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☆ The office market is so bleak that Canada's largest pension fund sold its stake in an NYC building for $1
▼ + stars: | 2024-02-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Canada's largest pension fund sold a stake in a New York building for $1. The Canada Pension Plan Investment Board did not immediately respond to Business Insider's request for comment. The Canada Pension Plan Investment Board operates a $436.9 billion fund, with a global real estate portfolio worth roughly $30.6 billion. According to the Bloomberg report, the pension isn't backing out entirely from the office real estate sector, but it's also limiting its holdings in the space. Economists at Moody's, too, expect more pain ahead for commercial real estate.

Persons: —, it's, Goldman Sachs, Moody's Organizations: Service, Pension Plan Investment Board, Bloomberg, Pension Plan Investment, Boston Properties, Santa, Santa Monica Business Park, Bank, New York Community Bank Locations: New York, Canada, Santa Monica, Silicon, Moody's

☆ The two-letter word helping this lender buck the delinquency storm
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But that’s not an accident,” Max Levchin, Affirm’s CEO and a co-founder of PayPal, told CNN in a recent interview. Levchin credits a willingness to say a two-letter word, one that’s not exactly associated with the surging BNPL industry, N-O. It’s that we are honest when we tell them, ‘Hey, we don’t think you should borrow right now.’”Affirm started saying “no” more often in the spring of 2022. That’s when Levchin started observing signs of “financial stress” as inflation surged and gas prices approached record highs. “Say you’re asking to borrow to buy an $800 TV and we really don’t think it’s healthy for you, financially…We can say, ‘That’s too much now.

Persons: “ We’re, that’s, ” Max Levchin, Levchin, “ It’s, ’ ”, ”, “, Max Levchin, Gross, we’ll, ” Levchin, it’s, BNPL, There’s Organizations: New, New York CNN, PayPal, CNN, New York Fed, Target, Walmart, Royal, American Airlines, NY Fed, Federal Reserve, Biden, Trump Locations: New York, Helsinki, Finland, Royal Caribbean, Covid

☆ I once took a nearly 50% pay cut for a better work-life balance. It was worth it.
▼ + stars: | 2024-02-24 | by ( Melissa Drake | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWorking for a global organization is no joke — particularly as a front-line, "the buck stops here" client service manager. He was dismayed when I replied, "I'm leaving to have a better work-life balance, and that's something you can't provide. After a few months on the job, I took another pay cut to work part-time, resulting in a nearly 50% pay cut from my client service salary. It's a good thing, too, because my son was getting older, and I lost both of my parents within five years.

Persons: —, I'd, who'd Organizations: Service, Business

☆ Barry Keoghan appears naked on ‘Vanity Fair’ cover. Is it progressive, or passé?
▼ + stars: | 2024-02-23 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

CNN —There’s method dressing, and then in the case of BAFTA-winning Irish actor Barry Keoghan, there is method un-dressing. On Wednesday, the “Banshees of Inisherin” star set the internet alight when he made a divisive nude appearance in a video promoting Vanity Fair’s latest Hollywood Issue cover. It was a nod to Keoghan’s latest role (and one explosive final scene) in British director Emerald Fennell’s “Saltburn,” a salacious depiction of class, power and desire set at Oxford University in 2007. If you’re yet to watch the bloody, bathwater-soaked film, forgive us for spoiling the fact Keoghan gets naked in that too. While naked male magazine covers are rare, they’re typically infused with a certain sense of humor that protects them from public rebuttal.

