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☆ Goldman Sachs loves these 4 top European stocks — giving one 110% upside
▼ + stars: | 2024-09-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Four U.K.-listed stocks — one of which was given 110% upside — are among Goldman Sachs' European conviction list. While the S & P 500 fell by 5.85% in the first week of August, the FTSE 100, an index of the 100 largest London-listed stocks, outperformed by falling by only 2.4%. .FTSE .SPX 5Y line The investment bank said the FTSE 100 "can also provide good diversification from the concentrated and Tech-heavy S & P 500 ." The bank notes that SSE's "leading capabilities vs. peers position it well to capture this investment growth." The investment bank said the company "is at the start of a revenue acceleration" supported by increasing market share and expansion into new markets.

Persons: Goldman Sachs, Goldman, Sharon Bell, Tufan Erginbilgic, LSEG Goldman, LSEG Organizations: FTSE, SPX, Tech, BT Group, Royce, London Stock Exchange, BT, London Stock Exchange Group, Bloomberg, Microsoft Locations: British, London, United States

☆ Pep Guardiola ‘happy’ that Manchester City hearing will begin soon
▼ + stars: | 2024-09-13 | by ( Jamie Barton | ) edition.cnn.com time to read: +3 min

CNN —Manchester City manager Pep Guardiola said he is “happy” that a hearing into the club’s more than 100 alleged breaches of the Premier League’s financial rules will begin soon. In May 2023, Guardiola said: “What I would like is that the Premier League or the judges could make [a decision] as soon as possible. City has won the Premier League eight times and the Champions League once since it was acquired by The Abu Dhabi United Group in 2008. Neither City nor the Premier League would comment on the hearing when contacted by CNN. The hearing over the over 100 alleged charges is not the only dispute between City and the Premier League.

Persons: Pep Guardiola, “, ” Guardiola, ”, Guardiola, Michael Regan, Khaldoon Al Mubarak, Richard Masters Organizations: CNN, Manchester City, Premier, Premier League, Citizens, Brentford, Champions League, Abu Dhabi United Group, Getty Images, Sport, City, UEFA, The Times Locations: City

☆ Putin is threatening disaster over Ukraine's long-range missiles — but his past 'red lines' came to nothing
▼ + stars: | 2024-09-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

"This will mean that NATO countries — the United States and European countries — are at war with Russia," Putin said. But Ukraine's Western allies have provided billions in military aid to Ukraine, sending the aid incrementally in the form of increasingly effective weapons. AdvertisementYet Ukraine continued to drive back Russian forces that year until a stalemate developed, and has targetted occupied territory, including the Crimea peninsula, with long-range Western weapons. They succeded in rattling the West, it says, leading it to supply Ukraine weapons in a piecemeal way and much later than Ukraine seeks them. Analysts writing for the US think tank Responsible Statecraft last June said that the West would never know if it had crossed a real Russian red line until it's too late.

Persons: —, Vladimir Putin, Putin, Keir Starmer, Joe Biden, Putin's, Ukraine's, Volodymyr Zelenskyy, TATYANA MAKEYEVA, Sergey Lavrov, Biden, Donald Tusk Organizations: Service, Business, NATO, British Storm Shadow, Institute for, Western, Getty, Russian, The New York Times Locations: Ukraine, Russia, United States, Washington, DC, US, Ukrainian, Moscow, Crimea, Russia's Kursk, Kursk, AFP, Iran

☆ UK leads resurgence in European office investment
▼ + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. is leading a recovery in Europe's long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year. Overall, European office investment transactions in the first half of the year fell 21% year-on-year to 14.1 billion euros, Savills data showed — a 60% decrease on the five-year H1 average. Europe's divided recoveryThe U.K. real estate market was the first in Europe to undergo a significant contraction following its peak in 2022. "London is leading the way a bit, partly because it repriced earlier and quicker and more significantly," Kim Politzer, head of research for European real estate at Fidelity International, told CNBC over the phone. Kim Politzer head of research for European real estate at Fidelity International

