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☆ Ripple launches crypto storage services for banks in bid to diversify
▼ + stars: | 2024-10-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

U.S. blockchain startup Ripple made a major foray into crypto custody on Thursday, launching new services aimed at helping banks and financial technology firms to store digital assets on behalf of clients. The crypto custody market is forecast to reach at least $16 trillion by 2030, according to the Boston Consulting Group. Ripple said that custody is one of the fastest-growing areas for the startup, with Ripple Custody posting customer growth of over 250% year-over-year growth this year and operating in seven countries. Last year, Ripple acquired Metaco, a firm that helps other entities store and manage their crypto, in a bid to boost its nascent crypto custody business. The company this year also acquired Standard Custody & Trust Company, another crypto custody firm, to further bolster its efforts.

Persons: Ripple, Aaron Slettehaugh Organizations: CNBC, Boston Consulting, HSBC, BBVA, Societe Generale, DBS, XRP, Trust Company, U.S . Securities, Exchange Commission, SEC Locations: San Francisco, Swiss

☆ Sanctions have put the production of Russia's most advanced stealth fighter in jeopardy, research group says
▼ + stars: | 2024-10-10 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

Western sanctions have impacted Russia's production of Su-57 fighter jets, according to a research group. AdvertisementWestern sanctions are threatening Russia's production of its prized Su-57 fighter jet, according to a research group. "It's clear that Russia's military industry heavily depends on Western components, particularly in electronics," it said, adding that sanctions have put Russia's Su-57 production "in jeopardy." "There's no question that Western sanctions are having an impact on Russia's ability to generate its most sophisticated military systems," Spurling told BI. Western sanctions and the war in Ukraine have damaged Russia's economy, but their exact impact is difficult to quantify.

Persons: —, Russia's Su, Bryden Spurling, Spurling, Su, Justin Bronk, Anders Åslund, Alexandra Prokopenko, Putin, Jay Zagorsky Organizations: Frontelligence, Telegraph, Service, EA, RAND Europe, NATO, UK Ministry of Defence, Royal United Services Institute, Project Syndicate, Carnegie, Carnegie Russia Eurasia Center, Financial, Boston University's Questrom School of Business Locations: Russia, Ukraine, Astrakhan, Swedish, Carnegie Russia

☆ US sting operation catches crypto firms 'wash trading' to boost token values
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

A tip from the SEC led federal prosecutors to set up a fake company to bust crypto market manipulators. The firms are charged with "wash trading," artificially increasing trade volume to boost token prices. The case marks the first such charges against crypto firms, prosecutors say. The charges are the first in the crypto industry related to "wash trading." The sting charged ZM Quant, CLS Global, and MyTrade with wash trading related to their communications with NexFundAI.

Persons: —, Jodi Cohen, cryptocurrency –, Joshua Levy Organizations: SEC, Service, Securities and Exchange Commission, FBI, CLS Global, NexFundAI, Boston, United Locations: Boston, Saitama

According to the lawsuit, these universities bilked applicants from divorced or separated homes by including the financial backgrounds of noncustodial parents when determining financial aid packages. The universities engaged in “a concerted action” to require that an applicant’s noncustodial parents, meaning the parent a student does not primarily live with, provide their financial information to be eligible for nonfederal financial aid, the lawsuit states. The universities generated financial aid offers based on an applicant’s custodial and noncustodial parents’ financial statuses. The College Board’s push to include noncustodial parents’ financial information began in 2006, the lawsuit says, and never included consideration for whether that parent would contribute to a student’s education. “This lawsuit has no merit and NYU intends to vigorously defend itself and its financial aid policies and procedures,” NYU spokesperson John Beckman said in a statement.

