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☆ Jeep reveals its first EV for America
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Jeep, widely known for making rugged off-road vehicles, has unveiled its first fully electric SUV for the North American market. The Wagoneer S will test the appetite of Jeep customers for a fully electric model. It comes at a time of waning interest in electric vehicles, even as regulatory requirements for them become more stringent. The new Wagoneer S has a sleeker, more aerodynamic shape than the Jeep Wagoneer models sold today. Jeep is working on putting the Wagoneer S Trailhawk into production, Filosa said in an interview with CNN.

Persons: Antonio Filosa, that’s, Stellantis, Peter Valdes, Filosa, ”, Gilles, “ Organizations: CNN, Jeep, North Locations: Europe, Canada, .

☆ John Lennon’s Guitar From ‘Help!’ Is Sold for $2.9 Million at Auction
▼ + stars: | 2024-05-30 | by ( John Yoon | ) www.nytimes.com time to read: +1 min

A recently discovered guitar that John Lennon used to record multiple Beatles songs in the 1960s before it went missing for 50 years has sold at auction for $2.9 million, becoming one of the most valuable pieces of memorabilia from the band. Later that year, Mr. Lennon gifted the 1964 guitar, made by the German instrument manufacturer Framus, to Gordon Waller, a member of the British pop duo Peter & Gordon. Mr. Waller passed it on to one of his road managers, who took the guitar to his home in the rural British countryside and tossed it in the attic, the auction house said. More than 50 years later, a man in Britain discovered the guitar in his parents’ attic as they were moving out of the house, Darren Julien, a co-founder of Julien Auctions, said in a video. After they found it — along with its original guitar case — they alerted the auction house in March, Mr. Julien said.

Persons: John Lennon, Lennon, George Harrison, Gordon Waller, Peter, Gordon, Mr, Waller, Darren Julien, Julien Auctions, Julien Locations: Los Angeles, British, Britain

Trump and Musk’s growing courtshipFor much of President Biden’s time in the White House, his relations with Elon Musk have been tense. They may be about to plunge to a new low after Biden’s re-election campaign hit out at reports that Donald Trump could make Musk an adviser if the Republican were to win in November. The president’s campaign sees mileage in targeting Trump’s ties to moguls. Musk and Trump met in March at the billionaire investor’s Palm Beach, Fla., estate, where the advisory role discussions took place. Peltz and Musk have also briefed Trump on a plan to invest in a project to prevent the possibility of voter fraud.

Persons: Trump, Biden’s, Elon Musk, Donald Trump, ” James Singer, DealBook, he’s, Musk, David Sacks, Peter Thiel, Steven Mnuchin, Rupert Murdoch, Nelson Peltz, hasn’t, Don Lemon, “ Let’s, ”, Biden, Tesla Organizations: Elon, Republican, Wall Street, Trump, Los Locations: Los Angeles, Palm Beach, Fla

☆ For the first time in 323 years, Yale has elected a woman as its permanent president
▼ + stars: | 2024-05-30 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

History has been made at Yale University as Maurie McInnis becomes the first woman to be named permanent president of the Ivy League school. She has served as a Yale trustee since 2022 and earned master's degree and doctorate from Yale, per the school's announcement Wednesday morning. Yale has had only one other female leader, the historian Hanna Holborn Gray, who served as interim president from 1977 to 1978. It is the last Ivy League school to name a permanent woman president. In an interview with the Yale Daily News, McInnis expressed her gratitude for being elected president and reiterated her commitment to "tackle the world's most pressing challenges."

Persons: Maurie McInnis, McInnis, Hanna Holborn Gray, Peter Salovey, Joshua Bekenstein, — Organizations: Yale University, Ivy League, Yale, Stony Brook University, University of Texas, University of Virginia, Bain Capital, Yale Corporation, Yale Daily News, Harvard University, University of Pennsylvania, Cornell University, Stony Brook, CNBC Locations: New Haven , Connecticut, Long, New York, Austin, Israel, Stony

☆ A national network of local news sites is publishing AI-written articles under fake bylines. Experts are raising alarm
▼ + stars: | 2024-05-30 | by ( Hadas Gold | ) edition.cnn.com time to read: +10 min

But a closer look at the bylines populating the local site and a national network of others — Sarah Kim, Jake Rodriguez, Mitch M. Rosenthal — reveals a tiny badge with the words “AI.” These are not real bylines. The outlet, Hoodline, is not the first or only news site to harness AI. Sports Illustrated deleted several articles from its website after they were found to have been published under fake author names. Keeping local news aliveOn Hoodline’s network of local news sites, it is difficult to find an article not written by the software. But the transformation at Hoodline shows that bigger solutions are needed to keep vital local news reporting alive.

