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☆ The 10 colleges that offer the best value without financial aid—they're all public schools
▼ + stars: | 2024-09-11 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

College graduates earned a median of $60,000 in 2023, compared with $36,000 among workers with only a high school diploma, according to the New York Fed. The school offers the best value for students without financial aid, according to The Princeton Review. DON'T MISS: How to master your money and grow your wealthThese are the 10 colleges that offer the best value to students without financial aid. Tuition prices are for first-year, full-time students, according to each school. Average net prices reflect the average prices paid by students who don't receive federal financial aid after scholarships and grants, according to the latest available data from the National Center for Education Statistics.

Organizations: New York Fed, Georgia Institute of Technology, Princeton, Colleges, National Center for Education Statistics

☆ VMAs top moments from Taylor Swift, Sabrina Carpenter, Katy Perry and Carson Daly
▼ + stars: | 2024-09-11 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +5 min

Taylor Swift’s 9/11 tribute and call to actionTaylor Swift took a moment to honor victims of the September 11 attacks of 2001 while accepting the first award of the evening. (L-R) Post Malone and Taylor Swift accept the best collaboration award for "Fortnight." Swift’s message to young voters comes after she made a splash on Tuesday when she endorsed Kamala Harris’ presidential run. Pop singer Sabrina Carpenter kissed an alien onstage during her hotly-anticipated performance. “It was the best, best show.

Persons: Taylor Swift’s, Chappell Roan, Sabrina Carpenter, Katy Perry, Eminem, “ Houdini, Lenny Kravitz, Megan Thee, Taylor Swift, “, I’ve, ”, ” Swift, Post Malone, Swift, Manny Carabel, Travis Kelce, Kamala Harris ’, Carpenter, Cyndi Lauper, Bob Mackie, Madonna –, ” Lauper, Orlando Bloom, Katy Perry Katy, Perry, Bloom, ” Perry, Daisy, ” Chappell, Chappell Roan of Arc, Roan, Babe, Joan of Arc, Noam Galai, ” Carson Daly, Carson Daly –, –, Lisa, ” Daly Organizations: CNN, VMA, Post, Poets Department, ”, Moon, MTV Locations: New York, New York City

☆ I watch the NFL and other live sports for free with this easy, old-school hack. You can, too.
▼ + stars: | 2024-09-11 | by ( Alistair Barr | ) www.businessinsider.com time to read: +1 min

NFL season opened with a stealth bomber fly-over in Kansas City last week. Digital TV antennas offer a cost-effective way to watch live sports without pricey subscriptions. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe NFL season opened last week with a stealth bomber soaring over the Kansas City Chiefs' stadium while Coco Jones belted out The Star-Spangled Banner.

Persons: CivicScience, —, Coco Jones Organizations: Service, Kansas City Chiefs, TiVo, Business Locations: Kansas City

☆ Solar stocks are winners from the presidential debate and we've got one primed to run
▼ + stars: | 2024-09-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If there were any winners from the debate, solar stocks would be it. Other solar stocks such as Array and First Solar were soaring as well. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Kamala Harris, Donald Trump, Jim, Morgan Stanley, Goldman Sachs, Morgan, Stocks, Campbell, Buster's, Jim Cramer's Organizations: CNBC, Fed, Williams, Viking Therapeutics, Dave Locations: United States, Sonoma

☆ Spanish city billboards urge British tourists to keep their clothes on and behave appropriately
▼ + stars: | 2024-09-11 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Authorities in the Spanish city of Malaga have posted billboards that aim to educate tourists on appropriate behavior during their visit, including one that reminds them to wear clothes. Now, city hall has launched a campaign that aims to cut down on some of the more visible examples of bad behavior. “Both on the street and in public places always wear an upper garment for respect and hygiene.”Another billboard from the campaign. The city is one of many in Spain and its islands that is pushing back against the impact of tourism. In May, there were further crackdowns on party boats and public drinking on the islands of Ibiza and Mallorca.

