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The Rubin Museum of Art in Manhattan will shutter after two decades of championing its prized collection of art from Himalayan Asia, with leaders saying on Wednesday that they wanted to envision a modern museum without walls. But the museum, which will sell its building, was also facing financial challenges and had become a focal point in recent discussions about the history of religious objects being looted from Asian countries. Doors to the Rubin Museum will close Oct. 6, when its last exhibition ends, before the institution transitions to a skeleton crew that will process long-term loans and research inquiries and help with fund-raising. “The definition of what a museum is has evolved dramatically in recent years,” Noah Dorsky, the museum’s board president, said in a statement. “Historically, the Rubin’s culture embraces continual change and evolution, and in our new incarnation, we are redefining what a museum can be.”
Persons: Jorrit Britschgi, ” Noah Dorsky, Organizations: Rubin Museum of Art, Rubin Locations: Manhattan, Himalayan Asia
Italy's Meloni Opens Africa Summit, Promises New Partnership
  + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
The summit, being held in Italy's ornate Senate, will last all day, with Italian ministers due to outline an array of initiatives, from energy and infrastructure to health and education, that Meloni says will be mutually beneficial. "We believe it is possible to envision and write a new chapter in the history of our relationship, a cooperation among equals, far from any predatory imposition or charitable stance towards Africa," Meloni said in an opening speech. Eni, Italy's largest importer of natural gas, has already countered lower Russian supplies by shipping increased volumes from Africa, where it has had a presence for decades. The company has said Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years. Most had departed from North African countries such as Tunisia and Libya, many fleeing poverty and conflict in sub-Saharan Africa and the Middle East.
Persons: Crispian Balmer, Angelo Amante ROME, Giorgia Meloni, Meloni, Enrico Mattei, Ursula von der Leyen, Charles Michel, Mattei, Alex Richardson Organizations: Italian, Eni, European Union, European, Energy, EU Locations: Rome, Africa, Italy, China, Russia, Gulf, Tunisia, Senegal, Kenya, Republic of Congo, Somalia, Ukraine, Algeria, Egypt, Libya, Europe, North, Saharan Africa
Goldman Sachs is getting bullish on tech ahead of key earnings. CNBC Pro combed through Goldman Sachs research to find the firm's favorite tech names as earnings season heats up. Microsoft Analyst Kash Rangan expects big results from Microsoft when the company issues its fiscal second-quarter report on Tuesday . Broadcom Goldman recently reinstated coverage of the semiconductor company with a buy rating ahead of its earnings report in February. In addition, the VMware deal should "drive operating margin expansion and earnings growth well in excess of the industry average," he said.
Persons: Goldman Sachs, Kash Rangan, Rangan, Broadcom Goldman, Toshiya Hari, Hari, Apple Goldman, Michael Ng, Ng, … AAPL Organizations: CNBC, Apple, Microsoft, Broadcom, VMware, Apple Services, Apple Music, Apple Vision, Semiconductor, TAM Locations: CY23
LOS ANGELES (AP) — Women lead the major categories at the Grammys this year – names like SZA, Taylor Swift, Victoria Monét, Phoebe Bridgers, Olivia Rodrigo and Brandy Clark top the list. If Taylor Swift wins for “Midnights,” she will become the first artist in Grammy history to win the top prize four times. (And, conversely, artists it loves to nominate but not award: both Lana Del Rey and Miley Cyrus have yet to receive a Grammy. I'd love to see a Cyrus win, but I’ve been burned before! She’s tied with the likes of Taylor Swift and Miley Cyrus with six nominations, and I think it is her time to finally take home a trophy.