Persons: Sarah Kim, Jake Rodriguez, Mitch M, Rosenthal —, ”, Hoodline, ” Zachary Chen, ” Chen, “ Nina, Mark Graham, Peter Adams, “, ” Adams, Chen, Danielle Coffey, ” Coffey, That’s, Felix Simon, ” Simon, Simon, Benjamin Toff, Hoodline San Francisco ’, Nuala, ” Bishari Organizations: CNN, Media, Tech, Gannett, Internet, Wayback Machine, News Literacy, LinkedIn, Media Alliance, News Corp, Reuters Institute for, Journalism, University of Oxford, Research, University of Minnesota, San Francisco Chronicle Locations: embarrassments, San Francisco, Philippines, Hoodline San

☆ Why replacing alcohol with weed is a growing trend in the US
▼ + stars: | 2024-05-30 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

The use of weed to replace alcohol is a growing trend in the United States. “We know that moderate alcohol consumption has health risks, and risk increases as alcohol consumption increases,” Boyd said in an email. “Cannabis smoke contains toxins, carcinogens, and particulate matter that have been linked to cancer, lung damage, and cardiovascular disease,” Cohen said in an email. Research on edibles, such as baked goods, candies and beverages, and other methods of using cannabis is in its infancy. “In and of itself, it’s not good that more people are using cannabis,” Grinspoon said.

Persons: CNN —, “, —, ”, “ I’ve, Carol Boyd, ” Boyd, Weed, Peter Grinspoon, ” “, ” Grinspoon, Beth Cohen, ” Cohen, I’m, Boyd, ” Robert Page II, Grinspoon, ideation, it’s Organizations: CNN, National Survey, Center, Drugs, University of Michigan, US Centers for Disease Control, Massachusetts General Hospital, Marijuana, University of California, University of Colorado Skaggs School of Pharmacy, Pharmaceutical Sciences, Drug, Food and Drug Administration, National Poison Center, FDA, Lifeline Locations: United States, Washington, Ann Arbor, Boston, San Francisco, Aurora, Georgia

☆ What is a catalytic converter and why do people keep stealing them?
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN —Johnny Wactor, an actor who formerly starred in “General Hospital,” caught people in the act of stealing the catalytic converter from his car Saturday. But, up to last year, catalytic converter thefts had been rising sharply, up by a factor of four, since 2020. A catalytic converter cleans a car’s exhaust, making the air safer to breathe for all of us. On its website, the US Environmental Protection Agency has called the catalytic converter “one of the great environmental inventions of all time.” But it’s not what the catalytic converter does that attracts desperate criminals. For the most part, the catalytic converters end up getting sold to recycling companies that strip out the materials to make new catalytic converters.

Persons: Johnny Wactor, ”, Wactor, It’s, they’ve, Richard Waitas, That’s, Scott Vollero, Christopher Gaines, you’ve, it’s Organizations: CNN, “, National Insurance, US Environmental Protection Agency, National Automobile Dealers Association, Recycling Locations: Angeles, California

☆ Fast food deals were off the table. Now they’re roaring back
▼ + stars: | 2024-05-30 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

KFC recently introduced a value menu with meals starting at $4.99. But it’s been a long time since they used discounted meals as a strategy to drive traffic, noted Peter Saleh, restaurant analyst at BTIG. KFC launched its value menu earlier that month. A Burger King spokesperson confirmed to CNN that it plans to offer a $5 meal, without sharing more details. And more deals don’t mean that menu prices are dropping, or even staying the same.

