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☆ Baby boomers have a ton of their wealth tied up in stocks and housing. Here's why that's a risk to the economy.
▼ + stars: | 2024-09-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Khurana thinks what has made boomers the wealthiest generation — stocks and housing — also makes them a risk to economic stability. AdvertisementSuch a scenario is an '"underappreciated risk," he said, given how much boomers' spending habits have fueled economic growth in recent years. The demographic spends around $548 billion a year, more than any other generation, according to a report from marketing research firm Epsilon. AdvertisementBroken down by each generation's holdings of property and stocks, boomers accounted for 42% of all real estate ownership and 54% of all corporate equity and mutual fund ownership. That's not to say boomers will cause the next recession, but the risk during a recession is dialed up under the current paradigm, Khurana said.

Persons: —, America's, Brij, Khurana, boomers, they've, John Hussman, That's Organizations: Service, Wellington Management, Business, McKinsey & Company, New York Fed, Epsilon, New, Boomers, Federal Reserve, Governors Boomers, Governors Locations: New, New York, Florida and Texas

☆ What Warren Buffett's recent moves say – and don’t say – about today’s market
▼ + stars: | 2024-09-21 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

And so it is with Warren Buffett's Berkshire Hathaway slashing its holdings in Apple and Bank of America in recent months. Buffett himself has indicated in recent years that he doesn't see an abundance of compelling value on offer in the public markets. But this in itself isn't much of a clue about future market prospects or the macroeconomic moment. Borgato says he believes "Buffett wants to leave a Berkshire behind that requires [fewer] future cash allocation decisions, not more." I'm not a buyer of the "cash on the sidelines" case for expecting money market assets to drain into stocks.

Persons: –, Warren Buffett's Berkshire Hathaway, Buffett, Ed Borgato, it's, pare Berkshire's, Greg Abel, Berkshire Hathaway, BRK.B QUAL, Ajit Jain, Trump, Borgato, Jared Woodard Organizations: Apple, Bank of America, Bank of, Buffett, Berkshire, Berkshire Hathaway, Washington Locations: Berkshire's, Berkshire, Apple, –

☆ Maine Democrats have likely run out of time to change Electoral College laws if Nebraska GOP acts
▼ + stars: | 2024-09-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +6 min

LINCOLNVILLE, Maine — As Republicans in Nebraska consider changing state law to give Donald Trump an extra Electoral College vote this fall, their Democratic counterparts in Maine have little recourse to even the score. In 2020, Trump won one electoral vote from Maine’s rural 2nd Congressional District and is heavily favored to do so again, while Joe Biden won one from Nebraska’s Omaha-based 2nd Congressional District. And Maine GOP leaders have already signaled they have no interest in helping Democrats do away with their unusual formula for awarding electoral votes. “Maine has the gold standard of presidential election processes in the United States,” state House Minority Leader Billy Bob Faulkingham told the Bangor Daily News on Thursday. But unlike the previous times, there no longer appears to be a good way for Maine — and therefore national Democrats — to counter a change in Nebraska.

Persons: Donald Trump, Trump, Joe Biden, Sen, Lindsey Graham, Billy Bob Faulkingham, “, ”, Kamala Harris, Harris, Biden, Harris ’, JD Vance, Democrats —, Dan Ankeles, ” Alex Seitz, Wald, Ben Kamisar Organizations: Republicans, Electoral, Democratic, Republican, Nebraska Republicans, Maine Democrats, Trump, Congressional, Maine Legislature, Maine GOP, Bangor Daily, Electoral College, Representatives, Maine, Democrats, National Locations: LINCOLNVILLE, Maine, Nebraska, Nebraska’s Omaha, “ Maine, United States, Bangor, Pennsylvania, Michigan, Wisconsin, R, Ohio, Lincolnville, Washington ,

☆ A millennial FIRE couple shares how moving abroad and living on a $50k income helped them quadruple their net worth to $700k in 6 years
▼ + stars: | 2024-09-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

AdvertisementDavis shared how he's grown his net worth — and why he thinks finding one's dream work can help them live their ideal life. For example, if a person retires at age 60 — rather than age 50 — then it would be much easier for them to hit their retirement savings goal. That's why Davis thinks the key is finding one's dream work. "You just need enough money to cover any shortfall between what you want to spend and what your dream work pays," he said. To be sure, finding a job — forget about one's dream job — is easier said than done in today's economy.