Persons: Brown, Hagens Berman, Steve Berman, ” Berman, ”, John Beckman Organizations: Harvard, Cornell, Dartmouth, Yale, Boston University, Cornell University, Northern, Northern District of Illinois, College Board, “, College Board’s, Financial, Columbia University, The, Board, ” New York University, NBC News, NYU, Georgetown University, Fordham, University of Pennsylvania, NBC Locations: United States, U.S, Northern District, Columbia

☆ Social Security cost-of-living adjustment for 2025: Here's how benefits may change
▼ + stars: | 2024-10-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

The Social Security cost-of-living adjustment, or COLA, could be 2.5% next year, Mary Johnson, an independent Social Security and Medicare analyst, predicted last month. The Social Security Administration is expected to announce the COLA for 2025 on Thursday. Social Security COLAs have averaged about 2.6% over the past 20 years, according to the Senior Citizens League. More from Personal Finance:House may force vote on bill affecting pensioners' Social Security benefitsWhy children miss out on Social Security survivor benefits72% of Americans worry Social Security will run out in their lifetimesCould the Social Security COLA estimate change? The official Social Security cost-of-living adjustment will factor in one more month of government inflation data when it is announced.

Persons: Mary Johnson, Joe Elsasser, Elsasser, Alicia Munnell, Johnson, Hurricane Helene Organizations: Social, Social Security, Social Security Administration, Senior Citizens League, Center for Retirement Research, Boston College, Finance, Urban, Clerical Workers

☆ Amazon same-day prescription delivery expanding to nearly half of U.S. in 2025
▼ + stars: | 2024-10-09 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon plans to bring same-day prescription delivery to 20 more cities next year, the company said Wednesday, marking the latest phase of its push into health care. As part of the expansion, which will make speedy medicine delivery available in nearly half of the U.S., Amazon said, it is embedding pharmacies in same-day delivery facilities often clustered around major metro areas. Amazon in March introduced same-day pharmacy delivery in New York and Los Angeles, after launching the service in Indianapolis, Miami, Phoenix, Seattle, and Austin, Texas. Launched in 2020, Amazon Pharmacy was born out of the company's 2018 acquisition of online pharmacy PillPack. It launched then shuttered its telehealth service, Amazon Care, along with a line of health and wellness devices.

Persons: Amazon Organizations: Amazon, Amazon Pharmacy, CVS, Walgreens, Walmart Locations: U.S, Nashville , Tennessee, New York, Los Angeles, Indianapolis , Miami, Phoenix, Seattle, Austin , Texas, Boston, Dallas , Minneapolis, Philadelphia, San Diego, Texas

☆ Declassified army photos look like they’ve been pulled from a fashion magazine
▼ + stars: | 2024-10-09 | by ( Zoe Whitfield | ) edition.cnn.com time to read: +6 min

Matthieu Nicol, whose singular new monograph is called “Fashion Army,” isn’t especially engrossed in the military. Of the nearly 15,000 he found in the online archive, “Fashion Army” re-contextualizes an edit of 350, featuring images of non-models from various military branches posing in uniform. Courtesy Matthieu Nicol/SPBH/MACKThe catalog-style images were produced for reasons unknown. Courtesy Matthieu Nicol/SPBH/MACK"Fashion Army" explores how military style has influenced different subcultures for decades. Military research always has civilian applications.” Courtesy Matthieu Nicol/SPBH/MACKThe correlation between the images here and wider fashion trends is explicit, too.

Persons: Harris, Walz, Chappell Roan’s, Matthieu Nicol, ” isn’t, ”, Rencontres d’Arles, Army ”, SPBH, MACK, Nicol’s, Angelo Flaccavento, “, Nicol, they’ve, ” Nicol, Louis Vuitton, Pharrell Williams, Helmut Lang’s, Chalamet, ” Flaccavento, Williams, Nigo, Juergen Teller, Martin Margiela Organizations: CNN, DNC, Army, SPBH, Army’s Natick Soldier Systems Center, US Army’s Natick Soldier Systems Center, US Army, Vuitton, Wonka, Billionaire Boys Club, C.P ., U.S . Army, “ Locations: Boston, Vietnam, —, Marfa, Las Vegas, Stone

☆ Gold lacks momentum as investors brace for Fed minutes
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped on Thursday as investors booked profits after a sustained rally and pressure from institutional investors looking to raise cash, while focus shifted to U.S. economic data for clues on the Federal Reserve's rate path. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory. "Gold prices seem to be seeing a much-needed retracement lower. Boston Fed President Susan Collins said on Tuesday that weakening inflation trends make it likely the U.S. central bank can implement further interest rate cuts. Zero-yield bullion tends to thrive in a low interest rate environment.

