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But what does the Fed mean when it talks about labor markets and their impact on inflation? What’s happening: At its most basic level, labor productivity is a measure of the value of the goods and services produced by a company compared with the amount of labor used to produce that output. Labor productivity decreased 2.1% in the first quarter of 2023, the US Bureau of Labor Statistics reported earlier this month. The silver lining: The good news is technological innovations typically drive upturns in productivity and AI could be such an innovation. Absolutely not,” Yellen said, echoing the joint statement leaders from the Group of Seven made at last month’s summit in Japan.
Persons: Lisa Shalett, , Lisa Cook, Joseph Brusuelas, Sundar Pichai, aren’t, Jeffrey Sonnenfeld, Richard Blumenthal, , Doug McMillon, Roger McNamee, Steven Spielberg, Vito Corleone, Janet Yellen, ” Yellen, Elisabeth Buchwald, Yellen, Biden Organizations: CNN Business, Bell, New York CNN — Federal Reserve, Morgan Stanley Wealth Management, Fed, Labor, US Bureau of Labor Statistics, BLS, McKinsey Global Institute, Federal, RSM US, of America, Google, Yale School, Management’s, Leadership Institute, Walmart, Technology, Financial, International Monetary Fund, Inter, American Development Bank group’s, African Development Fund, IMF Locations: New York, United States, Michigan, Connecticut, China, Japan
"The internal dynamic of this war is a bit beyond what an external actor can really influence". After the latest 24-hour truce expired on Sunday, residents in Khartoum and capital area reported fresh artillery fire and clashes. The United States and Saudi Arabia, which lies across the Red Sea from Sudan, have sponsored talks in the Saudi port city of Jeddah. EXODUSThe failure of talks has put the nation, which was already reliant on aid, in a perilous humanitarian state. It could take generations to try to put back together," said Alan Boswell, Horn of Africa Director for Crisis Group.
Persons: Magdi El, Mohamed Hamdan Dagalo, Abdel Fattah al, Burhan, Mohamed Mokhtar, Hemedti, Mokhtar, Omar al, Bashir, Mahasin Ibrahim, Alan Boswell, Horn, Aidan Lewis, Khalid Abdelaziz, Daphne Psaledakis, Nafisa, Edmund Blair, Frank Jack Daniel Our Organizations: Rapid Response Forces, United Arab Emirates, Valley Institute, U.S . State Department, Reuters, Crisis, Thomson Locations: Jeddah, Khartoum, CAIRO, truces, United States, Saudi Arabia, Egypt, Sudan, Saudi, UAE, Cairo, Abu Dhabi, African Union, KHARTOUM, Omdurman, Bahri, Darfur, North Kordofan, Port Sudan, El Geneina, Chad, Sudanese, Africa, East, Europe, Dubai, Washington
Having a career plan is great, but you don't want to overdo it. Uber CEO Dara Khosrowshahi says the most common mistake he sees young people make is overplanning. "I always tell people that the most common mistake I see in young people is that they overplan their career," Khosrowshahi said on a recent podcast of Acquired. An analyst is not supposed to talk to a CEO," Khosrowshahi said. IAC ended up buying Expedia in 2001, and four years later, Khosrowshahi became CEO of the travel booking company.
Persons: Dara Khosrowshahi, , Khosrowshahi, Khosrowshahi's, Barry Diller, Diller, Barry, Herbert Allen, Allen, Uber Organizations: Service, Allen & Company, Paramount, USA Networks, IAC, Allen, Uber's Locations: Expedia
When it comes to swiping through dating profiles, the balance between being discerning and openminded can be hard to strike. If you veto anyone who doesn't have what you consider to be a perfect profile, you'll never swipe right. "One of the biggest red flags for a dating profile is negativity," says Rachel DeAlto, chief dating expert at Match.com. 'You're setting yourself up for failure and heartache'What exactly does a negative profile look like? "You're setting yourself up for failure and some heartache if you're trying to connect with a person like that."
