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☆ There are 3 ways Donald Trump can reduce the risks from America's soaring debt, Pimco economist says
▼ + stars: | 2024-12-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Trump administration promised to reduce the US deficit to 3%. How Trump approaches his tax cut plans will matter, a Pimco economist wrote in the Financial Times. Washington's ballooning debt has prompted a lot of fear among economists and market experts, but there are ways Donald Trump's incoming administration can mitigate the impact. Doing so could yield $100 billion to $400 billion in national savings over the coming decade. Meanwhile, she cited that addressing inefficiencies in healthcare and defense could save Washington $400 billion to $500 billion annually.

Persons: Trump, Donald, Tiffany Wilding, doesn't, Wilding, Joe Biden's, Elon Musk, Vivek Ramaswamy — Organizations: Financial Times, Trump, Congressional, Washington, Government, Republican Locations: Washington, Republican Congress

☆ There's one final way Biden can fund Ukraine's fight against Russia, researchers say
▼ + stars: | 2024-12-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The Biden administration should seize Russia's frozen assets held by the US, two researchers say. President Joe Biden's final move to help Ukraine should be to seize Russia's reserve assets held by the US before the start of Donald Trump's second term, two researchers wrote this week. "Saudi Arabia, for example, has threatened to sell its European debt holdings if Europe seizes the frozen assets." The US wouldn't be completely alone in doing so — both Canada and the United Kingdom appear willing to seize assets held in their countries. Russia has warned of retaliation if its frozen assets are seized, cautioning that it could seize Western-owned corporate assets still in the country.

Persons: Biden, Joe Biden's, Donald Trump's, Trump, Joe Biden, Maximilian Hess, Carey K, Mott, Hess, Hungary's, Janet Yellen Organizations: Policy Research Institute, Yale Program, Kremlin, Kyiv, Seven, Russia, European, Western, Bloomberg Locations: Europe, Ukraine, United States, Moscow, Saudi Arabia, Germany, Canada, United Kingdom, Russia

Saydnaya, Syria CNN —As Syrians rejoiced across the country this week, many began the frantic search for missing loved ones who had been forcibly disappeared under Bashar al-Assad’s brutal dictatorship. Crowds have descended on the notorious Saydnaya prison, which had become synonymous with arbitrary detention, torture and murder. People gather at the Saydnaya prison near Damascus, Syria, on December 9, 2024. For the sake of Allah, help them.”A long traffic jam as people gathered at the Saydnaya prison in Syria on December 9, 2024. People wait as the volunteer group Syrian Civil Defense investigated the inside of Saydnaya Prison after the fall of the Assad regime in Syria on December 9, 2024.

Persons: Bashar al, Omar Haj Kadour, Assad, Saydnaya, “ Allahu Akbar ”, Maysoon Labut, Labut, ”, “, Allah, they’d, Mounir Al, Fakir, Anagha Subhash Nair, Suheil Hamawi, ” Hamawi, “ I’ve, ’ ” Hamawi Organizations: Syria CNN, Getty, Amnesty, CNN, Syrian Civil Defense, Anadolu, AFP Locations: Saydnaya, Syria, Damascus, AFP, Russia, Dara’a, Syrian, Lebanese, Chekka

☆ Computer science grads say the job market is rough. Some are opting for a 'panic' master's degree instead.
▼ + stars: | 2024-12-09 | by ( Jaures Yip | ) www.businessinsider.com time to read: +10 min

Recent graduates told BI they have sent hundreds of job applications with little response. Some are choosing to pursue a "panic master's" degree to delay their job search. AdvertisementA computer science degree has become an increasingly popular choice for students seeking a six-figure job in Big Tech out of college. According to data from PayScale published last year, employees with a master of science degree make an average base salary of $112,000, compared to $72,000 for those with a bachelor's degree in computer science. "It just might not be a cushy tech job that all of us have been raised to think about."

