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☆ Resist the temptation of AI and bet on safe defensive stocks, Wall Street analysts say
▼ + stars: | 2024-09-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

More analysts are recommending "defensive" shares over AI plays as macro conditions change. With some questioning the AI rally, investors could benefit from non-tech growth companies, an analyst said. Similar to BofA's call, Morgan Stanley's Mike Wilson last week called the AI theme "overcooked" and said investors should shift to defensive shares. But in tune with what others had said, Diton also touted that utilities stocks as one meaningful investment to make right now. As bullish on AI as he may be, he warned that the market has become extremely concentrated in tech's leading names, and investors need to diversify.

Persons: —, Morgan Stanley's Mike Wilson, Brad Conger, Hirtle Callaghan, Conger, Morgan Stanley's Wilson, Eric Diton, Diton Organizations: Service, Nvidia, P Global Semiconductor, Bank of America, Vanguard, JPMorgan, Wealth Alliance, Federal Reserve Locations: BlackRock

☆ Dark web researcher warned Columbus, Ohio, residents ransomware attack was bigger than mayor said. The city is suing him
▼ + stars: | 2024-09-15 | by ( Kevin Williams | ) www.cnbc.com time to read: +10 min

It appeared to be another typical ransomware attack that impacted the city of Columbus, Ohio, this past July. Connor Goodwolf (legal name is David Leroy Ross) is an IT consultant who plumbs the dark web as part of his job. So when word got out that the city of Columbus, his hometown, had been breached, Goodwolf did what he does: he poked around online. "Lawsuits against data security researchers are rare," said Raymond Ku, professor of law at Case Western Reserve University. Columbus City Attorney Zach Klein said during a September press conference that the case was "not about freedom of speech or whistleblowing.

Persons: Andy Ginther, Connor Goodwolf, David Leroy Ross, Goodwolf, Goodwolf's, Columbus Mayor Andrew Ginther, government's, Edward Snowden, Raymond Ku, Kyle Hanslovan, Huntress, Snowden, Hanslovan, Zach Klein, Scott Dylan, Dylan Organizations: Social, Columbus Mayor, Google, Rhysida Group, Columbus, Infrastructure Security Agency, CNBC, Case Western Reserve University, United, NexaTech Ventures, Goodwolf, Intel Locations: Columbus , Ohio, Ransomware, Columbus, Eastern Europe, Russia, U.S, United Kingdom, Goodwolf

As the Fed lowers its benchmark rate, mortgage rates are likely to go down. Mortgage rates often trend up or down ahead of expected Fed moves, but once a hike or cut is priced in, they tend to hold steady unless the Fed surprises everyone. Haymore also notes that mortgage rates could fluctuate depending on other information that comes out of this upcoming meeting. As it does, mortgage rates should trend down, too (as will the rates banks pay on high-yield savings accounts). If you got your mortgage more recently, you could save on your mortgage payment by refinancing.

Persons: —, Freddie Mac, Scott Haymore, Haymore, you've, Matt Baker, Baker Organizations: Service, Business, Fed, TD Bank, Mortgage Bankers Association, Navy Federal Credit Union

☆ Forget Edinburgh — we stayed in Glasgow. It was cheaper and less touristy, with gorgeous gardens and architecture.
▼ + stars: | 2024-09-15 | by ( Nicole Findlay | ) www.businessinsider.com time to read: +5 min

Read previewSure, Edinburgh has the castle atop the Royal Mile, but the often-overlooked Glasgow is just as fun, less crowded, equally beautiful, and offers plenty to do for families. Glasgow offers unique family attractionsEdinburgh has tons of tourist attractions, but Glasgow has its own set of treasures. We stayed at hotels in Glasgow and Edinburgh, with the former being substantially cheaper. AdvertisementAnd while Edinburgh is a smaller city, it attracts more tourists than Glasgow. In Edinburgh, we dodged the crowds as we walked up and down the Royal Mile and around other tourist hot spots.

