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☆ Florida state colleges may allow entrance exam favored by many conservatives
▼ + stars: | 2023-09-08 | by ( Sharon Bernstein | ) www.reuters.com time to read: +4 min

Students stage a walk out from Hillsborough High School to protest after Florida education officials voted to ban classroom instruction on gender identity and sexual orientation in all public school grades. The Board of Governors of the 12-campus State University System of Florida will consider the adoption of the Classic Learning Test (CLT) on Friday. The test's adoption would mark the third time that Florida Governor Ron DeSantis has taken on the non-profit College Board, which administers the SAT, or Scholastic Aptitude Test. The College Board has pushed back against the new test, criticizing as flawed a study meant to compare students' scores on the CLT with scores on the SAT. Reporting by Sharon Bernstein in Sacramento, California; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Octavio Jones, Chancellor Ray Rodrigues, Ron DeSantis, DeSantis, Priscilla Rodriguez, Jeremy Tate, Tate, Thomas Aquinas, Dante Alighieri, Frederick Douglass, Flannery O'Connor, Sharon Bernstein, Grant McCool Organizations: Hillsborough High School, REUTERS, Governors, State University System, ACT, Florida, Board, Republican, College, American Studies, The, College Board, Thomson Locations: Florida, Tampa , Florida, U.S, Southern U.S, Sacramento , California

☆ Weinstein group revises Sculptor bid after board's concerns -Bloomberg News
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Boaz Weinstein, founder and chief investment officer at Saba Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian Acquire Licensing RightsSept 6 (Reuters) - Wall Street investor Boaz Weinstein and his group of bidders have revised their offer to buy hedge fund firm Sculptor Capital Management (SCU.N), Bloomberg News reported on Wednesday, citing people familiar with the matter. The group, called Bidder J, which includes Bill Ackman, Marc Lasry and Jeff Yass, as well as Weinstein, made the offer for Sculptor last month. Sculptor Capital Management and Weinstein's Saba Capital Management didn't immediately respond to Reuters requests for comment on Wednesday. Sculptor chose to stay with Rithm's $11.15 per share bid, saying the Bidder J offer had "significantly less certainty of closing."

Persons: Boaz Weinstein, Richard Brian Acquire, Bill Ackman, Marc Lasry, Jeff Yass, Weinstein, Dan Och, Rishabh, Sandra Maler, Leslie Adler Organizations: Saba Capital Management, REUTERS, Wall, Capital Management, Bloomberg, Sculptor Capital Management, Weinstein's Saba Capital Management, Rithm, Thomson Locations: Las Vegas , Nevada, U.S, New York, Bengaluru

☆ DeSantis board asks court to dismiss Disney's counterclaims in contract clash
▼ + stars: | 2023-09-07 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Ron DeSantis to oversee Walt Disney World's special tax district asked a state court to dismiss Disney 's bid to recover damages over a breach of contracts counterclaim. "All of Disney's counterclaims fail as a matter of law," attorneys for the district board wrote in a court filing Wednesday in circuit court in Orange County, Florida. That's mainly because Disney's contracts are "void as a matter of Florida law and therefore have never had any legal force or existence," the board wrote. Shortly thereafter, DeSantis, who signed the Republican-backed legislation, targeted the special district that had allowed Disney to effectively self-govern its Orlando-area theme parks for decades. The DeSantis-backed board members had voted to nullify Disney's contracts after accusing the company of trying to undermine the new board's authority and sneaking the deals through right before the change in leadership took place.

Persons: Ron DeSantis, Disney's, Disney, DeSantis Organizations: Florida Gov, Walt Disney, Disney, Republican Locations: Orange County , Florida, Florida, Orlando, Reedy Creek, District, Central Florida

☆ Hurricane Idalia forces Biden and Ron DeSantis to get along — at least a little bit
▼ + stars: | 2023-09-02 | by ( Henry J. Gomez | ) www.cnbc.com time to read: +9 min

Chris Christie in the eye of a political hurricane. It's a striking difference from a year ago, in the aftermath of Hurricane Ian, when DeSantis joined Biden on his tour of the state. But DeSantis' hurricane leadership has reflected positively on him in the past. The DeSantis campaign, grounded in Tallahassee this week, signaled that it sees such opportunities. Christina Pushaw, DeSantis' combative rapid response director, shared on social media Friday a Wall Street Journal editorial headlined "Hurricane Ron DeSantis."

