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Since Harris kicked off her presidential campaign, there’s been a string of good news for the US economy. Harris will have Biden’s mostly strong economy to run on. By June 2021, Biden’s sixth month in office, the nation’s inflation rate jumped to more than 5%. After the Federal Reserve hiked interest rate hikes to a 23-year high to stamp out inflation, the economy — eventually — started to run at a slower pace. The Biden administration canceled $168 billion in student loan debt for 4.8 million Americans.
Persons: Joe Biden, Biden, Kamala Harris, Harris, there’s, Biden’s, , hasn’t, Evan Vucci, Eros Hoagland, Getty, Lina Khan, Jonathan Kanter, Stocks Organizations: CNN, White House, House, Federal, Trump, Biden, Federal Reserve, Gross, Commerce Department, of Labor Statistics, Infrastructure Investment, Jobs, AFL, National Labor Relations Board, United Auto Workers, Union, AP Relief, American, ARPA, Medicare, University of North, Hill, Apple, Google, Federal Trade Commission, Department, FTC, Activision, Big Tech, Justice Department, Fed Locations: Ukraine, Van Buren Township , Michigan, University of North Carolina, America, Valley, Silicon Valley
Work hours are more flexibleMany workplaces are flexible and allow employees to choose a schedule that fits their lifestyle. Some people, depending on the industry and their tenure at their job, can have up to 38 paid vacation days a year. For example, both parents are offered paid leave and they can decide when to use them in different amounts. If your kid is sick and you need to leave work to care for them, that is not just accepted but encouraged. In many cases, this can be considered a sick day for the parent as well and can be paid leave.
Persons: workdays, you'll, Ventoniemi There's, I've Organizations: U.S Locations: Finland, Kilpisjärvi, Lapland
Opinion | Kamala Harris and the Audacity of Desperation
  + stars: | 2024-07-27 | by ( Ross Douthat | ) www.nytimes.com   time to read: +2 min
Since then we’ve watched cracks spread throughout this edifice, dividing groups and institutions that once seemed to move in lock step. These fault lines include the split between a more ideological academic culture, where wokeness seems entrenched, and corporate and media realms, where its hold has somewhat weakened. They include the divisions between donors, university administrators and activists exposed and heightened by the Hamas attacks and the Israel-Gaza war. This means money: a surge of tens of millions of dollars into Democratic coffers. It means star power, whether through endorsements or just associations: Olivia Rodrigo and George Clooney, Charli XCX and Beyoncé.
Persons: Donald Trump’s, Trump, Joe Biden’s, Kamala Harris’s, Nate Silver, Olivia Rodrigo, George Clooney, Charli, Harris, Biden, Organizations: Democratic Party, Trump, Democratic Locations: Israel, Gaza
The GOP, under presidential candidate Donald Trump, could seek to extend the 2017 Tax Cuts and Jobs Act. In the abstract, one can argue that tax cuts and deregulation are good for business. However, further unfunded tax cuts would add to the nation's deficits and debt. He has also pushed for raising the corporate tax rate to 28%. Currently, that rate is at 20%, plus a 3.8% net investment income tax for high earners.
Persons: we've, Donald Trump, Trump, Biden, Eisenhower, Kamala Harris, Joe Biden Organizations: GOP, Wall, United, Bureau of Labor Statistics, Observers, White, Trump, Biden, Federal Reserve Locations: Washington ,, United States, U.S, America
The economics of the Olympics
  + stars: | 2024-07-26 | by ( Alicia Wallace | Alex | Leeds Matthews | ) edition.cnn.com   time to read: +12 min
“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.
Persons: , Victor Matheson, , “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, , Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, , Lake Placid , New York, Lake Placid, , Los Angeles, Oklahoma
Google drops Amazon's One Medical
  + stars: | 2024-07-26 | by ( Eugene Kim | ) www.businessinsider.com   time to read: +5 min
Read previewFor years, Google was the largest business customer of One Medical, the primary care provider Amazon acquired for $3.9 billion. Since purchasing One Medical, Amazon has embarked on a number of cost-cutting moves, including layoffs and office closures, as BI previously reported. That means Google's health insurance will be accepted at One Medical offices, though Google employees will have to pay for their own memberships going forward. Advertisement"One Medical is proud of the care we have provided to Google employees at a small number of locations on Google campuses, virtually, and in our hundreds of community offices near where many Google employees live, work, and shop," Amazon's spokesperson said in a statement. In a statement to BI, Amazon's spokesperson said One Medical continues to see "very strong growth," while Amazon's broader healthcare business is "growing robustly."
