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☆ The odds of Russia's economy collapsing are 'extremely small' and the war can go on for the long term, economist says
▼ + stars: | 2024-11-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's war economy ins't in imminent danger of collapse, economist Vladislav Inozemstev said. AdvertisementRussia may stand a better chance at sustaining its war economy than previously thought. "The people realize that the 'war economy' has substituted the anemic economic condition of the 2010s." Inozemstev said he expected Russia's economy to continue to grow in 2025 and beyond, forecasting 2%-2.5% GDP growth next year. The International Monetary Fund has said it is expecting Russia's economy to expand by 3.6% in 2024.

Persons: Vladislav Inozemstev, —, Inozemstev Organizations: Service, Middle East Media Research Institute, Kremlin, Monetary Fund Locations: Russia, Russian, Soviet Union

CNN —Germany’s governing coalition has collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister. The coalition has been at loggerheads over how to revive Germany’s economy. What problems is Germany’s economy facing? Germany’s economy, Europe’s largest, shrank last year for the first time since the onset of the Covid-19 pandemic. Party leader Alice Weidel has already hailed the coalition’s collapse as a “liberation” for Germany.

Persons: Chancellor Olaf Scholz, Christian Lindner’s, Scholz, Donald Trump, Europe’s, Angela Merkel, Gerhard Schröder, Merkel, Christian Lindner, Christoph Soeder, Friedrich Merz, Lindner, Liesa Johannssen, “ Lindner, ” Lindner, ”, Carsten Brzeski, “, Robert Habeck, Annegret Hilse, Merz, Alice Weidel, ” Weidel Organizations: CNN, Free Democrats Party, Scholz’s Social Democratic Party, SPD, Green Party, CDU, Trump, Social Democratic Party, Greens, ING, Volkswagen, CDU –, Christian Democratic Union, Party Locations: Germany, Germany’s, Nazi, Thuringia, France, Italy, Ukraine, China, ”

☆ Fed Chair Powell: We aim to balance a strong labor market with progress on inflation
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We aim to balance a strong labor market with progress on inflationFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell: We believe we can complete inflation task while keeping labor market strong
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We believe we can complete inflation task while keeping labor market strongFederal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its second consecutive interest rate cut on Thursday.

Persons: Powell, Jerome Powell Organizations: Central Bank

UFC media rights are up for renewal next year, and TKO Group Chief Operating Officer Mark Shapiro tells me he thinks Netflix could be getting in the ring. "I think absolutely, they'll be at the table on UFC," Shapiro said in an exclusive CNBC Sport interview. Still, even with the WWE deal, Netflix didn't fully embrace its new role as a platform for live sports. "I think absolutely, they'll be at the table on UFC," Shapiro said in an exclusive CNBC Sport interview. Still, even with the WWE deal, Netflix didn't fully embrace its new role as a platform for live sports.

Persons: Alex Sherman, Mark Shapiro, Shapiro, They've, We've, Ted Sarandos, Sarandos, it's, Jake Paul, Mike Tyson, Netflix hasn't, we're, Tyson, Paul, It's, Vince McMahon, McMahon, He's, he's, –, We're, Dick Clark, Paul Levesque, Dana White, Stan Kasten, Adam Silver, Adam, I'm, That's, Juan Soto, Shohei, Ohtani, Kasten, Jonathan Kraft, Sportico's, Kraft, Babe Ruth, Collect, Ruth, Red Ruth, Deiveson Figueiredo, Brandon Moreno, Louis Grasse Organizations: CNBC, UFC, Netflix, WWE, Disney, MMA, National Football League, NFL, Dick Clark Productions, Golden Globe, –, Professional Bull Riders, Endeavor, PGA Tour, Comcast, Dodgers, NBA, Major League Baseball, New York Yankees, Nice, CNBC Sport, Ham Fighters, Summer, NBC, Tennis, Consumers, New England Patriots, Boise State, Louis Locations: U.S, Canada, It's, Los Angeles, Ohtani's, Hokkaido Nippon, Oregon, Gila, Glendale , AZ

