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☆ Ultraprocessed foods may increase your risk for type 2 diabetes, study shows
▼ + stars: | 2024-09-20 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

Packaged foods, soda, chips, hot dogs, chicken nuggets and ice cream all fall under the category of ultraprocessed foods, which can include dozens of synthetic additives such as preservatives, emulsifiers and artificial dyes. For every 10% increase in the amount of a person’s diet made up of ultraprocessed foods, the team found that there was a 17% increased risk for developing type 2 diabetes, the data showed. The scientists also found that reducing the amount of ultraprocessed food you are consuming can lower the risk, according to the study. “Ultra-processed foods are everywhere,” Dicken said via email. “We also know that increased body fat (from excess calories) increases the risk of type 2 diabetes.

Persons: Nerys Astbury, Astbury, Samuel Dicken, ” Dicken, “, ”, Sarah Gallo, Dicken, It’s, Hilda Mulrooney, Mulrooney, ” Mulrooney Organizations: CNN, Nuffield Department, Primary Health Care Sciences, University of Oxford, University College London, Consumer Brands Association, London Metropolitan University Locations: Europe, US

☆ Diving in the Titan ‘was never supposed to be safe,’ mission specialist says of the experimental submersible
▼ + stars: | 2024-09-20 | by ( Alaa Elassar | Graham Hurley | ) edition.cnn.com time to read: +6 min

CNN —Four days of hearings on the 2023 implosion of the Titan submersible which killed all five people on board concluded this week with more damning testimony recounting multiple safety incidents over the years. Lahey said he saw the Titan in March 2019 while in the Bahamas and was “not impressed,” and told OceanGate staff members how he felt about it. I saw evidence where they were crimping cables to hold on weights, it just looked amateurish in its execution,” he said. “Anyone that felt safe going to depths in the Titan was deluded or delusional, it was an experimental vessel, it was clear that it was dangerous,” said Hagen. David Lochridge, a former director of marine operations for OceanGate who expressed safety concerns about the ill-fated Titan submersible, said during his testimony earlier this week the Titan tragedy could have been prevented if US safety authorities had investigated his complaints.

Persons: Patrick Lahey, Lahey, “, ”, OceanGate, ” OceanGate, Rush, ” Fred Hagan, Corey Connor, ” Lahey, Fred Hagen, Hagen, Antonella Wilby, Wilby, that’s, ” Steven Ross, Ross, OceanGate . Rush, David Lochridge, ” Lochridge Organizations: CNN, Titan, Triton, Triton Submarines, Stockton Rush, imploding, Marine Technology Society, MTS, OSHA Locations: Bahamas, North Charleston , South Carolina

☆ With a big interest rate cut in the books, Tom Lee says the 'Fed put' is back in play
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +2 min

The Federal Reserve's big interest rate cut this week has reintroduced the notion of the " Fed put " into the stock market, longtime bull Tom Lee said. That means, the Fed's mandate is now primarily supporting a strong labor market," Lee wrote to clients Friday. Broadly speaking, the "put" refers to the desire of the Fed to loosen financial conditions, which in turn supports risk assets like stocks. In particular, he cited "an important lifeline" to three sectors that Lee said actually are in a recession: durable goods, auto sales and housing. This is a long winded way of saying the Fed is not 'pushing on a string ,'" Lee wrote.

Persons: Tom Lee, Lee Organizations: Federal, Fundstrat Global Advisors, Fed

☆ Ikea's fleet of 250 autonomous drones takes stock of warehouse inventory without any human intervention
▼ + stars: | 2024-09-20 | by ( John Kell | ) www.businessinsider.com time to read: +9 min

Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.

Persons: Verity, —, Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, —, Zealand, Arizona , Florida, Utah, Dallas

☆ Schematic wants to outsource billing software with a few lines of code. Here's the pitch deck it used to raise $4.8 million.
▼ + stars: | 2024-09-20 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Schematic raised $4.8 million to help companies manage pricing and packaging. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSchematic, a startup that develops software to help companies manage pricing and billing, has raised $4.8 million. Founded in 2023, Schematic has built a platform that lets businesses add pre-made software components to their website or app.

