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☆ Trump got the perfect birthday present: complete capitulation by the GOP
▼ + stars: | 2024-06-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

CNN —Donald Trump got his 78th birthday present a day early — a handshake from his longtime bitter critic, Senate Minority Leader Mitch McConnell, encapsulating the Republican Party’s complete submission to its presumptive presidential nominee. They were provoked by the president.” He said Trump was morally and practically responsible for the assault on his beloved Capitol. “There’s tremendous unity in the Republican Party,” the ex-president said. Vance, was asked how some senior Republicans who had condemned Trump after January 6 could meet and applaud him now. “I think it’s a good thing and the Republican Party is in a good place.”Vance is not wrong.

Persons: Donald Trump, Mitch McConnell, encapsulating, Republican Party’s, Mike Pence, Keen, Florida GOP Sen, Marco Rubio, Trump, Texas Sen, Ted Cruz, McConnell, Doug Mills, Elaine Chao, ”, clasped McConnell’s, Nikki Haley, “, Evelyn Hockstein, Ohio Sen J.D, Vance, ” Vance, Utah Sen, Mitt Romney, Liz Cheney, Paul Ryan, Trump’s deportment, Biden, Joe Biden —, —, Donald Trump’s, It’s, Vladimir Putin, we’re, ” Biden, Volodymyr Zelensky, Putin, Joe Biden, Antonio Masiello, John Bolton, ” Bolton, Bianna Golodryga, Ronald Reagan, doesn’t Organizations: CNN, Republican, Capitol, Republicans, trouncing Democrats, Florida GOP, The New York Times, Kentucky, Trump, South Carolina Gov, Republican Party, National Republican Senatorial, Reuters, Former Wyoming, Fox News, Lawmakers, GOP, Domenico, Borgo, Former Trump, Zelensky, CNN International Locations: Florida, Texas, adulation, America, Washington, Utah, Italy, Ukraine, Fasano

“I never loved him,” Trump said of Valadao, according to a GOP member. Trump did not shy away from acknowledging the bad blood between House Speaker Mike Johnson and GOP Rep. Marjorie Taylor Greene, who unsuccessfully tried to oust Johnson against Trump’s wishes. House Republicans voted to hold Attorney General Merrick Garland in contempt of Congress on Wednesday. In his meeting with GOP lawmakers, Trump called the Department of Justice “dirty no good bastards,” according to another source in the room. In a news conference after the meeting, House Majority Whip Tom Emmer said that the former president’s felony convictions have only energized the party that will propel them to victory in November.

Persons: Donald Trump, Taylor Swift, Nancy Pelosi, Trump, –, David Valadao, “, ” Trump, Valadao, Mike Johnson, Marjorie Taylor Greene, Johnson, Trump’s, Greene, “ He’s, ”, ’, Merrick Garland, Department of Justice “, Kevin Hern, Tom Emmer, it’s, ” Emmer, Roe, Wade, Nancy Mace, Ronald Reagan, Derrick Van Orden, Pelosi, —, popstar Taylor Swift, Joe Biden, Hannibal Lecter Organizations: CNN, House Republicans, Capitol, Republicans, GOP, Department of Justice, Food, Milwaukee, Wisconsin Republican, Milwaukee ”, Republican Locations: California, Oklahoma, New York, Ukraine, Wisconsin, Milwaukee

☆ What Trump told CEOs in their private meeting
▼ + stars: | 2024-06-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Trump also mentioned to the CEOs a recent proposal he rolled out in Nevada, to eliminate taxes on worker tips. Trump then told the CEOs a story about how excited tipped workers were about his proposal, prompting laughter from the corporate leaders, according to multiple sources. Trump spoke for about an hour at the Business Roundtable's quarterly meeting. For Trump and the CEOs who attended, the meeting represented an effort to mend relations after some have distanced themselves from the former president. Trump told a meeting full of House Republicans earlier in the day about the idea of imposing an "all tariff policy" that would ultimately enable the U.S. to get rid of the income tax.