☆ Labor market is key focus of Fed rate cut, says Morgan Stanley's Jim Caron
▼ + stars: | 2024-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLabor market is key focus of Fed rate cut, says Morgan Stanley's Jim CaronDavid Kelly, JPMorgan Asset Management chief global strategist; Jim Caron, Morgan Stanley Investment Management CIO of cross asset solutions; and Stephanie Roth, Wolfe Research chief economist join CNBC's 'Power Lunch' to discuss reactions to the Federal Reserve's decision to cut interest rates by a quarter point.

Persons: Morgan Stanley's Jim Caron David Kelly, Jim Caron, Morgan, Stephanie Roth, Wolfe, CNBC's Organizations: Labor, JPMorgan Asset Management, Morgan Stanley Investment, Wolfe Research, Federal

☆ America now looks to the Fed for clues on future rate cuts
▼ + stars: | 2024-11-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

The move comes as inflation remains on a downward trend while the job market continues to lose momentum. While that has helped rein in price pressures, it also puts the job market in jeopardy. So I’m going to be patient.”Still, rate cuts are expected to stretch through 2025, even during a Trump presidency, according to economists. On one hand, there’s evidence that America’s job market has continued to lose momentum in recent months. But since Trump’s economic vision could eventually stoke inflation, that could mean the Fed delivers fewer rate cuts in the coming years.

Persons: Jerome Powell, Donald Trump, Powell, “ I’m, Raphael Bostic, ”, Kamala Harris, Felipe Villarroel, —, Trump, hasn’t, Arthur Burns, Richard Nixon, Ben Bernanke Organizations: Washington CNN, Federal, President, White, Atlanta Fed, Trump, TwentyFour Asset Management, Fed, CNN, White House, Capitol Locations: Jackson , Mississippi

Trump’s Hispanic vote percentage beat the previous record, set by George W. Bush's in 2004, when Bush won as much as 44% of the Hispanic vote. Pennsylvania voter Regino Cruz, 25, said Tuesday that he voted for Trump, believing the former president could improve the economy. In the battleground state of Pennsylvania, 4 in 10 Latino voters supported Trump, up from 3 in 10 in 2020. Carlos Odio, co-founder of Equis Research, a Democrat-leaning polling and research company, said Latino voters who backed Trump liked his prioritization of the economy. “Trump is going to put an end to that.”Hispanic men were key in propelling Trump to victory and a historic Latino vote share.

Persons: Donald Trump, Kamala Harris, Trump, George W, Bush, Barack Obama, Hilary Clinton, joe Biden, Harris underperformed Biden, underperformed Biden, Regino Cruz, ”, Cruz, John B, Puerto Rico, Harris, Sen, Ted Cruz of, Ethan Miller, Eduardo Gamarra, ” Gamarra, Biden, Carlos Odio, ” Odio, “, Odio, Justin Hamel, Artemio Muniz, Muniz, Kalman Nunez, “ Trump, Fernando Rivera, Danny Martinez, Yahaira Rodríguez, ” Christianea Valentine, Vianca Rodriguez Organizations: House, Republican, NBC, Trump, Stetson Middle School, Puerto, Telemundo, CNBC, Democratic, Republicans, Ted Cruz of Texas, Department, Florida International University, Equis Research, Democrat, National Guard, Border Patrol, Bloomberg, Getty, Federation of Hispanic Republicans, Puerto Rico Research, University of Central, “ Locations: Wisconsin, Michigan, Pennsylvania, Texas, Florida, Puerto Rican, Northern Philadelphia, Starr County , Texas, Miami, Dade , Florida, Clark, Las Vegas, U.S, ”, New York, New Jersey, Mexico, Sasabe, Milwaukee, Puerto Rico, University of Central Florida, Philadelphia

To lower housing costs, Trump has said he would allow homes to be built on federally protected land, something that could help increase the supply of homes in places like Nevada and Arizona. TaxesTrump has proposed a number of tax cuts, including a complete elimination of the federal income tax. Those cuts lowered the corporate tax rate to 21% from 35%, reduced individual income tax rates, and increased the standard deduction. That could create havoc for workers and consumers and reduce the amount of income taxes the federal government brings in. About 40% of Social Security recipients pay federal income taxes, typically because they have other sources of income that raise them above a certain threshold where they are required to pay income tax, according to the Social Security Administration.