Persons: — Organizations: MHS Capital, Service, Business

☆ Stablecoins are becoming ‘systemically important’ as market cap returns to record highs, analysts say
▼ + stars: | 2024-09-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The market cap for stablecoins — cryptocurrencies that promise a fixed value peg to another asset — has recently reached all-time-high levels after a sharp drop in 2023. Monthly payments in stablecoins tripled to $1.4 trillion in the 12 months leading up to July. This could have investment implications for Robinhood down the road, he added, as it "continues integrating stablecoins for crypto trading & cross-border transfers." Crypto investors watch stablecoins closely for evidence of demand, liquidity and activity in the market. PayPal last year launched its own dollar-backed stablecoin, while Visa has been supporting stablecoin payments and Mastercard is supporting stablecoin wallets and other crypto card programs.

Persons: —, Bernstein, Gautam Chhugani, Kevin Dede, Wainwright, Dede, Goldman Sachs, Wells, Rob Goldstein, Michael Bloom Organizations: H.C, JPMorgan, PayPal, Visa, Mastercard, BlackRock, New, Financial Locations: New York City, Boston, New York

☆ Mark Zuckerberg told his daughter she can't be Taylor Swift. A therapist said it's a great lesson for parents.
▼ + stars: | 2024-09-20 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +4 min

Read previewBetween her vulnerable songs and stadium shows that somehow still feel intimate, Taylor Swift has captured the hearts of so many around the world — not least young girls. In a recent interview for the podcast "Acquired," Zuckerberg recounted taking August to a Taylor Swift concert. That's not available to you,'" Zuckerberg told hosts Ben Gilbert and David Rosenthal. "His advice to his daughter to aspire to be herself, not Taylor Swift or some other icon, I do think it's an important reminder for all parents," Wright said. In a previous interview with CBS's Gayle King, Zuckerberg said he gives his kids chores such as loading the dishwasher.

Persons: —, Taylor Swift, Mark Zuckerberg's, August Chan Zuckerberg, Zuckerberg, Taylor, Swift, Ben Gilbert, David Rosenthal, Chan Zuckerberg, Annie Wright, Wright, Gen Zers, Gen Alphas, he's, CBS's Gayle King Organizations: Service, Business Locations: Maine

☆ CNBC Daily Open: Markets have finally processed the good news
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Commodity price movements Stocks have rallied on the back of the Fed's rate cut. The S&P climbed 1.7% to end at 5,713.64, the first time the broad-based index has broken through the 5,700 ceiling. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: Stocks, it's, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, Citi, HSBC, People's Bank of, Bank of, Fed, Dow, Nvidia, Apple, BMO Locations: New York, China, Japan, Asia, People's Bank of China, Bank of Japan, Dinah Washington . Washington

☆ CNBC Daily Open: One day makes all the difference
▼ + stars: | 2024-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "Recalibration" Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't that worrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox. At the end of Washington's song, she croons, "What a difference a day makes / And the difference is you."

Persons: BOE, Jerome Powell's, Jeff Cox, Dinah Washington, Oppenheimer, Brian Belski, Powell, –, Alex Harring, Fred Imbert, Hakyung Kim, Lisa Kailai Han Organizations: Nasdaq, CNBC, JPMorgan Chase, of England, Monetary, Fed, Dow, Nvidia, Apple, BMO Locations: New York, Dinah Washington . Washington

☆ Number of Russian deaths in Ukraine hits 70,000 amid Putin's devastating 'meat grinder' attacks: report
▼ + stars: | 2024-09-20 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

More than 70,000 Russians have been killed in Ukraine, a new report says. Russian soldiers are being sent into "meat grinder" attacks on Ukrainian positions. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe number of Russian deaths in Ukraine since the start of the invasion has topped 70,000, according to a new report.

