DIRS.INFO The most relevant business & tech news

President-elect Donald Trump said Thursday he will nominate Todd Blanche, one of his criminal defense lawyers, to be deputy attorney general. The statement noted that Blanche has experience working for the Justice Department — something former Rep. Matt Gaetz, R-Fla., Trump's choice for attorney general, does not have. Blanche was Trump's lead lawyer when he stood trial on charges of falsifying business records related to a hush money payment this year. If Blanche's nomination is confirmed before Gaetz's, he could serve as acting attorney general while Gaetz goes through the process. He will also nominate D. John Sauer, who argued Trump's successful immunity case before the Supreme Court, for solicitor general.

Persons: Donald Trump, Todd Blanche, Todd, Trump, Blanche, Justice Department —, Matt Gaetz, Trump's, Juan Merchan, Aileen Cannon, Jack Smith's, Smith ., Tanya Chutkan, Gaetz's, Gaetz, Emil Bove, Emil, John Sauer, John, Antonin Scalia, Sauer's Organizations: Justice Department, Justice, of New York United, of New York United States Attorney’s, Trump, State, Manhattan, White House, U.S, Smith . U.S, Senate, National Security Unit, United States Supreme, Supreme, MAGA Locations: Southern, of New York United States, ., Florida, Missouri

☆ Trump’s transition team caught off guard by Hegseth allegation
▼ + stars: | 2024-11-15 | by ( Kristen Holmes | Kaitlan Collins | ) edition.cnn.com time to read: +2 min

CNN —President-elect Donald Trump’s transition team was in the middle of announcing new Cabinet picks this week when they were informed of a sexual assault allegation about one of his previous selections, Pete Hegseth, stunning several members of Trump’s team who have since raised questions about the viability of his nomination, according to two people close to the situation. Within 48 hours, the heads of Trump’s transition team were brought a complaint about a sexual assault allegation regarding Hegseth. The campaign was brought information that aligns with what Monterey, California, police described as an investigation into “an alleged sexual assault” involving Hegseth on October 8, 2017. Wiles asked Hegseth if there were any other issues the team should be aware of moving forward. One source insisted that despite the surprise, the president-elect and the transition team were moving forward with the nomination at this time.

Persons: Donald Trump’s, Pete Hegseth, Trump’s, Trump, “, Hegseth, Susie Wiles, Wiles, Hegseth wasn’t Organizations: CNN, Fox News, California Federation of Republican Women, Facebook, Trump, Department of Veterans Affairs Locations: Monterey , California, Hegseth, Monterey County

☆ Inside the secretive operation helping manage billionaire Steve Schwarzman's vast fortune
▼ + stars: | 2024-11-15 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +14 min

Schwarzman has called Blackstone his family office, but he has another family office, BI has learned. Inside Schwarzman's secretive family office with a name that harkens back to his childhood. The concept of the family office can be traced to the 1838 founding of the House of Morgan to handle J.P. Morgan's fortune. Every family office, however, is just as unique as the wealthy family that's spawned it, he said. Advertisement"The term family office," Sharpe said, "is possibly the most misused, overused, and poorly used term in finance today."

Persons: Steve Schwarzman, Schwarzman, Blackstone, —, Averell Harriman, Harriman, Brown, Harry Truman, Donald Trump, Christine Hearst Schwarzman, Gwen Stefani, Theo Wargo, Pennypack, Steve Schwarzman's, Blackstone Schwarzman, Pete Peterson, Marc Sharpe, Michael Dell, Sharpe, they're, Stephen A, John Magliano, Magliano, Paul A ., LLCs, tony Easton, Hearst, Alexi Rosenfeld, Trump's, Stephen Schwarzman, Jabin, Tim Sheehy, Montana, Sheehy, Morgan Organizations: Service, Bloomberg, Ford Motor Co, White, New York Public Library, Metropolitan, Bank of America Securities Financial Services, Blackstone, Vanguard, Family Office Association, Dell Computer, BI, Getty, Schwarzman, LinkedIn, Hearst Schwarzman, Art, Federal Communications Commission, MIT, Humanities, Oxford, New York Public, Schwarzman Education Foundation, Tsinghua University, Policy, Washington, Getty Images Locations: New York, Vietnam, Manhattan, Philadelphia, Blackstone, Schwarzman, Pennypack, Delaware, Nantucket , Massachusetts, Nantucket, Schwarzman's, Newport , Rhode Island, Miramar, Wiltshire, England, Newport ., Beijing, China, North America