Persons: —, Nicole Findlay, Calton, Nicole Findlay Glasgow, Ashton Lane, Harry Potter, Nicole Findlay's, Duke Organizations: Service, Business, Glasgow, Museum, Riverside Museum of Transport, Enoch Center, Waverly, Glasgow Science Center, Glasgow Cathedral, Pollok, Glasgow University, of, Edinburgh Glasgow, Glasgow Two Glasgow, Celtic, Rangers Locations: Edinburgh, Glasgow, Scotland, St, Firth, Clyde, Scottish, Ashton, Glasgow's, Ibrox, Wellington

☆ Stock futures are little changed as investors await major Fed decision: Live updates
▼ + stars: | 2024-09-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

A specials trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2024. Stock futures edged slightly lower Sunday night as investors await the Federal Reserve's highly anticipated policy meeting, during which central bankers are expected to cut rates for the first time since 2020. S&P 500 futures hovered below the flatline, while futures tied to the Dow Jones Industrial Average shed 4 points, or less than 0.1%. The S&P 500 is less than 1% away from its July record and could notch a new all-time high this week. Central bankers are set to meet on Tuesday and Wednesday and are widely anticipated to make their first interest rate cut since they began hiking rates in March 2022.

Persons: Brian Belski, Mills, Olive Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, BMO Capital, Darden, FedEx, homebuilder Locations: New York City, U.S, Olive Garden

☆ Trump and Harris are both fans of solar power. That's good news for these 4 stocks.
▼ + stars: | 2024-09-15 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

During the recent debate, both Vice President Kamala Harris and former President Donald Trump expressed their support for solar energy. Trump said he was a "big fan" of solar power, and Harris doubled down on her support for clean energy. Trump caveated his support of solar power, saying that solar plants take up "400, 500 acres of desert soil." AdvertisementInvesting in solarFor investors interested in increasing their exposure to solar energy solutions, Baker shares the following 4 investments. These companies provide solar power offerings across the entire renewable energy value chain.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Graeme Baker, Baker, David Bianco, she'll, Biden, He's Organizations: Service, Business, Environment, Big Tech, Microsoft, Green, Deal, Environment Fund

☆ A Fed rate cut may lend a helping hand to Chinese stocks. Or not.
▼ + stars: | 2024-09-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

By extension, the move in Washington, D.C. could also spell good news for Chinese stocks. High U.S. interest rates relative to China have made it fairly straightforward for global institutions to pick U.S. Treasurys over Chinese stocks. More than lower rates needed Other global investors say Chinese stocks need more than easier monetary policy to become truly attractive. The "government can push interest rates down, but if households don't want to spend the extra income, it won't go into the economy," he said. Earlier this year, People's Bank of China Governor Pan Gongsheng acknowledged U.S. Fed easing would create room for China to further cut interest rates.

Persons: Steven Sun, Laura Wang, Morgan Stanley, Aaron Costello, Yi Gang, Costello, James Wang, Wang, Pan Gongsheng Organizations: U.S . Federal Reserve, HSBC, HSBC Qianhai Securities, Nasdaq, U.S, Treasury, Cambridge Associates, CNBC, People's Bank of China, UBS Investment Bank Research, UBS, Hang Seng China Enterprises, China Southern Airlines, Hengli Petrochemical, Saudi, Aramco Locations: China's, Washington ,, China, 1H24, Asia, U.S, Beijing, Hang, Shenzhen, Shanghai

☆ Typhoon Yagi leaves at least 74 dead in Myanmar after flooding and landslides
▼ + stars: | 2024-09-15 | by ( Isaac Yee | ) edition.cnn.com time to read: +1 min

CNN —At least 74 people have died and scores more are still missing in Myanmar following heavy flooding and landslides caused by Typhoon Yagi, state media reported on Sunday. The flooding across the civil war-torn country has impacted more than 450 villages and wards, according to Myanmar News Agency (MNA). Images from news agency AFP showed submerged homes and vehicles in the city of Taungoo, an hour south of the capital Naypyidaw. Flood-affected residents line up for food at a temporary camp in Taungoo, Myanmar, on September 14, 2024. While developed nations bear a greater historical responsibility for the human-induced climate crisis, developing nations and small-island states are suffering the worst impacts.

