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☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

[1/2] Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, U.S., November 17, 2022. Federal law only allows NLRB members, who are appointed by the president and confirmed by the Senate, to be removed for "neglect of duty or malfeasance in office." The Buffalo store is one of more than 360 Starbucks locations in the U.S. to unionize since 2021. The labor board is currently considering more than 100 cases accusing Starbucks of unlawful conduct, including firing union supporters, barring organizing in stores and refusing to bargain with unions. An NLRB official dismissed Cortes' petition in May, saying no election could be held until cases accusing Starbucks of unfair labor practices at the Buffalo store were resolved.

Persons: Lindsay DeDario, Ariana Cortes, Cortes, Kayla Blado, Daniel Wiessner, Alexia Garamfalvi, Deepa Babington Organizations: REUTERS, Starbucks Corp, U.S . National Labor Relations Board, Work Foundation, U.S . Constitution, Starbucks, NLRB, Senate, Democratic, Democrat, Buffalo, Thomson Locations: Buffalo , New York, U.S, New York, Washington ,, U.S ., Buffalo, unionize, Albany , New York

☆ 'This fight is not over': What to know about Biden's new plan to forgive student debt
▼ + stars: | 2023-07-12 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

President Joe Biden announces new actions on June 30, 2023 to protect borrowers after the Supreme Court struck down his student loan forgiveness plan. Biden had hoped to move quickly canceling people's student debt, promising people the relief within six weeks of them completing their paperwork. Unlike Biden's first attempt to forgive student debt quickly through an executive order, this time he's turning to the rulemaking process. It's unlikely that Biden's Plan B for student loan forgiveness will be successful, Kantrowitz said. He expects the president's second attempt at forgiving student debt to be met by many of the same lawsuits as the first.

Persons: Joe Biden, Chip Somodevilla, overreach, John Roberts, Roberts, Biden, Lyndon B, Johnson, Chuck Schumer, didn't Biden, Herrine, Trump, Biden's, Kantrowitz, Luke Herrine Organizations: U.S . Department of Education, Republican, Supreme, GOP, South Carolina —, Job, Network Foundation, Biden, . Nebraska, Education Department, Higher, University of Alabama Locations: delinquencies, — Nebraska , Missouri , Arkansas , Iowa , Kansas, South Carolina, .

☆ Supreme Court strikes down Biden's student loan forgiveness plan
▼ + stars: | 2023-06-30 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Supporters of student debt forgiveness demonstrate outside the US Supreme Court on June 30, 2023, in Washington, DC. Olivier Douliery | AFP | Getty Images"Under the Secretary's plan, roughly half of all federal borrowers would have their loans completely discharged," Roberts wrote. How student loan forgiveness got to the Supreme CourtSupreme Court justices listen to arguments. watch nowTwo of those legal challenges made it to the Supreme Court: one brought by six GOP-led states — Nebraska, Missouri, Arkansas, Iowa, Kansas and South Carolina — and another backed by the Job Creators Network Foundation, a conservative advocacy organization. While the justices' decision largely matched the predictions of many legal experts, some saw it going another way, especially after the Supreme Court heard oral arguments for the two challenges to the president's plan at the end of February.

Persons: Olivier Douliery, Roberts, Persis Yu, who'd, Biden, Bill Hennessey, he'd, Grant, overreach, Jed Shugerman, Elizabeth Prelogar Organizations: AFP, Getty, U.S . Department of Education, Consumer, Student, Protection, Supreme, U.S . Department of Justice, Heroes, Republican, GOP, South Carolina —, Job, Network Foundation Locations: Washington ,, Missouri, delinquencies, U.S, — Nebraska , Missouri , Arkansas , Iowa , Kansas, South Carolina, Fordham

☆ Supreme Court decision on student loan forgiveness expected Friday
▼ + stars: | 2023-06-29 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Visitors with signs regarding student loan payments outside of the US Supreme Court in Washington, DC, US, on Tuesday, June 27, 2023. Al Drago | Bloomberg | Getty ImagesWhat's at stake in loan forgiveness decisionThe justices' ruling will determine whether the Biden administration can move forward with its plan to wipe out more than a quarter of the country's $1.7 trillion in outstanding federal student debt. Roughly 14 million people would have their student debt entirely cleared by the program, according to an estimate by higher education expert Mark Kantrowitz. Justices consider executive authority to cancel debtIn the cases, the justices examined whether Biden has the power to forgive so much student debt without authorization from Congress. The country was operating under an emergency declaration due to Covid-19 when the president rolled out his forgiveness plan.

