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The pace of inflation likely moderated again in August — further relief for beleaguered consumers still smarting from pandemic-era price shocks. Though price growth has largely returned to the Federal Reserve's official 2% target, the sting of rapid price increases over the past four years lingers for many consumers. The latest inflation report is likely to cement a 0.25% cut in the Federal Reserve's key interest rate, currently at about 5.3%, later this month. But experts say it will take some time for consumers to feel the impact of the lower interest rate — and the relatively small size of the cut means borrowing costs will still be somewhat elevated. While the Fed is now widely expected to cut interest rates, a cut of just 0.25% may not be enough to stave off that scenario.

Persons: —, There's, Joe Biden, Kamala Harris, Zillow, Paul, ” Marina Walsh, ” Walsh, Torsten Slok, Slok, Sophia Kearney, Jerome Powell's, Kearney, Lederman Organizations: of Labor Statistics, Federal Reserve's, Democratic, Labor Statistics, Princeton, “, Mortgage Bankers Association, Apollo Global Management, FHN, NBC News, Fed Locations: U.S, New York, Los Angeles, Minneapolis, St, Las Vegas, Phoenix

☆ I've traveled to all 50 states. Here are the 7 cities I'd happily live in if my current one wasn't an option.
▼ + stars: | 2024-09-11 | by ( Emily Hart | ) www.businessinsider.com time to read: +1 min

After visiting all 50 states, there are a few cities I could see myself living in. Santa Fe, New Mexico, and New Orleans are unlike any of the places I've visited in the US. 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 . I've noticed the landscapes, culture, and food in certain cities can make me feel at home even if I've never visited before.

Persons: I've, — Organizations: Service, Business Locations: Santa Fe , New Mexico, New Orleans, Park City , Utah, Savannah , Georgia, Colorado

CNN —At least 18 people, including United Nations staff, were killed in an Israeli airstrike on a UN school-turned-shelter in the Nuseirat camp in central Gaza on Wednesday, according to the Gaza Civil Defense and hospital officials. This is the fifth time that the school compound has been targeted since October 7, according to the UN agency and a Gaza Civil Defense spokesperson. Mahmoud Basal, a Gaza Civil Defense spokesman, said search operations were ongoing amid the rubble, with children and women among the injured. In a separate attack, at least nine members of the same family were killed in an Israeli strike in Jabalya, northern Gaza, it said. Footage of the aftermath, published by Gaza’s Civil Defense, showed the dismembered limbs of children.

Persons: “, ”, Mahmoud, Philippe Lazzarini, ” Hani Haniya, Fadel Abu Hdayyeh, Khan Younis Organizations: CNN, United Nations, UN, Gaza Civil Defense, UNRWA, Israel Defense Forces, Israeli Air Force, Al, Aqsa Martyrs Hospital, Palestinian Ministry of Health, Civil Defense, Gaza’s Civil Defense Locations: Gaza, Nuseirat, Israel, Geneva, Al, Aqsa, Khan, Khuza’a, Jabalya

☆ Trump's rage was on full display during the debate. And that's great news for Kamala Harris.
▼ + stars: | 2024-09-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Read previewFormer President Donald Trump's advisors and allies scripted his playbook to attack Vice President Kamala Harris during the debate. Harris baited Trump, starting by distracting Trump from talking about his favorite issue of immigration by getting him stewing about crowd size. Harris talked about how the Wharton School of Finance, Trump's beloved alma mater, has published research questioning his economic plans. He clearly seemed annoyed at the ABC News debate moderators who repeatedly interrupted the debate to fact-check his false claims. Trump's team echoed those claims online, arguing that the former president had to take on Harris, Muir, and co-moderator Linsey Davis.

