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☆ The best songs this summer sound like total nonsense. That's a good thing.
▼ + stars: | 2024-06-30 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +7 min

"Brat," along with viral hits like Sabrina Carpenter's "Espresso" and Tinashe's "Nasty," have ushered in a season of pleasure and levity — what my friends and I have been calling a "smooth brain summer." The primary lure of pop music has always been escapism. Indeed, we've lived in a pop world dominated by Taylor Swift and refashioned in her likeness for several years. These peculiar bops form the perfect foundation for a "smooth brain summer" soundtrack — though please note that doesn't mean they're devoid of value or meaning. An appetite (and a need) still exists for complex metaphors, history lessons, and personal revelations in pop music — but now is not the time.

Persons: —, Mitski, Noah Kahan, Ethel Cain, bumpin, Sabrina Carpenter's, ure, ike, ike O livia R odrigo, l, odrigo, ake, ould, ike T ikTok, ong, abel, alue Organizations: Service, Business, DJ, ust

☆ Heat waves in Europe are getting more dangerous. Here’s what that means for travelers
▼ + stars: | 2024-06-29 | by ( Billy Stockwell | ) edition.cnn.com time to read: +10 min

CNN —Growing up in Texas, Mary Beth Walsh thought she was accustomed to high temperatures. Her hometown of Dallas, which is currently being blasted by unrelenting heat, frequently experiences heat waves. “I always joke around that I have such a high heat tolerance; I bring my sweatshirt with me to class in August (in the US),” she said. Hiking in high temperatures has been a common thread linking recent deaths in the country. Amer Ghazzal/ShutterstockExtreme heat is one consequence of climate change impacting tourist hot spots across Europe.

Persons: Mary Beth Walsh, “, ”, Michael Mosley, we’ve, ” Roo Clark, Stefanos Sidiropoulos, Sidiropoulos, acclimatize, Guglielmo Mangiapane, ” Eduardo Santander, ‘, Amer Ghazzal, Clark, ” Clark, Andrea Ammon, ECDC, Hilary Swift, ” Rebecca Carter, Carter Organizations: CNN, Dallas, “, ” Authorities, Tourism Council, Reuters, European Travel Commission, ETC, Santander, European Centre for Disease Prevention, Authorities, Bloomberg, Getty, World Resources Institute Locations: Texas, Athens, Europe, Greece, British, Suffolk, England, Skyros, Canada, Hellas, Italy, Rome, Perugia, Palermo, Rhodes, Czech Republic, Bulgaria, Denmark, Portugal, Spain, Spain’s Seville

☆ France's army chief says small drones will lose their battlefield advantage. But Ukraine likely won't be changing tack anytime soon.
▼ + stars: | 2024-06-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +5 min

Read previewSmall aerial drones have dominated the battlefield in Ukraine, but according to French Army Chief of Staff Gen. Pierre Schill, they could soon lose their combat advantage. "The life of impunity of small, very simple drones over the battlefield is a snapshot in time," Schill said. ADRIAN DENNIS/ Getty ImagesThe use of drones will likely fluctuateFormer British Army officer Christopher Lincoln-Jones told Business Insider that the use of small drones in warfare would likely "ebb and flow." Greg Bagwell, the UK Royal Air Force's former Deputy Commander, told BI "there is some truth" to Schill's comments about the future of small drones in battle. Both sides are also pumping money into developing AI-powered drones that can bypass electronic warfare systems.