Persons: —, he'd, Brian Davis, Davis —, he's, Davis, — Davis, Brian Davis Davis, Katie, it's, they've, hasn't, That's Organizations: Service, FIRE, Business, BI Locations: Abu Dhabi, Brazil, Lima, Peru, South America

☆ She claimed she aborted her baby at nine months. In this country, there’s no law against that
▼ + stars: | 2024-09-20 | by ( Lex Harvey | Gawon Bae | ) edition.cnn.com time to read: +13 min

Protesters hold placards reading 'Abolish punishment for abortion' as they protest South Korean abortion laws in Gwanghwamun plaza in Seoul on July 7, 2018. efired/iStockphoto/Getty ImagesBy not passing abortion laws, the National Assembly is “not doing its job,” said Cho Hee-kyoung, a law professor at Hongik University in Seoul. Changing attitudes to abortionDespite the country previously having highly restrictive abortion laws, abortion has not historically been the lightning rod in South Korea that it has been in the United States. If overpopulation had once prompted the government to push abortions, South Korea was now dealing with the opposite problem. It is impossible to know the true number of abortions that take place each year in South Korea because the procedure is unregulated.

Persons: haven’t, It’s, Ed Jones, “, ”, Cho Hee, ” Cho, Nayoung, Cho, Jung Yeon, Susanné Seong, “ They’ve, Charlie Neibergall, ” Nayoung, SeongJoon Cho, Yoon Suk, she’d Organizations: Seoul CNN, vlogger, Seoul National Police, South Korean, YouTube, CNN, Getty, National Assembly, Hongik University, country’s Ministry, Justice, Health and Welfare Ministry, Health, Ministry, Welfare Ministry, World Bank, South Korea’s Institute for Health, Social Affairs, Human Rights Watch, Korea, Pharmaceutical Affairs, Supreme, Ministry of Food and Drug Safety, South, Bloomberg, Organization for Economic Cooperation, Development, HRW, Police Locations: Seoul, South Korea, Korean, Gwanghwamun, AFP, South, efired, “, United States, Jusarang, Ames , Iowa, Canadian, Korea

☆ What happened to 23andMe?
▼ + stars: | 2024-09-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Takes the company public. 23andMe went public in 2021, jumping on the SPAC trend of the era, when a bunch of companies went public via “special purpose acquisition companies” — essentially shell-company mergers that let firms go public in a hurry when investor appetite is strong. 23andMe co-founder and CEO Anne Wojcicki, pictured in 2020. Side note: I did my own 23andMe test, in 2019, motivated by a millennial compulsion to spend money on any product that promises to alleviate and/or deepen my corporeal angst. 23andMe has tried to convert one-time buyers into subscribers with the promise of continued feedback and personalized wellness plans.

Persons: CNN Business ’, it’d, Anne Wojcicki, ”, It’s, Susan Wojcicki, 23andMe, Emma McIntyre, Oprah’s, there’s …, Wojcicki, “ Organizations: CNN Business, New York CNN, Yale, Google, Wall Street, Wall Street Journal Locations: New York, Bay

☆ Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

They're just a few of the destinations trying to lure away the U.K.'s uber wealthy ahead of proposed changes to the country's divisive non-dom tax regime. They will also be prevented from avoiding inheritance tax on assets held in trust. The majority (83%) cited inheritance tax on their worldwide assets as their key motivator for leaving, while 65% also referenced changes to income and capital gains tax. Where the wealthy are movingIt comes as other countries are shaking up their tax regimes to incentivize wealthy investors. Ultra-wealthy U.K. citizens, who are typically highly active in the super-prime market, are also in "wait and see" mode ahead of possible changes to capital gains and inheritance tax.

