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☆ Wall Street isn’t buying Trump’s deportation threats or Elon Musk’s spending cut claims
▼ + stars: | 2024-12-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype. Nearly half of the investors anticipate annual immigration will average between 500,000 and 1 million under Trump, according to Goldman Sachs. The Wall Street bank found that more than 20% of investors expect immigration under Trump will be above the pre-pandemic pace of 1 million per year. “Our forecast is only moderately below the pre-pandemic trend because there are legal and logistical limits to executive action,” Goldman Sachs economists led by Jan Hatzius wrote in the report. Just about 10% of investors expect the Musk-led commission will be able to reduce government spending by more than $400 billion a year, Goldman Sachs found.

Persons: Donald Trump, Goldman Sachs, Trump’s, Trump, ” Goldman Sachs, Jan Hatzius, There’s, Elon Musk’s, Musk, Howard Lutnick, ” Musk, Larry Summers, It’s, ” Glenn Hubbard, George W, Bush, it’s, “ Elon Musk, ”, Marc Benioff Organizations: New, New York CNN, Trump, Republican, Elon, Department of Government, Department of Government Efficiency, Social Security, Columbia University’s Business, Economic, of New, Nasdaq Locations: New York, United States, Madison, New York City, of New York, China, Russia

☆ Elon Musk is a showman, not an accountant
▼ + stars: | 2024-11-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The merch will be 🔥🔥🔥”If you need more evidence of how silly this whole thing is, note (as many commentators did online) that the efficiency department is being overseen by two people. On the campaign trail last month, Musk was asked how much he thought he could cut from the nation’s $6.5 trillion budget. Musk would be lucky to find $200 billion in the federal budget, former Treasury Secretary Larry Summers said at the Economic Club of New York on Tuesday. Even Trump joked to House Republicans on Wednesday that he can’t get rid of Musk, a source in the room told CNN. And that means Musk himself, as Tesla’s largest individual shareholder, is $55 billion richer today than he was a week ago.

Persons: Donald Trump, Elon Musk, ”, he’s, Vivek Ramaswamy, ” Trump, Elon, Vivek, Trump, Musk, ments on Organizations: New, New York CNN, bro, “ Department, Government, Ford, United Airlines, Republican Congress Locations: New York, le

☆ Residents alarmed as shoplifting incidents trigger store departures: ‘As a community we can’t allow this to continue’
▼ + stars: | 2023-09-30 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +10 min

“Having Target here helped revitalize East Harlem with hundreds of new jobs, customers and more services to our area. Courtesy Lou MartinsThe retail industry said it is grappling with a particular type of store theft that is more dangerous than petty shoplifting, called “organized retail crime” or ORC. The East River Plaza shopping center in New York City's East Harlem neighborhood. “The East Harlem store could have been doing very high volume in sales but still losing money because of theft,” Cohen said. The Target store in NYC's East Harlem is set to close in October.

Persons: Lou Martins, “ I’ve, ”, Martins, Maria Gonzalez Arrieta, “ We’ve, ” Lou Martins, Alex Abreu, Abreu, “, ” Abreu, it’s, We’ve, Tom Wickman, ” Wickman, “ Abuelitas, ” Xavier Santiago, Santiago Xavier, Santiago, I’ve, Mark Cohen, ” Cohen, Venkatesh Shankar, ” Shankar, Fatih Aktas, Ted Wheeler, ” – CNN’s Matt Egan Organizations: New, New York CNN, Costco, 118th, Target, eBay, Facebook, ”, East Harlem, Blumfeld, The New York Times, New York Police, Walgreens, Business, US Chamber of Commerce, “, Commerce, Community Board, East, Community, Columbia, Texas, Mays Business School, Anadolu Agency, Blumenfeld, CNN, Portland Police Bureau Locations: New York, Manhattan —, New York City, San Francisco, Seattle, Target, Plaza, Harlem, Aldi, Burlington, Pleasant Avenue, East Harlem, NYC's East Harlem, River, Portland

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