DIRS.INFO The most relevant business & tech news

☆ CNBC Daily Open: Markets need time to digest the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, –, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

☆ 'Fertile hunting ground': Portfolio manager names 9 stocks to cash in on India's growth
▼ + stars: | 2024-09-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.

Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S

☆ Eldest-Daughter Syndrome Is Real; Big Sisters Do More, Studies Say
▼ + stars: | 2024-09-19 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +13 min

But there may be more of a science to eldest daughters than meets the eye. When a mother needed help, biology caused her eldest daughter to step up and mature faster to provide that help. Most striking of all, maternal distress was not found to speed up adrenal puberty in sons or younger daughters. "I have a closer relationship with her, to this day, than I do with many of my other older siblings," he said. His wife grew up as part of a similarly large brood — and her eldest sister had a similar experience.

Persons: Lisa Doucet, Albert didn't, Doucet, Albert, I'm, " Doucet, babysitters, they'd, Molly Fox, Fox, Pamela Jakiela, aren't, isn't, Jonathan Westover, Mary Poppins —, Westover, We're, —, Lenette Azzi, Lessing, Jakiela Organizations: University of California, Fox, Center for Global Development, Williams College, University of Essex, Child, Utah Valley University, Boston University, Child Welfare League of America Locations: Rhode Island, Providence, TikTok, Los Angeles, Kenya, Utah

☆ Seeing signs of softness, not accelerating weakness in small businesses: BofA's Liz Everett Krisberg
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeeing signs of softness, not accelerating weakness in small businesses: BofA's Liz Everett KrisbergLiz Everett Krisberg, head of Bank of America Institute, joins 'Squawk Box' to discuss the results from the bank's small business survey, impact of the Fed's interest rate decision on small businesses, state of consumer spending, and more.

Persons: Liz Everett, Liz Everett Krisberg Organizations: Bank of America Institute

☆ The Fed finally cut interest rates. Here's what comes next.
▼ + stars: | 2024-09-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

The Federal Reserve didn't hold back when it cut interest rates for the first time in more than four years. In a press conference after the announcement, Powell said he believes the economy is moving in the right direction. iStock; BISo what does this rate cut mean for … everything? Our colleagues at Personal Finance Insider have covered the eventual impacts the rate cut will have on various financial products. Let's start with mortgage rates, since that's an area people naturally think of when it comes to interest rates.

Persons: —, Jerome Powell, Powell, you'll, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Federal, Business, Finance Locations: New York, London

☆ A millennial couple who moved from Colorado to Massachusetts explains why it's much more expensive — and why they don't regret it
▼ + stars: | 2024-09-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

They were lucky enough to lock in a 2.79% mortgage rate when they bought it — the average 30-year fixed mortgage rate is over 5% today. However, one non-financial factor began to lure the couple away from Colorado: family. Due to Massachussets' "higher cost of living," Nicole said the move has had a significant impact on their finances. For these people, buying a new home could mean taking on a significantly higher mortgage rate and monthly mortgage payment than they previously had. Lastly, while they live closer to family, Nicole said this hasn't saved them money on childcare.

Persons: —, Nicole Stanley, Jacob, Nicole, who's, Jacob don't, Jacob aren't Organizations: Service, Business, . Colorado, Denver, BI Locations: Denver, Aurora , Colorado, Colorado, Mattapoisett , Massachusetts, Massachusetts, New York, California, — Massachusetts, Massachuseets

☆ Sindh, Pakistan: Police fatally shoot blasphemy suspect in second such killing in a week
▼ + stars: | 2024-09-19 | by ( Associated Press | Story The | ) edition.cnn.com time to read: +4 min

Karachi, Pakistan — Police in southern Pakistan shot dead a blasphemy suspect during an alleged shootout with armed men, officials said Thursday, the second such apparent extra-judicial killing in a week, drawing condemnation from human rights groups. Videos circulating on social media showed local clerics throwing rose petals at police and praising officers for killing the blasphemy suspect. There was no immediate clarification from the Sindh government about the circumstances in which the suspect was killed. The latest killing comes a week after an officer opened fire inside a police station in the southwestern city of Quetta, fatally wounding Syed Khan, another suspect held on accusations of blasphemy. Pakistan has witnessed a surge in attacks on blasphemy suspects in recent years.