Persons: Burger King, Taco Bell, Jack, Wendy’s, it’s, Peter Saleh, haven’t, ”, we’ve, ” Price, ” Saleh, Chris Kempczinski, “, McDonald’s, Burger, Paul Weaver, Kempczinski, NOA, ” Cowen, Andrew Charles, Eva Marie Uzcategui, McDonald’s “, ” Charles, David Henkes, Josh Kobza, Henkes, BTIG’s Saleh Organizations: New, New York CNN, KFC, BTIG, Street Journal, National Owners Association, Bloomberg, Getty, CNN, Restaurant Brands Locations: New York, Technomic, Burger King

Recently graduated and struggling to find a job? You are not alone. In this audio essay, the Opinion economics writer Peter Coy explores why the class of 2024 is in a job slump, despite a low unemployment rate. He talks to a recent graduate, John York, about his challenges so far. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)

Persons: Peter Coy, John York

☆ Boockvar: 10-year yield is a trigger for buying or selling of stocks
▼ + stars: | 2024-05-29 | 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 EmailBoockvar: 10-year yield is a trigger for buying or selling of stocksPeter Boockvar, Chief Investment Officer at Bleakley Financial Group, discusses rates, inflation, and this week's bond auction.

Persons: Peter Boockvar Organizations: Bleakley Financial

☆ For some millennials, the reality of their retirement plans is that they're a fantasy
▼ + stars: | 2024-05-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The documentary chronicles the rise and fall of the movie-ticket-subscription company MoviePass, and is based on award-winning reporting from Business Insider . The big storyRetirement mathGetty Images;Alyssa Powell/BIFor some millennials, the reality of their retirement plans is that they're a fantasy. AdvertisementIt's not the first time we've gotten troubling data about millennials' retirement plans. But it's not just a lack of savings working against millennials' plans of riding off into the retirement sunset. AdvertisementAnd if you're hoping for a Hail Mary in the form of a fat inheritance to jumpstart your retirement plans, that's not looking great either.

Persons: —, MovieCrash, Alyssa Powell, Jacob Zinkula, William Edwards, we've, it's, millennials, Hail Mary, that's, Juliana Kaplan, It's, Johannes Simon, Neel Kashkari, Sam Altman, Justin Sullivan, Oliver Mulherin, Scarlett Johansson, Altman, Jensen Huang, Adam Neumann, Neumann, WeWork, Moviegoing, there's, BI's Peter Kafka, Sheryl Sandberg, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Max, Business, Hail, Reserve Survey, Consumer, Wall, Minneapolis, UBS, Google, Nvidia, BI, Hollywood, HP Locations: Swiss, BI Denmark, New York, London

☆ ‘My eyes have been opened:’ Inside Elton John’s personal photography collection
▼ + stars: | 2024-05-29 | by ( Victoria Woodcock | ) edition.cnn.com time to read: +9 min

CNN —“Fragile Beauty” is an exhibition of extremes. The new show of “Photographs from the Sir Elton John and David Furnish Collection” at London’s Victoria & Albert museum (V&A) is at turns glitzy and gritty; joyfully pop and heart-wrenchingly poignant. “‘Fragile Beauty’ was chosen by Elton. Photography as a visual journalOne section, too, is titled “Fragile Beauty”, featuring work by Mapplethorpe, Hujar and McGinley. Elton even features in some of his own collection, as shown in David LaChapelle's "Elton John, Egg On His Face," 1999.

Persons: Sir Elton John, David, Marilyn Monroe, Nan Goldin, ”, Duncan Forbes, “, ’, Elton, Tristram Hunt, London’s, Tyler Mitchell's, Tyler Mitchell, Richard Avedon, Mitchell, John, Egglestons —, Newell Harbin, Hujars, ’ Elton John “, Forbes, Tom Bianchi's, Tom Bianchi, Fahey Klein, “ They’re, It’s, “ We’re, Ronald Fisher —, Newell, Robert Mapplethorpe, Mapplethorpe, Elton John, Sunil Gupta’s, Christopher Street ”, George Platt Lynes, Zanele Muholi, Peter Hujar's, Darling, Hujar, Mel Roberts, Gilbert, George’s, Ryan McGinley’s, Don Herron’s, Keith Haring, Peter Hujar, McGinley, Mary Ellen Mark, John’s, David Fahey, David LaChapelle's, Egg, David LaChapelle “, Fahey, Irving Penn, Herb Ritts, Horst P, Horst, Robert Mapplethorpe's, Roy DeCarava, Julio Cortez’s, George Floyd, Hunt Organizations: CNN, Albert, London’s Tate, Vogue, Atlanta, Los Angeles, Elton John Aids Foundation, ”, Rights Society New, Associated Press Locations: British, Atlanta, London, Los Angeles, “, Harbin, New York, American, Rights Society New York, Seattle, France, Britain, Minneapolis

☆ Yale Chooses Head of Stony Brook University to Be New President
▼ + stars: | 2024-05-29 | by ( Stephanie Saul | ) www.nytimes.com time to read: +1 min