Persons: Parvatini, Yahya Bashir, Gustavus Adolphus, Bashir, Emos Ker, Ker, " Ker, it's, David Garlan, they're, Ian Hurrel, Hurrel, PayScale, Sydney Bishop, Bishop, Samuel Onabolu, Onabolu Organizations: Penn State University, Big Tech, ADP Research, Gustavus, Gustavus Adolphus College, New York University, Carnegie Mellon, Columbia, CS, Carnegie, of Graduate Schools, Georgia Institute of Technology, Burning Glass Institute, Sydney, UC Irvine, Google, Microsoft, US Bureau of Labor Statistics, Brock University Locations: Big Tech

☆ Read the full transcript: President-elect Donald Trump interviewed by "Meet the Press" moderator Kristen Welker
▼ + stars: | 2024-12-08 | by ( ) www.nbcnews.com time to read: +111 min

PRESIDENT-ELECT DONALD TRUMP:No, no —KRISTEN WELKER:And there’s no —PRESIDENT-ELECT DONALD TRUMP:He can’t deny it. KRISTEN WELKER:We’re going to —PRESIDENT-ELECT DONALD TRUMP:For what they did —KRISTEN WELKER:Yeah —PRESIDENT-ELECT DONALD TRUMP:– honestly, they should go to jail. PRESIDENT-ELECT DONALD TRUMP:For what they did —KRISTEN WELKER:Everyone on the committee you think —PRESIDENT-ELECT DONALD TRUMP:I think everybody —KRISTEN WELKER:– should go to jail? PRESIDENT-ELECT DONALD TRUMP:We’re talking about --KRISTEN WELKER:You won’t touch Medicare --PRESIDENT-ELECT DONALD TRUMP:– theft --KRISTEN WELKER:– Social Security? KRISTEN WELKER:But you --PRESIDENT-ELECT DONALD TRUMP:I want to stop--KRISTEN WELKER:– have talked about --PRESIDENT-ELECT DONALD TRUMP:Let me tell you what --KRISTEN WELKER:– the other world leaders.

Persons: KRISTEN WELKER, Donald Trump, DONALD TRUMP, Grover Cleveland, we’re, we’ll, We’re, Pete, He’s, Pete Hegseth, “, you’re, ”, “ I’m, there’s, ” KRISTEN WELKER, Decker, AutoZone, it’s, Covid, Jim Jordan, they’re, would’ve, I’ll, Justin Trudeau, Xi, Biden, I’ve, Will, Jerome Powell, –, You’ve, who’s, we’ve, — KRISTEN WELKER, they’ve, should’ve, Tom Homan —, Tom Homan, you’ve, —, David Muir, David, Kristen, Obama, We’ll, They’re, I’m, John McCain, Collins, — it’s, “ That’s, could’ve, Obamacare, Kate Britt, Roe, Wade, Joe Biden, Kash Patel, Hillary Clinton, Bill Barr, Christopher Wray, Pam, Pam Bondi, Kash, that’s, Trey Gowdy, he’s, Joe Biden —, Jack Smith, Don’t, You’re, Trump, Russ Vought, Brendan Carr, Peter Navarro, John Ratcliffe, Pete Hoekstra, Monica Crowley, let’s, Let’s, Hunter, “ Sir, Everything’s, Fani Willis, Fani, It’s, Alvin Bragg, Letitia James, Liz Cheney, Adam Schiff, Anthony Fauci, Biden doesn’t, Cheney, Kamala, Thompson, Nancy Pelosi, Sir, Bennie Thompson, Ray Epps, “ You’re, who’ve, Tulsi Gabbard, Bashar al, Assad, Putin, Xi of, Kim Jong, Oz, Elon Musk, Jeff Bezos, Mary Barra, Mark Zuckerberg, Vivek Ramaswamy, “ You’ve, Israel wouldn’t, Ukraine would’ve, Russia’s, Ukraine’s, Biden should’ve, aren’t, Netanyahu, Jack, don’t, couldn’t, Joe, she’s, Ivanka, She’s, she’d, “ Don’t, “ don’t, Lara, Michael, George Stephanopoulos, MAGA, There’s, McLaughlin, Fabrizio, “ George Washington, Abraham Lincoln, hasn’t, It’s — KRISTEN WELKER, Russia wouldn’t Organizations: Press, Republicans, Trump, Harvard, Fox, America, United, United States ’, Walmart, Black, Biden, Whirlpool, Canada, Mar, White, Federal Reserve, Democrats, FBI, ”, Capitol, Department, “, Republican Party, Truth, Justice Department, DOJ, NBC, National Guard —, D.C, CNN, —, Defense Department, National Intelligence, RFK Jr, Autism, Elon, Electoral, Electoral College, Government, Social Security, Medicaid, Security, NATO, U.S ., Service, Exxon, Republican National Committee, Republican, ISIS Locations: America, they’re, Princeton, Fox, United States, China, Canada, Mexico, Ohio, South Korea, Canadian, California, Mississippi, Alabama, New York, Liberty, Venezuela, Colorado, San Diego , California, United States of America, Russia, Hague, Florida, Mar, —, Manhattan, Antifa, Portland, Portland . Seattle, Seattle . Seattle, . Minneapolis, Minneapolis, ”, Xi of China, Hunter, Ukraine, Europe, East, Gaza, Taiwan, U.S, TikTok, UN, It’s, Syria, Afghanistan

