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☆ Follow a simple, 'unorthodox' 4-step strategy and buy these 5 stocks to mimic the returns of a top-3% mutual fund over the last decade
▼ + stars: | 2024-07-16 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewA growth-heavy mutual fund has crushed its index in the last decade thanks to a remarkably simple investing strategy that most bottom-up portfolio managers would decry as heresy. The Hennessy Cornerstone Growth Fund (HFCGX) managed by Neil Hennessy, Ryan Kelley, and Josh Wein is in the top 3% of its category in the last 10 years, according to Morningstar. AdvertisementThis stock screen, which doesn't examine a company's management team or balance sheet, is "a little bit unorthodox," Wein acknowledged. A 4-part pathway to strong gainsThough unconventional, the four-part vetting process that serves as the backbone of the Hennessy Cornerstone Growth Fund is far from unproven. Although Wein doesn't select stocks like most other managers, he still highlighted five stocks that he's most excited about.

Persons: —, Neil Hennessy, Ryan Kelley, Josh Wein, Morningstar, It's, Wein, " Wein, they're, Hennessy, They're Organizations: Service, Cornerstone Growth, Business, Hennessy Cornerstone Growth, Urban Outfitters, Emcor

2In the background of the page, a satellite image of Nuseirat shows the location of a building with 1 hostage, and a nearby building with 3 hostages. On June 8, Israel conducted one of the most high-risk operations of the war — a rescue in broad daylight of four hostages held by Hamas in Nuseirat, a densely populated area. Israel achieved that goal, but within minutes, the operation escalated into a firefight and a series of airstrikes that killed scores of people. The Israeli military said it came under fire by Hamas and ordered the strikes. The New York Times was not able to verify which came first.

Persons: Israel Organizations: New York Times Locations: Nuseirat, Israel

☆ Team USA has owned the Olympic swimming pool — is that about to change in Paris?
▼ + stars: | 2024-07-16 | by ( Nicole Auerbach | ) www.nytimes.com time to read: +9 min

Its anthem played, over and over again, as the Americans received their gold medals atop the podium. AdvertisementU.S. swimmers have won the overall medal count and the gold medal count so often over the years that it almost has been taken for granted. Heading into the Paris Games, the Australians will be favored to win the most gold medals in the pool. Of the nine swimmers who won multiple individual gold medals, Katie Ledecky was the only American swimmer to do so. Still, USA Swimming president and CEO Tim Hinchey III has said the organization’s goal is to win the total medal count and the gold medal count.

Persons: Michael Phelps, wasn’t, Todd DeSorbo, we’ve, —, ”, Cate Campbell, ” Campbell, Katie Ledecky, Bob Bowman, Caeleb Dressel, Simone Manuel, Sarah Stier, Campbell, Phelps, he’d, we’ll, ” Phelps, Mollie O’Callaghan, Dressel, he’s, Bobby Finke, Ryan Murphy, Gretchen Walsh, Regan Smith, Kate Douglass, Walsh, Smith, Kaylee McKeown, Maggie Mac Neil, Summer McIntosh, Zhang Yufei, Douglass, McIntosh, McKeown, Alex Walsh, breaststroker Lilly King, Katie Grimes, breaststrokers Nic Fink, Matt Fallon, Carson Foster, Frenchman, Léon Marchand, Ryan Lochte, Ledecky, Lochte, Tim Hinchey, ” DeSorbo, “ We’re, Dan Goldfarb, Tom Pennington, Al Bello Organizations: Paris Games, Team USA, ” Count, “, Australia’s, NBC, Ledecky, Games Locations: Barcelona, Tokyo, United States, East Germany, Fukuoka, Japan, Paris, U.S, “ Australia, China, Britain, Rio de Janeiro, Ledecky, USA, Croatia

For Donald J. Trump’s most devoted supporters, the bullet that nicked his ear and came within inches of ending his life was only further proof that a higher power is looking out for him. “I don’t see this as luck,” said the Rev. Nathaniel Thomas, a Republican National Convention delegate and a pastor from the Washington, D.C., area. “I see this as God’s protection.”After he spent decades pursuing riches, fame and power, Mr. Trump’s life has been far from pious. Yet he has drawn a committed core of followers — many in Milwaukee this week for his nominating convention — who view him as handpicked by God for a second term in the White House.

