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CNN —New York Rep. Anthony D’Esposito, one of the GOP’s most endangered House incumbents, reportedly gave both his lover and his fiancée’s daughter part-time jobs in his district office on Long Island, a potential violation of House ethics rules. D’Esposito is locked in a tight rematch with Democrat Laura Gillen, whom he defeated by fewer than 10,000 votes two years ago. D’Esposito maintained he will “absolutely” continue his race for reelection “and win.”Both his fiancée and lover, in brief conversations with the New York Times, confirmed the reporting. GOP Rep. Marc Molinaro said he has spoken to D’Esposito but declined to comment further. When CNN asked D’Esposito’s fellow Long Islander, GOP Rep. Nick LaLota, about the report, he said he was on the phone.
Persons: Anthony D’Esposito, D’Esposito, Laura Gillen, , , CNN’s Manu Raju, Gillen, George Santos, Santos, Mike Johnson, Johnson, , he’s, ” Johnson, Tom Emmer, Marc Molinaro, ” Molinaro, D’Esposito’s, Nick LaLota, Donald Trump, CNN’s Haley Talbot, Annie Grayer, Sam Fossum, Manu Raju Organizations: CNN, New York Rep, The New York Times, New York’s, , New York Times, New York Police Department, Nassau County Republican, Congressional, Santos ’, GOP, Capitol, Yorkers, Nassau Coliseum, Long, Republicans, New, . New York Republicans Locations: Long, Shore, Capitol, Hempstead, Nassau County, Santos’s district, New York City, .
Now that the Fed has cut rates, mortgage rates have generally held steady. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have been holding steady at around 5.70%, according to Zillow 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. Now that the Fed has cut rates, mortgage rates may not drop further for the rest of the month.
Persons: you'll, Freddie Mac, it's, they've Organizations: Federal, Zillow, Fed Locations: Chevron
U.S. home buyers are gaining tens of thousands in purchasing power as mortgage rates drop. The findings are based on the monthly payment for a median-priced home in the U.S., a 20% down payment and a 6.2% mortgage rate. The analysis applied the same method to each of the 100 largest cities, calculating how much extra buying power homebuyers have in each local market compared with last year. Here are the 15 metro areas where buying power has increased the most based on 6.2% and 6% mortgage rates. Buying power is how much more home a buyer in each market can afford compared with October 2023.
Organizations: Federal Reserve Locations: U.S, Jose , California
The Fed probably can't take rates as low as it would like to, according to Larry Summers. Summers pointed to the Fed's target of 2.9% for the so-called neutral rate. Go to newsletter preferences Thanks for signing up! AdvertisementThe Fed doesn't have the wiggle room to cut interest rates as low as it hopes to, according to ex-Treasury Secretary Larry Summers. In an interview with Bloomberg, Summers said central bankers have likely underestimated the so-called neutral rate, which is the level that neither expands nor contracts the economy.
Persons: Larry Summers, Summers, Organizations: Service, Bloomberg, Business
The measures reduce Social Security benefits accrued during private-sector work to compensate for the state or local government pension benefits. The Social Security Administration reported the average monthly check as of July 2024 is about $1,783. Meanwhile, nearly half of WEP-affected Social Security beneficiaries had pensions above $3,000 a month in 2023. In her 20s, McLeod worked various part-time and lower-paying clerical roles, all of which paid into Social Security. "They said you get a good enough retirement from the state, so you'll be OK not getting all your Social Security."
Persons: , Patrice Earnest, Earnest, Jane Roth, Roth, She's, she'd, it's, Karen Smith, Janis Hernandez, Critics, they've, we're, Louisiana Sen, Bill Cassidy, Republican who's, Anne McLeod, McLeod Organizations: Service, Social, Business, , Social Security, GPO, Security, Workers, Urban Institute, Social Security Administration, Center, National Task Force, Force, Republican, Budget Locations: New Haven, Louisiana, New Orleans
Take a look below at the stocks we found that have formed golden cross patterns, according to FactSet data. McDonald's McDonald's made the screen. Goldman Sachs on Monday reiterated its neutral rating but lifted its price target on McDonald's shares by $41 to $325, which implies 8.7% potential upside. Cisco Systems Cisco Systems shares are up about 3.8% this year and made the cut. Analysts polled by FactSet have an average price target of $83.79, which forecasts less than 1% upside for shares according to Monday's close.