Persons: Mediazona, — Organizations: BBC, Service, Business Locations: Ukraine

☆ Elon Musk says the FAA should make Boeing pay for putting the Starliner astronauts at risk, not fine SpaceX 'for trivia'
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewElon Musk said the Federal Aviation Administration (FAA) should punish Boeing for its Starliner failures rather than impose "petty" fines on SpaceX. In a Thursday X post, Musk expressed his displeasure with the FAA's proposed $633,009 fine for SpaceX. "NASA deemed the Boeing capsule unsafe for astronaut return, turning, out of necessity, to SpaceX, yet instead of fining Boeing for putting astronauts at risk, the FAA is fining SpaceX for trivia!" In his rebuke of the FAA and Boeing, Musk also reposted SpaceX's Wednesday letter to top congressional leaders. Representatives of SpaceX, Boeing and the FAA didn't immediately respond to a request for comment from Business Insider, sent outside business hours.

Persons: —, Elon Musk, Musk, Marc Nichols, He's, Donald Trump's, DOGE —, Butch Wilmore, Suni Williams Organizations: Service, Federal Aviation Administration, FAA, Boeing, SpaceX, Business, NASA, Trump, Boeing Starliner, Station, Starliner, Polaris Locations: American, New Mexico

☆ Iran is helping the Houthi rebels in Yemen target and down U.S. Reaper drones, U.S. officials say
▼ + stars: | 2024-09-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +4 min

Iran is helping the Houthi rebels in Yemen target U.S. Reaper drones, which has enabled the Houthis to shoot down or damage several of the massive, unmanned aircraft, say two U.S. officials. The interference severely inhibits the U.S. ability to gather intelligence and increases the chance that the drones could drift into unfriendly airspace. The U.S. military has struggled to stop some Houthi air defense systems because rather than radars, the Houthis often use electro-optical systems to find targets. Iran sent a spy ship to the waters near Yemen to help the Houthis target ships in the Red Sea. It appears the U.S. plan to interdict shipments of Iranian weapons and destroy stockpiles of weapons and drones has failed to roll back Houthi attacks on cargo ships, Knights said.

Persons: Michael Knights, ”, Knights, “ Organizations: U.S, Pentagon, NBC, Defense Intelligence Agency, White House National Security Council, Washington Institute for Near, Policy, NBC News, ” Knights, U.S . Navy, “ Locations: Iran, Yemen, Tehran, Israel, U.S, Eastern Europe, Syria, Red

☆ Lebanon reels from second day of explosions and Sean 'Diddy' Combs denied bail: Morning Rundown
▼ + stars: | 2024-09-19 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +8 min

Sean “Diddy” Combs remains jailed after his bond appeal was rejected, in part because of witness intimidation allegations. Israel declares a ‘’new phase’’ of war as Lebanon reels from a second day of deadly device explosions. Sean ‘Diddy’ Combs loses second bail requestSean "Diddy" Combs was denied bail for a second time this week in his sex trafficking and racketeering case, leaving the rapper-turned-mogul to remain at a New York jail his legal team called "horrific" until the start of his trial. According to prosecutors, Combs allegedly called or texted Kalenna Harper, one of his protégées, 58 times in four days. More coverage of Sean ‘Diddy’ Combs’ case:Among the next questions Combs’ legal team could raise is whether he can be transferred to another facility.

Persons: Sean “ Diddy ” Combs, Israel, Sean ‘ Diddy ’ Combs, Sean, Diddy, Combs, Kalenna Harper, protégée, Harper, Andrew Carter, Carter, He’s, “, pagers, Hassan Nasrallah, pagers —, Mike Johnson, hasn’t, Kamala Harris, Donald Trump, Trump, Sen, Lindsey Graham, Suni Lee, Jordan Chiles, Jade Carey, ”, Ariana Grande, Michael Keaton, Jean Smart, Harvey Weinstein, Elon Musk’s, Jean Catuffe, Elon Musk, Musk, — David Ingram, Elizabeth Robinson Organizations: U.S, District, Metropolitan Detention, MDC, Israel, Commonwealth Fund, Republicans, Teamsters, Howard University, Electoral, Reserve, NCAA, Elon, Tenet Media, NBC Locations: Lebanon, New York, Brooklyn, Japan, Iran, Gaza, Israel, Here’s, U.S, Canada, France, Germany, United Kingdom, Springfield, Ohio, “, Kentucky, Russian, Russia, Ukraine

