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☆ 8 investments to make now as the Federal Reserve risks a recession by going 'way overboard' in raising interest rates, according to 7 top economists and strategists
▼ + stars: | 2023-02-02 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Since March, Rosenberg has warned that by trying to crush inflation, the Fed would inadvertently kill the economy as well. "I think that the odds now are that it's going to be more severe than people think because the Fed has gone way overboard," Rosenberg said of a recession. The contrarian view: With inflation falling, a recession is no guaranteeHowever, not every strategist thinks that a recession is a sure thing. But what I think we can see is the Federal Reserve is overdoing it and eventually, the Fed will have to cut rates." Fittingly, Parker's bets are contingent on his view that the US economy won't suffer from a severe recession.

For Love & Money is a biweekly column from Insider answering your relationship and money questions. Financially, if you and your wife have enough cash to survive, adding in a tiny baby won't bankrupt you. You mentioned that you haven't bought a house, haven't traveled, and in general, feel that this baby means you won't be able to afford your dreams. And you'll probably spend the whole trip telling your wife how you'll have to come back with the kid. Rooting for you,For Love & Money

☆ TikTok and its parent company spent about $5.4 million on federal lobbying last year as it faced renewed threats of a ban
▼ + stars: | 2023-01-25 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

TikTok and its parent company ByteDance spent about $5.4 million on federal lobbying in 2022. TikTok and its parent company ByteDance spent about $5.4 million on federal lobbying in 2022, a roughly 4% increase from the previous year, according to year-end disclosures filed by the companies and their hired lobbying firms on Friday. While ByteDance's and TikTok's lobbying spend remained relatively flat between 2021 and 2022, both years represented a significant spike from 2020 when the companies spent around $2.6 million. In late 2020, the Trump administration attempted to ban TikTok's app from US app stores. TikTok's app has faced similar government-device bans at the state level.

☆ Venezuelans describe dangers and desperation amid U.S. asylum changes
▼ + stars: | 2023-01-18 | by ( Albinson Linares | Noticias Telemundo | ) www.nbcnews.com time to read: +11 min

MEXICO CITY — Mariantonela Orellana spent nine days in the dangerous Darien Gap jungle in the Colombia-Panama border, and she described her nightmarish ordeal. Now back in Mexico, migrants wrestle with whether to try to stay in Mexico, keep trying to seek asylum in the U.S. or return to Venezuela. According to Department of Homeland Security data, the flow of Venezuelan migrants to the U.S. increased by almost four times compared to the year prior. Mexican authorities approved 61% of asylum applications from January to November, including at least 90% of approvals for Hondurans and Venezuelans. “I left Venezuela because the discrimination against the LGBT community is terrible; we are trampled on and attacked every day.

☆ California floods strike at planners’ blind spots
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 11 (Reuters Breakingviews) - If California’s budget speaks to lawmakers’ prognostications, flooding wasn’t supposed to be such a big issue. But a current deluge of rainfall makes it clear that planning for disasters needs to be broader and more proactive. Flooding along the state’s coast is expected to cost California more than $1 billion, the Los Angeles Times reported Tuesday. While the California Senate called for extra flood protection in May, the budget only set aside $246 million for risk prevention. Municipal spending was painfully low with state and local authorities spending $48 million annually.

The GOP-controlled House passes a rules package for 118th Congress with just one GOP defection, NBC’s Kyle Stewart reports. ... President Biden spends his final day in Mexico City at North American Leaders’ Summit. But first: The news that the Justice Department is reviewing Obama Era classified documents found at a think tank tied to President Biden is quite a political gift to Donald Trump. “When is the FBI going to raid the many homes of Joe Biden, perhaps even the White House?” Trump posted on his Truth Social account. 6: The number of shootings recently at or near the homes of New Mexico Democratic political leaders, including the incoming state House speaker.

