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The multiplier effect of culture in New York is huge both in economic and human terms. But arts funding does not consistently rise to meet it. From one vantage, the city’s cultural funding can look robust. Over the past decade, the money allocated to the Department of Cultural Affairs has increased considerably, as City Hall officials will point out. And at any rate, between 2023 and 2024, the overall budget decreased by $7 million to $241 million, as the migrant crisis required cuts across municipal divisions.
Persons: Mark Morris’s, Burt Bacharach, Shakespeare, Kathleen Chalfant Organizations: Broadway, Brooklyn Academy of Music, Department of Cultural Affairs, City Locations: New York, America, Forest Hills, Queens
Though municipal bonds generally offer income that's free of federal income taxes – and state taxes if the investor resides in the issuing state – they also come with lower yields compared to other bonds. When it comes to muni bonds, the higher your tax bracket, the more valuable the tax-free income is. A tax-conscious approach to fixed income You don't have to bulk up on municipal bonds to get the best yield for your tax scenario. Municipal bonds are good contenders in taxable brokerage accounts, where investors can benefit from their tax-free income. Some fund families offer "tax-aware strategies" either in mutual funds or ETFs, which can include some exposure to municipal bonds, as well as equities.
Persons: Wells Fargo, aren't, Nisha Patel, That's, Collin Martin, Michael Carbone, it's, Beth Foos Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, SEC, Bond, Corporate Bond, York Life Investments, Schwab Center, Financial Research, Morningstar Locations: Wells Fargo, Chelmsford , Massachusetts
AI has “helped me in my life personally … such as helping me with my resume,” Miller told CNN. I really want to see that happen.”On Tuesday, however, OpenAI told CNN it shut down Miller’s access to the tool that was being used to interact with and persuade voters. “We’ve taken action against these uses of our technology for violating our policies against political campaigning,” an OpenAI spokesperson told CNN. Although the public-facing version of VIC has been removed by OpenAI, Miller said it still works on his own ChatGPT account. OpenAI told CNN it also took action against another candidate in the UK who was using its AI models to help campaign for Parliament.
Persons: CNN — Victor Miller, , ” Miller, , OpenAI, “ We’ve, Chuck Gray, ” Gray, Miller, Gray, Steve Endacott, Steve, Endacott, Jen Golbeck, Golbeck, ” David Karpf, ” Karpf, doesn’t Organizations: CNN, Cheyenne, Neural, College of Information Sciences, University of Maryland, George Washington University Locations: Cheyenne , Wyoming, Wyoming, “ Wyoming, Cheyenne, Slovakia
Today we celebrate Juneteenth, the day when word of the Emancipation Proclamation reached the farthest outpost in America. Many people do not realize that Emancipation did not legally end slavery in the United States, however. Some historians have described this convict leasing system as “worse than slavery,” because there was no incentive to avoid working those people to death. In fact, federal agencies are mandated to purchase goods from federal prisons, just as state or municipal agencies, including public schools and universities, often must consider sourcing from state penitentiaries. Labor that people have no meaningful right to refuse and that is enforced under conditions of total control is, unquestionably, slavery.
Persons: Organizations: Labor Locations: America, United States, Xinjiang, Washington
I'll review a way to play increased electricity use as electric vehicle adoption progresses around the country. Eversource Energy (ES) , a public utility holding company, operates in the electric distribution, electric transmission, natural gas distribution, and water distribution segments. It is involved in transmitting and distributing electricity, solar power facilities, and natural gas distribution. Eversource Energy was incorporated in 1927 and is headquartered in Springfield, Massachusetts. ES 1Y mountain Eversource Energy, 1-year The stock hasn't traded particularly well recently, but that may present an opportunity.
Persons: I've Organizations: California Air Resources Board, Nvidia, Eversource Energy, Utilities, Energy Locations: California, United States, Los Angeles, Connecticut , Massachusetts, New Hampshire, Springfield , Massachusetts
Perched on the Corcovado – a 2,300-foot-high granite outcrop looming above the city – the Cristo Redentor (Christ Redeemer) statue sweeps its arms out in a warm embrace, welcoming visitors to the city of samba. “It is he who finds me when I arrive in Rio.”For over a century, the statue has been a symbol of Rio de Janeiro. Christ Redeemer bags are his top sellers, tied with those sporting the Sugarloaf Mountain. Deemed one of the seven modern wonders of the world, the Christ Redeemer is Rio’s most visited attraction, says tour guide Cristina Arroio. Maybe that’s the ultimate miracle of the Christ Redeemer.