The blasts that rocked Lebanon for a second day reached the doors of a walkie-talkie maker in Japan on Thursday, as Israel’s declaration of a “new phase” to the conflict raised fears of all-out war. As the world urged against further escalation after months of devastating war with Hamas in Gaza, Israel indicated its focus had shifted to its northern border with Lebanon. “We are at the start of a new phase in the war — it requires courage, determination and perseverance on our part,” he said. In northern Israel, at least eight people were injured by anti-tank fire from across the Lebanon border, health authorities said early Thursday. While Israel has not taken responsibility for the attacks, the militant group and Lebanese officials also pinned the blame on Israel.

Persons: pagers, Hassan Nasrallah, Yoav Gallant, ”, Gallant, Defense Lloyd Austin, Israel, Abdallah Rashid Bouhabib, NNA, Icom, Kazuhiro Nogi, ” Yoshiki Enomoto, Enomoto, didn't, ” Icom, Cristiana, Gold, Arcidiacono Organizations: ”, Defense, NBC News, . Security, Lebanese Telecommunications Ministry, Getty, Reuters, Icom, NBC, Consulting, Taiwanese Ministry of Economic Affairs Locations: Lebanon, Japan, Iran, Gaza, Israel, U.S, New York, Taiwan, Bulgaria, Beirut, Osaka, Tokyo, AFP, East

☆ Walkie-talkie firm probes link to 2nd wave of Lebanon blasts as Israel declares ‘new phase’ of war
▼ + stars: | 2024-09-19 | by ( Mithil Aggarwal | ) www.cnbc.com time to read: +5 min

The Israeli military said it had struck Hezbollah infrastructure and a weapons storage facility in southern Lebanon in overnight airstrikes. Israeli artillery also struck several areas in southern Lebanon, the IDF said in a statement. In northern Israel, at least eight people were injured by anti-tank fire from across the Lebanon border, health authorities said early Thursday. While Israel has not taken responsibility for the attacks, the militant group and Lebanese officials also pinned the blame on Israel. Whether original Gold Apollo products were tampered with, or entirely fake ones manufactured, was still being investigated, a spokesperson for the Taiwanese Economic Affairs Ministry told NBC News.

Persons: Hassan Nasrallah, Yoav Gallant, Gallant, Lloyd Austin, Israel, Abdallah Rashid Bouhabib, NNA, Icom, Yoshiki Enomoto, Enomoto, didn't, Cristiana, Gold, Arcidiacono Organizations: Hamas, Israeli, NBC News, United Nations Security Council, Lebanese Telecommunications Ministry, Reuters, Icom, NBC, Consulting, Taiwanese Economic Affairs Ministry Locations: Beirut's, Lebanon, Japan, Iran, Gaza, Israel, U.S, New York, Taiwan, Bulgaria, Beirut, Osaka, East

☆ 'Insurance cut' is the right way to describe what the Fed did: Jim Caron
▼ + stars: | 2024-09-19 | 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 Email'Insurance cut' is the right way to describe what the Fed did: Jim CaronJim Caron from Morgan Stanley Investment Management explains why the Fed delivered a jumbo rate cut at the start of the rate cut cycle.

Persons: Jim Caron Jim Caron Organizations: Morgan Stanley Investment Management, Fed

☆ Anti-Defamation League suing Intel, its first-ever discrimination case against major American company
▼ + stars: | 2024-09-19 | by ( Alexandra Ferreyros | Cnbc Intern | ) www.cnbc.com time to read: +5 min

For the first time in its century-plus history, the Anti-Defamation League is suing a Fortune 500 company, Intel , joining a case brought by the law firm of Wigdor on behalf of a former Israeli employee of the technology firm. Intel has operated in Israel for 50 years, where it has invested more than $50 billion, and remains one of Israel's largest private employers with more than 11,700 Israeli employees. The company estimated $8.7 billion in exports from its Intel operations, accounting for 5.5% of Israel's high-tech exports and 1.75% of the country's GDP, in 2022. When employers do not meet their legal obligations in protecting their Jewish employees, ADL will not hesitate to act." The former Israeli employee also recently sent an open letter to Intel's board of directors about his complaint.