Persons: Donald Trump, Trump, —, ” Trump, “, Decker, Matt Priest, ”, Priest, It’s, He’s, hasn’t, Immigration Trump, Jim Tobin, Trump’s Organizations: Trump, Chicago Economic, Companies, National Bureau of Economic Research, Footwear Distributors, Retailers, U.S, Federal Reserve, Immigration, Business, Pew Research Center, NBC News, National Association of Home Builders, NBC, University of New, University of Pennsylvania, Social Security, Social, Social Security Administration Locations: U.S, China, Nevada, Arizona, Alaska, Saudi Arabia, Russia, University of New Hampshire

Republicans have averted a potential disaster in Nebraska, with NBC News projecting that Sen. Deb Fischer has won re-election to a third term. Fischer faced a surprisingly competitive challenge from independent Dan Osborn, a mechanic and union leader who cast her as a creature of Washington. Fischer's win gives the Republicans 51 Senate seats, putting them over the threshold needed for control of the chamber, NBC News projects. But it has been nearly 20 years since the state elected a Democrat to the Senate, and Republicans typically carry statewide races with ease. Fischer was elected to the Senate in 2012 in a resounding victory over Democratic former Sen. Bob Kerrey, who had also been governor.

Persons: Sen, Deb Fischer, Fischer, Dan Osborn, Donald Trump, Fischer's, Osborn, “ Deb Fischer, she’s, ” Trump, AdImpact, Bernie Sanders, Bob Kerrey Organizations: NBC News, Republican, GOP, NBC, Democrat, Senate, Labor, Washington Examiner, MSNBC, Democratic Locations: Nebraska, Washington

Republican Bernie Moreno, a Colombian immigrant who became a high-profile Cleveland car dealer, has unseated Sen. Sherrod Brown, D-Ohio, NBC News projects. Republicans flipped another Democratic-held seat in a state Trump carried easily, West Virginia, on Tuesday and were aiming to capture another in Montana. Moreno’s victory also ends, for now, the 50-year political career of Brown, first elected as a state representative in the post-Watergate era. For decades Brown had fashioned himself as an unapologetic liberal and progressive tightly aligned with working-class voters, particularly organized labor. The messaging strategy, rooted in Trump’s Buckeye State popularity, bolstered Moreno even as Brown and the Democrats sought to exploit his shortcomings.

Persons: Bernie Moreno, Sen, Sherrod Brown, Moreno, Donald Trump, Brown, Patrick T, Fallon, Barack Obama, Trump, Joe Biden, Kamala Harris, ”, cringed, ” Nikki Haley Organizations: Cleveland, NBC, U.S . Senate, Republicans, Day, Trump, Getty, North American Free Trade, Republican, NBC News, South, United Nations Locations: Colombian, Ohio, U.S, West Virginia, Montana, Milwaukee, Cleveland, Buckeye, Colombia, Columbus, South Carolina

GOP Sen. Ted Cruz of Texas is headed back to Washington after he turned back a challenge from Democratic Rep. Colin Allred, NBC News projects. Cruz was boosted by gains he made among Latino voters in the Lone Star state, according to NBC News exit polls. Cruz, 53, fought back, seeking in the final weeks of the campaign to paint Allred as wanting to allow boys to play in girls sports. In the end, Allred’s campaign spent more than $50 million on ads in the race, just between Labor Day and Election Day, according to AdImpact. Cruz’s campaign spent $26 million in that time, with an additional $23 million spent by the Truth and Courage PAC, a group backing Cruz.