Persons: , Gilson Martins, Michelle Obama, Heitor da Silva Costa, Jesus teetering, Paulo Vidal, it’s, Vidal, Instituto Moreira Salles, Jesus Christ, Da Silva Costa –, , Carlos Oswald, Paul Landowski, Da Silva Costa, Soapstone, Márcia Braga, Work, IPHAN, It’s, Matthew Stockman, Gilson Martins Braga –, , Braga, ” Gilson Martins, , Emmanuele, Tom Jobin, “ Da, O, que lindo, ” Martins, ’ ”, Francesco Perrotta, Lina Bo Bardi, Corcovado, Mauro Pimentel, Cristina Arroio Organizations: CNN, Instituto, Nacional, Historical, Heritage, UNESCO, , Guanabara ”, cariocas, Bosch, Getty Locations: Rio de Janeiro, Rio, Brazil, Calvary, Polish, Latin America, steatite, Minas Gerais, Braga, Ipanema, Guanabara, ” Rio de Janeiro, AFP
“Walt Disney World is inextricably intertwined in the fabric of the state of Florida. And the success of Walt Disney World is the success of Central Florida, and vice versa,” he said. The Disney World resort is currently home to four theme parks and two water parks. It’s been 26 years since Disney has opened a new theme park in Florida,” said Dennis Speigel, owner and founder of International Theme Park Services, a global consultant for theme park projects. Orlando is the Mecca of the theme park industry, and for it to function, Disney and Florida have to function together.”
Persons: Disney, Ron DeSantis, , , Aubrey Jewett, Brian Aungst Jr, Walt, Jeff Vahle, CFTOD, It’s, Dennis Speigel, DeSantis, Bob Chapek, Walt Disney, ” Jewett, Reedy, Jewett, Speigel Organizations: CNN, Disney, Walt Disney, University of Central, Walt Disney World, Walt, World, Park, Universal, Improvement, Locations: Florida, Central Florida, University of Central Florida, Reedy, Disney, Orlando, Mecca
The building was being used by a rival political party, she believes. A few miles east along the border, CNN met several more Mexican families who had been sheltering for days in a tent erected by a local humanitarian group. Intimidation was particularly pervasive in local-level elections, experts told CNN, where races could hand the winners broad control over small communities’ police and fiscal resources. Immigrant rights advocates warn closing the border to asylum seekers endangers vulnerable people and ultimately makes the border less safe. They were treated with respect by the US agents, she told CNN, who swabbed them for DNA – likely to ensure that the children were really hers.
Persons: Norma, Norma doesn’t, Strange, Joe Biden, , Norma Galeana, Carin Zissis, Zissis, “ We’re, Yolanda Sánchez Figueroa, Salvador Guerrero, Andres Manuel Lopez, Lopez, Morena, ” Zissis, Claudia Sheinbaum, Lopez Obrador, Norma’s, , Joe Biden’s, It’s, CNN’s Priscilla Alvarez, Tara John, David Shortell Organizations: Arizona CNN, CNN, Border Patrol, Homeland Security, Americas Society, Legal Clinic, National Guard, AS, Border Locations: Sasabe, Arizona, Mexico City, , Mexico, United States, Cotija, Michoacán, North America, Hermosillo
Muni bond inflows on the rise
  + stars: | 2024-06-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMuni bond inflows on the riseDan Close, head of municipals at Nuveen, joins CNBC's 'The Exchange' to discuss outlooks for municipal bonds, how position in the current rate environment, and more.
Persons: Dan Close Locations: Nuveen
CNN —Thousands of dead fish have blanketed the surface of a lagoon in Mexico’s northern state of Chihuahua, with local officials blaming an intense drought. Chihuahua state has been hit particularly hard with most of its territory engulfed by the most extreme levels of dryness. Mass fish deaths in the area have happened in previous years when the lagoon dried up, stranding fish. A municipal worker spreading quicklime over dead fish to reduce the stench, at the dry bed of the Bustillos Lagoon on June 7, 2024. At the lagoon, local authorities are racing to cover the dead fish with quicklime, concerned their rapid decomposition under the baking sun could endanger public health by attracting insects and spreading disease.
