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Grocery inflation just hit its peak after a single banana was sold for $6.2 million on Wednesday. Cryptocurrency entrepreneur Justin Sun dropped over $6 million on the piece of produce — because it was duct-taped to a wall. The banana is part of a piece of artwork called "Comedian," created by the Italian artist and satirist Maurizio Cattelan. People view Maurizio Cattelan's "Comedian" on Oct. 25, 2024, in New York City. But the value of the artwork is not in the banana itself — it's derived from the certificate accompanying the purchase.

Persons: Justin Sun, Maurizio Cattelan, Maurizio Cattelan's, John Nacion, Sun, —, Sun's, ’, ” David Galperin Organizations: Getty, CNBC, Associated Press, Art Basel Miami Locations: Italian, New York City, John

☆ Viral banana artwork has sold again — this time for $6.24 million
▼ + stars: | 2024-11-21 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

But artist Maurizio Cattelan’s viral creation, titled “Comedian,” has proven a sound investment for one collector: One of the artwork’s three “editions” smashed estimates to sell for $6.24 million at a Sotheby’s auction in New York on Wednesday. The auction house had estimated the work to go for between $1 million to $1.5 million; bidding began at $800,000. Prior to the sale, Sotheby’s confirmed to CNN that neither the tape nor, thankfully, the banana are the originals. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary.

Persons: Maurizio Cattelan’s, ”, , Oliver Barker, Sotheby’s, Justin Sun, ” Sun, “, ’, Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: New York, Miami, Americas, Seoul, South Korea, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles

A banana duct-taped to a white wall — or an acclaimed piece of art, depending how you look at it — sold at a Sotheby's auction for $6.24 million on Wednesday. The artwork debuted at Art Basel Miami Beach in December 2019 and was initially estimated to sell around $1.5 million, according to Sotheby's. At one point, someone even took the banana off the wall and ate it. According to Sotheby's, Cattelan "single-handedly prompted the world to reconsider how we define art, and the value we seek in it." As Galperin put it, "There is no better forum to adjudicate the value of art and a single object than the platform of auction."

Persons: —, Maurizio Cattelan's, Nancy Durrant, Maurizio Cattelan, David Galperin, Sotheby's, rhapsodically, Durrant, Lucius Elliot, Durrant —, Elliot, Maurizio, Emmanuel Perrotin, Perrotin, Galperin Organizations: Art Basel Miami Beach, Art Basel, Americas, New, New York Post, Vogue Locations: New York

☆ Crypto investor pays $6 million for a banana — and plans to eat it
▼ + stars: | 2024-11-21 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Italian visual artist Maurizio Cattelan's duct-taped Banana entitled "Comedian," is on display during a media preview at Sotheby's in New York, on November 8, 2024. Crypto investor Justin Sun paid $6.2 million for a banana duct-taped to a wall, highlighting the soaring values of crypto and viral art. Sotheby's last night auctioned off the infamous banana, titled "Comedian," created by Italian artist and cultural prankster Maurizio Cattelan. People look at Italian visual artist Maurizio Cattelan's duct-taped Banana entitled "Comedian," during a press preview at Sotheby's in New York, on October 25, 2024. The seller of the Sotheby's banana had purchased it from one of the original buyers and was reselling it.

Persons: Maurizio Cattelan's, Kena Betancur, Robert Frank, Crypto, Justin Sun, Maurizio Cattelan, Sun, Sotheby's, Timothy A, Clary Organizations: Afp, Getty, Art Basel Miami Beach Locations: New York, Italian

But one thing is missing from the storied British carmaker Jaguar's new rebrand: cars. In a press release accompanying its rebrand, Jaguar's chief creative officer, Sir Gerry McGovern, explained the thinking behind the rollout. Jaguar sold fewer than 67,000 cars in the entire world last year, approximately half the number it sold in the fiscal year incorporating the beginning of the Covid-19 pandemic. In response to other X users asking why the ad didn’t feature any cars, Jaguar’s X account responded, “The story is unfolding. That ethos is seen in our new brand identity today and will be further revealed over the coming months.