Persons: Taylor Swift, Victoria Monét, Phoebe Bridgers, Olivia Rodrigo, Brandy Clark, Maria Sherman, Jonathan Landrum Jr, ” Jon Batiste, , ” Miley Cyrus, Lana Del Rey, ” Janelle Monáe, , ” Taylor Swift, I’m, Swift’s, Jon Batiste —, Swift, Billie Eilish, Lady Gaga, Justin Bieber, it’s, Batiste, Victoria, ” Olivia Rodrigo, Victoria Monét’s, Monét, I'm, Jack Antonoff, Sam Dew, ” Jack Antonoff, Dan Wilson, ” Caroline Ailin, Mark Ronson, Andrew Wyatt, Gregory Aldae Hein, Michael Pollack, ” Rob Bisel, Carter Lang, Solána Rowe, ” Daniel Nigro, Billie Eilish O’Connell, Finneas O’Connell SHERMAN, Jon Batiste, Miley Cyrus, Barbie ”, ” isn’t, Gracie Abrams, Fred, Coco Jones, Noah Kahan, Samara Joy, there’s, Mama, It’s, SHERMAN, ” Taylor Swift SHERMAN, Rodrigo, Cyrus, Keem, Kendrick Lamar, Rich, ” Drake, Eryn Allen Kane, Baby Keem, Drake, Mike ’, Andre, Future’s hoarse, Kane’s, Mike, , ” It's, Flash’s, ” Tyler Childers, Luke Combs, Dolly Parton, ” Chris Stapleton SHERMAN, she’s, Doc Watson, She’s, Luke Comb’s, Tracy Chapman, Parton, Combs, Chris Brown, ” Robert Glasper, Alex Isley, ” Coco Jones, There’s, Jones, Justin Timberlake, Bill ”, I’d, ” Ana Bárbara, Lila Downs, ” Flor De Toloache, “ Amor, ” Lupita Infante, America –, Flor de Toloache, Lupita Infante, Pedro Infante, LANDRUM, He’ll, Ana Bárbara, Vincente Hernandez Organizations: ANGELES, Press, Entertainment, SHERMAN, , Recording Academy, Eilish, The Recording Academy, Rockstar, Dallas Cowboys, Washington Commanders, Stapleton, BEST, ICU, De, Regional, Christian, CBS, Paramount Locations: Victoria, Dua Lipa, America, American
Writer Lola Méndez moved to New York City in 2009 to finish her college degree. AdvertisementWhen I moved to New York City from Los Angeles in 2009 to finish my college degree, I was stunned at how much more expensive rent is in New York City and how little you get for the hefty price. I paid rent from scholarship funds, grants, and student loans. I was living in studios in New York, but it wasn't sustainableI paid $1,300 for a tiny studio on 64th and West End in 2009. AdvertisementI thought I had to live in New York to be successful, but it wasn't worth the lack of saving in my 20s.
Persons: Lola Méndez, Méndez, , Louis Vuitton, I've, New York I'm, haven't, Chaing, I'm Organizations: Service, West Hollywood, NYPD Locations: New York City, Los Angeles, West, New York, Lower, Stanton, Ludlow, Manhattan, Uruguay, California, Madrid, Chaing Mai, Thailand, Vietnam, Montevideo, Puerto Vallarta, Mexico
The execution will be the first attempt to use a new execution method since the 1982 introduction of lethal injection, now the most common execution method in the United States. After he is given a chance to make a final statement, the warden, from another room, will activate the nitrogen gas. Three states — Alabama, Mississippi and Oklahoma — have authorized nitrogen hypoxia as an execution method, but no state has attempted to use the untested method until now. They stabbed her — multiple times.”The state has predicted the nitrogen gas will cause unconsciousness within seconds and death within minutes. Much of what is known about death by nitrogen gas comes from industrial accidents or suicide attempts.
Persons: Kenneth Eugene Smith, Smith, , , Jeff Hood, Elizabeth Sennett, Sennett, gurney, Steve Marshall, Liz Sennett, Smith’s, ” Marshall, Charles Sennett Jr, Smith “, Mama, Robin M, Maher, Philip Nitschke, Nitschke, ” Nitschke, Robert Grass, Charles Sennett, John Forrest Parker Organizations: United States, Supreme, U.S, Prosecutors, WAAY, Circuit, Alabama, Associated Press, Veterinary Medical Association, United Nations Human Rights Locations: MONTGOMERY, Ala, Alabama, United, United States, Mississippi, Oklahoma, Colbert County
According to a McKinsey report from 2022 based on a decade of data, role transitions are inherent in labor markets. The generative AI platform dubs itself a "tutor for learners" and an "assistant for teachers." Meanwhile, nonprofit organization All Star Code had a scholar visualize themselves progressing in their tech career over the next decade by creating a 30-second video using generative AI platform Runway. There lies the ultimate caveat in AI-enabled career transitions. Panetta feels like the human role in hiring — regardless of the qualifications of candidates — will play a potentially bigger role in career transitions.