☆ Passengers on parked Southwest plane forced to evacuate after cell phone, airplane seat catch fire
▼ + stars: | 2024-11-15 | by ( Alexandra Skores | ) edition.cnn.com time to read: +1 min

CNN —Travelers aboard a Southwest Airlines flight preparing to leave Denver Friday had to evacuate after a passenger’s cell phone battery caught on fire and caused an airplane seat to catch fire as well. The Boeing 737-700 was still parked at a gate with 108 passengers on board when the incident occurred at Denver International Airport, according to Southwest. Crew members were able to extinguish the seat fire, the statement said. “Southwest’s customer care team is working to accommodate the passengers on another aircraft to their original destination of Houston,” an airline spokesperson said. The incident remains under investigation.”The flight arrived three hours later to its destination at William P. Hobby Airport in Houston, according to data from FlightAware.

Persons: “, William P Organizations: CNN — Travelers, Southwest Airlines, Denver, Boeing, Denver International Airport, Passengers, Federal Aviation Administration, William, Hobby, FAA Locations: Dallas, Houston

Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ Argentina's Milei is a VIP at Mar-a-Lago as Trump, Musk embrace his attacks on government spending
▼ + stars: | 2024-11-15 | by ( Michelle Caruso-Cabrera | ) www.cnbc.com time to read: +3 min

Milei also name checked another attendee in the gala crowd: Tesla and SpaceX CEO Elon Musk. A photo Milei posted in September shows Musk sporting a "dark MAGA" hat, Trump's campaign logo written in black on black. Photos from the Thursday gala posted on social media showed Musk, Milei and Trump together, all smiles. The announcement fulfilled Trump's campaign promise to give Musk a major role advising his administration on government spending. Since taking office last December, Milei has cut Argentina's federal spending by 32%, according to the Center for Argentine Political Economy (CEPA).

Persons: Javier Milei, Donald Trump, Milei, Trump, Elon Musk, They've, Musk, they've, Vivek Ramaswamy Organizations: Trump's, SpaceX, Trump, Mar, Department of Government, White, Office of Management, Government Efficiency, Center, Argentine Political Locations: Argentina, Florida, Lago, Trump's

☆ The fight over Jerome Powell puts Elon Musk at odds with Wall Street
▼ + stars: | 2024-11-15 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +8 min

There's little appetite on Wall Street for undermining the central bank or ousting Jerome Powell. On Friday, billionaire Elon Musk endorsed a suggestion to let the president control the Federal Reserve, which is run by Chair Jerome Powell. Advertisement"He seems to be someone who has the ear of the president," Mark Spindel, an investment manager who co-wrote a history of Fed independence, told Business Insider of Musk's influence. Many Wall Streeters are concerned that undermining Fed independence would undercut investors' faith in the stock and bond markets. Trump is, Siegel said, extremely attuned to the stock market and uses it as a barometer of his success.

Persons: Elon Musk, Jerome Powell, —, Powell, Mark Spindel, Trump, Jeremy Siegel, he'd, Stocks, reappoint Powell, Scott Bessent, Peter Orszag, Obama, Lazard, Wharton's Siegel, Gallup, Siegel, Spindel, Musk's, Volodymyr Zelenskyy Organizations: Federal Reserve, Service, Wall Street Journal, Wharton School, University of Pennsylvania, Fed, Trump, Bloomberg, Federal, Treasury, Congress Locations: Powell, Europe, Japan, U.S, Trump

☆ Disney is avoiding more political dust-ups, but Netflix is bringing the fight to the media giant when it comes to live sports
▼ + stars: | 2024-11-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. In today's big story, Disney reported strong earnings and has a bright outlook on the future, but it doesn't want to discuss politics . The big storyLet's not talk politicsBob Iger, CEO of Disney Charley Gallay/Getty ImagesWhen it comes to Donald Trump, Disney is taking a page from its famous mascot and being as quiet as a mouse. But the king of streaming — Netflix — seems unstoppable , and it's threatening a space that Disney's ESPN previously had a stronghold: live sports.

