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☆ 'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis
▼ + stars: | 2024-11-22 | by ( Hugh Son | ) www.cnbc.com time to read: +9 min

Morris, like thousands of other customers, was snared in the collapse of a behind-the-scenes fintech firm called Synapse and has been locked out of her account for six months as of November. Then she learned how much Evolve Bank & Trust, the lender where her funds were supposed to be held, was prepared to return to her. The crisis started in May when a dispute between Synapse and Evolve Bank over customer balances boiled over and the fintech middleman turned off access to a key system used to process transactions. Synapse helped fintech startups like Yotta and Juno, which are not banks, offer checking accounts and debit cards by hooking them up with small lenders like Evolve. But that would've required more coordination between Evolve and the other lenders that held customer funds than what ultimately happened.

Persons: Oscar Wong, Kayla Morris, Morris, Andreessen Horowitz, Jelena McWilliams, Zach Jacobs, there's, Yotta, Adam Moelis, they've, Jacobs, Andrew Meloan, Meloan, I've, ” Zach Jacobs, McWilliams, McWilliams didn't, Rayburn, Tom Williams, hadn't, Judge Martin Barash, Natasha Craft, they're, Andreatte Caliguire Organizations: Evolve Bank & Trust, Synapse, Evolve Bank, ., CNBC, FedEx, Evolve, Deposit Insurance Corp, U.S, FDIC, Trump, Federal Reserve, Federal Deposit Insurance Corporation, Financial, Prudential Regulators, Megabanks, Depository, CQ, Inc, AMG, Lineage Bank, American Bank, Indiana FedEx Locations: Texas, Tampa , Florida, Yotta, Chicago, California, Mishawaka , Indiana

☆ Gen Z, millennial retail investors are tapping into ETFs, report finds. Here are things to watch out for, expert say
▼ + stars: | 2024-11-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

The survey polled 2,000 U.S. retail ETF investors in March. "The continued growth of retail investors investing in ETFs is certainly not going away," she said. watch nowMeanwhile, associated fees with ETFs tend to be much lower compared to mutual funds and other index funds. Index ETFs have a 0.44% average annual fee, half the 0.88% fee for index mutual funds, according to Morningstar. Similarly, active ETFs carry a 0.63% average fee, versus 1.02% for actively managed mutual funds, Morningstar data shows.

Persons: Oscar Wong, John Healy, Healy, He's, Young, Zers, Gen, Alison Hennessy, Hennessy, Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas Organizations: Nasdaq, millennials, Morningstar Locations: New York City, U.S, Orlando , Florida

☆ 'It's gross, it's unprofessional': Some LinkedIn users are being put off the platform by unsolicited flirtatious DMs
▼ + stars: | 2024-11-08 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +8 min

studioEAST | Getty ImagesSome LinkedIn users have reported receiving unsolicited flirtatious messages via the platform, with expert Bernie Hogan at the Oxford Internet Institute saying the employment-focused social website is increasingly being used for dating purposes. "It's just a gross feeling ... it's gross, it's unprofessional," Huddy told CNBC. "LinkedIn is not a workplace, it merely frames itself as a workplace," he told CNBC Make It. A recent Forbes Health Survey of 1,000 Americans who have used dating apps in the past year found that 78% felt fatigued emotionally, mentally, or physically by dating apps sometimes, often, or always. "So LinkedIn has effectively created a dating site without dating," Hogan added.

Persons: Bernie Hogan, Blair Huddy, Huddy, She's, Shriya, DatingNews.com, Hogan, Courtney Boyer, Boyer, Sasha Dutta, Dutta, Oscar Wong Organizations: Getty, Oxford Internet Institute, Hudson Davis Communications, CNBC, LinkedIn, Microsoft, Facebook, Forbes Health Survey Locations: studioEAST, Los Angeles, U.S, Central Florida, Asian

☆ Sober October: It’s not too late to try drinking less, expert says
▼ + stars: | 2024-10-16 | by ( Katia Hetter | ) edition.cnn.com time to read: +6 min

CNN —Even though the month is more than halfway over, is it too late to try Sober October? Individuals may also experience physical symptoms when they stop drinking, such as nausea, sweating and restlessness. CNN: Who should try Sober October? Wen: Anyone who drinks alcohol can try Sober October. People who experience withdrawal symptoms when they stop drinking should seek medical assistance to help them quit.