Persons: Donald Trump, Trump, Tim Cook, Jamie Dimon, Jane Fraser, Brian Moynihan, Joe Biden's, Jeff Zients, Cook Organizations: National Republican, Committee, Business, Apple, JPMorgan, Citigroup, Bank of America, CNBC, Representatives, Trump, Capitol Hill, Biden, Republicans Locations: Washington , DC, Washington, Nevada, Charlottesville, Va

☆ Election Updates: Trump returns to Washington to flex political muscle.
▼ + stars: | 2024-06-13 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +6 min

“There’s high anticipation here and great excitement,” Speaker Mike Johnson told reporters on Wednesday before Mr. Trump’s visit. Mr. McConnell condemned Mr. Trump’s actions and declared him responsible. Pressed about Mr. Trump’s visit to Washington, Mr. McConnell told reporters on Wednesday, “I said earlier this year I supported him. He’s earned the nomination by the voters all across the country.”Defying the expectations of Mr. McConnell and many others, Mr. Trump did not disappear. Most of corporate America had turned its back on Mr. Trump after the violence on Jan. 6.

Persons: Donald J, Trump, Republicans ’, Biden, Trump’s, Mitch McConnell, —, “, Mike Johnson, John Barrasso of, McConnell, acquit, Erin Schaff, Mr, He’s, Ron DeSantis, Tim Cook, Jamie Dimon Organizations: Republicans, Republican, Trump, Business, Capitol, Biden’s Electoral, The New York Times, Gov, Capitol Hill, Apple, JPMorgan Chase, America Locations: Washington, Manhattan, John Barrasso of Wyoming, Georgia, Lago, Florida, Mecca

☆ How the economy will change under Trump vs Biden
▼ + stars: | 2024-06-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

And yes, a former president, Donald Trump, has been found guilty on felony charges. The US economy is expected to grow at double the rate of its G7 peers, according to the International Monetary Fund. Trump loved touting new Wall Street records; under Biden, the Dow hit over 40,000 for the first time. The president proposed hiking the corporate tax rate to 28%; billion-dollar companies would also face a higher corporate minimum tax. Some of the stock market and unemployment records that were set under Trump pre-COVID-19 have been surpassed by Biden.

Persons: Roe, Donald Trump, James Carville's, Biden, Joe Biden, Trump, qtN5DBOjAS — Heather Long, Jerome Powell, Powell Organizations: Service, ABC, Business, International Monetary Fund, Dow, Department of Agriculture, Auto, Federal Reserve, Union, Trump, Wall Street, NPR Locations: Russia's, Ukraine

☆ US economy added a whopping 272,000 jobs in May
▼ + stars: | 2024-06-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state and trajectory of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Employment fell in the household survey, while unemployment increased to just shy of 6.5 million and pushing the unemployment rate to the threshold of 4%. Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added. “Don’t get overly spooked by the rise in the unemployment rate,” Bunker wrote. “The labor market is still gliding toward a soft landing.”

Persons: ” Dean Baker, “, I’ve, Diane Swonk, ”, Wall, Chris Rupkey, FwdBonds, CEPR’s Baker, ” Baker, ” Thomas Simons, Jeffries, Nick Bunker, Bunker, “ Don’t, ” Bunker Organizations: CNN, Federal Reserve, Center for Economic, Policy Research, of Labor Statistics, KPMG, That’s, Index, Traders, BLS, Service, North America

☆ U.S. adds a much-better-than-expected 272,000 jobs in May, but unemployment rate edges up to 4%
▼ + stars: | 2024-06-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At the same time, the unemployment rate rose to 4%, the first time it has breached that level since January 2022. The increase came even though the labor force participation rate decreased to 62.5%, down 0.2 percentage point. The survey of households used to compute the unemployment rate showed that the level of people who reported holding jobs fell by 408,000. A more encompassing unemployment figure that includes discouraged workers and those holding part-time jobs for economic reasons held steady at 7.4%. The household survey also showed that full-time workers declined by 625,000, while those holding part-time positions increased by 286,000.

Persons: Dow Jones, you've, Liz Ann Sonders, Charles Schwab, Joe Raedle Organizations: Labor Department's Bureau of Labor Statistics, Getty Locations: U.S, Miami , Florida

☆ Sambuca: Italy’s cheap homes hot spot puts more up for sale
▼ + stars: | 2024-06-06 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +7 min

Previous successSicilian town Sambuca di Sicilia will be putting a batch of abandoned homes up for sale. Sambuca made global headlines back in 2019 when CNN announced that it was putting 16 dwellings up for sale for one euro. Revival hopesA selection of homes in the depopulated towns are going under the hammer for a symbolic 3 euros. Comune SambucaSambuca’s authorities took possession of the town’s abandoned houses after an earthquake struck the surrounding Belice Valley in 1969. Interested applicants can find photos and descriptions of the available homes, along with application forms, on the town hall’s official website.