☆ How Anti-Abortion Activists Bought Access to the Supreme Court
▼ + stars: | 2023-01-07 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +29 min

In exchange for as little as a few thousand dollars in contributions to the nonprofit, these people received easy access to events where Supreme Court justices would be. Supreme Court Historical society trustee Jay Sekulow, center, represented President Trump during the latter's impeachment trial in 2020. Anti-abortion advocates cheer in front of the Supreme Court after the decision in Burwell v. Hobby Lobby Stores was announced in 2014. Alito did not respond to a request for comment on his involvement in the Supreme Court Historical Society. Supreme Court justices, though, aren't even required to stay within those weak guardrails because no code of ethics governs justices' behavior.

☆ Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges
▼ + stars: | 2023-01-03 | by ( Farah Master | ) www.reuters.com time to read: +5 min

But their 10-year, shortened contracts come at a time when COVID-19 restrictions have decimated Macau’s gambling revenues, with 2022 the worst annual performance on record. Non-gaming revenues, which averaged around 5% of overall gaming revenues pre-COVID, must grow to more than 30% in the next decade, said Ben Lee, founder of Macau gaming consultancy IGamiX. Macau, a densely packed territory located on China’s southern coast, is the only place in the country where gambling in casinos is legal. Increased regulatory oversight comes as Macau casinos face much higher debt levels versus 2019. Macau has few direct flights from potential markets outside China, while transport within the city is limited to move large groups of people around, said David Green, head of Macau gaming consultancy Newpage.

☆ The 10 biggest winners in the S&P 500 this year were led by an oil giant Warren Buffett owns. The top stocks saw a combined $357 billion increase in market value.
▼ + stars: | 2022-12-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Oil stocks dominated the S&P 500's top 10 winners this year as commodity prices spiked. These are the index's 10 best performing stocks in 2022, which added a combined $357 billion in market value. Buffett also owns a stake in Chevron, which was the 17th best S&P 500 performer in 2022 with a gain of about 50%. Combined, the top 10 performing S&P 500 stocks in 2022 added a total of $357 billion in market value. SchlumbergerThe exterior of a Schlumberger Corporation building is pictured in West Houston ReutersTicker: SLB2022 Return: 76.7%Market Value Gained: $33.5 billion5.

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☆ This woman lives debt-free in a tiny home village – and found a new type of family
▼ + stars: | 2022-12-31 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

The owners of the community said about 70% of its residents are single women over 45. The home was designed by Incredible Tiny Homes, which made some adjustments to the property at Runyon's request. Runyon is one of several residents able to go largely debt-free by living in low-cost dwellings made by Incredible Tiny Homes. Incredible Tiny HomesRandy Jones, the owner of Incredible Tiny Homes, began building a tiny home community which has grown into a thriving village of more than 170 people. He now makes hundreds of tiny homes a year.

☆ Seven S&P 500 sectors will see earnings contract in the fourth quarter, Refinitiv estimates show
▼ + stars: | 2022-12-29 | by ( Robert Hum | ) www.cnbc.com time to read: +2 min

Fourth-quarter earnings estimates have been falling in recent weeks, with the current Refinitiv consensus predicting the first earnings contraction since the third quarter of 2020. Although this would be the first drop since 2020, there has been plenty of slowing growth prior to this earnings season. That projection was halved before the start of last earnings season three months ago. That might provide some optimism for what's in store during Q4 earnings season. The first-quarter earnings growth rate is sitting at a precarious positive 1.4%.

☆ Sam Bankman-Fried finds sympathy from Bahamians after the FTX implosion - but local rules make it very unlikely they were ever invested in crypto
▼ + stars: | 2022-12-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried has found sympathy from Bahamians after his crypto empire imploded, according to a New York Times report. One reason Bahamians may express sympathy towards SBF is because of local laws that make it difficult for them to invest in crypto. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. His presence in the Bahamas attracted well-to-do investors to the island via crypto conferences. That's because local rules make it difficult for Bahamians to buy cryptocurrencies, as there are various hurdles they need to navigate.

☆ Sam Bankman-Fried's bail was set at a whopping $250 million — but that's still much less than some monster bonds. Here are some of the biggest.
▼ + stars: | 2022-12-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Sam Bankman-Fried's $250 million bail is one of the largest ever posted. But one friend of Donald Trump has also posted that amount, with others set in the billions. Many were reduced on appeal, like a Texas murderer's $4 billion that was set by a grumpy official. But SBF's massive bail pales in comparison with the $3 billion set for Robert Durst in 2003, or a Texas murderer's $4 billion. They were later reduced on appeal, but Trump associate, Tom Barrack, has also posted $250 million for bail.

