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The two leaders began their meeting at the Diaoyutai State Guesthouse Monday morning, Chinese state media reported. China is a “key power in creating the conditions for peace” in the war, Orban wrote in an X post Monday. “This is why I came to meet with President Xi in Beijing, just two months after his official visit to Budapest,” he added. Orban and Xi last met in May, when the Chinese leader was welcomed with fanfare for a state visit to Hungary. “Only unity and determination will pave the path to a comprehensive, just and lasting peace in Ukraine,” she added.
Persons: Viktor Orban, Xi Jinping, ” Orban, Xi, Orban, , Orban’s, Joe Biden, Vladimir Putin, , Ursula von der Leyen, ” Putin, Putin, Jens Stoltenberg, Volodymyr Zelensky Organizations: Hong Kong CNN, West, NATO, Shanghai Cooperation Organization, of, European Union, Putin, , Ukrainian Locations: Hong Kong, Hungarian, Beijing, Moscow, Kyiv, Russia, Ukraine, Diaoyutai, Washington, Hungary, China, Russian, Kazakhstan, Europe, Budapest,
Prime Minister Viktor Orban of Hungary met with China’s leader, Xi Jinping in Beijing on Monday, courting another authoritarian partner after talks with President Vladimir V. Putin of Russia in Moscow last week. In announcing Mr. Orban’s visit to Beijing, China’s official Xinhua news agency said only that Mr. Xi would hold an “in-depth discussion with him on issues of mutual interest.” The leaders last met two months ago, when Mr. Xi visited Budapest as part of a drive to restore Chinese influence in Europe. Chinese state television said that Mr. Xi and Mr. Orban were holding talks in the Diaooyutai State Guesthouse, but gave no other details. This meeting will give Mr. Xi and Mr. Orban, an outlier in the European Union on support for Ukraine and other issues, a chance to urge the bloc to distance itself from Washington. Hungary began its six-month rotating presidency of the Council of the European Union this month, giving Mr. Orban a higher profile, though not much more influence, in wider European affairs.
Persons: Viktor Orban, Xi, Vladimir V, Putin, Mr, Orban’s, Orban Organizations: Xinhua, European Union, of Locations: Hungary, Beijing, Russia, Moscow, Budapest, Europe, Diaooyutai State, Ukraine, Washington, European Union
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJune jobs report a good 'stabilizing' report, says CEA Chair Jared BernsteinJared Bernstein, President Biden's Council of Economic Advisers chair, joins 'Money Movers' to discuss how Bernstein would assess Friday's jobs report, how fiscal spending is playing a role in added government jobs, and more.
Persons: Jared Bernstein Jared Bernstein, Bernstein Organizations: Biden's, Economic Advisers
The debate between Donald J. Trump and President Biden had analysts in Asia fretting. During Thursday night’s debate, President Biden told former President Donald J. Trump that the United States is the “envy of the world.”After watching their performance, many of America’s friends might beg to differ. In Europe and Asia, the back-and-forth between the blustering Mr. Trump and the faltering Mr. Biden set analysts fretting — and not just about who might win the election in November. Image Mr. Biden leaving the debate stage. Kasit Piromya, Thailand’s foreign minister from 2008 to 2011 and a former ambassador to the United States, lamented the state of American politics.