Yale University’s new president will be Maurie D. McInnis, currently the president of Stony Brook University, a New York state public university, where she is known for raising the school’s profile, donations and prestige. When she takes over from Yale’s outgoing president, Peter Salovey, in July, Dr. McInnis, who earned masters and doctoral degrees from Yale in the 1990s, will become the university’s first permanent female president. Her selection followed a search that began last fall. The delay in announcing a successor for Dr. Salovey, who leaves his post at the end of June, prompted speculation that the university’s selection committee was having difficulty finding someone during a tumultuous time on university campuses. Joshua Bekenstein, a founder of Bain Capital who heads the Yale Corporation, the university’s governing board, said the search committee had undertaken a “very thorough” selection process.

Persons: McInnis, Peter Salovey, Salovey, Joshua Bekenstein Organizations: Yale, Stony Brook University, Bain Capital, Yale Corporation Locations: New York

☆ LLMs, GPUs, and hallucinations — what you need to know about AI
▼ + stars: | 2024-05-29 | by ( Aaron Mok | Jyoti Mann | ) www.businessinsider.com time to read: +6 min

Here's a list of the people, companies, and terms you need to know to talk about AI, in alphabetical order. GPU: A computer chip, short for graphic processing unit, that companies use to train and deploy their AI models. Nvidia's GPUs are used by Microsoft and Meta to run their AI models. Multimodal: The ability for AI models to process text, images, and audio to generate an output. As a profession, prompt engineers are experts in fine tuning AI models on the backend to improve outputs.

Persons: —, Sam Altman, Altman, OpenAI's, Dario Amodei, Claude, Demis, Hassabis, Jensen Huang, Satya, Mustafa Suleyman, OpenAI, Elon Musk, Sam Bankman, Peter Thiel, Bard, James Webb, empiricists Organizations: Service, Business, OpenAI, Google, Nvidia, Microsoft, Bing, Meta, James Webb Space Telescope Locations: OpenAI, Anthropic

☆ Pope Francis apologizes for using a homophobic slur during a meeting with bishops
▼ + stars: | 2024-05-28 | by ( Christopher Lamb | ) edition.cnn.com time to read: +2 min

CNN —Pope Francis has apologized for using an anti-gay slur during a meeting with bishops. The 87-year-old pontiff reportedly made the homophobic remark in a closed-door meeting last week as he told Italian bishops that gay men shouldn’t be allowed to train for the priesthood. “As he (Pope Francis) has said on several occasions, ‘in the Church there is room for everyone, everyone! Francis’ comments were made in the context of proposals from the Italian bishops to amend guidelines on candidates to seminaries. A view of St. Peter’s during a mass celebrated by Pope Francis on the first World Children’s Day on May 26, 2024 in Vatican City, Vatican.

Persons: Pope Francis, shouldn’t, “, Pope, ’, Francis ’, Peter’s, Franco Origlia, Francis Organizations: CNN, Repubblica, della Sera, Argentine Locations: Vatican City, Vatican

☆ Two More ‘Succession’ Actors Are Broadway Bound, in ‘Job’
▼ + stars: | 2024-05-28 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +1 min

“Job,” a two-character thriller about a psychological evaluation going awry, started small, with a run last year at SoHo Playhouse. Word-of-mouth was good, the New York Times review was positive and sales were strong, so early this year it transferred for another Off Broadway run at the Connelly Theater in the East Village. Now the play, written by Max Wolf Friedlich and directed by Michael Herwitz, is planning to make the leap to Broadway, with a two-month run beginning this summer at the Hayes Theater. The Broadway production, like the Off Broadway runs, will star Peter Friedman and Sydney Lemmon. Both of them appeared in the HBO series “Succession” — Friedman was a member of the principal cast, playing Frank Vernon, the chief operating officer of Waystar Royco, and Lemmon appeared in the show at one point as a love interest of Kendall Roy.

