DIRS.INFO The most relevant business & tech news

☆ Stocks tumble, oil spikes as Mideast tensions flare
▼ + stars: | 2024-10-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Gold and crude oil rallied, while the 10-year Treasury yield dropped. On the economic data front, job openings rose unexpectedly in August. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Traders elected to crowd into safe-haven assets like gold as Iran launched a barrage of missiles toward Israel on Tuesday. AdvertisementAs oil rallied, so did gold and the bond market, with investors piling into risk-off assets.

Persons: —, Helima Croft, Quincy Krosby, Bill Adams Organizations: Treasury, Service, Traders, RBC Capital Markets, CNBC, Global, LPL, Labor, Comerica Bank Locations: Israel, Iran, Lebanon

☆ Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India
▼ + stars: | 2024-10-01 | by ( Shubhangi Goel | Charissa Cheong | ) www.businessinsider.com time to read: +11 min

Some expat Indians are moving back home to launch companies of their own. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said. Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother. Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."

Persons: —, Nithin Hassan, — Hassan, Hassan, he's, Binod Khadria, Khadia, That's, Ben Mathias, VCs, Mathias said, Devyani Parameshwar, It's, Rohan Bhide, Bhide, Dhruv Anand, Dhruv Anand Dhruv Anand, Anand, Ruchit Garg, Garg, Niranjan Vemulkar, Vemulkar Organizations: Service, Amazon, Microsoft, Meta, Global Research, Diaspora, Business, Vertex Ventures, Indian, Startup, Reliance, Tech, Google Locations: India, Bengaluru, Oyo, Byju's, Asia, Africa, Delhi, Gurugram, Silicon Valley, It's, Mumbai, Bangalore

☆ East Coast port worker strike will hit every industry, says Moody's John Donigian
▼ + stars: | 2024-10-01 | 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 EmailEast Coast port worker strike will hit every industry, says Moody's John DonigianJohn Donigian, Moody’s senior director of supply chain strategy, joins 'Squawk on the Street' to discuss the economic impact of the port worker's strike, the products likely to be most affected, and much more.

Persons: Moody's John Donigian John Donigian, Moody’s

☆ This is how badly the port strike could wreck the US economy
▼ + stars: | 2024-10-01 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port workers' strike from Maine to Texas could deliver a major hit to the US economy. AdvertisementA strike involving port workers from Maine to Texas could inflict major damage to the US economy. The affected ports involve about half of the nation's ocean shipping. Analysts at JPMorgan have said the price tag for shutdowns related to the strike could reach $5 billion a day. Given that it's been decades since a major strike unfolded on the East Coast, he said, many companies were also likely caught off guard.

Persons: —, Adam Kamins, Kamins, Mirko Woitzik, Travis Tokar, Tokar, it's Organizations: Service, Moody's, Fed, JPMorgan, Texas Christian University's Neeley School of Business, kiwis Locations: Maine, Texas, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, New York, West Coast, East Coast

☆ Powell indicates further, smaller rate cuts, insists the Fed is 'not on any preset course'
▼ + stars: | 2024-09-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +4 min

But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. A basis point equals 0.01%. “We do not believe that we need to see further cooling in labor market conditions to achieve 2 percent inflation,” Powell added. For his part, Powell expressed confidence in economic strength and sees inflation continuing to cool. Broader economic conditions also set the table for further disinflation.”Following the speech, Powell was scheduled to sit for a question-and-answer session with Morgan Stanley economist Ellen Zentner.

Persons: Jerome Powell, ”, ” Powell, Powell, “, Morgan Stanley, Ellen Zentner Organizations: National Association for Business Economics, Committee, Fed Locations: Nashville

☆ Stock futures are flat after S&P 500 closes at a record to end winning September: Live updates
▼ + stars: | 2024-09-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures were little changed on Monday evening, after the S&P 500 closed at a record to end September. S&P 500 futures inched lower by 0.1%, while Nasdaq 100 futures were just below the flatline. In the regular session, the S&P 500 and the 30-stock Dow notched closing records. All three major averages posted monthly gains, and it was the first positive September for the S&P 500 since 2019. The S&P 500, Dow and Nasdaq Composite also ended the third quarter in positive territory.

