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☆ Shein and Temu prices are set to get a lot higher as Biden takes aim at retailers linked to China
▼ + stars: | 2024-09-13 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

The committee made the estimate after launching investigations into Shein and Temu more than a year ago. "If the de minimis exemption is removed, then the cost of products from marketplaces like Shein and Temu will rise. They will still be cheap marketplaces but they won't have quite the competitive edge on price that they do now," Saunders told CNBC in an email. On Friday morning, the Biden administration announced plans to bar overseas shipments of products that are subject to U.S.-China tariffs from being eligible for the de minimis exemption. Both Shein and Temu declined to tell CNBC if they will raise prices due the proposed changes.

Persons: Biden, Neil Saunders, GlobalData, Saunders, that's, Shein Organizations: Republican, Chinese Communist Party, CNBC, CCP, U.S . Customs Locations: U.S, China, United States

☆ Import prices fell more than expected in August
▼ + stars: | 2024-09-13 | 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 EmailImport prices fell more than expected in AugustCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli

☆ Here's the deflation breakdown for August 2024 — in one chart
▼ + stars: | 2024-09-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

It means that, in aggregate, the average prices of goods and services are rising, just more slowly. Where prices have deflatedFor example, prices have declined by about 5% for furniture and bedding and 3% for appliances since August 2023, according to CPI data. Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Airline fares have declined about 1% over the past year, according to CPI data. Grocery prices have fallen for items such as apples, potatoes, ham, coffee, rice, seafood and bananas, according to CPI data.

Persons: Stephen Brown, it's, Sarah House, They've, women's outerwear, Brown Organizations: North, Capital Economics, Finance, Social Security, Wells, Wells Fargo Economics, U.S, International Air Transport Association Locations: U.S, North America, Wells Fargo, China

☆ These 5 parts of the stock market are most at risk if Trump wins the election and implements wide-reaching tariffs, Barclays says
▼ + stars: | 2024-09-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The presidential candidate has pledged to unleash universal tariffs on all US trade if elected. The firm outlined which five sectors are the most exposed to losses if Trump wins and implements tariffs. To be sure, US firms have some way of navigating higher costs associated with tariffs, Barclays said. Other economists have loudly criticized Trump's tariff idea as fuel for inflation, given that prices will rise amid a pullback in foreign products. AdvertisementAccording to Barclays, inflation would climb 0.09 percentage points in the short run, and US GDP could take a 1.2% hit in the first 12 months.

Persons: Trump's, —, Donald Trump's, Kamala Harris, Trump Organizations: Barclays, Trump, Service, Democratic, Companies Locations: Mexico

☆ Stock futures are little changed after S&P 500 notches fourth-straight winning session: Live updates
▼ + stars: | 2024-09-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Thursday evening as traders sought to shake off a sluggish September. S&P 500 futures traded near the flatline. Futures tied to the Dow Jones Industrial Average added just 0.03%, and Nasdaq 100 futures slipped 0.02%. During Thursday's regular trading, investors snapped up shares of Big Tech names, including Nvidia , lifting the S&P 500 and the Nasdaq Composite for a fourth consecutive day. The three major averages are also on track to post weekly gains, with the S&P 500 up 3.5% and the Nasdaq on track for a 5.3% jump.

Persons: Dan Greenhaus, Dow Organizations: Dow Jones, Nasdaq, Big Tech, Nvidia, Dow, Salesforce, Microsoft, Federal, Management Locations: U.S

☆ Trump likely wouldn’t need Congress to approve his most controversial trade policy
▼ + stars: | 2024-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN that 100% tariffs would threaten the economy. It’s possible he is floating 100% tariffs as just a threat designed to change the behavior of other countries. ‘No question it’s inflationary’The Trump campaign did not provide an explanation to CNN about how Trump would implement 100% tariffs nor what the trigger would be. He said Trump’s tariff plan, if enacted, would risk setting off a market panic like former UK Prime Minister Liz Truss did in 2022.