Persons: Donald J, Trump, Biden, , fretting —, ” Simon Canning, ” Sergey Radchenko, Vladimir Putin, Xi Jinping, , Putin, “ I’ve, Mr, Kenny Holston, François Heisbourg, Trump’s, “ I’m, Heisbourg, Radoslaw Sikorski, Marcus Aurelius, Commodus, Sikorski, Joe Biden’s, Donald Trump, Joe Biden, Daniela Schwarzer, Bogdan Butkevych, “ Trump, Chan Heng Chee, Ms, Chan, Lee Byong, ’ ”, Koichi Nakano, Haiyun Jiang, Narendra Modi, Tara Kartha, , Shen Dingli, don’t, Kasit, Damien Cave, Lee Wee, Choe Sang, Vivian Wang, Camille Elemia, Mujib Mashal, Ségolène Le Stradic, Marc Santora Organizations: Johns Hopkins School, International Studies, , Mr, Russia, New York Times, Trump, Bertelsmann Foundation, Washington , D.C, Credit, Kremlin, Kyiv Independent, Biden unnerves, Institute for Far Eastern, Kyungnam University, Sophia University, The New York Times, Washington, National Security Council of, , Weibo Locations: Asia, Australian, United States, Europe, Australia, Washington, Russia, China, North Korea, Ukraine, Lebanon, Iran, Israel, Japan, South Korea, Gaza, Jerusalem, France, Washington ,, American, Ukrainian, North, Seoul, , United, Tokyo, The New York Times India, National Security Council of India, New Delhi, Beijing, India, Communist, Shanghai, U.S, Southeast Asia
fewer-americans-buying-life-insurance-correction
  + stars: | 2024-06-25 | by ( ) www.cnbc.com   time to read: 1 min
Data from the American Council of Life Insurers showed that life insurance coverage had fallen from 69% to 59% between 1998 and 2019. A previous version of this article misstated the name of the group.
Organizations: American Council of
Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.
Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul
But he added that the US does need more Chinese students, too — just not in STEM. AdvertisementHe also cited security concerns about letting Chinese students access sensitive technology. But even now, Chinese students say that they have been facing extra scrutiny while entering the US. The Washington Post, citing online discussion forums, reported in March that Chinese students were questioned for hours at US border controls, or had their visas canceled without valid reasons. In April, the Senate passed a bill that, if signed into law by President Joe Biden, will force Chinese tech company Bytedance to sell video site TikTok.
Persons: , Kurt Campbell, Campbell, There's, Trump, Donald Trump, Joe Biden, Campbell didn't Organizations: Service, of Foreign Relations, Business, Trump, China Initiative, Department of Justice, Washington, Institute of International Education, American, Apple, Counterpoint Research, Huawei Locations: United States, China
Still, conversations about a possible drift toward Donald Trump, though, are evident in the several Jewish elected Democratic leaders who grimaced and ducked when asked by CNN to discuss their sense of Jewish support for Biden. Talking with Jewish voters in Michigan, “I’ve had a couple of people say point blank, ‘How could any Jew vote for a Democrat?’” said Troy Zukowski, the West Michigan chair of the Michigan Jewish Democrats. The president does have some key Jewish voices of support in important places. Trump’s support among Jewish voters in 2020, at 30% according to Associated Press exit polls, was the highest for a Republican presidential candidate in decades. The expected central theme of that effort, according to one of the people involved, will be: As a Jewish American, do you feel safer than you did four years ago?
Persons: Joe Biden’s, , Biden, Joe ”, Kamala Harris, Doug Emhoff, Donald Trump, grimaced, megadonor Haim Saban, “ I’ve, ’ ”, Troy Zukowski, “ I’m, I’m, Alejandro Mayorkas, Neera Tanden, Jon, John Kirby, Kirby, Joe Biden, , Josh Shapiro, , Shapiro, Pharaoh, Hitler, Kim Jong, Benjamin Netanyahu’s, Emhoff, Ben Stiller, chitchatting, Alex Edelman’s, Israel, sickening ”, Trump, Morgan Ortagus, Haile Sofer, Jake Sullivan, Netanyahu, Lee Zeldin, ” Zeldin, Rashida, Harris, Biden “, ” Emhoff, who’s, antisemites, Andrew Weinstein, it’s, “ He’s, I’ve, Joe Organizations: Washington CNN, CNN, Jewish, Democratic, White, Biden, Democrat, Michigan Jewish Democrats, Trump, Homeland, National Security, Justice, NSC, Pennsylvania, American, Israel, Nova Music, Wing, House, Jewish voters Trump, State Department, Jewish Democratic Council of America, Associated Press, Republican, United Arab Emirates, Capitol, GOP, Democratic Party, Biden ’, Republican Jewish Coalition, Naval Observatory Locations: Israel, Pennsylvania , Michigan, Georgia, Wisconsin, Arizona, Michigan, West Michigan, Palestine, president’s State, Jerusalem, Gaza, Lower, Manhattan, Brooklyn, America, Charlottesville , Virginia, Germany, Washington, Bahrain, New York, Detroit, American, Charlottesville, , Florida
The birth of the American mall ushered in an era of “windowless” shopping that’s largely still here. But the sneakiest reason why malls limit windows could be to make shoppers lose track of time. Windowless shopping creates an environment of consumption without distractions,” Flickinger said. The Southdale mall was functional and drab to look at and that is the blueprint that all traditional enclosed malls have continued to follow. Some of these adaptive uses of traditional malls might be creating a practical need for windows after all, she said.
