DIRS.INFO The most relevant business & tech news

☆ The big post-Fed rally could get tested in week ahead: 'A lot holds in the balance' of the next few days
▼ + stars: | 2024-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Dow Jones Industrial Average topped 42,000 this week for the first time ever, while the S & P 500 breached the 5,700 milestone, after the Federal Reserve cut interest rates by a half-percentage point. "A lot holds in the balance of the next couple or few days," said Katie Stockton, founder at Fairlead Strategies. .SPX 5D mountain S & P 500 On Friday, the 30-stock Dow, the S & P 500 and the Nasdaq Composite each closed higher by more than 1% for the week. The breakout is "'pending confirmation,'" Stockton said. Overall, Stockton expects that the longer-term setup for the S & P 500 is "a bit overdone."

Persons: Katie Stockton, Stockton, That's, Sam Stovall, Gee, Christopher Waller, Jerome Powell, Stovall Organizations: Dow Jones, Federal Reserve, Dow, Nasdaq, Stockton, CFRA, Fed, Chicago, PMI, Richmond Fed, New, Micron Technology, Transportation, . Kansas City Fed Manufacturing, Costco Wholesale, PCE Deflator, PCE Locations: . Kansas, Michigan

☆ The Fed surprised many investors with a jumbo rate cut this week. It won’t get much easier to predict the next move
▼ + stars: | 2024-09-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

But Wall Street was mostly clueless this week when it came to predicting how big a rate cut the Fed would deliver on Wednesday. The jumbo half-point cut the Fed ultimately rolled out was not at all what traders expected a week ago. Powell: Fed officials ‘left the size of the rate cut open’ ahead of September meetingIn a closely watched speech at the Fed’s annual economic symposium in Jackson Hole, Wyoming, last month, Powell declared “the time has come” to cut interest rates. That data was apparently enough to spur some Fed officials to reconsider their position. “But we do not expect Fed officials to be intentionally opaque,” said Husby.

Persons: Jerome Powell, Powell, ‘, “, Price, Christopher Waller, ”, Powell’s, Thomas Simons, ” Simons, Michelle Bowman, “ We’re, Andrew Husby, Waller, there’s Organizations: New, New York CNN — Federal, Fed, PPI, CNBC, Jefferies, BNP Locations: New York, Jackson Hole , Wyoming

☆ What TikTok ban? Advertisers, employees, and creators seem unfazed by its increasingly precarious future
▼ + stars: | 2024-09-20 | by ( Lara O'Reilly | Dan Whateley | ) www.businessinsider.com time to read: +6 min

A former Department of Justice attorney told Business Insider this week that the court seemed poised to rule against TikTok. AdvertisementMany TikTok creators appear unconcerned by the prospect of a ban. Others are fighting it: In May, a group of eight TikTok creators filed a lawsuit against the US government over the potential ban. TikTok users turn to the app for more than just entertainment. The current TikTok staffer told BI that they felt that advertisers were paying less attention to TikTok ban news as they've been busy gearing up for the holiday season.

Persons: —, it's, ByteDance, Daniel Openshaw, haven't, TikToker Alex Ojeda, aren't, They're, Emarketer, they've, Kantar, Gonca Organizations: Service, DC, Department of Justice, TikTok, Business, US, Tech, Jovena, Clutch, Expand, Brands, Pew Research Center, . Business, YouTube, Meta, Amazon Locations: Jovena Natal, New York, California, TikTok

☆ Europe automaker shares slump after Mercedes becomes latest to cut 2024 guidance
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama. Mercedes shares fell more than 8% Friday after becoming the latest carmaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the sector. Shares pared losses slightly to trade 6.9% lower as of 9:40 a.m. London time. "This affected the overall sales volume in China including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged versus the first half, and therefore weaker than originally expected," the company said.

Persons: Mercedes Organizations: Benz, Mercedes, Benz US International, Volvo, BMW, Continental Locations: Vance , Alabama, China, London

An American Airlines' Embraer E175LR (front), an American Airlines' Boeing 737 (C) and an American Airlines' Boeing 737 are seen parked at LaGuardia Airport in Queens, New York on May 24, 2024. American Airlines is in talks to make Citigroup its exclusive credit card partner, dropping rival issuer Barclays from a partnership that dates back to the airline's 2013 takeover of US Airways, said people with knowledge of the negotiations. Banks' co-brand deals with airlines, retailers and hotel chains are some of the most hotly contested negotiations in the industry. Carriers have said growth in card spending has far exceeded that of passenger revenue in recent years. While it says it has the largest loyalty program, American was out-earned by Delta there, which made nearly $7 billion in payments from its American Express card partnership last year, compared to $5.2 billion for American.