Persons: wasn't, Jonathan Greenblatt, Greenblatt, Google, we've Organizations: Defamation League, Fortune, Intel, ADL, CNBC, Google Locations: Wigdor, Israel, U.S, boardrooms, Gaza

☆ Jim Cramer reviews 10 stocks that perform well just after the start of a cutting cycle
▼ + stars: | 2024-09-19 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Thursday reviewed stocks that have historically performed well just after the Federal Reserve embarks on a cutting cycle and chose his favorites. Using data compiled by CNBC Pro, Cramer discussed the top 10 stocks with the median best performance during three months after an initial cut over the past 40 years. "Now that the Fed's started cutting rates with a bang, you need to think about what kind of stocks will work best in what I consider to be a new regime. Our friends as CNBC Pro got you started with the ten stocks that've done best during the first three months after a rate cuts, going back to '84," he said. "But when you go through their current circumstances, the only ones I can fully endorse are Apple, Target and Textron, in that order."

Persons: CNBC's Jim Cramer, Cramer, –, Sarah Min Organizations: CNBC Pro, Apple, Target, Textron

☆ Shenzhen, China: Schoolboy, 10, killed in new China stabbing attack near Japanese school
▼ + stars: | 2024-09-19 | by ( Nectar Gan | Junko Ogura | ) edition.cnn.com time to read: +3 min

The boy was attacked by a man about 200 meters (650 feet) from the gates of the Japanese school in Shenzhen, a tech-hub metropolis home to many Japanese businesses, according to China’s foreign ministry. But Japanese nationality is required for enrollment at the Shenzhen Japanese School, according to its website. Following that attack, Japan’s foreign ministry told Japanese schools to review their safety measures, Kamikawa said. At a regular news conference Wednesday, Chinese foreign ministry spokesperson Lin Jian said the case was being investigated. China’s foreign ministry has described both attacks as isolated incidents and did not release further information on the motives.

Persons: Yoko Kamikawa, “, Kamikawa, Lin Jian Organizations: Tokyo CNN, Shenzhen Japanese School Locations: Hong Kong, Tokyo, China, Shenzhen, Suzhou, Jilin

☆ Nike and Adidas veterans are backing a $125M project seeking to revitalize the Portland sportswear industry
▼ + stars: | 2024-09-19 | by ( John Kell | ) www.businessinsider.com time to read: +10 min

The Northeast is the ancestral home of footwear manufacturing in the US, where New Balance still assembles more than 4 million pairs of sneakers each year. But that could soon change with a plan for a $125 million development campus called Made in Old Town. At the federal level, the US government has offered billions in subsidies to support manufacturing, mostly targeting the auto, semiconductor, and solar industries. With the Made in Old Town project, the aim is to generate about 6,000 full-time jobs in Portland by as soon as 2028. A long way to goThe Made in Old Town project is still in its early stages, having raised $15 million of its $125 million goal.

Persons: Portland's, Hilos, —, Keen, Elias Stahl, Portland's Hilos, Stahl, they're, Eric Liedtke, Liedtke, They've, Alo, Armour, Tina Kotek, Noel Kinder, Nike's, Kinder Organizations: Technology Association of Oregon, Chain Management, Service, Nike, Adidas, Bureau of Labor Statistics, Factory, Brands, Columbia, Midwest ., Gov Locations: Old Town, Portland , Oregon, Columbia, Portland's Old, Portland, Vietnam, China, Asia, Old, Germany, North America, Atlanta, Midwest

☆ Yonder, a London fintech startup offering rewards for credit card spending, has raised $30.1 million using this 11-slide pitch deck
▼ + stars: | 2024-09-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewYonder, a London-based fintech startup, has raised $30.1 million in new funding. Founded in 2020 by former staffers at credit scoring startup Clearscore, Yonder offers users a credit card with rewards such as meals at high-end restaurants, tickets to events, and points toward flights. This story is available exclusively to Business Insider subscribers. Yonder claims its latest raise is a significant up round, resulting in a post-money valuation of more than $132 million.