Persons: mallgoers, Burt Flickinger, Bill Peters, ” Flickinger, , Victor Gruen, Gruen, Larry Salzman, Stephanie Cegielski, , Cegielski, ” Alexandra Lange, Lange, Thomas McMillan, ” Lange, Kristin Mueller, Kena Betancur Organizations: New, New York CNN, Strategic Resource Group, CNN, Shoppers, Denver, Getty, Denver Post, , Southdale, Minneapolis –, Gruen Associates, International Council of Shopping Centers, , Sears, Roebuck, of Retailing Studies, Texas, Mays Business School, Energy, Customers, North Locations: New York, Northglenn, Northglenn , Colorado, Minneapolis, Austria, Los Angeles, Edina , Minneapolis, , Framingham , Massachusetts, United States, America, American, East Rutherford , New Jersey, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEA Chair Jared Bernstein: We're taking aggressive action to lower costs for AmericansJared Bernstein, President Biden’s Council of Economic Advisers chair, joins 'Squawk Box' to discuss the state of the economy, what President Biden is doing to lower the cost for living for Americans, government spending, impact on the federal budget deficit, and more.
Persons: Jared Bernstein, Biden Organizations: Biden’s, Economic Advisers
Netherland's Prime Minister Mark Rutte arrives to attend the European Political Community summit at the Palacio de Congreso in Granada, southern Spain on October 5, 2023. Romanian President Klaus Iohannis on Thursday rescinded his bid for the leadership of the NATO military alliance and threw his support behind the favorite contender for the post, Dutch Prime Minister Mark Rutte. The move effectively clears the path for outgoing Dutch PM Rutte to assume the top position of the 32-member U.S.-led NATO military coalition, when incumbent Secretary-General Jens Stoltenberg finishes his mandate on Oct. 1 after 10 years in the job. Iohannis, 65, is ending his second five-year round at the helm of Romania, which will hold national elections in September. Two weeks ago, Budapest conceded not to block the NATO alliance's deepening military support for Ukraine, in exchange for nonparticipation.
Persons: Mark Rutte, Klaus Iohannis, Iohannis, Rutte, Jens Stoltenberg Organizations: Netherland's, Palacio, Congreso, NATO, Dutch, Supreme, of National Defense, CNBC, U.S, Ukraine Locations: Granada, Spain, Romanian, Romania's, Ukraine, Iohannis, Romania, Rutte, Hungary, Russia, Budapest
The European Union has agreed to a new raft of economic sanctions against Russian individuals and companies, the Belgian government said on Thursday. Notably, they include measures aimed at squeezing Russia’s profits from the sale of liquefied natural gas to E.U. countries stopped importing natural gas that arrived by pipeline from Russia immediately after the full-scale invasion of Ukraine in February 2022. But the bloc had refrained from initiating any formal sanctions against Russian gas imports, leading many E.U. The latest action includes measures targeting imports of Russian L.N.G.
Organizations: European Union, of Locations: Belgian, Russia, Ukraine, Russian, E.U, of Europe
North Korea launched its first spy satellite, the Malligyong-1, in November. The arrangement may also enable North Korea to gain real-world intel on the functioning of its weaponry and help it ramp up exports more broadly. Such satellites can help North Korea improve its ground-based military capabilities, for example enabling it to more accurately target opponents’ forces with its own missiles. Both countries in recent years have blocked movement in the council related to North Korea as they grew skeptical of US-backed sanctions. He pointed to his experiences during the former US President Barack Obama administration working on nonproliferation efforts related to North Korea and Iran.
