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☆ Sunak’s Flagship Immigration Plan Fails First Test in House of Lords
▼ + stars: | 2024-01-22 | by ( Stephen Castle | ) www.nytimes.com time to read: +1 min

Four days ago, Prime Minister Rishi Sunak of Britain urged the House of Lords, the unelected upper chamber of Parliament, not to block his plans to put asylum seekers on one-way flights to Rwanda, describing his contentious migration policy as “the will of the people.”On Monday night, the Lords did not play ball. Instead, they voted to delay the crucial treaty with Rwanda that underpins Mr. Sunak’s legislation — underscoring the hostility among some members of the chamber to a policy that has proved divisive ever since it was introduced by Boris Johnson, then the prime minister, in 2022. In practical terms, the vote has limited impact because the House of Lords — a legislature which is largely made up of former politicians, civil servants and diplomats, as well as 26 bishops — does not have the power to prevent the treaty from coming into force. But it is a symbolic setback for Mr. Sunak and suggests that the Lords may try to amend the broader legislation, the so-called safety of Rwanda bill, which they are scheduled to start debating next week. It may also strengthen future legal challenges by asylum seekers against their deportation to the African country.

Persons: Rishi Sunak, ”, —, Boris Johnson, Sunak Locations: Rwanda, —

PARIS (AP) — Paris Men’s Fashion Week, ending Sunday, has witnessed a striking dichotomy of styles. Here are some highlights of fall-winter 2024 men's shows:SACAI’S BOLD WARRIOR CHICAs the sun set on Paris Menswear Week, Sacai, Japan’s commercial juggernaut in the fashion world, delivered imaginatively. This season’s Paris Men’s Fashion Week traveled from the elegantly understated to the boldly expressive. In contrast with this muted luxury, Balmain made a striking comeback to men’s fashion with a lineup that screamed opulence. Menswear week showcased the dual nature of men’s luxury fashion, oscillating between the quietly sophisticated and the unapologetically extravagant.

Persons: Chitose Abe, Abe’s, WOOYOUNGMI’S, Naomi Campbell, Rick Owens, Owens, Jamie Dornan, Zayn Malik gracing, Loewe, Louis Vuitton, Yohji, Wim Wenders, Norman Reedus, Zinédine Zidane Organizations: PARIS, Paris, AMI, Balmain Locations: Paris, Paris Seoul, PARIS

☆ The IPO market should pick up in 2024. Here are the hottest companies set to make their debut
▼ + stars: | 2024-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

After a tepid year in the IPO market, investors are hopeful 2024 will bring about a return to form. But the IPO market cratered in 2022 after the Federal Reserve's aggressive rate hiking campaign collapsed investor demand for growth stocks. But happier days could be ahead for the IPO market in 2024. According to Linqto's 2024 IPO Sentiment Survey released Thursday, only a little more than half, 52%, of 2,500 traders polled are anticipating a significant recovery in the IPO market this year, suggesting "cautious optimism" ahead. "There's a lot more optimism for the IPO market," said Akshata Bailkeri, head of research at EquityZen, a platform for pre-IPO activity.

Persons: Akshata Bailkeri, Bailkeri, Wilson, EquityZen's Bailkeri, Shein, Shein confidentially, Reddit, that's, Andrew Low Ah Kee, Low Ah Kee, Ah Kee, Skims Skims, Kim Kardashian, Andy Muir, Muir, Jordan Brand, Amer, Roxanna Islam, Troy Gayeski, Gayeski, EquityZen's Organizations: Robinhood, Ford, Amer Sports, CNBC, U.S, Reuters, National Football League, Commerce, Nike, Wilson, FS Investments, U.S . Census, World Bank Locations: Snowflake, IPOs, Silicon, China, Opendoor, U.S

WASHINGTON (AP) — U.S. fighter jets struck Iranian-backed Houthi rebel sites for the sixth time Friday, taking out anti-ship missile launchers in Yemen that were prepared to fire, according to two U.S. officials. And they resembled similar U.S. attacks on Houthi launchers that have been occurring almost daily this week. But so far the strikes have not deterred Houthi attacks on ships in the southern Red Sea or Gulf of Aden, which also have been happening nearly daily. Political Cartoons View All 253 ImagesThe Biden administration put the Houthis back on its list of specially designated global terrorists. But the links to the ships targeted in the rebel assaults have grown more tenuous as the attacks continue.

