Jumps, but Interest Rates Remain a Threat
▼ + stars: | 2023-07-14 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +2 min

Why It MattersGiven its size, JPMorgan is a proxy for the banking industry at large. Jamie Dimon, the bank’s chief executive, has deep political connections and his prognostications on the economy are scrutinized in some circles as closely as a central banker’s musings. On Friday, in a statement, Mr. Dimon said the U.S. economy was “resilient,” echoing language he has used repeatedly this year, but listed a litany of risks, including that consumers are burning through their cash buffers and that inflation remains high. BackgroundJPMorgan and Mr. Dimon have been all over the news this year, thanks to their prominent role as an attempted stabilizing force during the spring’s banking crisis that felled three smaller lenders. What’s NextThe next week or so will see a slew of other banks report their quarterly earnings.

Persons: Jamie Dimon, Dimon, Goldman Sachs Organizations: JPMorgan, Treasury, Western Alliance and Comerica Locations: U.S, Republic

Jamie Dimon, the bank’s chief executive, has deep political connections, and his prognostications on the economy are scrutinized in some circles as closely as a central banker’s musings. The U.S. economy “continues to perform better than many had expected,” said Charles W. Scharf, the bank’s chief executive. Unlike the other banks, Citigroup reported a fall in second-quarter profit, although the decline was not as severe as analysts had predicted. The U.S. government debt-limit standoff in April and May was also reflected in the banks’ results, with Citi citing anxiety during the negotiations as pushing investment-banking clients to the “sidelines” during the second quarter. What’s NextIn the next week or so, a slew of other banks will report quarterly earnings.

Persons: Jamie Dimon, Dimon, didn’t, ”, Wells, “, Charles W, Scharf, Jane Fraser, Goldman Sachs Organizations: JPMorgan, Treasury, Citigroup, Citi, Western Alliance and Comerica Locations: U.S, Wells Fargo, Republic

☆ Russia's economy is in shambles and its oil exports are collapsing — but its crude oil just smashed a crucial price cap
▼ + stars: | 2023-07-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Russia's flagship Urals crude just breached the price cap of $60 a barrel on Tuesday, per S&P Global. The price cap came into effect on December 5 and sought to limit Moscow's energy revenues. These production cuts prop up oil prices as demand outsizes supply, an unnamed European oil trader told S&P. The benchmark US West Texas Intermediate crude oil futures were up 0.2% at $75.90 a barrel at 2.29 ET on Thursday. The global benchmark Brent crude oil prices were up 0.3% at $80.33 a barrel.

Persons: Phil Rosen Organizations: P Global, Service, P, West Texas, Brent Locations: Wall, Silicon, Russia, Ukraine, China, Saudi Arabia

I made a lot of mistakes with money in my 20s. When life got busy, I turned a blind eye to my money situation — until my credit card bill was sent to me. AdvertisementAnother big-ticket item on my credit card bill was rideshare costs, which could have been avoided in most cases. Before I knew it, I had a lot of open credit cards — and a desire to close them all. I knew that opening credit cards could help my credit score, but only if I used them and paid them off immediately.

Persons: —, Salary.com, Investopedia, I've Organizations: Service, Quicken, Karma Locations: New York City

July 12 (Reuters) - Oil prices settled higher on Wednesday, with benchmark Brent futures breaching $80 a barrel for the first time since May, after U.S. inflation data spurred hopes the Federal Reserve may have fewer interest rate hikes in store for the world's biggest economy. U.S. data showed consumer prices rose modestly in June and registered their smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it. Brent futures settled up 71 cents, or 0.9%, to $80.11 a barrel. Forecasts from the U.S. Energy Information Administration (EIA) and the International Energy Agency (IEA) point to the market tightening into 2024.

