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"I think if they implement those policies, we'll see a crash in the markets, no question about it." Meanwhile, Harris previously endorsed the tax increases proposed by Biden that include a 25% tax on unrealized gains for households worth at least $100 million, known as the billionaire minimum tax. However, people close to the Harris campaign, including investor Mark Cuban, have said she has no interest in taxing unrealized gains and there are doubts if any such plan could make it through Congress. The 68-year-old investor believes the economy could quickly tip into a recession as well if the specific plan to tax unrealized gains were to be implemented. The investor also said the lower taxes would spark economic gains that help raise revenues and close the deficit gap.
Persons: John Paulson, Donald Trump, Kamala Harris, Paulson, Sara Eisen, Joe Biden, Harris, Biden, Mark Cuban, , Trump Organizations: Democratic, Trump, CNBC
CNN —Most likely voters in six key battleground states express at least some confidence in their state’s election process, according to recent CNN polling conducted by SSRS. But far fewer of them have high confidence in the process, with that mistrust driven largely by voters who support former President Donald Trump. And sizable shares of Trump voters lack even modest confidence in the system. Harris supporters’ expressions of confidence in the election process come amid a campaign that many of her backers view as a referendum on democracy itself. By contrast, only 9% of Trump supporters, on average, say the same.
Persons: Donald Trump, Trump’s, Kamala Harris, Trump, Harris Organizations: CNN, SSRS, Trump, Republican, ABC, Labor Locations: – Arizona, Georgia, Michigan, Nevada , Pennsylvania, Wisconsin, Arizona, Wisconsin . Wisconsin, Pennsylvania, Nevada, Peach State, Arizona , Georgia
How oil-rich Arkansas became a hotbed of lithium mining
  + stars: | 2024-09-13 | by ( Lisa Setyon | In | ) www.cnbc.com   time to read: +3 min
The future of lithium production in the U.S. is gaining momentum in Arkansas, as companies like ExxonMobil , Albemarle, and Standard Lithium make significant investments in the state. While most of the world's lithium still comes from countries like Australia, Chile and China, Arkansas could change that. Standard Lithium, which has operated in Arkansas since 2020, is also expanding its Direct Lithium Extraction (DLE) facility in El Dorado, thanks to a $100 million investment from Koch Strategic Platforms. Still, companies like Albemarle and Standard Lithium told CNBC they remain optimistic about Arkansas' potential to become a key player in the global lithium market. "The United States has to step up," said Robert Mintak, CEO of Standard Lithium.
Persons: Wesley Hamilton, Shon Hiatt, Robert Mintak, We've Organizations: United States Geological Survey, Energy, Exxon Mobil, Koch, Business, University of Southern, Atlantic Council, CNBC Locations: U.S, Arkansas, Albemarle, Australia, Chile, China , Arkansas, El Dorado, University of Southern California, China, United States
Americans' net worth hit a record $163.8 trillion in Q2, driven by a surge in real estate and stock prices. Data from the Federal Reserve shows a nearly 2% increase In net worth from Q1, with real estate leading the gains. Record highs in Americans' net worth could drive a "wealth effect" that leads to the economy's continued resilience. AdvertisementNew data from the Federal Reserve reveals that Americans are the richest they've ever been. A $1.8 trillion increase in real estate valued and a $700 billion gain in stocks drove the increase.
Persons: , David Rosenberg, " Rosenberg, It's Organizations: Federal Reserve, Service, National, Census Locations: States
Michigan and Wisconsin are looking like the best of the bunch for Harris, according to the campaign’s internal numbers. As pumped as Harris aides are about her debate performance earlier this week, they don’t think it changed any of that. “There’s a quiet confidence and security in what we’re doing and the mission, but no one thinks we have this in the bag,” said a Harris campaign aide. We’ll definitely be having some fun,” an Obama aide told CNN. The former president will kick off his work at a fundraiser he’s hosting for Harris next week in Los Angeles.
