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The U.S. homeowner’s insurance industry has had three straight years of underwriting losses, according to credit rating agency AM Best. Record numbers of Americans are now insured through state-affiliated “insurers of last resort” like California’s FAIR Plan, or Louisiana or Florida’s Citizens property insurance companies. These programs were designed to insure properties where private insurance companies have refused to insure or the price for private insurance is too expensive. In Florida, Citizens Property Insurance Corp. now has 1.4 million homeowners’ policies in effect, nearly triple in five years. “It used to be homeowner's insurance was an afterthought when you are looking at buying a property.

Persons: you’re, ”, California Sen, Bill Dodd, Jeremy Porter, Fannie Mae, Todd Bevington, “ I’ve, Jen Goodlin, ‘, ’ ”, “ We’ve, ” Dodd, Dodd, Porter, Guy Carpenter, Lara Mowery, Mowery, ” Mowery, That’s, ” Bevington, Adam Beam, Janie Har Organizations: First Street Foundation, Bank of America, Treasury Department, Paradise, FAIR, Citizens Property Insurance Corp, Farm, Allstate, National Flood Insurance, Swiss, Munich Re, Hurricane Locations: California, Florida, Louisiana, Lahaina, Vermont, Maine, New York, U.S, “, Paradise, Northern California, Colorado, Munich, New Orleans, Gulf, Asheland, N.C, Sacramento, Calif, San Francisco

☆ Auto jobs are booming in the union-hostile South
▼ + stars: | 2023-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

New York CNN —Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Jobs at nonunion EV battery facilities pay less than the roughly $32 an hour that veteran UAW workers make. Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Mostly nonunion EV jobs and manufacturing investments are surging in Southern states led by Republicans. The South has picked up 66% of planned EV jobs, while projects in Midwestern states such as Michigan, Indiana, Kansas and Ohio have combined for 26% of planned jobs, according to S&P Global.

Persons: ’, Ford, nonunion autoworkers, ”, Stephen Silvia, Southern, Mason, Honda, Deni McIntyre, unionize, “ It’s, Nelson Lichtenstein, Jeffrey Greenberg, Lichtenstein, Bill Lee, Nikki Haley, Houston Cofield, Biden, Biden’s, Shawn Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Volvo, Benz, BMW, Toyota, Hyundai, American University, Southern Gamble, Workers, Foreign, Ford, GM, Dixon, Midwest, UAW, EV, P Global Market Intelligence, Nissan, Mercedes, Volkswagen, Kia, CNN, University of California, Clinton Presidency, Universal, Southern Republican, South . Tennessee Gov, Former South Carolina Gov, Republicans, North Carolina –, Environmental Defense Fund, P Global, Ford Motor Co, SK Innovation Co, Bloomberg, Getty, Big Three Locations: New York, Detroit, Smyrna , Tennessee, Spartanburg , South Carolina, Vance , Alabama, Lincoln , Alabama, Germany, Santa Barbara, Clinton, Korean, United States, Tennessee, Kentucky, Alabama, South, Chattanooga, Southern, – Georgia, South Carolina , Kentucky, North Carolina, Midwest . Georgia, Michigan, Indiana , Kansas, Ohio, Stanton , Tennessee, BlueOval

☆ There's no proof that student-loan companies are prepared to bring millions of borrowers back into repayment in under 2 weeks, 2 top Republican lawmakers say
▼ + stars: | 2023-09-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Rep. Virginia Foxx and Sen. Bill Cassidy asked the GAO to investigate the student-loan payment resumption. They said they're concerned loan servicers are not adequately prepared to facilitate repayment. The student-loan payment pause officially ended on September 1 when interest began accruing again on federal borrowers' balances, and bills will start becoming due next month. Additionally, Cassidy and Foxx said that it is "unclear whether borrowers will begin repayments when billing statements resume. In other cases, there will be borrowers who will take some time to work student loans back into their household budgets."