Persons: Sicily’s, Simone Padovani, ”, Giuseppe Cacioppo, it’s, Cacioppo, Sambuca, Sambuca’s, Comune Sambuca Keen, who’ve, they’ve Organizations: CNN, “ Foreigners, Comune Locations: Sicilia, Italy, Rome, Belice, Sicily, “

☆ Young job seekers are finding it tougher to find employment, despite a bustling labor market: 'It was brutal'
▼ + stars: | 2024-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

Larock's experience comes at a time when, at least on the surface, the jobs market has continued to glide along. But worries are growing that the labor market is beginning to show cracks. Welcome to the good news-bad news labor market, where the collective experience is positive but not as much for individuals in particular groups. "But the bad news is that new entrants to the labor market are faring less well," Peng added. While Peng characterized the jobs market as "strong overall," she said there are "soft soft spots" that are particularly hitting "new entrants to the workforce."

Persons: Samantha McCloud, Victoria Garcia, Jessel Rincon, Irfan Khan, Julianna Larock, Larock, Jacqueline Novogratz, Michael Novogratz, Julianna LaRock, nonfarm, It's, Goldman Sachs, Elsie Peng, Peng, Molly Huang, it's, Huang, David Pakula, Cory Stahle, Joanie Bily, Bily, grads, Ethan Mariano, Mariano Organizations: Temple City High School, Los Angeles Times, Investment Partners, University of Delaware, Fordham, Bureau of Labor Statistics, Goldman, Penn State University, Vanguard, Gettysburg College, American University, State Department Locations: Temple City , CA, Wilmington , Delaware, New York City, New York, Horsham , Pennsylvania, U.S, Washington ,, Hazleton , Pennsylvania

From a broken freezer of spoiled food to a withered vegetable garden, house sitters can prevent disaster from striking while you kick back and relax. The most trusted pet-sitting appRover Pet-sitting and Dog Walking Rover is a one-stop-shop for everything pet care. For pet sitters, Rover's ability to set your own rates after passing the background check and safety quiz is a major perk. The best for pet-sitting businesses near youPet Sitters International Pet Sitting Certification Rather than a service platform, Pet Sitters International is a search engine pet owners and certification source for aspirational sitters. For pet owners, the organization offers an online database of registered pet sitters.

Persons: that's, it's, Meowtel Organizations: Business, Rover

☆ It finally looks like the US economy is sticking its soft landing
▼ + stars: | 2024-06-05 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

A soft landing is on the horizon, too — or already here depending on who you ask — and recent data reinforces that. AdvertisementThere has been a ton of moderation in this rate particularly when comparing recent changes to those seen in 2022, another sign pointing to a soft landing. AdvertisementThe soft landing might already be hereDavid Kelly, chief global strategist at J.P. Morgan Asset Management, believes the US has already achieved a soft landing. "To me, a soft landing is when the unemployment rate has basically hit its full-employment level, and the inflation rate is gradually coming down to a rate that's acceptable," Kelly said. Advertisement"In other words, a fairly comfortable soft landing with occasional turbulence," Draho added.

Persons: —, That's, it's, Joseph Briggs, Goldman Sachs, Briggs, Nick Bunker, Bunker, David Kelly, Kelly, Jason Draho, Draho, It's Organizations: Service, Business, Bureau of Labor Statistics, North America, UBS, Morgan Asset Management, UBS Global Wealth Management

☆ UK general election: Why the economy is the key issue
▼ + stars: | 2024-06-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Sunak will likely point to falling inflation and a strengthening economy as proof that his plan to “restore economic stability” is working. Here’s what data shows has happened to wages, living standards, the value of the pound, house prices and waiting times for medical treatment on the NHS. “Poor income growth has been an unfortunate feature of economic life in the UK over the last 15 years. On average, households now spend more than 29% of their after-tax income on rent, up from 24% in 2010, according to Zoopla, a property company. NHS waiting lists have grown steadily since the onset of the Covid-19 pandemic, contributing to worker shortages in the UK.