Persons: Jen O’Malley Dillon –, Joe Biden, Kamala Harris –, Biden, Harris, O’Malley Dillon, Trump, Liz Cheney, , , “ It’s, ” Harris, Swift, Beyoncé, You’ve, Oprah Winfrey, goading Trump, Tim Walz, Vance, David Plouffe, Barack Obama’s, — carryover Biden, Obama, O’Malley, Plouffe, Hillary Clinton, Dan Kildee, he’s, they’re, ” Kildee, , influencers, Michelle Obama, ‘ There’s, — Harris, aren’t, won’t, Ben Wikler, ” Mitch Landrieu, panicking, she’s, ” Landrieu, there’s Organizations: CNN, Trump, Harris, GOP, National Association of Black Journalists, Philadelphia, Democratic, Naval, Republican National Committee, New, Biden Locations: Wilmington, North Carolina, Arizona, Nevada, Georgia, . Michigan, Wisconsin, Chicago, Miami , New Orleans, Indianapolis, Pittsburgh, Michigan, Washington, Los Angeles, New Orleans
But as a general rule, economists tend to agree that, for U.S. consumers, higher tariffs tend to mean higher prices. "They'll be buying things at higher prices than they otherwise would." Still, a number of organizations say that Trump's new tariff policy would have a negative tangible effect on American consumers' finances. Plus, financial experts say a more aggressive tariff policy could be viewed as a form of economic saber-rattling. It tends to lead to higher prices for consumers in both countries."
Persons: Trump, Howard Gleckman, Kamala Harris, Biden, Donald Trump, Harris, George Ball, Sanders Morris, Clark Bellin, Sam Millette Organizations: Urban, Brookings Tax Policy Center, CNBC, U.S, Trump, U.S ., American Progress, Peterson Institute for International, Commonwealth Financial Network Locations: China, U.S,
If it expires, the estate and gift tax exemption will fall by about half. The tightening presidential race has touched off a wave of tax planning by ultra-wealthy investors, especially given fears of a higher estate tax, according to advisors and tax attorneys. With Harris and Trump essentially tied in the polls, the odds have increased that the estate tax benefits will expire — either through gridlock or tax hikes. The biggest question facing wealthy families is how much to give, and when, in advance of any estate tax change. If they do nothing, and the estate exemption drops, they risk owing taxes on estates over $14 million if they die.
Persons: Robert Frank, Donald Trump, Kamala Harris, Harris, Trump, Pam Lucina, Lucina, Mark Parthemer, it's, Parthemer Organizations: Democratic, Republican, Northern Trust Locations: Florida, Glenmede
NEW YORK (AP) — Shares of Trump Media & Technology Group Corp. jumped Friday after former President Donald Trump said he won't sell shares of the social media company. Trump owns nearly 115 million shares of the company, according to a recent filing with the Securities and Exchange Commission. The former president can start selling shares of Trump Media, the parent company of Truth Social, starting on Sept. 19 when a lockup provision ends, if he chooses to do so. Trump created Truth Social after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot. Based in Sarasota, Florida, Trump Media has been losing money and struggling to raise revenue.
Persons: Donald Trump, ” Trump, Trump, Kamala Harris Organizations: Trump Media & Technology Group Corp, Trump, Securities and Exchange Commission, Trump Media, Truth, Nasdaq, Twitter, Facebook, Capitol, Associated Press Locations: Los Angeles, Sarasota , Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil market malaise due to weakening manufacturing around the world, says S&P Global's Dan YerginDan Yergin, S&P Global vice chairman, joins 'Squawk Box' to discuss why oil prices are at such low levels, the longer term outlook for oil prices, and much more.
Persons: Dan Yergin Dan Yergin Organizations: Email, P Global
Washington CNN —Americans are feeling a greater sense of optimism about the US economy this month, thanks to slower inflation. Voters also see a greater likelihood that Vice President Kamala Harris will defeat former President Donald Trump in the upcoming November election. The University of Michigan’s latest consumer survey, released Friday, showed that Americans’ attitudes toward the economy improved notably this month, rising 2% from August, according to a preliminary reading. That broke a monthslong spell of consumer sentiment mostly holding steady, aside from a modest increase last month. Expectations for inflation rates in the year head declined for the fourth-straight month in September, according to the report, reaching its lowest reading since December 2020.