Persons: Yee, Lareina Yee, Karen Panetta, That's, Panetta, Sal Khan, Bill Gates, Khan, , Bias, doesn't Organizations: McKinsey, Strategic, Institute of Electrical, Electronics Engineering, Tufts School of Engineering, Khan Academy, OpenAI Locations: America
Rising geopolitical headwinds and the potential for political turmoil could combine to thwart investors' hopes for the Federal Reserve to enact sharp interest rate cuts this year, according to JPMorgan Chase strategists. Markets have been betting that the Fed likely will start lowering its benchmark short-term borrowing rate by May or even as early as March. JPMorgan's investment team said the calculus could be important for investors as stocks and other asset classes look for direction. In recent days, multiple Fed officials have made remarks insisting that they are in no hurry to start cutting rates. For the full year, traders have gone from a strong chance of six cuts to a coin-flip between five and six.
Persons: Marko Kolanovic, Kolanovic, Raphael Bostic, Christopher Waller, — CNBC's Michael Bloom Organizations: Federal Reserve, Chase, JPMorgan, U.S, Fed, European Central Bank, Atlanta Fed, Federal, Market, Traders, Commerce Department Locations: 1H24
Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.
Persons: , Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America
New beginningChuck Stevens and Ben Di Rienzo bought a home in the town of Vinchiaturo Molise in southern Italy’s Molise, known as the ‘forgotten region.' “For the first couple of months, it felt like we were on vacation,” says Di Rienzo. “Just learning about real Italian life living. “The chefs in the area here really put their heart and soul into things,” says Di Rienzo. “The expectation of getting your house renovated within six months to a year, that’s not going to happen,” says Di Rienzo.
Persons: Charles “ Chuck ” H, Stevens, Berardino, Ben ” Di Rienzo, who’ve, ” Stevens, Di Rienzo, Chuck Stevens, Ben Di Rienzo, Ben DiRienzo, Covid, they’d “, , , Di Rienzo’s, “ Ben, ’ ”, ’ ” Di Rienzo, , ” Di, they’d, they'd, Max, “ We’ve, They’ve, they’ve, , he’s “, Rienzo, Ben DiRienzo “, that’s, It’s, I’m Organizations: CNN, CNN Travel, , US, Locations: Manhattan, New Jersey, “ New York, Italy, Vinchiaturo Molise, Italy’s Molise, Europe, United States, , Italian, Molise, Tuscany, Amalfi Coast, America, New York
Polls indicate New Hampshire offers Haley her best chance for a win, while DeSantis, polling a distant third, is already looking ahead to South Carolina. While Tuesday's primary result is expected to be narrower, the latest polls of likely New Hampshire GOP primary voters show Trump leading Haley by double digits. They have been joined in recent days by a growing number of Trump's one time Republican primary rivals — Nebraska Gov. In New Hampshire, Haley is right: She and Trump are the top two candidates by far in the polls, with DeSantis a distant third. Days away from the New Hampshire primary, DeSantis' campaign is already shifting resources to South Carolina, while still holding some events in New Hampshire.
Persons: Timothy A, Clary, Donald Trump, Trump, Ron DeSantis, Nikki Haley, Haley, Chris Galdieri, State David M, Scanlan, Biden, , Elise Stefanik, Sen, Ted Cruz, Sean Hannity, Doug Burgum, Vivek Ramaswamy, Tim Scott of, Faith Ninivaggi, Reuters Haley, Galdieri, Haley's, Chris Sununu, Scala, Matt McClain, DeSantis, Joe Biden, Nathan Howard Organizations: Getty, New, New Hampshire voters, Republican, Granite State, Florida Gov, United, New Hampshire, West Wing, Saint Anselm College, State, Democratic, Trump, GOP, New Hampshire GOP, Republicans, New York, Fox News, — Nebraska Gov, Tim Scott of South Carolina —, U.S, Omni, Washington Hotel, Resort, Reuters, The, New Hampshire Gov, CNBC, Florida, LaBelle, Washington Post, DeSantis, NBC News, Biden, Community Center Locations: Concord , New Hampshire, New Hampshire, Iowa, United Nations, South Carolina, Portsmouth , New Hampshire, Monday's Iowa, Granite State, New, Texas, Tim Scott of South Carolina, Bretton Woods , New Hampshire, U.S, Florida, The Granite, Granite, Palmetto, Derry, NH, Raleigh , North Carolina
Apple's Vision Pro headset is taking preorders. AdvertisementThe Apple Vision Pro headset for spatial computing (do NOT call it "virtual reality") is almost finally here. Apple Vision Pro 2024 pic.twitter.com/qX9BJM7eDN — Marques Brownlee (@MKBHD) January 16, 2024Wired noticed that this tactic allowed Apple to obscure a sort of not-so-cool aspect of the headset: the bulky battery pack. The Vision Pro battery, which supposedly is pocket-sized. Apple is selling a $49 Belkin case for the battery pack that clips onto your belt.
