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☆ The housing market is seeing its biggest logjam since before the pandemic
▼ + stars: | 2024-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The housing market is in the midst of its biggest slowdown since the pandemic, according to Redfin. Homes stayed on the market for the longest in West Palm Beach, Florida, with listings taking a median 79 days before being sold. That was followed by Fort Lauderdale, Florida, and Jacksonville, Florida, where homes stayed on the market for a median 75 and 65 days respectively. Seattle was the hottest housing market in the nation last month, with homes staying on the market for a median of 12 days, per Redfin's report. "Anyone who has been paying attention to the housing market over the past few years knows that desirable homes sell right away," Fairweather said.

Persons: It's, Darryl Fairweather, Redfin's, " Fairweather, Redfin Organizations: Business, . Homes, Federal Reserve, Buyers Locations: Towns, Florida, Texas, Palm Beach , Florida, Fort Lauderdale , Florida, Jacksonville , Florida, Seattle, Indianapolis , Indiana, Warren , Michigan

☆ Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures. Tepper views China's stock market as more attractive than the US stock market due to valuation differences. AdvertisementIt's a buy "everything" moment for Chinese stocks after the country launched a fiscal stimulus bazooka this week, according to billionaire investor David Tepper. But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges. On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.

Persons: David Tepper, Tepper, —, Pan Gongsheng, Donald Trump, he's Organizations: Service, CNBC, Fed, Federal, People's Bank of China, PDD Holdings, Tencent Holdings, Management, Wynn Resorts, Vegas Sands, Baidu, China Internet Locations: China, Vegas

☆ Elon Musk is $100 billion richer than in April thanks to Tesla's stock surge — and worth more than McDonald's or Pepsi
▼ + stars: | 2024-09-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Elon Musk is worth more than Salesforce or Pepsi after a $100 billion wealth gain since April. Go to newsletter preferences Thanks for signing up! The Tesla CEO's net worth crashed from $229 billion at the start of January to $164 billion by late April, per the Bloomberg Billionaires Index. However, shares of the EV maker have surged by over 80% from their April low, driving a more than $100 billion increase in Musk's wealth to $270 billion at Wednesday's close. That includes an almost $50 billion rise since August 7, when Musk's fortune stood at an estimated $223 billion.

Persons: Elon Musk, —, Elon Organizations: Pepsi, Service, Tesla, Bloomberg, Business

☆ It could soon get a lot harder for Russia to deal in Chinese yuan
▼ + stars: | 2024-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A key US license allowing Russian yuan transactions is set to expire mid-October. That could make Chinese banks more hesitant to deal in Russia, worsening Moscow's yuan shortage. AdvertisementIt may about to be way harder for Russia to get its hands on Chinese yuan. Dollar and euro trading on the Moscow Exchange have already been shut down with the latest round of Western sanctions. Chinese banks have also held up billions of dollars worth of yuan payments intended for Russia, Reuters reported last month, which has also contributed to the yuan shortage.

Persons: — Organizations: Reuters, Service, US Treasury, Moscow Exchange, National Clearing Center, Treasury, Bank of Locations: Russia, Moscow, Bank of Russia

☆ I tried 43 of Trader Joe's fall foods, and would buy at least 31 of them again
▼ + stars: | 2024-09-26 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +52 min

Trader Joe's Fall Harvest salsa had an unusual sweetness that I didn't care forThe Fall Harvest salsa isn't the only seasonal dip Trader Joe's has for fall. Trader Joe's pumpkin-spice granola bark was thicker than I expectedTrader Joe's pumpkin-spice granola bark was thick. I used Trader Joe's pumpkin brioche to make a lovely French toastTrader Joe's pumpkin brioche is a unique fall take. Trader Joe's pumpkin 4-cheese Greek-yogurt dip had way too many competing flavorsI was not a fan of this Trader Joe's dip. Trader Joe's pumpkin pancake and waffle mix can elevate your fall breakfast gameTrader Joe's pumpkin pancake and waffle mix was incredible.

