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☆ When mortgage rates hit 5% expect a flood of housing inventory, says Compass CEO Robert Reffkin
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhen mortgage rates hit 5% expect a flood of housing inventory, says Compass CEO Robert ReffkinRobert Reffkin, Compass CEO, joins 'Closing Bell Overtime' to discuss the latest housing data, the state of the Real Estate space, and more.

Persons: Robert Reffkin Robert Reffkin Organizations: Compass

☆ Ford-SK venture to get $9.2 billion US loan for battery plants
▼ + stars: | 2023-06-22 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, June 22 (Reuters) - The U.S. Energy Department plans to lend up to $9.2 billion to a joint venture of Ford Motor (F.N) and South Korea's SK On to help it build three battery plants in Tennessee and Kentucky. The conditional commitment for the low-cost government loan for the BlueOval SK joint venture comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program. The joint venture is building three battery manufacturing facilities in Kentucky and Tennessee capable of collectively producing more than 120 gigawatt hours annually, the Energy Department said. This is the sixth loan for battery supply chain projects from the ATVM program. Last year, the department awarded a joint venture of General Motors (GM.N) and LG Energy Solution (373220.KS) $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities.

Persons: Jigar Shah, Dave Webb, Robert Rhee, Ford, Jim Farley, Tesla, David Shepardson, Toby Chopra, David Evans, Alexander Smith Organizations: U.S . Energy Department, Ford Motor, Korea's SK, BlueOval SK, Technology Vehicles Manufacturing, SK, South Korea's SK Innovation, Energy Department, Energy, Ford, Lincoln, Republican, Republicans, Biden, General Motors, LG Energy, Ultium Cells, Thomson Locations: Tennessee, Kentucky, South, United States, KS, Ohio , Tennessee, Michigan, Fremont , California

☆ The Book That Changed Robert Rubin’s Thinking About Poverty
▼ + stars: | 2023-06-15 | by ( ) www.nytimes.com time to read: +2 min

In addition to the subject’s fascinating life — among much else, she was Virginia Woolf’s muse and longtime lover — I always enjoy books about that era. What’s the most interesting thing you learned from a book recently? I recently finished a book called “1215: The Year of Magna Carta,” by Danny Danziger and John Gillingham. Our political system and government. You’ll find more recent examples of the genre — especially those by David Baldacci and Daniel Silva — on my shelves, too.

Persons: Victoria Glendinning, ”, Vita, —, Danny Danziger, John Gillingham, I’d, Roger Lowenstein, who’s, Federal Reserve —, haven’t, Chris Whipple’s, Coffin, Dimitrios, Eric Ambler, Helen MacInnes, You’ll, David Baldacci, Daniel Silva — Organizations: Bloomsbury Group, Magna Carta, Wall Street, The Times, Federal Reserve, Scottish Locations: Vita Sackville, West, England, Virginia, Scottish American

Administration officials plan to maintain their silence on the Trump indictment, a reflection of Biden's view that no president should interfere with the Justice Department, administration sources said. Given that Trump is Biden's chief rival in the 2024 presidential race, the campaign should proceed carefully in any mention of the charges, some political experts say. Many fellow Republicans that are challenging Trump in 2024 have rebuked the Justice Department, not Trump, over the documents, and accused Biden of "weaponizing" the department, even though Trump's indictment was handed down by a grand jury. Even speaking off the record, many Biden officials carefully avoided giving their opinion about the 37 charges Trump faces over his handling of classified documents. And Democrats in Congress close to Biden have stressed the rule of law rather then using the occasion to take jabs at Trump.

Persons: Joe Biden, Donald Trump, Trump, Biden, Robert Reich, Bill Clinton, Jeremi Suri, Sunday Trump, Suri, ”, General Merrick Garland, Chris Coons, Trump's, Andrea Shalal, Heather Timmons, Mark Porter Organizations: White House, Justice Department, Republicans, Trump, University of California, University of Texas, Sunday, Catholic, Biden, Democrat, Committee, Thomson Locations: Berkeley, Austin, Florida, Washington, United States, Delaware, America

☆ Donald Trump can proceed with a lawsuit against his niece, Mary, over her role in a New York Times story on his taxes, judge rules
▼ + stars: | 2023-06-10 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Trump sued Mary Trump for giving the New York Times information for a 2018 story about his taxes. Mary Trump weighed in on the indictment in a blog post, in which she said there was "nothing he won't do to get away with his crimes," per Newsweek. Trump's attorney Alina Habba said that it was "no surprise" that Mary Trump violated the older settlement, per Bloomberg. Mary Trump will most likely appeal the ruling, Bloomberg reported. A representative for Mary Trump did not immediately respond to Insider's request for comment, which was sent outside of normal working hours.

