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☆ Photos show what it was like to eat at McDonald's in the 1970s
▼ + stars: | 2024-05-24 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

The first McDonald's franchise opened in Des Plaines, Illinois, on April 15, 1955. By the 1970s, McDonald's had grown into an increasingly popular fast-food establishment. The Quarter Pounder, Quarter Pounder with cheese, and Egg McMuffin were also added to the menu. In the 1970s, less than a decade into its operation under businessman Ray Kroc, McDonald's was already a thriving company that had served millions of customers. That year, he also founded McDonald's System, Inc., which would become the McDonald's Corporation we know today.

Persons: McDonald's, —, Ray Kroc, Maurice, Mac, McDonald, Kroc Organizations: Service, McDonald's, Inc, Corporation, Business Locations: Des Plaines , Illinois

☆ How Ace Hardware, America’s neighborhood hardware store for 100 years, is beating its big-box rivals
▼ + stars: | 2024-05-24 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

A majority of Ace Hardware stores are located in neighborhoods. Courtesy Ace HardwareBarker is owner and operator of five Breed & Co Ace Hardware locations in the Austin, Texas, area. We count on people coming in everyday to buy a gift item from us.”This hybrid hardware-home goods-curio model is setting Ace Hardware stores apart. “They are essentially shareholders, they own the brand and the company,” said Kim Lefko, chief marketing officer of Ace Hardware. It just launched its first Ace-branded food product, a line of BBQ sauces, and a collection of Ace Hardware vintage-inspired clothing.

Persons: New York CNN — Mahin Barker, ”, Sherwin Williams, ” Neil Saunders, Hardware’s, today’s, Michael Brown, It’s, “, Barker, ” Barker, we’ve, ” Brown, “ We’ve, Kim Lefko, Lefko, John Madden, Pat Summerall, Michael Wynn, Vera Bradley, ” Wynn, Wynn Organizations: New, New York CNN, Home Depot, Hardware, Ace Hardware, Globaldata, “, NFL, Acon Investments, Sunshine Locations: New York, West Lake Hills, Austin , Texas, Brook , Illinois, Placer, remodels, Lake Hills, Chicago, Southern Florida, Florida

☆ Live Nation, Ticketmaster’s parent company, sued in groundbreaking monopoly lawsuit
▼ + stars: | 2024-05-23 | by ( Brian Fung | Hannah Rabinowitz | ) edition.cnn.com time to read: +6 min

Washington CNN —The US government and dozens of states sued Live Nation in a groundbreaking antitrust lawsuit on Thursday, alleging that for years the parent company of Ticketmaster abused its industry dominance to harm concertgoers nationwide. It is time to break up Live Nation-Ticketmaster.”In a statement, Live Nation called the DOJ’s allegations “baseless.”“The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” Live Nation said in a statement. The lawsuit highlights how regulators now believe, more than a decade on, that the behavioral modifications Live Nation agreed to have failed. According to the lawsuit, Live Nation directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues across the country, and controls more than 265 concert venues in North America. And through Ticketmaster, the suit says, Live Nation controls roughly 80% or more of major concert venues’ primary ticketing for concerts.

Persons: Taylor Swift’s, ”, General Merrick Garland, Swift, Robert Smith, Zach Bryan, Minnesota Democratic Sen, Amy Klobuchar, Connecticut Democratic Sen, Richard Blumenthal, Klobuchar, Blumenthal, John Cornyn, Ted Cruz, Biden, ramping Organizations: Washington CNN, Ticketmaster, Justice Department, Prosecutors, ”, “, DOJ, Regulators, Minnesota Democratic, Connecticut Democratic, Texas Republican, District of Columbia, Court, Southern, of Locations: New York, United States, Texas Republican Sens, North America, Arizona , Arkansas , California , Colorado , Connecticut, Florida , Illinois, Maryland , Massachusetts, Michigan, Minnesota , Nevada , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oklahoma , Oregon , Pennsylvania, Rhode Island , South Carolina , Tennessee , Texas, Virginia, Washington, West Virginia , Wisconsin , Wyoming, of New York

☆ Weekly mortgage refinance demand revives as interest rates fall to 7-week low
▼ + stars: | 2024-05-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage interest rates fell for the third straight week last week, sparking increased demand for refinances. Total mortgage application volume rose 1.9% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications to refinance a home loan rose 7% for the week and were 21% higher than the same week one year ago. Rates last week were just 32 basis points higher than they were a year ago, and that gap has been shrinking. While higher mortgage rates certainly hurt affordability, today's buyers are still facing very low supply and stiff competition, which fuels bidding wars.

