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A one-man startup believes it has an answer to U.S. government concerns over the Chinese-made drones that dominate commercial sales in the American market. Anzu Robotics’s chief executive and founding partners are all American, and the company’s headquarters is in Texas. The company’s drones, which are expected to be used by law enforcement agencies, utilities, architects and others, are assembled in Malaysia, and they run on servers sitting in Virginia. There’s just one problem: Anzu has multiple close ties to China and to DJI, the Shenzhen-based firm being targeted by legislative and regulatory efforts to curb sales of Chinese drones in the United States. Anzu licensed the design for its drones from DJI, which receives a payment for every drone that Anzu orders from its manufacturer in Malaysia.
Persons: Anzu, There’s Locations: Texas, Malaysia, Virginia, China, DJI, Shenzhen, United States
But the vast difference between the net worth of young adults with degrees compared with those without is difficult to ignore. But college graduates stood to benefit the most from both of these broader economic conditions. "Their employers are more likely to offer defined contribution retirement plans and the college-educated are more likely to participate in those retirement plans." Their stronger homeownership and retirement plan contribution rates and may be due to the fact that college graduates earn more. While nearly half of Americans say a college degree is less important today than it was 20 years ago, according to Pew, only 34% say it's very or extremely likely someone without a degree could get a well-paying job today.
Persons: Richard Fry Organizations: Pew, CNBC
In 2011, 86% of college graduates said their degree had been a good investment; in 2013, 70% of U.S. adults said a college education was "very important," according to Pew Research Center and Gallup surveys. Today, 29% of Americans say that college isn't worth the cost — and roughly half (49%) say having a four-year college degree is less important for landing a high-paying job today than it was 20 years ago, according to a new survey from the Pew Research Center. Only 22% of U.S. adults say the cost of getting a four-year degree today is worth it even if someone has to take out loans, Pew found. College graduates on average earn more than those without a four-year degree — but this so-called college wage premium is shrinking. A recent report from the San Francisco Federal Reserve found that the college wage gap peaked in the mid-2010s but declined by four percentage points in 2022.
Persons: Pew, Richard Fry Organizations: Pew Research Center, Gallup, U.S . News, College, San Francisco Federal Reserve, Economic, Institute, Pew, CNBC Locations: U.S
Read previewThe housing market may be starting to turn a corner, offering frustrated buyers a chance to jump back into the market after a long stretch of dismal prospects. "We think the housing market is going to improve over the next half of a year," Glenn Kelman, the CEO of Redfin, in a recent interview. Inventory is risingMore inventory is finally trickling into the housing market, which could help push prices down. Elevated mortgage rates are a key problem in today's housing market, as they deter both buyers and sellers from making deals. Rates dropping to 5%-6% would make the housing market "explode," but even a 6.5% 30-year mortgage rate would be enough to make the housing market "very strong," Reffkin said.
Persons: , Glenn Kelman, That's, Robert Reffkin, Reffkin, Freddie Mac, Redfin's Kelman, Kelman, Compass's Reffkin Organizations: Service, Business, National Association of Realtors, CNBC Locations: Reffkin, Texas, Florida
More than half of Americans think the United States is in an economic recession, although gross domestic product has been increasing for the past several years. According to a new Guardian/Harris poll, 56% of respondents said they believe the U.S. is in a recession and 58% say that President Joe Biden is responsible for what they see as an economic downturn. A recession is an extended period of economic decline, usually designated when GDP has declined for two or more consecutive fiscal quarters. U.S. GDP growth has been outpacing that of other developed nations. The Guardian/Harris poll is yet another example of an ongoing gap between economic data and economic feelings that has nagged the Biden administration in recent months.
Persons: Kristen Visbal, Harris, Joe Biden, Biden, NBC's Organizations: New York Stock Exchange, Guardian Locations: New York City, United States, U.S, ., America
A majority of Americans polled by Harris believe the US is already in an economic recession. About half of Americans polled also believe the S&P 500 is down this year and that unemployment is at a 50-year high. In reality, none of those things are true, and it highlights a big disconnect between Americans' perception of the economy and reality. At least, that's what a majority of Americans believe, according to a recent poll conducted by Harris for The Guardian. What also appears to be driving Americans' disconnect between their views on the economy and the actual economy is politics.
Persons: Harris, , Biden, Job Biden's Organizations: Service, The Guardian
The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families. Inflation made the financial lives “worse” for 65% of US households, according to the report. Three-plus years of high inflation have taken their toll on Americans’ wallets and their psyches. That was especially true in 2022, when US inflation hit 9.1%, its highest annual rate in more than 40 years. Incomes grew healthily in 2023, but so did spending, the Fed report showed.