Persons: —, Donald Trump's, Kamala Harris, Trump, Harris, Mark Esper, Trump's, Dick, Liz Cheney, Donald Trump, David Muir, I've, Muir, Linsey Davis, Jason Miller Organizations: Service, Business, Wharton School of Finance, Trump, ABC Locations: Pennsylvania, Ohio, North Carolina

☆ Sean ‘Diddy’ Combs: Former member of Danity Kane accuses Combs of sexual battery in new lawsuit
▼ + stars: | 2024-09-11 | by ( Sandra Gonzalez | Elizabeth Wagmeister | ) edition.cnn.com time to read: +6 min

The filing further alleges that Richard witnessed Combs “brutally beat” his then-girlfriend Cassie Ventura, including instances where Richard claims to have seen Combs choke, strangle, slap, punch and strike Venture with objects. “On many occasions, Ms. Richard tried to intervene, offering Ms. Ventura support and encouragement to leave Mr. Combs,” the claim states. Combs was seen earlier this year in a 2016 video published by CNN grabbing, shoving, dragging and kicking Ventura. While working with Combs in this capacity, the claim alleges Richard witnessed multiple instances of Combs committing acts of physical violence against Ventura. Another lawsuit accused his son Christian Combs of sexual assault, and Sean Combs is accused of aiding and abetting.

Persons: Dawn Richard, Danity Kane, Sean “ Diddy ” Combs, ”, Richard, Combs “, Cassie Ventura, Combs, Ventura, ’ ” Erica Wolff, “, Jimmy Iovine, Iovine, ’ ” Sean, Diddy, Dawn Richard of Diddy, Gareth Cattermole, Kalenna Harper, “ Mr, ’, ” Richard, Christian Combs, Sean Combs Organizations: CNN, MTV, Venture, Ventura, Interscope Records, Interscope, Bad Boy Entertainment, Combs Enterprises, Iovine, Miami, US Justice Department Locations: New York, Ventura

☆ Billions aren’t eating enough of 7 critical nutrients, study finds
▼ + stars: | 2024-09-11 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

But more than half the global population isn’t eating enough of these and five other nutrients also crucial for human health, according to a new study. More than 5 billion people don’t consume enough iodine, vitamin E or calcium, found the study published August 29 in the journal The Lancet Global Health. Billions of people don’t consume enough of at least seven micronutrients present in hundreds of foods, according to a new study. For these reasons, the research team estimated the prevalence of inadequate intakes of 15 micronutrients among 185 countries, or 99.3% of the population. “Therefore, iodine might be the only nutrient for which inadequate intake from food is largely overestimated,” the authors said, referring to their findings.

Persons: ”, Christopher Free, haven’t, didn’t, Ty Beal, Lauren Sastre, Sastre, wasn’t, “, ” Sastre Organizations: CNN, Marine Science Institute, Bren School of Environmental Science, Management, University of California, Database, Global Alliance, Improved Nutrition, Clinic, East Carolina University, UNICEF Locations: Santa Barbara, India, Asia, Saharan Africa, Swiss, North Carolina

☆ Japanese wage growth to surpass inflation for the first time in over 30 years, says asset management firm
▼ + stars: | 2024-09-11 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Japanese wages are expected to grow in real terms in the second half of 2024 for the first time in more than three decades, according to Asset Management One. Wages in Japan are rising more rapidly than they did in 2023, the investment management firm noted in a recent report. Japanese real wages in July rose 0.4% year on year, rising for a second consecutive month after a 1.1% rise in June. Asset Management One economists anticipate regular wages likely maintained this rate of growth this summer, despite recent volatility in the yen and Japanese equities. "The past three decades in Japan have been defined by minimal price inflation and negligible wage growth," said Yuko Iizuka, economist at Asset Management One.