Persons: Donald J, Trump’s, “, ”, Nathaniel Thomas, Jesus, Cyrus, David, Trump Organizations: Republican National Convention, D.C Locations: Washington, Milwaukee

☆ Macy’s rejected a takeover offer and is betting on itself
▼ + stars: | 2024-07-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Macy’s management ended talks with private investors attempting to take over the company and will pursue its own turnaround strategy to remake the chain. The investors planned to take Macy’s private and consider spinning off its real estate assets or separating its online operations from brick-and-mortar stores. But Macy’s rejected a previous offer to buy the company at $21 a share in January. In March, the investors upped its offer to $24 a share, and Macy’s agreed to enter into talks about the bid. Macy’s will instead stick with its own strategy, led by new CEO Tony Spring, which includes closing underperforming Macy’s stores and investing in its luxury Bloomingdale’s and Bluemercury chains.

Persons: Macy’s, Tony Spring, Neil Saunders, ”, –, CNN’s Chris Isidore Organizations: New, New York CNN, Arkhouse Management, Brigade Capital Management, Investor, Sears, Walmart, Target Locations: New York

☆ Russia Sentences U.S. Journalist in Absentia for Ukraine War Comments
▼ + stars: | 2024-07-15 | by ( Neil Macfarquhar | ) www.nytimes.com time to read: +1 min

A Moscow court on Monday sentenced in absentia Masha A. Gessen, the Russian-born American journalist, author and New York Times staff member, to eight years in prison over comments they made about atrocities that the Russian military has been accused of committing in Ukraine. Gessen, who lives in the United States and uses the pronoun they, in August over a 2022 interview they gave to Yuri Dud, a popular online Russian journalist. The corpses of at least 400 civilians were found in Bucha after Russian forces retreated from the city. Gessen guilty of spreading “false information” about the Russian military, an all-too-common tactic against critics as the Kremlin uses the courts to suppress any information about the war that diverges from the official version. Russia has accused Ukraine and its Western allies of staging the Bucha massacre.

Persons: Masha A, Yuri Organizations: New York Times, YouTube, Kremlin Locations: Moscow, Russian, Ukraine, United States, Ukrainian, Bucha, Russia’s Basmanny, Russia

☆ James B. Sikking, ‘Hill Street Blues’ and ‘Doogie Howser, M.D.’ star, dead at 90
▼ + stars: | 2024-07-15 | by ( Jack Guy | ) edition.cnn.com time to read: +1 min

CNN —Actor James B. Sikking, best known for roles in the TV shows “Hill Street Blues” and “Doogie Howser, M.D.” has died at the age of 90. Sikking (center) as Howard Hunter in "Hill Street Blues." It featured diverse, colorful and three-dimensional characters – the policemen and policewomen of the rundown Hill Street Station. Sikking played Howard Hunter, head of the SWAT-like Emergency Action Team, over 144 episodes of the show, from 1981 to 1987. He played Dr. David Howser, father of teenage genius Doogie, played by Neil Patrick Harris.

Persons: James B, “ Doogie Howser, M.D, ”, Sikking, Cynthia Snyder, Howard Hunter, Steven Bochco, Hunter, “, ” Sikking, didn’t, Bochco, David Howser, Doogie, Neil Patrick Harris Organizations: CNN, Blues, Variety, NBC

☆ Burberry CEO is out after company warns about its profit
▼ + stars: | 2024-07-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —British luxury brand Burberry is replacing its chief executive following another disappointing quarter in which sales plunged more than 20%. Jonathan Akeroyd is leaving Burberry with “immediate effect,” the company said in its earnings release Monday, and replacing him with Joshua Schulman, a luxury wear veteran that has held CEO roles at Coach and Michael Kors. A global slowdown on spending on luxury goods has also forced Burberry to issue a profit warning, and it scrapped its dividend. “There is a sense that Burberry has been on the back foot and that Jonathan Akeroyd’s revitalization plans have largely failed to stop the rot,” Saunders told CNN. “A course correction has been needed for some time and Burberry is hoping a new CEO can deliver this.”

