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☆ Costco's members are getting younger as millennial and Gen Z shoppers flock to wholesale clubs
▼ + stars: | 2024-09-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco is the latest warehouse club to tout its growing popularity with millennial and Gen Z shoppers. Sam's Club has reported similar trends as younger shoppers look to stretch their budgets. AdvertisementOne of the hottest clubs for millennials and Gen Z continues to be the wholesale club. AdvertisementThe news echoes results from Sam's Club, the Walmart-owned club store, where Gen Z membership has grown by 68% in the past two years. Related stories"That generation believes it's cool to save money, and we agree with them," Sam's Club CEO Chris Nicholas told CNBC in June.

Persons: —, Gen Z, Gary Millerchip, Millerchip, GoBankingRates, Dominic Wright, Placer.ai, That's, Hottovy, Chris Nicholas, Nicholas, Corey Tarlowe, Jordan, Ford Pinto, TJ, Tarlowe, you'll, Mercedes, Costco's Kirkland, Club's, Mark Organizations: Costco, Sam's, Service, millennials, Analytical Research, Business, Sam's Club, Walmart, CNBC, Jefferies, Price Club, TJ Maxx

Even though the Fed plans to continue cutting rates, mortgage rates might not fall much more this year. Mortgage rates trended down ahead of this decision, but now that the cut has happened and the rest of this year's cuts are priced in, it will take a change in the economic outlook to push mortgage rates down further. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: they've, Freddie Mac Organizations: Federal Reserve, Fed, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: U.S, Chevron

☆ Insider Today: Austin's genius housing fix
▼ + stars: | 2024-09-28 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

This week's dispatchThe high cost of weight-loss drugsiStock; Rebecca Zisser/BIWhy are two popular weight-loss drugs — Wegovy and diabetes medication Ozempic — so expensive in the US? Patients also bargain-hunt for cheaper weight-loss drugs online, or try to use manufacturer-issued coupons. See the full listiStock; Rebecca Zisser/BIDeals we loveCalling all Madewell shoppers: The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.

Persons: —, you've, Shailene Woodley, George Clooney, Rebecca Zisser, Ozempic, Lars Fruergaard Jorgensen, Sen, Bernie Sanders, it's, Gabby Landsverk, Ro, Henry Meds, Eli Lilly, Stefania Pelfini, Jenny Chang, Rodriguez, BI Marie, Mangin, Yellowstone Joey Hadden, Jackson, Wyoming's, Natalie Ammari, Zers, Austin, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, Novo Nordisk, Federal Trade Commission, FDA, copycats, BI, Yellowstone, Austin, Lone Star, Disney, Pixar, British, Netflix, Insiders Locations: Washington ,, Germany, New York City, New York, Chicago

☆ The JD Vance and Tim Walz debate is likely the last big night of the 2024 campaign. Here's what to expect.
▼ + stars: | 2024-09-28 | by ( Brent D. Griffiths | John L. Dorman | ) www.businessinsider.com time to read: +11 min

Tim Walz of Minnesota are set to meet for the only scheduled vice-presidential debate on Tuesday, a face-off that could mark the final major moment of the campaign. Harris' national polling has ticked up since what was viewed as her convincing debate victory. This will be the first time either Brennan or O'Donnell have moderated a vice-presidential debate. Born into poverty, Vance attended the flagship school in his home state, Ohio State University, before obtaining a law degree from Yale. Walz has led a progressive rewrite of the state tax code over the objection of business interests in the state.

Persons: Ohio Sen, JD Vance, Tim Walz, Vance, Walz, —, Sen, Kamala Harris, Donald Trump, Harris, he'll, Peter Loge, it's, Joe Biden, Trump, Nate Silver, Margaret Brennan, Norah O'Donnell, Brennan, O'Donnell, Scott Olson, Bradley Tusk, Tusk, whittle, Mike DeWine, Jeff Swensen, deindustrialization, he's, Lina Khan's Organizations: Minnesota Gov, Service, Ohio, Gov, Trump, School of Media, Public Affairs, George Washington University, Ohio Republican, Democratic, CBS Broadcast Center, CBS, Paramount, CBS Evening, Democratic Party, Minnesota National Guard, Army National Guard, Ohio State University, Yale, Federal Trade Commission, Big Tech, Foundation, Social Security, Tax Foundation Locations: Ohio, Minnesota, Vance, New York City, Springfield , Ohio, Iraq