Persons: Dow, McDonald's McDonald's, McDonald's, Goldman Sachs, Christine Cho, Pierre Ferragu, Monday's, Wells, Wells Fargo Organizations: McDonald's, Cisco Systems, Nasdaq, Cisco Systems Cisco Systems, CF Industries, FactSet Locations: Monday's, Wells Fargo
The US military deployed its Mid-Range Capability, or Typhon, missile system to the Philippines in April, and US military officials have expressed interest in deploying it in Japan. The MRC is a versatile new ground-based missile system that is capable of firing the Standard Missile 6 (SM-6) and Tomahawk Land Attack Missile System. The US military deployed the missile system overseas for the first time in April, putting it in the Philippines amid a joint exercise between the two militaries. AdvertisementWhile the new weapon wasn't fired during the exercise, its presence in the region irked China, which demanded the system be removed. Russia is said to have violated the Cold War-era arms-control pact by developing and fielding the SSC-8/9M729 missile system.
Persons: , wasn't, Zachary Anderson, Enrique Manalo, Wang Yi, Manalo, Lin Jian, Army Christine Warmouth, Lin, Robert S, Price, Trump, Vladimir Putin's Organizations: Service, Business, MRC, Missile, US Army, US Army Pacific, US Navy, Zachary Anderson Philippine Foreign, Association of Southeast, Nations, Defense, Army, ., Navy, US, Nuclear Forces Treaty, NATO Locations: China, Beijing, Philippines, Japan, Zachary Anderson Philippine, Laos, Pacific, Russia, Moscow, Europe, Ukraine
Invitation Homes is poised to pay over $48 million in a settlement with the FTC. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe country's largest single-family home rental company is poised to pay more than $48 million as part of a proposed settlement with the Federal Trade Commission over allegations that it deceived and overcharged consumers.
Persons: Organizations: FTC, Service, Federal Trade Commission, Invitation, Business Locations: California
OpenAI CEO Sam Altman used to be "super anti-Burning Man." Altman said on the podcast he's been to Burning Man five or six times. "Everyone so happy, so engaged, so present that I was like, 'OK, I was wrong to be so negative on Burning Man.'" A photo of Burning Man attendees on the playa of Black Rock City. "This is one possible, like, part of what the post-AGI world can look like," Altman said on the podcast.
Persons: Sam Altman, Altman, he's, Aly Weisman Altman, we'll, everyone's, Organizations: Service, Business, bros, Black Rock City . Business Locations: Nevada's, Black Rock
CNN —When the Philadelphia Phillies won the National League (NL) East for the fifth year in a row in 2011, they probably did not expect to have to wait too much longer for their next division title. Fast-forward to Monday night and the Phillies have clinched their first NL East crown in 13 years with a 6-2 win over the Chicago Cubs at Citizens Bank Park. Only the Los Angeles Dodgers (93-63) have a better record in MLB this season than the Phillies (93-64). “This is what you work for all year,” two-time NL MVP Bryce Harper told NBC Sports Philadelphia from a raucous locker room. To be able to win your division, it’s hard to do in baseball.
Persons: Rob Thomson’s, , Bryce Harper, “ I’ve, “ We’ve, we’ve, Kyle Schwarber, We’re, We’ve, Rob Thomson, Matt Slocum, Schwarber, JT Realmuto’s, Ryan Howard, Nick Castellanos ’, Trea Turner, Luis Vázquez, Harper, Castellanos, Michael Busch Organizations: CNN, Philadelphia Phillies, National League, Phillies, NL East, Chicago Cubs, Citizens Bank, The Atlanta Braves, Atlanta, Los Angeles Dodgers, MLB, NBC Sports Philadelphia, Milwaukee Brewers, Houston Astros, Cubs Locations: Philadelphia
The U.S. Justice Department on Tuesday sued Visa , the world's biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing "exclusionary" agreements on partners and smothering upstart firms. "Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service," Garland said. "As a result, Visa's unlawful conduct affects not just the price of one thing – but the price of nearly everything." "These agreements penalize Visa's customers who route transactions to a different debit network or alternative payment system." 4 behind Visa, MasterCard and American Express .
