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One of the plants where children worked, SMART Alabama LLC in rural Luverne, Alabama, is a direct Hyundai subsidiary. STATE AND FEDERAL INVESTIGATIONSFollowing Reuters' first story on child labor at SMART last July, as many as 10 Hyundai suppliers in Alabama have been under investigation by state or federal authorities for child labor violations, Reuters reported in December. In the shareholder letter, Chang reiterated that Hyundai was "discouraging" suppliers from relying on such staffing agencies in the future. He wrote that staffing firms who hired children to work at Hyundai supplier plants had provided false employee documentation. Earlier this month, thirty-three members of Congress urged DOL to seek strong and swift penalties against those responsible for child labor in the Hyundai supply chain.

☆ Watch CNBC's interview with Rosenberg Research's David Rosenberg
▼ + stars: | 2023-02-24 | 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 EmailWatch CNBC's interview with Rosenberg Research's David RosenbergDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss his thoughts on what to expect from rate hikes and the market in 2023.

A year from Russia's invasion of Ukraine, fracturing geopolitics seems to be rolling back world trade links and financial interdependence at speed. But global financial conditions - and the strength of the U.S. dollar as a proxy for that - may be playing a bigger part than the more dramatic political narrative lets on. "A stronger dollar tends to go hand in hand with tighter global financial conditions and more subdued supply chain activity." Compensating somewhat for dollar exchange rate strength over the decade were historically low real dollar borrowing rates. There's little doubt that the pandemic and the geopolitics surrounding Ukraine and Taiwan have been major potential disruptions to world trade by themselves.

Review: Is the Discover it Cash Back the Best Credit Card for You? For example, you could look at a no-annual-fee card that offers a flat cash rewards rate on all purchases, like the Wells Fargo Active Cash® Card, which earns 2% cash rewards on spending. Insider's Featured Cash Back Credit Cards Discover it® Cash BackCiti® Double Cash CardWells Fargo Active Cash® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How to Earn Rewards With the Discover it Cash Back CardTo earn the most cash back with the Discover it® Cash Back, you'll have to activate the rotating bonus categories each quarter through your online Discover account. How to Use Discover Cash Back RewardsThe best way to redeem your Discover it® Cash Back rewards is usually as a statement credit, which lowers your balance, or simply take the cash as a direct deposit to your bank account.

☆ Biden to roll out new asylum restrictions at U.S.-Mexico border -sources
▼ + stars: | 2023-02-21 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

[1/3] Migrants queue near the border fence, after crossing the Rio Bravo river, to request asylum in El Paso, Texas, U.S., as seen from Ciudad Juarez, Mexico January 5, 2023. REUTERS/Jose Luis GonzalezWASHINGTON, Feb 21 (Reuters) - The Biden administration could bar tens of thousands of migrants arriving at the U.S.-Mexico border from claiming asylum if they passed through another country en route to the United States without seeking protection, according to a proposed regulation rolling out on Tuesday, five sources told Reuters. The proposed restrictions, which seek to deter people from crossing the border without authorization, will be subject to a 30-day public comment period and then reviewed before final publication, two of the sources said. While Biden initially pledged to restore asylum access that was curtailed under Republican former President Donald Trump, he has increasingly embraced Trump-style restrictions. Biden's plan to ban certain asylum seekers mirrors similar efforts under Trump that were blocked by federal courts.

☆ Reuters wins George Polk Award for uncovering child labor in Hyundai supply chain
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Cheney OrrNew York, Feb 20 (Reuters) - A team of Reuters reporters on Monday won a George Polk Award for reports that revealed the widespread use of child labor among suppliers to Hyundai Motor Co in the U.S. state of Alabama. The Polk jury, awarding the prize in its "state reporting" category, said Reuters "sparked increased scrutiny from federal and state agencies and led Hyundai to demand more accountability from its suppliers." Also in February, Hyundai itself said it was in discussions with the Labor Department to resolve concerns about the child labor. After discovering that staffing agencies hired child workers for employment in Alabama poultry plants, they learned that migrant minors were also building parts for Hyundai and Kia (000270.KS). Both companies have said they don't tolerate child labor and are taking measures to ensure underage workers don't find their way back into their supply chains.