Persons: Virginia Foxx, Sen, Bill Cassidy, they're, Bill Cassidy —, —, Foxx, Cassidy, servicers, Education James Kvaal, Kvaal Organizations: Service, Office, Education, Education Department, GAO, Public Locations: Wall, Silicon

☆ Right-Wing House Republicans Derail Pentagon G.O.P. Bill, Rebuking McCarthy
▼ + stars: | 2023-09-19 | by ( Carl Hulse | More About Carl Hulse | ) www.nytimes.com time to read: +1 min

Deep Republican divisions erupted onto the House floor on Tuesday as a handful of far-right conservatives blocked a Pentagon spending bill from coming up for debate, dealing an embarrassing setback to Speaker Kevin McCarthy as he struggled to round up votes to prevent a government shutdown in less than two weeks. It left the chamber paralyzed for the moment, with little time before a Sept. 30 deadline to avert a government closure. Even if it could make it through the House, the temporary spending measure stood little chance in the Democratic-led Senate, where its combination of deep spending cuts and stringent border policies were seen as nonstarters. But the House’s inability to move on a stopgap plan further delayed any negotiations on Capitol Hill toward a bipartisan spending compromise. With none of the 12 annual spending bills passed, such a temporary bill will be needed to keep the government funded after next Friday.

Persons: Kevin McCarthy, McCarthy Organizations: Democratic

NASHVILLE, Tenn. (AP) — For nearly a week, families whose lives were upended by a Nashville elementary school shooting took turns sharing dark details to Tennessee lawmakers. Meanwhile, families have waded into the legislative process, uncovering and reliving personally painful details before lawmakers — privately, publicly or both — with mixed results. The inaction this year in Tennessee was markedly different than how Florida reacted five years ago to a massive school shooting. Parents offered similar pleas in Tennessee last month during a brief special legislative session called by Republican Gov. For many parents, it signaled they would likely retell and relive these dark moments for many more months, as they pledged to seek change next legislative session and in the 2024 statehouse elections.

Persons: —, ”, Melissa Alexander, reliving, “, Melissa Brymer, Marjory Stoneman, “ I’ve, Max Schachter, Alex, I’m, Kimberly Mata, Rubio, Lexi, ” Mata, Bill Lee, Jeremy Faison, Sarah Shoop Neumann, audibly, Chris Todd, Becky Hansen, sobbed, Abby McLean, ” McLean, ” Alexander, Paul Weber Organizations: Covenant School, Republican, General Assembly, Democratic, UCLA, Duke University National Center for, Florida's Republican, Marjory Stoneman Douglas High School, Parkland, Robb Elementary School, Texas Capitol, Texas House, Republican Gov, Capitol, Covenant, House Republicans, Senate, Associated Press Locations: Tenn, Tennessee, United States, Florida, Parkland, Texas, Uvalde, Austin , Texas

☆ The UAW is playing with fire. Jim Cramer says Ford could be forced to flip the script
▼ + stars: | 2023-09-18 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The United Auto Workers strike entered Day 4 on Monday, and both sides remained far apart on pay hikes. By striking Ford, the UAW is "playing with fire," according to Jim, who said the automaker might get tired of trying to appease union demands and just lock workers out. Ford CEO Jim Farley told CNBC last week that UAW demands would bankrupt the company. In addition to top-line pressure on its EV unit and companywide cost pressure from the UAW strike, Ford needs to work its way through this transition from high-profit ICE vehicles to the currently money-losing EVs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Ford, Jim Farley, Goldman Sachs, Tesla, Washington, Joe Biden, Biden, Jim Cramer's, Shawn Fain, Bill Pugliano Organizations: United Auto Workers, Ford, UAW, Detroit, Plant, Bronco, Ford's, General Motors, Chrysler, GM, CNBC, White House, Getty Locations: Michigan, Wayne, Wentzville , Missouri, Toledo , Ohio, U.S, Mexico, Detroit, Detroit , Michigan

☆ Singtel discusses its data center expansion plans
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingtel discusses its data center expansion plansInvestment firm KKR is set to acquire a 20% stake in Singtel's regional data center unit for $807 million. Bill Chang, CEO of Singtel's infrastructure unit, discusses the deal.