Persons: Kamala Harris, Donald Trump, ” Joanne Tsu, , Harris, Trump Organizations: Washington CNN, University of Michigan’s, Consumers, ABC
Future Coalition PAC has spent nearly $60,000 running several YouTube ads targeting Michigan, according to Google’s Ads Transparency Center. Each of the ads emphatically states Harris’ support for Israel, and many pointedly highlight her husband, Doug Emhoff, who is Jewish. “Kamala Harris is a strong leader for these difficult times. Kamala Harris and Doug Emhoff: making history, standing up for what’s right, supporting Israel.”Another one of the ads opens, “Vice President Harris has chosen a side, the right side. And joining Kamala will be her husband and top advisor, Doug Emhoff, who would be the first Jewish presidential spouse ever.
Persons: Kamala Harris’s, Harris, Doug Emhoff, Emhoff, Harris ’, , Biden administration’s, Joe Biden, Donald Trump ., “ Kamala Harris, Kamala, Kamala Harris, Benjamin, Netanyahu, she’ll, let’s, Cabell Hobbs, Ron DeSantis ’ Organizations: CNN, Republican, Israel, Future Coalition PAC, Democratic, Muslim, Future Coalition, DC, White, , Federal, Commission, Florida Gov Locations: Michigan, Gaza, Israel, Emhoff, Palestine, America
Rancho Palos Verdes, California CNN —Former President Donald Trump said Friday that he doesn’t control far-right agitator Laura Loomer, whom he described as a “free spirit” and “supporter.”“Laura’s been a supporter of mine, just like a lot of people are supporters, and she’s been a supporter of mine. I’m not sure why you asked that question, but Laura is a supporter. Pressed by Holmes that it’s his allies who have expressed concern, Trump said, “Look, I can’t tell Laura what to do. She’s got strong opinions, and I don’t know what she said, but that’s not up to me. She’s a supporter,” Trump said.
Persons: Donald Trump, Laura Loomer, ” “ Laura’s, she’s, I’m, Laura, ” Trump, Kristen Holmes, Holmes, Trump, , She’s, that’s, , I’ll, Loomer, Kamala Harris, Marjorie Taylor Greene Organizations: Rancho Palos, Rancho Palos Verdes , California CNN Locations: Rancho Palos Verdes , California, Southern California, Philadelphia
But now, the once-quiet Ohio town located between Dayton and Columbus has been catapulted out of obscurity for a wildly different reason. AdvertisementThe chaos reached a fever pitch on Tuesday night after Trump mentioned Springfield during his presidential debate with Vice President Kamala Harris. AdvertisementAn AI-generated image of former President Donald Trump carrying cats away from Haitian immigrants, a reference to falsehoods spread about Springfield, Ohio. Springfield, Ohio, has a population of a little under 60,000. halbergman/Getty ImagesOne of the good things, she added, is the work being done by some residents to support Haitians living there. Springfield's Haitian community, against their will, is the collateral damage.
Persons: , Sara Bear, Donald Trump, Kamala Harris, ziJmaDEPV3 — AJ Huber, Trump, REBECCA, Bear, ROBERTO SCHMIDT, Springfield —, Jessica Eikleberry, It's, Olivia Parkinson, Parkinson, Marjory Wentworth, Wentworth, Sen, JD Vance, Marco Lapaix, Lapaix Organizations: Service, Springfield, Business, BI, Springfield Facebook, Trump, Washington Post . Police, Hall, Getty, Facebook Locations: Springfield, Ohio, Dayton, Columbus, Springfield ., Haitian, Springfield , Ohio, Springfield's, Mexican, Nazi
Why Trump ditched a debate rematch – for now
  + stars: | 2024-09-13 | by ( Stephen Collinson | ) edition.cnn.com   time to read: +10 min
After Tuesday’s onstage meeting, Harris had said that she and her opponent owed it to voters to debate again. Harris’ senior campaign adviser, David Plouffe, blasted Trump on X as “chicken man.”The Republican nominee often changes his mind. He asked, “Wasn’t ‘The Apprentice’ a great show, though?” and wistfully reminisced about the final night of his election campaign in 2016. Will Trump stick to his refusal to debate Harris again? But Bryan Lanza, a senior Trump campaign advisor, insisted that this was a tactical decision.
