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☆ IRS announces new income tax brackets
▼ + stars: | 2023-11-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

New York CNN —If you are someone who likes to plan ahead on your taxes, the IRS this week released the new inflation-adjusted income tax brackets and standard deduction amounts that will be in effect for tax year 2024. The IRS makes inflation adjustments annually to tax brackets, the standard deduction and some other tax breaks. New income tax bracketsThe US federal income tax code currently has seven tax rates – 10%, 12%, 22%, 24%, 32%, 35% and 37%. For tax year 2024, each of the seven rates will apply to the following new income tax brackets:10%: Income up to $11,600 ($23,200 for married couples filing jointly)12%: Income over $11,600 ($23,200 for joint filers)22%: Income over $47,150 ($94,300 for joint filers)24%: Income over $100,525 ($201,050 for joint filers)32%: Income over $191,950 ($383,900 for joint filers)35%: Income over $243,725 ($487,450 for joint filers)37%: Income over $609,350 ($731,200 for joint filers). Taxable income, remember, is your gross income minus the various tax breaks for which you’re eligible.

Persons: Alex Durante, ”, Robert McClelland Organizations: New, New York CNN, IRS, The Tax, Tax, Center Locations: New York

☆ Foreign exchange funds double average returns due to the biggest divergence in central bank rates since 2008
▼ + stars: | 2023-11-08 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Foreign exchange funds are headed for an annual return of around 7%, according to Bloomberg. AdvertisementAdvertisementCurrency investors are seeing big returns this year as differences in interest rates across the top 10 global economies are at their widest since 2008. Foreign exchange funds are looking at an annual return of around 7%, according to data from BarclayHedge cited by Bloomberg. Currency carry trades are one of the most popular trades in the foreign exchange market, but they have been quaking as returns have become harder to maintain. Many foreign exchange funds have closed over the years, unable to defend paltry growth.

Persons: — Organizations: Bloomberg, Service, Nomura's Group, US Federal, Bank of Japan

☆ 10-year Treasury yield falls as investors consider state of U.S. economy
▼ + stars: | 2023-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was trading 5 basis points lower at 4.604%. The 2-year Treasury yield was last down by more than 3 basis points at 4.907%. U.S. Treasury yields fell on Tuesday as investors assessed the outlook for the economy and monetary policy as they awaited economic data and comments from Federal Reserve officials. The Fed last week left interest rates unchanged while noting resilience from the economy despite rates being elevated for some time now. On Tuesday, balance of trade data for September is due, and several Fed officials are slated to give remarks.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Federal Reserve, Fed

☆ UK officials close antitrust probes into Amazon’s and Meta’s retail platforms
▼ + stars: | 2023-11-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The United Kingdom’s competition watchdog has wrapped up its antitrust investigations into Amazon’s and Meta’s retail platforms, saying it has secured commitments from the US tech giants that will ultimately benefit consumers. In theory, the more businesses are able to fairly compete for consumers’ cash, the more choice consumers ultimately have. Meta’s competitors will have the option to “opt out” of the tech firm using some of their data to improve Facebook Marketplace, the CMA said. That commitment, along with others, means Meta “cannot exploit advertising customers’ data to give itself an unfair advantage — and as such distort competition,” Pope said. A spokesperson for Meta told CNN it welcomed the CMA’s decision to close its investigation into Facebook Marketplace.

Persons: Ann Pope, ” Pope, Meta Organizations: London CNN, Markets Authority, CMA, Amazon, Facebook, CNN, Meta, Global, Big Tech, US Federal Trade Commission, European Union

☆ JPMorgan CEO Jamie Dimon says he suspects the Fed isn't done with interest-rate hikes, just hours after Powell hit pause again
▼ + stars: | 2023-11-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

JPMorgan Chase CEO Jamie Dimon suspects the Fed may not be done hiking rates, per Yahoo. On Wednesday, the Fed said it would hold federal funds at rates steady in the 5.25% to 5.5% range. Dimon said the Fed may still hike rates by 0.25 percentage point to 0.75 percentage point. "I think they're right to pause here and see what happens," Dimon told Yahoo Finance Live just hours after the central bank's decision. On Wednesday, the Fed said it would hold the federal funds rate steady in the 5.25% to 5.5% range.