Persons: —, it's, Bob Iger, Disney Charley Gallay, Donald Trump, didn't, Iger, we've, Minnie Mouse, Iger's, BI's Lucia Moses, Ron DeSantis, Trump, Hulu —, Jake Paul, Mike Tyson, Michael Ostuni, Tyler Le, Fiona Carter, Goldman Sachs, Jerome Powell, it's Elon, Steve Schwarzman's, Sam Altman, Elon Musk, Tesla, Lina Khan's, Rebecca Zisser, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Disney, Revenue, Trump, Walt Disney World, Anadolu, Getty, Disney's ABC, ESPN, Netflix, Federal Reserve, EV, Microsoft, Federal Trade Commission Locations: Asia, Hollywood, Florida, Blackstone, ChatGPT, New York, Chicago, London

☆ Jim Cramer's week ahead: Earnings from Nvidia, TJX and Walmart
▼ + stars: | 2024-11-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday highlighted the biggest events next week on Wall Street, pinpointing earnings reports from Nvidia , TJX and Walmart . Cramer praised the two retailers but said investors might want to wait for a pullback before diving in to Walmart. Retailers TJX, Target and Williams-Sonoma will report Wednesday morning. Cramer recommended investors "wait and see" with Target as Wall Street worries about the impact of potential tariff increases by the Trump administration. After the market closes, Palo Alto Networks and Nvidia report, and Cramer said both could sell off post-earnings.

Persons: CNBC's Jim Cramer, I've, Cramer, Donald Trump, Medtronic, Trump, he'd Organizations: Nvidia, TJX, Walmart, Trump, Viking Holdings, Depot, Federal Reserve, Williams, Palo Alto Networks, Intuit, Procter & Gamble, GE Healthcare Technologies Locations: Vertiv, Sonoma, Williams, China

☆ ‘Just pure uncertainty.’ Small businesses are hopeful and fearful ahead of Trump’s second term
▼ + stars: | 2024-11-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +12 min

However, the post-election environment is hitting different this time around for many small business owners, such as Barrel-Art’s Michael Prieto, and leaving them wondering what comes next. For business owners who already were unsettled about the economy or its direction prior to the election, navigating the months and years ahead could be even more precarious, he added. Running leaner, hoping for cheaper moneyIn the months leading up to the election, Prieto was taking a wait-and-see approach. Michael Prieto, owner of Barrel-Art, in his shop in Newport News, VA, on November 13. Michael M. Santiago/Getty ImagesSmall business owners, by their nature, are optimistic, he said.

Persons: Michael Prieto, Donald Trump, John Arensmeyer, they’ve, ” Arensmeyer, “, ”, Art’s Prieto, Prieto, America ”, “ It’s, he’d, We’ve, Arensmeyer, Michael M, I’ve, Clifton Broumand, Janna Rodriguez, Rodriguez, she’d, can’t, JD Opel, he’s, ” Opel, ” JD Opel, — Opel, “ I’ve, Trump, Jeff Wood’s, ” Wood, we’ve, it’s, Marc Marcuse, Marcuse Organizations: CNN, Small, Economic, Shipping, Port, Getty, Machine, Corp, Opel, Reel Management, Management’s, Republican, White Locations: America, Newport News, Newark, New Jersey, China, Maryland, Freeport , New York, Evansville , Indiana, Jeff Wood’s Coldwater, Florida , Georgia, Utah, Pennsylvania, Los Angeles, Florida

☆ Elon Musk is looking for DOGE cuts. A GOP senator's list caught his eye.
▼ + stars: | 2024-11-15 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Musk reposted on Wednesday a list of cuts from Sen. Rand Paul, a longtime critic of the federal budget. Elon Musk is on the hunt for federal spending to cut — and a Republican senator's list caught his eye. A prior report highlighted $50 million of US funding for Tunisia's tourism industry, meant to help it increase visitor numbers through 2026. AdvertisementThe 2023 report outlined a USDA study on whether Labrador fur color affects their body temperature, while the 2022 report highlighted a Cornell University study on social communication between parrots. But Musk has emphasized his desire to do identify wasteful spending in public, culminating in a leaderboard of spending deemed wasteful.

