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☆ Robinhood launches crypto transfers in Europe as it pushes overseas expansion
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Retail investing platform Robinhood on Tuesday announced that it's offering customers in Europe the ability to transfer cryptocurrencies in and out of its app, broadening its product capabilities in the region as it presses ahead with international expansion. In December last year, Robinhood launched its crypto trading service, Robinhood Crypto, in the EU for the first time. Once MiCA is fully in place, Kerbrat said, every EU country will fall under the same unified regime. "In terms of total addressable market, [the EU] is as big as the U.S.," he told CNBC, adding, "it's definitely an interesting market for us." Robinhood is rolling out new features in the EU at a time when U.S. crypto firms are sparring with regulators at home.

Persons: Robinhood, Robinhood Crypto, Johann Kerbrat, Kerbrat Organizations: European Union, CNBC, EU, Securities and Exchange Commission Locations: Europe, ethereum, solana, EU, Crypto, U.S, Robinhood

FoundersCard is an exclusive membership for startup founders, CEOs, entrepreneurs, and innovators. Beyond personal benefits, it can provide direct, tangible benefits to the business or project that you're trying to grow. FoundersCard Membership BenefitsFoundersCard offers a wide range of benefits that can be loosely broken into three categories: savings and discounts, VIP treatment and perks, and exclusive events. British Airways offers FoundersCard members up to 10% off most round-trip fares between the US or Canada and the UK. FoundersCard is a private membership club offering access to exclusive benefits and networking opportunities for entrepreneurs and business professionals.

Persons: — there's, —, FoundersCard, Eric Kuhn, it's, MOO, General Assembly —, isn't, David E, David Organizations: Cathay Pacific, British Airways, . Alaska Airlines, Continental, JetBlue, Mint, American Airlines, Qantas, Australian, Emirates, Singapore Airlines, Apple, General Assembly, Business, Chevron, Yorker, Muhlenberg College, University of Edinburgh, Twitter Locations: Austin, Canada, Continental US, Hawaii, Australia, New Zealand, East, Asia, Africa, Chevron, Slotnick, Scotland

☆ Bitcoin tumbles back to the $60,000 level as tensions in the Middle East heighten
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Around 4:45 p.m. Eastern time, bitcoin slid to as low as $60,175. Crypto exchange Coinbase dropped about 1% and bitcoin proxy MicroStrategy lost 2%, after closing lower by 7.4% and 3.5%, respectively. Stock Chart Icon Stock chart icon Crypto assets tumble to start October and the fourth quarterRising tensions in the Middle East dampened investors' risk appetite as the new trading month and quarter began. "Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar's strength, casting a shadow over bitcoin and other speculative investments," said Chris Kline, chief operating officer and co-founder of Bitcoin IRA. "Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies."

Persons: Jonathan Raa, Cryptocurrencies, bitcoin, Coinbase, MicroStrategy, Hassan Nasrallah, Chris Kline Organizations: Nurphoto, Getty, bitcoin, Metrics, International Longshoremen's Association, Gulf Coasts Locations: Iran, Israel, Iranian, Lebanon

☆ You could retire with $1 million even if you don't start saving until your 30s: How much money you need to set aside per month
▼ + stars: | 2024-10-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

A sizeable number of Americans hope to retire as millionaires, according to Bankrate's latest savings survey. A little over a third of American workers say they'll need $1 million or more to retire in comfort, per Bankrate's survey. The median amount they think they'll need saved up is about $875,000. And millennials are the most likely of each generational cohort to think they'll need to save up at least $1 million to retire comfortably. With that in mind, CNBC calculated how much you would need to save each month in order to retire with $1 million at 65, starting at ages 25, 30, 35 and 40.

Persons: Matt Schulz Organizations: CNBC

☆ CNN launches a digital paywall, charging some users to read articles for the first time
▼ + stars: | 2024-10-01 | by ( Brian Stelter | ) edition.cnn.com time to read: +4 min

New York CNN —CNN, one of the most popular news websites in the world, is starting to ask some of its visitors to pay $3.99 a month for access. The average visitor to CNN’s website, who may only read a few articles a month, will not be prompted to pay at this time. “Only after users consume a certain number of free articles will they be prompted to subscribe,” MacCallum explained. Under previous management, CNN developed a streaming video product called CNN+ in 2022 to create direct-to-consumer relationships with fans of the network. Some content, though, will remain fully accessible without a subscription, including the CNN homepage; breaking news live stories; standalone video pages; and sponsored articles.

