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☆ U.S. economic comeback has been one of the most remarkable in modern history, says NUL's Marc Morial
▼ + stars: | 2024-10-04 | 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 EmailU.S. economic comeback has been one of the most remarkable in modern history, says NUL's Marc MorialMarc Morial, National Urban League president and CEO, joins 'Money Movers' to discuss the Federal Reserve's decision to cut interest rates by 50 basis points, what you can attribute the economy's strength to, and much more.

Persons: NUL's Marc Morial Marc Morial Organizations: National Urban League

The widespread use of toothpaste and mouthwashes with added fluoride in recent decades appears to have diminished the known public health benefits of water fluoridation, a new study suggests. Hundreds of U.S. communities, from Amery, Wisconsin, to Union County, North Carolina, are opting out of water fluoridation. Still, she noted, “contemporary studies are showing that water fluoridation is beneficial.”Before fluoride toothpastes were widely available to consumers, adding the mineral to water provided a clear benefit to teeth. Fast-forward to 2024: About 75% of the U.S. population has tap water with added fluoride at recommended levels of 0.7 milligrams per liter of water. “Water fluoridation is still effective at reducing cavities,” he said.

Persons: “, ”, Anne, Marie Glenny, That’s, ” Glenny, Johnny Johnson, Janet Clarkson, Clark Organizations: University of Manchester, U.S . Environmental, Agency, Cochrane, American Dental Association, American Academy of Pediatrics, Centers for Disease Control, Society, University of Dundee Locations: United Kingdom, U.S, Amery , Wisconsin, Union County , North Carolina, California, Australia, Grand Rapids , Michigan, Scotland

☆ Dozens of zoo tigers die after contracting bird flu in southern Vietnam
▼ + stars: | 2024-10-04 | by ( Story Associated Press | ) edition.cnn.com time to read: +2 min

Hanoi, Vietnam AP —More than a dozen tigers were incinerated after the animals contracted bird flu at a zoo in southern Vietnam, officials said. The panther and 20 tigers, including several cubs, weighed between 10 and 120 kilograms (20 and 265 pounds) when they died. Samples taken from the tigers tested positive for H5N1, the virus that causes bird flu. The 30 staff members who were taking care of the tigers tested negative for bird flu and were in normal health condition, VNExpress reported. Bird flu has caused hundreds of deaths around the world, the vast majority of them involving direct contact between people and infected birds.

Persons: VNExpress, ”, Nguyen Ba Phuc, Jason Baker, ” Baker Organizations: Vietnam AP, Health, ” PETA, Associated Press Locations: Hanoi, Vietnam, Vuon, Bien Hoa, Long An, United States, California

☆ Wider Middle East conflict threatens the global economy — when the US and China already face headwinds, experts say
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

The widening conflict in the Middle East threatens to crimp growth and stoke inflation, experts say. AdvertisementExperts say the escalating war in the Middle East could choke global economic growth and reignite inflation, just as the US is dealing with the aftermath of Hurricane Helene, and China is trying to stabilize its beleaguered economy. "War in the Middle East could exacerbate the instabilities in the global economy, further increase the uncertainties, harm disinflationary efforts, and eventually reduce the global GDP growth," he told Business Insider. AdvertisementKaya warned the conflict could accelerate inflation by disrupting international supply chains and causing the cost of energy and shipping to rise. But he emphasized that hurricanes have historically had limited and short-lived impacts on growth and inflation.

Persons: Helene, —, Hurricane Helene, Ahmet Kaya, Kaya, Brent, Assaf Razin, Eitan Berglas, Oliver Allen, Allen, that's, Duncan Wrigley, China's, Wrigley Organizations: stoke, Service, UK's National Institute of Economic, Social Research, Eitan, of Economics, Tel Aviv University, Pantheon Macroeconomics, Oxford Locations: Hurricane, China, Israel, Iran, Oxford, China China, Beijing

☆ PRO: Watch CNBC's full interview with the "Talk of the Tape" panel
▼ + stars: | 2024-10-04 | 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 EmailPRO: Watch CNBC's full interview with the "Talk of the Tape" panelJill Carey Hall, Bank of America global research, and Courtney Garcia, Payne Capital Management, and Jeremy Siegel, Wharton School professor of finance, join 'Closing Bell' to discuss the latest news affecting markets.