Persons: Barry Keoghan, Inisherin, Bradley Cooper, Natalie Portman, Colman Domingo, Lily Gladstone, Emerald Fennell’s, Oliver Quick, Felix, Jacob Elordi, ”, ” gimmicky, ” Barry Keoghan, “, Keoghan baring, Neil Patrick Harris, centerfolds, nakedness Organizations: CNN, Oxford University, Stone Magazine, UCLA

☆ February full moon peaks this weekend
▼ + stars: | 2024-02-23 | by ( Taylor Nicioli | Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —February’s full moon, known as the snow moon, is set to peak on Saturday, shining bright around the world in the night sky. It’ll just be a little bit smaller than your average full moon that you look up at.”The full moon phase occurs when the moon, Earth and the sun are in alignment, in that order. A total solar eclipse occurs when the moon passes between Earth and the sun, completely blocking the sun’s face. A total solar eclipse won’t be visible across the contiguous United States again until August 2044. A lunar eclipse, which causes the moon to look dark or dimmed, occurs when the sun, Earth and moon align so that the moon passes into Earth’s shadow.

Persons: CNN —, “ It’s, ”, Rachel Klima, “, ” Klima, Klima, “ We’re, Buck, Lyrids, Capricornids Organizations: CNN, Farmers, Johns Hopkins University Applied Physics, American Meteor Society, Taurids Locations: United States, Laurel , Maryland, Mexico, Canada, South America, Europe, North, East Asia, Australia, Africa, North America, Earth’s, Asia

☆ Mystery of whale song unraveled by scientists, study says
▼ + stars: | 2024-02-22 | by ( Amarachi Orie | ) edition.cnn.com time to read: +6 min

How baleen whales, which include humpback whales, are able to sing underwater has eluded scientists since whale songs were first discovered more than 50 years ago. A baleen whale’s larynx is shaped differently from other mammals. This structural adaptation allows the leviathan to breathe massive amounts of air in and out when they go to the surface, according to the study. Air sacs also evolved in a way that may allow a baleen whale to recycle air while creating vocal sounds, according to researchers. This means that most boating noises mask calls between baleen whales, reducing the distance over which they can communicate.

Persons: Olga Filatova, “, ”, Coen Elemans, ” Elemans, Elemans, they’ve, Patricia Jaqueline, Karim Iliya, James Rule, Ellen Coombs, Peter Buck Organizations: CNN, University of Southern, London’s, Museum, Smithsonian National Museum of Locations: Bering, University of Southern Denmark

☆ Voices from Inside America’s Homelessness Crisis - The New York Times
▼ + stars: | 2024-02-21 | by ( ) www.nytimes.com time to read: +8 min

Homelessness is highest in cities with exorbitant rents, but small cities and rural communities are not shielded from the housing crisis. Because rural America lacks many social services, like free clinics, soup kitchens and shelters, the rural homeless often make their way to places like the Water Street Mission. We spoke with several people staying at the Water Street Mission, some of whom were there for the first time and some who had sought refuge there many times before. Levon Higgins, 50, has been staying at Water Street for the last six months : I just couldn’t afford to live where I was. Jennifer Berrie, 45, was staying in an overnight-only shelter before Water Street : I miss little things you don't even think of.

Persons: James Costello, They’re, ”, you’ve, Tamekia Gibbs, Levon Higgins, It’s, I’ve, Tamekia Gibbs Rob Travis Jackson, Evelyn, You’re, Jennifer Berrie, “, Rob Travis Jackson, that’s, they’ve, Shawna Organizations: Homelessness, Services Locations: America, Lancaster, Pa, Water

☆ The economy's gone from strength to strength after the pandemic — but no one quite knows why, or what comes next
▼ + stars: | 2024-02-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

America has gone from a pandemic crash and recession fears to stocks at record highs and an economic boom. Lockdowns, wars, shortages, inflation, interest rates, day trading, and AI have all played a role. Noam Galai/SOPA/Getty ImagesMany Americans also socked away money during the pandemic, as they saved on expenses like travel and live entertainment. Stimulus-fueled demand, combined with pandemic and war-related supply disruptions, caused inflation to spike to a 40-year high of 9.1% in June that year. The Fed swiftly raised interest rates to rein in the price growth, lifting them from virtually zero to upward of 5% in under 18 months, and hasn't touched them since.