Persons: Bill Chang Organizations: Investment, KKR

☆ Stellantis could close 18 facilities under UAW deal — here are the full details of its latest offer
▼ + stars: | 2023-09-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Stellantis said the facility would "continue to be our North American headquarters and North America technical center." It's not guaranteed the facilities would close under a labor deal; however, Stellantis is required to include potential closures or sales of any location where a UAW member works, a company source said. Stellantis North American Chief Operating Officer Mark Stewart, who is overseeing the UAW talks, said the company needs to "modernize" the Mopar facilities. Stewart, without disclosing details of the plan, described the company's proposal for Belvidere as a "very compelling offer." The Mopar facilities that could close include Atlanta PDC; Boston PDC; Centerline Warehouse & Packaging; Chicago PDC; Marysville PDC; Milwaukee PDC; New York PDC; Orlando PDC; Sherwood PDC; and Warren PDC.

Persons: Bill Pugliano, Stellantis, Jeff Kowalsky, It's, Mark Stewart, Stewart, Rich Boyer, Michael Wayland, Sen, Bernie Sanders, Boyer Organizations: United Auto Workers, UAW, Big, Getty, DETROIT, CNBC, Belvidere Assembly, Plant, Elliott, FCA, Technology Center, Afp, North, Detroit Free Press, Detroit, General Motors, Ford Motor, Cherokee, GM, Ford, CNBC UAW, U.S, Detroit automakers, Atlanta PDC, Boston PDC, Packaging, Chicago PDC, Marysville PDC, Milwaukee PDC, New York PDC, Orlando PDC, Sherwood PDC, Warren PDC Locations: Detroit , Michigan, U.S, Illinois, Belvidere, Indiana, Trenton, Michigan, Detroit, Stellantis, Auburn Hills , Michigan, North America, Arizona, Belvidere Assembly, Belvidere , Illinois, Belvidere —, Warren, Mich, Fishkill , New York, Macon , Georgia

☆ Cramer: The 4 fears that are upsetting the market and what needs to happen next
▼ + stars: | 2023-09-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

Nike, under CEO John Donahoe, continued its total dominance that it had under previous leaders Mark Parker and Phil Knight. I really, really like Starbucks CEO Laxman Narasimhan and we are going to see a very strong executive make decisions now that Howard is gone. Apple weakness just casts a pall over everything. We have had weakness in the banks on fears of more regulation and that's only getting worse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Let's, John Donahoe, Mark Parker, Phil Knight, It's, Armour, Nike's, Locker, Mary Dillon, Kevin Johnson, Howard Schultz, Schultz, Bob Iger, Robert Chapek —, Johnson, Chapek, Laxman Narasimhan, Howard, Gina Raimondo, Apple —, Stellantis, Joe Biden, Shawn Fain, Safra, Marc Benioff couldn't, LEN, Darden, it's, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Nike, Adidas, Armour, Dick's Sporting, China, Disney, Apple, Micron, Qualcomm, Starbucks, United Auto Workers, Detroit, —, Motors, Chrysler, Ford, walkouts, U.S, UAW, Oracle, Marriott, Booking Holdings, Federal, FedEx, KB, Jim Cramer's Charitable, CNBC, General Motors, Big, Getty Locations: China, Europe, American, United States, Oracle's, Detroit , Michigan

How to watch Sunday Night Football from anywhereIf you're in the US, Sunday Night Football airs on NBC stations nationwide promptly at 8:20 p.m. For $6.99 per month, NFL+ offers live streams for all local broadcasts and primetime games, including Sunday Night Football, Monday Night Football, and Thursday Night Football. Week 2: Dolphins vs. Patriots, Sept. 17 (NBC, $5.99 on Peacock)Week 3: Steelers vs. Chiefs, Sept. 24 (NBC, $5.99 on Peacock)Week 4: Chiefs vs. Jets, Sept. 24 (NBC, $5.99 on Peacock)Week 5: Cowboys vs. 49ers, Oct. 1 (NBC, $5.99 on Peacock)Week 6: Giants vs. Bills, Oct. 8 (NBC, $5.99 on Peacock)Week 7: Dolphins vs. Eagles, Oct. 15 (NBC, $5.99 on Peacock)Week 8: Bears vs. Chargers, Oct. 22 (NBC, $5.99 on Peacock)Week 9: Bills vs. Bengals, Oct. 29 (NBC, $5.99 on Peacock)Week 10: Jets vs. ET (NBC, $5.99 on Peacock)Week 12: Ravens vs. Chargers, Nov. 26 (NBC, $5.99 on Peacock)Week 13: Chiefs vs. Packers, Dec. 3 (NBC, $5.99 on Peacock)Week 14: Eagles vs. Cowboys, Dec. 10 (NBC, $5.99 on Peacock)Week 15: Ravens vs. Jaguars, Dec. 17 (NBC, $5.99 on Peacock)Week 16: Bengals vs. Steelers, Dec. 23 at 3 p.m.