Persons: Jonathan Akeroyd, Joshua Schulman, Michael Kors, Akeroyd, Burberry, Gerry Murphy, ” Murphy, “, Neil Saunders, Jonathan Akeroyd’s, ” Saunders, ” Organizations: New, New York CNN, Burberry, London Stock Exchange, GlobalData, CNN Locations: New York

☆ China third plenum: Communist Party meets to set direction for troubled economy
▼ + stars: | 2024-07-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Stakes are high for the meeting, which takes place every five years and is known as China’s third plenum. It has historically been a platform for the party’s leadership to announce key economic reforms and policy directives. China’s gross domestic product expanded by 4.7% in the April to June months, compared to the previous year. But observers of China’s opaque political machine don’t believe there will be fundamental economic reforms this time around. Uncompleted residential buildings at a real estate project on the outskirts of Shenyang in China's Liaoning province earlier this year.

Persons: Hong Kong CNN —, Xi Jinping, Xi, , Xi’s, Andrea Verdelli, They’ll, ”, Neil Thomas, Jing Qian, Li Shangfu, Qin Gang, Li Yuchao, Xu Zhongbo Organizations: Hong Kong CNN, Communist Party, West, Reuters, party’s Central, US, Congress, Bloomberg, Getty, Observers, ” Asia Society Center, China, Tech, EU, Central Committee, Foreign, People’s Liberation Army Rocket Force Locations: China, Hong Kong, Beijing, United States, Europe, party’s, Shenyang, China's Liaoning, China's Shandong

☆ From Exile in London, a Crime Novelist Works to Transform Russia
▼ + stars: | 2024-07-14 | by ( Neil Macfarquhar | ) www.nytimes.com time to read: +1 min

The Kremlin recently labeled the author — who went into self-imposed exile in London a decade ago — a “terrorist” and effectively banned his works. When President Vladimir V. Putin ordered the invasion of Ukraine in February 2022, Mr. Akunin wrote on Facebook, “Russia is ruled by a psychologically deranged dictator and worst of all, it obediently follows his paranoia.” At that time, he began contemplating how cultural figures fleeing abroad might still reach their domestic audience and perhaps help to spur change at home. Being cut off from his own readers lent the project special urgency. “I have to say, the amount of work and writing I’ve been doing over these two terrible years, never in my life have I written so much,” he told the audience members, who laughed when he said that a writing binge trumped a drinking binge. “It is a form of escapism.”

Persons: Boris Akunin, “, ” Mr, —, ”, Vladimir V, Putin, Akunin, obediently, I’ve Organizations: Russian Army, Facebook Locations: London, Ukraine, Russia

☆ How to Watch the Republican Convention
▼ + stars: | 2024-07-13 | by ( Neil Vigdor | More About Neil Vigdor | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump will formally accept the Republican presidential nomination for a third election cycle during the party’s national convention in Milwaukee. The New York Times will stream the convention speeches during prime time, alongside real-time commentary and analysis from reporters. C-SPAN will stream the convention at C-SPAN.org and on the C-SPAN Now mobile app. CBS’s streaming platform, CBS News 24/7, will start its nightly coverage at 7 p.m., but it will not carry the convention gavel to gavel. ABC News will offer nightly coverage on ABC News Live, its streaming platform, from 7 p.m. to midnight.

Persons: Donald J, Trump, Lester Holt, Savannah Guthrie Organizations: New York Times, SPAN, CBS, NBC, ABC, ABC News Locations: Milwaukee, gavel, Savannah

☆ A famed economist who called the 2008 recession shares 5 signs the US is on the brink of a downturn — all while the stock market shows concerning weakness beneath the surface of record highs
▼ + stars: | 2024-07-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

But don't bet on a soft landing outcome for the US economy as the Fed gets set to cut rates, says famed economist David Rosenberg. AdvertisementRosenberg ResearchRosenberg's downbeat views on the labor market come amid his skepticism about the impressive rallies in major stock-market indexes like the Nasdaq 100 and the S&P 500. Still, as Rosenberg points out, some say the Fed needs to act urgently as the labor market weakens. Waiting too long to lower interest rates to support the economy will only increase the odds of the job market breaking down." Rosenberg has been consistently bearish on the US economy in recent months, while the labor market has continued to prove him wrong.

