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☆ Nobel Prize in economics 2024 awarded to Acemoglu, Johnson and Robinson for explaining why some nations are rich and others poor
▼ + stars: | 2024-10-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +5 min

London CNN —Three economists were awarded the Nobel Prize Monday for their research into how the nature of institutions helps explain why some countries become rich and others remain poor. Daron Acemoglu, Simon Johnson and James Robinson will share the prize, which carries a cash award of 11 million Swedish kronor ($1 million). The authors warned that “the current path of AI is neither good for the economy nor for democracy.”The latest Nobel Prize in economics was announced in Stockholm on October 14, 2024. In “Why Nations Fail,” he and Robinson argued that China, because it lacks inclusive institutions, would not be able to sustain its economic growth. The economics prize is officially known as Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.

Persons: Daron Acemoglu, Simon Johnson, James Robinson, –, —, ”, Robinson, Acemoglu, Johnson –, MIT –, Christine Olsson, ” Acemoglu, Alfred Nobel, Claudia Goldin, Goldin Organizations: London CNN —, Massachusetts Institute of Technology, MIT, University of Chicago, TT, Agency, AP, Bank of Sweden, Economic Sciences, Harvard University Locations: Turkish, American, British, Nogales, Arizona, Mexico’s Sonora, Nogales , Arizona, Stockholm, China, Beijing, Bank, Swedish

☆ Visiting the Trumpiest county in a swing state
▼ + stars: | 2024-10-14 | by ( Elle Reeve | Samantha | ) edition.cnn.com time to read: +9 min

Money is still tight for many in Brantley County in southeast Georgia, but its people no longer look to Democrats to help. CNNConnecting with TrumpBrantley County is rural, about an hour from the Atlantic coast, with the Okefenokee Swamp to the west. Ronald Ham, chairman of the Brantley County Republican Party, said local voters connect with Trump. People have to drive outside the county for work, which means gas prices matter a lot. “They can vote any way they want to vote,” Wilson said of his companions.

Persons: Sherri Rowell, ”, Donald Trump, Rowell, Talan Tanner, Tanner, ” Rowell, “, don’t, Michael Tanner, Talan, ‘, You’ve, ’ ” Tanner, ‘ Dad, —, He’s, Trump Brantley, ” Ronald Ham, Ronald Ham, ” Ham, “ They’ve, Joe Biden, “ Trump, …, Trump’s, “ It’s, we’re, Kamala Harris, It’s, Harris, Ham, David Herrin, ” Herrin, Button Lee, Herrin, it’s, ” Bill Middleton, Biden, there’s, ” Middleton, we’ve, ” Donald Lewis, Corbet Wilson, Donald Lewis, ” Wilson, Lewis, ” Lewis, Wilson, Trump, Ronald Reagan, George W, Bush, Mitt Romney Organizations: Georgia CNN, Trump, CNN, Brantley County GOP, Republican Party, Trump . CNN, Walt Disney World, Biden, Gold, Teamsters, Teamsters ’, Republican, Capitol Locations: Nahunta, Georgia, Brantley County, It’s, Ham, Brantley, Washington

☆ Nigeria to boycott AFCON qualifier against Libya after players claim they were left stranded at airport overnight
▼ + stars: | 2024-10-14 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +5 min

CNN —The Nigeria men’s soccer team is back home after being stuck at a remote Libyan airport for over 15 hours, according to Nigeria’s football governing body and team captain William Troost-Ekong. In an Instagram post, the NFF said that the squad was stranded overnight at Al Abraq airport outside of Al Bayda, Libya. “We understand the Al Abraq International Airport is only used for hajj operations. They’ve locked the airport gates and left us without phone connection, food or drink. But never on purpose!”Later on Monday, Troost-Ekong said the team had traveled back to Nigeria.

