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First Solar is the largest manufacturer of solar panels in the U.S. and is rated overweight at Wells Fargo. But the domestic manufacturing tax credits that benefit First Solar are likely to survive because they support jobs in GOP congressional districts, according to the bank. Tailwinds from tariffs, however, would be offset by headwinds from IRA repeal if the GOP goes after the manufacturing tax credits. In the universe of publicly-traded solar stocks, however, analysts view First Solar as best positioned to weather the storm. "In our view, higher tariffs on imported solar panels would diminish competition from Chinese manufacturers, pushing demand towards First Solar's U.S.-made products."
Persons: Donald Trump's, Michael Blum, Trump Organizations: Wells, Republicans, headwinds, GOP, Bank of America Locations: tandemm, U.S, Wells Fargo, China
The move comes as inflation remains on a downward trend while the job market continues to lose momentum. While that has helped rein in price pressures, it also puts the job market in jeopardy. So I’m going to be patient.”Still, rate cuts are expected to stretch through 2025, even during a Trump presidency, according to economists. On one hand, there’s evidence that America’s job market has continued to lose momentum in recent months. But since Trump’s economic vision could eventually stoke inflation, that could mean the Fed delivers fewer rate cuts in the coming years.
Persons: Jerome Powell, Donald Trump, Powell, “ I’m, Raphael Bostic, , Kamala Harris, Felipe Villarroel, , Trump, hasn’t, Arthur Burns, Richard Nixon, Ben Bernanke Organizations: Washington CNN, Federal, President, White, Atlanta Fed, Trump, TwentyFour Asset Management, Fed, CNN, White House, Capitol Locations: Jackson , Mississippi
Executives focused on hiring told Business Insider that the newfound clarity is already making some employers more willing to post jobs. "Our phone was basically ringing off the hook with companies looking to hire," Lief Larson, CEO of Salesfolks, a staffing firm focused on sales roles, told BI. "We're seeing a pretty healthy number of roles planning to be posted in January, probably more than we even expected," Volberg told BI. A postelection rush to hireAaron Cleavinger, a managing partner at Murdoch Mason Executive Search Group, told BI that he's been "inundated" with new search requests from clients since the election. Rahbar said reductions to immigration could hurt industries beyond agriculture and construction, including tech.
Persons: Donald Trump's, , haven't, Lief Larson, Tim Glowa, Michelle Volberg, who's, Volberg, she's, that's, Kathleen Lin Hurtubise, Hurtubise, Jason Leverant, Leverant, reshoring, Elon Musk, Aaron Cleavinger, they're, Cleavinger, Peter Rahbar, Rahbar Organizations: Service, Aloha Hospitality Professionals, AtWork Group, Tesla, Murdoch
While the Federal Reserve is still concerned about inflation, "we're seeing these signs of weakness in the labor market," Scanlon said. "This suggests that the labor market remains firm despite signs of weakening," J.P. Morgan noted. 'What the bond market is telling us'The stock market rallied after the presidential election results. That's what the bond market is telling us." Depending on what policies are enacted under Trump's second term, the inflation problem might get worse, experts say.
Persons: Brett House, Scanlon, There's, Mark Hamrick, J.P, Morgan, Hamrick, Trump Organizations: Columbia Business School, Bureau of Labor Statistics, Federal Reserve, of Labor Statistics, BLS, Dow Jones, Nasdaq, Treasury, Trump Locations: U.S, China
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Nissan is cutting 9,000 jobs globally to reduce costs, the company said Thursday. Nissan will cut production capacity by 20% and executives will take pay cuts. AdvertisementNissan is cutting 9,000 jobs globally in an effort to cut costs, the Japanese automobile giant said in an earnings statement on Thursday. Nissan said that sales volumes decreased year-on-year to 1.6 million cars, hurt by higher selling and production costs, particularly from the US. Along with the layoffs, Nissan is cutting production capacity by 20%.