Persons: Jerome Powell, nonfarm, Dave Sekera Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow, Federal, Investors, Morningstar, Traders, International Longshoremen's Association, Gulf Coasts, U.S, U.S . Bureau of Labor Statistics, Labor, Survey, P Global U.S, Manufacturing, ISM, PMI Locations: New York City, U.S, Gulf

☆ Watch Fed Chair Jerome Powell speak live on economy, policy views
▼ + stars: | 2024-09-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chair Jerome Powell is set to speak Monday to the National Association for Business Economists during the organization's annual conference in Nashville. The central bank chair is delivering his assessment on the economy as well as his policy views. Following the speech, Powell will speak in a moderated discussion with Ellen Zentner, global head of thematic and macro investing at Morgan Stanley Wealth Management. The speech comes less than two weeks after the rate-setting Federal Open Market Committee approved a half-percentage-point reduction in its key overnight borrowing rate, the first rate reduction in more than four years. Markets expect the Fed to follow up with additional cuts this year and in 2025 depending on the path of the economic data.

Persons: Jerome Powell, Powell, Ellen Zentner Organizations: National Association for Business Economists, Morgan Stanley Wealth Management, CNBC, YouTube Locations: Nashville

☆ I'm an expat living in Lebanon. I've struggled over whether to leave, but I won't because I love this country.
▼ + stars: | 2024-09-30 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +5 min

Brigitte Chahwan, a German-born woman, has decided to stay in Lebanon despite official advice to go. She told Business Insider she has lived in Lebanon for 30 years and considers it her home. AdvertisementThis as-told-to essay is based on interviews with Brigitte Chahwan, a German-born woman who has lived in Beirut for 30 years. AdvertisementLebanon is now my homeAlthough I was born in Germany, I've lived in Lebanon for nearly three decades. It's not an easy life, living in Lebanon, but you have to adapt it.

Persons: Brigitte Chahwan, —, I've, you've, I'm, We've Organizations: Service, Getty Locations: Beirut, Lebanon, German, Germany, It's, Israel, Iran

☆ An Asian airline hopes launching one of the world's longest narrowbody routes will actually be a comfort upgrade for passengers
▼ + stars: | 2024-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Air Astana is launching one of the world's longest narrowbody routes from Almaty to London. AdvertisementAir Astana is launching one of the world's longest narrowbody routes with the aim of increasing comfort for passengers. The Kazkhstani flag carrier announced last Wednesday that it will use an Airbus A321LR on its route from Almaty to London. Plus, Air Astana is a relatively small carrier, as it only has three widebody jets, all Boeing 767s. European budget airline Wizz Air earlier this month announced its first route utilizing the Airbus A321XLR on seven-hour flights.

Persons: —, that's, József Váradi Organizations: Air Astana, Airbus, Service, Boeing, British Airways, Wizz, Air, Kazakhstani Locations: Almaty, London, Aktau, Kazakhstan, Dallas, Fort Worth, Jeddah, Saudi Arabia

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

Patrick Lenihan, 33, JPMorgan Asset ManagementJP Morgan Asset ManagementAt JPMorgan Asset Management, Lenihan manages $21 billion in 8,000 customizable portfolios that provide generous tax advantages for the firm's clients. The dual role of fund manager and product developer combines his interest in finance with his engineering background. Lenihan led the development of a product that required buy-in from across internal tech teams, third-party partners, and operations. Lenihan also launched a mentoring program that seeks to build connectivity among different teams at the asset manager. "I have learned firsthand about how successful you can be with those close partnerships when you work together, " he said.

Persons: Patrick Lenihan, Lenihan, Ted Dimig Organizations: JPMorgan Asset, Asset Management, JPMorgan Asset Management, JPMorgan, Chrysler, University of Michigan, CFA, Wharton

☆ With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
▼ + stars: | 2024-09-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

As much as 43% to 49% of total containerized goods entering the U.S are processed through ports on the East Coast and Gulf Coast. Michael Kanko, CEO of ImportGenius, tells CNBC the economic importance of the ports impacted by an ILA strike is profound. Approximately 50,000 ILA union members work at the ports of Boston, New York/New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa, Miami, New Orleans, Mobile, and Houston. UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. East Coast ports in the U.S. are forecast to handle 2.3 million TEU (twenty-foot equivalent units) in October.