Persons: Organizations: Service, Google, Amazon, Business, ONEM, Care, BI, Health
The stock market is gearing up for its rate cut era
  + stars: | 2024-07-26 | by ( Krystal Hur | ) edition.cnn.com   time to read: +4 min
Data Thursday showed the economy expanded at a robust 2.8% annualized rate during the second quarter, blowing past economists’ expectations. While the Fed has penciled in just one rate cut for this year, traders are betting on up to three, according to the CME FedWatch Tool. While the market was broadly higher on Friday, the S&P 500 and Nasdaq on Wednesday logged their worst daily performances since 2022. Shares of smaller companies tend to perform poorly when rates are high, since they have more floating rate debt than their larger counterparts. Investors are also picking at other areas of the market poised to gain when rates come down.
Persons: , Dow, Russell, Stephen Lee Organizations: New, New York CNN, Federal Reserve, Big Tech, Nasdaq, MRB Partners, YouTube, Logan Capital Locations: New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Emhoff said that Vance's remarks show he doesn't appreciate the reality of a modern family. Emhoff's daughter, Ella Emhoff, and his ex-wife, Kerstin Emhoff, had already teed off on Vance over previously coming after their family. The Democrats are in complete disarray with the most unpopular Vice President in history as their party's nominee," Van Kirk said in a statement to Business Insider. I've got nothing against dogs," Vance told former Fox News anchor Megyn Kelly on her podcast.
Persons: , Doug Emhoff, Sen, JD Vance, Ohio, Vance, Kamala Harris, Jennifer Aniston, Emhoff, Preet Bharara, Kirsten, Ella, Ella Emhoff, Kerstin Emhoff, Cole, Harris, Kamala, Doug, Taylor Van Kirk, Van Kirk, they've, Tucker Carlson, Emhoff's, I've, Megyn Kelly, Donald Trump Organizations: Service, Business, CNN, Senate, Democratic, Fox News, Democratic Party, Republican Party
London CNN —The head of one of the world’s biggest hedge funds says artificial intelligence systems are unlikely to replace traders anytime soon. London-based Man Group, whose assets under management hit an all-time high of $178.2 billion during the first six months of the year, makes its money by charging investors management and performance fees. “I don’t think of AI as making investment decisions anytime soon,” Grew said. In the interview with CNN, Grew said the era of rock-bottom interest rates that broadly defined the decade following the 2008 financial crisis had made way for a period of “volatility and dispersion” ushered in by the rise in inflation after the pandemic. In other words, traders navigating a volatile market can expect to make a greater range of — and possibly bigger — returns across various assets than during more stable times.
Persons: Robyn Grew, ” Grew, , Grew Organizations: London CNN, CNN, Man Group, Surgeons, , London Stock Exchange Locations: London
Sen. JD Vance, the running mate of former President Donald Trump, on Friday defended his comments accusing key Democrats — including Vice President Kamala Harris — of being miserable "childless cat ladies" who want to "make the rest of the country miserable too," as well as anti-family and anti-kids. Vance has been under fire for days after the "cat ladies" remark resurfaced online following the Ohio Republican's nomination as the party's vice presidential candidate. I explicitly said in my remarks," Vance said. At the time Vance made his remarks Buttigieg was in the process of adopting twin babies with his partner. A month after his comment in 2021, Vance appeared on Tucker Carlson's now defunct-show on Fox News — Kelly's former employer — and expanded on it.
Persons: Sen, JD Vance, Donald Trump, Kamala Harris —, Vance, Trump, I've, Megyn Kelly, , it's, Harris, Pete Buttigieg, Cory Booker, Alexandria Ocasio, Douglas Emhoff's, Buttigieg, Tucker Carlson's, Fox News —, We're, they've, Kamala Harris Organizations: Ohio, Democratic, Intercollegiate Studies Institute, Transportation, Fox News Locations: Ohio, Alexandria, Cortez
GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.
Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg
Read previewWith a few pen strokes, Donald Trump could make many of Elon Musk's problems go away. But Musk also stands to gain with a new administration controlling federal regulations. But with Trump as president, Musk wouldn't even need to dismantle the so-called "administrative state" to get federal agencies out of his way. As president, Trump could direct the Justice Department and other executive agencies to drop any actions against Trump and his friends' businesses, Gernhardt told BI. Existing federal laws from the EPA and Department of Interior could be relaxed, Blanchard said.
Persons: , Donald Trump, Elon, Musk, Joe Biden, Trump, JD Vance —, Michael Gerhardt, Gernhardt, Jilian Blanchard, Blanchard, Gerhardt Organizations: Service, Business, University of North, SEC, SpaceX, Justice Department, Good Government, National Environmental, EPA, Department of Interior, Securities, Exchange Commission, Twitter, Interior Department Locations: Ohio, Silicon, University of North Carolina, Chevron, Texas
Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla " Tesla AI Infrastructure 'base' is by far the fastest rising part of its asset base." Morgan Stanley downgrades WW International to equal weight from overweight Morgan Stanley downgraded the company formerly known as Weight Watchers due to concerns about free-cash flow. Morgan Stanley initiates CervoMed as overweight Morgan Stanley said it's bullish on shares of the biotech company. " Morgan Stanley downgrades STMicroelectronics to equal weight from overweight Morgan Stanley downgraded the stock following earnings. Morgan Stanley reiterates Meta as overweight Morgan Stanley said buy the dip in shares of Meta.
Persons: Redburn, Lockheed Martin, Raymond James, Apple, it's, Morgan Stanley, Tesla, Piper Sandler, Alexander, Baldwin, Piper, ALEX, TD Cowen, Morgan Stanley downgrades STMicroelectronics, Baird, Meta, Guggenheim, Oppenheimer, Sweetgreen, Stifel, Jefferies, Rosenblatt Organizations: Deutsche Bank, Airlines, Deutsche, Lockheed, Apple, Citi, Amazon, AMC, International, Dianthus Therapeutics, Meta, " Bank of America, underperform Bank of America, Barclays, Microsoft, Aviation, Security, Nvidia, Qualcomm, Pharmaceuticals Locations: NYC, Brunswick
"I had no reason to move here because my whole family, everyone was back in India," Bajaj said. She said interviews in India focus on past experience, while in the US, you are expected to sell yourself and talk about what you can bring to the table. In India, she said work place was very much a "community" where her coworkers were her best friends. Bajaj and Shah said they both had to learn the boundaries of professionalism in the US. Advertisement"You can do 18 hours of work in India because all you are doing is working," Bajaj said.
Persons: , Priya Bajaj, Bajaj, Bajaj's, Darshan Shah, Shah, it's, hadn't Organizations: Service, Google, Sony Pictures, Business, Bajaj Locations: India, Mumbai, America
Jessica Cuevas loved her job as a college counselor at a high school. She had been relying on her mother for help, but her parents have been spending more time in Mexico, leaving her without an affordable and reliable child care option. Ms. Cuevas, who is 35 and lives in Chicago, works part time from home for an education nonprofit, though the work is sporadic and the pay is inconsistent. She wants a full-time job — in part so she and her husband can buy a bigger house — but she is concerned that the expense of child care would wipe out any financial upside. “I feel like right now, considering the economy, considering just the cost of living, we feel stuck,” she said.
Persons: Jessica Cuevas, Cuevas, Locations: Mexico, Chicago
Without Peter Thiel, Vance does not get anywhere near the US Senate. And in Silicon Valley, the conservative movement is much stronger, and more muscular than it was before. AdvertisementThere's this narrative, promoted by people like Thiel, that Silicon Valley is super-liberal. Because Silicon Valley has conservative roots in addition to roots in the counterculture. AdvertisementLike I said, the liberal nature of Silicon Valley has always been sort of overplayed.
