DIRS.INFO The most relevant business & tech news

Trump mishandled classified documents that included information about the secretive U.S. nuclear program and potential domestic vulnerabilities in the event of an attack, the federal indictment said. Unauthorized disclosure of classified documents posed a risk to U.S. national security, foreign relations, and intelligence gathering, prosecutors said. Former U.S. President and Republican presidential candidate Donald Trump attends a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. The indictment also alleges Trump conspired with Nauta to keep classified documents Trump had taken from the White House and hide them from a federal grand jury. The case does not prevent Trump from campaigning or taking office if he were to win the November 2024 presidential election.

Persons: Donald Trump, Trump, John Rowley, Jim, Walt Nauta, Jack Smith, Smith, General Merrick Garland, Trump’s, Matt Bennett, Joe Biden, Biden, Brian Snyder, Lago, Nauta, Aileen Cannon, Cannon, Sarah N, Lynch, Jonathan Stempel, Jack Queen, Jacqueline Thomsen, Karen Freifeld, Nathan Layne, Heather Timmons, Nandita Bose, Andy Sullivan, Noeleen Walder, Howard Goller Organizations: U.S, White House, The Justice Department, Trump, Republican, Reuters, Democratic, Former U.S, REUTERS, White, Mar, Pentagon, CIA, National Security Agency, Department of Energy, Prosecutors, Defense Department, FBI, TRUMP, AS, Democrat, Biden, Thomson Locations: Lago, Florida, Miami, United States, U.S, Former, Manchester , New Hampshire, New Jersey, Mar, New York, Georgia

☆ One of the government's biggest initiatives to make it easier to take out student loans for grad school backfired and made tuition more expensive
▼ + stars: | 2023-06-09 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Graduate student debt now accounts for 47% of new student loans, according to the Congressional Budget Office. Federal graduate student loans have no effective cap unlike undergraduate loans, which are capped at $57,500 in Federal Student Aid. This has been the case since 2006, when federal graduate student loans were capped at $18,500. The average student debt for a master's degree for the 1999-2000 school year came in at $36,600, compared with $55,540 in 2016. The bipartisan debt-ceiling deal mandates student loan payments must resume by Aug. 30.

Persons: Biden's, —, Sandra Black, Lesley Turner, Jeffrey Dunning, Joe Biden's, Donald Trump, Trump, Biden Organizations: Street, Service, Research, Grad PLUS, Universities, Congressional, Federal, Federal Student Aid, Congress, CBO, Grad, Biden, Secretary, Republican, Street Journal, White, Politico, Department Locations: Texas

☆ Saudi's crown prince promised pain for the US if it retaliated against oil cuts, report says. His threat seems to have paid off.
▼ + stars: | 2023-06-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Saudi Arabian Crown Prince Mohammed bin Salman threatened the US amid an oil price dispute, leaks say. The crown prince is seeking to assert a more independent path from the US. In turn, Crown Prince Mohammed has mocked Biden behind his back, reported The Wall St. Journal, and believes he can secure nuclear technology from the US by playing rival powers off against each other. But Cafiero told Insider that despite marked differences and apparent personal antipathy between Biden and Crown Prince Mohammed, the Saudis remain committed to working with the US. "While the crown prince wants to work with Washington, he doesn't want anyone in the US to view Saudi Arabia as America's puppet state," he remarked.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman, —, State Anthony Blinken, Saudi Arabia's Crown Prince Mohammed bin Salman, Joe Biden, Biden's, it's, Biden, Giorgio Cafiero, Mohammed bin Salman, Cafiero, Jamal Khashoggi, Prince Mohammed Organizations: Saudi, Saudi Arabian Crown, Service, State, Saudi Arabia's Crown, State Department, CNN, The Washington Post, US, Washington , D.C, White House, White, Analytics, Biden, Washington Post, ., Washington Locations: Saudi Arabian, Riyadh, Saudi, Russia, Washington ,, China, Washington, Gulf, Saudi Arabia, Kingdom, America

☆ Take Five: Skip, stop or go?
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Leah Millis/File PhotoJune 9 (Reuters) - It's a week of the central bank heavies with the U.S. Federal Reserve, European Central Bank and Bank of Japan meeting. The Fed is tipped to stop with rate hikes (for now), the ECB, to keeping going (for now), while the BOJ remains in stop mode (for now). U.S. inflation numbers, Chinese data and a crunch moment for UBS and Credit Suisse means there's plenty happening. 1/ A LOT GOING ONMarkets get not one but two headline events with U.S. May inflation data out on Tuesday as the Fed kicks off its two-day meeting. For now, markets price in just one more increase this year, an outlook investors seem comfortable with, judging by the recent strong performance of U.S. stocks.