Persons: Gary Hershorn, Lading, Alan Baer, Baer, Michael Kanko, Brian Bourke, Pete Buttigieg, Julie Su, Lael Brainard, Biden, We've, Taft, Hartley, Donald Trump, Harold Daggett, let's, Estee Lauder, Steve Lamar Organizations: Port, Port Newark Container, Corbis, CNBC, International Longshoremen's Association, US Maritime Alliance, USA, ILA, U.S ., Seko Logistics, Gulf, Transportation, National Economic, UBS, Maersk, Democrats, Hartley, Business, The U.S . Chamber of Commerce, Biden, ., L'oreal, ABB, Walmart, Walgreens, Disney, Port Authority of, American Apparel & Footwear Association Locations: Port Newark, New York City, Newark , New Jersey, Coast, U.S, ImportGenius, East Coast, Gulf Coast, U.S . East Coast, Maine, Texas, Boston , New York, New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, The, Port of New York, Port Authority of NY, Virginia, Mitre . East Coast, Port of Virginia

In spite of this, many buyers are holding off since mortgage rates are expected to continue going down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are around 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop much in October.

Persons: you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ US homes are turning over at the lowest rate in 30 years
▼ + stars: | 2024-09-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

That's the lowest turnover rate the market has seen in at least three decades, the firm estimated. Elevated mortgage rates and home prices have been keeping some buyers on the sidelines. That's the lowest turnover rate for any first-eight-month period in at least 30 years, the firm said, comparing the current housing environment to the early- to mid-90s. In that era, home sales were at similar levels, though the total supply of homes was larger, which drove a higher turnover rate, the report added. Homes sales, meanwhile, could notch 4.3 million by the end of the year, a 5% boost from last year's levels, it added.

Persons: —, Elijah de la, Freddie Mac Organizations: Service, San Locations: Redfin, Los Angeles, Boston, San Francisco

☆ Disney lands an upgrade — plus, why we're considering adding to this laggard stock
▼ + stars: | 2024-09-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Don't overlook Disney : Shares of Club name Disney have quietly put together a solid September, up about 6% in the month. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Powell, we've, Jim Cramer's, Coterra, McCormick, We'll, Jim Organizations: CNBC, Federal, National Association for Business Economics, Disney, Seaport Research, Seaport, Energy, Coterra Energy, Jim Cramer's Charitable Trust, Jim Cramer's Charitable Locations: Nashville

(Harris, 59, is herself among the youngest baby boomers, born in 1964, the last year that’s considered part of the generation.) Smith and her husband have struggled to stretch their monthly Social Security income of around $4,000 as their costs have increased. The average Social Security check was around $2,000 at the start of the year and adjusts annually for inflation. About half of Social Security recipients make enough income to have their benefits taxed, according to the Social Security Administration. Polls show a tightening race between Trump and Harris among seniors, with Harris appearing to pick up support compared to Biden.

Persons: Teresa Smith, Smith, Donald Trump, Joe Biden, Kamala Harris, she’s, “, he’d, “ He’s, Harris, that’s, Mitt Romney, Barack Obama, ”, Bob Ward, Fabrizio Ward, Biden, hasn’t, ” Trump, Medicare —, Walz, Seth Schuster, Trump, Phil Martin, Martin, Pam, “ Trump’s, Denise Meyer, ” Meyer, Kamala, Gary Schlossberg, Dick Edgecombe, Edgecombe, we’re, Gary Allen, Allen, Kristen Soltis Anderson Organizations: White House, Democratic, Trump, Republicans, Biden, AARP, Social Security, Social, Social Security Administration, Medicare, Pew Research Center, NBC, FedEx, Wells, Investment Institute, Republican, “ Locations: Georgia, North Carolina, Charlotte, Wells Fargo, “, Pennsylvania, Pittsburgh, ”, Michigan

☆ Harris leads with Latino voters, but the economy narrows the margin for Dems: Survey
▼ + stars: | 2024-09-29 | by ( Steve Liesman | ) www.cnbc.com time to read: +6 min

The survey of 1,000 Latino likely voters found the Democratic presidential candidate, Vice President Kamala Harris, leading the Republican candidate, former President Donald Trump, by 54% to 40%. Harris's 14-point lead is the narrowest margin for a Democratic candidate among surveyed Latino voters in at least the past four elections, going back to 2012. All of these groups rate the economy poorly, with Latino voters overall about as downbeat on the economy as the rest of the country. While that's about equal to the rest of the population, it stands 11 points higher than in the NBC 2022 Latino survey. Here is a demographic profile of Latino voters from the NBC/CNBC/Telemundo survey:

Persons: Donald Trump, Kamala Harris, Joe Biden, Hillary Clinton, Aileen Cardona, Arroyo, Micah Roberts, Republican pollster, Harris, Trump, Harris's, Biden, That's, it's Organizations: Republican, Democratic, National Constitution Center, Republicans, NBC, CNBC, Telemundo, Trump, Hart Research, America Economic Survey Locations: Philadelphia , Pennsylvania, America

☆ A researcher who studied Trump's plans to control the Fed said it could tank the economy
▼ + stars: | 2024-09-29 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence. The study's lead researchers dug into the economic impact of three of Trump's campaign promises: mass deportations, tariffs, and eroding Fed independence. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results. AdvertisementHe doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. "If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.

