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☆ Stock futures are little changed ahead of key inflation report on Wednesday: Live updates
▼ + stars: | 2024-08-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Stock futures were mostly flat on Tuesday evening as Wall Street looks to keep a strong start to the week going with a key inflation report on deck. S&P 500 futures and Nasdaq 100 futures were also down less than 0.1%. The speed of the rebound is making some Wall Street pros uneasy. The market did get a piece of good news on Tuesday when the producer price index report showed cooler inflation than expected. "I think the inflation risk is much lower than the unemployment risk," El-Erian said.

Persons: Dow, I'm, Mohamed El, Erian Organizations: Dow Jones, Nasdaq, Allianz Locations: Japan

☆ Why Jay Powell refuses to be bullied by Wall Street
▼ + stars: | 2024-08-08 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The whole episode underscored a fundamental tension between the Fed, which is focused on economic stability, and Wall Street, which is focused on profit. The message from Powell and other policymakers is clear: We won’t be strong-armed by Wall Street. The BOJ’s deputy governor, Shinichi Uchida, citing volatility in financial markets, said the bank would not raise its policy interest rate as long as markets remain unstable. Powell (formerly in finance, hazel eyes, great ties) appears to have a real opportunity to Volcker it up even more in the coming weeks. That gives Wall Street plenty of time to sit in the corner and deal with its feelings.

Persons: CNN Business ’, Summer, Tim Walz’s, Jerome Hayden Powell, Here’s, Powell, ”, Powell’s, It’s, Paul Volcker fanboy, Shinichi Uchida, Mohamed El, “, Volcker, quieting, Powell isn’t Organizations: CNN Business, New York CNN, Finance, Federal, Stock, CNBC, Wall, Bank of Japan, Bloomberg Locations: New York, FiDi, Powell, Japan

☆ Why an emergency rate cut would be a mistake for the Fed, according to Mohamed El-Erian
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed would be making a mistake in delivering an emergency rate-cut, Mohamed El-Erian said. Traders see a higher chance the Fed could trim rates over the next week in response to weakening data. AdvertisementThe Federal Reserve would be making a mistake if it delivered an emergency rate cut. Amid Monday's sell-off Bloomberg reported that markets see a 60% chance the Fed could issue a cut ahead of its scheduled policy meeting. AdvertisementGiving in to the market's demands to ease monetary policy would constitute another mistake for the Fed, El-Erian said.

Persons: Mohamed El, Erian, —, Ben Kirby Organizations: Bloomberg, Traders, Service, Fed, Thornburg Investment Management Locations: El

☆ Opinion: I’m a vaccine scientist. The devastating impacts of vaccine hesitancy have touched my life too
▼ + stars: | 2024-08-06 | by ( Opinion Mohamed Bassyouni | ) edition.cnn.com time to read: +5 min

But when my eldest son was a young child, there was no vaccine for rotavirus. Mohamed Bassyouni Gates MRIIt just so happened that my research back then supported clinical trials evaluating a vaccine candidate for rotavirus. In Saudi Arabia, where we were living at the time, my two younger children received their rotavirus shots as their doctors recommended. And researchers at the National Institutes of Health in the US determined that the vaccine also “substantially reduced hospitalization and deaths in Africa.”The expectation was that many lives would be saved around the globe thanks to the rotavirus vaccine. This could be the first new TB vaccine in 100 years.

Persons: Mohamed Bassyouni, Melinda Gates Organizations: Melinda Gates Medical Research Institute, CNN, rotavirus, National Institutes of Health Locations: Saudi Arabia, Africa, United States, Pakistan

☆ Terrorist Attack on Crowded Beachfront in Somalia Kills at Least 32
▼ + stars: | 2024-08-03 | by ( Hussein Mohamed | ) www.nytimes.com time to read: +1 min

The Islamist militant group Al Shabab claimed responsibility for the deadly assault, which started late Friday. Al Shabab have been waging an insurgency against the internationally backed government in Somalia for more than 17 years and have previously targeted the beach area, Lido, which is popular with businesspeople and officials as well as with other residents. A witness, Mohamed Jibril, said that, at the time of the attack, he had been out with friends in the area, which had been thronged with hundreds of people. “We heard a loud explosion followed by gunfire,” Mr. Jibril said in an interview. “I saw many people lying on the beach asking for help, and no one dared to help them because there was ongoing shooting.”

