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☆ Jamie Dimon says 'the worst outcome is stagflation,' a scenario he's not taking off the table
▼ + stars: | 2024-09-10 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024. JPMorgan Chase CEO Jamie Dimon said Tuesday he wouldn't rule out stagflation, even with greater confidence recently that inflation is coming off its highs. "I would say the worst outcome is stagflation — recession, higher inflation," Dimon said at a fall conference from the Council of Institutional Investors in Brooklyn, New York. "And by the way, I wouldn't take it off the table." In August, he said the odds of a "soft landing" were around 35% to 40%, implying a recession is the more likely outcome.

Persons: Jamie Dimon, JPMorgan Chase, Dimon Organizations: JPMorgan Chase & Co, Economic, of New, JPMorgan, of Institutional Investors Locations: of New York, Manhattan, New York City, U.S, Brooklyn , New York

☆ Clean energy sector looks to create even more jobs after the election — regardless of who wins
▼ + stars: | 2024-09-10 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +5 min

While job growth in the sector faces uncertainty after the election, industry watchers say the future of energy production and consumption is always changing. The IRA is projected to generate more than 300,000 jobs annually for new energy project construction and about 100,000 permanent jobs each year, according to EESI. The rate was more than double the growth for the rest of the energy sector and the overall U.S. economy, according to the newly released 2024 U.S. Energy and Employment Report. Recent data from the Department of Energy showed clean energy employment increased by 142,000 jobs last year, accounting for more than half of new energy sector jobs. One sector that faces particular uncertainty after the election is clean energy, which has received a boost from the Biden administration but faced skepticism from Trump.

Persons: — it's, it's, Daniel Bresette, there's, Biden, Kamala Harris, Donald Trump, Nicole Bulgarino, Caroline Leilani Stevenson, Stevenson, Harris, Trump, Joe Biden Organizations: Energy, Environmental, Energy Study Institute, . Energy, Science, Department of Energy, Trump, Ameresco, Department of Defense, Green, Deal, CNN, White, Green New, Economic, of New Locations: U.S, Europe, Ameresco, Honolulu, Maui, New York, of New York

☆ Investors are 'dramatically overestimating' an oil glut, Carlyle's Jeff Currie says
▼ + stars: | 2024-09-10 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

SINGAPORE — Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle. China's crude oil imports in 2023 had notched a record high. China's oil demand has been declining on the back of a slump in industrial inputs, according the International Energy Agency. On the supply side, black oil production in the U.S., one of the world's top crude oil producers, has been "flat" this year, Currie said. Black oils include crude oil, fuel oil, furnace oil, asphalt and tar.

Persons: Currie, Jeff Currie, Carlyle, I've, Energean Organizations: Asia Pacific Petroleum Conference, SINGAPORE —, International Energy Agency, Reuters Locations: Stanton , Texas, Singapore, SINGAPORE, APPEC, U.S, Egypt, Italy, Croatia

☆ Nearly a million more children fell into poverty last year. Both presidential campaigns want to give parents money to fix that.
▼ + stars: | 2024-09-10 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewMore children fell into poverty last year — and it could signal a major issue for both candidates as the presidential election heats up. But child poverty rose faster than that, from 12.4% to 13.7%. "The effectiveness of such a policy is evident when one considers the effects of the Child Tax Credit." And with child poverty only worsening, what candidates can deliver for parents might be particularly salient. Is the rise in child poverty and lack of assistance impacting your family?