Persons: Rishi Sunak, Keir Starmer, Tony Blair, Sunak, YouGov, Labour Party Keir Starmer, Jeff J Mitchell, Alastair Grant, Tom Waters, “, —, Nick Ridpath, Liz Truss, “ Brexit, Clare Lombardelli, Brexit Organizations: London CNN, Conservative Party of, European Union, Labour Party, Labour, National Health Service, Conservatives, Britain's, Institute for Fiscal Studies, Conservative, Bank of England, Office, National Statistics, NHS Locations: Ukraine, United Kingdom, “, United States, Germany, Britain, England

☆ Investor home purchases jump for the first time in two years. Here's what that means for buyers
▼ + stars: | 2024-06-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

watch nowWhat an investor home purchase meansIn this context, investors are defined as any institution or business that purchases residential real estate, according to Redfin. Investor share refers to the portion of homes purchased by investors over a certain period, said Chen Zhao, senior economist at Redfin. Part of the recent increase in real estate investor activity is due to seasonality, as more homes are typically sold during the spring, Walsh said. Sales began to decline as mortgage rates climbed, as higher interest rates affect both typical homebuyers and investors, he said. What investor interest means for buyers and rentersIf you're a consumer buying on the market, you are competing against investors on top of other typical homebuyers, Zhao explained.

Persons: Chen Zhao, Zhao, Matthew Walsh, there's, aren't, Moody's, Redfin's Zhao, Walsh, Sales Organizations: Investor, Parcl Labs, Moody's, Investors, CNBC Locations: U.S

☆ A Wisconsin mom of 3 who made $250,000 secretly working 2 remote jobs said it allowed her husband to leave a stressful job and become a stay-at-home dad
▼ + stars: | 2024-06-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

For 18 months between 2020 and the end of 2021, Lisa secretly worked one fully remote job and a second hybrid job. When pandemic conditions eased, she thought her fully remote employer would pivot to a hybrid work schedule — and managing two hybrid jobs seemed impossible. Advertisement"It was a good career move at a time when I thought that remote work was going to disappear," she said. Lisa said she'd consider job juggling again if she could find two fully remote jobs that checked most of her boxes. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Lisa, who's, they'll, who've, It's, Lisa didn't, she'd Organizations: Service, Business, Bureau of Labor Statistics Locations: Wisconsin

☆ Summer heat will likely bring higher electric bills amid rising temperatures
▼ + stars: | 2024-06-03 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.

Persons: Mark Wolfe, ”, Wolfe, Diana Hernandez, Hernandez, “, ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke

☆ A millennial who retired at 32 explains the 'life happiness index' he used to decide to go back to work after 8 months
▼ + stars: | 2024-06-02 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

So he did just that, working slightly fewer hours but maintaining a strong balance between work, family, and hobbies. It's all part of his "life happiness index" that drives his financial and life decisions. Some wanted to resume their past jobs, while others looked to lower-stress roles like nonprofit or charity work. He keeps track of a "life happiness index," which he said is highest when he balances his work with family and hobbies. When considering his "final" retirement, he said he plans to work as long as he enjoys it.

Persons: Jace Mattinson, Mattinson, —, wasn't, He's, I've, he's Organizations: Service, Business, Dallas, Brigham Young University Locations: PwC, Dallas, Austin, Texas, Oklahoma

☆ Swing-district Republicans in New York decried Trump's conviction. It could cost them politically.
▼ + stars: | 2024-06-01 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFor GOP lawmakers on Capitol Hill, former President Donald Trump continues to wield immense power over their political futures. AdvertisementFormer President Donald Trump at his criminal hush-money trial in New York. But in a decidedly Democratic state like New York, Biden is likely to gain some ground ahead of the election. AdvertisementAcross the country, suburban voters were already turning away from Trump even before his conviction — as former UN Ambassador Nikki Haley has continued to win significant blocs of GOP voters even after suspending her presidential campaign in March.