Persons: Joel Kan, Matthew Graham Organizations: Mortgage, Federal Reserve, Mortgage News Locations: Hawthorn Woods , Illinois

☆ Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help
▼ + stars: | 2024-05-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

An unequal distribution of wealth in the U.S. can make it so some children are behind from birth. Now lawmakers are considering whether federal children's savings accounts can help. One proposal — the 401Kids Savings Act — would create savings accounts for all newborns. Children's savings accounts are currently available statewide in seven states — California, Illinois, Maine, Nebraska, Nevada, Pennsylvania and Rhode Island. At the end of last year, there were 121 children's savings account programs in 39 states serving 5.8 million children.

Persons: Warren Buffett's, Sen, Ron Wyden, Mike Crapo, Crapo Organizations: Finance, Senate Finance Locations: U.S, — California , Illinois, Maine , Nebraska , Nevada , Pennsylvania, Rhode, Oregon, Idaho

☆ Here's how to buy renewable energy from your electric utility
▼ + stars: | 2024-05-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

In the voluntary market, customers buy renewable energy in amounts that exceed states' minimum requirements from utility companies. Customers in these programs — also known as utility green power programs — pay their utility a "small premium" to get electricity from renewable sources, according to the U.S. Energy Department. Green power marketing programs Consumers in some states can also opt into "green power marketing programs." watch nowGreen energy programs instead rely on "renewable energy certificates," or RECs. It's a way to provide extra funding to a renewable energy project, typically sold by a broker or marketer rather than a utility, Sumner said.

Persons: Mark Felix, Jordan Vonderhaar, Jenny Sumner, It's, Joe Raedle, Loren Elliott, —, Sumner, Valerie Macon, Joydeep Mitra, Mitra Organizations: Afp, Getty, U.S . Energy Information Administration, National Renewable Energy Laboratory, Environmental Protection Agency, Roadrunner, Bloomberg, U.S . Department of Energy, Getty Images, U.S . Energy Department, Yale University's, EPA, Michigan State University Locations: Dawson , Texas, U.S, McCamey , Texas, Solano County , California, California , Connecticut, Delaware , Illinois, Maine , Maryland , Massachusetts, Michigan , New Hampshire , New Jersey , New York , Ohio, Pennsylvania, Rhode Island , Texas, Virginia, California, Imperial , California

☆ As their customers age, Macy's, Kohl's and Nordstrom are chasing younger shoppers
▼ + stars: | 2024-05-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

In this article JWNKSSM Follow your favorite stocks CREATE FREE ACCOUNTSignage of Macy's, Kohl's and Nordstrom retail stores. Department stores like Macy's , Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Melissa Repko | CNBCTo attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles. The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years.

Persons: hasn't, Nordstrom, Oliver Chen, Cowen, Chen, Kohl's, Melissa Repko, Tom Kingsbury, Maxx, Kingsbury, Macy's, It's, Tony Spring, He's, TD Cowen's Chen, Scott Olson Organizations: Nordstrom, Getty Images Department, Department, Wall, Baby Boomers, Boomers, CNBC, Target, Costco, Getty Locations: Kohl's, Macy's, Sephora, Bluemercury, Bloomie's, Zara, Chicago , Illinois

☆ FDA approves Amgen's treatment for most deadly form of lung cancer
▼ + stars: | 2024-05-16 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

In clinical trials, Amgen's drug has been shown to reduce tumor growth and help people with small-cell lung cancer live significantly longer. Of the more than 2.2 million patients who are diagnosed with lung cancer worldwide each year, small-cell lung cancer comprises 15%, or 330,000, of those cases, Amgen said. There are around 35,000 patients with small-cell lung cancer in the U.S., Dr. Jay Bradner, Amgen's chief scientific officer, told CNBC. Small-cell lung cancer usually starts in the airways of the lung and grows rapidly, creating large tumors and spreading throughout the body. Maida Mangiameli, a small-cell lung cancer advocate and patient mentor from Naperville, Illinois, is also a survivor of the devastating disease.

Persons: Amgen, Jay Bradner, Bradner, Lynne Bell, Amgen's, Bell, I'm, Maida, Mangiameli, Amgen's Bradner Organizations: Drug Administration, of Cancer, CNBC, American Cancer Society Locations: U.S, Atlanta , Georgia, Naperville , Illinois

☆ Wayfair to open its first large store, as physical locations make a comeback
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +10 min

Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.

Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,

☆ Meet a couple with 5 kids who are barely making it despite working 4 jobs: 'It shocks me that $100k feels like poverty'
▼ + stars: | 2024-05-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

April Schultz, 40, and her husband Kevin, 45, bring in $130,000 a year in gross income combined between their four jobs and side gigs. Still, Schultz said it shocks her that such an income "feels like poverty." "We shouldn't have to have four jobs in one family," Schultz said. She said that while there are job opportunities in her area, most don't pay enough for the area's cost of living. They both anticipate downsizing once their kids have moved out and relocating to a more rural and cheaper place.

Persons: Schultz, Kevin, — Schultz, ALICE —, Stephanie Hoopes, United For ALICE, She's, Louis, she's, there's, We've, they're, they've, hasn't, It's, we've Organizations: Service, Costco, United For, Department of Defense, Scott Air Force Base, Amazon, Netflix, USDA, Aldi, Sam's Locations: California , Arizona, Minnesota, Idaho, Mascoutah , Illinois, St, Illinois, Missouri

☆ A half-million school buses across US could become an EV battery powerhouse feeding the grid
▼ + stars: | 2024-05-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

The company's goal is to add 10,000 bidirectional EV school buses across the U.S. with 300 gigawatt hours of energy available to power grids each year. In effect, instead of the one-way charge into the vehicle, the school buses will be able to send their battery power back to the grid through Zum charging infrastructure. The roughly 500,000 school buses are mostly diesel, contributing to emissions. Ram Ambatipudi, senior vice president of business development at EV Connect, which provides EV charging solutions, said the school bus model is one of the most promising in the area of using EV battery storage in a bidirectional nature. "The low-hanging fruit from what I've seen is the school bus model," Ambatipudi said.

Persons: Ritu Narayan, Ram Ambatipudi, Ambatipudi, It's Organizations: San, San Francisco Unified, Los Angeles Unified, Oakland Unified, EV Connect, Ford Locations: California, San Francisco, Oakland, California , Colorado , Connecticut , Illinois, Maryland , Massachusetts , Missouri , Nebraska , Pennsylvania, Tennessee , Texas, Washington , Utah, Virginia, U.S

☆ Walmart is laying off, relocating hundreds of corporate workers across the country. Read the memo
▼ + stars: | 2024-05-14 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The majority of employees working remotely and in offices in Dallas, Atlanta and Toronto have been asked to relocate. Walmart is the nation's largest private employer with about 1.6 million employees, most of whom work at its stores across the country. Walmart has another reason to bring more employees to Bentonville: It is building a nearly 350-acre campus there. In February 2022, we made the decision to bring Home Office associates back into our campus offices.

Persons: Donna Morris Organizations: Walmart, Walmart Health, Street Journal, Home Office, Toronto Global Tech, Office Locations: Arkansas, Bentonville , Arkansas, Dallas , Atlanta, Toronto, San Francisco Bay, Hoboken , New Jersey, Arkansas , Florida, Georgia , Illinois, Texas, Bentonville, Morris, Hoboken, New York

☆ MDMA therapy could be legalized by summer. Why are so many advocates sounding the alarm?
▼ + stars: | 2024-05-13 | by ( Anna Silman | ) www.businessinsider.com time to read: +52 min

Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.

