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☆ Crypto spending on 2024 election hits $190 million, led by Winklevoss twins
▼ + stars: | 2024-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.

Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX

Mortgage rates probably won't drop much further if the Fed cuts rates, unless central bankers opt for a larger-than-expected cut. 30-Year Mortgage RatesAverage 30-year mortgage rates have been dropping this month and are now down near 5.70%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

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

☆ Voss Capital wants to maximize shareholder value at International Money Express. How it may play out
▼ + stars: | 2024-09-14 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Business: International Money Express is an omnichannel money remittance services company. IMXI offers money transfer services digitally through a network of agent retailers in the United States, Canada, Spain, Italy and Germany. It offers money remittance services to Latin America and the Caribbean countries, mainly Mexico and Guatemala. International Money Express is a money remittance services provider which enables consumers to send money from the United States, Canada, Spain, Italy and Germany to Mexico, Guatemala and other countries in Latin America, Africa and Asia. If the IMXI does not execute on a strategic plan, Voss will likely consider director nominations.

Persons: IMXI, Voss, Madison, Benefytt, Russell, Michael Purcell, Ken Squire Organizations: Express, Caribbean, La Nacional, Capital Management, MoneyGram, Benefytt Technologies, Madison Dearborn Partners, 13D Locations: United States, Canada, Spain, Italy, Germany, Puerto Rico, America, Caribbean, Mexico, Guatemala, Latin America, Africa, Asia, Dominican Republic, United Kingdom, Voss, Madison Dearborn, Western Union, Benefytt

☆ What this Boeing strike is really all about
▼ + stars: | 2024-09-14 | by ( Allison Morrow | Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —At the heart of the Boeing strike that began Friday is a story about what happens when penny-pinching executives lose the plot and it falls to workers to get everyone back on track. If Boeing were any other business — and not a too-big-fail half of a global duopoly — it almost certainly would have declared bankruptcy. Years of pent-up resentment over Boeing’s mismanagement, combined with pandemic-era inflation and a resurgent labor movement, made this strike inevitable. Ahead of the strike, Ortberg urged workers not to strike while acknowledging their anger over nearly two decades of past contracts that downsized their retirement and health care benefits. Almost exactly one year ago, the United Auto Workers union won historic guarantees from the Big Three automakers after a seven-week strike.

Persons: —, ”, Richard Aboulafia, James McNerney, Aboulafia, Kelly Ortberg, missteps, Ortberg, Jon Holden, “, — who’ve, Dave Calhoun’s, Holden, haven’t, ” Holden, Sharon Block Organizations: New, New York CNN, Boeing, SpaceX, International Association of Machinists, United Auto Workers, Big, UAW, hardball, Harvard Law School’s Center for Labor Locations: New York, January’s, Renton , Washington, Seattle, Virginia, South Carolina, Washington, United States

☆ Indiana Fever’s Caitlin Clark breaks WNBA single-season assists record in loss to Las Vegas Aces
▼ + stars: | 2024-09-13 | by ( Homero De La Fuente | ) edition.cnn.com time to read: +3 min

CNN —Caitlin Clark added another milestone to her historic rookie campaign, breaking the WNBA single-season assists record in the Indiana Fever’s 78-74 loss to the Las Vegas Aces on Friday night at Gainbridge Fieldhouse. Clark entered the game needing just four assists to match the previous record of 316 set by Connecticut Sun guard Alyssa Thomas in 2023. Clark finished the game with 18 points, 9 assists and eight rebounds, while Mitchell led Indiana with 20 points in the loss. Caitlin Clark of the Indiana Fever celebrates a basket during the second half of a game against the Las Vegas Aces. After the game, Clark was asked about her record-setting night, as well as Wilson’s and Chicago Sky rookie Angel Reese’s milestones this season.

Persons: Caitlin Clark, Clark, Alyssa Thomas, Kelsey Mitchell, Mitchell, Emilee Chinn, Damiris Dantas, Chelsea Gray, A’ja Wilson, Gray, Angel, ” Clark, “, ” Organizations: CNN, Indiana, Las Vegas Aces, Connecticut Sun, Dallas Wings, Getty Images Indiana, Aces, Boston, Chicago Sky, Dallas, Washington Mystics Locations: Gainbridge, Indiana

☆ U.S. firms say confidence in China has hit an all-time low
▼ + stars: | 2024-09-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

American companies in China are experiencing historically low business confidence and poor profits amid U.S.-China tensions and a slowing Chinese economy. Firms have also lost market share to Chinese competitors which have received more government support, the U.S.-China Business Council added. Their struggles in China have also been felt by EU businesses, according to an EU Chamber of Commerce in China report released on Wednesday. On how the U.S. government could support their firms in China, nearly half of AmCham respondents suggested a reduction of tariffs on Chinese goods. Foreign direct investment into China fell by 29.6% during the January to July period compared to a year ago, according to China's Ministry of Commerce.