Persons: —, Pierre Schill, Schill, ADRIAN DENNIS, Getty, Christopher Lincoln, Jones, they're, Greg Bagwell, it's, Bagwell, Forbes Organizations: Service, French Army, Defense, Business, British Army, Royal Air, NATO, FPVs, Lincoln, Atlantic Council Locations: Ukraine, Paris, Lincoln, Russia

☆ Israel has never been impressed with its version of the $1 billion Patriot air defense system. Now it could offload up to 8 to Ukraine.
▼ + stars: | 2024-06-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +5 min

It would be a welcome moment for Ukraine, which has long coveted more of the $1 billion US-manufactured Patriot systems. "Israel's Patriots would greatly expand Ukraine's air defense capacity at a time when it is sorely needed," John Hardie, the Deputy Director of the Foundation for Defense of Democracies Russia Program, said. Zelenskyy's Patriot pleasUkrainian President Volodymyr Zelenskyy has never been shy about his desire to get his hands on more Patriot systems. AdvertisementIn April, Zelenskyy told NATO members that Ukraine needed at least seven Patriot or other advanced air defense systems to defend against Russian attacks. The Patriot air defense systemA 2023 report by the Congressional Research Service describes the Patriot system as an "integral component of U.S. air and missile defense."

Persons: —, Vladimir Putin's, John Hardie, Ryan Bohl, RANE, Bohl, Volodymyr Zelenskyy, Zelenskyy, Putin, Joe Biden, John Kirby Organizations: Service, Russian, Financial Times, Business, Israel's Patriots, Foundation for Defense of Democracies Russia, Israeli Air Force, Patriot, Iraqi Scud, Officials, East, Hezbollah, NATO, Patriots, New York Times, National Security, Congressional Research Service Locations: Israel, Ukraine, North Africa, Lebanese, —

☆ Obama, Clinton excuse Biden's debate performance to fend off Democratic meltdown: 'Bad debate nights happen'
▼ + stars: | 2024-06-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Former Presidents Barack Obama and Bill Clinton on Friday tried to do some damage control following President Joe Biden's debate fumble against his November election opponent, former President Donald Trump. The messaging from Obama and Clinton marks a shift in strategy for Democrats as they try to course-correct after Thursday's flop. The comments from Obama and Clinton represent a new tact: Acknowledge the debate disaster and then tell the public not to focus on it. But I know what I do know: I know how to tell the truth." The Biden campaign has so far rejected that proposal.

Persons: Barack Obama, Bill Clinton, Joe Biden, Joe Biden's, Donald Trump, Obama, Clinton, Biden, Mitch Landrieu Organizations: Radio City Music Hall, Obama, NBC, Trump, Democratic, Biden Locations: New York City, North Carolina

☆ Biden campaign fundraises $27 million after first debate
▼ + stars: | 2024-06-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

US President Joe Biden speaks at the Stonewall National Monument Visitor Center grand opening ceremony in New York on June 28, 2024. The Biden campaign has raised $27 million starting from the day of the first presidential debate through Friday evening, a campaign spokesperson announced on Saturday. The Biden campaign, the Democratic National Convention, and Biden PACs and committees jointly raised $85 million in May, lagging behind Trump's $141 million haul in the same month that the former president was convicted on 34 felony charges. The Biden campaign did not immediately respond to a request for comment about how much of this new fundraising came from grassroots donors online versus higher-dollar donors. Biden supporters, including former Presidents Barack Obama and Bill Clinton have tried to spin the debate by recognizing, rather than ignoring the president's debate blunders while also asking voters to look past them.

Persons: Joe Biden, Biden, Joe Biden's, Donald Trump's, Camp David, Barack Obama, Bill Clinton Organizations: Stonewall, Monument Visitor, Democratic National Convention, Biden, Democratic, Trump, Monument Visitor Center, Pride, Camp Locations: New York, Atlanta, Raleigh , North Carolina, North Carolina, New Jersey

☆ The US has sent at least 14,000 of its massive, highly destructive 2,000-pound bombs to Israel since October 7, report says
▼ + stars: | 2024-06-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe US has shipped at least 14,000 MK-84 2,000-pound bombs to Israel since the start of the war in Gaza in October, Reuters reported, citing two US officials briefed on an updated list of shipments. US support for IsraelThe US has also shipped 6,500 500-pound bombs, 3,000 Hellfire missiles, and other munitions to Israel since October 7, the two officials told Reuters. Domestically, Biden's support for Israel has become a contentious issue, particularly among young voters. AdvertisementBusiness Insider reported in May that Biden's reelection campaign was struggling to shore up support among those critical of his support for Israel.