Persons: Jaden Smith, Aaron Rodgers, bro, Andrew Huberman, Rick Doblin, Doblin, mainstreaming psychedelics, influencers, Johnson, Elizabeth Nielson, Aubrey Marcus, ayahuasca, Matthew Stockman, Helena —, Timothy Leary, —, Hitler, Stanislav Grof, zombified, Brad Burge, Michael Mithoefer, Annie Mithoefer, Oprah, Sen, Joe Biden, MDMA's neurotoxicity, they'd, Albert Hofmann, David Bronner, Dr, Joe's, Bronner, Bronner's, Richard Rockefeller, John D, Rockefeller Jr, Rockefeller, Neşe, Johns Hopkins, who's, Devenot, Rick Friedman, Betty Aldworth, MAPS's multimillionaire, Tim Ferriss, Cody Swift, Zendo, Aldworth, Erica Siegal, Seth Whitelaw, Amy Emerson, JULIE JAMMOT, Ifetayo Harvey, Harvey, Lauren Unger, Unger, Casey Hardison, Harvey didn't, Hardison, Doblin's, Baylee Ybarra Gatlin, Gatlin, negligently, There's, Michael Pollan's, Steve Jurvetson, Elon Musk's who's, Genevieve, Steve Cohen, Alexandra, Mark Zuckerberg's, Dustin Moskovitz, Cari, Gwyneth Paltrow, Paltrow, Sergey Brin, Joe Green, Green, Zuckerberg, Genevieve Jurvetson, Michael Pollan, Jonathan Lubecky, he'd, Rebekah, Robert Mercer, Elizabeth Koch, Charles Koch, Rachel Nuwer, Koch, she'd, MAPS's, Elizabeth Crystal, Joe Rogan, didn't, Jesus Christ, Crystal, Meaghan Buisson, Richard Yensen, Donna, Yensen, Buisson, weren't, Robert, Rebekah Mercer, Sean Zanni, Grof, They've, Kayla Greenstien, it's, George Sarlo who'd, Vicky Dulai, Sarlo's, Dulai, Gul Dolen, Michael Mullette, who'd, Marla Aufmuth, Mullette, Lily Kay Ross, David Nickles, Ross, Greenstien, Rick, Lenny Ignelzi, biostatisticians, Lykos, Peter Thiel, Kara Swisher, Kris Lotlikar, Federico Menapace, Mo Septimus, Handout, Monnica, Williams, Lotlikar, Henry Elkus, Helena ., Elkus, Emerson, ICER Organizations: Science, New York Jets, rockstar, Multidisciplinary Association for Psychedelic Studies, Lykos Therapeutics, and Drug Administration, FDA, Business, Florida's New College, Jewish Telegraphic Agency, Sarasota Herald, Tribune, New College, Guardian, Drug, Harvard's Kennedy School of Government, eBay, Nevada, Doblin, Pentagon, Department of Veterans Affairs, Department of Defense, Staff, Corporation, PBC, pharma, New Yorker, New York Mets, Bloomberg, CBS, Breitbart, CBC News, BI, Porsche, Santa Cruz, New York Times, longtime, Mullette Corporation, New York, Health Canada, Compass, Sciences, Psychedelic Science, Whole Foods, McKinsey, Big Pharma, Vine Ventures, Lucid, Street Journal, Investments, Gawker, Publicly, PBC alums, Numinus, US Army Locations: Patagonia, Denver, Harvard, Colorado, Skokie , Illinois, Ireland, Czech, Sarasota, Arcturus, Florida, Swiss, Vietnam, Washington, Santa Cruz, Chicago, California, Iraq, British Columbia, New York, Hawaii, Santa, Nature, Moderna, Europe, Helena, Yale, Australia, Canada, Israel, Ukraine, ICER, . Upper

☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ Oil rises on U.S. crude storage draw, Fed rate cut hopes
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +1 min

An oil pump jack at the New Harmony Oil Field in Grayville, Illinois, US, on Sunday, June 19, 2022. Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signaled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Crude inventories dropped last week by 1.4 million barrels to 459.5 million barrels, according to the Energy Information Administration, more than analysts' expectations in a Reuters poll for a 1.1 million-barrel draw as refinery activity increased. Increasing expectations that the U.S. central bank will cut interest rates by year end after weaker-than-expected U.S. jobs data also boosted oil prices. Lower interest rates can increase spending on crude oil.

Organizations: New Harmony Oil, Federal Reserve, Brent, . West Texas, Energy Information Administration, EIA Locations: Grayville , Illinois, U.S, Gaza, Israel

☆ This is the 'sweet spot' for Roth individual retirement account conversions, expert says
▼ + stars: | 2024-05-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're weighing a Roth individual retirement account conversion, you could save on taxes by leveraging a limited window of time, experts say. Roth conversions transfer pretax or nondeductible IRA money to a Roth IRA, which kickstarts future tax-free growth. After you stop working, but before you start required withdrawals from retirement accounts, is "the sweet spot" for Roth conversions, according to JoAnn May, a Berwyn, Illinois-based certified financial planner at Forest Asset Management. Plus, many investors want to leverage lower income tax brackets through 2025 before provisions could sunset from former President Donald Trump's signature tax overhaul, she said. After a Roth conversion, you'll owe regular income taxes on the converted amount.

