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Read previewIn the nine-month war between Israel and Hamas, an unlikely nation has emerged as a key power broker in the Middle East: China. Reconciling the groups with an eye to building a postwar Palestinian government is a diplomatic coup for Beijing, after years of trying to position itself as a power broker in the Middle East. China challenges US might in the Middle EastIn the last few years, China has challenged US influence in the Middle East. In 2023, it helped broker a restoration of diplomatic relations between Iran and Saudi Arabia after decades of proxy conflict. "China also doesn't want to sacrifice much to advance any of its interests in the Middle East," Jon Alterman, an analyst with the Center for Strategic and International Studies, told the US Congress in April.
Persons: , Fatah, Wang Yi, It's, Ali Wyne, Aaron David Miller, Wyne, Jon Alterman Organizations: Service, Hamas, Reuters, Business, PLO, West Bank, Crisis, Palestinian, Center for Strategic, International Studies Locations: Israel, East, China, Beijing, Gaza, Fatah, Washington, Iran, Saudi Arabia, Saudi, States
AdvertisementThe chart below shows a Trump lead based on how users are betting money on an outcome on Predictit's platform. So there's not really any change to tax policy and Trump has been looking to cut taxes further on companies and potentially on individuals as well." AdvertisementInflationWhere inflation is concerned, under a second Trump administration, expect a 10% import tariff on all goods. BondsAdvertisementExpectations for increased deficits, higher inflation, and slower growth have put upward pressure on interest rates over the last few weeks, Goldberg noted. And going forward, it's going to continue to put downward pressure on bond prices and upward pressure on yields, he added.
Persons: We've, Gennadiy Goldberg, Kamala Harris, — Goldberg, Goldberg, there's, Trump, Trump's, it's, Donald Trump Organizations: Service, TD Securities, Business, Republican, Trump, Predictit, Republican House, Democratic, Republicans, Peterson Institute for International Economics, Pew Research Center Trump, Washington, Federal Reserve, Investors Locations: Washington, Mexico, Canada
According to Prasad and other experts, Harris' approach to China would likely be similar to that of Biden. Trump's biggest diversion from Biden-era trade policy would likely be tariffs levied on China. The Trump administration reached a "phase one trade deal" with China in 2019, but few terms were honored and subsequent phases never materialized. Tech warwatch nowThe Biden administration also announced rules limiting U.S. investment in Chinese firms developing sensitive technologies, citing national security concerns. She said channels for the two countries to discuss policy issues decreased significantly during the Trump administration, whereas the Biden administration emphasized its diplomatic engagement efforts.
Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Joe Biden, Eswar Prasad, Kamala Harris, Biden, Prasad, Harris, Biden —, Stephen Weymouth, Economist Stephen Roach, William Reinsch, Scholl, Reinsch, JD Vance, Arthur Dong, Chris Miller, Miller, Rorry Daniels Organizations: Van, Getty, House, CNBC, U.S, Cornell University, Trump, International Monetary, Georgetown University, Economist, Center for Strategic, International Studies, Beijing, Georgetown, Tech, Asia Society Policy Institute Locations: Grand Rapids , Michigan, China, Beijing, Ohio, Washington, U.S, Japan, Netherlands
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacro economics still a bigger factor for markets than politics: Wealth managerBrooke May of Evans May Wealth says while politics has created additional market volatility, it still takes a back seat to macro factors like interest rates and unemployment, and adds that a second Trump administration could have inflationary outcomes.
Persons: Brooke May, Trump Organizations: Evans
Research shows that young adults are the unhappiest age groupBlanchflower's most recent working paper, co-authored with Alex Bryson and Xiaowei Xu, shows a change in the pattern, with happiness starting off low in young adulthood and increasing with age. Alongside other researchers, Blanchflower analyzed data from the Centers for Disease Control and Prevention's Behavioral Risk Factor Surveillance System. But Wimsatt Childs agrees with Blanchflower that social media likely plays a role in this new pattern of unhappiness. "What social media has done in a lot of ways is it has amplified concerns that were already well underway," she says. Social media — apps like Snapchat, Instagram and TikTok — floods people with information and can lead to comparison among peers on a larger scale, she adds.
