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Why tariffs on Chinese EVs may not work
  + stars: | 2024-06-15 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +2 min
The Chinese auto sector is increasingly making global automakers and politicians hot under the collar. In the early 1980s, the Chinese auto industry barely existed. President Joe Biden last month introduced stiff tariffs on Chinese EVs, effectively doubling the list price, which can otherwise be as cheap as $11,500. The administration says Chinese firms have benefited from unfair government support, and Chinese EV imports threaten the Biden administration's big investments in EVs. But a few auto industry insiders are skeptical that tariffs will be able to hold off Chinese imports for long.
Persons: Dunne, Michael Dunne, Joe Biden, Sen, Sherrod Brown, Tesla, Elon Musk, Bill Russo, Donald Trump, Russo Organizations: Volvo, EV, Biden, Chrysler Locations: China, U.S, Sweden, EVs, Ohio, Shanghai, Beijing
Catherine Reappears, in White
  + stars: | 2024-06-15 | by ( Vanessa Friedman | ) www.nytimes.com   time to read: +1 min
On Saturday morning Catherine, Princess of Wales, tiptoed back onto the public stage for the first time since announcing her cancer diagnosis last year in her signature color-coordinated way, joining the rest of the royal family on the balcony of Buckingham Palace for the traditional finale flyover of King Charles’ birthday parade. She wore a white knee-length Jenny Packham dress with a black-and-white striped belt and a jaunty bow at the neck, topped off with a Phillip Treacy hat, angled just so. As a family unit, on the balcony, it created the image of a tightly controlled, unmistakably harmonic, unified front for a photo op set to go ’round the country. Nothing anxiety-provoking to look at here, the picture seemed to say. Everything’s going to be fine.
Persons: Catherine, Princess of Wales, tiptoed, King Charles ’, Jenny Packham, Phillip Treacy, Princess Charlotte, Princes George, Louis, Jack, Charles and Prince Edward Locations: Buckingham
We Overvalue Intelligence - The New York Times
  + stars: | 2024-06-13 | by ( David Brooks | ) www.nytimes.com   time to read: +1 min
Do they go from success to success, powered by their natural brilliance? The first is the social science answer. Social science researchers give promising children intelligence tests, and then they check in on them over the ensuing decades to see how much the students’ early intelligence correlates with lifetime success. The social science answer is that higher intelligence correlates strongly with positive educational and career outcomes. By the 1950s, two-thirds of the Terman kids had become college graduates, a figure 10 times that of the general population.
Persons: people’s, Lewis
In 2013, the share of self-identified liberals among young women exceeded the share among young men by 5 percentage points; by 2023, that gap was nearly four times as large. (In that survey, young men were substantially more likely than young women to say they rely on YouTube as a major source of news.) (In the Harvard poll, one-fourth of young women identified in some way as LGBTQ, more than double the share of young men.) “He’s got to make up for the defection of young men by winning young women by more, and he’s got to get every young woman he can out to vote,” said Lake, the Democratic pollster. Biden’s best hope of avoiding a catastrophic decline in his youth support is that the number of young women Trump repels exceeds the number of young men he attracts.
Persons: Joe Biden, Donald Trump, Biden, John Burn, Murdoch, , Harvard University’s John F, Daniel Cox, William Frey, Melissa Deckman, Gen, , Trump, John Della Volpe, Joe Biden doesn’t, Della Volpe, White, Deckman, aren’t, Cox, Dobbs, Anna Dean, Dean, ” Della Volpe, he’s, don’t, ” Cox, “ Donald Trump, “ He’s Organizations: CNN, Trump, Biden, Pew Research Center, Financial, NBC, Democratic, Republican, GOP, Institute of Politics, Harvard University’s, Kennedy, Republican Party, Harvard, Democrats, Survey Center, American Enterprise Institute, Biden didn’t, Brookings Metro thinktank, Religion Research Institute, Biden’s, YouTube, Pew, AEI, Blacks, Harvard Poll, Biden won’t Locations: Gaza, New York, Bentonville , Arkansas, America
Read previewIf you thought Tom Cruise's legendary "Mission: Impossible" motorcycle stunt was the wildest thing you'd see him do, think again. And according to Cruise's "Mission: Impossible — Dead Reckoning Part One" costar Shea Whigham, that was just the beginning. "Tom Cruise does stuff that's gonna make number seven pale in comparison," Whigham told Business Insider. In "Dead Reckoning," parts one and two, Whigham plays Jasper Briggs, an agent on Ethan Hunt's (Cruise) tail. "What he's doing now, people are going to be floored," Whigham told The Hollywood Reporter.