Persons: Dwight D, Joe Biden, Biden, John Kirby, “ I’m Organizations: WASHINGTON, —, Eisenhower, National Security, Hamas Locations: — U.S, Yemen, Hodieda, U.S, Aden, Israel, Gaza, Palestinian

Lawmakers have conveyed as much directly to the White House, a US official told CNN. Biden met with House and Senate lawmakers at the White House on Wednesday to outline what is at stake for Ukraine. House Speaker Mike Johnson makes a statement alongside Reps. Mike Turner, Mike Rogers and Mike McCaul on January 17, outside the White House. Privately, some US and Western officials say there could be as many as five more years of fighting. In the near term, Ukraine may be able to hang on, albeit in a stalemate, without US support, a Western intelligence source said.

Persons: Joe Biden, Biden, Jake Sullivan, National Intelligence Avril Haines, Mike Johnson, I’ve, ‘, ’ ” Johnson, CNN’s Kaitlan Collins, ”, ” Biden, Mike Turner, Mike Rogers, Mike McCaul, Samuel Corum, Donald Trump, Trump, Mike Quigley, CNN Max, “ He’s, Putin, outlast, “, Sen, Lindsey Graham, Michael McCaul, ” Said, Kostiantyn, don’t, Volodymyr Zelensky, Gitanas Nauseda, Volodymyr Zelenskiy, Ints Kalnins, ” Zelenskyy, ” Trump, Alexi J . Rosenfeld, frontloading Organizations: CNN, Ukraine, White, Pentagon, Defense, National Intelligence, White House, NATO, Republicans, Getty, Kyiv, ” Democratic, Administration, Trump, Republican, Biden, Ukrainian National Guard, Army Tactical Missile Systems, Reuters, Russian Central Bank Locations: Ukraine, Russia, Afghanistan, Kyiv, Europe, Ukrainian, Kreminna, Donetsk Oblast, Moscow, Iran, North Korea, Crimea, Sevastopol, Melitopol, Vilnius, Lithuania, New York City, West

The number of Americans applying for unemployment benefits last week fell to its lowest level in more than a year, underscoring the resilience of the labor market despite elevated interest rates that are intended to cool the economy. Jobless claim applications fell to 187,000 for the week ending Jan. 13, a decrease of 16,000 from the previous week, the Labor Department reported Thursday. That's the lowest four-week average in almost a year. Overall, 1.81 million Americans were collecting jobless benefits during the week that ended Jan. 6, a decline of 26,000 from the previous week. Weekly unemployment claims are viewed as representative for the number of U.S. layoffs in a given week.

Organizations: Labor Department

☆ Hybrid Cars Enjoy a Renaissance as All-Electric Sales Slow
▼ + stars: | 2024-01-17 | by ( Lawrence Ulrich | ) www.nytimes.com time to read: +1 min

As Teslas and other electric vehicles dazzled car buyers with futuristic technology and dreams of a gasoline-free future, hybrid cars began to seem like yesterday’s news. Now, a slowdown in the growth of electric car sales has led General Motors, Ford Motor and Volkswagen to walk back ambitious targets for those vehicles. “Consumers want the same experience they’ve had” with a combustion engine car, said Stephanie Valdez Streaty, director of industry insights for Cox Automotive. But hybrid sales rose even faster, up 65 percent to more than 1.2 million, lifting their market share to 8 percent from 5.5 percent, according to Edmunds. Throw in plug-in hybrids, and nearly one in 10 new cars pairs a gasoline engine with electric motors to save fuel and boost performance.

Persons: they’re, they’ve, Stephanie Valdez Streaty, Price, Cox, Edmunds Organizations: Toyota Prius, Motors, Ford Motor, Volkswagen, Cox Automotive

☆ Goldman says this solar tech stock can surge nearly 50%
▼ + stars: | 2024-01-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The investment bank initiated coverage of the solar technology company with a buy rating, simultaneously setting a 12-month price target of $62. Nextracker is the world's largest supplier of solar trackers, devices that optimize solar panels by tracking the sun's path. The company's shares have fallen nearly 10% in 2024 after Nextracker completed its spinoff from Flex on Jan. 2. "We note that the value of the credits [for solar trackers] are actually among the most lucrative across all solar components," wrote Goldman Sachs analyst Brian Lee. "The [total addressable market] for solar trackers globally amounts to approximately close to 5X the size of the U.S. market, with a penetration of ~20%-30% (vs. ~80% in the U.S.)."

