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☆ Michael Burry, Elon Musk, and Mark Zuckerberg are raising the alarm on the US economy. Here are 8 recession warnings from top commentators this week.
▼ + stars: | 2022-12-03 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Michael Burry and Elon Musk this week flagged the risk of a severe US recession. Experts have flagged inflation, rising interest rates, and global growth headwinds as major worries. Several of these experts blame the Federal Reserve, which has rapidly raised interest rates to curb soaring prices this year, leaving consumers facing both higher living expenses and borrowing costs. Elon Musk, CEO of Tesla, Twitter, and SpaceX"Fed needs to cut interest rates immediately. Mark Zuckerberg, CEO of Meta"We thought that the economy and the business were going to go in a certain direction, and obviously it hasn't turned out that way.

☆ Man who punched 67-year-old Asian woman 125 times in N.Y. gets 17 years in prison
▼ + stars: | 2022-11-30 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

A New York man who was caught on video punching an elderly Asian woman 125 times earlier this year was sentenced to over 17 years in jail in connection with the hate crime attack, officials announced Tuesday. In the brutal assault he called the woman of Filipino descent an “Asian b----” and she was left suffering bleeding on her brain and multiple facial fractures. She said the victim and her family worked with the district attorney's office all while recovering from her injuries. Yonkers Police Commissioner Christopher Sapienza said there was no relationship between the two, and the incident was an isolated attack. "As the attack happened, all I could think was, ‘Please Lord let me live, please Lord my daughters need me,'" she continued.

☆ What protests in China may mean for the economy
▼ + stars: | 2022-11-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN Business —Protests against China’s prolonged and restrictive Covid regulations spread across the country over the weekend. Oil plunged and hit 2022 lows on Monday, while shares of companies that rely on China for production felt the heat. Oil prices dropped sharply, with investors concerned that surging Covid cases and protests in China may sap demand from one of the world’s largest oil consumers. They don’t want to end their covid policy but they also want to ensure that the political unrest doesn’t grow. This week is chock full of important economic data releases, many of which will help guide the Fed’s next interest rate hike decision in December.

☆ The Fed just crushed hopes of rate cuts anytime soon - and the US economy will suffer stagflation next year, a top strategist says
▼ + stars: | 2022-11-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Fed officials said the inflation fight isn't over and they don't expect to cut interest rates soon. Their words were a "reality check" and "bucket of cold water" for investors, Christopher Smart said. The top strategist expects weak growth, stubborn inflation, and rates to peak around 5% next year. Instead of rebounding, the US economy will shrink and face stubborn price increases next year, Christopher Smart has said. "It is a reality check," Barings' chief global strategist continued, noting investors have repeatedly shrugged off the Fed's hawkish messaging in recent months.

Military veteran Richard Fierro's selfless response when a gunman opened fire in a Colorado gay club is being lauded by the nation's oldest Latino civil rights organization. He said he did what he was trained to do as a 15-year Army veteran who did tours in Iraq and Afghanistan. Fierro and Jessica, who live in Colorado Springs, own a brewery called Atrevida, which in Spanish means brazen. 'Leaped into the breach'The nation's string of mass shootings in recent years have claimed the lives of many Latino victims. He said LULAC invited Fierro and his family to Washington, D.C., to receive the award or it would give it to him in a ceremony in Colorado Springs.

☆ Everyone from the vet to the barber is hiking prices. And there’s no relief in sight
▼ + stars: | 2022-11-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

And that’s exactly where inflation can get “sticky,” meaning once prices for services rise they tend to remain at those levels for some time. “When you have strong price pressures in the services sector, they’re likely to last longer,” Nicaj said. That’s the risk that you also take as a business raising prices, because you may lose clients.”To Ryczko, it’s a strategic balancing act. Courtesy Genora Boykins and Sharon Owens“I don’t know of any goods that we are utilizing that haven’t increased in cost,” Boykins said. “Even if it doesn’t necessarily turn around, at least you don’t want [prices] to continue to escalate month after month after month.”

The theatrical release comes after the project appeared last month at New York’s premier LGBTQ film festival, NewFest. The film, which is loosely based on Bratton’s life, focuses on the challenges the main character, Ellis French, experiences as a young gay Black man during the military’s “don’t ask, don’t tell” era. However, in describing his tumultuous family life, Bratton recalled the time his mother invited him to film his sister’s school graduation. Prior to “The Inspection,” Bratton directed other LGBTQ projects, including the 2019 documentary “Pier Kids,” about queer and transgender youths living at Manhattan’s Christopher Street Pier. Bratton described Union as a dedicated ally for the LGBTQ community — who revived his mom for the world to see.