Persons: Costa, ”, Amarachi Orie Organizations: CNN, Authorities, del Sol, Malaga Tourism, Costa del Sol, – Locations: Spanish, Malaga, del, Andalusia, Spain, United Kingdom, Barcelona, Ibiza, Mallorca, Canary

☆ Chinese-Owned Bitcoin Mines Are Using up America's Energy, Electricity
▼ + stars: | 2024-09-10 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +13 min

Concerns about the use of cryptocurrencies for illegal activity resulted in an effective ban on crypto mining and transactions. After a massive public outcry at the end of 2021, mining companies in Kazakhstan were effectively cut off from the grid. Today, the US makes up about 40% of the global hashrate — up from 17% during China's 2021 peak — making America the biggest hub for bitcoin mining. However, in recent years, bitcoin mining has become increasingly concentrated in the hands of a small number of private companies. Given how much energy bitcoin mining consumes, it's worth questioning whether its presence in the US is really worth the trade-off.

Persons: Xi Jinping, Zoe Liu, hasn't, pushback, haven't, Jeremy Fisher, Fisher, Gladys Anderson, Kelley Sayre, Stephanie Marsh, Marsh, Gavin Newsom, would've, Donald Trump, Trump, Satoshi Nakamoto, Saifedean Ammous, Cheyanne Diehl, wasn't, Biden, Joe Biden, Liu Pengyu, America Organizations: Council, Foreign Relations, Mining, Cambridge, Goodyear, Sierra, Environmental, New York Times, Tech, Gov, Securities and Exchange Commission, July's Bitcoin, SEC, National Bureau of Economic Research, Inc, Nasdaq, Embassy, EV, Sierra Club, City Council, Digital Locations: China, Kazakhstan, America, Utah, West Virginia, Akron , Ohio, Rockdale , Texas, Murphy , North Carolina, Massillon , Ohio, Bono , Arkansas, Vilonia , Arkansas, Akron, California, Nashville, Massillon, Ohio, Chinese, Massillon's City, In Arkansas, Wyoming, Washington, Harrison , Arkansas

☆ Fossils show that massive pterosaurs could fly millions of years ago
▼ + stars: | 2024-09-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

The newly discovered fossils preserved 3D structures within the delicate wing bones, which typically are found flattened like pancakes within rock layers. CT scans of the fossils provided a rare glimpse inside the wing bones belonging to two species of pterosaurs, including one new to science. These are not unlike those found in the wing bones of modern birds that flap their wings to fly, Rosenbach said. In contrast, spiral ridges within Arambourgiania’s wing bones resembled the interiors of vulture wing bones, which are thought to resist the forces associated with soaring. “They represent the largest animals with the capacity to fly,” Rosenbach said of the extinct reptiles.

Persons: Kierstin Rosenbach, It’s, Tal Inab, “, philadelphiae, Jordan, Rosenbach, ” Rosenbach, Kierstin, Monique Perez, Stacy Kaneko, Danielle Goodvin, Jeff Wilson Mantilla, ”, Michael Benton, Benton, “ It’s, Dr Organizations: CNN, University of Michigan, University of Michigan’s, of Paleontology, University of Bristol Locations: what’s, Jordan, Africa, Ann Arbor, Arambourgiania, United Kingdom

☆ Top 10 people most likely to reach trillionaire status
▼ + stars: | 2024-09-06 | by ( Robert Frank | ) www.nbcnews.com time to read: +3 min

According to a new report from Informa Connect Academy, which predicts trillionaire status based on average annual growth rate in wealth, Tesla CEO Elon Musk will likely be the first trillionaire. Musk is currently the world’s richest person, with $251 billion, according to the Bloomberg Billionaires Index. The second to reach trillionaire status, according to the report, will be India’s Gautam Adani, founder of the Adani Group conglomerate. If Adani maintains his recent annual growth rate of 123%, the report says he will be a trillionaire in 2028. The report predicts Pangestu could reach trillionaire status by 2028.