☆ George Santos's elaborate lies has seen the Congressman compared with a 19th-century huckster. History bears that out.
▼ + stars: | 2023-02-20 | by ( Allegra Rosenberg | ) www.businessinsider.com time to read: +15 min

My obsession is summed up pretty well by a tweet from @blagojevism: "George Santos is essentially a 19th-century character. Media depicting these characters found inspiration from real life: in a time before digital records and facial recognition, opportunity was everywhere. George Santos's brand of full-throated scammery is particularly American, something that belongs to this country as much as Abraham Lincoln and apple pie. The phrase "and if you believe that, I've got a bridge to sell you" comes from his legendary real-life method. But Santos, so far, has avoided jail time, giving him at least one leg up over the Yellow Kid.

☆ A recession could be 'deeper than expected' this year, says analyst—here's what it means for your money
▼ + stars: | 2023-02-18 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Raheel Siddiqui, senior research analyst at Neuberger Berman, told CNBC Make It a recession in 2023 "will be more severe than expected." The labor market is strong, too, with a tiny unemployment rate of 3.4%. "In a plain-vanilla recession, earnings go down 20%. And when economic downturns occur at the same time as deflation, you can expect a larger-than-normal drop in earnings, Siddiqui said. The bottom quartile is entering a recession," Siddiqui said.

☆ Rosenberg Research's David Rosenberg calls 'no landing' a nice fairy tale
▼ + stars: | 2023-02-17 | 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 EmailRosenberg Research's David Rosenberg calls 'no landing' a nice fairy taleDavid Rosenberg, Rosenberg Research founder, joins 'The Exchange' to discuss the latest inflation data and how he believes the Fed will react.

Signing up for a new high-yield savings account online can take as little as five minutes. Compare high-yield savings account optionsShop around for the best high-yield savings account that fits your needs. Quick tip: You can read our article about what a savings account is to learn more about savings account features. On your online account, you'll be able to see account balances, make transfers from one account to another, and see your transaction history. There are three main things to consider when choosing a savings account: APY A high APY is especially important if you are looking for a high-yield savings account, rather than a regular savings account at an in-person bank.

☆ Ex-Mexico drug czar helped Sinaloa cartel's 'cocaine empire,' U.S. prosecutor says
▼ + stars: | 2023-02-15 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

REUTERS/Jane RosenbergNEW YORK, Feb 15 (Reuters) - A former Mexican law enforcement official once in charge of the country's battle against drug trafficking helped the Sinaloa cartel build a "global cocaine empire" in exchange for millions of dollars in bribes, a U.S. prosecutor said on Wednesday. "These leaders paid the defendant bribes for protection - and they got what they paid for," Komatireddy said, referring to Guzman and two other top-ranking Sinaloa cartel figures. Garcia Luna, she said, "used his official government position to make millions of dollars for himself from the people he was supposed to prosecute." Garcia Luna, one of the highest-ranking Mexican officials ever accused of helping drug cartels, led Mexico's Federal Investigation Agency from 2001 to 2005 and was public security minister from 2006 to 2012. Guzman was sentenced to life in prison in 2019 following his conviction in Brooklyn on drug trafficking and murder conspiracy charges.

☆ 'Big Short' investor Michael Burry reveals new bets on Alibaba, MGM, and JD.com
▼ + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Michael Burry built new stakes in Alibaba, JD.com, and MGM Resorts last quarter. The investor of "The Big Short" fame may have spied value in beaten-down Chinese tech stocks. The investor of "The Big Short" fame bought 50,000 American Depositary Shares (ADS) of Alibaba, valued at $4.4 million on December 31. He also scooped up 75,000 American Depositary Receipts (ADR) of JD.com, worth $4.2 million at the end of last year. Burry's Scion Asset Management also purchased 100,000 shares of MGM, a position worth $3.4 million at last quarter's close.

☆ The artificial intelligence war has Wall Street in a frenzy over Google, Microsoft, and anything related to bots
▼ + stars: | 2023-02-13 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

In case you missed it, last week Microsoft held an event that had the buzz of a Steve Jobs iPhone launch. Google Bard VS OpenAI ChatGPT displayed on Mobile with Openai and Google logo on screen seen in this photo illustration. In this two-horse race, Google certainly didn't do itself any favors in bumbling its own AI demo last week. But the battle will ultimately come down to Microsoft and Google, according to venture capitalist Vinod Khosla. Record highs for the stock market are within reach this year, according to Fundstrat.