Persons: Banks Organizations: American Airlines, Embraer, Boeing, LaGuardia Airport, Citigroup, Barclays, US Airways, Consumer Financial Protection, Delta, American Express Locations: Queens , New York

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ Here are Friday's biggest analyst calls: Apple, Tesla, Sunrun, FedEx, Reddit, Amazon, Nio, Capital One, Nike & more
▼ + stars: | 2024-09-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley upgrades Centessa Pharmaceuticals, to overweight from equal weight Morgan Stanley said in its upgrade of Centessa that it's bullish on the biopharma company's narcolepsy treatment. Morgan Stanley downgrades Pepsi to equal weight from overweight Morgan Stanley said it sees "topline softness." Morgan Stanley names Nio a research catalyst idea Morgan Stanley said it's bullish on Nio after the China electric vehicle company debuted its latest model, the L60. Morgan Stanley downgrades FedEx to underweight to from equal weight Morgan Stanley downgraded FedEx following its disappointing earnings report on Thursday. Morgan Stanley reiterates Sunrun as overweight Morgan Stanley said the solar company has more room to run and that it's long term bullish on the company's partnership with Costco.

Persons: Jefferies, Morgan Stanley, Morgan Stanley downgrades Pepsi, Key, it's bullish, Riley, Reddit, Nio, it's, Bernstein downgrades Darden, Bernstein, Olive, DRI, Morgan Stanley downgrades ASML, Wells, Susquehanna, Evercore, Sunrun, Tesla, Mercado Organizations: Duke Energy, Centessa Pharmaceuticals, Amkor, China, UBS, Apple, RBC, FedEx, Deutsche Bank, American Airlines Deutsche, Susquehanna, Darden, Costco, Bank of America, Citi, Nike, Mercado Libre, Clearway Energy Locations: Nio, tailwinds, Olive, Argentina

☆ Earning $200,000 a year is considered middle class in 3 states—they're not California or New York
▼ + stars: | 2024-09-20 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +7 min