Persons: Al Shabab, Mohamed Jibril, “, Mr, Jibril, ” Locations: Somalia’s, Mogadishu, Somalia

Ismail Al-Ghoul and his cameraman, Rami Al-Rifi, who lived in the besieged enclave, were killed in an airstrike on their car in the al Shati refugee camp, according to the Qatar-based network. Al-Ghoul was wearing a press flak vest when he was killed, according to his colleague. Israel must stop killing journalists.”Khader Al-Za’anoun of Wafa, the official Palestinian news agency, recalled his friendship with the Al Jazeera journalist. Al Jazeera reporters Yousef Al Saudi and Anas Al Sharif could be seen breaking down as they held Al-Ghoul’s bloodied flak jacket. “Our colleague Ismail was wearing this blood-stained vest,” fellow Al Jazeera journalist Yousef Al Saudi said, as he removed the “PRESS” sign from the jacket.

Persons: Al, Ismail Al, Ghoul, Rami Al, Rifi, Ismail Haniyeh, Zeina, ”, “ Zeina, …, ” Al Jazeera, Mohamed Moawad, Ismail, Al Jazeera, Rami, Ayman Abed, Israel, ‘, “, Jodie Ginsberg, ” Khader, Yousef Al Saudi, Anas Al Sharif, Al Sharif, Wadi, “ Ismail Organizations: CNN, ” CNN, Israel Defense Forces, Protect Journalists, Al, Ministry of Health, “ Journalists, International Federation of Journalists, Ahli Baptist, Hospital Locations: Al, Gaza, Qatar, Tehran, Israel, Egypt, ‘ Israel, Wafa, Al Jazeera, Ahli, Gaza City

☆ Record heat is set to drive the cost of fruits and vegetables higher
▼ + stars: | 2024-07-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

But US consumers aren’t only taking a financial hit from this summer’s extreme heat by way of their electricity bills. Shoppers could soon have to pay much higher prices for fruit and vegetables as farmers shoulder higher growing costs from the heat, a reversal of a trend seen over the past year with the cost of fruits and vegetables dropping by 1%, according to June Consumer Price Index data. For the rest of this summer, consumers aren’t likely to see markedly higher prices for seasonal fruits like blueberries because contracts with distributors and retailers tend to be worked out in advance, he said. Climate change, he said, is causing his business to suffer financially with reduced crop yields. However, the steep costs to make that switch could also contribute to higher prices consumers pay for produce.

Persons: It’s, Tom Avinelis, ”, Avinelis, Tom Avinelis “, Mohamed bin, Kumaraswamy Ponnambalam, Ponnambalam, coauthors, Henry Gordon, Smith, it’s, Gordon Organizations: New, New York CNN, Foods, Costco, Safeway, CNN, Atlantic Council, University of Waterloo, University of Artificial Intelligence, “, Smart Agriculture, Columbia University Locations: New York, Fresno , California, Willamette, Oregon, California, Ontario, Canada, University, Abu Dhabi, Santa Maria , California

☆ The methodology behind The Breakthrough polling project
▼ + stars: | 2024-07-30 | by ( Jennifer Agiesta | ) edition.cnn.com time to read: +3 min

CNN —The Breakthrough is a project from CNN, Georgetown University, the University of Michigan, SSRS and Verasight. Each week, 1,000 Americans are asked to share what they have seen, read or heard about major presidential candidates in their own words. Results from the two surveys are combined using SSRS’s Encipher Hybrid methodology for blending probability and non-probability samples. Respondents have also been asked the same question about Biden since the start of the project. To develop topics, topic words are manually identified and augmented with words and topics identified using a combination of Noiseless Latent Dirichlet Allocation (NLDA) and Guided Topic-Noise Model (GTM).

Persons: Joe Biden, Donald Trump, Kamala Harris, Robert F, Kennedy, Jr, Harris, Biden, Lisa Singh, Josh Pasek, Michael Traugott, Budak, RoBERTa pretrained, Jennifer Agiesta, Ariel Edwards, Levy, Edward Wu, Dana Elobaid, Le Bao, Yanchen Wang, Mohamed Ahmed, Akilah Evans, Hope Wilson, Cameron McPhee, Peter K, Enns, Gretchen Streett, Amelia Goranson, Jake Rothschild Organizations: CNN, Georgetown University, University of Michigan, Massive Data, Technical, Science Locations: Verasight

Tensions were running high on both sides of the Israel-Lebanon border on Monday in anticipation of an escalation in hostilities, after Israel’s security cabinet authorized its leaders to decide on the nature and timing of an Israeli military response to a deadly rocket attack from Lebanon last weekend. The Israeli military said overnight that its aerial defense systems successfully intercepted an unmanned aircraft that crossed from Lebanon into northwestern Israel. The Israeli military did not immediately comment on those attacks. Hezbollah has denied responsibility for the rocket attack Saturday that struck a soccer field in Majdal Shams. But the Israeli military said the type of rocket used in the attack is Iranian-made and carries more than 50 kilograms (110 pounds) of explosives.