Persons: We'll, Tua Tagovailoa, Bill Belichick's, Cris Collinsworth meshing, Mike Tirico, Melissa Stark, Terry McAulay, Peacock, You'll, ExpressVPN Organizations: NFL, Sunday, Dolphins, Patriots, Philadelphia Eagles, Football, NBC, NFL Network, NFL Films, NFL Shop, NFL Network ., Insiders, . Watch Dolphins, FL RedZone, . Patriots, . Chiefs, Chiefs, . Jets, Cowboys, 49ers, Giants, Bills, . Eagles, . Chargers, Bengals, Jets, . Raiders, Broncos, Seahawks, Ravens, Packers, . Cowboys, . Jaguars, Steelers, . Vikings Locations: United States, DAZN, China

☆ Rudy Giuliani 'may have been compromised' by the Kremlin, and FBI leaders didn't care, alleges special agent Johnathan Buma
▼ + stars: | 2023-09-16 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +10 min

Johnathan Buma says his FBI supervisors didn't care about his leads tying Giuliani to Russian intelligence. They are also investigating Hunter Biden for the firearm-related charges that he was indicted for this week. FBI didn't care about Giuliani's possible Kremlin ties, Buma says"Rudy Giuliani may have been compromised by individuals suspected of being involved in Russian counterintelligence influence operations," Buma told Insider. According to Buma's disclosure, an FBI Intelligence Information Report asserted that Fuks was "a co-opted asset of the RIS" or the Russian intelligence services. Hunter Biden left his laptop at a computer repair store in April 2019.

Persons: Johnathan Buma, Giuliani, Hunter Biden, Robert Mueller's Trump, Donald Trump's, Buma, Biden, Trump, Rudy Giuliani, Pavel Fuks, Fuks, Burisma, Hunter's, George Soros, Hunter Biden's, Bill Barr's, Geoffrey Berman, Bill Barr, Barr, Berman, he's, Amelia Kosciulek, we're, aren't, Mattathias Schwartz Organizations: FBI, Service, Los Angeles Field Office, Trump, GOP, of Justice, New York Post, Southern, of New, Washington Field Office, New York Field Office Locations: Russian, Wall, Silicon, Russia, Mar, Lago, Ukrainian, Moscow, Washington, Ukraine, Ukraine —, Delaware, of New York, Buma, schwartz79@protonmail.com

☆ Cash vs. stocks: The pros weigh in on where to invest for the rest of the year
▼ + stars: | 2023-09-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

"As cash yields remain elevated and inflation has cooled significantly from last year's levels, cash yields moved into positive territory on a real, inflation-adjusted basis after a few years of negative real yields," said Veronica Willis, global investment strategist at the firm. The pros weigh in on whether it's a good idea to stay in cash for the remainder of the year. Cash to 'outperform' stocks In a Sept. 7 note, Barclays said it believes cash will, in the fourth quarter, outperform stocks for a second straight quarter. So, for a second straight quarter, we prefer the company of cash over stocks and bonds," Barclays wrote, describing major asset classes as "still unattractive." "If short-term interest rates fall, short-term investments or cash investors will need to reinvest at a lower rate, reducing future returns.