Persons: William Troost, ”, Faisal Al, Badri, “, Ekong, Ulrik Pedersen Organizations: CNN, Nigeria men’s soccer, Eagles, of Nations, Nigerian Football Federation, Al, Libyan Football Federation, Reuters, Nigerian, ” CNN, of African Football, Nigerian National Football, CAF, Board, Tunisian, IF Locations: Nigeria, Libya, Africa, Benghazi, Al Abraq, Al Bayda, ”

☆ 3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality
▼ + stars: | 2024-10-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

US-based academics Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Prize in economics. Their work has helped demonstrate how institutions affect wealth inequality, the prize committee said. AdvertisementThree economists based at US universities have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences for their work on how institutions affect wealth inequality. Daron Acemoglu, Simon Johnson, and James A. Robinson will share the $1.1 million prize money, the prize committee said. The prize, known in its entirety as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is widely considered the most prestigious prize in the field.

Persons: Daron Acemoglu, Simon Johnson, James A, Robinson, —, Alfred Nobel, Jakob Svensson, Acemoglu, Johnson, Jan Teorell, Robinson “, ” … Organizations: Service, Sveriges, Economic Sciences, Royal Swedish Academy of Sciences, Massachusetts Institute of Technology, University of Chicago's Pearson Institute, Global, International Monetary Fund, Prosperity Locations: Acemoglu

☆ Are the cleaning products in your home safe? Experts weigh in
▼ + stars: | 2024-10-14 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +7 min

“People are becoming more aware of how these things can have an effect on our health,” Stoiber said. “The proper use of cleaning products contributes to public health and quality of life in homes, offices, schools, health care facilities, restaurants and throughout our communities every single day,” he added. “Everyone who has dealt with the coronavirus pandemic or cold and flu season can certainly recognize this fact.”Here is what experts want you to know about cleaning products and how to make safer choices. Volatile organic compounds are gases that can be emitted from solid or liquid products, according to the EPA. It’s how you use itIt’s not just what you are using, but how you are using your cleaning products that could be of concern, experts say.

Persons: ”, Tasha Stoiber, Jennie Romer, ” Stoiber, “, Brian Sansoni, Natalie Johnson, Romer, Johnson, Romer’s, Sansoni, ” Sansoni, It’s, it’s, ” Romer, aren’t, Stoiber Organizations: CNN, Environmental, US Environmental Protection Agency, “, American Cleaning Institute, Texas, M University School of Public Health, EPA, “ Regulators Locations: United States

☆ Nobel economics prize for 2024 awarded to Daron Acemoglu, Simon Johnson and James Robinson
▼ + stars: | 2024-10-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Nobel Committee announces the winners of the 2024 Nobel Prize in Economic Science during a press conference at the Karolinska Institute in Stockholm, Sweden, on October 14, 2024. The 2024 Nobel Prize in Economy was awarded to Daron Acemoglu, Simon Johnson and James Robinson for their work on formation of institutions and their impact on welfare. U.S.-based economists Daron Acemoglu, Simon Johnson and James Robinson were awarded the Nobel prize in economic sciences on Monday for their work on wealth inequality between nations. The winners of the award, officially called the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel," will receive 11 million Swedish kronor ($1.058 million) from the Swedish central bank. Economist and historian Claudia Goldin won the economics Nobel in 2023 for advancing understanding of women's earnings and labor market outcomes.

Persons: Daron Acemoglu, Simon Johnson, James Robinson, Johnson, Robinson, Acemoglu, Jakob Svensson, Alfred Nobel, Ben Bernanke, Douglas Diamond, Philip Dybvig, Claudia Goldin Organizations: Karolinska Institute, Massachusetts Institute of Technology, University of Chicago's Pearson Institute, MIT, Prosperity, Stockholm University's Institute for International Economic Studies, Sveriges, Economic Sciences, U.S Locations: Stockholm, Sweden, Saharan Africa, Latin America, U.S, Swedish

☆ I'm a tech founder who's had to flee Lebanon. The conflict has spiraled at a terrifying rate, but the tech community is still pressing ahead.
▼ + stars: | 2024-10-14 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +8 min

It exposed me to the amount of tech talent in the region. I felt guilty about leaving my team behind, but I'm determined to keep platforming tech talent in Lebanon and support the people who want to keep working. Many people don't know Lebanon has a vibrant tech sceneIn recent years, the tech sector in Lebanon has been booming. On multiple occasions, I'd leave Beirut to stay with friends in the mountains during the night. AdvertisementI didn't want to leave Lebanon and my team, but the UK government were urging British nationals to leave.