Persons: Donald Trump’s, Kamala Harris, outdid, we’ve, It’s, ” Trump, Joe Biden, Trump, Harris, Trump’s, Harris ’, David Plouffe, , Arizona —, Biden, she’s, embroils Trump, Laura Loomer, Marjorie Taylor Greene, Loomer, denigrated Harris, there’ll, Democrats haven’t, Harris can’t, Dick Cheney, Liz Cheney, “ Harris, , – Trump, keener, , Melania Trump, JD Vance, Will Trump, president’s, Bryan Lanza, “ It’s, ” Lanza, President Trump, JB Pritzker, “ Donald Trump, ” Pritzker, Wolf Blitzer, “ Kamala Harris, Hillary Clinton, Alyssa Farah Griffin, ” Griffin, Donald Trump, , ’ ” Griffin Organizations: CNN, Democratic, Trump, Republican, ABC News, , Democrats, North Carolina, GOP, Wyoming, “ Democrats, Republicans, Biden, , Illinois, House Locations: Arizona, Georgia, Trump, North Carolina, Chicago, Charlotte, Pennsylvania, America, Springfield , Ohio
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. "This is not designed to go specifically and rigidly at one specific problem," Anduril's chief strategy officer, Chris Brose, told DefenseScoop. "We have designed Barracuda to be able to range across a series of targets — from ground-based targets to maritime targets to others." Anduril did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Persons: , Anduril, Chris Brose, DefenseScoop, Diem Salmon, Salmon, Palmer Luckey, hyperscale, Brose Organizations: Service, Barracuda, Business, Pentagon, US Air Force, Enterprise, Oculus Locations: China, Russia, America
Biden finalizes increases to China tariffs
  + stars: | 2024-09-13 | by ( Katie Lobosco | ) edition.cnn.com   time to read: +2 min
Washington CNN —The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the president first announced in May. The administration’s increases come as Vice President Kamala Harris and former President Donald Trump have clashed over tariffs on the campaign trail. Trump implemented sweeping tariffs on about $300 billion of Chinese-made products when he was in office. “Today’s finalized tariff increases will target the harmful policies and practices of the People’s Republic of China that continue to impact American workers and businesses,” US Trade Representative Katherine Tai said in a press release. China is expected to retaliate by increasing tariffs on US-made goods.
Persons: Washington CNN —, Biden, Kamala Harris, Donald Trump, Harris, Trump, Joe Biden, Today’s, Katherine Tai, Wang Wenbin, , He’s, Kayla Tausche Organizations: Washington CNN, US Trade Representative’s, US, Trade Organization Locations: People’s Republic of China, China
CNN —Right-wing media outlets are ignoring Donald Trump’s embrace of far-right conspiracy theorist Laura Loomer, shielding their audience from the uproar amid condemnation from top Republicans. In recent days, Donald Trump has mingled with Loomer, the radical conspiracy theorist who has a well-documented history of pushing racist, sexist, Islamophobic and homophobic hate. But right-wing media outlets have largely ignored her close proximity to Trump and the ensuing controversy. That was also the case in other right-wing outlets, including the websites of Breitbart, The Daily Wire, One America News, and The Gateway Pundit. According to the progressive media watchdog Media Matters, Fox News devoted just four minutes to the news over the ensuing three-day period, compared to more than an hour on CNN and MSNBC.