Persons: Vladimir Putin, Putin ramped, Kim Jong, Putin, , Edward Howell, Xi Jinping, Kim, ” Putin, “ Kim Jong, he’ll, Ankit, Sofiia Gatilova, Putin –, “ Putin, , John Erath, Erath, Xi, it’s, Michael McFaul, Barack Obama, ” McFaul, … we’re Organizations: Hong Kong CNN, University of Oxford, KCNA, intel, South, United Nations, North, Carnegie Endowment, International Peace, Kremlin, UN Security Council, Center for Arms Control, Observers, UN, National Security, Center for Strategic, International Studies Locations: Hong Kong, North Korea, Ukraine, Russia, Pyongyang, Moscow, Eurasia, United Kingdom, United States, Italy, South Korea, Japan, Seoul, Washington, North Korean, Korea, Russian, Kharkiv, Kyiv, China, Iran
CNN —“Make Europe Great Again” is Hungary’s official motto for its upcoming turn at the rotating presidency of the Council of the European Union. The country announced the motto and a new logo in a video posted on X on Tuesday. The motto is a near-exact copy of the slogan adopted by former US President Donald Trump, who has previously heaped praise on Hungarian Prime Minister Viktor Orbán. The cube features the Hungarian flag on one face and the EU flag on another. In May, Orbán held the third annual American-style CPAC (Conservative Political Action Conference) in Hungary.
Persons: Donald Trump, Viktor Orbán, Trump, , It’s, Orbán, Trump’s, MAGA, Viktor Orban, Marton Monus, Reuters Trump, Organizations: CNN, of, European Union, Mar, White House, EU, Reuters Locations: Hungarian, Lago, Florida, Hungary, Budapest, Europe
The Group of Seven has agreed in principal to provide Ukraine with a $50 billion loan. Profits from Russian frozen funds are to be used as collateral to back the loan. AdvertisementThe Group of Seven has finally moved the dial on a contentious idea to provide funding to Ukraine by using Russian funds. AdvertisementRoughly $322 billion in funds were frozen after Moscow invaded Ukraine and have sat untouched for over two years. That could mean Moscow taps Western funds in the country and punishes any Western companies that have remained in Russia.
Persons: , Putin, we're, Joe Biden, Biden, Michael Froman, Donald Trump, Vladimir Putin, Charles Lichfield, Chatham House's Timothy Ash Organizations: Seven, Service, Kyiv, European Commission, of Foreign, CNBC, Moscow, The, CEPA, Financial Times Locations: Ukraine, headbutting, Moscow, Europe, Kyiv, Russia, France, Germany
Courtesy Abby ChowningThe tariffs Biden left in place – which are paid by US importers and not China – hit roughly $300 billion of goods. After Trump’s tariffs hit, some US companies sought new manufacturers in other countries. The Covid-19 pandemic upended the global economy roughly two years after Trump’s trade war began. Several studies show that Trump’s tariffs only marginally contributed to the rise in US inflation experienced after the pandemic and the following supply chain crisis. Trump’s tariffs were meant to get China to address those issues.
Persons: Donald Trump, Trump, Tiffany Zarfas Williams, , Zarfas Williams, Joe Biden, , “ Trump, ” Biden, , Biden, , Abby, China –, Rick Muskat, Jake Muskat, Alena Margolis, Muskat, ” Muskat, Phil Page, Page, Bryan Finch, ” Page, Morgan, Nate Herman, Matt Priest, Priest, Steve Madden, ” Jared Bernstein, we’ve, ” Bernstein, Justin Sullivan, ” Herman, Xi Jinping, Biden “ Organizations: Washington CNN —, China, Trump, Biden, Deer Stags, JCPenney, America, Cap America, American Apparel & Footwear Association, Bureau of Labor Statistics, Footwear Distributors, Retailers of America, Adidas, Columbia, Nike, White House Council, Economic Advisers, China Business, Trade, National Council of Textile Organizations, Port Locations: Lubbock, Texas, China, Ukraine, Missouri, Vietnam, Bangladesh, Port of Oakland, Oakland , California
Stockholm Reuters —Sweden and Iran carried out a prisoner exchange on Saturday, officials said, with Sweden freeing a former Iranian official convicted for his role in a mass execution in the 1980s while Iran released two Swedes being held there. “Iran used them both as pawns in a cynical negotiations game with the purpose of getting the Iranian citizen Hamid Noury released from prison in Sweden. Noury was freed in a prisoner swap with Iran, Sweden said on Saturday. Swedish-Iranian dual national Saeed Azizi was arrested in Iran in November 2023 on what Sweden called “wrongful grounds.”Another Swedish-Iranian dual national, Ahmadreza Djalali, arrested in 2016, remains in an Iranian jail. An emergency medicine doctor, Djalali was arrested in 2016 while on an academic visit to Iran.