Persons: Bud Light's, Lulu Cheng Meservey, grads, Sir Gerry McGovern, Adrian Mardell, ”, Rawdon Glober Organizations: Rostra, Jaguar, Art, Rover, Tata Motors Locations: U.S, Art Basel, India

☆ A bumper crop of art is hitting the New York auction market. Will Trump help?
▼ + stars: | 2024-11-19 | by ( Auzinea Bacon | John Towfighi | ) edition.cnn.com time to read: +6 min

Art on the auction blockA little more than half of Phillips, Christie’s and Sotheby’s sales — which will carry the three aforementioned art pieces — were based in New York, where 34 of the top 50 auction lots were sold in 2023, according to an Art Basel and UBS Art Market Report. Christie’s is auctioning 689 lots this week as part of the November art auctions. But Todd Levin of Levin Art Group was skeptical that tax cuts would do much for the art market. Interest ratesAnother drag on the art market over the last few years: high interest rates. A signal for what’s to comeNew York’s art auctions in the spring and fall could be a sign of things to come for the global art market, according to Woodham.

Persons: Maurizio Cattelan’s, ”, Andy Warhol’s “, Rene Magritte’s “, Sotheby’s, Phillips, Merrill Lynch, Donald Trump, Alex Glauber, ” Glauber, Christie’s, René Magritte, Marc Porter, Hiroko Masuike, Trump, bode, Todd Levin, “ It’s, Doug Woodham, —, Fernando Botero's, Kena Batancur, Glauber, Amy Whitaker, ’, ” Whitaker Organizations: New, New York CNN, Andy Warhol’s “ New York Skyscrapers, of, Christie’s, Association of Professional Art Advisors, CNN, Art Basel, UBS Art, New York Times, UBS Survey, Global, Trump White, Levin Art, Federal Reserve, Trump, NYU Steinhardt Locations: New York, Belgian, Christie’s Americas, Woodham, AFP, Miami

☆ René Magritte’s ‘L’empire des lumières’ sells for record $121 million
▼ + stars: | 2024-11-19 | by ( Karina Tsui | ) edition.cnn.com time to read: +4 min

CNN —A René Magritte painting depicting an eerily lit streetscape sold for more than $121 million at a Christie’s auction in New York on Tuesday –– surpassing its $95 million estimate and smashing the auction record for the Surrealist artist’s work. The auction also featured paintings by other modern giants like Ed Ruscha and Max Ernst. The painting sold for a record sum at a Christie's auction in New York. Two other Magritte works were included in the sale: The paintings “La cour d’amour” and “La Mémoire,” which sold for $10.53 million and $3.68 million, respectively. He produced a total of 17 oil paintings and 10 gouaches (water-based paintings) that all share the name “L’empire des lumières” –– and each with small alternations between versions.

Persons: Magritte, Mica Ertegun’s, Ed Ruscha, Max Ernst, ”, Max Carter, ” Carter, David Hockney, –, Claude Monet, Vincent van Gogh, Peggy Guggenheim, Sandra Zalman, Zalman, ” “, ” Zalman Organizations: CNN, Century, Art Basel, Venice Biennale, University of Houston Locations: New York, British, Hong Kong, Belgian

☆ How a viral, duct-taped banana came to be worth $1 million
▼ + stars: | 2024-11-17 | by ( ) www.cnbc.com time to read: +4 min

But a banana duct-taped to a wall? That might sell for more than $1 million at an upcoming auction at Sotheby's in New York. The yellow banana fixed to the white wall with silver duct tape is a work entitled "Comedian," by Italian artist Maurizio Cattelan. Now, the conceptual artwork has an estimated value of between $1 million and $1.5 million at Sotheby's auction on Nov. 20. When asked to compare Cattelan's banana to a classic like Monet's "Nymphéas," Galperin says impressionism was not considered art when the movement began.

Persons: Maurizio Cattelan, David Datuna, David Galperin, Galperin, Sotheby's, Cattelan, Chloé Cooper Jones, Cooper Jones, Claude Monet Organizations: Art Basel Miami Beach, Columbia University School of, Arts Locations: Miami Beach , Florida, Sotheby's, New York, Italian, Selfie, Miami

☆ The 'Trump trades' that also give you income as you wait for policies to come to fruition
▼ + stars: | 2024-11-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

In addition, analysts had to predict further gains ahead — the stocks have at least 1% upside to the average price target, according to FactSet. Bank of America is among those on Wall Street that think the banks' move since Election Day has not been excessive. Citizens gained 30% from Election Day 2016 through the end of that year and jumped 14% on Wednesday. It added nearly 4% the day after the election and gained 18% from Election Day 2016 through the end of that year. Halliburton, which yields 2.3%, has the largest potential upside ahead — nearly 32% to the average price target.