Persons: Typhoon Yagi, Sai Aung, Yagi Organizations: CNN, Myanmar News Agency, AFP, Getty, Reuters, Thai Locations: Myanmar, Taungoo, Sai, AFP, Southeast Asia, China, Vietnam, Thailand

☆ Oracle gave a glimpse of the power AI has on its business. Where investors should look next
▼ + stars: | 2024-09-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

For the past three years, software stocks have suffered as revenue growth softened, and investors remain skeptical about when it will return. For Oracle, that's its cloud infrastructure — a service that has improved Oracle's fundamental growth story, Walravens argued. This strategic move positioned Oracle as a key player in AI, fueling growth in its infrastructure as a services (IaaS) business. Oracle Cloud Infrastructure is central to this growth, offering a suite of services for AI-driven workloads. SAP YTD mountain SAP stock performance year-to-date.

Persons: Raimo Lenschow, Pat Walravens, Walravens, Bernstein, Mark Moerdler, tailwinds, Goldman Sachs, Amy Hood, it's, Keith Bachman, Bachman Organizations: Oracle, Nvidia, Barclays, Investors, Software, Services, Microsoft, SAP, Citizens, CNBC, Google, Oracle Cloud Infrastructure, Microsoft Microsoft, AI Services, Wall, BMO

☆ Turkey's 'balancing act' with BRICS may stoke NATO fears, but the West needn't be too worried, analysts say
▼ + stars: | 2024-09-15 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +6 min

Read previewEarlier this month, a spokesperson for Turkey's ruling AK Party said that a process was "underway" for Turkey to join the BRICS group of emerging-market nations. He now appears to be seeking to maintain what experts have dubbed a "balancing act" between its relations with the West, Russia, and China. "Even if Turkey does join BRICS, I do not believe it is going to lead to a fundamental redefinition of Turkey's relationship with the West." Advertisement"Understanding and collaborating with Turkey's perspective can enhance US and NATO relations with Turkey, irrespective of potential administrative changes in Ankara," Can wrote in an article for the Wilson Center. For its part, the US has remained relatively quiet following the news that Turkey's BRICS ambitions may be inching forward, which Aydintaşbaş said was likely a savvy move aimed at avoiding a public dispute.

Persons: —, Omer Celik, Tayyip Erdoğan's, Aydintaşbaş, Erdogan, Bulent Aliriza, Yusuf, Aliriza, there's, Turkey's Organizations: Service, AK Party, Reuters, Business, United, Saudi, NATO, EU, West, Brookings Institution, Russia, China, Eurasia Program, Center for Strategic, International Studies, Middle, Wilson Center, Wilson, of Europe, France Locations: Turkey, Ankara, Turkish, Brazil, Russia, India, China, South Africa, Ethiopia, Iran, Egypt, United Arab Emirates, Saudi Arabia, Ukraine, United States, Europe, France, West, Russian, U.S, Washington, Kazan

☆ Floods in Romania kill at least four people as rain batters central Europe
▼ + stars: | 2024-09-14 | by ( ) www.nbcnews.com time to read: +4 min

VISNOVA, Czech Republic — At least four people died and thousands of homes were damaged by flooding in eastern Romania on Saturday, officials said, as surging river levels put authorities on alert in much of central and eastern Europe following days of torrential rain. Tens of thousands of households were left without power in Romania and the Czech Republic, where more rainfall is forecast in the coming days. Poland, Slovakia, Hungary, southern Germany and parts of Austria are also expected to see more heavy rain. Television images from the area showed streets flooded with muddy water, silt and debris as rescuers led residents to safety. Evacuations and blackoutsIn the Czech Republic, northern and northeastern areas bore the brunt of the deluge and 51,000 households had their electricity supply cut off, the CTK news agency said.