Persons: Elon Musk, Donald Trump, Rand Paul, Sen, Rand Paul of Kentucky, crosshairs, Musk, Vivek Ramaswamy, Paul Organizations: of Government, DOGE, Republican, Department, Government, Musk's America PAC, America PAC, Department of Homeland Security, Department of Transportation, Cornell University, National Institutes of Health, NIH, National Institute of Allergy Locations: Sen, Esna, Egypt, Labrador, South Carolina

☆ Severe turbulence forces Scandinavian Airlines flight to return to Europe, airline says
▼ + stars: | 2024-11-15 | by ( Paradise Afshar | Caroll Alvarado | ) edition.cnn.com time to read: +2 min

CNN —A Miami-bound Scandinavian Airlines flight was forced to return to Europe on Thursday after encountering severe turbulence over Greenland, according to the airline. No severe injuries were reported among passengers or crew on flight SK957, the airline said in a statement to CNN Friday. The plane was rerouted to Copenhagen Airport in Denmark where it will undergo an inspection, according to the airline. A woman who was seated near him did not have her seatbelt on when the turbulence started, according to Solstad. Turbulence is the leading cause of injuries to flight attendants and passengers in nonfatal accidents on commercial airlines, according to the Federal Aviation Administration, but incidents are still rare.

Persons: Sammy Solstad, ” Solstad, “, ”, Solstad, rebooking Organizations: CNN, Airlines, Copenhagen Airport, SAS, Passengers, Federal Aviation Administration, National Transportation Safety Board Locations: Miami, Europe, Greenland, Copenhagen, Denmark

☆ Markets are grappling with the impact of Trump's win and how the Fed will react
▼ + stars: | 2024-11-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

However, he went on to back up Chair Jerome Powell 's statement Thursday that the Fed doesn't need to be "in a hurry" to cut. "I do think if there's disagreement of what's the neutral rate, it does make sense at some point to start slowing." Getting to neutral, or a place that neither boosts nor restrains growth, is the Fed's ultimate goal, but Trump's victory could complicate the journey. The burst of euphoria after Trump's win actually complicates the situation by providing looser financial conditions that might make the Fed slower to ease. In any event, traders see a high likelihood that even if a December cut does happen, the Fed almost certainly will skip January as it assesses the landscape.

Persons: Donald Trump, Austan Goolsbee, Goolsbee, Jerome Powell, Susan Collins Organizations: Trump, Wall, Federal, Chicago Federal, CNBC, Wall Street Journal, Boston Fed, Traders

☆ 2 maps show how Americans rely on income like Social Security more than they used to
▼ + stars: | 2024-11-15 | by ( Allie Kelly | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Money from programs like Social Security accounted for 18% of total personal income in 2022. A growing share of income in most US counties is coming from social safety net programs like SNAP, Social Security, and Medicaid, per a report published in September by the research firm Economic Innovation Group. One in six people in 2022 were over the age of 65 — compared to one in 10 in 1970 — and just over half of the national transfer income flows from Medicare and Social Security. The report's findings come as Business Insider has spoken with many retirees — who are living solely on Social Security income because they don't have savings or retirement investments — who say they are struggling to afford basic necessities. "I don't want to be rich, I just need to be comfortable," a baby boomer living on $1,104 monthly in Social Security previously told BI.