Persons: Sen, Ted Cruz of, Colin Allred, Cruz, Allred, Kamala Harris, “ dos, ”, Mitch McConnell, Matthew Bartlett, “ He’s, ” Bartlett, Harris Organizations: Democratic Rep, NBC, Lone Star, Labor, Courage PAC, GOP, Fund, Republican, Trump, Democrat Locations: Ted Cruz of Texas, Washington, Cancun, Cruz, “ Texas, Texas

☆ The Fed is expected to cut interest rates again Thursday. Here's everything you need to know
▼ + stars: | 2024-11-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The Federal Reserve likely will stick to the business at hand when it wraps up its meeting Thursday with another interest rate cut, but will have its eye on the future against a backdrop that suddenly has gotten a lot more complicated. The focus, though, will turn to what's ahead for Chair Jerome Powell and his Fed colleagues as they navigate a shifting economy — and the political earthquake of Donald Trump's stunning victory in the presidential race. So while the immediate action will be to stay the course and enact the cut, which equals 25 basis points, the market's attention likely will turn to what the committee and Powell have to say about the future. The fed funds rate, which sets what banks charge each other for overnight lending but often influences consumer debt as well, is currently targeted in a range between 4.75%-5.0%. Market pricing currently favors another quarter-point cut in December, followed by a January pause then multiple reductions through 2025.

Persons: Jerome Powell, Donald Trump's, Powell, Krishna Guha, Guha Organizations: Federal Reserve, Evercore ISI

☆ The NLRB filed a complaint against Apple. The former engineer who cofounded #AppleToo explains why it's important.
▼ + stars: | 2024-11-06 | by ( Helen Li | ) www.businessinsider.com time to read: +9 min

The NLRB filed a complaint against Apple, alleging labor law violations and retaliation. AdvertisementA culture of silenceScarlett's case is among other ongoing unfair labor practice complaints by former Apple employees. The future of labor organizing in Silicon ValleyThe NLRB has received an uptick in unfair labor practice filings from tech workers. "When we talk about labor law, we're really talking about unions and hourly labor, like retail, front line, and service workers," Scarlett said. Movements like #AppleToo reflect a greater push from tech workers, who expect more employer transparency.

Persons: Cher Scarlett, Scarlett, —, I'm, Bernie Sanders, Howard Schultz, Apple, Slack, – they're, Evan Starr, we're, Matthew Bodie, They're Organizations: NLRB, Apple, Service, Labor Relations, National Labor Relations, SEC, University of Maryland, Employees, Microsoft, Google, The New York Times, University of Minnesota Law School, Activision Blizzard, Mozilla Locations: Oakland, California, Silicon Valley, USA

☆ America’s economy explains a lot about why Trump got reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

That explains a lot about why Trump was reelected. Why the US economy stings so muchHousing: America’s home prices have reached new record highs for 15 straight months. No, really, the US economy is greatStill, Trump will be inheriting a strong economy — on paper, anyway. But they’re still growing at a 3.9% adjusted rate, according to the Department of Labor. Consumer spending, which accounts for more than two-thirds of America’s economy, is surging, rising 3.7% last quarter, the highest rate of growth since the first quarter of 2023, according to the BEA.

Persons: Donald Trump’s, Trump, Joe Biden, Kamala Harris, they’re, Biden, Covid, That’s, Trump’s Organizations: CNN, Republican, US Department of Housing, Urban Development, Bank of America, Brookings Institution, White, Democratic, Democrat, Companies, Bureau of Labor Statistics, Gross, Economic, International Monetary Fund, Labor, BEA Locations: America

Business leaders have been reacting to Donald Trump's presidential election victory. Silicon Valley was politically divided in the run-up to the election. Throughout the campaign, Silicon Valley has been divided on which candidate to back. Although Silicon Valley has historically leaned left, some of tech's biggest names, including Tesla CEO Elon Musk and venture capitalist David Sacks, tilted right this election season. Here is what some of the wealthiest and most influential business figures have to say about the election outcome.