Persons: Marcel Ciolacu, ” Ciolacu, Petr Hladik, Roman Christof, ”, Charles, Tomasz Siemoniak, Donald Tusk, Chancellor Karl Nehammer, “, ” Nehammer Organizations: Czech Republic —, Prague Zoo, Czech Railways, ” Locations: Czech Republic, Romania, Europe, Poland, Slovakia, Hungary, Germany, Austria, Czech, Prague, Galati, Visnova, Brno, Bratislava, Lower Austria

☆ Three Americans are accused of trying to overthrow Congo's president. They're now sentenced to death.
▼ + stars: | 2024-09-14 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +6 min

Five years ago, while playing for the Copper Hills High School football team, Thompson met Marcel Malanga, the son of Christian Malanga. He proclaimed himself president of the United Congolese Party and railed against what he saw as vast government corruption in the DRC. On May 19, he assembled a ragtag band of a few dozen paramilitaries, leading them in an extraordinarily ambitious yet ultimately amateurish attempt to unseat Congolese president Felix Tshisekedi. Among them were Thompson, Malanga's son Marcel, and 36-year-old Benjamin Reuben Zalman-Polun, a convicted drug trafficker from Maryland. Videos taken in Kinshasa after the aborted coup showed Thompson being hit with the butt of a rifle by security forces.

Persons: Tyler Thompson, Miranda Thompson, Marcel Malanga, Thompson, Malanga, —, Brittney Sawyer, Matt Miller, “, Christian Malanga, Felix Tshisekedi, Vital Kamerhe, Malanga's, Marcel, Benjamin Reuben Zalman, Polun, Tyler, he’s, ”, Marcel Malanga's, Brittany Sawyer, ” Sawyer, Zalman Organizations: Democratic, BBC, —, State, Embassy, High School football, New, United Congolese Party, U.S . State Department, Associated Press Locations: Utah, South Africa, Democratic Republic of Congo, Congolese, DRC, U.S, British, Belgian, Canadian, Salt Lake City, American, Brussels, New Zaire, Maryland, Kinshasa, West Jordan , Utah, Congo

☆ Women in Iran going without hijabs as 2nd anniversary of Mahsa Amini’s death approaches
▼ + stars: | 2024-09-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

The country’s new reformist President Masoud Pezeshkian campaigned on a promise to halt the harassment of women by morality police. In Iran, the hijab — and the all-encompassing black chador worn by some — has long been a political symbol as well. There have been scattered videos of women and young girls being roughed up by officers in the time since. Surveillance cameras search for women uncovered in vehicles to fine and impound their cars. The government has gone as far as use aerial drones to monitor the 2024 Tehran International Book Fair and Kish Island for uncovered women, the U.N. said.

Persons: Mahsa Amini, there’s, Masoud Pezeshkian, Ayatollah Ali Khamenei, ”, Amini, Khamenei, Ebrahim Raisi, Pezeshkian, Hamid Zarrinjouei, “, Mohammad Movahedi Azad, Movahedi Azad, Ham Mihan, hadn’t, Simin Kazemi Organizations: United Nations, Tehran Sharif University, Metro, Pezeshkian, Iran’s, Iran’s Ministry of Culture Locations: it’s, Iran, Tehran, Tehran Sharif, Kish

☆ Slain Ugandan Olympian buried with full military honors
▼ + stars: | 2024-09-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

Ugandan Olympic runner Rebecca Cheptegei, who died after allegedly being doused in petrol and set alight by her former partner, was due to be buried on Saturday with full military honors. Three weeks later her former boyfriend, Dickson Ndiema Marangach, allegedly attacked Cheptegei as she returned from church with her two daughters and younger sister in the village of Kinyoro, Kenya police and her family said. “I don’t think I am going to make it,” she told her father while being treated in hospital, he said. Born in eastern Uganda in 1991, she met Marangach during a training visit to Kenya, later moving to the country to pursue her dream of becoming an elite runner. Marangach died a few days after Cheptegei, from burns allegedly sustained during the attack, dividing opinion among the local running community.