Persons: Allan Gabor, Jeff Yuan, Evelyn Cheng Organizations: U.S, American Chamber of Commerce, U.S ., China Business Council, China Business, EU, of Commerce, China's Ministry of Commerce Locations: Shanghai, American, China, Washington, Beijing, U.S, PwC China

The hotly anticipated results are in from a landmark pair of major clinical trials of a long-acting, injectable HIV-prevention drug that only requires dosing every six months. The pharma giant has already secured approval for the injectable drug in treating highly drug-resistant HIV. Given the clear statistical superiority of lenacapavir over Truvada, the trial’s blinded phase will now be ended several months early. When taken as prescribed, Truvada is over 99% effective at preventing HIV; Descovy is comparably effective. This chorus is sure to get louder now that lenacapavir is officially highly effective at protecting gay and bisexual men and trans people as well.

Persons: lenacapavir, ”, Jared Baeten, “, ” Jen Kates, ” Gilead, Gilead, Truvada, ViiV Healthcare’s, Amy Killelea, Jirair Ratevosian, Hansel Tookes, ” Tookes, Dr, Boghuma, “ lenacapavir, Tim Horn Organizations: Gilead Sciences, pharma, NBC, Food and Drug Administration, Disease Control, PrEP, Yale School of Nursing, University of Miami Miller School of Medicine, NBC News, Southern, Affordable, CDC, Emory University Locations: Gilead, United States, ”, U.S, Australia, United Kingdom, Arlington , Virginia, America, South Africa, Thailand, Truvada, Atlanta, Saharan Africa

☆ Nearly half of US renters spend more than 30% of their income on housing costs
▼ + stars: | 2024-09-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —Nearly half of all renter households in the US were cost-burdened in 2023, meaning they paid more than 30% of their income towards housing costs, according to new government data. “Housing costs rose between 2022 and 2023 for both homeowners and renters,” Molly Ross, a survey statistician at the Census Bureau, said in a statement. Households that spend more than 30% of their income on rent, mortgage payments or other housing costs are considered “cost-burdened” by the US Department of Housing and Urban Development. In 2023, 56.2% of Black or African American households spent more than 30% of their income on housing costs, compared to 49.7% of the total population. About 2.5 million, or 30.6%, of Black households were considered “severely cost-burdened,” meaning they spent more than 50% of their income on housing costs in 2023.

Persons: Molly Ross, Kamala Harris, Donald Trump, Trump Organizations: CNN, Survey, Census, US Department of Housing, Urban Development, Federal Reserve Locations: Florida, Texas , California , New York, Louisiana, Illinois , Kansas , Minnesota, New Mexico , New York, West Virginia

☆ 88% of Asian Americans in California plan to vote but half aren’t being contacted, they say
▼ + stars: | 2024-09-10 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +4 min

The group released the survey last week with two nonprofit organizations, Asian Americans and Pacific Islanders for Civic Empowerment Education Fund and Asian American Futures. The survey authors interviewed 1,253 Asian Americans across six of the largest Asian ethnic groups in California. Ramakrishnan said the results are relatively consistent with Asian American voters in the past. Still, there continues to be a misconception that appealing to Asian Americans, which often requires multilingual outreach, is too expensive, Ramakrishnan said. But hiring more Asian Americans on campaigns could help solve that issue.

Persons: ”, Karthick Ramakrishnan, Nina Raneses, ” Raneses, Harris, Walz, ” Ramakrishnan, Ramakrishnan, Dave Min, Republican Scott Baugh Organizations: Democratic, Republican, Asian American, Pacific Islanders, Civic Empowerment Education Fund, American Futures, American, Democratic Party, Republican Party, NBC News, Democratic National, Pacific, DNC, California Asian, Asian, Congressional Locations: California, U.S, Americans, Southern California, Central Valley

☆ Campbell is dropping the ‘Soup’ from its name
▼ + stars: | 2024-09-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —No more soup for the Campbell’s company. The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company. In addition to its lineup of soups, Campbell now owns snack brands like Goldfish, Snyder’s of Hanover, Cape Cod, Pepperidge Farm and others. Campbell also recently bought Sovos Brands, maker of popular Italian food brands like Rao’s sauces. Although soup is an important part of Campbell’s business, it’s now a smaller portion of its sales.