Persons: Leah Millis, Li Gu, Kevin Buckland, Ira Iosebashvili, Yoruk, Noele, Kazuo Ueda, Ueda, culls, Dhara Ranasinghe, Rae Wee, John O'Donnell, John Stonestreet Organizations: Federal Reserve, REUTERS, U.S . Federal Reserve, European Central Bank and Bank of Japan, ECB, UBS, Credit Suisse, U.S, Reuters, Reuters Graphics Reuters, Thomson Locations: Washington , U.S, Li, Shanghai, Tokyo, New York, Amsterdam, Zurich, China, China's, Swiss, Singapore, Frankfurt

☆ From restaurants to water towers, unrest dents Senegal's economy
▼ + stars: | 2023-06-09 | by ( Sofia Christensen | ) www.reuters.com time to read: +3 min

An attack on a state-owned water plant could create shortages in Dakar, where it hasn't rained for eight months and where water cuts are common, Diome said. Bus company Dem Dikk, which is part state owned and whose beige buses are recurring targets during protests, partially resumed services this week. Attacks on its buses have cost the company over $7 million since March 2021, CEO Ousmane Sylla told Reuters. Stalled operations can cost Dem Dikk up to $80,000 in losses per day and make it tricky for thousands of commuters to get to work. "It is creating unemployment," he said, adding that it was already difficult for graduates to find jobs before the unrest.

Persons: Ousmane Sonko, Antoine Felix Abdoulaye Diome, Diome, Read, Ousmane Sylla, Dem, Sylla, . University student Mbodj, Saint Louis, Ngouda Dione, Sofia Christensen, Edward McAllister, Sharon Singleton Organizations: KFC, Sedima Group, International Labour Organization . Bus, Reuters, . University student, Thomson Locations: DAKAR, Senegal, Dakar, Mbour, Keur Massar, Saint

Concluding his visit on Thursday, Secretary of State Blinken told reporters he raised human rights issues with Saudi officials and "made clear that progress on human rights strengthens our relationship." "Human rights are always on the agenda of the United States - that’s who we are," he said during a news conference. But some rights advocates argue the golf deal shows the administration has chosen geopolitics over human rights. New York-based Human Rights Watch (HRW) says scores of human rights activists and dissidents are in prison or on trial in Saudi Arabia and that the repression "spiked" following Biden's visit last year. The list included prominent cleric Salman al-Odah, children of former spy chief Saad al-Jabri, human rights defender Mohammed al-Qahtani and aid worker Abdulrahman al-Sadhan.

Persons: Saudi Crown Prince Mohammed bin Salman, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, LIV, Antony Blinken, Blinken, Biden, Seth Binder, Prince Faisal bin Farhan, Sarah Yager, Salman al, Saad al, Mohammed al, Abdulrahman, Saad Ibrahim Almadi, Tess McEnery, Humeyra Pamuk, Simon Lewis, Arshad Mohammed, Don Durfee, Daniel Wallis Organizations: Saudi Crown, Al, Saudi Royal Court, REUTERS, Saudi, Public Investment Fund, North, MbS, PGA, East Democracy, Biden, Rights Watch, Saudi Foreign, U.S, Twitter, Thomson Locations: Jeddah, Saudi Arabia, Bandar, REUTERS RIYADH, WASHINGTON, U.S, Riyadh, Washington, United States, Yemen, New York, China, Israel, OPEC, Russia, Florida

☆ Indonesia, Malaysia aim to fight 'discrimination' against palm oil
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