Persons: David Blanchflower, Blanchflower, Alex Bryson, Xiaowei Xu, Amber Wimsatt Childs, Wimsatt Childs, I'm Organizations: Dartmouth College, Research, Scientific, Centers for Disease Control, Yale School of Medicine Locations: U.S
You can keep money in a bank account during a recession and it will be safe through FDIC and NCUA deposit insurance. Up to $250,000 is secure in individual bank accounts and $500,000 is safe in joint bank accounts. If you're concerned about whether money is safe in a bank during a recession, there's good news — your money will be likely secure in a bank account. Savings accounts, checking accounts, money market accounts, and CDs are examples of federally insured bank accounts. Up to $250,000 is secure in individual bank accounts, and $250,000 is protected per owner in joint bank accounts.
Persons: they're, Jeffrey Miron, Miron, Charles Calomiris, Maggie Gomez, Maggie, Gomez, You'll, Banks Organizations: FDIC, Pew Research, Federal Deposit Insurance Corporation, Harvard University, Columbia Business School, National Credit Union Administration, Bank, doesn't Locations: U.S, United States, Chevron
Harris' visit, following the attempted assassination of former President Trump, makes this her fourth trip to Michigan this year and seventh visit since taking office. However, Harris voiced some distinctions from Biden before becoming vice president, Watson noted. The vice president plans to bring more relief to borrowers, they said. Harris proposed repealing the Trump tax cuts to pay for it. — Jessica DicklerHousingHarris has been a proponent for affordable housing policies both during her tenure as vice president and as senator.
Persons: Kamala Harris, Trump, Olivia Troye, Amanda Stratton, Harris, Chris duMond, Chris Dumond, Biden, Garrett Watson, Watson, — Kate Dore, Drew Altman, Altman, She'd, Fatima Goss Graves, Roe, Wade —, Greg Iacurci, Pell Grant, Joe Biden, Miguel Cardona, Annie, Laura Veldkamp, Veldkamp, — Jessica Dickler, May, — Ana Teresa Solá Organizations: Getty, Tax, Tax Foundation, Biden, — Kate Dore Health, Affordable, Medicaid, National Women's Law, CNBC, Current U.S . Department of Education, Corinthian Colleges, U.S . Department, Corinthian, Columbia University Business School, U.S . Department of Housing, Urban Locations: KALAMAZOO , MICHIGAN, Kalamazoo , Michigan, Michigan, North Carolina, California, U.S
It was the top box office film of the year, earning $1.4 billion worldwide, and it became Warner Bros.’s highest-grossing film ever, outpacing both “Dark Knight” movies, “Wonder Woman” and every chapter in the “Harry Potter” franchise. It was a DayGlo-pink rebuttal to decades of conventional Hollywood thinking, and its success seemed to herald a new paradigm for the film industry. Movies written and directed by women and focused on female protagonists could attract enormous audiences to multiplexes around the world. Yet in the 12 months since the movie’s release, little has changed in Hollywood. The box office is down 17 percent from last year at this time, and studios spooked by a fickle audience (yes to “Twisters,” no to “Fall Guy”) are again questioning the reliability of the theatrical marketplace.
Persons: “ Barbie ”, Harry Potter ”, Guy ”, Barbie ”, Greta Gerwig, Margot Robbie Organizations: Warner Bros, Films, University of Southern California’s, Hollywood Locations: Hollywood
As the frontrunner for the Democratic party's nomination, Kamala Harris will have to run, for better or worse, on President Joe Biden's economic record. It will be just one challenge Harris will have to overcome to defeat her Republican opponent, former President Donald Trump . Despite historically low unemployment and macro growth that has defied long-held expectations for recession, the economy is Biden's soft spot. "I don't see a lot of daylight between her views on economic policy and those of the administration," said Mark Zandi, chief economist at Moody's Analytics , a Democrat who has advised administrations of both parties. Possible change at the Fed One area of difference between Biden and Harris could be a crucial one — the Federal Reserve.