Persons: —, David Rosenberg, Rosenberg, Merrill Lynch's, Eli Lilly, Russell, Neil Dutta, Dutta Organizations: Service, Fed, Rosenberg Research, Business, Bureau of Labor Statistics ', Survey, Nasdaq, Nvidia, Microsoft, Meta, Macro

☆ Donald Trump transformed the federal judiciary. He could push the courts further right in a second term
▼ + stars: | 2024-07-13 | by ( Andrew Seger | Phil Mattingly | ) edition.cnn.com time to read: +9 min

“I totally transformed the federal judiciary,” Trump boasted at a summit hosted by the right-wing Moms for Liberty group last summer. “Many presidents never get the opportunity to appoint a Supreme Court justice. But as Trump drives toward a potential second term, one thing is clear: He’s just getting started. (Project 2025 is the policy playbook crafted by the conservative Heritage Foundation for a potential second Trump term.) That intent for vengeance could set the bar for nominations and administration lawyers alike in a second Trump term.

Persons: CNN —, Donald Trump, “, ” Trump, Trump, ” Gregg Nunziata, Joe Biden, ”, Antonin Scalia, Samuel Alito, Clarence Thomas, It’s, Alito, Thomas aren’t, Skye Perryman, it’s, Trump’s, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett –, “ Will, Hugh Hewitt, Mitch McConnell, I’ve, ” McConnell, Wade, Aileen Cannon –, ” Donald B, George H.W, George H.W . Bush, that’s, they’ve, Fox News ’ Sean Hannity, ” Will Chamberlain, Ron DeSantis, John Eastman, “ We’ve, ” Eastman Organizations: CNN, Liberty, Trump, Republican Party, Society, Federalist Society, Democracy, Heritage Foundation, Republican, EPA, Biden, Fox News, III, Florida Gov, Conservatism Conference Locations: “, Los Angeles, kilter, Dallas, Trump’s, Florida, George H.W ., Washington

☆ Ellen DeGeneres said she's 'done' with fame after her upcoming Netflix special. Here's a complete timeline of the backlash she's faced since 2020.
▼ + stars: | 2024-07-12 | by ( Olivia Singh | ) www.businessinsider.com time to read: +32 min

Read previewThe talk show host Ellen DeGeneres has long been considered a beloved celebrity for her friendly and funny public demeanor. "Maybe I'm being naive, but I expected them to welcome me with confetti: Welcome to 'The Ellen DeGeneres Show'!" Next thing we know, we literally hear Steve Jobs pick up and say, 'Hi, Ellen' … Ellen told him the iPhone should have a bigger font," the producer said. I have been getting calls asking me about the Ellen Degeneres Show and I would like to address the time I spent there. AdvertisementPaytas appeared on "The Ellen DeGeneres Show" in 2010 when she was 22 years old to showcase her speed-reading talent during an audience talent segment.

Persons: —, Ellen DeGeneres, Nikkie de Jager, DeGeneres, NikkieTutorials, vlogger, de Jager, hadn't, van, Sebastian Williams, van Nieuwkerk, YouTuber, De Jager, Pop Crave, Ellen, Jonas, Kevin T, Porter crowdsourced, you've, Portia de Rossi, wouldn't, didn't, X weren't, I've, Kevin Winter, Stagehands, Jimmy Kimmel, John Oliver, Samantha Bee, Ellen DeGeneres's, Jordan Strauss, Tom Majercak, Majercak, de Rossi, Steve Granitz, Steve Jobs, Jobs, Jane Lynch's, Katy Perry, Chris Pizzello, Ellen Show, Neil Breen, Breen, Richard Wilkins, she'll, Richard, you'll, Neil, She'll, I'd, I'm, Raymond, Brad Garrett, Garrett, Lea Thompson, Scooter Braun, Kevin Mazur, Braun, Justin Bieber, Ariana Grande, Andy Lassner, James Corden, Corden, Hedda Muskat, Joshua Blanchard, Patrick McMullan, Ed Glavin, Mary Connelly, Muskat, Glavin, Ed, Tony Okungbowa, Okungbowa, Ellen Degeneres, Tony okungbowa, Dakota Johnson, Johnson's, Johnson, that's, Craig, Trisha Paytas, Christopher Polk, YouTuber Trisha Paytas, H3H3, Ethan Klein, Paytas, Ashton Kutcher, Kutcher, De Rossi, Ryan Phillippe, haven't, Jim Spellman, WireImage, Thompson, Phillippe, Jennifer Aniston, Billie Eilish, Greyson Chance, Gaga's, Chance, Stone, she'd, Rolling Stone, would've, It's, Tasos Katopodis, SFGate, Libby Torres Organizations: Service, Business, C Magazine, YouTube, Los Angeles Regional Food Bank, Variety, Warner Bros, Television, ABC, Fox News, New York Post, New York, Producers, AP, BuzzFeed, The Hollywood, British, Twitter, Sun, NBC, Getty, CDC, Centers, Disease Control, West Hollywood, Netflix Locations: Dutch, California, Australian, Melbourne, Dakota, West