The EU passed a law this year banning imports of commodities linked to deforestation, a move that is expected to hurt palm oil. Indonesia and Malaysia are the world's top two producers and exporters of palm oil, a commodity used in everything from lipstick to pizza. In a joint statement, the two leaders vowed to cooperate closely to address the EU's "highly detrimental discriminatory measures against palm oil". Indonesia is the biggest source of foreign labour for Malaysia, with many Indonesians working in palm oil plantations. Reporting by Rozanna Latiff in Kuala Lumpur, Ananda Teresia in Jakarta; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Anwar Ibrahim, Jokowi, Rozanna, Kanupriya Kapoor Organizations: European Union, EU, Malaysian, Ananda, Thomson Locations: KUALA LUMPUR, Malaysia, Indonesia, Kuala Lumpur, EU, Brussels, United States, Ananda Teresia, Jakarta

☆ Merck Sues Over Law Empowering Medicare to Negotiate With Drugmakers
▼ + stars: | 2023-06-06 | by ( Rebecca Robbins | ) www.nytimes.com time to read: +1 min

The pharmaceutical company Merck on Tuesday sued the government over a federal law that empowers Medicare for the first time to negotiate prices directly with drugmakers. Democrats pushed through the Medicare-negotiation program last summer as a provision of the Inflation Reduction Act, framing it as a way of lowering drug prices. Only some drugs will be subject to negotiation with Medicare and only after they have been on the market without competition for years. But Merck, which generated $14.5 billion in profit last year, claimed in a statement on Tuesday that the law would stifle its ability and that of its peers to make risky investments in new cures. Other drug companies have suggested that they will choose to cut certain drug development programs because of the projected dent to their revenue.

Organizations: Merck, Medicare Locations: Washington

☆ 10 Things in Tech: Hello, Apple Vision Pro
▼ + stars: | 2023-06-06 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

The Nerd Helmet, as coined by The Wall Street Journal's Joanna Stern, has arrived! Apple on Monday unveiled its first hardware release in almost a decade: The $3,499 Vision Pro mixed-reality headset. But while Meta has aimed to make VR/AR affordable for the masses, with limited success, Apple is squarely aiming the Vision Pro at early adopters and developers. Apple's Vision Pro headset has an exterior "EyeSight" display to make your eyes visible to others around you. Say hello to the Vision Pro.

Persons: Lara O'Reilly, Joanna Stern, Apple, Let's, Tim Cook, Bob Iger, Elizabeth Holmes, Justin Sullivan, Linda Yaccarino, Elon Musk, Sam Altman, Altman, OpenAI, Binance, Changpeng Zhao, Bernstein, Hollywood's, Roy Rochlin, Craig Federghi, Jack Sommers Organizations: Apple, Meta, Apple's Worldwide, Conference, Vision, Getty, Twitter, Venture, Sequoia, US Securities and Exchange Commission, Alliance, Producers, Hollywood, New York Stock Exchange, Wall, nab, Wall Street Locations: London, ChatGPT

☆ It’s Called the Grand Canyon, Not the Eternal Canyon
▼ + stars: | 2023-06-06 | by ( Raymond Zhong | ) www.nytimes.com time to read: +1 min

When I was there with the scientists, we talked about this human dent, but we also talked a lot about geology. About how mundane, ever-churning forces like plate tectonics, weather and gravity, when applied over long enough time scales, can cause colossal changes to landscapes and rocks. At any point in time, the world we see is somewhere in between being created and being destroyed. The Grand Canyon as we know it is pretty young by geologic standards, only about six million years old. You can read my full article from the canyon here.

Persons: you’re, they’re Locations: Colorado

The outlook was little changed for Britain and in India where prices have kept rising. Adam Challis, executive director of research and strategy for EMEA at JLL, said strong wage gains over the past year had kept many housing markets resilient despite significantly higher borrowing costs. Peak-to-trough falls for nearly all housing markets surveyed were downgraded from the March poll. British and U.S. house prices were expected to fall around 3% and Australia's to be flat for the full year 2023. Average house prices are expected to rise about 6% in India.