Persons: Kamala Harris, Joe Biden's, Biden, Harris, Donald Trump, She's, Greg Valliere, she's, There's, Mark Zandi, Zandi, nonfarm, Joseph LaVorgna, Biden's, Trump, Jerome Powell, Powell, reappoint Powell Organizations: Democratic, Biden, Republican, AGF Investments, Reuters, Moody's, Democrat, Economic Council, Nikko Securities, Federal Reserve, Senate, Beacon, Advisors Locations: California
Democrats vs. Republicans: Who's better for the economy?
  + stars: | 2024-07-22 | 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 EmailDemocrats vs. Republicans: Who's better for the economy? Stephen Moore, Heritage Foundation senior visiting fellow and economic advisor to former President Trump, and Ernie Tedeschi, The Budget Lab at Yale Law School director of economics and former White House CEA chief economist under President Biden, join 'Squawk Box' to discuss whether Democratic or Republican policies would be best for the American economy over the next four years.
Persons: Who's, Stephen Moore, Trump, Ernie Tedeschi, Biden Organizations: Heritage Foundation, Yale Law School, White House CEA, Democratic
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I didn't even know what a ghostwriter was or if there was a business for it. Working with successful people usually means they're extremely busy, so sometimes we have to wait for them to find time for everything. Sometimes the interview process can be difficult for clientsWhen we address topics like trauma and relationships, it can be a lot for the client to process. AdvertisementVery often, as they go through the interview process, they become more comfortable talking about difficult things later on.
Persons: , Loren Stephens, I'm, It's, We'll, Al Azus, Aki Gonzalez Aleong, Jeff Margolis, Barbara Walters, I've, Leo Daughtry, Lauryn Haas Organizations: Service, Business, North Carolina State Rep, lhaas@businessinsider.com Locations: Los Angeles, Boston, North Carolina, I'm, LA
CNN —President Joe Biden’s decision to end his reelection bid and endorse Vice President Kamala Harris to replace him in the campaign has upended the presidential race and shined a renewed spotlight on Harris. Harris is the first woman to become vice president, as well as the first Black or Asian American person to hold the office. One-year-old Kamala Harris, right, with her mother Shymala Gopalan Harris. Archivio GBB/contrasto/ReduxIn 1982, Harris enrolled at Howard University, a historically Black university in the heart of Washington, DC. The couple met on a blind date and Harris later joked in her memoir that her staffers referred “to that era as A.D. – ‘After Doug.’”Emhoff is the nation’s first second gentleman.
Persons: Joe Biden’s, Kamala Harris, Harris, California’s, Kamala Devi Harris, ” Harris, Shymala Gopalan Harris, Archivio, Donald, Shyamala Gopalan Harris, , , Kamala, Biden’s, Beau, , Doug Emhoff, Doug, , Barbara Davidson, California Sen, Barbara Boxer, Barack Obama, Biden, Donald Trump, I’ve Organizations: CNN, Democratic, University of California, Stanford, Berkeley, Howard University, Alpha Kappa Alpha, Black, , Oakland’s Alameda, American, Los Angeles Times, Committee, Intelligence, White House, South, White Locations: Oakland , California, United States, Jamaica, Berkeley, India, Berkley, Washington, DC, California, University of California Hastings, America, Oakland’s Alameda County, San Francisco, Los Angeles, South Asian
Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond. How low demand can cause a housing market crashA sudden drop in homebuying demand can lead to a housing market crash. What a housing market crash would mean for homebuyersAnything is possible, and nobody has a crystal ball to see for certain what will happen in the housing market in the coming months and years. Preparing for a potential housing market crashRight now, you probably don't need to be preparing for the housing market to crash. Housing market crash FAQsWhat are the key signs of an impending housing market crash?