Persons: Donald Trump's, —, Elon Musk, David Sacks, Harris, VCs, Trump, Joe Biden's Organizations: Service, Fox News, CNN, Trump, Electoral, Tesla, Labor Locations: Silicon, Ukraine

George Walker IV/AP Trump supporters watch election results come in at his election night party at the Palm Beach County Convention Center. Eva Marie Uzcategui/Bloomberg/Getty Images Election workers process mail-in ballots in West Chester, Pennsylvania, on Tuesday. Trump and Harris tied with three votes each in the tiny New Hampshire township, kicking off Election Day. Joseph Prezioso/AFP/Getty Images Election workers prepare ballots in Denver on Monday, November 4. RJ Sangosti/The Denver Post/Getty Images A patron eats inside a restaurant near the White House that had plywood covering its windows on the eve of Election Day. David Dee Delgado/AFP/Getty Images Election workers sort ballots during early voting in San Francisco on Thursday.

Persons: Donald Trump, Trump, Kamala Harris, Joe Biden, he’d, George W, Bush, Harris, Hillary Clinton, Austin Steele, Roe, Wade, Biden, It’s, West Virginia Sen, Joe Manchin’s, Jim Justice’s, Montana Sen, Jon Tester, Tim Sheehy, Ohio Sen, Sherrod Brown, Bernie Moreno, Sue Ogrocki, Colin Allred, Texas Sen, Ted Cruz, Debbie Mucarsel, Powell, Sen, Rick Scott, Mitch McConnell, John Cornyn, South Dakota Sen, John Thune, Democrats didn’t, Hakeem Jeffries, hamstrung, they’re, Harris underperformed Biden, –, ”, Jen O’Malley Dillon, David Axelrod, Puerto Rico, Chip Somodevilla, Ron DeSantis romped, Melania, Barron, “, Will Lanzoni, CNN Trump, Ian Maule, Go Nakamura, Jeff Roberson, Vincent Alban, Chet Strange, Leah Charles, Tianna Adams, George Walker IV, Christian Monterrosa, Shelby Knowles, Jason Bean, Rebecca Blackwell, Leah Millis, Brynn Anderson, Matt York, Paul Kuehnel, David Robert Elliott, Nathan Howard, San Francisco Columbarium, Jeff Chiu, Nicole Craine, Ernesto Benavides, Steven Vandenburgh, Charlie Riedel, Lindsey Wasson, Andres Leighton, Butch Wilmore, Suni Williams, Nick Hague, Don Pettit, Hague, Eva Marie Uzcategui, Matt Slocum, Susan B, Anthony, Lauren Petracca, Richard Burkhart, Ronald Reagan, Chris Pizzello, Rebecca Droke, Jay Janner, Ken Brandon, Charlie Neibergall, Scott Morgan, John Locher, Jordan Dunson, Chris Lachall, Bill Clark, David Goldman, David Dee Delgado, Suzanne Kreiter, Ryan Collerd, Joseph Prezioso, Charles Rex Arbogast, Patrick T, Fallon, Evan Vucci, Nam, Rebecca Cook, Elijah Nouvelage, Ed Jones, Jonathan Drake, Reuters Ohio Sen, JD Vance, Carolyn Kaster, Carlos Berríos Polanco, Skye, Quinn Glabicki, Jose Luis Magana, RJ Sangosti, Robyn Beck, Zach Boyden, Holmes, Mike Stewart, Carlos Osorio, Steven Senne, David Paul Morris, Kayria Hildebran, Jenny Kane, Craig Hudson, Bing Guan, Scott Olson, Lynne Sladky, Allison Joyce, Megan Varner, Scott Graham, Adam Bettcher, RONDA CHURCHILL, Republicans —, Texas — Organizations: CNN, White, Republican Senate, Democrats, Biden, Sun, Republican, Trump, Howard University, Democratic, Republicans, GOP, Navy, Bernie Moreno . Ohio Republican, AP Democrats, Senate, Rural, Penn State University, CNN –, Dorton, Voters, Republican Gov, Miami, Dade, CNN Trump, Reuters Trump, West Palm Beach, Reuters, Carolina, AP Trump, Convention, Center, Bloomberg, Getty, Empire, People, Reno Gazette, USA, Florida's, AP Observers, Spelman College, AP, York Hospital, Kansas City Urban Youth Academy, New York