Persons: —, Donald Trump, Trump, Stormy Daniels, Marc Molinaro, Anthony D'Esposito, Biden, Steven Hirsch, Mike Lawler, Attorney Alvin Bragg, Letitia James, Kathy Hochul, hyperpartisan, Nick LaLota, Hochul, Robert F, Kennedy Jr, it's, Nikki Haley Organizations: Service, Capitol, Business, Republicans, New York Police Department, Attorney, hyperpartisan New York Democrats, GOP, New York State, Emerson, Trump, Republican, New York House Republicans Locations: New York, New York City, Hudson, Manhattan, D'Esposito's, Democratic, Long, Trump

☆ FCC ends affordable internet program due to lack of funds
▼ + stars: | 2024-05-31 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —The Affordable Connectivity Program, which helped low-income Americans get online, is no more. The program’s lapse threatens to throw nearly 60 million Americans into financial distress, CNN has reported. The program officially ends on June 1, said the Federal Communications Commission, which administered the Affordable Connectivity Program (ACP) to approximately 1 in 5 households across the country and on tribal reservations. “The Affordable Connectivity Program filled an important gap that provider low-income programs, state and local affordability programs, and the Lifeline program cannot fully address,” said FCC Chairwoman Jessica Rosenworcel in a statement, referring to the name of another, similar FCC program that subsidizes wireless and home internet service. He also announced a series of voluntary commitments by a handful of internet providers to offer — or continue offering — their own proprietary low-income internet plans.

Persons: ”, Jessica Rosenworcel, Joe Biden, Mike Johnson didn’t, Biden, Kathryn de Wit, Wit, “ Organizations: Washington CNN, Program, Republicans, Democratic, CNN, Federal Communications Commission, Lifeline, FCC, Republican, Comcast, Cox, Verizon, ACP, Congress, Pew

☆ ‘Appeal to Heaven’ flag meaning: A closer look at the flag flown outside Alito’s house
▼ + stars: | 2024-05-31 | by ( Aj Willingham | ) edition.cnn.com time to read: +8 min

Like many flags and historical symbols, the Appeal to Heaven flag has multiple meanings and has been used in differing capacities. What is ‘An Appeal to Heaven?’The Appeal to Heaven flag, or “Pine Tree” flag, features a green pine tree on a white field, with the words “An Appeal to Heaven” in black text above it. The pine tree retained this meaning of resistance, and has appeared on some state flags and seals. However, the polarizing recent history of the Appeal to Heaven flag is starting to become known. This week, the city of San Francisco made the decision to remove an “Appeal to Heaven” flag that flew alongside several other flags over City Hall.

Persons: Samuel Alito, Mike Johnson’s, George Washington’s, Alito, Johnson, ”, John Locke’s “, Donald Trump, Trump, Carolyn Kaster, Jemar Tisby, Tisby, Barack Obama’s, Sheets, “ It’s, it’s, ” Sheets, “ There’s, Mike Johnson, CArlos Barria, George Washington, “, ” Alito, San Francisco, Daniel Montez, Josh Du Lac Organizations: CNN, American, Continental Army, Trump, Simmons College, Tea Party, Republican, Christian, Associated Press, ’, City, Francisco Recreation, Parks Locations: New Jersey, Massachusetts, San Francisco’s, British, New England, Washington ,, Kentucky, Gadsden, Ohio, San, Francisco

☆ Bank of America CEO says U.S. consumers and businesses have turned cautious on spending
▼ + stars: | 2024-05-30 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. That's a sharp slowdown from the nearly 10% growth rate seen in May 2023, he said. Referring to consumers and businesses, Moynihan said: "Both of our customer bases that have a lot to do with how the American economy runs are saying, 'You know what? The same is true for small- and medium-sized businesses, the Bank of America CEO said. Moynihan and other bank CEOs have a birds-eye view of the economy, given their coast-to-coast coverage of households and companies.

Persons: Brian Thomas Moynihan, Brian Moynihan, Moynihan, That's, We've, They're, JPMorgan Chase Organizations: of America, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Bank of America, The Fed, U.S, JPMorgan, Fed Locations: Washington , U.S, New York, McDonald's, U.S

☆ Trump has been convicted. Here's what happens next
▼ + stars: | 2024-05-30 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +5 min

The judge before adjourning Thursday afternoon set Trump's sentencing date for July 11 at 10 a.m. Trump's sentence could include fines and restitution, probation or other conditions — but a sentence of imprisonment is not off the table. Merchan has broad discretion to determine Trump's sentence, and he can factor all sorts of things into his final decision. The judge also previously accused Trump of trying to "intimidate" the court, prompting an expansion of the gag order that Trump would later violate 10 times. Gershman told CNBC that a jail sentence is "certainly plausible," and that it "would not be out of bounds" for Merchan to sentence Trump to some time behind bars.