Persons: Donald Trump, Jeremy Siegel, Ebrahim Poonawala, Trump, Piper Sandler, Mark Fitzgibbon, Keith Horowitz, Halliburton, Jeff Miller Organizations: Dow Jones, Wharton School, CNBC, Bank of America, UST, Trump, Regional Banking, Citizens Financial, Fifth Third Bancorp, Citizens, Fifth, Citigroup, Citi, Marathon Petroleum, Halliburton Locations: Gulf of Mexico

☆ Europe's banks brace for tougher competition under Trump 2.0
▼ + stars: | 2024-11-09 | by ( ) www.cnbc.com time to read: +2 min

JPMorgan , Goldman Sachs and Morgan Stanley shares all soared while the STOXX Europe 600 Banks index is down more than 1% for the week. "If U.S. banks get the expected policy support, they could ramp up loan volumes and optimize capital in ways that Europe's banks just can't match right now," Materazzi said. Since early 2010, European banking shares have fallen 10%, while U.S. lenders have more than tripled. The European Central Bank has estimated that euro zone banks' return on equity fluctuates around 5%, against 10% in the U.S., linking it to higher U.S. fee income and legacy non-performing loans with which European banks still grapple. A wave of deregulation should give European banks some leverage to lobby for easing the rules in Europe, which are already more onerous, one banking executive told Reuters.

Persons: Boris Roessler, Donald Trump, Goldman Sachs, Morgan Stanley, David Materazzi, Materazzi, Karin Keller, Sutter, Rachel Reeves, Trump Organizations: Getty, JPMorgan, Galileo, European Central Bank, Trump . Swiss, Reuters, The Locations: Frankfurt, U.S, Britain, Basel, Italy, USA, Europe, The U.S

☆ The four best bank stocks to own amid the Trump trade, according to top analyst Graseck
▼ + stars: | 2024-11-07 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

A Donald Trump presidency and Republican-controlled Senate could boost big banks, according to Morgan Stanley analyst Betsy Graseck. The analyst highlighted four big banks investors should look toward: Citigroup, Goldman Sachs , Wells Fargo and Bank of America . The acceleration in capital markets should benefit all the big banks, and Goldman Sachs is set to benefit the most, she noted. Meanwhile, Citigroup is most exposed to tailwinds from higher excess capital levels as a Republican-led government is unlikely to raise current capital requirements. She estimates this will result in an $86 billion jump in current excess capital for the big banks in the firm's coverage.

Persons: Donald Trump, Morgan Stanley, Betsy Graseck, financials, Financials, Graseck, Goldman Sachs, Wells, Goldman Organizations: Republican, Trump, House Republicans, Citigroup, Bank of America Locations: Wells Fargo, Basel

☆ Palestinian and Israeli filmmakers tell their own story in ‘No Other Land’
▼ + stars: | 2024-11-03 | by ( Leah Asmelash | ) edition.cnn.com time to read: +12 min

Residents countered, saying the IDF had blown up Palestinian homes in Masafer Yatta decades earlier, in 1966). Speaking from Adra’s family home in Masafer Yatta, they spoke with CNN about life under occupation, and what, if anything, their documentary might change. And it’s unfortunate that people are now talking about the need for political change only after, in a way, human beings are paying with their blood. What I saw, like the missions happening, the attacks are happening here in Masafer Yatta. And this is what’s really happening here in Masafer Yatta.

Persons: Basel Adra, Tony Blair, Blair, Adra, Adra’s family’s, ” Adra, “, ”, — Adra, Yuval Abraham, Abraham, it’s, you’re, Yuval Abraham Abraham, It’s, they’re, I’ve, — Organizations: CNN, UK, West Bank, Adra, Berlin, Lincoln Center, New York Film, Basel, Google Locations: Israel, Hebron, Masafer, New York, Gaza, Masafer Yatta, Basel, Palestine, United States, South Africa, Yatta, Washington, London

☆ Trump and Harris portfolios to play the election winner, according to Strategas Research
▼ + stars: | 2024-11-01 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

"The differences between Trump and Harris are as wide as we have ever seen." Differences in trade policy specifically, he said, are going to "determine where growth and earnings take place around the world." In contrast to Trump's trade policy, reduced trade tensions under Harris could lead to gains for FedEx , which has advanced more than 8% this year. During that debate, Harris also accused Trump of gearing up to abandon support of Ukraine. If Harris were to win the election, Clifton believes RTX is beneficiary of continued U.S. support of Ukraine.