Persons: Leana Wen, Wen, Oscar Wong, “ Organizations: CNN, George Washington University, US Centers for Disease Control, US Food and Drug Administration Locations: United States, United Kingdom, Netherlands

☆ Your preference for spicy foods may be all in your head
▼ + stars: | 2024-10-09 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

In other words, I may find spicy food overwhelming simply because I expect it to be. “Some of it could be expectations, but some could also be how you’re biologically wired to experience food,” Albers said. Remember expectations can significantly influence your experience.”Listen to your body: As you eat spicy food, check in with your body’s responses. “There’s no ‘right’ level of spiciness — it’s about what feels good to you.”Pair spicy foods thoughtfully: Consider balancing spicy flavors with cooling elements, such as a piece of cheese or bread. “Spicy foods can increase your metabolism, your heart rate, cause vomiting and gastric distress, so there is definitely a physiological response that’s going on,” Albers said.

Persons: ”, “, I’m, “ There’s, Susan Albers, Oscar Wong, Yi Luo, ” Luo, ” Albers, Albers, it’s Organizations: CNN, Spice Girls, Cleveland Clinic, Getty, PLOS Biology, East China Normal University Locations: Ohio, Shanghai, Carolina

Outbound travel from China is set to receive a much-anticipated jolt as "Golden Week" bookings show changes in where and why Chinese people are traveling. While most Golden Week travelers are choosing mid-tier accommodations, growth for five-star hotels in Europe is almost three times higher in Europe than in Asia-Pacific, company data showed. Seeking quiet and concertsAs Chinese tourists continue to move beyond organized sightseeing tours abroad, more are seeking to celebrate Golden Week in off-the-beaten-path locations, especially in Asia and Europe, according to Trip.com's data. In Europe, bookings in Spain rose 260% to the city of Granada and 144% to Seville, according to Trip.com. Hong Kong is expected to welcome as many as 1.2 million mainland Chinese visitors during the coming Golden Week holiday, up 10% from last year, according to the city's Travel Industry Council.

Persons: Trip.com, Oscar Wong, Vietnam —, Ito, John Legend Organizations: National, Alibaba Group, United, United Arab, Goldman Sachs Equity Research, ASEAN, Golden, city's Travel Industry Locations: China, Asia, Pacific, Japan, Hong Kong, South Korea, Australia, Thailand, Malaysia, Singapore, Vietnam, Southeast Asia, United States, Chile, Croatia, Belgium, Hungary, Czech Republic, Finland, Norway, Netherlands, United Arab Emirates, Sri Lanka, New Zealand, United Kingdom, France, Spain, Europe, Trip.com, Cambodia, Laos, Myanmar, Tokyo, Kyoto, Yokohama, Phu, Granada, Seville, Golden, . Hong Kong

☆ Universal basic income pros and cons —according to experts
▼ + stars: | 2024-09-26 | by ( Allie Kelly | ) www.businessinsider.com time to read: +13 min

BI broke down the pros, cons, and frequently asked questions about basic income. Universal basic income and guaranteed basic income could fill gaps in the existing US social safety net, experts said. A benefit of basic income is the element of choice, according to Shafeka Hashash, associate director of guaranteed income at the Economic Security Project. Private donors often fully or partially fund basic income programs, lessening the cost burden on local governments. US states with active basic income programs include California, Illinois, Colorado, New York, Georgia, Louisiana, and more.

Persons: —, Melvin Carter, Paul, Shafeka Hashash, Hashash, It's, John Gillette, Oscar Wong, UBI, Andrew Yang, Howlette, hasn't, Michael Tubbs, Allan Baxter, What's, Sam Altman, Elon Musk Organizations: Service, Business, St, SDI, SNAP, Economic Security, Arizona, Rep, American, Orleans Mayor's, Youth, University of British Columbia, Alaska Permanent Fund, Tech Locations: Valley, America, Los Angeles and Illinois, Texas, Missouri, Arizona , Iowa, South Dakota, Orleans, Denver, Atlanta, Alaska, California , Illinois, Colorado , New York , Georgia, Louisiana, Canada, Brazil, China, Germany, India, Iran, Ireland, California, New Mexico, Oregon

☆ Companies face risk of huge fines and suspensions under tough new cyber rules in the EU
▼ + stars: | 2024-09-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

The rules impose tougher requirements on companies around their internal cyber resilience strategy and internal practices. CNBC runs through all you need to know about NIS 2 — from what the law requires to the potential penalties businesses could face for violations. Under NIS 2, firms will also have to vet their digital supply chains for cyber threats and vulnerabilities. Companies that fail to comply with the new law could face massive potential fines, along with other punitive actions. Still, even with cyber security a much more prominent focus in board rooms, this hasn't stopped cyberattacks from taking place.

