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☆ 'Don't panic' amid stock market volatility, advisor says. Here's why staying invested pays off
▼ + stars: | 2024-08-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Westend61 | Getty ImagesLoading chart...Panic selling can 'crater your portfolio'Some investors are prone to panic selling during periods of volatility and then often miss the stock market recovery with cash sitting on the sidelines, research shows. "The roller-coaster ride back up happens just as quickly," and missing recovery days "can crater your portfolio," said Baker, who is also a member of CNBC's Financial Advisor Council. To that point, missing the 20 best days in the stock market from Jan. 1, 2003, to Dec. 30, 2022, would have cut your total portfolio returns by more than half, according to J.P. Morgan. Ultimately, staying invested pays off long-term because "it's a loser's game" to try to time the market, Baker said. Your existing cash reserves, for example, can cover emergencies or provide funds to "take advantage of opportunities," he said.

Persons: Baker, Morgan, Douglas Boneparth Organizations: CNBC's, Bone Locations: New York

We’ve never in my lifetime changed candidates this late in the game,” West said, pausing as she left a Harris campaign office to pick up a new packet of door-knocking materials. “There is a lot of excitement around Vice President Harris, actually. However, despite the preparations, Trump’s campaign has yet to find its footing on a consistent message about the vice president. Outside the campaign, Trump’s allies worry there is no strategy for what is now a competitive race. Vice President Kamala Harris speaks at a gathering of the Sigma Gamma Rho sorority in Houston on July 31, 2024.

Persons: Donald Trump’s, Joe Biden, Trump, Biden, Kamala Harris, Ohio Sen, JD Vance, Harris –, Harris, –, ”, “, ” Trump, pollster John McLaughlin, ” McLaughlin, Harper, “ I’ve, We’ve, ” West, President Harris, Joe Lamberti, ” Harris, Rachel Scott, Scott Olson, it’s, Barack Obama, Trump’s, Steven Cheung, “ He’s, Brandon Bell, Trump –, Harris didn’t, ” Rev, Charles Williams, I’m, ’ ” Williams, he’s, Donald Trump, She’s, Carolina Sen, Lindsey Graham, she’s, Vance, Anna Moneymaker, Tucker Carlson’s, they’ve, Alaska Sen, Lisa Murkowski, Schouten, Kate Sullivan, Jeff Zeleny, Steve Contorno, Manu Raju, Morgan Rimmer, Danya Gainor, Lauren Fox Organizations: CNN, Republican, Republican Party, Trump, GOP, National Association of Black Journalists ’, Biden, Harris, Getty, Democrats, Democratic, Democratic Party, ABC, Fox News, Senior Trump, ABC News, National Association of Black Journalists, Indian, Sigma Gamma Rho, Air Force, White, Sigma Gamma Rho sorority, Historic King Solomon Baptist Church, ”, Senate, Capitol Locations: Milwaukee, Chicago, India, Jamaica, Oakland County , Michigan, Harrisburg , Pennsylvania, AFP, Trump, New York, Georgia, Butler , Pennsylvania, Harris, Atlanta, United States, North Carolina, Houston, Detroit, ”, Carolina, Sierra Vista , Arizona, Alaska, Mexico, Arizona, Ohio, California

Vice President Kamala Harris had a secret weapon on hand as she worked the phones in the hours after President Biden dropped his re-election bid and endorsed her. Tony West, her brother-in-law and the chief legal officer at Uber, was with Ms. Harris in the vice president’s residence when she received the news, and he spent the afternoon helping her reach out to would-be supporters. Since that Sunday, Mr. West has emerged as a major force behind Ms. Harris’s campaign and its record-setting fund-raising, but also as a concern for some progressives who want her to take a hard line against big business. Ms. Harris’s campaign brought on several senior political operatives on Friday, some of whom worked on former President Barack Obama’s campaigns, to add to the team that had been assembled to re-elect Mr. Biden. But none has the advantage of family ties like her brother-in-law, who has held top positions in the Justice Department and corporate America while advising Ms. Harris’s campaigns since she ran for San Francisco district attorney in 2003.