Persons: Belkin, , qX9BJM7eDN — Marques Brownlee, Apple Lauren Goode, Goode Organizations: Service, Apple, Wired, Vision
Leslie Redmond, 37, moved to Winnipeg, Canada, from Alaska in 2022. There's a really big Ukrainian population and a really big Polish population. So there are a lot of flavors and foods that are really ubiquitous up here that I wouldn't have had in the States. That was the case across Canada — and across the US — but I think that's kind of slowed down a little bit now. I would say Winnipeg is pretty equivalent to Alaska, but Alaska is higher than what you would find in the lower 48.
Persons: Leslie Redmond, , It's, I've, Redmond, I'd, Justin Reitsma, they're, it's Organizations: Service, of Agricultural, Food Sciences, University of Manitoba Locations: Winnipeg, Canada, Alaska, There's, States, North Dakota, Vancouver, Quebec, Yukon, we're, Grand Forks, Target, there's, Manitoba, Redmond, oceanside
Too said groceries, gas, and even movie tickets are less pricey in Las Vegas. Katz, a big sports fan, said some of his favorite things to do in the city are watching the Las Vegas Knights and the Las Vegas Aviators, a Minor League baseball team (an affiliate of Major League Oakland Athletics, who are moving to Las Vegas in the near future ). With the 2024 Super Bowl taking place in Las Vegas, Hamrick argued that the city has recently become a sports "mecca." AdvertisementTo receive that kind of hospitality, you don't have to venture far from the bustling parts of Las Vegas. Too said he lives only three miles from the Strip but feels worlds away from the flashy Las Vegas people envision.
Persons: , Richard Katz, Katz, Vegas , Nevada Allan Baxter, Andrew Arevalo, Bob Hamrick, Michael Too, Arevalo, that's, I've, Paolo Becarelli, Hamrick, Strip Katz, He's, It's Organizations: Service, Business, Sin City —, Las Vegas, Census, Coldwell Banker, Las Vegas Knights, Las Vegas Aviators, Minor League baseball, Major League Oakland Athletics, Strip Locations: Virginia, West, Sacramento, Seattle, Florida, Texas, . Colorado, Reno, California, Las Vegas, Vegas , Nevada, Sin, Vegas, Nevada, Sin City, Texas , Arizona, Washington, Utah, San Francisco, Bay, Redfin, Mount Charleston, Fire, Summerlin, Indiana, Western, it's
I spent two weeks traveling around America's West in a van on a trip that cost $3,200. Instead, I shelled out $3,200 for a two-week van trip. Monica Humphries/Business InsiderThe idea for a van trip has been on my mind for years. The author's rental van outside of the Native Campervan Denver location. Monica Humphries/Business InsiderUltimately, the van trip led to new experiences and ways to travel for a trip I won't forgetI dropped off my van feeling energized.
Persons: , Monica Humphries, I've, Joshua, Ram, Joshua Tree Organizations: Service, Mercedes, Business Locations: America's, Dublin, Ireland, Sin City, Denver , Colorado, Joshua Tree, California, Paris, Airbnbs, Denver, Palm Springs , California, Utah, Joshua Tree , California, Jerome , Arizona, Taos , New Mexico
Selling a house in this market can be tricky with high mortgage interest rates and steep prices. AdvertisementSelling a home for a good price in this housing market can be challenging but not impossible. What's more, mortgage interest rates remain high compared to several years ago but have dropped slightly recently. Buyers can still beat current interest ratesMeanwhile, some potential buyers are finding creative ways to avoid high interest rates and purchase homes. While nothing is guaranteed with interest rates, this is exactly what the Fed is projected to do, holding interest rates steady in the first part of 2024 before starting to lower rates later in the year.