Persons: Goldman Sachs, Nextracker, Goldman, Brian Lee, Lee, — CNBC's Michael Bloom Organizations: Nextracker, Flex, NXT Locations: U.S

BROWNSVILLE, Texas (AP) — After Texas fenced off a park along the U.S.-Mexico border and began turning away Border Patrol agents, Republican Gov. He relayed frustration over migrants illegally entering the U.S. through the border city of Eagle Pass and federal agents loading them onto buses. The weekend deaths once again escalated tensions between Texas and the Biden administration. Border Patrol must have access to the border to enforce our laws,” White House spokesman Angelo Fernández Hernández said in a statement Sunday. “However, the bottom line is that Border Patrol was barred from entering Shelby Park,” Cuellar said in a statement.

Persons: Greg Abbott, ” Abbott, ‘ We’ve, We’re, ’ ” Abbott, “, Biden, ”, Angelo Fernández Hernández, Abbott, Henry Cuellar, ” Cuellar, Rolando Salinas, Melissa R, Cigarroa, ___ Stengle, Paul J, Weber, Mark Stevenson Organizations: —, Border Patrol, Republican Gov, U.S . Department of Homeland Security, Border, Texas Military Department, Lone Star, Migrants, Rio Grande . U.S . Rep, Democrat, ”, ” Texas Military Department, of Public Safety, Eagle Pass, Justice Department, U.S, Supreme, Shelby, Democratic, Wall Coalition, National Guard, Associated Press Locations: BROWNSVILLE , Texas, — After Texas, U.S, Mexico, Houston, Eagle, Texas, Rio Grande, Shelby, Rio Grande . U.S, ” Texas, . Texas, Laredo, Dallas, Austin, Mexico City

☆ Ford could do 2 things to really shine in a challenging 2024 for the auto industry
▼ + stars: | 2024-01-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Underscoring our optimism, total hybrid sales last week came in strong for the fourth quarter and the year. They grew 55.5% for the quarter while EV sales rose 27.5%. With higher-margin hybrid sales topping the quarter and the year, the Maverick Hybrid was the best performer, with a 67% increase in 2023 sales from the year-ago period. Morgan Stanley and Wells Fargo analysts are taking a pretty pessimistic view of the auto industry in the year ahead. F 1Y mountain Ford 1 year Reflecting that apprehension, the late-2023 upswing in Ford stock has been reversing a bit in the new year.

Persons: Ford, Jim Farley, Jim Cramer, Morgan Stanley, Wells, Tesla, Wells Fargo, Jim Cramer's, Jim, Michael Nagle Organizations: Ford, ICE, General Motors, Federal Reserve, Management, CNBC, New York, Auto, Bloomberg, Getty Locations: New York, U.S

☆ More than 15% of teens say they're on YouTube or TikTok ‘almost constantly’
▼ + stars: | 2023-12-11 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

About 17% of the 63% of respondents who said they use TikTok indicated they access the short-video service "almost constantly," the report noted. Teenage boys, on the other hand, were more likely to use video game-centric messaging and social apps such as Discord and Twitch. Regarding race and ethnicity, the survey found that about 80% of Black teenagers use TikTok, compared to 70% of Hispanic teens and 57% of white teens. Hispanic teens are also more likely to use the Meta-owned WhatsApp messaging service than Black or white teens, the report noted. The Pew Research survey was based on the responses of nearly 1,500 13- to 17-year-olds between Sept. 26, 2023, and Oct. 23, 2023.

Persons: TikTok, Snapchat, Meta's Organizations: Pew Research Center, YouTube, Facebook, Twitter, U.S, Pew Research Locations: U.S

☆ Meta to expand encryption on Messenger making it similar to WhatsApp
▼ + stars: | 2023-12-07 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Because of the encryption technology "nobody, including Meta, can see what's sent or said, unless you choose to report a message to us," Loredana Crisan, the head of Messenger, wrote in an accompanying blog post . Since 2016, Messenger users could choose, or opt-in, to safeguarding their chats via a process referred to as end-to-end encryption, which scrambles peoples' communications so that third-parties can't eavesdrop and access the data. Although Meta's other messaging app, WhatsApp, also utilizes end-to-end encryption, privacy advocates have generally considered Signal to be a more secure communication service because it collects less user data. "After years of work rebuilding Messenger, we've updated the app with default end-to-end encryption for all personal calls and messages," Meta CEO Mark Zuckerberg wrote in a Facebook post on Wednesday. In 2022, Meta conducted a test on Messenger that let users back up their end-to-end encrypted conversations in case they needed to access them on another device.