Persons: —, Steven Durlauf, Joe Biden's, Kamala Harris, Donald Trump's, Joseph Costello, Harris, Walz, JD Vance, Anna Kelly, Kelly, Trump, Adam Ruben, Josh Bivens, they'd Organizations: Service, Business, The University of Chicago, Stone Center for Research, Harris School of Public, Child Tax, Pew Research Center, Economic Security, Census, Economic Policy Institute, jkaplan Locations: U.S

☆ The first ultra-low-cost airline using the Airbus A321XLR hopes passengers will choose to 'suffer the pain' of no-frills 7-hour flights
▼ + stars: | 2024-09-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Wizz Air announced its first A321XLR route will be about seven hours between London and Saudi Arabia. "You kind of suffer the pain, if you wish, for the economic benefits," said Wizz's CEO. Go to newsletter preferences Thanks for signing up! AdvertisementAs it introduces longer flights, ultra-low-cost carrier Wizz Air isn't planning any upgrades to its no-frills offering — hoping passengers will "suffer the pain" for cheaper tickets. Wizz announced Tuesday that its first Airbus A321XLR route will be between London Gatwick and Jeddah in Saudi Arabia, starting next March.

Persons: —, Wizz Organizations: Wizz Air, Service, Wizz, Airbus, London, Business Locations: London, Saudi Arabia, Saudi, Jeddah, London Gatwick

☆ It's not time to shift into defensive stocks just yet, New York Life's Goodwin says
▼ + stars: | 2024-09-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Lauren Goodwin, economist and chief market strategist at New York Life Investments, told CNBC that winning stocks are unlikely to fit neatly within defensive sectors at this point in the economic cycle. Another thing for investors to consider is that some of the traditional defensive sectors have already been on an upswing. Meanwhile, the Consumer Staples Select Sector SPDR Fund (XLP) is up 9%, and Health Care Select Sector SPDR Fund (XLV) is up more than 6%. XLU mountain 2024-07-01 Defensive stocks like consumer staples have performed well in the third quarter. Instead of moving to defensive stocks, investors should focus on looking for ways to lock in higher yields in fixed income before the Federal Reserve begins cutting rates, said Goodwin.

Persons: Lauren Goodwin, Goodwin Organizations: New York Life Investments, CNBC, Consumer, Federal Reserve Locations: U.S

☆ Harris braces for the most critical moment of her political career at debate with Trump
▼ + stars: | 2024-09-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Kamala Harris’ joyful campaign will Tuesday be hit by the blunt force of reality — a debate with Donald Trump — the most menacing political foe of modern times. The vice president transformed the 2024 election after President Joe Biden’s abject debate showing against Trump on CNN in June led him to end his reelection bid. Haris will be ‘fully prepared’But to succeed in the debate, the vice president faces three difficult tasks. The conceit, however, allowed the Trump campaign to argue she’d return to her original stance if she won power. “I believe the vice president will be fully prepared to do that.”

Persons: CNN — Kamala Harris, Donald Trump, Joe Biden’s, Harris, Mike Pence, Trump, ” Harris, Hillary Clinton, Biden, Joe Biden, Kamala Harris, Brendan Smialowski, “, ”, who’s, Justin Sullivan, Haris, Obama, Rickey Smiley, ” — Harris, parry, Dana Bash, she’d, Vincent Alban, “ I’m, he’s, Anita Dunn, ” Dunn, CNN’s Erin Burnett Organizations: CNN, Trump, Democratic, South, Prince George's Community College, New York Times, Siena, Republican, University of Las Vegas Thomas, Mack Center, Bidenomics Locations: Philadelphia, Largo , Maryland, AFP, Las Vegas, Trump’s, Trump, Pennsylvania, La Crosse , Wisconsin

The U.S.-recognized winner of Venezuela’s presidential election on July 28, Edmundo González Urrutia, fled to Spain as President Nicolás Maduro heightened his repression campaign and issued a warrant for his arrest. As human rights abuses and the dismantling of democratic institutions intensified under Maduro, President Donald Trump followed with “maximum pressure” sanctions in an attempt to squeeze him out of office. A Venezuela election body stacked with Maduro backers has declared Maduro the winner of the country’s July 28 election but refused to release vote tallies. Biden resumed deportations of Venezuelans as a condition of the election negotiations with Maduro. “If you want to do something about migration, what you should not do is help make things worse for Venezuelans,” Rodriguez said.