Persons: Hamid Noury, Noury, Ulf Kristersson, Johan Floderus, Saeed Azizi, ” Kristersson, Kristersson, Anders Humlebo, Ahmadreza Djalali, Djalali Organizations: Stockholm Reuters —, Swedish, TT, Agency, AFP, Getty, National Council of Resistance, Islamic, European Union Locations: Stockholm, Stockholm Reuters — Sweden, Iran, Sweden, Oman, Tehran, , “ Iran, Karaj, Islamic Republic, Floderus, Israel, Iranian, Swedish
The great tax debate: How will GOP fund tax cuts?
  + stars: | 2024-06-14 | by ( Robert Frank | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe great tax debate: How will GOP fund tax cuts? CNBC's Robert Frank and Marc Short, former chief of staff to Vice President Mike Pence and former Trump White House Director of Legislative Affairs, and Ernie Tedeshi, director of economics at The Budget Lab at Yale University and former chief economist at the White House Council of Economic Advisors, join 'Squawk Box' to discuss the competing tax plans between President Biden and former President Trump, the new tax ideas floated by Trump in recent days, what the corporate tax rate should be, and more.
Persons: Robert Frank, Marc Short, Mike Pence, Ernie Tedeshi, Biden, Trump Organizations: Trump White House, Legislative Affairs, Yale University, White House Council of Economic Advisors, Trump
The loan is expected to be delivered by the end of 2024, which would ensure the money would get to Ukraine before a potential change in US presidents. “This loan will mostly be provided by the United States and will be supplemented by money from Europe,” an Élysée source told journalists at a briefing. “Countries are still discussing how to partition the cost if the profits from Russian assets are not sufficient to cover the need,” the French source added. G7 countries began brainstorming ways to identify longer-term sources of funding for Ukraine in late 2023, as lawmakers delayed in greenlighting the White House’s funding request. The World Bank estimates that Ukraine would need more than $500 billion to rebuild, a figure that climbs each day the war continues.
Persons: Joe Biden, Donald Trump, Trump, Vladimir Putin, Jake Sullivan, Biden, ” Sullivan, , , Tim Adams, Marshall, Xiaofei Xu Organizations: Washington CNN —, US, Ukraine, Ukraine –, Atlantic, Treasury, State, National Security, Institute of International Finance, United, Marshall Plan, European, Bank Locations: Ukraine, Western, Europe, Russia, Brindisi, Italy, United States
CNN —A United Nations inquiry into the first few months of the war in Gaza has found both Israel and Hamas committed war crimes and grave violations of international law, in the body’s first in-depth investigation into the October 7 attacks and the ensuing conflict. Rockets are launched by Hamas from the Gaza Strip towards Israel on October 7, 2023. Hatem Moussa/APIn the first 2.5 months of the conflict, the commission found, Israel committed war crimes as well as crimes against humanity – the latter defined as a widespread, systemic attack directed at a civilian population. The International Criminal Court announced last month it was seeking arrest warrants for several top Hamas and Israeli leaders, including Israeli Prime Minister Benjamin Netanyahu on charges of war crimes and crimes against humanity. “It is imperative that all those who have committed crimes be held accountable,” said commission chair Navi Pillay.