Persons: Crisan, what's, Meta, Mark Zuckerberg, Zuckerberg Organizations: Meta, Facebook, Cambridge, Federal Bureau of Investigation, Apple, IBM Locations: Nebraska, San Bernardino , California, WhatsApp, United Kingdom

Signage is seen for British utility company Thames Water at a repair site in London, Britain, June 28, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Thames Water, Britain's biggest water utility, is proceeding with a three-year turnaround plan, it said on Tuesday, adding it had a high level of liquidity and the support of investors, as it seeks to ease concern over its financial stability. Thames Water's environment record has also come under scrutiny. "Our shareholders support this much needed investment, underscoring their commitment to delivering Thames' turnaround." Robert Goodwill, chairman of Britain's environment, food and rural affairs committee, said that he may need to ask Thames Water bosses further questions.

Persons: Toby Melville, Cathryn Ross, Alastair Cochran, Robert Goodwill, Sarah Young, Kate Holton, Barbara Lewis Organizations: Thames, REUTERS, Media, Thames Water, Ontario, China Investment Corp, Thomson Locations: London, Britain, Thames

☆ Biden decries Hamas sexual assaults and says they must be forcefully condemned
▼ + stars: | 2023-12-05 | by ( Kevin Liptak | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden on Tuesday decried sexual assaults committed by Hamas during its October 7 terror attack on Israel and called on “all of us” to condemn the acts. “Over the past few weeks, survivors and witnesses of the attacks have shared the horrific accounts of unimaginable cruelty. Biden on Tuesday also accused Hamas of refusing to release additional female hostages and ending the pause in fighting that the US helped broker last week. “Let me be crystal clear: Hamas’ refusal to release the remaining young women is what broke this deal and end the pause in the fighting. Everyone still being held hostage by Hamas need to be returned to their families immediately.

Persons: Joe Biden, ”, —, ” Biden, “, …, Pramila Jayapal, –, CNN’s Dana Bash, Jayapal, Biden, We’re Organizations: CNN, Democratic, Congressional Progressive Caucus, Union, Democrats Locations: Israel, Boston, “, Gaza

But the growing movement of Russian women underscores the complexity and innate inequality of keeping so many men at war for so long while many more of fighting age remain at home. It is too soon to assess the size or impact of the movement of Russian women in a society which the authorities say is united behind the war effort. Women in Ukraine have also demanded their men be allowed back from the front. When Putin ordered a partial mobilisation of 300,000 reservists in September 2022, hundreds of thousands of young men rushed to leave Russia. Petitions to bring their men back produced almost no response, and Russia's defence ministry has barely engaged with the women, Andreeva said.

Persons: Maria Andreeva, Yulia Morozova, Vladimir Putin, Andreeva, Putin, Dmitry Medvedev, Vitaly Milonov, Milonov, Guy Faulconbridge, Timothy Organizations: State Duma, REUTERS, Kremlin, Reuters, Russia's Security, New, Timothy Heritage, Thomson Locations: Russian, Ukraine, Moscow, Russia, MOSCOW, Soviet Union, Chechnya, Andreeva, Western

"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.

Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia

☆ Piper Sandler champions Nvidia's opportunity beyond AI chips — underscoring our post-earnings analysis
▼ + stars: | 2023-12-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

Piper Sandler reiterated its buy-equivalent rating on Nvidia's stock and $620 per-share price target, which implies nearly 33% upside from its Friday close. After Nvidia's more-than-200% stock-price gain this year, investors are wondering what's "new" about Nvidia, Jim Cramer said Monday. The answer to that question is software, Jim said, which could eventually help offset the historically boom-and-bust nature of semiconductor sales. Over time, though, Piper Sandler believes software can become a "significant portion" of Nvidia's total revenue. Despite our alignment with Piper Sandler on Nvidia's long-term software opportunity, Jim on Monday cautioned that its stock could be due for a breather.