Persons: Trump, Mary Trump, —, Donald Trump's, Robert Reed, Mary Trump's, Reed, Alina Habba, greedily, Habba Organizations: New York Times, Service, Bloomberg, Trump, Newsweek, New Locations: New York

☆ Donald Trump’s criminal cases, explained
▼ + stars: | 2023-06-09 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +14 min

Trump was indicted back in March by the Manhattan district attorney on state charges related to hush-money payments to a former adult-film star in 2016. Smith is also overseeing other investigations related to Trump, including those regarding the January 6, 2021, insurrection and the 2020 election. That federal law deals with the illegal retention of “national defense information,” a broad term that encompasses classified documents and other sensitive government materials. Federal charges related to classified documents likely do not either. But people do routinely serve prison time for retention of classified documents, conspiracy and obstruction.

Persons: Donald Trump’s, He’s, Jack Smith, Trump’s, Trump, Aaron Burr, Wasn’t, isn’t Trump, Smith, Joe Biden’s, Jim Trusty, ”, Elie Honig, CNN’s Marshall Cohen, CNN’s Evan Perez, Joe Biden, Honig, “, Robert Ray, Ray, it’s, David Axelrod, ‘ They’re, ’, Richard Hasen, don’t, Jean Carroll, We’re, hasn’t, Hasen, Richard Nixon, Gerald Ford, Nixon’s, Spiro Agnew, Agnew, Burr, We’ve, Let’s Organizations: CNN, US Department of Justice, Trump, White, National Archives, Prosecutors, Lago, USC, FBI, DOJ, That’s, Manhattan, Justice Department, Republican, Democratic, University of California, Senate, State, Quinnipiac University, Service Locations: Lago, Miami, Manhattan, Florida, Trump . Miami, Washington, New York, Dade County, Los Angeles, United States, New York City, Fulton County , Georgia, York

☆ MLB roundup: Braves rally, win 10-inning slugfest vs. Mets
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +8 min

Marcell Ozuna went deep and Travis d'Arnaud hit a two-run homer in the eighth inning that closed the deficit to one run. After the Phillies coughed up the late lead to trail 2-1 in the ninth, they tied it on a sacrifice fly from Brandon Marsh before Clemens' RBI hit off Alex Lange (3-2). Jake Burger hit a two-run homer and Luis Robert and Yoan Moncada hit solo home runs for the White Sox. Mike Clevinger (3-4) allowed three runs on six hits in 5 2/3 innings for the White Sox. Yonny Chirinos (3-1), recalled from Triple-A Durham earlier in the day, allowed one run on five hits over 5 2/3 innings.

Persons: Ozzie Albies, Dale Zanine, Albies, Tommy Hunter, Austin Riley, Marcell Ozuna, Travis d'Arnaud, Orlando Arcia, David Robertson, Brandon Nimmo, Francisco Alvarez, Zack Wheeler, Kody Clemens, Wheeler, Brandon Marsh, Clemens, Alex Lange, Zack Short, Nick Maton, Jose Ramirez, Ramirez, Will Brennan, Andres Gimenez, Myles Straw's, Cleveland, Boston's Triston Casas, Enrique Hernandez, Jarren Duran, Jose Berrios, Alex Bregman, Framber Valdez, Ramon Urias, Gunnar Henderson's, Keegan Akin, Peter Strzelecki, Owen Miller, Jon Singleton, Jo Adell, Reid Detmers, Drew Smyly, Chicago's Trey Mancini, Michael Conforto, Thairo Estrada, Scott Alexander, Camilo Doval, Nolan Jones, Profar, Clayton Kershaw, David Peralta, Kershaw, Chris Taylor, Matt McLain, Elly De La Cruz, McLain, De La Cruz, Eloy Jimenez, Jake Burger, Luis Robert, Yoan Moncada, Robert, Jimenez, Michael King, Gregory Santos, Willie Calhoun, Billy McKinney, Aaron Judge, Kyle Higashioka, Randy Vasquez, Nestor Cortes, Vasquez, Gavin Sheets, Mike Clevinger, Harold Ramirez, Luke Raley, Josh Lowe, Yonny Chirinos, Carlos Correa, Michael A, Taylor, Alex Kirilloff Organizations: Atlanta Braves, New York Mets, Atlanta, New York, Phillies, Tigers, Philadelphia, Detroit, Red Sox, Cleveland, Boston, Blue Jays, Astros, Brandon Belt, Toronto, Houston . Blue Jays, Houston, Orioles, Brewers, Baltimore, Milwaukee, Angels, Cubs, Chicago, Triple, Giants, Rockies, Colorado, Coors Field, Dodgers, Reds, Los Angeles, Cincinnati, Kershaw ., Kershaw . White Sox, Yankees, New, White Sox, Rays, Twins, Tampa, American League Central, Thomson Locations: Cumberland , Georgia, USA, Truist, York, Brandon, Milwaukee, Los Angeles, Anaheim , Calif, San Francisco, Denver, Los, Kershaw . White, New York, Minnesota, St . Petersburg, Fla, Tampa Bay