Persons: Irma de la Pena, , De la Pena, Jose Luis Gonzalez, , Jesus Maria Palacios, Saul Sausameda Organizations: CNN, Ecology Department, Reuters, Reuters Livestock Locations: Chihuahua, Anahuac, Mexico, Cuauhtemoc
Generating income with dividend stocks Dividend stocks have long been a staple of income investors' portfolios. Municipal bonds offer income that's free of federal tax, however. These names trade on exchanges like stocks, and they can offer dividend yields upward of 6%. Options strategies to create income Derivative income funds , such as the JPMorgan Equity Premium Income ETF (JEPI), gathered some $22 billion in 2023, according to Morningstar. Further, consider comparison shopping, as all "derivative income" funds have their own quirks and differences in strategies could affect their risk/return profile.
Persons: Janus Henderson, Walt Disney's, Amber Milam, Jefferies, It's, Savita Subramanian, Subramanian, Russell, Louis, Morningstar, Mike Mulach, Rick Rieder, he'd, Kathleen McNamara, there's, , Bill Gross, JEPI, Cash, Ashton Lawrence Organizations: Federal Reserve, Meta, Mobile, Bank of America, IBM, . Investment, Fitch, Credit, nab, ICE, Federal Reserve Bank of St, Louis Fed, UBS, UBS Wealth Management, York Life Investments, , JPMorgan, Mariner Wealth Advisors Locations: U.S, Greenville , South Carolina
Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. United is working with Archer on what it would look like to enter the electric aircraft into service. Archer has partnered with automaker Stellantis to produce hundreds of the electric air taxis. On Tuesday, Joby said it plans to acquire the autonomy division of autonomous aviation company Xwing.
Persons: Archer, Adam Goldstein, Goldstein, couldn't, Andrew Chang, Joby Organizations: Archer Aviation, Salinas Municipal Airport, Federal Aviation Administration, United Airlines, CNBC, FAA, Joby Aviation, U.S . Air Force, Delta Air Lines Locations: Salinas, Salinas , California, Manhattan, Newark , New Jersey
A municipal candidate for the far-right Alternative for Germany party was slashed with a box cutter in the western German city of Mannheim, the authorities said on Wednesday. While the police said that the incident on Tuesday night did not appear to be politically motivated, it came four days after a knife attack on members of an anti-Islam party in the same city, which raised concerns about more violence in the prelude to Sunday’s vote in Germany for the European Parliament. The attack on Tuesday occurred after the candidate, Heinrich Koch, who is running for municipal office in Mannheim, noticed a man “taking down and slashing” Alternative for Germany campaign posters, according to Emil Sänze, a party spokesman in the state of Baden-Württemberg, which includes Mannheim. After Mr. Koch confronted him, the man attacked Mr. Koch with a box cutter, Mr. Sänze said. Mr. Koch was taken to a hospital for stitches on Tuesday night but is expected to make a full recovery, according to Mr. Sänze.
Persons: Heinrich Koch, Emil Sänze, Koch, Mr, Sänze Organizations: Parliament Locations: Germany, German, Mannheim, Baden
CNN —Sales of new electric vehicles have started to slow, but the opposite is happening with used EVs. The used car sales website Carvana saw its used EV sales more than double since last year. While increases in used EV sales are huge, they still make up a small portion of overall used vehicle sales. Used EVs still cost more, on average, than used gas-powered vehicles, but they cost a lot less than new EVs. While prices for new EVs average around $63,000, prices for used ones average around $36,000, according to Cars.com.
Persons: EVs, Carvana, wasn’t, Price, Cars.com, Truecar, , who’ve, , Matt Jones, ” Manheim, “ We’ve, it’s, Grace Huang, we’ve, Tesla, Jones, Rebecca Lindland, Courtney Vaughn, “ I’m, Lindland Organizations: CNN —, EV, TrueCar, Cox Automotive, Cox, Cars.com, Chevrolet, Hyundai, Hyundai Kona EV, US Department of Locations: Georgia, New York, California,
Mexico's drug cartels and gangs appear to be playing a wider role than before in Sunday's elections that will determine the presidency, nine governorships and about 19,000 mayorships and other local posts. The country's powerful drug cartels have long staged targeted assassinations of mayoral and other local candidates who threaten their control. Security analyst David Saucedo says it's likely some drug gangs will try to force voters to cast ballots for their favored candidates. "It it is reasonable to assume that the cartels will mobilize their support bases during Sunday's elections," Saucedo said. While they did not say who was behind the attack, the town is completely dominated by two warring drug cartels, Jalisco and Sinaloa.