Persons: New York CNN —, Donald Trump, Trump, ” Trump, “, you’re, ” Maury Obstfeld, Obstfeld, ” Obstfeld, Christine McDaniel, George W, Bush, ”, McDaniel, George Mason University’s, Alex Durante, ” Durante, Brian Hughes, ” Hughes, ‘, Harris, Kamala Harris, ” Kent Smetters, Smetters, Wharton “, it’s, ” Wharton, Liz, Joe Brusuelas, ” “ I’m, Joe Biden, Biden, Brusuelas, Liz Truss, Matt Priest, Trump’s Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, International Monetary Fund, Trump, United States Trade Representative, Commerce Department, Tax Foundation, University of Pennsylvania’s Wharton School, Penn Wharton Budget, Wharton, ABC, RSM, Democratic, Footwear Distributors, Retailers of America Locations: New York, Wisconsin, United States, China, Russia, “, American

☆ Trump tariffs will fuel supply chain inflation and consumers will pay the price, trade experts warn
▼ + stars: | 2024-09-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

A cargo ship is sailing towards the docking of a foreign trade container terminal in Qingdao Port, Shandong province, in Qingdao, China, on June 7, 2024. Judah Levine, head of research for Freightos, says if history is any guide, additional tariffs will fuel ocean freight rates. Any increase in freight demand will fuel rates, said Peter Sand, chief shipping analyst at ocean freight rate intelligence platform Xeneta. "When ocean container shipping markets increase, that cost gets passed down the line and ultimately it is the end-consumer who pays the price," Sand added. Xeneta data shows the last time Trump ramped up tariffs on Chinese imports during the trade war in 2018, the ocean container shipping markets spiked more than 70%.

Persons: Donald Trump, Trump, Judah Levine, Levine, Biden, Lars Jensen, Peter Sand, Sand Organizations: Trade, U.S . West Coast, U.S . Trade Representative, U.S . West, Trump, FEU Locations: Qingdao Port, Shandong province, Qingdao, China, Asia, U.S . West Coast, Vespucci

Sen. JD Vance introduces former President Donald Trump during a rally at Herb Brooks National Hockey Center on July 27 in St. Stephen Maturen/Getty ImagesFormer President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pays the tariff. “It’s fair to call a tariff a tax because that’s exactly what it is,” said Erica York, a senior economist at the right-leaning Tax Foundation. He also said he would impose a “100% tariff” on countries that shift away from using the US dollar.

Persons: Sen, JD Vance, Donald Trump, Stephen Maturen, Trump, –, Kamala Harris, ” Trump, ” Vance, ”, Erica York, “, Joe Biden Organizations: Herb Brooks National Hockey Center, Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission Locations: St, Cloud , Minnesota, China, Arizona

☆ What Trump and Harris’ economic proposals mean for you
▼ + stars: | 2024-09-10 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +9 min

Here’s a look at what could happen to inflation, jobs and the deficit if Trump or Harris win in November. That, among other things, would keep the top tax rate individuals pay at 37% compared to 39.6% before it went into effect. Meanwhile, the tax proposals Harris has put forth so far mostly involve imposing higher taxes, which would have a positive impact on the deficit. For instance, she’s endorsed raising the top individual income tax rate to 44.6% and the top long-term capital gains tax rate to 28% versus the current 20%. Taken together, the Penn Wharton Budget model estimates Harris’ proposals could increase the deficit by an additional $1.2 trillion by 2034.

Persons: Kamala Harris, Donald Trump, Harris, Goldman Sachs, Trump, Warwick McKibbin, Goldman, she’s, ”, Justin Wolfers, Kevin Dietsch, He’s, Elon Musk, She’s, Joshua Gotbaum Organizations: New, New York CNN, Labor Department, Trump, Peterson Institute for International Economics, Gross, University of Michigan, CNN, Federal Reserve, Treasury Department, Wharton Budget, Social Security, Penn, Wharton Budget Model, Penn Wharton Budget, Brookings Institution Locations: New York, United States, Penn

Former President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pays the tariff. A tariff is a tax that is paid by US businesses – not other countries – when a foreign-made good arrives at the American border. “It’s fair to call a tariff a tax because that’s exactly what it is,” said Erica York, a senior economist at the right-leaning Tax Foundation. He also said he would impose a “100% tariff” on countries that shift away from using the US dollar.