Persons: —, I've, Joe's, Wilson, I'm, I'd, they're, Savanna, empanadas, Wilson I, hummus, Wilson I'm, it's, Joe, dente, you've Organizations: Service, Business, Wilson Apple, Pretzel Slims, Joe's Pretzel Slims, Wilson Locations: Savanna, globs, Swain, Monterey Jack, chiles, Brussels

☆ It's refinancing time: Americans are already capitalizing on lower rates
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Mortgage Bankers Association's refinancing index jumped 20.3% last week to its highest in two years. That comes as the 30-year fixed mortgage rate dipped 2 basis points to 6.13% last week. Mortgage rates have fallen recently amid Federal Reserve easing and expectations for further rate cuts. Go to newsletter preferences Thanks for signing up! The surge in refinancing activity comes as mortgage rates fall as the market prices in expected easing from the Federal Reserve.

Persons: — Organizations: Mortgage, Reserve, Service, Fed, Federal Reserve, Business

☆ Domino's Pizza is not growing as much as it claims, investor says in new lawsuit
▼ + stars: | 2024-09-26 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Read previewAn investor has filed a class action lawsuit against Domino's Pizza, claiming the restaurant chain "overstated" its business and financial prospects. AdvertisementSpecifically, the company's annual global net store growth. The complaint says Domino's hosted its 2023 Investor Day that December, during which it discussed the long-term guidance for the annual global net store growth between 2024 and 2028. The class action lawsuit against Domino's Pizza Inc. is about its annual global net store growth. Despite investor concerns over its global net store growth, revenues at Domino's has grown.

Persons: —, Pizza, Bernstein Lierbhard, Russel J, Weiner, Sandeep Reddy, Justin Sullivan, Domino's, Matt Cardy, Stringer Organizations: Service, Pizza Enterprises, Business, Domino's, BI, Domino's Pizza Enterprises, Domino's Pizza, U.S, Company Locations: Michigan, Domino's

☆ Southwest will never be the same again
▼ + stars: | 2024-09-26 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

Both regular and enhanced seats will be available for selection at booking, starting in 2025 for flights in early 2026, Southwest said. Southwest AirlinesSouthwest has already announced an improved cabin with tablet holders, charging ports, upgraded overhead bins, and better WiFi. The cabin improvements come as Southwest plans to cut some short-haul flying in favor of more lucrative long-haul operations. Southwest left four airports altogether in August: Bellingham International Airport in Washington, Mexico's Cozumel International Airport, Houston's George Bush Intercontinental Airport, and Syracuse Hancock International Airport in New York. This means Icelandair passengers can connect in the US on Southwest flights, and vice versa.

Persons: —, Chicago's O'Hare, Houston's George, Icelandair Organizations: Service, Southwest Airlines, Business, Southwest, Southwest Airlines Southwest, Delta Air Lines, Bellingham International Airport, Houston's George Bush Intercontinental Airport, Syracuse Hancock International, Washington International Locations: Southwest, Atlanta, Bellingham, Washington, Cozumel, New York, Nashville, Baltimore

☆ CNBC Sport: Why television executives are freaking out over 2029
▼ + stars: | 2024-09-26 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +1 min

A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sources tell me the opt-out also affects "Sunday Ticket," the league's out-of-market package for which Alphabet's YouTube paid about $2 billion. That means that after the 2029 Super Bowl, the NFL has the right to completely rejigger the media landscape, if it so chooses. Five years is a lifetime in the media industry given the rapid pace of change. I don't think it's hyperbole to say 2029 could be the end of the modern media era.

Persons: Alex Sherman, NBCUniversal's Peacock, HBO Max, hadn't, it's Organizations: CNBC, Disney, YouTube, NFL, Paramount, HBO, Netflix, Google, Apple Locations: U.S

☆ Southwest's new premium seats come with a catch for everyone else
▼ + stars: | 2024-09-26 | by ( Taylor Rains | Benjamin Zhang | ) www.businessinsider.com time to read: +4 min

Southwest Airlines introduces premium seating with extra legroom to boost revenue. Southwest said Thursday that about a third of its planes will get extra-legroom seats that boast at least five inches of extra pitch. Southwest is adding some typical industry perks to its planes, like inflight power and extra legroom seats. Southwest Airlines"On our larger aircraft, we didn't have to give up any seats," Southwest executive vice president for commercial transformation Ryan Green said during Thursday's Investor Day. AdvertisementIts future 737 Max 7 will have 48 extra legroom seats, also with 34 inches.