Persons: David Saucedo, it's, Saucedo, Guerrero, Angélica Chávez, Chávez Organizations: Michoacan Civil Guard Locations: Michoacan, Morelia, Mexico, Chicomuselo, Chiapas, Jalisco, Sinaloa, La Concordia, Cotija
If true, the loss of a Polish shopping center by means of Russian arson would be shocking on its own. As NATO advances toward the July summit, it's become clear that more comprehensive discussions on addressing the Russian sabotage campaign must take place. Some of the earliest identified acts of Russian sabotage occurred in 2014 at ammunition depots in the Czech Republic killing two and causing $42.5 million in damage. Bulgaria has played a crucial role in supplying ammunition and shells to Ukrainian forces, especially in the early stages of the war. Matthias Merz/picture alliance via Getty ImagesWeapons and training facilities aiding Ukrainian forces are frequent targets.
Persons: , Donald Tusk, MAXIM SHEMETOV, Kaja Kallas, it's, Hannah Beier, Ozempic, Abrams, Matthias Merz, Russia, John MacDougall, Daniel Kochis Organizations: Service, Business, Reuters Estonia's, West, NATO, Scranton Army, BAE Systems, Denmark's Novo Nordisk, BAE, US Army, Getty Images, Energy, NATO Pipeline System, Deutsche Bahn, Investigators, DB, Getty, Kremlin, Ukraine, Center, Hudson Institute, United Locations: Polish, Poland, Wroclaw, Lithuania, Russia, Moscow, Russian, Estonia, Czech Republic, Vrbětice, Bulgaria, Scranton, Pennsylvania, United Kingdom, Ukrainian, Ukraine, Norwegian, Baltic, Bellheim, Germany, Czech, Europe, Berlin, France, Washington, Eurasia, United States, NATO
At the dawn of South Africa’s democracy after the fall of the racist apartheid government, millions lined up before sunrise to cast their ballots in the country’s first free and fair election in 1994. South Africa is now heading into a pivotal election on Wednesday, in which voters will determine which party — or alliance — will pick the president. This downward curve has mirrored the support for South Africa’s governing party, the African National Congress, or A.N.C., which was a liberation movement before becoming a political machine. A new generation of voters do not have the lived experience of apartheid nor the emotional connection that their parents and grandparents had to the party. as a governing party is all young people know, and they blame it for their joblessness, rampant crime and an economy blighted by electricity blackouts.
Persons: Nelson Mandela Organizations: South, African National Congress Locations: South Africa
Responding to China’s surging exports and extensive investments in new factories, the International Monetary Fund made sizable increases on Wednesday in how much it believes China’s economy will grow this year and next. now estimates that China will grow 5 percent this year and 4.5 percent in 2025. That is 0.4 percentage points more for each year compared with the fund’s predictions just six weeks ago. China’s gross domestic output expanded 5.2 percent last year as the economy rebounded following nearly three years of stringent pandemic policies that included numerous municipal lockdowns and mandatory quarantines. Many economists, including at the I.M.F., had anticipated that growth would falter this year because of a severe contraction of China’s housing market and a slowdown in domestic spending.
Organizations: International Monetary Fund Locations: China
New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.
Persons: , That’s, ” Gary Gensler, , Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI
“I woke up, I said, ‘I wonder, will it be hostile or will it be friendly?’” Mr. Trump said. It was a love fest.”As is often the case during Mr. Trump's speeches, the truth was a bit more complex. But Mr. Trump observed that Mr. Levitt had exited his business too early and was unable to make a comeback when he wanted to years later. The reason, Mr. Trump said, was that he had squandered his momentum. “You have to always keep moving forward,” Mr. Trump said.
Persons: Miles, Donald J, Trump, , , , Biden, Hiroko Masuike, Trump’s, , Unprompted, Mr, Indiana Mitchell, Rafael Brito, ” Mr, Brito, Melvin Howard, William Levitt, Levitt, ” Jeffery C, Mays Organizations: New York State, Trump, South Bronx . Credit, New York Times, Dominican, Queens, New York Police Department Locations: Bronx, New York, York City, Crotona, Florida, “ New York, South Bronx, United States, Dominican Republic, , Central Park, Long
October, a speech-language pathologist for New York City Public Schools, started her journey toward financial independence a few years ago. October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. Some millennials who successfully achieved financial independence told BI that a traditional retirement is overrated. Advertisement"The whole time I've been thinking in terms of my financial independence as what I call single-player mode. She sees financial independence as an extension of her drive to fulfill passion projects.