☆ Trump laughed at coverage of Pence refusing to eat alone with women who weren't his wife, according to new book: 'Now they're attacking Mike for being faithful to his wife!'
▼ + stars: | 2022-11-15 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +3 min

Former Vice President Mike Pence had a rule to never dine alone with a woman who wasn't his wife. Trump thought it was funny and ironic, Pence writes in his new book. Numerous commentary followed, much of it accusing Mike Pence of disadvantaging women's careers. Mike Pence wrote that Trump "saw the irony" of the coverage about the "Pence Rule." In response to the reports, Pence writes, Trump often quipped that his vice president was "way ahead of his time!"

☆ Stock market rally will be put to test in week ahead, after yields fall and tech surges
▼ + stars: | 2022-11-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +10 min

This week, bond yields also came off their highs and were sharply lower, paving the way for gains in tech and growth shares. They include Fed Vice Chair Lael Brainard, New York Fed President John Williams and Minneapolis Fed President Neel Kashkari to name a few. Hogan said that group includes Bullard, Brainard and San Francisco Fed President Mary Daly. Many strategists are calling the move higher a bear market rally, and some expect it will fizzle in December while others say it could continue into the new year. Friday Earnings: JD.com, Foot Locker, Buckle 8:40 a.m. Boston Fed President Susan Collins 10:00 a.m.

☆ Premarket stocks: Markets are in trouble. Election results won't change that
▼ + stars: | 2022-11-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN Business —The results of Tuesday’s midterm elections will set the agenda for the next Congress. But when it comes to the stock market, this election ranks fairly low on the list of things investors should worry about. But stocks have a bigger problem than who takes the House or Senate: The possibility of a recession ahead. Politics have taken a less central role in recent discussions with investors than they have in past election cycles, they added. The bottom line: When it comes to the next big market catalyst, investors should look to the Fed, not Congress.

☆ What will the Fed do next? Follow the economy, not what Jerome Powell says
▼ + stars: | 2022-11-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But Fed Chair Jerome Powell dashed those hopes during his press conference when he talked about how the Fed is still extremely worried about inflation. Here’s the thing, though: Investors are paying way too much attention to what Powell and other Fed members are saying about the economy and not focusing enough on numbers that show how the economy is actually doing. So much can change and there is always a constant flood of new data (and new speeches from Fed policy makers) to digest and parse. Keep an eye on that data more than Fed speeches and volatile interest rates futures. And the fed funds rate futures are going to keep changing based on what the latest economic reports look like.

☆ Here’s why 75% of likely voters think we are in a recession — even though we’re probably not
▼ + stars: | 2022-11-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN Business —A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. The technical definition of a recession is two consecutive quarters of economic contraction, which the US economy recorded in the first half of the year. Still, the economy feels bad to the majority of Americans ahead of next week’s midterms. But that’s still the highest since the early 1980s, and it’s the first time many younger people have ever experienced inflation. But that dip may not be enough to buy Democrats any goodwill among voters, given the elevated costs of every other necessity.

The former Michigan police officer who fatally shot Patrick Lyoya during a traffic stop in Grand Rapids in April will stand trial for the killing, a judge ruled Monday. Judge Nicholas Ayoub said enough evidence was presented in a preliminary hearing to require a jury to decide whether Christopher Schurr was justified in shooting Lyoya. These are questions of fact that the jury must decide based on the totality of the circumstances as presented by the evidence at trial,” Ayoub said in court order. The officer ended up restraining Lyoya with his knee to his back and ultimately shot him as he was facedown on the ground. Patrick Lyoya, 26, was shot and killed on April 4, after what police said was a traffic stop.

☆ Malta to maintain energy prices at pre-COVID levels
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

VALLETTA, Oct 24 (Reuters) - Malta's government said on Monday it would spend 10% of its recurrent expenditure next year to maintain a freeze on energy and fuel prices. Register now for FREE unlimited access to Reuters.com Register"Without this measure, economic growth would have been halved. You would have been asking me how many businesses are expected to close and how high unemployment is expected to reach," Caruana told reporters. "Our economic growth projections are still double the European average," he said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Christopher Scicluna; Editing by Crispian BalmerOur Standards: The Thomson Reuters Trust Principles.

Improvements are needed to make sure the same ad doesn’t appear too often and to ensure the TV is on when ads are shown, experts say.

☆ How Consumers React When They Buy an Item on Back-Order
▼ + stars: | 2022-10-19 | by ( Lisa Ward | ) www.wsj.com time to read: 1 min

Journal Reports: LeadershipEverybody Talks About Made in America. But It Isn’t That Simple. By Tinglong Dai , and Christopher S. TangWhy reshoring—bringing manufacturing back to the U.S.—is so hard.

☆ Analyst who provided Trump-Russia dossier information acquitted of lying to FBI
▼ + stars: | 2022-10-18 | by ( Julia Jester | Julia Jester Is A Producer For Nbc News Based In Washington | ) www.nbcnews.com time to read: +5 min

Prosecutors alleged Danchenko provided false information to the FBI in 2017 when the agency was trying to verify information in a dossier detailing Trump’s alleged ties to Russia that was compiled by former British spy Christopher Steele. The largely unsubstantiated dossier was used by the FBI to support its surveillance of former Trump campaign aide Carter Page. Millian has denied being a source of information for the dossier. When asked by the FBI whether he had talked to Dolan for the information, Danchenko said he had not. Trump had called the dossier fake news and evidence of a political witch hunt against him.