Persons: —, We've, Noam Galai, hasn't, It's, dory Organizations: Service, Federal Reserve, GameStop, AMC Entertainment, AMC, Bank Locations: America, China, Ukraine

☆ A GOP congressman says he has 'zero concerns' about the wave of departures from the House: 'We probably need a few more retirements'
▼ + stars: | 2024-02-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

"I think the retirements are a wonderful thing," Good recently told CNN. I blame a lot of the 'crazy eights' led by Gaetz," McCarthy told CNN. However, Good dismissed concerns about congressional turnover, even as Republicans control the House, albeit narrowly. Why don't you survey the country and see if there is any brain to drain in Congress," he told CNN. As of Tuesday, 21 GOP lawmakers have chosen not to run for reelection this year or are running for another public office.

Persons: —, Bob Good, Kevin McCarthy of, McCarthy, Matt Gaetz, Gaetz, Good, Mike Gallagher of, Mark Green of, Alejandro Mayorkas —, — Green, Gallagher, Tom McClintock of, Ken Buck, Ken Buck of Colorado, Mayorkas, Debbie Lesko of, wouldn't, gridlock, we're Organizations: Service, GOP Rep, Caucus, Business, CNN, Chinese Communist Party, Homeland Security, Homeland, GOP Locations: Virginia, Kevin McCarthy of California, Florida, Congress, Mike Gallagher of Wisconsin, Mark Green of Tennessee, Tom McClintock of California, Ken Buck of, Debbie Lesko of Arizona

☆ We're DINKs who make $190k a year and work from home. Here's what our typical Costco haul looks like.
▼ + stars: | 2024-02-20 | by ( Jacqueline Gualtieri | ) www.businessinsider.com time to read: +9 min

Here's what my partner and I usually get for $350 in our high-cost-of-living California city. AdvertisementWe usually pick up variety packs of Poppi, which contain prebiotics for gut health and have fewer calories and added sugars than most sodas. There are few places to grab bagels around my home now, so the bagels at Costco are a decent replacement. Instead of using cream cheese, I put Laughing Cow spreadable cheese on my bagel, preferably the light option if Costco has it. It's a good substitute for unhealthier snacks, and a pack of 60 only costs us about $10 at Costco.

Persons: —, we're DINKs, Jacqueline Gualtieri, we're, Ade kombucha, Costco's, Caesar, Costco Jacqueline Gualtieri, Gualtieri, We've, Kirkland Organizations: Service, Area, Business, Costco, Del Real Foods, Kirkland Locations: Central Coast, Monterey, California, Del Real, Italian

☆ CEO says Palo Alto Networks didn't lower its guidance due to lack of demand: 'There is no cybersecurity abyss'
▼ + stars: | 2024-02-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Palo Alto Networks CEO Nikesh Arora told CNBC's Jim Cramer the company didn't lower revenue guidance because it expects a lack of demand for cybersecurity products. Palo Alto reported earnings Tuesday after close, and although it managed to beat Wall Street analyst expectations, it cut its full-year guidance for revenue and billings. However, he admitted that customers are experiencing "fatigue" when it comes to cybersecurity processes: dealing with and integrating multiple cybersecurity vendors, slower legacy infrastructure. He added that he feels Palo Alto is more prepared than its competitors to meet these demands. "Let's go back to the basics, our business is strong, demand is strong."

Persons: Nikesh Arora, CNBC's Jim Cramer, Arora, Palo, I'm, Let's Organizations: Palo Alto, Wall Locations: Palo Alto, billings

CNN —House Republicans were shocked by some of the recent high-profile retirements announced by their colleagues, which have included powerful committee chairs and rising stars inside the GOP. And on the Energy and Commerce Committee alone – a highly sought-after assignment – there are eight Republicans who are retiring. “So, yeah, I’m very worried about it.”Others, however, said the turnover is completely normal, especially since the House GOP has self-imposed term limits for chairs, which they argued allows them to inject new blood into the ranks. We probably need a few more retirements.”McCarthy – who resigned at the end of last year – suggested that was perhaps the goal of hard-liners like Good and GOP Rep. Matt Gaetz of Florida who voted to oust him. It’s just a number of things piling up,” said House Science Committee Chair Frank Lucas, reflecting on the retirements.