Persons: Jamie Dimon, Dimon, —, JPMorgan Chase Organizations: JPMorgan, Yahoo, Service, Federal Reserve, Yahoo Finance, Fed

☆ UK household wealth has tanked and it's a sign of what could happen in the US
▼ + stars: | 2023-11-01 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

UK's household wealth dropped due to rising interest rates, with regions like Scotland hit hardest. The US faces a similar risk with many Americans' wealth tied up in home equity and retirement accounts. Decline in UK household wealth since the start of 2022. Scotland, Wales, and the North of England had the biggest drops of 24% to 26% in total household wealth. Similar factors are seen in the USThe factors leading to declining household wealth in the UK cast a long shadow over the US.

Persons: —, Jeremy Grantham, Grantham, Daniel Bustamante, boomers Organizations: Service, Bank of England, Foundation, Federal Reserve's Survey, Consumer Finances, Treasury, Brigade, Bustamante, Co Locations: Scotland, Wales, England, East, North

☆ 10-year Treasury yield rises ahead of Fed rate decision
▼ + stars: | 2023-11-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The yield on the 10-year Treasury was more than a basis point higher at 4.888%. The 2-year Treasury yield slipped 2 basis points to 5.052%. The 10-year U.S. Treasury yield rose Wednesday as investors awaited the latest Federal Reserve interest rate decision and guidance from the central bank about the outlook for monetary policy. Investors are widely expecting the Fed to keep interest rates unchanged Wednesday and are looking to guidance issued alongside the rate decision and comments from Fed Chairman Jerome Powell for hints about the policy outlook. Markets will also be looking to policymakers for hints about how long interest rates will likely stay elevated.

Persons: Jerome Powell, Powell, Dow Jones Organizations: Treasury, Fed, Treasury Department, Dow

☆ Design revealed for space toilet with a view
▼ + stars: | 2023-10-31 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

CNN —A restroom with an out-of-this-world view could be the surprise highlight for travelers adventuring with space tourism start-up Space Perspective. “Why not have a loo with a view?” Jane Poynter, Space Perspective“That’s why the toilet seat itself has a cushion, so you can sit there,” adds Poynter. And trips to the “edge of space” – like those proposed by Space Perspective and Zephalto – are different again. Space Perspective hopes to start transporting groups of up to eight passengers on flights by the end of 2024. Space Perspective intends to start tests fights imminently.

Persons: Jane Poynter, Poynter, ” Poynter, Dan, Isabella Trani, It’s, there’s, ” Jane Poynter, ”, Poynter –, Dennis Tito Organizations: CNN, CNN Travel, SpaceX, Virgin Galactic, Michelin, Space, US Federal Aviation Administration, FAA, US Coast Guard, “ Locations: Florida, British

☆ Sam Bankman-Fried blames top lieutenants for FTX troubles in second day of testimony in criminal trial
▼ + stars: | 2023-10-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +10 min

The market had already dropped 70% and if it fell another 50%, he was afraid the firm would be insolvent, Bankman-Fried told the jury. In describing the swift downfall of FTX, Bankman-Fried said that customer withdrawals had quickly increased from $50 million a day to $1 billion a day. For example, Sassoon asked Bankman-Fried if he assured people that Alameda played by the same rules as others on the FTX exchange. Sassoon asked Bankman Fried, "Would you agree you know how to tell a good story?" Sassoon asked.

