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☆ Housing is on the verge of a correction and Americans are feeling less and less upbeat about the economy
▼ + stars: | 2022-10-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And no wonder — the economy is giving Americans less and less reason for optimism. The US housing market isn't just slowing down, it's in the early stages of a major correction. According to the latest consumer confidence report, Americans are feeling downbeat across the board. In Franco's words: "The Expectations Index is still lingering below a reading of 80 — a level associated with recession — suggesting recession risks appear to be rising." Here are the latest market moves.

☆ Workers lacking paid leave quit at higher rates in pandemic, report shows
▼ + stars: | 2022-10-25 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

The report found that workers without paid sick leave quit at three to four times the rate of comparable workers between 2019 and 2021. About a quarter of workers in the U.S. do not have paid sick leave, a proportion that is higher among lower-wage workers. In the congressional report, salaried workers — who typically enjoy more benefits and stability — fared better than hourly workers within companies. Female hourly workers experienced worse outcomes than male hourly workers 30% of the time, but among salaried workers, the difference was less than 10%. Both Black and Asian hourly workers were less likely to be promoted than their white counterparts, while Black hourly workers were fired at higher rates than white ones.

☆ Wealthy people are splurging on bucket-list trips, flying to the Arctic Circle for private-chef-catered meals, renting out African safari lodges, and spending $300,000 for a half-hour opera serenade
▼ + stars: | 2022-10-25 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Hard-to-access places like the Arctic Circle and Galapagos Islands are bucket-list travel hot spots. These well-off wanderlusters have helped create a travel-industry boom, with pent-up demand pushing bucket-list travel into this year's shoulder seasons. American Express Travel's 2022 Global Travel Trends report, which used polling data collected in early February 2022, confirms the move toward bucket-list travel this year. Quality time with loved ones matters above allBut not all bucket-list travel experiences need to be in far-flung corners of the world. Finnegan said traveling with his family made it a bucket-list trip.

The charges to which Weisselberg pleaded guilty included grand larceny and tax fraud, and he admitted concealing $1.76 million in income. The Trump Organization, which operates hotels, golf courses and other real estate around the world, could face up to $1.6 million in fines for the three tax fraud counts and six other counts it faces. In his guilty plea, Weisselberg admitted to scheming with the company so that "substantial portions" of his and other employees' income was unreported or misreported. Weisselberg has worked for the Trump Organization for nearly half a century. After his guilty plea, he was placed on a paid leave of absence, according to a person familiar with the matter.

☆ Top economist David Rosenberg shares 20 ETFs and investment themes that are critical plays for 'long-term return prospects' — including one that's an optimum hideout during bear markets
▼ + stars: | 2022-10-23 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Top economist David Rosenberg breaks down key investment trends for the bear market and long-term. In a recent note, Rosenberg says these 12 ETFs have "long-term return prospects." But these conditions have brought valuations back to more reasonable levels and thereby improved long-term investors' return prospects, he added. Water scarcity and food insecurityFirst, there's water scarcity. Investors who want exposure to water companies could look to exchange-traded products like Invesco's Water Resources ETF and First Trust's Water ETF, he says.

Signing up for a new high-yield savings account online can take as little as five minutes. But high-yield savings accounts pay significantly higher rates than the national average, and the interest earned is usually deposited into your account monthly. Compare high-yield savings account optionsShop around for the best high-yield savings account that fits your needs. 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.

Kevin Spacey is cross examined by Richard Steigman during Anthony Rapp's civil sex abuse case against Spacey in this courtroom sketch from the trial in New York, U.S., October 18, 2022 as U.S. District Judge Lewis Kaplan presides. REUTERS/Jane RosenbergOct 20 (Reuters) - Closing arguments began on Thursday in Kevin Spacey's civil sex abuse trial, as the Oscar-winning actor fights allegations that he made an unwanted advance on a 14-year-old in 1986. Rapp, at the start of his own Broadway career at the time, said he was able to "swerve my way out" but that the experience scarred him. During the trial, Judge Lewis A. Kaplan dismissed Rapp's claim for emotional distress but allowed the case to proceed on his battery claim. Spacey faces a criminal trial in London next year after pleading not guilty to five sex offense charges over alleged assaults between 2005 and 2013.