Persons: Naeem Aslam, Brent, Tamas Varga, Phil Flynn, Natalie Grover, Trixie Yap, Sonali Paul, Barbara Lewis, Emelia, David Gregorio Our Organizations: Zaye, . West Texas, U.S . Energy Information Administration, International Energy Agency, IEA, Saudi, U.S . Energy, Administration, Price Futures, Thomson Locations: China, Saudi Arabia, Russia, U.S, London

☆ With a world-class workforce and a booming economy, North Carolina repeats as America's Top State for Business in 2023
▼ + stars: | 2023-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +6 min

North Carolina Gov. North Carolina ranks first in the all-important Workforce category of CNBC's study. Strong workers fuel GDP, solid state finances North Carolina's strong workforce helped feed its performance in other categories. "It's clear that the Republican legislature is aiming to choke the life out of public education," Cooper said on May 24. Abortion rights demonstrators gather to protest in Raleigh, North Carolina, after the Supreme Court's decision in the Dobbs v. Jackson Women's Health case, June 24, 2022.

Persons: Bosch, Roy Cooper, Joe Biden's, Melissa Sue Gerrits, Josh Wright, Charlotte, it's, You've, Wright, Cooper, Tricia Cotham, Cotham Organizations: State, Business, North Carolina, CNBC, North Carolina Gov, Getty, Apple, Triangle, Democrat, Raleigh, U.S . Labor Department, Commerce Department, Federal Housing Financing Agency, Census, ATTOM Data, Technology, Innovation, Capital, Republican, Republicans, General, Jackson, Anadolu Agency Locations: North Carolina, Lincolnton, Greensboro, Goldsboro, American, Durham, Wolfspeed, Durham , North Carolina, East Coast, America, Alaska, Massachusetts, North, Raleigh , North Carolina, Dobbs

☆ Analysis-New anti-ESG rule in Missouri offers US Republicans another path away from 'wokeness'
▼ + stars: | 2023-07-10 | by ( Ross Kerber | ) www.reuters.com time to read: +6 min

(Reuters) - A new Missouri securities rule offers a template for Republican U.S. state officials who want to advance an “anti-woke” business agenda even as such ideas struggle for legislative backing. Ashcroft acted after Republican lawmakers failed to pass a similar measure during the state’s legislative session that ended on May 12, amid infighting over which bills should be prioritized. Concerns over costs, bureaucracy and economic fallout led to bills stalling or passing in weakened form even in so-called red states, where Republicans dominate state government. Several corporate attorneys said other Republican officials may adopt Ashcroft’s playbook and act on their own. According to a spokesperson, Ashcroft initiated the rulemaking before the legislative session began, essentially as a backup plan in case lawmakers did not act on the same idea introduced in January.

Persons: Shannon Stapleton, John “ Jay ” Ashcroft, Ashcroft, “, ” overreach, Ashcroft’s, ”, Beth I.Z, Boland, Lardner, Larry Fink, ’ Ashcroft, ” Ashcroft, can’t, Dan Mehan, Lance Dial, Chuck Gray, West, Ron DeSantis, Walt Disney Organizations: Reuters, Republican U.S, REUTERS, Merriam, Webster, Strategy, “, Foley, Republicans, Morningstar, BlackRock, state’s, Representatives, Republican, Missouri Chamber of Commerce, Missouri, Florida Locations: Missouri, Appleton City , Missouri, U.S, Boston, Wyoming, ESG

☆ Analysis: New anti-ESG rule in Missouri offers US Republicans another path away from 'wokeness'
▼ + stars: | 2023-07-10 | by ( Ross Kerber | ) www.reuters.com time to read: +6 min

Ashcroft acted after Republican lawmakers failed to pass a similar measure during the state's legislative session that ended on May 12, amid infighting over which bills should be prioritized. Concerns over costs, bureaucracy and economic fallout led to bills stalling or passing in weakened form even in so-called red states, where Republicans dominate state government. Several corporate attorneys said other Republican officials may adopt Ashcroft's playbook and act on their own. According to a spokesperson, Ashcroft initiated the rulemaking before the legislative session began, essentially as a backup plan in case lawmakers did not act on the same idea introduced in January. EXTRA ARROWSFinancial executives who so far have avoided the strongest laws worry that the possibility of executive or administrative actions, as in Missouri, gives state officials flexibility to keep up the pressure.