Persons: Trump, —, Warwick McKibbin, McKibbin, Jerome Powell, Trump hasn't, they're, Kamala Harris, Harris Organizations: Peterson Institute, Fed, BI, Service, Federal, Peterson Institute of International Economics, Trump, PIIE, Business, Wall Street Journal, Biden Locations: China, Canada, Mexico, Australia, America

In a statement, the company said it was no longer operating, extended its condolences to relatives of the victims, and noted it has cooperated with the Coast Guard and National Transportation Safety Board investigations. Neubauer said the testimony gave important insight into the potential motivation in Rush and his company. Peter Girguis, a Harvard University professor and oceanographer who monitored the hearing, told CNN evidence of Rush’s ego-driven approach and heedlessness to repeated safety concerns appears to loom large in the disaster. Specifically, the letter alleged the language on OceanGate’s website was “confusing and misleading” and implied the Titan was “classed,” meaning certified to industry standards. The letter took issue with OceanGate’s decision not to try to get the Titan classified.

Persons: Jason Neubauer, ”, OceanGate, Stockton, Rush, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, Neubauer, …, Peter Girguis, “ Stockton, ” Girguis, ” Neubauer, Karl Stanley, Stanley, ” Stanley, “, ” Donald Kramer, Stockton Rush, He’s, Amber Bay, Phil Brooks, OceanGate’s, Brooks, couldn’t, –, William Kohnen, Kohnen, ” Kohnen, ” Rush, CNN’s Dakin Andone, Eric Levenson Organizations: CNN, Coast Guard, Titan, Marine Board, Stockton Rush, Authorities, Atlantic, Marine Board of Investigation, National Transportation Safety, Harvard University, “ Stockton Rush, US Justice Department, National Transportation Safety Board, Justice Department, Stockton, Marine Technology Society, OceanGate Locations: Everett, Washington, English, Honduras, Stockton, Amber, paychecks, OceanGate, ‘, “ Stockton, North Charleston , South Carolina

Angela Weiss | AFP | Getty ImagesAs she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order to rein in voters' grocery costs. Although Harris released more detail Wednesday as part of her 82-page economic plan, it's still unclear what price hikes her administration would see as illegal "price gouging." Generally, Republicans support fewer economic regulations, although Trump has suggested limiting food imports as a way to lower grocery prices. What is price gouging? Thirty-seven U.S. states already have laws that forbid price gouging in emergencies.

Persons: Kamala Harris, Doug Emhoff, Angela Weiss, Donald Trump, Harris, it's, Walz, Trump, YouGov, Rakeen Mabud, Mabud, Mario Tama, markups, —, Jerome Powell —, Sarah Gallo, Brian Cornell, Jharonne Martis, Brandon Bell, Kroger, Arun Sundaram, Sundaram, JBS, Joe Raedle Organizations: Democratic, AFP, Getty, Trump, Bureau of Labor Statistics, Voters, Federal Reserve Bank of Kansas, Consumer Brands Association, Federal Trade, Department of, Kroger, Procter, Gamble, Albertsons, Federal Trade Commission, CFRA Research, Pilgrim's Pride Corporation Locations: Coraopolis , Pennsylvania, Los Angeles , California, Federal Reserve Bank of Kansas City, Houston , Texas, Miami , Florida

☆ China's massive stimulus is missing a key ingredient: a way to revive the nation's consumers
▼ + stars: | 2024-09-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

But the past week's stimulus blitz did not offer fiscal support to China's discouraged consumers. AdvertisementChina's latest stimulus blitz offers everything but one key fix: new incentives to revive consumers. While Tuesday's stimulus package didn't address fiscal support, Chinese officials appear to be getting around to it. Even if China commits to bigger fiscal support in the near term, it could be too late to change things this year, Huang said. For instance, Chinese consumers are staying away from new housing projects even as China has introduced looser mortgage rates and downpayment rules.