☆ Meet the Press – December 8, 2024
▼ + stars: | 2024-12-08 | by ( ) www.nbcnews.com time to read: +64 min

ANNOUNCER:From NBC News in Washington, the longest-running show in television history, this is a special edition of Meet the Press with Kristen Welker. KRISTEN WELKER:We’re going to —PRES.-ELECT DONALD TRUMP:For what they did –KRISTEN WELKER:Yeah –PRES.-ELECT DONALD TRUMP:– honestly, they should go to jail. PRES.-ELECT DONALD TRUMP:For what they did –KRISTEN WELKER:Everyone on the committee you think –PRES.-ELECT DONALD TRUMP:I think everybody –KRISTEN WELKER:– should go to jail? KRISTEN WELKER:But you --PRES.-ELECT DONALD TRUMP:I want to stop--KRISTEN WELKER:– have talked about --PRES.-ELECT DONALD TRUMP:Let me tell you what --KRISTEN WELKER:– the other world leaders. PRES.-ELECT DONALD TRUMP:We're talking about --KRISTEN WELKER:You won't touch Medicare --PRES.-ELECT DONALD TRUMP:– theft --KRISTEN WELKER:– Social Security?

Persons: KRISTEN WELKER, Donald Trump, PRES, DONALD TRUMP, Joe Biden, he’s, Carol Lee, “ Playbook ”, Eugene Daniels, Marc Short, Mike Pence, Jen Psaki, Kristen Welker, Grover Cleveland, Decker, AutoZone, it's, Covid, Justin Trudeau, Jerome Powell, Will, –, You've, Biden, who's, We're, they’re, we've, – KRISTEN WELKER, they've, should've, Tom Homan – PRES, Tom Homan, you've, I've, John McCain, Collins, would've, – it's, That's, could've, Obamacare, we're, Roe, Wade, I'm, Trump, Pete Hegseth, Kash Patel, he's, Hillary Clinton, Bill Barr, Christopher Wray, Pam, Pam Bondi, Kash, that's, Trey Gowdy, “, Joe Biden – PRES, We'll, Jack Smith, I’m, ”, Hunter, Everything's, Fani Willis, Fani, Adam Schiff, Anthony Fauci, Liz Cheney, Cheney, Bennie Thompson, We’re, – PRES, Assad, Putin, Israel wouldn't, Ukraine would've, Russia's, Ukraine's, Biden should've, Elon, Trump's, Vivek Ramaswamy, Elon Musk, You’re, couldn't, Joe, MAGA, There's, McLaughlin, Fabrizio, George Washington, Abraham Lincoln, It’s – KRISTEN WELKER, Politico Playbook, Carol, It's, CAROL LEE, Kristen, they'll, Eugene, EUGENE DANIELS, “ Bennie Thompson, Marc, Johnson's, Trump isn't, JEN PSAKI, Kamala would've, He's, she's, Jen, he'd, Vladimir Putin, Tulsi Gabbard Organizations: Capitol, NBC, Staff, White House Press, Press, Trump, Walmart, Black, Biden, Canada, Mar, Federal Reserve, Democrats, Department, FBI, Truth, Mr, NATO, SpaceX, Government, Social Security, Medicaid, Justice Department, White, Service, America, Politico, Republican, MARC, Republicans, QAnon, Dreamers, Democratic, Ukraine Locations: PRES, Washington, New York, United States, China, Canada, Mexico, Canadian, Liberty, Venezuela, Colorado, Colorado . PRES, America, United States of America, Hegseth, Russia, Hague, Florida, Mar, Damascus, Ukraine, NBCNews.com, Syria

Trump and allies routinely highlighted acts of violence committed by undocumented immigrants to bolster their case. Trump also described scenarios in which U.S. citizens may choose to be deported along with family members in the country illegally. So I’m talking about parents who might be here illegally,” Welker said, “but the kids are here legally.”“I don’t want to be breaking up families,” Trump said. “We’ll send the whole family very humanely, back to the country where they came.”“So no more family separations?” Welker asked. “You’re not reviving the zero-tolerance policy?”“It depends on the family,” Trump said, adding later: “If they come here illegally but their family is here legally, then the family has a choice.