Persons: Jill Carey, Courtney Garcia, Jeremy Siegel Organizations: Jill Carey Hall , Bank of America, Payne Capital Management, Wharton School

☆ Microsoft will be an early driver of AI agents, says Melius' Ben Reitzes
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft will be an early driver of AI agents, says Melius' Ben ReitzesBen Reitzes, Melius Research head of technology research, joins 'Closing Bell: Overtime' to discuss tech, the next wave of AI and his outlook on the semiconductor sector.

Persons: Melius, Ben Reitzes Ben Reitzes Organizations: Microsoft

Minneapolis CNN —One state audit found that bonus checks intended for frontline workers during the pandemic were handed out to undeserving recipients. Another criticized a Minnesota state agency for failing to ensure there were no conflicts of interest in taxpayer-funded mental health and addiction programs. His fans were easy to find last month at the Minnesota State Fair, which drew nearly 2 million people this year. Republican state Sen. Mark Koran, second from right, speaks with constituents at the Minnesota State Fair. “We are troubled by MDE’s decision,” the auditor’s report said, using the acronym for the Minnesota Department of Education.

Persons: Tim Walz, Judy Randall, –, Walz, Randall, “, ”, Lisa Demuth, Elizabeth Flores, Sen, Mark, Governor Walz, Rick Hansen, Erik Biever, ” “ Tim Walz, Stephen Maturen, Willie Jett, Jett –, ” Walz, “ There’s, Mark Koran, CNN “ They’ve, they’ve, Dan Myers, ’, Blois Olson, he’s, “ They’re, ” Olson, Olson, Aimee Bock, Bock, Bock –, MDE, ” Andrew Luger, Glen Stubbe, Andrew Luger, ” Luger, Walz’s, Heather Mueller –, Jett, Ann, Keith Ellison, Scott Jensen, ” Jensen, “ Who’s, ” Miriam Ackerman, ” Randall, Democrat Mark Dayton –, Lisa Demuth CNN Walz, haven’t, Bill Walsh, Randall “, … you’re Organizations: Minneapolis CNN, Democratic Gov, CNN, of Public, Democratic, GOP, Twin Cities, Star Tribune, Getty, Republican, ”, Randall’s Office, Legislative, Minnesota State Fair, Gov, Minnesota Department of Education, Minnesota Star Tribune, Congressional Republicans, Democrats, Minnesota, Fair, University of Minnesota, Republicans, White, Democrat, FBI, Feds, Minneapolis TV, –, Department of Human Services, DHS, of, American Locations: Minneapolis, Minnesota, unaccountability, East

☆ Why revived horrors of January 6 may not impact the election
▼ + stars: | 2024-10-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But most of all, it’s a testimony to the often-malevolent magnetism that has made Trump a historic and enduring political figure. The special counsel alleged that Trump told family members, “It doesn’t matter if you won or lost the election. As well as the federal election case, the ex-president is facing a similar one in Georgia based on racketeering statutes. The former president refused to accept the result of the 2020 election that he lost. Biden made Trump’s threat to democracy the centerpiece of his now-shelved run for president, warning that his predecessor represents an unprecedented threat to America’s soul.

Persons: Donald Trump’s, Jack Smith, Liz Cheney, Kamala Harris, Harris, Cheney, Trump, it’s, ” Cheney, Donald Trump, Dick Cheney —, —, ”, Alyssa Farah Griffin, Cassidy Hutchinson, Sarah Matthews, “, Smith, Joe Biden’s, Biden, ” Trump, He’s, Brian Kemp, vilifying Kemp, General Merrick Garland, Harris ’ Organizations: CNN, Democratic, Trump, Capitol, Democrat, GOP, Trump White, Washington, Republican, Republicans, Georgia Gov, Biden’s, —, Supreme Locations: Wisconsin, Ripon , Wisconsin, Iraq, Wyoming, In Wisconsin, Montgomery County , Pennsylvania, United States, Georgia, New York, Manhattan, Florida, Washington