Persons: —, Israel, John Chappell, Tom Karako, Biden, Netanyahu Organizations: Service, Reuters, New York Times, Business, Executive, Armaments, Ammunition, Munitions, US, Center for Civilians, CNN, Israel, Hellfire, Center for Strategic, International Studies, Biden, Israel Defense Forces, IDF, Pentagon Locations: Israel, Gaza, United States

☆ A teenager fell off a Utah cliff to his death. His sister found a unique way to keep his memory alive
▼ + stars: | 2024-06-29 | by ( Sydney Bishop | ) edition.cnn.com time to read: +12 min

Jonathan was taking photos when a cliff he stepped on crumbled and he fell more than 200 feet to his death. After his death Rebecca looked through her brother’s cameras and found photos Jonathan had taken the day he fell. Contributors to the Jonathan Fielding journal project follow instructions left with the journal, seen here near Utah's Highway 24. Sherr Joy recognized the name and the description from having read the news about Jonathan’s death. Courtesy Rebecca FieldingAccording to Rebecca, Jonathan once spent 30 minutes dissembling a lamp in a stranger’s yard to free a bird trapped inside.

Persons: Jonathan Fielding, Rebecca, Rebecca Fielding, ” Jonathan, she’d, ideations, “, ” Rebecca, Takis, ”, Jonathan, Jon G, Fuller, didn’t, “ Jonathan, “ Jonathan Fielding, Bro, ” Tammy Mayo Fielding, Jonathan’s, Sherrie Joyce Miller, Kelli Hansen, Miller, Joy, Sherr Joy, ” Rebecca Fielding, Hansen, ” Sherr Joy, “ Jonathan Fielding’s, Lord Huron, ” Jonathan Fielding's, David W, James H, Jonathan …, Jonathan —, she’s, ‘, ‘ Rebecca, I’m, ’ ” Rebecca, “ I’ll, I’ll, don’t Organizations: CNN, Capitol, Facebook Locations: Utah, Missouri, 988lifeline.org, Orem , Utah, Blue Springs , Missouri, Hanksville , Utah, Utah's, The Netherlands, “, San Rafael

☆ Biden and Trump both want you to ignore the obvious
▼ + stars: | 2024-06-29 | by ( Katherine Tangalakis-Lippert | Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

But that's not what it looked like on Thursday when Biden floundered in his debate performance against former President Donald Trump, political strategists told Business Insider. "It was a disaster for President Biden," Alex Zdan, GOP political strategist and former New Jersey Republican candidate for US Senate, told BI. Where the similarities endAnother Trump presidency would mean a vastly different America than if Biden won a second term. When BI reached out for comment, representatives for the Trump campaign declined to answer questions about similarities between Trump and Biden. To have a chance, Biden will need that constituency to ignore his poor debate performance and questions about his age.

Persons: Joe Biden, Biden, that's, Donald Trump, Alex Zdan, David Triana, Gavin Newsom, Triana, Dustin Siggins, Siggins, Rebecca Horan, MAGA, Horan, —, Trump, Timothy Snyder, He's, He'd, gamely, he's, Christian Grose, Qasim Rashid, Rashid, Biden's Organizations: Service, North Carolina State Fairgrounds, Business, GOP, New, New Jersey Republican, US, Republicans, Democratic, Triana, Democratic Party, MAGA Republicans, Trump, BI, Independents, USC, Biden, New York Times, Board, Times Locations: New Jersey, North Carolina, American, China, Virginia and Illinois, America, —

☆ I was nervous when my teenagers started dating. I learned to set simple expectations and allow room for mistakes.
▼ + stars: | 2024-06-29 | by ( Rebecca Hastings | ) www.businessinsider.com time to read: +4 min

Somehow, we are supposed to know what to do when our kids start dating. I had three kids in three and a half years, and now that they're all teens, we are in the thick of teen dating. One of the best things you can do is to show interest in learning about the people your teens are dating. Doing this shows your teen how much you love them and helps you get to know the person your teen is dating. There will likely be some disagreements when your teens are dating, but with good communication, you can get to the other side together.