Persons: , Michelle Bowman, Tuesday’s, they’d Organizations: CNN, Reserve, Tuesday, Household Economics, Survey, , Federal Reserve
Basic income has become a trending strategy to combat poverty in cities nationwide. ARPA funds have been used to partially or fully fund most US basic-income pilots so far, but funds are set to expire. While philanthropy and nonprofit work have been central to basic-income pilots, they are not always a long-term or large-scale funding solution. More GBI programs are electing to focus on specific groups of participants, like low-income parents with children and foster youth. The program is funded through the Temporary Aid to Needy Families Program (TANF), an existing federal cash assistance program for low-income families.
Persons: , Michael Tubbs, Tubbs, It's, Tubbs —, GBI —, Marcela Díaz, let's, Díaz, Teri Olle, Olle, John Gillette, Ken Paxton, Dustin Palmer, GiveDirectly, Palmer, Shafeka Hashash, Hashash, Hashah, GBI Organizations: Service, Business, SNAP, Medicaid, Somos Un, Somos Un Pueblo Unido, Economic Security, New, New Mexico House, California Senate, Republican, South Dakota Republicans, ARPA, Pew Charitable Locations: Stockton , California, Durham , North Carolina, Birmingham, Chicago, Antonio, San Antonio, Denver, Seattle, California, New Mexico, State, Mexico, Somos, Somos Un Pueblo, Economic Security California, Arizona, Iowa, Harris County , Texas, Flint , Michigan
In the voluntary market, customers buy renewable energy in amounts that exceed states' minimum requirements from utility companies. Customers in these programs — also known as utility green power programs — pay their utility a "small premium" to get electricity from renewable sources, according to the U.S. Energy Department. Green power marketing programs Consumers in some states can also opt into "green power marketing programs." watch nowGreen energy programs instead rely on "renewable energy certificates," or RECs. It's a way to provide extra funding to a renewable energy project, typically sold by a broker or marketer rather than a utility, Sumner said.
Persons: Mark Felix, Jordan Vonderhaar, Jenny Sumner, It's, Joe Raedle, Loren Elliott, , Sumner, Valerie Macon, Joydeep Mitra, Mitra Organizations: Afp, Getty, U.S . Energy Information Administration, National Renewable Energy Laboratory, Environmental Protection Agency, Roadrunner, Bloomberg, U.S . Department of Energy, Getty Images, U.S . Energy Department, Yale University's, EPA, Michigan State University Locations: Dawson , Texas, U.S, McCamey , Texas, Solano County , California, California , Connecticut, Delaware , Illinois, Maine , Maryland , Massachusetts, Michigan , New Hampshire , New Jersey , New York , Ohio, Pennsylvania, Rhode Island , Texas, Virginia, California, Imperial , California
After researching affordable places to live in retirement, Ann and her husband settled on Portugal. "Our quality of life is so much nicer because we're not worried about money like we were in the States," Ann said. AdvertisementWhile Ann was able to live comfortably in retirement abroad, many older adults in the US are struggling. "We understand how hard it is to try to accumulate enough money to retire and stay in the United States," Ann said. Advertisement"The United States is a very difficult country to retire in," she said.
Persons: Ann, she's, We've, We're, they've, we're, Diane Senffner Organizations: Service, Business, BI, Social Security, Survey, pats, Social Locations: Belize, United Kingdom, Mexico, Hawaii, Arizona, Scottsdale, Portugal, United States
Why Americans might be getting worried about the job marketIn some ways, Americans' growing pessimism in the job market is perplexing. That's because the job market has become more challenging than it was a couple of years ago, when the Great Resignation was at its peak. So, it's possible that some Americans in certain industries are facing a job market where openings are far from abundant. For example, there's some evidence that the job market for high-wage roles has cooled over the past year. Julia Pollak, the chief economist at ZipRecruiter, told Business Insider earlier this month after April's labor market figures were released by the Bureau of Labor Statistics that it is "no longer a white-hot labor market" or a job "candidate's market in every industry where workers can get whatever they want."
Persons: , they'd, hasn't, What's, Joanne Hsu, Julia Pollak Organizations: Service, York Fed's Survey, Consumer, Business, NY, of Labor Statistics, Bureau of Labor Statistics, New, Fed, LinkedIn, NY Fed, University of, Labor Locations: York
Some of the raucous crowd was there to watch Caitlin Clark — the Fever’s wunderkind rookie — play her first professional game in New York City, some were Liberty fans, and more than a few seemed to be there to cheer for both sides. There were celebrities sitting courtside, like Billie Jean King, Jason Sudeikis, Megan Rapinoe and the actress Amy Ryan. And there was basketball royalty in the building as well, including Sue Bird, Pau Gasol and Dawn Staley, the coach of the South Carolina women’s basketball team that beat Ms. Clark’s Iowa Hawkeyes in this year’s N.C.A.A. tournament final. Every time the Jumbotron flashed one of the famous faces, the crowd seemed to get even more electric.