Persons: Donald Trump’s, Laura Loomer, Donald Trump, Loomer, Elon Musk, Trump, Breitbart, It’s, Mike Pence, Trump’s, , Republican Sen, Lindsey Graham, doesn’t, GOP Sen, Thom Tillis, Rep.Marjorie Taylor Greene, MAGA, , disavow Loomer, “ Laura’s, she’s, ” Trump, I’m, Laura Organizations: CNN, Fox News, Daily, America, Fox, Trump, White, Media, MSNBC, Republican, Washington, GOP, Republicans, DNC Locations: Trump, Philadelphia
Ajit Jain, Berkshire's vice-chair sold $139 million of the company's shares on Monday. Jain will have $112 million left in shares, owned by himself, his family trusts, and his nonprofit. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAjit Jain, the vice-chair of Berkshire Hathaway and the head of its insurance operations, cashed out big from the company, selling over half his stake in Warren Buffett's empire.
Persons: Ajit Jain, Jain, Warren Buffett, , Berkshire Hathaway Organizations: Service, Securities and Exchange Commission, Business Locations: Warren Buffett's
Over the course of about 10 years at the company, Vashi worked his way up from an entry-level consultant role to vice president. It all paid off in June 2022, when Anaplan was acquired by private equity company Thoma Bravo at a roughly $10.4 billion valuation. Here are five tips on how to negotiate for more equity at work, according to Vashi:1. "The best way to secure equity compensation is to make yourself extremely important to the company," he said. When it comes to employees, it is "all based on [their] contributions, either actual contributions or expected contributions," Vashi said.
Persons: Bhavik Vashi, Vashi, Anaplan, Thoma, they've Organizations: University of California, CNBC, Thoma Bravo, Asia Pacific, Carta, Employees Locations: Valley, Berkeley, Silicon Valley, Middle East
Trump's campaign paid over $145,000 to secure a spot at the Tucson Convention Center for a rally. Local media said Trump failed to pay a bill for an event at the same venue in 2016. AdvertisementThe Trump campaign had to pay a deposit of over $145,000 to secure a spot at the Tucson Convention Center for a rally on Thursday. In a statement to Business Insider, the City of Tucson City Manager's Office confirmed that the Trump campaign had paid a deposit for estimated costs of $145,222.70 to use the Linda Ronstadt Music Hall at the venue. This story is available exclusively to Business Insider subscribers.
Persons: Trump, Trump's, Kamala Harris, , Linda Ronstadt, Donald Trump, Bernie Sanders Organizations: Tucson Convention, Service, Business, Tucson City Manager's Office, City Locations: Tucson, Arizona, City, Tucson City
Minder said some companies face going out of business if they don't pay the ransom. He said organizations might also pay when cybercriminals take sensitive or proprietary information, such as personally identifiable information, and threaten to release it. Both paying and not paying can be riskyLance said that whether to pay ransom is ultimately up to individual companies. The FBI warns against paying ransom to attackers, as there's no guarantee you'll get your data back. Seeking help is crucialLance said that if you encounter ransomware, "don't try to go at it alone without any experience."
Persons: , Mark Lance, Kurtis Minder, Minder, Lance Organizations: FBI, Service, Google, MGM, Boeing, CDK Global, Caesars, GuidePoint, ransomware, IBM, US Securities and Exchange, cybercriminals Locations: Florida, North Carolina
Read previewRepublican vice presidential nominee Sen. JD Vance expressed support for expanding veterans' ability to use private doctors in a podcast interview this week. "I think I'd consider it," replied Vance, a former enlisted Marine who deployed to Iraq in a public affairs role. AdvertisementThe Trump campaign shot back that the Harris campaign was taking Vance out of context. During his first term in office, Trump expanded veterans' ability to see non-VA doctors using VA funding by signing the Mission Act. AdvertisementThe Mission Act received bipartisan support when it passed in 2018, but it has since become more partisan.