Persons: Donald Trump, Kamala Harris, Trump, Edmundo González Urrutia, Nicolás Maduro, Fernando Rodriguez, Josef Korbel, “, ” Rodriguez, Maduro, George W, Bush, Joe Biden, González, ”, Oliver Stunkel, ” Stunkel, Harris, Jason Marczak, Biden, Rodriguez, Dislodging Organizations: Josef, Josef Korbel School of International Studies, Trump, Chevron, U.S, Carnegie Endowment, International Peace, Carnegie, Northern, Atlantic Council Latin America, Customs, Maduro, NBC Locations: U.S, Spain, Denver , Colorado, Cuba, Venezuela, “, United States, El Salvador, Guatemala, Honduras, Mexico

☆ Trump and Biden agree: The US should finally start a sovereign wealth fund
▼ + stars: | 2024-09-08 | by ( Lakshmi Varanasi | Katie Balevic | ) www.businessinsider.com time to read: +5 min

So it is noteworthy that Democratic and Republican leaders both appear to want to establish a sovereign wealth fund to help the United States pay for stuff. Saudi Arabia's Public Investment Fund, which manages about $925 billion in assets, reported a $36.8 billion profit for 2023, according to Reuters. This isn't the first time Washington has toyed with the idea of a sovereign wealth fund. Last March, a group of bipartisan lawmakers led by Sen. Angus King and Sen. Bill Cassidy began discussing a sovereign wealth fund to pay for Social Security. The White House's interest in a sovereign wealth fund stems partly from its desire to compete with China, which has multiple state-owned funds itself.

Persons: —, Joe Biden, Jake Sullivan, Daleep Singh, Biden, Donald Trump, LIV Golf, Sen, Angus King, Bill Cassidy, Mitt Romney, John Paulson, Larry Summers Organizations: Service, Democratic, Republican, National, Bloomberg, Business, White, Economic, of New, Fund, Reuters, Norges Bank Investment Management, Saudi Arabia's Public Investment Fund, Blackstone, LIV, Social Security, America, Bloomberg Television Locations: United States, of New York, Saudi Arabia, Norway, Norway's, PIF, Heathrow, American, Washington, China

☆ US employers have good reasons not to hire more workers now
▼ + stars: | 2024-09-08 | by ( Bryan Mena | Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That’s because employers might be putting some of their hiring plans on hold — and for good reason. Businesses consider many factors when deciding to hire, but across a wide spectrum of industries, the economic outlook carries always great deal of weight. Both those factors are prompting employers to think twice about hiring more workers now, according to economists and recent comments from businesses around the country. But she’s proposing raising the corporate tax rate to 28%. So when interest rates are as elevated as they are right now, monthly debt payments could be too costly for many firms.

Persons: there’s, ” Kathy Bostjancic, Reserve Banks, Kamala Harris, Donald Trump, Trump, Harris, ”, Sean Snaith, Julia Pollak, ZipRecruiter’s, ” Pollak, “ It’s, Pollak Organizations: CNN, Labor Department, Federal Reserve, Nationwide, “, Reserve, Trump, America, Economic, of New, Institute for Economic, University of Central, Fed, Treasury Locations: China, of New York, University of Central Florida

☆ Frequent flyer programs: The most profitable part of the airline industry
▼ + stars: | 2024-09-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

That’s because frequent flyer programs have become a crucial part of the airline industry’s profitability. The typical airline passenger probably never thinks about the economics of frequent flyer programs, but the programs have become crucial for airlines to generate the profits needed to stay afloat. United reported a mere $3.2 billion on its other operating line that came primarily on payments to its frequent flyer program. “The airlines’ frequent flyer programs are their lifeblood; they’re the reason the airlines are in business,” said Zach Griff, senior aviation reporter for The Points Guy, a travel site that closely follows the programs. But it’s probably inaccurate to say frequent flyer programs are more valuable than the airlines themselves since actual flights give the programs their intrinsic value, said Andrew Didora, airline analyst with Bank of America.