Persons: Rebecca Cheptegei, Cheptegei, Dickson Ndiema Marangach, Ferenc Isza, Joseph Cheptegei, ”, “, ” Andrew Kasuku, Marangach, marathoner Viola Cheptoo, Anne Hidalgo Organizations: Paris Olympics, Kenya police, Getty, Reuters, Kenyan, Tirop’s Locations: Kenya, Kinyoro, Budapest, Paris, AFP, Uganda, Thailand, Italy, “ Paris

☆ We ranked the latest earnings reports from 30 portfolio stocks from great to ugly
▼ + stars: | 2024-09-14 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter's debacle. Management also provided a better-than-expected sales, earnings, and recurring revenue outlook. The Good Abbott Laboratories : Sales, earnings and organic growth all exceeded analyst estimates. Broadcom : Sales and earnings outpaced expectations , driven by strong sales of its AI products and VMware software. Alphabet : Delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space.

Persons: we've, Lisa Su, —, Eli Lilly, Zepbound, Stanley Black, Stanley, Morgan Stanley, Procter, Jim Cramer's, Jim Cramer, Jim, Steve Marcus Organizations: Costco, DuPont, Club, Management, Nvidia, Palo Alto Networks, Good Abbott Laboratories, Broadcom, VMware, Wealth Management, Investment Management, Microsoft, Constellation Brands, TJX, Amazon Web Services, Coterra Energy, GE Healthcare, Honeywell, Gamble, Jim Cramer's Charitable, CNBC, AMD Locations: China, Covid, Dover, Eaton, Palo, North America, GEHC, Wells Fargo, Las Vegas , Nevada, U.S

☆ I dodged the crowds in Rome and visited a charming, underrated city just over two hours away
▼ + stars: | 2024-09-14 | by ( Carly Caramanna | ) www.businessinsider.com time to read: +1 min

Perugia is only about a two-hour drive from Rome, but it didn't feel as overrun with tourists. Go to newsletter preferences Thanks for signing up! You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementAfter visiting some of Italy's hot spots, like Rome, Venice, and Florence, I wanted to check out a lesser-visited city that a friend had recommended: Perugia. The city, which is only about a two-hour drive from Rome, is the capital of Central Italy's Umbria region.

Persons: —, it's Organizations: Service, Perugia, Business Locations: Perugia, Rome, Venice, Florence, Central Italy's Umbria

Lower interest rates may impact your investment portfolio following the Fed's first rate cut. "They get spooked by something like policy changes and sell out of a diversified investment portfolio. "Generally, lower interest rates boost the economy as lending gets cheaper for consumers and businesses, " says Eckles. However, as interest rates fall, the attractiveness of these cash investments declines. The inverse relationship between bond prices and interest rates means that as rates fall, bond prices rise, providing another return component.

Persons: Banks, Goldman Sachs, JP Morgan, Bakkum, Pam Krueger, annualized, Jaime Eckles, Plante Moran, doesn't, We've, Krueger, Cash Organizations: Federal Reserve

☆ Both parties court Navajo voters in battleground Arizona
▼ + stars: | 2024-09-14 | by ( Veronica Stracqualursi | ) edition.cnn.com time to read: +8 min

Window Rock, Arizona CNN —Nearing the end of the annual Navajo Nation parade route last Saturday, the Arizona Republican Party’s float — pulled by an 18-wheeler and adorned with Trump-Vance campaign signs — came to a halt. The Navajo Nation makes up the largest tribe in Arizona, with about 131,000 members, according to the US Census. A Marine veteran, Gallego said his ties to the Navajo Nation stem from his military veteran friends from the tribe. “I believe we have many strong, educated women, especially on the Navajo Nation. “Not everybody wants to help the Indigenous.”Her remote part of the Navajo Nation rarely gets visitors, let alone campaigns knocking on her door.