Persons: Laura Jardine Paterson, —, I'd, I've, we've, there'd, there's, Paterson, I'm, They've Organizations: Service, Tech, Business Locations: Lebanon, London, Palestinian, Syrian, Europe, Syria, Egypt, Jordan, UAE, Beirut, Israel, Southern Lebanon

Springfield, Ohio CNN —It’s just past 4am. To lose them would be a blow to his business, he told CNN. They’re ready to give birth in probably the next couple hours, and they’ve never had a single prenatal visit,” Cook told CNN. Haitians sit down to eat their meal at a Haitian restaurant in Springfield, Ohio, on September 12, 2024. That’s tough,” Heck told CNN.

Persons: Springfield , Ohio CNN — It’s, Daniel Aula, he’s, Aula, wasn’t, “, ”, Donald Trump, Ohio Sen, JD Vance —, Trump, Vance, He’s, Ross McGregor, McGregor, ” McGregor, they’d, “ We’ve, Bryan Heck, Springfield Mayor Rob Rue, we’ve, Chris Cook, “ You’ve, they’ve, ” Cook, Cook, “ That’s, Biden, Sens, Sherrod, Ohio Brown, Tim Scott of, Tim Scott of South Carolina —, cc’d Vance, ” Heck, Rent, Rue, Rob Rue, Dominic Gwinn, Jaob Payen, Daniel Driscoll, I’ve, ” Andy Wilson, it’s, —, Mike DeWine, Kerry Lee Pedraza, Pedraza, ” Pedraza, Roberto Schmidt, Aula’s, Harris, Alejandro Mayorkas, Katie Kersh, Kersh, ” Kersh, Lebon, ” Lebon, Sassy ”, ’ ”, “ ’, Sen, JD Vance, Matthew Hatcher, ‘, Fran DeWine, Prince —, ” DeWine, DeWine, that’s, ’, Daniel Aula’s, ” Aula, ” “, CNN’s Catherine E, Shoichet, Kate Sullivan, Daniel Dale Organizations: Springfield , Ohio CNN, CNN, Biden, Nation, Springfield City, Springfield Mayor, Springfield, Infants, Children, City, Getty, US Navy, Republican, Ohio Department of Public, Patrol, Springfield Police, United, “ Haitian Coalition, AFP, United Nations Human Rights, UN, US, Homeland, TPS, “, Gov, Ohio Gov, Trump, Underground Railroad Locations: Springfield , Ohio, Haiti, Springfield, Ohio, November’s, Clark County, Pentaflex, Haitian, Tim Scott of South Carolina, ”, County, City, United States, Creole, Leesport , Pennsylvania, Port, DeWine, America, Germans, “, —

☆ A 36-year-old on track to retire early didn't earn more than $15,000 a year until her late 20s. She explains how she increased her income and how she invests.
▼ + stars: | 2024-10-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Amberly Grant achieved 'coast FIRE' by increasing her income and investing the excess. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . She's also created an additional income stream by purchasing two investment properties and setting up long- and short-term rentals. However, once you reach age 65, you can use your HSA money to cover any expense without incurring a penalty. While Grant can use her HSA funds for medical costs right now, she chooses to pay out-of-pocket so her HSA money can continue to grow and compound.

Persons: Amberly Grant, —, she'd, Grant, it'll, she's, who's, it's, She's, I've, Roth, what's, I'm Organizations: IRA, Service, Leeds School of Business, Boulder, FIRE Locations: Portland, San Francisco

☆ Warren Buffett's Bank of America position goes under wraps. Here's what could happen next
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].

Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S

☆ Lebanese American killed by Israeli airstrike while caring for those who were displaced, family says
▼ + stars: | 2024-10-13 | by ( Alaa Elassar | ) edition.cnn.com time to read: +10 min

CNN —When Israeli airstrikes began raining down on southern Lebanon, Kamel Ahmad Jawad’s first instinct wasn’t to seek safety or return to the US. On October 1, Jawad, a 56-year-old American citizen, father of four and cherished figure in the Dearborn, Michigan, community, was killed by an Israeli airstrike, his family says. CNN has reached out to the Israeli military, which said they could not comment without being given the exact coordinates and time of the strike that killed Jawad. But his American citizenship, his daughter says, does not make his life any more valuable than the lives of the thousands of Palestinian and Lebanese civilians killed by Israeli airstrikes. Before he was killed, Jawad sent his children a simple voice note: “Peace be upon you.