Persons: Roth, JoAnn May, IRAs —, Donald Trump's, you'll Organizations: Roth IRA, Asset Management, Finance Locations: Berwyn , Illinois

At least one person was killed on Wednesday as strong storms moved through Missouri, Illinois, Kentucky and Tennessee on Wednesday afternoon, bringing heavy rain, strong winds and hail in some areas. The severe weather arrived a day after widespread storms pummeled the Midwest, with tornadoes that tore through Michigan. As storms continued to move through a swath of the Midwest and the Eastern United States on Wednesday afternoon, the National Weather Service issued a string of tornado warnings in cities across Missouri, Kentucky and Tennessee. More severe storms were expected through the evening, according to forecasters. About 18 million people were under either an enhanced or moderate risk of severe weather — the third and fourth levels of intensity, out of five — on Wednesday, according to the National Weather Service’s Storm Prediction Center.

Organizations: Midwest, Eastern, National Weather Service, Prediction Locations: Missouri , Illinois, Kentucky, Tennessee, Michigan, Claiborne County, Eastern United States, Missouri , Kentucky

☆ Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance
▼ + stars: | 2024-05-07 | by ( Scott Olson | Getty Images | ) www.cnbc.com time to read: +10 min

Amgen is among the leaders of a pack of drugmakers racing to join the market with their own weight loss treatments. Amgen's drug, MariTide, is taken less frequently than Novo Nordisk's Wegovy and Eli Lilly's Zepbound, and may cause longer-lasting weight loss than the market leaders' injections. Novo Nordisk and Eli Lilly are also working on new weight loss drugs. The competition for a slice of the weight loss market has only grown more fierce in recent months. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: NOVO.B, Scott Olson, Eli Lilly, Nordisk's Wegovy, Eli Lilly's Zepbound, Amgen, William Blair, Matt Phipps, Bob Bradley, Boehringer Ingelheim, Phipps, Zepbound, Chris Schott, MariTide, Mario Tama, he's, Eli Lilly drugs, CagriSema, Eli Lilly’s, Brendan McDermid, Boehringer, Ingelheim, survodutide, Pascal Soriot, Christopher Furlong, dealmaking, David Denton Organizations: New, Halstead Pharmacy, Getty, Novo Nordisk, Nordisk's, William Blair & Company, CNBC, Therapeutics, AstraZeneca, Zealand Pharma, MariTide, Reuters, GLP, Pfizer, Eccogene Locations: Chicago , Illinois, Novo, Amgen, Thousand Oaks , California, New York City, U.S, Zealand, Macclesfield

☆ Here's how to avoid getting 'hammered' on inherited individual retirement account taxes, experts say
▼ + stars: | 2024-05-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Inherited individual retirement accounts can be a financial boost for heirs, but the windfall can trigger tax issues, experts say. Withdrawals from pretax inherited IRAs incur regular income taxes. Since 2020, certain heirs can no longer "stretch" retirement account distributions over their lifetime to reduce yearly taxes. Now, certain heirs, including most adult children, must deplete inherited accounts within 10 years, known as the "10-year rule." While only about 20% of May's clients have inherited IRAs, she expects more heirs to face the tax-planning issue as baby boomers age.

Persons: IRAs, Ed Slott, Roth, Slott, JoAnn May Organizations: Finance, IRS, Asset Management Locations: Berwyn , Illinois

☆ When grief and AI collide: These people are communicating with the dead
▼ + stars: | 2024-05-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +12 min

People have wanted to reconnect with deceased loved ones for centuries, whether they’ve visited mediums and spiritualists or leaned on services that preserve their memory. In September 2023, it introduced ChatGPT voice, where users can ask the chatbot prompts without typing. HereAfter AI, founded in 2019, allows users to create avatars of deceased loved ones. “Remembering is very important; it reflects the human condition and importance of deceased loved ones.”But she noted the relationship we have with our closest loved ones is built on authenticity. Creating an AI version of that person could for many “feel like a violation of that.”Bill Abney said he feels uneasy about communicating with his late fiancée through AI platforms.