Persons: Donald Trump, Kristen Welker, “, Trump, —, ”, ” Trump, Welker, Joe Biden’s, Tom Homan, ” Welker, “ We’ll, “ You’re, they've Organizations: “, Press, National Institute of Justice, U.S, Library of Congress, Democrats Locations: United States, U.S, Mexico, Texas, America, Canada, Brazil

☆ 4 people who bought and sold homes without a traditional real-estate agent break down how and why they did it
▼ + stars: | 2024-12-07 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +9 min

Some predicted more people would forego hiring traditional real-estate agents for their deals. AdvertisementA 2023 court ruling against the country's biggest association of real-estate agents was expected to transform how Americans buy and sell homes. The majority of Americans hire a traditional real-estate broker to facilitate their transactions. Read on to hear from the four people who bought or sold homes this year via big companies or real-estate startups instead of a traditional agent. According to Kenneth Bloom, who's already sold two properties with Redy, the savings are significant compared to using a traditional real-estate agent.

Persons: brokerages, RISmedia, Redfin, it's, Chelsea Hutchison, Read, Hutchison, Melissa Gonzales, Opendoor, Josh Altman, Redy, Kenneth Bloom, who's, Bloom, he's, —, Sergio Rodriguez, Rodriguez, they'll, TurboHome Organizations: National Association of Realtors, Business, NAR, Opendoor, Realtors Locations: homebuyers, Canby , Oregon, Vegas, Waterford , Michigan, West Bloomfield , Michigan, Atlanta, Dallas, Orlando, Phoenix, San Diego, California, California , Texas, Washington

☆ What to expect from the November jobs report: A massive bounce back from October’s dismal total
▼ + stars: | 2024-12-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

“Which suggests that the labor market is still doing quite well,” Faucher said. That beat economists’ expectations of 7.5 million job openings for October, according to consensus estimates from FactSet. Layoff announcements, jobless claims tick higherThe weekly jobless claims data also is telling another story about the labor market: Employers have pulled back on hiring. “Overall, we still have got a tight labor market and we see that layoffs are historically low right now,” Faucher said. However, the coming weeks and months could shift the narrative for the labor market, inflation and the overall economy.

Persons: CNN —, “, ‘, Dan, Gus Faucher, ”, ” Faucher, they’re, Claudia Sahm, Jerome Powell, Donald Trump, ” Brett Ryan, — Organizations: CNN, Bureau of Labor Statistics, Labor Statistics, Dan North, Allianz Trade’s, North, PNC Financial Services Group, Labor, Department of Labor, Employers, New Century Advisors, Federal Reserve, Deutsche Bank, BLS Locations: North America, FactSet

☆ AI startups are snatching up San Francisco offices, using Zoom fatigue to recruit talent
▼ + stars: | 2024-12-06 | by ( Salvador Rodriguez | ) www.cnbc.com time to read: +9 min

Mithrl is among a wave of startups coming back to San Francisco and working in person four days or more each week. Noah Jackson, 27, and his colleagues at Tako, a San Francisco startup that works in person four days a week. Courtesy: TakoOverall, the San Francisco office market remains tepid, with the vacancy rate climbing to 34.9% in the third quarter from 29.4% a year ago, according to data from Cushman & Wakefield. How quickly the broader market bounces back depends largely on the decisions made by huge San Francisco tenants like Salesforce and Google . The pair moved to San Francisco for the nucleus of talent and because they believe in the future of the city, Adarsh said.