Persons: —, Ryan Green, you'd, Green, Max, Kevin Carter Organizations: Southwest Airlines, Service, Airlines, Boeing, Max, Southwest Airline Boeing, JetBlue Airways Locations: Southwest, Chicago

☆ Dollar firm following sharp rebound as Fed speakers eyed
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

Earlier this week, Chicago Fed President Austan Goolsbee said policymakers "can't be behind the curve" if the economy is to have a soft landing. Atlanta Fed President Raphael Bostic said the central bank needn't go on a "mad dash" to lower rates. Later Thursday, Fed Chair Jerome Powell gives pre-recorded remarks at a conference in New York, where New York Fed President John Williams also speaks. Boston Fed President Susan Collins and Fed Governors Michelle Bowman and Lisa Cook take to the podium at various other venues as well. Minutes from the Bank of Japan's July meeting, when the central bank raised short-term interest rates, showed policymakers were divided on how quickly the central bank should raise interest rates further.

Persons: Adriana Kugler, Austan Goolsbee, Raphael Bostic, I'm, it's, Kenneth Crompton, Jerome Powell, John Williams, Susan Collins, Michelle Bowman, Lisa Cook, NAB's Crompton, Sterling, bitcoin Organizations: Reserve, Fed, Chicago Fed, Atlanta Fed, National Australia Bank, New York Fed, Boston, Weekly U.S, Traders, Bank of Japan's, Swiss Locations: New York

☆ Physical therapy startup Hinge Health hires Morgan Stanley as it prepares to confidentially file its S-1
▼ + stars: | 2024-09-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

Hinge Health has hired banks, with Morgan Stanley leading, for its IPO push, BI has learned. The startup is gearing up to confidentially file its S-1 in the coming weeks. $6.2 billion Hinge Health hopes to go public in early 2025. AdvertisementHealthcare startup Hinge Health has hired several investment banks as it prepares to confidentially file its S-1 to go public, Business Insider has learned. The physical therapy startup has hired Morgan Stanley to lead the deal, alongside Barclays and Bank of America, according to documents seen by BI.

Persons: Morgan Stanley, — Organizations: Service, Business, Barclays, Bank of America, SEC

☆ Putin is intensifying nuclear threats as the West wavers over Ukraine's use of long-range weapons
▼ + stars: | 2024-09-26 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Russian President Vladimir Putin said he's considering changing the country's nuclear weapons rules. It would mean an attack from a state backed by a nuclear power would be seen as a "joint attack." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian President Vladimir Putin is stepping up his nuclear threats against the West, as the US and its allies waver over allowing Ukraine to use long-range weapons they've supplied on targets in Russia.

Persons: Vladimir Putin, Putin, — Organizations: Military, Service, National Security, Business Locations: Ukraine, Russia

☆ A majority of millionaires plan to vote for Harris over Trump in November
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

A majority of wealthy investors plan to vote for Kamala Harris over Donald Trump, a new UBS survey says. The survey shows 57% of investors with at least $1 million in investable assets support Harris, while 43% back Trump. AdvertisementA majority of wealthy investors are planning to vote for Kamala Harris over Donald Trump in the upcoming November election. 57% of survey respondents said they plan to vote for Harris, while 43% said they were going to vote for Trump. Harris had a significant edge among Independents, with 60% planning to support her vs 40% for Trump.

Persons: Kamala Harris, Donald Trump, Harris, — Organizations: UBS, Trump, Investors, Service, Business

☆ Stock market today: S&P 500 notches fresh record on labor-market data and China stimulus pledge
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

The S&P 500 notched a new record on Thursday amid encouraging labor-market data and China stimulus. Go to newsletter preferences Thanks for signing up! AdvertisementUS stocks climbed on Thursday amid positive economic data and promises from China to roll out further stimulus measures. The S&P 500 notched a fresh record. Thursday's gains were also fueled by a pledge from Beijing to support China's economy with further stimulus measures, just days after the country unveiled a blitz of policies to reinvigorate its sluggish economy and real-estate market.