Persons: It's, Superstorm Sandy, Chris Christie, Obama, Vivek Ramaswamy, Christie, Ramaswamy, Barack Obama, Hurricane Idalia, Ron DeSantis, DeSantis, Joe Biden, Hurricane Ian, Biden, Weeks, Idalia, Biden's, Ian, Jeremy Redfern, Bill Palatucci, there's, Beth Hansen, John Kasich's, Donald Trump, Trump, Hansen, " Hansen, James Uthmeier, Christina Pushaw, Ben Shapiro, Andrew Romeo, Saturday's, Palatucci Organizations: Republican, Democratic, White, pats, Hurricane, Gov, DeSantis, NBC, FEMA, GOP, Biden, Democrat, Ohio Gov, Daily, Wednesday Locations: New Jersey, Florida, Hurricane, Jacksonville, Iowa, Tallahassee

☆ Swiss takeover board rules NewGAMe's partial offer for GAM shares complies with rules
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 31 (Reuters) - Switzerland's takeover board has ruled that a partial offer for up to 28 million shares of GAM Holding (GAMH.S) by an investor group comprising NewGAMe SA and Bruellan SA is in line with Swiss takeover rules, NewGAMe said on Thursday. The arrangement would be also that the investor group would propose new GAM board members at the upcoming extraordinary general meeting (EGM), where the fund manager's current board is expected to stand down. The regulator on Thursday also challenged the validity of the condition making NewGAME's offer conditional to Rock's candidates being elected to GAM's board, NewGAMe said. Last week, a takeover offer from Liontrust won the backing of just 33.64% of GAM's shareholders. ($1 = 0.8830 Swiss francs)Reporting by Kanjyik Ghosh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, NewGAMe, Xavier Niel's NewGAMe, Liontrust, Kanjyik Ghosh, Maju Samuel Organizations: REUTERS, GAM, NewGAMe SA, Bruellan SA, Swiss, Rock Investment, Swiss Financial Market Supervisory Authority, Thomson Locations: Zurich, Switzerland, Bengaluru

☆ Wells Fargo, a juicy target, sparks lead counsel fight among shareholder firms
▼ + stars: | 2023-09-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Meanwhile, yet another plaintiffs' firm, Robbins, is deep into a similar derivative suit against Wells Fargo board members in San Francisco Superior Court. But it’s worth noting that in 2022, Wells Fargo won the dismissal of a previous shareholder derivative suit accusing the board of regulatory compliance failures. Kessler said its complaint, which includes "detailed" and "substantial" references to Wells Fargo internal documents, was more likely to withstand a dismissal motion from the bank. Scott + Scott told Tigar that it had the most up-to-date documents from Wells Fargo because it brought a Section 220 demand after the $3.7 billion CFPB agreement. I would not be surprised to see a rival derivative suit filed in Delaware Chancery Court by one of the shareholder firms spurned by Tigar.

Persons: Cromwell, Wells Fargo, Wells, Robbins Geller Rudman, Dowd, Kessler Topaz Meltzer, Scott, Scott –, They're, Jon Tigar, Robbins, Wells Fargo’s, Kessler Topaz, Kessler, Robbins Geller, Tigar, Robbins Geller didn’t, Randall Baron, board's, Andrew Cheng, Read Organizations: Sullivan, U.S . Consumer Financial Protection Bureau, U.S . Office, Currency, OCC, Wells, U.S, District, San Francisco Superior Court, Tigar, Wells Fargo, San Francisco, Thomson, Reuters Locations: Oakland, Wells Fargo, San Francisco, Wells, San, California, Delaware Chancery

"This quarter puts Salesforce in a league of its own and isn't being appreciated nearly enough at these prices," Jim says. CRM YTD mountain Salesforce's year-to-date stock performance. That is likely why Salesforce stock traded at a valuation "well below" its peers, Smith argued at the time. For context, here's the full list of Salesforce peers included Starboard's presentation: Club holding Microsoft 's (MSFT) productivity and business processes segment, Adobe, Club holding Oracle (ORCL), Intuit (INTU), ServiceNow, Workday and SAP (SAP). Importantly, that $265 target is strictly the result of applying current average peer valuation to Salesforce's current growth/profit mix.