Persons: you'll, Rachel DeAlto, DeAlto
A Chinese property developer is offering gold bars to buyers in a desperate bid to boost home sales. According to The Guardian and local media outlets, the property developer in question is Huafa Group, which is based in Hangzhou, a city in eastern China. Disgruntled buyers are raging over the gold barsHowever, some buyers have been kept waiting for the promised gold after purchasing a flat. A staff member at Huafa told Insider the Huafa Hui Tianfu development had "nothing to do" with them. Flashy giveaways are commonplace in China's property marketThis is not the first time Chinese property developers have dangled freebies to entice homebuyers.
Persons: , they've, monthslong, Hui Tianfu, China's, Zhu, Xian, Shao, Xiao Qiang, homebuyers Organizations: Service, Guardian, Weibo, China's Twitter, Huafu Group, Jiemian, Huafa, Qianjiang Evening, Estate Development Corporation, China Index Academy, Bloomberg, Wall Street Locations: Hangzhou, China, Hangzhou Yuejia
Currently, the Federal Deposit Insurance Corp. insures $250,000 per depositor for each ownership category for deposits held at an insured bank. That year, the standard maximum deposit insurance amount was temporarily raised to $250,000, from $100,000. How future deposit insurance may changeThe FDIC in May released a report that outlined three options for the future of the deposit insurance system. This may include an increased, yet also "finite," deposit insurance limit, the FDIC's report states. A third choice, targeted coverage, would provide different levels of deposit insurance coverage for different types of accounts, with higher coverage for business payment accounts.
Persons: Lauren Justice, First Republic —, Martin Gruenberg, Gruenberg, Ted Jenkin, Atlanta . Jenkin, Jenkin Organizations: Bank, Bloomberg, Getty, Valley Bank, Signature Bank, CNBC, Millionaire Survey, Federal Deposit Insurance Corp, First, Committee, Silicon Locations: Beverly Hills , California, First Republic, Atlanta .
Chris Christie laid into Donald Trump in a CNN town hall Monday night, calling the former president “angry” and “vengeful” and accusing him of “vanity run amok” within the event’s opening minutes. Chris Christie greets CNN's Anderson Cooper at the start of the CNN Republican Presidential Town Hall in New York on Monday, June 12. Christie speaks during the town hall. I’ve done it in the toughest state,” Christie said, allowing that perhaps New York, California and Illinois might be tougher on Republicans. “Let’s leave it to the states and if a consensus emerges, we’ll know it.”Christie speaks to the audience during the town hall.
Persons: Chris Christie, Donald Trump, , , Christie –, , Christie, ” Christie, Joe Biden, CNN's Anderson Cooper, Laura Oliverio, CNN’s Anderson Cooper, Trump, ’ ” Christie, “ They’re, CNN Christie, Christie Christie, “ You’ve, ” Christie –, New Jersey –, “ I’ve, he’s, ” Chris Christie, you’ve, Trump’s, Cooper, Roe, Wade, – Trump, “ We’re, DeSantis, Nikki Haley, Bernadette Tuazon, he’d, Warren, Christie’s, I’ll, TikTok Organizations: CNN, Former New Jersey Gov, Republican, Trump, GOP, ” Former New Jersey Gov, CNN Republican Presidential Town, Trump –, District of, Justice Department, Democratic, Biden, South, United Nations, Social Security, actuaries, North Koreans, China, Facebook, Twitter Locations: New York, Christie’s, York, District of New Jersey, Iran, Trump, New Jersey, New York , California, Illinois, Washington, legislating, Oklahoma, Kansas, South Carolina, China, Russia, Beijing, United States
Bruce Feiler analyzed 400 people to find out what makes some people love what they do and others feel frustrated. Ask yourself questions like "If you could do one thing to be happier at work today, what would it be?" Author Bruce Feiler. You'll find a new job — but soon enough you'll be back where you started, asking the wrong questions and getting the wrong answers. Copyright © 2023 by Bruce Feiler.
Persons: Bruce Feiler, , I've, they've, Bruce Feiler ., Jonica Moore, You'll, you'll, — you'll, Mark Savickas, It's Organizations: Service, Kent State University, Penguin Press, Penguin Random
They were to blow up the Zaporizhzhia hydroelectric dam that bisected the eponymous industrial city, which stands 200 kilometers (125 miles) upriver from today’s Nova Kakhovka barricade). Local residents stand on the Dnipro embankment after the Nova Kakhovka dam breach on June 6. Rescue workers evacuate an elderly woman and her husband from a flooded neighborhood in Kherson, Ukraine, on Wednesday, June 7. Vladyslav Musiienko/Reuters Flooded streets are seen in Kherson on June 7 following the collapse of the Nova Kakhovka dam. Alina Smutko/Reuters In pictures: The collapse of Ukraine's Nova Kakhovka dam Prev NextUkraine’s armed forces have insisted that their counter-offensive included contingency planning for a disaster at the dam.
