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☆ Former Acting U.S. Trade Representative: Trump’s Tariffs Are a Terrible Idea
▼ + stars: | 2024-10-31 | by ( Miriam Sapiro | ) www.usnews.com time to read: +7 min

As a former acting U.S. trade representative who also served on the National Security Council, I’ve engaged in international economic policymaking firsthand. Trump’s main economic idea is to indiscriminately impose tariffs on U.S. trading partners, but it is American importers, exporters and consumers who will pay the price. When Trump last levied tariffs, the EU, Canada, China and other trading partners imposed their own tariffs in retaliation. While President Joe Biden left most of Trump’s tariffs against China in place, he managed to negotiate agreements that led to the easing of many retaliatory measures. As president, Harris would lead an economy that helps everyone, not just those at the very top.

Persons: you’re, it’s, you’ve, Kamala Harris, Donald Trump, I’ve, Harris, Shawn Fain, “, ” Harris, Harris ’, Trump, Smoot, Hawley, Mitch McConnell, “ I’m, Trump’s, Davidson, Joe Biden, Biden Organizations: National Security Council, United Auto Workers, Democratic Party, Republican, Foundation, European Union, Pennsylvania Farm Bureau, ”, Harley, EU Locations: Pennsylvania, Michigan, Wisconsin, America, China, U.S, EU, Canada

☆ Why a second Trump presidency would hurt the global economy
▼ + stars: | 2024-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

For Chinese imports, Trump has proposed an even steeper 60% tariff. Many economists have warned that tariffs planned by Trump will hurt global economic growth and drive up inflation in the US, as well as abroad if other countries introduce higher levies on US imports in response. The International Monetary Fund (IMF) also sees a hit to global gross domestic product from increased tariffs around the world, according to its latest World Economic Outlook. Mario Tama/Getty ImagesA rise in protectionism around the world means open trade is already under threat and the ability of its champion, the World Trade Organization, to settle international trade disputes is severely constrained. “What we’d see in Trump 2 is far more radical than what we saw in Trump 1.”

Persons: Smoot, Donald Trump, Federal Reserve — Trump, Trump, ”, Evan Vucci, he’s, Maurice Obstfeld, Kristalina Georgieva, “, Mario Tama, ” Obstfeld, ” Petros Mavroidis, Scott Olson, Joe Biden, André Sapir, Bruegel, Jerome Powell, Powell, ” Trump, ” Edward Alden, ” Alden Organizations: London CNN, Federal Reserve, Bloomberg, Economic, of Chicago, Trump, Peterson Institute for International Economics, Republican, UBS, Monetary Fund, ABN AMRO, Peterson Institute, IMF, White, Port, World Trade Organization, CNN, Columbia Law School, US, European Union, EU, greenback, Foreign Relations, “ Locations: United States, Hawley, Washington, DC, China, Ukraine, Chicago, Japan, France, South Korea, Port of Los Angeles, Indiana, Portage , Indiana, Brussels, Trump

☆ The index fund cushion is an equal opportunity booster for stocks
▼ + stars: | 2024-10-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

S & P 500 money is oblivious to stock valuations of any kind and ignorant to upgrades and downgrades. The Lilliputian sellers regularly fail to do damage when matched with the oblivious index money. A 4% 2-year note isn't competitive to the magnet of the S & P 500 and its kin. That's emblematic of what happens with a big buyback without stock-based compensation (something many tech firms use that renders moot the S & P 500 inflows). Because of the way that the S & P 500 money is divvied up, the share base becomes overwhelmingly index-fund based and the index fund shareholders do not sell.