☆ Fewer Venezuelans caught at U.S.-Mexico border after Biden expulsions
▼ + stars: | 2022-10-20 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

U.S. Customs and Border Protection Commissioner Chris Magnus told Bloomberg News on Thursday that U.S. border agents had encountered just 155 Venezuelans on Wednesday, down from a daily average of 1,200 earlier this month. More than 4,500 Venezuelans have been returned to Mexico since the new U.S. expulsion policy began on Oct. 12, the Mexican government said, straining shelters there. The new effort comes as Republicans have criticized Biden's handling of the border and seek to gain control of the U.S. Congress in Nov. 8 midterm elections. At a shelter in the U.S. border city of Deming, New Mexico, Venezuelans went from being the most common nationality to absent, according to Ariana Saludares, executive director of Colores United, which runs the center. A spokesperson for Texas Governor Greg Abbott said the busing could continue until Biden "does his job."

NEW YORK/SAN FRANCISCO, Oct 19 (Reuters) - A group that works with union pension funds is pressing Hyundai Motor Co (005380.KS) to respond to reports of child labor at U.S. parts suppliers, warning of potential reputational damage to the Korean automaker. In addition, the letter cited a recent federal and state investigation into children working at another Hyundai supplier in the state. Reuters first documented child labor practices at Hyundai-owned SMART Alabama LLC earlier this year. "Hyundai will continue to closely review the labor operations of its suppliers to ensure full compliance with all local, state and federal laws," Gabriel said in an email. "I think investors like us need to step out and say, 'the value of the fines is not capturing your risk even remotely.

A Reuters investigative report in July documented children, including a 12-year-old, working at a Hyundai-controlled metal stamping plant in rural Luverne, Alabama, called SMART Alabama, LLC. read moreFollowing the Reuters report, Alabama's state Department of Labor, in coordination with federal agencies, began investigating SMART Alabama. The executive also pledged that Hyundai would push to stop relying on third party labor suppliers at its southern U.S. operations. Munoz told Reuters: "Hyundai is pushing to stop using third party labor suppliers, and oversee hiring directly." SL and Smart Alabama did not immediately respond to requests for comment.

☆ How much media and tech giants from Disney to TikTok pay employees in the US
▼ + stars: | 2022-10-19 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +12 min

And tech companies like TikTok have made key hires from more traditional media spheres. These are base salaries, and do not include other forms of compensation such as stock options or cash bonuses. DisneyDisney and its US streamer Hulu offered base salaries ranging from $93,150 to $242,000 per year, according to wages from 132 foreign-labor-certification applications. Most of the salaries were for streaming and tech jobs, including data scientist and software engineer roles. Most of the salaries were for data, engineering, and other tech jobs based in San Francisco, California; and Seattle, Washington.

The Chase Sapphire Reserve offers insurance and benefits that are useful for frequent travelers. Here's a look at the top features that make the Chase Sapphire Reserve a must-have for frequent travelers. When you make the reservation with the Chase Sapphire Reserve, however, that insurance is a hard pass. In addition, Chase added $10 per month in Gopuff credit to many of its cards through December 2023, including the Chase Sapphire Reserve®. The Chase Sapphire Reserve® has one perk that can save you tens of thousands of dollars should you ever need to use it.

☆ Home sellers desperate to get the highest possible price should consider these 9 quick upgrades that help add value to any property
▼ + stars: | 2022-10-18 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +2 min

Experts told Insider which quick fixes they recommend to help buyers get the highest possible price. That leaves sellers scrambling to get the highest possible price for their property. The median asking price of new listings is up nearly 9% from this time last year to $383,000, while the median sales price is up 7% to $368,000, according to Redfin. It means sellers have to put in a little more effort to clinch the sale at all, not to mention to fetch the highest price. The Manhattan property sold for its full asking price: $775,000.