Persons: Majdal Shams, Benjamin Netanyahu, Yoav Gallant, Antony J, Blinken, Isaac Herzog, “, Matthew Miller, Adrienne Watson, Gallant, ”, Mohamed Awada, Hwaida Saad, Edward Wong, Gabby Sobelman, Myra Noveck Organizations: Hezbollah, Israel’s, United, State Department, U.S . National Security Council, Lufthansa Group, East Airlines, Lebanon’s Locations: Lebanon, Majdal, Golan, Israel, Iran, United States, Gaza, Tokyo, Majdal Shams, Iranian, Beirut’s, Beirut, Jerusalem

☆ Adidas apologizes for ad campaign linked to 1972 Munich Olympics
▼ + stars: | 2024-07-19 | by ( Issy Ronald | ) edition.cnn.com time to read: +4 min

CNN —Adidas has apologized for “any upset or distress caused,” after releasing an ad campaign for some retro sneakers based on a model first released during the 1972 Munich Olympics. Adidas then seemingly deleted any social media posts featuring her after criticism from Jewish groups and Israel. However, journalist Mehdi Hasan took issue with this line of criticism against Adidas and Hadid. “Bella Hadid has absolutely nothing in common with the 1972 terrorists – other than the fact that she is Palestinian,” Hasan posted on X. The Adidas controversy comes a week before the opening ceremony for the Paris Olympics.

Persons: Bella Hadid, Hadid, Kirstin Sinclair, Hadid hasn’t, – uncaptioned, ”, Mohamed Hadid, “, Jonathan Greenblatt, –, Mehdi Hasan, “ Bella Hadid, ” Hasan Organizations: CNN, Adidas, Israel, Getty, Adidas ’, enclave’s Ministry of Health, American Jewish Committee, Defamation, Hadid, Paris Olympics Locations: Munich, Palestinian, American, Gaza, Israel

Three Israeli hostages were rescued from his family’s building on June 8. “Hamas only trusts Hamas when it comes to those very sensitive issues such as Israeli hostages,” he said. The Israeli Prime Minister’s Office told CNN she was held by the Abu Nar family but did not provide further details. Three relatives of Abu Nar also posted on social media announcing he had been killed by Israeli forces that day. Many locals questioned why so many Palestinians had to die for the Israeli forces to rescue just four hostages.

Persons: Gaza’s, Almog Meir Jan, Andrey Kozlov, Shlomi Ziv, Noa Argamani, Abu, Ahmed Aljamal, “, Abu Muhammad El Tahrawi, Aljamal, Dr Fadel Naim, Abdelrahman El Tahrawi, ” Dr, Aljamal’s, Abdallah, ”, Gilad Shalit, ” Abdallah Aljamal, Abdallah Aljamal, Mkhaimar Abusada, Ashraf Amra, Benny Gantz, Hussein Ibish, Israel “, ” Andrey Kozlov, ‘, Kozlov, Aviram Meir, Israel’s, Nuseirat, Zainab Aljamal, Abdallah’s, Fatima, Ahmed, Zainab, Thomas Bordeaux, Zainab, –, Argamani, Mohamed Ahmad Abu Nar, Abu Nar, Bilal Mazhar, ” Mazhar, Khalil Al, ” Noa Argamani, Yakov Argamani, Kahlot, CNN he’d, Mohamed Ahmed Organizations: CNN, Nova, Palestine, Neighbors, Gaza’s Ministry of Labor, Facebook, Qassam Brigades, Hamas, Palestinian Center, Policy, Survey Research, Science, Al, Azhar University, Civil, Getty, Gulf States Institute, Palestine Chronicle, Israel Defense Forces, Minister’s, Israeli Army, Reuters Locations: Gaza, Nuseirat, Israel, Cairo, Anadolu, Israeli, Washington

CNN —A suspected serial killer has confessed to murdering 42 women over the past two years, police in Kenya have said, in a shocking case that has sparked calls for increased measures to combat gender-based violence in the country. Authorities said Collins Jumaisi Khalusha, 33, “lured, killed, and disposed of 42 female bodies,” of which only nine have been recovered. Gerald Anderson/Anadolu/Getty Images“We are dealing with a serial killer, a psychopathic serial killer who has no respect for life,” Amin said Monday. A group of female leaders called for enhanced protections for Kenyan women on Monday after increasing cases of femicide. “It is so sad that someone who killed 42 people was still roaming out there.