Persons: , Tom Cruise's, Glen Powell, Cruise, Tom Cruise, Shea Whigham, Whigham, Lexie Moreland, George, Jeffrey Reiner, Don, Phyllis, Carrie Coon, Jasper Briggs, Ethan Hunt's, Christopher McQuarrie Organizations: Service, Business, Getty, Tribeca, Hollywood
Alexander Spatari | Moment | Getty ImagesAs U.S. cities continue their recovery from the pandemic and inflation, New York City was expected to provide a key national test for the economic value of congestion pricing. A cost of living crisis, preparing for climate challenges, and aging infrastructure, including public transportation, all made the congestion pricing plan make sense to many. Her group also has supported a congestion pricing plan for two decades. The long, and often losing, history of congestion pricing The battle over congestion pricing in New York City has a much longer history than you may think. In 2007, then-New York City Mayor Michael Bloomberg made the case for congestion pricing, but couldn't get enough support in the state's capital.
Persons: Alexander Spatari, United States —, Kathy Hochul, Hochul, JPMorgan Chase, Jamie Dimon, , Kathryn S, Wylde, Josh Gottheimer, William Vickrey, Michael Bloomberg, Andrew Cuomo, Cuomo, that's, Gottheimer Organizations: Metropolitan Transportation Authority, MTA, New, Business District, Gallup, JPMorgan, New York's Department of Transportation, Partnership, Community Service Society, MTA Traffic, Regional Plan Association, Jersey Transit, New York City, New York Times, New York, Buffalo . Rep, Buffalo Bills Locations: New York City, United States, Covid, Manhattan, New York, New Jersey, New Jersey's Sussex County, Jersey, Connecticut, Long Island, Southeastern New York, New, Buffalo
We are both in our 30s, so it's the perfect time, but we have one big problem: We are financially unstable. We can't decide whether to go for it anyway or race the clock between fertility and financial stability. My partner and I are struggling financiallyMy partner and I were both raised middle class. Housing, food, childcare, education, transportation, and healthcare are all vital when raising children. Our goal is to improve our financial situation before my fertility window closesFor now, we are seeking out options.
Persons: We've, , you'll Organizations: Service, Business
AdvertisementWill Merchan sentence Donald Trump to jail? Merchan will not sentence Trump to prison, the four agreed. Merchan could theoretically sentence Trump to as little as a single day in Rikers, said Kamins, now in private practice at Aidala, Bertuna & Kamins. But even in the unlikely event of a low-jail sentence, Trump's appeals would keep him at liberty for years, all four judges said. "I certainly don't know what the right decision is, or what Judge Merchan will do," Obus told BI.
Persons: , Donald Trump, Will, Juan Merchan, Trump, blunts, Attorney Alvin Bragg, Bragg, Jane Rosenberg, Michael Obus, Barry Kamins, Charles Solomon, Solomon, Shannon Stapleton, Kamins, Richard Drew Appeals, — Obus, Trump's, Ted Cruz, Joshua Steinglass, Obus, I've, Ron Kuby, Kuby, Merchan, STEVEN HIRSCH, Judge Merchan, Susan Necheles, Stormy Daniels, Jane Rosenberg Merchan, Rehashing, he's Organizations: Service, Will New, Business, Attorney, REUTERS, New York, New, New York City, BI, Trump, Manhattan, Republicans, AP, National Enquirer, Getty Images, Harvard Business School, Reuters, Manhattan Criminal Locations: Rikers, Manhattan, New, New York, Brooklyn, , New York, New York's, Aidala, United States, Florida, Washington
Trump was found guilty of 34 felonies in his hush-money case and is set to be sentenced July 11. James Comey told CNN that usually, a white-collar crime like this wouldn't end in a prison sentence. "But this is a defendant who's begging for a jail term," Comey said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "But this is a defendant who's begging for a jail term by taking a flamethrower, not just to the judge, but to the entire process and the jury," Comey said.