Persons: ”, Max Wolf Friedlich, Michael Herwitz, Peter Friedman, Sydney Lemmon, ” — Friedman, Frank Vernon, Waystar Royco, Lemmon, Kendall Roy, Friedman, ” Lemmon, Jack Lemmon Organizations: SoHo Playhouse, New York Times, Connelly, Hayes, Broadway, HBO, York, Hulu Locations: East

☆ Lucid CEO says Tesla is 'losing its way'
▼ + stars: | 2024-05-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Read previewLucid CEO Peter Rawlinson isn't a fan of Tesla's recent trajectory under Elon Musk. The Lucid CEO said he feels Tesla is "losing its way" and doesn't have the same sense of purpose it once did. Advertisement"There's an interest in social media, even politics, and it's kind of losing its way. Since Musk acquired Twitter in 2022, some Tesla investors have questioned his commitment to the electric carmaker. While Rawlinson told BBC that Lucid is "many years ahead" of other automakers, including Tesla, when it comes to some of its technology, the company has only a fraction of the market share compared to Tesla.

Persons: —, Peter Rawlinson isn't, Elon Musk, Rawlinson, Tesla, BBC's, Elon, Musk, Lucid, Axios Organizations: Service, Lucid, EV, Business, Twitter, BBC

☆ Vivek Ramaswamy has a plan for BuzzFeed. There's just one problem.
▼ + stars: | 2024-05-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Former Republican presidential candidate Vivek Ramaswamy announced last week he had been buying up shares in BuzzFeed. Which led to the obvious question: Why is Vivek Ramaswamy buying up shares in BuzzFeed? Related storiesHe's laid it out in a letter to BuzzFeed's board, but if you're in a hurry I can summarize it for you: Ramaswamy wants BuzzFeed to pull an Elon Musk. Another option would be for Ramaswamy to play this out a while longer and watch BuzzFeed shares shoot up based on his saber-rattling. BuzzFeed shares closed at $3 today, up 20% from May 22, when Ramaswamy first disclosed his stake.

Persons: Vivek Ramaswamy, Ramaswamy, BuzzFeed —, Elon, Musk, Tucker Carlson, Bill Maher, There's, Jonah Peretti, Peretti, Donald, he's Organizations: Service, Republican, Twitter Locations: BuzzFeed, MAGA

☆ Nvidia and more: Citi names global stocks to play the semiconductor boom
▼ + stars: | 2024-05-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The global semiconductor industry is set to experience "groundbreaking changes," Citi said, naming stocks to play the theme. Here are six stocks from Citi's list, which stand out for having substantial upside potential, according to FactSet's consensus price targets. Nvidia Among Citi's list of top stocks is investor darling Nvidia . Samsung Electronics and SK Hynix South Korean tech giants Samsung Electronics and SK Hynix also made Citi's list. Citi also noted that SK Hynix is looking forward to stronger supplies of HBM3E chips through to 2025, "in line with the customer's roadmap."

Persons: Atif Malik, ASMPT, Kevin Chen, Takayuki Naito, Ibiden, Hynix, Peter Lee, — CNBC's Michael Bloom Organizations: Citi, Nvidia, Tokyo Stock Exchange, Franklin FTSE, Franklin FTSE Hong Kong ETF, BlackRock Future Tech ETF, Samsung Electronics, SK Hynix South, SK Hynix, Korea ETF, Franklin FTSE South Korea ETF Locations: Hong Kong, Franklin FTSE Hong, SK Hynix South Korean, Korea, Franklin FTSE South

☆ Porsche reveals a new hybrid 911 as more consumers embrace hybrids over electric vehicles
▼ + stars: | 2024-05-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

They have become increasingly popular in the United States even as sales of purely electric models have started to slow. The German automaker Porsche, a division of Volkswagen AG, already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car, but a hybrid 911 is another matter. Initially, hybrid power will be available in only one version of the car, the high performance 911 Carrera GTS. In another major change for Porsche, this car will not be a plug-in hybrid, as other Porsche hybrid models have been. Besides hybrids, Porsche also sells fully electric cars, the Taycan and the new Macan Electric SUV.

Persons: CNN —, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen AG, Carrera, Volkswagen Locations: United States, Cayenne

☆ The real reason behind Hollywood's miserable weekend
▼ + stars: | 2024-05-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewThis weekend my family went to the movies, twice. This past holiday weekend was the worst Memorial Day showing Hollywood has seen in decades, with ticket sales down a staggering 40% from last year. One thing Hollywood is very good at is generating explanations for a flop — or in this case, multiple flops. (I paid $44.76 for the two Furiousa tickets I bought over the weekend at my local Alamo Drafthouse. I don't think movies or movie theaters are going away.