Persons: That's, —, ALICE, EIG Organizations: Social, Service, —, SNAP, Social Security, Economic Innovation Group, Government, United Way's United, allisonkelly Locations: —, Louisiana

☆ Why Home Depot made an $18.25 billion bet on the pro business
▼ + stars: | 2024-11-15 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

In both of the past two quarters, Home Depot's revenue would have fallen year over year if SRS' sales were excluded. Melissa Repko | CNBCA jolt to the businessFor Home Depot, the expansion into the pro business comes at a challenging time. With housing turnover near its lowest in decades, the pro business has also felt pressure. Grom said Home Depot's growing pro business is what helps to attract investors and set it apart from its main competitor, Lowe's . The SRS deal and the focus on pro does not mean Home Depot is abandoning efforts to jolt the rest of its business.

Persons: Melissa Repko, Ted Decker, Decker, Dan Tinker, Joe Feldman, Chuck Grom, Gordon Haskett, Group's Feldman, it's, Grom, Tinker Organizations: Texas Pool Supply, CNBC, Depot, Home Depot, Telsey Advisory, Home, Federal Reserve, Lowe's Locations: Texas, CNBC PLANO , Texas, Dallas, Atlanta, Los Angeles, U.S

☆ Wall Street looks for Nvidia to take the baton from election trades to keep rally alive in the week ahead
▼ + stars: | 2024-11-15 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

What exactly President-elect Donald Trump's second term means for the stock market will be the question investors continue to grapple with in the week ahead. Nvidia earnings results will also be on deck as investors deal with stubbornly high interest rates as well. The Dow Jones Industrial Average surged past 44,000 for the first time ever, and the S & P 500 and the Nasdaq Composite similarly posted new records. Sales of Blackwell and Grace Blackwell are expected to start to show up in results next year. The SPDR S & P Regional Banking ETF has surged 11% this month.

Persons: Donald Trump's, Jimmy Chang, Jensen Huang, CNBC's, Blackwell, Grace Blackwell, Harsh Kumar, Piper Sandler, Kumar, Jensen, Donald Trump, Robert F, Kennedy Jr, Novavax, Ken Mahoney, Trump, There's, Mahoney, Rockefeller's Chang, Chris Rupkey, Jerome Powell Organizations: Dow Jones, Nasdaq, Rockefeller Global Family, Treasury, Nvidia, Blackwell, Health, Human Services Department, Moderna, Asset Management, Regional Banking ETF, Federal, White, FWDBONDS, Housing, Walmart, Lowe's, Palo Alto Networks, Philadelphia Fed, . Kansas City Fed Manufacturing, Ross Stores, Intuit, Deere, PMI, PMI Manufacturing, PMI Services Locations: China, U.S, NAHB, . Kansas, Michigan

☆ American Airlines flight out of Hawaii told to make ‘expedited climb’ to avoid mountains
▼ + stars: | 2024-11-15 | by ( Pete Muntean | ) edition.cnn.com time to read: +1 min

CNN —The Federal Aviation Administration says an air traffic controller’s instructions kept an American Airlines flight from hitting mountains near Honolulu International Airport in Hawaii. The agency is investigating the incident on American flight 298 just after takeoff, bound for Los Angeles early Wednesday morning. “An air traffic controller instructed American Airlines Flight 298 to perform an expedited climb after the crew did not make the assigned turn while departing from Honolulu International Airport,” the FAA says. “The controller’s actions ensured the aircraft remained safely above nearby terrain.”Audio from LiveATC.net captures the Honolulu air traffic controller telling American 298 to “expedite your climb … through terrain” and to turn right. Flight tracking data shows by the time the flight reached the terrain, the flight was at least 1,500 feet above mountain peaks.

Persons: “ Organizations: CNN, Federal Aviation Administration, American Airlines, Honolulu International, Los Angeles, Exchange, Honolulu International Airport, FAA, LiveATC.net Locations: Honolulu, Hawaii, Los, Honolulu’s

☆ Mortgage rates may be stabilizing after the election. Here's what to expect into early 2025
▼ + stars: | 2024-11-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Don't expect 'huge swings' on mortgage ratesElection uncertainty contributed to an upward swing in mortgage rates during October. But now that we have a president-elect, mortgage rates are expected to gradually come down over time, Lautz said. Experts say that mortgage rates might head into a "bumpy" or "volatile" path over the next year. "Our expectation is that rates are going to be in the 6% range as we move into 2025," she said. For example, if you bought your home around this time last year, when mortgage rates peaked at around 8%, you might benefit from a mortgage refinance, Lautz said.