Persons: it's, Veronica Willis, Cash, David Kostin, CNBC's, JPMorgan, Ray Dalio, Willis, Schroders, —, Balakrishner, Michael Bloom Organizations: U.S . Federal, Treasury, Fargo Investment Institute, Barclays, Billionaire, Bridgewater Associates, Milken Institute Asia Summit, Wells, Wells Fargo Investment Institute Locations: Fargo, U.S, Singapore, Wells Fargo

☆ Biden impeachment saga creates a wild new political twist in an unprecedented election
▼ + stars: | 2023-09-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Now, his proxies in the House GOP are effectively weaponizing an impeachment inquiry of Biden to try to again destroy Trump’s potential opponent in the next presidential election. Then-Vice President Biden attended two dinners with his son and his business associates in Washington, DC, although one of Hunter’s associates testified that no business was discussed. Biden’s political liabilitiesIn some ways, the White House has a political advantage. CNN’s White House team reported Wednesday that the administration had put into action a counter-impeachment plan even before McCarthy’s announcement. Video Ad Feedback James Carville wants Biden impeachment inquiry.

Persons: Joe Biden, Kevin McCarthy, McCarthy, Donald Trump, Biden, –, Biden corruptly, Trump, Volodymyr Zelensky, Zelensky, Vladimir Putin, Hunter Biden, Obama, Joe Biden’s, Hunter’s, Hunter, White, haven’t, That’s, — McCarthy, Nancy Pelosi, CNN’s Manu Raju, Ken Buck, CNN’s Anderson Cooper, ” Buck, it’s, There’s, Jim Jordan, Hillary Clinton, Libya –, hasn’t, CNN’s, Biden’s, James Carville, Bill Clinton, feverishly, “, I’ve, ” Biden Organizations: CNN, GOP, Biden, Trump, Republicans, Air Force, Democratic, Colorado Republican, Republican, White, Capitol, House, Republican House, White House Locations: Washington, Ukraine, Russian, China, Washington , DC, America, Congress, New York, Benghazi, Libya

☆ The GOP is moving forward with a bill that would force student-loan borrowers into 'payments they can't afford' by blocking Biden's new repayment plan, a top Democrat says
▼ + stars: | 2023-09-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans began marking up a bill that would overturn Biden's new SAVE income-driven repayment plan. Over 4 million borrowers are already enrolled in the plan, the Education Department said. In his opening statement during the markup, he said that the GOP bill would "undermine the economic security of millions of student borrowers." AdvertisementAdvertisement"With the return to student loan repayment underway, student loan borrowers and their families are already anxious," he said. Student-loan payments are resuming in October, and the Education Department has touted its SAVE plan as an option for borrowers who are worried about affording their monthly payments.

Persons: Bobby Scott, Joe Biden's, isn't, Biden, Sen, Bill Cassidy Organizations: Democratic, Education Department, Service, Republicans, Senate, GOP, SAVE, Republican Locations: Wall, Silicon

SANTA FE, N.M. (AP) — Friends and admirers of former Gov. Richardson's casket was scheduled to lie in state Wednesday in the rotunda of the New Mexico Statehouse astride a giant inlay of the New Mexico state seal and an ancient Zia Pueblo symbol of the sun. Richardson died in his sleep at his home in Chatham, Massachusetts, earlier this month at age 75. Political Cartoons View All 1154 ImagesFormer state House speaker Brian Egolf of Santa Fe witnessed Richardson's evolution from congressman to U.S. diplomat, Cabinet secretary and then state governor. Funeral services were scheduled for Thursday at Santa Fe's downtown Cathedral Basilica of St. Francis of Assisi.

Persons: Bill Richardson, Zia, Richardson, “, Miguel Trujillo, Brian Egolf, Egolf, ‘, ” William Blaine Richardson, Bill Clinton's, Francis of Assisi Organizations: SANTA FE, Gov, United Nations, New, New Mexico Statehouse, Tufts University, Democratic, Associated Press, St Locations: SANTA, New Mexico, Zia Pueblo, Chatham , Massachusetts, Santa Fe, Albuquerque, U.S, Pasadena , California, Mexico City, Mexican, American, Massachusetts, Iowa, New Hampshire, Navajo, Santa Fe's

☆ Insider Today: Automating away CEOs
▼ + stars: | 2023-09-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