Many Americans made more money in 2023 than the year prior, bringing the national household median income up to $80,610, according to U.S. Census Bureau Current Population Survey estimates. Middle class is commonly defined as earning between two-thirds and double the household median income. Here are household incomes that fall in the middle class in each state, plus the District of Columbia: Alabama Median household income: $60,660Middle class income range: $40,440 to $121,320 Alaska Median household income: $98,190Middle class income range: $65,460 to $196,380 Arizona Median household income: $82,660Middle class income range: $55,107 to $165,320 Arkansas Median household income: $63,250Middle class income range: $42,167 to $126,500 California Median household income: $89,870Middle class income range: $59,913 to $179,740 Colorado Median household income: $96,640Middle class income range: $64,427 to $193,280 Connecticut Median household income: $92,240Middle class income range: $61,493 to $184,480 Delaware Median household income: $86,340Middle class income range: $57,560 to $172,680 District of Columbia Median household income: $111,000Middle class income range: $74,000 to $222,000 Florida Median household income: $72,200Middle class income range: $48,133 to $144,400 Georgia Median household income: $72,420Middle class income range: $48,280 to $144,840 Hawaii Median household income: $97,360Middle class income range: $64,907 to $194,720 Idaho Median household income: $73,910Middle class income range: $49,273 to $147,820 Illinois Median household income: $87,820Middle class income range: $58,547 to $175,640 Indiana Median household income: $76,910Middle class income range: $51,273 to $153,820 Iowa Median household income: $80,860Middle class income range:$53,907 to $161,720 Kansas Median household income: $84,830Middle class income range: $56,553 to $169,660 Kentucky Median household income: $61,980Middle class income range:$41,320 to $123,960 Louisiana Median household income: $57,650Middle class income range: $38,433 to $115,300 Maine Median household income: $75,740Middle class income range: $50,493 to $151,480 Maryland Median household income: $102,000Middle class income range: $68,000 to $204,000 Massachusetts Median household income: $106,500Middle class income range: $71,000 to $213,000 Michigan Median household income: $76,960Middle class income range: $51,307 to $153,920 Minnesota Median household income: $90,340Middle class income range: $60,227 to $180,680 Mississippi Median household income: $55,060Middle class income range: $36,707 to $110,120 Missouri Median household income: $78,290Middle class income range: $52,193 to $156,580 Montana Median household income: $79,220Middle class income range: $52,813 to $158,440 Nebraska Median household income: $89,190Middle class income range: $59,460 to $178,380 Nevada Median household income: $81,310Middle class income range: $54,207 to $162,620 New Hampshire Median household income: $98,780Middle class income range: $65,853 to $197,560 New Jersey Median household income: $91,590Middle class income range: $61,060 to $183,180 New Mexico Median household income: $60,980Middle class income range: $40,653 to $121,960 New York Median household income: $81,600Middle class income range: $54,400 to $163,200 North Carolina Median household income: $68,610Middle class income range: $45,740 to $137,220 North Dakota Median household income: $76,960Middle class income range: $51,307 to $153,920 Ohio Median household income: $73,770Middle class income range: $49,180 to $147,540 Oklahoma Median household income: $67,330Middle class income range: $44,887 to $134,660 Oregon Median household income: $88,740Middle class income range: $59,160 to $177,480 Pennsylvania Median household income: $79,820Middle class income range: $53,213 to $159,640 Rhode Island Median household income: $81,860Middle class income range: $54,573 to $163,720 South Carolina Median household income: $69,100Middle class income range: $46,067 to $138,200 South Dakota Median household income: $81,740Middle class income range: $54,493 to $163,480 Tennessee Median household income: $72,700Middle class income range: $48,467 to $145,400 Texas Median household income: $79,060Middle class income range: $52,707 to $158,120 Utah Median household income: $101,200Middle class income range: $67,467 to $202,400 Vermont Median household income: $85,190Middle class income range: $56,793 to $170,380 Virginia Median household income: $96,490Middle class income range: $64,327 to $192,980 Washington Median household income: $93,440Middle class income range: $62,293 to $186,880 West Virginia Median household income: $60,410Middle class income range: $40,273 to $120,820 Wisconsin Median household income: $79,690Middle class income range: $53,127 to $159,380 Wyoming Median household income: $77,200Middle class income range: $51,467 to $154,400Low or no-minimum wages may bring down incomes in the SouthTwo places in the Sout

Organizations: Census, of Columbia, Indiana, New, North Carolina, North Dakota, Rhode, South Carolina, South Dakota, Washington, West Virginia, District of Columbia, South Carolina —, Southern Locations: U.S, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, Jersey, Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Virginia, Wisconsin, Wyoming, South, — Mississippi, Louisiana , Alabama , Tennessee, South Carolina

☆ Panthers-Raiders game marks a first for the NFL with two women presidents at the helm
▼ + stars: | 2024-09-20 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

"I'm really proud of this moment," Carolina Panthers President Kristi Coleman told CNBC ahead of the game. The game is the first time two female presidents will go head-to-head in professional football. When the Carolina Panthers take on the Las Vegas Raiders on Sunday, it will mark a historic first for the National Football League. The NFL says 22 women currently hold full-time coaching positions in the NFL. As part of growing and developing that pipeline of women, the NFL holds an annual Women's Forum.

Persons: Kristi Coleman, David Tepper, Dave Canales, Coleman, Sandra Douglass Morgan, Mark Davis, Douglass Morgan Organizations: Carolina Panthers, CNBC, NFL, Las Vegas Raiders, National Football League . Carolina Panthers, Bank of America, Panthers, Tepper Sports & Entertainment, NFL League Office, The Institute, Diversity, University of Central Locations: Charlotte , North Carolina, Sport, University of Central Florida

I grew up in a big city and have, until very recently, always lived in cities. I'd already been on the hunt for a location within commuting distance of the big city when the pandemic hit. House hunting in a new location in an increasingly hot market — as a result of the mass exodus from the big city — was like taking on another full-time job. My three-to-five-year plan now includes the lofty financial goal of buying a remote property with more land and freedom. I'm keeping in touch with my mortgage brokerLastly, I'm maintaining close ties with my phenomenal mortgage broker, the wise and wonderful Lisa Okun.