Persons: Morningstar, Smoot, Herbert Hoover's, Warren Buffett, Buffett, Jerome Powell, haven't, Charlie Scharf, Wells, Banks, Charlie, Morgan Stanley, Ted Pick, James Gorman, Schwab, Gamble, Jim Umpleby, that's, Butch Cassidy, Jim Cramer's, Jim Cramer, Jim, Charles Scharf, Kyle Grillot Organizations: Federal Reserve, Commerce Department, Taiwan Semi, Trust, Fed, Triple AAA Robinhood, Morgan, Procter, United Airlines, Exxon, Caterpillar, Boeing, Apple, Meta, Sundance, Jim Cramer's Charitable, CNBC, Milken Institute Global Conference, Bloomberg, Getty Locations: Hawley, McCumber, Taiwan, Arizona, American, Wells Fargo, Wells, China, Chevron, Beverly Hills, Calif

According to an NBC News review of police hiring laws in Illinois, Grayson’s hiring did not appear to have violated state or local police hiring policies. And an NBC News review of hiring practices around the country shows that there is a patchwork of hiring standards that vary from state to state and from community to community. Experts say the hiring standards in many small law enforcement agencies are often lower than those of large city agencies. In Illinois, in addition to its state law, city councils and county commissions can also set their own stricter hiring rules. Using the California hiring standards as a model, Guller tells his clients to send seasoned investigators out to interview a person’s former romantic partners, neighbors, employers and even patrons at their favorite bars.

Persons: Sonya Massey, —, Sean Grayson’s, Grayson’s, Thomas Campion, Grayson, Jack Campbell, George Floyd, ”, Michael Bricker, “, Sonya, Matt Guller, ” Sonya Massey, Ben Crump, ” Ed Obayashi, ” Obayashi, who’ve, John O'Connor, Campion, Massey, ” Sean Smoot, Tony Dejak, Sean Smoot, Smoot, Barack Obama’s, “ You’ve, “ We’re, ” Bricker, Guller, ” Guller, James Allard, Allard, Eric Hurd, ” Hurd, Hurd, David Corey, ” Smoot Organizations: Army, NBC, NBC Nightly, U.S . Justice Department, Chicago Police Department, “, New Jersey State Police, NBC News, Police, Minneapolis Police Department, Office, Cleveland City, Illinois, Force, Century, Illinois State Police, Chicago, East, Institute for Forensic Psychology, New York State Police, American Psychological Association, “ Chiefs Locations: Illinois, Sangamon County, Springfield , Ill, California, . Illinois, Logan, East Coast, Steuben County New York, Buffalo, George Floyd , New York, Although New York, New York, ‘ Illinois, Oregon, “ Illinois

☆ McDonald's to end AI drive-through test with IBM
▼ + stars: | 2024-06-17 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

The drive-through menu at a McDonald's restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. In a statement, McDonald's told CNBC it is not ruling out potential AI drive-through plans in the future, even though it ended the IBM partnership. In statement, IBM said it will work with McDonald's on "a variety of other projects" as the test ends. While McDonald's AI plans for the future are unclear, all eyes will be on Alphabet 's Google.

Persons: Mason Smoot, McDonald's, Sundar Pichai, Peter Saleh, Saleh Organizations: IBM, CNBC, McDonald's, Yum Brands, Mastercard, Google Locations: Buttonwillow, Kern County , California, Del Taco, Barcelona

☆ Ron Insana: How Trump’s pitch to replace the income tax with tariffs on imports could rattle the economy
▼ + stars: | 2024-06-14 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

Anna Moneymaker | Getty ImagesFormer President Donald Trump's recent proposal to replace the U.S. income tax with a tariff on all imported goods is a twist on a clarion call from conservatives — and it could come with unintended consequences. This week, Trump floated the concept of imposing an "all tariff policy," ultimately to eliminate the income tax, sources told CNBC. Entities like the Kemp Commission and Steve Forbes have commonly called to replace the income tax with a flat tax. Trump's proposal brings a new wrinkle to the movement, as it would replace the income tax with a levy on all imported goods. Simple math would suggest that the government may need to impose a 65% tax on all imported goods and services to raise the needed $2.5 trillion.