Persons: Kamel Ahmad Jawad’s, wasn’t, Jawad, ”, Nadine Jawad, Jawad’s, Israel, Yemen –, Iran –, Benjamin Netanyahu, “, ” Hamzah Raza, ” Raza, Abed Ayoub, He’s, ” Ayoub, Rashida Tlaib, Debbie Dingell, Ali Dabaja, Bint Jbeil, Batoul Dabaja, Saad, –, Dabaja, ” Dabaja, Matthew Miller, disclaiming, Kamel Jawad Organizations: CNN, Facebook, Lebanese Ministry of Public Health, Hamas, Palestinian Ministry of Health, Militant, Lebanese Diaspora Relief, “, US State Department, Arab American, Islamic, State Department, Lebanese Locations: Lebanon, Dearborn , Michigan, Israel, Nabatieh, Gaza, Beirut, Iran, Yemen, American, Dearborn, Michigan, Lebanese, US, Arab, ”, Palestinian

☆ Caleb Williams throws four touchdown passes as Bears ease past Jaguars in London
▼ + stars: | 2024-10-13 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +4 min

CNN —The Chicago Bears kicked off Week 6’s Sunday action by moving to 4-2 as they defeated the Jacksonville Jaguars 35-16 in London, England. The matchup was officially listed as a Bears home game, and it certainly had the atmosphere of one. Ian Walton/APWilliams and the Chicago offense struggled mightily to start the game, only mustering seven yards of offense in the first quarter. A series of defensive penalties helped Chicago move the chains with the drive culminating in another Williams TD pass to Allen to start the fourth quarter. The Jags scored again via another Lawrence to Davis touchdown pass but were unable to make any further inroads into the Bears lead.

Persons: Caleb Williams, Trevor Lawrence –, –, Cam Little, Lawrence, Ian Walton, AP Williams, mightily, Williams, Cole Kmet, Travis Etienne, Andre Cisco, Kmet, Richard Heathcote, Evan Engram, Elijah Hicks, Keenan Allen, Gabe Davis, Allen, Josh Blackwell, DJ Moore, Swift, Jags, Davis Organizations: CNN, Chicago Bears, Jacksonville Jaguars, Tottenham Hotspur, Bears, Jacksonville, Jaguars, Getty, Chicago, New England Patriots, Wembley Locations: London, England, Europe, Chicago, Jacksonville

☆ African leaders say elephants need to die for food. Critics says it’s cruel and won’t work
▼ + stars: | 2024-10-12 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

CNN —Drought is now so bad in parts of southern Africa that governments say they must kill hundreds of their most captivating, majestic wild animals to feed desperately hungry people. In August, Namibia announced it had embarked on a cull of 723 animals, including 83 elephants, 30 hippos and 300 zebras. Crops have failed, livestock has died and nearly 70 million people are desperately in need of food. They say it’s the opposite: reducing numbers will help protect remaining animals as the drought shrinks food and water resources. Both Namibia and Zimbabwe say professional hunters will ensure entire groups are killed to prevent this.

Persons: —, Badru Katumba, El Niño, ”, Elizabeth Mrema, Mrema, Chris Brown, ” Brown, It’s, Romeo Muyunda, ” Muyunda, Brown, Izak Smit, Zinyange Auntony, Farai Maguwu, ” Maguwu, Elisabeth Valerio, Maguwu, Megan Carr, Keith Lindsay, Muyunda, “ Organizations: CNN, Getty, United Nations Environment, “, Namibian Chamber, Environment, Namibia’s Ministry of Environment, Forestry, Tourism, Desert Lions Human Relations, for Natural Resource, cullings, EMS Foundation, Martin Locations: Africa, Namibia, Zimbabwe, Europe, Murchison, Uganda, AFP, Damaraland, Kaokoland, slaughterhouses, Namibian, Dete, Hwange, Hwange Park, African, Halali, Etosha