Persons: cardholders, ”, Zach Griff, Tom Fitzgerald, TD Cowen, “, it’s, Pete Buttigieg, Scott Kirby, Griff, Guy, Andrew Didora, Didora, “ They’re, ” Didora Organizations: New, New York CNN, Delta Air Lines, American Express, American Airlines, Delta, Department of Transportation, United, Airlines, America, Bank of America Locations: New York

☆ Europe's economy survived 'terrible prophecies' but must now tackle trade with China: EU's Gentiloni
▼ + stars: | 2024-09-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.

Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, —, Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy

☆ Hedge fund turned to a wargame to plan for a Chinese invasion of Taiwan
▼ + stars: | 2024-09-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Related storiesIn the second phase of the game, soon after the Chinese invasion began, US forces were said to have engaged and stopped the Chinese amphibious assault, though China continued to bombard Taiwan. Daniel Ceng/Anadolu via Getty ImagesThis caught the hedge fund players by surprise: they had assumed EU sanctions were unlikely because of the depth of China-Europe trade, which reached $815 billion annually in 2023. The hedge fund "agreed that any room for avoiding a total divestment from China and the South China Sea was now completely lost, and market re-entry was probably many years away." The hedge fund responded by choosing to invest heavily in semiconductors manufactured in regions not affected by the war. "This would provide potential opportunities for new players to emerge in the Global South, particularly if loans can be collateralized," Knightsbridge noted.

Persons: Finley Grimble, liquidating, KSG, Daniel Ceng, Knightsbridge, Grimble, Michael Peck Organizations: Service, Business, Knightsbridge Strategic, Getty, Treasury, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: British, China, Taiwan, South China, Europe, South America, Japan, South Korea, Australia, Anadolu, South, Ukraine, Africa, East, Southeast Asia, Zimbabwe, Forbes

According to the Bureau of Labor Statistics, the share of Americans who were absent from work because of child care difficulties matched the all-time record for August. At the same time, employment in child care services has not been nearly enough to match the demand, according to Julia Pollak, chief economist at ZipRecruiter, who highlighted the statistic in a note following Friday’s job report. The issue largely stems from the havoc created by the pandemic, which prompted many child care facilities to shut down, Pollak said. Consumer payments for child care are up at least 32% since 2019, a recent Bank of America study found. Child care advocates say that almost 10% of the state’s day care sites or home-based programs have shuttered since the pandemic.

Persons: Donald Trump, Sen, JD Vance, Vance, Kamala Harris, Julia Pollak, Natalia Lebedinskaia, ” Pollak, Pollak, “, ”, Trump, Ohio, Charlie Kirk, he’d, Harris, ” Vance, Tim Walz, Hannah Anderson, Kirk, Vance “, ” Anderson Organizations: Bureau of Labor Statistics, GOP, Child Care, NBC News, of America, BLS, Economic, of New, Minnesota Gov, Economic Policy Institute Locations: Ohio, of New York, United States, Georgia

☆ Bears are eager to front-run a recession that has not materialized
▼ + stars: | 2024-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Let's front-run the September-October weakness Another chunk of investors is equally pessimistic, but for a different reason. 2) Corporate buybacks, which have been exceptionally strong this year — likely a record for the S & P 500 — will likely slow soon because corporations will be entering blackout periods for several weeks heading into earnings. The S & P 500 is less than 3% from its historic high. The last time the S & P 500 had a 10% correction was July 31 to Oct. 27, 2023 (10.3% drop). That's what happens with high valuations and a slower economy.