Persons: homebuyers, Fannie Mae's, Lawrence Yun, Yun, isn't Organizations: Housing Survey, National Association of Realtors, Housing Locations: exurbs, Chevron
Today, there are 55 Hispanic American banks and credit unions that are FDIC or NCUA insured around the United States. Nave BankBranches: 0 (online-only)ATMs: 0Services: savings accounts, business banking, business loansNave Bank is currently only available for businesses, and has a waitlist to join. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2023. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. Results from the study found that Hispanic Americans made up a greater percentage of those who took out home loans or small business loans at Hispanic American banks in comparison to non-minority banks.
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International Bank of Commerce, International Bank of Commerce, Edinburg Teachers Credit, Falcon International, Habitat, Humanity, South Texas Food Bank, Laredo WBCA, Freedom Bank, GECU Credit Union, GECU Foundation, Gulf, Gulf Coast Federal Credit Union, Commerce Bank, Zapata, Laredo Federal Credit Union, Stripes Stores, Lone Star National Bank, First, Rally, Chase Bank, River City Federal Credit Union, Rio Grande Valley Credit Union, Naft Credit Union Services, SecurityFirst Credit Union, Southwest Heritage Credit, Wink, Texas, Mission, Virgin Islands Popular Bank, DC, Global, Finance, FDIC, National Credit Union, Hispanic, American, Banco Popular de Puerto Rico, Chevron, Federal Reserve Bank of Dallas, Progress, University of Wisconsin, Whitewater, Economic Research, River City Credit Union, UCLA, Politics, Inclusiv Network Locations: Puerto Rico, U.S, U.S . Virgin Islands Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho, U.S . 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Read previewRussia and China are trying to compete with the US for influence in Latin America, according to the US Southern Command commander. Kevin Riehle, a former FBI counterintelligence officer, told BI last December that Russia was using South America to obtain fake identities for its spies. AdvertisementDaniel P. Erikson, deputy assistant secretary of defense for the Western Hemisphere, also warned of Chinese and Russian threats in Latin America at an Atlantic Council event in February. Latin America, in the post-Cold War era, has not seen major wars, the prospect of nuclear weapons, or US rivals seeking to establish military bases and alliances directly, he said. "Nonetheless, the economic needs of Latin America and weak governance in many cases have opened the door for predatory, non-transparent deals, particularly with the PRC, which has expanded its influence," he said, using the initials of the People's Republic of China.
Persons: , Laura J, Richardson, Vyacheslav Volodin, Craig Faller, Kevin Riehle, Daniel P, Erikson, Evan Ellis, Ellis Organizations: Service, US Southern Command, Aspen Security, Initiative, Business, Russian, Institute for, West . Belarus —, US Special Operations Command, FBI, Strategic, International Studies, Atlantic Council, US Army, Strategic Studies Institute, Southern Command Locations: Russia, China, Latin America, Colorado, America, Nicaragua, Cuba, Venezuela, West . Belarus, Belarus, South America, Washington, DC, Caribbean, East, Ukraine, People's Republic of China, Iran, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's idea of replacing income tax with tariffs is 'impossible mathematically,' analyst saysKimberly Clausing, non-resident senior fellow at the Peterson Institute for International Economics, says his plan is "worrisome."
Persons: Kimberly Clausing Organizations: Peterson Institute for International Economics
Several European nations have reintroduced or expanded compulsory military service amid Moscow’s mounting threat, part of a range of policies aimed at boosting defenses that are likely to be scaled up even further. Compulsory military service was reintroduced on January 1 this year, after being abolished in 2006. In the UK, the Conservatives floated the idea of military service in their ill-fated election campaign. In Lithuania, for instance, opinions about military service among students vary, said Paulius Vaitiekus, president of Lithuania’s National Students’ Union. However as an alliance we do not prescribe mandatory military service,” Dakhlallah said.