☆ Washington moved fast to crack down on TikTok but has made little progress with Big Tech
▼ + stars: | 2022-12-22 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

But in fast-tracking the bill, Congress can’t help but draw attention to its notable lack of progress on regulating American tech giants more broadly — despite years of reports, hearings and proposed legislation. Washington finds a different tech villainThe tech industry’s largest players have faced a kitchen sink of allegations in recent years. The central allegation against TikTok is that the company poses a potential national security risk. But earlier this year, it acknowledged that China-based employees can access TikTok user data and declined to commit to cutting off those data flows in general. “We’re disappointed that Congress has moved to ban TikTok on government devices—a political gesture that will do nothing to advance national security interests—rather than encouraging the Administration to conclude its national security review,” said Brooke Oberwetter, a TikTok spokesperson.

☆ Expert on White House chiefs of staff says Mark Meadows 'absolutely owns' the title of 'worst' chief in history after ex-aide's damning testimony
▼ + stars: | 2022-12-19 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +11 min

The historian Chris Whipple said Mark Meadows was the worst White House chief of staff in history. The author Chris Whipple, who has interviewed dozens of White House chiefs of staff, said that Cassidy Hutchinson's shocking testimony before the House January 6 committee has made it abundantly clear that Mark Meadows is by far the "worst" White House chief of staff in history. On December 19, the panel released an executive summary of its findings that was harshly critical of Meadows' book "The Chief's Chief." Whipple wrote the literal book on White House chiefs of staffABC's George Stephanopoulos interviews the author Chris Whipple in 2017. "I've said oftentimes that being White House chief of staff is perhaps the second most powerful job in Washington, D.C.

☆ North Korea says its new spy satellite hit a major milestone, but it may be 'too crude' to be useful
▼ + stars: | 2022-12-19 | by ( Park Chan-Kyong | South China Morning Post | ) www.businessinsider.com time to read: +6 min

North Korea launched a rocket carrying a test satellite was launched on Sunday. The rocket carrying the test satellite was launched on Sunday to assess its photography and data transmission systems, state media said. North Korea launched Hwasong-17 ICBMs in February and March, claiming they were spy satellite test launches. South Korea, Japan and US authorities on Sunday said they detected a pair of ballistic-missile launches by North Korea from its northwestern Tongchang-ri area, where the North's satellite launch pad is located. North Korean leader Kim Jong Un and his daughter with what North Korean media called a Hwasong-17 ICBM in Pyongyang on November 18.

☆ 1 in 5 studio films included an LGBTQ character in 2021, GLAAD report finds
▼ + stars: | 2022-12-15 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +6 min

Sixteen of the 77 films released by those studios (20.8%) featured 28 LGBTQ characters, the report found. That percentage is down slightly from 2020, during which 10 of the 44 theatrical releases (23%) featured 20 LGBTQ characters, according to the report. Of the 16 films that included LGBTQ characters in 2021, 11 films (69%) included gay male characters, four (25%) included lesbian characters and two (13%) included bisexual characters, according to the report. For the second year in a row, GLAAD found that there were zero LGBTQ characters with disabilities or LGBTQ characters living with HIV represented in the year’s films. The majority of the 28 characters, 17, received fewer than five minutes, and six of those characters received less than a minute of screen time.

☆ It’s not the most wonderful time of the year for markets. Here’s why
▼ + stars: | 2022-12-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —The holidays are meant to be the most wonderful time of the year. But for investors, this week just might be the most stressful time of the year. Then there’s the anticipated central bank meeting. “Most central banks will be reluctant to cut rates in 2023 given the need to cool wage growth.”It has all given the equity and fixed markets a jolt. Maybe investors will be able to relax and take a deep breath before the Fed announcement and press conference later that day.