Persons: “ They’ve, we’re, ”, Ken Buck, Don Bacon of Nebraska, ” Bacon, Carlos Gimenez, Kevin McCarthy, “, it’s, –, Cathy McMorris Rodgers, Mike Gallagher of, Alejandro Mayorkas, Greg Pence, Pfluger, Tom Cole, I’ve, I’m, Bob Good, ” Good, ” McCarthy –, Matt Gaetz, Gaetz, ” McCarthy, Frank Lucas, Mark Green of, Debbie Lesko of, McCarthy, ” Lesko, can’t, Brian Fitzpatrick, Steve Womack, Donald, Trump, Kelly Armstrong of, ’, Erin Houchin, Patrick McHenry of, Chuck Fleischmann of Tennessee Organizations: CNN — House Republicans, CNN, GOP, Energy, impeaching Homeland, Commerce, Indiana, Republicans, Congress, Capitol, ”, House Homeland Security Committee, Representatives, Financial Locations: Ken Buck of Colorado, Carlos Gimenez of Florida, Washington, China, Mike Gallagher of Wisconsin, Texas, Congress, Florida, Mark Green of Tennessee, Debbie Lesko of Arizona, Pennsylvania, Arkansas, New York, Kelly Armstrong of North Dakota, Erin Houchin of Indiana, Patrick McHenry of North Carolina

☆ I make my credit card points go further with one extra step that makes a huge difference
▼ + stars: | 2024-02-19 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +3 min

I maximize my Chase credit card points by transferring them to my airline accounts. AdvertisementWhen redeeming my Chase Sapphire Preferred credit card points for flights and hotel stays, I used to book everything through the Chase Travel Portal. With the Chase Sapphire Preferred card, each point is worth a fixed 1.25 cents on travel booked through the Chase Travel Portal, meaning 100 points equals $1.25. In the Chase Travel Portal, the Southwest flight I wanted would have cost all 21,887 points I have saved up, plus an additional $16 to cover the remaining difference. A flight from New York City to St. Louis in the Chase Travel Portal.

Persons: —, Nikki, Chase, Louis, Talia Lakritz, I'm, I'd Organizations: Service, Sapphire, Chase, IHG, Airlines Locations: St, New York City, Southwest

☆ A US productivity boom may explain how inflation slowed amid a strong economy
▼ + stars: | 2024-02-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

If productivity is strong, that means the US economy is doing more with less, or being more productive. Productivity is measured by dividing all the goods and services produced in the economy by every hour people worked. “But the economy did well, so that translated into higher productivity, supporting higher wage growth and fending off inflation from accelerating.”Last year’s productivity boom could also be a combination of all of the above. Still, it may be too soon to know if last year’s productivity burst was truly a transformative shift in the US economy. “Sometimes at the very end of an economic cycle, productivity can be boosted by cost-saving measures,” Goodwin of New York Life Investments said.

Persons: ” Lauren Goodwin, Mark Zandi, John Min, Austan Goolsbee, It’s, ” Min, ” Goodwin, ” Organizations: DC CNN, Labor Department, New York Life Investments, CNN, Microsoft, Meta, Citigroup, Monex, Federal Reserve, Chicago Fed, Bloomberg Locations: Washington

☆ Cocoa prices just hit a record high. Here's what's driving the gains and what it means for chocolate makers
▼ + stars: | 2024-02-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +7 min

If you think chocolate prices this Valentine's Day were more expensive than usual, it's not you. Year to date, futures contracts are up nearly 27%, with cocoa prices rising in six of the past seven weeks. Here's a breakdown of what's driving cocoa prices higher and how it impacts the investment case around two major chocolate stocks. Doshi thinks cocoa prices could sell off about 20%, taking them to around $4,500 to $4,800 per ton. In an interview with CNBC last week, he underscored the rising cocoa price outlook as the key driver for his lower rating.

