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☆ How are Trump’s legal bills and the 2024 campaigns being funded? There’s a lot we don’t know
▼ + stars: | 2024-06-05 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

WOLF: How has the drain of his legal problems affected Trump’s campaign war chest? SCHOUTEN: We really don’t have the full picture of legal expenses from campaign finance reports. Senior advisers have told CNN that Trump is paying some of his legal expenses out of pocket, for instance. Bradley Crate, the treasurer of Trump’s campaign, oversees Red Curve. Neither Crate nor the Trump campaign have responded to CNN’s inquiries about the complaint.

Persons: Donald Trump, Fredreka Schouten, Trump, –, Todd Blanche, Stormy Daniels, WOLF, that’s, We’ve, Rhona Graff, Bradley Crate, Joe Biden’s, we’ve, Casey Tolan, David Wright, That’s Organizations: CNN, Trump, House, MAGA Inc, Save, Republican National Committee, America, Federal, Leadership, Trump Organization, New, Legal Center, Curve, Commission, Center, Biden, Republican Locations: New York, Manhattan, York

☆ Australia drops legal fight against X over church stabbing video
▼ + stars: | 2024-06-05 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +5 min

Brisbane, Australia CNN —Australia’s eSafety commissioner has dropped her legal bid to force Elon Musk’s social media site X to hide a violent video of a church stabbing in Sydney from global users. The eSafety commissioner had wanted X to hide the video for users beyond Australian borders. The incident set off a riot outside the church that authorities said was stoked by the rapid distribution of the video online. “The Video is, and at all material times has been, widely accessible to persons in Australia other than on the X platform, including in its full form on other social media services and various websites,” court documents said. The Assyrian Orthodox cleric was quoted in court filings as supporting the distribution of the video as an exercise in free speech.

Persons: Australia CNN — Australia’s, Elon, Julie Inman Grant, X, Inman Grant, ”, Musk, ’, Joanne Gray, ” Gray, it’s, Bishop Mar Mari Emmanuel, eSafety, she’d Organizations: Australia CNN, University of Sydney, Good Shepherd, Australian Jewish Association, Australia’s, ABC Locations: Brisbane, Australia, Sydney

☆ Apple TV+ is making a big brand partnerships hire as it warms up to advertising
▼ + stars: | 2024-06-05 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Read previewApple has made a big brand-partnerships hire who will work across its Apple TV+ entertainment business, a sign that it's serious about becoming a bigger advertising company. Lewinsky's role at Apple is expected to resemble that of Mahta Eghbali, who led copromotions for Apple TV+ films, TV, and sports and who left the company in 2023. Industry sources who work in branded entertainment said Apple TV+ has been stepping up efforts to use brands to promote its entertainment. Apple TV+ doesn't have an ad tier, but it's made a handful of hires from the TV business that have fueled speculation that it plans to introduce one, despite its long-held stance on customer privacy. Apple TV+ also recently hired a marketing vet, Tony Trujillo, to run marketing partnerships.

Persons: —, Mike Lewinsky, Eghbali, Lewinsky, Monica Lewinsky, Barbie, merch, Ted Lasso, It's, Lauren Anderson, Magno Herran, it's, Ricky Strauss, Chris Van Amburg, JP Richards, Tony Trujillo Organizations: Service, Apple, Endeavor, InBev, DP, Marriott International, Visa, Business, Creative Artists Agency, Entertainment Media Ventures, Nike, Tandem, Amazon MGM, Netflix, Lacoste Locations: 160over90

☆ U.N. Nuclear Watchdog Censures Iran and Demands Access for Inspectors
▼ + stars: | 2024-06-05 | by ( Farnaz Fassihi | David E. Sanger | ) www.nytimes.com time to read: +1 min

The United Nations’ nuclear watchdog agency on Wednesday censured Iran over its refusal to grant inspectors access to its uranium enrichment program, passing a carefully worded resolution after the United States toned it down in a bid to avoid provoking a crisis at a time in which the Middle East is already roiling. The resolution was sponsored by France, Britain and Germany in response to advances in Iran’s nuclear program over the past year and the Iranian’s government's refusal to cooperate with the agency. Russia has close security ties to Iran and purchases Iranian drones for the war in Ukraine. China is a close economic ally helping Iran evade sanctions by purchasing its oil at a discounted rate. Nine years ago, when Iran agreed to sharp limits on its nuclear program in a deal reached with the Obama administration and European nations, both Russia and China joined the effort to contain Tehran’s nuclear capabilities.