Persons: I'm, Matt Simpson, Simpson, Susan Collins Organizations: Federal, Index, Traders, U.S . Consumer, Boston, Gold Locations: U.S, North America

☆ Denver Nuggets head coach Michael Malone says he isn’t taking Nikola Jokic’s ‘greatness’ for granted heading into new season
▼ + stars: | 2024-10-09 | by ( Matias Grez | Bijan Hosseini | ) edition.cnn.com time to read: +5 min

CNN —The chance to win an NBA title doesn’t come around very often. Even when they do, injury misfortune can instantly derail a team’s title dream. That’s why Nuggets head coach Michael Malone said he “never” takes Jokić’s “greatness” for granted as the pair attempt to retake their NBA crown. The MVPs, the championship, he’s still the same guy. “You have the highest victory, first franchise championship in 47 years.

Persons: doesn’t, Nikola Jokić, –, Jokić, ”, Michael Malone, “, Ronald Martinez, ” Malone, CNN’s Bijan, I’ve, Nikola, Steph Curry, LeBron James, Russell Westbrook, he’s, He’s, Jaylen Brown, Larry O’Brien, Peter Casey, Westbrook, Dario Šarić, Malone, …, wouldn’t, team’s, Adam Silver, ” Silver, “ We’ve, Joe Dumars –, Fadel Senna, Holiday, that’s Organizations: CNN, Denver Nuggets, Nuggets, Minnesota Timberwolves, NBA, Boston Celtics, of Famer, Dallas Mavericks, USA, Reuters, Western Conference, West, Celtics, Getty Locations: Serbian, Abu Dhabi, AFP, Boston

☆ Luis Tiant, Cuban legend who pitched the Red Sox to the World Series brink, dies at 83
▼ + stars: | 2024-10-08 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

BOSTON — Luis Tiant, the charismatic Cuban with a horseshoe mustache and mesmerizing windup who pitched the Red Sox to the brink of a World Series championship and himself to the doorstep of the Hall of Fame, has died. Major League Baseball announced his death in a post on X on Tuesday, and the Red Sox confirmed that he died at his home in Maine. He had 187 complete games and 47 shutouts in a 19-year career spent mostly with Cleveland and Boston. His death comes one week after that of all-time baseball hits leader Pete Rose, whose Cincinnati Reds faced Tiant’s Red Sox in the 1975 World Series — still considered one of the greatest in baseball history. After his retirement, Tiant was inducted into the Boston Red Sox Hall of Fame but never made the national shrine in Cooperstown, New York, receiving a high of 30.9% of the votes in 1988, his first year on the ballot.

Persons: Luis Tiant, El, ” Tiant, Bob Gibson’s, Tiant, Pete Rose, Carlton Fisk’s Organizations: BOSTON, Red Sox, of Fame, Major League Baseball, AL, NL, Negro Leagues, Cincinnati Reds, Tiant’s Red Sox, Reds, Boston, Carlton, Boston Red Sox Hall of Fame Locations: Cuban, Maine, Cleveland, Boston, Cooperstown , New York

☆ Airbus' game-changing A321XLR will enter service soon. These airlines have already announced routes with the new plane, including 3 to the US.
▼ + stars: | 2024-10-08 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Airlines, including Iberia, Wizz Air, and Aer Lingus, have announced their first A321XLR routes. Irish carrier Aer Lingus said in October that it will launch its first A321XLR flight between Dublin and Nashville in April. The eight-and-a-half-hour route is a niche nonstop for the industry, with Aer Lingus as the only operator. Related storiesOther potential A321XLR routesWhile only a handful of A321XLR routes are officially on the books, many previously unserved city pairs could fit the bill, airlines have said. Qantas' list of potential A321XLR routes includes routes like Brisbane to Tokyo, Perth to the Maldives, and Melbourne to Bangkok.