Persons: Shah Nawaz, Mohammed, Niaz Khoso, Nawaz, “, Khoso, ”, HRCP, Syed Khan, Khan, Mohammad Khurram, —, Islam Organizations: Pakistan — Police, Police, Local, Human Rights Locations: Karachi, Pakistan, Umerkot district, Sindh province, Mirpur Khas, Sindh, Umerkot, Quetta, Madyan, Punjab, Jaranwala

In a little over a month, they will learn whether they have won of one of the most coveted competitions for emerging designers: The Council of Fashion Designers of America/Vogue Fashion Fund. It provides 10 finalists with access to industry leaders, with mentorship on everything from growing their brands to showing at New York Fashion Week. “The fashion fund is also beyond the tangible mentorship or grant, it’s a visibility play,” the CEO said. “The first fashion fund was the reason we started doing runway shows,” he said. Rogers and past finalist House of Aama will be taking their designs to the CFDA/Vogue Americans in Paris Initiative during Paris Fashion Week.

Persons: —, Proenza Schouler, Thom Browne, Browne, Anna Wintour, Roopal Patel, Steven Kolb, There's, Grace Ling, Ling, ”, Kolb, Sebastien, Marianne Amisial, Sebastien Ami, “, “ It’s, Christopher John Rogers, Michelle Obama, Tracee Ellis Ross, Rogers, Shawn Grain Carter, Michael Kors, ” Jackson Wiederhoeft, prepping, Wiederhoeft, Tommy Hilfiger, Rebecca Henry of House, Aama, she's, what's Organizations: New York, Fashion Designers of America, Vogue, Fund, Saks, American, Pacific Islander, Associated Press, Fashion Institute of Technology, Paris Initiative, Paris Locations: New, U.S, Singapore, ” Louisiana, Bushwick, Soho, Paris, Manhattan, ”

☆ Opinion | The Fed’s Big Rate Cut Wasn’t Political. It Was an Economic No-Brainer.
▼ + stars: | 2024-09-19 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

In one sense, you could say that Wednesday’s decision by the Federal Reserve to cut rates was of minimal importance. The interest rate the Fed more or less directly controls — the federal funds rate — is the rate at which banks lend one another money overnight. For one thing, Fed rate changes tend to percolate into longer-term interest rates that really do matter for the economy. For example, the series of rate hikes the Fed undertook in 2022 and 2023 drove 30-year fixed mortgage interest rates up to almost 8 percent from about 3 percent. Most of their decisions are based on the same data about unemployment, inflation and so on available to anyone with an internet connection.

Persons: Jerome Powell, don’t Organizations: Federal Reserve

☆ This trade was the biggest post-Fed winner
▼ + stars: | 2024-09-19 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

It looks like small caps were the winning trade following the Federal Reserve's supersized rate cut on Wednesday . With that, the fund has climbed 3.1% this week and 10.2% in the third quarter alone, double the return of the S & P 500 in each period. Large-cap stocks easily outperformed small caps in five of eight instances when the Fed was lowering rates, small caps outperformed twice and in one case, 1995, there was virtually no difference. Regime Indicator to 'Downturn' all support our preference for large vs small [stocks]," the analysts wrote. In Thursday's session, the S & P jumped 1.7% to a fresh all-time high, topping the 5,700 mark for the first time.

Persons: Russell, Clinton Organizations: Fed, Strategas Securities, Federal, Bank of America, U.S

☆ The Fed's 50 basis point rate cut won't do anything to stop a recession, economist David Rosenberg says
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Fed's big rate cut won't stop a recession, economist David Rosenberg says. Rosenberg's bearish call comes one day after the Federal Reserve delivered a jumbo 50 basis point interest rate cut, the Fed's first rate cut since 2020. AdvertisementBut Rosenberg isn't backing down, likening 2024 to 2007, right before the economy slowed and entered a painful recession. He added: "Half the country is in recession right now when we apply data science to the commentary." AdvertisementAs for the soaring stock market, Rosenberg says investors should heed the warning signs coming out of the bond market.

Persons: David Rosenberg, He's, Rosenberg, —, Rosenberg's Organizations: Service, Federal Reserve, BLS

Business vs. personal bank account interest rates at brick-and-mortar banks*Regional differences are possible at Regions Bank. Rates are as of July 22, 2024.Business vs. personal bank account interest rates at online banksPersonal bank accounts at online banks generally pay more than their business banking options. Business vs. personal bank account interest rates at credit unionsCredit unions also tend to offer competitive rates on business and personal bank accounts. Comparing account fees and accessibilityOpening a business bank account involves more documentation than opening a traditional bank account. Business vs. personal banking FAQsWhy might business savings accounts offer different interest rates than personal accounts?

Persons: you'll, Sophia Acevedo, Sophia, Axel Springer, Education Sophia Organizations: U.S . Bank, Business, Regions Bank, American, Consumers Credit Union, Federal Reserve, Finance, Bank, Savings, Education, California State University Fullerton, National Association of Hispanic Journalists, Angeles Locations: Florida, Alabama, U.S, Illinois, Wisconsin, California

☆ This was the best news I've heard from the Fed in years, says Wharton's Jeremy Siegel
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis was the best news I've heard from the Fed in years, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the Fed's interest rate decision, why he was 'pleasantly surprised' by the 50 basis point cut, rate path outlook, and more.