☆ Google Search's new AI makeover is the latest change the rest of the internet needs to navigate
▼ + stars: | 2024-10-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, Google Search is going to look a whole lot different thanks to generative AI . According to Rhiannon Bell, the vice president of user experience for Google Search, it's a "pretty dramatic shift from where we were before." AdvertisementAnd yes, in case you were wondering if it was coming, Google is going to start putting ads in its AI Search results — but only when Google deems them relevant. Google's new AI-organized search results GoogleSearch's revamp addresses a big concern for the rest of the internet. One survey conducted earlier this year found 60% of people who used Google's AI search found it more effective than non-AI powered Search.

Persons: —, Morgan Stanley, Tyler Le, Hugh Langley, Tech's, Hugh, Rhiannon Bell, Gen, Jenny Chang, Rodriguez, Ned Davis, Kalshi, Andy Jassy F, Carter Smith, Chelsea Jia Feng, Andy Jassy, Marc Andreessen, he's, Alyssa Powell, dockworkers, hasn't, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Costco, Tech, Google, Getty, Ned, Ned Davis Research, CFTC, Bloomberg, Getty Images, Amazon, LinkedIn, YouTube, EU . US Department of Labor Locations: China, San Francisco, EU, New York, London

☆ Dolphins ‘smile’ at each other when they play and to avoid misunderstanding, study finds
▼ + stars: | 2024-10-04 | by ( Issy Ronald | ) edition.cnn.com time to read: +4 min

CNN —For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other. The study, which was published Wednesday in the journal iScience, found that dolphins make an open-mouthed expression, comparable to a “smile,” during their play. iScience Maglieri et alMuch loved – and anthropomorphized – by humans, dolphins are known for their playfulness, rich social lives, and complex communication with one another. “When dolphins play together, a mix of whistling and visual cues helps them cooperate and achieve goals, a strategy particularly useful during social play when they’re less on guard for predators,” he added.

Persons: “, ”, Heather Hill, wasn’t, extrapolating, I’m, iScience Maglieri, –, Livio Favaro, Hill Organizations: CNN, St, Mary’s University, Dolphins, “ Dolphins, University of Turin Locations: Italy, France, Rome, Planète Sauvage, San Antonio , Texas

☆ Economy's still very solid if you look at a broad range of indicators, says Goldman's Jan Hatzius
▼ + stars: | 2024-10-04 | 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 EmailEconomy's still very solid if you look at a broad range of indicators, says Goldman's Jan HatziusJan Hatzius, Goldman Sachs chief economist, joins 'Squawk on the Street' to discuss Hatzius' thoughts on Friday's jobs report, the economic revisions, and if extreme weather will impact future economic data.

Persons: Goldman's Jan Hatzius Jan Hatzius, Goldman Sachs

My husband and I have seen our price of living go up a lot lately, but our credit cards have helped. Credit cards can have a bad reputation, but by using them responsibly, we've benefited. As a result, we have come to rely on our rewards credit cards more than ever. My business credit card helps me keep my spending separateMy husband and I have — for the most part — always kept our spending separate. Note that credit card lenders may use many different variations of credit score models when considering your application.

Persons: we've, —, There's, I'm, I've, It's, Chris Organizations: Service, Chase, Chase Travel, Sapphire, Apple Locations: Denver

The Coop Sleep Goods sale, which features 20% off orders of $125 or more, might be able to help you out. It's easy enough to unlock the Coop Sleep Goods discount. Coop Sleep Goods routinely makes it onto some of our best-of lists. In fact, Coop's bestselling Original Adjustable Pillow was named best overall in our heavily tested guide of the best pillows of 2024. The best Coop Sleep Goods items on saleAt 20%, the Original Pillow will cost $60.