Persons: Collins Jumaisi Khalusha, “, Mohamed Amin, ” Amin, Douglas Kanja, Kanja, Gerald Anderson, Khalusha “, Amin, dismembering, ”, Josphine Mulongo, Leah Sankaire Sopiato, women’s Organizations: CNN, Authorities, Anadolu, Getty, Kenyan Police, Kenyan Locations: Kenya, Soweto, Nairobi, Kware, Nairobi’s, Njenga

☆ Warren Buffett once told Barack Obama the wealthy should pay more tax — and that his wealth is partly down to luck
▼ + stars: | 2024-07-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett met with Barack Obama years before he became President. The billionaire said the rich should pay more tax, and flagged wealth inequality as a big problem. Buffett attributed a chunk of his success to luck and defended inheritance taxes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett called for higher taxes on the rich, bemoaned wealth inequality, and credited a big part of his success to luck in a conversation with Barack Obama long before he became president.

Persons: Warren Buffett, Barack Obama, Buffett, —, Berkshire Hathaway Organizations: Service, Berkshire, Business Locations: Illinois

☆ Bronze Age-style ship sails the Persian Gulf 4,000 years after it was designed
▼ + stars: | 2024-07-12 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

CNN —Writings on an ancient clay tablet have allowed experts to reconstruct a Bronze Age ship made of reeds and sail it on a maiden voyage off the coast of Abu Dhabi, United Arab Emirates. It is the world’s largest reconstruction of a Bronze Age Magan boat, according to the team. The research project’s goals were to uncover ancient craftsmanship techniques, determine the connections between Bronze Age societies and better understand the role Abu Dhabi once played in Bronze Age trade. After passing five days of trials, the ship sailed toward Saadiyat Island off the coast of Abu Dhabi and the open sea on March 2 and 3. “Seeing the Magan Boat sail on the water for the first time actually took my breath away and brought tears to my eyes.”

Persons: Magan, “, ”, Eric Staples, Abu Dhabi, Emily Harris, Umm, Robert B, Jackson, ” Jackson, Peter Magee, Marwan Abdullah Al, Marzouqi, ” Marzouqi, Abdallah Alremaithi, Ayesha Almansoori, Tayla Clelland, Mohamed Khalifa Al Mubarak, ” Clelland Organizations: CNN, United, United Arab Emirates, Zayed University, Zayed National Museum, Zayed National Museum , New York University, British Museum, ., Department of Culture Locations: Abu Dhabi, United Arab, Persian, UAE, Oman, Mesopotamia, Iraq, Pakistan, India, Zayed National Museum ,, Zayed National Museum , New York University Abu Dhabi, Umm, South Asia, Girsu, what’s, Saadiyat, Tourism, “

☆ A basic income program helped struggling kids enjoy huge success — and even become Olympians
▼ + stars: | 2024-07-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

A basic income program in rural Romania has helped children succeed — and even become Olympians. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementA basic income program in rural Romania has helped disadvantaged children build successful careers, overcome family problems and emotional challenges, and even become Olympic athletes. The initiative is an offshoot of universal basic income — the idea of giving cash to everyone in a society regardless of their wealth and with no strings attached, to provide a safety net and combat poverty.

Persons: — Organizations: Service, Olympic, Business Locations: Romania

☆ Billionaire Ray Dalio thinks universal basic income is no magic wand — and may even do more harm than good
▼ + stars: | 2024-07-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewUniversal basic income is winning support from some as a powerful tool to combat poverty, but Ray Dalio thinks it could be harmful and pull cash away from better social programs. Dalio is the billionaire founder of Bridgewater Associates, the world's largest hedge fund, and the official mentor to its three co-chief investors. Who are you giving the $1,000 to, and what will they do with that $1,000?" In a follow-up post, Dalio emphasized that he sees the wealth-and-opportunity gap as the "greatest threat" to the US.