Persons: Donald Trump, Sen, JD Vance, Trump, –, Kamala Harris, ” Trump, ” Vance, ”, Erica York, “, Joe Biden Organizations: Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission Locations: China, Arizona

☆ Fact check: Trump and Vance keep falsely describing how tariffs work
▼ + stars: | 2024-09-09 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

Washington CNN —Former President Donald Trump and Republican vice presidential nominee Sen. JD Vance continue to falsely describe how one of their major policy proposals, across-the-board tariffs, would work. Trump has falsely, and repeatedly, claimed that China – not US importers – pay the tariff. Facts First: Trump and Vance’s claims about how tariffs work are false. Together, the price increases cost consumers more than $1.5 billion during the first year the tariffs were in place. It’s true that after Trump imposed tariffs on foreign-made steel, some American steel companies reopened mills and created new jobs.

Persons: Donald Trump, Sen, JD Vance, Trump, Kamala Harris, ” Trump, “, ” Vance, ” “, ”, Erica York, Joe Biden, Rick Muskat, Howard Gleckman, Jeff Ferry, Ferry Organizations: Washington CNN, Republican, Democratic, Fox News, Trump, Tax, US, US International Trade Commission, US Treasury, US Customs, Protection, Deer Stags, CNN, Brookings Tax, Coalition for, Prosperous, Tax Foundation, China Business Locations: China, Arizona, Wisconsin, American, United States, South Korea, Mexico, Prosperous America

☆ The US is dismantling nuclear warheads to power next-gen reactors
▼ + stars: | 2024-09-09 | by ( Ella Nilsen | ) edition.cnn.com time to read: +8 min

This fuel is set to power the next generation of America’s nuclear reactors — small, modular power stations that are easier and cheaper to build. They require far less upkeep and physical space than the aging fleet of large nuclear power plants. “In order to meet our energy security needs and our climate goals, we do need significantly more nuclear energy deployed.”The nuclear power industry is increasingly looking to smaller reactors, which run on HALEU. The uranium for conventional reactors is enriched up to 5% and HALEU is uranium enriched between 5-20%. Highly enriched uranium is anything more than 20% and is used in weapons or naval submarines.

Persons: —, Michael Goff, Bill Gates, ”, Jeff Navin, “, hasn’t, Benjamin Rasmussen, Jeff Chamberlin, Goff, Dan Leistikow, Josh Jarrell, Leistikow, Centrus, TerraPower’s Navin, ” Navin Organizations: CNN, Manhattan Project, National Nuclear Security, US, Energy, of Nuclear Energy, Idaho National Laboratory, Department of Energy, New York Times, United, US Energy Department, Miller, Centrus Energy, Idaho National Laboratories, Idaho National Labs, Energy Department, DOE Locations: Oak Ridge , Tennessee, Oak Ridge, Tenneseee, United States, Russia, Ukraine, Idaho, Wyoming, Kemmerer , Wyoming, Congress

☆ How an American Airlines mechanic nearly smuggled 25 pounds of cocaine worth $250,000 into the US
▼ + stars: | 2024-09-08 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

A judge sentenced former American Airlines mechanic Paul Belloisi to 9 years for smuggling cocaine. Police found cocaine worth $250,000 in the electronics compartment of an American Airlines plane. AdvertisementA former American Airlines mechanic nearly managed to smuggle 25 pounds of cocaine into the United States worth a quarter of a million dollars — until the flight was marked for a random search. A federal judge in New York sentenced Paul Belloisi, 56, to nine years in prison Friday for charges of conspiracy to possess and import cocaine. Police discovered 10 bricks containing over 25 pounds of cocaine in the electronics compartment of an American Airlines flight at John F. Kennedy International Airport in New York City in February 2020.