Persons: Mike Blake, Goldman Sachs, Adam Challis, hasn't, Hari Kishan, Prerana Bhat, Jonathan Cable, Anant Chandak, Sarupya Ganguly, Indradip Ghosh, Vivek Mishra, Milounee, Susobhan Sarkar, Devayani, Vijayalakshmi Srinivasan, Ed Osmond Organizations: KB, REUTERS, EMEA, Thomson Locations: Valley Center , California, U.S, BENGALURU, Canada, Germany, Australia, New Zealand, Britain, India, JLL

☆ New York's Tribeca Film Festival seeks to tell 'untold stories'
▼ + stars: | 2023-06-05 | by ( Daniel Fastenberg | ) www.reuters.com time to read: +2 min

[1/2] Actor Robert De Niro attends the screening of a 4K version of the film "Heat" during 2022 Tribeca Festival at United Palace Theater in New York, U.S., June 17, 2022. REUTERS/Eduardo Munoz/File PhotoNEW YORK, June 5 (Reuters) - With an emphasis on diversity in content and storytellers, New York's Tribeca Film Festival kicks off on Wednesday, with highlights including documentaries about actor Rock Hudson and news anchor Dan Rather. Tribeca Film Festival was co-founded in 2001 by American actor Robert De Niro to help revitalize lower Manhattan following the September 11 attacks on the World Trade Center. "One of the things about Tribeca is we have such a diverse offering of stories and filmmakers," co-creator Jane Rosenthal told Reuters ahead of the festival launch. "I think a lot of that has always stemmed from Bob (De Niro), always looking for those interesting, interesting untold stories."

Persons: Robert De Niro, Eduardo Munoz, Rock Hudson, Dan Rather, Jane Rosenthal, De Niro, Rosenthal, Bucky Dent, David Duchovny, Dan Fastenberg, Rosalba O'Brien, Diane Craft Organizations: United Palace, REUTERS, Tribeca, World Trade, New York, Thomson Locations: New York, U.S, American, Manhattan, Tribeca, Hudson, New

☆ Over 40% of Gen Z are investing because they're driven by FOMO, survey finds
▼ + stars: | 2023-06-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Over 40% of Gen Z are investing because they're driven by FOMO, a new survey shows. In trying to meet financial goals, over 80% of American Gen Z started investing before the age of 21. That climbs to 60% of Gen Z in China who started investing because of FOMO. Over 80% of Gen Zers in the US and UK began investing before the age of 21 as well as 79% of Canadians and 63% of Chinese Gen Z investors. Only 7% of Gen Z in China started investing before they were 18 years old.

Persons: Z, —, Zers, Gen Xers, Gen, Gen Z, Gen Zers Organizations: Service, CFA Institute, Financial Industry, Authority Investor Education Foundation, Deloitte Locations: Canada, China

☆ Senegal government cuts mobile internet access amid deadly rioting
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +2 min

[1/3] A supporter of Senegal opposition leader Ousmane Sonko walks near a burning barricade during clashes with security forces after Sonko was sentenced to prison, in Dakar, Senegal, June 3, 2023. REUTERS/Zohra BensemraDAKAR, June 4 (Reuters) - Senegal's government has cut access to mobile internet services in certain areas because of deadly rioting in which "hateful and subversive" messages have been posted online, it said in a statement on Sunday. It extended the outage on Sunday to include all data on mobile internet devices in certain areas and at certain times, the statement said. "Because of the spread of hateful and subversive messages ... mobile Internet is temporarily suspended at certain hours of the day," the statement said. Reporting by Bate Felix Writing by Edward McAllister Editing by David Holmes and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Ousmane Sonko, Sonko, Macky Sall's, Bate Felix, Edward McAllister, David Holmes, Frances Kerry Organizations: REUTERS, Amnesty, Thomson Locations: Senegal, Dakar, DAKAR, Africa, Egypt, Tunisia, Libya, Gabon, Gambia, Democratic Republic of Congo

I should've known better than to travel during the holidays, and I paid the cost for doing it anyway. I let my travel partner plan the trip, and a delayed flight meant that all his plans went awry. The trip cost me thousands of dollars and put me off international travel. My ill-fated trip to Morocco in 2019 put the final nail in the coffin of my romantic relationship and a nasty dent in my finances. The impossibly brisk pace of the trip and the time difference meant that our cancelled flight resulted in thousands of dollars lost on cancelled hotels, tours, and transportation.