Persons: Noah Jackson, Jackson, We're, Alex Rosenberg, Rosenberg, Liz Hart, Newmark, Hart, Zach Tratar, Tratar, we're, " Hart, There's, Mithrl, Vivek Adarsh, Adarsh, Michelle Lee, Vonne Hutchinson, Hutchison, Hutchinson, Lee Organizations: Tako, San, Cushman &, Sierra, Google, University of California, Hacker Locations: San Francisco, Tako, San, Heights, Hayes, Jackson, Cushman & Wakefield, North America, Francisco, Seattle, Bay, Silicon, Santa Barbara, Mission

☆ Woman who likely fell into sinkhole while searching for her cat is not expected to be found alive
▼ + stars: | 2024-12-05 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

The effort to locate a Pennsylvania grandmother who appears to have fallen through a sinkhole into a decades-old mine shaft while searching for her cat has likely shifted from a rescue to recovery mission, authorities said Wednesday. Pennsylvania State Police Trooper Steve Limani told reporters that there had been diminishing oxygen levels and no sign of life in the shaft, which he estimated was at least 30 feet deep. “Unless it’s a miracle, most likely this is a recovery,” he said. Elizabeth Pollard Pennsylvania State PoliceHe said there was little doubt Elizabeth Pollard, 64, had plunged through what he described as a thin piece of ground in Unity Township, roughly 40 miles southeast of Pittsburgh. Limani said authorities are shifting their approach to finding Pollard because of the mine’s fragile state.

Persons: Steve Limani, ”, Elizabeth Pollard, Limani, Pollard, We’re Organizations: Pennsylvania State Police, Elizabeth Pollard Pennsylvania, Police, Authorities Locations: Pennsylvania, Unity Township, Pittsburgh

☆ Ukraine's front-line fighters and dronemakers are trying to crowdfund their way to Russia's defeat through cheap strikes
▼ + stars: | 2024-12-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +15 min

Another prototype, a modified Soviet ZU-23-2 antiaircraft gun, needs $70,000 worth of parts to be fully automated to strike down Russian drones. Advertisement"For drones, most funding is from volunteer help, by donors," Chernyavskiy told Business Insider. Throughout the war, Ukraine has repeatedly struggled with insufficient amounts of ammunition, such as much-need 155mm artillery shells. In Ukraine, Chernyavskiy is frustrated, too. This is the nature of war," Chernyavskiy said.

Persons: it's, Oleksandr Chernyavskiy, Oleksandr Chernyavskiy Chernyavskiy, Chernyavskiy, Oleksandr Chernyavskiy Crowdfunding, Dmytro Smolienko, Federico Borsari, Borsari, Oleksandr Skarlat, Serhii Sternenko, Skarlat, Mark J, Lindquist, he's, Mark Lindquist, Oleksandr Chernyavskiy It's, Daniel Viksund, Viksund, Daniel Viksund He's, Chasiv, Jennifer Kavanagh, Kavanagh, Andriy Andriyenko, haven't, Sofiia Meleshenko Organizations: Ukraine's 241st Territorial Defense Brigade, Business, Publishing, Getty, Civilian, Center for, Telegram, US Air Force, Ukraine, 241st Territorial Brigade, Army, Veteran Aid Ukraine, Aid Ukraine, Defense, Savannah, BI Locations: Russia, Soviet, Ukraine, Moscow, Ukrainian, Kyiv, crowdfund, Norwegian, Afghanistan, Scandinavia, Chasiv Yar, Europe

☆ Why developers are turning to shopping malls to fix the housing crisis
▼ + stars: | 2024-12-05 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +12 min

But as the country contends with a housing crisis, the fastest growing use of these spaces is apartment complexes, real estate developers said. At least a dozen more apartment projects are underway at malls across the country, including in California, Florida, Arizona and Texas. For developers, adding apartments can not only fill a need, but also bring people closer to their remaining retail stores and restaurants. The Lafayette Square Mall in Indianapolis is slated to open 1,200 apartment units, including affordable housing in a former Sears building, beginning in 2025. Take The Arcade in Providence, Rhode Island – the oldest indoor shopping mall in the country.

Persons: Jacob Knudsen, we're, There's, Oscar Parra, liv, any of the hou, 200 ap, Howe, Amy, enio, cade, bui, alon g, He estima, venu, Mal, mila, Joh, John B, hite, tur, ker, ryo, TJ, Bo, Borchardt, ake o Organizations: U.S, JCPenney, Sears, NHL, Pacific Retail Capital Partners, ust, Uni, ersity Locations: Broomfield , Colorado, U.S, California , Florida , Arizona, Texas, erie, Bor

☆ What to expect in the November jobs report
▼ + stars: | 2024-12-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

When plugging those striking and weather-waylaid workers back in, November’s report is expected to show a net gain of 200,000 jobs, according to consensus estimates on FactSet. “Which suggests that the labor market is still doing quite well,” Faucher said. The weekly jobless claim data also is telling another story about the labor market: Employers have pulled back on hiring. “Overall, we still have got a tight labor market and we see that layoffs are historically low right now,” Faucher said. However, the coming weeks and months could shift the narrative for the labor market, inflation and the overall economy.