Persons: Yuko Iizuka, Iizuka Organizations: Management, Asset Management Locations: Japan

☆ ABC debate moderators live fact-checked Trump’s false claims from the stage
▼ + stars: | 2024-09-11 | by ( Hadas Gold | ) edition.cnn.com time to read: +5 min

During the June debate, the moderators did not correct false claims made by Trump and President Joe Biden. Ahead of Tuesday night’s debate in Philadelphia, ABC News did not commit to live fact-checking, but as the event got underway both anchors stepped in to debunk false claims made by Trump on at least three occasions. He told us there have been no credible reports of specific claims of pets being harmed, injured or abused by individuals within the immigrant community.”“Well, I’ve seen people on television,” Trump argued. “Weird how the hack moderators at @abcnews are only ‘Fact checking’ Trump and allowing Kamala to lie nonstop. The Fake News is the enemy of the people!” Trump’s son, Donald Trump Jr. wrote on X.

Persons: David Muir, Linsey Davis, Donald Trump, Jake Tapper, Dana Bash, Joe Biden, “, Harris ’, Tim Walz, ” Trump, ”, Trump, ” Muir, I’ve, ” “ I’m, there’s, Muir, Biden, Harris, CNN’s Daniel Dale, ” Dale, Candy Crowley, Mitt Romney, Barack Obama, Chris Wallace, NBC’s Kristen Welker, David Chalian, Kamala, Donald Trump Jr, ” Megyn Kelly, podcaster Organizations: New, New York CNN, ABC, CNN, Trump, ABC News, Republican, Fox News, Washington, NBC Locations: New York, Philadelphia, Ohio, Springfield, Springfield , Ohio, Harris

☆ Consumer inflation slows to lowest rate since February 2021
▼ + stars: | 2024-09-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

On a monthly basis, prices rose 0.2%, unchanged from July. Economists were expecting the annual rate would slow significantly last month to 2.6% annually, according to FactSet. Falling gas prices helped bring overall inflation lower in August, dropping by 0.6% for the month and 10.3% annually. Grocery prices held flat for the month, and overall food inflation was up 0.1% in August and 2.1% annually. On an annual basis, it’s up 5.2% and accounts for more than 70% of the annual increase in core CPI.

Persons: briskly Organizations: CNN, Federal Reserve, of Labor Statistics, BLS Locations: That’s

☆ Stock market today: Stocks fall as annual inflation slows but monthly CPI notches surprise increase
▼ + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Core inflation rose 0.3% in August, slightly above economists' expectations. Meanwhile, investors dashed their hopes for a 50 basis point rate cut from the Fed next week. AdvertisementUS stocks traded mixed on Wednesday as investors took in last month's inflation report, which showed an unexpected increase in the monthly core consumer price index. Bond yields rose as traders readjusted expectations for a jumbo rate hike of 50 basis points at next week's Federal Open Market Committee meeting. AdvertisementThe surprise increase led investors to almost completely discount the possibility of a 50 basis point rate cut at the Fed's next policy meeting.

Persons: —, Josh Jamner, Jack McIntyre Organizations: Fed, Service, Dow Jones, ClearBridge Investments, Brandywine Global Locations: Here's

☆ Markets get nervous over high core inflation and see the Fed cutting slowly
▼ + stars: | 2024-09-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Stubbornly high core inflation virtually cemented the likelihood of a quarter percentage point cut from the Federal Reserve, which historically has avoided larger moves unless absolutely necessary. Shelter inflation is putting a floor under the CPI and likely keeping the Fed from reducing interest rates by more 25 basis points. "History back to 1990 supports the idea that an initial Fed rate cut of 50 basis points signals an imminent recession (2001 and 2007). "Their first cut will almost certainly be 25 basis points," Colas said. But the Fed, which targets inflation at 2%, prefers core readings as a better longer-term gauge for inflation.