Persons: , Makoto Uchida, Guillaume Cartier, Carlos Ghosn Organizations: Nissan, Service, Automotive News, Automotive Locations: Africa, Middle East, India, Europe, Oceania, China, North America, Japan, Lebanon
Nissan plans 9,000 job cuts, slashes annual profit outlook
  + stars: | 2024-11-07 | by ( ) www.cnbc.com   time to read: +2 min
A Nissan badge is attached to the grill of a 2013 Nissan Pathfinder on December 3, 2012 in Niles, Illinois. Nissan Motor Co is recalling more than 300,000 SUVs in the United States over an issue in which the hood suddenly opens, obstructing the driver's view and increasing the risk of a crash. Nissan Motor said it would slash 9,000 jobs and cut global production capacity by a fifth, while revising its annual profit outlook sharply lower as it battles headwinds in China and the United States. Japan's third-largest automaker cut its annual operating profit forecast by 70% to 150 billion yen ($975 million), marking its second downward revision after a 17% cut earlier this year. Together, the two markets account for nearly half of Nissan's global sales by volume.
Persons: Makoto Uchida, Uchida Organizations: Nissan, Nissan Pathfinder, Honda Locations: Niles , Illinois, United States, China, U.S, Japan's
Firm dollar keeps peers on back foot ahead of BOE, Fed decisions
  + stars: | 2024-11-07 | by ( ) www.cnbc.com   time to read: +3 min
Trump's policies on restricting illegal immigration, enacting new tariffs, lowering taxes and deregulation may boost growth and inflation and crimp the Fed's ability to cut rates. Following the election, markets now see about a 70% chance the Fed will also cut rates next month, down from 77% on Tuesday, according to the CME Group's Fed Watch Tool. Anything less than a "dovish cut" from the Fed on Thursday could see traders trim back bets for a December cut and the dollar and yields rising higher, Simpson added. The yen was up 0.22% at 154.30 per dollar, after touching 154.7 on Wednesday, its lowest against the greenback since July 30. The Riksbank is seen easing by 50 basis points, and the Norges Bank is set to stay on hold.
Persons: Donald Trump's, Matt Simpson, Trump, Treasuries, Simpson Organizations: U.S, Federal Reserve, Trump, White, Index, Treasury, Fed, Republicans, CME, Bank of England, Norges Bank, Bitcoin Locations: U.S, Index ., cryptocurrencies
New York City is experiencing its highest level of homelessness since the Great Depression, according to the non-profit group Coalition for the Homeless. Another New York non-profit, City Harvest, says nearly 1.3 million residents are food insecure, including 1 in 4 children, in America’s most populous city. Is there anyone on this train who’s hungry?” Thomas bellows from the center of the car. But with the number of unhoused and hungry people in New York City only growing, the task often feels daunting. The food is saving someone’s lifelong term, but for him I was helping him live, right there on the spot.”Henry Thomas distributes food in the New York City subway.
Persons: Henry Thomas, Thomas, , , “ I’m, ” Carl Thomas, Julian Rigg, Carl, Rolando “ Divine ” Farrow, Farrow, who’s, , Eric Adams, Kathy Hochul, Hochul, Adams, ” Adams, Thomas isn’t, ” Thomas, Henry, Carl Thomas, ‘ I’ve, Joe, Thomas ’, “ I’ve, ” Henry Thomas, he’s, Kendrick Lamar, someone’s, Thomas peeks Organizations: New, New York CNN, CNN, Homeless, Coalition, Food, Therapeutic, Gov, Nutrition Assistance, Women, of Social Services, Prevention, West, Penn Locations: New York, Herald, Yorkers, . New York City, America’s, Greeley, Park, Staten, Staten Island, New York City, Harlem, Midtown Manhattan, Senegal
President Trump has said he plans to install a blanket tariff of 10% to 20% on all imports, with additional tariffs of 60% to 100% on goods brought in from China. In the September Presidential debate, Trump characterized the plan as a way to extract money from rival nations. Economists, however, tend to agree that such a plan would would have the effect of raising prices on everyday goods. How tariffs workSimply put, a tariff is a tax on imports, though not one paid by the exporting country. Trump has floated the idea that a tariff policy could eventually replace U.S. federal income tax altogether, a convention that the nonpartisan Peterson Institute for International Economics called "literally impossible."