Persons: —, Wizz's, Thomas Pallini, America — Organizations: Airbus, Airlines, Aer Lingus, Service, Airbus A321XLR, Spanish, Iberia, Boston, Washington Dulles, Wizz, London, United, Irish, Nashville, Saudia, Business, JetBlue Airways, JetBlue Airways Airbus, Australia —, Qantas, Jetstar, JetSMART Locations: Iberia, Wizz, Madrid, Washington, London Gatwick, Jeddah, Saudi Arabia, Milan, Abu Dhabi, United Arab Emirates, Dublin, Barcelona, Rome, Brussels, Maldives, Dakar, Senegal, New York, Boston, Los Angeles, San Francisco, Europe, Aer, United, Las Vegas , Houston, Australia, Asia, Brisbane, Tokyo, Perth, Melbourne, Bangkok, South, America, Chile, Miami

☆ Luis Tiant, Crowd-Pleasing Pitcher Who Baffled Hitters, Dies at 83
▼ + stars: | 2024-10-08 | by ( Bruce Weber | More About Bruce Weber | ) www.nytimes.com time to read: +1 min

Luis Tiant, a Cuban-born right-hander who was one of baseball’s most entertaining and charismatic pitchers, and whose personal story was among the game’s most poignant, died on Tuesday. His death was announced by the Boston Red Sox, for whom he pitched in the 1970s. The team did not say where he died or cite the cause. El Tiante, as he was known on the sports pages — or Loo-ee! as stadiums full of fans would often chant while he was on the mound — won 229 games over 19 big-league seasons, playing for teams in six cities, notably Cleveland and Boston, where he led the Red Sox to a World Series and became one of the most beloved players in the team’s storied history.

Persons: Luis Tiant, El, —, Tiant, Don Sutton, Don Drysdale, Lefty Gomez, Dizzy Dean, Roger Clemens, Whitey Ford, Catfish Hunter, Sandy Koufax, Bob Feller Organizations: Boston Red Sox, Red Sox Locations: Cuban, Cleveland, Boston, Cuba

☆ Famed Cuban, MLB pitcher Luis Tiant dies at 83
▼ + stars: | 2024-10-08 | by ( David Close | Thomas Schlachter | ) edition.cnn.com time to read: +2 min

CNN —Renowned Cuban baseball player Luis Tiant died Tuesday at his home in Maine, according to the Boston Red Sox. Tiant played for Cleveland, Minnesota, Boston, the New York Yankees and Pittsburgh before finishing his career with the California Angels. Rich Pilling/MLB Photos/Getty Images“Luis had the kind of unforgettable presence that made you feel like you were part of his world,” said John Henry, principal owner of the Boston Red Sox, where Tiant played from 1971-78. Tiant was inducted into the Red Sox Hall of Fame in 1997 and was a three-time MLB All-Star. My friend and teammate, Luis Tiant, passed away,” Tiant’s former teammate and nine-time All-Star Fred Lynn posted on X, formerly Twitter.

Persons: CNN —, Luis Tiant, “ El, Tiant, Rich Pilling, “ Luis, ”, John Henry, Luis, Fred Lynn Organizations: CNN, Boston Red Sox, MLB, Cleveland, New York Yankees, Pittsburgh, California Angels, Red Sox, American League, Red Sox Hall of Fame Locations: Cuban, Maine, Cleveland , Minnesota, Boston

☆ Analysis: John Roberts remains confounded by Donald Trump as election approaches
▼ + stars: | 2024-10-08 | by ( Joan Biskupic | ) edition.cnn.com time to read: +12 min

The former star appellate lawyer who allies once cast as the smartest person in the room remains confounded by the realities of Donald Trump. Roberts was shaken by the adverse public reaction to his decision affording Trump substantial immunity from criminal prosecution. The Roberts Court has been in sync with the GOP political agenda largely because of decisions the chief justice has authored: For Trump and other Republicans. But the politically charged valence deepened in the justices’ resolution of the case against former President Trump on election-interference charges from 2020. Harvard Law School professor Richard Lazarus, a longtime friend of Roberts, spent time with him in July immediately after the Trump decision was issued.