Persons: Freddie Mac, it's, Jessica Lautz, Lautz, Jerome Powell, Robert Dietz, Jessica Lautz Jessica Lautz, Jeff Ostrowski, Jacob Channel Organizations: Getty, Federal Reserve, National Association of Realtors, Treasury, Trump, Federal, CNBC Locations: U.S

☆ This trade secrets lawsuit has the alternative data industry buzzing
▼ + stars: | 2024-11-15 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

The former employees took "secret information at the heart of Yipit's business" to use in their roles at MScience, Yipit says in its lawsuit. The lawsuit does not name MScience, only Alex Pinsky, Zachary Emmett, and 10 John Does, who "conspired" with the two named defendants. Carlyle-backed data giant Yipit's lawsuit against two former employees — and 10 unnamed "individuals or entities who have conspired" with them — is the talk of the alternative data industry. AdvertisementEmmett tried to conceal the transfers of Yipit's client data when he left the company, according to the lawsuit. Advertisement"Yipit is making sure these guys don't work in alt data ever again," a data executive at a hedge fund said.

Persons: Yipit, Alex Pinsky, Zachary Emmett, John, Carlyle, Sam Bankman, Emmett, Pinsky, MScience, Yipit's Organizations: Jefferies, MScience, Facebook, Apple Locations: Manhattan, Yipit

☆ Trump plan to 'end all taxes' on overtime pay would benefit millions of Americans, but it's going to be uphill battle
▼ + stars: | 2024-11-15 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +6 min

Details on the proposal are scant and some Democrats have called the overtime tax promise "as fake as his tan." "As part of our additional tax cuts, we will end all taxes on overtime," he said at a rally in Tucson, Arizona. Among these, 82.1 million were hourly workers and 15.6 million were salaried workers, the report said. Meanwhile, about 7% of hourly workers and 70% of salaried workers do not qualify for FLSA, the report said. For example, would it be designed as just an income tax or would it be a payroll tax exemption as well?

Persons: Donald Trump, Trump, Karoline Leavitt, Vance, There's, Russ Fulcher, Joseph Rosenberg, FLSA, John Ricco, Alex Muresianu, Muresianu, Rosenberg Organizations: Cobb Energy Performing Arts Centre, Republican, President, Trump, Fair Labor, Brookings Tax, Department of Labor, FLSA, Yale, Lab, Tax Foundation, Social Security Locations: Atlanta , Georgia, U.S, Tucson , Arizona, Idaho, Alabama, Wisconsin, DOL

☆ Trump's plan to build more homes on federal land could push prices higher, UBS says
▼ + stars: | 2024-11-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

Trump's plan to transform federal land into housing will be costly, given minimal existing infrastructure, UBS says. Those policies, plus a set of potentially inflationary proposals, could drive up both home prices and mortgage rates, they say. Trump's plan to transform federal land into more housing seems particularly challenged, the analysts say. The higher rates will likely continue the housing lock-in effect, where existing homeowners prefer to remain locked in at their current lower rates. In prepared remarks on Thursday, Fed Chair Jerome Powell said the US is in no hurry to cut rates, signaling that mortgage rates could stay higher for longer.

Persons: —, Donald Trump's, homeownership, Trump, JD Vance, Vance, homebuyers, Jerome Powell Organizations: UBS, Service, Builders

☆ Why Elon Musk's push to cut federal waste might succeed where others failed
▼ + stars: | 2024-11-15 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Elon Musk and Vivek Ramaswamy are promising to tame the federal government. Substantial changes to the federal budget would most likely require action from legislators, though Trump transition officials are reportedly looking for ways to short-circuit Congress' power over spending. AdvertisementPast presidents have tried to cut the federal budget with mixed successThe federal government isn't a business. AdvertisementClinton took another stab at cutting federal spending and improving government processes with his National Performance Review, which was led and staffed by federal employees instead of the private sector. AdvertisementSocial Security and Medicare are the two single biggest areas of federal spending, and changing them could be politically unpopular.