Persons: , Cork, there's, Gary Miller, Austin Organizations: Austin, Service, Cork Gaines, Brigade, National Association of Realtors Locations: Austin
Rony Sebok got a job at Apple straight out of Harvard in 1983 working on the Mac team. She worked with a small team of software engineers under the direction of Steve Jobs. Interviewing for the Mac team didn't follow the traditional approachAt the time, this was a top-secret project. Steve Jobs once came into my cubicle and asked, "Don't you own a pair of blue jeans?" AdvertisementMacintosh software team photographed in January 1984 for a Rolling Stone article.
Persons: Rony Sebok, Steve Jobs, Sebok, Jobs, , Steve, I'd, Bill Gates, alums, Lisa teams, Windham, Steve didn't, Susan Kerr, John Sculley, Lisa, OpenAI Organizations: Apple, Harvard, Mac, Service, Macintosh, Computer Science, Microsoft, IBM, BMW, Windham Hill, Polaroid, Mercury, Getty, HP, Havard Business School, Google Locations: East Coast, West, Cupertino, Hawaii, Apple
Djokovic, Norrie and Fruhvirtova were not prepared to blame the ever-changing types of tennis balls used year-round at the sport's highest levels, but they weren't necessarily ready to absolve that issue completely, either. He said when the ATP asks male players at the end of each season what they think can be improved about the sport, he always mentions the fluctuations among the fuzzy tennis balls. Ten brands of tennis balls — and 19 distinct types — were used across the WTA in 2023. "It does change week by week." One significant difference between tennis and some other sports is that surfaces change, prompting ball changes.
Persons: Novak, Cam Norrie, Brenda Fruhvirtova, Norrie, Fruhvirtova, , Milos Raonic, Taylor Fritz, didn’t, I’ve, ” Fritz, “ It’s, It’s, it’s, Katie Boulter, Carlos Alcaraz, Fritz, Alcaraz, Victoria Azarenka, ” Azarenka, AP Sports Writers John Pye, Andrew Dampf, ___ Organizations: Australian, Melbourne Park, WTA, ATP, , Wimbledon, NHL, Major League Baseball, FIFA, U.S ., U.S, Victoria, AP Sports Writers Locations: California, Melbourne, British, Australia, Turin, Italy
Here's everything we know about the new season. Advertisement'The Last of Us' season 2 will not cover all of the video game sequelMaria (Rutina Wesley), Tommy (Gabriel Luna), Joel (Pedro Pascal), and Ellie (Bella Ramsey) in Jackson in "The Last of Us" season one. Liane Hentscher/HBOWhile "TLOU" season one covered the events of the 2013 game, the second season will not cover all of its 2020 sequel. Fans are concerned Joel could die in season 2Joel (Pedro Pascal) cradles Ellie (Bella Ramsey) in the season one finale of "The Last of Us." But it would be difficult to envision season two straying from Joel's death since it's the key motivation for Ellie's path in the sequel game.
Persons: , Bella Ramsey, Pedro Pascal, Joel, Pascal, Ellie, Ramsey, Nick Offerman, Murray Bartlett, Long, Maria, Rutina Wesley, Tommy, Gabriel Luna, Liane Hentscher, Craig Mazin, Neil Druckmann, Josh Horowitz, Mazin, Kaitlyn Dever, Abby, Gilbert Flores, Dina, Young Mazino, Jesse, Dina's, Elyse Jankowski, Lev, Ian Alexander, Frazer Harrison, Alexander hadn't, HBO hasn't, Will Joel, it's, Francesca Orsi Organizations: Service, HBO, Business, Golden Globes, Getty, Netflix, Jackson, Images, Entertainment Locations: Jackson, Isabela Merced, Vancouver
The most sought-after remote job companies are hiring for isn't in tech, as you might expect. Accountant is the hottest work-from-home job on the market right now. Accountants claimed the top spot in FlexJobs' annual ranking of the top remote jobs in the U.S., thanks to increasing demand for these skilled professionals across several industries, including finance, health care and government. On ZipRecruiter, the share of open accountant roles that were remote jumped from about 8% in 2019 to nearly 20% in 2023, according to data shared with CNBC Make It. "There's a lot of oversight … you can't afford the legal liability of messing this up."
Persons: , Julia Pollak, Pollak Organizations: Accountants, Baby Boomers, CNBC, of Labor Statistics Locations: FlexJobs, U.S
New York CNN —You may think that improving your financial life is simply a matter of taking unpleasant but necessary steps: Curb spending. So make just one financial new year’s resolution for 2024: Figure out what financial well-being means for you. You can avoid the action but you can’t bury something completely when it comes to money,” Agnew said. Spend in ways that are true to who you are, not others’ expectationsBeyond creating a greater sense of security, financial well-being is about using your money as you wish. Figure out your relationship with moneyThere are plenty of other ways to define financial well-being for yourself.