Times, CNN Howard University, San Francisco, AP Voters, NASA, Space, Mount Hope, Savannah Morning, Ronald Reagan Presidential, Austin American, Statesman, Hartford Memorial Baptist Church, Honda, Allegiant, Las Vegas Raiders, First Presbyterian Church, City, Inc, First Presbyterian, of, Boston Globe, Getty Images Trump, College Park ,, Getty Images Workers, Sipa, US, Denver Post, City of, Reuters Voters, City Hall, Atlanta's, Museum of Art, Pisgah Baptist Locations: Pennsylvania, Michigan, Wisconsin, Georgia, North Carolina, Arizona, Nevada, Michigan , Pennsylvania, Arizona , Georgia, New Mexico, Virginia, Trump, Washington , DC, West, Montana, Bernie Moreno ., Westlake , Ohio, Kentucky, Texas, South Dakota, Washington, New York, California, America, Pennsylvania’s Huntingdon, Montgomery County, Philadelphia, Harris, Oakland County, Trump’s, Raleigh , North Carolina, United States, Florida, Ohio, Dade County, West Palm Beach , Florida, Las Vegas, Chandler , Arizona, West Palm Beach, West Palm, Pewaukee , Wisconsin, Denver, Greensboro , North Carolina, Beach, Fulton, Fairburn , Georgia, Reno , Nevada, St . Petersburg , Florida, Atlanta, Phoenix, York , Pennsylvania, Kansas City , Missouri, Waleska , Georgia, Navajo, Kayenta , Arizona, AFP, Lawrence , Kansas, Seattle, Chinle , Arizona, West Chester , Pennsylvania, Rochester , New York, Garden City , Georgia, Savannah, Simi Valley , California, Pittsburgh, Austin , Texas, Hartford, Detroit, Omaha , Nebraska, Savannah , Georgia, Camden , New Jersey, San Francisco, Alexandria , Virginia, of Dearborn , Michigan, Boston, Lancaster , New Hampshire, Chicago, Palm Beach , Florida, College Park, College Park , Georgia, Leicester , North Carolina, Reuters Ohio, Cincinnati, Dearborn , Michigan, Caguas , Puerto Rico, Springfield , Pennsylvania, Dixville, New Hampshire, City, City of Industry , California, Des Moines , Iowa, Charlotte , North Carolina, Grand Rapids , Michigan, Providence , Rhode Island, Henderson , Nevada, Bronx, Portland , Oregon, Oregon, New Castle , Delaware, Pisgah, Pisgah Baptist Church, Brooklyn, Kenosha , Wisconsin, Miami, Wilmington , North Carolina, Minneapolis

While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta's chief, Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." Hay said that while most presidents wouldn't have any say on existing cases, "Trump is a bit more of a wild card." AdvertisementBut still, he said, new guidelines wouldn't have much impact on the biggest tech companies. There are fears that if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, GlobalData's Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, he's, Rathbun, James Brundage, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Business, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

AI regulation is likely to change under Trump, but major antitrust cases are unlikely to be impacted. While on the campaign trail, Trump threatened retribution against some tech companies, including jailing Meta chief Mark Zuckerberg. "That is likely to have devastating consequences for US tech companies that sell in foreign markets as well as crippling domestic consumption." AdvertisementBut still, new guidelines won't have much impact on the biggest tech companies, Hay said. Experts fear that, if H1-Bs are restricted under the second Trump administration, the US could lose its competitive edge on the world stage.