Persons: I'd, I've, I'm, It's, it's, Lisa Okun, she'll, what's Organizations: Service Locations: We'll

☆ Dan Campbell: Lions head coach selling Detroit home because of ‘safety concerns’
▼ + stars: | 2024-09-20 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Detroit Lions head coach Dan Campbell is selling his home in the Motor City because of what he calls “safety concerns.”Campbell told Crain’s Detroit Business on Wednesday that he and his family “loved” the house but decided to move after fans found out where he lived. “There’s plenty of space, it’s on two acres, the home is beautiful,” Campbell told the outlet. Crain confirmed that Campbell was subject to pranks and harassment as a result. “Dan and Holly Campbell are Detroit treasures,” Crain told CNN. After a lackluster first season, he has played a key role in turning Detroit into one of the best teams in the NFL.

Persons: Dan Campbell, ” Campbell, “, It’s, Ashley Crain –, Campbell, Crain, “ Dan, Holly Campbell, ” Crain Organizations: CNN — Detroit Lions, Detroit Business, Dallas Cowboys, CNN, Lions, CNN Sport, Cowboys, Bloomfield Township Police Department, NFL, The Lions, NFC, San Francisco 49ers Locations: Motor City, Detroit, Bloomfield Township

☆ Morgan Stanley says this pharma stock can rally more than 60% thanks to its narcolepsy treatment
▼ + stars: | 2024-09-20 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Centessa Pharmaceuticals could be at the forefront of a leading narcolepsy treatment that can send its shares soaring, according to Morgan Stanley. One of the company's drugs is ORX750 for the treatment of sleep-wake disorders, including narcolepsy type 1 and 2, or NT1 and NT2. Additionally, Centessa is developing ORX142 for the treatment of excessive daytime sleepiness, or EDS, in certain neurological, neurodegenerative and psychiatric disorders. The drug is designed to increase wakefulness, reduce cataplexy and potentially be a novel treatment for narcolepsy type 1. Given the firm's view of ORX750 as a now de-risked mechanism for treating narcolepsy, Hung modeled a higher peak market share for the treatment in NT1 by 2036.

Persons: Morgan Stanley, Jeffrey Hung, narcolepsy, Hung Organizations: Pharmaceuticals, IH, EDS Locations: NT1, NT2

☆ I was going into Amazon's office 5 days a week before the RTO push. It's helped me focus and bond with teammates.
▼ + stars: | 2024-09-20 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +5 min

AdvertisementFor most of my time at Amazon, I've been going into the office five days a week. When Amazon RTO rules started requiring people to come into the office three days a week, I noticed that in-person work helped me and my team collaborate better. Roughly a month after I started, I decided to work in the office five days a week. I heard rumors about Amazon employees "coffee badging" on the news, but I don't personally know of anyone who's done it. In-person work has helped my team collaborate and improved my focusI heard about Amazon's new RTO policy, requiring employees to come in five days a week, on Monday.

Persons: —, Luka Emrashvili, I've, It's, I'd, they'd, We've Organizations: Service, Business, Amazon, Big Tech Locations: Amazon, New York, I'm, Georgia, Eastern Europe, weren't, Bryant

☆ Zoo Atlanta bids farewell to pandas after 25 years
▼ + stars: | 2024-09-20 | by ( Kelly Bowman | ) edition.cnn.com time to read: +7 min

Atlanta CNN —After a quarter-century hosting giant pandas, Zoo Atlanta is saying goodbye to its beloved residents. The zoo announced its four giant pandas: Lun Lun, Yang Yang, Ya Lun and Xi Lun will head home to China mid-October. Zoo Atlanta says the total number of giant pandas is still low for maintaining a viable population. Kelly Bowman/CNN“Panda-Palooza”And if you want to wish the Zoo Atlanta pandas farewell the zoo will be sending them off in style with a “Panda-Palooza” event on October 5, 2024. San Diego Zoo Wildlife Alliance is an international non-profit conservation organization divided in two parts: the San Diego Zoo and the San Diego Zoo Safari Park.