Persons: Rebecca Hastings, — Organizations: Service

☆ Insider Today: Delta's bougie new lounge
▼ + stars: | 2024-06-29 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. On the agenda:This story is available exclusively to Business Insider subscribers. The highly anticipated lounge — which comes in at nearly 40,000 square feet — offers high-class perks like a wellness center, terrace, and full-service restaurant. BI's reporter got a tour, and says it's the best lounge of its kind. AdvertisementMore of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Tyler Le, Lisa, Nicole, Malorie, bearable, Emily Stewart, BI's Madison Hoff, Ayelet Sheffey, Ben Wigert, Amy Hardison, She's, Bryan Johnson, Hardison, Gareth Cattermole, playbook Taylor Swift, Travis Kelce, It's, Taylor Swift, Taylor Rains, John F, Kate Dehler, niacinamide, Abanti Chowdhury, Celine Dion, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Business, Creative, Air Lines, Kennedy International Airport, BI, Hulu, realtors, Shark Locations: newsrooms, New York City, London, New, Manhattan, New York, Chicago

☆ Summer camps are cracking down on 'Sephora kids' by banning luxury skincare products
▼ + stars: | 2024-06-28 | by ( Anna Silman | ) www.businessinsider.com time to read: +8 min

Kagan said all the kids kept asking, "Can I bring my Sephora?" Related storiesBryn Mawr has become one of several ritzy sleepaway camps — including Camp Mataponi in Maine and Tyler Hill Camp in Pennsylvania — that have sent letters discouraging or explicitly banning luxury skincare products. AdvertisementJane Kagan, left, said she knew she had a problem when fourth and fifth graders were asking her about bringing their many skincare products to camp. Tali Shustik, whose 9-year-old daughter, Jett, attends Tyler Hill, said she was "thrilled" when she got the email from Siegel discouraging beauty products at camp. While Tyler Hill hasn't enacted an all-out ban, it allows campers to bring only the products they use regularly.

Persons: Jane Kagan, she's, Kagan, Stanley quenchers, Bryn Mawr, Camp Mataponi, Tyler, who's, Bryn Mawr's, Poconos, Wendy Siegel, Tyler Hill, Tali Shustik, Jett, Siegel, retinol, Shustik, I've, Rebekah Kondrat, she'd, Stanley, Kondrat, Mario Badescu, Jessica Newman, Scatico, Newman, Tyler Hill hasn't, glumly, Tali Shustik Rebecca Waxman Wuhl, Camp Canadensis, nonessential, Charlie, Ontario hadn't, I'm, Sol, It's, Dave Benett, pushback Organizations: Somerset Camp, Girls Locations: Bryn Mawr, Pennsylvania, Maine, Boca Raton , Florida, New York, Hudson, Florida, Philadelphia, Toronto, Ontario, Janeiro, Byoma

☆ Gen Zers and millennials are willing to go on summer vacation at all costs. Literally.
▼ + stars: | 2024-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how young people are booking their summer vacations , finances be damned. AdvertisementSurveys from Credit Karma, Bankrate, and Bank of America show Gen Zers and millennials are willing to go on summer vacation at all costs… literally. Almost half of millennials surveyed (47%) were willing to take on debt to fund their travel plans, with Gen Z not far behind (42%). AdvertisementAlmost a quarter of young people surveyed by Credit Karma expected to rack up $2,000 in debt this summer. And about 10% of that group were willing to push it even further, surpassing $4,000 in summer debt.