Persons: We've, Coop Organizations: Business, Sleep

And they’ve kept up a drumbeat of dubious claims about voting, along with the lie that the election was stolen in 2020. Prosecutors allege that the Trump campaign used similarly aggressive tactics in Philadelphia to force confrontation with election officials, which Trump and his allies used to claim his supporters were denied access to observe the count. Election officials have been operating in an increasingly hostile environment as GOP skepticism of election administration has climbed. Among them: shifting numbers of noncitizens Trump allies claimed had voted in the 2020 election. In Georgia, state courts are reviewing new rules from the State Election Board that Democrats say give county election officials broad authority to delay certification of the results in search of purported election irregularities.

Persons: Donald Trump, They’ve, they’ve, ”, Sean Morales, Doyle, Brennan, ’ playbook, Jack Smith’s, Trump, Hannah Fried, Smith, Rebecca Cook, Brooks, Republican Al Schmidt, Schmidt, “, You’ve, Michael Whatley, Whatley, Zach Manifold, Joshua Lott, noncitizens Trump, hasn’t, Cleta Mitchell, –, “ I’ve, ” Lisa Posthumus Lyons, ” Posthumus Lyons, Jocelyn Benson, Patrick T, Fallon, Mike Pence, Pence, Trump’s, Smith’s, Adrian Fontes, ” Fontes, It’s, Morales, ” CNN’s Marshall Cohen, Fredreka Schouten Organizations: CNN, Justice Department, Republican, Trump, GOP, TCF Center, Detroit’s TCF Center, Prosecutors, Republican National, RNC, Guadalupe, Washington Post, Getty, Republicans, America, Legal Foundation, United Sovereign Americans, Center, Fox News, Republican Party, Board, Arizona, Brennan Locations: Detroit , Michigan, Florida, Philadelphia, Michigan, Pennsylvania, Gwinnett County , Georgia, ”, Gwinnett County, Guadalupe Mercado, Guadalupe , Arizona, Kent County , Michigan, Swing, Georgia , Michigan, Maricopa, AFP, Georgia, Arizona, Cochise County

☆ Israel steps up its airstrikes on Beirut as the conflict in the Middle East escalates
▼ + stars: | 2024-10-04 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

Israel is intensifying strikes on Lebanon in an attempt to dismantle Hezbollah's command. Israel also blocked a major road near Lebanon's Masnaa border crossing with Syria, a report said. AdvertisementIsrael carried out air strikes in the Lebanese capital of Beirut on Friday as it stepped up its efforts to dismantle Hezbollah's leadership. According to The New York Times, citing Israeli officials, Israel targeted Hashem Safieddine, the rumored successor of Hezbollah's assassinated leader, Hassan Nasrallah. Related storiesThere are now growing fears that the conflict could transform into a full-blown war in the Middle East.

Persons: Hashem Safieddine, Hezbollah's, Israel, —, Hassan Nasrallah, Safieddine, Mohammad Rashid Sakafi, Adraee, Avichay Adraee, Joe Biden, Jake Oubina, Piper Sandler Organizations: Service, The New York Times, National News Agency, Israel Defence Forces, The Guardian, Brent, US West Texas, Reuters, Fox Business Locations: Israel, Lebanon, Lebanon's, Syria, Beirut, Beirut's, Gaza, Tehran

☆ Inside the 24-hour legal whiplash that sent 30 million student-loan borrowers into limbo
▼ + stars: | 2024-10-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Millions of student-loan borrowers have faced legal whiplash over the past 24 hours. A Missouri judge blocked Biden from carrying out his broader debt relief plan just hours after receiving the case. The ruling came before the Education Department had even published the final rule for the debt relief. That's because the lawsuit argued the relief would hurt the revenue of student-loan company MOHELA, which is based in Missouri. Advertisement"The Department of Education is extremely disappointed by this ruling," a department spokesperson told Business Insider.

Persons: Biden, —, It's, Joe Biden's, Matthew Schelp, Donald Trump, Schelp, Biden's, hasn't, servicers, Andrew Bailey, Sen, Elizabeth Warren, Trump Organizations: Education Department, Service, GOP, MOHELA, Department, Department of Education, Republican, of, Higher, Missouri, else's Ivy League Locations: Missouri, Georgia, Eastern, of Missouri

☆ OpenAI just secured a ton of new cash. Now it needs to wow us
▼ + stars: | 2024-10-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

One thing seems clear: The company is burning through far more cash than it’s bringing in, according to reporting from the New York Times. (That’s revenue largely from subscriptions to premium versions of ChatGPT and licensing its tech to third-party developers.) Here’s where things get a little wild:Next year, OpenAI estimates that its revenue will more than triple to $11.6 billion. It’s not clear how, or whether, OpenAI is working on reducing its significant cash burn. “It has nothing to do with reality.”One way OpenAI could improve its margins would be to cut costs.