Persons: Sam Bankman, Fried, Kyle Mazza, FTX, Mark Cohen, Caroline Ellison, Ellison, Gary Wang, Nishad Singh, Singh, Sun, Jane Rosenberg, Renato Mariotti, Bryan Cave Leighton Paisner, Mariotti, Danielle Sassoon, I'm, Sassoon, Bankman, Crypto, wasn't, Bankman Fried, Vox, he's, Alameda, —, Dawn Giel Organizations: Court, Anadolu Agency, Getty, Alameda Research, Alameda, Bloomberg, Apollo, Reuters, U.S . Justice Department's Securities, Commodities, CNBC, U.S, PR Locations: New York City, Alameda, New York, U.S, Chicago

☆ Elon Musk’s Twitter takeover, the platform and its cultural impact have fundamentally changed
▼ + stars: | 2023-10-27 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +16 min

Here’s a (non-exhaustive) account of how Musk has fundamentally changed Twitter since he made one of the most consequential acquisitions of the social media age. Many of Musk’s content and product decisions have also led to what civil society groups have reported as a troubling spread of hateful speech on the platform. He recommended that X users monitor the Israel-Hamas conflict by following an account known for spreading disinformation, before later deleting his post. And, in an attempt to prove that former Twitter executives deliberately discriminated against conservatives on the platform, Musk provided a handpicked group of journalists with selective access to company records. It is perhaps Musk’s all-consuming presence that has most undermined what users used to love about Twitter.

Persons: New York CNN — It’s, Elon Musk, Linda Yaccarino —, Yaccarino, ” Yaccarino, —, it’s, Here’s, Musk, he’s, Donald Trump, LeBron James, James, ”, X, General Mills, ” Weeks, “ Elon, what’s, “, Paul Pelosi, Dilbert, Scott Adams, George Soros, Joe Biden’s, Ron DeSantis ’, Robert F, Kennedy, Jr, Tucker Carlson, Vivek Ramaswamy, Benjamin Netanyahu, Hunter Biden Organizations: New, New York CNN, Elon, Twitter, US Federal Trade Commission, Securities, Exchange Commission, EU, Premium, Nintendo, NPR, PBS, Volkswagen, —, Center, Defamation League, Wall Street, Florida Republican Gov, Fox, New York, Trump Locations: New York, Israel, United States, breakeven, New

☆ Sam Bankman-Fried set to take the stand in his fraud trial
▼ + stars: | 2023-10-26 | by ( Cnn'S Allison Morrow | Nicole Goodkind | ) edition.cnn.com time to read: +1 min

FTX founder Sam Bankman-Fried attends as FBI agent Marc Troiano testifies as Bankman-Fried faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City, today. Jane Rosenberg/ReutersMost days, Sam Bankman-Fried gets up around 4 am to prep for his defense. Breakfast at the Metropolitan Detention Center in Brooklyn, where he’s been held since August, is served at 6 am. Bankman-Fried is also “friendly” with Genaro García Luna, the former head of Mexico’s FBI, who is awaiting sentencing for drug trafficking, this person said. When his trial began earlier this month, observers quickly noted changes to Bankman-Fried’s appearance.

Persons: Sam Bankman, Fried, Marc Troiano, Jane Rosenberg, he’s, Genaro García Luna Organizations: Metropolitan Detention, Southern, of, MDC, CNN, FBI Locations: New York City, Brooklyn, of New York, Honduras

The scheduled Fed board meeting will mark the first time in over a decade that the central bank has proposed revising the fees, which generated around $24.31 billion for lenders in 2019, the most recent Fed data shows. The Fed has not said how it plans to change the fees, which have long been criticized by retailers as disproportionately high, and a spokesman for the central bank declined to comment. The Wall Street Journal reported last week that the Fed will lower the caps, sending shares in credit card companies Visa V.N and Mastercard MA.N lower. In 2011 the central bank capped them at 21 cents per transaction, plus 0.05% of the transaction cost. Analysts said that it is likely the Fed could face a legal challenge from either industry if it pursues new caps.