Persons: Lun, Yang Yang, Ya Lun, Xi Lun, They’ve, Sam Rivera, Rivera, Adam K, Kelly Bowman, CNN “ Organizations: Atlanta CNN, San Diego Zoo, Smithsonian National Zoo, Zoo Atlanta, Atlanta, Animal Health, Zoo, International, Georgia Tech, Thompson, World Wildlife Fund, Pandas, CNN, Smithsonian National, San Diego Zoo Wildlife Alliance, San Diego, Safari, Wildlife Fund Locations: Zoo Atlanta, China, Washington, Atlanta, San Diego, United States, Africa, Asia, Central, South America, San

☆ CNBC Daily Open: One day makes all the difference
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "Recalibration" Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: BOE, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, JPMorgan Chase, of England, Monetary, Fed, Dow, Nvidia, Apple, BMO Locations: New York, Dinah Washington . Washington

☆ Apple's showdown with its Chinese rival Huawei is here as both companies launch new smartphones on the same day
▼ + stars: | 2024-09-20 | by ( Katie Balevic | ) www.businessinsider.com time to read: +7 min

Hours after Apple unveiled its iPhone 16 models earlier this month, Huawei announced the Mate XT would drop on the same day. Huawei's Mate XT trifold smartphone secured millions of preorders. John Ricky/Anadolu via GettyThe disparity could be partly due to how Huawei distributed the first batch of Mate XT sales. Apple's iPhone 16 line starts at $800. The iPhone 16 offers a new "camera control" button and brings the "action" button previously found only on the iPhone 15 Pro models to the entry-level iPhone 16 as well.

Persons: —, preorders, John Ricky, Vivo Organizations: Service, Apple, Huawei, Business, Anadolu, Getty, CNBC, Reuters, Apple Intelligence, Publishing, Samsung, Bloomberg, Research, Wall, Counterpoint Research, Wedbush Securities Locations: China, Beijing, Hefei, Shenzhen, Guangzhou

Now that the Fed has cut rates, mortgage rates may not drop much further in the near term. But if the Fed doesn't lower rates as much as expected this year, mortgage rates may hold steady or even inch up. But rates are still expected to come down further, so it may also be worth waiting to see how low mortgage rates go. 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. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: Lawrence Yun, you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Wednesday, National Association of Realtors, Consumers, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ Bitcoin posts 5.5% weekly gain after rate cut, MicroStrategy increases holdings: CNBC Crypto World
▼ + stars: | 2024-09-20 | by ( Jordan Smith | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin posts 5.5% weekly gain after rate cut, MicroStrategy increases holdings: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Greg Benhaim of 3iQ discusses the sentiment for digital assets among investment advisors.

Persons: explainers, Greg Benhaim, 3iQ Organizations: CNBC Crypto, CNBC

☆ China unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China on Friday kept its main benchmark lending rates unchanged at the monthly fixing. The People's Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%. The one-year LPR affects corporate and most household loans in China, while the five-year LPR acts as a benchmark for mortgage rates. Urban jobless rate rose to a six-month high, while year-on-year home prices fell at their fastest pace in nine years. Bank of America lowered their forecast for China's 2024 GDP growth to 4.8%, and Citigroup trimmed their projection to 4.7%.

Organizations: Reuters, People's Bank of China, Bank of America, Citigroup Locations: People's Republic of China, China

☆ Ikea's fleet of 250 autonomous drones takes stock of warehouse inventory without any human intervention
▼ + stars: | 2024-09-20 | by ( John Kell | ) www.businessinsider.com time to read: +9 min

Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.

Persons: Verity, —, Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, —, Zealand, Arizona , Florida, Utah, Dallas

☆ Republicans are trying to make a last-minute change to the Electoral College to make it easier for Trump to win
▼ + stars: | 2024-09-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Read previewWith less than two months to go before the 2024 election, top Republicans and allies of former President Donald Trump are pushing for a last-minute change to the Electoral College. The GOP effort centers on Nebraska, a traditionally Republican state that awards its Electoral College votes in an unusual way. AdvertisementThe Electoral College mathUnder the Electoral College, a candidate needs to win 270 votes — a majority of the 538 total electors — in order to win. AdvertisementMaine earlier this year threatened to switch to a winner-take-all system for Electoral College votes if Nebraska did the same. How one vote could change the electionAs Graham noted, just one Electoral College vote is at stake in Nebraska.