Persons: , Arizona CNN —, Vance, —, “, Joe Biden, Kamala Harris ’ ascendance, Gina Swoboda, Trump, ” Swoboda, ”, Swoboda, we’re, Harris, it’s, “ let’s, Ruben Gallego, Kari Lake –, Eli Crane, Jonathan Nez, Sen, Kyrsten Sinema, –, Myron Lizer, Gallego, Republicans don’t, that’s, ” Gallego, Danielle Doctor, Harris ’, Tom Ranger, Biden, Allie Young, Loretta Charley, they’re, “ Who’s Organizations: , Arizona CNN, Navajo, Arizona Republican, Trump, Arizona, Democrats, White, Senate, Arizona GOP, Republican National Committee, CNN, Republican Party, Tribal, Democratic, GOP, Navajo Nation Museum, Republicans, Marine, Voters, Republican, Biden, House Administration, US, Navajo Nation Locations: , Arizona, Arizona, Washington, Navajo Nation, Flagstaff, “, Apache, Navajo, Gallego, Phoenix, House, Rocky

☆ Moo Deng: Baby pygmy hippo is Thailand’s latest online sensation. But her keeper is worried about her fame
▼ + stars: | 2024-09-14 | by ( Kocha Olarn | Chris Lau | ) edition.cnn.com time to read: +3 min

Moo Deng gives her handler a good chew on the knee. One person poured water [on her] while another threw a shell onto Moo Deng when she lay on the floor,” he said. While she continues to draw admirers in person, Moo Deng has found her biggest stardom online. “This will be the time Moo Deng will be energetic as the keeper will splash the water around,” he said. Another good time would be in the afternoon when the keeper feeds her mother, as Moo Deng follows her around.

Persons: Deng, she’s, ” Narongwit Chodchoy, Moo Deng, Narongwit, Moo, ”, –, Aom, Napatsawan Balee, “ Haha, Jona, Tony Organizations: Bangkok CNN —, CNN, Facebook Locations: Bangkok, Thai, West Africa, Liberia, Sierra Leone, Guinea, Ivory Coast, Jona

☆ I've traveled to 109 countries. Here are 5 sporting events from around the globe that should be on everyone's bucket list.
▼ + stars: | 2024-09-14 | by ( Ash Jurberg | ) www.businessinsider.com time to read: +4 min

In fact, I've visited 109 countries and have attended major events like the Olympics, Grand Slam tournaments, and the World Cup. I've also attended a number of local sporting events in different countries, which have allowed me to meet new people, try different foods, and learn about cultural traditions. AdvertisementHere are five of the sporting events I've attended around the world that I think should be on everyone's travel bucket list. At many major sporting events, there are free fan events where people can gather to watch the game. My hometown in Australia is also an excellent place to check out local sporting events.

Persons: —, I've, Ash Jurberg, Jurberg, Roger Federer Organizations: Service, Business, Hanshin Tigers, Ice, University of Texas, Longhorn, Melbourne Locations: Japan, Finland, Helsinki, Bhutan, American, Texas, Australia

☆ Big stock sales from tight-lipped Berkshire Hathaway executives are saying a lot
▼ + stars: | 2024-09-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Top bosses at Berkshire Hathaway are usually tight-lipped about their market outlook, but recent investment actions from the executives are saying a lot. News broke earlier this week that Ajit Jain, the conglomerate's insurance chief for nearly 40 years, sold more than half of his Berkshire stake worth $139 million. That marked the biggest sale of Berkshire stock by the 73-year-old vice chairman of insurance operations since he was hired by Warren Buffett in 1986. He believes it would be "value-destroying" if he overpaid for Berkshire shares. But the magnitude of the sales could also suggest a bearish attitude toward the market and stock valuations.