Persons: payrolls, It's, Goldman Sachs, nonfarm payrolls Organizations: Traders, Citi, Nvidia Locations: factoids

☆ If elected, Trump plans to ban mortgages for undocumented immigrants
▼ + stars: | 2024-09-06 | by ( Tami Luhby | ) edition.cnn.com time to read: +2 min

CNN —Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday. Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but undocumented immigrants only make up a tiny portion of the mortgage market. It’s often very difficult for undocumented immigrants to obtain home loans, even though the USA Patriot Act of 2021 allowed banks to accept ITINs as a form of identification. He also said falling interest rates will send mortgage rates down to 3% or even lower, which will make financing less expensive for homebuyers. Trump’s broader views on undocumented immigrants — and his insistence that he would deport millions of them — could also hamper the push to lower home prices.

Persons: Donald Trump, Trump, — Organizations: CNN, Economic, of New, Urban Institute, Social Security, USA Locations: of New York

☆ The Cowboys are worth $11 billion. Here's how Dallas went from losing $1 million a month to topping the NFL in value
▼ + stars: | 2024-09-05 | by ( Michael Ozanian | ) www.cnbc.com time to read: +5 min

watch nowWhen Jerry Jones plunked down $150 million to buy the Dallas Cowboys in 1989, the team was losing $1 million a month, according to Jones. The Cowboys are the most profitable in the NFL, posting EBITDA of $550 million last season, $300 million more than the New England Patriots, the second-most profitable NFL team, according to CNBC's list. In 1995, Jones signed a 10-year, $40 million deal with Pepsi-Cola and made a $2.5 million a year, 10-year deal with Nike. The value of the Cowboys' sponsorship deals has ballooned over the years. But there is no doubt he created the economic blueprint for an NFL team.

Persons: Jerry Jones plunked, Jones, DaRon Bland, Ron Jenkins, Tom Landry, Jimmy Johnson, Herschel Walker, Emmitt Smith, Darren Woodson, Barry Switzer, Jason Robins, Ryan Kang, Mike Tyson Organizations: Dallas Cowboys, Texas, Cowboys, National Football League, Los Angeles Rams, NFL, New England Patriots, Washington, T, Arkansas, CNBC, American Express, Pepsi, —, Visa, Cola, Nike, NFL Properties, The Cowboys, Molson Coors, The Dallas Cowboys, Seattle Seahawks, AT, Super, Big, Professional Bull Riders, & $ Locations: Arlington , Texas, Texas, Arlington

☆ Watch: Donald Trump delivers remarks at the Economic Club of New York
▼ + stars: | 2024-09-05 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 12:00 p.m. Please refresh the page if you do not see a player above at that time.] Former President Donald Trump is addressing the Economic Club of New York as he sharpens his policy pitch in the final months of the 2024 presidential election. The Republican nominee's remarks come after a series of economic policy proposals from his opponent, Vice President Kamala Harris.

Persons: Donald Trump, Republican nominee's, Kamala Harris Organizations: Economic, of New, Republican Locations: of New York

☆ Trump adopts Elon Musk plan for government reform, lays out economic blueprint ahead of debate with Harris
▼ + stars: | 2024-09-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Former President Donald Trump and GOP Presidential Nominee speaking at the New York Economic Club in New York on Sept. 5, 2024. He added that Musk could be a "good one" to lead the commission "if he has the time." Hughes added that details on how the efficiency commission would be staffed and operated are yet to come. But Musk has repeatedly raised his hand to helm such a commission: "I look forward to serving America if the opportunity arises. The government efficiency commission plan also gives Trump a concrete proposal to attach to his attacks on what he sees as frivolous spending in the Biden-Harris administration.

Persons: Donald Trump, Elon, Harris, Trump, Brian Hughes, Hughes, Musk Organizations: New York Economic, Tesla, Biden, Economic, of New, Trump Locations: New York, of New York, America

☆ Sports gambling is bigger than ever. It's also gotten incredibly weird.
▼ + stars: | 2024-09-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

I live in the great state of New York, where online sports gambling has been legal since 2022. Different state, different gambling rulesMy trash-chute gambling pilgrimage is specific to me, but it represents one of the many quirks of the legalized gambling industry. When you're in New York, you're not allowed to bet on in-state colleges. Leagues love gambling, until they don'tBut what makes this new era of sports gambling particularly confusing is the relationship between sportsbooks and the leagues they're setting lines for. Yet despite all the promotion (and sponsorship money) touting sports gambling, athletes betting on their own games is still very much banned.