☆ 'Fly Me to the Moon' explores the ultimate space race conspiracy theory. Here's what's fact and fiction in the movie.
▼ + stars: | 2024-07-12 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +5 min

Read preview"Fly Me to the Moon," Scarlett Johansson and Channing Tatum's new romantic comedy-drama about faking the moon landing, is fictional but draws on some true historical events. The White House eventually tasks Kelly with filming a fake moon landing in case the real one fails. Apollo 11 spaceship launch director Cole Davis (Tatum) opposes Kelly's plan, believing it will discredit NASA's efforts. This storyline leans into the conspiracy theory that NASA faked the US moon landing in 1969. But there's no evidence to suggests NASA or any network tried to fake the moon landing.

Persons: —, Scarlett Johansson, Channing Tatum's, Kelly Jones, Johansson, Kelly, Cole Davis, Tatum, NASA's, Bill Kaysing, Greg Berlanti, Berlanti, Neil Armstrong, Buzz Aldrin, Michael Collins, Cole, Nick Dillenburg, Christian Zuber, Colin Woodell, Ed White, Roger Chaffee, Gus Grissom, Nikita Khrushchev, Yuri Gargarin, Henry Smalls, Ray Romano, Dan McFadden, Sony Pictures Kelly didn't, David Meerman Scott, Richard Jurek's, Armstrong's Organizations: Service, Business, NASA, Hollywood, Entertainment, Sony Pictures, Television, Sony Pictures NASA's Locations: USSR, Cape Kennedy, Florida, Christian, Vietnam

☆ How to Watch Biden’s News Conference on Thursday
▼ + stars: | 2024-07-11 | by ( Neil Vigdor | More About Neil Vigdor | ) www.nytimes.com time to read: +1 min

President Biden will hold his first solo news conference in eight months on Thursday when he faces reporters at the conclusion of a NATO summit in Washington, a critical test after his halting debate performance that seeded doubts about his re-election campaign. Here’s what to know about the news conference:What time is the news conference on Thursday? The president will take questions at the Walter E. Washington Convention Center, site of this week’s NATO summit. The news conference will wrap up a packed day for Mr. Biden, whose schedule also includes two NATO working sessions and a meeting with President Volodymyr Zelensky of Ukraine. The New York Times will stream the news conference, alongside real-time commentary and analysis from reporters.

Persons: Biden, Walter E, Volodymyr Zelensky Organizations: NATO, Capitol, Washington Convention Center, Mr, New York Times, Associated Press Locations: Washington, Ukraine, apnews.com

☆ Your bank is about to reveal key information about the US economy’s health
▼ + stars: | 2024-07-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Dave Sekera, chief US market strategist at Morningstar, says that he’s watching for insights on banks’ delinquency rates. Consumers have increasingly fallen behind on or missed payments in recent months as they get squeezed by high interest rates. But banks could see higher losses compared to 2023 if the economy were to experience a downturn, the Fed warned. Investors are wagering that the central bank will begin easing rates as soon as September, according to the CME FedWatch Tool. “The worst outcome for all of us is what you call stagflation: higher rates and recession,” Dimon said in an interview with CNBC.