Persons: Hatem Moussa, Israel, , Israel’s, maiming, Benjamin Netanyahu, , Netanyahu, West Bank –, , Said Khatib, Mahmud Hams, Nir, Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Yoav Gallant, Gilad Erdan, Erdan, Anwar Organizations: CNN, United, The United Nations Commission, Rockets, AP, Criminal, Palestinian, West Bank, Getty, Al, Israel Defense Forces, UN, Gaza, National, Finance, UN Human Rights, Palestinian Authority, Hamas, Human Rights, Israel, UN Security Council, Assembly, United Nations Relief, Works Agency, Anwar Amro, UNRWA, Navi Pillay Locations: United Nations, Gaza, Israel, Gaza City, Rafah, AFP, Aqsa, Israel’s, Palestinian, United States, Lebanese, Beirut, East Jerusalem
On Thursday, it expects to welcome Taylor Swift fans heading to Anfield for the first of the superstar’s three “Eras Tour” concerts in Liverpool. Banners outside St George's Hall in Liverpool saying "Liverpool loves Taylor," seen in May 2024. Taylor Swift performs at the Scottish Gas Murrayfield Stadium on June 7, 2024, in Edinburgh, UK. A fan poses at an art installation representing Taylor Swift's "Lover" album era, in Liverpool in June 2024. People walk past an art installation representing Taylor Swift's album "The Tortured Poets Department" in Liverpool in June 2024.
Persons: Sandon, Taylor Swift, Ceri Smith, It’s, , Swift, Smith, Liverpool, Taylor, Phil Noble, Harry Doyle, Gareth Cattermole, Natalia Lechmanova, , ” Taylor, deconstruct Taylor, Taylor Swift's, Peter Byrne, , Doyle, “ She’s, Frankie Goes, Kevin McManus, they’ve, ” McManus Organizations: London CNN, Anfield, Liverpool Football Club, CNN, Reuters, Amion Consulting, Liverpool City Council, Liverpool …, Liverpool ONE, Mastercard, Institute, Fans, Scottish Gas Murrayfield, , Wembley, Liverpool, University of Liverpool, Cavern, National Museums Liverpool, Beatles, UNESCO, Music, Department Locations: Anfield, Liverpool, Sandon, George's, United Kingdom, English, United States, Edinburgh, London, Taylor
"It's a time of meaningful evolution," said The Vitamin Shoppe CEO Lee Wright in the company's annual report. The weight loss boom is pushing consumers to spend more on protein supplement products. The Vitamin Shoppe reported a 10% sales bump in ready-to-drink protein beverages in 2023 versus the prior year. Wright expects the customer base for weight loss products to triple as more Americans try to lose weight. The Vitamin Shoppe also launched its own telehealth service in early May, "Whole Health Rx," which includes access to branded and compounded GLP-1 weight loss drugs.
Persons: Wright, CNBC's Squawk, Lee Wright, nutritionists
Read previewI met Sarah online 22 years ago. Joining Sarah's famous family was surprisingly easy for meSince we met, Sarah has been grounded in her identity, never relying on her sister's celebrity. AdvertisementAfter about two years of dating, I met Olivia. We hosted lunch at one of the cafés in our little village square, and suddenly, everyone was talking. When Olivia died in 2022, our council office organized a special tribute, showing "Grease" on an outdoor screen in the village square.
Persons: , Sarah, Olivia Newton, Sarah's, Olivia, we've, Olivia Olivia, It's Organizations: Service, Business Locations: Spain, Sydney
President of the European Central Bank (ECB) Christine Lagarde arrives to address a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on April 11, 2024. FRANKFURT — The European Central Bank this week is set to cut borrowing costs for the euro area for the first time since September 2019. It will mark the official end to the record fast-hiking cycle that begun after the Covid-19 pandemic as inflation soared higher. But investors' attention looks like it has already moved on to what will happen after this June cut by the Frankfurt institution. "Judging by the commentary from officials, there is no questioning of the wisdom of cutting rates on 6 June," said Mark Wall, ECB watcher with Deutsche Bank.
Persons: Christine Lagarde, Mark Wall Organizations: European Central Bank, ECB, Deutsche Bank, ECB — Locations: Frankfurt, Germany, FRANKFURT
But you can lose money by maxing out your 401(k) too early in the year — unless the plan has a special feature. Most 401(k) plans offer an employer match, which uses a formula to deposit extra money into the account, based on your deferrals. Typically, you must contribute at least a certain percentage of income each paycheck to receive the year's full employer match. However, some 401(k) plans offer a "true-up," or additional deposit of the remaining employer match, for employees who max out contributions before the end of the year. It's typically most common in bigger plans, experts say.
Persons: maxing, Tommy Lucas, Moisand Fitzgerald Tamayo Organizations: Finance, Investor, America's Locations: Orlando , Florida
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