☆ A $162,500 per year Swiss boarding school — possibly the world's most expensive — says it's embracing AI tech like ChatGPT to help students learn
▼ + stars: | 2023-02-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

The Swiss boarding school's director told Insider it is embracing AI tech like ChatGPT and DALL-E.She says banning ChatGPT is "mass hysteria," and students need to be taught the ethics of AI. The Swiss boarding school, which says it is "possibly" the world's costliest, requires a non-refundable fee of over $1,000 just to apply. Another student used DALL·E to generate pictures in an essay about the role of women in the First World War. The AI didn't score more than a C."I would say that if you're getting C level answers from ChatGPT, you're asking the wrong question," Gademann adds. "Can you imagine a scenario where we're throwing millions and millions of dollars to find out if a student used a calculator in math homework in the '80s?"

☆ Tens of thousands take to streets of Israel opposing proposed judicial overhaul
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +2 min

[1/5] Israelis protest against Prime Minister Benjamin Netanyahu's new right-wing coalition and its proposed judicial reforms to reduce powers of the Supreme Court, in Tel Aviv, Israel February 11, 2023. REUTERS/Ilan RosenbergJERUSALEM, Feb 11 (Reuters) - Tens of thousands of Israelis took to the streets on Saturday for a fifth week of protests against judicial overhaul plans by Prime Minister Benjamin Netanyahu's new government which critics say threaten democratic checks on ministers by the courts. "We are ...very proud of our democracy and he wants to make Israel something else. We will not agree, we will do everything in our power to stop it," Hadar Weis, 61, told Reuters at the protest in Tel Aviv. Israel's N12 news released a poll on Saturday revealing that 62% of Israelis want the proposed judicial plans to be either paused or halted all together.

In a letter addressed to Secretary of Labor Marty Walsh, the group of Democratic lawmakers, led by Michigan Congressman Dan Kildee, pressed the department "to take immediate action to rid Hyundai's supply chain of child labor." The news agency reported that state and federal authorities were investigating as many as ten suppliers for potential child labor violations there. In their letter to Walsh, the lawmakers commended the Labor Department for its enforcement actions in the matter so far. After Reuters' first story about child labor at SMART last July, the department and Alabama state authorities launched a probe into the supplier. The lawmakers said they want the Labor Department to take further action because "additional automotive parts suppliers for Hyundai, mainly in Alabama, are also suspected of child labor violations."

☆ U.S. officials prepping legislation to revamp asylum system
▼ + stars: | 2023-02-09 | by ( Ted Hesson | ) www.reuters.com time to read: +4 min

"It's a total rethink of the approach and is not constrained by current laws," one of the DHS officials said. Blas Nunez-Neto, a top DHS policy official, is one of the people leading the legislative effort, according to one of the DHS officials and another person familiar with the matter. The new Biden asylum bill could also potentially incorporate a requirement that migrants seek asylum in countries they pass through if protections are available elsewhere, the third person familiar with the effort said. The Biden administration has said it wants to end Title 42 and replace it with a more established rapid deportation process known as "expedited removal." U.S. officials since last year have pressed Mexico to accept non-Mexicans via expedited removal once Title 42 terminates, two U.S. officials told Reuters.

"We share Congresswoman Sewell's view that the use of child labor is unacceptable," Hyundai said. Sewell's comments are the first from a high-ranking Alabama official on child labor problems in Hyundai's supply chain. The new actions by Hyundai and its discussions with regulators and lawmakers come after Reuters documented child labor in various Alabama auto plants making parts for Hyundai or Kia. The child labor reports have put a spotlight on Hyundai's growing operations in the United States. Regulatory fines for child labor, by contrast, can be relatively small.

☆ Make these 4 undervalued investments now while the stock market rally unwinds after a red-hot jobs report, according to the investment chief at Cambria Funds
▼ + stars: | 2023-02-07 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

The economist continued: "And it's not the level of the unemployment rate that matters as far as the economic cycle is concerned — it's the change in the unemployment rate. He told Insider in a recent interview that investors should target value stocks and foreign equities, specifically Chinese stocks and those in emerging markets. For most of the past decade, value stocks were unloved while growth names went on an explosive rally. But now value stocks have made a major comeback, while growth picks have melted down. When picking stocks, Faber said he's especially interested in two qualities: a stock's valuation and momentum.