Today is always a difficult day, particularly here in New York, as we remember the innocent lives lost 22 years ago. But the group that seems immune to those concerns — CEOs — is primed for being usurped by robots, writes Ed Zitron. Ed's argument is straightforward: CEOs get paid a lot despite not providing much value for their companies. For all the talk of CEOs being transformational leaders full of business ingenuity, many are nothing more than figureheads. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Rick Rescorla, Morgan Stanley, Rescorla, — Dan DeFrancesco, Arantza Pena Popo, —, Ed Zitron, Ed, they're, STAN HONDA, Bill Ackman, foresees, Elon Musk's, Sam Altman, Kevin Dietsch, Ryan Petersen, Flexport's, Apple's, Microsoft's, Chris Williams, he's, Joe Biden, Damar Hamlin, Joe's, Wilson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, TED, LinkedIn, nab, Bank, America, Wynn Resorts, Broadcom, Sun, Pentagon, & Museum, The New York Jets, Buffalo Bills, Bills, Oracle, Bovis Homes Locations: Wall, Silicon, New York, China, Alaska, Savanna, New York City, San Diego, London

☆ Student-loan borrowers' biggest defender in the government is in jeopardy
▼ + stars: | 2023-09-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

The ruling could have significant implications for student-loan borrowers — and consumers nationwide. As federal borrowers have been gearing up for the return to loan repayment in October, the agency cracked down on companies that it accused of illegally charging borrowers for normally free debt-relief services. The Supreme Court is hearing oral arguments on the case on October 3. The CFPB's enforcement actions against this type of illegal conduct are important to protecting borrowers' financial security and obtaining their money back." Now consumers will have to wait and see how the Supreme Court views a top federal consumer watchdog's constitutionality.

Persons: Sen, Elizabeth Warren of Massachusetts, Shahid Naeem, Naeem, Dodd, Frank Wall, Bill Clark, Devin Watkins, they're, beholden Organizations: Service, Supreme, Financial, Community Financial Services Association of America Ltd, Consumer Financial, Federal Reserve, Fifth Circuit, Trump, Fifth, Financial Services Association of America, American Economic Liberties, Congress, Frank Wall Street Reform, Consumer, Federal Deposit Insurance Corp, Inc, Getty, Competitive Enterprise Institute, American Association of, Social Security Locations: Wall, Silicon, Washington , DC

☆ Saudi Arabia wants to buy its way into a major 6th-gen fighter jet project, but not all its potential partners are welcoming
▼ + stars: | 2023-09-07 | by ( Paul Iddon | ) www.businessinsider.com time to read: +6 min

Saudi Arabia reportedly wants to join the effort, but Japan is said to be wary of letting Riyadh in. A senior British defense told The Financial Times that the UK views "Saudi Arabia as a key partner in the fighter program and we are working to ensure strong progress as soon as possible." AdvertisementAdvertisementJapan also fears Saudi Arabia might want to export the cutting-edge jet to adversaries, such as China and Russia, or use its veto power to prevent Tokyo from exporting it to one of its allies. Indonesia, for example, has joined South Korea's KF-21 Boramae project, which aims to produce a quasi-stealth fighter jet by the late 2020s. AdvertisementAdvertisementOn the other side of Asia, Azerbaijan recently joined Turkey's TF Kaan stealth fighter project.

Persons: Bill Bostock, milch, Shigeto Kondo, Pascal Rossignol, GCAP, Tempest, China's, Paul Iddon Organizations: Service, Global Combat Air Program, The Financial Times, Financial Times, Britain's Telegraph, Japanese Institute of, Eastern, Al, KF, Indo, Getty, South Korea's KF, Turkey's TF, JF, 51st Paris Air Show, REUTERS, Rafale Locations: Italy, Japan, Saudi Arabia, Riyadh, Wall, Silicon, Tokyo, British, London, Saudi, China, Russia, Jakarta, AFP, Indonesia, Asia, Azerbaijan, Ankara, Pakistan, Baku

☆ Americans Are Losing Faith in the Value of College. Whose Fault Is That?
▼ + stars: | 2023-09-05 | by ( Paul Tough | ) www.nytimes.com time to read: +2 min

Economists have a term for the gap that exists between the incomes of college graduates and high school graduates: the college wage premium. When employers want more college graduates, the premium goes up; when there is a surplus of college grads, the premium goes down. In theory, today’s sky-high college wage premium should mean a surge of young people onto college campuses, not the opposite. But as a measure of the true value of higher education, the college wage premium has one important limitation. Unlike the college wage premium, the college wealth premium looks at all your assets and all your debts: what you’ve got in the bank, whether you own a house, your student-loan balance.