Persons: —, we've, Tim Chong, Chong Organizations: Service, Business, RTP Global, Northzone Locations: London, Manchester, Birmingham, Bristol, Bath

☆ Oil prices fall as U.S. rate cut fails to boost market sentiment
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas. Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy. The U.S. central bank cut interest rates by half a percentage point on Wednesday, suggesting the Fed saw a slowing job market. That view appeared to outweigh the boost that interest rate cuts usually bring to economic activity. China's industrial output growth also slowed to a five-month low last month, and retail sales and new home prices weakened further.

Persons: Tony Sycamore, heightening Organizations: Brent, Fed, ANZ, Citi, Shandong Yulong Petrochemical Locations: Midland , Texas, U.S, China, Shandong Yulong, Gaza

☆ Why rate cuts could actually slow the economy instead of sparking growth
▼ + stars: | 2024-09-19 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

The consensus view is that lower rates will stave off a recession by stimulating economic growth through lower borrowing costs. The hidden danger of a double cutHowever, David Kelly of JPMorgan Asset Management warned that lower rates aren't an economic panacea. In fact, the chief global strategist thinks these cuts could, paradoxically, cause the economy to slow in the near term. Advertisement"The important thing to recognize is that cutting interest rates at the start doesn't stimulate the economy at all," Kelly said on CNBC. "There is a J-curve effect; it actually slows the economy because people begin to anticipate those lower rates, so they want to wait for lower rates."

Persons: —, Jim Caron, Claudia Sahm, Jerome Powell, Sahm, Ronald Temple, Kevin Philip of, David Kelly, Kelly, what's, you've, Kelly isn't, it's, they've Organizations: Service, Federal, Business, Fed, Dow Jones, Morgan Stanley Investment Management, CNBC, New Century Advisors, Lazard, Kevin Philip of Bel Air Investment Advisors, JPMorgan Asset Management

☆ Olive Garden strikes a deal with Uber to deliver its food
▼ + stars: | 2024-09-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Once a holdout on using third-party services, Olive Garden is reversing course and will use Uber to deliver breadsticks and pasta. Olive Garden already offers delivery through its website and app, delivered by the restaurant’s employees. Even during the height of the pandemic, Olive Garden didn’t use the services, although the services benefited their competitors. The partnership likely alleviated some of the pain of a dismal quarter for Olive Garden, which reported a 2.9% drop in same-store sales for the quarter. Olive Garden doesn’t offer many discounts, like its competitors do.

Persons: Uber, Olive Garden, Olive, ”, Rick Cardenas, ” Darden, Darden, Ruth Chris Organizations: New, New York CNN, Darden, it’s, Olive, Longhorn Locations: New York, Olive

☆ 15 little-known facts about Phoebe that even die-hard 'Friends' fans may not know
▼ + stars: | 2024-09-19 | by ( Amory Rose | ) www.businessinsider.com time to read: +7 min

Even long-time "Friends" fans may not know some of the most intriguing facts about Phoebe, played by Lisa Kudrow. Phoebe once paused her vegetarian dietLisa Kudrow as Phoebe Buffay on "Friends." When she was younger, Phoebe mugged RossAfter Ross and Phoebe are mugged in season nine, Ross says the same thing happened to him as a teenager. AdvertisementRoss was the first of the friends that Phoebe metLisa Kudrow as Phoebe Buffay and David Schwimmer as Ross Geller. However, Phoebe mugged Ross 18 years before season nine, so she actually met Ross before meeting any of the other friends.

Persons: —, Phoebe Buffay, Phoebe, Lisa Kudrow, NBC Phoebe, Joey, isn't, Lily, Bob Balaban, Frank Buffay, Phoebe's, it's, he's, Frank Jr, Ursula Phoebe, Ursula, Chandler, Paul Rudd, Phoebe doesn't, Ross, Susan, Mike, Kudrow, David Schwimmer, Ross Geller, NBCUniversal, Monica, Rachel, She's, Denise, David Hume Kennerly Organizations: Service, Business, NBC, Getty Locations: Canadian, Vegas, Ross

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