Persons: Campbell, ” Campbell, Mark Clouse, it’s, ” Kellanova Organizations: New, New York CNN, Campbell Soup Company, Campbell’s, Sovos Brands Locations: New York, Hanover , Cape Cod

☆ Coinbase-backed lobby urges ABC to ask about crypto in Trump-Harris debate
▼ + stars: | 2024-09-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Stand With Crypto's bus tour through five battleground states kicked off last week in Phoenix and Las Vegas. Logan Dobson/Stand With Crypto AllianceStand With Crypto's bus tour through five battleground states is all about getting people registered to vote. Logan Dobson/Stand With Crypto Alliance"Bipartisan crypto legislation has already passed the House of Representatives, and more and more elected officials are coming out in support of crypto," the letter says. Stand With Crypto's tour through battleground states is more about turning out the vote than raising cash. Logan Dobson/Stand With Crypto Alliance

Persons: Logan Dobson, ABC didn't, Ohio Sen, JD Vance, Harris, Tim Walz, Joe Biden, Crypto, Sen, Kyrsten Sinema, Kyrsten, who's, Sinema, Paul Grewal Organizations: Crypto Alliance, Representatives, ABC, Trump, Public Citizen, CNN, Democratic, Crypto, Washington , D.C Locations: Phoenix, Las Vegas, Minnesota, Phoenix , Arizona, Arizona, Nevada, Michigan , Wisconsin, Pennsylvania, Washington ,

☆ Trump repeats false claims that children are undergoing transgender surgery during the school day
▼ + stars: | 2024-09-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Matt-Lavietes-Byline-Jm.Jpg | Matt Lavietes | ) www.nbcnews.com time to read: +5 min

Former President Donald Trump repeated his false claim that children are undergoing transition-related surgery during their school day, worsening fears among some conservatives that educators are pushing children to become transgender and aiding transitions without parental awareness. What the hell is wrong with our country?” Trump said Saturday at a campaign rally in Wisconsin, a vital swing state. About half the states ban transition-related surgery for minors, and even in states where such care is still legal, it is rare. The law limits the instruction of sexual orientation and gender identity in school and has been replicated in states across the country. Half of all teachers polled, including 62% of elementary school teachers, said elementary school students should not learn about gender identity in school.

Persons: Donald Trump, Jimmy, ” Trump, Trump, —, what’s, ’, ”, Karoline Leavitt, Kate King, Trump’s, Ron DeSantis, Marjorie Taylor Greene, “ Organizations: Liberty, American Association of Medical Providers, NBC, National Association of School Nurses, Democratic, Republican National Convention, DeSantis, Pew Research, Education Department Locations: Wisconsin, U.S, Florida’s, kindergartners

☆ The Kansas City Chiefs are the NFL’s current dynasty — here's why they are worth less than teams that regularly miss the playoffs
▼ + stars: | 2024-09-06 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +3 min

The Kansas City Chiefs, the NFL's current dynasty, are only the 18th most valuable team in the league at $6.07 billion, according to CNBC's Official 2024 NFL Team Valuations. The bulk of a team's revenue in a given season comes from the ballooning media rights fees that the NFL charges for its games. Contrast that with leagues like the NBA and NHL, where clubs receive a much bigger cut of playoff ticket revenue. Stadium ownership and operating rights are also a lucrative source of revenue for NFL teams. Perennial playoff teams can also be more attractive to sponsors because they can almost guarantee that thousands of additional people will be in their stadiums every year.

Persons: Jerry Jones, Jones, Lamar Hunt, — Organizations: NFL, Kansas City Chiefs, New York Jets, Denver Broncos, Chiefs, NBA, NHL, Dallas Cowboys, T, Jackson, Sports, Authority, Cowboys, Los Angeles Rams, Las Vegas Raiders, Baltimore Ravens Locations: Arrowhead, Jackson County , Missouri

☆ The Hard-Partying Lawyers Who Get Negligent Companies to Pay Billions
▼ + stars: | 2024-09-05 | by ( Jack Newsham | ) www.businessinsider.com time to read: +23 min

In 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The data provider X Ante estimated that in 2023, mass-tort lawyers spent $152 million on TV ads and millions more on social media. The decades that followed mass torts' onset on the national stage showed the big risks and big rewards of mass torts. AdvertisementIn a class action, a settlement is public, and the judge has to approve the lawyers' fees. But others are confident that indebted mass-tort lawyers can bounce back from a few bad bets.