Persons: Austen Jensen, Dodd, Frank, Banks, TD Cowen, Jaret Seiberg, Pete Schroeder, Michelle Price, Aurora Ellis Organizations: U.S . Federal, Fed, Retail Industry, Association, Street, Visa V.N, Mastercard MA.N, Thomson

☆ Deutsche Bank shares surge as it promises more cash for investors
▼ + stars: | 2023-10-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in Deutsche Bank surged nearly 7% Wednesday after it said strong earnings meant it could pay out more cash to shareholders over the next two years than previously anticipated. The bank said it expected to buy back more of its shares — a move which typically juices a company’s stock price — next year. It marks a striking turnaround for the bank following years of scandal, mass layoffs and regulatory fines that have weighed on its reputation, and its stock price. Shares have nearly doubled since hitting a record low in March 2020 but have still cratered 67% over the past decade. The Fed found that Deutsche Bank had made insufficient progress since 2018 to tighten its anti-money laundering controls, among other failures.

Persons: “ Organizations: London CNN —, Deutsche Bank, DB, ”, US Federal Reserve Locations: €

☆ Javier Milei wants Argentina to swap the peso for the US dollar. Here's what that would mean
▼ + stars: | 2023-10-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

For years, Argentinians have preferred to pay for many goods and services in greenbacks, rather than with their own collapsing currency, as part of an informal “blue dollar” currency market. To dollarize its economy, Argentina would need to exchange all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts. The Fed would continue to set the cost of borrowing based on the needs of the US economy, not Argentina’s. Practical headacheThere’s another significant snag in Milei’s plan: Argentina doesn’t have enough dollars to ditch the peso. “People would need to take wheelbarrows of cash to convert to dollars,” Sabatini said.

Persons: Javier Milei, Sergio Massa, Argentina’s, JP Morgan, Argentinians, Milei, Natacha, Matias Baglietto, Reuters “ That’s, ” Christopher Sabatini, Kimberley Sperrfechter, ” Sperrfechter, It’s, ” Sabatini, Luis Robayo, Sabatini, ” Organizations: London CNN, National Institute of Statistics, Argentina’s, US Federal Reserve, Economic, Reuters, America, Chatham House, CNN, Capital Economics, International Monetary Fund, Getty, IMF Locations: Argentina, greenbacks, Washington, El Salvador, Panama, Ecuador, United States, Buenos Aires, AFP

☆ GOP lawmaker attacks tax-exempt status of US colleges failing to condemn Hamas' 'barbaric' attacks
▼ + stars: | 2023-10-19 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

A GOP lawmaker said he was "disgusted" by US college responses to Hamas' attacks on Israel. AdvertisementAdvertisementA top Republican lawmaker overseeing US federal taxes has attacked the tax-exempt status of universities failing to condemn Hamas' "barbaric acts of terrorism committed against the Jewish people," according to a statement. Smith added that after Hamas' "horrific attack" on Israel on October 7, some universities, which had previously condemned speech they disapproved of, had failed to condemn Hamas attacks and student statements of support for Hamas. In the 12 days since the Palestinian militant group Hamas' terror attacks on Israel, elite US universities have been criticized for their response, or lack of response, to Hamas' attacks and student statements holding Israel responsible for Hamas' offensive. More than thirty Harvard student organizations issued a joint statement on October 10, in which they held Israel "entirely" responsible for Hamas' attacks.

Persons: Jason Smith, Smith, —, Israel Organizations: GOP, Service, Republican, Hamas, University, University of Virginia, Northwestern University Students for Justice, Israel Defense Forces, Palestinian Health Ministry Locations: Israel, United States, Palestinian, Harvard, Palestine, Gaza

☆ Joran van der Sloot confessed to killing Natalee Holloway. Why he likely won't be charged with her murder
▼ + stars: | 2023-10-19 | by ( Emma Tucker | ) edition.cnn.com time to read: +7 min

Joran van der Sloot is no longer the suspect in my daughter’s murder. The office told the Associated Press it was not immediately clear whether van der Sloot could face murder charges there. Joran van der Sloot (center) is transferred in a police car from the Ancon I jail in Lima, Peru, on June 8. She was last seen leaving a nightclub with van der Sloot and two other men. In court on Wednesday, Manasco said she considered van der Sloot’s “brutal murder of Natalee Holloway” in her decision to accept the plea agreement.