Persons: Trump, James Comey, Comey, , Donald Trump Organizations: CNN, Service, Business
Opinion | How Will Trump’s Conviction Affect the Election?
  + stars: | 2024-06-05 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “‘Guilty’ May Not Matter,” by Frank Bruni (Opinion, June 2):Mr. Bruni fears that Donald Trump’s newfound status as a convicted felon may not be enough for him to lose the election. Although Mr. Bruni may be right, he and the rest of us who desperately want to keep this despicable demagogue from returning to the White House should consider why so many millions would vote for a candidate with a criminal record. Mr. Trump’s appeals to grievance and nostalgia for a bygone era have found fertile ground among the non-college-educated working class whose economic advancement has stalled over the past several decades. In many cases Mr. Trump simply exploits racism and xenophobia, but legitimate injury is there as well. With his declarations of a system rigged against both him and his supporters, Mr. Trump has cynically channeled anger at elites who have successfully ridden out or even engineered capitalism’s latest jolts.
Persons: Frank Bruni, Bruni, Donald Trump’s, Trump’s, Trump
— artificial intelligence — is spurring curiosity and fear. paper, Acemoglu contended that artificial intelligence has the potential to improve employment prospects rather than undermine them:It is quite possible to leverage generative A.I. as an informational tool that enables various different types of workers to get better at their jobs and perform more complex tasks. Think of a generative A.I. To turn generative A.I.
Persons: Will A.I, Daron Acemoglu, David Autor, Simon Johnson, Johnson, Acemoglu, ” Acemoglu, — Tyna Eloundou, Pamela Mishkin, Sam Manning, Daniel Rock Organizations: Machines, of, World Trade Association, A.I, OpenAI, Centre, University of Pennsylvania, Labor Locations: M.I.T, United States, Autor, China, A.I
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Austin Wang, a class-of-2025 computer-science major at Yale University, said students were "scared that engineering roles will be replaced in the future." Handshake found that fewer prospective business graduates were applying to consulting roles and that more were seeking positions in customer relations, marketing, and analytics compared with last year. Handshake's analysis suggested tech job postings geared toward fresh graduates fell by 30% compared with last year. Advertisement"It's quite bad for entry-level jobs in general but even worse for international students," she said.
Persons: , It's, Goldman Sachs, Morgan Stanley, Austin Wang, Fabrice Coffrini, Beth Hendler, Matthew Park, Anika Nair, Rutgers University . Austin Wang, Anika Nair Yale's Wang, Wang, Amr Alfiky, you'll, Adnan Hussain, Christine Cruzvergara, Richard Carruthers, I've Organizations: Service, Management, Big Tech, National Association of Colleges, Employers, Business, New York Times, Yale University, McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, McKinsey, Getty Images Industry, Yale, Tech, Companies, Ivy League, Rutgers University ., Rutgers University, JPMorgan —, Investment, Citigroup, JPMorgan, Deutsche Bank, Finance, Reuters, National University of Singapore, Imperial College London, KPMG, Deloitte, HSBC, Amazon Web Services Locations: Wall, AFP, Singapore
In “Becoming Karl Lagerfeld” he is brooding, combative and ambitious, sure — but we are equally encouraged to root for him. Despite Dietrich’s protestations, the creators of “Becoming Karl Lagerfeld” seem to side with their muse. Parisian fashion in the 1970s was, “Becoming Karl Lagerfeld” suggests, a scene broadly gatekept by a handful of squabbling men. "Becoming Karl Lagerfeld" intends to plunge the viewer into the heart of 1970s Paris, Monaco and Rome, to "follow the formidable blossoming of this complex and iconic personality," say the show notes. “Becoming Karl Lagerfeld” is, stylistically, a luxurious tribute to ‘70s flair: gorgeous to look at and offering an aggressively humanized look at some of fashion’s biggest names.