Persons: , I'm, Donald Trump, Vance, Peter Thiel —, Max Chafkin, who's, Thiel, Peter Thiel's, Trump, JD Vance, Narya, It's, supercharge, Bill Pugliano, David Sacks, Peter Thiel, revel, that's, he's, Elon Musk, Marc Andreessen, They're, Elon Musk's, Apu Gomes, Steve Jobs, Ben Horowitz Organizations: Service, Republican, Trump, Business, Bloomberg Businessweek, Republican National Convention, YouTube, Ohio Senate, The, Thiel, Twitter Locations: Silicon Valley, Mithril, Narya, Ohio, West Coast, , America, Silicon, San Francisco
New York CNN —LinkedIn co-founder Reid Hoffman is throwing his financial firepower behind Vice President Kamala Harris. Ohio Sen. JD Vance, the GOP nominee for vice president, is a fan. Harris campaign: No discussions on replacing KhanHoffman told CNN he “certainly” hasn’t directly pushed Harris to replace Khan. A Harris campaign aide told CNN that there have been “no policy discussions” about replacing Khan at the current time. That was a mistake,” Hoffman told CNN.
Persons: Reid Hoffman, Kamala Harris, Hoffman, CNN he’s, Harris, United States ’, Lina Khan, “ Lina Khan, ” Hoffman, Joe Biden, , Khan, , Bernie Sanders, Hoffman Khan, Sen, Mr, Hoffman ”, Massachusetts Sen, Elizabeth Warren, Khan . Ohio Sen, JD Vance, Vance, Biden, Khan Hoffman, hasn’t, Brian Fung, Douglas Farrar, Biden Harris, Harris team’s, ” Farrar, Farrar, “ Trump, Donald Trump, Trump, Steven Cheung, George Soros ”, Mark Cuban, Peter Thiel, Thiel, Arizona Sen, Mark Kelly, Josh Shapiro, Gretchen Whitmer, Gina Raimondo Organizations: New, New York CNN, LinkedIn, Biden, Harris, PAC, CNN, Federal Trade, Democratic, Microsoft, FTC, , Big Oil, Big Tech, Forward PAC, GOP, Republican, Activision Blizzard, Mattress, Trump, US Chamber of Commerce, Arizona Locations: New York, United States, America, Vermont, Massachusetts, Khan . Ohio, Pennsylvania, Michigan
Qatar Airways displayed its business class upgrade at Farnborough Airshow near London. Zoom In Icon Arrows pointing outwards Qatar Airways' new business class product, the Qsuite Next Gen', features retractable screens. Rolling out new business class seats across an airline's fleet is usually a lengthy process spanning years, as upgrades are installed in new aircraft and retrofitted onto planes already in service. Qatar Airways' "Qsuite Next Gen" business class seat, showcased at the Farnborough Air Show on July 22, 2024. Qatar Airways
Organizations: England — Airlines, Qatar Airways, Farnborough, CNBC, Boeing, Qatar Locations: FARNBOROUGH, England, London
Nvidia 's slump is hitting some technical milestones that suggest the stock could continue to slide, according to Raymond James. Raymond James chart analyst Javed Mirza said in a July 25 note to clients that Nvidia has triggered a "mechanical sell" signal based on a moving average convergence/divergence indicator, or " MACD ," which measures price momentum — and it is not the only technical signal flashing sell. The key level to watch is Nvidia's 50-day moving average, currently around $118 per share, according to Mirza. "A multi-day close below important technical support at the 50-day moving average … would confirm a new short-term corrective phase was underway. If that view spreads to executives at Big Tech companies such as Alphabet, it could result in new orders for Nvidia slowing down.
Persons: Raymond James ., Raymond James, Javed Mirza, Mirza, — CNBC's Michael Bloom Organizations: Nvidia, Big Tech
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
Breaking Into the Olympics Breaking, sport climbing and skateboarding may seem untraditional, but they embody the true spirit of the games. >> Top: Sunny Choi, who will compete in breaking, quit her corporate job to focus on the Games. Bottom: Victor Montalvo’s signature breaking moves include the back flip into flare and the Super Montalvo. Here in 2024, the Games have added multiple new events, including breaking — popularly known as break dancing — and kayak cross. >> Sport climbing is broken into three formats: speed; bouldering (shorter climbs); and lead, which requires ropes and harnesses.