Persons: Paul Belloisi, —, John F Organizations: American Airlines, Service, Police, Kennedy International, Justice Department, Business Locations: United States, New York, New York City, Montego Bay, Jamaica

☆ A Gen Xer with an MBA can't get a job despite over 1,500 job applications. He said his degrees have been useless.
▼ + stars: | 2024-09-08 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Read previewMarcial Quinones, 48, used to have few problems getting jobs in the 1990s without a high school diploma. Now, after what he estimates is over 1,500 applications since the early 2010s, he can't land any stable job in his field even with an MBA. Quinones is one of many Americans with traditional work credentials who can't land a decently paying, stable job. This comes at a time when getting a college degree is much more necessary to landing a well-paying job. He recalled walking from company to company with résumé in hand, which resulted in some job offers.

Persons: —, Marcial Quinones, Quinones, he's, " Quinones, I've, I'm, Uber, they've, He's, Tony Organizations: Service, Business, Salvation Army, Intel, BI Locations: Pennsylvania, Arizona, New Jersey, Puerto Rico

☆ The Trump policy that freaks out economists the most
▼ + stars: | 2024-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —Former President Donald Trump wants to spend trillions of dollars on tax cuts. “It’s enormously protectionist and terrible economic policy,” said Holtz-Eakin, who served as an economic adviser to former President George H.W. The cost of the Trump tax cutsTrump has called for extending his signature 2017 tax cuts, which expire next year if no action is taken by Congress. Trump has argued that extending the tax cuts will boost the economy, create jobs and help families. The Trump campaign has not detailed significant spending cuts or tax hikes to offset these tax cuts.

Persons: Donald Trump, Trump, Goldman Sachs, Kamala Harris, Goldman, “, ” David Kelly, Kelly, “ It’s, ”, ’ Trump, Douglas Holtz, Eakin, Holtz, George H.W, Bush, GOP Sen, John McCain, Mark Zandi, ” Zandi, Karoline Leavitt, they’ll, ” Leavitt, Trump’s, ” Harris, “ Donald Trump, ” Brian Nelson, Harris, Kimberly Clausing, Mary Lovely, ” Trump, Joe Biden, Penn, Penn Wharton, The Trump, CNN’s Katie Lobosco Organizations: New, New York CNN, Asset Management, CNN, America, New York Economic Club, American, GOP, Moody’s, Trump, Peterson Institute for International Economics, Peterson Institute, US Customs, Louis Federal Reserve, Biden, Congress, Princeton University, University of Chicago, Harvard University, US Treasury Department, Penn Wharton Model, Social Security Locations: New York, United States, China, America

☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ I'm a product manager who interned at Apple, Google, and Microsoft. Now I'm opening up a candy store.
▼ + stars: | 2024-08-31 | by ( Jaures Yip | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with Elly Ross, a head of product at an e-commerce company who is starting her own candy shop, "lil sweet treat." I was going on a walk to lunch one day and I passed by the unit that is now "lil sweet treat" — and I immediately knew that this was the spot for the candy shop. Product management skills in the candy shop worldA lot of the skills that I cultivated as a PM have been so helpful in building "lil sweet treat." When you buy this large amount of candy, you have to transfer that candy from one of the candy store bags into another vessel at home. Every time that your shopper reaches for a sweet treat, they see the "lil sweet treat" branding associate that sweet treat with "lil sweet treat."

Persons: —, Elly Ross, It's, I've, it's, we've, they're, I'm Organizations: Service, Business, Google, Blackstone Group, Apple, Microsoft, Big Tech Locations: Swedish, New York, Germany, New York City

☆ China’s state media: Canada is 'shooting itself in the foot’ with new EV tariffs
▼ + stars: | 2024-08-28 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

BEIJING, CHINA - DECEMBER 04: China and Canada flag is displayed in front of the Forbidden City on December 4, 2017 in Beijing, China. China's state media has criticized Canada over its decision to impose 100% import tariffs on Chinese electric vehicles, using bolder language than Beijing's official government response. Canada is "shooting itself in the foot" by "following U.S.' protectionist policies," the outspoken editor of the Global Times, a Chinese government mouthpiece, wrote Wednesday. On Monday, Canada announced that it would import 100% tariffs on China-made electric vehicles, effective Oct. 1. The Biden administration announced in May significant tariffs on Chinese EVs, advanced batteries, solar cells, steel, aluminum and medical equipment.