Persons: I've, Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

☆ JPMorgan's junior bankers just gained an ally in their fight against overwork. Here's what we know about the longtime exec tapped to advocate for them.
▼ + stars: | 2024-09-19 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

Read previewLast week, JPMorgan Chase announced that it would be seeking to limit junior bankers' work hours to 80 per week to tackle concerns over unhealthy working conditions. "So a lot of investment bankers — they've been traveling all week. Jamie Dimon on Tuesday addressed Ryland McClendon's new job ScreenshotThe investment banker's daughterMcClendon grew up near Atlanta, Georgia with her parents and three siblings. AdvertisementIn a 2023 episode of JPMorgan's "Women on the Move" podcast, McClendon said her career path has been heavily influenced by her parents. AdvertisementIn the 2023 podcast, McClendon said she likes to use storytelling as a tool to educate because it can be more effective than numbers alone.

Persons: —, Ryland McClendon, Leo Lukenas, Lukenas, McClendon, Michael Nagle, Jamie Dimon, Dimon, aren't, — they've, It's, Ryland McClendon's, Raymond J, Pryor, Ryland, Marion Barry, SunTrust Robinson Humphrey, we've, what's Organizations: Service, JPMorgan Chase, CNBC, JPMorgan, Business, of America, Getty, Bank of America, Georgetown University, Hartsfield, Jackson Atlanta International Airport, Washington D.C, Duke, econ, Wall Locations: Atlanta , Georgia, Atlanta, Washington, Florida

☆ Treasury yields rise as investors digest Fed’s jumbo rate cut
▼ + stars: | 2024-09-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last less than one basis point higher to 3.6127%. U.S. Treasury yields were higher on Thursday as investors digested the Federal Reserve's decision to cut interest rates by 50 basis points on Wednesday. The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75%-5%. The size of the cut was in line with market expectations, which had shifted from expecting a 25 basis point cut to a bigger 50 basis point one in recent days. Elsewhere, the Bank of England is set to announce its latest interest rate decision.

Organizations: Treasury, U.S, Federal Reserve, Bank of England Locations: U.S

"Food Wars" hosts Harry Kersh and Joe Avella travel across Las Vegas to find the best steakhouse in the city. They'll be visiting three locations in just one day to see what the city has to offer. This is "Food Tours." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Persons: Harry Kersh, Joe Avella Organizations: Business Locations: Las Vegas

☆ Don't let Abbott Labs' litigation overhang keep you out of the stock
▼ + stars: | 2024-09-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer has been debating swapping Morgan Stanley for Goldman Sachs , which he argued is a "cheaper and better" bank option. 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.

Persons: Jim Cramer, Morgan Stanley, Goldman Sachs, Jim, Lisa Su, Su, Piper Sandler, Abbott, Stocks, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Dow, Nvidia, Micro Devices, Micro, AMD's, Abbott Labs, Darden, AMD Locations: Turin

☆ I'm a retired pilot who worked for royalty. I had no idea how the rich spent their money.
▼ + stars: | 2024-09-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewThis as-told-to essay is based on a conversation with Kent Davis, a retired Air Canada pilot with more than 40 years of experience. AdvertisementA prime minister, movie stars, and royaltyIn 1972, I joined Air Canada and spent 33 years flying for them. In 2005, I retired from Air Canada and was hired by Prince Alwaleed Bin Talal, a Saudi prince based in Riyadh. Kent Davis flew Prince Al Waleed bin Talal (pictured) and his family around the world. I'm mostly retired now, except for some consulting work with my company, Trans Global Aviation Solutions.

Persons: —, Kent Davis, Prince Alwaleed Bin Talal, Prince Al Waleed bin Talal, CHRISTOPHE ENA, George W, Bush, I'm Organizations: Service, Air Canada, Business, Aviation, Royal Canadian Navy, Navy, Airbus, Boeing, Air India, Trans Global Aviation Solutions Locations: Montreal, Saudi, Riyadh, New York, Republic of Georgia, Greater Caucasus

☆ My kids go to a preschool we can't afford. We chose to sacrifice our budget for their early education.
▼ + stars: | 2024-09-19 | by ( Jessica Tzikas | ) www.businessinsider.com time to read: +4 min

Growing up, I felt that I had a well-rounded childhood, and I try to mirror this for my own kids. I went to a private schoolMy childhood started in a private preschool setting and in many ways, I feel as though that experience led me toward a successful path in terms of social connections and education. When I had children of my own, sending them to a similar preschool was a high priority for me. AdvertisementSuddenly, sending both of our daughters to this wildly expensive preschool was no longer something we could just do. AdvertisementSchool gave them a lot more than educationAt first, I chose to send them to private preschool for their early education and social learning, but in the end, it became so much more than that.