☆ I moved 1,800 miles and took a 20% pay cut to live near my parents. It's a high-cost area, but they get to see our kids.
▼ + stars: | 2024-09-28 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

She swallowed a 20% pay cut and bought a house in a suburb with a much higher cost of living. My husband, Max, and I moved from Texas to Massachusetts in 2021 when our oldest son, Theo, was 1. In Texas, you pay federal taxes, property taxes, and sales taxes, but there is no state income tax. Guillois's parents enjoy looking after her older son, Theo. I had to take a pay cutMax's salary remained the same, but I was forced to take a 20% pay cut for an apples-to-apples job.

Persons: Kim Guillois, —, Max, Theo, Charlie, it's Organizations: Service, Texas, Logan International, Best, Business Locations: Texas, Massachusetts, France, Houston, Boston, Virginia, HOA, Europe

☆ The politics of tariffs are complicated. A Democrat just introduced a bill to make Trump's proposals law.
▼ + stars: | 2024-09-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +5 min

What’s more surprising, however, is that one House Democratic just introduced a bill to codify Trump’s 10% across-the-board tariffs, revealing how the long-dormant trade policy splits both parties. But they largely fell out of favor during the late 20th century as the U.S. led a global free trade revolution. Despite Harris and other attacks on Trump's tariffs, the Biden-Harris administration decided to keep some of the tariffs Trump imposed during his first term on Chinese steel and aluminum and even increase the fees on strategic sectors like electric vehicles and semiconductors. Still, Biden and Harris have consistently criticized across-the-board tariffs as “indiscriminate” instruments that risk “undermining our alliances,” arguing targeted sanctions do not carry the inflationary risks of wider spread one. Most say the data is clear that freer trade leads to greater economic growth and they say Trump's across-the-board tariffs would raise inflation and could cost jobs.

Persons: Donald Trump, Kamala Harris, ” Trump, Jared Golden, Trump, ”, “, ” Harris, He’s, Sen, Rand Paul, Harris, Still, Biden, Golden, ” Golden Organizations: GOP, Democratic, MSNBC, Trump, Biden Locations: LINCOLNVILLE, Maine, Athens, U.S, American, Ky, Golden's

New U.S. tariffs on $18 billion in Chinese goods take effect Friday as trade tensions intensify between the world’s two largest economies. For example, the U.S. imports almost no Chinese EVs, largely because of an existing 27.5% tariff that is now increasing to 100%. Lithium-ion batteries, however, are a different story, accounting for about $13 billion of the $18 billion in affected Chinese goods. Similarly, the U.S. has been increasing its Chinese imports of natural graphite, another crucial component of EVs. “Cheaper Chinese solars and cheaper Chinese EVs can actually take jobs away from a lot of manufacturers in, say, the West.

Persons: Donald Trump, Joe Biden, Trump, Chim Lee, ” Lee, Charles Benoit, “ that’s, Benoit, ”, Biden, Julie Kozack, Lee, it’s Organizations: Economist Intelligence Unit, Biden, China, European, Coalition for, Prosperous, International Monetary Fund, U.S Locations: U.S, Beijing, China, Asia, Southeast Asia, Mexico, Malaysia, Prosperous America

☆ China stocks see best week since 2008 on stimulus impact as most Asia markets rise
▼ + stars: | 2024-09-27 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +4 min

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank. The last time the index saw a bigger weekly gain was the week ending Nov. 14, 2008. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%, making it the index’s best week since February 1998, according to FactSet data. Tokyo’s headline inflation rate eased to 2.2%, down from August’s 2.6%. A slate of fresh U.S. economic data also supported the market’s gains, with weekly jobless claims falling more than expected, pointing to a steady labor market.