Persons: Caitlin Clark —, , Billie Jean King, Jason Sudeikis, Megan Rapinoe, Amy Ryan, Sue Bird, Pau Gasol, Dawn Staley Organizations: Barclays Center, New York Liberty, Indiana, Liberty, Carolina women’s, Clark’s Iowa Hawkeyes Locations: New York City
CNN —Majd Kamalmaz, an American man detained in Syria more than seven years ago, has died, according to a statement from the Bring Our Families Home Campaign (BoFH). The visit was held in an effort to secure the release of American prisoners believed to be held by the Syrian government. A vigil is held outside of the White House on February 17 to mark three years since Majd Kamalmaz's detention in Syria. family photo“We do feel invisible,” said Maryam Kamalmaz, speaking on the first-ever Hostage and Wrongful Detainee Day about her father’s disappearance earlier this year. “For the last seven years, we have been struggling to come to grips with my father’s absence,” Maryam Kamalmaz said in the statement announcing her father’s death.
Persons: Majd, Tragically, , Jonathan Franks, Kamalmaz, Maryam Kamalmaz, Joe Biden, ” Maryam Kamalmaz Organizations: CNN, White, ” CNN, US State Department Locations: Syria, Texas, Damascus, Trump, Syrian
Much of it ends up at a plant operated by the Warsan Waste Management Company. “Around 45% percent of Dubai’s total waste comes to this facility,” says Tim Clarke, the company’s CEO. Operational since March of this year, the Warsan plant will use 2 million metric tons of trash annually to produce electricity, enough to power approximately 135,000 homes, according to the company. However, since the plant produces power, replacing the burning of fossil fuels, Warsan Waste Management believes the overall result is positive. But some environmental groups, such as Zero Waste Europe, argue that burning waste to generate electricity discourages efforts to cut waste and initiatives to increase recycling.
Persons: , Tim Clarke, Clarke, , Bryan Staley, Staley Organizations: Dubai CNN, CNN, Warsan Waste Management Company, , United Nations Environment, Waste Management, Energy, Research, Education Foundation Locations: Dubai, Europe, Japan, China, UAE
CNN —Americans in more than half of the states will face voting restrictions this year that weren’t in place four years ago during the last presidential election, a new analysis finds. Kay Ivey in March – makes it a crime in most cases to return an absentee ballot application on behalf of another voter. And it’s now a felony for a person to receive payment for distributing or collecting absentee ballot applications. At least 11 states have enacted laws this year that the Brennan Center officials say make it easier to vote. Given the changed election law landscape, she added, it’s crucial that people who plan to cast ballots this fall start to familiarize themselves with their state’s voting rules.
Persons: Brennan, , Sara Carter, Donald Trump, baselessly, , Kay Ivey, ” Ivey, Grant Baldwin, Michael Swensen, ” Carter Organizations: CNN, Brennan Center for Justice, New York, Brennan Center, Republican Gov, , Getty, Brennan, Kentucky Locations: North Carolina, Alabama, Idaho, Charlotte , North Carolina, Carolina, Louisville , Kentucky, Nebraska
Fewer women apply for 6-figure positionsAccording to iCIMS's analysis, women have made up 41% to 44% of applicants for six-figure jobs across Asia, Europe, the Middle East, South America, and the US since 2020. In other words, though they constitute less than half of applications for six-figure jobs, they are often hired for more than half of those jobs. "The fact that they are applying for these six-figure jobs does not imply that the gender pay gap is narrowing," says Njuki. "This would require a comparison between the women in those six-figure jobs and the men in those six-figure jobs." "A big reason for the gender pay gap is not enough women in the higher-paid managerial and leadership positions.
Persons: , Hewlett Packard, Jemimah Njuki, Yana Rodgers, Rodgers, Njuki, It's Organizations: Service, Business, Vanguard, Hewlett, UN, Center for Women, Rutgers University, McKinsey Locations: Asia, Europe, East, South America, United States
The news comes days after both team leaders, OpenAI co-founder Ilya Sutskever and Jan Leike, announced their departures from the Microsoft-backed startup. OpenAI's Superalignment team, announced last year, has focused on "scientific and technical breakthroughs to steer and control AI systems much smarter than us." "I joined because I thought OpenAI would be the best place in the world to do this research," Leike wrote on X. Leike wrote that he believes much more of the company's bandwidth should be focused on security, monitoring, preparedness, safety and societal impact. The update brings the GPT-4 model to everyone, including OpenAI's free users, technology chief Mira Murati said Monday in a livestreamed event.