Persons: Obama Organizations: United Nations, International Atomic Energy Agency, United, Wednesday Locations: Iran, United States, France, Britain, Germany, Tehran, United Nations, Russia, China, Ukraine, Vienna

☆ We went behind the scenes of a viral TikTok series in New York City that's part of a new wave of MTV-style social shows
▼ + stars: | 2024-06-05 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

"New media is having a moment here in New York City," Valentino told BI. Related stories"We have a development team pumping out pilots, new concepts, working new concepts," Fallen Media CEO Sol Betesh told BI. Fallen Media's production team optimizes audio and video on a noisy New York City block. Sydney Bradley/Business InsiderNew York City is a main characterFallen Media is a true New York City operation. Villalpando was recently on an episode of Fallen Media's "Bite Me," and Novi was on a recent segment of "Subway Oracle."

Persons: —, Michael Valentino, Tiffany Baira, Baira, Valentino, Sol Betesh, Sydney, Davis, Jason Derulo, Michael Bublé, Brian Baumgartner, Taco Bell, they're, Betesh, We'll, Maia Novi, Fabrizio Villalpando, Villalpando, Davis Burleson Organizations: Service, Business, YouTube, Media, MTV, Sydney Bradley, New, Washington, Fallen Media Locations: New York, New York City, influencer, TikTok, Instagram, Novi

☆ Philippines: Mount Kanlaon volcano erupts sending 3-mile ash plume into the sky
▼ + stars: | 2024-06-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —Hundreds of residents living near Mount Kanlaon in the Philippines were ordered to evacuate Tuesday after the volcano erupted, sending a three-mile tall (five-kilometer) ash column into the sky that caused dozens of flights to be canceled. The Philippine Institute of Volcanology and Seismology (Phivolcs) said Mount Kanlaon erupted for six minutes on Monday evening, causing a “strong earthquake,” as the agency warned that ash fall and sulphuric odor would affect surrounding villages. Forty-three volcanic earthquakes had been recorded in the 24 hours to midnight Monday, according to the agency’s volcano summary. Images on social media showed an ash cloud shooting into the starry night sky. Situated on Negros, the fourth most populous island of the archipelago, Mount Kanlaon is one of 24 seismically active volcanoes in the country.

Persons: Kanlaon, ” Jose Chubasco Cardenas Organizations: CNN, Philippine Institute of, Civil Aviation Authority of, Silay Locations: Mount Kanlaon, Philippines, ”, Bacolod, Canlaon City, Negros Oriental, Negros

☆ The SBA is unveiling new credit lines of up to $5 million to fund small businesses
▼ + stars: | 2024-06-04 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The U.S. Small Business Administration plans to unveil new government-backed credit lines of up to $5 million for small businesses, SBA Administrator Isabel Casillas Guzman told CNBC. The SBA is launching a working capital pilot program in the coming months that is designed to be more attractive to both lenders and borrowers than the agency's existing products, Guzman said in a phone interview. The project is part of the SBA's efforts to broaden its flagship lending program for American small businesses. Through its 7(a) loan program, the SBA provides guaranties to lenders to encourage them to extend loans to small business owners. The program backed more than 57,000 loans worth $27.5 billion last year, a 7% increase from 2022; most of those loans were for less than $350,000.

Persons: Isabel Casillas Guzman, Guzman Organizations: U.S, Small Business Administration, CNBC, SBA

☆ 'TikTok got me a job I love': How Gen Z and Millennials use the social media platform to launch careers
▼ + stars: | 2024-06-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +8 min

In 2024, Gen Z workers are expected to outnumber baby boomers in the American labor force for the first time. CNBC Make It explores how Gen Zers are really putting their mark on career advice, office culture and more. Much of the advice is geared toward Gen Z and younger millennials figuring out their place in a chaotic post-pandemic work landscape. Much of the career advice on TikTok echoes the tips shared in podcasts, YouTube videos and LinkedIn thought pieces. It's just the aesthetics and format that are different — and more appealing — to Gen Z.