Persons: Donald Trump, Trump, Howard Gleckman Organizations: Republican, Palm Beach Convention, U.S ., Urban, Brookings Tax Policy Center, CNBC, Tax Foundation, Peterson Institute for International Locations: Palm Beach, West Palm Beach , Florida, China, U.S
It all started with a summer project when he was 12 and "super into the game Minecraft," Guo tells CNBC Make It. He recently moved from Southern California to Bali, Indonesia, where he splits a villa with friends and spends his free time surfing. The expense is well worth it for high-quality food, Guo says: "One of the best parts about Bali is how clean and healthy the food is. "Most of my expenses go towards food, but if I do spend money, it's typically towards gifts for family or my girlfriend." As far as what he doesn't spend on, "I absolutely refuse to spend money on things that depreciate in value," like luxury goods, Guo says.
Persons: Steven Guo's, Guo, Steven Guo, Roth, frugally, China who's, We're Organizations: CNBC, University of California, Amazon Prime, YouTube, Transportation Locations: Southern California, Bali, Ruda Putra, Indonesia, Irvine, U.S, Philippines, UK, India, California, Canggu, Portugal, Australia, Hawaii, China, Canada
CNN —Donald Trump announced on Thursday that his campaign manager, Susie Wiles, will be named his White House chief of staff. “Susie Wiles just helped me achieve one of the greatest political victories in American history, and was an integral part of both my 2016 and 2020 successful campaigns,” the president-elect said in a statement. It is a well deserved honor to have Susie as the first-ever female Chief of Staff in United States history. “Susie Wiles ran Trump’s best campaign of the three, and it wasn’t particularly close,” Turning Point USA CEO Charlie Kirk wrote on X. The president, and America, would be well served with Susie in that key role.”CNN’s Kaitlan Collins and Kevin Liptak contributed to this report.
Persons: Donald Trump, Susie Wiles, “ Susie Wiles, Susie, ” Trump, Wiles, Trump, Laura Loomer, Brooke Rollins, Rollins, , Kamala Harris, Pat Summerall, Chris LaCivita, Trump’s, Charlie Kirk, doesn’t, ” CNN’s Kaitlan Collins, Kevin Liptak Organizations: CNN, White, Staff, United, Policy, Pentagon, NFL, Trump, Palm Beach Convention Locations: United States, Trump, Florida, Palm Beach, America
New York CNN —Donald Trump rode a powerful wave of discontent over the cost of living back to the White House. Trump reminded voters often that inflation wasn’t a problem when he was calling the shots. But if he’s not careful, Trump could have an inflation problem of his own. They point to study after study that shows Americans bore almost the entire cost of Trump’s tariffs on China. “When Trump uses tariffs as a negotiating tool, I’m fine with that,” Moore said during a phone interview in late October.
Persons: Donald Trump, Trump, he’s, ” Ryan Sweet, won’t, ” Sweet, , Joe Biden, CNN’s Phil Mattingly, ” He’s, Trump’s, “ We’re, ” Daniel Alpert, CNN’s Allison Morrow, Stephen Moore, CNN he’s “, ” Moore Organizations: New, New York CNN, Voters, Oxford Economics, CNN, Trump, Federal, Peterson Institute for International Economics, Peterson Institute, National Retail Federation, Westwood Capital Locations: New York, Washington, Pennsylvania, China
David Zaslav wanted a new president that was open to M&A. And we still don't know if Trump will have problems with specific deals — like he did when AT&T wanted to buy Time Warner. AdvertisementDavid Zaslav wanted a new president who would make it easier for his company to buy other companies — or sell itself. The second version of the Trump administration may be a boon for media companies facing "generational disruption," the Warner Bros. AdvertisementBut even if the new Trump administration is more receptive to big deals, that doesn't make them a foregone conclusion.