Persons: , Robert Hamilton, Vladimir Putin “, Wesley Clark, we’ve, Clark, , Arturs Pīlācis, Ints Kalnins, Jonas Gahr Støre, Jens Bartnes, ” Bartnes, Max Henrik Arvidson, Boris Pistorius, Thomas Frey, Sean Monaghan, Paulius Vaitiekus, Vaitiekus, Monaghan, Hamilton, it’s, ” Radebo, Mikael Sjoberg, Russia’s, Farah Dakhlallah, Dakhlallah, ” Dakhlallah, ” Monaghan, Donald Trump –, ” Clark Organizations: CNN, Foreign Policy Research Institute, US Army, Allied, Europe, NATO, ” Latvian, Reuters, European Union, Conservatives, Federal, of Defense, Eurasia Program, Center for Strategic, International Studies, Lithuania’s, ’ Union, Finnish Defence Forces, Swedish Armed Forces, Marinette, Ministry of Defense, Bloomberg, Getty Locations: Russia, Ukraine, Kyiv, Europe, Eurasia, Kosovo, Scandinavia, Latvia, , Riga, Norway, Norwegian, Germany, B'chel, Lithuania, Ukrainian, NATO, Finland, Soviet Union, Sweden, NATO’s, Swedish, Gotland, Visby, Moscow, Crimea
The Republican convention, which provided a portfolio of memorable (or at least memeable) images, was borne on a typhoon of words. But politics doesn’t speak only the language of policy and platitude. AgainWhen the MAGA movement was born during the 2016 campaign, it was possible to wonder about the specific meaning of the last word. When had America been great, or not been great or stopped being great? On the last night, the original formula was tweaked to “Make America Great Once Again,” which doesn’t yield an easily pronounceable acronym (MAGOA?)
Persons: , ” “, , Trump, MAGA, Donald Trump Organizations: Republican Locations: American, Milwaukee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReplacing taxes with tariffs: Breaking down Trump's tariff-for-tax cuts planJason Furman, Harvard’s Kennedy School of Government economics professor and former CEA chairman, and EJ Antoni, Heritage Foundation economist, join 'Squawk Box' to discuss former President Trump's tax plan, replacing taxes with tariffs, impact on the economy, and more.
Persons: Jason Furman, EJ Antoni, Trump's Organizations: Harvard’s Kennedy School of Government, Heritage Foundation
While it offered few clues on how to tackle economic difficulties, the meeting did provide further insight into a shake-up of high-level personnel over the past year. If past sessions are a guide, a more detailed report may be released in the following days, but for now, “the plenum communique is light on specifics,” Evans-Pritchard added. That came days after China released disappointing economic data for the second quarter of this year. Analysts say that the coming months could offer more details on how Xi plans to revive the economy. Emphasizing short-term economic policies is rare in the history of the third plenums, said Larry Hu, chief China economist for Macquarie Group.
Persons: Hong Kong CNN — China’s, Xi Jinping, Xi, , Julian Evans, Pritchard, Qin, Li Shangfu, Li Yuchao, Jinming, Evans, , ” Evans, Mao, Larry Hu Organizations: Hong Kong CNN, Communist Party, Capital Economics, Central, Defense, Liberation Army Rocket Force, of America, National Bureau, Statistics, Analysts, Macquarie Group Locations: Hong Kong, party’s, Beijing, China, policymaking, outflows, United States, Mao China
When the Biden administration laid out a suite of plans this week to address housing affordability, it added a bold update to previous proposals — and sent the housing industry and the economics world buzzing. The White House called on Congress to pass legislation giving “corporate landlords” — defined by the White House as those with over 50 rental units — a choice to cap annual rent increases on existing units at 5 percent annually or lose federal tax breaks based on property depreciation. The proposal is expected to go largely unaddressed this year, with Congress in campaign mode. Tenant organizations and progressive leaders generally allied with the administration’s economic team cheered the news. Yet a range of economists, Wall Street analysts, real estate groups and landlord associations responded with forceful critiques, assailing the limits as counterproductive.