Persons: —, Liz Young Thomas, Tianlei Huang, Huang Organizations: Service, JPMorgan, Investment, Peterson Institute for International Economics, Reuters, Communist, Barclays, Bank of America Locations: China, Beijing

☆ Indie movies are having a surprising comeback in a bleak time for Hollywood
▼ + stars: | 2024-09-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

AdvertisementDespite all the doom and gloom in Hollywood, there's optimism coming from a surprising place: indie films. "Longlegs" barely promoted its biggest star, Nicolas Cage, and is the year's biggest indie film, grossing over $100 million worldwide. AdvertisementThe case for hope for indie filmsRecently, there's been a spree of pieces predicting the death of indie films. Brands like Procter & Gamble and Neutrogena are taking a bigger role in film financing, too, providing another source of hope for indie films. Indie films can also be a bargain to rent or buy on streaming compared to big studio films.

Persons: Thelma, —, There's, Nicolas Cage, Dennis Quaid, Reagan, Matt Walsh's, Shawn Robbins, Seth, there's, Ampere, Jonathan Glickman, Neutrogena, Michael Messina, Ken Kao, They're Organizations: Service, Magnolia Pictures, Conservative, Blue Harbor Entertainment, Hollywood, Netflix, Ampere, Miramax, Waypoint Entertainment, Partners, Brands, Procter, Gamble, Toronto Film Locations: Hollywood, Seattle, Eastern Europe

☆ Elon Musk wants to put people on Mars by 2030. Don't count on it.
▼ + stars: | 2024-09-28 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Elon Musk set out SpaceX's timeline for getting humanity to Mars this week. He said SpaceX plans to send five Starship rockets to Mars in 2026, with crewed missions following two to four years later. AdvertisementElon Musk has set out his latest timeline for getting humans to Mars, and experts say it's a classic SpaceX move. The SpaceX founder said in a recent post on X that the company plans to launch around five uncrewed Starship rockets to Mars in 2026. AdvertisementSpaceX is planning to launch five uncrewed Starship rockets to Mars in the first window in 2026, according to Musk.

Persons: Elon Musk, —, Musk, Philip Metzger, Metzger, Peter Hague, Hague, Matthew Weinzierl Organizations: SpaceX, Service, NASA, Planetary Science, University of Central, Federal Aviation Administration, FAA, Harvard Business School Locations: Mexico, University of Central Florida, Mars

☆ A record number of apartments are getting built this year. That's great news for real estate affordability.
▼ + stars: | 2024-09-28 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.

Persons: —, Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin

☆ Are immigrants taking jobs from 'native' U.S. workers? Here's what economists say
▼ + stars: | 2024-09-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

Immigrants expected to boost the economyThere are several reasons why immigrants largely benefit the economy and job market, economists said. Immigrants take jobs but they also create new ones by spending in local economies and by starting businesses, economists said. One 2020 research paper from the National Bureau of Economic Research found immigrants are 80% more likely to become entrepreneurs than native workers. To the extent there's job competition from new immigrants, it tends to fall mostly on prior immigrants rather than native U.S. workers, according to the National Academies paper. "Sudden surges of immigration obviously affect the ability of native workers to find and take jobs on a given afternoon," Clemens said.

Persons: Kamala Harris, Donald Trump, Carlos Moreno, NurPhoto, Donald Trump's, Pew, Alexander Arnon, Michael Clemens, Clemens, Cohen, Giovanni Peri, it's, Peri, Arnon, Penn Wharton, Tim Chapman, George Borjas, Borjas —, —, Mariel boatlift, Borjas, Stephen Miller, Trump, Anna Kelly, David Card, Joe Sohm Organizations: Juventud, Getty, Republican, Trump, Pew Research Center, Pew, Penn Wharton Budget Model, Immigrants, National Bureau of Economic Research, Congressional, Office, Congress, George Mason University, Penn Wharton Budget, Immigration, El, Bloomberg, U.S, Global Migration, University of California, National Academies of Sciences, Engineering, National Academies, Florida Straits, Miami Herald, Harvard, Academies, Republican National Committee, America, Universal Locations: Tijuana , Mexico, Wilmington , North Carolina, U.S, El Chaparral, San Ysidro Port, Davis, Key West , Florida, Mariel, Florida, South Florida, Miami, USA, San Francisco

Search resuls for: "The Economic"

25 mentions found