Persons: — Organizations: Micron, Service Locations: China, Beijing, Here's, Russia, Russia's

☆ A new MrBeast trademark filing hints at what his next big philanthropy project could be
▼ + stars: | 2024-09-26 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +1 min

A new trademark application could show YouTube star MrBeast's next big charity project. The trademark, #TeamWater, was filed on August 29 by his company Beast Holdings, LLC. The application states that the intent is to promote access to clean water. Now, a new trademark application from his company Beast Holdings, LLC, could suggest the focus of a new charity project. The trademark, #TeamWater, was filed on August 29.

Persons: MrBeast's, — Organizations: Beast Holdings, Service, Business

☆ A Japanese warship sailed through the Taiwan Strait for the first time in decades, as tensions grow with China
▼ + stars: | 2024-09-26 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Read previewA Japanese destroyer sailed through the Taiwan Strait for the first time in decades, Japan's Yomiuri newspaper reported, citing Japanese government officials. Japan's foreign affairs ministry and New Zealand's defense ministry didn't immediately respond to requests for comment. Related storiesIt's not the first time in recent weeks that international vessels have crossed the Taiwan Strait. During a press conference on Wednesday, China's foreign ministry said it was "highly vigilant on Japan's political intention behind this move." According to updates shared by Taiwan's defense ministry , China's aircraft, vessels, and ships now operate around Taiwan almost daily, sometimes crossing the median line in the strait and causing Taiwan to scramble its planes.

Persons: —, Fumio Kishida, Japan's, Yoshimasa Hayashi, didn't, Boris Pistorius, Lin Jian Organizations: Service, Yomiuri, Japan's, Defense Force, Business, - Defense Force, Kyoto, NHK, New, Australian Defense Force, German, Foreign Locations: Taiwan Strait, East, China, Taiwan, Japan, New Zealand, South China, Australian

☆ Podcast: How pro video gaming, or esports, is taking off with big dollars behind it
▼ + stars: | 2024-09-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +25 min

Finally, and most importantly, for the subject for this week's podcast, he's the Esports World Cup CEO. So if I would have any idea, any understanding on video games, right, I would watch that too. There's always a clear qualifying way to go to the Esports World Cup, right? I mean, in stadiums, security is being paid by the state for big competition, like a World Cup, right? Arjun KharpalAnd Ralf are you likely to keep the Esports World Cup in Saudi if you renew this next year?

Persons: Ralf Reichert, CNBC's, Tom Chitty, Reichert, Paris, Ralf Reichart, you've, it's, Arjun Kharpal Ralf, I've, I'd, There's, Arjun Kharpal, we're, haven't, Ralf Reichart It's, what's, Tom Chitty Ralf, What's, I'm, esports, we've, We've, Ralf, Ralf Reichart I'd, that's, Arjun, Tom, we'll Organizations: Sports League Gaming, MLS, Premier League, esports, Saudi Locations: esports, Riyadh, Saudi, German, Gothenburg, Sweden, Bangladesh, China, East, Africa, Saudi Arabia

☆ Russia's economy is signaling a fate worse than recession
▼ + stars: | 2024-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Russia's central bank says inflation is rising while the nation's economy cools. These are the key ingredients for stagflation, a scenario that's harder to combat than a recession. 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 . AdvertisementAs Russia's GDP and inflation figures move in the wrong direction, the worst-case scenario for any economy looms large over Moscow.

Persons: — Organizations: Service, Bloomberg, Business Locations: Moscow

☆ Sudan’s army launches push to retake ground in capital
▼ + stars: | 2024-09-26 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —Sudan’s army launched artillery and airstrikes in the capital on Thursday in its biggest operation to regain ground there since early in its 17-month war with the Rapid Support Forces (RSF), witnesses and military sources said. Witnesses reported heavy bombardments and clashes as army troops tried to cross bridges across the Nile connecting the three adjoining cities that make up the greater capital, Khartoum, Omdurman and Bahri. Army sources said their forces had crossed bridges in Khartoum and Bahri. The RSF told Reuters it had thwarted the army’s attempt to cross two bridges to Khartoum. Though the army retook some ground in Omdurman early this year, it depends mostly on artillery and airstrikes and has been unable to dislodge nimble RSF ground forces embedded in other parts of the capital.