Persons: ” Alex MacCallum, “, ” MacCallum, Mark Thompson, Thompson, Greg Piechota, ” Piechota, Piechota, ” Organizations: New, New York CNN, CNN, The New York Times, CNN.com’s, ”, Warner Bros, Reuters Institute for, Journalism, University of Oxford, International News Media Association, Media Locations: New York, United States

☆ Galaxy CEO Mike Novogratz: The next big jolt to bitcoin will be options that trade on ETFs
▼ + stars: | 2024-10-01 | 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 EmailGalaxy CEO Mike Novogratz: The next big jolt to bitcoin will be options that trade on ETFsGalaxy founder and CEO Michael Novogratz joins 'Squawk Box' to discuss state of the crypto market, impact of the Fed's interest rate decision on the price of bitcoin, state of the 2024 election, and more.

Persons: Mike Novogratz, Michael Novogratz Organizations: Email Galaxy, Galaxy

☆ CVS Health to lay off nearly 3,000 workers in cost-cutting drive
▼ + stars: | 2024-10-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +1 min

London CNN —CVS Health is planning to cut about 2,900 jobs in an effort to slash costs, the US health care company said Tuesday. The layoffs represent less than 1% of CVS Health’s (CVS) workforce. In 2021, CVS Health announced that it would close around 900 stores between 2022 and 2024. US drug store chains are struggling because of falling reimbursement rates for prescription drugs, according to analysts who cover the industry. Dollar General’s growth has also hurt drug store chains in rural areas.

Persons: “ We’ve, ” Organizations: London CNN, CVS, CVS Health, “, Amazon, Walmart, Target, Costco Locations: United States

SKIP AHEAD What to shop on Prime Day | What to skip shopping on Prime Day | Prime Day v.s. Clothing and footwear: Anything related to fashion typically doesn’t stand out in terms of the best savings during Prime Day, says Shand. How to save the most money during Prime DayPlanning is key to saving during Prime Day. Additionally, Prime card members can earn 10% back or more on select Prime Big Deal Days deals with Amazon’s Prime Card Bonus. I’m an associate updates editor at NBC Select, where I’ve covered Amazon Prime Day for five years.

Persons: Mackenzie Shand, I’ve, Shand, “, ”, they’re, you’re, Vipin Porwal, you’ll, “ You’re, We’ve, it’s, you’ve, Porwal, There’s, TikTok Organizations: Deal, NBC, Echo, Prime, Amazon, Black, Target, Walmart, July’s, Amazon’s, Big Deal, Facebook, Twitter

☆ 37% of couples use cash wedding gifts for the down payment on a new home, report says
▼ + stars: | 2024-09-30 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

More couples than ever before, 87%, reported including cash funds in their wedding registry, according to recent data from Zola. Of couples collecting cash, 37% are putting that money toward purchasing a house. With today's housing market, it's clear why couples are funneling wedding gifts into a down payment. If you're coming into a substantial financial windfall due to a wedding, or any other scenario, here's the best place to stash your potential down payment cash. "If a client of mine walked in with $30,000 of wedding money, I would say, 'Let's buy you a bond,'" he says.

Persons: Homebuying, Douglas Boneparth, Mark La Spisa, let's Organizations: Bone, U.S Locations: Zola, New York City, Vermilion

☆ This is the cost of carrying too much cash, according to Wells Fargo
▼ + stars: | 2024-09-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Americans' love affair with cash may be costing them in the long run, according to Wells Fargo. A record $6.42 trillion is sitting in money market funds, as of Wednesday, according to the Investment Company Institute . The seven-day annualized yield on the Crane 100 list of the 100 largest taxable money funds is currently 4.75%. During Fed rate decreases, direct money market investments, like Treasury bills, will absorb the cuts quicker than money market funds. "A long-term risk of relying on money market funds as a sizable allocation is the cash drag over our strategic time horizon," she said.

Persons: Peter Crane, Crane, Michelle Wan, Wan, Wells Fargo, Brian Rehling Organizations: Investment Company Institute, Federal Reserve, Crane Locations: Wells Fargo

☆ Stocks making the biggest moves premarket: Nio, Stellantis, MicroStrategy and more
▼ + stars: | 2024-09-30 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Nio – U.S.-listed shares surged more than 13% after the Chinese electric vehicle maker announced it will receive a cash injection of 13.3 billion yuan for its Nio China. "Strategic investors" will provide 3.3 billion yuan of that injection, with the rest coming from Nio Inc. The transactions, which are expected to be completed by the end of this year, will reduce Nio Inc.'s stake in Nio China to 88.3%, down from 92.1%. This also spurred a broader rally among China stocks, which saw their best day of trading since 2008 . Rocket Lab – Shares rose more than 3%, extending the more than 12% gains seen during Friday's session.