Persons: Humza Hussain, El, Aakash Doshi, Doshi, Bernstein, Bruno Monteyne, … There's, Mondelez, Alexia Howard, Hershey, Michele Buck, Bernstein's Howard, Howard, I'd, Bryan Spillane, Morgan Stanley, Pamela Kaufman, Bank of America's Spillane Organizations: Asset Management, CNBC, Hershey, Citi, 2H, Street, Bank of America, Bank of, Cadbury Locations: Mondelez, El Niño, Ghana, Ivory, Nigeria, Europe

☆ A stunning indictment could doom Republican's effort to impeach Biden
▼ + stars: | 2024-02-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Special counsel David Weiss blew through one of the key pieces of evidence House Republicans have held against Biden. AdvertisementA stunning indictment has undermined one of the key pieces of evidence some GOP lawmakers have cited in their impeachment push against President Joe Biden. Top House Republicans have cited the previously unknown informant's allegations for months as evidence for their views about the "Biden crime family." Some Republicans were already warning that their Biden impeachment push was going nowhere even before the latest setbacks. The outlet reported that roughly 20 Republicans were not convinced there was sufficient evidence to impeach Biden.

Persons: David Weiss, Weiss, Biden, Trump, —, Joe Biden, Hunter Biden, Obama, Alexander Smirnov, James Comer, Comer, Sen, Chuck Grassley, Hunter, Donald Trump's, Smirnov, George Santos, Mike Johnson, Alejandro Mayorkas, Mayorkas, Tom Suozzi, Santos, Ken Buck, Buck, Donald Trump, impeaching Biden, weaponizing Organizations: Republicans, Biden, FBI, Service, Prosecutors, Top, Iowa Republican, CNN, GOP, Homeland, Democratic, Colorado Republican, DOJ, DAs Locations: Ukrainian, Iowa, York, Colorado, South Carolina

☆ Mayorkas defends his record on the southern border and slams House Republicans after historic impeachment
▼ + stars: | 2024-02-16 | by ( Donald Judd | ) edition.cnn.com time to read: +5 min

CNN —Homeland Security Secretary Alejandro Mayorkas on Friday defended his record on the border, saying his impeachment by House Republicans has no basis in fact or law and he has no plans to slow down his work. Of course,” Mayorkas told Amanpour. As a member of the administration’s delegation to the conference, Mayorkas rebuffed the idea that Tuesday’s impeachment had compromised his standing with world leaders. Three Republicans – Ken Buck of Colorado, Mike Gallagher of Wisconsin, and Tom McClintock of California – voted with Democrats against the measure. “I’ve interacted with the president countless times,” Mayorkas told Amanpour.

Persons: Alejandro Mayorkas, CNN’s Christiane Amanpour, Mayorkas, “, ” Mayorkas, Amanpour, I’m, Alexey Navalny, Joe, Robert Hur’s, ”, –, Republicans – Ken Buck, Republicans – Ken Buck of Colorado, Mike Gallagher of, Tom McClintock, California –, Navalny’s, Vladimir Putin, Hur, Biden, “ I’ve Organizations: CNN, Homeland, House Republicans, Munich Security Conference, ” CNN, Republicans, United, Justice Locations: United States, Republicans – Ken Buck of, Mike Gallagher of Wisconsin, California, Ukraine