Persons: Jade Walters, TikTok, Gen, Zers, Baron Leung didn't, Leung, Weeks, Baron Leung, it's, jobseekers, Z, Joe Biden, It's, Walters, I've, Gen Z, Grace Dunlavy, Dunlavy, New York — Organizations: CNBC, LinkedIn, Zenith, Pew Research Center, Howard University, Saint Louis University Locations: Toronto, U.S, Chicago, New York

☆ SpaceX Starship gets green light for fourth test flight
▼ + stars: | 2024-06-04 | by ( Ashley Strickland | Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —SpaceX has received a launch license authorizing the fourth test flight of its massive moon rocket. A livestream of the flight test will be available on SpaceX’s website about 30 minutes before liftoff. “In addition, the FAA approved the mission profile that included a controlled and uncontrolled entry of the Starship vehicle. After the explosive first and second Starship test flights, the company immediately sought to frame these mishaps as successes. The nearly hour-long third test flight, conducted in March, achieved several milestones before breaking apart after reentry, rather than splashing down in the Indian Ocean.

Persons: “, “ We’re, Elon Musk Organizations: CNN, SpaceX, Federal Aviation Administration, Super, FAA, NASA Locations: Boca Chica , Texas, Gulf, Mexico, United States, China

CNN —A cyberattack on a contractor to England’s National Health Service has forced several major hospitals in London to cancel operations, blood tests and appointments and send patients elsewhere. King’s College Hospital, Guy’s and St Thomas’ have all been affected, as have numerous primary care providers in the UK capital, a spokesperson for the National Health Service (NHS) said Tuesday. The hospitals and providers affected are all partnered with Synnovis, a company that provides lab services to the NHS. Mark Dollar, the CEO of Synnovis, said the company was “incredibly sorry for the inconvenience and upset this is causing to patients, service users and anyone else affected. We are doing our best to minimize the impact and will stay in touch with local NHS services to keep people up to date with developments.”

Persons: Thomas ’, Oliver Dowson, Thomas ’ –, “, ”, Vanessa Welham, Ciaran Martin, ” Martin, Mark Dollar Organizations: CNN, National Health Service, King’s College Hospital, Synnovis, NHS, Royal, Guy’s, Gracefield, Cyber Security, Cyber Operations Locations: London, Guy’s, Royal Brompton, Streatham

☆ Summer heat will likely bring higher electric bills amid rising temperatures
▼ + stars: | 2024-06-03 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.

Persons: Mark Wolfe, ”, Wolfe, Diana Hernandez, Hernandez, “, ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke

☆ China claims married couple working for government spied for UK’s MI6
▼ + stars: | 2024-06-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China on Monday accused Britain of recruiting a married couple employed by the Chinese central government to spy for its MI6 intelligence service, as the two countries trade allegations of espionage. Those charges in the United Kingdom came after China’s MSS said in January it had detained the head of a foreign consultancy who had allegedly spied for MI6. Under Xi Jinping, China’s most authoritarian leader in decades, the country’s notoriously secretive spy agency has drastically raised its public profile and broadened its remit. In its latest statement Monday, the MSS detailed its allegations against the married couple. According to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations.

Persons: Hong, Xi, Wang, “, –, Zhou, ” Organizations: Hong Kong CNN, Ministry of State Security, Conservative Party, China’s, ”, CNN, Britain’s Foreign, Secret Intelligence Service, CIA Locations: Hong Kong, China, British, United Kingdom, Britain

☆ Meta's election tools have been blocked over privacy concerns ahead of European Parliament elections
▼ + stars: | 2024-06-02 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Spain's data watchdog suspended Meta's election products ahead of an EU vote. The agency expressed alarm that products collected excessive data from Facebook and Instagram users. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Spanish data watchdog has put the brakes on two election products from Meta that were meant to roll out ahead of the upcoming European election. The Spanish Data Protection Agency suspended Meta's Election Day Information and Voter Information Unit products amid concerns that they collected unnecessary election data from Facebook and Instagram users, the agency announced on May 31.

Persons: — Organizations: Facebook, Meta, Service, Spanish Data Protection Agency, Business

☆ Managers at Boeing's largest factory 'hound mechanics' to keep quiet about safety concerns, employee says
▼ + stars: | 2024-06-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Read previewManagers at Boeing's largest factory in Everett, Washington, "will hound mechanics" to keep quiet about safety and quality assurance concerns, a mechanic who has worked for the company for more than three decades told The Guardian. Boeing's Everett site, one of the world's largest manufacturing buildings, produces the 747, 767, 777, and 787 airplanes. The factory is also responsible for fixing the 787 Dreamliner, and the unnamed mechanic told the Guardian that it was "full of" faulty 787 jets waiting to be mended. Many of the planes arriving at Everett come from Boeing's 787 Dreamliner Final Assembly building in South Carolina, which it opened in 2011. AdvertisementFollowing the Alaska blowout incident, the FAA ordered Boeing to produce an action plan to address its safety issues.