Persons: Bill, Louis, you’ve, Louis — Lowell Ricketts, William Emmons, Ana Hernández Kent — Organizations: Federal Reserve Bank of St Locations: St

☆ NBA star Giannis Antetokounmpo spread his money across half a dozen bank accounts as a rookie because of the FDIC's $250,000 limit. Billionaire team owner Marc Lasry told him to invest instead.
▼ + stars: | 2023-09-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Silicon Valley Bank's implosion spotlighted the federal deposit insurance limit of $250,000. The cap led NBA star Giannis Antetokounmpo to open multiple bank accounts to protect his fortune. Billionaire investor Marc Lasry told the player to invest in US Treasuries and other assets instead. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. When Giannis Antetokounmpo first learned of the limit, he opened half a dozen bank accounts to protect his fortune.

Persons: Giannis Antetokounmpo, Marc Lasry, Antetokounmpo, Giannis, Lasry, Lionel Messi, LeBron James, Tom Brady, John Koudounis, Bill Ackman, Mark Cuban Organizations: NBA, Service, Bloomberg, Milwaukee Bucks, Bloomberg Wealth Summit, JPMorgan, Forbes, Deposit Insurance Corp, Signature Bank Locations: Wall, Silicon, Greece

☆ Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes
▼ + stars: | 2023-09-03 | by ( Dionne Searcey | Mira Rojanasakul | ) www.nytimes.com time to read: +19 min

UNCHARTED WATERS Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes When Minnesota farmers cranked up their wells in a drought, they blew through state limits. The location of the White Earth Reservation is also shown, in the upper left portion of the map. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. “There’s a lot of water in this area.”His farm is awaiting approval for two new state permits for irrigation wells.

Persons: Warren, Mike Tauber, they’ve, ”, Trevor Milbrett, Warren Warmbold, “, Mr, Warmbold, Offutt, Ellen Considine, don’t, Carlos Gonzalez, It’s, farming’s, Robert Glennon, John Nieber, Paul Minneapolis, Nieber, White, Jamie Konopacky, Allan Armstrong, Armstrong, Armstrong’s, Austin Tersteeg, Erskine, Tersteeg Organizations: R.D, Offutt, Minnesota Department of Natural, New York Times, Irrigation, Farmers, state’s Department of Natural Resources, United States Department of Agriculture, Department of Agriculture, Star Tribune, Getty, Park Rapids ., University of Minnesota, Twin, Paul Minneapolis Rochester Sandy, Paul Minneapolis, White, Department of Natural Locations: Lakes, Minnesota, R.D, Warren, Minn, Backus, Eagle Bend, United States, Midwest, Park Rapids, In Minnesota, North Dakota, America, Offutt, Twin Cities, Sandy, Duluth, Wells St, Cloud, Paul, Paul Minneapolis Rochester, Austin, Red Lake County

Bill Richardson, a longtime fixture of Democratic politics with turns as Energy Secretary and United Nations ambassador under the Clinton administration, died on Friday, the Richardson Center for Global Engagement said in a statement. There was no person that Governor Richardson would not speak with if it held the promise of returning a person to freedom,” Mickey Bergman, vice president of the Richardson Center, said in a statement. Richardson later served as US ambassador to the United Nations and secretary of energy before being elected governor of New Mexico in 2002. After an unsuccessful bid for the presidency in 2008, Richardson launched the Richardson Center for Global Engagement, a non profit promoting international peace, in 2011. He grew up in Mexico City, Mexico, leaving to attend boarding school in Massachusetts in 1960.