Persons: Mike Barnes, Savills, Kim Politzer, Marcus Meijer, Mark, CNBC's, James Burke, Tom Leahy, Leahy, Europe's, JLL Organizations: Getty, Britain, CNBC, Bank of, Fidelity International, European Central Bank, Nurphoto, U.S Locations: London, Europe, Paris, Stockholm, Berlin, Hamburg, La Défense, France, Ireland, Netherlands, Spain, Italy, Portugal, Southern Europe, Germany

☆ Fate of US Steel merger expected to be pushed beyond election day as politics cloud outlook
▼ + stars: | 2024-09-13 | by ( Kayla Tausche | Matt Egan | ) edition.cnn.com time to read: +4 min

CNN —As presidential politics cloud the outlook of US Steel’s merger with its Japanese rival, a national security review of the deal is now not expected to be decided until after the election, according to people familiar with the matter. Prime Minister Fumio Kishida, during a White House visit in April, told reporters that the legal reviews would determine the deal’s outcome. US Steel put itself up for sale in 2023 after receiving an unsolicited, $7 billion takeover offer from Ohio-based Cleveland Cliffs. The $14.9 billion deal with Nippon Steel, Japan’s largest steelmaker, resulted from that sales process. The White House has said it would await the recommendation of the committee, which has yet to make a decision on the matter, CNN has learned.

Persons: Joe Biden, Biden, Fumio Kishida, Janet Yellen, Kamala Harris, Donald Trump, Ohio Sen, JD Vance, Sen, Sherrod Brown of, John Fetterman of, Saloni Sharma, ” Saloni, Josh Shapiro, Harris, “, ” Manuel Bonder Organizations: CNN, Foreign Investment, US, Washington Post, US Steel, Steel, Nippon, Sherrod Brown of Ohio, Nippon Steel, White, ”, Democrat Locations: United States, Pittsburgh, Delaware, American, John Fetterman of Pennsylvania, Ohio, Cleveland, ” Pennsylvania, Western Pennsylvania

☆ Lil Wayne says it 'hurt' that Kendrick Lamar was picked to perform at the Super Bowl. Here's what to know about the controversy.
▼ + stars: | 2024-09-13 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +9 min

Read previewEarlier this week, Kendrick Lamar was confirmed as the headliner for the next Super Bowl halftime show. AdvertisementMany hip-hop fans had hoped that Lousiana native Lil Wayne would be the chosen headliner — a hope that Lil Wayne said he shared. Here's a breakdown of the controversy's key points and everything you need to know about the Lamar vs. Wayne debate. Lil Wayne, Nicki Minaj, and Drake at the 2017 Billboard Music Awards. LIL WAYNE!!!!!!!!!!

Persons: —, Kendrick Lamar, Lamar, Drake, Lil Wayne, I'm, Wayne, Lamar hasn't, Critics, Wayne hasn't, Jay, Uzi, Lil Yachty, Ty Dolla, Nicki Minaj, Minaj, Kevin Mazur, Dre, Cam'ron, Wayne —, Nicki, LIL WAYNE, Nola what's, Johnny Nunez, Mike Freeman, Roc, Z, Z's, Joe, Fabolous, Roger Goodells Organizations: Service, Business, Lamar, Future, Metro Boomin, NFL, ign, Young Money Entertainment, Money Records, ppl, SoFi, West, Entertainment, Birdman, Cash, Wayne, BIRDMAN, The Recording, USA, Young, NPR, Jay Locations: New Orleans, Lamar, Los Angeles, Compton , California, City of New Orleans, Atlanta, Las Vegas

☆ Billionaire investor John Paulson says the Fed can 'move aggressively' on rate cuts
▼ + stars: | 2024-09-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Billionaire investor and hedge fund veteran John Paulson said Friday that he would like to see the Federal Reserve start big with its rate cuts. The central bankers seem to be deciding between a cut of 25 basis points or 50 basis points. One asset class that often rises when the Federal Reserve cuts rate is gold, and Paulson is a longtime bull on the yellow metal. Paulson is a veteran figure in the hedge fund world and is perhaps most famous for betting against the housing market ahead of the 2007 crash. Paulson announced in 2020 that he was converting his hedge fund into a family office.