Persons: , Ashley Agnew, you’re, Agnew, you’ll, ” Agnew, , Meghaan, It’s, ” Lurtz, Lurtz, Brad Klontz, Morgan Hounsel, Brian Portnoy Organizations: New, New York CNN, Financial Therapy Association, Centerpoint Advisors Locations: New York, Here’s
SEATTLE (AP) — The last centralized NHL Draft for the foreseeable future is going out with the glitz and bright lights of Vegas. Bettman said contracts still need to be finalized, but the league is excited about the possibilities for the draft. WORLD CUP COMINGThe league is targeting three major international events to work into the calendar over the next several years. Bettman called that the appetizer for the following years — first the Olympics in 2026 and then a full World Cup in 2028. He hopes by the time of the mini-tournament 16 months from now that plans will be in place for the World Cup.
Persons: Gary Bettman, Bettman, ” Bettman, , it’s, they’re, I’m, ___ Organizations: SEATTLE, NHL, league’s, Governors, IIHF, IOC, WORLD CUP, Olympics, CAP, ARIZONA, Arizona Coyotes, Arizona State, Quebec City Locations: Vegas, Las Vegas, United States, Canada, Finland, Sweden, Milan, Phoenix, Arizona, Quebec, Atlanta, Houston, Salt Lake City
Opinion | Nikki Haley’s Views on Social Security
  + stars: | 2023-12-04 | by ( ) www.nytimes.com   time to read: +1 min
The problem of an impending shortfall of the Social Security Trust Fund is in significant part a consequence of our rising economic inequality. High-income people pay a smaller share of their income into Social Security because salary over $160,200 — the so-called “tax max” — is not subject to the Social Security tax. Also, there is no Social Security tax on income from capital (including dividends, interest, capital gains and rents), which tends to go to wealthy people. Consequently, as a larger and larger part of our national income goes to the rich, the share collected by the Social Security tax declines. The solution is not hard to envision: Raise the “tax max” and tax income from capital.
Persons: “ Haley, Paul Krugman, Krugman Organizations: Social Security, Social Security Trust Fund, Social
Saudi Arabia, Russia and other members of OPEC+ pump more than 40% of the world's oil, or some 43 million bpd. Two OPEC+ sources told Reuters a preliminary agreement has been reached for a cut of more than 1 million bpd. This would include Saudi Arabia extending the voluntary cut of 1 million bpd it has had in place since July plus additional contributions from other members, sources said. "It depends on other group participants, could be near or more," the third source said when asked about the possible 1 million bpd cut. The OPEC+ meeting coincides with the opening of the United Nations' COP28 climate summit being hosted by OPEC member the United Arab Emirates.
Persons: Dado Ruvic, Helima Croft, Alex Lawler, Olesya Astakhova, Maha El Dahan, Ahmad Ghaddar, David Goodman, Jason Neely Organizations: REUTERS, OPEC, Reuters, Saudi, Brent, RBC Capital Markets, International Energy Agency, United Nations, United, United Arab Emirates, Thomson Locations: OPEC, MOSCOW, DUBAI, Saudi Arabia, Russia, United Arab
"In a different cycle, when inflation hadn't spiked so much, I think the Fed would have been cutting rates already. "If the real fed funds rate continues to go higher as I expect it will, then you'd want to offset that through rate cuts. And the amount of rate cuts I think they're going to have to do is a relatively large amount." "I think there's a real risk of a hard landing if the Fed doesn't start cutting rates pretty soon," the head of Pershing Square Capital Management added. However, even some of the historically more dovish Fed officials aren't showing their hands on when they think cuts will come.
Persons: Valerie Plesch, Kathy Jones, Charles Schwab, Christopher Waller, Michelle Bowman, Waller, Bowman, Joseph LaVorgna, Donald Trump, Chris Marangi, Bill Ackman, Ackman, David Rubenstein, Raphael Bostic, Thomas Barkin Organizations: Eccles Federal, Bloomberg, Getty, Federal Reserve, Fed, Nikko Securities America, National Economic Council, CME Group, Stocks, Gabelli, Market, Pershing, Capital Management, Atlanta Federal Reserve, Richmond Locations: Washington , DC, Atlanta
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