Persons: Sam Altman, OpenAI, Ilya Sutskever, Jan Leike, OpenAI's, Leike, Altman, Sutskever, Helen Toner, Tasha McCauley, Adam D'Angelo, Ilya, Jakub Pachocki, Mira Murati, Murati Organizations: OpenAI, Hope, CNBC, Microsoft, Wired, Tuesday, Wall Street Locations: Atlanta, Leike, OpenAI
Dow crosses 40,000 for the first time
  + stars: | 2024-05-16 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
New York CNN —The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. It also highlights a notable contrast between sentiment on Wall Street and Main Street. Dow 100: The Dow first closed in triple digits in January 1906. The Dow nearly matched that in 2017, rising 25%. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.
Persons: Dow, stoking, , Gary Pzegeo, John Williams, Tom Barkin, ” Tyler Schipper, Thomas, Hogan, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Markets, Federal Reserve, Bureau of Labor Statistics, CIBC Private Wealth, , Walmart, Airlines, Big Tech, York Fed, Reuters, Richmond Fed, Dow, University of Michigan, CNN, CPI, University of St, Riley Financial, Wall, Microsoft, Chevron, Traders, New York Stock Exchange, Getty, Federal, Woolworth, Eastman Kodak Locations: New York, United States, Minnesota, Chevron —, AFP
Read previewCivil rights groups initiated a class-action lawsuit on Monday, accusing an Iowa sheriff's department and its sheriff of unlawfully collecting jail fees and using some of the proceeds to fund laser tag, ice cream, and a cotton candy machine. Laser tag, ice cream, and cotton candy machinesAccording to the lawsuit, the policy is a money maker for Black Hawk County Sheriff's Office. It said that the department collected $590,217.36 in jail fees between July 2021 to July 2023. AdvertisementSome counties don't collect jail fees at all because they see the practice as unfair, the ACLU and Public Justice said in a joint statement. In the joint statement by the ACLU and Public Justice, Roberts said she wanted to take a stand against the practice.
Persons: , Tony Thompson, Rita Bettis Austen, Sheriff Thompson, Raymond, Leticia Roberts, Roberts, Charles Moore Organizations: Service, Business, Court, Nothern District of, American Civil Liberties Union of Iowa, Public, Sheriff's, ACLU, Public Justice Locations: Iowa, Hawk, Nothern District, Nothern District of Iowa
NOVA separates foods into four groups, starting with natural and minimally processed foods in the first category to ultraprocessed foods, which use industrial formulations and manufacturing techniques, in the fourth. Here are five things to know about ultraprocessed foods:Ultraprocessed foods are linked to bad health outcomesEating a lot of ultraprocessed foods isn’t healthy. We have one.”Ultraprocessed foods cause weight gainThat one randomized, controlled clinical trial showed that ultraprocessed foods actually caused people to gain weight. So, all those factors probably play a huge role in … the foods that we choose to eat in the real world.”Not all ultraprocessed foods are badSome ultraprocessed foods can provide important nutrients, such as whole wheat bread and yogurt. “Which goes to show that not all ultraprocessed foods necessarily drive this effect.”Hall’s team is conducting a new study to tease out which ultraprocessed foods are harmful and which are neutral, or even healthy.
Persons: Marion Nestle, Meg Tirrell, Paulette Goddard, Nestle, , ” Nestle, Kevin Hall, ” Hall, Tirrell, shouldn’t, you’re, we’re Organizations: CNN, University of São Paulo, NOVA, Nestle, New York University, National Institute of Diabetes, National Institutes of Health Clinical, , National Health, US Department of Agriculture, US Food and Drug Administration Locations: Brazil, Bethesda , Maryland
She anticipates having to work part-time in retirement to supplement Social Security. And I was always counting on Social Security, knowing I can't live on it only, but I just thought it would be more than what it's going to be." Crystal has just over $70,000 in savings, according to documents verified by BI, and she anticipates getting around $1,200 a month in Social Security. AdvertisementIt means that a lot of them will primarily rely on Social Security — and the program is projected to no longer be able to pay out full benefits by 2035 unless Congress intervenes. Related storiesCrystal said that with all of her daily expenses, her finances are strained, and she doesn't think she'll ever be able to fully retire.