Persons: Shannon Stapleton, Walt Disney, Missouri's, John " Jay, Ashcroft, Ashcroft's, Beth I.Z, Boland, Lardner, Larry Fink, Dan Mehan, Lance Dial, Chuck Gray, West, Ron DeSantis, Ross Kerber, Greg Roumeliotis, Anna Driver, Matthew Lewis Organizations: REUTERS, Walt, Republican U.S, Merriam, Webster, Strategy, Foley, Republicans, Morningstar, BlackRock, Reuters Graphics, Reuters, state's, Representatives, Republican, Missouri Chamber of Commerce, Missouri, Florida, Thomson Locations: Appleton City , Missouri, U.S, Missouri, Boston, BLK.N, Wyoming, ESG

☆ Aussie retailers in for more pain as high interest rates squeeze spending - Citi
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

July 6 (Reuters) - Australian retailers are in for a sombre period this fiscal year as high interest rates squeeze household budgets, especially for discretionary spending, Citigroup said on Thursday, with expected further rate hikes likely to dent confidence even more. The brokerage cut its fiscal 2024 earnings forecast for electronics retailer JB Hi-Fi (JBH.AX), fashion retailer Premier Investments (PMV.AX), auto parts retailer Super Retail (SUL.AX), and retail conglomerate Wesfarmers (WES.AX). "It appears the two recent rate rises (in May and June) following the April pause has been the final straw, pushing some consumers to restrain their spending," Citi analysts Adrian Lemme and James Wang wrote in a note. They estimate the high rates have pushed up net household interest expense by around A$30 billion over five years through 2024. "Given Citi forecasts another two rate rises, we think confidence will remain depressed for now," the analysts said.

Persons: Adrian Lemme, James Wang, JB, Harvey Norman, Citi's, Sameer Manekar, Savio D'Souza Organizations: Citigroup, JB, Premier Investments, Super, Citi, Australia, UBS, Pizza Enterprises, Coles Group, Woolworths, Thomson Locations: Bengaluru

☆ Higgins: Can Threads siphon away the community aspect Twitter has built around cultural events?
▼ + stars: | 2023-07-06 | 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 EmailHiggins: Can Threads siphon away the community aspect Twitter has built around cultural events? Wall Street Journal tech reporter Tim Higgins discusses Meta's motivation for launching the new Threads app, and whether it can a meaningful dent in Twitter's user numbers.

Persons: Higgins, Tim Higgins Organizations: Twitter, Street Journal

☆ Oil near flat as tighter supplies offset U.S. rate hike risk
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: +3 min

Oil prices were near flat on Thursday as the market weighed tighter U.S. crude supplies with the higher likelihood of a U.S. interest rate hike that could dent energy demand. U.S. interest rate futures on Thursday increased the probability of another U.S. rate rise after news private payrolls surged last month. "While the inventories are supportive for oil prices today, the oil market is being dominated by fears of further rate increases," said Andrew Lipow, president at Lipow Oil Associates in Houston. The total cuts now stand at more than five million barrels per day (bpd), equating to 5% of global oil output. Rather than pressuring oil producers to curb supply, which heads of global energy companies say serves only to increase prices, governments should shift the focus to limiting oil demand to reduce emissions, they said.

Persons: payrolls, Phil Flynn, Andrew Lipow Organizations: Brent, . West Texas Intermediate, Federal Reserve, Price Futures, Energy Information Administration, Lipow Oil Associates, Reuters, OPEC Locations: Red, Ras Behar, Egypt, U.S, Europe, China, Houston, Saudi Arabia, Russia, Vienna

☆ Wall Street Recession: Stock Market Crash Predictions Are Wrong
▼ + stars: | 2023-07-05 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

Wall Street analysts and economists have always had a tendency to fall in love with their forecasts. This stubbornness helps explain why Wall Street is having an exceptionally hard time letting go of the idea that a recession is just around the corner. Despite the year-plus in which analysts have been arguing that a recession is imminent, none of the arguments behind the predictions stand up to scrutiny. Bear growlsOver the past year, Wall Street pessimists' reasons for an approaching recession have shifted. The drag from the US housing market is fading.