Persons: Hong, PBOC, Shigeru Ishiba, Sanae Takaichi, Korea’s Kospi, Australia’s, ’ Organizations: CSI, People’s Bank of China, Google, Shanghai Stock Exchange, Reuters, Japan’s Nikkei, of Japan, U.S ., Micron Technology, Nasdaq, Dow Jones Industrial Locations: China, Shanghai, Asia, Pacific, Tokyo, August’s, U.S

☆ Moo Deng now has her own crypto, because of course she does
▼ + stars: | 2024-09-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

Moo Deng crypto. Given the sudden popularity of Moo Deng, the Thai national treasure whose name roughly translates as “bouncy pork,” it was only a matter of time before someone turned her into a digital asset. And given the nature of such memecoins, which have zero underlying value and trade purely on vibes, it’s no surprise Moo Deng Coin has shot up 1,400% since it was created less than three weeks ago. (It should be noted that crypto traders suspect this anonymous Moo Deng booster is an “insider,” since they bought the coin four hours after its creation, per the crypto news site Decrypt. Moo Deng coin is just the latest product of a niche online culture that also birthed Dogecoin (created as a joke to dunk on bitcoin) and Shiba Inu coin (a joke to dunk on Dogecoin).

Persons: Moo Deng, it’s, Deng, Shiba Inu Organizations: New, New York CNN Locations: New York, Thai

☆ Trade School: China exposure
▼ + stars: | 2024-09-27 | 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 EmailTrade School: China exposureStephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to break down the China Trade and share some of the moves she's making in her portfolio.

Persons: Stephanie Link, Hightower Organizations: Email Trade, China Trade Locations: China

☆ Trade Tracker: Kevin Simpson buys Meta
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Kevin Simpson buys MetaKevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's "Halftime Report" to explain why he's buying Meta.

Persons: Kevin Simpson Organizations: Wealth Planning, Meta

☆ Here are our trades of the week and what's ahead for this overbought market
▼ + stars: | 2024-09-27 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Mixed market : The S & P 500 spent Friday's session mostly unchanged as it tried for a fourth record close this week. Still frothy : The S & P Short Range Oscillator pulled back from Tuesday's most overbought reading since August. Month to date, consumer discretionary, utilities, and materials were the best-performing S & P 500 sectors. 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.

Persons: Jim Cramer, he's, Vimal Kapur, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, GE Healthcare, Honeywell, Constellation Brands, Jim Cramer's Charitable, New York Stock Exchange, Getty Locations: Tuesday's, New York City

☆ 32-year-old gave up on buying a home in LA after mortgage costs surged: 'Even a modest condo costs close to $1 million'
▼ + stars: | 2024-09-27 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

When Jonathan Ochart moved from San Antonio to Los Angeles in 2023 to grow his public relations business, he figured he'd buy a condo. But that's only one of the reasons he's priced out of the Los Angeles County market, even for a smaller place. In LA, "even a modest condo costs close to $1 million," he says. Jonathan Ochart gave up on buying a condo in Los Angeles. Courtesy of Jonathan OchartBy early 2024, Ochart had given up on the idea of buying a condo in Los Angeles altogether.

Persons: Jonathan Ochart, Ochart, you've Organizations: CNBC, U.S . Census Locations: San Antonio, Los Angeles, Texas, Angeles County, Ochart's, Beverly Hills, LA, San Jose , New York, Boston, LA County, U.S

☆ Best Buy gets a big Wall Street endorsement that's in-line with why we own the stock
▼ + stars: | 2024-09-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Despite Thursday's gains, Wells Fargo shares are having a tough month. 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.

Persons: Jim Cramer, Stanley Black, Decker, Wells Fargo, Wells, Morgan Stanley, Jim Cramer's, Jim Organizations: CNBC, Treasury, JPMorgan, Wells, Bloomberg, Fed

☆ 10 things to watch in the stock market Friday including a bullish call on Best Buy
▼ + stars: | 2024-09-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

We raised our price target on the stock. Best Buy was added to JPMorgan's analyst focus list after a meeting with the electronics and appliance retailer's management team. Deutsche Bank restarted coverage of Dell Technologies with a buy rating and price target of $144 a share. 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.

Persons: Bristol Myers, Morgan Stanley, Wynn, Jim Cramer, Dan Ives, Jim Cramer's, Jim Organizations: Club, Costco, Drug Administration, Bristol, Bristol Myers Squibb, Wynn Resorts, United Arab, Citigroup, Analysts, Walmart, Deutsche Bank, Dell Technologies, PepsiCo, HP Inc, Bank of America, HP, Wedbush Securities, Jim's, Jim Cramer's Charitable, CNBC Locations: what's, New Jersey, Las Vegas, United Arab Emirates, China, Macau

☆ Key Fed inflation gauge at 2.2% in August, lower than expected
▼ + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. Personal income increased 0.2% on the month while spending rose 0.2%. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.

Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Commerce Department, Fed, Stock Locations: U.S

☆ Trade Tracker: Jason Snipe sells the XLE Energy ETF
▼ + stars: | 2024-09-27 | 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 EmailTrade Tracker: Jason Snipe sells the XLE Energy ETFJason Snipe, founder and CIO at Odyssey Capital Advisors, joins CNBC’s “Halftime Report” to explain why he's getting out of Energy.

Persons: Jason Snipe, Snipe, he's Organizations: Energy, Odyssey Capital Advisors Locations: Energy

☆ China's stimulus may not be enough to prop up its economy, says Wendy Cutler
▼ + stars: | 2024-09-27 | 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 EmailChina's stimulus may not be enough to prop up its economy, says Wendy CutlerWendy Cutler, vice president at the Asia Society Policy Institute, joins CNBC's 'The Exchange' to discuss trade relations between the U.S. and Mexico, tariffs on Chinese goods, and more.

Persons: Wendy Cutler Wendy Cutler Organizations: Asia Society Policy Institute, U.S Locations: Mexico

☆ We're trimming this healthcare stock as it hits new highs Friday — here's why
▼ + stars: | 2024-09-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

We are selling 75 shares of GE Healthcare at roughly $93.86. Following the trade, Jim Cramer's Charitable Trust will own 925 shares of GEHC, decreasing its weighting to 2.5% from 2.72%. After further contemplation since the Morning Meeting , we are trimming our position in GE Healthcare. It's been the second best-performing healthcare stock in the S & P 500 this past month, rallying roughly 11% to put its year-to-date gains at 21%. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, It's, Jim Cramer, Jim Organizations: GE Healthcare, UBS, GE, CNBC, Traders, NYSE Locations: China

☆ This House Democrat is backing Trump's 10% tariff plan — and he even has a bill to get it done
▼ + stars: | 2024-09-27 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Trump's plan for a 10% tariff on all imports has been panned by Democrats and Republicans alike. Vice President Kamala Harris has even called it the "Trump Sales Tax." Vice President Kamala Harris has characterized the plan as the "Trump Sales Tax." Despite that, a rebellious House Democrat just introduced a bill that would write those tariffs into law. A self-described "progressive conservative," the Maine Democrat frequently votes for Republican-led resolutions and bills in Congress.

Persons: Kamala Harris, Jared Golden of, —, Donald Trump's, Mitch McConnell, Jared Golden, Golden, It's, Trump, Biden —, he's, Austin Theriault Organizations: Republicans, Democratic, Service, Trump, Democrat, Labor, Trade, United States of, Maine Democrat, Republican, GOP Locations: Jared Golden of Maine, United States, Maine, United States of America

☆ Why analysts are calling Cava the next Chipotle
▼ + stars: | 2024-09-27 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. Now, Wall Street analysts see shades of another fast-casual success story: Chipotle Mexican Grill . In its most recent results for the second quarter of 2024, Cava bucked industry trends by posting same-store sales growth of 14.4% and traffic growth of 9.5%. Cava Group co-founder and CEO Brett Schulman has said its prices increased 15% between 2019 and 2024. "You hear a lot about the value wars lately.

Persons: Nick Setyan, Brett Schulman, Schulman, That's, Cava, Chipotle Organizations: Wall Street, Wedbush Securities, Cava Group Locations: Cava, Chipotle

☆ As ports strike nears, union warns that companies like Walmart, Ikea and Home Depot will be left with few to no import options
▼ + stars: | 2024-09-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

These companies are among the leading importers at the 14 major ports that an ILA strike would impact, according to ImportGenius. Out of the 85,000 members, 50,000 would go on strike at the 14 ports that are subject to a master contract that has not been negotiated. Separately, the Port of Montreal union affiliated with the Canadian Union of Public Employees issued a 72-hour notice that its own three-day strike starts on Monday, Sept. 30. Robinson, tells CNBC this strike could exacerbate the U.S. port strike disruption. "We'll shut them down," Daggett said in a recent video message to union members.