Persons: didn't, , Crystal —, that's, she's, She's, I've, Crystal, they're, Diane Senffner, Senffner, — Crystal, I'm Organizations: Social, Service, Business, Social Security, BI, AARP, Alliance, Lifetime, Security, Bills, Wall, Walmart
Immigrants nationwide are relying heavily on gig work driving for Uber and Lyft to make ends meet. AdvertisementThe major ride-hailing companies told BI they aim to support immigrant drivers. BI spoke with a dozen immigrant Uber and Lyft drivers who moved to South Florida from countries including Cuba, El Salvador, Haiti, and Venezuela. Dozens of ride-hail drivers from across the country who spoke to BI over the last few months said they've recently noticed more immigrant drivers on the apps. AdvertisementDespite the challenges of earning enough, some drivers are set on perfecting strategies to make driving work for them.
Persons: Uber, , Rodolfo, He's, he's, Katie Wells, Ellis, Wells, they've, she's, Edgar, didn't, hasn't, Alex, haven't, Eliezer, Carlos, Nicanor Organizations: Service, Ipsos, McKinsey, Georgetown University, International Rescue, Immigrants, Economic, The Washington Post, New York, Deliveristas Unidos, BI, Uber, Amazon, Miami, downtown Locations: South Florida, Venezuela, Washington, DC, Cuba, El Salvador, Haiti, New, Miami, Haitian, Nicaragua, Miami Beach, New York, downtown Miami
By December, he was standing with hunger strikers outside the White House, upping his criticism of the actions in Gaza. Shelley Mayer, a state senator whose district largely overlaps with the congressional district, initially backed Bowman. New York state Sen. Shelley Mayer at a state Senate Judiciary Committee hearing in April 2023, in Albany. Explaining how his response to the Israel-Hamas war fits his district, Bowman cited a poll conducted by his campaign that he claimed showed an overwhelming majority in his district support a permanent ceasefire. The Democratic Majority for Israel (DMFI) has endorsed Latimer and is expecting to spend to boost him.
Persons: Jamaal Bowman’s, Manu Raju ”, Jamaal Bowman, Israel’s, Israel, Bowman, upping, He’s, Benjamin Netanyahu, Joe Biden, Netanyahu, Shelley Mayer, George Latimer, Sen, Hans Pennink, ” Mayer, , , We’ve, ” Bowman, Rashida Tlaib, Jonathan Jackson, Cori Bush, Nathan Howard, Biden, Chuck Schumer, , New Yorker, Usamah Andrabi, Jeenah, Latimer, Jimmy Carter, Hakeem Jeffries, Kevin Riley, Riley, Israel doesn’t, ” Latimer, he’s, he’d, , ’ ” Bowman, Amy Paulin, it’s, ” Paulin, Jamaal, Mandel Ngan, Latimer hasn’t, Patrick Dorton, Jeremy Ben, Ami, Ben, ” Ben, Steny Hoyer, Hoyer, ” Hoyer Organizations: CNN, Democrat, United Nations, J, New York Democrats, Democratic, Westchester, Republican, Capitol, Fox News, , Reps, House, Iron, Democratic Socialists, America’s, Michigan Rep, Palestinian, Israel, American Israel Public Affairs Committee, New, George Latimer voters, Democrats, Washington Post, House Democratic, Conservative, Getty, Jewish Voters, Empowerment, Black, AIPAC, PAC United Democracy, Democratic Party, ” Maryland Locations: Gaza, Bronx, Westchester County, That’s, New York, Washington, Israel, Washington groaned, George Latimer . New York, Albany, Palestine, Palestinian, York, Palestinian American, , White Plains , New York, Yonkers, Rye, Brooklyn, Westchester, Scarsdale, Washington ,, AFP
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy prices likely won't go back downHistorical data suggests the key factor in bringing down prices is a slowdown in consumer spending. Despite nearly half of Americans reporting feeling in a worse financial situation than five years ago, they're still spending. Retail sales were up 2.1% year over year in the first quarter of this year and consumer spending jumped in February and March. Watch the video above to learn more about why prices will likely remain high.
Persons: they're
After visiting 25 US national parks, I've fallen in love with some lesser-known locations. I love visiting Colorado's Mesa Verde National Park, which is home to 800-year-old cliff dwellings. I've also enjoyed my time in Alaska's Denali National Park and Florida's Everglades National Park. The good news is many of these lesser-known national parks are just as spectacular as the big names. AdvertisementOf the 25 US national parks I've visited, these were some of my favorite less-popular spots.
Persons: I've, Organizations: Mesa, Service, US Department of Locations: Mesa Verde
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