Persons: Marc Benioff, Jim Cramer, Jim, Salesforce, Jeff Smith —, Smith, Salesforce's, —, it's, Jim Cramer's, Patrick T Organizations: —, Club, ServiceNow, Adobe, Microsoft, Oracle, Intuit, SAP, CRM, CNBC, Salesforce.com Inc, Global Technology, Fallon, Bloomberg, Getty Locations: That's, TurboTax, Salesforce's, Laguna Beach , California, U.S

☆ Former Prudential boss leading contender for CEO role at St James's Place - Sky news
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Former interim CEO of insurer Prudential (PRU.L) is the leading contender to take the top job at British asset manager St James's Place (SJP.L), succeeding current chief Andrew Croft, Sky news reported on Thursday. Mark FitzPatrick, interim CEO at the Asia-focused insurer for a period last year, has emerged as the SJP board's preferred successor to company veteran Croft, according to the report. Sky news had in May reported Croft's plan to step down from the role he took over in 2018. St James's Place in July reported a fall in its half-year profit but attracted 3.4 billion pounds ($4.31 billion) of net inflows in what the company called a "challenging period" for UK investors. As of June 30, SJP held 157.5 billion pounds worth of funds under management.

Persons: St James's, Andrew Croft, Mark FitzPatrick, board's, Croft, SJP, Prerna Bedi, Shilpi Majumdar Organizations: Prudential, St, Sky, Thomson Locations: Asia, James's, Bengaluru

☆ Morning Bid: Cooler labor warms markets
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +5 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Stubborn inflation readings from Europe on Wednesday and hesitation around this week's China market rebound suggested the coast was far from clear despite worldwide stock and bond market rally in the previous session. Ebbing consumer confidence in August reinforced the message of slowing activity, however, and The Conference Board's so-called labor market differential, derived from respondents' views on whether jobs are plentiful or hard to get, narrowed by almost six points to 26.2% - its lowest since April 2021. China's stock markets also stalled after a two-day rally, with U.S. Commerce Secretary Gina Raimondo claiming on her three-day visit to the country that many U.S. firms now see China as "un-investable". But it seemed to draw a line under the stock market this week with a series of supports and the prospect of further cuts in lending, deposit and mortgage rates.

Persons: Mike Segar, Mike Dolan, St's, bitcoin, Gina Raimondo, Denmark's, Kristalina Georgieva, James, Brown, Forman, Louise Heavens Organizations: Wall, New York Stock Exchange, REUTERS, Labor, Nasdaq, Securities, Exchange, U.S . Commerce, International Monetary Fund, Treasury, Cooper Companies Reuters Graphics Reuters, Reuters, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Europe, China, Monday's U.S, Spain, Beijing, payrolls, Shanghai, CrowdStrike

☆ Meta rejects recommendation to suspend former Cambodia PM from Facebook
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

Hun Sen speaks at a press conference at the National Assembly after a vote to confirm his son, Hun Manet, as Cambodia's prime minister in Phnom Penh, Cambodia, August 22, 2023. Meta, in a written statement, agreed to take down the video but said it would respond to the board's recommendation to suspend Hun Sen after a review. Cambodia barred the 22-member oversight board from the country, declaring the recommendation was "political" in nature. Hun Sen remains influential in Cambodia and after stepping aside vowed to stay in politics for at least another decade. Cambodia's Ministry of Post and Telecommunications on its Facebook page on Tuesday "congratulated" Facebook for its decision and reiterated that the Meta oversight board was still unwelcome.

Persons: Hun Sen, Hun Manet, Cindy Liu, Hun, Fanny Potkin, Martin Petty Organizations: National Assembly, REUTERS, Meta, Cambodian People's Party, Facebook, Cambodia's Ministry of Post, Telecommunications, Thomson Locations: Phnom Penh, Cambodia

Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. While Ben & Jerry's board oversees its social mission, Unilever retained authority over financial and operational decisions when it bought the ice cream company in 2000. Founded in 1978, Ben & Jerry's has long positioned itself as socially conscious. It said in July 2021 that selling ice cream in the occupied Palestinian territories was "inconsistent with our values." In 2022, Unilever sold its interest in Ben & Jerry's operations in Israel.

Persons: Jerry's, Andrew Kelly, Lorna Schofield, Schofield, Ben, Jody Godoy, Jonathan Stempel, Cynthia Osterman Organizations: Unilever, REUTERS, Unilever Plc, Ben, West Bank, District, Unilever American, Clair Shores Police, Court, Southern District of, Thomson Locations: Manhattan , New York City, U.S, Manhattan, Palestinian, Michigan, East Jerusalem, St, Clair Shores, Israel, The Vermont, Southern District, Southern District of New York, New York

☆ US labor market loses steam as job openings, resignations decline
▼ + stars: | 2023-08-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was reinforced by a survey from the Conference Board showing consumers' perceptions of the labor market cooled in August. Nevertheless, labor market conditions remain tight, with 1.51 job openings for every unemployed person in July, compared to 1.54 in June. Economists polled by Reuters had forecast 9.465 million job openings. State and local government education job openings declined by 62,000 and there were 27,000 fewer federal government vacancies. Reuters GraphicsDeclining job openings are likely to be mirrored by slower job growth in August.