Persons: Ana Schultz, Kyle, ”, Schultz, “, Schutz, they’ve, ” Ana Schultz, ElevenLabs, Joe Biden, Biden, ChatGPT, OpenAI, Danielle Jacobson, she’s, Phil, Cole, ” Jacobson, “ Cole, Replika, Rohit Prasad, Val Kilmer, It’s, Mary, Frances O’Connor, ‘, ’ ”, Bill Abney, Kari, ” Abney, “ I’m, Jodi Spiegel, Sims Organizations: CNN, Davidson College, Tech, Alexa, MARS, Amazon, University of Arizona Locations: Rock Falls , Illinois, Alabama, Johannesburg, South Africa, “, San Francisco, Newfoundland, Canada

☆ A machine learning engineer shares the résumé template that got him his first job and his senior role at Google
▼ + stars: | 2024-05-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

Related storiesThis is the résumé he used to land a software development graduate program role at Booking.com in Amsterdam right after college. Later, he used an updated version of that résumé — with the same template — for a software engineering role at Google, where he's worked for more than four years. AdvertisementThe résumé template Dua used to apply to Booking.com in 2016. Make yourself searchable online: Dua adds links to his online profiles on his résumé and takes steps to build more online visibility. On LinkedIn, he uses his current job section to add more about his role and achievements than his one-page résumé allows.

Persons: —, Dua, he's, PyCon, Nick Shah, Shah Organizations: Service, Business, Booking.com, Google, LinkedIn, Peterson Technology Partners Locations: Delhi, India, Amsterdam, Google's Zurich, Sahil, Park Ridge , Illinois

☆ Corn hits 3-month high; soy, wheat climb on global crop weather woes
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +2 min

Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world's biggest wheat supplier. In Argentina, corn stunt disease spread by leaf-cutter insects and adverse weather prompted the Buenos Aires grains exchange to slash its estimate for Argentina's 2023/24 corn harvest by 3 millions metric tons to 46.5 tons. In wheat, Russia's IKAR agricultural consultancy cut its forecast for the country's crop to 91 million metric tons from 93 million tons and its wheat exports to 50.5 million metric tons from 52 million tons. Wheat futures jumped as weather forecasts showed the region getting virtually no rain in the coming two weeks. Managed money funds held a net short position in CBOT wheat futures at the beginning of 2024 because of a strong dollar and slow U.S. demand, Zuzolo said.

Persons: Jim Niewold, Susan Stroud, Mike Zuzolo, Nature, Zuzolo Organizations: Chicago Board of Trade, Global, Analytics Locations: Loda , Illinois, Brazil, Russia, Brazil's Rio Grande do Sul, Argentina, Buenos Aires, South America

☆ Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
▼ + stars: | 2024-05-01 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages (ARMs). These loans offer lower interest rates than their fixed-rate counterparts but are considered riskier. When mortgage rates hit record lows back in 2021, the ARM share of applications was in the 3% range. Meanwhile, the average contract interest rate for 5/1 ARMs decreased to 6.60% from 6.64%. "Inflation remains stubbornly high, and this trend is convincing markets that rates, including mortgage rates, are going to stay higher for longer.

Persons: Mike Fratantoni Organizations: Mortgage, Association, ARM, MBA's, Federal Reserve Locations: Hawthorn Woods , Illinois

☆ Interest rates: It’s a mystery when the Fed will begin to cut them
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. That guidance will be key for market observers who clearly have divergent views on interest rates. Forecasts from major Wall Street banks on the first rate cut are all over the place: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Some Fed policymakers, meanwhile, have even floated the possibility of a rate hike, instead of a cut.

Persons: Goldman Sachs, Wall, Liz Ann Sonders, Charles Schwab, Jerome Powell, “, ” Kathleen Grace, John Towfighi, That’s, nearshoring, Alberto Ramos, Ramos, Morgan Stanley, Read, Cindy Westman, —, Brian Fung, Jason Carroll, I’ll, ”, Westman, ’, Westman — Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, JPMorgan, Bank of America, CNN, Labor Department, Manufacturing, Commerce Department, Program, Social Locations: Washington, Wells, Mexico, —, China, United States, Eureka , Illinois

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Persons: Eilish, Oscar, Billie Eilish, Finneas, James Bond, We've, Billie Eilish's, she'll, we've, Québec, Saint, Billie, you'll Organizations: Business, Academy, Ticketmaster, IL, San Jose , CA, American Express, Heritage Bank Center Locations: North America, Canada, Australia, Ireland, Toronto, Baltimore, Philadelphia , PA, Detroit , MI, Newark , NJ, Boston, Pittsburgh , PA, New York, NY, Atlanta, Nashville, TN, Cincinnati, Saint Paul, Chicago, Kansas City ,, Omaha, Denver, Vancouver, Seattle , WA, Portland, San Jose ,, Glendale, AZ, Los Angeles , CA, States, New York , Illinois, Colorado , Virginia , Utah, Connecticut, Cincinnati , Ohio

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