Persons: Strategas, Donald Trump, Kamala Harris, Daniel Clifton, Harris, Clifton, Lazard, Trump, RTX Organizations: U.S, NBC, Trump, Republican, Basel III, Nasdaq, FedEx, Biden, NextEra Energy Locations: China, Basel, India, Cleveland, Southern, Ukraine, U.S

☆ Maurizio Cattelan’s viral banana artwork ‘Comedian’ could now be worth $1.5 million
▼ + stars: | 2024-10-25 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

But artist Maurizio Cattelan’s viral creation, titled “Comedian,” may yet prove a sound investment: On Friday, auction house Sotheby’s announced that one of the artwork’s three “editions” is going back on sale — this time with an estimate of $1 million to $1.5 million. “‘Comedian’ is a conceptual artwork, and the actual physical materials are replaced with every installation,” an auction spokesperson said via email. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary. An installation shot of "Comedian" released by Sotheby's auction house ahead of the sale.

Persons: Maurizio Cattelan’s, ”, Sotheby’s, “, ’, Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: Miami, New York, Americas, Seoul, South Korea, York, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles

☆ The art market is in a correction as big spenders fade
▼ + stars: | 2024-10-24 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

The number of wealthy collectors surveyed who plan to purchase art in the next year fell to 43% from over half in 2023. The median spending on art by wealthy collectors remains stable at around $50,000 a year, according to the survey. Higher interest rates also raised the opportunity cost of buying art, since wealthy collectors could earn an easy 5% or more from cash and Treasuries. Just as in the classic-car market, the art market is going through a generational shift that's created a mismatch between supply and demand. According to the survey, the high end of the art market, or works priced at $10 million or more, was the strongest before 2022.

Persons: Andy Warhol, Jean, Michel Basquiat, Wiktor, Robert Frank, Phillips, Bonhams, Paul Donovan, Xers, they're, Donovan, Gen Xers, Gen Organizations: Art Basel, UBS Survey, UBS Global Wealth Management, Art Basel Miami Beach, Dealers, UBS Locations: London, United Kingdom, Christie's, Sotheby's, New York, East, Ukraine, Europe, China

☆ Financial stocks are still being woefully underappreciated by investors, Morgan Stanley says
▼ + stars: | 2024-10-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Positioning in financial stocks is light relative to other sectors, Morgan Stanley says. AdvertisementInvestors are lingering in defensive trades that don't take advantage of the economy's strength, Morgan Stanley said, highlighting opportunities in underinvested sectors. The firm — which just last week upgraded cyclical stocks to "overweight" relative to defensives — described the financials group as particularly attractive. Morgan Stanley said net exposure to financials was in the bottom 15th percentile of a historical data series that goes back to 2010. Morgan Stanley noted that this weakness lowered earnings-season expectations for investors, making it easier for major lenders to outperform forecasts.

Persons: Morgan Stanley, —, financials, Mike Wilson, Wells Fargo, Wilson Organizations: Service, Bank, JPMorgan, Utilities, defensives, ISM Locations: Basel

☆ Museum’s beer can artwork accidentally thrown in trash by staff member
▼ + stars: | 2024-10-08 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —A lift technician at a museum in the Netherlands mistakenly threw away a piece of artwork made to look like two empty beer cans. “Our art encourages visitors to see everyday objects in a new light. “He was just doing his job in good faith”, said van Zanten. They were cleaned and then displayed on a traditional plinth at the museum entrance, according to the statement. Last year, an artwork consisting of a banana duct-taped to a wall was eaten by a hungry visitor to a gallery in Seoul, South Korea.

Persons: Alexandre Lavet, ”, Sietske van Zanten, van Zanten, it’s, Alexandre Lavet’s, “, Elisah van den Bergh, hasn’t, Maurizio Cattelan Organizations: CNN, LAM, Art Basel Miami Beach Locations: Netherlands, French, Lisse, Amsterdam, Seoul, South Korea, Italian

☆ A Swiss town borders 2 other countries, making it the ideal base for exploring. Here's what 6 days in Basel were like.
▼ + stars: | 2024-10-05 | by ( Monica Humphries | ) www.businessinsider.com time to read: +7 min

I spent six days in the Swiss city of Basel, exploring the town's rich art scene. AdvertisementWhen you land in Basel, Switzerland, you land in a Swiss fantasy. I had arrived for its biggest art celebration: Art Basel, an international fair where 250 gallerists feature 4,000 artists. Monica Humphries/Business InsiderHere, I tracked down French pastries, hopped on a trolly tour, and got lost in the picturesque streets. The one thing I feel I missed during my Basel trip was a visit to Germany.

