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☆ I was a Tesla fan but I feel like I've been duped by Elon Musk's self-driving claims. I'll never buy another Tesla again.
▼ + stars: | 2023-02-12 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Vivek Wadhwa once called himself a friend of Musk and a Tesla fan, but he sees things differently now. Wadhwa loves his Tesla, but he says he'll never buy another one again. Before that, we had drinks and I said, "Tell me the craziest thing you're going to do." He said, "I'm going to retire on Mars." I've been waiting for six years for this car to drive itself and I know it's never going to happen.

☆ IMF says El Salvador's bitcoin risks have not materialized but 'should be addressed'
▼ + stars: | 2023-02-11 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

Feb 10 (Reuters) - Risks over El Salvador's embrace of bitcoin "have not materialized," but use of the cryptocurrency still requires transparency and attention, the International Monetary Fund (IMF) said Friday in a statement after a visit to the Central American country. "Given the legal risks, fiscal fragility and largely speculative nature of crypto markets, the authorities should reconsider their plans to expand government exposures to bitcoin," the IMF said in a statement. El Salvador's move to make bitcoin legal tender in September 2021 effectively closed the doors to IMF financing. El Salvador's Congress last month passed a law regulating the issuance of digital assets by both the state and private entities. The IMF highlighted the "full recovery" of El Salvador's economy to pre-pandemic levels, "driven by the effective government response to the health crisis."

We're buying 20 shares of Estee Lauder (EL) at roughly $248.20 each. That's kind of how Estee Lauder has traded of late. EL 1Y mountain Estee Lauder (EL) 1-year performance The quarter for this leader in prestige beauty was solid, and earnings handily beat expectations, with the company posting adjusted earnings per share (EPS) of $1.69 versus estimates of $1.29. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Jim Cramer's Investing Club meeting Thursday: Meta, Eli Lilly, Estee Lauder
▼ + stars: | 2023-02-02 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Don't sell Meta Look past Eli Lilly's tough quarter Chance to buy Estee Lauder 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ El Salvador opens 40,000-person prison as arrests soar in gang crackdown
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view shows the Terrorism Confinement Center in Tecoluca, El Salvador in a handout distributed to Reuters on February 1, 2023. The 40,000-capacity Terrorism Confinement Center was inaugurated on Tuesday to help relieve some of the overpopulation in the country's prison system. With nearly two percent of its adult population behind bars, El Salvador has the highest incarceration rate in the world. El Salvador's largest prison, La Esperanza, currently holds 33,000 people despite having a capacity of 10,000. By 2021, El Salvador's prison system had 20 penal centers with a capacity for 30,000 holding 35,976 prisoners.

☆ At least one dead, several injured in machete attack at southern Spain churches
▼ + stars: | 2023-01-25 | by ( David Latona | ) www.reuters.com time to read: +3 min

[1/3] A body covered in thermal blanket is seen at the scene of a stabbing incident at a church in Algeciras, Spain January 25, 2023 in this screen grab from a video. The man attacked clergymen at two different churches - San Isidro and Nuestra Senora de La Palma, around 300 metres (1,000 feet) apart - just after 8pm on Wednesday evening in downtown Algeciras, a spokesperson for the city said. Jose Ignacio Landaluce, the mayor of Algeciras, has declared a day of mourning in the city for Thursday and a rally outside Nuestra Senora de La Palma church at midday. Earlier on Wednesday, two people were killed and several others injured when a 33-year-old stateless Palestinian man attacked them with a knife on a regional train travelling between Kiel and Hamburg in northern Germany, authorities said. Reporting by David Latona, Belén Carreño and Aislinn Laing; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Here's our January rapid-fire update on all 34 stocks in Cramer’s Charitable trust portfolio
▼ + stars: | 2023-01-19 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. As much as we'd like to maintain a bigger position in this roughly $472 stock, we're refraining from violating our cost basis of $291.52. ( See here for a full list of the stocks in Jim Cramer's Charitable Trust portfolio.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ El Salvador passes law for bitcoin-backed 'volcano bonds' and eyes expanding to other cryptocurrencies
▼ + stars: | 2023-01-12 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

El Salvador passed legislation that would allow issuance of bitcoin-backed "volcano bonds." The move follows El Salvador's previous action that established bitcoin as legal tender. After declaring bitcoin legal tender in late 2021, the Central American country had planned to issue the bonds in March of 2022. The name "volcano bonds" stems from the intended use of the funds raised from the issuance, which would partially be used to support a bitcoin mining industry powered by El Salvador's active volcanoes. El Salvador has bought 2,381 bitcoin through June, according to a Bloomberg tally based Bukele's tweets.