Persons: Donald Trump, Anna Moneymaker, Donald Trump's, Trump, Steve Forbes, We've, Herbert Hoover Organizations: National Republican, Committee, Washington , D.C, Getty, —, CNBC, Kemp Commission, Smoot Locations: Washington ,, U.S, Hawley, China

☆ This year's biggest air battles are showing the US what it could need most in a missile war with China
▼ + stars: | 2024-05-15 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +13 min

AP Photo/Evgeniy Maloletka, FileThe war has shown how effective air defenses can be at denying air superiority, protecting key areas, and threatening high-value aircraft, as well as the costs when capabilities are degraded. Ukraine's air defenses, like its Soviet-era S-300s and US-supplied Patriots, have defeated enemy missile and drone strikes, hindered Russian air operations, and shot down numerous fighter-bombers and other Russian planes. "Ukraine and NATO might reduce risks with a two-prong strategy of strengthening air defenses and boosting infrastructure resilience." Needing more interceptors for the PacificFrom the fights this year, the US can see how it'll need to employ air defenses in a potential showdown with China. Running out of air defenses before the enemy runs out of air threats spells trouble.

Persons: —, Bradley Martin, Evgeniy, Volodymyr Zelenskyy, Firefighters, Archer Macy, Martin, Shaan Shaikh, We've, Amir Cohen TPX, Shaikh, it's, Andy Wong, Thomas Shugart, Shugart, Joshua Smoot, Heath Collins, Navy Carlos Del Toro, Macy, Mark Wright Organizations: Service, Business, US Navy, Ukraine, AP, Patriots, Institute for, Emergency, Ministry, RAND Corporation, NATO, Western, Central Command, Combat, Navy, RAND, Patriot, US, Missile Defense, Center for Strategic, International Studies, REUTERS, China, Pentagon, Defense, Center, New, Air Force, 37th Expeditionary Bomb Squadron, Andersen Air Force Base, US Air Force, Aegis, Missile Defense Agency, Former Navy, CSIS, Pacific Missile, AP Air Locations: China, Ukraine, Israel, Navy, Russia, Congress, Avdiivka, Kharkiv, Russian, Kyiv, NATO, Yemen, Gulf of Aden, Iran, Red, Screengrab, French, Ashdod, South Korea, Japan, Guam, Beijing, New American, Gen, Kauai, Hawaii

☆ Disney reveals more on huge Magic Kingdom expansion, one part of a $60 billion investment
▼ + stars: | 2024-04-04 | by ( Natasha Chen | ) edition.cnn.com time to read: +9 min

Glendale, California CNN —Big Thunder Mountain Railroad, the “wildest ride in the wilderness,” sits at one edge of Disney World’s Magic Kingdom park, the most visited theme park in the world. “It’s probably the largest expansion ever at Magic Kingdom,” Michael Hundgen, Walt Disney World site portfolio executive, said Tuesday during a rare media event previewing new Disney attraction designs and technology at its Walt Disney Imagineering facility in California. Disney’s 10-year investment planThe Magic Kingdom expansion is one part of a $60 billion investment Disney has said it’s planning for its parks, cruises and experiences over the next decade. But any plans for expanding the theme park footprint at the Disneyland resort would need Anaheim city approval because of zoning issues. This is really a wild experience.”Charita Carter, executive creative producer at Walt Disney Imagineering, worked on the project from its inception about four years ago.

Persons: “ It’s, ” Michael Hundgen, Walt, Walt Disney, Bob Iger, Josh D'Amaro, Iger, “ it’s, Disney, ” Iger, ”, Mike Pucher, Walt Disney Imagineering Iger, Imagineers, Darth Vader, Imagineer Lanny Smoot, ” Smoot, Smoot, Christian Thompson, Stella Reese Chase, Leah Chase, Chase, “ I’m, I’ve, ” Charita Carter, Walt Disney Imagineering, Carter, “ Organizations: California CNN, Railroad, Disney, Magic Kingdom, Walt Disney, Walt, CNN, Universal Orlando Resort, Universal, Comcast, Anaheim City Council, National Inventors Hall of Fame, Research, Walt Disney Imagineering Research, Disneyland’s Locations: Glendale, California, ”, Central Florida, Disney’s Florida, Florida, Anaheim, New Orleans