Persons: John Paulson, Paulson, Donald Trump, Kamala Harris, Treasurys Organizations: Federal Reserve, Paulson, Co, Mines, U.S

☆ Biden administration expected to unveil new evidence of RT’s key role in Russian intelligence operations globally
▼ + stars: | 2024-09-13 | by ( Kylie Atwood | Sean Lyngaas | ) edition.cnn.com time to read: +3 min

CNN —The Biden administration is expected on Friday to announce a major effort to blunt the global influence of RT and expose what it says is the Russian state media network’s key role in the Kremlin’s global intelligence and influence operations, according to a senior administration official and three other sources familiar with the matter. A key finding from the new US intelligence is that, for more than a year, the Russian government has quietly embedded an intelligence-gathering unit within RT that is focused on influence operations globally, one of the sources familiar said. That activity has been part of US officials described as a big expansion of RT’s role as an arm and mouthpiece of the Kremlin abroad. The activity goes beyond propaganda and covert influence operations to even include military procurement, the source said. The US believes RT propaganda and disinformation has been key to generating pro-Russia reactions to the Ukraine war globally, the senior administration official said.

Persons: CNN —, Biden, “, –, RT, Trump, Joe Biden Organizations: CNN, State Department, Kremlin, of Justice, UN, Assembly, US Department of Justice, US, European Union, Saharan Africa RT, Huawei Locations: Russian, Russia, America, Ukraine

☆ Biden signals openness to using Western long-range missiles inside Russia as he meets Britain’s leader to discuss
▼ + stars: | 2024-09-13 | by ( Kevin Liptak | ) edition.cnn.com time to read: +9 min

The president has long resisted calls from Ukrainian officials to ease restrictions on the weapons. “We’re working that out right now,” Biden said when questioned this week whether he would permit Western-provided long-range missiles to target military sites like airfields, missile launchers, fuel tanks and ammunition depots inside Russia. Still, that the conversation over long-range weapons is happening at all is an indication of how stalled battlefield dynamics are causing western leaders to rethink their approach. The revelation that Iran has been providing Russia with ballistic missiles has changed the debate over Ukraine’s capabilities, Lammy said. Earlier in the week, the bipartisan congressional Ukraine caucus called on Biden to allow Ukraine to strike targets inside Russia with the long-range weapons.

Persons: Joe Biden, Biden, ” Biden, Friday’s Biden, Starmer, Vladimir Putin, Putin, Volodymyr Zelensky, Antony Blinken, “, it’s, we’ll, ” Blinken, Andrii Sybiha, David Lammy, Lammy, Defense Lloyd Austin, ” Austin, Ukraine’s, Sen, Ben Cardin, Jeanne Shaheen of, ” Shaheen, ” Organizations: Washington CNN, British, White, US, Army Tactical Missile Systems, Ukrainian, National Security, Labour Party’s, NATO, Defense, Ukraine Defense Contact Group, Defense Department, Ukraine “, Senior, Senate Foreign Relations, Biden, Republican Locations: Ukraine, Russia, Ukrainian, United Kingdom, Kyiv, France, Iran, Western, Kursk, Washington, Russian, United States, British, Germany, Crimea, Ben Cardin of Maryland, Jeanne Shaheen of New Hampshire

☆ Boar’s Head to close Virginia plant linked to deadly listeria outbreak
▼ + stars: | 2024-09-13 | by ( Jamie Gumbrecht | ) edition.cnn.com time to read: +3 min

CNN —Boar’s Head will close the Virginia plant that produced deli meat products tied to a deadly listeria outbreak, the company said on Friday. The move is part of several changes made after what it called a “dark moment in our company’s history.” Boar’s Head said it will permanently discontinue sales of liverwurst after an investigation found its production process was the root cause of the listeria contamination. It will also appoint a new food safety officer and food safety council made up of independent industry experts. But a USDA Notice of Suspension for the Virginia facility, shared by Boar’s Head, describes “inadequate controls” that allowed equipment and employees to move throughout the facility, potentially spreading bacteria. The agency called it the largest listeria outbreak since one linked to cantaloupe in 2011.