Persons: Nio, Ford, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, —, Lisa Kailai Han, Sarah Min, Tanaya Macheel Organizations: Nio Inc, KeyBanc, CVS, Street Journal, Glenview Capital Locations: Nio –, China, Glenview, East, Gulf Coast

☆ Young Chinese are looking for dupes and cheaper substitutes for everything from Hermès to travel
▼ + stars: | 2024-09-30 | by ( Huileng Tan | Matthew Loh | ) www.businessinsider.com time to read: +9 min

Chinese consumers are opting for affordable alternatives across various categories to save money. The trend, known as pingti, is driven by economic challenges and is popular among young people. Consumers are finding cheaper substitutes for luxury goods, everyday items, and even healthcare. It's now become a trend in China to save on nearly every consumer category, from luxury goods to everyday consumables to travel, with cheaper substitutes. A Bank of America survey of 1,052 adult Chinese consumers showed weakening consumer sentiment, with 30% of respondents planning to spend more — down from 45% in June.

Persons: —, It's, Bobbi Brown, Estée Lauder, MingYii Lai, it's, Lindy, Hermes Lindy, Lai, Ruth Jin, Xiaohongshu Cleo Xie, they've, She's, Xie, Jin, Yves Saint Laurent, Keith, she's Organizations: Service, Daxue Consulting, Bottega, Prada, University, Dai, PPI, Bank of America Locations: China, Xiaohongshu, Beijing, Ili, Xinjiang, Provence, France, Xishuangbanna, Laos, Myanmar, Bangkok, Thailand, Chengdu, Europe, Asia

☆ A millennial couple details how they went from $150,000 in debt to a net worth of $1.5 million in a decade without elite jobs or risky investments
▼ + stars: | 2024-09-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Lawrence Delva-Gonzalez and his wife went from being $150,000 in debt to having a net worth of $1.5 million. AdvertisementLawrence Delva-Gonzalez, 41, was $150,000 in debt in 2012, working a job that paid $27,000 a year. A little over a decade later, he and his wife grew their net worth to over $1.5 million. By 2017, the two of them could pay down debt to the point of having a net worth of zero. Their net worth grew to over $450,000 in January 2021, over $650,000 in January 2022, over $800,000 in January 2023, and $1.53 million in August 2024, according to his blog The Neighborhood Finance Guy.

Persons: Lawrence Delva, Gonzalez, —, maxed, Delva, Doreen, Finance Guy, hasn't Organizations: Service, FIRE, Florida State University, Marine Corps, Public, Finance Locations: Haiti, Delva, Port, Miami, Black

☆ Bitcoin and crypto stocks sink after last week's rally, but still head for a positive September
▼ + stars: | 2024-09-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Crypto stocks Coinbase slid 5% and MicroStrategy fell 2%. Bitcoin and crypto stocks retreated on the final trading day of September, following a rally last week, but are still poised to post a positive month. The combined net buying volume of U.S. bitcoin ETFs last week (16,774 BTC) exceeded a typical one-month supply of newly mined bitcoin (13,500), according to Bitwise-owned ETC Group. For the month, bitcoin is on pace to finish its strongest September ever with an 8% gain and its second positive September – historically the cryptocurrency's weakest month – in a row. The market is heading into a seasonally strong quarter for crypto and risk assets broadly.

Persons: cryptocurrency, Coinbase, MicroStrategy Organizations: Metrics, Analysts, BTC, People's Bank of China, U.S Locations: Coast, Gulf

☆ Stocks making the biggest moves midday: EchoStar, CVS Health, Stellantis and more
▼ + stars: | 2024-09-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.'s stake in Nio China to 88.3% from its current 92.1%. CVS Health — Shares jumped 3.3% on news that hedge fund Glenview Capital intends to meet with CVS Health's executives to boost the struggling business. Crypto stocks — Stocks tied to the price of bitcoin retreated with the cryptocurrency following a sizeable rally last week. Cumberland Hospital for Children and Adolescents is an "indirect subsidiary" of Universal Health Services, according to an 8-K filing.

Persons: Nio, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, EchoStar, Piper Sandler, Stephen Scouten, — CNBC's Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh Organizations: Nio Inc, GM, Ford, CVS, —, Glenview Capital, CNBC, DirecTV, Amerant, Moderna, Universal Health Services, Cumberland Hospital for Children Locations: U.S, China, Glenview, Florida

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

☆ I grew up undocumented in a red state. I now have my dream career after receiving DACA — but my childhood was full of fear.
▼ + stars: | 2024-09-30 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +8 min

Javier R. Quiroz Castro came to the US when he was three and applied for DACA when he was 22. In 2013, at 22, I applied for DACA — deferred action for childhood arrivals — and was given a work authorization card, enabling me to pursue a career in nursing. AdvertisementMy parents didn't have Social Security numbers or credit lines, so they always paid in cash. AdvertisementI applied for DACA, which opened doors for me to work legally in the USA year before I graduated from nursing school, President Obama announced DACA. AdvertisementThe US needs good people who work hard, and that's what a lot of my people want to do.