Persons: Keir Starmer, Rachel Reeves, Macleod, Miller, they'll, Leslie Macleod, Helena Moyas de Forton, Moyas de Forton, Labour's, Alexander Spatari, I'm, Marcus Meijer, Mark, CNBC's, it's, James Myers, Oliver James, Myers, Knight Frank, Stuart Bailey, Knight Frank's, they're, Bailey Organizations: Old Bond, Pawel, Bank, Getty, Labour, Oxford Economics, Conservative, Investors, Britain, CNBC, Treasury, EMEA, Christie's, Estate, Henley & Partners, Monaco, London, Istock Locations: Old, Mayfair, London, United Kingdom, Monaco, Italy, Switzerland, Dubai, They're, Britain, Greece, Malta, Caribbean, Bahamas, Monte Carlo, Gibraltar, South Kensington, England

☆ Family offices are the most bullish they've been in years, survey says
▼ + stars: | 2024-09-20 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Family offices are the most bullish they've been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey. Nearly all family offices, 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank's 2024 Global Family Office Survey. With interest rates heading down, family offices are also regaining their appetite for stocks. More than a third, 39%, of family offices plan to increase their allocation to developed-market equities, mainly the U.S., while only 9% plan to trim their equity exposure. That comes after 43% of family offices increased their exposure to public stocks last year.

Persons: Robert Frank, they've, Hannes Hofmann Organizations: Citi, Citi Private Bank

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Mohamed Al-Fayed, the late billionaire with links to the royal family, has been accused of sexually abusing multiple women
▼ + stars: | 2024-09-20 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewMohamed Al-Fayed, an Egyptian-born billionaire, owned Harrods, a luxury London department store, for 26 years. After decades of fame and controversy, Al-Fayed died last August aged 94. Now, after years of mounting evidence and speculation, multiple women have come forward to say Al-Fayed sexually assaulted them. I just wanted it to be over," one unnamed woman, who said Al-Fayed raped her at his apartment in London's upmarket Park Lane, told the broadcaster. Al-Fayed owned Harrods for 26 years and later owned Fulham Football Club and the Paris Ritz.

Persons: —, Mohamed Al, Fayed, Princess Diana's, Dodi Fayed, Al, Gloria Allred, Mohamed Al Fayed, Forbes, Diana, Prince William, Prince Harry, St . Tropez Organizations: Service, Business, Harrods, Sky News, BBC, Al, CNN, Fulham Football Club, Paris Locations: Egyptian, Harrods, London, Paris, Park, St .

☆ I help the ultrawealthy secure golden visas and golden passports. Here are the top 5 countries they want to move to.
▼ + stars: | 2024-09-20 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a transcribed conversation with Armand Arton, 47, president of Arton Capital, a financial advisory firm, about golden visas and passports. We advise them about golden visas and golden passports — government programs that offer residency or citizenship rights to foreign investors. AdvertisementDuring the COVID-19 pandemic, many American investors couldn't enter Europe, so they are now looking for residency programs in European countries. After this year's elections in France and the UK, we're also seeing millionaires in those countries looking to relocate. I'd advise wealthy migrants to get in on programs sooner rather than laterThe number of applicants for golden visas increases every year.