Persons: CNN Business ’, New York CNN —, Goldman Sachs, that’s, Gil Luria, Davidson, ” Luria, “, Luria, There’s, OpenAI, Sam Altman, we’ve, ” Organizations: CNN Business, New York CNN, Google, Pfizer, Microsoft, Nvidia, Ark Investment Management, Apple, Wall Street, New York Times, Times, CNN, CNBC, Bravo, ” Locations: New York, Silicon Valley, Silicon

☆ Britain's defense sector vies for stretched government funding on path to 2.5%
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liverpool, ENGLAND — British defense officials are vying to secure more funding as Finance Minister Rachel Reeves' upcoming Autumn budget risks exacerbating already beleaguered efforts to boost military investment. Maria Eagle, the U.K.'s minister of defense procurement, joined a chorus of voices that called on the sector to prove that it could be more efficient under the new government, as the Treasury grapples with allocating its stretched finances. Meanwhile, the war in Ukraine has cast a spotlight on deep inefficiencies within Britain's defense sectors, provoking calls for reform. A 72-page House of Lords report published Thursday last week warned of "burdensome bureaucracy" in military recruitment and "cumbersome" procurement processes. Unless "laser-sharp priorities" are set, even 2.5% might not be enough to meet the country's defense needs, it said, adding that the government must acknowledge the essential need for higher defense spending and communicate that to the public.

Persons: Sir Keir Starmer, Rachel Reeves, Maria Eagle, We've, Eagle, Let's, Keir Starmer, — Organizations: RAF, Armed Forces, Treasury, Labour Party, NATO Locations: Oxfordshire, Liverpool, ENGLAND, Ukraine

☆ A lasting U.S. ports strike deal is far from done, with automation a big hurdle in ILA/USMX negotiations
▼ + stars: | 2024-10-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Dockworkers strike in a picket line outside of the Port of Houston Authority on October 01, 2024 in Houston, Texas. The strike, affecting 36 ports, marked a historic event and was the first by the union since 1977. (Photo by Brandon Bell/Getty Images)The tentative agreement to suspend the International Longshoremen's Association strike may have consumers and businesses breathing a sigh of relief. In a statement Friday, the ILA said it wants to tighten the language related to the use of automation at ports. It is only a tentative agreement and automation at ports will remain a major stumbling block," said Peter Sand, chief shipping analyst at supply chain intelligence firm Xeneta.

Persons: Brandon Bell, Peter Sand, Harold Daggett, Daggett, Dennis Daggett, Harold Daggett's, that's, Sand, Dr, Michael Nacht, Larry Henry Organizations: Port, Houston Authority, International Longshoreman's Association, United States Maritime Alliance, International Longshoremen's Association, ILA, CNBC, Office, GAO, Public, University of California, Defense, ContainerTrac, International, Warehouse Union, Pacific Maritime Association Locations: Houston , Texas, U.S, Berkeley, Long Beach, Los Angeles , California, West Coast

☆ Anand Rathi Wealth: Plenty of Indian household money sitting on the sidelines
▼ + stars: | 2024-10-04 | 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 EmailAnand Rathi Wealth: Plenty of Indian household money sitting on the sidelinesFeroze Azeez from Anand Rathi Wealth, discusses the issues barring the financial deployment of household savings in India, as well as some of the long-term challenges that Indian banks could face.