Persons: —, Boeing's Everett, Max, Sam Salehpour, shim, Michael Whitaker, Sheikh Ahmed bin Saeed Al Maktoum Organizations: Service, Boeing's, Guardian, Business, Boeing, Everett, Alaska Airlines, Federal Aviation Authority, FAA, CNBC Locations: Everett , Washington, Everett, South Carolina, Alaska, Emirates

☆ FAA says it doesn't 'have a timeframe' for when Boeing will be allowed to increase production of its 737 Max planes again
▼ + stars: | 2024-06-02 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Read previewBoeing won't be expanding its fleet of its 737 Max planes anytime soon, according to the FAA. Although no passengers were seriously injured, the FAA barred Boeing from expanding production on Max plane models until quality and safety issues were addressed. FAA administrator Mike Whitaker discusses Boeing quality and safety issues at press conference on May 30, 2024. The FAA grounded 171 Boeing 737-9 Max planes in January before launching its investigation into Boeing's production lines and manufacturing practices. The FAA grounded 171 Boeing 737 Max planes.

Persons: —, Mike Whitaker, Andrew Harnik, Michael Whitaker, Whitaker, Max, PATRICK T, FALLON, Dave Calhoun, Stephen Brashear, they've Organizations: Service, Boeing, FAA, Alaska Airlines, Business, Getty, CBS News, Management, Max

☆ 80 years after D-Day, a dedicated team works to bring missing airmen home
▼ + stars: | 2024-06-02 | by ( Jaide Timm-Garcia | Isabel Rosales | ) edition.cnn.com time to read: +14 min

A crash site rediscoveredIn 2016, the agency received a tip the crash site had been rediscovered on farmland in Normandy. D-Day was 80 years ago and the remains of missing service members continue to be uncovered. The results are then compared to a DNA sample from the missing service member’s medical file. In 2009, Stouffer heard about other missing service members being accounted for and reached out to the agency to offer his DNA samples for analysis. Defense Visual Information Distribution ServicePhotos of the three missing airmen were stationed at the dig site, providing what the team calls intrinsic motivation along their search.

Persons: Jake Tapper, “, William Donohue, David Madson, Albert Brooks, SSgt David Madson, Eric Klinek, Franklin D, Roosevelt, Klinek, ”, Donohue, Madson, Brooks, Major McKinley McCanless, Samuel Williams Jr, ” Capt, Brian Foxworth, ” Foxworth, ” Crews, Foxworth, Sergeant Raul Castillo, Castillo, Carrie Brown, you’re, ” Brown, Brown, “ You’ve, Paul Stouffer, William McGowan, McGowan, Stouffer, ” Stouffer Organizations: CNN, Chief Washington, Democracy, Airborne, Defense POW, Agency, Department of Defense, 304th Troop Carrier Squadron, 442nd Troop Carrier Group, 50th Troop Carrier, Waco Army Airfield, Army Air Forces, Allied Forces, 101st, Information Distribution Service Paratroopers, DC, Utah, United Kingdom . Defense, Information, Offutt Air Force Base, Armed Forces Medical, Dover Air Force Base, Registration, United States Military, Air Force Locations: Normandy, France, Europe, German, Nazi Germany, England, United Kingdom, Nebraska, Delaware, U.S

☆ The Ukraine war is a huge opportunity for US intel to recruit Russian spies
▼ + stars: | 2024-06-02 | by ( Analysis Josh Campbell | ) edition.cnn.com time to read: +5 min

Editor’s Note: The CNN Original Series “Secrets & Spies: A Nuclear Game” examines the tenuous global geopolitics during the Cold War through the lens of two notorious double agents: Oleg Gordievsky and Aldrich Ames. CNN —Russia’s brutal ongoing invasion of Ukraine has provided US intelligence services with a rare opening to recruit Kremlin insiders furious with the handling of the war. “Disaffection creates a once-in-a-generation opportunity for us,” said CIA Director Bill Burns last year during a speech in the United Kingdom. Russian Foreign Ministry building is seen behind a billboard showing Z, a tactical insignia of Russian troops in Ukraine, on October 13, 2022. As the documentary underscores, the espionage lessons of the Cold War could very well determine future global stability.