Persons: David Zaslav, Trump, , it's, Zaslav, John Malone, there's, Joe, Biden, Lina Khan, Jonathan Kanter, Shari, There's, Time Warner's, Rupert Murdoch's, Malone Organizations: Big Media, Time Warner, Service, Warner Bros, Discovery, Netflix, Federal Trade Commission, Department of Justice, Paramount, Trump, Trump's Department of Justice, Time Warner's CNN, T, Disney, CNN
Now, Stevenson is a published author and teaches economics through his YouTube channel, Garyseconomics. He discusses his time in Basic Underwater Demolition/SEAL training, or BUD/S, and how he was recruited. After seeing combat in Afghanistan, Iraq, and Haiti, Ryan left the Navy and worked as a contractor for the CIA. He discusses work as a spy and CIA protocol. Kenneth Valentine served as a special agent in the US Secret Service for 24 years and protected three sitting presidents, Bill Clinton, George W. Bush, and Barack Obama.
Persons: Gary Stevenson, Stevenson, Shawn Ryan, Ryan, Shawn Ryan Show, Andrew Bustamante, Bustamante, Maven Huffman, Huffman, Vince McMahon, Kenneth Valentine, Bill Clinton, George W, Bush, Barack Obama, Valentine, Donald Trump, he's, Mike Chioda's, Gary Stevenson's, Shawn Ryan https Organizations: Citibank, Business, YouTube, Navy, CIA, Central Intelligence Agency, Peace Corps, Air Force, WWE, Service, BI Locations: London, Tokyo, Canary Wharf, Afghanistan, Iraq, Haiti
The Federal Reserve cut interest rates by 25 basis points on Thursday. AdvertisementAnother interest-rate cut is headed Americans' way. On Thursday, the Federal Open Market Committee announced a 25-basis-point interest-rate cut after a 50-basis-point cut in September. AdvertisementGiven the lag in monetary policy, the interest-rate cuts won't give Americans immediate relief on their credit cards, housing, or car loans. Still, some Democratic lawmakers urged the Fed to implement another 50-basis-point cut to give Americans more financial relief.
Persons: , Donald Trump, Trump, Matthew Ryan, Jerome Powell, Milton, Helene —, Elizabeth Warren, John Hickenlooper, Powell Organizations: Reserve, Service, Federal, Market, Trump, Boeing, Fed Locations: Sens
Eli Milliman became a stay-at-home dad when his wife started a full-time job and excelled in it. AdvertisementThis as-told-to-me essay is based on a conversation with Eli Milliman, a 46-year-old stay-at-home dad in Florence, Alabama. My wife, Shannon, and I grew up together in a conservative Christian community in Utah. I told her I didn't take pride in the idea that I must be the breadwinner because I'm the man. My parents even had concerns and questioned our decision to have me be a stay-at-home dad.
Persons: Eli Milliman, , Shannon, I've, they're, we've Organizations: Service, Kroger Corporation Locations: Florence , Alabama, Utah, Oregon, Alabama
More than half of college seniors feel pessimistic about joining the workforce, per a Handshake survey. First-time job seekers told BI they're seeking stability in their careers. AdvertisementAmid a dwindling pool of entry-level positions and ongoing layoffs in once seemingly foolproof fields, Gen Z college grads are feeling uneasy about starting their professional lives. The 21-year-old told BI that she is regularly casing career fairs and updating her portfolio with new projects to stand out come spring. She told BI she likes her work but wishes she made more than her $40,000 salary.
Persons: Z, , Insider's Aki Ito, Hiba Rizvi, Rizvi, they're, Christine Cruzvergara, Cruzvergara, Goldman Sachs, Sasha Friese, Friese, she'll, I've Organizations: Service, Loyola University Chicago, Big Tech, Washington Post, Commerce Department, University, Washington, BI, University of San Locations: San Diego, University of San Diego
Trump’s Hispanic vote percentage beat the previous record, set by George W. Bush's in 2004, when Bush won as much as 44% of the Hispanic vote. Pennsylvania voter Regino Cruz, 25, said Tuesday that he voted for Trump, believing the former president could improve the economy. In the battleground state of Pennsylvania, 4 in 10 Latino voters supported Trump, up from 3 in 10 in 2020. Carlos Odio, co-founder of Equis Research, a Democrat-leaning polling and research company, said Latino voters who backed Trump liked his prioritization of the economy. “Trump is going to put an end to that.”Hispanic men were key in propelling Trump to victory and a historic Latino vote share.