☆ U.S. VP Harris highlights $4.2 bln private sector investment in Central America
▼ + stars: | 2023-02-06 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

REUTERS/Jonathan ErnstWASHINGTON, Feb 6 (Reuters) - Private companies have committed to invest $4.2 billion in northern Central America as part of an effort by U.S. Vice President Kamala Harris to reduce migration by targeting economic development, the White House said on Monday. In her remarks on Monday, Harris said migrants come to the United States to flee harm or because they cannot meet basic economic needs. Before a meeting with U.S. officials and private sector representatives, Harris announced a new phase of the effort called Central America Forward, which will focus on broader economic development, corruption and labor rights. Arrivals from northern Central America have steadily declined following a sharp rise in 2021 after Biden took office. Reporting by Ted Hesson in Washington; Editing by Mica Rosenberg, Chizu Nomiyama and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. VP Harris touts $4.2b private sector investment in Central America
▼ + stars: | 2023-02-06 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 6 (Reuters) - Private companies have committed to invest $4.2 billion in northern Central America as part of an effort by U.S. Vice President Kamala Harris to reduce migration, the White House said on Monday. Harris focused her efforts on addressing the factors that led migrants to leave the three countries, known as the northern triangle, including a lack of economic opportunity. Corruption and governance concerns in the three nations have limited the effectiveness of the Harris push, leading to the cancellation or suspension of projects likely worth millions of dollars. Arrivals from northern Central America have steadily declined since mid-2021. Reporting by Ted Hesson in Washington; Editing by Mica Rosenberg and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ 8 investments to make now as the Federal Reserve risks a recession by going 'way overboard' in raising interest rates, according to 7 top economists and strategists
▼ + stars: | 2023-02-02 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Since March, Rosenberg has warned that by trying to crush inflation, the Fed would inadvertently kill the economy as well. "I think that the odds now are that it's going to be more severe than people think because the Fed has gone way overboard," Rosenberg said of a recession. The contrarian view: With inflation falling, a recession is no guaranteeHowever, not every strategist thinks that a recession is a sure thing. But what I think we can see is the Federal Reserve is overdoing it and eventually, the Fed will have to cut rates." Fittingly, Parker's bets are contingent on his view that the US economy won't suffer from a severe recession.

☆ A Floridian is leaving for Portugal because he said pollution, traffic, and overcrowding have turned his home of 20 years into a rotten paradise
▼ + stars: | 2023-02-02 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +4 min

Victor Zubriski, 74, is leaving the Boca Raton area after 20 years and moving to Portugal. According to Redfin, the median sale price in Boca Raton is $585,000, an increase of nearly 17% from this time last year. The median rent in Boca Raton has increased $339 from the same time last year to a median of $3,675, according to Zillow. That's 75% higher than the national median rent of $2,097. Miami Herald/Getty Images"The essential factor down here in Boca Raton is overcrowding," he said.

☆ Close to 1,000 migrant children separated by Trump yet to be reunited with parents
▼ + stars: | 2023-02-02 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 2 (Reuters) - Nearly 1,000 migrant children separated at the U.S.-Mexico border by the administration of former President Donald Trump have yet to be reunited with their parents despite a two-year effort by President Joe Biden. The U.S. Department of Homeland Security (DHS) said on Thursday of the 998 children still separated, 148 were in the process of reunification. Biden, a Democrat, issued an executive order shortly after taking office in January 2021 that established a task force to reunite children separated from their families under Trump, a Republican and immigration hardliner, calling such separations a "human tragedy." The Trump administration split apart thousands of migrant families under a blanket "zero-tolerance" policy that called for the prosecution of all unauthorized border crossers in spring 2018. To date the task force has reunited 600 families.

☆ 3 people share why they're paying as much as $4 million to live on a cruise ship all
▼ + stars: | 2023-01-31 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +8 min

The Storylines MV Narrative luxury cruise ship is poised to set sail in 2025. StorylinesBut like a commercial cruise ship, residents of the MV Narrative will have plenty to do. Holt said when he signed on in 2021 to live aboard, the annual fee for a single guy like himself was $72,000 a year. Holt plans to give up his Virginia rental and live aboard the ship full time. Angela NuranThe MV Narrative won't set sail until 2025, but Angela Nuran and Paul Cosentino are ready.

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