Persons: Piper Sandler, Nvidia's, Jim Cramer, Jim, Jim Cramer's Organizations: Nvidia, Devices, AMD, Software, Enterprise, Club, Apple, CNBC, Visitors, NVIDIA, Hangzhou Apsara, Getty, Nurphoto Locations: Hangzhou, Hangzhou Apsara Conference, Zhejiang province, China

☆ Trump is showing how a second term would rewrite the rules of presidential power
▼ + stars: | 2023-12-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump is underscoring the profound choice that voters could face next year with expansive claims of unchecked presidential power alongside increasingly unapologetic anti-democratic rhetoric. This has huge consequences not simply for the courtroom accounting that is yet to take place over his first turbulent term. If the twice-impeached former president wins the Republican nomination and the presidency, it is already clear that a second term would risk destroying the principle that presidents do not hold monarchial power. “Joe Biden is not the defender of American democracy,” Trump said during a campaign stop in Cedar Rapids, Iowa, on Saturday. And if he succeeds in 2024, his legal arguments will have been a warning of a second term that he envisions with almost no guardrails.

Persons: Donald Trump, – he’s, Joe Biden, ”, He’s, Tanya Chutkan, Trump, Chutkan, Biden, “ Joe Biden, ” Trump, … it’s, –, Trump’s, Ron DeSantis, “, ” DeSantis, Liz Cheney, Mike Johnson, ” Cheney, Washington , South Carolina Republican Sen, Lindsey Graham, CNN’s Dana, Cheney, ” Graham, Liz Cheney's, Sri Srinivasan, Steven Sadow, ” Chutkan Organizations: CNN, Republican, US, GOP, Florida Gov, Trump –, Trump, Republican Party, CBS, Washington , South Carolina Republican, Union ”, ”, Capitol Locations: Cedar Rapids , Iowa, Iowa, Florida, Wyoming, Congress, United States, Washington , South, “ State, Washington , DC, ”, Fulton County , Georgia

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Market participants now await policy comments from Powell at two separate discussions scheduled for 11 a.m. After recent conflicting remarks from other policymakers, investors are concerned that Powell could push back against the rate cut narrative. Other officials, including Fed Governors Lisa Cook and Chicago Fed President Austan Goolsbee are also scheduled to speak during the day. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Powell, Jerome Powell's, Dow Jones, underscoring, Sophie Lund, Yates, Hargreaves Lansdown, Lisa Cook, Austan Goolsbee, Alibaba, Morgan Stanley, danuglipron, Paula Oyibo, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Chicago Fed, P Global, ISM, Dow e, Pfizer, Marvell Technology, Automation, Thomson Locations: New York City, U.S, Bengaluru

☆ Asia factory activity weakens, uncertainty on China clouds outlook
▼ + stars: | 2023-12-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17, 2020. The data shows that factories are producing less and hiring fewer people," Dan Wang, chief economist at Hang Seng Bank China, said of China's PMI readings, which have different samples. Export-reliant Japan, South Korea and Taiwan bore the brunt of sluggish global demand with their manufacturing activity remaining stagnant in November, surveys showed. Japan's final au Jibun Bank manufacturing PMI fell to 48.3 in November from 48.7 in October, shrinking at the fastest pace in nine months. Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in Indonesia and the Philippines, the surveys showed.

Persons: Dan Wang, Toru Nishihama, Leika Kihara, Jamie Freed Organizations: REUTERS, PMI, Korea Soft, P Global, Hang Seng Bank, Dai, Research, Jibun Bank, Research Institute, Thomson Locations: Huzhou, Zhejiang province, China, Japan, S, TOKYO, Europe, United States, Hang Seng Bank China, South Korea, Taiwan, Asia, Vietnam, Malaysia, Indonesia, Philippines

☆ French ministers head to Indo-Pacific, Australia in diplomatic push
▼ + stars: | 2023-11-30 | by ( John Irish | ) www.reuters.com time to read: +4 min

[1/3] French Foreign Affairs Minister Catherine Colonna and French Defence Minister Sebastien Lecornu leave following the weekly cabinet meeting at the Elysee Palace in Paris, France, November 22, 2023. France, with overseas territories in the Pacific and Indian Ocean and 7,000 troops stationed there, considers itself an Indo-Pacific power. The loss of a major submarine deal with Australia in 2021 forced it rethink its strategy amid ongoing regional tensions with China in the disputed South China Sea. Underscoring those efforts, Defence Minister Sebastien Lecornu will host in the French overseas territory of New Caledonia between Dec. 4-8 the South Pacific Defence Ministers Meeting, the first time it has hosted the format since it was created in 2013. While it has diversified its ties across the Pacific, France has also worked on rebuilding its partnership with Australia.