Persons: doomsayers, it's, Neil Dutta Organizations: Street, Federal Reserve, Fed, Macro

☆ El Niño is here and the world must prepare for more extreme heat, UN weather agency warns
▼ + stars: | 2023-07-05 | by ( Helen Regan | ) edition.cnn.com time to read: +4 min

The WMO said there was a 90% probability of El Niño continuing during the second half of 2023 at moderate strength. Along with increased ocean warming, El Niño events are usually associated with increased rainfall in parts of southern South America, the southern United States, the Horn of Africa and central Asia. In India, a major rice producing nation, El Niño can weaken the monsoon that brings the rainfall the country relies on to fill aquifers and grow crops. El Niño this year could also dent US economic growth, potentially impacting everything from food prices to winter clothing sales, a recent study found. The study attributed $5.7 trillion in global income losses to the 1997-98 El Niño and $4.1 trillion in losses to the 1982-83 El Niño.

Persons: El Niño, El, ”, Petteri Taalas, Niño, Chris Hewitt, “ Organizations: CNN, World Meteorological Organization, WMO, United Nations, El Locations: El, South America, United States, of Africa, Asia, Australia, Indonesia, Central America, Pacific, India, Paris, Europe, Americas

☆ Trump fundraising haul surged in second quarter as he battled indictments
▼ + stars: | 2023-07-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The average donation to the Trump campaign was $34, according to the officials, who requested anonymity to confirm the figures ahead of a July 15 filing deadline. The joint fundraising committee comprises Trump's campaign and his leadership PAC, Save America. It was unclear how much of the second-quarter bundle was raised by Trump's campaign and how much was taken in by Save America. The fundraising haul provides more evidence that Trump remains the clear frontrunner in the Republican presidential primary field. Politico reported on Trump's second quarter fundraising numbers earlier Wednesday.

Persons: Donald Trump, Donald Trump's, Trump's, Trump, Jack Smith, Ron DeSantis Organizations: U.S, CNBC, PAC, Save, Save America, Republican, Florida Gov, GOP, Politico Locations: Pickens , South Carolina, New York, Save America, Manhattan, Miami

☆ Wimbledon 2023: The favorites to win the championships, the main challengers and how to watch
▼ + stars: | 2023-07-02 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

Despite struggling for form in the lead up to the French Open, Djokovic found his A-game when it mattered most in Paris and looked largely unstoppable. Lisi Niesner/ReutersRybakina became the first player from Kazakhstan to win a grand slam title after beating Ons Jabeur in three sets in last year’s Wimbledon final, catapulting her to stardom overnight. Belarussian Sabalenka and Poland’s Iga Świątek are joint favorites to win the title alongside Rybakina, according to bookmakers. Sabalenka has three titles to her name this year, including that maiden grand slam in Australia, and has matched her career-high of No. Iga Swiatek is a four-time grand slam champion but is yet to win Wimbledon.

Persons: Novak, Roger Federer’s, –, Björn Borg –, Djokovic, Spain’s Carlos Alcaraz, Garros, Carlos Alcaraz, Susan Mullane, Reuters Alcaraz, Alcaraz, – Daniil Medvedev, Stefanos Tsitsipas, Casper Ruud, Holger Rune, Frances Tiafoe, Julian Finney, Francis Tiafoe, Chile’s Nicolas Jarry, Elena Rybakina, Donna Vekić, hadn’t, Kazakhstan's Elena Rybakina, Linda Noskova, Lisi Niesner, Reuters Rybakina, Belarussian, Iga, Rybakina, Sabalenka, Aryna Sabalenka, agains Karolina Muchova, Veronika Kudermetova, Świątek, Tatjana Mariana, hasn’t, Joaquim Ferreira, Coco Gauff, Ekaterina Alexandrova, Madison Keys Organizations: CNN — Tennis, All England Club, Wimbledon, Roland, Queen's, USA, Sports, Reuters, Queen’s, Getty, Stuttgart, Eastbourne International, Czech, Stade Roland, Bad, Junior Wimbledon, Bernarda Pera, BBC, ESPN, Tennis Channel Locations: London, Paris, Germany, Wimbledon, Kazakhstan, Australia, United Kingdom

☆ A college graduate with $33,000 in student loan debt says she has 'no hope' after the Supreme Court rejected Biden's forgiveness plan
▼ + stars: | 2023-07-01 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Many borrowers are dismayed after the Supreme Court struck down President Biden's student-debt relief plan. Anderson said she consistently made her loan payments, but it didn't make a dent in her balance. But in a 6-3 decision, the Supreme Court, driven by its conservative majority, ruled that Biden's debt-relief plan was unconstitutional and required explicit approval by the US Congress. "Now that the Supreme Court has rejected the student loan forgiveness, I have no hope," she told The Post. But hours after the court's decision, Biden initiated a process for using the Higher Education Act of 1965 to cancel student loan debt.