Persons: John Roberts, Donald Trump, Roberts, Trump, Roberts hewed, Roberts ’, Holder, Kamala Harris, Pew, Obama, John Marshall, Roger Taney, ” Roberts, Scott, Gore, Joe Biden, Harris, George W, Bush, Al Gore, Reagan, George H.W, William Rehnquist, ”, ” “, ” Trump, ’, Jack Smith, Sonia Sotomayor, excoriated, Sean Wilentz, Dred Scott, Erin Murphy, “, ” Roman Martinez, Pence, ” Smith, Tanya Chutkan, Chutkan, Smith, Richard Lazarus, Lazarus, ” Lazarus Organizations: CNN, Trump, White House, Democratic, Pew Research Center, Republicans, Texas Gov, Capitol, Princeton, New York, . United, Georgetown University Law Center, House . Harvard Law, New, New England Law Boston, The Washington Locations: County, . United States, Galway, Ireland, New England

The 2024-2025 NHL regular season kicks off on October 8, and we've compiled everything you need to know about how to watch NHL games, including cable and live streaming options. How to watch NHL games in the USNationally broadcast NHL games will air on ABC, ESPN, TNT/TBS, and ESPN+ this season. ESPN Plus (Monthly Plan) ESPN Plus is designed for sports, giving subscribers access to live MLB, NHL, NFL, soccer, golf, and UFC fights. All subscriptions are bundled with ESPN+, Disney+, and Hulu on-demand, so you can catch the exclusive ESPN+ games. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus.

Persons: we've, It's, it's, There's, Max, Hulu's, ExpressVPN Organizations: Business, NHL, Florida Panthers, Stanley, Edmonton Oilers, Panthers, Boston Bruins, ESPN, Disney, Warner Bros, ABC, TNT, TBS, Hulu, MLB, NFL, UFC, Disney Plus, ESPN Sling TV, Sling, Max, DirecTV, DirecTV Stream Locations: Hulu

☆ After over 50 cruises, I no longer book sailings to the Bahamas or the rest of the Caribbean. Here's what I choose instead.
▼ + stars: | 2024-10-08 | by ( Amanda Adler | ) www.businessinsider.com time to read: +5 min

I've loved the Caribbean but I'm more interested in other ports now that I've been on 50+ cruises. Although I still love these ports, they've lost their appeal to me now that I've been on more than 50 cruises. Sailing through the Norwegian fjords is one of my favorite cruise experiences to date — the breathtaking views surrounds the ship in all directions, offering endless photo opportunities. So, no matter the itinerary, I now tend to book lengthier sailings — ideally ones longer than a week. Amanda AdlerAlthough I've secured great pricing on international cruises, I'm often looking to sail closer to home in the US.

Persons: I've, —, — it's, they've, it's, Amanda Adler, we've Organizations: North, Service, Acadia Locations: Bahamas, Scandinavia, Caribbean, Europe, Iceland, Norway, Central Europe, New England, Boston, Canada, West Coast, Catalina, Hawaii

The sole lesbian bar in Colorado, Blush & Blu, hosted its final party on Saturday night after announcing it would close its doors. "In a lesbian bar, we are at home. A post-pandemic “lesbian bar renaissance” occurred, however, leading to new businesses opening in different states, according to an NBC News analysis. The Lesbian Bar Project documents lesbian bars and maintains a list of open businesses. There are about 30 lesbian bars still operating across the country, with the loss of Blush & Blu, according to its tally.