Persons: Oleg Gordievsky, Aldrich Ames, CNN —, ”, Bill Burns, “, David McCloskey, Alexander Nemenov, James Schlesinger, Douglas London, Edgar Hoover, Stefani Reynolds, Jim Sciutto, Tim Naftali, –, Sarah Moon, Alex Marquardt, Donie O’Sullivan Organizations: CNN, Kremlin, CIA, Russian Foreign Ministry, Getty, FBI, BBC, Edgar Hoover FBI Locations: Ukraine, United Kingdom, Moscow, AFP, Virginia, Russia’s, Washington, Washington ,, Soviet Union, Europe

☆ What seven more months of war would mean for Palestinians, Israelis and the world
▼ + stars: | 2024-06-01 | by ( Abbas Al Lawati | Nadeen Ebrahim | ) edition.cnn.com time to read: +11 min

CNN —Israel has warned that its war in Gaza could extend until the end of the year. Prolonging the war could have catastrophic consequences for Palestinians in the already ravaged territory and significant repercussions for Israel and beyond, experts said. “And currently Hamas doesn’t seem to be ready to release them.”Impact on Israel’s economyThe war hit Israel’s economy hard in the immediate aftermath of October 7. As of January, the Israeli military was spending $272 million per day on the war, according to the Israeli news site Ynet. Despite these efforts, the war persists, civilian casualties rise and famine spreads in Gaza, intensifying pressure from some of his electorate.

Persons: CNN — Israel, Tzachi Hanegbi, ”, Joe Biden, “, Assaf Orion, Juliette Touma, Benjamin Netanyahu, Netanyahu, Yohanan Plesner, Plesner, Israel, Malcolm Shaw, Yaron Wax, Johanna Geron, INSS, Amir Levy, Orion, Daniel Hagari, ” Plesner, Biden Organizations: CNN, National, Institute for National Security Studies, Israel Defense Forces, London School of Hygiene, Tropical Medicine, Johns Hopkins Center, Humanitarian Health, Israel, United Nations, UN Relief and Works Agency for Palestine Refugees, Israeli, Israel Democracy Institute, International Criminal Court, International Court of Justice, United, P Global, Moody’s, Service, Troops, American, West Bank Locations: Gaza, Israel, Tel Aviv, Rafah, Europe, Palestinian, British, The Hague, Netherlands, Saudi Arabia, Riyadh, Egypt, United Arab Emirates

☆ Boeing and NASA call off Starliner crew launch minutes before liftoff
▼ + stars: | 2024-06-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Boeing 's first Starliner flight with astronauts on board was called off in the final minutes on Saturday. Holds in a rocket launch countdown – as well as "scrubs," indicating a launch delay – are a common occurrence in the industry. Two NASA astronauts are aboard the Starliner capsule, which would be carried by United Launch Alliance's Atlas V rocket to the International Space Station. Depending on the cause of the launch scrub, Boeing and NASA can reschedule the launch for another attempt 24 hours later, or target alternative launch dates of June 5th or June 6th. Saturday's crew flight test represents the final major step before receiving NASA certification to begin regular missions.

Persons: Lockheed Martin Organizations: United Launch Alliance, Boeing, International Space Station, NASA, United, Lockheed Locations: Florida, ULA

☆ Boeing, NASA cancel Starliner launch attempt scheduled Sunday after failed Saturday take-off
▼ + stars: | 2024-06-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Boeing's Starliner spacecraft atop the United Launch Alliance Atlas V rocket rolls out in Florida on Thursday, May 30, 2024. Leaders from Boeing, NASA and the United Launch Alliance, or ULA, held a press conference later Saturday afternoon to provide updates on the malfunction and the status of the next launch attempt. "The disappointment lasts for about three seconds," said Mark Nappi, Vice President and Program Manager of Boeing's Commercial Crew Program. Holds in a rocket launch countdown – as well as "scrubs," indicating a launch delay – are a common occurrence in the industry. Two NASA astronauts are aboard the Starliner capsule, which would be carried by United Launch Alliance's Atlas V rocket to the International Space Station.

Persons: Boeing's, Mark Nappi, ULA, Tory Bruno, Lockheed Martin Organizations: United Launch Alliance, International Space Station, Boeing, NASA, United, Lockheed Locations: Florida, ULA

☆ A major student-loan company has 'illegally' tried to collect payments from borrowers whose balances were already wiped out through bankruptcy, a federal watchdog alleges in a new lawsuit
▼ + stars: | 2024-05-31 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewA federal consumer watchdog just hit a major student-loan company with a new lawsuit. According to the press release, the CFPB accused PHEAA of illegally collecting payments from student-loan borrowers whose loans had already been discharged in bankruptcy and sending "false information" to credit reporting agencies. The lawsuit, filed in the US District Court for the Middle District of Pennsylvania, said that under the US bankruptcy code, some private student loans are not subject to the stringent standards that most student loans are when it comes to receiving relief through bankruptcy. Per the CFPB, American Education Services collected or tried to collect 7,934 private student loans after a bankruptcy proceeding between 2017 and 2021, and 177 of them were non-qualified education loans. AdvertisementThe CFPB has previously issued guidance over potential illegal collections of borrowers' payments after bankruptcy proceedings.