Persons: CNN —, Karl Lagerfeld, Daniel Brühl, Jacques de Bascher, Théodore Pellerin, , , Kaiser Karl, Bascher, , Yves Saint Laurent, Arnaud Valois, King, King Louis XIV, Lagerfeld, Caesar Flickerman, Stanley, Chuck Bass, Ed Westwick, Chanel, Jean, Claude Sauer, Gaby Aghion, Agnès Jaoui, Karl Lagerfeld ”, Saint Laurent, fawning, ” Karl Lagerfeld, couturier Pierre Balmain, ullstein, Marlene Dietrich, Sunnyi Melles, Dietrich, , Charles Frederick, Worth, ” Claire Wilcox, ” Worth, Caroline Dubois, Abigail Joseph, — Louis XIV, Joseph, Pierre Larousse’s, Schiaparelli, de Organizations: CNN, Hulu, Metropolitan Museum of Art, German, London’s, Albert Museum, , Jour, Disney, Peterborough Express ”, Leitrim Advertiser, Dior, Balmain, Givenchy Locations: France, Chloé, Paris, Monaco, Rome, Worth, Peterborough
CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.
Persons: Mark Wolfe, , Wolfe, Diana Hernandez, Hernandez, , ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke
Electric Cars Are Suddenly Becoming Affordable
  + stars: | 2024-06-03 | by ( Jack Ewing | ) www.nytimes.com   time to read: +1 min
Alex Lawrence, a dealer in Salt Lake City who specializes in used electric cars, has seen a change over the last year in the kinds of customers who are coming into his showroom. Recently, Mr. Lawrence said, customers have been snapping up used Teslas for a little over $20,000, after applying a $4,000 federal tax credit. “We’re seeing younger people,” Mr. Lawrence said. The purchase price of the car has suddenly become in reach.”Regarded by conservative politicians and other critics as playthings of the liberal elite, electric vehicles are fast becoming more accessible. Federal tax credits of up to $7,500 for new electric cars, often augmented by thousands of dollars in state incentives, push prices even lower.
Persons: Alex Lawrence, Lawrence, , Mr Locations: Salt Lake City
I'm good at my job, but it comes at a costIt's a site I wouldn't necessarily read myself, but I understand the assignment. AdvertisementIn addition to meetings and managing the day-to-day operations of our site, I'm in charge of an open-blogging, user-generated-content (UGC) platform, a project of which my bosses are especially proud. "Ambition Monster: A Memoir" by Jennifer Romolini is out June 4. Excerpted from Ambition Monster: A Memoir by Jennifer Romolini. Copyright 2024 Jennifer Romolini.
Persons: Tom Hanks, Kate, Jennifer Romolini, There's, I've, I'm, Alex, We've, revel Organizations: Service, Finance, Sports Locations: Silicon
Advertisement"The clerk of the court will give you instructions on how to go about scheduling that probation interview and getting that probation report," the judge said. But Trump won't do a penitent probation interview — or any at all, Kuby predicted. Advertisement"If he wants to show remorse, then certainly the probation report is a good place to start doing that," he added. During the first part of the interview, Trump would be asked for standard, so-called "pedigree" information — name, aliases, address, profession, marital status, that kind of thing. During the rest of the interview, Trump would be offered the chance to speak about his conviction and make a plea for leniency.