Persons: Al Drago, Biden, Mark Kantrowitz, Grant, overreach Organizations: US, Bloomberg, Getty, Republican, Supreme, GOP, South Carolina —, Job, Network Foundation Locations: Washington , DC, — Arkansas, Iowa , Kansas , Missouri , Nebraska, South Carolina

☆ Why the Supreme Court still hasn't decided on Biden's student loan forgiveness
▼ + stars: | 2023-06-21 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Administration officials insist that he's acting within the law, pointing out that the Heroes Act of 2003 grants the U.S. secretary of education the authority to make changes to the federal student loan system during national emergencies. The need to prove so-called legal standing is designed to prevent people from suing against different policies and programs simply because they disagree with them. Meanwhile, the complaint by the Job Creators Network Foundation centers on two student loan borrowers who would be partially or fully excluded from the aid. "Barrett was vocally and deeply uncomfortable about ruling that any of the plaintiffs had standing," Shugerman said. At least one or two other conservative justices also seemed conflicted over the question of standing, Shugerman said, adding more reason to why the deliberation is taking time.

Persons: Biden, Schwinn, they'd, Barrett, Jed Shugerman, Amy Coney Barrett, Shugerman Organizations: Washington Post, The Washington Post, Getty, Administration, GOP, South Carolina —, Job, Network Foundation, Network, Fordham University, Boston University Locations: — Arkansas, Iowa , Kansas , Missouri , Nebraska, South Carolina

☆ Here are key things to know as Supreme Court nears decision on Biden's student loan forgiveness
▼ + stars: | 2023-06-16 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

The United States Supreme Court Building Geoff Livingston | Moment | Getty Images1. You'll be able to read the ruling on the Supreme Court's website, likely some time in the morning of decision day. A top Education Department official recently warned that resuming student loan bills without Biden's loan cancellation could trigger a historic rise in delinquencies and defaults. They said the decreased revenue for MOHELA, or the Missouri Higher Education Loan Authority, could leave the agency unable to meet its financial obligations to Missouri. Student loan borrowers gathered outside the U.S. Supreme Court on Feb. 27, 2023, the night before the court hears two cases on student loan forgiveness.

Persons: Geoff Livingston, Mark Kantrowitz, Kantrowitz, You'll, Biden, Elizabeth Prelogar, Prelogar, they'd, Mark, servicers, Amy Coney Barrett, James A, Campbell, Barrett wasn't, you've, Annie Nova Organizations: United States Supreme, Supreme, Department, Republican, GOP, South Carolina –, Job, Network Foundation, Missouri Higher Education Loan Authority, CNBC, U.S Locations: delinquencies, — Arkansas, Iowa , Kansas , Missouri , Nebraska, South Carolina, Missouri, Nebraska

☆ Student loan forgiveness: Senate passes bill to block Biden's program
▼ + stars: | 2023-06-01 | by ( Katie Lobosco | ) edition.cnn.com time to read: +5 min

Meanwhile, borrowers are still awaiting a Supreme Court decision, which will determine whether the student loan forgiveness program can take effect. In February, the Supreme Court heard two legal challenges to Biden’s student loan forgiveness program. Biden’s other student debt policiesBiden has extended the pause on federal student loan payments several times. The Biden administration has tied the restart date to the litigation over the separate student loan forgiveness program. New rules set to take effect in July could broaden eligibility for the Public Service Loan Forgiveness program, which is aimed at helping government and nonprofit workers.