☆ Jimmy Carter's legacy: How he welcomed refugees
▼ + stars: | 2023-06-04 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +14 min

These steps Carter took during his presidency are still shaping the United States, decades after he left office. Because of Carter’s actions, hundreds of thousands of people fleeing persecution had a chance to come to the United States when he was commander-in-chief. A crisis that began before Carter took office was becoming increasingly dire by the day. That respect, Nguyen says, was earned by actions that Carter took that changed the course of her parents’ lives. “They were only able to do so because of the political courage exercised by President Carter,” she says.

Persons: Jimmy Carter’s, hasn’t, Carter, ”, Kai Bird, Jimmy Carter, Bird, Carter didn’t, Fred Ihrt, ” Carter, Bee Nguyen, it’s, Nguyen, ’, “, ” Nguyen, President Carter, AAPIHeritageMonth, –, ♥️, ince, ives, K unis,, inger, egina, sia, ould, ong, ake, ariel, haring, J, ross Organizations: CNN, CBS, The New York Times, White, ust, ashington Locations: United States, Southeast Asia, Vietnam, Saigon, Georgia, Thailand, Iowa, America, ife

☆ VMware employees are increasingly concerned over Broadcom's pending $61 billion acquisition, predicting spinouts of business units, layoffs, and lost customers
▼ + stars: | 2023-05-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +14 min

Broadcom and VMware announced the $61 billion deal last year and recently pushed back the deadline as it undergoes regulatory scrutiny. Insider spoke with one former and four current VMware employees about the changes they expect to face once they are owned by the chipmaker Broadcom. A VMware spokesperson said in a statement that after the deal closes, VMware customers will obtain "more choice and flexibility" in managing their IT needs, especially across multiple cloud-computing services. Executives leaving VMwareVMware has lost several key executives since the Broadcom deal was announced (including several defecting to VMware's archrival Nutanix). "Nonetheless, I've continued to see questions in press reports about whether we intend to raise prices on VMware products.

Persons: —, Sanjay Poonen, Patrick Morley, haven't, Robert Ruelas, EUC, Kit Colbert, hasn't, Zane Rowe, Tom Gillis, Mark Lohmeyer, Ajay Patel, Kal, Karen Egan, Tom Kellermann, Raghu Raghuram, Hock Tan, Colbert, Tan, Hock E, Lucas Jackson, I've Organizations: VMware, Employees, Broadcom, SEC, Carbon, Symantec, Workers, Tech, VMware hasn't, VMware Employees, VMware VMware, Nutanix, Raghuram, Reuters

☆ I talked to 1,000 CEOs of highly successful companies—here's the 'first' question you should ask at a job interview
▼ + stars: | 2023-05-18 | by ( Robert Reiss | ) www.cnbc.com time to read: 1 min

As the host of the radio program the "The CEO Show" for the last 15 years, I've interviewed more than 1,000 of the world's top CEOs. 1 question a candidate should ask at a job interview: "What traits will help me succeed long-term at the company?" Employers are moved and impressed by people who are proactive and who get straight to the point, so this is a great first question to ask. I also love how surprisingly simple it is. Based on my conversations, here are five traits that employers value the most:

☆ Housing market will be 'sideways' until mortgage rates get to low 6%, says Compass CEO
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing market will be 'sideways' until mortgage rates get to low 6%, says Compass CEORobert Reffkin, Compass CEO and co-founder, joins 'Squawk on the Street' to discuss if the economy is on the upswing in the housing market, whether the market should be worse, and what happens with NAHB's Prospective Buyers Traffic data if there's relief in rates.

☆ Walmart and Target employees reveal the most dangerous parts of working in retail, from towers of boxes to armed customers and inattentive drivers
▼ + stars: | 2023-05-12 | by ( Dominick Reuter | Ben Tobin | ) www.businessinsider.com time to read: +7 min

Front-line retail workers face a variety of workplace hazards both inside and outside their stores. "There are a lot of dangerous aspects to working retail," said a Walmart employee of eight years who works at a store in Minnesota. In a statement to Insider, Walmart said, "The safety of our customers, suppliers, and associates is a top priority. Insider spoke to a dozen current and former Walmart and Target employees nationwide to understand the dangers that retail workers face on the job. Three Walmart employees and a former Target executive team lead told Insider about incidents with customers wielding guns.