Persons: , Donald Trump, Juan Merchan, Blanche, Trump, Todd Blanche, Susan Necheles, Emil Bove, Diana Florence, I've, Ron Kuby, Kuby, Merchan, Angel Rodriguez, Rodriguez, Christine Cornell, , Arnold Levine, He'd, Levine, Florence Organizations: Service, New York City Department, Investigation, Business, Unit, Trump, Attorney's, BI, Avenues, Justice, Legal Aid Society, New, Defense Task Force Locations: New, Merchan's, Manhattan, Florence
Read previewWhen they felt their plane lurch and plummet, Ade Tan and Amos Chan, both 28, barely had time to react. We were planning to continue our honeymoon after that, so we were coming back just for a day," Tan said. SQ321 made an emergency landing in Bangkok after it was hit by severe turbulence. Being trained medical doctors, Tan and Chan went around the cabin to tend to injured passengers. I went more toward the front of the plane while Amos went to the back," Tan said.
Persons: , Ade Tan, Amos Chan, Amos, Tan, Chan, SQ321, Lillian Suwanrumpha, Ade Tan Rushing, Geoffrey Kitchen, Kitchen, weren't Organizations: Service, Business, Singapore Airlines, SIA, Changi Airport, Singapore Airlines Boeing, Getty, Safety Investigation, Boeing, Facebook, Transport Safety Investigation Locations: Italy, Iceland, London, Singapore, Bangkok, AFP, Myanmar
Mr. Bragg has accused Mr. Trump of concealing a federal campaign finance violation and a state election-law crime. The defense argued that Mr. Trump was a victim of extortion, led by Mr. Cohen. The defense’s main witness was a lawyer linked to Mr. Trump’s circle, Robert J. Costello, who in 2018 had acted as Mr. Cohen’s back channel to Mr. Trump’s legal team. The maximum sentenceThe charges against Mr. Trump are all Class E felonies, the lowest category of felonies in New York. But nothing in the law requires Justice Merchan to imprison Mr. Trump if he’s convicted by a jury.
Persons: Donald J, Trump, Stormy Daniels, Trump’s, Michael D, Cohen, Daniels, Alvin L, Bragg, Juan M, Karen McDougal, Playboy’s, , McDougal, Cohen’s, Hope Hicks, Mr, Robert J . Costello, Merchan, Justice Merchan Organizations: Prosecutors, The National Enquirer, Trump Tower, White, Trump, Defense, Mr Locations: New York City, Manhattan, Nevada, New York
With Donald J. Trump’s unprecedented felony conviction on Thursday, what has long been a remote and abstract concept could move closer to a stunning reality: a former president of the United States behind bars. A jury in Manhattan convicted Mr. Trump of 34 counts of falsifying business records in the first degree, a crime that under New York State law carries a possible sentence that ranges from probation to four years in prison. But Mr. Trump is no ordinary defendant. And while most experts think a prison sentence is unlikely, the judge in the case, Juan M. Merchan, has made it known that he takes white-collar crime seriously. If Justice Merchan hands down a punishment that lands the former president behind bars — what is known as a custodial sentence — Mr. Trump would be no ordinary prisoner.
Persons: Donald J, Trump, Juan M, Merchan Organizations: New York Locations: United States, Manhattan, New York State
Hiring stays strong for low earners, Vanguard finds
  + stars: | 2024-05-30 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +1 min
The pace of hiring remains strong for lower-earning Americans, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard. The hires rate for the bottom third of workers by income (who earn less than $55,000 a year) was 1.5% in March, where it has largely hovered since September 2023, according to a new Vanguard analysis. on a collision course with white-collar, high-paid jobsSome jobs still seeing relatively big annual raisesHow to spot and overcome 'ghost' jobsThe hires rate gauges the number of new hires as a share of existing employees. By comparison, it was lower — about 1.2% to 1.3% — in the months leading up to the Covid-19 pandemic, Vanguard found. Vanguard is among the nation's largest 401(k) plan administrators.
Persons: Adam Schickling Organizations: Vanguard, Finance
Former U.S. President Donald Trump arrives to court for his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024. Former President Donald Trump called his criminal hush money trial a "disgrace" on Thursday, after a New York jury found him guilty on all 34 criminal counts of falsifying business records. "This was a rigged, disgraceful trial," Trump told reporters outside the courtroom in Manhattan Supreme Court. With the jury's unanimous verdict, Trump became the first former U.S. president ever to be convicted of a crime. "May 30th, 2024 might be remembered as the day Donald J. Trump won the 2024 Presidential Election," wrote Eric Trump, one of the former president's two adult sons, on X.