☆ McDonald's is promising its 'Best Burger.' Now the chain will see if diners buy more of them
▼ + stars: | 2024-02-04 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's has upgraded its burgers — but it's unclear if its sales will get the same boost. Still, McDonald's U.S. traffic dipped in the third quarter as low-income diners cut back their visits. When the company announces its fourth-quarter results Monday morning, analysts are expecting U.S. same-store sales growth of just 4.4%, according to StreetAccount estimates. Enter McDonald's "Best Burger" initiative: small tweaks to the chain's burgers that create a noticeably more flavorful product. The cooked patties are kept hotter, so the overall burger is still warm by the time it reaches the customer.

Persons: McDonald's, Mason Smoot Organizations: McDonald's Locations: McDonald's U.S

☆ Opinion: Nikki Haley is right about the Trump tariffs
▼ + stars: | 2024-02-02 | by ( Opinion Edward J. Mccaffery | ) edition.cnn.com time to read: +5 min

Think about that for a second.”Second, Haley is almost certainly right: tariffs can be a regressive tax, borne largely, if not exclusively, by ordinary American workers. The moderate, non-partisan Tax Foundation found that the existing Trump tariffs will bring in a mere $74 billion in revenues over ten years, while costing jobs, lowering growth and depressing American wages. Haley is right. Who is likely to benefit most from any future Trump tax cuts? Haley is right; Trump wins.

Persons: Edward J, McCaffery, Robert C, Donald Trump’s, Nikki Haley, Haley, Trump, Adam Smith, Harris, Smoot, Hawley, Hood, Herbert Hoover, Ronald Reagan Organizations: CNN, Packard, University of Southern, McCaffery, Jobs, South Carolina Republican, Foundation, Tax Foundation, Biden, Trump, Tax, Walmart, Republican, Trump University Locations: University of Southern California, Washington, China

☆ A stock market crash and a Great-Depression-style economy are among the boldest forecasts for 2023.
▼ + stars: | 2023-01-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Now it's full speed ahead into 2023 — and the first Opening Bell newsletter of the year is a doozy. Over the last 12 months, volatility defined global markets. Some of the worst-performing tokens plummeted more than 90%, and one North Korean cyberattack resulted in a $625 million theft. Here is your complete guide to navigating the stock market. Oil (WTI) price on Jan. 3, 2023 Markets Insider10.

☆ The Fed made a 'serious mistake' by raising interest rates, and it could land the US in another Great Depression, says Ark's Cathie Wood
▼ + stars: | 2022-11-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Fed is ignoring deflationary signals in an hark back to start of the Great Depression, tweeted Cathie Wood. Wood said she wouldn't be surprised to see broad-based inflation turn negative in 2023. To cool inflation, the Fed hiked interest rates sharply from 1919 to 1920, from 4.6% to 7%, she further noted. The central bank then raised rates in 1929 to curb market speculation — a move which, together with the Smoot-Hawley Tariff Act — contributed to the Great Depression. This time round, the Fed has already raised interest rates 16-fold — which Wood felt was a "serious mistake."

☆ Riverbed CEO explains his plan to overcome financial troubles and beat out rivals like Cisco by pivoting from hardware to software
▼ + stars: | 2022-10-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

The information-technology firm Riverbed is betting it can outdo giants like Cisco, worth about $172 billion, in the observability-tools space. In a switch from its networking hardware roots, Riverbed is launching more software products that use artificial intelligence and machine learning to monitor a firm's IT infrastructure, known as observability tools. After years of hardship, Riverbed's suite of observability tools generates more sales than its hardware, making it pivotal to the firm's recovery strategy. Riverbed's focus on observability software is especially important now that the chip shortage is slowing down the production of its WAN optimization devices, another blow to its hardware sales, Smoot said. That's why it's not discontinuing its hardware business despite hinging future growth on the observability market.

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