Persons: —, Joe Biden's, Donald Trump, Rebecca Zisser, John Towfighi, Zers, millennials, Gen, it's, you'll, Credit Karma, Klaus Vedfelt, That's, Rob Chisholm, Alyssa Powell, he's, Joseph Stiglitz, Trump, Stiglitz, Justin Sullivan, Chelsea Jia Feng, ChatGPT, Mark Zuckerberg, Sundar Pichai, — livestreaming, Twitch's Dan Clancy, Tyler Le, Gigi, Sackler, Ebrahim Raisi, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Biden, Business, Credit, Bank of America, Getty, SEC, Purdue Pharma, Dua Lipa, Coldplay Locations: Amalfi, Vegas, ., Glastonbury, New York, London

The debate between Donald J. Trump and President Biden had analysts in Asia fretting. During Thursday night’s debate, President Biden told former President Donald J. Trump that the United States is the “envy of the world.”After watching their performance, many of America’s friends might beg to differ. In Europe and Asia, the back-and-forth between the blustering Mr. Trump and the faltering Mr. Biden set analysts fretting — and not just about who might win the election in November. Image Mr. Biden leaving the debate stage. Kasit Piromya, Thailand’s foreign minister from 2008 to 2011 and a former ambassador to the United States, lamented the state of American politics.

Persons: Donald J, Trump, Biden, ”, fretting —, ” Simon Canning, ” Sergey Radchenko, Vladimir Putin, Xi Jinping, “, Putin, “ I’ve, Mr, Kenny Holston, François Heisbourg, Trump’s, “ I’m, Heisbourg, Radoslaw Sikorski, Marcus Aurelius, Commodus, Sikorski, Joe Biden’s, Donald Trump, Joe Biden, Daniela Schwarzer, Bogdan Butkevych, “ Trump, Chan Heng Chee, Ms, Chan, Lee Byong, ’ ”, Koichi Nakano, Haiyun Jiang, Narendra Modi, Tara Kartha, —, Shen Dingli, don’t, Kasit, Damien Cave, Lee Wee, Choe Sang, Vivian Wang, Camille Elemia, Mujib Mashal, Ségolène Le Stradic, Marc Santora Organizations: Johns Hopkins School, International Studies, —, Mr, Russia, New York Times, Trump, Bertelsmann Foundation, Washington , D.C, Credit, Kremlin, Kyiv Independent, Biden unnerves, Institute for Far Eastern, Kyungnam University, Sophia University, The New York Times, Washington, National Security Council of, ”, Weibo Locations: Asia, Australian, United States, Europe, Australia, Washington, Russia, China, North Korea, Ukraine, Lebanon, Iran, Israel, Japan, South Korea, Gaza, Jerusalem, France, Washington ,, American, Ukrainian, North, Seoul, “, United, Tokyo, The New York Times India, National Security Council of India, New Delhi, Beijing, India, Communist, Shanghai, U.S, Southeast Asia

☆ This smiling robot has a face covered in ‘living’ skin
▼ + stars: | 2024-06-28 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

While it might look like the stuff of nightmares, this tiny robot covered in living skin could mark a step forward in the quest to make robots more human-like. It’s the work of researchers in Japan, who say they have discovered a new way to bind living skin tissue to a mechanical robotic surface. Previously, he developed a “living” robot skin — using collagen, a fibrous protein in human skin, and human dermal fibroblasts, the main cell type in connective tissue — that could be applied to a robotic finger and bend without breaking. The new method uses V-shaped holes on the robot's surface to attach the living skin securely. However, ensuring the consistency and quality of the living skin might not be so easy, says Takeuchi.

Persons: Shoji Takeuchi, ”, Takeuchi, Takeuchi isn’t, Will Jackson, ” Jackson, Hanson Robotics ’ Sophia, Grace, Yifan Wang, Wang, ” Takeuchi, Wang — Organizations: CNN, Institute of Industrial Science, University of Tokyo, Engineered Arts Ltd, Hanson Robotics ’, Nanyang Technological University, Singapore, The University of Tokyo Locations: Japan

President Joe Biden delivers remarks during the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. Many of the Democratic Party's top fundraisers are privately sounding the alarm after President Joe Biden's disappointing debate performance Thursday against Republican former President Donald Trump. CNBC began hearing from worried Democratic campaign donors and fundraisers less than 20 minutes into the 90-minute debate hosted by CNN. "Game over," said a longtime Democratic campaign advisor, who has been raising money for congressional leaders for over a decade and helped raise money for Biden's 2020 White House bid. Biden's campaign co-chair Mitch Landrieu told NBC News this was because the president had a cold.

Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, Biden's, He's, doesn't, Jaime Harrison, Ronald, Reagan, George W, Bush, Barack, Obama, I've, we've, Jack Tapper, Tapper, Mitch Landrieu, Landrieu, Kamala Harris, Trump, Kate Bedingfield Organizations: CNN, CNN Studios, Democratic, Republican, CNBC, Democratic National, NBC News, Patrol, Democratic National Convention, White House Locations: Atlanta , Georgia

☆ Bronny James picked up by the Lakers in second round of NBA draft
▼ + stars: | 2024-06-27 | by ( David K. Li | Rebecca Cohen | ) www.cnbc.com time to read: +2 min

Bronny James #0 of the Sierra Canyon Trailblazers is greeted by his father and NBA player LeBron James after defeating the the Perry Pumas in the Hoophall West tournament at Footprint Center on December 11, 2021 in Phoenix, Arizona. James was picked up by the Los Angeles Lakers, where he will join father LeBron James on the court next season, during the second round of the draft on Thursday. The first round of the NBA Draft came and went Wednesday night without Bronny James being called out at Barclays Center in Brooklyn. LeBron James has until Saturday to decide whether he wants to stay with the Lakers, where he's played since 2018-19. At the ancient basketball age of 39, Lebron James remarkably remains one of the game's most dynamic players.

Persons: Bronny James, LeBron James, James, he's, Dell, Steph Curry, Lebron James Organizations: NBA, Perry Pumas, Footprint Center, Los Angeles Lakers, Barclays Center, Lakers, University of Southern, USC, Southern Locations: Phoenix , Arizona, Brooklyn, University of Southern California

☆ Presidential debate live updates: Biden faces Trump in Atlanta
▼ + stars: | 2024-06-27 | by ( Dan Mangan Kevin Breuninger Christina Wilkie Brian Schwartz Rebecca Picciotto Josephine Rozzelle | Dan Mangan | Kevin Breuninger | ) www.cnbc.com time to read: 1 min

President Joe Biden and former President Donald Trump are squaring off in their first debate of the 2024 White House race in Atlanta on Thursday night. NBC News Now will stream CNN's Presidential Debate live. The 90-minute debate comes as Trump faces two pending criminal prosecutions over the Republican's efforts to overturn his defeat as president in the 2020 election to the Democrat Biden. There will be no studio audience for the debate, and each candidate's microphone will be muted when it is their opponent's turn to speak. CNBC's team of politics and economics reporters will be covering the candidates, the lead-up and the debate live from Washington, D.C.; CNBC Global Headquarters in Englewood Cliffs, New Jersey; and New York City.

Persons: Joe Biden, Donald Trump, Democrat Biden, Jake Tapper, Dana Bash Organizations: White, NBC, Trump, Democrat, CNN, Washington , D.C, CNBC Global Headquarters, New Locations: Atlanta, Washington ,, Englewood Cliffs , New Jersey, New York City

But, not all AI startups are created equal. AdvertisementBusiness Insider surveyed nine VCs who invest in AI startups at firms like Bain Capital Ventures, Flybridge, and Sapphire Ventures. Startups building AI's "picks and shovels" are a better bet than yet another LLMStep aside, OpenAI and Anthropic. In contrast, unstructured data encompasses various formats such as text documents, images, audio files, emails, social media posts, and videos. Some AI investors say they're shying away from point solutions—think online payment processing or project management—in favor of full-stack solutions.