Bakhmut has been facing the relentless firepower of a frustrated Russian army for months. There was blood everywhere.”Vyacheslav Tarasov, a 48-year-old builder, lost his right arm after shelling in Bakhmut. Peter Rudden/CNNSurgeon Yuri Mishasty treats civilians injured in nearby Bakhmut every day. Jo Shelley/CNNAs the Russian army intensifies its campaign to take Bakhmut, the shelling comes ever nearer to Kostiantynivka, 25 kilometres (about 15 miles) to the west. Since the beginning of the month, the town has been hit almost every day, the hospital director says.

The thing is, if you're going to open a credit card, a store card is rarely, if ever, your best option. Note that credit card lenders may use many different variations of credit score models when considering your application. Their interest rates are astronomicalIf you thought travel credit card interest rates were high, check out the rates on store credit cards. And that limit isn't exclusive to those who have taken out five of Chase's credit cards in the last 24 months, either — it applies to any credit card (except certain business cards), including store credit cards. Luckily, there are multiple ways to make sure you're getting a much better return on your retail spending, even without a store credit card.

☆ What’s gone wrong at Beyond Meat
▼ + stars: | 2022-12-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

And fierce competition is squeezing sales, including in frozen, plant-based chicken, a category that is growing while refrigerated plant-based meat sales falter. “We believe that healthy competition within plant-based meat is a good thing as it brings investment in marketing to the category,” said Brown during the November analyst call. It’s true that the plant-based meat pie is smaller these days. Ground plant-based meat fell about 19%, and patties were down 30% in that period. It launched a retooled version, Beyond Chicken Tenders, in stores in 2021, and has built its plant-based chicken portfolio since then.

☆ Biden's student-debt relief reform plans are paving the way for an 'untold amount about to be billed to the American people,' GOP House lawmakers say
▼ + stars: | 2022-12-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

House Republicans continue to criticize Biden's student-debt relief plans. They said Americans will be billed an "untold amount" from proposed reforms to repayment plans. As broad debt relief remains stalled in court, Biden has moved forward with other targeted reforms for borrowers. "There is an untold amount about to be billed to the American people," they wrote. "The sooner we defeat GOP officials' baseless legal action, the sooner we can deliver student debt relief to hard-working Americans."

☆ Factbox: When it comes to spending big on elections, few can challenge America
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +3 min

While readily-comparable numbers aren't available across nations, India's spending in 2019 was at least in the neighborhood of the estimated $8 billion spent on U.S. federal elections in 2016, the year Republican Donald Trump won the White House. In the United States, campaigning often begins more than a year before election day and regulators put no limits on spending by campaigns. FRANCEFrance also places strict limits on spending. During France's presidential elections in 2022, all 12 candidates combined spent just over 83 million euros, or about $88 million, according to the French government. President Emmanuel Macron spent the most, with his campaign spending 16.7 million euros.

CNN —England soccer star Raheem Sterling is returning home from the World Cup in Qatar after armed intruders broke into his home while his family were inside, a person with knowledge of the situation told CNN. The incident happened on Saturday evening, the individual told CNN, and Sterling is said to be “shaken” and “concerned” about the well-being of his children after the break-in. “Police were contacted just before 9pm on Saturday December 3rd after the occupants of the property came home and discovered a number of items including jewellery and watches had been stolen,” a spokesperson from Surrey Police told CNN. We’re obviously mindful of him being allowed space and privacy respected so we don’t want to talk in too much detail. The Chelsea forward played in England’s first two games in the group stages of the World Cup and scored in the team’s 6-2 victory against Iran.

☆ Raheem Sterling: England star leaves Qatar after intruders break into family home
▼ + stars: | 2022-12-05 | by ( Cnn Sport Staff | ) edition.cnn.com time to read: +2 min

CNN —England soccer star Raheem Sterling is returning home from the World Cup in Qatar after intruders broke into his family home. Surrey Police told CNN on Monday that it is investigating a report of a burglary at an address in Oxshott, Leatherhead after the occupants returned home from an international trip. “Officers attended the address later that night and returned to speak to the occupants this morning,” said a police statement. England faces France in the World Cup quarterfinals on Saturday. The Chelsea forward played in England’s first two games in the group stages of the World Cup and scored in the team’s 6-2 victory against Iran.

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