Persons: Donald Trump, Kamala Harris, Trump, George W, Bush, Barack Obama, Hilary Clinton, joe Biden, Harris underperformed Biden, underperformed Biden, Regino Cruz, , Cruz, John B, Puerto Rico, Harris, Sen, Ted Cruz of, Ethan Miller, Eduardo Gamarra, ” Gamarra, Biden, Carlos Odio, ” Odio, , Odio, Justin Hamel, Artemio Muniz, Muniz, Kalman Nunez, “ Trump, Fernando Rivera, Danny Martinez, Yahaira Rodríguez, ” Christianea Valentine, Vianca Rodriguez Organizations: House, Republican, NBC, Trump, Stetson Middle School, Puerto, Telemundo, CNBC, Democratic, Republicans, Ted Cruz of Texas, Department, Florida International University, Equis Research, Democrat, National Guard, Border Patrol, Bloomberg, Getty, Federation of Hispanic Republicans, Puerto Rico Research, University of Central, Locations: Wisconsin, Michigan, Pennsylvania, Texas, Florida, Puerto Rican, Northern Philadelphia, Starr County , Texas, Miami, Dade , Florida, Clark, Las Vegas, U.S, , New York, New Jersey, Mexico, Sasabe, Milwaukee, Puerto Rico, University of Central Florida, Philadelphia
WEST PALM BEACH, Fla. — Robert F. Kennedy Jr., who may play a key role overseeing public health issues in a second Trump administration, said Wednesday that he won't take away people's vaccines. "I’m not going to take away anybody’s vaccines," Kennedy said in an interview with NBC News when asked if there are specific vaccines that he would remove from the market. He will meet with senior Trump aides on Wednesday to discuss his role going forward. Shannon Finney / Getty Images file"If vaccines are working for somebody, I’m not going to take them away. Three days before the election, Trump hadn't ruled out whether he would ban certain vaccines.
Persons: Robert F, Kennedy Jr, Trump, I’m, Kennedy, , Shannon Finney, Trump hadn't, ” Trump, haven't, it's, ” Kennedy, Vaughn Hillyard, Rebecca Shabad Organizations: NBC News, Children's Health Defense, Trump, Department of Health, Human Services, Washington , D.C, Getty, Food and Drug, Republican White House, West Palm Beach Locations: BEACH, Fla, Washington ,, Europe, Canada, West Palm, New York
To lower housing costs, Trump has said he would allow homes to be built on federally protected land, something that could help increase the supply of homes in places like Nevada and Arizona. TaxesTrump has proposed a number of tax cuts, including a complete elimination of the federal income tax. Those cuts lowered the corporate tax rate to 21% from 35%, reduced individual income tax rates, and increased the standard deduction. That could create havoc for workers and consumers and reduce the amount of income taxes the federal government brings in. About 40% of Social Security recipients pay federal income taxes, typically because they have other sources of income that raise them above a certain threshold where they are required to pay income tax, according to the Social Security Administration.