Persons: CNN — Boar’s, ” Boar’s, Boar’s, Dr, Sanjay Gupta, “, what’s Organizations: CNN, Department of Agriculture’s, CNN Health, Centers for Disease Control, listeria, CDC Locations: Virginia, Jarratt , Virginia, Jarratt

☆ How the New Hampshire National Guard failed to protect women
▼ + stars: | 2024-09-13 | by ( Haley Britzky | ) edition.cnn.com time to read: +19 min

His attorney told CNN Patterson is expected to retire as a major, one rank below lieutenant colonel, by November 1. His case is perhaps the most high-profile example of a problem women say has plagued the New Hampshire National Guard for years: A toxic, sexist work environment. The New Hampshire National Guard told CNN in a statement that 2023 was an anomalous year for sexual assault reports. “There’s way too much of ‘foxes guarding the henhouse’ in every angle of the [National Guard Bureau],” the IRC member said. “The National Guard belongs to the governors, and so they can do what they want.”The office of New Hampshire Gov.

Persons: Mark Patterson, Patterson, ”, he’d, CNN Patterson, “, Kennith Kruger, Patterson “, ’, Katrina Dupuis, Dupuis, weren’t, ’ ” Dupuis, ” Dupuis, she’d, “ aren’t, David Mikolaities, didn’t, Emily Paige Kamal, ” Kamal, Kate Kuzminski, ” Kuzminski, Maj, Charles Johnston, Chris Sununu, Sununu, Jaleesa Ackerman, Ackerman, ’ ”, Keri Wareing, Wareing, ” Wareing, Jeanne Shaheen, they’ve, Shaheen, OCI, Shaheen “, They’re Organizations: CNN, New Hampshire National Guard, Army, National Guard, Guard, New Hampshire National, New Hampshire National Guard’s Army, Department of, New, New Hampshire Department of Military Affairs, Veterans Services, The New Hampshire National Guard, ‘, Pentagon, Military, Veterans, Center, New American Security, Pembroke , New Hampshire . Tech, Defense, Independent Review Commission, National Guard Bureau, New Hampshire Gov, Services, Manchester Police Department, Mikolaities, Criminal, Organization, Independent, Capitol, Senate Armed Services Committee, Senate National Guard Caucus Locations: New Hampshire, Wyoming, NH, The, New American, Pembroke , New Hampshire, New

☆ My first C-section made me feel like I wasn't made to be a mother. My fourth one reminded me that C-sections can be beautiful.
▼ + stars: | 2024-09-13 | by ( Jenna Jonaitis | ) www.businessinsider.com time to read: +6 min

Once the obstetrician assessed the situation, I knew what she'd say before she said it: "We need to go to a C-section." I was certain I'd have a vaginal birth with no epidural. What I didn't expect was for my fourth C-section to be my best birth experience. Leading up to my fourth C-section, she and I dedicated a couple of sessions to processing the trauma from my earlier births so they'd have less of a hold on me going into the OR again. Whether it's through adoption, C-section, or vaginal birth, a child joining your life is every bit of magic and terror.