Persons: Ukraine CNN — Fish, ecocide ”, unawares, Ivan Antypenko, Volodymyr Zelensky, Zelensky, General’s, , Ukraine’s, It’s, who’ve, Vladimir Putin, Andrei Pidlisnyi, , Evgeniy, Angelina Kopayeva, Alex Babenko, Vladyslav Musiienko, Muhammed Enes Yildirim, Tetiana, Alexey Konovalov, Felipe Dana, Musiienko, Nina Lyashonok, Oleksandra, Alina Smutko Organizations: Ukraine CNN —, Nazi, NKVD, Reuters, International, Criminal, Kherson City, Ukrainian, CNN, AP, Anadolu Agency, Planet Labs PBC, Reuters Red Cross, AP Local, Culture, Reuters Local Locations: Kyiv, Ukraine, Nova, Dnipro, Russia, Moscow, Russian, today’s, Reuters Ukrainian, Kherson, Zaporizhzhia, Donetsk City, Kharkiv, Kherson . Roman, Vladyslav, Nova Kakhovka, Libkos, Crimean, Crimea, Russia’s
CNN —Russian forces have been shooting at Ukrainian rescuers trying to reach flooded areas in the Kherson region that are under Russian control, Ukrainian President Volodymyr Zelensky said Wednesday. Ukrainian Prime Minister Denys Shmyhal claimed occupying Russian forces have offered “no help” to residents in flooded areas. Vladyslav Musiienko/Reuters Flooded streets are seen in Kherson on June 7 following the collapse of the Nova Kakhovka dam. Rescuers evacuate a local resident from a flooded area after the Nova Kakhovka dam breached in Kherson, Ukraine, on June 7. Conditions for residents in flooded areas are dire, with “hundreds of thousands of people left without normal access to drinking water,” Zelensky said.
Persons: Volodymyr Zelensky, Zelensky, ” Zelensky, won’t, , Roman Skabdrakov, Denys Shmyhal, , Evgeniy, Angelina Kopayeva, Alex Babenko, Vladyslav Musiienko, Muhammed Enes Yildirim, Tetiana, Ivan Antypenko, Alexey Konovalov, Felipe Dana, Musiienko, Nina Lyashonok, Oleksandra, Alina Smutko, Shmyhal, Oleksandr Prokudin, Ihor, Selena Kozakijevic, Kozakijevic Organizations: CNN, Russian, Rescuers, , Kaiman Volunteer, Military, Ukrainian, AP, Anadolu Agency, Planet Labs PBC, Reuters Red Cross, AP Local, Culture, Reuters, Reuters Local, United Nations, Humanitarian Affairs, UN, Ukraine’s Ministry, Internal Affairs, Internal, CARE Locations: Kherson, Ukrainian, Russian, Nova Kakhovka, Dnipro, Kherson region, Moscow, Russia, Oleshky, Kherson “, Ukraine, Nova, Kherson . Roman, Vladyslav, Libkos, Zelensky, UN
Personal AI assistants will help make humans more efficient, the cofounder of DeepMind said. Personal AI assistants will also change how people search for information. Personal AI assistants that can do everything from shop and negotiate on your behalf are the future of AI, Mustafa Suleyman, the cofounder of DeepMind and CEO of Inflection AI, said Tuesday during an interview with CNBC. Suleyman, of course, has a vested interest in personal AI assistants. Suleyman isn't the only tech leader that thinks personal AI assistants will mark a profound change in how we use technology.