Persons: Joe Biden’s, Democratic Sens, Joe Manchin, Jon Tester, Montana, Arizona Sen, Kyrsten, Jared Golden, Marie Gluesenkamp Perez, Biden Organizations: Washington CNN —, Senate, Republicans, Democratic, Maine, Washington Rep, Congressional, Office, Republican, Job, Network Foundation, Public, of Education Locations: West Virginia, Arizona, Texas

☆ Color of Change, pioneering racial-justice nonprofit, is plagued by allegations of sexual assault and bullying, ineffective leadership, and deep layoffs say sources
▼ + stars: | 2023-05-17 | by ( Sean Campbell | ) www.businessinsider.com time to read: +16 min

Misconduct by senior leadership was often ignored or glossed over, and choas led to high turnover. But behind the scenes, some staff members say the organization has been wracked with internal turmoil, ineffective leadership, and deep layoffs. Many sources said allegations of misconduct by senior leadership seemed to be ignored or glossed over, and a chaotic environment led to high turnover. The following day, Color of Change eliminated another 12 positions, and again, many of them were part of the union. (Color of Change did not report executive salaries on its 2020 tax filings and has not released its 2021 returns.)

☆ Adidas to Drop Opposition to Black Lives Matter’s Three-Stripe Logo
▼ + stars: | 2023-03-29 | by ( Joshua Kirby | ) www.wsj.com time to read: 1 min

An Adidas store in New York. Adidas AG said it would retract its opposition to Black Lives Matter’s bid to trademark its logo design, which the sportswear company had previously said was too similar to its own. Adidas will withdraw its challenge to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible, a spokesman for the German company said Wednesday.

Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes. "Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation's trademark application as soon as possible," the company said in a statement. The Black Lives Matter Global Network Foundation is the most prominent entity in the decentralized Black Lives Matter movement, which arose a decade ago in protest against police violence against Black people. Representatives of the Black Lives Matter group did not immediately respond to a request for comment Tuesday. A jury in that case decided in January that Thom Browne's stripe patterns did not violate Adidas' trademark rights.

☆ Adidas Ends Its Opposition to Black Lives Matter Logo
▼ + stars: | 2023-03-29 | by ( Trefor Moss | Joshua Kirby | ) www.wsj.com time to read: 1 min

The three-stripe Adidas logo has been in use for over 70 years, the company says. Adidas AG said it would drop its opposition to Black Lives Matter’s bid to trademark its logo design, which, like the sportswear company’s emblem, features three stripes. The German brand has in the past fiercely defended its logo design, which comprises three diagonal stripes, albeit with mixed success. The Black Lives Matter Global Network Foundation’s logo, which the advocacy group is seeking to trademark, consists of three parallel yellow lines on a transparent background.

☆ Adidas drops trademark complaint against Black Lives Matter
▼ + stars: | 2023-03-29 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

The German sportswear company said Wednesday it was dropping its opposition to an attempt by a Black Lives Matter campaign group to trademark a logo featuring three parallel stripes. “Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” a company spokesperson said in a statement. Adidas (ADDDF) filed a complaint with the United States Patent and Trademark Office on Monday, arguing that the foundation’s logo was “likely to cause confusion” with its own three-stripe logo featured on its apparel. Adidas retracted its complaint over fears that it could be seen as an objection to the cause of Black Lives Matter (BLM), Reuters reported, citing an unnamed source close to the company. The Black Lives Matter Global Network Foundation is a nonprofit organization that supports the wider BLM movement.

Trademark Office to reject an application for a Black Lives Matter trademark featuring three parallel stripes, arguing it could mislead the public. Adidas told the office in a Monday filing that Black Lives Matter Global Network Foundation Inc's yellow-stripe design would create confusion with its own famous three-stripe mark. Representatives for the Black Lives Matter group did not immediately respond to a request for comment Tuesday. The Black Lives Matter Global Network Foundation is the most prominent entity in the decentralized Black Lives Matter movement, which arose a decade ago to protest police violence against Black people. The Trademark Office gave the Black Lives Matter group until May 6 to answer.