Persons: Berkshire Hathaway, Ajit Jain, Warren Buffett, Jain, Ajit, Steve Check, Buffett, Brian Meredith, Meredith Organizations: Berkshire, Berkshire Class, Check Capital Management, Berkshire Hathaway, UBS, BNSF Railway, of America, Apple, Buffett, Bank of America Locations: Berkshire, Omaha, U.S

☆ The US is considering a sovereign wealth fund. Alaska already has one, and it's funding a universal basic income.
▼ + stars: | 2024-09-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Read previewBipartisan momentum is building around a sovereign wealth fund that could help the United States reduce its national debt or fund ambitious projects. And former President Donald Trump recently called for a similar state-owned investment fund to finance "great national endeavors" during a campaign stop at the Economic Club of New York. AdvertisementAlaska's fund offers benefits that mimic a universal basic income — a no-strings-attached, recurring payment distributed to people regardless of socioeconomic status. Federal lawmakers likely see a sovereign wealth fund serving a different purpose, like supporting industries or financing supply chain initiatives. Sovereign wealth funds — like Alaska's or Norway's Government Pension Fund Global, which is the largest in the world — are often funded by wealth generated from state-owned natural resources.

Persons: —, Joe Biden's, Donald Trump, Sarah Cowan, Winston Ma, Hunt, Ma Organizations: Service, White, Economic, of New, Business, Alaska Permanent Fund, NYU, Unicorns, Fund Locations: United States, of New York, American, Alaska

☆ 57% of Gen Zers want to be influencers—but 'it's constant, Monday through Sunday,' says creator
▼ + stars: | 2024-09-14 | by ( Gili Malinsky | ) www.cnbc.com time to read: +7 min

There are 4.2 billion social media users around the world, according to linking tool company Linktree's 2022 Creator Report. Williams has been a full-time creator since quitting her previous job as a data analyst in 2022. Williams usually starts working around 8 a.m., including emails, video editing and planning content. Their Facebook page has 5.7 million followers, their TikTok has 6.1 million followers and their YouTube page has 634,000 followers. There's not a single content creator I've ever talked to that hasn't dealt with online abuse."

Persons: they're, Victoria Bachan, Taylor Lorenz, it's, Hannah Williams, Williams, Caroline Lasher, Lasher, She'll, videographer, she'll, Leslie Mosier, Doug, Pug, Lorenz, There's, I've, hasn't, She's, she's Organizations: Whalar, NeoReach

☆ Bitcoin network hits record level of power, but falling profits push miners to AI
▼ + stars: | 2024-09-14 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

A bitcoin sign is seen in the main hall during the Bitcoin 2024 conference at Music City Center July 26, 2024 in Nashville, Tennessee. On the plus side, the cryptocurrency rose 12% in the past seven days and the network hash rate hit an all-time high. Hash rate refers to the collective computing power of all miners in the bitcoin network, and the recent high suggests there have never been more miners online, actively securing the network. Institutional capital has poured in since the SEC approved spot bitcoin exchange-traded funds in January, and the bitcoin network is more robust than ever, held together by a vast and decentralized network of miners securing transactions with the help of large banks of machines. The halving historically precedes a wave of bankruptcies among bitcoin mining firms, which are suddenly generating much less revenue with the same level of operating costs.

Persons: it's, Jefferies, bitcoin Organizations: Music City, Investment, SEC Locations: Nashville , Tennessee

A national debt crisisAmericans are facing a credit card debt crisis, with millennials and Gen Z at the forefront of the struggle. If you're a consumer with average credit who tends to carry a credit card balance, McCarthy recommends seeking options for lower-interest repayment. If the Fed lowers interest rates as anticipated, you can expect personal loan interest rates to drop slightly, regardless of your credit score. "Many consumers struggling with high-interest debt have expressed confusion surrounding credit card APRs, and credit card companies are happy to keep it that way." "Many consumers believe that making the minimum payment is an effective way to manage their credit card debt," Elliot said.

Persons: —, Z, James McCarthy, McCarthy, Jeremy Schneider, Schneider, Sophia Bera Daigle, Daigle, you've, Mark Elliot, Elliot Organizations: Federal, Service, Federal Reserve, Consumer Financial Protection Bureau, National Foundation, Credit, JPMorgan Chase, Capital Locations: millennials, U.S

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