Persons: Donald Trump, —, Trump, Elon, marveling, — Musk, jailing, Mark Zuckerberg, Zuckerberg, Mark Lemley, Lemley, Neil Saunders, Chris Walton, Walton, there's, George Hay, Hay, wouldn't, Kamala Harris, Dan Romanoff, Joe Biden, Anna Rathbun, Biden, Rathbun, James Brundage, Ernst, Saunders, Valerie Wirtschafter, Harris, Romanoff, Wirtschafter Organizations: Trump, Big, Service, SpaceX, Big Tech, jailing Meta, Google, Justice Department, Department, Barclays, Stanford Program, Law, Science & Technology, Retail, Target, Apple, Cornell University, Republicans, Morningstar, AT, Time Warner, Republican, Walmart, Brookings, Artificial Intelligence, Emerging Technology Initiative Locations: Americas

☆ 4 major wins for YIMBYs on election night — and one loss
▼ + stars: | 2024-11-06 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Many of the efforts were focused on allocating more funds for affordable housing. They voted for a slew of measures, most of which will create additional funding for affordable housing. Affordable housing bonds in Rhode Island, North Carolina, and BaltimoreSeveral cities and states along the East Coast voted on Tuesday to fund affordable housing bonds. Proponents of stricter rent control say preventing landlords from price gauging is key to protecting the most vulnerable tenants. Freemark argued that it's unclear what the mixed results on rent control mean for the pro-housing movement.

Persons: —, Donald Trump's, Yonah, Karen Bass, Angelenos, Charlotte, Hill, Anselmo —, Freemark, I'm Organizations: Service, Trump, Republican Party, Urban Institute, LA, East Coast, Orlando In, Denver Locations: Angeles, Los Angeles County, LA, Rhode Island , North Carolina, Baltimore, Rhode Island, homebuyers, North Carolina, Asheville, New Orleans, Orlando, Orlando In New Orleans, Orlando , Florida, Denver, California, Hoboken , New Jersey

☆ Americans are probably getting another interest rate cut 2 days after the election
▼ + stars: | 2024-11-06 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

The Federal Reserve is expected to cut interest rates by 25 basis points on Thursday. It follows a 50-basis-point rate cut in September — the first cut in four years. CME FedWatch, which forecasts interest rate changes based on market predictions, estimated an all-but-certain 25 basis point cut as of Wednesday afternoon. "Borrowers should understand that 'falling interest rates' are not the same as 'low interest rates,'" Greg McBride, Bankrate's chief financial analyst, said in a commentary. AdvertisementWhat are your financial plans if the Fed makes another rate cut?

Persons: —, Donald Trump, Trump, Jerome Powell, Powell, Helene, Milton, Cory Stahle, Julia Pollak, Greg McBride Organizations: Federal, Service, FedWatch, Boeing, BLS, Federal Reserve, PCE, Fed, asheffey

☆ I renovated my backyard for my son's wedding. The $40,000 investment paid off when we sold the house years later.
▼ + stars: | 2024-11-06 | by ( Chris Mott | ) www.businessinsider.com time to read: +6 min

I spent 11 months fixing up our house so my son could get married in our backyard. The author decided to host his son's wedding in his backyard to save costs. Over the next 11 months, the four of us worked tirelessly to create the perfect wedding venue. The author redid his whole backyard for his son's wedding. AdvertisementThe author's backyard before and during his son's wedding.

Persons: —, Mikayla, they'd, I'd, we'd Organizations: Service, Bobcat, Craigslist, Army Locations: That's, Southern California, Yorba Linda, Sage, Georgia, Washington state

☆ A free AI tool can help you apply to hundreds of jobs per day. Users said there are risks, but they're worth it.
▼ + stars: | 2024-11-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

An AI tool called AIHawk is helping some job seekers apply for hundreds of jobs a day on LinkedIn. Some users told BI the program added false information into their resumesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA new AI tool released in August is helping some people quickly apply for roles on LinkedIn. Related Video "We've been using AI all along." AdvertisementAIHawk is free but users found problemsAIHawk is one of many AI job application tools on the market.