Persons: Merrick Garland, Garland, Joe Biden's, Discover's Organizations: U.S . Justice, Visa, DOJ, MasterCard, fintech, Plaid, Mastercard, Federal Trade Commission, Consumer Financial, Bureau, Capital, Discover Financial, American Express Locations: New York, U.S
Oktoberfest is a worldwide phenomenon, a Bavarian beer festival celebrated in countries around the globe. Revelers, dressed in leather lederhosen, celebrate Oktoberfest in Munich on Sept. 21, 2024. A waiter brings beer to a table during Oktoberfest in Munich, Germany on Sept. 22, 2024. The world's biggest beer festival ends on Oct. 6, 2024. A waitress carries a tray of food at the start of the Munich Oktoberfest celebration.
Persons: Johannes Simon, Beer, Kirill Kudryavtsev, Revelers, Ein, driel, Crown Prince Ludwig, Princess Therese von Sachsen, Felix Hörhager, Alexander Hassenstein, Marco Polo, Jeff Dean Organizations: Munich's Department of Labor, Getty, Afp, Oktoberfest Museum, Oktoberfest Locations: Bavarian, Munich, steins, Germany, Hildburghausen, Munich's Beer, Salzburg, Austria, Rothenburg, Hong Kong, Hong Kong Harbour, Cincinnati , Ohio
Kovrig and Spavor were only freed after US prosecutors dropped the extradition request and agreed to release Meng, nearly two years later. Chinese officials did not publicly disclose any evidence against Spavor or Kovrig, or detailed information relating to their trials, which were held behind closed doors. Michael Kovrig embraces his separated wife Vina Nadjibulla after arriving at Pearson International Airport in Toronto, on September 25, 2021. You are going to be interrogated,’” Kovrig said. After six months, Kovrig said he was moved to a larger cell with plexiglass windows, which he shared with a dozen cellmates.
Persons: Hong Kong CNN — Michael Kovrig, Michaels, ” Kovrig, Michael Spavor, Kovrig, , ‘ That’s, ’ ”, Meng Wanzhou, Meng, Michael Kovrig, Vina Nadjibulla, Frank Gunn, ’ ” Kovrig, “ I’ll Organizations: Hong Kong CNN, CBC News, International, Group, Huawei, Pearson International Airport, , CNN, China’s Ministry of Foreign Affairs Locations: Hong Kong, China, Beijing, Ottawa, Canadian, North Korea, Vancouver, Toronto
DJT shares climbed as much as 7% in heavy trading shortly after the opening bell. The upswing followed six straight trading days in the red, which drove Trump Media stock down more than 32%. Stock Chart Icon Stock chart icon Trump Media (DJT) Stock PriceThat dive was just the latest negative stretch in a monthslong slump for Trump Media, which went public in late March after completing a merger with a special purpose acquisition company. Since surging to an intraday peak of $79.38 per share in its Nasdaq debut, Trump Media stock has lost more than 84% of its value. On Monday, the stock fell to its lowest point since before October 2021, when news of a planned merger between Trump Media and the SPAC, Digital World Acquisition Corp., was first made public.
Persons: Donald Trump Organizations: Getty Images Trump Media, Truth, Trump Media, Nasdaq, Trump, Republican
But Moscow doesn't appear ready to acknowledge that it's not in a financial position to cut Europe off from its natural gas exports completely. Russia's oil and gas revenues hit 8.82 trillion rubles, or $94.6 billion, in 2023. That's 24% lower than the 11.6 trillion rubles it recorded in 2022, when revenues jumped due to oil price volatility. In 2021, Russia's oil and gas sales revenue stood at 9 trillion rubles. To be sure, other geopolitical factors could also be playing into Russia's decision to keep natural gas exports moving into Europe.