Persons: —, Max, Matthew Ball, Barbie, Oppenheimer, Tom Rothman Organizations: Service, Garfield, Hollywood, Business, Sony

☆ Safaris aren't the only tourist attraction in Africa. From cruises to wine tasting, here's what else you can do
▼ + stars: | 2024-05-28 | by ( Harriet Akinyi | Penny Sadler | ) www.cnbc.com time to read: +6 min

Bungy jumping at Soweto Towers, a decommissioned power station in Johannesburg, South Africa. Explore the beachAfrican beach towns combine beauty and culture, in places like Seychelles, Kenya, Tanzania, South Africa, Mozambique, Mauritius, Zanzibar, Ghana, Namibia and Egypt. In addition to being a popular stop for world cruises, East and South Africa have their own ocean cruise routes which follow the coastlines and visit offshore islands. But South Africa is the continent's crown jewel. The wine country of Franschhoek, outside of Cape Town, South Africa.

Persons: Toubkal, there's, Thomas Janisch, Zina Bencheikh, Madagascar's Tsingy, Carlo Morucchio, Kenya's Masai Mara, King Charles III, Queen Camilla, Mombasa's, Samir Hussein, Luciemarie Swanepoel, Jeremy Villasis, Peter Unger, Kate Powell, Intrepid's Bencheikh, Kevin Bubolz, Wrenelle Stander, Michele Westmorland Organizations: bungie, Getty, Intrepid Travel, UNESCO, Heritage, Wireimage, Diamonds, Sainte, Cruises, Stone, Queen, Cruise Line, MSC, Continental, Penguin Locations: Africa, Morocco's, Kilimanjaro, Tanzania, Nyangani, Zimbabwe, Soweto, Johannesburg, South Africa, Europe, East, Namibia, Victoria Falls, Zambia, Jinja, Uganda, Morocco, Seychelles, Kenya, Mozambique, Mauritius, Zanzibar, Ghana, Egypt, Mombasa, Mombasa's Fort Jesus, Fort Jesus, Kaya, Zanzibar's Stone, Madagascar, Swanepoel, Durban, Cape, Kivu, Silversea, Continental Europe, Middle East, Port, Ethiopia, Wesgro, Stellenbosch, Franschhoek, Cape Town , South Africa

☆ No, Americans Aren’t Completely Stupid About Inflation - The New York Times
▼ + stars: | 2024-05-27 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Stefanie Stantcheva was 11 years old in 1997 when annual inflation in Bulgaria, the country from which she and her family had emigrated, surpassed 2,000 percent. “The episode helped shape her eventual decision to study economics,” according to a profile in the International Monetary Fund’s Finance & Development magazine. Inflation and how people perceive it still fascinate Stantcheva, now a professor of political economy at Harvard and the founder and director of its Social Economics Lab. This year she released a pair of papers on the topic, the first about why people dislike inflation and the second, with a pair of co-authors, about how they understand it. Some people will take this as evidence that ordinary Americans are simply wrong.

Persons: Stefanie Stantcheva, we’re, Tom Jensen Organizations: Monetary Fund’s Finance, Development, Harvard, Social, Econ, Public, Democratic Locations: Bulgaria

☆ We live in Hong Kong and are returning to the US to retire. We don't have a credit score and our Social Security is minimal.
▼ + stars: | 2024-05-27 | by ( Peter Maize | ) www.businessinsider.com time to read: +3 min

After 35 years of living and working in Hong Kong, my wife, Wendy, and I are returning home to the US. Setting aside concerns of whether we are jumping from a frying pan into a fire (ongoing crackdown on freedoms in Hong Kong versus political ruptures in the US), we have many other issues to grapple with. We don't have credit scores or credit cardsTake, for example, our credit score: we don't have one. In Hong Kong we have always paid our bills on time and are conscientious consumers. For us, that won't be a significant amount since most of my prime employment years were spent overseas working for Hong Kong companies.

Persons: Wendy, it's, We've Organizations: Service, Social Security, Department of Motor Vehicles Locations: Hong Kong, America, LA, Pacific, United States

☆ The Delivery Business Shows Why Unions Are Struggling to Expand
▼ + stars: | 2024-05-27 | by ( Peter Eavis | ) www.nytimes.com time to read: +1 min

Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx. Polling shows that public support for unions is the highest it has been in decades. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize.

Persons: Teamsters — Organizations: UPS, United Automobile Workers, Teamsters, Volkswagen, Mercedes, Benz, Amazon, FedEx, Polling Locations: Tennessee, Alabama

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