Persons: Biden, Lin Jian, Lin, Justin Trudeau, –, Sheila Chiang Organizations: Global Times, Communist Party, European Union, European, China's Ministry of Commerce, Foreign Ministry, Ottawa Locations: BEIJING, CHINA, China, Canada, City, Beijing, U.S, EVs

☆ Canada to slap 100% import tariffs on Chinese electric vehicles over 'unfair' competition
▼ + stars: | 2024-08-27 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Canada already imposes 6.1% tariff on EVs manufactured in China and imported into Canada, the government said on Monday. The country will also put a 25% tariff on China-made steel and aluminum imports, effective Oct. 15. China is the third-largest country for steel imports into Canada, according to the Canadian Steel Producers Association. Canada's EV, steel and aluminum industries face "unfair competition" and trade practices from China, the government's finance department said. The EU also hit China-made EVs with higher tariffs in July, though it slashed some of the planned tariffs on China-made Tesla EVs as well as other Chinese EV makers last week.

Persons: Justin Trudeau, Blair Gable, Tesla, Vincent Chan, CNBC's Organizations: Canada's, Rideau Hall, Reuters, European, Canadian Steel Producers Association, EU, Biden Administration, EV, Aletheia Locations: Ottawa , Ontario, Canada, Reuters Canada, China, European Union, U.S

☆ Olympic chocolate muffins brought to New York City for pop-up
▼ + stars: | 2024-08-24 | by ( Victoria Feng | Victoria Feng Is An Intern On The Nbc News Technology Desk. | ) www.nbcnews.com time to read: +4 min

Three weeks later, she tracked down the French supplier, facilitated a shipment of muffins to the U.S. and dealt with the resulting challenges, all to bring the viral muffins to New York City for a pop-up event. In a thread on X, Zhang detailed how she worked with New York City cafe Isshiki Matcha to bring the viral muffins to hundreds of New Yorkers on Aug. 17. Isshiki Matcha, which has been open for four months, primarily sells premium matcha and matcha drinks. “I could eat this viral muffin that all these Olympic athletes can’t stop talking about.”Zhang described the muffin as light, moist and not too sweet. Zhang and Zheng are trying to import another batch of muffins to sell (and eat), but nothing has been finalized yet.

Persons: Kelin Carolyn Zhang, Henrik Christiansen, Christiansen, Stephen Nedoroscik, Gabby Thomas, Zhang, “, ” Zhang, de, Angel Zheng, Isshiki Matcha, ” Zheng, Isshiki, Zheng, pates, ” Organizations: New, Yorkers, NBC News Locations: Norwegian, TikTok, New York City, U.S

☆ Consumer spending jumped in July as retail sales were up 1%, much better than expected
▼ + stars: | 2024-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowConsumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Excluding auto-related items, sales increased 0.4%, also better than the 0.1% forecast. Miscellaneous retailers saw a plunge of 2.5% while gas stations saw receipts climb just 0.1% and clothing stores were down 0.1%. There was one counterpoint to that in another data release Thursday in which the Labor Department said import prices increased 0.1% in July, slightly ahead of the forecast for no change.

Persons: Dow Jones, Richard de Chazal, William Blair Organizations: Commerce Department, Stock, Labor Department

☆ A Tesla fan in India preordered a Model 3 in 2016. He waited 7 years, and the car still hadn't shown up.
▼ + stars: | 2024-08-14 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Read previewTesla fan Vishal Gondal from Mumbai said he preordered a Tesla Model 3 in April 2016, excited about the car's "cutting-edge EV technology." Gondal is one of the Tesla fans in India who preordered the Model 3 in 2016 and were left hanging for years for cars that never arrived. Advertisement"I initially expected to wait one to two years but ended up waiting nearly eight years with no car," Gondal told BI. It lowered import taxes on EVs made by companies that commit to investing at least $500 million and start domestic manufacturing within three years, per Reuters. AdvertisementRepresentatives for Tesla did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Vishal Gondal, Elon Musk's, Tesla, Gondal, Hemant Suthar, Elon Musk, Musk Organizations: Service, Tesla, Business, Audi, Musk's EV, Associated Press, Reuters, Business Insider Locations: Mumbai, India, Europe, Asia, Pacific