☆ This is the seventh bear market rally this year, says Rosenberg Research's David Rosenberg
▼ + stars: | 2022-10-17 | 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 EmailThis is the seventh bear market rally this year, says Rosenberg Research's David RosenbergRosenberg Research Founder David Rosenberg joins 'Closing Bell' to discuss hedging during a bear market rally, the nuances of consumer spending and ballooning credit card balances.

☆ Five dads who bonded over trail running bought family vacation homes together in Hawaii. Now they jog under palm trees while their 21 children play.
▼ + stars: | 2022-10-15 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +5 min

Ryan Seare, 47, was the first of his neighborhood friends to invest in a Hawaii vacation home. He convinced four other families to join him at a property in Kauai where shares start at $445,000. For his precedent-setting investment, Seare chose Timbers Kauai, an intimate community of 47 homes tucked away on Kauai's southeast shore near a lighthouse, a marina, and a Costco. Between the Seare, Phillips, and Smith families, there are 13 kids ranging in age from 2 to 17. "Sometimes when you're on vacation, you don't want to see people you know, because that's part of vacationing.

☆ Top economist David Rosenberg predicts US inflation will plummet below 3% next year - and warns the Fed's rate hikes are courting disaster
▼ + stars: | 2022-10-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Fed is fighting inflation too hard as price pressures are fading, David Rosenberg said. The Rosenberg Research chief expects inflation to drop from over 8% to below 3% in the next year. Rosenberg warned that if the Fed keeps tightening its monetary policy, it could tank house prices and spark a credit crunch in the banking sector. He suggested the Fed has a "once burnt, twice shy mentality" after reacting too slowly to the inflation threat, and may have overcorrected as a result. Notably, Rosenberg warned investors not to expect stocks to rebound instantly once the Fed starts easing its policies again.

In August, authorities accused Alexander City, Alabama-based SL Alabama in federal court of violating child labor laws. The action against SL Alabama, which supplies lights and mirrors for Hyundai and Kia assembly plants in the U.S. South, came following a July Reuters article that documented child labor practices at another auto parts supplier in the state, Hyundai-owned SMART Alabama LLC. SL Alabama agreed to implement new monitoring and training programs, the federal regulator said. "Our investigation found SL Alabama engaged in oppressive child labor," said Kenneth Stripling, DOL's Wage and Hours Division Director in Birmingham, Alabama, in the statement. Regulators said plant operators are accountable for child labor violations even when unauthorized employees are brought in by third-party recruiting firms.

☆ Waymo workers form union in the latest push to organize Silicon Valley
▼ + stars: | 2022-10-10 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Food service employees at the autonomous driving company Waymo are forming a union, the latest push by support workers to organize at Silicon Valley's most prominent companies. The workers are employed by Sodexo, which contracts service work for Google and other companies. "We are confident this one will also reach an amicable agreement for workers, the union, and our client very soon." The workers are part of Silicon Valley's ranks of contractors who support and supplement the work at tech companies. Her team unionized in 2020, and some of them have been joining meetings with the Waymo workers to show them the ropes of organizing and talk up the union.

The Free Application for Federal Student Aid, or FAFSA, is a form used to apply for financial aid. If you're a dependent, you'll need your parents' financial information in addition to your own. Gather your personal financial informationBefore you start filling out the FAFSA, you should gather your basic personal financial information. You log in with a government ID called the Federal Student Aid ID. Work with your school's financial aid office to make up the rest.

☆ Premarket stocks: The bond market is crumbling
▼ + stars: | 2022-09-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The global bond market is having a historically awful year. Vanguard’s $514.5 billion Total Bond Market Index, the largest US bond fund, is down more than 15% so far this year. The iShares 20+ Year Treasury bond fund (TLT) (TLT) is down nearly 30% for the year. What’s next: The bond market may face fresh volatility on Friday with the release of the Federal Reserve’s favored inflation measure, the Personal Consumption Expenditure Price Index for August. If the report comes in above expectations, expect bond yields to move even higher.