Persons: Elizabeth Frantz, Conrad DeQuadros, payrolls, Jerome Powell, Jackson, Jeffrey Roach, Christopher Rupkey, Scott Anderson, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Federal Reserve, Labor, Survey, Labor Department, Board, Brean, Reuters, Midwest, Reuters Graphics, LPL Financial, Treasury, Fed, Companies, Bank of, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Northeast, West, Wyoming, Charlotte , North Carolina, Stocks, San Francisco

☆ US labor market cooling as job openings, quits decline
▼ + stars: | 2023-08-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

That was reinforced by a survey from the Conference Board showing consumers' perceptions of the labor market cooling in August. Nevertheless, labor market conditions remain tight, with 1.5 job openings for every unemployed person in July. Economists polled by Reuters had forecast 9.465 million job openings in July. The decrease was led by the professional and business services sector, where job openings dropped 198,000. The quits rate, viewed as a measure of labor market confidence, fell to 2.3% from 2.4% in June.

Persons: Elizabeth Frantz, Conrad DeQuadros, Jerome Powell, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor, Survey, Labor Department, Board, Brean, Reuters, Treasury, Fed, Companies, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York

☆ Disney firefighters push back against DeSantis board appointees over decision to end free park passes
▼ + stars: | 2023-08-27 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Disney firefighters are upset over the loss of free park passes, a perk they had long cherished. one firefighter told the DeSantis-crafted board last week. Ron DeSantis created the board to take the place of the existing district. AdvertisementAdvertisementThe board's stance has put the firefighters in a frustrating dilemma, as they once welcomed DeSantis' takeover of the tax district. In lieu of the passes, Garcia indicated that the Central Florida district was poised to give employees a roughly $1,400 pay bump.

Persons: what's, DeSantis, Ron DeSantis, Pete Simon, Aaron Clark, Ricky Clark, Martin Garcia, Garcia Organizations: Disney, Service, Walt Disney, Improvement, Central, Republican Gov, Associated Press, DeSantis Locations: Wall, Silicon, Orlando, Central Florida, Reedy

☆ 'Manias die in vicious ways': A pair of fund managers who have beaten 99% of their peers over the last 5 years warn the S&P 500 will shed at least 30% of its value when the current bubble pops
▼ + stars: | 2023-08-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

They likened the current environment to the dot-com bubble around 2000. Cole told Insider he thinks the S&P 500 will lose at least 30% of its value in the years ahead. "This financial euphoria episode has gone to a sustained high that makes the dot-com bubble look like small change," he wrote in the August 22 letter. Smead is the founder of Smead Capital Management and comanages the Smead Value Fund (SMVLX) with his son, Cole. Don't take that to mean the S&P 500 will deliver low returns every year until 2033.

Persons: Cole Smead, Cole, Bill Smead, Smead, Russell, Akin Oyedele, It's, Manias, Bill, Dubravko Lakos, Lakos Organizations: Smead Capital Management, Yahoo Finance, it's, Netflix, Visa, Mastercard, Paypal, Smead, Federal, JPMorgan, CNBC, Conference

☆ China's economy faces a lopsided supply and demand problem that's been years in the making
▼ + stars: | 2023-08-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

That model is starting to show its weaknesses, however, as it's created a lopsided economy with too much supply and soft demand. "Stimulus functions on the supply side, and on the demand side you need structural reforms. Everything appears to be boiling over all at once, but China's problems have been years in the making. Confidence crisisThese issues have manifested most clearly in the real estate market, which now faces a glut of inventory thanks to years of overbuilding. "There could be a real rapid decline in real estate prices that would hurt a lot of people's livelihoods."