Persons: Javier R, Quiroz Castro, Quiroz, —, Javier, Obama, DACA —, I'm, I've, didn't, they'd, couldn't, DACA, Biden, haven't, Joe Biden, Trump Organizations: Service Locations: Houston , Texas, Mexico, Nashville, Houston

☆ 2024 Election: Crypto Bros Could Swing Votes Toward Kamala or Trump
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. In September, he unveiled his own crypto venture, World Liberty Financial. The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.80%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are near 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's, they've, They'll, refinance Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. I imagine your wife doesn't view it as a tragedy. If you can't live this way, then something has to change, and your wife must open her heart to this. Write to For Love & Money using this Google form .

Persons: —, she's, it's, we're, I've, you'll, doesn't Organizations: Business, Service

☆ Op-ed: Your kids need a Roth IRA. It's the 'golden egg' savings vehicle for young people
▼ + stars: | 2024-09-29 | by ( Winnie Sun | ) www.cnbc.com time to read: +4 min

How a Roth IRA for kids worksYes, kids can have their own Roth IRA — and, just like for adults, the IRS rules are pretty straightforward. There's no minimum age requirement for contributing to a Roth IRA; if a child can earn money, they can have a Roth IRA. watch nowMore about those income requirements: To contribute to a Roth IRA, the child must have earned income. Why I like the Roth IRA for youngstersI think of the Roth IRA as the "golden egg" savings vehicle for young people because not only is the account tax-sheltered, it also has the beneﬁt of liquidity. Establishing a Roth IRA for youngsters is a powerful way to set them on the path to financial security.

Persons: Roth Organizations: Roth IRA, IRS, Social Security

☆ A Gen Xer with a master's degree has been looking for a job for 9 years. He's slowly running out of money.
▼ + stars: | 2024-09-29 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Despite having a bachelor's and master's degree in chemistry — and sending out countless applications — Putro said he's had little luck in the job market. Putro shared his job search strategies — and why he's unsure whether his age is helping or hurting him on his job hunt. AdvertisementAfter losing his job, Putro didn't immediately start applying for jobs. Over the past decade, Putro said he's applied "irregularly" for jobs — anywhere between zero and 40 applications in a given month. He said he's not sure whether being 55 years old is helping or hurting him in the job market.

Persons: Chris Putro, hasn't, —, he's, Putro, I've, it's, Putro didn't, Putro hasn't Organizations: Service, La Salle University, UCLA, LinkedIn, CBS, NBCUniversal Locations: Los Angeles

☆ Insider Today: Retirement savings mistakes
▼ + stars: | 2024-09-29 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Getty ImagesRetirement savings no-no'sAbout 45% of Americans will run out of money in retirement — even those who invested and diversified. If you're aiming to retire at the standard age of 65, avoid these mistakes so you can keep your golden years golden. AdvertisementThe four biggest retirement mistakes. And with Meta's smart Ray-Ban glasses doing better than expected, the company appears to be winning the glasses wars.

Persons: —, Alberto E, Rodriguez, Jimmy Donaldson, Donaldson, obsessives, techies, Chris Gash, Zers, Saratta, Tom Brady, Jeff Bezos, Natalie Ammari, Mark Zuckerberg, Orion, aren't, Meta, Sam Altman Organizations: Business, Service, MrBeast, Getty, BI, Billionaire, Big Tech Locations: millennials, Florida

☆ Bull market enters fourth quarter with just about everything going its way
▼ + stars: | 2024-09-28 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

Then there's the upside progress made in the third quarter without the leadership of super-cap tech – the equal-weighted S & P 500 is up nearly 9% since June 30 and the Nasdaq 100 up less than 2%. Goldman Sachs here plots the S & P 500 forward P/E at the time of each initial rate cut in a cycle. For sure, a breather would make sense for the broad market, with the S & P 500 up 11 of the past 15 days. In either case, it's a notable deviation from the story of placid strength being told by the S & P 500 itself. The median Wall Street strategist target for the S & P 500 is now well below the current index level, usually not something one sees at an ultimate market peak.

Persons: Scott Chronert, isn't, Goldman Sachs, it's, John Kolovos, Bitcoin's Organizations: Nasdaq, Citi, Fed Locations: China

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