☆ Luxury homes in pandemic real-estate boomtowns like Denver and Austin are lingering on the market as sales of pricier homes drop 28% nationwide
▼ + stars: | 2022-09-28 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +4 min

Pandemic hot spots are among the most affected by the slowdown as homes sit on the market. Prices for luxury homes are still rising in all of the country's 50 biggest metropolitan areas. The cracks in the market are beginning to show in cities like Denver, Austin, and Detroit, which all saw an influx of monied buyers during the pandemic. The same cities that saw inventory linger saw the largest increase in new luxury listings coming onto the market in the third quarter. The median sale price of luxury homes still rose in the 50 most populous metros tracked by Redfin.

Register now for FREE unlimited access to Reuters.com RegisterWhite House spokesperson Karine Jean-Pierre said the measures would include penalties on individuals and entities both inside and outside of Russia that support the annexation. Jean-Pierre said the United States will not recognize Russian-annexed areas across Ukraine. But senators pressed O'Brien and Elizabeth Rosenberg, Treasury assistant secretary for terrorist financing and financial crimes, on U.S. sanctions on Russia's energy sector. Washington and its G7 partners have said they will put a price cap on Russian oil in place, but have held back from directly targeting major Russian energy companies over concerns about energy prices and supply. O'Brien also said Washington will continue working with China to ensure it understands U.S. sanctions and the effect they have on China's engagement with Russia.

☆ U.S. whistleblowers aiding migrant children feared retaliation -watchdog
▼ + stars: | 2022-09-27 | by ( Ted Hesson | ) www.reuters.com time to read: +3 min

REUTERS/Jose Luis Gonzalez/File PhotoWASHINGTON, Sept 27 (Reuters) - U.S. government workers feared retaliation for raising concerns last year about the treatment of unaccompanied migrant children on a Texas military base, where children have been held amid record arrivals at the U.S.-Mexico border, according to a watchdog report released on Tuesday. There are currently 589 children at the base, the official said, and children stay, on average, for 13 days before being released to parents or other sponsors. ORR's parent agency agreed with all the report's recommendations, including ensuring that employees and contractors are aware of whistleblower protections. In a letter to the inspector general, the agency pledged to more explicitly specify the protections in contractor agreements and trainings. To alleviate overcrowding in border stations, HHS opened several emergency shelters to house unaccompanied children until they could be placed with sponsors in the United States.

☆ $100 million is the new frontier for South Florida luxury homes, says agent Dina Goldentayer, who sold $750 million in real estate last year via chauffeured car, helicopter, and golf cart
▼ + stars: | 2022-09-27 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +4 min

Griffin's $100 million buy is more than double the 2019 record for Miami's priciest single-family home. A Golden Beach compound is on the market for $100 million — and is being marketed as a gut job. "Now $100 million seems to be the threshold that captures the public's imagination. While Miami's ultraluxury market thrives, its less-pricey sectors are beginning to normalize, Miller said. Douglas Elliman's South Florida market reports, which Miller compiles, point to a slowdown in new signed contracts, but that's in comparison with the supercharged market of 2021.

☆ An exclusive Miami island is getting a slew of $30 million-plus condos — and you have to be invited to buy them
▼ + stars: | 2022-09-22 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +3 min

Related Group and its partners have closed on the last developable parcel of land on Fisher Island. Fisher Island, a seven-minute ferry ride south of Miami Beach that sits at the intersection of Biscayne Bay and the Atlantic Ocean, has long been the stomping ground of the elite. Wealthy people can be discreet about their mansions, but we know that Oprah, Julia Roberts, and Mel Brooks are former Fisher Island residents. The enclave has also won some superlatives: Bloomberg determined Fisher Island was America's wealthiest ZIP code in April 2018, with an average income of $2.5 million in 2015. Fisher Island made headlines in 2020 for nabbing COVID-19 antibody tests for all the residents of its about 800 homes in the early days of the pandemic.

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