Persons: Dow Jones, —, Nick Colas, Jerome Powell, Colas, That's Organizations: Federal Reserve, Labor Department, CPI, Fed, Traders, Open Market, PCE

While the concert's dates are quickly approaching, there are still a few avenues for how to buy Life is Beautiful Block Party tickets. The 2024 Life is Beautiful Block Party is split between two stages, with no overlapping sets from musicians and lower ticket prices for Life is Beautiful. Life is Beautiful Block Party 2024 festival scheduleThe 2024 Life is Beautiful Block Party starts on September 27 at 5 p.m. CT. On the first day, seven artists will perform across two different stages. How to buy tickets for Life is Beautiful Block Party 2024You can buy original tickets to the 2024 Life is Beautiful Block Party on the festival's website. The cheapest original 2024's Life is Beautiful Block Party tickets begin at $149 for Friday-only or Saturday-only General Admission passes.

Persons: Peggy Gou, James Blake, Thundercat, we've, Jamie XX, Neil Frances, John Talabot, Toro Y Moi, Fifi Organizations: Business, Block, Downtown, Arts District, Vivid Locations: Vegas, Downtown Las Vegas, Las Vegas

☆ I moved from Dubai to the US as a British expat. It's been tough to adjust to credit scores, groceries, and guns the American way.
▼ + stars: | 2024-09-11 | by ( Claire Turrell | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on an interview with Karen Osman, a 45-year-old author based in New York City. We knew we'd have more stability if we moved to New York City. Three months later, we were living in New York City. Apartments in New York City are more expensive than in Dubai. New York City is a writer's paradise.

Persons: —, Karen Osman, it'd, we've, I've Organizations: Service, UAE, Business, Facebook, Social, New, American Museum of, Dubai Locations: New York City, Dubai, We'd, Dubai Marina, New York, UAE, London, Central, Europe

☆ Dow falls by almost 700 points after inflation report reduces chance of a jumbo-sized rate cut
▼ + stars: | 2024-09-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

But what appeared to garner a lot more attention was the 0.3% monthly rise of the core CPI gauge, which excludes food and energy. The higher-than-expected rise in core inflation will likely cause central bank officials to proceed more carefully when deciding whether to cut interest rates and by how much. On Tuesday, traders were pricing in a 34% chance the Fed would cut rates by a half point. But after the CPI data was released Wednesday morning, traders priced in a 15% chance that would happen. Wednesday’s market moves are a stark contrast to Monday’s, when the Dow, S&P 500 and Nasdaq all closed 1.2% higher.

Persons: clamoring, Dow Organizations: New, New York CNN, Federal Reserve, Nasdaq Locations: New York

☆ Amazon's new budget line of food products suggests things aren't getting better for the American shopper
▼ + stars: | 2024-09-11 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Amazon's new bargain grocery brand suggests shoppers will be pinching pennies for a while. While things aren't worsening significantly for low-income people, they aren't improving quickly. 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 . This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Walmart, Target, Business

☆ Here’s the inflation breakdown for August 2024 — in one chart
▼ + stars: | 2024-09-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"We'd expect inflation to continue to subside," though with "some ups and downs" in the data from month to month, House said. Housing inflation is falling but still highInflation for physical goods spiked as the U.S. economy reopened in 2021. Shelter is largest component of the CPI, and therefore has an outsized effect on inflation readings. Such data quirks mask positive news in the real-time rental market, which has seen minimal inflation for about two years, economists said. However, shelter CPI inflation has appeared to defy gravity lately: It increased on a monthly basis for two consecutive months, from 0.2% in June to 0.4% in July, and then to 0.5% in August.

Persons: Grace Cary, Sarah House, It's, hasn't, Paul Ashworth, Ashworth, — Organizations: Wells, Wells Fargo Economics, U.S . Department of Labor, North, Capital Economics, U.S . Federal, Finance, CPI, BLS Locations: U.S, Wells Fargo, North America

☆ This government-backed startup is growing blood to help fight shortages
▼ + stars: | 2024-09-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Last month, the American Red Cross declared an emergency blood shortage after its national supply fell by more than 25% in July. Shortages can be dire for patients since doctors have to make tough decisions about who needs blood transfusions the most. McConnell is CEO of a four-year-old startup called Safi Biotherapeutics, which is working to manufacture inexpensive red blood cells at scale. Scientists have already discovered how to grow red blood cells from stem cells, but it's a costly and complex process that typically yields small amounts at a time. Safi's goal is to build on these advancements and produce large quantities of blood that could eventually be used commercially to help care for patients and avoid blood shortages.