Persons: —, I'd, Mercedes, we'd Organizations: Service Locations: Morocco, Montreal, Old, Toronto

☆ Trump on tape: Here’s what it means and what’s next
▼ + stars: | 2023-06-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Most people recall the “Access Hollywood” tape of Trump using vulgar language to argue that “stars” can grab women. It also adds his Bedminster club to the potential locations where Trump had classified documents after leaving office. In response to the report, a Trump campaign spokesman said “leaks” are meant to “inflame tensions” around Trump. (The document Trump references was not produced by Milley, CNN was told.) Besides the ongoing investigations into the aftermath of the 2020 election, here’s what else is looming over Trump.

Persons: Donald Trump’s, Trump, Joe Biden’s, Jack Smith, who’s, ”, Elie Honig, Jake Tapper, ” Trump, undercuts, Smith, CNN’s Katelyn Polantz, Paula Reid, Kaitlan Collins, Mark Milley, Susan Glasser, Milley, CNN’s Haley Britzky, ” Beth Sanner, “, CNN’s Kaitlan Collins Organizations: CNN, GOP, Trump, Department of Justice, ” CNN, Joint Chiefs, Staff, Milley, Chiefs, National Intelligence Locations: New York, Georgia, Peach State, Bedminster, Trump, Iran, Milley, New Hampshire

☆ Investing in Space: Virgin Galactic still has a big hurdle to clear for commercial service
▼ + stars: | 2023-06-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

After Virgin Galactic last week flew its final developmental spaceflight, which it crowned successful, it'd be easy to think the space tourism company is at a turning point. But the Virgin Galactic story is not about its first operational spaceflight, as long-awaited as that may be. Virgin Galactic sold about 600 tickets at $250,000 or less, representing the majority of its total reservations. Yes, Virgin Galactic has nearly $900 million in cash and securities to continue to cover losses in the meantime. Colglazier has described Delta as "the economic engine" for Virgin Galactic, estimating revenue of over $2.7 million per flight.

Persons: CNBC's Michael Sheetz, it's, It's, Elon, Michael Colglazier, Colglazier, Beth Moses, Moses, Delta, he's, bode, Galactic's, Shepard Organizations: Virgin Galactic, SpaceX, Elon Musk's, VSS Unity, VSS, Virgin Locations: that's, Virgin, Everest

Average house prices as measured by the S&P CoreLogic Case-Shiller composite index of 20 metropolitan areas were forecast to stagnate next year. "Looking ahead, we think there is scope for prices to fall a little further. "Given supply is likely to stay tight, there is a risk house prices may not fall as much as we previously expected." The 30-year fixed mortgage rate, currently around 6.7%, was expected to average 6.2% in 2023. Those high mortgage rates are restricting housing supply, which puts upward pressure on prices, as well as demand.

Persons: Sam Hall, haven't, Sal Guatieri, Indradip Ghosh, Prerana Bhat, Aditi Verma, Maneesh Kumar, Jonathan Cable, Ross Finley, Sharon Singleton Organizations: stagnating, Reuters, U.S . Federal Reserve, Capital Economics, BMO Capital Markets, Thomson Locations: BENGALURU

☆ I stayed in a VRBO with a shocking list of checkout chores. I'm an Airbnb host myself, and I worry it gives our industry a bad name.
▼ + stars: | 2023-05-27 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

An Airbnb host photographed the checkout chore list at an Ohio VRBO she stayed in this month. During a recent stay in home she booked via vacation-rental site VRBO in Cleveland, Ohio, she encountered a list of chores to be completed before checkout. She photographed the sign and shared it with other short-term-rental hosts on Facebook, where her post received hundreds of comments. We just weren't going to do hours and hours of laundry. I understand it's impossible for a cleaning person to do hours and hours of laundry in a single day.

☆ A telco billionaire gave $1,000 each to 2,500 Boston college graduates and encouraged them to donate half of it, calling it a 'gift of giving'
▼ + stars: | 2023-05-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Robert Hale, the founder, and CEO of Granite Telecommunications, gave 2,500 graduating students $1,000 each. But he called on the graduates to donate half of the gift, or $500, calling it the "gift of giving." He isn't the only billionaire donating to college students. He then urged them to donate half of the gift, or $500, calling it the "gift of giving," according to media reports, including NBC Boston. In May 2022, Hale gifted $1,000 each to 150 graduates at the Roxbury Community College in Boston, per NBC Boston.