Persons: Mike Papantonio, Pap, Johnson, Paul Cody, Bayer, Chris Seeger, audibles, Budd, Ness Motley, Motley Rice, South Carolina —, doling, Seeger, Wyeth, Phil Federico, Paul Hanly who'd, Federico, Lejeune, who've, Camp Lejeune, mack, Curt Miner, I've, Don Worley, Worley, —, Daniel A, Mark Lanier, wouldn't, Elizabeth Chamblee Burch, Burch, Ellen Relkin, Merck, Vioxx, There's, Lucian Pera, Keller Postman, Jeremy Troxel, Keller, Troxel, Michael McDonald, Warren Postman, Postman, Kelsey Vlamis, Jack Newsham Organizations: Wynn, Vegas, Camp Lejeune, pharma, Supreme, X, Pfizer, Defense, Marines, Veterans, Foreign, US Marine Corps, Johnson, University of Georgia, Business, Intuit, Rihanna, Morning Investments, Fortress Investment, Gramercy Funds, Deepwater, Investments Locations: Camp, Texas, South Carolina, Baltimore, North Carolina, Camp Lejeune, America, Beverly Hills , California, nonbanks

☆ Rising NFL valuations mean massive returns for owners. Here's how good the investment is
▼ + stars: | 2024-09-05 | by ( Michael Ozanian | ) www.cnbc.com time to read: +7 min

watch nowA National Football League team today is a $6.5 billion business. That is the average value of the NFL's 32 franchises, according to CNBC's Official 2024 NFL Team Valuations. Across the past 10 NFL teams to be sold, seven of the 10 outperform the S&P 500 on a percentage-gained basis in the period since the sale. Rising valuationsThe escalation in football team values is largely the result of the league's massive and growing media deals. The typical NFL team has an EBITDA margin of 19%.

Persons: Robert McNair, That's, Peacock, Taylor Swift, Allen J, Tampa Bay's Raymond James, Ryan Flournoy, Matt Hankins, Ron Jenkins, Rob Walton, Josh Harris, Jerry Jones, Jones Organizations: National Football League, Pro, Houston Texans, NFL, Texans, Super, Washington, Denver Broncos —, Miami Dolphins, Comcast, Disney, Paramount, Fox, YouTube, NFL Sunday, Amazon Prime, Thursday, Netflix, CNBC, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Kansas City Chiefs, Los Angeles Times, Getty, Tampa, New England's Gillette, Lincoln Financial, Dolphins, Dallas Cowboys, Los Angeles Chargers, T, Denver Broncos, Tampa Bay Buccaneers, Cowboys, The Cowboys, Dallas Locations: U.S, Chicago, Green Bay ; Wisconsin, Buffalo , New York, New York, Los Angeles, Inglewood , California, Arlington , Texas

☆ 40% of workers are behind on retirement planning. Not saving earlier was the biggest mistake
▼ + stars: | 2024-09-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Thomas BarwickMolly Richardson, 35, regularly contributes to her 401(k) plan, but the structural engineer said she isn't too worried about retirement yet. "There are so many individuals, young, mid-career and deep into their career, that are not saving enough for a healthy and secure retirement," said Jacqueline Reeves, the director of retirement plan services at Bryn Mawr Capital Management. The retirement savings shortfallOther reports show that a retirement savings shortfall is weighing heavily on Americans as they approach retirement age. LiveCareer's retirement fears survey found that 82% of workers have considered delaying their retirement due to financial reasons, while 92% fear they may need to work longer than originally planned. More than any other money misstep, not saving for retirement early enough is the biggest financial regret for 22% of Americans, according to another report by Bankrate.

Persons: Thomas Barwick Molly Richardson, isn't, Richardson, Gen Xers, Zers, Jacqueline Reeves, Reeves, Lisa Cutter, Cutter, they're, Catherine Collinson, you'll, Bryn Mawr's Reeves, Greg McBride Organizations: CNBC, Bryn Mawr Capital Management, Fidelity Investments, Pew Charitable, American, Transamerica Center, Retirement Studies, Transamerica Institute, Bankrate Locations: Jacksonville , Florida, U.S, Bryn Mawr, Terre Haute , Indiana

☆ ‘From the River to the Sea’ is not hate speech, Meta’s Oversight Board rules
▼ + stars: | 2024-09-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —Meta’s Oversight Board has found that the phrase “From the River to the Sea,” used to express Palestinian support, did not break the company’s hate speech policies. The Board said it reviewed three cases involving the use of “From the River to the Sea” on Facebook and said that all appeals to remove the content were closed without human review. Those users then appealed to the Board, which exists for users to challenge Meta’s appeals process on Facebook, Instagram or Threads. In Germany, using the slogan “From the river to the sea” is now a criminal offense. The slogan used in the cases had wide reach through Meta’s platforms.