Persons: ”, John D, Rockefeller, Berkshire Hathaway, Warren Buffett’s, Elon Musk, Musk, Gautam Adani, Adani, Jensen Huang, Pangestu, Bernard Arnault, Mark Zuckerberg, Jeff Bezos, wouldn’t, Larry Page, Sergey Brin Organizations: “, New York Times, Berkshire, Nvidia, Informa Connect Academy, Bloomberg, Connect, Adani Group, Barito, Meta, Google

☆ US Open ticket prices for the all-American men’s semifinal matchup are surging
▼ + stars: | 2024-09-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

The cheapest price to attend the Friday night match at Arthur Ashe Stadium is priced at $333 for one ticket, according to TickPick, an online secondary ticket marketplace. On average, fans are paying about $500 for the 7 pm ET match, which is the fifth-most-expensive US Open men’s semifinal on record, a TickPick spokesperson told CNN. Notably, the demand to see the lower-ranked American players is far greater than the matchup that features the No. Prices for Fritz vs. Tiafoe match are 231% more expensive for the cheapest ticket compared to the cheap seats for Sinner’s 3 pm ET match against Britain’s Jack Draper. The least-expensive prices for that match are hovering around just $80, and court side prices are about $1,500.

Persons: Taylor Fritz, Frances Tiafoe —, Arthur Ashe, Italy’s, Britain’s Jack Draper, Fritz, hasn’t Organizations: New, New York CNN, CNN, Fritz Locations: New York

That continues a trend from 2023, when generative AI companies raised $25.9 billion for the full year, up more than 200% from 2022. The average round for AI companies is 140% bigger this year compared with last, the data shows, while for non-AI companies the increase is only 10%. Most venture investors are bullish on the potential for generative AI to eventually create big returns at the application layer. John-David Lovelock, an analyst at Gartner and a 35-year veteran of the IT industry, sees a big opportunity for generative AI in the enterprise. Yet, in 2024, only 1% of the trillion dollars spent on software will be from businesses spending on generative AI products, he said.

Persons: Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, aren't, They're, Melissa Incera, Chip Hazard, PitchBook, that's, Cerebras, hasn't, Jeremiah Owyang, Owyang, That's, —, Cohere, Tobias Lutke, Inovia, JPMorgan Chase, Elon Musk's, what's, NASA's, Joe Raedle, Michael Harris, David Lovelock, Lovelock Organizations: Amazon Web, Getty, Microsoft, Nvidia, Tech, P Global Market Intelligence, CNBC, U.S, Forge, Flybridge Capital Partners, Federal Reserve, Meta, Nasdaq, Benchmark, Foundation Capital, SEC, Blitzscaling Ventures, Menlo Ventures, Inovia, Menlo, SPV, AMD, Oracle, Representatives, JPMorgan, Morgan Private Ventures, Elon Musk's SpaceX, SpaceX, Polaris, NASA's Kennedy Space Center, New York Stock Exchange, NYSE, Astera Labs, Tempus, Google, Facebook, Gartner Locations: Vegas, Las Vegas, PitchBook, Anthropic, Montreal, xAI, Cape Canaveral , Florida

☆ NFL team sales are likely to stall as valuations soar
▼ + stars: | 2024-09-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Abbie Parr | Getty Images Sport | Getty ImagesThe Seattle Seahawks may be the next National Football League team to sell. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. Seven of the last 10 NFL teams to be sold outperform the S&P 500 on a percentage-gained basis since the sale. Each of the last four NFL team sales has set a new record, showcasing the rise in valuations. WATCH: New England Patriots owner Robert Kraft on new NFL private equity ruleswatch now