Persons: —, I'd, I've, bewilderment Organizations: Service, Business Locations: United States

☆ A big Fed meeting looms in the week ahead as economic concerns percolate
▼ + stars: | 2024-09-13 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Federal Reserve is set to meet Tuesday and Wednesday — and is is widely anticipated to make its first interest rate cut after embarking on a hiking campaign in March 2022. As it is, stocks are headed for a winning week ahead of the meeting. On Friday, the CME FedWatch tool showed markets were split how big the rate cut would be. Investors will also watch what Fed policymakers will signal in its summary of economy projections regarding future policy moves. He worries that stocks will rally heading into the central bank meeting, with investors possibly selling the news afterward.

Persons: It's, disinflation, Chadha, CNBC's, Dave Sekera, Giuseppe Sette, Sette, BTIG's Jonathan Krinsky, Morningstar's Sekera, Bank Asset Management Group's Bill Northey, Mills, homebuilder Organizations: Federal, Deutsche Bank, Dow Jones, Nasdaq, Morningstar, U.S, Bank Asset Management Group's, Olive, Darden, FedEx, Index, Retail, Manufacturing, Housing, Philadelphia Fed Locations: U.S, Olive Garden, NAHB

☆ Tech roars back, and Eli Lilly sends a welcome signal on its growth prospects
▼ + stars: | 2024-09-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Jim Cramer said earlier Friday that Nvidia received a do-over from Wall Street . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, Nvidia, Financials, Love, Lilly, Eli Lilly, Lilly's, haven't, that's, Jim Cramer's, Jim Organizations: CNBC, Tech, Nvidia, Broadcom, Wall, Federal, Energy, Citi, and Drug Administration, Fed, Market, Jim Cramer's Charitable Locations: Ireland, Kisunla, U.S, Europe

☆ Boeing strike 2024: IAM union members set to strike early Friday after vote against proposed deal
▼ + stars: | 2024-09-13 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

New York CNN —Union members at Boeing overwhelmingly rejected a proposed a four-year contract with the troubled aircraft manufacturer, authorizing the first strike at the company in 16 years, said the International Association of Machinist (IAM) union. It also increased job security for union members, because Boeing promised to build its next commercial jet, which has yet to be announced, at a unionized plant. But 95% of members of the IAM union voted against the deal. In a separate vote 96% voted to authorize a strike, easily clearing the two-thirds threshold needed to approve a walkout. Boeing has nearly 150,000 US employees, including the 33,000 IAM union members.

Persons: ”, Jon Holden, Kelly Ortberg, “, Max, Holden, we’ve Organizations: New, New York CNN — Union, Boeing, International Association of, IAM, Alaska Airlines, Federal Aviation Administration, US Justice Department Locations: New York, Alaska

☆ Justin Timberlake expected to plead guilty to driving while impaired
▼ + stars: | 2024-09-13 | by ( Brynn Gingras | ) edition.cnn.com time to read: +1 min

CNN —Justin Timberlake is expected to plead guilty to one count of driving while impaired in a deal with Suffolk County, New York prosecutors, who agreed to drop a driving while intoxicated charge against the singer, according to a source familiar with the case. The plea will include a to-be-determined fine, though the judge in the case could impose other penalties and still needs to approve the agreement at a hearing scheduled Friday morning, where Timberlake is anticipated to be in attendance. Before the agreement, Timberlake had pleaded not guilty to the DWI charge, a misdemeanor, back in August. Had he been convicted, he could have faced a maximum of one year in prison and a $2500 fine. Justin Timberlake was arrested in Sag Harbor, New York in June.

Persons: Justin Timberlake, Timberlake, I’m Organizations: CNN, Department of Motor Vehicles, Sag Harbor Police, BMW, Police Locations: Suffolk County , New York, New York, “, Sag Harbor , New York, Sag, Sag Harbor, New Jersey

☆ Stock market today: S&P 500 goes for 5-day win streak as markets look ahead to next week's Fed meeting
▼ + stars: | 2024-09-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Friday as S&P 500 and Nasdaq 100 aimed for a five-day win streak. Investors are focused on the Federal Reserve's upcoming interest rate cut announcement next week. The Fed is expected to cut rates for the first time since 2019, with about even odds for a 25- or 50-basis point cut. Based on probabilities from the CME's FedWatch Tool, there's a 49%/51% split on whether the Fed will deliver a 50-basis point or 25-basis point interest rate cut, respectively. AdvertisementNext week's expected interest rate cut from the Fed will represent the first time the central bank has lowered rates since 2019.