Persons: Catherine Colonna, Sebastien Lecornu, Sarah Meyssonnier, Ferdinand Marcos, Karen Lerna, Sandra Maler Organizations: Foreign, French Defence, REUTERS, South Pacific, South Pacific Defence Ministers, South, Australia, Canberra, Thomson Locations: Paris, France, Philippines, Malaysia, Australia, PARIS, Pacific, Ocean, China, India, Indonesia, Japan, New Caledonia, Britain, United States, South Korea, Spain, Manila, South China, Kuala Lumpur

Chartbook: India electricity generationTotal electricity demand met increased by 24 billion kilowatt-hours (kWh) (+21%) in October compared with the same month a year earlier. Wind increased by 0.3 billion kWh (+10%) while solar was up 1.3 billion kWh (+16%). Instead the electricity system turned to gas (1.6 billion kWh, +103%) and especially coal (28 billion kWh, +33%) to meet demand. Coal-fired generators produced a seasonal record of 111 billion kWh in October 2023 up from 84 billion kWh in October 2022. Over the same period, coal generation capacity has increased by just 9 million kilowatts (1% per year) and gas-fired capacity has been essentially unchanged.

Persons: Adnan Abidi, John Kemp, Barbara Lewis Organizations: REUTERS, UN, Central Water Commission, Thomson, Reuters Locations: New Delhi, India, Dubai, Himalayas, Tibet, baseload

☆ Don't make these common 401(k) mistakes. With one, many 'aren't even aware' they're missing out, expert says
▼ + stars: | 2023-11-30 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Even the majority of those that do contribute say they are not on track with their yearly 401(k) savings to retire comfortably. Here are three common mistakes workers often make when it comes to their 401(k) plans. Most 401(k) plans — 98% — make contributions to workers' retirement savings, according to the Plan Sponsor Council of America. And yet, roughly 22% of plan participants are not getting the full match, according to data from Fidelity, the nation's largest 401(k) plan provider. To that end, couples with two employer savings plans could benefit from prioritizing the more generous employer's 401(k) matching funds.

Persons: Joe Buhrmann, Mike Shamrell, Shamrell, Fidelity's, Buhrmann Organizations: CNBC, of America, Fidelity, Finance, IRS, IRAs, Workers

☆ The US economy grew by 5.2% in the third quarter, even faster than previously estimated
▼ + stars: | 2023-11-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —US economic growth was even stronger in the third quarter than previously estimated, underscoring the economy’s remarkable resilience in the face of elevated inflation and high borrowing costs earlier this year. Wednesday’s latest reading reflects an even faster pace of growth than the blistering 4.9% rate the department initially estimated. Nonresidential fixed investment, or business spending, was revised up to a growth rate of 1.3% in the third quarter from a decline of 0.1%. Fourth-quarter spending likely won’t be as piping hot, however. Fed officials pay close attention to various facets of the US economy when deliberating monetary policy, including growth.

Persons: ”, Gregory Daco, “, Christopher Waller, American Enterprise Institute . Waller, Michelle Bowman Organizations: DC CNN, Gross, Commerce, Consumer, Adobe Analytics, Institute for Supply Management, Employers, Atlanta Fed, Federal, ”, American Enterprise Institute ., Fed Locations: Washington, EY, Salt Lake City

Greenhouse gas emissions from burning fossil fuels are the biggest cause of climate change. "We have a world which has more fossil fuels than ever," said Ani Dasgupta, president of the World Resources Institute, a climate NGO. U.S. officials and others are hopeful a recent climate deal between the U.S. and China may also set a positive tone for the talks. Another test is whether wealthy nations announce money for the fund at COP28 - to the tune of hundreds of millions of dollars. "Speaking from previous experience, unfortunately most of the global agreements, most of the global climate related pledges went uncompleted," said Najib Ahmed, National Consultant at Somalia's Climate Ministry.

Persons: Sultan al, Jaber, ADNOC, Ani Dasgupta, Narendra Modi, Britain's King Charles, Joe Biden, Gayane, Najib Ahmed, Valerie Volcovici, Josie Kao Organizations: OPEC, United Nations, International Energy Agency, BBC, World Resources Institute, Indian, European Union, Reuters, U.S, FINANCE, EU, Climate Ministry, “, Thomson Locations: Paris, France, WASHINGTON, BRUSSELS, Dubai, UAE, U.S, China, India

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