Persons: —, Ray Dalio, Dalio, Lex, who'd Organizations: Service, Bridgewater Associates, Business

☆ AI stocks are in a costly bubble — and Nvidia may wither like a dot-com darling, markets guru says
▼ + stars: | 2024-07-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

A veteran analyst says AI is unproven, and stocks such as Nvidia are in a bubble and could wither. Ferguson sees shades of the dot-com bubble, warning Nvidia might lose its edge like Intel and Cisco did. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementArtificial intelligence is still just a pricey experiment, AI stocks are in a dangerous bubble, and Nvidia might wither like dot-com darlings Intel and Cisco, according to a markets guru. Ferguson recommended investors diversify their portfolios away from large-cap US growth stocks to limit their exposure if the tech bubble bursts.

Persons: MacroStrategy's James Ferguson, Ferguson, —, James Ferguson, Merryn, I'm, It's Organizations: Nvidia, Intel, Cisco, Service, MacroStrategy, Tech

☆ Esports World Cup: The new tournament in Saudi Arabia causing a big splash and division in the industry
▼ + stars: | 2024-07-06 | by ( Ben Church | ) edition.cnn.com time to read: +12 min

The Esports World Cup (EWC) – which began on July 3 – has brought together professional gamers, publishers and fans from across the world for an eight-week competitive gaming bonanza. To bring this on the similar scale as the largest traditional sports events and something that brings together the whole industry,” Reichert said. Discovery – CNN’s parent company – and the Esports World Cup Foundation agreed to a new partnership which includes Eurosport, CNN and other WBD platforms. “From my experience, there are a lot of people in [Saudi Arabia] that love their games, right to the top. “It’s probably unprecedented how quickly Saudi Arabia is moving ahead in its progression.

Persons: –, Ralf Reichert, ” Reichert, “, Gen.G, Mohammed Saad, Reichert, ”, Sam Mathews, It’s, it’s, Prince Mohammed bin Salman, sportswashing, SGG, Rod Breslau, “ It’s, ” Dana Ahmed, Manahel, Otaibi, Nick McGeehan, FairSquare, Mohamed bin Salman, Liquid’s, Steve Arhancet, Mathews Organizations: CNN, CNN Sport, Riot, New York Times, Adidas, Warner Bros, Eurosport, Anadolu, Getty, EWC, EWC Foundation, Saudi, MBS, Fox News, Investment Fund, Gaming, Amnesty, Fnatic, “ Locations: Saudi, Saudi Arabia, esports, “ Saudi Arabia, Breslau

☆ Warren Buffett paid just $31,500 for his home of nearly 70 years. Read his 8 best quotes about buying a house.
▼ + stars: | 2024-07-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett has lived in the same family home in Omaha for almost 70 years. The billionaire paid just $31,500 for the house, which is now worth about $1.4 million. Here are Buffett's best quotes about buying a home, which he says can be both a great and terrible idea. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett, one of the world's wealthiest people worth almost $130 billion, has lived in the same unassuming house in Omaha for nearly 70 years.

Persons: Warren Buffett, —, Buffett Organizations: Service, Business Locations: Omaha

☆ Gaza: The Labour party’s position on the conflict appears to have cost it votes in the UK election
▼ + stars: | 2024-07-05 | by ( Christian Edwards | ) edition.cnn.com time to read: +5 min

Corbyn won 49.2% of the vote, while the Labour candidate came in second with 34.4%. Many of these seats where Labour appears to have lost votes over its position on Gaza have sizable Muslim populations. She said, after Streeting abstained from a vote on a Gaza ceasefire, she decided to enter politics and abdicate from Labour. “As a Palestinian, that place is no longer for me… The Labour party does not represent us,” she told CNN. Meanwhile Jess Phillips, also a prominent Labour figure, won her Birmingham Yardley seat by just 693 votes.

Persons: Keir Starmer, Jonathan Ashworth, Shockat Adam, ” Adam, Jeremy Corbyn, Ashworth, Corbyn, ”, Kate Hollern –, –, Adnan Hussain, Iqbal Mohamed, Heather Iqbal, Birmingham Perry Barr, Ayoub Khan, Khalid Mahmood, Faiza Shaheen –, Iain Duncan Smith, “, ” Shaheen, Starmer, Israel’s, Starmer –, Israel “, Wes Streeting, Leanne Mohamad, Mohamad, Streeting, Jess Phillips, Jody McIntyre Organizations: London CNN, Gaza, Labour, Leicester South, Islington, Blackburn, Dewsbury, Batley, Conservative, Hamas, LBC, Scottish National Party, CNN, Birmingham, Workers Party of Britain Locations: Gaza, English Midlands, Birmingham, Chingford, Woodford, London, Israel, Leicester, Ilford, Blackburn, Starmer’s, Ilford North, Palestine, Birmingham Yardley