☆ Butterfly group named after 'Lord of the Rings' villain
▼ + stars: | 2023-05-12 | by ( Kristen Rogers | ) edition.cnn.com time to read: +5 min

The “distinctive fused orange rings” that encircle black-and-white eyespots on the hindwings of this group led the researchers to name the genus Saurona, according to a recent study published in the journal Systematic Entomology. The Eye of Sauron glows in the 2001 film "The Lord of the Rings: The Fellowship of the Ring." … It’s a very fine scientific paper.”Distinguishing a special groupThe researchers documented two new species in the Saurona genus, named Saurona triangula and Saurona aurigera. Female saurona butterflies have slightly more rounded wings than males, but are otherwise similar in pattern, the authors found. Giving newly described genera or species names drawn from pop culture can draw attention to underappreciated species, Huertas said.

☆ Judge dismisses Trump’s lawsuit against The New York Times
▼ + stars: | 2023-05-04 | by ( Zoë Richards | ) www.cnbc.com time to read: +3 min

A New York judge dismissed Donald Trump's 2021 lawsuit against The New York Times on Wednesday and ordered the former president to pay attorneys' fees for the paper and three of its journalists who are listed as defendants. Reed's ruling comes as a defeat for Trump, who filed the $100 million lawsuit in 2021 against the Times, his estranged niece Mary Trump and others. "The New York Times is pleased with the judge's decision today. While Wednesday's ruling dismisses the claims against the Times and its journalists, a ruling has not yet been rendered about Mary Trump, who has also filed a motion to dismiss. Neither did a lawyer for Mary Trump.

☆ ‘Progressives’ Want to Go Back to the 1950s
▼ + stars: | 2023-05-03 | by ( Walter Russell Mead | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: AFP/Getty Images/CNP/Zuma Press Composite: Mark KellyThe Biden administration plans a fundamental transformation of American economic policy at home and abroad. That’s the takeaway from national security adviser Jake Sullivan ’s speech at the Brookings Institution last week. This was a big speech about major policy changes, and those who want to understand the direction of American policy in a second Biden term would be unwise to overlook it. The break with post-Cold War Democratic trade and economic policy is radical.

☆ The Glory Days of the American Mall
▼ + stars: | 2023-04-29 | by ( Rich Cohen | ) www.wsj.com time to read: 1 min

Sean Penn (right) and Robert Romanus in ‘Fast Times at Ridgemont High’ (1982). Photo: Universal/Everett CollectionIn 1982, the mall meant freedom. Some started at The Sweet Factory, then spent the afternoon dipping a hand into the candy bag like a wino with a bottle. “Fast Times at Ridgemont High” was our mall epic, as “Apocalypse Now” was the epic of the Vietnam War. It captured the mood, and, in doing so, told us where we were going and where we had been.

☆ Fact Check-Photo shows pool in Slovak labour camp, not Nazi concentration camp
▼ + stars: | 2023-04-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Online posts, however, miscaption the photo with the names of infamous concentration camps, such as Auschwitz, or falsely characterize the actual Slovak labour camp in the photo, Nováky, as a Nazi-run concentration camp. Senior historian at Yad Vashem Robert Rozett told Reuters via email that Nováky was not a concentration camp. UPN’s Jašek said that having a swimming pool was not usual for Slovak concentration and forced-labour camps. EXTERMINATION, CONCENTRATION CAMPSPaweł Sawicki, a spokesperson for the Auschwitz-Birkenau State Museum (here), told Reuters via email that concentration camps and extermination camps were different to forced-labour camps. The photo shows a forced-labour camp in Slovakia, where, according to three historians, conditions were different to those at Nazi-run concentration camps.

☆ Compass CEO: Homebuyers have accepted 6% mortgage rates as the new normal
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO: Homebuyers have accepted 6% mortgage rates as the new normalRobert Reffkin, Compass co-founder and CEO, joins 'Squawk on the Street' to discuss the data behind Compass' quarterly earnings results, if there's been movement in home prices, and more.