☆ A 32-year market vet shares 5 labor market indicators showing the US economy is barreling toward a recession — putting an overvalued stock market at risk for major declines
▼ + stars: | 2024-10-12 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This is while S&P 500 valuations remain high, putting the market at risk for big declines. In a September note, Wolfenbarger shared the below chart from Bank of America showing 19 of 20 valuation measures they monitor as being overvalued. That means the S&P 500 would have to fall 60% just to return to the historical average. But it's still unclear how accurate the September jobs data is. Future revisions and further lackluster jobs data could resume investor fears that a downturn is a serious potential threat.

Persons: Jon Wolfenbarger, —, Merrill Lynch, St, Louis Fed, Wolfenbarger, September's, it's, David Rosenberg Organizations: Service, Federal Reserve, Bureau of Labor Statistics, JPMorgan, Conference Board, Global, Bank of America, Rosenberg Research, Nvidia Locations: St

Individuals looking to help storm victims can also be tricked into donating to fake charities, FEMA says. CNN’s Impact Your World team has ways viewers and readers can help Hurricane Milton victims through vetted charities here. Noting that many areas in the county have “incurred severe property damage because of back-to-back impacts from Hurricane Helene and Hurricane Milton,” Pinellas County’s Office of Consumer Protection urged residents in a public advisory Thursday to be cautious when hiring someone to make storm-related repairs. John Falchetto/AFP/Getty ImagesSeniors are more susceptibleIn the aftermath of Hurricane Milton, Florida authorities are also fighting to stop insurance scams targeting storm victims, often the elderly, says Patronis, the state’s chief financial officer. Florida is home to over 6.3 million seniors – anyone 60 and older, according to the Florida Department of Elder Affairs.

Persons: Hurricane Milton, Ron DeSantis, ”, Jimmy Patronis, Melanie McGovern, McGovern, they’re, I’m, ’ ” McGovern, Helene, Milton, “, it’s, ” McGovern, heartstrings, GoFundMe, they’ve, DCNOnline.org, John Falchetto, Fraudsters, ” Patronis Organizations: CNN, Gov, Better, FEMA, Consumer Protection, National Center for Disaster, ” Pinellas County’s Office, ”, Lakes Country, Getty, Florida Department of Elder Affairs, Lakes Country Club Village, State Locations: Hurricane, Florida, Pinellas County, Siesta Key, ” Pinellas, Pinellas, Fort Pierce , Florida, AFP, Hurricane Milton, United States, Fort Pierce

☆ Spain is betting on immigrants to boost its economy
▼ + stars: | 2024-10-12 | by ( Rebecca Rommen | Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Spain is looking to immigrants to help boost its economy. Spanish Prime Minister Pedro Sánchez has said migration is crucial for the country's prosperity. AdvertisementSpain is looking to immigrants to help boost its economy and fill gaps in its workforce. Related storiesSánchez also used his speech to dispel certain myths and "disinformation" about immigrants, saying that "hatred and xenophobia have been — and are — the greatest destroyer of nations." Former President Donald Trump has drawn particular attention to the issue, often using inflammatory rhetoric to describe immigrants.

Persons: Pedro Sánchez, —, Sánchez, Donald Trump, Trump Organizations: Spanish, Service Locations: Spain, EU, Spanish, Germany, Sweden, Finland

CLEARWATER, Fla. — Two days after Hurricane Milton flooded The Standard at 2690 Apartments, representatives from the company that manages the 16-acre complex showed up Friday and barred tenants from returning to their homes. Before Milton arrived, McCoy said she noticed a maintenance worker boarding up the complex’s leasing office. "My neighbors ended up doing it for me.”As for the property managers, McCoy said, “They just were out like that. Police at the complex told reporters they rescued at least 500 other residents the same way. Samantha Hood, 32, who has lived at the complex for four years, said many of the tenants are poor families with children who live paycheck to paycheck.