Persons: Donald Trump, Trump, , ” Trump, , Decker, Matt Priest, , Priest, It’s, He’s, hasn’t, Immigration Trump, Jim Tobin, Trump’s Organizations: Trump, Chicago Economic, Companies, National Bureau of Economic Research, Footwear Distributors, Retailers, U.S, Federal Reserve, Immigration, Business, Pew Research Center, NBC News, National Association of Home Builders, NBC, University of New, University of Pennsylvania, Social Security, Social, Social Security Administration Locations: U.S, China, Nevada, Arizona, Alaska, Saudi Arabia, Russia, University of New Hampshire
Equatorial Guinea on Tuesday ordered a crackdown on sex in government offices after private videos leaked on social media appeared to show a senior finance ministry official having sex with several women in various places, including his office. The government said it was taking action because the videos had denigrated the tiny Central African country’s image. Equatorial Guinea has been ruled by the same president for decades and the scandal has been shaking the government since the videos first emerged last week. The women featured in the videos appeared to include wives of other powerful government figures and other family members, local media said. President Teodoro Obiang has ruled Equatorial Guinea, a nation of some 1.7 million people on the west coast of Central Africa for 45 years and is the world’s longest-serving president.
Persons: Nguema Obiang Mangue, Teodoro Obiang Organizations: Reuters, Supreme Locations: Equatorial Guinea, Guinea, Central Africa
Democratic Rep. Lisa Blunt Rochester will become the first Black woman to represent Delaware in the Senate after she defeated Republican Eric Hansen and independent candidate Mike Katz, NBC News projects. Blunt Rochester, 62, told NBC News before Election Day that she had her sights set on creating jobs, protecting reproductive rights, health care and centering the needs of seniors and families. Blunt Rochester said that despite her lead in the polls, she took nothing for granted. In her grief, Blunt Rochester said, she sought direction and felt inspired to run for office. EMILY’s List, which supports women running for elected office, called Blunt Rochester a “groundbreaking leader” in a statement Tuesday night.
Persons: Lisa Blunt Rochester, Republican Eric Hansen, Mike Katz, Blunt Rochester, I’m, , , ” Hansen, Katz, Laphonza Butler, Gavin Newsom, Dianne Feinstein, Butler, Debbie Walsh, Kamala Harris, Carol Moseley Braun, ” Walsh, ” Blunt Rochester, Sen, Tom Carper, Carper, Ruth Ann Minner, Delaware’s, Blunt, Jessica Mackler Organizations: Democratic, Republican, NBC, NBC News, Walmart, Procter, Gamble, Senate, Gov, Center for American Women, Rutgers University, Carol Moseley Braun of Illinois, Black, Democrat, Metropolitan Wilmington Urban League, U.S . Senate Locations: Delaware, , California, New Jersey, Carol Moseley Braun of, U.S
I decided to take a job across the country in Alaska because I thought it would help my career. It was a huge mistake, and I lost most of my friends, but I learned not to put my career first. Near graduation, an exciting opportunity arose to pursue an internship in my dream field halfway across the country in Alaska. I said yes, moved to Alaska, and lost many of my friends in the process. While I regret the friends I've lost because of my past choices, I'm grateful that I've learned what matters now instead of years later.
Persons: , I've Organizations: Service Locations: Alaska
What we know about the transition so far
  + stars: | 2024-11-06 | by ( Betsy Klein | ) edition.cnn.com   time to read: +6 min
Representatives from Trump’s team met with federal agency transition planners last week to discuss “post-election readiness,” according to a White House official. GSA “is prepared to provide services to the Trump transition team once an MOU is executed and services are accepted,” a GSA spokesperson said. The federal transition coordinator, a White House spokesperson told CNN, is “actively working” with the president-elect’s transition team to complete its MOU. Trump’s transition team also has not met that deadline. The Agency Transition Directors Council, co-chaired by OMB deputy director Jason Miller and the GSA’s federal transition coordinator, Aimee Whiteman, began meeting monthly with career representatives from each agency.
Persons: Donald Trump, Biden, ” Max Stier, Stier, “ The, , Linda McMahon, Cantor Fitzgerald, Howard Lutnick, Harris, Jason Miller, Aimee Whiteman, Valerie Boyd, Barack Obama, Joe Biden, Obama, Trump, ” Trump Organizations: Washington CNN —, Trump’s, White, Public Service, CNN, “ The Biden, Trump, Office of Management, Budget, General Services Administration, Republican, Democratic Party, OMB, GSA, Small Business Administration, , House, Activity, Center, Partnership for Public Service
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