Persons: Elon Musk, Vivek Ramaswamy, they've, Trump, Reagan, Clinton, Ronald Reagan, Bill Clinton, David Walker, J, Peter Grace, Grace, didn't, Musk, Ramaswamy, Thomas Schatz, hasn't, Lex Fridman's, Veronique de Rugy, —, de Rugy Organizations: Government, Department of Government, Trump, Congress, Government Waste, Grace, Office, Citizens, Securities and Exchange Commission, Federal Aviation Administration, SpaceX, Social, Cato Institute, Social Security, GOP

☆ BlackRock's Gargi Chaudhuri shares how to invest as ETF inflows soar to records ahead of a promising 2025
▼ + stars: | 2024-11-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

AdvertisementHowever, BlackRock's Gargi Chaudhuri doesn't think President-elect Trump deserves all the credit for this astounding market rally. "Obviously, there have been some pretty sharp movements over the course of the last week," Chaudhuri told Business Insider. Corporate earnings growth is arguably the most compelling reason to stick with US stocks following what's been another outstanding performance this year. "One of the things that the equity market has done over and over again is continue to surprise us in terms of earnings growth," Chaudhuri said. AdvertisementWhere to invest in a rosy 2025Two sectors with abnormally strong earnings prospects are financials and industrials, Chaudhuri said.

Persons: BlackRock's Gargi Chaudhuri, —, Donald Trump's, there's, BlackRock's Gargi Chaudhuri doesn't, Trump, Chaudhuri, They've, they're, " Chaudhuri Organizations: Service, BlackRock, Federal Reserve Locations: Americas

☆ US returns looted antiquities worth $10 million to India
▼ + stars: | 2024-11-15 | by ( Karina Tsui | ) edition.cnn.com time to read: +2 min

CNN —The United States has returned more than 1,400 looted artifacts worth $10 million to India as part of an ongoing initiative to repatriate stolen art from countries across South and Southeast Asia, the Manhattan District Attorney’s office announced Wednesday. The trafficked goods recovered include items that, until recently, were on view at New York’s Metropolitan Museum of Art. The DA’s office obtained an arrest warrant for him in 2012though he remains in custody in India, pending his extradition to the US. Since its creation over a decade ago, the Manhattan District Attorney’s Antiquities Trafficking Unit –– a task force of lawyers, investigators and art experts –– has recovered 5,800 antiquities valued at almost $460 million. In July, the US and India signed an agreement to protect cultural property by preventing illegal trades and streamlining the process of returning stolen antiquities back to India.

Persons: Nancy Wiener, Subhash Kapoor, Alamy Kapoor, ” William Walker, – – Organizations: CNN, Manhattan District, New York’s Metropolitan Museum of Art, Manhattan, Attorney’s, Metropolitan Museum of Art, federal Homeland Security Locations: United States, India, South, Southeast Asia, New, London, American, New York, Rajasthan, Tamil, Germany, 2012though, York

☆ This 401(k) alternative has helped US workers save more than $1.7 billion so far
▼ + stars: | 2024-11-15 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

That is just one reason why policy experts see a retirement savings crisis on tap for so many Americans over the next several decades. This results in an increase in retirement income of $150 per month,” Gusto’s researchers wrote. Initial data also suggests that the introduction of auto IRAs might correlate with more employers offering their own plans. It’s not entirely clear why, since smaller businesses often cite cost and administrative burden as reasons why they don’t sponsor a retirement plan. And employer plans offer workers tax breaks and direct matching contributions, which can help them grow their nest eggs faster than they otherwise might.

Persons: John Scott, Roth, Scott, IRAs, ”, Pew, It’s Organizations: CNN, AARP —, AARP, Georgetown Center, Retirement, Pew, Savings, Employers, Project . Workers, Georgetown CRI, Auto Locations: California, Colorado , Connecticut, Delaware, Hawaii , Illinois, Maine , Maryland, Minnesota , Nevada , New Jersey , New York , Oregon, Rhode Island , Vermont, Virginia, Washington

Search resuls for: "The Federal"

25 mentions found