Persons: Donald Trump, Trump, Attorney Alvin Bragg, Bragg, Donald J, Eric Trump, Trump's, Michael Cohen, Cohen Organizations: U.S, Manhattan Criminal, New, Truth, Manhattan, Attorney, Trump, Republican Locations: New York City, New York, Manhattan, U.S
Mr. Bragg has accused Mr. Trump of concealing a federal campaign finance violation and a state election-law crime. The defense argued that Mr. Trump was a victim of extortion, led by Mr. Cohen. The defense’s main witness was a lawyer linked to Mr. Trump’s circle, Robert J. Costello, who in 2018 had acted as Mr. Cohen’s back channel to Mr. Trump’s legal team. The maximum sentenceThe charges against Mr. Trump are all Class E felonies, the lowest category of felonies in New York. But nothing in the law requires Justice Merchan to imprison Mr. Trump if he’s convicted by a jury.
Persons: Donald J, Trump, Stormy Daniels, Trump’s, Michael D, Cohen, Daniels, Alvin L, Bragg, Juan M, Karen McDougal, Playboy’s, , McDougal, Cohen’s, Hope Hicks, Mr, Robert J . Costello, Merchan, Justice Merchan Organizations: Prosecutors, The National Enquirer, Trump Tower, White, Trump, Defense, Mr Locations: New York City, Manhattan, Nevada, New York
Jabin Botsford-Pool/Getty ImagesFalsifying business records in the first degreeThe standard jury charge for falsifying business records in the first degree. NYCourts.govProsecutors say Trump caused 34 business records to be falsified as part of an illegal conspiracy to influence the 2016 election. Merchan read to jurors from the standard jury charge for felony falsifying business records. Read the judge's "jury charge" here. To convict, jurors must find that Trump falsified business records to conceal an attempt to violate 17-152.
Persons: , Donald Trump's, intently, Juan Merchan, Trump, Donald Trump, Todd Blanche, Emil Bove, Jabin, reimbursements, Trump's, Michael Cohen, Cohen, Daniels, Merchan, Jane Rosenberg, Donald Trump , Jr Organizations: Service, Business, Trump, Getty, NYCourts.gov Prosecutors, REUTERS, New Locations: New, New York, York
“When I was 18, I registered as a Republican,” London said. Haley garnered nearly 17% of the primary vote statewide this year — approaching 25% in the suburban collar counties around Philadelphia. “It’s a principled position I need to take.”Irma Fralic, too, cast her primary vote for Haley as a protest. CNNOur visit to Pennsylvania coincided with Haley announcing she will vote for Trump in November despite significant differences with the presumptive GOP nominee. Eyeing Trump, but holding her noseLinda Rooney cast her Haley vote in the primary as a question as much as a protest.
Persons: Joan London, , Reagan, Bush, Obama, , , “ I’ve, Nikki Haley, Pennsylvania’s, Haley, Donald Trump’s, Ronald, I’ve, , Trump, Joe Biden, London’s, Biden, ” Irma Fralic, ” Fralic, I’m, I’d, , ’ ” John King, Irma Fralic, Fralic, Eyeing Trump, Linda Rooney, ” Rooney, Rooney, ” John King, “ Haley, ” Rooney texted, “ She’s, Trump Michael Pesce, ” Pesce, Ronald Reagan, , We’re, Pesce, “ I’m Organizations: Pennsylvania CNN, Republican, Pennsylvania, Tea, Independent, South, Republican Party, CNN, Donald Trump’s GOP, Trump, Reagan Republican, Media, Army, , Coast Guard, Republicans Locations: Fleetwood, Pennsylvania, London, Washington ,, South Carolina, Philadelphia, Berks County, Philly, Israel, Wyndmoor , Pennsylvania, Delaware County, Afghanistan, Media , Pennsylvania, Bucks County
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