Persons: Joran van, Sloot, Natalee, Holloway’s, “, ” Beth Holloway, van der, ”, Ann Angela, van der Sloot, Ben Grunwald, he’s, Stephany Flores, it’s, ” Grunwald, ” Van der Sloot, Joran van der, Ernesto Benavides, der Sloot, Holloway, Deepak, Satish Kalpoe, Holloway kneed, Anna Manasco, Flores, van, Manasco, Natalee Holloway, der, Hermann Walz, Walz, Natalee Holloway ”, “ It’s, ” Walz, ‘ Organizations: CNN, Aruba –, Alabama, Associated Press, Duke University School of Law, Getty, Local, Prosecutors, John Jay College of Criminal Locations: Aruba, Dutch, Caribbean, Peru, Peruvian, Grunwald, Lima , Peru, AFP, Alabama, van der, New York

☆ GM and Honda team up on autonomous ride service for Japan
▼ + stars: | 2023-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —General Motors and Honda, along with Cruise — GM’s autonomous driving subsidiary — have agreed to create a driverless ride-hailing company in Japan. The company will use the Cruise Origin autonomous vehicle to give rides in Tokyo, Japan’s largest city. The Cruise Origin, an electric vehicle GM builds at a factory in Detroit, has no steering wheel, pedals or space for a driver. GM said it plans to build 500 of the vehicles for the Tokyo ride-hailing service, which is expected to be the first autonomous ride-hailing service in Japan, according to the companies. “The range of situations our [autonomous vehicles] have encountered is quite broad,” Voigt said, noting obstacles such as jugglers on the streets of San Francisco and donkeys in Austin.

Persons: Cruise, Honda, General Motors Cruise, Kyle Voigt, Voigt, ” Voigt Organizations: CNN —, Motors, Honda, —, Cruise, GM, General Motors, Ministry of Internal Affairs and Communications, Traffic, Administration Locations: Japan, Tokyo, Japan’s, Detroit, California, San Francisco, Phoenix, Austin, United States

The 10-year Treasury yield was down nearly 1 basis point to 4.839%, trading near 16-year highs seen in early October on Wednesday. Meanwhile, the 2-year Treasury yield was trading more than 1 basis point lower at 5.199% after hitting levels last seen in 2006 on Tuesday. U.S. Treasurys were little changed on Wednesday as investors digested the latest economic data and considered the outlook for Federal Reserve interest rates. Investors considered fresh economic data as uncertainty about the path ahead for Fed monetary policy grew in recent weeks. Upcoming economic data may also influence opinion among both investors and Fed officials.

Persons: Dow Jones, Jerome Powell Organizations: Federal Reserve, Investors, Fed Locations: .

Dutch citizen Joran van der Sloot is also accused of extorting and defrauding the teen’s mother. But Kelly confirmed to CNN that van der Sloot intends to plead guilty in connection to the case. The 18-year-old was last seen leaving a nightclub with van der Sloot and two other men, brothers Deepak and Satish Kalpoe. They were rearrested and charged in 2007 for “involvement in the voluntary manslaughter of Natalee Holloway or causing serious bodily harm to Natalee Holloway, resulting in her death,” Aruban prosecutors said at the time. Van der Sloot confessed to killing Flores and was sentenced to 28 years in a Peruvian prison.

Persons: Natalee Holloway, Joran van, Sloot, Holloway, John Q, Kelly, It’s, van der Sloot, NBC’s, ” Kelly, Beth Holloway, Natalee’s, der Sloot, Deepak, Satish Kalpoe, ”, van der, van, Stephany Flores, Van der Sloot, Flores Organizations: CNN, Alabama, “, FBI, US Justice Department, US Locations: Aruba, Natalee’s, Caribbean, Alabama, Peru

☆ A bigger war in Israel would send oil prices skyrocketing and hurt the economy's chances of avoiding a recession
▼ + stars: | 2023-10-16 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

The impact on oil prices would be enormous with one prediction of $150 per barrel. A surge in oil prices could undo the fight against inflation and cause prices to soar again. International Monetary Fund managing director Kristalina Georgieva expressed concern on Thursday over how global oil markets would be impacted by the war. If that were to happen, they predict that oil prices would skyrocket more than 70% to $150 per barrel from just under $90 we have now. An estimated 20-30% of global oil supply passes through the Strait of Hormuz, which is controlled by Iran.