☆ How Warren Buffett's big Japanese investments fared in the global market rout
▼ + stars: | 2024-08-11 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

This week's violent global market meltdown started in Japan — where Warren Buffett has big investments — but the damage was limited. The Nikkei 225 index , a benchmark for Japanese stocks, plunged 12.4% on Monday, its worst day since "Black Monday" in 1987, triggering a domino effect globally. The stocks Buffett holds cratered as much as 30% initially, but bounced back by the end of the week along with the broader market. The Japanese trading houses also reported second-quarter earnings earlier this week, mostly exceeding analyst expectations and maintaining their full-year guidance. Away from Japan, Buffett was in a selling mood in the second quarter.

Persons: Warren Buffett, Buffett, Berkshire Hathaway, Buffett's, it's Organizations: Bank of Japan, Berkshire, Mitsubishi, Mitsui, Sumitomo —, Sumitomo, Tokyo Stock Exchange, Apple, Buffett Locations: Japan, Omaha, Berkshire

☆ Missing pieces of a Byzantine artifact recovered at Sutton Hoo
▼ + stars: | 2024-08-10 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

The incomplete artifact is on display in the High Hall exhibition at Sutton Hoo in Suffolk, England. A researcher excavates part of the Bromeswell bucket from the trench at Sutton Hoo. Based on the forms of Greek letters at the top of the artifact, researchers think the vessel was already 100 years old when it arrived at Sutton Hoo, Howarth said. Future research at Sutton Hoo could reveal the broader history of the site and what kept drawing people to inhabit it over time, Howarth said. The aim of this project is to look at the landscape and think about who was inhabiting it and how that fits into the wider Sutton Hoo story.”

Persons: Count, David Brun, ”, Laura Howarth, Howarth, James Dobson, ’ ” Howarth, Angus Wainwright, “, David Brunetti, ” Howarth, Sutton, Edith Pretty Organizations: CNN, Sutton, harrow, National Trust ., National Trust, Field, Specialists, Heritage, Hoo, “, British Museum Locations: Suffolk, England, Hoo, African, Sutton Hoo, Byzantine, Antioch, Turkey, Britain, Sutton, Hampshire, East Anglia, what’s, Sri Lanka

☆ Wall Street will get key insight on the consumer, inflation in the week ahead as recession fears swirl
▼ + stars: | 2024-08-09 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The wildest week of 2024 has investors bracing for more volatility in the week ahead, with key insight on the consumer and inflation coming at a time when recession fears are top of mind. Inflation, labor data Next week's inflation data could get less attention than it has over the past year when the Fed's fight against pricing pressures put inflation reports on center stage. Recently, it's been the labor market getting the most attention. "The market's caring much more about about labor markets and growth, than they do inflation right now," Ladner said. Week ahead calendar All times ET Monday, Aug. 12 2 p.m. Treasury Budget (July) Tuesday, Aug. 13 8:30 a.m. Producer Price Index (July) Earnings: Home Depot Wednesday, Aug. 14 8:30 a.m. Consumer Price Index (July) 8:30 a.m.

Persons: Scott Ladner, it's, Ladner, —, Strategas, Ryan Grabinski, RJ Assaly, Jeremy Siegel, Chen Zhao, Zhao, Price Organizations: Federal, Walmart, Home, Horizon Investments, Bank of Japan, Wharton, Fed, UBS, Investments, Treasury Budget, Price, Philadelphia Fed, Retail, Manufacturing, Materials, Tapestry, Deere, Co, Housing Locations: U.S, NAHB, Michigan

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