Persons: Abbie Parr, Paul Allen, Allen's, Jody, Marc Ganis, Roger Goodell, It's, There's, Neal Pilson, That's, Ganis, —, Daniel Snyder, Josh Harris, Terry Pegula, Kim, Ralph Wilson, David Tepper's, Jerry Richardson, Rob Walton, Pat Bowlen, Virginia Halas McCaskey, George Halas, McCaskey, George McCaskey, They're, Goodell, Curtis Martin, Tracy Gallagher, Gallagher, Robert Kraft, Kraft Organizations: Getty, Seattle Seahawks, National Football League, Former Seahawks, Microsoft, NFL, Disney, National Basketball Association, Netflix, CBS Sports, Pilson Communications, NBA, Washington, Philadelphia 76ers, National Hockey League's New Jersey Devils, Billionaire, Buffalo Bills, Carolina Panthers, Panthers, Walmart, Denver Broncos, Bills, Broncos, Chicago Bears, Bears, The Miami Dolphins, Los Angeles Chargers, Ares Management, Sixth Street Partners, Arctos Partners, Equity, Blackstone, Carlyle Group, Capital Partners, Arta Finance, NHL, Major League Baseball, New England Patriots, CNBC Locations: U.S, Spain, Germany, Brazil

☆ Soaring sports team values create new pressure for owners on taxes, succession
▼ + stars: | 2024-09-03 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

Ric Tapia | Getty Images Sport | Getty ImagesSports team owners benefiting from soaring team values are also facing new pressure from two of the oldest certainties in American wealth: death and taxes. With the average age of team owners rising, and team values skyrocketing into the billions, owners and leagues are increasingly focused on how to ensure smooth ownership transitions to the next generation of buyers. Succession and taxes have become especially important in the National Football League, where the average age of team owners is now over 72 and team values are all surging. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. So owners have to be planning for the potential for more punitive estate taxes in the coming years.

Persons: Ric Tapia, Stephen Amdur, Pillsbury Winthrop Shaw Pittman, Robert Frank, Pat Bowlen, Rob Walton, Bud Adams, Grant Halverson, Amy Adams Strunk, Tom Benson, Gayle, Jonathan Bachman, Joe Robbie, George " Papa Bear, Halas, George Halas, Amdur, That's, Roger Goodell Organizations: NFL, Los Angeles Rams, Houston Texans, NRG, Getty, Sports, Pillsbury, National Football League, Former Denver Broncos, Tennessee Titans, Minnesota Vikings, Getty Images Tennessee Titans, Longtime New Orleans Saints, National Basketball, New Orleans Pelicans, New, New Orleans Saints, Mercedes, Benz, Miami Dolphins, NBA, Chicago Bears, Bettmann Locations: Houston, Nashville , Tennessee, New Orleans, New Orleans , Louisiana

☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ Defense stocks in an ESG portfolio? A profound — and controversial — shift seems to be underway
▼ + stars: | 2024-09-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Jessica Gow | Afp | Getty ImagesRussia's ongoing war in Ukraine has resulted in a profound shift in the way defense stocks are viewed by mission-driven fund managers, according to two European defense giants. Defense stocks have typically been excluded from portfolios based on environmental, social and governance (ESG) factors due to ethical concerns over their association with warfare. Nonetheless, the inclusion of defense stocks in sustainably-minded portfolios remains controversial. It's really important that we see the role that defense companies play in protecting a free society. It's really important that we see the role that defense companies play in protecting a free society," he said.

Persons: Micael Johansson, Jessica Gow, Johansson, CNBC's Silvia Amaro, It's, Brad Greve, BAE Systems Johansson, hasn't, Ida Kassa Johannesen, Johannesen, Justin Tallis, Saab's Johansson, ESG, John Keeble, Greve Organizations: Saab, Afp, Getty, BAE Systems, Ukraine —, Saxo Bank, CNBC, Democratic, U.S, Republican, Democrats, Malloy Aeronautics, British Aerospace BAE Systems, Farnborough, Exhibition, Conference Centre Locations: Stockholm, Ukraine, Africa, Democratic Republic, Congo, Palestine, London, Farnborough, England

☆ 10 major US cities where rent is affordable and falling fast as national apartment prices reach record highs
▼ + stars: | 2024-09-01 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

"Strong renter retention alongside our growing national rent index underscores the robust demand present in the US market." AdvertisementThe best explanation is that apartment supply remains capped in those markets, Zumper noted. Of those, 28 also happen to have lower rents for one-bedroom apartments than the national median of $1,534. To help renters save, Business Insider narrowed that list down even further to 10 cities where one-bedroom units are cheaper than the national median and rent is down at least 5% year over year. Below are those 10 cities along with their year-over-year and month-over-month rent changes, median rent prices, the monthly savings vs national median, and the national rent rankings among the nation's 100 largest real-estate markets.