Persons: —, Kristalina Georgieva, Steven Mnuchin, That's, Mnuchin, Mustafa Hassona, there's, Jerome Powell, Liu Jie Organizations: Service, Hamas, Monetary Fund, Bloomberg Economics, Bloomberg, US, Fox Business, Anadolu Agency, Getty, Biden, US Strategic Petroleum Reserve, Strategic Petroleum Reserve Locations: Israel, Iran, Hormuz, Iraq, Kuwait, Abu Nasr, Gaza City, Ukraine, Washington ,, Xinhua

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

The yield on the 10-year Treasury was more than 5 basis points higher at 4.681%. The 2-year Treasury yield was around flat at 5.058%. Treasury yields were higher Monday, with investors assessing the U.S. economic outlook as uncertainty about the path ahead for monetary policy, as well as geopolitical concerns, continued. Further remarks from Fed officials, including Fed Chairman Jerome Powell, are expected throughout the week. On the data front, investors will get fresh insights into the housing sector and retail sales figures are due Tuesday.

Persons: Patrick Harker, Jerome Powell Organizations: Treasury, Philadelphia Federal Locations: Israel, Gaza

☆ AMC CEO says he was the victim of an extortion plot
▼ + stars: | 2023-10-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Adam Aron, the CEO of AMC Entertainment, admitted Thursday that he was a “victim of an elaborate criminal extortion” plot. On X, Aron continued that following a “vigorous federal criminal investigation,” the perpetrator was convicted this past summer. He also said that the incident was “entirely a personal matter” and that he informed the AMC’s board of directors, as well as reviewed the events with an independent outside counsel. Aron said that the “matter is closed,” and he remains the CEO of AMC. AMC’s board of directors said in a statement to CNN that it had “determined it was a personal matter, and considers the issue resolved.”

Persons: New York CNN — Adam Aron, “, Aron, Semafor, of New York, Sakoya Blackwood, wasn’t, Thursday’s, Blackwood, ” Organizations: New, New York CNN, AMC Entertainment, US, Office, Southern, of, CNN, AMC Locations: New York, of New

☆ CNBC Daily Open: Investors shrugged off a hawkish Fed and hot PPI
▼ + stars: | 2023-10-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineInvestors shrugged off Fed minutes that tilted hawkish and a hotter-than-expected PPI report to give markets a fourth consecutive winning session. Unfortunately, September's PPI report came in surprisingly hot. It's true the PPI report focuses on producer prices, while the Fed tends to scrutinize the consumer side of the equation more. Investors could be feeling defiant — or wanting to seize the opportunity to snap up stocks at relatively cheaper prices — after September's stocks slump.

Persons: Jerome Powell, Ryan Collerd, Derek Schug, weren't fazed, Treasurys Organizations: US Federal Reserve, Bloomberg, Getty, CNBC, PPI, Fed, CPI, today's, Kestra Investment Management, Dow Jones, Nasdaq Locations: York , Pennsylvania

☆ Fed officials see 'restrictive' policy staying in place until inflation eases, minutes show
▼ + stars: | 2023-10-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Jerome Powell, chairman of the US Federal Reserve, arrives to a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, March 22, 2023. Federal Reserve officials at their September meeting differed on whether any additional interest rate increases would be needed, though the balance indicated that one more hike would be likely, minutes released Wednesday showed. Another point of complete agreement was the belief "that policy should remain restrictive for some time until the Committee is confident that inflation is moving down sustainably toward its objective." However, in the dot plot of individual members' expectations, some two-thirds of the committee indicated that one more increase would be needed before the end of the year. Since the September meeting, the 10-year Treasury note yield has risen about a quarter percentage point, in effect pricing in the rate increase policymakers indicated then.

Persons: Jerome Powell Organizations: US Federal Reserve, Market, Federal, Market Committee Locations: Washington , DC

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