☆ 'There's very little margin for error': 7 strategists explain why the Goldilocks narrative is in trouble — but these 8 investments are still worth making now
▼ + stars: | 2024-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Investors are pricing in a best-case outcome where earnings rise and inflation returns to normal in a continued economic expansion. “It’s a tough needle to thread,” said Steve Sosnick, the chief strategist at Interactive Brokers. “And that pretty much pulls forward almost all the returns, in our minds, for 2024.”AdvertisementCrit Thomas, a global market strategist at Touchstone Investments, has the same concern. “And so at 21x earnings, there’s very little margin for error here.”AdvertisementFourth-quarter earnings mostly met measured expectations , as did forward guidance. Clark Bellin, the chief investment officer at Bellwether Wealth, said he’s less worried about valuations broadly and is more interested in seeing which sectors look cheap.

Persons: —, ”, Solita Marcelli, “, Sameer Samana, Steve Sosnick, It’s, Steven Wieting, “ We’ve, Crit Thomas, “ I’m, ” Thomas, We’re, Chris Galipeau, ” Galipeau, ” Sosnick, we’ve, Liz Ann Sonders, Schwab, ” Sonders, there’s, Clark Bellin, he’s, ” Bellin, you’re, Stocks, Samana, won’t, Thomas, Wieting, Bellin, “ They’ve, they’re Organizations: Service, Business, UBS Global Wealth Management, Federal Reserve, Wells, Wells Fargo Investment Institute, Interactive, Citi Global Wealth’s, Touchstone Investments, Franklin Templeton Institute, Citi Global Wealth, Bellwether Wealth Locations: Wells Fargo, Samana, ” Samana, Galipeau

On the day they held their first official workout, the Baltimore Orioles announced pitcher Kyle Bradish will open the season on the injured list with a sprained ulnar collateral ligament. Orioles general manager Mike Elias said Bradish received a platelet-rich plasma injection to treat the injury. “He’s going to start his throwing progression tomorrow, but that progression is going to be something that takes some time. Bradish’s injury is particularly notable because the Orioles already are unsure about left-hander John Means’ status for the start of the season. MANUEL RETURNSFormer Philadelphia Phillies manager Charlie Manuel made his first visit to the ballpark since he suffered a stroke in September.

Persons: Kyle Bradish, Mike Elias, Bradish, “, ” Elias, “ He’s, I’m, ” Bradish, Justin Verlander, Cy Young, ’ ’ Verlander, John Means, Corbin Burnes, Gunnar Henderson, Elias, MANUEL, Charlie Manuel, Manuel, Francisco Lindor, Buck Showalter, Billy Eppler, Nobody, ”, Dan Gelston, Marc Berman, Chris Nelsen, ___ Organizations: Baltimore Orioles, Orioles, AL East, Houston Astros, Cy, Milwaukee Brewers, “, Former Philadelphia Phillies, Phillies, NL East, Tampa Bay Rays, Philadelphia, New York Yankees, Fame, Minnesota Twins, Los Angeles Dodgers, New York Mets, Mets, Diamondbacks, Rangers Locations: Cleveland, Clearwater , Florida

☆ Even some Republicans are nervous about how Mayorkas' impeachment could backfire
▼ + stars: | 2024-02-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Read previewHomeland Security Secretary Alejandro Mayorkas is only the second Cabinet secretary to be impeached in American history. The three Republicans who voted to oppose Mayorkas' impeachment have each warned about establishing a new precedent for the action some lawmakers place only below authorizing a war. Still, the vote to impeach Trump for inciting the Capitol riot was the most bipartisan presidential impeachment vote in history. As The New York Times pointed out during Trump's first impeachment, one out of every four presidents have had articles of impeachment written up against them. Gallagher announced his decision just days after bucking his party on the first vote to impeach Mayorkas.