Persons: —, Zumper, they've, Anthemos Georgiades Organizations: Service, Business, Syracuse University, Yale University, University of Kentucky, University of Wisconsin, University of Nebraska Locations: Syracuse , New York, New Haven , Connecticut, Lexington , Kentucky, Madison , Wisconsin, Lincoln , Nebraska, Madison, Lincoln, North Carolina, Texas

☆ A reenergized Democratic campaign draws convention ratings win over Republicans
▼ + stars: | 2024-08-24 | by ( Hadas Gold | ) edition.cnn.com time to read: +5 min

Harris’ viewership victory amounted to a blow for Trump, who is famously obsessed with television ratings and the size of his crowds. The boost in viewership was also seen at ABC with 4.2 million viewers, and CNN with 3.9 million. Last month’s Republican convention in Milwaukee took place just days after the assassination attempt on Trump. As pressure mounted, Biden ended his campaign the weekend after the Republican convention. The singer had previously given the Harris campaign permission to use her 2016 hit “Freedom,” which played Thursday night as Harris took the stage.

Persons: Kamala Harris, Harris, Donald Trump’s, Trump, Harris ’, Bill Clinton, Barack Obama, Hillary Clinton, Michelle Obama, Stevie Wonder, John Legend, Kerry Washington, Mindy Kaling, Lil Jon, Last, Hulk Hogan, Kid Rock, Joe Biden, Biden, Beyoncé, Bey, ”, Taylor Swift Organizations: New, New York CNN, Democratic National Convention, Republican, Nielsen, Convention, Fox News, MSNBC, ABC, CNN, Fox, RNC, YouTube, SPAN, DNC, Trump, Democratic, CNN’s, TMZ, Hollywood Reporter, Beyoncé’s Locations: New York, Chicago, Milwaukee

Harris called for ending taxes on tips while rolling out a series of populist economic proposals last week, echoing a policy Trump already supported. The vice president pointed to Trump’s opposition to a bipartisan border security and immigration bill, which turned Republicans against the measure. Vice President Kamala Harris gestures as she steps from Air Force Two upon arriving at Joint Base Andrews, Maryland, on August 23, 2024. As the sitting vice president, Harris’s response to an economic calamity or foreign crisis would be closely scrutinized. The spokesperson also said there have been more than 1,000 sign-ups for Students for Harris chapters across the country since the launch of Harris’ campaign.

Persons: Kamala Harris, Donald Trump, Joe Biden, Harris, eyeing, Trump, Robert F, Kennedy Jr, who’s, ” Kennedy, Biden, showdowns, I’m, Hawaii Democratic Sen, Brian Schatz, “, ” Harris, ”, she’s, ‘ We’re, ’ She’s, Ohio Sen, JD Vance, Kamala, mispronounced Harris ’, Harris ’, fumed, he’s, ” Trump, La Capra, Julia Nikhinson, let’s, familiarizing, —, Kevin Lamarque, Tulsi Gabbard, Gabbard, Jen O’Malley Dillon, Austin Steele, Quentin Fulks, Tim Walz, Joshua Martin, Rebecca Wright, Pinar Yildirim, Deja Foxx, “ Young, Brian Kemp, Kemp, Vance, Trump’s, ” Vance, Sean Hannity, “ We’re, ” Kemp, “ Kamala Harris, Wisconsin . Ohio Sen, Marco Bello, Walz, ” CNN’s Ted Barrett, Kate Sullivan, Kristen Holmes, Ali Main, Aaron Pellish, Alejandra Jaramillo, Priscilla Alvarez Organizations: CNN, Democratic National Convention, Trump, Democratic, ABC, Hawaii Democratic, Republican, Biden, Social Security, Air Force, Joint Base Andrews, Reuters, Union, Hawaii Rep, United Center, MSNBC, United, Minnesota Gov, Convention, University of Pennsylvania, Facebook, Harris, Georgia Gov, Georgia Republican, Party, GOP, Fox News Locations: Arizona, Trump, Glendale, Hawaii, Chicago, Ohio, Georgia, Nevada, Las Vegas, Mexican, North Carolina , Nevada , Arizona, Wisconsin , Michigan, Pennsylvania, Joint Base Andrews , Maryland, California, Chicago , Illinois, Washington, Asheboro, United States, Wisconsin . Ohio, Kenosha, Kenosha , Wisconsin