Persons: DeepMind, Mustafa Suleyman, Suleyman, Pi, isn't, Suleyman isn't, Bill Gates, Goldman Sachs, Bard Organizations: CNBC, Google, AIs, SV Angel
German financial expert Gerd Kommer breaks down the biggest mistakes young people make with money. One, he said, is the belief that interest-bearing bank deposits will earn them a lot of money. Wealth accumulation through interest-bearing bank depositsBelieving that wealth can be built through interest-bearing bank deposits is wrong, Kommer said. Believing that capital-building life insurance policies are sensible wealth-building productsA capital-building life insurance policy is a form of life insurance where the policyholder pays regular premiums and, in return, receives a guaranteed sum at the end of the term. There is also the risk that the insurance company may encounter financial difficulties, endangering the guaranteed payout, Kommer added.
Persons: Gerd Kommer, , Kommer Organizations: Service, Gerd Kommer Invest GmbH Locations: Germany, South Africa, United Kingdom, London
CNN —Thousands of homes in Haiti have been flooded following heavy rains over the weekend, leaving at least 42 people dead and 85 injured, according to a statement released by the country’s Civil Protection Agency on Monday. The intense rainfall caused several rivers throughout Haiti to overflow, which in turn sparked flash floods, flooding, rockslides and landslides, according to a United Nations report. Richard Pierrin/AFP?Getty ImagesA view from the area after flooding in the Portail Leogane, in Port-au-Prince, Haiti, on June 4, 2023. People make their way through puddles while walking in the middle of a street littered with garbage following heavy rains in Port-au-Prince. Ariana Cubillos/APA view from the area after flooding in the Portail Leogane, in Port-au-Prince, Haiti, on June 4, 2023.
Persons: Ariel Henry, Richard Pierrin, Guerinault Louis, Prince, Ariana Cubillos Organizations: CNN, Civil Protection Agency, United, Haitian, Getty, Anadolu Agency, Food, UN, of Humanitarian Affairs, Locations: Haiti, United Nations, Nippes, South, East, North, Petit, Goâve, AFP, Port, Prince, Caribbean
North Korea spent the pandemic building a huge border wall
  + stars: | 2023-05-26 | by ( ) www.reuters.com   time to read: +11 min
As the pandemic began, North Korea moved to seal its northern borders, tightening control over informal trade routes and making escape harder for defectors. Nov. 16, 2019 Minimal security features visible along North Korea’s border with Russia. Food shortages in North Korea have worsened in recent months, due in part to the border closures, according to international experts. Still, he said, there were reports of foreign shows such as the South Korean hit “Squid Game” finding their way into North Korea. “It's all the more reason for the international community to step up efforts to support North Korean rights,” he said.
But he'll stay home on Election Day should Trump win his party's nomination to take on Joe Biden in 2024. In Pennsylvania and Michigan, the size of the Ukrainian-American community outstrips Trump's margin of victory in 2016, according to the analysis. During a CNN town hall last week, Trump refused to say if he wanted Ukraine to win its war with Russia, when questioned about the conflict. Neither politician responded to requests for comments about the Ukraine war, nor did the Republican National Committee. Democratic U.S. Representative Susan Wild, who won Stawnyczyj's district by less than 5,000 votes in 2022, said that courting the Ukrainian-American vote would be crucial.
[1/6] Serbia's main opposition parties protest against violence and in reaction to the two mass shootings in the same week, that have shaken the country, in Belgrade, Serbia, May 19, 2023. REUTERS/Marko... Read moreBELGRADE, May 19 (Reuters) - Tens of thousands marched through Belgrade on Friday in an anti-government protest following two mass shootings that killed 18 people, blaming the deaths on a culture of violence that critics say authorities have allowed to fester unchecked. Reuters estimated the protest, the third of its kind this month, drew a crowd in the tens of thousands. The government denies the opposition parties' allegations and accuses them of organising the protests for political gain. In a counter-rally in Pancevo, a town outside Belgrade, Vucic accused the opposition of trying to use the mass shootings for self promotion.
China's Gen Z is broke. And America's Gen Z is in rough shape financially too, though not as bad as US millennials. They're sharing photos of savings accounts on Weibo and paychecks on TikTok, respectively, to prove it. Rather than sharing screenshots of their bank accounts, TikTok users in the US are dishing on details of their weekly paychecks, including itemized breakdowns of where every dollar goes. And unemployment rates among China's Gen Z are at a record high; the generation has been dubbed China's "unluckiest generation."