Persons: ”, Sean Gallup, Andy Stone, Meta, Rashida Tlaib, Brian Fung, Alaa Elassar, Jennifer Henderson Organizations: New, New York CNN, Defamation League, West Bank, Facebook, Meta, Getty, CNN, Islamic Relations, Muslim Locations: New York, Jordan, Gaza, Jerusalem, Palestine, Berlin, Germany, Palestinian, Israel, Muslim Arab American, Maryland

Though many say they are thankful to have Social Security payments at all, they aren't enough to fill the gap. To help pay the bills, nearly 80% of retirees receive some Social Security income, per BI's calculations, and the Social Security Administration estimates that 97% of older adults will ultimately receive benefits. She told BI that her expected $2,000 monthly Social Security payments may not be enough. As pensions dissipate and only higher-earning retirees have savings, Social Security might only become more pivotal for retirees. Advertisement"I don't want to be rich, I just need to be comfortable," 62-year-old Angela Babin — who lives on her $1,100 monthly Social Security check — told BI.

Persons: —, Emma Echols, she'll, Echols, she's, She's, Xers, Tracey Gronniger, Cheryl Simmons, Franklin D, Roosevelt, they've, Mary Dacus, Stephen, They've, Becky Davenport, Davenport, Donald Trump, Bernie Sanders, Elizabeth Warren, Gronniger, Angela Babin — Organizations: Service, Social Security, Business, Social, Security, Social Security Administration, SNAP, Pew Research Center, Republican, Republicans, allisonkelly Locations: Alabama, San Diego, Spain, Greece, Robinson , Illinois, Florida, Anchorage

At the 2016 Democratic National Convention in Philadelphia, Rep. Patrick Maloney, D-N.Y., was met with thunderous applause as he proudly introduced transgender advocate Sarah McBride. “She is right now the first trans person ever to address a national convention,” Maloney boasted. But at this year’s Democratic convention in Chicago, trans people were notably absent from the stage. To some trans Americans, the omission did not go unnoticed. Harris, who has actively supported gay rights throughout her career, is also seen by advocates as having one of the most, if not the most, LGBTQ-friendly policy record of any presidential candidate.

Persons: Patrick Maloney, Sarah McBride, ” Maloney, ” McBride, she’s, Danica Roem —, —, Sen, Cory Booker, Kelley Robinson, Charlotte Clymer, ”, Harris, Gov . Walz, ” Clymer, Melissa Michelson, Oprah Winfrey, it’s, “, Tim Walz, Kamala Harris nodded, Pete Buttigieg, Laphonza Butler, Erin Reed, there’s, Donald Trump, Rodrigo Heng, Lehtinen, Kamala Harris, ” Heng Organizations: Convention, Democratic, DNC, Republican National Convention, NBC, U.S, Gov, Republican Party, California’s Menlo College, Gallup, Straight Alliance, Victory, NBC News, Democratic Party, GOP, Trans Locations: Philadelphia, Delaware, Virginia, Chicago, Milwaukee, Tennessee, Minnesota, D

watch nowAs the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report this week from the nonprofit watchdog group Public Citizen. More than 90% of the corporate crypto cash that's been raised was brought in this election cycle. Public Citizen's report found that of the 42 primary races that attracted money from crypto-backed super PACs, the candidate picked by the crypto industry won 36. "When Fairshake and its affiliates spend money to influence races, either by attacking crypto skeptics or boosting crypto supporters, the ads don't mention crypto at all," said Claypool.