☆ Alice Walton is the world's richest woman — and may soon be worth $100 billion
▼ + stars: | 2024-08-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Alice Walton has overtaken Françoise Bettencourt Meyers as the world's richest woman this year. The Walmart and L'Oréal heiresses are worth $95 billion and $90 billion respectively, per Bloomberg. Walton is close to passing the $100 billion mark and joining the elite club of centibillionaires. AdvertisementThe heiress to the Walmart fortune has leapfrogged the L'Oréal heiress to become the world's richest woman — and could soon cross $100 billion in net worth. Alice Walton, daughter of retail icon Sam Walton, is worth more than $95 billion for the first time, per the Bloomberg Billionaires Index.

Persons: Alice Walton, Françoise Bettencourt Meyers, Walton, —, Sam Walton Organizations: Walmart, L'Oréal, Bloomberg, Service, Business Locations: centibillionaires

☆ Mexico’s President Bet Big on Oil. His Successor Will Be Stuck With the Tab.
▼ + stars: | 2024-08-24 | by ( Simon Romero | ) www.nytimes.com time to read: +1 min

On a sweltering day in August, Claudia Sheinbaum appeared with her mentor, President Andrés Manuel López Obrador, to inaugurate one of the costliest infrastructure projects in Mexico’s history: a $16 billion oil refinery. The sprawling complex in Mr. López Obrador’s home state, Tabasco, forms the capstone of an energy strategy that he will bequeath to Ms. Sheinbaum, a climate scientist, when she takes the presidency in October. Mexico’s oil production tumbled to a 45-year low this year, one of the steepest output declines anywhere in the world this century. Blackouts plagued the country after Mr. López Obrador heaped scorn on wind farms that could help satisfy electricity demand. Natural gas imports for the strained grid are soaring, making energy independence an ever more distant dream.

Persons: Claudia Sheinbaum, Andrés Manuel López Obrador, López, Sheinbaum, López Obrador Locations: Tabasco, Mexico

☆ Gold bars just hit the $1 million mark, but that doesn't mean your Costco gold bars make you a millionaire
▼ + stars: | 2024-08-24 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +2 min

But if you're among the group of Costco shoppers who bought gold bars from the retailer in recent months, don't celebrate your newfound fortune too soon. This story is available exclusively to Business Insider subscribers. AdvertisementThe gold bars sold at Costco, however, are much smaller than the standard size, typically ranging in size from 20-500 grams. The Costco gold bars are smaller, yes, but they are also more affordable for buyers looking to spend less than $10,000 on metal instead of $1 million. Despite the skyrocketing price of gold, a Bank of America investment strategist told Markets Insider that investors should keep buying gold.

Persons: — Organizations: Service, Business, Costco, Bank of America

☆ Don't get your hopes up about the housing market
▼ + stars: | 2024-08-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

One of the most painful ways higher interest rates have impacted Americans is through higher housing costs. The combination of high borrowing costs and skyrocketing home prices and rents — caused by a housing shortage — has created an enduring housing affordability crisis. On the one hand, lower borrowing costs would likely make mortgages cheaper for buyers and encourage builders to construct desperately needed new homes. But rate cuts would also spur new home construction, as builders respond to higher demand and lower borrowing costs for acquisition and construction loans. On top of high borrowing costs, builders are struggling with a severe shortage of construction workers and high building material costs.