Persons: —, Jerome Powell, it's, Aditya Bhave Organizations: Nasdaq, Federal, Service, Federal Reserve, Bank of America Locations: Here's

☆ ChatGPT maker says its new AI model can reason and think ‘much like a person’
▼ + stars: | 2024-09-13 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —OpenAI has unveiled a new artificial intelligence model that it says can “reason” and solve harder problems in science, coding and math than its predecessors. The model, the first in a series called OpenAI o1, was released Thursday as a preview, with the firm saying it expects regular updates and improvements. “We trained these models to spend more time thinking through problems before they respond, much like a person would,” the maker of ChatGPT said on its website. The new OpenAI model doesn’t yet have many of the features “that make ChatGPT useful,” the firm said, like browsing the web for information, and uploading files and images. In tests, OpenAI o1 performs similarly to PhD students on difficult benchmark tasks in physics, chemistry and biology, according to the company.

Persons: London CNN — OpenAI, “, ChatGPT, OpenAI, Noam Brown, ”, Sam Altman, Ruth Porat, Dario Amodei Organizations: London CNN, White House, OpenAI, Google, CNN, OpenAI o1, International

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are around 5.70% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates finally dipped below 5% this week, according to Zillow data. Average Refinance Mortgage Rates TodayRefinance rates have also been lower in September. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

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

☆ Georgia Lt. Gov. Burt Jones won’t be charged in Trump election subversion case, prosecutor says
▼ + stars: | 2024-09-13 | by ( Jason Morris | ) edition.cnn.com time to read: +2 min

Burt Jones’ role as a fake elector after the 2020 election announced he will not move forward with criminal charges against the former state senator. “The evidence also indicates Senator Jones did not act with criminal intent, which is an essential element of committing any crime.”A Georgia judge blocked Willis from investigating Jones in July 2022. Jones was then a Republican state senator, and Willis was reprimanded by the judge for hosting a fundraiser for the Democratic candidate who was running against Jones to be Georgia’s next lieutenant governor. In his four-page written statement on Friday, Skandalakis said that Jones “fully cooperated” with the lengthy investigation over the course of four interviews. Gov Burt Jones told CNN in a written statement.

Persons: Burt Jones, Jones, Fani Willis, Donald Trump, “, Pete Skandalakis, ” Skandalakis, ”, Willis, Skandalakis, Brian Kemp, Jones “, Gov Burt Jones, ” Willis ’ Organizations: Atlanta CNN, Gov, Republican, Trump, Electoral College, Democratic, CNN Locations: Georgia, Georgia’s, Fulton County

☆ Harris' rise in polls sparks wave of wealth transfers to kids
▼ + stars: | 2024-09-13 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

If it expires, the estate and gift tax exemption will fall by about half. The tightening presidential race has touched off a wave of tax planning by ultra-wealthy investors, especially given fears of a higher estate tax, according to advisors and tax attorneys. With Harris and Trump essentially tied in the polls, the odds have increased that the estate tax benefits will expire — either through gridlock or tax hikes. The biggest question facing wealthy families is how much to give, and when, in advance of any estate tax change. If they do nothing, and the estate exemption drops, they risk owing taxes on estates over $14 million if they die.