Persons: —, Monica Humphries, Jean Tinguely's, Pablo Picasso, Henri Matisse, Julio Le Parc's, Queen Elizabeth II, it's, I've Organizations: Service, Basel, Kunstmuseum Basel, DJ, Basel would've Locations: Swiss, Basel, France, Germany, Switzerland, It's, Basel's Klybeck, Klybeck, Miami, Bushwick , Brooklyn, Colmar, Alsace, Kandersteg, Titisee, Baden, Europa, France's, Bern, Lucerne

☆ Insider Today: Getting rich off Airbnb
▼ + stars: | 2024-10-05 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +6 min

You can sign up for Business Insider's daily newsletter here. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTo successfully "swipe right" in the office, there are some rules you should follow, according to two human resource professionals who spoke to Business Insider's Jordan Hart. Airbnb arbitrageGetty Images; Jenny Chang-RodriguezGen Z has a new side hustle: Airbnb superhosting. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.

Persons: —, Chris Haston, y'know, Insider's Jordan Hart, Cheryl Swirnow, Christopher Sheekey, Jenny Chang, Rodriguez Gen Z, somethings, Dave Ramsey, they're, Critics —, Van Cleef, Tyler Le, Monica Humphries, Alyssa Powell, seltzer, What's, Natalie Ammari, Stephen King, Max, Mike Flanagan, Kate Siegel, Rebecca Zisser, Boots, booties, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, Bank, Netflix, Deal Locations: Zegna, Basel, Switzerland, France, Germany, Washington, New York City, New York, Chicago

☆ Rich millennials like Leo from 'LIB' can come off as arrogant when talking about their wealth — but there's a better way to disclose your income on dates
▼ + stars: | 2024-10-05 | by ( Julia Pugachevsky | Palmer Haasch | ) www.businessinsider.com time to read: +7 min

Leo is an art dealer who appears in "Love Is Blind" season seven. AdvertisementWarning: This post contains spoilers for "Love Is Blind" season seven through episode six. He inherited a family art dealing business at a young age after several of his family members died of cancer. Leo has a conversation with some other male cast members on "Love Is Blind" season seven. AdvertisementThe next batch of "Love Is Blind" season seven episodes will be released Wednesday, October 9 on Netflix.

Persons: Leo, —, you'll, doesn't, he's, Hannah, Amanda Clayman, Clayman, I'm, Kristin Papa, it's, Papa, Brittany, isn't Organizations: Service, Art Basel, Business, Netflix Locations: Washington, DC, Brittany

☆ Paris Fashion Week: Highlights from the Spring-Summer 2025 shows
▼ + stars: | 2024-10-03 | by ( Alice Pfeiffer | ) edition.cnn.com time to read: +14 min

Editor’s Note: CNN Style is one of the official media partners of Paris Fashion Week. Fashion house Coperni took over Disneyland Paris on Tuesday evening and staged their show in front of the iconic Sleeping Beauty castle. Brand history was similarly front and center at Alexander McQueen, where Seán McGirr showed his second collection for the label. River Callaway/WWD/Getty ImagesBirds were a recurring motif in the Stella McCartney collection shown during Paris Fashion Week and chosen by the designer to protest their use in the fashion industry. Jerome Domine/Abaca Press/Sipa USA"I’ve been thinking of the billions of birds that get killed for the fashion industry," said McCartney.

Persons: Coperni, Lyvans Boolaky, Chemena Kamali, Pascal Le Segretain, Valentino, Alessandro Michele, Gucci, Michele, Alexander McQueen, Seán McGirr, ”, Johanna Geron, Ann Demeulemeester, Stefano Gallici, ” Gallici, Francois Durand, Alphonse Maitrepierre’s, Donald Duck, Miyake, Julien De Rosa, Kristy Sparow, Issey Miyake, Wool, knitwear, Mickey, Sébastien Meyer, Arnaud Vaillant, “, Chanel, Van Noten, Sarah Meyssonnier, Stella McCartney, I’ve, McCartney, Jerome Domine, Jerome, Andreas Kronthaler, Vivienne Westwood’s, Paul Watson, Dame Vivienne, Vivienne Westwood, Louis Sullivan, Junya Watanabe, Dior, —, Sagg Napoli, Sofia Ginevra Giannì, Jonathan Anderson's, Loewe, Ik, Louis Vuitton, Miu Miu, Miuccia Prada, Goshka Macuga, Saint Laurent, Yves Saint Laurent, Demna Gvasalia, Giovanni Giannoni, Dykes, Williams, Harri Shanahan, Thatcher, Antonin Tron, Gigi Hadid, McGirr, Donald, Justin Shin, Mary Jane, Victor Virgile Organizations: CNN, Paris, Paris CNN, Paris Fashion, Disneyland Paris, Getty, Pompidou, Disney, Balmain, Reuters, Callaway, Fashion, Abaca, Louis, Art, femmes, Lingerie Locations: France, Europe, Chloé, AFP, Paris, Bermuda, Greenland, Stockholm, London, Balenciaga, Siân