☆ Powell says a strong US economy is letting the Fed be ‘cautious’ about cutting interest rates
▼ + stars: | 2024-12-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Federal Reserve Chair Jerome Powell said Wednesday that the US economy’s strength means the central bank can show some restraint with cutting interest rates. “The good news is that we can afford to be a little more cautious” with cutting rates, the Fed leader said. Powell’s comments come as the Fed is expected to cut interest rates later this month for the third time this year. Joseph Brusuelas, chief economist at RSM US, said on X that he doesn’t expect another rate cut after December until March 2025 at the earliest. For now, the Fed seems to be on track for a third rate cut this year.

Persons: Jerome Powell, ” Powell, hasn’t, Donald Trump’s, Trump, Powell, Joseph Brusuelas, won’t, Adriana Kugler, Raphael Bostic, there’d, ” Bostic, “, Christopher Waller, It’s, Ken Griffin, Scott Bessent, Bessent Organizations: Washington CNN — Federal, The New York Times, Fed, RSM, Trump, Yale Budget, CNN, Congress, “, Atlanta Fed, ”, American Institute for Economic Research, New York Times Locations: Mexico, Canada, Detroit

☆ I retired at 30 with $540,000 in the bank and 'I don't have any regrets'—3 moves that helped me get there
▼ + stars: | 2024-12-03 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +5 min

When Purple's partner first told her about the FIRE movement — which stands for Financial Independence, Retire Early — in 2013, she wasn't convinced. Why would I want to retire early?'" But in October 2020, Purple retired at just 30 years old with $540,000 in savings, according to documents reviewed by CNBC Make It. Here are the three major moves Purple made to be able to retire early. Purple early retireeTravel, for example, has always been a priority for her and she will fly first-class without a second thought.

Persons: wasn't, Purple, —, doesn't, didn't, Seattle , Purple Organizations: Financial Independence, CNBC, FIRE Locations: New York City, New York, Seattle, Manhattan, Seattle ,

☆ A Vietnamese tycoon is scrambling to raise $9B to avoid execution
▼ + stars: | 2024-12-03 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

AdvertisementVietnamese real estate tycoon Truong My Lan had her appeal against the death sentence rejected. Judges said her sentence may be reduced if she paid three-quarters of the $12 billion she embezzled. A Vietnamese real estate tycoon is desperately trying to raise $9 billion to avoid the death penalty after her bid to appeal the sentence was rejected on Tuesday. Advertisement"However, these require time and effort to sell, as many of the assets are real estate and take time to liquidate," Nguyen said. Lan's lawyers also said that the death sentence would make it harder for her to negotiate the best prices for her assets.

Persons: Truong, Lan, Van Thinh, Khac Giang, – Yusof, Vietnam aren't, she's, Nguyen Huy Thiep, Nguyen, Eric Chu, Truong Hue Van Organizations: Saigon Commercial Bank, Vietnam Studies, Institute, BBC Locations: Saigon, Ho Chi Minh City, Vietnam, Truong Hue

☆ Russia's sky-high interest rates will struggle to fight inflation in the sanctions-stricken economy, top Russian bank CEO says
▼ + stars: | 2024-12-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia's interest rate hikes might not be an effective tool to fight inflation, the head of VTB bank said. The chief of VTB, Russia's second-largest bank, delivered the remarks after the Russian central bank raised its benchmark interest rate to 21% in October. High borrowing costs are the central bank's leading plan to curb stubborn price growth, with Russia's annual inflation rate approaching 8.7%. According to Carnegie Politika, it developed a proposal to give the government some oversight of monetary policy, pressuring the central bank to defend its approach. AdvertisementThe bank chief also predicted a slowdown in Russia's GDP growth to 1.9% next year, down from this year's government-estimated 3.9% expansion.