Persons: you’re, Kronos, Sunny Choi, Victor Montalvo’s, Super Montalvo, , , Stephen Miller, Kroton, Colin Duffy, let’s, Paige Heyn Organizations: Olympic, Super, Wrestling, Boxing Locations: England, North America, Madagascar, Greece, , Athens
If you google "passive income ideas," one of the first strategies that pops up is to buy a rental property. Even those with property managers have described having to "manage the property manager." Buying rental properties is "expensive like a puppy," he added. They've learned that, "the more hands-on you are, the more money you're going to make," said Jervais. One, their long-term rental properties are newer, so they naturally have fewer maintenance requests and upkeep.
Persons: I'm, Matt, it's, Matt H Natia, Jervais Seegars, They've, Karina Mejia, aren't, Mejia, Jervais, Jim Resonable, she'd Organizations: Service, Business, EVO Real Estate Locations: New Hampshire, Boston, Augusta , Georgia, North Carolina , California, Georgia
Two of these people said the aim of the years-long redesign — which also includes a fresh look for the Goldman website — was to give the firm's marketing materials a more "premium" feel. The photo was recently posted on Goldman's LinkedIn page Screenshot from Goldman Sachs' LinkedIn page"The Goldman Sachs wordmark is a piece of custom typography inspired by our heritage," the brand guidelines obtained by BI say. These people say they understand the changes cost Goldman Sachs millions of dollars. A screenshot of Goldman's website redesign plan with the G and the S joined on the right. Now fresher, brighter, and optimized for digital, the new Goldman Sachs blue is the only Goldman Sachs blue."
Persons: , Goldman Sachs, Sachs, Emmalyse, David Solomon, Goldman Sachs wordmark, Goldman, Fiona Carter, Jones Knowles Ritchie —, Burger, Marcus, Reed Alexander Organizations: Service, Business, Goldman, BI, Goldman's, GS, Apple Locations: Goldman, Sachs, British
Las Vegas Review-journal | Tribune News Service | Getty ImagesOn your next visit to Vegas, an extra set of eyes will be watching you if you decide to hop onto the local transit system. Violent crime on transit systems, specifically, remains an issue in major metro areas, with a report released in late 2023 by the Department of Transportation detailing concerns from transit agency officials around the U.S. about rising violence on their transit systems. Atteberry stressed that the ZeroEyes system is not designed to detect lawful, legal firearms that might be in a holster or packed in a purse. "AI technology comes from the data; if we do not capture the data, there is no successful AI," Dei said. ZeroEyesThe Las Vegas transit system is not the only in the nation to use ZeroEyes, but is the first to plan full deployment.
Persons: Tom Atteberry, Brian Miller, Miller, Stephen Paddock, Sam Alaimo, Alaimo, ZeroEyes, Wei Dai, Dei, Paul Gratton Jr, Gratton, Michael Hasse, Hasse, there's, Atteberry Organizations: Regional Transportation, Maryland Parkway, Las Vegas, Tribune, Service, Regional Transportation Commission, Department of Transportation, Bureau of Transportation Statistics, Purdue University Northwest, Zero, Purdue Northwest's Department of Computer Science, Seattle, Purdue Northwest, SEPTA, NYPD, TSA, Systems Locations: Las Vegas, Vegas, Southern Nevada, Hammond , Indiana, Nevada, Lafayette , Louisiana, Clark County , Nevada
Her husband, James, 39, is a freelance musician who earns around $60,000 a year. James said he wants to contribute more toward their lifestyle and retirement goals, but he knows he can't match-up financially. "Geena wants James to be engaged with money. "Taylor wants Steve to want more for himself, to become a financial partner in their relationship," Sethi said. "The solution is to fix your worldview of money and master your own money psychology," Sethi said.
Persons: Geena, James don't, James, I've, Ramit Sethi, Rich, I'm, Sethi, Taylor, Steve, it's, James isn't, James doesn't, he's Locations: New York
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