Persons: wouldn't Organizations: Service

☆ The Fed’s rate cut had nothing to do with politics. That’s not holding politicians back
▼ + stars: | 2024-09-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But in his own way (very demure, very mindful) that is what happened Wednesday when he announced the Fed’s first rate cut in four years, a giant half-point reduction that will lower the cost of borrowing and offer financial relief for consumers and businesses. Whenever a reporter asks him about politics, Powell refuses to bite. Like on Wednesday, when he was asked whether the half-point rate cut had political motivations, he responded with something approaching exasperation. It’s just maximum employment and price stability on behalf of all Americans.”Of course, that’s unlikely to stop either party from using the rate cut news to their advantage, given that the economy is the No. Trump can continue to claim that a rate cut is a sign the economy is weak.

Persons: CNN Business ’, Jerome Powell, That’s, ” Powell, “ We’re, Republican Sen, Tommy Tuberville, “, Kamala Harris, ”, it’s, It’s, Jason Furman, Donald Trump, they’re, Pubkey, ” Trump, Powell, He’s, Joe Biden, Powell isn’t, Barack Obama, don’t, Harris, Biden, Steve Sosnick Organizations: CNN Business, New York CNN, Republican, CNN, Trump, Fed’s, Governors, Interactive Brokers, Fed Locations: New York, America, Alabama, New York City, Trump

☆ We need 'social prescriptions' just as much as traditional medicine, author of 'The Connection Cure' says
▼ + stars: | 2024-09-19 | by ( Renée Onque | ) www.cnbc.com time to read: +6 min

The best way to approach health care, in addition to traditional medicine, in Hotz's opinion, is social prescribing. This is the future Julia Hotz, author of " The Connection Cure ," hopes will become a reality in every country. Or you can create your own art to channel some of the heavy emotions you're feeling into something beautiful. Search for belonging when you're feeling lonelyOne of the most fundamental human needs is to have a sense of belonging, Hotz says. "Instead of replacing other kinds of medicine, social prescriptions complement them," Hotz wrote in her book.

Persons: Hotz, Julia Hotz Organizations: Solutions, Research, Harvard, CNBC Locations: U.S

☆ iPhones are suggesting people 'Check In' with their exes. Yikes!
▼ + stars: | 2024-09-19 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

Instead of Check Ins only being set up manually, people are getting suggestions popping up on their iPhone screens to remind them to set up a Check In — with random contacts, like exes and bosses. Some people are getting "Check In" suggestions on their iPhones. But the suggestion isn't mutual — Max told me he sometimes gets a suggestion to Check In with his upstairs neighbor. AdvertisementIt's possible to turn off "Siri Suggestions" in both Messages and Maps — which might stop this feature. But this would also mean any other helpful Siri suggestions you like would get turned off.

Persons: you've, We've, Max, Siri, we're, They're, Apple, Kylie Robison, Robison, John Organizations: Service, Business, Apple

☆ It's important to learn from history: Jim Cramer on which stocks perform best after rate cuts start
▼ + stars: | 2024-09-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's important to learn from history: Jim Cramer on which stocks perform best after rate cuts start'Mad Money' host Jim Cramer looks at what stocks tend to perform well once the Fed starts cutting rates.

Persons: Jim Cramer

☆ Your taxes are going up in 2026, according to Morgan Stanley. Here are 5 tax-advantaged trades to make.
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.

Persons: —, Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City

☆ Schumer takes steps to prevent shutdown as Speaker Johnson’s next move unclear
▼ + stars: | 2024-09-19 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +4 min

GOP presidential nominee Donald Trump has called for Republicans to shut down the government if they can’t pass the voting measure known as the SAVE Act. Many Democrats are pushing for an extension into December that would not include the SAVE Act, which is viewed as a non-starter in the Senate. “House Republicans don’t seem to have any plan for actually keeping the government open, so the Senate will step in,” Schumer said in floor remarks. “Many Republican House members, as many of you have reported, are smart enough to know if there is a shutdown, it will be a Republican shutdown. There never is a shutdown — hardly ever is a shutdown,” said Senate Majority Whip Dick Durbin, a Democrat from Illinois.

Persons: Chuck Schumer, Mike Johnson, Johnson, “ I’m, ” Johnson, we’ll, John Thune, Thune, ” Schumer, Schumer, “, ”, Donald Trump, Republicans don’t, ” “, I’m, ” Trump, isn’t, Dick Durbin, CNN’s Morgan Rimmer Organizations: Washington CNN, GOP, CNN, Republicans, SAVE, “, Trump, Truth, Republican Locations: Illinois

Search resuls for: "Best Local Bank Mechanics

25 mentions found