Persons: , it's, Sergey Lavrov, Lavrov, It's, There's, Naftogaz Organizations: Service, Sky News Arabia, Russian, Business, West, P, Oxford Institute for Energy Studies, Bloomberg Locations: Moscow, Russia, Europe, United States, Ukraine, Nord, Ukraine's
Five days ago, I did something revolutionary for a Gen Zer: I deleted all the social media apps from my phone. Social media dependency is a real problem, recent data shows. So much of my free time throughout the day was consumed by mindless scrolling on the social media platform X and Instagram. Disconnecting allows time for a self-auditGoing on a 30-day silent retreat is a much greater challenge than ditching social media for a few days. One commonality between social media detoxes and silent retreats is that Jerjian and Liu also weren't able to access social media during the retreats — where the use of phones wasn't allowed outside of emergencies.
Persons: George Jerjian, Weiting Liu, Arc.Dev, Liu, Jerjian, He's, It's Organizations: CNBC
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: +1 min
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia's biggest economy to spur growth. Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. "We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City. Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said.
Persons: Satya Nadella, Marcelo Ebrard Organizations: Microsoft, Tech, Viasat Locations: Jakarta, Indonesia, Mexico, Mexico City
The Noticias Telemundo channel on WhatsApp gained more than 30,000 followers in just the first two weeks and now has more than 820,000 followers, Ms. Planells said. Meta, which owns the app, says about 1.9 billion of its two billion users live outside the United States. WhatsApp Channels exist in a separate tab from the main messaging section of the app. People, businesses or organizations can create a channel to send video, text or links to anyone who follows them. The traffic created by WhatsApp still pales in comparison with what Google and Facebook send to publications.
Persons: Planells, , WhatsApp Organizations: Noticias Telemundo, WhatsApp, Meta, Google, Facebook Locations: United States
In today's big story, why you should care about a potential Intel-Qualcomm deal , even if it might not work. Getting all that varied experience has proved particularly beneficial for TSMC in the age of cutting-edge mobile and AI chips. The US needs Intel to keep (and get better at) manufacturing chips. The problem with that is that this manufacturing business would have almost no customers, and would fall even further behind TSMC. Experts seem incredibly skeptical about a Qualcomm deal going through.
Persons: , Jamie Dimon, Moneyball, Rupert Murdoch's, Chelsea Jia Feng, I'm, it's, Palantir alums, Jamie Dimon Tom Williams, he's, Goldman Sachs, Chelsea JIa Feng, ChatGPT, Vinod Khosla, Chris Gash, Lachlan Murdoch, Murdoch, Lachlan's, Caroline Ellison, Biden, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Milan Sehmbi, Amanda Yen Organizations: Service, Intel, Qualcomm, Business, Tech, Getty, TSMC, Inc, JPMorgan, Bank of America, Big Tech, Web Services, Employees, Bloomberg Global Business Forum, FAA, OPEC, Oil Locations: Taiwan, China, San Francisco, Nevada, New York, London
Read previewTennr, an A16z-backed startup using AI to replace faxes in healthcare, is raising a Series B round just seven months after its Series A. The startup is grabbing fresh cash from Lightspeed Venture Partners, according to two people with knowledge of the efforts. Those two people said Lightspeed preempted the fundraising efforts, approaching Tennr before the startup set out to raise more money. AI startups like Perplexity and Groq are reportedly tacking on more funding right now after closing big deals earlier this year. Some investors are taking the same approach with healthcare AI startups.
Persons: , Tennr, Andreessen Horowitz, clamor, Forbes Organizations: Service, Lightspeed Venture Partners, Lightspeed, Business, Menlo Ventures, A16z Locations: Tennr, A16z . New York
CNN —Dick Van Dyke is 98 and feeling it. After the legendary comedic actor had to pull out of a planned appearance at the recent Emmy Awards and an event in Utah, the New York Post caught up with Van Dyke as he was leaving a pharmacy in Malibu on Monday. “I feel old,” they reported a smiling Van Dyke saying when asked how he was doing. It had been announced on Monday that he would also no longer be attending a three-day fan event in Salt Lake City, Utah next weekend. The “Mary Poppins” star has continued working in recent years, including voicing himself for an episode last year of the animated series “The Simpsons.”