Persons: Milton, We’ll, ” Angela Lentsch, Lentsch, Jas McCoy, McCoy, “, ”, couldn't, Kelvin Glenn, ” Glenn, Glenn, Sandra, Samantha Hood, Hood, Matt Lavietes, Corky Siemaszko Organizations: Infinity, NBC, Police Locations: CLEARWATER, Fla, Lentsch, Siesta, Clearwater, Florida, Old Tampa, Pinellas County, Bay Harbor, Montclair , N.J

But Putin is not the only foreign leader Trump is talking to. And it is hardly unusual for a presidential nominee to begin holding some talks with foreign leaders. After the first attempt to assassinate Trump, in July, foreign leaders quickly moved to offer him their well-wishes. Trump has hosted Netanyahu and his wife, Sara, Hungarian Prime Minister Viktor Orbán, former Japanese Prime Minister Taro Aso and former British Prime Minister David Cameron when he was the U.K.’s foreign secretary. Katulis was referring to the trove of classified documents Trump kept from his time in office that have become the subject of a criminal case, many of them about his communications with foreign leaders.

Persons: WASHINGTON —, Donald Trump, Vladimir Putin —, Trump, —, Putin, Xi Jinping, ”, Russia —, Evan Gershkovich, Biden, Bob Woodward’s, ” Trump, Keir Starmer, Volodymyr Zelenskyy, Saudi Crown Prince Mohammed bin Salman, Benjamin Netanyahu, Melania Trump, King Charles “, Mahmoud Abbas, Andrzej Duda, Duda, Netanyahu, Sara, Viktor Orbán, Taro Aso, David Cameron, Trump’s, Daniel Fried, Bill Clinton, George W, Bush, Barack Obama, I’ve, ” Fried, ” Keith Kellogg, Fried, “, ” He's, Brian Katulis, Katulis, ” Said, Woodward, “ Biden, ‘, ’ ” Trump, ’, Karoline Leavitt, Steven Cheung Organizations: WASHINGTON, White, Trump, Democratic Party, Street Journal, British, Saudi Crown, Israeli, ”, Republican National Convention, Palestinian, Ukraine, U.S, Republicans, Middle East Institute, ’ Locations: Manhattan, Palm Beach , Florida, Israel, Ukraine, Russia, American, Russian, Iran, New York, Hungarian, U.S, Poland, Clinton, today’s America, North Korea

☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ I can't afford a babysitter to watch my kids while I work. I rely on their grandmother and my partner for childcare.
▼ + stars: | 2024-10-11 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +4 min

She has been trying to find a babysitter to sit with her kids for a few hours after school. As a teenager in the 90s, I might have gotten paid $20 for babysitting kids for the whole day. When I look for a babysitter now, I can't find anyone who charges less than $20 an hour. Kayla Sweeney can't afford to pay $20 an hour for a babysitter while at work. AdvertisementIf someone could charge minimum wage or even up to $10 an hour, I'd give them work to watch my kids right away.

Persons: Kayla Sweeney, —, I'm, I've Organizations: Service Locations: Michigan, South Lyon , Michigan

☆ Investors should take China ‘very seriously,’ fund manager says, naming a stock to start with
▼ + stars: | 2024-10-11 | by ( Nicole Teo | ) www.cnbc.com time to read: +4 min

With all eyes on China right now, one fund manager is bullish on the country regardless of any "bazooka" stimulus measures, saying investors should be getting involved. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China's economy . Stephen Roach, for example, former chief economist at Morgan Stanley, warned investors against being too swept up in the China market rally . 'Starting point' For those looking to invest in China, Glass said a good "starting point" was Midea Group , which makes appliances and industrial robots. Analysts' average price target is 4.49 Hong Kong dollars, which gives the stock almost 30% potential downside from its current price around 6.40 Hong Kong dollars.