Persons: ImportGenius, Peter Sand, James McNamara, Mia Ginter, Robinson, Ginter, Harold Daggett, Daggett, William George, Biden, Taft, Hartley, USMX, McNamara, Maersk Organizations: International Longshoremen's Association, LG Electronics, Walmart, Ikea, Samsung, ILA, Cruise, Brothers, Port, Canadian Union of Public Employees, CNBC, U.S, Home Depot, Hyundai, General Motors, Dollar, . Tire, Michelin, Goodyear, Continental Tire, Glovis, Samsung Electronics, IKEA, US Maritime Alliance, NLRB, Reuters, Biden, Georgia Ports Authority, U.S ., Gulf, Mitre Locations: East Coast, Gulf Coast, Canada, West Coast, West, Coast, Great Lakes, Montreal, C.H, Port of Montreal, of Los Angeles, Lading, New York, New Jersey, Baltimore, Savannah, Houston , North Carolina, South Carolina, Virginia, New Orleans, Glovis America, In Savannah, Georgia, South, America, Newark, Maine, Texas, Boston , New York, Philadelphia, Wilmington, Norfolk, Charleston, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, Gulf, NY, NJ, U.S . East Coast, Port of New York

☆ Using options to trade an index that's become a swing trader's dream
▼ + stars: | 2024-09-27 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Although it is very volatile and exhibits wild swings, in the 1-year daily chart shown below, it becomes evident how confined its movement is within a well-defined trading range. Whenever it breaches one of these levels, it quickly stabilizes in a new trading range. Based on this analysis, I am considering a bearish set-up while keeping the top of its current trading range in mind. The trade Given the bearish outlook, I'm using a call credit spread as my trade structure. If the index stays below $2,260 by the expiration date, the trade will yield an ROI of 42% on the capital risked.

Persons: Russell, Nishant Pant Organizations: CNBC, NBC UNIVERSAL

☆ White Sox lose 121st game of season, most by any team in modern baseball history
▼ + stars: | 2024-09-27 | by ( Sam Blum | Cody Stavenhagen | ) www.nytimes.com time to read: +7 min

This was, perhaps, the closest thing the White Sox have had to a prideful moment all season. As The Athletic’s Jayson Stark noted, the White Sox have used 29 position players this season. After their most recent downturn — a 12-game skid — the White Sox besting the Mets for worst ever became a matter of when, not if. Getz insisted the White Sox are on the right trajectory and even said ownership will “potentially” invest more in the organizational infrastructure. Now members of this White Sox team will shoulder the burden of 121 losses and counting into an uncertain future.

Persons: Jerry Reinsdorf, Jerry, ”, Reinsdorf, “, Craig Anderson, it’s, we’re, Jayson Stark, Chris Getz, Getz, Justin Casterline, Grady Sizemore, Sizemore, Pedro Grifol, I’ve, ” Sizemore, “ I’ve, Garrett, Jared Shuster, Korey Lee, Zach DeLoach, Luis Robert Jr, ” Robert, that’s, Gavin Sheets, ” Sheets, ” Andrew Benintendi Organizations: DETROIT, Chicago White Sox, Los Angeles Angels, MLB, Sox, Tigers, White Sox, New York Mets, Mets, “, Angels, The Tigers, Chicago, Royals, Guardians, AL Central, American League Central Locations: Chicago

☆ What the Eric Adams indictment means for New York City's leadership and future
▼ + stars: | 2024-09-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the walls are closing in on New York City Mayor Eric Adams after a federal indictment . New York City Mayor Eric Adams was indicted on five criminal counts in a corruption probe accusing him of bribery and receiving illegal campaign contributions from foreign nationals. In one case, according to the indictment, that meant a Turkish Airlines manager offering to charge Adams $50 for two business-class seats worth $15,000 . AdvertisementMessages obtained by prosecutors also show Adams promising his staffer he "always" deleted texts following a discussion of alleged Turkish bribes.

Persons: —, Eric Adams, Eric Adams Seth Wenig, Alyssa Powell, Adams, Damian Williams, Gary Hershorn, He's, Alex Spiro, Elon Musk's, Kathy Hochul, Jumaane Williams, Ali Jarekji, it's, David Tepper, Sam Altman's, Getty, Olivier Verriest, Andrei Akushevich, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Nathan Rennolds, Amanda Yen, Milan Sehmbi Organizations: Business, Service, New York City, New, Democrat, Brooklyn Borough, Southern, of, Turkish Airlines, FDNY, Reuters, Financial Times, YouTube, Snapchat, Publishers, York Film Locations: New, States, New York, Manhattan, of New York, Turkish, Ali, Saudi Arabia, China, London

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