Persons: —, Harvey, Navin Chaddha, Chip Hazard, they're, Kahini Shah, there's, Rak Garg, Garg, Shah, Lauri Moore, Moore, Chaddha, Capital's Moore, she's Organizations: Service, Accel, Business, Bain Capital Ventures, Flybridge, Sapphire Ventures, Google, Meta, Mayfield Fund, Flybridge Capital Partners, Obvious, Investors, Obvious Ventures, Foundation, Dig Ventures Locations: Mayfield, Hazard, Flybridge

☆ Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
▼ + stars: | 2024-06-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC. President Joe Biden's Cabinet will wrap up a barnstorming tour Thursday after two weeks on the road, touting the administration's economic accomplishments ahead of the Democratic incumbent's first debate against former President Donald Trump. In the 10 days leading up to Thursday's debate, the White House organized 29 public events, featuring more than a dozen top administration officials to promote Biden's economic agenda, a White House official said in a memo announcing the blitz. Not anymore," Neera Tanden, White House domestic policy advisor, said in the release. "Thanks to President Biden's economic plan, the American economy is strong and resilient, with robust economic growth in recent quarters," she said in a speech Monday.

Persons: Joe Biden, Janet Yellen, Gina Raimondo, Joe Biden's, Donald Trump, Lael Brainard, Pete Buttigieg, Neera Tanden, Yellen, Biden's Organizations: White House, Democratic, White, National Economic, Transportation, Seniors Locations: Washington , DC, Georgia , Nevada , Pennsylvania, Michigan, White, Minnesota, American

☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

☆ Sixteen Nobel Prize-winning economists warn a second Trump term would 'reignite' inflation
▼ + stars: | 2024-06-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. "While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump's," the economists wrote. "There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," wrote the group of politically progressive academics. Joseph Stiglitz, who won the Nobel Prize in 2001, led the effort to publish Tuesday's letter. "Nonpartisan researchers, including at Evercore, Allianz, Oxford Economics, and the Peterson Institute, predict that if Donald Trump successfully enacts his agenda, it will increase inflation," the economists wrote.

Persons: Donald Trump, Joe, Donald Trump's, Axios, Trump, Joseph Stiglitz, George Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric Maskin, Daniel McFadden, Paul Milgrom, Roger Myerson, Edmund Phelps, Paul Romer, Alvin Roth, William Sharpe, Robert Shiller, Christopher Sims, Robert Wilson Organizations: Federal Reserve Board, Wall Street, Evercore, Allianz, Oxford Economics, Peterson Institute Locations: China

☆ Aston Martin to start delivery of Alonso-inspired race car Valiant in fourth quarter
▼ + stars: | 2024-06-25 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. The company will produce only 38 units of the Valiant, a vehicle designed by the Aston Martin team alongside Formula One driver and two-time world champion Fernando Alonso. Alonso is one of Aston Martin Aramco Formula One Team's drivers, alongside Stroll's son, Lance. Aston Martin Racing and Aston Martin Lagonda are distinct entities. New Tab , opens new tab

Persons: Aston Martin DBX, Aston Martin, Rebecca Naden, Fernando Alonso, Lawrence, Valiant, Alonso, Aston, Stroll's, Lance, Aston Martin Lagonda, Yadarisa, Devika Organizations: REUTERS, Aston, Formula, Reuters, Aston Martin Aramco, One, Aston Martin Racing, Thomson Locations: Barry , Wales, Britain, British, Saudi, Bengaluru

☆ Venture firms could be the latest target for AI disruption, and that's not the only threat to VCs
▼ + stars: | 2024-06-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .

Persons: —, VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago

☆ Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden
▼ + stars: | 2024-06-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot. As part of its new actions, Treasury will provide $100 million over the next three years to finance affordable housing projects. Housing costs in particular, which make up some of the largest portions of consumer spending, have remained stubbornly high even as other sectors have cooled down. Biden has tried to punt the responsibility of high housing costs on corporate landlords, accusing them of "rent gouging," keeping consumer rents artificially high even as their own costs have come down.

Persons: Janet Yellen, Joe Biden, Donald Trump, hunkers, Camp David, Yellen, Biden, Adrianne, Pete Buttigieg Organizations: Camp, Housing, Urban, Adrianne Todman, Biden, White, Apartment Association, NAA Locations: Fairfax , Virginia, Minneapolis, Minnesota

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