Persons: Wells Fargo, Goldman Sachs, Dave Sekera, Stocks, JPMorgan Chase, Jamie Dimon, Dimon, Matt Egan, it’s, ”, Joe Brusuelas, Mark Zandi, ” Zandi, “, Jerome Powell, Erika Tulfo, “ It’s, Neil Saunders, Abrigo, Gen Organizations: CNN Business, Bell, New York CNN, United, United States ’, JPMorgan Chase, Citigroup, Bank of America, Morningstar, Federal Reserve Bank of New, Fed, Federal Deposit Insurance Corporation, JPMorgan, CNBC, Federal, RSM, “, Moody’s, CNN, GlobalData, Apple Locations: New York, United States, Federal Reserve Bank of New York, China

☆ REC CEO expects labour market to recover in second half of the year
▼ + stars: | 2024-07-11 | 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 EmailREC CEO expects labour market to recover in second half of the yearNeil Carberry, CEO of the Recruitment & Employment Confederation, weighs in on how the labour market has been affected by macro trends such as inflation, falling investment levels, and high interest rates.

Persons: Neil Carberry Organizations: Employment

☆ ‘Fly Me to the Moon’ review: Scarlett Johansson and Channing Tatum star in a space-race rom-com
▼ + stars: | 2024-07-11 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

Less than weighty in the comedy part of its equation, the film largely works as a vehicle for Scarlett Johansson and Channing Tatum, even without completely sticking the landing. In classic fashion, they are of course instantly drawn to each other, creating the need to erect barriers in order to keep them apart. Scarlett Johansson plays a marketing expert recruited by NASA in "Fly Me to the Moon." Perhaps foremost, “Fly Me to the Moon” possesses appealing virtues consciously plucked from the past, then adorns them with modern baubles. “Fly Me to the Moon” premieres July 12 in US theaters.

Persons: Scarlett Johansson, Channing Tatum, Johansson, Woody Harrelson, Nixon, there’s, Cole Davis, Tatum, Johansson’s Kelly Jones, Dan McFadden, Neil Armstrong, Greg Berlanti, Rose Gilroy, Deadpool, Berlanti, “ Love, Simon ”, Faye Dunaway, it’s, Mike ” Organizations: CNN, NASA, Sony, Apple Locations: Lost

☆ Welcome back to Wall Street earnings season
▼ + stars: | 2024-07-11 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +6 min

But for now, we're turning to Wall Street in our big story, as big banks gear up to report their earnings. The big storyEarnings to watchMomo Takahashi/BIJust like that, it's Wall Street earnings season once again. Wall Street banks have been waiting for M&A, IPOs, and other fee-generating corporate dealmaking to come roaring back for two years. In May, the CEO shocked Wall Street by saying he plans to step down in the next five years . Will banks start charging for everyday consumer products like checking accounts?

Persons: —, Joe Biden's, Sen, Peter Welch, Biden, Momo Takahashi, Wells, Goldman Sachs, Morgan Stanley, Kaja Whitehouse, Jamie Dimon's, Kaja, Jefferies, Jamie Dimon, Wall, Marianne Lake, We're, Larry Fink, Jenny Chang, Rodriguez, Neil Dutta, Tesla's, Elon Musk, Jeff Bezos, Rich Guy, Alyssa Powell, Andrei Cojocaru, David Zaslav, isn't, Joe, Zaslav, Jordan Parker Erb, Lisa Ryan, Joe Ciolli, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democrat, Democratic, Hollywood, NATO, Business, showtime, JPMorgan, Citigroup, BlackRock, Bank of America, Getty, Warner Bros, Discovery, Air Lines, PepsiCo, Bureau of Labor Statistics Locations: New York, Chicago, London

☆ US Job Market Is Getting Worse, Unemployment Rising. Fed Needs to Cut.
▼ + stars: | 2024-07-11 | by ( Neil Dutta | ) www.businessinsider.com time to read: +10 min

But increasingly, there are signs that the job market is losing some steam. Whether it's hard data like the unemployment rate or sentiment-based surveys of businesses, it's clear that the labor market has cooled off. It's clear that the Federal Reserve should be the force to slow down the sliding job market. The job market is at an inflection pointThe emergence of the US from the worst of the pandemic shutdowns in early 2020 helped usher in a historic boom for the labor market. If 3% growth could not keep unemployment from climbing in 2023, why would the unemployment rate remain stable in 2024 if growth comes in substantially lower?