Persons: Reuters —, General Abdel Fattah al, Burhan, “, ” Ahmed Abdalla, RSF, Fashir, ”, Volker Turk, autocrat Omar al, Bashir Organizations: Reuters, Rapid Support Forces, United Nations General Assembly, UN, Human, UN Security Council Locations: New York, Khartoum, Omdurman, Bahri, Sudan, United States, Switzerland, North Darfur, Darfur, al

☆ An 88-year-old man was cleared of murder after spending 46 years on death row — mostly in solitary confinement
▼ + stars: | 2024-09-26 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Iwao Hakamada was acquitted after 46 years on death row for a 1968 quadruple murder. Hakamada was the longest-serving inmate on death row of any prisoner worldwide. Go to newsletter preferences Thanks for signing up! AdvertisementAn 88-year-old man has been acquitted of multiple murders in Japan after spending 46 years on death row — most of them in solitary confinement. Iwao Hakamada, the world's longest-serving death row inmate, was found guilty in 1968 of murdering his boss, his boss's wife, and their two children and setting fire to their home.

Persons: Iwao Hakamada, Hakamada, — Organizations: Service, Business Locations: Japan

☆ This chart shows one potential advantage AWS's AI chips have over Microsoft and Google
▼ + stars: | 2024-09-26 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Read previewBig tech cloud providers have been investing in their own homegrown AI chips lately, in hopes of replicating Nvidia's success. Amazon Web Services have worked on Trainium and Inferentia processors for several years, while Google unveiled its sixth generation TPU line of AI chips this year. Davidson, AWS's AI chips may have one potential advantage: more regional availability. Regional deployment rate of AI chips by Microsoft, Amazon, and Google D.A. The company has doubled down on its silicon business lately, but its AI chips have so far seen mixed results against Nvidia's dominance.

Persons: —, Maia, Gil Luria, Davidson, AWS's, Luria, Microsoft's Maia, Patrick Neighorn, we're Organizations: Service, Services, Google, Microsoft, Business, D.A, Davidson, AWS, Nvidia's

☆ The key people who resigned from Eric Adams' office ahead of the New York City Mayor's indictment
▼ + stars: | 2024-09-26 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Eric Adams was indicted after a federal corruption probe, The New York Times first reported. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEric Adams has become the first mayor in modern New York City history to be indicted while in office. Adams was indicted following a corruption probe that led to chaos in his office and a series of resignations, The New York Times first reported on Wednesday.

Persons: Eric Adams, Adams, — Organizations: New York Times, Service, Business Locations: New York City

☆ AI leaders are reacting to OpenAI's wild 24 hours with a mix of schadenfreude and concern
▼ + stars: | 2024-09-26 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

It's been a wild 24 hours at OpenAI. Meanwhile, CEO Sam Altman said Thursday the exec departures were unrelated to restructuring talks. AdvertisementIt's been a wild 24 hours at OpenAI, with three high-level execs leaving the company — including CTO Mira Murati — and reports it's restructuring as a for-profit benefit corporation. Speaking at Italian Tech Week Thursday, OpenAI CEO Sam Altman said the executive departures and restructuring talks were unrelated. "I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," he wrote.

Persons: It's, Sam Altman, —, Mira Murati —, Sam Altman's, execs, Altman, Elon Musk, Gary Marcus —, Altman —, Sora hasn't, Marcus, Nicolas Miailhe, Miailhe, I've, it's, Mark Chen, Bob McGrew Organizations: Service, Italian Tech, OpenAI, Bloomberg, Reuters, Geometric Intelligence, Future Society Locations: —

☆ 'Big Short' investor Michael Burry bet half of his portfolio on Chinese stocks. It's finally starting to pay off.
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Famed "Big Short" investor Michael Burry is benefiting from the recent surge in Chinese stocks. Burry began aggressively buying Chinese stocks in the fourth quarter of 2022, and it seems to finally be paying off. AdvertisementBurry also has 12% of his portfolio invested in Baidu, and another 12% of his portfolio invested in JD.com. Billionaire investor David Tepper said on Thursday that it's a buy "everything" moment for Chinese stocks. Tepper believes there's more upside to be had in Chinese stocks due to their depressed valuations.

Persons: Michael Burry, —, Burry, Alibaba, David Tepper, Tepper, there's Organizations: Scion, Management, Service, Scion Asset Management, Baidu, People's Bank of China, Alibaba, CNBC Locations: JD.com, China, HedgeFollow, China's

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