Persons: —, it's, York's, Pete Rose, LeBron James, Connor McDavid, Jayden Daniels, Malik Nabers Organizations: Service, Business, Syracuse University, Leagues, NFL, NBA, MLB, NHL, sportsbooks, Sports, ESPN, ESPN Bet Locations: New York, Connecticut, Illinois, sportsbooks

☆ This week could shift the focus of a key narrative for Harris and Trump
▼ + stars: | 2024-09-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Those two events are the kind of thing that, in normal times, are tracked mostly by economists and Wall Street types. For former President Donald Trump and the Republicans, the narrative is simple: Anything bad you’re feeling about inflation or the job market? Harris entered the race trailing Trump on a range of issues, including the economy. If that were the whole story, Trump might have a harder time disparaging Harris’ and President Joe Biden’s economic record. If the data doesn’t behave, however, then jobs — not inflation — may become the key economic narrative that Harris and Trump will start talking about in their stump speeches.

Persons: CNN Business ’, New York CNN —, we’re, pollsters, Donald Trump, Kamala Harris, Harris, Price, Trump, Harris ’, Joe Biden’s, it’s, ”, Aaron Sojourner, Heidi Shierholz, Biden, — Organizations: CNN Business, New York CNN, Federal Reserve, Republicans, Biden, Democratic, Trump, July’s, Fed, WE Upjohn, Employment Research, Economic Policy Institute, ”, of Labor Statistics Locations: New York, Washington

☆ The US Air Force's potential shift to adaptable 'light fighters' to solve budget woes is more complicated than it seems
▼ + stars: | 2024-09-03 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +32 min

US Air Force photo illustration by Staff Sgt. The Air Force needs new missiles, new bombers, and new fighters — but is struggling to pay for them allThe B-21 Raider in flight at Edwards Air Force Base, California. Cultural inertia in the fighter businessUS Air Force fighter aircraft fly in formation. A rendering of a future crewed next-generation air dominance aircraft by the US Air Force Research Laboratory. Nonetheless, for a cash-strapped Air Force, this would be a significant challenge.

Persons: David Allvin, Parth Satam, Allvin, Madeline Herzog, that's, it's, Will Roper, I'm, Charles, CQ, Brown, Preston Cherry, America's, Lockheed Martin, Northrop Grumman, Marine Corps Lockheed Martin, Peter Nicholls, —, Danielle Purnell, Frank Kendall, Tom Williams, Will Roper's, Kendall —, I've, Kendall, there's, Northrop Grumman's, Roper, Giancarlo Casem, today's, they've, wouldn't, John Raven, James M, Holmes, we've Organizations: Service, senior Air Force, Air Force, Global Air, Space Chiefs, Conference, UK's, Space Power Association, Business, Fighter, US Air Force, Force, American, Next, Sabre, Convair, Delta Dart, Rand Corporation, National Museum of, Staff, Joint Chiefs, Raptors, Royal Norwegian Air Force, Senior, Boeing, Lockheed, US, Marine Corps Lockheed, Royal International Air, Reuters, Getty, Capitol, Raider, Air, Edwards Air Force Base, DARPA, USAF, III, America, Minuteman, Sentinel missile, Pentagon, Lockheed Martin Aeronautics Company, Sentinel, Defense, Tech, Combat Command, US Air Force Research Laboratory, Sandboxx Locations: London, American, Fairford, Britain, Fort Worth, California, United States, Soviet Union, Marietta , Georgia, America, Europe

U.S. adults will wager $35 billion this NFL season, according to projections from the American Gaming Association. Since last NFL season, Maine, North Carolina and Vermont have allowed sports betting operators to launch in their states. "The NFL season is our biggest acquisition period of the year," said Christian Genetski, president of FanDuel, the nation's leading sportsbook. Since then, Fanatics Sportsbook acquired PointsBet's U.S. operations and technology, which is now fully integrated. It first launched in November last year, smack in the middle of NFL season.