Persons: Oscar Wong, Geert van der Linden, Van der Linden, It's, Chris Gow, Carl Leonard, Leonard, Cisco's Gow, CISO, cyberattacks, Gow Organizations: European Union, NIS, CNBC, Information, EU, Companies, noncompliance, Data, Union Locations: EU, Capgemini, Russian

☆ 'Rentvesting' can be 'a good way to get into the property market,' economist says. Here's how it works
▼ + stars: | 2024-07-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

"It can be a good way to get into the property market," she said, especially if you live in a city where home prices are out of your budget. About 55% of small-portfolio rental owners hire a property manager because they don't live near their rental property, according to the State of the Property Management Industry Report by Buildium, a property management software company. However, hiring a property manager comes at a cost, which depends on factors such as the property location and services provided. Property manager fees can reach up to 25% of the monthly rent price, depending on the specifications, according to Apartment List. That's good news for renters, "but not good news if you're a property owner," said Fairweather.

Persons: Oscar Wong, Danielle Hale, Hale, they're, Daryl Fairweather, Fairweather Organizations: Finance, Redfin, Property Management Locations: United States

☆ Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’
▼ + stars: | 2024-06-01 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Instead, his company has inadvertently been a source of deep pain for thousands of customers who relied on Yotta accounts to receive paychecks, pay bills and save for emergencies. For the past three weeks, 85,000 Yotta customers with a combined $112 million in savings have been locked out of their accounts, Moelis told CNBC. Accounts at crypto firm Juno and at Copper, which offered savings accounts for families and teens, also have been frozen. Adam Moelis, Co-Founder at Yotta Savings. Representatives of the agencies have pointed to efforts they've made to encourage banks to manage the risks of using fintech partners.

Persons: Oscar Wong, Adam Moelis, Trust —, Moelis, Dave, We've, they've Organizations: Synapse, Bank, Trust, CNBC, Evolve Bank, Evolve, Mercury, Yotta Savings, Federal Reserve, Federal Deposit Insurance Corp Locations: Tennessee, Yotta, fintech

☆ Here's the deflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Consumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. They've also declined for some groceries and other things, such as travel, according to the consumer price index. Physical goods prices have deflated in all but one month since May 2023, for example. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Downward pressure on goods prices has waned a bit in recent months as supply-and-demand dynamics have normalized, economists said.

Persons: Oscar Wong, They've, they've, Michael Pugliese, Stephen Brown, Mark Zandi, Zandi, Hayley Berg, Hopper, There's, Brown Organizations: Consumers, Wells, Wells Fargo Economics, North, Capital Economics, Finance, GameStop, AMC, U.S, Federal Reserve, Canadian, Moody's, Airlines Locations: Wells Fargo, North America, U.S

☆ 7 of the best scents to wear this spring, according to professional perfumers
▼ + stars: | 2024-04-06 | by ( Cheyenne Lentz | ) www.businessinsider.com time to read: +5 min

Silent florals continue to be popularMany familiar scents from the garden, including lilac, are popular in spring fragrances. Citrus and fruity scents have uplifting and refreshing qualitiesFresh culinary scents including citrus and other fruits are popular notes for spring fragrances. Oscar Wong/Getty Images"Citrus scents are always popular for spring, as they bring a refreshing and uplifting feel," Gavarry said. Indulgent scents, such as vanilla, are on the riseToday's consumers are being drawn to scents that delight and allow you to escape, according to Gavarry. With that, there has been a growing interest in scents that are more indulgent and pleasurable, and this will likely continue through spring.

Persons: —, perfumers, Clement Gavarry, Rodrigo Flores, Roux, Tom Ford, Woody, Gavarry, florals, Christophe Lehenaff, hyacinth, Flores, Oscar Wong Organizations: Service, McKinsey & Company, Business, Inter Parfums, Dolce Locations: Givaudan, Swiss, gardenia

☆ A body-clock researcher explains why he never eats high-protein meals at night, and waits 1 hour to eat breakfast
▼ + stars: | 2024-03-28 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +6 min

Read previewScientist Satchidananda Panda has always been fascinated by what our bodies' internal clocks can do for us. AdvertisementPanda says if you're going to eat a protein-rich meal, make sure you time it so it's not too late after dark. Randy Shropshire/Getty ImagesResearch shows that late-night eating prompts the body to overproduce stomach acid. This is advice some muscle-builders and other researchers disagree with — they say drinking protein shakes at night can help with muscle growth. Advertisement"If we eat a high protein load late in the night, then our stomach produces disproportionately more acid to digest that," Panda said.