Organizations: Anand, Anand Rathi Locations: Anand, India

☆ Jon Steinlauf, WBD's Top Ad Salesman, to Leave. Read the Memo.
▼ + stars: | 2024-10-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's top ad salesman, will leave at the year's end. Steinlauf's departure follows his role in merging ad sales units after the Discovery-WarnerMedia deal. Discovery's top ad salesman, will leave the media company at the end of the year, according to an internal memo from Bruce Campbell, WBD's chief revenue and strategy officer, that was shared with Business Insider. AdvertisementSteinlauf led Discovery's ad sales business starting in 2018 under Zaslav pre-merger, having joined Discovery through its acquisition of Scripps Networks. Read the memo about Steinlauf's departure from the company below:

Persons: Jon Steinlauf, —, Bruce Campbell, Turner, WBD, Comcast's NBCU, Marybeth Strobel, Ryan Gould, David Zaslav, Steinlauf Organizations: Warner Bros, Discovery, NBA, Service, Business, CNN, HBO, Disney, Paramount, Turner Sports, Zaslav, Scripps Networks

☆ Harris' Uber executive brother-in-law says he won't join her cabinet. Other business leaders still have a shot.
▼ + stars: | 2024-10-04 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Tony West, Harris' brother-in-law and an Uber executive, doesn't plan on serving in her cabinet. Other private sector stars are in the running for key positions like Treasury secretary. Tony West, Harris' brother-in-law and a top executive at Uber, has been instrumental in cementing the vice president's relationship with corporate America. Sources told Semafor he's a leading candidate for Treasury secretary, among other positions. Related storiesBut Chenault isn't a shoo-in — leaders on and off Wall Street are also jockeying for the coveted position.

Persons: Tony West, Harris, —, Kamala Harris, Uber, Ken Chenault, Chenault, Semafor he's, Berkshire Hathaway, Wally Adeyemo, Gina Raimondo, Jamie Dimon, JPMorgan Chase, Blair Effron, Charles Phillips, Brad Smith, Lina Khan, Gary Gensler, Mark Cuban Organizations: Service, White, Uber, America, Wall Street Journal, Former American Express, Democratic, Democratic National Convention, American Express, Facebook, IBM, Procter, Gamble, Treasury, Commerce, JPMorgan, CNBC, Microsoft, Federal Trade Commission, Securities, Exchange Commission, SEC Locations: Airbnb, Berkshire

☆ A Nevada official was found guilty of using $70K meant for a statue of a slain police officer for plastic surgery, her daughter's wedding, and rent
▼ + stars: | 2024-10-04 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

A jury found Nevada official Michele Fiore guilty of misusing $70,000 meant for a memorial. The statue was to honor a Las Vegas police officer killed in the line of duty. Prosecutors said funds were spent on personal expenses like rent, plastic surgery, and a wedding. The Las Vegas Metropolitan Police Department officer, along with fellow officer Igor Soldo, was shot and killed "execution-style" while eating lunch in June 2014, according to the Officer Down Memorial Page. An exhibit list showed that FBI agents also seized invoice documents for a Las Vegas plastic surgery practice.

Persons: Michele Fiore, —, KLAS, Fiore, Donald Trump, Alyn Beck, Igor Soldo, Dahoud Askar, Michael Sanft Organizations: Las, Prosecutors, Service, Las Vegas, Republican, PAC, Las Vegas Metropolitan Police Department, FBI, Business Locations: Nevada, Las, Nye County, Caribbean, California, Vegas

A partial list of those killed in the strike, and a class photograph found in the rubble. Diego Ibarra Sanchez for The New York Times

Persons: Diego Ibarra Sanchez Organizations: The New York

☆ Russia is facing a 'time bomb' at the heart of its economy, economist says
▼ + stars: | 2024-10-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Russia is breaking down institutions and "borrowing from the future," Konstantin Sonin says. The economist notes Russia is taking measures to exert more control over its economy. But those actions are hurting Moscow's economic future, Sonin said. Konstantin Sonin, a professor at the University of Chicago Harris School of Public Policy, said he foresaw a dark economic future ahead for Russia. Putin's war not only imposes on today's Russians a worse life than they otherwise would have had.

Persons: Konstantin Sonin, Sonin, — Organizations: Service, University of Chicago Harris School of Public, Syndicate, Heineken, International Monetary Fund Locations: Russia, Ukraine, Moscow

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