Persons: Donald Trump, —, Joe Biden, Trump's, Justin Lane, Judge Juan Merchan, Trump, Merchan, Michael Bachner, Bennett Gershman, I'd, Bachner, Gershman, incarcerating Organizations: Republican, Reuters, Trump, New, Pace Law, CNBC Locations: York, U.S, New York, New York , New York, USA, New York City, United States

☆ Walgreens is cutting prices on 1,500 items, joining Target, Walmart and Amazon
▼ + stars: | 2024-05-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens is joining other retailers in cutting prices across the board, from snacks to toiletries and even Squishmallows, in an effort to lure back inflation-weary shoppers turned off by high prices. Prices are dropping immediately on more than 1,500 items online and at its stores, which include both name and store brands, Walgreens announced Wednesday. In the past few weeks, competitors including Target, Walmart and Amazon slashed prices on thousands of household goods to rev up consumer spending. “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” said Tracey D. Brown, Walgreens’ retail president and chief customer officer, in a release. Meanwhile, a host of other retailers report earnings Thursday, including Dollar General and Costco.

Persons: ”, Tracey D, Brown, “, we’ve, Alliance’s, isn’t, Sarah Wyeth, “ There’s, ” Wyeth, Parija Kavilanz Organizations: New, New York CNN, Walgreens, Target, Walmart, Dollar, Costco, Shoppers Locations: New York

☆ Global debt has grown to $315 trillion this year — here's how we got here
▼ + stars: | 2024-05-29 | by ( Nessa Anwar | ) www.cnbc.com time to read: +2 min

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic. Around two-thirds of the $315 trillion owed originates from mature economies, with Japan and the United States contributing the most to that debt pile. Of the $315 trillion debt stock, household debt, which includes mortgages, credit cards and student debt, among others, amounted to $59.1 trillion. Business debt, which corporations use to finance their operations and growth, stood at $164.5 trillion, with the financial sector alone making up $70.4 trillion of that amount.

Persons: — Organizations: Institute of International Finance, United Locations: Japan, United States, China, India, Mexico

☆ More people will never own a home — they're the 'forever renters'
▼ + stars: | 2024-05-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

These "forever renters" vary widely in their reasons for not pursuing home ownership. Others prefer the flexibility to move and freedom from ownership costs that renters enjoy. Homeownership and renting have numerous pros and cons, making it hard to say whether forever renters are acting shrewdly or making a big mistake. Renters avoid large down payments and the varying costs of homeownership, such as mortgage payments, taxes, maintenance, and repairs. It's also cheaper to change the place you're renting than the place you're buying because of real-estate agent fees."

Persons: —, Grant Wilson, Eunjee Kwon, David Brasington, Kautz, There's, Colin Lizieri, they've Organizations: Service, Business, University of Regina, University of Cincinnati, University of Cambridge Locations: Germany, Switzerland

Miss Kim brought in $1.89 million in sales in 2023 and made a net profit of $101,553 for the fiscal year from August 2022 to July 2023. "I started wondering, if I had Korean food or Asian food and I was able to tell this story…what would that look like?" In the fiscal year from August 2016 to July 2017, Miss Kim brought in $699,877 in sales, according to Kim. Doing away with tippingToday, Miss Kim is profitable and thriving, with total sales of $1.89 million in 2023. When Miss Kim first opened, "we decided that we're going to do away with tipped credit and pay people living wage."

Persons: Ji Hye Kim, Kim, Ann Arbor, Miss Kim, Young Kim, Hye Kim Kim, Paul Saginaw, Ari Weinzweig, Zingerman's, Hye Kim, she'd, It's, Kim didn't, Zach Green, Marisa Forziati Organizations: CNBC, U.S, University of Michigan, Dancing Sandwich Enterprises, Miss Locations: South Korea, New Jersey, Ann, Zingerman's, Ann Arbor, Michigan, New York, Saginaw, Korea, Ann Arbor , Michigan, gochujang, U.S, United States, Miss

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