Persons: Biden, Donald Trump, Rick Claypool, Coinbase, Andreessen Horowitz, Crypto, Brian Armstrong, Fairshake, It's, Claypool, Chuck Schumer, Kamala Harris's, Joe Biden, Harris, Faryar Shirzad, Trump, CNBC hasn't Organizations: Public Citizen, Securities and Exchange Commission, Republican, Senate, Supreme, Citizens, Federal, PAC, Public, CNBC, Trump, White Locations: Nashville , Tennessee, New York, California, cryptocurrencies, San Francisco, Nashville, United States

☆ How much money you need to be financially comfortable in 12 major U.S. cities
▼ + stars: | 2024-08-23 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

The phrase "financially comfortable" doesn't have a strict definition. In San Francisco, the net worth you'd need to feel "comfortable" is $1.5 million, according to a survey sample of 750 residents in that city — the highest amount cited among 12 major U.S. cities surveyed. Much of the difference in net worth thresholds between cities is due to shelter costs, especially in cities with severe housing shortages, like San Francisco, Los Angeles and New York City. While feeling "financially comfortable" is a subjective term, the survey makes a distinction between that and feeling "wealthy." For cities, it ranges from $4.4 million in San Francisco to $2.2 million in Dallas.

Persons: Charles Schwab's, that's Organizations: Wealth Survey, Boston, Denver, Seattle, Atlanta, Dallas, Houston, Phoenix, CNBC Locations: San Francisco, U.S, Franciscans, Francisco, California, Los Angeles, San Diego, York City, Washington, Chicago, San Francisco , Los Angeles and New York City, Dallas

But the consequences — but the consequences of putting Donald Trump back in the White House are extremely serious. Just imagine Donald Trump with no guardrails, and how he would use the immense powers of the presidency of the United States. But Donald Trump believes a border deal would hurt his campaign, so he ordered his allies in Congress to kill the deal. Because, you know, they know — they know he is easy to manipulate with flattery and favors. They know Trump won’t hold autocrats accountable because he wants to be an autocrat himself.

Persons: Kamala Harris’s, Let’s, Doug, Cole, Ella, Dougie, Joe Biden, Joe, Tim Walz, Shyamala Harris, Donald Harris, Aretha, Coltrane, Miles, Kamala, Don’t, Shelton, Uncle Sherman, Aunt Mary, Uncle Freddie, Auntie Chris —, Family, —, Maya, Michelle, Thurgood Marshall, Constance Baker Motley, Wanda, Kamala Harris, I’ve, Donald Trump, doesn’t, “, miscarrying, Couples, John Lewis, Trump, Putin, Said, Zelensky, Biden, Kim Jong, let’s Organizations: Democratic, Mayflower, White, U.S . Capitol, Capitol, U.S, Supreme, Trump, Social Security, Affordable, of Education, Medicare, Congress, Republicans, NATO, Fellow Locations: America, India, California, Jamaica, —, Illinois, Wisconsin, East, United States of America, Oakland, Calif, United States, China, Said Russia, Russia, Ukraine, Gaza, Israel, Iran, An America, American

As part of the bid, Bronfman would acquire a minority stake in Paramount. However, after placing the bid, Bronfman raised more funds to support a higher bid, said the person, who asked to remain anonymous to speak about specifics of the offer. On Wednesday, Bronfman upped the bid and submitted a revised offer of $6 billion, the person said. The agreement included a 45-day "go shop" period during which Paramount could solicit other offers. Money manager Mario Gabelli reportedly filed a lawsuit looking for Paramount to turn over its books related to the Skydance deal — a possible first step toward a lawsuit challenging the deal.

Persons: Edgar Bronfman Jr, Bronfman, Shari Redstone's, Edgar Bronfman , Jr, Skydance, Mario Gabelli, Scott Baker Organizations: Paramount Global, Skydance, Paramount, Skydance Media, Bronfman Consortium, RedBird Capital Partners, KKR, National, Amusements, nonvoting Paramount, Warner Music, Seagram, Wall Street Locations: Paramount's

☆ Video game industry faces sluggish growth in 2024 amid weak console sales, research firm says
▼ + stars: | 2024-08-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Analysts are expecting Nintendo to release a successor to its hit Switch console in its fiscal year 2025. The global video game market is set for sluggish annual growth this year amid weak sales of gaming consoles, according to a new report from market research firm Newzoo. In a blog post published Tuesday, Newzoo said the games industry is set to grow 2.1% year over year to an estimated $187.7 billion. That is slightly down from an earlier January forecast in which the firm said it expects the video game industry to grow 2.8% to $189.3 billion in 2024. Though it's a step up from last year's growth rate of 0.6%, the games industry isn't experiencing the same growth rates it saw in the heady days of the Covid-19 pandemic.

Persons: Newzoo, it's Organizations: Nintendo, U.S Locations: U.S, China

☆ The United States and Europe need China for clean energy. They will pay a price to break free
▼ + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn. Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers. Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition. Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet. Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.

Persons: “, Margrethe Vestager, ”, ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t Organizations: London CNN, Russia, Getty, ”, International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA Locations: United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego

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