Persons: Russia's, Andrei Kostin, Kostin, Critics, Elvira Nabiullina Organizations: The Bank of, Reuters, Industrialists, Entrepreneurs, Carnegie Politika, Bank of Russia Locations: The Bank of Russia, Russian, Russia, Russian Union

☆ Zelenskyy says Russia is treating the first North Korean soldiers well, but it won't last
▼ + stars: | 2024-12-02 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukrainian President Volodymyr Zelenskyy said that Russia is treating the first batch of North Korean soldiers sent to aid in its war against Ukraine well, but that it won't last. Zelenskyy told Japanese news agency Kyodo News on Sunday that Russia was treating the North Korean troops well in order to try to attract tens of thousands more. AdvertisementThat could mean around 100,000 North Korean soldiers serving in Russia within a year, he said. Zelenskyy said during the interview with Kyodo News that North Korean troops had been killed there, confirming previous reports. AdvertisementAccording to South Korean intelligence, Russia is paying about $2,000 a month for each North Korean soldier.

Persons: Volodymyr Zelenskyy, Zelenskyy, Vladimir Putin, Dmytro Ponomarenko, Pat Ryder, Mykola Bielieskov, Bielieskov, Kim Yong, Hyun Organizations: North, Kyodo, Korean, Kyodo News, Pentagon, North Korean, Ukraine, Sunday, Ukraine's National Institute for Strategic Studies Locations: Russia, Ukraine, US, South Korea, Korea, Russian, Kursk, Asia, Korean

☆ Lebanese civilians return home to shattered lives and cities after ceasefire
▼ + stars: | 2024-11-30 | by ( Zoya Awky | Zoya Awky Is A Freelance Journalist Based In Lebanon. | ) www.nbcnews.com time to read: +5 min

Now we’re looking in the village to rent one apartment,” Ali Eid, 56, told NBC News in a telephone interview Friday after returning to his hometown of Maarakah in southern Lebanon’s Tyre district. Almost 3,500 people have been killed in Lebanon, according to officials in the country. In northern Israel, 60,000 people have been forced from their homes, with 80 soldiers and 50 civilians killed, according to local officials. On his return, he said around 50 homes had been destroyed in the village, but his house was still standing. “Some shattered glass only, but around us, my neighbor’s house is on the ground.”“I am happy, scared, in complete shock at the same time.

Persons: ZOUK, “, ” Ali Eid, ”, Eid, Imad Komayha, Komayha, “ We’re, Tyre, Israel, Hassan Nasrallah, Ali Alamine, ” Alamine Organizations: Hezbollah, NBC News, World Bank, United Nations Locations: ZOUK MOSBEH, Lebanon, Israel, Maarakah, Lebanon’s Tyre, “, United States, Kfarsir, Lebanon’s, Beirut, Tyre, Gaza, Niha, Dahiya, Alamine

☆ How China Became the World’s Largest Car Exporter
▼ + stars: | 2024-11-29 | by ( Agnes Chang | Keith Bradsher | ) www.nytimes.com time to read: +11 min

How China Became the World’s Largest Car ExporterChina 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 Source: Alix Partners Note: 2024 values are estimated. Domestic sales 20 Exports 0 2010 2015 2020 2024 Production capacity 40 million cars Car production capacity has risen faster than sales. Mr. Wen gave him essentially a blank check to make China the world’s leader in electric cars. Last year, most of the cars China sold abroad were traditional gasoline engine cars. China has more than 100 factories with a combined capacity to build close to 40 million internal combustion engine cars a year.

Persons: Alix, Donald J, Trump, Wen Jiabao, Wen, Carmakers Organizations: China, Japan Mexico Germany South, Alix Partners, European Union, China’s, Communist Party, Wan, Audi, America, UNITED STATES, BRAZIL, UBS, China Volkswagen, Volkswagen Locations: China, Japan Mexico Germany, Japan Mexico Germany South Korea, States, United States, Asia, Thailand, Philippines, Germany, Europe, Southeast Asia, Shanghai, Russia, Ukraine, Latin America, TURKEY, India, Brazil, Turkey, U.S

☆ China plans to restrict exports of a critical metal. But the market isn't that worried
▼ + stars: | 2024-11-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Stringer | ReutersBEIJING — China will start limiting exports of critical metal tungsten this weekend, just as alternatives to Chinese suppliers of the metal are reopening. watch nowEcclestone pointed out that tungsten prices have not reacted much to China's announcement. While China restricts tungsten exports, the U.S. increased tariffs on Chinese tungsten by 25% in September. Demand for tungsten in and outside China is expected to rise, keeping tungsten prices elevated in the near term, said Emre Uzun, ferro-alloys and steel analyst at Fastmarkets. But starting late next year, he expects increased non-China supply to help stabilize raw tungsten prices.