Persons: , Shelly, she'll, she's, She's, millennials, They're, Scott Rieckens, Millennials, Oz Chen, he's, Oz Chen He's, hasn't, I'm, Chen, Gabriela Ariza, Ariza, David, Jill Pawley, Jilly Pawley, they'll, they've, It's, Jill Organizations: Service, New York City Public Schools, Business, Neighborhood Assistance Corporation of America Locations: Yonkers, New York City, Los Angeles, Illinois, Chicago, Rockford, Haiti, Michigan
Muni bonds are beloved by wealthy investors because they offer income that's free of federal taxes. Muni bond ETFs and mutual funds, meanwhile, don't have a definite maturity date and their price can fluctuate while the investor is holding them. Liquidity needs are also a major factor, with individual bonds potentially being hard to sell if an investor has a cash need. Since these funds offer a fixed number of shares, they trade at a discount or premium to their net asset value. Some of these funds hold municipal bonds and are trading at sharp discounts to their net asset value, potentially making them an attractive purchase.
Persons: Kathleen McNamara, there's, muni, he'll, Beth Foos, James Ritzema, Baird, Jon Browne Organizations: Federal Reserve, UBS, tradeoffs Investors, SEC, Investors, Morningstar, RiverNorth Locations: Americas,
The state’s highly decentralized system of administering voting means that “Michigan has 1,500 elections every big election day,” said Kyle Whitney, the city clerk of Marquette in the state’s Upper Peninsula. ‘We’re all beginners’The new rules in Michigan flow from a constitutional amendment that state voters approved by a wide margin in 2022 that dramatically expanded access to voting. Miller was elected to succeed the previous, term-limited clerk and is overseeing her first presidential election. Deborah Pellow, the part-time clerk of rural Tilden Township in the Upper Peninsula, is also overseeing her first presidential election this year. The next big test for Michigan comes in August, when voters cast primary ballots for congressional, state and local offices.
Persons: Michael Siegrist, Joe Biden, Donald Trump, tabulators, Biden, , Kyle Whitney, ” Whitney, Brennan, , , ” Lori Miller, Miller, “ It’s, Deborah Pellow, Pellow, Adam Wit, , Shira Roza, Carlos Osorio, Angela Benander, Joycelyn Benson, Jacqueline Beaudry, ” Benander, ‘ We’re Organizations: CNN, Ferrari, Republican, Trump, Brennan Center for Justice, Wolverine State, Biden’s, Michigan’s, Democratic, Michigan Association of Municipal, Michigan Locations: Michigan, Canton Township, Antrim County, Marquette, Wolverine, Livonia, Detroit, Wayne County, Tilden Township, Canton, Harrison, Warren , Michigan, Ann Arbor City, Tilden
Creating an income-producing portfolio
  + stars: | 2024-05-20 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +7 min
A lot goes into creating and managing an income-producing portfolio that works for you. Knowing your expenses will give you a good sense of the income you’ll need. Ways to generate incomeTake the income you think you’ll need and subtract from that the income you expect. For example, if you need $65,000 a year but will only bring in $40,000, you’ll need to generate the other $25,000. • For money you’ll need in three to five years, use short-term corporate bonds as well as longer-term CDs.
Persons: it’s, Will, David Seufer, you’ll, Marguerita Cheng, , David Edmisten, Edmisten, Cheng, ” Seufer, , ” Edmisten, Seufer, they’re, ” Cheng Organizations: New, New York CNN, Gravitas, Social Security, Blue, ” Capital, Social Locations: New York
CNN —Six people were killed and two injured by gunfire at a political campaign event in Chiapas, Mexico on Thursday, according to a statement from the state Attorney General’s Office. A preliminary investigation found that the deaths occurred after a confrontation between armed civilians during an electoral campaign event that was attended by a candidate for the municipal presidency of La Concordia for the Chiapas Popular Party, Lucero López Maza. However political violence has spiked across the country as Mexico heads toward its largest election in history on June 2. The Attorney General’s Office said three of the victims, one of whom was a minor, were women, and three men. Earlier this week, eleven people were killed in mass shootings in the neighboring municipality of Chicomuselo, the state prosecutor said.
Persons: Lucero López Maza, López Maza, General’s Organizations: CNN, General’s, La Concordia, Chiapas Popular Party, Sinaloa Cartel, Jalisco New Locations: Chiapas, Mexico, Guatemala, Chicomuselo, Sinaloa, Jalisco
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