☆ Mexico nabs son of drug lord 'El Chapo' before Biden visit
▼ + stars: | 2023-01-05 | by ( ) www.cnbc.com time to read: +7 min

Defense Secretary Luis Cresencio Sandoval said Army and National Guard personnel had captured a son of "El Chapo." Ovidio Guzmán, nicknamed "the Mouse," had not been one of El Chapo's better-known sons until an aborted operation to capture him three years ago. "This is a significant blow to the Sinaloa cartel and major victory for the rule of law. A burning truck is seen across a street during an operation to arrest the son of Joaquin "El Chapo" Guzman, Ovidio Guzman, in Culiacan, Sinaloa state, Mexico, on January 5, 2023. Marcos Vizcarra | AFP | Getty ImagesVigil said that Ovidio Guzmán was involved in all of the cartel's activities, especially the production of fentanyl.

☆ The most—and least—expensive U.S. cities to spend New Year's Eve
▼ + stars: | 2022-12-30 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

But plenty of Americans instead choose to get dressed up, attend parties or travel in celebration of New Year's Eve. The majority of Americans (70%) plan to spend at least $50 on their New Year's Eve plans, WalletHub found. Still, Irvine, California, beats those cities as the most expensive place to spend New Year's Eve:Irvine, Calif. Miami New York Honolulu New Orleans Seattle Oakland, Calif. San Francisco Washington, D.C. Henderson, Nev. The survey found over 80 million Americans are planning to travel for New Year's Eve, with nearly half expecting to drive. While several of the best-rated cities also find themselves on the most expensive list, the least expensive cities aren't inherently less fun.

☆ Wall Street names these 20 Club stocks as top picks for 2023. Here's the list and our takes
▼ + stars: | 2022-12-29 | by ( Paulina Likos | ) www.cnbc.com time to read: +16 min

Club take: We've pared back our position in AMD this year as the semicondcutor company worked through its inventory correction. The company has to do more in terms of managing its costs, but it will likely be a priority in 2023. Analysts described growth outlooks in these segments as "robust" and expect them to drive revenue growth and margin expansion. BofA calls the Club stock a "top tier operator" and expects the company to grow revenue in the coming year despite fears of an economic downturn. Analysts expect to see strong data center growth next year, a business they said could reach $20 billion by 2023.

☆ Supreme Court extends Trump-era pandemic immigration rule to allow quicker deportations
▼ + stars: | 2022-12-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The Supreme Court ruled Tuesday to keep in place for now a controversial Trump-era rule that allows Customs and Border Patrol officials to deport migrants at the U.S. southern border as a public health measure in response to the pandemic. The Supreme Court also agreed to hear oral arguments in February and rule on whether the states can intervene, with a decision due by the end of June. More than 2 million people have been deported at the southern border under the policy since 2020. Supreme Court Chief Justice John Roberts temporarily blocked the Biden administration earlier this month from ending the controversial policy. But Republican-led states intervened in the case and successfully petitioned the Supreme Court to block that lower court ruling.

☆ The 'world's coolest dictator' rounded up 60,000 people in a supposed crackdown on MS-13. A shrimp farming community is fighting back.
▼ + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com time to read: +29 min

SISIGUAYO, EL SALVADOR — On the morning that Walber Rodriguez was arrested last May, he was just two minutes from his home in Sisiguayo, El Salvador. Outside El Salvador, Bukele is best known for adopting Bitcoin as a national currency. All around them in Sisiguayo and the surrounding Bajo Lempa valley, people were arrested with no satisfactory explanation. Residents of the Bajo Lempa who'd been touched by the arrests had begun meeting weekly at a nearby retreat center. A meeting of the Bajo Lempa families on June 17, 2022.

☆ The 'world's coolest dictator' rounded up 60,000 people in a crackdown on MS-13. A shrimp farming community is fighting back.
▼ + stars: | 2022-12-27 | by ( Danielle Mackey | ) www.businessinsider.com time to read: +29 min

☆ How to Spot a Ghost Restaurant on DoorDash, Grubhub, and Uber Eats
▼ + stars: | 2022-12-22 | by ( Nancy Luna | ) www.businessinsider.com time to read: +7 min

Thousands of virtual brands are flooding delivery apps like Uber Eats, DoorDash, and Grubhub. According to a joint report by Grubhub and the market-research firm Technomic, 41% of independent restaurants are operating virtual restaurants. Uber Eats and GrubhubUber Eats and Grubhub do not label virtual brands. Our perspective is that a virtual restaurant is a real restaurant," Uber Eats told Insider. The Miami address for the virtual brand Sam's Crispy Chicken is listed as "MIA07-2" on the Uber Eats app.

☆ El Salvador's Congress approves pension system reforms
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

SAN SALVADOR, Dec 20 (Reuters) - El Salvador's Congress on Tuesday approved reforms to increase pensions and create a state entity to supervise the retirement income system, despite criticism from experts who argued the measures were insufficient. El Salvador's population is 6.7 million. Congress also endorsed the creation of the Salvadoran Pension Institute, a state entity that will oversee the pension system and private funds. The changes, approved by the congress with a pro-government majority, will take effect in January 2023 for all workers affiliated with the pension system. The pension system in El Salvador has operated privately since 1998.