Persons: —, Panda, Satchidananda, Randy Shropshire, he's, Oscar Wong Organizations: Service, Business, Salk Institute for Biological Studies, Getty, Research, San Diego firefighters Locations: Venice Beach, Venice , California

☆ Stop being fooled by misinformation. Do this instead
▼ + stars: | 2023-11-29 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

It’s a text from your credit card company — someone is trying to purchase a $2,500 laptop using your account number. Be it finance, health care or politics, there is a global “infodemic” of misinformation that is affecting people’s health and well-being, according to the World Health Organization. “For most of the population who isn’t extreme in their attitudes, fact-checking and debunking reduces the degree to which people rely on falsehoods, but it doesn’t fully eliminate it,” van der Linden said. This approach works much like a vaccine, van der Linden said. “Instead of talking about immigration or abortion, talk about ‘Star Wars’ and ‘South Park’ as a starting point,” van der Linden said.

Persons: COVID, ”, Sander van der, van der Linden, Oscar Wong, nudges, “, ” van der Linden, you’re, Anakin, Obi, ” Obi, “ We’ll Organizations: CNN, Facebook, World Health Organization, WHO, “, Social, University of Cambridge, American Psychological Association, Getty, Cambridge, Research, ‘ Locations: Sander van der Linden, Covid, Cambridge, Canada, absolutes

☆ Credit card users paid nearly $164 billion in fees, interest in 2022. It may 'get a little worse,' analyst warns
▼ + stars: | 2023-10-19 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Some credit card companies charge as much as $41 for a missed payment. Proposed changes are meant to fill gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD Act. The law imposed guardrails on credit card companies, like price controls on penalty fees and specific conditions in which they can be charged. However, there is no restriction on how much APR a company can charge nor language on late fees. How to minimize credit card fees, interestCardholders paid on average $76.27 in fees and interest per credit card account in the fourth quarter of 2022, WalletHub found.

Persons: Oscar Wong, Biden, Schulz, Cardholders, WalletHub, it's, cardholders, Autopay, Matt Schulz, Sara Rathner Organizations: Federal Trade Commission

☆ 8 easy — and cheap — ways to cut your carbon emissions
▼ + stars: | 2023-08-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

Here are some easy — and inexpensive or no-cost — ways to reduce your carbon footprint today, according to efficiency and environmental experts. As such, the average household saves about $225 in energy costs per year by switching to LED lighting, the Energy Department said. Cut food wasteErlon Silva - Tri Digital | Moment | Getty ImagesThe average American wastes more than 400 pounds of food a year. A washing machine spends 90% of its energy to heat water, for example, the Consumer Federation of America said. Even putting something like a brick in your toilet tank will displace — and therefore save — water.

Persons: Katharine Hayhoe, Keoleian, Jose Luis Pelaez, Hayhoe, Oscar Wong, Tom Werner, Digitalvision Organizations: Nature Conservancy, Texas Tech University, U.S . Department of Energy, Energy Department, Silva, Tri, Environmental, Agency, Consumer Federation of America, Public, Getty Locations: U.S

☆ Britain faces a mortgage crisis with renters and homeowners in the crossfire. Here's how to protect your money
▼ + stars: | 2023-08-02 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +5 min

"Demand is being stoked by a strong jobs market, record immigration and rising mortgage rates," Donnell said. Mortgage crisisBritain's mortgage crisis has been brewing for months. Nicholas Mendes, a technical mortgage manager at mortgage broker and advisor John Charcol, told CNBC Make It that there are pros and cons to both. Prospective buyers may feel "trapped" in the rental market, which could deter them from trying to buy, they told CNBC Make It. Higher mortgage rates are prompting some of those who still have mortgages to pay off to pass on those additional costs to renters, he said.

Persons: Oliver Knight, Knight Frank, Oscar Wong, Ed Monk, Richard Donnell, Zoopla, Donnell, Monk, Nicholas Mendes, John Charcol, Mendes, Urvish Patel, Barry Naisbitt Organizations: Fidelity International, CNBC, Mortgage, Bank of, Bank of England, National Institute of Economic, Social Research Locations: Britain

You also may find more time to review your financial goals and decide whether you need a reboot. Here are three key actions financial experts suggest you take midyear. Oscar Wong | Moment | Getty Images"Make practice payments to yourself," said Corbin Blackwell, a CFP and senior financial planner at Betterment. Check your tax withholdingTo avoid having too little tax withheld from your pay and facing an unexpected tax bill or penalty at tax time next April, check your tax withholding. Adjusting your tax withheld now can also help with your cash flow and ensure you receive a bigger paycheck and smaller refund at tax time.