Persons: Robert Frank, Donald Trump, Kamala Harris, Harris, Trump, Pam Lucina, Lucina, Mark Parthemer, it's, Parthemer Organizations: Democratic, Republican, Northern Trust Locations: Florida, Glenmede

☆ As Hollywood gets back to work, new rules bring new pain points
▼ + stars: | 2024-09-13 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

The WGA won higher pay and residuals for its writers, provisions for minimum staff in television writers' rooms, and more, calling the agreement "exceptional." Advertisement"The conglomerates have the leverage," one TV agent put it. This model could lead to a show getting picked up, but it tended to use fewer writers than regular writers' rooms and pay them less. A third agent said some showrunners are grumbling that while mini-room writers' pay increased post-strike, studios kept the showrunners' pay the same. Marshall, an "Elsbeth" writer and WGA West board member, has been in three writers' rooms since the WGA contract took effect.

Persons: —, ProdPro, There's, I've, Zoe Marshall, Marshall, We're, Christian Simonds, Reed Smith, Simonds, Rolling Stone, Jonathan Handel, Puck, Handel Organizations: Service, SAG, WGA, Business, Netflix, Warners, Paramount, Otis College of Art, Hollywood, WGA West, Google, Rolling, Entertainment

☆ 6 Wall Street experts share why investors could be overestimating how much the Fed will cut rates after August's inflation report
▼ + stars: | 2024-09-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The print is causing concern that inflation may not be going away, which would mean higher interest rates than markets expect going forward. Skyler Weinand, chief investment officer, Regan CapitalWeinand says the market's current outlook on rate cuts will only take place if the economy deteriorates significantly. If inflation does slow that much, the Fed would likely cut rates faster than just a quarter percent per meeting over the next 3-6 months," Adams said in an email. "However, the stickiness of service price inflation and shelter inflation suggests the Fed will cut rates slower than financial markets currently price in." This would be a disappointment to short-term bond markets that have priced over 250 bps of rate cuts by the end of 2025."

Persons: Brian Rose, UBS Global Wealth Management Rose, Rose, Skyler Weinand, Regan Capital Weinand, Bill Adams, Adams, Peter Perkins, MRB Partners Perkins, Josh Jamner, ClearBridge Investments Jamner, Chris Zaccarelli, Zaccarelli Organizations: Service, CPI, Business, UBS Global Wealth Management, UBS Global Wealth, Fed, Comerica Bank, MRB Partners, Investment, ClearBridge Investments, Independent, bps

☆ Pets, sports, and Disney might end up rescuing China's ailing consumer economy
▼ + stars: | 2024-09-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Read previewA family dog, tennis, and Disney Shanghai's LinaBell character have one thing in common — they might end up pulling China out of a long slump in consumer demand. Those rapidly growing areas are poised to drive a rebound in China's anemic consumer spending, Bank of America analysts say. China's pet economy is seeing outsize spending as pets come to occupy a greater place of prominence in households. Finally, the analysts see significant growth potential in the country's "cultural IP" economy — spending on books, movies, and experiences based on fictional characters or storylines. China's economy has been stuck in the doldrums amid weak consumer spending.

Persons: —, that's Organizations: Service, Disney, Bank of America, Business, Consumers Locations: China

☆ European markets poised to open higher after ECB rate cut
▼ + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are set to open higher Friday as investors continue to digest the European Central Bank's decision to cut rates and its impact on future monetary policy. The U.K.'s FTSE 100 is seen opening 1 point higher at 8,239, France's CAC up 20 points at 7,448, Germany's DAX 57 points higher at 18,563 and Italy's FTSE MIB up 41 points at 33,484 ,according to IG data. The European Central Bank slashed rates as expected on Thursday, marking its second 25-basis-point cut this year and bringing its key interest rate to 3.5%. Policymakers gave little indication on the course for monetary policy, however, with President Christine Lagarde saying the bank was not "pre-committing to a particular rate path." Asia-Pacific markets, meanwhile, were mixed, as mainland Chinese markets rebounded from a six-year low and Australian markets near an all-time high.

Persons: Germany's DAX, Christine Lagarde Organizations: Central, France's CAC, European Central Bank, U.S, U.S . Federal Locations: U.S ., Asia, Pacific, Europe, France

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