Persons: Dick Van Dyke, Van Dyke, , , Mary Poppins ” Organizations: CNN, New York Post Locations: Utah, Malibu, Salt Lake City , Utah
Here are the stocks making notable moves in extended trading on Tuesday: KB Home — The homebuilder fell 6% after fiscal third-quarter earnings missed expectations. KB Home reported $2.04 in earnings per share, slightly below the $2.06 per share expected by analysts, according to LSEG. Rithm Capital — Shares of the asset manager fell 2% after Rithm announced a plan to sell 30 million shares. Progress reported adjusted earnings of $1.26 per share on $178.7 million of revenue. Analysts surveyed by FactSet were looking for $1.14 in earnings per share on $176.2 million of revenue.
Persons: Rithm Organizations: Rithm
Georgia voter Christine Nguyen and John King in Decatur, Georgia CNNRebel Teahouse is in Decatur, in reliably blue suburban DeKalb County just outside Atlanta. It is one of the places that helped Biden to his stunning, razor-thin 2020 Georgia win and is now a key test of whether Harris can assemble a similar winning coalition. “Absolutely no,” was Gardner’s answer when we asked whether the switch from Biden to Harris would make him rethink. Republican George W. Bush won 66% in Gwinnett in 2004; in 2020, Biden carried the county with 58%. CNNLike Ngyuen, Hallmon sometimes finds herself in debates over whether Harris or Trump is better for small business and the overall economy.
Persons: Kamala Harris, Christine Nguyen, , ” Nguyen, That’s, Nguyen, Joe Biden, Donald Trump, Harris, , John King, Biden, Trump, Biden’s, Kamala, ” Harris, , Jan Gardner, ” John King, Suresh Sharma, CNN Suresh Sharma, ” Sharma, Sharma, Republican Mitt Romney, Cobb, , Harris Chantá Villano, Willis, Villano, I’ve, ” Villano, ” Willis, ” Kim Cavaliere, Republican George W, Bush, Cavaliere, ” Cavaliere, ” Hallmon, Hallmon, ’ Hallmon, Martin Luther King Jr, Lakeysha Hallmon, that’s Organizations: Georgia CNN, Biden, Trump, Democratic, Decatur , Georgia CNN, Black, White, CNN, Statewide, American, Pacific Islanders, NASA, General Electric, Republican, Republican Party, Washington, Retail, Sears, Ward Locations: Decatur, Georgia, battlegrounds, Decatur , Georgia, DeKalb County, Atlanta, United States, India, Jamaica, Vietnam, Marietta, Cobb County, Mexico, Powder Springs, MAGA, cryptocurrencies . Georgia, Powder Springs , Georgia, Massachusetts, Gwinnett County, Gwinnett, Ponce City, Atlanta’s
On Monday, Israel intensified its air campaign on Hezbollah, launching “extensive strikes” targeting the Iran-backed militant group in Lebanon. It is unclear how many of the casualties were civilians or Hezbollah militants, but many of the locations described by Israel as Hezbollah targets are also residential neighborhoods and villages. The nearly 500 killed on Monday alone is roughly half the number of Lebanese killed throughout the entire 34-day war between Israel and Hezbollah in 2006. Why is Israel attacking Lebanon? The US believes that neither Israel nor Hezbollah are interested in a full-scale war, but a major concern is that Iran, a key backer of Hezbollah, will get involved, US officials told CNN.
Persons: CNN — Israel, Benjamin Netanyahu, Israel, Isarel, Daniel Hagari, Mahmoud Zayyat, Amos, Stringer, Mohamed Hamayda, Firass Abiad, ” Hagari, Netanyahu, Fadel Itani, , Halevi, Leon Panetta Organizations: CNN, Hezbollah, Getty, Ramat, United Nations General Assembly, Reuters, Agence France, Presse, Lebanon’s, Hamas, UN Security Council, Former US Defense, CIA, UN, Assembly, State Department Locations: Lebanon, Israel, Iran, Lebanon’s, Syria, Lebanese, Sidon, AFP, Tyre, Beirut, Meggido, Afula, Deir, Gaza, Palestinian, Tehran, Yemen, Iraq, Beirut's, , Qatar, France, New York, United States
During a job interview I was asked what the company needed to do to keep me. I played back in my head all the times that I was told to stay closeted so as to not be judged. 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 . The conversation flowed until they asked the most astounding question of my career:This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Business
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