Persons: Doug McConnell, McConnell, Safi Organizations: Red Cross, Cross, U.S, Safi, CNBC, U.S . Department of Defense, J2 Ventures, U.S . Food, Drug Administration, FDA Locations: U.S

☆ Stock futures inch lower as investors brace for more inflation and labor data: Live updates
▼ + stars: | 2024-09-11 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on September 04, 2024 in New York City. U.S. stock futures inched lower Wednesday night as investors brace for more inflation and labor data, following a volatile session spurred by the release of the August consumer price index. S&P 500 futures and Nasdaq 100 futures dipped 0.07% and 0.13%, respectively. Stocks dropped earlier in the day when August's consumer price index showed an uptick in core inflation, which excludes volatile food and energy prices. Wall Street is anticipating the release of the August producer price index on Thursday.

Persons: Stocks, Lauren Goodwin, CNBC's, — that's, Goodwin, Dow Jones, Kroger Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Fed, New York Life Investments, Adobe Locations: New York City . U.S

☆ We're adding to a housing play before the Fed cuts rates and ignites its business
▼ + stars: | 2024-09-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Following the trade, Jim Cramer's Charitable Trust will own 100 shares of HD, increasing its weighting in the portfolio to about 1.1% from roughly 0.56%. Rates will come down and activity should pick up after the Fed gets a few rate cuts under its belt. That, at least, is what Toll Brothers CEO Doug Yearley said on "Squawk on the Street" earlier Wednesday when speaking about 30-year fixed-rate mortgage rates and the luxury homebuilder's business. If Yearley is correct, then it won't be too long until mortgage rates are at a sweet spot where housing turnover really starts to pick up. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Doug Yearley, it's, Yearley, Jim Cramer, Jim Organizations: Fed, Toll, CNBC

☆ Police rescue 402 children after sex abuse allegations at Islamic welfare homes in Malaysia
▼ + stars: | 2024-09-11 | by ( Associated Press | ) edition.cnn.com time to read: +3 min

KUALA LUMPUR, Malaysia Associated Press —Malaysian authorities on Wednesday rescued 402 children and arrested 171 suspects after raiding 20 welfare homes linked to an Islamic business group, in which children were exploited and sexually abused, the national police chief said. Police believed that Global Ikhwan exploited the children and used religious sentiments to collect donations, he said. Investigations showed that the children at the welfare homes belonged to members of the Global Ikhwan group, placed by their parents at the homes since they were infants, he said. The group recently also came under the radar of Islamic authorities amid claims that it was still involved with the deviant teachings of the Al-Arqam sect. Global Ikhwan, in a statement Wednesday, denied allegations that it exploited children and said that it would cooperate with authorities.

Persons: Police Razarudin Husain, —, Razarudin, ”, Ashaari Mohamad, Al Arqam, Ashaari Organizations: Malaysia Associated Press, Malaysian, Wednesday, Police, Global Ikhwan Services, Business Holdings, Investigations, Global Locations: KUALA LUMPUR, Malaysia, Selangor, Negeri Sembilan, London, Paris, Australia, Dubai

☆ BurgerFi files for Chapter 11 bankruptcy
▼ + stars: | 2024-09-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Fast casual chain BurgerFi filed for Chapter 11 bankruptcy Wednesday after months of reporting financial distress. BurgerFi, filing for bankruptcy protection in the U.S. District Court for the District of Delaware, said all of its corporate locations will operate normally. Franchise-owned locations are exempt from the bankruptcy filing, the company said in a press release. A common route is Chapter 11 bankruptcy, which allows the company to solve its financial problems through reorganization. According to the bankruptcy filing Wednesday, BurgerFi estimates it had between $100 million and $500 million in liabilities, but only $50 million to $100 million in assets.