☆ When will Supreme Court rule on Biden's student loan forgiveness plan? Here's what you need to know
▼ + stars: | 2023-03-03 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Payment pause on federal student loans is still ongoingFederal student loan payments have been on pause since March 2020, when the coronavirus pandemic first hit the U.S. and crippled the economy. The Department of Education in November said the bills would resume 60 days after the litigation over its student loan forgiveness plan resolves. If the justices allow student loan forgiveness to go through, many borrowers will never have to restart payments. "Sixty days will be enough to forgive student loan debt if the president's plan survives," Kantrowitz said. A ruling against student loan forgiveness isn't the end

☆ Biden's student loan forgiveness plan spurred these heated Supreme Court exchanges
▼ + stars: | 2023-03-02 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Justices on the bench hearing arguments about the student loan forgiveness program. Source: Bill HennessyThere were many tense moments Tuesday as the nine Supreme Court justices grilled the plaintiffs challenging the Biden administration's student loan forgiveness plan and the government attorney defending the policy. Six Republican-led states brought one lawsuit against the forgiveness plan, and conservative advocacy organization, the Job Creators Network Foundation, backed the second. Response to a 'once-in-a-century pandemic'The Heroes Act of 2003, which the Biden administration is using as its legal justification to carry out its student loan forgiveness program, authorizes the education secretary to "waive or modify" student loan programs during national emergencies to avoid borrower distress. Whether student loan forgiveness is 'fair'Supreme Court Justice Samuel Alito became frustrated with Prelogar at one point, accusing her of not answering his question on the fairness of the forgiveness plan.

☆ The Supreme Court heard Biden's loan forgiveness case today. Here's when we expect the court to rule on student loans.
▼ + stars: | 2023-02-28 | by ( Michelle Mark | ) www.businessinsider.com time to read: +6 min

The Supreme Court heard arguments on Tuesday over President Biden's student loan forgiveness plan. Both cases the Supreme Court heard on Tuesday are seeking to permanently block his policy from taking effect. But it wasn't until August of 2022 that Biden announced he would use the HEROES Act of 2003 to enact his long-promised student loan forgiveness plan. Biden's use of the HEROES Act to enact a vast student loan forgiveness plan caused immediate controversy. The Supreme Court heard oral arguments regarding two challenges to Biden's loan debt relief plan on Tuesday.

☆ A group challenging Biden's student-loan forgiveness in the Supreme Court this week says it's 'very clear' the relief is illegal: 'We feel very good about our case'
▼ + stars: | 2023-02-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Job Creators Network, one of the groups challenging Biden's student-debt relief in the Supreme Court, said it feels "very good" about its case. On Tuesday, the Supreme Court will hear arguments for two lawsuits that blocked the relief. Biden's administration and Democrats have pushed back on the plaintiffs' standing to sue. On Tuesday, the Supreme Court is taking on two lawsuits that paused Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Both of the lawsuits challenging Biden's plan said the broad debt relief is an overreach of that authority and should not be done without Congressional approval.

☆ Supreme Court to hear Biden’s student loan forgiveness arguments Tuesday. 3 things to know
▼ + stars: | 2023-02-27 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The Supreme Court on Tuesday will hear oral arguments over President Joe Biden's student loan forgiveness plan, starting a decision-making process that will affect the balance sheets of tens of millions of Americans. Long before the president acted, Republicans had criticized loan forgiveness as a handout to well-off college graduates. They also argued that the president didn't have the power to forgive consumer debt on his own without authorization from Congress. Dozens of Republican members of Congress have also filed briefs with the U.S. Supreme Court, arguing that the Biden administration's student loan forgiveness plan should be ruled unlawful. "Borrowers deserve better than to be treated like political pawns — lives and livelihoods are at stake."

☆ Biden's student-loan forgiveness is about to have its day at the Supreme Court. Here's everything you need to know.
▼ + stars: | 2023-02-25 | by ( Ayelet Sheffey | Oma Seddiq | ) www.businessinsider.com time to read: +8 min

The Supreme Court will hear two challenges to Biden's student-debt-relief plan on Tuesday. But the Biden administration has defended its legal authority and expressed confidence that the Supreme Court will uphold the plan. Prominent figures in the legal and political worlds have weighed in on the two high-profile Supreme Court cases in dozens of briefs filed to the Supreme Court. More than 170 Republican members of Congress have argued against Biden's relief, along with 17 Republican-led states, the US Chamber of Commerce, and over a dozen conservative-leaning advocacy groups. Millions of student-loan borrowers' financial futures hang in the balance.