☆ Why JPMorgan Chase is prepared to sue the U.S. government over Zelle scams
▼ + stars: | 2024-09-27 | by ( Hugh Son | ) www.cnbc.com time to read: +7 min

The lender disclosed that the Consumer Financial Protection Bureau could punish JPMorgan for its role in Zelle, the giant peer-to-peer digital payments network. In response, JPMorgan issued a thinly veiled threat: "The firm is evaluating next steps, including litigation." Trade groups say that in the aftermath of the financial crisis, banks became easy targets for populist attacks from Democrat-led regulatory agencies. Amid the scrutiny, the bank began warning Zelle users on the Chase app to "Stay safe from scams" and added disclosures that customers won't likely be refunded for bogus transactions. While all of these battles are ongoing, the financial industry has racked up several victories so far.

Persons: JPMorgan Chase, Jamie, Evelyn Hockstein, Tobin Marcus, Joe, Marcus, That's, Biden, Marianne Lake, Zelle, Banks, Jamie Dimon, Dimon, Donald Trump, Kamala Harris, Mark Pittman Organizations: JPMorgan, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, Reuters, JPMorgan Chase, Consumer Financial, Democrat, Republican, Wolfe Research, Services, PayPal, Bank of America, Senate, Electronic, Federal Reserve, U.S . Chamber of Commerce, Northern, Northern District of Texas Locations: Washington ,, Zelle, Basel, Wells Fargo, Northern District

☆ Janet Yellen didn't name Trump in her big speech, but her fears of his anti-regulation stance loomed large
▼ + stars: | 2024-09-26 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +4 min

Read previewSpeaking at the US Treasury Market Conference on Thursday, Treasury Secretary Janet Yellen referenced her predecessors — and their mistakes — often. This story is available exclusively to Business Insider subscribers. "In January 2021, I stepped into a Treasury Department whose focus on financial stability had all but disappeared," she said. "Put simply, we were without crucial tools to identify and help respond to risks to financial stability," she said. Related storiesThere's nothing indicating that a second Trump administration would bring a different attitude toward regulation than his first.

Persons: —, Janet Yellen, Donald Trump, Yellen, Trump's, Trump, Steven Mnuchin, Jon Hilsenrath, Kamala Harris Organizations: Service, US Treasury Market Conference, Business, Treasury Department, Federal Reserve, Securities, Exchange, Politico, Trump, Wall Street Locations: Basel III, mull

☆ Here we go again: Egg prices are spiking. Here’s why
▼ + stars: | 2024-09-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Egg prices spiked by 28.1% in August from 12 months ago, easily the biggest increase out of any food item tracked by the Bureau of Labor Statistics. The main culprit for rising egg prices is a familiar one: bird flu. Where egg prices are rising the mostStill, the current BLS average of $3.20 per dozen eggs remains high. Zooming in to focus on just the past year, Datasembly found that egg prices have increased the most in Hawaii (+49%), Minnesota (+44%) and Alabama (+38%). When egg prices spiked to record highs in early 2023, Cal-Maine’s profit skyrocketed 718%.

Persons: ”, Phil Lempert, they’ve, Price, Brian Moscogiuri, Datasembly, Moscogiuri, graf, ” Moscogiuri, Kevin Bergquist, Musharbash, Emily Metz, ” Metz, Lempert, “ Organizations: New, New York CNN, Bureau of Labor Statistics, Centers for Disease Control, Prevention, US Department of Agriculture, USDA, CNN, Shoppers, Food Institute, Farm, Maine Foods, Cal, Basel Musharbash, Monopoly, American Egg Board, SNAP Locations: New York, Minnesota, Missouri, Iowa, Oklahoma, Alabama, Hawaii, Wells, United States, Cal, Maine, Basel, Texas

☆ Powell: Proposed changes to Basel Endgame have my support
▼ + stars: | 2024-09-18 | 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 EmailPowell: Proposed changes to Basel Endgame have my supportFederal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

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