Persons: Burger, BurgerFi, andexpected, “, ”, Jeremy Rosenthal, ” BurgerFi Organizations: New, New York CNN, District of, Anthony’s Locations: New York, McDonald’s, U.S, District of Delaware, Florida

☆ Here's why the stock market is throwing a tantrum about new inflation data
▼ + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Core inflation rose unexpectedly, dashing hopes for a bigger rate cut from the Fed. US indexes slumped on Wednesday, with the Dow dropping as much as 600 basis points in the early morning as traders took a mixed-bag of inflation data. That's the lowest headline inflation rate recorded since early 2021. On the other hand, cutting interest rates by just 25 basis points means higher for longer interest rates. "Today's inflation data cemented in a 25 basis point cut next week 50 basis points in out the window," she added.

Persons: —, Julian Howard, Gina Bolvin, Preston Caldwell, Chris Zacarelli Organizations: Fed, Traders, Service, Dow, of Labor Statistics, GAM Investments, Bolvin Wealth Management, Labor Department, Morningstar, Independent

☆ Gwyneth Paltrow said she had to 'Google acronyms under the table' at Goop business meetings when she started the company
▼ + stars: | 2024-09-11 | by ( Samantha Grindell | Amanda Krause | ) www.businessinsider.com time to read: +3 min

Read previewGwyneth Paltrow is thinking about what she didn't know when she founded Goop. Gwyneth Paltrow speaks at the Forbes Power Women's Summit 2024. Paltrow said she became more successful when she let go of her "shame" about what she didn't know. In her conversation with Forbes, Paltrow touched on the brand's ever-evolving strategy, saying that "intention" keeps Goop centered. "We've been through a lot," Paltrow said.

Persons: —, Gwyneth Paltrow, Forbes, Paltrow, Moira Forbes, Goop, Amanda Krause, I'm, Nobody's, We've, we've, we're Organizations: Service, Power Women's, Business, Forbes Power Women's Locations: New York

☆ How 9/11 Become Gen Z's Favorite Internet Meme, Joke
▼ + stars: | 2024-09-11 | by ( Scott Nover | ) www.businessinsider.com time to read: +13 min

On 9/11, the first meme dropped at 8:56 a.m. "That is a big fucking hole in the World Trade Center sirs!" 9/11 jokes, in other words, often have very little to do with 9/11. AdvertisementUnlike Domineau or those anonymous SomethingAwful posters, many people making and spreading 9/11 memes today are too young to remember 9/11, if they were alive at all. She says 9/11 memes have always been popular with her cohort. Domineau says it's only natural for young people to take 9/11 jokes to the next extreme.

Persons: NAEM, DogWelder, Brad Pitt's, Tyler Durden, monkeu, BUSH, Thom Yorke, THOM, Gilbert Gottfried, Jaroslav Hašek, Jan Chovanec, ike H, oke, hing, hite, ingle, alvin K, amar, laine, hatter, ike Organizations: World Trade Center, Facebook, Twitter, World Trade, United Airlines Flight, Radiohead, Empire, International, of Humor Research, ard, ust Locations: New York, Czech, pec

☆ Rage bait is all the rage on Threads — so I tried it. I'm sorry?
▼ + stars: | 2024-09-11 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +8 min

Let me ask you something: Have you noticed that engagement bait questions are taking over your Threads feed? AdvertisementOn a side note, rage bait is having a moment right now. Related storiesThis kind of rage bait is effective and largely harmless. I played around with engagement bait because I'm a tech journalist who writes about social media platforms and am curious about how Threads works. For now, I promise no more rage bait.

Persons: I've, retweets, Ellen Oscar selfie, vapid, vloggers, I'm, It's, it's, they've, Beskostõi, baiters Organizations: Service, Elon Twitter, New, Facebook, Meta Locations: Cleveland, Upstate New York, New York City, Estonia, Instagram

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