Persons: —, Armand Arton, couldn't, we're, haven't, I've, It's, Brexit, We've, who've, Irma, Maria, it's, I'd Organizations: Service, Arton, Arton Capital, Business, Caribbean Locations: Europe, France, Hungary, Portugal, Spain, Property, Greece, Italy, England, Germany, UAE, Antigua, Barbuda, Bulgaria, Ireland

☆ I'd sworn off dating apps until I heard about the 'burned haystack' approach women are swearing by. So I put it to the test.
▼ + stars: | 2024-09-20 | by ( Nicola Prentis | ) www.businessinsider.com time to read: +6 min

Read previewAfter a two-and-a-half-year break from the time-suck of dating apps, I reluctantly reinstalled one on my phone a few weeks ago. The return was inspired by Burned Haystack, a new dating method that encourages daters to filter out time wasters and red flags as soon as possible. Young started the Facebook group Burned Haystack Dating Method last year. With the net cast wide, surely I'd meet someone interesting sooner, right? AdvertisementThe author has been connecting with members of the Facebook group Burned Haystack Dating Method.

Persons: —, Jennie Young, Young, Rather, I've, we'll, I'm, he's, I'd, they're, it's Organizations: Service, Business, University of Wisconsin, Facebook, swiping, Netflix Locations: Green

WASHINGTON — As president, Donald Trump slashed a lucrative tax break enjoyed by coastal donors and suburban swing-state voters. What shifted more than the economy is Trump's needs, said Caroline Bruckner, managing director of American University's Kogod Tax Policy Center. The reversal is one of a flurry of freebies that Trump and his rival, Vice President Kamala Harris, are offering voters in the stretch run before Election Day. Trump’s proposal to repeal the SALT cap, which is set to expire next year if Congress takes no action, would reduce federal revenue by $1.2 trillion over a decade, according to CRFB’s estimate. But many voters in those counties would stand to benefit considerably from a repeal of the SALT cap.

Persons: Donald Trump, he's, Trump, ransoming, Caroline Bruckner, Bruckner, Kamala Harris, Peter Zay, Harris, She’s, “, ”, Charlie Dent, ” Dent, ” Donald Trump, Jeff Kowalsky, Marc Goldwein, ” Goldwein, ” Harris, —, Donald Trump won’t, James Singer, Joe Biden’s, I’ve, it’s, Mark Cuban, Jackson, Biden —, Dent Organizations: WASHINGTON, Trump, Getty, Social, Foundation, Social Security, Democratic, CNBC, Tax Foundation, NBC News, Tax Locations: Washington, Anadolu, AFP, South Carolina, Mississippi, Harris, Manhattan, San Francisco, Silicon, Valley , Idaho, Aspen , Colorado, , Wyoming, Westchester County , New York, Fairfield County , Connecticut, Maricopa County, Arizona's, Philadelphia, Wilmington , Delaware, Montgomery, Chester, Delaware, Allegheny County

☆ Trump Media shares slide with DJT sale restrictions set to lift
▼ + stars: | 2024-09-19 | by ( Kevin Breuninger | ) www.nbcnews.com time to read: +1 min

Shares of Trump Media fell at the opening bell Thursday, with just hours to go until former President Donald Trump is expected to be able to start selling his nearly $2 billion stake. The company, which owns social media platform Truth Social and trades as DJT on the Nasdaq, was down 5% at the market open. Trump Media has acknowledged in regulatory filings that the end of the lockup could spur large sales of the company’s stock, and even the market’s perception of a sell-off could drive down DJT’s stock price. The company’s fortunes are tied up with those of Trump, whose use of Truth Social makes him a main draw to the platform. After soaring in its public trading debut, Trump Media has suffered a monthlong stock slump that has coincided with Trump’s tumultuous presidential campaign against Democratic nominee Kamala Harris.

Persons: Donald Trump, Trump, Kamala Harris Organizations: Trump Media, Nasdaq, Trump, Republican, Democratic

☆ Battleground stocks: Wall Street is completely divided on these controversial names
▼ + stars: | 2024-09-19 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.

Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge

☆ Billionaire tech CEO says bosses shouldn't 'BS' employees about the impact AI will have on jobs
▼ + stars: | 2024-09-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Corporate leaders can't "bulls---" their employees about the impact of artificial intelligence on the workforce and the ways in which the technology will affect jobs more broadly, according to one tech billionaire. "If I could give any advice, it's that everybody should be a student of AI and tech and not be afraid of it." Even though it's a given AI will impact the workforce, "none of us have it all completely figured out," he said. "If anybody comes in and tells you, 'I can tell you exactly how this is going to impact jobs and how it's going to impact everything we're doing,' they're lying. Kavanaugh co-founded WWT in 1990 with fellow St. Louis, Missouri-based entrepreneur David Steward as a reseller of technology equipment.

Persons: Jim Kavanaugh, Kavanaugh, David Steward Organizations: CNBC, Forbes, U.S, team Locations: Louis , Missouri, Los Angeles

☆ LVMH's Bernard Arnault has gone from the world's richest person to flirting with 5th place after a $54 billion wipeout
▼ + stars: | 2024-09-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Bernard Arnault has gone from the world's wealthiest person to being on the brink of dropping to fifth. The LVMH CEO's net worth has tanked by $54 billion from its March peak, and $30 billion so far this year. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBernard Arnault was the richest person on the planet six months ago; now he's flirting with fifth place.

Persons: Bernard Arnault, —, LVMH Moët Hennessy Louis Vuitton, Elon Musk, Jeff Bezos Organizations: Service, Tesla, Amazon, Bloomberg, Business Locations: Arnault

Introduction to the federal funds rateDefinition and purpose of the federal fund rateThe federal funds rate, or fed funds rate, is the interest rate set by the Federal Open Markets Committee. The Federal Reserve lowered the federal fund rate on September 19, 2024, to stop aggressive inflation and prevent a recession. Today, the federal fund rate is 5.00%, with the federal fund target rate being 4.75% to 5.00%. How the federal funds rate worksThe federal funds rate, or the overnight rate, is the interest commercial banks charge when they lend money to one another for extremely short-term periods — literally, overnight. Federal funds rate FAQsWhat happens when the federal funds rate is high?

Persons: Karen Fernandez Tessa Campbell, Tessa Campbell, Tessa, she’s Organizations: Federal Reserve, Federal, Federal Open Markets, Fed, Market, Fed's, Governors, Federal Reserve Bank, Susquehanna University

☆ Child-free spaces, dirty looks on planes and ‘breeders’: Why people seem so annoyed by kids in public
▼ + stars: | 2024-09-19 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

CNN —In some corners of society, there appears to be a shift in the way people talk about kids. Every so often, a provocative social media post sets off predictably polarizing discourse about the presence of children in daily life. The implication (joking or otherwise) is that children are a nuisance and adults shouldn’t have to endure them if they don’t want to. The people behind them aren’t part of some organized movement nor are they actually lobbying for the exclusion of children from public spaces. Rather, Berg understands online disdain for kids partly as a performative response to rhetoric from political and religious conservatives.

Persons: snarkily, ”, shouldn’t, Mariah Maddox, —, Elinor Burkett, Boon, “, Lisa Belkin, Jason Lancaster, Anastasia Berg, Rachel Wiseman, Berg, JD Vance’s, Pope Francis, aren’t, Jessica J, June Carbone, Carbone, ” Carbone, Yolanda Williams, glared, ” Williams, Lauren Kavan, She’s, Kavan, ‘, ’, Jessica Calarco Organizations: CNN, Friendly, New York Times Magazine, University of Wisconsin, Madison, “, tote Locations: Ohio, Nebraska, Berg

☆ Nuclear fusion: The US led in this clean energy race for decades. Now China is in position to win
▼ + stars: | 2024-09-19 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +10 min

It’s also here, on an unassuming downtown street, a small start-up called Energy Singularity is working on something extraordinary: nuclear fusion energy. Nuclear fusion, the process that powers the sun and other stars, is painstakingly finicky to replicate on Earth. The Chinese government is pouring money into the venture, putting an estimated $1 billion to $1.5 billion annually into fusion, according to Jean Paul Allain, who leads the US Energy Department’s Office of Fusion Energy Sciences. The US was among the world’s first to move on the futuristic gambit, working on fusion research in earnest since the early 1950s. CNNThe US has been a fusion leader for decades; it was the first nation to apply fusion energy in the real world — in a hydrogen bomb.