Persons: —, Donald Trump, Kamala Harris, Joe Biden, Biden, Harris, Sen, Lindsey Graham of, Graham, Trump, There's, he's, it's, That's, Jen O'Malley Dillon, Jim Pillen Organizations: Service, Electoral College, Business, Electoral, Biden, Trump, Lindsey Graham of South Carolina, CBS, Nebraska, Democratic, Maine's, Sun, Representatives, Republicans, Republican Gov, Nebraska Examiner, GOP Locations: Nebraska, Omaha, Lindsey Graham of South, Lincoln, Pennsylvania, Michigan, Wisconsin, Nevada , Arizona, Georgia, North Carolina, Maine, Trump, Maine's, Nevada, state's

☆ This tech billionaire could be the richest in the world through stock alone a year from now
▼ + stars: | 2024-09-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

An unlikely technology billionaire could come out on top in the battle of the world's richest a year from now. That briefly positioned Ellison as the richest person in the world behind Musk and ahead of Bezos. This could boost the ex-CEO's fortune by $27.8 billion to $203.9 billion, placing him less than $3 billion behind Ellison in stock value. That could mean a windfall for CEO Huang's stock fortune, lifting his stake by $27.2 billion to $128.7 billion. Musk's Tesla stake could decline nearly 11% to $89.6 billion from roughly $100.3 billion as of Thursday's close.

Persons: Larry Ellison, Jeff Bezos, Elon Musk, Jensen Huang, Ellison, Larry, Kim Forrest, I'm, Amazon's, Tesla Organizations: Oracle, Nvidia, Bokeh Capital Partners, Federal Reserve Locations: Bezos

☆ Fed Governor Waller says inflation softening faster than he expected put him in half-point-cut camp
▼ + stars: | 2024-09-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week's meeting because inflation is falling even faster than he had expected. A week before the Fed meeting, markets were overwhelmingly pricing in a 25 basis point cut. Along with the decision, individual officials signaled the likelihood of another half point in cuts this year, followed by a full percentage point of reductions in 2025. Fed Governor Michelle Bowman was the only Federal Open Market Committee member to vote against the reduction, instead preferring a smaller quarter percentage point cut. "I was a big advocate of large rate hikes when inflation was moving much, much faster than any of us expected," he said.

Persons: Christopher Waller, Waller, CNBC's Steve Liesman, Michelle Bowman, Bowman, Jerome Powell Organizations: Federal, CNBC, Fed, Market, Commerce Department

☆ Target isn't rewarding its biggest spenders like it should — and shoppers aren't happy about it
▼ + stars: | 2024-09-20 | by ( Jamie Killin | ) www.businessinsider.com time to read: +6 min

But in reality, many avid Target shoppers like myself were left confused, frustrated, and searching for their beloved 1% cash back. Target did confirm that the majority of the Target Circle deals are automatically applied at checkout. It is worth noting that the program sometimes offers Target Circle rewards, which shoppers can apply toward future purchases. However, unlike the previous cash-back earnings, Target Circle rewards are only given after select Target Circle bonuses are activated and redeemed. In my opinion, the solution could be as simple as restoring the beloved cash-back reward for Target Circle members.

Persons: —, Roxy Couse, Couse, Target's, they'll, wasn't, I'd, that's, Sephora, Diane von Furstenberg, Stanley Organizations: Service, Business, Target, Circle, Starbucks Locations: Target

☆ Stock market today: US stocks end mixed but finish the week near record highs after the Fed's first rate cut in 4 years
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Federal Reserve's first interest rate cut since 2020 helped drive the week's gains. The anticipation and delivery of the Federal Reserve's first interest rate cut since 2020 helped drive the gains this week. The Fed issued a jumbo 50 basis point interest rate cut to "recalibrate" monetary policy, as Fed Chairman Jerome Powell put it nine times during his FOMC speech on Wednesday. US stocks soared on Thursday after declining slightly on Wednesday, as investors had more time to digest the Fed's interest rate decision. AdvertisementThe S&P 500 and Dow Jones Industrial Average both hit record highs on Thursday.

Persons: —, Jerome Powell, Raymond James, Larry Adam, Adam Organizations: Dow, Federal, Investors, Service, Nasdaq, Dow Jones, Fed, Dow Jones Industrial

Search resuls for: "5"

25 mentions found