Persons: , Sen, JD Vance, Shawn Ryan, Vance, You'll, Donald Trump, Kamala Harris, Tammy Duckworth, Harris, cochair, William Martin, Kamala, It's, JD, Trump, Biden, you've Organizations: Service, Navy, Department of Veterans Affairs, Business, Marine, Marine Corps, Republicans, GOP, Democratic, Iraq, Veterans, Trump, of Veterans Affairs, Congressional Republicans, Republican Locations: Iraq, Illinois
The White House wrote that image-based sexual abuse “has skyrocketed,” disproportionately affecting women, children and LGBTQ people. More nonconsensual sexually explicit deepfake videos were uploaded online in 2023 than all previous years combined. Franks said that while the voluntary efforts the White House highlighted are welcome, she does not see them as a substitute for legislation. Still, he said, the Biden administration’s and Vice President Kamala Harris’ focus on gender violence, online harassment and image-based sexual abuse was “transformative” compared with the work of previous administrations and the impact it has on victims and their advocates. On Google’s search engine and Microsoft’s Bing, NBC News previously found that nonconsensual sexually explicit deepfakes were available at the top of some search results.
Persons: , deepfakes, , Mary Anne Franks, “ It’s, Franks, Biden administration’s, Kamala Harris ’, Microsoft’s Bing, Alexandra Reeve Givens Organizations: White House, ” Tech, Meta, Microsoft, Group, Center for Democracy and Technology, Civil Rights Initiative, National Network, Civil, Initiative, Communications, Google, NBC News, NBC, Facebook
In the first college admissions process since the Supreme Court struck down affirmative action last year, Asian American enrollment at the most prestigious U.S. schools paints a mixed, uneven picture. Columbia University — which, unlike the other Ivies, groups Pacific Islanders with Asian Americans — saw an increase of nine percentage points in its enrollment of Asian American applicants, while Brown saw an increase of four percentage points. It doesn’t mean that race is entirely ruled out of the admissions process, however. Poon, who is the author of “Asian American is Not a Color: Conversations about Race, Affirmative Action, and Family,” said that with race masked in the admissions process, concerns around biases are actually more prevalent. And it’s going to be difficult to determine, for example, why there were drops in Asian American enrollment at some schools as well.
Persons: , OiYan Poon, ” Poon, , Brown, St . Louis, Edward Blum, Hopi Hoekstra, ” Hoekstra, Jonathan Palumbo, Whitney Soule, Dartmouth —, John Roberts, ” Julie J, Poon Organizations: Ivy League, Yale, Princeton, Harvard, University of Illinois, Columbia University —, Pacific Islanders, MIT, Amherst College, Washington University, Conservative, Fair, NBC News, ” Harvard, of Arts and Sciences, Harvard Crimson, , University of Pennsylvania, — Cornell, Dartmouth, University of North, University of Maryland, Universities, Federal Student Aid, NBC Asian Locations: U.S, Columbia, Brown, University of Illinois Urbana, Champaign, St ., University of North Carolina, NBC Asian America
WASHINGTON — White House press secretary Karine Jean-Pierre on Thursday slammed Donald Trump’s association with right-wing conspiracy theorist Laura Loomer, who has become an increasing presence alongside the former president as he seeks a second term. “No leader should ever associate with someone who spreads this kind of ugliness, this kind of racist poison,” Jean-Pierre said at a press briefing. Jean-Pierre was asked during the daily White House briefing on Thursday afternoon for President Joe Biden’s response to a racist post this week in which Loomer targeted Harris’ Indian heritage. Far-right activist Laura Loomer before the start of Donald Trump's trial at Manhattan Criminal Court on April 15 in New York City. Trump’s affiliation with Loomer has prompted feelings of consternation among some Republicans on Capitol Hill, though most GOP lawmakers have declined to weigh in on their association.
Persons: WASHINGTON, Karine Jean, Pierre, Donald Trump’s, Laura Loomer, , ” Jean, Trump, Loomer, , Jean, Joe Biden’s, Harris, Donald Trump's, David Dee Delgado, ’ ” Loomer, Pierre’s, aren’t, Marjorie Taylor Greene, Lindsey Graham, Taylor Reidy Organizations: Trump, White, Manhattan Criminal, Arizona Telemundo, KTAZ, NBCUniversal, NBC News, Capitol, Sen Locations: New York City, Philadelphia, Springfield , Ohio, Springfield
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