Persons: Stacy Francis, —, Jordan Awoye, Oscar Wong, Corbin Blackwell, Tim Maurer, Blackwell Organizations: Francis Financial, Awoye, CNBC, IRS Locations: New York, Bay Shore , New York, Atlanta, Charlotte

☆ How generative A.I. and low-code are speeding up innovation
▼ + stars: | 2023-05-19 | by ( Rachel Curry | ) www.cnbc.com time to read: +4 min

Oscar Wong | Moment | Getty ImagesIndependently, generative artificial intelligence and low-code software are two highly sought-after technologies. While the intersection of low-code and AI feels natural, it's crucial to consider nuances like data integrity and security to ensure a meaningful integration. Additionally, rather than the AI revolution replacing low-code, Varadharajan said, "One doesn't replace the other, but the power of two is going to bring a lot of possibilities." Low-code software increases the accessibility of development across organizations (often to so-called citizen developers) while generative AI increases organizational efficiency and congruence. "Even now, we are still grappling with the possibilities of what generative AI can do," Varadharajan said.

☆ Investing Club mailbag: How does a new member start investing in the stock market?
▼ + stars: | 2023-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

— Henrick S. First and foremost, new members should not rush into any individual stock when joining the Club. For the Club portfolio, we tend to start with a roughly 1% position and determine follow-up purchases based on the news flow, price action and market setup. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Health experts call for a ban on toxic 'forever chemicals' after EPA moves to cut them from tap water
▼ + stars: | 2023-03-18 | by ( Morgan Mcfall-Johnsen | Jessica Orwig | ) www.businessinsider.com time to read: +7 min

Toxic PFAS, aka "forever chemicals," are in water, food, furniture, and clothes across the US. The EPA's new proposal to limit the substances in drinking water is a step in the right direction. On Tuesday the US Environmental Protection Agency proposed strict limits on six per- and polyfluoroalkyl substances (PFAS) in drinking water. The chemicals are prolific in everyday human environments — in our water, food, air, and even the dust in our homes. That means more and more of them are getting into the environment — and drinking water — every day.

☆ Women aren't investing at the same rate as men. Here's why it matters—and how the gap can be closed
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

BNY Mellon also interviewed 100 global asset managers with $60 trillion in assets under management. One is that the investment industry isn't engaging women to the same degree as men, BNY Mellon's research found. Then there is the high hurdle of the disposable income women think they need to have before they invest. On average, women around the world believe they need $4,092 a month before they would consider investing any of it, BNY Mellon found. "Once you control for income, many of those differences between men and women and investing behaviors kind of disappear.

☆ Dogs poop less if they eat human-grade food, but it may not be better for their health, say experts
▼ + stars: | 2022-12-28 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

It's not clear whether human-grade food is better for dogs' health, experts said. A 2021 study followed the poop output of 12 dogs fed "fresh" dog food (from the FreshPet brand), classic dog food ( from Blue Buffalo), or "human-grade" beef or chicken dog food (JustFoodForDogs) for 28 days. The study found that the dogs pooped around half as much when eating fresh and human-grade food — a drop of 50% to 70%. None so far have definitively shown that kibble or canned food is worse for the dog's health or lifespan, he said. In the process, molecules that could be bad for your dog's health appear in the food.

Oscar Wong/Getty ImagesYou can stack promotions, discount codes, shopping portal payouts, and credit card rewards to save big when you shop online. Visit a shopping portalIf at all possible, you should begin every online shopping trip with a shopping portal. Shopping portals will give you bonus rewards simply for clicking through to a merchant's website via their link. Maximize bonus spending categoriesThe card I'm using to leverage my Overstock.com Chase offer is the Chase Freedom Flex℠. This is the price that the shopping portal, Chase Offer, and bonus points for spending will use to calculate my return.

Oscar Wong/Getty ImagesFor a limited time, the Alaska Airlines Visa® Credit Card by Bank of America is offering a huge welcome bonus, plus a Companion Fare ($99 fare plus taxes and fees from $22). Cardholders earn unlimited 3x miles on eligible Alaska Airlines purchases (and 1x miles on everything else). If you travel on the airline, the Alaska Airlines Visa® Credit Card could well be worth the moderate $95 annual fee. Flight distance Alaska miles required one-way (economy class) Alaska miles required one-way (first class) 700 miles or less 5,000 15,000 701 to 1,400 miles 7,500 25,000 1,401 to 2,100 10,000 25,000 2,101 miles or more 12,500 30,000You can also redeem miles towards a 50% discount on ticket booking (with limits). It's crucial that you don't forget to use your miles in a timely manner, since Alaska miles expire after 24 months.

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