Persons: —, PHEAA, Rohit Chopra Organizations: Service, Consumer Financial, Bureau, Pennsylvania Higher Education Assistance Agency, American Education Services, Financial, Business, Court, Middle, Middle District of Locations: Middle District, Middle District of Pennsylvania

☆ Tariffs on China could end up making inflation worse and hurting US economic growth, S&P Global says
▼ + stars: | 2024-05-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewUS efforts to counterbalance Chinese imports could instead create unsteadiness in the country's fight against inflation, S&P Global Intelligence wrote. Advertisement"Yet economists say the new duties, and tariffs more broadly, may carry an unwelcome consequence: higher prices and a heightened probability of higher-for-longer interest rates," S&P wrote. Of the 14 categories under scrutiny, the top five accounted for just 3% of Chinese imports into the US in 2022, S&P cited. But for domestic manufacturers, tariffs can ease the pressure to lower prices, as Chinese competitors lose their low-cost advantage. In this sense, protectionism can boost economic growth in the long run, but not before fueling market inefficiencies and complicating inflation.

Persons: —, Donald Trump, hasn't shied, Biden, he's, Ben Herzon Organizations: Service, P Global Intelligence, Federal Reserve, Business, P's Locations: China

☆ Colorado’s Bold New Approach to Highways — Not Building Them
▼ + stars: | 2024-05-31 | by ( Megan Kimble | ) www.nytimes.com time to read: +1 min

It was the 1950s, and nothing was going to get in the way of building a national highway system. Today, state highway departments have rebranded as transportation agencies, but building, fixing and expanding highways is still mostly what they do. Jared Polis signed a law that required the state to reduce greenhouse gas emissions by 90 percent within 30 years. Transportation is the largest single contributor to greenhouse gas emissions in the United States, accounting for about 30 percent of the total; 60 percent of that comes from cars and trucks. To reduce emissions, Coloradans would have to drive less.

Persons: Jared Polis Organizations: Colorado’s Department of Transportation, Transportation Locations: Denver, Colorado, United States

☆ More Americans will be able to file their taxes for free through the IRS next year
▼ + stars: | 2024-05-31 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

"The Treasury Department and IRS look forward to working with states to expand Direct File for Americans across the country," Treasury Secretary Janet Yellen said in a statement. More than 140,000 taxpayers used the free filing option, the IRS reports, exceeding the agency's expectations for the pilot program. Beyond increasing access to the Direct File program to all states, the IRS is working on other ways to broaden eligibility. The IRS also announced it would extend its Free File program through 2029. "Free File was part of a successful filing season at the IRS that saw increased interest in a range of free programs to help taxpayers."

Persons: Janet Yellen, Danny Werfel Organizations: Internal Revenue Service, . Treasury, Washington D.C, Treasury Department, IRS, Treasury, Biden, CNBC Locations: Washington, filers

☆ Want a low mortgage rate? Take someone else’s
▼ + stars: | 2024-05-31 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

This means that a buyer keeps the seller’s repayment period, mortgage balance and, notably, the seller’s lower mortgage rate. Securing that ultra-low mortgage rate means that Harper will save thousands of dollars in monthly payments. “I just decided I wanted to see how low I could pay on the interest rate,” Harper said. And while the mortgage rate on the second loan may be high, the total monthly payment could still be lower — if the assumed mortgage rate is low enough. Snagging a low mortgage rate like Harper’s in today’s high interest rate environment may seem like a dream come true to some prospective homebuyers, but the process is not always smooth sailing.

Persons: ”, Ted Tozer, Ginnie Mae —, Tozer, Ellen Harper, Harper, “, ” Harper, ” Tozer, homebuyers, he’d, Raunaq Singh Organizations: CNN, of Housing, Urban, Urban Institute, Intercontinental Exchange, Federal Housing Administration, US Department of Veterans Affairs, Realtors Locations: Georgia, Georgia , Arizona , Colorado , Texas, Florida

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