☆ This soccer star who came from nothing has been funding universal basic income in his hometown for years
▼ + stars: | 2024-07-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewYouTube star Jimmy "MrBeast" Donaldson recently donated $200,000 toward a universal basic income program in the Ugandan village of Karamoja. A top soccer player who grew up desperately poor has funded a similar initiative in his African hometown for years. This story is available exclusively to Business Insider subscribers. In addition, I give 70 euros per month to all people in a very poor region of Senegal which contributes to their family economy. AdvertisementAl Nassr didn't immediately respond to a request for comment from Business Insider.

Persons: —, Jimmy, MrBeast, Donaldson, Sadio Mané, Al Nassr, Mané, Sadio, Visionhaus, Elon Musk, Sam Altman, Ferraris, He's, Al Nassr didn't Organizations: Service, Liverpool, Bayern Munich, Business, Saudi, Africa, Afrique, barefooted Locations: Ugandan, Karamoja, Saudi, Senegal, Bambali

☆ Universal basic income has gone from utopian vision to economic reality. Here's what you need to know about UBI.
▼ + stars: | 2024-07-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

Read previewUniversal basic income has made giant strides from its origins as a utopian vision toward becoming economic reality. Basic income trials have been conducted in countries as varied as Kenya, Finland, India, and Canada. Proponents of UBI say it reduces poverty, strengthens the social safety net, promotes health and happiness, and combats the stigma around welfare. Basic income recipients in a Finnish trial reported higher life satisfaction, improved health, and lower levels of depression and loneliness. An open questionUniversal basic income remains a largely theoretical idea that could have significant — and unpredictable — impacts on wealth inequality, human welfare, labor markets, and entire economies.

Persons: —, Tesla's Elon Musk, Robert Reich, Juan Luis Vives, they'd, Thomas Paine, Martin Luther King Jr, Milton Friedman, Sen, Bernie Sanders of, technocrat Andrew Yang, Sam Altman, Bernie Sanders, Kevin Dietsch, Dave Ramsey, Karl Marx playbook, that's, Jack Kellam, MrBeast, Jeff Cheatham, Douglas MacKay, Chapel Hill, Karl Widerquist, Kellam, stigmas Organizations: Service, Labor, Business, Autonomy, UNC, Chapel, Georgetown University, Qatar Locations: Kenya, Finland, India, Canada, Spanish, Bernie Sanders of Vermont, Uganda

☆ Steve Ballmer is now worth $157 billion — more than his former Microsoft boss Bill Gates
▼ + stars: | 2024-07-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Steve Ballmer, who succeeded Gates as Microsoft CEO, is worth about $157 billion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Gates, Microsoft's legendary cofounder and perhaps the world's best-known philanthropist, is in seventh place and worth $156.7 billion. He was $17 billion richer than Ballmer a year ago. This story is available exclusively to Business Insider subscribers.

Persons: Bill Gates, Steve Ballmer, Gates, —, Steve Ballmer's Organizations: Microsoft, Service, Bloomberg, Business

☆ Universal basic income is 'straight out of the Karl Marx playbook,' financial guru Dave Ramsey says
▼ + stars: | 2024-07-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Universal basic income is in vogue with many trials underway and people like Elon Musk touting it. Personal finance guru Dave Ramsey criticized UBI as "straight out of the Karl Marx playbook." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUniversal basic income is having a moment with trials launching across the globe, promising early test results, and the likes of Elon Musk singing its praises. "This is straight out of the Karl Marx playbook — this is not out of the Adam Smith playbook," Dave Ramsey said about UBI on "The Ramsey Show" last summer.

Persons: Elon, Dave Ramsey, UBI, Karl Marx playbook, —, Elon Musk, Adam Smith playbook Organizations: Service, Business

☆ Apple finally gets some good news in China as iPhone shipments surge
▼ + stars: | 2024-07-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Apple's iPhone shipments in China surged 40% in May, according to Bloomberg calculations. Shipments soared more than 50% in April, suggesting Apple is regaining ground in the key market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple appears to be reigniting iPhone demand in China, but its profit margins could pay the price. iPhone shipments in China soared about 40% in May, dwarfing a 13% rise in overall smartphone shipments.

Persons: —, dwarfing Organizations: Bloomberg, Apple, Service, China Academy of Information, Communications Technology, Business Locations: China

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