Persons: Biden's, Scarlet Anderson, Anderson, —, Joe Biden's, Pell, Biden, I'm, White Organizations: Service, Education, Arizona State University, Washington Post, Higher

The liberal justices, including Biden's appointee Ketanji Brown Jackson, found themselves in the role of the dissenting minority in some of the nine-month term's biggest cases. The conservative justices invoked the "major questions" doctrine, a muscular judicial approach that gives judges broad discretion to invalidate executive agency actions of "vast economic and political significance" unless Congress clearly authorized them. In those cases, the conservative justices were unified in the majority and the liberal justices dissented. In that case, the liberal justices were joined by one conservative justice, Trump appointee Brett Kavanaugh, in dissenting on the new test. The justices on Friday agreed to decide whether a 1994 federal law that bars people under domestic violence restraining orders from possessing firearms violates the Constitution's Second Amendment.

Persons: Amy Coney Barrett, Neil M, Gorsuch, Brett M, Kavanaugh, Ketanji Brown Jackson, Sonia Sotomayor, Clarence Thomas, John G, Roberts, Jr, Samuel A, Alito, Elena Kagan, Read, Joe Biden's, Donald Trump's, Erwin Chemerinsky, Trump's, Chemerinsky, Trump, Brett Kavanaugh, Ruth Bader Ginsburg, Roe, Wade, Jackson, Justice Jackson, Adam Feldman, Biden's, John Kruzel, Andrew Chung, Will Dunham Organizations: Supreme, U.S, Republican, Harvard University, University of North, University of California Berkeley Law School, U.S . Environmental, Alabama, Senate, Consumer, Thomson Locations: Washington , U.S, WASHINGTON, University of North Carolina, U.S, Texas

☆ Why We Don’t Recommend the Ninja Creami
▼ + stars: | 2023-06-30 | by ( Mace Dent Johnson | ) www.nytimes.com time to read: 1 min

If your TikTok For You page looks anything like mine, you’ve heard of the ice cream blending machine called the Ninja Creami. When I tested it, I was impressed by some aspects, but had some serious doubts about safety and longevity. Here’s why →

Persons: you’ve

☆ Oil ticks down on interest rate hike fears
▼ + stars: | 2023-06-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Summary Rate hike expectations boost fears of slow economic growthWeak economic data in China weighs on sentimentHOUSTON, June 29 (Reuters) - Oil prices edged lower on Thursday, as fears that rising interest rates could dent global economic growth and crude demand offset a bigger-than-expected fall in U.S. inventories. Brent crude futures fell 38 cents, or 0.5%, to $73.66 a barrel by 1127 a.m. Investors were concerned about rising interest rates and economic growth after Federal Reserve Chair Jerome Powell reiterated that he expects the moderate pace of interest rate decisions to continue in the coming months. "Crude traders remain torn between rising interest rates with fears of a global recession against elevated travel demand and shrinking crude supplies," said Dennis Kissler, senior vice president of trading at BOK Financial. "The lack of prospects for fuel demand growth has limited the gain in oil prices, even with supply curbs by oil producers," said Tetsu Emori, CEO of Emori Fund Management Inc.