☆ Consumer spending is slowing, but these two Club retailers are well-positioned to ride out the storm
▼ + stars: | 2023-05-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

First-quarter earnings results from retailers this season have shown softer discretionary spending to be the primary headwind facing companies across numerous retail categories. If consumer spending declines too precipitously, it could help tip the U.S. economy into recession. The wholesale retailer's monthly comparable-sales reports have shown Costco shoppers scaling back on discretionary items and prioritizing consumer staples. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Shoppers wait in a check-out line at a Costco wholesale store in Orlando, Florida.

Persons: Mary Dillon's, Jim Cramer, Jim, we're, HomeGoods —, TJX, Jim Cramer's, Paul Hennessy Organizations: TJX Companies, Costco Wholesale, Lowe's Companies, Target, Walmart, Club, Fed, Ross, Costco, BJ's Wholesale Club Holdings, CNBC, Shoppers, Getty Locations: U.S, Orlando , Florida

☆ S.Korea tells China ambassador it hopes for continued economic cooperation
▼ + stars: | 2023-05-19 | by ( Choonsik Yoo | ) www.reuters.com time to read: +1 min

SEOUL, May 19 (Reuters) - South Korea's finance minister on Friday met the Chinese ambassador and discussed economic cooperation, as diplomatic tensions with Beijing put an additional dent on the already sluggish economy. The ministry said in a short message after the 30-minute meeting that Minister Choo Kyung-ho expressed his hopes for continued economic cooperation between the two countries on the basis of reciprocity and mutual respect. Choo, South Korea's highest economic and financial policymaker, also asked for support for preparations ahead of a bilateral economic ministers' meeting this year in Seoul, the statement added. The ministry did not disclose remarks by Ambassador Xing Haiming during the meeting, which was held after South Korea's ambassador to Washington said early this month Seoul would soon pursue senior-level engagements with Beijing. Share prices of South Korean companies with exposure to China business rose on Friday, with media content producer CJ ENM (035760.KQ) jumping 2.5% and online game developer Netmarble (251270.KS) rising 1.5%.

☆ Ukrainian frontline commander 'Witch' explains why they're so determined to hold on to Bakhmut: 'We are exhausting them morally and psychologically'
▼ + stars: | 2023-05-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

Ukraine has faced questions about why it will not retreat from Bakhmut, now mostly held by Russia. With Russian forces now holding the majority of the city, Ukrainian President Volodymyr Zelenskyy has faced questions over whether Ukraine can — or even should — try to hold on to the city. Junior Lieutenant mortar platoon commander Olga Bigar of the Ukrainian Territorial Defense Forces. Junior Lieutenant mortar platoon commander Olga Bigar of the Ukrainian Territorial Defense Forces. But with "even a few units" of precise, modern weapons Ukraine has "a tangible advantage" over Russian forces, she said.

☆ Target expects to take a $500 million hit this year due to missing inventory, and says shoplifting and organized crime is largely to blame
▼ + stars: | 2023-05-17 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Target says it expects to take a $500 million hit in profits this year because of missing inventory. It said that this is largely due to theft and organized crime. Inventory shrink refers to when the company has fewer products on its shelves than what is reported in its inventory. Last November, the company said that missing inventory had cost it $400 million in profits so far that year and that this number could reach $600 million by year-end. According to research from the National Retail Federation, retail shrink cost retailers $94.5 billion in 2021, up from $90.8 billion in 2020.

☆ How the debt ceiling showdown could play into China’s hands and weaken US global power
▼ + stars: | 2023-05-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

One way to raise the debt ceiling might be to build a coalition of Republicans and moderate Democrats to isolate the extremists in his own party. “I cannot in good conscience support a debt ceiling proposal that pushes people into poverty,” Fetterman said. The length of a debt ceiling raise could also be an issue. Many Democrats want a deal that pushes the politically perilous need to raise the debt ceiling past the next election. Potentially, both chambers could vote on a short-term extension to raise the debt ceiling to allow time for more negotiations.

Search resuls for: "" Dent"

25 mentions found