Persons: —, Jerome Powell, Daryl Fairweather, Wells, underbuilding, Ben Metcalf, Metcalf Organizations: Service, Jackson Hole , Wyoming ., Business, Bank of England, Terner Center, Housing Innovation, UC Berkeley Locations: Jackson Hole , Wyoming

Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. "The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic. Starting in the spring of 2022, the Fed raised interest rates to a level not seen in nearly two decades as it worked to combat soaring inflation. "Make no mistake, if the labor market shows signs of further cooling, the Fed will cut with conviction," Shah wrote. Lower interest rates will provide some relief to consumer borrowers, but it will not be immediate, according to Greg McBride, chief financial analyst at Bankrate.com.

Persons: Jay Powell, Powell, ” Powell, “, Seema Shah, —, Shah, Greg McBride, McBride Organizations: ”, Dow Jones, Nasdaq, midmorning, Market Committee, Management Locations: Jackson Hole , Wyoming, U.S

☆ GM’s Cruise will offer robotaxis on Uber’s platform starting next year
▼ + stars: | 2024-08-23 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Cruise will offer its autonomous vehicles on Uber’s platform starting next year, the companies said on Thursday, as the General Motors-backed robotaxi firm attempts a comeback. The multi-year partnership will allow Uber riders to choose a trip using a Cruise autonomous vehicle, they said. Uber’s partnership with Cruise comes as Tesla CEO Elon Musk is set to unveil its delayed plans for a robotaxi product in October amid slowing demand for electric vehicles. Commercializing autonomous vehicles has been tougher than expected and taken longer than promised due to complex technology, soaring investments, tight regulatory scrutiny and federal investigations. Trips by self-driving vehicles on Uber’s platform rose six-fold in the June quarter year-on-year, helped by partnerships with companies including Waymo, as well as startup Waabi for freight services.

Persons: Reuters — Cruise, Uber, Alphabet’s, Cruise, Elon Musk, Dara Khosrowshahi Organizations: Reuters, General Motors Locations: Phoenix, U.S, San Francisco

☆ The maker of Mike Lynch's yacht says it took 16 minutes to sink and the crew should have had time to rescue passengers
▼ + stars: | 2024-08-23 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewThe maker of Mike Lynch's superyacht, which sank off the coast of Sicily, said it was "absolutely stable" and that it never should have gone down. It went down in 16 minutes," Costantino told the Financial Times. Advertisement"The boat sank because it took on water," Costantino said. Advertisement"The water came in from [hatchways] left open," Costantino told FT. "There is no other possible explanation. Witnesses told BBC News they saw a waterspout — an uncommon weather phenomenon consisting of tornadolike wind and water — before the ship went down.

Persons: —, Mike Lynch's superyacht, Lynch, Hannah, Mike Lynch, Yui Mok, Giovanni Costantino, Costantino, Recaldo Thomas, Stephen Askins, MailOnline, Matthew Schanck, Schanck Organizations: Service, Business, Divers, Italian Coastguard, Italian Sea Group, Financial Times, BBC News Locations: Sicily, Palermo, Italy, London

☆ Trump Media shares sink to post-merger low as DJT slump continues
▼ + stars: | 2024-08-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Shares of Trump Media fell to their lowest price since Donald Trump's social media company completed a merger nearly five months ago. Trump Media, which owns the Republican former president's preferred social messaging platform Truth Social, ended the trading day at $22.24 per share, a drop of more than 3.5%. The stock price has continued to be volatile, but since mid-July has lost nearly half of its value. Trump Media's stock slump in the past four weeks coincided with a swirl of seismic developments for Trump, who is both the majority stakeholder of Trump Media and a main draw for Truth Social users. The share price surged on July 15, the first trading day after Trump was nearly assassinated at a campaign rally in western Pennsylvania.

Persons: Donald Trump's, president's, Trump, Joe Biden Organizations: Trump Media, Republican, Corp, Nasdaq, Trump, Truth Social, Democratic Locations: Pennsylvania

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