Persons: It’s, Lam Yik Fei, Jean Paul Allain, Biden, “, it’s, ” Allain, Andrew Holland, Holland, ”, ” Holland, Damien Jemison, Lawrence, Melanie Windridge, Mikhail Maslov, Allain Organizations: CNN, 6G, Beijing outspends DC, New York Times, US Energy Department’s, Fusion Energy Sciences, Private, Nikkei . Energy, MIT, Fusion Industry Association, Princeton, Physics, American, America, Commonwealth Fusion Systems, ” CNN, China’s National Energy Administration, Lawrence Livermore National Laboratory, Fusion Energy, EAST, UK Atomic Energy Authority Locations: Shanghai, America, China, Beijing, Washington, DC, Japan, Europe, United States, Hefei, Xinhua, Massachusetts, Hiroshima, California, Lawrence Livermore

☆ 'Fertile hunting ground': Portfolio manager names 9 stocks to cash in on India's growth
▼ + stars: | 2024-09-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.

Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

☆ The company behind Sam Altman's iris-scanning ID startup just revealed new tech. Its privacy chief explains how it works.
▼ + stars: | 2024-09-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

The technology is similar to Apple's Face ID but mobile platform-agnostic, given that many Worldcoin users have Android devices. So I can take a photo of your face, and, through complicated AI, I could fool Face ID, for example. If it is the first time, the orb takes the iris code and cryptographically processes the iris code. Individually, neither of those new codes looks anything like the iris code, nor can they be brought back to the iris code on their own. The one person that can access that information is the owner of the world ID — the user.

Persons: Sam Altman's, Worldcoin, It's, Damien Kieran, Elon Musk, Kieran, they're, it's, Alex, Sam Altman Organizations: Service, Business, Companies, Humanity, Twitter, Google Locations: Germany, France, Kenya

7:03 a.m.: Bernstein cuts price target on Nike amid innovation critiques Bernstein sees slightly less room for Nike to rebound. — Alex Harring 6:25 a.m.: Jefferies recommends buying NextEra Energy Partners despite buyout concern Jefferies came out of the gates optimistic on NextEra Energy Partners . Analyst Julien Dumoulin-Smith initiated coverage of the Florida-based renewable energy stock at a buy rating. — Alex Harring 5:54 a.m.: AI helps HubSpot compete, BofA says Bank of America is keeping an eye of HubSpot's artificial intelligence work. — Alex Harring 5:46 a.m.: JPMorgan says to sell Five Below JPMorgan turned bearish on Five Below , citing challenges that are hard to surmount for the value-focused retailer during a tough year.

Persons: Piper Sandler, Bernstein, Aneesha Sherman, Sherman, Alex Harring, BTIG, it's, Jake Fuller, Fuller, DoorDash, — Alex Harring, Jefferies, Julien Dumoulin, Smith, Hertz, Dan Levy, Levy, Avis, HubSpot, BofA, BofA's Brad Sills, Sills, monetization, Matthew Boss, Boss, Abbott, Adam Maeder, necrotizing, ABT, Maeder, Fred Imbert Organizations: CNBC, Laboratories, JPMorgan, Nike, Dow Jones, Jefferies, NextEra Energy Partners, Barclays, Hertz, Bank of America, LSEG, Abbott Laboratories Locations: Wednesday's, Florida, Thursday's premarket

☆ Your taxes are going up in 2026, according to Morgan Stanley. Here are 5 tax-advantaged trades to make.
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.

Persons: —, Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City

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