Persons: Steven Glass, Glass, hasn't, CNBC's, Stephen Roach, Morgan Stanley, Midea Organizations: Sydney, Pella Funds, Investors, National Development, CSI, HSBC, Generations Fund, Midea Group, China Equity, Hong, Garden Services Holdings Locations: China, Pella, Hong Kong, Shenzhen, U.S, Hong

☆ Cannibalized remains from Franklin’s lost Arctic expedition identified
▼ + stars: | 2024-10-11 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

CNN —Archaeologists have identified the cannibalized remains of a senior officer who perished during an ill-fated 19th century Arctic expedition, offering insight into its lost crew’s tragic and grisly final days. The remains identified as Fitzjames’ in the new study, published September 24 in the Journal of Archaeological Science, were among them. The remains of James Fitzjames, a senior officer who took part in Sir John Franklin's lost expedition to the Northwest Passage, showed signs of having been cannibalized, a new study said. However, unlike Fitzjames’ remains, Gregory’s bones did not display any cut marks suggestive of cannibalism. Canada’s national parks service and the Inuit communities found the final resting place of the HMS Erebus in 2014 and the HMS Terror in 2016.

Persons: James Fitzjames, Sir John Franklin, Franklin, Fitzjames, ”, Doug Stenton, King William Island, Anne Keenleyside, Claire Warrior, Sir John Franklin's, Stenton, Nigel Gambier, “, ” Gambier, Gambier, Stephen Fratpietro, Erebus, John Gregory, Franklin’s, Dan Simmons ’ Organizations: CNN —, Royal Navy, University of Waterloo, Archaeological Science, British, National Maritime Museum, Alamy, Victory, Nunavut Department of Culture and Heritage, CNN, Franklin’s, Lakehead University, Expedition, Maritime, telltale Locations: America, England, Canada, Canada’s Nunavut, London, Sir, Victory, Thunder Bay , Ontario, Willam

☆ Boeing to lay off roughly 10% of its workforce
▼ + stars: | 2024-10-11 | by ( Vanessa Yurkevich | Chris Isidore | ) edition.cnn.com time to read: +6 min

Union members are still angry that Boeing demanded they give up their traditional pension plans 10 years ago, when the company was doing well financially. Even with all of its problems, Boeing is likely at no risk of disappearing. If airlines that are Boeing customers cancel their order, they would have to wait five years for a comparable jet from Airbus. Boeing will discontinue that plane once its current orders are completed and delivered to customers in 2027. That plane is built by some of the union members now on strike.

Persons: “, ”, Kelly Ortberg, ” Ortberg, Max, Ortberg, Poor’s Organizations: New, New York CNN, Boeing, Alaska Airlines, National Transportation Safety Board, Space Station, International Association of Machinists, IAM, Airbus Locations: New York, United States, underperformance, Washington State

South Korea's central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022. This was in line with a poll of economists from Reuters, who forecasted a rate cut. At that time, South Korea's inflation stood at 2.6%, but climbed sharply to hit 6.3% in July 2022, its highest in over 20 years. Oh noted that macro conditions are supportive of a rate cut, with a "favourable" inflationary backdrop. Oh predicts that after the October cut of 25 basis points, three more consecutive cuts will follow on a quarterly basis, eventually bringing the BOK's benchmark interest rate to 2.5%.

Persons: BOK, Morgan Stanley's, Kathleen Oh, We've, Morgan Stanley Organizations: Bank of, Federal Reserve, Reuters Locations: Bank of Korea, Seoul, Korea's, Korea

☆ These stocks are best-positioned to gain in the next wave of AI investment, Goldman Sachs says
▼ + stars: | 2024-10-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

In the next wave of investment, Goldman Sachs analysts recommend "platform" stocks like Microsoft and Datadog. In the next round of AI investment, Goldman Sachs analysts say investors should look past the obvious picks—Nvidia and AI infrastructure companies—and toward a select set of platforms set to build out a direct application of AI. "Our equity analysts believe 'platform' stocks, including databases and development tools, are set to be the primary beneficiaries of the next wave of generative AI investments. AdvertisementThe analysts name Microsoft, DataDog, MongoDB, Elastic, and Snowflake as the best-positioned platform stocks as they roll out AI-integrated applications. AdvertisementThe analysts' comments come after flows into AI stocks dwindled over the summer as traders expressed worries over returns on big AI spending.

Persons: Goldman Sachs, — Organizations: Microsoft, Service, Nvidia, Federal Reserve Locations: Snowflake

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