PHILADELPHIA — The afternoon before Election Day, Jennifer Robinson, 41, was trying to manage her two small children in the quiet corner of a public library in a pocket of her city that had endured generations of abandonment. She was despondent about the state of Philadelphia, most of all about the crime, but she talked about the mayoral primary as if it had little bearing on any of it. “Nobody has any answers,” Ms. Robinson said, shifting her restless 11-month-old from arm to arm. “It’s a feeling of hopelessness.”This is the city that Cherelle Parker will be leading as mayor if she wins the general election in November, and these are the sentiments she will be trying to turn around. On Tuesday, Ms. Parker, a former state legislator and City Council member, secured a surprisingly decisive victory in a Democratic primary that had been seen as a tight five-way race up until Election Day.
Istanbul CNN —A hushed silence fell over the crowd outside the Istanbul headquarters of Turkish President Recep Tayyip Erdogan’s ruling Justice and Development (AK) party. Sullen faces turned to the election count on the large screen — Erdogan’s vote had dropped below the 50% threshold needed to clinch the first round of Sunday’s historic election. Erdogan secured a five-point lead over his principal opponent, destining them to a run-off vote. Turkish President Tayyip Erdogan and his wife Emine Erdogan meet supporters outside a polling station in Istanbul, Turkey May 14, 2023. Then our President Erdogan saves us.”Ahead of the run-off vote, Erdogan now has two weeks in which to save himself – and all the indications are that he begins, as ever, from a place of strength.
She wound up in credit card debt and eventually lost her home to the bank. Between her own lived experiences and now having coached so many individuals, two money mistakes stand out as the most common ​​— and detrimental to building wealth. The second common money mistake Aliche has observed over time is that, "people don't get started because they're overwhelmed. She's been there, she said: "I thought, there's no way I can pay off $35,000 in credit card debt. While it's important to learn from financial mistakes, try not to dwell on them, she added: "People are too hard on themselves.
From M&A to trading, things have been slow on Wall Street this year. Life on Wall Street can be grueling — filled with long hours and strict in-office work policies. According to compensation consultancy Johnson Associates, Wall Street bonuses are on track to be disappointing — again — this year. Wall Street pros have been predicting a slow first half of the year, with expectations that business prospects will improve in the second half of the year. "When you're talking about pay on Wall Street, these people make multiples of what real people make," he said.
One of the biggest blunders people make is racking up credit card debt that rolls over every month. In the fourth quarter of 2022, the average credit card APR was 20.40%, according to data from the Federal Reserve. Saving for retirementOnce you've hit the basics, it's time to look at a longer time horizon: saving for retirement, Stevenson said. And the longer you wait to start saving for retirement, the more you'll need to increase your monthly allocation to catch up. Depending on the type of account you have, it could also be set up for your retirement contributions to automatically increase with a raise.
Users often don't even notice when AI is involved, adds Sarah Coles, head of personal finance at Hargreaves Lansdown. "For example, AI is used by banks to track spending, and automatically alert people when they spend, or reach a specific level in their account. Kimberly Dillon, vice president for brand at AI-powered financial services app Cleo, also believes new money management tools could emerge. Many banks and financial services providers are establishing a presence in the metaverse," she said. Chatbots can often execute basic financial interactions, for example, and AI tools can set off alarm bells around suspected fraud, she explained.
New York CNN —During his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. In the quarter ending on April 2, sales at company-operated Starbucks stores open at least 13 months jumped 11% globally, including a 12% increase in North America. Before officially becoming CEO in March, Narasimhan spent about six months shadowing former interim CEO Howard Schultz in an incoming CEO capacity. Since December 2021, about 300 Starbucks stores have voted to unionize and been certified by the NLRB. It’s a relatively small number compared to the roughly 9,300 company-operated Starbucks stores in the United States.
Some of us would like to slow this down because we are seeing more costs every day, but I don’t think that means that there are no benefits. We may someday have a technology that revolutionizes science and technology, but I don’t think GPT-5 is the ticket for that. Combine that human overattribution with the reality that these systems don’t know what they’re talking about and are error-prone, and you have a problem. I don’t think we should go after an individual who posts a silly story on Facebook that wasn’t true. I don’t think, however, that the technology we have right now is very good for that — systems that can’t even reliably do math problems.
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