☆ Igor Danchenko Acquitted of Lying to FBI About Trump-Russia Dossier
▼ + stars: | 2022-10-18 | by ( Aruna Viswanatha | ) www.wsj.com time to read: 1 min

ALEXANDRIA, Va.— Igor Danchenko , a consultant whose information comprised the bulk of the 2016 “Steele dossier,” was acquitted Tuesday of lying to the FBI, leaving special counsel John Durham with losses in both cases he took to trial as his yearslong inquiry into the FBI investigation into Russian interference in the 2016 election winds down. Over four days in federal court outside Washington, D.C., Mr. Durham sought to portray Mr. Danchenko as fabricating one of his own sources and concealing another one when the FBI questioned him in 2017 about where he obtained the allegations he provided to ex-British spy Christopher Steele , who was paid by Democratic operatives to collect opposition research on then-presidential candidate Donald Trump and alleged ties to the Kremlin.

☆ Recession or not, investments in this sector have shown resilience in tough times
▼ + stars: | 2022-10-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +13 min

Boston Beer has an average analyst rating of hold and 8% downside to the average price target, according to FactSet. "In a recession, beer tends to gain about one percentage point of share from spirits. How to play the space With that mindset, you shouldn't alter your long-term investments because of a potential recession, Sarwat said. Its average price target is buy. Duckhorn also has an average rating of buy, with 30% upside to the average price target.

☆ Artists say AI image generators are copying their style to make thousands of new images — and it's completely out of their control
▼ + stars: | 2022-10-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +11 min

"My name is being used a lot to generate AI images, along with the names of other working artists." "So if an AI is copying an artist's style and a company can just get an image generated that's similar to a popular artist's style without actually going to artists to pay them for that work, that could become an issue." Representatives from Open AI said both publicly available sources and images licensed by the company make up DALL-E's training data. Copyright laws around AI images are murkyIt's unclear whether copyright laws will protect the new artwork that AI programs generate. "I have friends in the industry who will storm out of the room if I even bring up using AI," he said.

☆ Malta demonstrators mark five years since Daphne Caruana Galizia's murder
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +3 min

People take part in a protest march on the fifth anniversary of the assassination of anti-corruption journalist Daphne Caruana Galizia, in Valletta, Malta October 16, 2022. REUTERS/Darrin Zammit LupiVALLETTA, Oct 16 (Reuters) - Demonstrators in Malta marked five years since the car bomb murder of anti-corruption journalist Daphne Caruana Galizia on Sunday, two days after two brothers admitted to her killing and were each sentenced to 40 years in prison. Many of those present carried pictures of Caruana Galizia and Maltese flags. She said Caruana Galizia was: "A Woman of Steel, because she was a woman of principle, a woman who could tell right from wrong". No government representatives were present at the demonstration but Prime Minister Robert Abela said earlier that Caruana Galizia's death was a dark episode "that we must learn from".

☆ FBI offered former British spy behind the discredited 'pee tape' dossier up to $1m to prove Trump-Russia links, report says
▼ + stars: | 2022-10-15 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

The FBI offered a British ex-spy up to $1m to prove Trump's ties to Russia, per The Times of London. A senior FBI analyst revealed this during the trial of the Steele dossier's primary source — Igor Danchenko. Christopher Steele could not verify his allegations, and the money was not paid out. Danchenko, a Russian citizen, was sent by Steele to search for material on Trump, The Times said. The Mueller report contained passing references to some of the allegations in the dossier.

NewFest, New York’s premier LGBTQ film festival, returns for its 34th annual celebration of queer media. While there are many must-see films at this year’s festival, here are a five to add to your watch list. The film stars Emmy-nominated actor Jeremy Pope (“Hollywood”) as a young gay man who joins the Marines after a decade living on the streets. Previously, Bratton translated his experiences into documentaries about LGBTQ subjects, including 2019’s “Pier Kids,” about queer and transgender youths living at Manhattan’s Christopher Street Pier. The film’s stars include Flaherty, Wyatt Fenner, Joey Taranto and Kiyon Spencer.

☆ Inflation: Is the Fed losing the war?
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

“This inflation report today was an unmitigated disaster,” wrote Christopher S. Rupkey, chief economist at Fwdbonds, a financial markets research company. Is the Fed losing the fight against inflation? But the effects of rate hikes can take months to be felt in the real economy. But the Fed is “losing the war” when it comes to price hikes for the services sector. Ultimately, some say the problem of pandemic-era inflation is just too complex to be fixed with the Fed’s blunt tools.

☆ The Fed is losing the war against inflation
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

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