Persons: Biden, ” — Organizations: White, Wall Street
To reread "Hillbilly Elegy" now, as I did this week, is to feel a sense of disorientation. JD Vance the author sounds a lot different than JD Vance the politician. Personally, I first read "Hillbilly Elegy" in college, in an earnest if somewhat contrived attempt to better understand communities unlike mine. On stage, he recounted a story that also appears in "Hillbilly Elegy," where Mamaw bluntly threatens violence against one of Vance's friends. There are hints of this in "Hillbilly Elegy" as well: He served as a public affairs Marine, where he was trained in the art of media relations, including "how stay on message."
Persons: JD Vance, It's, Vance, Donald Trump's, Trumper, Trump, I've, who's, Vance didn't, JD, Alex Wong, Mamaw, Mom, Brett Kavanaugh, there's, New York Times's Ross Douthat, There's, he's, Usha, Mike Johnson, Kamil Krzacynski, — Vance Organizations: Service, Republican, audience's, Democratic, Capitol Hill, Republican National Convention, Supreme, New, GOP, Marine, Yale Law School, Getty Locations: Ohio, Middletown , Ohio, Appalachia, Middletown, Washington, New York, Ukraine, AFP
Nvidia plans to reveal examples of how its end-customers are making money on AI chips, according to Goldman Sachs. Goldman Sachs expects Nvidia to once again beat earnings estimates when it reports in late August. That's according to a Monday note from Goldman Sachs, which details key takeaways from a recent meeting with Nvidia CFO Colette Kress. AdvertisementHowever, according to Goldman Sachs, Kress said that Nvidia plans to highlight the profits its end-users are generating from the growing use of its AI-enabled GPU chips. Overall, Goldman Sachs said it is confident Nvidia will deliver a positive earnings surprise that leads to positive EPS revisions when it reports results next month.
Persons: Goldman Sachs, , That's, Colette Kress, Kress, Blackwell Organizations: Nvidia, Service, Bank of America, Meta, Blackwell, Goldman, Software Locations: FY4Q
"It's a very momentum-driven market," said Ben Klein, the cofounder at the record label and music-marketing firm Hundred Days. Still, for some artists, albums can be a useful tool for marketing, streaming economics, and nourishing their biggest fans. "If you're capturing all of your fans and the fans are streaming 10 songs or they're streaming 30 songs, it actually makes a big difference on charting and streaming revenue." AdvertisementOf course, writing lots of quality songs for an album is easier said than done. And some artists are wary of letting social-media strategies or streaming incentives bleed into the creative process.
Persons: Charli XCX, cheekily, Taylor Swift, Nima Nasseri, Morgan Wallen's, Beyoncé, Cowboy Carter, Swift, Nathan Hubbard, Billie Eilish, Ben Klein, superfans, David O'Connor, Z, Steve Jobs, Robert Fink, Charlie Green, YouTuber, Taylor Lindsey, Brian Zisook, Audrey Benoualid, Myman Greenspan, Ariana Grande, Tate McRae, Judah, Judah Akers, Superfans, Marie Clausen, Akers, Dan Whateley Organizations: Universal Music Group, Poets Department, Nation Entertainment, Napster, iTunes, Herb Alpert School of Music, Sony Music Nashville, Lion, RIAA, Business
Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. "So this is not going to be a sustainable driver of growth for China." China's exports to the U.S. rose by a modest 1.5% in the first half of the year. Citi forecasts 5.0% growth in real GDP growth for China this year. UBS forecasts 4.9% growth for China's economy this year.
Persons: Xi Jinping, Donald Trump, Artyom Ivanov, Goldman Sachs, Trump, JD Vance, Hui Shan, CNBC's, Janet Yellen, Vance, Biden, Mike Pence wouldn't, MAGA, Lin Jian, Goldman's Shan, Shan, Tao Wang Organizations: TASS, Getty, BEIJING, U.S, European, Citi, Fox News, Trump, Capitol, China's Ministry of Foreign Affairs, CNBC, UBS Investment Bank, UBS Locations: Beijing, China, U.S, European Union, Asia, Ukraine
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