Persons: Bill Richardson, Clinton, Richardson, “, Mickey Bergman, ” Richardson, Frank Bradford Morse, Brittney Griner, Paul Whelan, Governor Richardson, Neda, “ Governor Richardson, Mexico Sen, Martin Heinrich, ” Heinrich, Barbara Richardson Organizations: CNN, Former New, Former New Mexico Gov, Energy Secretary, United Nations, Richardson Center, Global, Richardson, Massachusetts, US State Department, Senate Foreign Relations, House, New, “, Democratic, Tufts University, Tufts ’ Fletcher School of Law, Diplomacy Locations: Former New Mexico, Massachusetts, New Mexico, Moscow, Mexico, Pasadena , California, Mexico City

☆ A sunken World War 1-era wooden ship potentially the size of a football field was discovered in a Texas river by a man on a jet ski after severe drought revealed the wreckage
▼ + stars: | 2023-08-30 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

The wreckage turned out to belong to a large, wooden ship built during World War 1. The Texas Historical Commission said more than two dozen of these sunken ships are in Texas rivers. Milner sent photos of his find to the local Ice House Museum, which then contacted the Texas Historical Commission. AdvertisementAdvertisementTexas Historical Commission sonar data from 2019 showing the submerged hulls of two of the abandoned World War I vessels in the Neches River. The Texas Historical Commission said in a statement on Facebook that "the summer heatwave and low rainfall" revealed the hidden shipwreck.

Persons: Bill Milner, Milner, Sabine Rivers, Amy Borgens, Sabine, Borgens, Susan Kilcrease, Kilcrease Organizations: Texas Historical Commission, Service, Ice House Museum, The, The Texas Historical Commission, US Shipping Board Emergency Fleet Corporation, Facebook, Ice, US Shipping Board, Emergency Fleet Corporation, Texas Standard, . Texas Historical Commission, US Drought Monitor Locations: Texas, Wall, Silicon, The Texas, Sabine, Beaumont , Texas, . Texas, Beaumont

☆ Biden's student-debt relief plans will once again face GOP challenges when Congress returns this fall
▼ + stars: | 2023-08-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden formally launched the new income-driven repayment plan, known as the SAVE plan. "Just like Biden's student debt transfer scheme, this IDR rule is deeply unfair to the 87 percent of Americans who currently have no student loans and will now have to foot the bill for someone else's debt." Spokespeople for both lawmakers confirmed to Insider that they will introduce bills in the House and Senate to overturn the SAVE plan. Massachusetts Sen. Elizabeth Warren wrote on X, formerly Twitter, on Tuesday that "Biden's SAVE plan helps Americans with student debt by capping interest growth and lowering monthly payments. In addition to repayment reforms for borrowers, the Education Department is also in the process of implementing broad debt relief again using the Higher Education Act of 1965.

Persons: Biden, Foxx, Cassidy, Joe Biden's, Virginia Foxx, Sen, Bill Cassidy —, —, Massachusetts Sen, Elizabeth Warren Organizations: Service, Education Department, Politico, GOP, Senate, Higher Locations: Wall, Silicon, Massachusetts

☆ Meet Apollo, the ‘iPhone’ of humanoid robots
▼ + stars: | 2023-08-23 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

The design for Apptronik’s latest humanoid robot, named Apollo, was unveiled on Wednesday. Apollo is Apptronik's latest humanoid robot. Rather than highly specialized robots that can only serve one purpose, Apptronik wanted Apollo to be the “iPhone of robots,” Cardenas said. Courtesy ApptronikBefore Apollo, Apptronik focused on what it called a Quick Development humanoid robot. To the moon and beyondApptronik serves as one of NASA’s partners that works on humanoid robot designs.

Persons: Argodesign, Apollo, “, ”, Jeff Cardenas, Bill Stafford, ” Cardenas, Shaun Azimi, NASA’s, Cardenas, Apptronik, Nick Paine, ” Paine, Paine, ” Azimi, Artemis VI, Azimi Organizations: Austin , Texas CNN, Austin, University of Texas, NASA, JSC, DARPA, Space Center, International Locations: Austin , Texas, Houston, Australia, uncrewed, Apptronik

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