Persons: Stringer, —, Christopher Ecclestone, Ecclestone, Trump, Cullen, Hendrix, Almonty, Lewis Black, Jeong Kwang, Gracelin Baskaran, Emre Uzun Organizations: Reuters, —, Ministry of Commerce, U.S . Defense Department, Hallgarten & Company, Peterson Institute for International Economics, Almonty Industries, CNBC, Almonty, Bank, Center for Strategic, International Studies, South, . Geological Survey Locations: Lianyungang, Jiangsu province, China, Reuters BEIJING, U.S, South Korea, Canada, Seoul, Gangwon, Portugal, Sangdong, Kazakhstan, Australia, Spain

☆ She ditched her auditing job to work at her family's restaurant. 7 years later, she opened a second spot — and turned a profit.
▼ + stars: | 2024-11-27 | by ( Erin Liam | ) www.businessinsider.com time to read: +9 min

Seven years later, she expanded the business and opened New Station Rice Bar. Located in Fortune Centre, an old mall in central Singapore, her shop is a 10-minute drive from her parent's restaurant. Related storiesThe lessons she learned were proven rightAlmost 10 months since she opened the 500-square-foot restaurant, New Station Rice Bar has seen a steady flow of customers. But the most popular dish is salted egg chicken rice — also a bestseller at her parents' restaurant. Tan said New Station Rice Bar sees fewer customers during off-peak hours and when it rains.

Persons: Chloe Tan, Tan, Erin Liam Initially, didn't, it's, Wing, She's, It's, Erin Liam Tan Jun Hong, Cherry Tan, Iszahar Tambunan, Oon Seok Sim, she's, she'll, Erin Liam Tan Organizations: New, Rice, Rice Bar, BI, Singapore Airlines Locations: Austin , Texas, Singapore, Fortune, Hong Kong

☆ Why Americans Love Aldi; Food Inflation, Budget, Discount Groceries
▼ + stars: | 2024-11-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +11 min

She usually shopped at Publix, but in 2021, when inflation was sending grocery prices soaring, her curiosity got the better of her. AdvertisementAs grocery prices have jumped by double digits over the past few years, people have felt the sting. So how did a German grocery chain find such a ravenous following in America? For comparison, about 20% of groceries sold in the US last year were store brands, according to the Food Marketing Institute. He expects to see even more Aldi stores opening.

Persons: Julie Herron, Herron, Theo, Karl Albrecht, Aldi, wasn't, Oscar Mayer, Gen Z, Scott Patton, Patton, Joe's, there's, Phil Lempert, She's, Lempert, it's, Dunnhumby, Zak Stambor, I'm, Trump, Jason Hart, they'll, Alex Bitter Organizations: Aldi, Kroger, Foods, Iowa City, Employees, Bank of America, Food Marketing Institute, Aldi USA, Costco, Facebook, Southeastern Grocers, Winn, EMARKETER, Business, Walmart Locations: Nashville, Aldi, Euromonitor, America, Germany, Iowa City , Iowa, Charlotte , North Carolina, Wisconsin, Florida, Washington and Colorado, Illinois

☆ Rich Americans Are Buying up Old French Chateaus, Mansions
▼ + stars: | 2024-11-24 | by ( Astrid Landon | ) www.businessinsider.com time to read: +11 min

All across France, there's a glut of châteaus for sale. Plans require approval by the French minister of culture, and work must be done by designated specialists. "I decided not buying a château in France was going to be more detrimental to my health than buying one." For many French sellers, what strikes Americans as romantic has come to feel like a curse. "I live in a château," Engel reminds himself when he's feeling overwhelmed.

Persons: Mark Goff, Phillip Engel, Goff, Château Avensac, Astrid Landon, they've, Engel, Adrian Leeds, who's, Gonzague Le, Le Nail, it's, Michel Tarrible, Engel's, Abigail Carter, Carter, —, — Carter, Château de, Williams, d'Aubigny, château, he's, It's, Henrys d'Aubigny, l'Espinay, Borie, They've Organizations: YouTube, World Trade Center Locations: France, California, Gers, France —, Versailles, American, Paris, Avensac, Sonoma County, San Francisco, Canada, London , Massachusetts, New Jersey, Seattle, Agen, Brittany, Ohio, Château

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