Persons: —, Alejandro Mayorkas, Biden, Mike Gallagher of, Mayorkas, hasn't, Tom McClintock of, Donald Trump, Mike Johnson, Johnson, Nancy Pelosi, Donald Trump's, Gallagher, Trump, Trump's, there's, George W, Dennis J, Kucinich, Bush, Marjorie Taylor Greene, Machiavelli, Bryan Metzger, Adam Schiff, Jonathan Turley, Ken Buck, Ken Buck of Colorado Organizations: Service, Business, Republican, Homeland, House Homeland Security, Trump, Capitol, New York Times, Ohio Democrat, Republicans, Georgia Republican, California Democrat, George Washington University Law, Daily Locations: Mike Gallagher of Wisconsin, Tom McClintock of California, Ohio, Georgia, California, Ken Buck of

☆ House Republicans have impeached the first Cabinet secretary in almost 150 years
▼ + stars: | 2024-02-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

House Republicans rammed through the impeachment of Homeland Security Secretary Alejandro Mayorkas. AdvertisementHouse Republicans on Tuesday rammed through the impeachment of Homeland Security Secretary Alejandro Mayorkas, marking a historic moment exactly a week after an embarrassing failure. Three Republicans, Rep. Ken Buck of Colorado, Tom McClintock of California, and Mike Gallagher of Wisconsin, joined House Democrats in voting against the measure. The last time Congress impeached a Cabinet secretary was in 1876 when lawmakers impeached former Secretary of War William W. Belknap. Biden has emphasized how the White House tried to strike a bipartisan border-Ukraine deal only for former President Donald Trump and House Republicans to nuke the agreement shortly after its public announcement.

Persons: Alejandro Mayorkas, —, Steve Scalise's, Mayorkas, Ken Buck, Ken Buck of Colorado, Tom McClintock of, Mike Gallagher of, Blake Moore, Joe Biden, Biden, George Santos, William W, Belknap . Belknap, aren't, Donald Trump, Marjorie Taylor Greene, Kevin McCarthy's, Greene, Sen, Lindsey Graham, Adam Schiff, Bill Clinton Organizations: Republicans, Homeland, Service, Tuesday, GOP, Rep, House Democrats, Utah Republican, White House, Homeland Security, Mayorkas, U.S, House Republicans, The Georgia Republican, California Democrat Locations: Washington, Ken Buck of, Tom McClintock of California, Mike Gallagher of Wisconsin, Utah, Belknap, U.S . Southern, Ukraine, California, Trump

☆ The rich want to give their kids real estate and businesses to save on taxes but still control the family fortune. One neat trick: family-limited partnerships.
▼ + stars: | 2024-02-14 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

And yet, Walton's wife and children didn't have to pay a dime in estate tax. With an FLP, an individual — often a parent or two parents — pools their business assets, which are commonly real estate or stock. There are pragmatic reasons for keeping family business assets consolidated, according to Dan Griffith of Huntington Private Bank. Another sweetener: you can claim a discount on the assets within the FLP and use even less of your estate tax exemption. This would eliminate all gift and estate tax on the business even if the couple dies after the Trump tax cuts sunset.

Persons: —, Sam Walton, didn't, Donald Trump, Dan Griffith, –, Griffith, Robert Strauss, Weinstock Manion, Strauss, Edward Renn, Renn, Trump, that's, Katie Carlson Organizations: Service, Walmart, Business, Huntington Private Bank, IRS, Partners, Bank of, Trump

☆ Home Prices May Be Sky-High, but America Is Not in a Housing Bubble
▼ + stars: | 2024-02-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

The housing market, they claimed, was a bubble destined to burst. I’ve spent the past few years asking experts a simple question: Has the housing market reached bubble territory? AdvertisementFor a time, it seemed like the housing market was doing a speedrun through Simonsen’s checklist. And even if the economy does take a turn, a run-of-the-mill recession probably wouldn’t be enough to topple the housing market. The housing market is far from balanced, but we’re at least heading in that direction.