☆ The Year in Pictures 2022
▼ + stars: | 2022-12-19 | by ( The New York Times | ) www.nytimes.com time to read: +57 min

Every year, starting in early fall, photo editors at The New York Times begin sifting through the year’s work in an effort to pick out the most startling, most moving, most memorable pictures. But 2022 undoubtedly belongs to the war in Ukraine, a conflict now settling into a worryingly predictable rhythm. Erin Schaff/The New York Times “When you’re standing on the ground, you can’t visualize the scope of the destruction. Jim Huylebroek for The New York Times Kyiv, Ukraine, Feb. 25. We see the same images over and over, and it’s really hard to make anything different.” Kyiv, Ukraine, Feb 26.

☆ Here's our November rapid-fire update on all 33 stocks in Cramer's Charitable trust portfolio
▼ + stars: | 2022-12-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. Estee Lauder (EL) — New Club members who want to start a position in the cosmetics giant could do so at these levels. We'd advise Club members do so the same, even if we still like the company's defensive nature. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

The nation’s oldest Latino civil rights organization accused the city of Houston in a federal lawsuit of denying Latinos fair representation by allowing voters citywide to elect five council members. Elections in the city are deeply, racially polarized and Latinos' voting strength is diluted through the at-large election process, the lawsuit states. "Houston's the only major city in Texas where five council members are elected at large and in essence, disenfranchising the Latino community," Domingo Garcia, LULAC president, said in a phone interview. Houston only has one Latino on City Council." Since then, only 11 Latinos have been elected or appointed to a single member district and only two have been elected to an at-large district, according to the LULAC lawsuit.

☆ Moody's sees 'very high' foreign exchange risk for banks in Ukraine, Turkey
▼ + stars: | 2022-12-05 | by ( Seher Dareen | ) www.reuters.com time to read: +2 min

LONDON, Dec 5 (Reuters) - Banks in countries such as Ukraine and Turkey face a "very high" risk from restrictions on capital flows, weak international reserves and a high level of foreign currency debt, Moody's Investors Service said in a report on Monday. "The banks become vulnerable to an increase in defaults on foreign currency loans granted to unhedged borrowers which hurts the banks' profitability, while their liquidity and capital can also come under pressure." MSCI's index of emerging market currencies (.MIEM00000CUS) is on course for its sharpest drop since 2015. "Altogether 20 banking systems face high or very high foreign-currency risk," the report added. Foreign exchange risk is at the lowest in emerging markets such as Chile, Ivory Coast and Indonesia.

☆ Global Poor Lose Services as Developing Countries Face Higher Debt Payments
▼ + stars: | 2022-11-29 | by ( Gabriele Steinhauser | Alexander Saeedy | ) www.wsj.com time to read: 1 min

Pakistani cities like Karachi suffered rolling power outages this summer after the government cut energy imports to preserve dollars for debt payments. Pakistan turns the power off for up to six hours a day across the country. Ghana’s government has frozen payments to contractors, stalling road construction and prompting schools to warn they may have to stop serving student lunches. El Salvador is limiting hospital services and programs for the elderly. Across much of the developing world, cash-strapped governments are having to cut spending and freeze investments so they can pay creditors, as the Federal Reserve’s interest-rate hikes drive up borrowing costs.

☆ Trolls, propaganda & fear stoke Bukele's media machine in El Salvador
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +23 min

In examining Bukele’s media operation, Reuters interviewed more than 70 people, including former media operatives and social media researchers. It showed Bukele with an 86% approval rating in El Salvador, making him the most popular leader in the region. “The threat in El Salvador used to be from the gangs, now it's from the state,” said Angelica Carcamo, the organization's president. “I found a lot more manipulation in El Salvador than in Mexico,” Escorcia said. A native of Guatemala, Torres has been critical of the governments of El Salvador, Guatemala and Honduras for creating conditions that spur migration.

☆ Recession predictions are too complacent, and there isn't enough evidence that a coming downturn will be short and shallow, Mohamed El-Erian says
▼ + stars: | 2022-11-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

There's not enough evidence an incoming recession will be short and shallow, Mohamed El-Erian warned. El-Erian noted that mild recession calls were similar to the ways people dismissed rising inflation last year. "I hope we don't end up in a recession, but if we do, there isn't enough evidence to suggest it's short and shallow." If we end up in a recession it will be short and shallow.' "I hope we don't end up in a recession, but if we do, there isn't enough evidence to suggest it's short and shallow," El-Erian warned.

“Let’s say no to Norma Torres because she has caused so much harm to El Salvador,” one of the many tweets read. The State Department considers this an attempt to influence the elections. You can say someone is interfering with the election, you can call it election interference. El Salvador President Nayib Bukele and his party Nuevas Ideas, or New Ideas, and its allies won the biggest congressional majority in the country’s history. Bukele and Torres met once in 2019 when she was with a congressional delegation visiting El Salvador.

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