☆ Ex-Member of Menudo Says He Was Raped by Father of the Menendez Brothers
▼ + stars: | 2023-04-18 | by ( Matt Stevens | ) www.nytimes.com time to read: +1 min

It was a gripping case that was one of the first to draw a daily national audience to a televised criminal trial. Lyle and Erik Menendez were convicted in 1996 of murdering their mother, Mary Louise, a former beauty queen who went by Kitty, and their father, Jose, a music executive, despite defense arguments that the brothers had been sexually molested for years by their father, and had killed out of fear. Now, Roy Rosselló, a former member of Menudo, the boy band of the 1980s that became a global sensation, is coming forward with an allegation that he was sexually assaulted as a teenager by Jose Menendez. The series, “Menendez + Menudo: Boys Betrayed,” based on reporting by the journalists Robert Rand and Nery Ynclan, is largely focused on Mr. Rosselló. He describes an encounter with Mr. Menendez but also recounts separate incidents of sexual abuse that he says were inflicted on him by one of Menudo’s former managers when he sang as part of the group.

"Weakness continues to develop in commercial real estate office," Wells Fargo Chief Executive Charlie Scharf said on a call with analysts. Stress in the commercial real estate sector could have broad implications for banks and the economy, as losses emanating there can tighten credit availability and exacerbate a downturn. More than $1.4 trillion in U.S. CRE loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp. As the epicenter for the technology industry downturn, California's CRE market has been hit hard. Citigroup and Wells Fargo declined to comment for this article.

☆ For T. rex and kin, it was a stiff upper lip, not a toothy grin
▼ + stars: | 2023-03-30 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/2] The skeleton of "SUE", the Tyrannosaurus rex is displayed at the Field Museum of Natural History in this undated handout picture. Sealed lips would help saliva secretions in the mouth keep teeth, particularly the enamel, hydrated, Cullen said. An examination of the relationship between tooth size and skull size undercut the idea that large theropods simply had teeth too big to be covered by lips. The study identified large lizard species with lips alive today that possess teeth proportionally bigger than T. rex, relative to skull size. In crocs, teeth show asymmetrical wear, with the side of the exposed teeth facing outward more beat up than the inner side.

☆ Hong Kong government announces measures to lure wealthy family offices
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 24 (Reuters) - Hong Kong's government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules. "The policy statement demonstrates our determination to develop Hong Kong into a leading global family office hub," Paul Chan, the city's financial secretary said. Chan said this would help bolster Hong Kong's financial sector as well as areas including technology, green, arts and culture and philanthropy. City leader John Lee said last year that he had set a target of attracting 200 large family offices to set up in Hong Kong by 2025. Hong Kong's push to attract wealthy families comes as many wealthy individuals and companies shifted to rival financial hubs such as Singapore after Beijing's imposition of a national security law on Hong Kong in 2020.

☆ Ukraine can defend $3 bln Russian Eurobond case - UK top court
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 15 (Reuters) - Ukraine can defend a $3 billion Eurobond lawsuit brought by Russia on the basis it was forced to assume the debt in 2013 because of threats of force by Moscow, the United Kingdom's top court ruled on Wednesday. Ukrainian President Volodymyr Zelenskiy described the ruling as a "decisive victory against the aggressor", writing on Twitter: "Justice will be ours." The UK Supreme Court ruled on Wednesday that Ukraine can defend the lawsuit at trial on the basis that Russia’s threats of military force amounted to illegitimate pressure on Ukraine to assume the $3 billion debt. Lawyers representing Russia had told the court in 2019 that the "geopolitical dispute" between Ukraine and Russia at the time of the contract had nothing to do with whether the debt was enforceable. Reed also said the appeal "was heard before Russia’s invasion of Ukraine last year and neither party has argued that the invasion is of any relevance to our decision".

☆ Analysis: Biden's focus on deficit in budget is targeted at Republicans
▼ + stars: | 2023-03-08 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

Biden's increasing emphasis on the deficit now doesn't mean the White House sees an imminent crisis looming from the nation's $32 trillion debt. Instead, the White House hopes to draw a sharp contrast with Republican threats to refuse to raise the debt limit without sharp spending cuts. Including this fiscal plan in Biden's agenda can help shore up his economic credibility before his expected 2024 re-election campaign, the White House believes. That doesn't mean that what the White House is proposing is going to happen, of course. Reuters GraphicsNearly six in ten people told Pew Research Center in January that reducing the deficit should be a top Biden administration priority.

☆ We will look back at Q4 as the bottom for stocks, says Compass CEO Robert Reffkin
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will look back at Q4 as the bottom for stocks, says Compass CEO Robert ReffkinRobert Reffkin, Compass founder and CEO, joins 'Closing Bell: Overtime' to discuss his call that Q4 will be looked at as the bottom for stocks.

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