Persons: Joe Milton III, Kyu Blu Kelly, Scott Taetsch, Churchill, Christian Genetski, FanDuel, It's, Michael Rubin's, Sportsbook, Pavlo Gonchar, Matt King, King, DraftKings, Penn, Jay Snowden, Gabby Jones Organizations: New England Patriots scrambles, Getty, American Gaming Association, National Football League, NFL, International, Caesars, MGM Resorts, New York Stock Exchange, Rush Street Interactive, FanDuel, YouTube, PointsBet's, Lightrocket, CNBC, Penn Entertainment, ESPN Bet, Disney, ESPN, Bloomberg Locations: Landover , Maryland, Maine, North Carolina, Vermont, Florida, Washington, Penn, Entain, New York

☆ How Tim Walz made Minnesota a 'roadmap' for progressive economic policy
▼ + stars: | 2024-09-02 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +7 min

Governor Tim Walz delivers remarks at the Milwaukee Area Labor Council's Laborfest 2024 on September 2nd, 2024 at the Summerfest Grounds, in Milwaukee, Wisconsin. Tim Walz, Minnesota has expanded union protections, approved over $1 billion in housing resources, enacted universal paid family and medical leave, funded free school lunches, hiked corporate taxes and more. "It's a roadmap for sure," Amy Koch, a Republican strategist who formerly served as a Minnesota state senator, told CNBC. Already, several of the economic priorities of the Harris campaign mirror policies that were championed by Walz in Minnesota. Tim Walz listens to homeless constituents after being elected to his first term in 2018.

Persons: Tim Walz, Sara Stathas, Harris, Walz, I've, Bernie Burnham, Kamala Harris, Amy Koch, Kevin Lamarque, Joe Biden's, Gabby Giffords, Brian Snyder, Jeff Hayden, Hayden, Elianne Farhat, Mills, Bauer, Griffin, Doug Loon, Loon, Burnham, Charles Lutvak, Monica Nilsson Organizations: Milwaukee Area Labor, Washington Post, North Star State, Minnesota AFL, CNBC, Democratic Gov, Republican, Democratic, Minnesota, Reuters, Child Tax, Farmer, Labor, DFL, Senate, House, Minnesota Democrats, Fortune, Target, AaronP, Minnesota Chamber of Commerce, Minnesota Gov, Minnesota Housing Locations: Milwaukee , Wisconsin, Minnesota, Tim Walz , Minnesota, Minnesota . U.S, U.S, America, Minnesota's, Minneapolis , Minnesota, UnitedHealth

☆ The Fed’s favorite inflation indicator increased 0.2% in July, as expected
▼ + stars: | 2024-08-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Excluding volatile food and energy prices, core PCE also increased 0.2% for the month but was up 2.6% from a year ago. Core prices less housing, another key metric for the Fed, increased just 0.1% on the month. Elsewhere in the report, the department's Bureau of Economic Analysis said personal income increased 0.3%, slightly higher than the 0.2% estimate, while consumer spending rose 0.5%, in line with the forecast. Markets reacted little to the news, with equity futures pointing to a slightly higher open on Wall Street and Treasury yields higher as well. In recent days, policymakers such as Chair Jerome Powell have expressed confidence that inflation is progressing back to the Fed's 2% goal.

Persons: Dow, Joseph Brusuelas, Jerome Powell Organizations: Federal Reserve, Commerce Department, Dow Jones, Fed, department's, BEA, Treasury, RSM

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