Persons: Beveridge, Taylor, Jerome Powell, Powell Organizations: Federal, Fed, Atlanta, Federal Reserve

☆ Target will stop accepting this old-school form of payment
▼ + stars: | 2024-07-10 | by ( Erika Tulfo | ) edition.cnn.com time to read: +1 min

CNN —Target will stop accepting personal checks from customers starting July 15, the latest retailer to stop taking the increasingly rare form of payment and to try to make checkout less cumbersome for shoppers. “It’s hardly surprising Target has decided to stop accepting them,” said Neil Saunders, retail analyst at GlobalData. Around 61% of Americans are still writing checks, according to a 2024 report by Abrigo, a financial software solutions company. It also found that younger consumers, including Gen Z and Millennials, self reported writing more checks than older consumers from Gen X. The decision to stop accepting personal checks comes as the latest move in a series of changes to the retailer’s checkout experience.

Persons: “ It’s, ”, Neil Saunders, Abrigo, Gen Organizations: CNN, GlobalData, Apple, Target

☆ Elon Musk's net worth grew by $67 billion during Tesla's 10-day win streak
▼ + stars: | 2024-07-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Elon Musk's net worth soared to $274 billion after Tesla stock's 10-day stock win streak. AdvertisementElon Musk's net worth soared by $67 billion amid a long winning streak for Tesla stock through Tuesday's trading session, once again making him the world's richest person. The 10-day surge propelled Musk's net worth to $274 billion, according to data from Bloomberg. As Tesla stock hit its 52-week low in April, Musk's net worth declined by $65 billion on a year-to-date basis. But since Tesla stock bottomed, Musk's net worth has zoomed higher by $110 billion.

Persons: Elon, Tesla, Jeff Bezos's, —, Musk, Uber, Neil Roarty, Jeff Bezos Organizations: Service, Elon, Tesla, Bloomberg, Business, SpaceX, Musk, The Boring Company

☆ NASA still expects Boeing's Starliner to return astronauts from ISS, but notes SpaceX backup option
▼ + stars: | 2024-07-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

With NASA astronauts docked at the International Space Station far longer than planned, the agency's leadership on Wednesday acknowledged potential alternatives to Boeing's Starliner for returning the crew to Earth. Still, the Boeing's spacecraft remains the primary option for returning crew, officials said. Starliner has now been in space 36 days and counting as the agency and Boeing perform additional testing in New Mexico before clearing the spacecraft to return. The mission is the first time Starliner is carrying people, flying NASA astronauts Butch Wilmore and Suni Williams. "[But] there's really been no discussion with sending another Dragon to rescue the Starliner crew," Stich added later.

Persons: Butch Wilmore, Suni Williams, Neil A, Starliner, Steve Stich, Butch, Suni, Stich –, Stich, " Stich Organizations: NASA, Boeing, Armstrong Operations, Kennedy Space Center, Cape Canaveral Space Force, SpaceX Locations: Florida, New Mexico, Starliner

☆ Opinion | Trump’s Next Supreme Court Picks Would Be So Much Worse
▼ + stars: | 2024-07-09 | by ( Jay Willis | ) www.nytimes.com time to read: +2 min

Everything we know about Mr. Trump today suggests that he will take his judicial cues not from the conservative legal establishment, as he did previously, but instead from the conservative legal movement’s extreme fringes. Mr. Trump’s decision to publicly align himself with Mr. Leo helped settle the nerves of establishment Republicans who were skeptical of the candidate’s ideological bona fides, and played a significant role in the 2016 election. As president, Mr. Trump selected all his nominees — Neil Gorsuch, Brett Kavanaugh and Amy Coney Barrett — from versions of the shortlist, which he periodically updated. In the past four years, however, Mr. Trump has soured on the conservative legal establishment. The Federalist Society credentials that were once essential for conservative lawyers aspiring to federal judgeships during Republican presidencies are, in Mr. Trump’s world, now apparently a liability.

Persons: Donald Trump, Trump, Leonard Leo, Antonin Scalia, Mr, Leo, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett —, Justice Department —, Federalist Society —, Gorsuch, Kavanaugh, Barrett, Don McGahn Organizations: Federalist Society, Republicans, Mr, White, Justice Department, Society

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