Persons: Jody Bouffard, Michelle Osterday, Bouffard, we’ve, Brittany Bartges, “, ”, ” Bartges, Blush, Bartges, Blu Organizations: NBC, NBC News, Bar Locations: Colorado, Denver, Boston, Colfax

☆ Patriots safety Jabrill Peppers arrested on assault charges
▼ + stars: | 2024-10-07 | by ( Marc Fortier | Nbc Boston | ) www.nbcnews.com time to read: +1 min

New England Patriots safety Jabrill Peppers was arrested early Saturda on multiple charges, including assault, police said. An investigation ensued, and they said Peppers, 29, was arrested. Police said he will be charged with assault and battery, assault and battery with a dangerous weapon, strangulation and possession of cocaine. The 29-year-old plays safety for the Patriots and is a New Jersey native. “We are aware of an incident involving Jabrill Peppers over the weekend in which the police are currently investigating.

Persons: Jabrill Peppers, Peppers Organizations: New England Patriots, Police, Quincy District Court, Miami Dolphins, Patriots, New York Giants, Cleveland Browns, The Patriots Locations: Braintree, Quincy District, New Jersey, New England

Two Democratic lawmakers are demanding that some of the biggest food and beverage companies stop engaging in “shrinkflation” — the practice of reducing product sizes while charging prices that are the same or higher. Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. President Joe Biden has mentioned shrinkflation numerous times, declaring it a “rip-off” in a video he posted to X. Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News. Dean said the letters were sent to “ease the wrongful burden” the companies are imposing on consumers.

Persons: Sen, Elizabeth Warren of, Madeleine Dean of, Mills, General Mills, Jeff Harmening, James Quincey, “, Ramon Laguarta, Spokespeople, Warren, Dean, ” Warren, ” Sen, Elizabeth Warren, Ting Shen, Joe Biden, Nailya Ordabayeva, ”, ” Ordabayeva, shrinkflation, Doritos, Sarah Gallo, ’ ” Dean Organizations: Democratic, Elizabeth Warren of Massachusetts, Cola, PepsiCo, NBC, North, Retail, CNBC, Gatorade, Republican, Taxation, Economic, “, NBC News, Bloomberg, Boston University Questrom School of Business, Consumer Brands Association, General, Federal Reserve Bank of San Locations: shrinkflation, Washington, Federal Reserve Bank of San Francisco

☆ S&P 500 futures are little changed after stocks pull back to start new week: Live updates
▼ + stars: | 2024-10-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures were little changed on Monday night, following a losing day on Wall Street as rising oil prices and bond yields weighed on markets. S&P 500 futures and Nasdaq 100 futures each also traded near flat. The Dow finished nearly 400 points lower, while the S&P 500 slid close to 1%. Bond yields and prices move inversely to each other. But energy names climbed alongside the commodity, making it the only sector of the 11 that comprise the S&P 500 to finish Monday in the green.

Persons: Bond, Larry Tentarelli, you've, They'll, Susan Collins, Raphael Bostic Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Dow, Treasury, West Texas, Boston Federal, Atlanta Fed Locations: New York City, East, Iran, Israel

Wall Street's top performers are hard workers who tend to work long, intense hours. Business Insider asked its 2024 class of Wall Street stars about how they stay mentally sharp. Here's what we learned about the hacks, habits, and routines that help top talent on Wall Street stay on their game. The routine helps him stay present with his home life as well as work, he added. But I think those two things help me to at least stay recharged and stay ready each day," he said.

Persons: —, Mark Zhu, Craig Kolwicz, Goldman Sachs, Corey White, Nina Gnedin, Blake Cecil, Chi Chen, Robert Sapolsky, Justin Elliott, Read, Palmer Osteen, KKR's, I've, That's, Daniela Cardona, America's White, Ben Carper, it's, there's, Matthew Eid, Holm, Reinhard Dirscherl, Melissa Ding, Wells, Annie Cheslin, she's, Margaret Williams, Morgan Stanley, Williams, Apollo's Austin Anton, Erica Wilson's, deadlifted, Harrison DiGia, Patrick Lenihan, barre, Elizabeth Stone Redding, Stone Redding, Matt Gilbert, Thoma, Gilbert, I'm, Dan, Feroz Khosla, isn't Organizations: Business, Service, Blackstone, Finance, Goldman, of America, Man Group, Productivity, Bridgewater Associates, Bank of America, Fidelity Investments, RBC, Bank, America's, Jefferies, Capital Advisory, Ares Management, Getty, BlackRock, Blue, General Atlantic, JPMorgan Asset Management, TPG, Thoma Bravo, Citadel Securities Locations: Blackstone, Chicago, San Francisco, Coast, Boston, Silicon Valley, New York, I'm, Maldives, he's, Thailand, Central Park

☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

☆ Sen. Elizabeth Warren and Rep. Madeleine Dean demand food and beverage CEOs put a stop to 'shrinkflation'
▼ + stars: | 2024-10-07 | by ( Elizabeth Chuck | ) www.cnbc.com time to read: +7 min

In pointed letters, Sen. Elizabeth Warren of Massachusetts and Rep. Madeleine Dean of Pennsylvania accused General Mills, Coca-Cola and PepsiCo of engaging in a "pattern of profiteering" through shrinkflation and by "dodging taxes." The same with PepsiCo, which "replaced its 32 oz Gatorade bottle with a 28 oz bottle for the same price." Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. President Joe Biden has mentioned shrinkflation numerous times, declaring it a "rip-off" in a video he posted to X. Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News.

Persons: Sen, Elizabeth Warren of, Madeleine Dean of, Mills, General Mills, Jeff Harmening, James Quincey, Ramon Laguarta, Spokespeople, Warren, Dean, Joe Biden, Nailya Ordabayeva, Ordabayeva, shrinkflation, Doritos, Sarah Gallo Organizations: Democratic, Elizabeth Warren of Massachusetts, Cola, PepsiCo, NBC, North, Retail, CNBC, Gatorade, Republican, Taxation, Economic, NBC News, Boston University Questrom School of Business, Consumer Brands Association, General, Federal Reserve Bank of San Locations: Federal Reserve Bank of San Francisco

☆ A couple moved from Virginia to Panama sight unseen. The lower cost of living, stress-free life, and mild weather have made them happier than ever.
▼ + stars: | 2024-10-06 | by ( Monica Humphries | ) www.businessinsider.com time to read: +6 min

AdvertisementOn July 14, 2022, Kelle Sparta and her husband, Jeff Brandon, set foot in Boquete, Panama, for the first time. AdvertisementIn 2018, the couple moved to Richmond, Virginia, from Boston. Boquete, Panama. Kelle SpartaIn 2022, the couple moved sight unseenIn the summer of 2022, the couple arrived in Boquete with six suitcases and their dog. Sparta and Brandon moved into a temporary Airbnb while looking for a permanent home.

Persons: Kelle Sparta, Jeff Brandon, —, she's, lockdowns, Brandon didn't, Brandon, divisiveness, Monica Humphries, Sparta, they're, I'm Organizations: Kelle, Service, Business, Sparta, Friendly Nations, MIT Locations: Boquete, Panama, Sparta, Brandon, Richmond , Virginia, Boston, Virginia, Europe, Portugal, Valencia, Spain, Kelle Sparta, Panamanian

☆ The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed
▼ + stars: | 2024-10-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

“Did the Fed even need to cut rates in September, let alone cut by 50bps (basis points)?” Seema Shah, chief global strategist at Principal Asset Management, wrote in a note on Friday. Second-guessing the Fed isn’t new, of course. Central bank officials themselves note the uncertainty inherent in their work, especially when the economy reaches inflection points. Even Fed officials don’t always agree with the central bank’s actions, such as Fed Governor Michelle Bowman, the lone dissenter to the Fed’s decision to cut rates by half a point in September. ‘This isn’t exact science’Fed officials aren’t shy about admitting that they don’t always have confidence in how the US economy will evolve.

Persons: Washington CNN —, Jerome Powell, Philipp Carlsson, Seema Shah, James Knightley, Powell, don’t, Michelle Bowman, wouldn’t, —, ” Carlsson, Szlezak, “, ” Gina Bolvin Organizations: Washington CNN, Federal Reserve, Boston Consulting, Asset Management, ING, Bolvin Wealth Management Locations: Wall, Washington

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