Persons: doomsayers, I’ve, Redfin, you’ve, you’ll, Mike Simonsen, megalandlords, ”, Ian Shepherdson, Goldman Sachs, Jerome Powell, Powell, Rick Palacios Jr, John Burns, ” doomsayers, might’ve, It’s, it’s, Logan Mohtashami, don’t, US homebuilders, “ It’s, ” Mohtashami, Selma Hepp, Fannie Mae, Palacios, ” Palacios, Mohtashami Organizations: Altos Research, Wall, John, John Burns Research, Consulting, Mortgage Bankers Association, Federal Reserve Bank of New, Federal Housing Finance Agency Locations: Charlotte, North Carolina, Austin, Las Vegas, Miami, Boise , Idaho, Dallas, Federal Reserve Bank of New York, US

☆ House impeaches Alejandro Mayorkas, first Cabinet secretary to be impeached in almost 150 years
▼ + stars: | 2024-02-13 | by ( Annie Grayer | Clare Foran | ) edition.cnn.com time to read: +7 min

The House of Representatives, by an extremely narrow margin, voted Tuesday to impeach Homeland Security Secretary Alejandro Mayorkas, the first Cabinet secretary to be impeached in almost 150 years. The Department of Homeland Security said that House Republicans “will be remembered by history for trampling on the Constitution” following the vote to impeach. “Secretary Mayorkas and the Department of Homeland Security will continue working every day to keep Americans safe,” the statement said. Ken Buck, Tom McClintock, and Mike Gallagher are three House Republicans who voted against impeaching Mayorkas. Mayorkas has sent a letter to House Republicans to defend his record in public service in advance of the vote.

Persons: Alejandro Mayorkas, Mayorkas, Joe Biden, William Belknap, Republicans – Ken Buck, Republicans – Ken Buck of Colorado, Mike Gallagher of, Tom McClintock, California –, Republicans “, Mia Ehrenberg, Steve Scalise, Texas Democrat Al Green, Ken Buck, Mike Gallagher, impeaching Mayorkas, “, Troy Nehls, we’re, ”, Lance Gooden, Patrick McHenry of, Kevin McCarthy, Mike Johnson, “ He’s, Ian Sams, Chuck Schumer’s, Pro Tempore Patty Murray, ” Schumer, Johnson, Donald Trump, ” Mayorkas, CNN’s Morgan Rimmer, Manu Raju Organizations: Homeland, Republicans, Biden, Department of Homeland Security, “, Texas Democrat, AP, Getty, GOP, CNN, Texas, Democratic, Pro Tempore, House Republicans, ”, Communist, Democrats, Homeland Security, Republican, Border Patrol Locations: Republicans – Ken Buck of, Mike Gallagher of Wisconsin, California, Israel, Texas, “, Patrick McHenry of North Carolina, Cuba

☆ The Fed can still break markets. Here’s how
▼ + stars: | 2024-02-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those gains came even as Federal Reserve officials attempted to reduce investors’ lofty expectations for a plethora of interest rate cuts this year. It is now signaling that interest rates could come this year but not until spring or summer. That means they think the Fed is keeping interest rates too high and could potentially slow down economic growth too much and risk a recession. That makes the NFL and the Super Bowl all the more valuable to advertisers trying to reach a mass market. Li-Lac Chocolates, which calls itself the oldest chocolate shop in Manhattan, told CNN that their raw chocolate prices are up 13% this February compared to a year ago.

Persons: Torsten Slok, Jerome Powell, Raphael Bostic, Olivier Darcy, Sunday’s, CNN’s John Towfighi, ”, Michele Buck Organizations: CNN Business, Bell, New York CNN, Big Tech, Federal Reserve, Investors, Nasdaq, Federal, Apollo Global Management, National Association for Business, Atlanta Fed, CNN, Kansas City Chiefs, San Francisco 49ers, CBS, Chiefs, Philadelphia Eagles, NFL, Allegiant, NFC, Fox, AFC, Super Bowl, Companies, Hershey Co Locations: New York, There’s, Las Vegas, West Africa, North America, Manhattan

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