☆ Supreme Court challenges to Biden student loan plan hinge on overreach, financial harm
▼ + stars: | 2023-02-02 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

The law is a product of the 9/11 terrorist attacks, and an earlier version of it provided relief to federal student loan borrowers impacted by the attacks. However, the states counter that the Heroes Act allows the Education secretary only to modify the federal student loan system to keep certain borrowers from being in a worse-off position with their loans because of a national emergency. In other words, higher education expert Mark Kantrowitz said, the states are asserting that Biden is using Covid as an excuse to pass his plan. The states also argue that Biden's plan would cause financial harm to their states, including a loss of profits for the companies that service federal student loans. The attorneys also denied the claim that the Biden administration was overstepping its authority, laying out the White House's argument that it is acting within the law under the Heroes Act of 2003.

☆ A conservative group blocked student-loan forgiveness because 2 borrowers wanted more relief than they qualified for. Here's why it thinks no one else should get to benefit from Biden's plan.
▼ + stars: | 2023-02-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

One of the cases involves two student-loan borrowers who sued because they didn't qualify for the full $20,000 amount of relief. "Extra breathing room for millions of Americans is on hold because of lawsuits brought by opponents of this Administration's student debt relief plan," the White House wrote on Twitter this week. Here are some standouts from the Job Creators Network's argument on why Biden's student-loan forgiveness should be blocked. The debt-relief plan demonstrates "gross over-inclusiveness"Leading up to the announcement of Biden's debt relief, many advocates and Democratic lawmakers were urging him to make the relief as expansive as possible, without any thresholds. "There was a national emergency that impacted millions of student borrowers," the official said.

☆ 2022 was the year the Overconfidence Man fell back to earth
▼ + stars: | 2022-12-29 | by ( Maureen Tkacik | ) www.businessinsider.com time to read: +22 min

Naturally, Elon Musk, the platonic ideal of the peculiar self-aggrandizing, self-parodying personality type that thrived during the Trump years and peaked during the pandemic, tops this list. By 2022, the media had pronounced him variously the next Warren Buffett, J.P. Morgan and Charles Koch. "bye bye @trussliz Congrats to lettuce", tweeted Putin's one-time stand-in Dmitry Medvedev, to which Elon Musk could not resist replying, "pretty good troll tbh." Elon Musk speaks at the 2020 Satellite Conference and Exhibition in March 2020. Elon MuskIt's weird to recall now that Elon Musk once seemed like, graded on the billionaire curve anyway, a net positive for a cursed American society.

☆ Supreme Court likely to 'dismantle' student loan forgiveness plan after it hears case, says Harvard law professor
▼ + stars: | 2022-12-20 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

The nine justices of the U.S. Supreme Court have scheduled the high-profile arguments over President Joe Biden's student loan forgiveness plan for Feb. 28, meaning borrowers suspended in uncertainty about the fate of their debts will at least know more soon. Two of those legal challenges have been successful in at least temporarily stopping the president's plan from going forward. The Biden administration has appealed those decisions, and the country's highest court has announced it will have the final say on the policy, which will remain on hold until then. Like other legal experts, Tribe doesn't have much hope that the plan will survive the Supreme Court. "It's basically put the program in deep freeze until it proceeds to most likely dismantle it," Tribe said.

[1/2] A view of the U.S. Supreme Court building on the first day of the court's new term in Washington, U.S. October 3, 2022. The Supreme Court on Dec. 1 said it would hear arguments on the legality of the debt relief program in the other case pursued by six mostly Republican-led states. Biden announced in August that the U.S. government would forgive up to $10,000 in student loan debt for borrowers making less than $125,000 a year, or $250,000 for married couples. Students who received Pell Grants to benefit lower-income college students would have up to $20,000 of their debt canceled. The Congressional Budget Office in September calculated that the debt forgiveness program would cost taxpayers about $400 billion.

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