Persons: —, Federico Elia, AIHawk, Elia, who's, they've, There's, Anthony Ettinger, Ettinger, he's, Roth, Uber, hasn't, he'll, Tommi hasn't, Alexander Alonso, Alonso, Github — Elia, Guilherme, I've Organizations: LinkedIn, Service, Roth IRA, BI, Society for Human Resource Management Locations: Italy, Silicon Valley, Mexico City, Brazil

☆ Trump vow on new trade war sends shockwaves through supply chain, importers scramble to move up orders
▼ + stars: | 2024-11-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The global tariff threat is fueling calls for frontloading from all around the globe," he said. But they added it is based on the belief is tariffs increase the costs of trade, in turn lowering demand and volumes. "Shipping is a global industry feeding on international trade, so another Trump presidency is a step in the wrong direction," said Sand. "The knee-jerk reaction from U.S. shippers will be to frontload imports before Trump is able to impose his new tariffs." Logistics companies serving the Mexico to U.S. cross-border trade tell CNBC new Trump tariffs can have a negative impact on historic cross-border truck trade.

Persons: Donald Trump, Trump, Paul Brashier, Brashier, Swift, Ben Slupecki, Morningstar, Lars Jensen, Jensen, Peter Sand, Slupecki, Jefferies, Omar Nokta, Robert Lighthizer, Piper Sandler, Matthew Rubel, USTR, Obama, Peter Boockvar, Stephen Lamar, Lamar, Matthew Shay, Elect Trump Organizations: ITS Logistics, Trump, frontloading, Trucking, Hunt Transport Services, Schneider National, Norfolk Southern, CSX, Republican, U.S ., Maersk, . Shipping, Vespucci, CNBC, Shipping, U.S . Trade, Committee, Trade, White, Bleakley Financial, American Apparel and Footwear Association, National Retail Federation, Congress, Biden, Logistics Locations: United States, U.S, Maersk, East Coast, Mexico

Tech billionaire Elon Musk and his business empire stand to reap massive rewards if former President Donald Trump returns to the White House. Elon Musk joins former US President Donald Trump during a campaign event in Butler, Pa., on Oct. 5, 2024. “I love Elon Musk,” Trump said at a rally in July. It’s not clear how Musk and Trump would navigate the ethical questions around a possible government role for the tech billionaire. “He would be in much less trouble in a Trump administration because Trump shares his hostility to regulation and regulators,” Richard Pierce, a law professor at George Washington University specializing in government regulation, told NBC News in an interview earlier this year.

Persons: Elon Musk, Donald Trump, Musk, Trump, Vladimir Putin, SpaceX, ” Musk, Brian Hughes, ”, ” Hughes, Justin Merriman, ” Trump, “, walling, Kamala Harris, Harris, Biden, Larry Krasner, ” Richard Pierce, John Raoux, Angela Aneiros, ” Aneiros, Tesla, There’s, SpaceX countersued, • Tesla, ” SpaceX, Starlink, Justice Department —, Tucker Carlson, Carlson, he’s, SpaceX’s, Kamala Organizations: Tech, Trump, Musk’s, SpaceX, China —, U.S, Wall Street, NBC News, Boeing, Fox News, Bloomberg, Getty Images Trump, D.C, Trump Organization, Budget, America PAC, Philadelphia, George Washington University, Tesla, Co, Kennedy Space Center, Gonzaga University, university’s Center of Law, & Commerce, Justice Department, National, Traffic Safety Administration, Securities and Exchange Commission, Street, Justice, Employment, Commission, National Labor Relations Board, SEC, Twitter, Federal Communications Commission, Federal Aviation Administration, FAA, Safety, Health Administration, NLRB, Reuters, Defense Department, NASA, International, White, National Space Council Locations: China, United States, Taiwan, Ukraine, Washington, Trump’s, Pennsylvania, Butler, Pa, Palm Beach , Florida, Texas, California, Cape Canaveral, Fla, Los Angeles, Austin, Mars

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