Persons: it's, William Hurst, hasn't, Hurst, that's, Alfredo Montufar Organizations: Service, University of Cambridge, New York Times, Conference Board, Garden Holdings, Conference Board's China Center Locations: China, Wall, Silicon, Beijing, Cambridge

☆ Florida's Board of Education is forcing state colleges to fire employees who don't use bathrooms of their assigned sex at birth
▼ + stars: | 2023-08-23 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

Florida's State Board of Education approved new bathroom restrictions for college employees on Wednesday. The rule says colleges should fire employees who don't use the bathroom of their assigned sex. AdvertisementAdvertisementFlorida's Board of Education voted to approve the rule during a meeting on Wednesday, which was live streamed on The Florida Channel. The Florida state college system, which includes 28 public community and state schools and serves nearly 650,000 students, is separate from the state university system, which includes the University of Florida and the University of Central Florida. Florida state colleges include Broward College, Gulf Coast State College, and North Florida College.

Persons: Ron DeSantis, Bill, DeSantis Organizations: of Education, Service, Florida State, Florida Gov, Education, Florida Channel, University of Florida, University of Central, Broward, Gulf Coast State College, North Florida College . Florida, GOP, Republican Locations: Florida's, Wall, Silicon, Florida, University of Central Florida . Florida, Broward College

☆ Foot Locker shares plunge 30% as it slashes guidance and blames 'consumer softness'
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

The dismal quarter prompted Foot Locker to lower its forecast again – just five months after introducing it. Those heavy markdowns have weighed on Foot Locker's margins, which dropped 4.6 percentage points compared with the year-ago period. Shrink, a retail industry term that refers to merchandise lost by theft, damage or other means, also weighed on profits, Foot Locker said. It didn't disclose how much shrink cut into its margins compared with promotions. But Foot Locker has been trying to reduce its reliance on Nike and balance its vendor mix.

Persons: Locker, Foot, Mary Dillon, Foot Locker Organizations: Refinitiv, Nike

☆ Goldman, JPMorgan, Morgan Stanley, UBS in $499 mln stock lending settlement
▼ + stars: | 2023-08-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

FILE PHOTO-A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNEW YORK, Aug 23 (Reuters) - Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), Morgan Stanley (MS.N) and UBS (UBSG.S) have agreed to pay $499 million to settle an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market. They also agreed to cooperate in the investors' case against the final defendant, Bank of America (BAC.N). Spokespeople for Bank of America and UBS declined to comment. EquiLend's governance changes include new restrictions on how board members share information, and limits on how many board seats each bank can hold.

Persons: Denis Balibouse, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Jonathan Stempel, David Gregorio Our Organizations: Swiss, UBS, REUTERS, JPMorgan, Investors, Credit Suisse, Bank of America, Spokespeople, U.S . Department, Iowa Public Employees, Bank of America Corp, Court, Southern District of, Thomson Locations: Zurich, Switzerland, Manhattan, U.S, Southern District, Southern District of New York, New York

The U.S. Supreme Court building is seen prior to the start of the court's 2022-2023 term in Washington, U.S. September 30, 2022. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsAug 21 (Reuters) - A parents group backed by a conservative legal organization asked the U.S. Supreme Court on Monday to consider whether an admissions policy aimed at diversifying an elite Virginia high school is racially discriminatory. But unlike the higher education cases, the admissions policy adopted in 2020 by Virginia's Fairfax County School Board for the state-chartered magnet high school was on its face race neutral. In February 2022, U.S. District Judge Claude Hilton sided with the parents' group lawyers at the libertarian Pacific Legal Foundation. Last year the Supreme Court declined an emergency request to block its policy, though three conservative justices dissented.

Persons: Kevin Lamarque, Thomas, Claude Hilton, Appeals, Nate Raymond, Clarence Fernandez Organizations: U.S, Supreme, REUTERS, Thomas Jefferson High School for Science & Technology, Fairfax, Fairfax County School Board, TJ, Coalition, District, Pacific Legal Foundation, Circuit, Thomson Locations: Washington , U.S, Virginia, Fairfax County, Alexandria, Constitution's, U.S, Richmond, Boston

He called the U.S. central bank's misreading of the issue "a major failure" that can mar analysis of where the economy stands. Since 2016, policies from the vastly different Trump and Biden administrations have combined in a sort of accidental complementarity to keep both job and economic growth above the Fed's estimate of potential. Median Fed policymaker projections of potential U.S. economic growth have slid from a level around 2.5% a decade ago to 1.8% as of June 2023, when the last projections were issued. Under pressure from colleagues to raise interest rates as the economy accelerated, Greenspan resisted and accommodated the expansion instead of fighting it. But it could help economic growth continue even as prices cool, another prop for the "soft landing" the Fed hopes to engineer and possible evidence of rising potential.