Persons: Jerome Powell, Dennis Kissler, Christine Lagarde, Tetsu Emori, Ahmad Ghaddar, Yuka Obayashi, Jason Neely, David Evans, Barbara Lewis, David Gregorio Our Organizations: Brent, . West Texas, U.S . Energy Information Administration, Investors, Federal Reserve, BOK Financial, European Central Bank, Emori Fund Management Inc, Thomson Locations: China, HOUSTON, European, Saudi Arabia, OPEC, London

☆ The Number of Homeless People in Los Angeles Increases by 9%
▼ + stars: | 2023-06-29 | by ( Jill Cowan | ) www.nytimes.com time to read: +4 min

The increase in Los Angeles mirrors trends playing out in cities across the country, including Phoenix, as a housing shortage has led to rising costs, squeezing families. In Los Angeles, volunteers fan out over a couple of nights each January to visually count people who appear to be living outdoors or in vehicles. Washington, D.C., has already reported an increase of 11 percent, while the Phoenix area said its homeless population was up 7 percent. Los Angeles is hardly the only American city to struggle with homelessness, but its homeless population is disproportionately large, and about 30 percent of the nation’s homeless population lives in California. As a result, Los Angeles is a kind of large-scale test case for which solutions work and which don’t.

Persons: Karen Bass, ”, Adams, Bass, ” Ms Organizations: University of California, Homeless, Washington , D.C Locations: Los Angeles, Phoenix, San Francisco, California, Washington ,, Chicago, New York, Los Angeles County

☆ Texas Heat Wave 2023: How to Prevent Power Outages - The New York Times
▼ + stars: | 2023-06-29 | by ( Michael E. Webber | ) www.nytimes.com time to read: +2 min

As of 2021, that program included about 43,000 controllable thermostats that help make a small dent in peak demand. Utilities have a lot to gain from these programs, including more control over the grid and avoiding the costs and many years involved with building new power plants. And we all benefit from the emissions and fuel costs we avoid by not having to fire up backup power plants in a heat wave. We have designed our system to ramp power plants up and down to deal with peak demand. But we need to flip our thinking — we need to adjust demand to the capacity of the power plants.

Persons: they’re, you’re Organizations: Utilities Locations: Austin , Texas, Austin, United States

☆ Climate event El Niño could hit the economy from food prices to clothing sales this year
▼ + stars: | 2023-06-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

But that’s not the only effects expected: Combined with climate change, El Niño this year could dent US economic growth, potentially impacting everything from food prices to the winter clothing sales. Higher food prices are a common theme across El Niño events, according to a recent Deutsche Bank report. Dry weather has parched crops in El Salvador as the El Niño weather threatens food security. The last time there was an El Niño in 2018 through 2019, NOAA dubbed it “The Great Puny El Niño” due to its relatively weak impact on weather conditions. He projects that El Niño weather events could cause $84 trillion in economic losses in the 21st century.

Persons: Niño, that’s, ”, Christopher Callahan, ” Christopher Callahan, El, Lesley, Ann Dupigny, Giroux, Yi Yu, Linh Pham, Winters, Yu, Callahan, Simeon Siegel, “, Chris Scheuring, “ It’s, Camilo Freedman Organizations: CNN, Oceanic, Atmospheric Administration, NOAA, Dartmouth, Southern, University of Vermont, University of California, Southwestern, Vietnam Electricity Group, Bloomberg, Getty, Deutsche Bank, BMO Capital Markets, Dupigny, US Federal Aviation Administration, California Farm Bureau, La Union, Prediction Locations: Niño, University of California Irvine, Asia, Australia, Southwestern United States, Tri An, Vinh Cuu, Dong Nai Province, Vietnam, United States, rainier, El, Pasaquina, La, El Salvador

☆ How the Shortage of a $15 Cancer Drug Is Upending Treatment
▼ + stars: | 2023-06-26 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

The nation’s monthslong shortage of highly potent cancer drugs is grinding on, forcing patients and their doctors to face even grimmer realities than those cancer typically presents. Thousands of patients like Mr. Shepard have been confronting gut-wrenching options, delays in treatment and potentially bleaker futures. Oncologists are concerned that the alternatives to two crucial chemotherapy drugs are far less effective in treating certain cancers, and are sometimes more toxic. Some companies that sell the medications are projecting that the shortage will last through the fall or later. So far, neither a group of experts organized by the Biden administration nor prominent medical organizations have found a way to avoid rationing the crucial chemo drugs.

Persons: Shepard, Biden, chemo Locations: China

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