Persons: John Williams, Joe Biden, Adam Posen, Donald Trump, Trump's, Biden, Dana Peterson, Peterson, Jerome Powell, Board's Peterson, Alan Greenspan's, Greenspan, Jackson, John Fernald, Huiyu Li, Michael Feroli, Antulio Bomfim, Powell, Howard Schneider, Paul Simao Organizations: Federal Reserve, New York Fed, San Francisco, Fed, Reuters, BlackRock, Bank of England, Peterson Institute for International Economics, Trump, Biden, Conference Board, Jackson, San Francisco Fed, JPMorgan, Trust Asset Management, Thomson Locations: U.S, Jackson Hole , Wyoming, Washington

☆ China's economy is flailing. Here's how its problems could spill into global markets.
▼ + stars: | 2023-08-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

China's economy is facing headwinds ranging from an unstable property market to weak consumer demand. Experts told Insider that a worsening scenario in China bodes poorly for global markets and other economies like the US. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing." One way this is already being felt is in the softening of Chinese demand, which has led to a sharp drop in trade. And as the housing crisis deepens, it will become harder to China to right the ship, creating a lasting drag on future global growth.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Evergrande, Alfredo Montufar, Helu, Keith Hartley, Hartley, Noah Sheidlower, Dexter Roberts, David Roche, they're, Roche Organizations: Service, Privacy, China, Country Garden Holdings, China Center, Conference Board, Federal Reserve, Atlantic Council, Housing, Independent, CNBC Locations: China, Wall, Silicon, U.S

☆ Forget about a recession sinking the stock market. Rising rates threaten to spoil the party just like they did in 2022.
▼ + stars: | 2023-08-19 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Yields on 10-year Treasury yields have surged well above 4%. With both stock valuations and interest rates high, stock prices could continue to fall. Yields on 10-year Treasury notes surged to 15-year highs this week, surpassing 4.3% for the first time since late 2007. This has put a damper on what was a 20% rally for the S&P 500 from January to the end of July. The median S&P 500 year-end price target among major Wall Street strategists is 4,300, just below the index's current price around 4,370.

Persons: Stocks, Adam Turnquist, Treasurys, It's, John Lynch, they've, Tom Essaye, Lynch, Turnquist, David Rosenberg, Rosenberg, Greg Boutle, Cantor Fitzgerald's Eric Johnston, Piper Sandler's Michael Kantrowitz Organizations: Treasury, LPL, Bank of America, Comerica Wealth, Wall Street, Rosenberg Research, RBC, BNP

☆ Disney goes on offense in DeSantis board's lawsuit, seeks damages for breach of contract
▼ + stars: | 2023-08-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Spokespeople for the board and Disney did not immediately respond to CNBC's requests for comment. Disney's requests came in a 55-page filing denying the district board's allegations in its state-level lawsuit against the entertainment giant. The company seeks damages over the alleged breach, as well as a court order for the district to comply with development contracts that are at the heart of the legal fight between Disney and DeSantis. Disney has filed counterclaims, including a breach of contracts claim, against the board of supervisors picked by DeSantis to oversee Walt Disney World's special tax district, a Thursday court filing shows. Ron DeSantis may say he's " moved on " from his long-running feud with Disney , but the House of Mouse isn't easing up.

Persons: DeSantis, Spokespeople, Ron DeSantis, Walt, Donald Trump, Bob Iger, — Organizations: Disney, Walt Disney, Florida Gov, Improvement, Walt Disney World, Central, Republican, CNBC Locations: Central Florida, Florida, Orange County , Florida

☆ Few families pay the full price for college: Take these 3 steps to help cover rising higher education costs
▼ + stars: | 2023-08-17 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +5 min

The average sticker price for college, or published costs for tuition and fees, has been rising — but most families don't pay full price. Here are three strategies that can help you pay for college now and save for rising costs in the future. Last year, about 30% of parents used college savings plans such as 529 plans to pay for about $7,800 of college costs, on average, according to the Sallie Mae report. For families who remain concerned about making ends meet based on the financial aid award they've received, it is possible to ask the college financial aid office for more aid. If your circumstances are now different, that should be brought to the financial aid office's attention.

Persons: Sallie Mae, Adam Nguyen, Ivy Link, Roth IRAs, Ivy, Nguyen, Rob Franek, Mark Kantrowitz, they've, you've Organizations: College Board, Istock, Getty, Ivy, The Princeton, ACT, College

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