Persons: Kamala Harris, Biden, Tony West, Harris, Uber, West, Harris’s, Barack Obama’s, Mr Organizations: Justice Department, San Locations: America, San Francisco

☆ Olympics recap: What you missed in swimming, gymnastics, track and field, and more
▼ + stars: | 2024-08-03 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

We saw legends in their sport add to their gold-medal counts, thrilling finishes on the track and much more. Track and FieldRacing in her first Olympics after being ruled ineligible for the Tokyo Games, USA’s Sha'Carri Richardson won silver in the women’s 100-meter finals Saturday. Richardson won gold in the same event at the World Athletic Championships in Budapest last year. And on the field, American Ryan Crouser won his third straight gold medal in the men’s shot put. He hurt the ulnar nerve in his throwing elbow before tearing his pectoral muscle leading up to the Olympics.

Persons: USA’s Sha'Carri Richardson, Lucia’s Julien Alfred, Melissa Jefferson, Jamaica’s Shelly, Ann Fraser, Price, didn’t, Richardson, Femke Bol, Bol, Ryan Crouser, John Kovacs, Rajindra Campbell, Crouser, ”, Denis, Ben Stansall, Simone Biles, It’s, ” It’s, she’ll, “, ” Biles, USA's Jade Carey, Carey, “ We’ve, ” Carey, Stephen Nedorosick, Guy, Clark Kent, Glen Powell, Nedoroscik, ” Nedoroscik, Katie Ledecky, Ledecky, Titmus, Paige Madden, Alex Walsh, Walsh, Canadian Summer McIntosh, Kate Douglass, Australia’s Kaylee McKeown, ” Douglass, Trinity Rodman, Crystal Dunn, ” Rodman, Emma Hayes, What’s, Noah Lyles, Jamaica’s Kishane Thompson, Carlos Alcaraz, Novak Djokovic Organizations: Racing, Tokyo Games, St, World Athletic, Paris Games, Getty, Tokyo, Canadian, U.S Locations: Lucia, Budapest, Tokyo, Netherlands, Paris, America, Belgium, Rio, Saint, AFP, Los Angeles, Germany

Two “Saturday Night Live” cast members who made history when they were hired have announced their exits from the sketch comedy show. Punkie Johnson, who joined “SNL” as a featured player in 2020, was the first out Black queer woman on the show’s cast. Danitra Vance, a Black lesbian who was a cast member on “SNL” in the mid-1980s, was not out publicly when she was on the show. Molly Kearney was SNL’s first ever nonbinary cast member. They joined the sketch comedy show in 2022.

Persons: Punkie Johnson, Kate McKinnon, Bowen Yang, Danitra Vance, Molly Kearney, SNL’s, Johnson, wouldn’t, “, ” Johnson, “ Bro, ”, Kearney, ” Kearney, Fern Dannely Organizations: SNL, Brooklyn’s, “ Space Force, NBC News, Disney, Ducks Locations: New Orleans, Los Angeles, Cleveland, Amazon’s

☆ Finding cheap birth control is becoming harder for many in states with abortion bans
▼ + stars: | 2024-08-03 | by ( Kaitlin Sullivan | Kaitlin Sullivan Is A Contributor For Nbcnews.Com Who Has Worked With Nbc News Investigations. She Reports On Health | Science | ) www.nbcnews.com time to read: +8 min

A renewed spotlight on protecting access to birth control may not help women who are already struggling to find affordable contraception in some states with the strictest abortion laws. Few community clinics have the amount of money needed to cover birth control each month, McCollum said. But over-the-counter birth control pills haven’t reached many women in rural areas. Because of the Texas policy change an estimated one-quarter of family planning clinics in the state closed by 2013. “If someone does not have insurance, we can pay for their visit and their birth control method,” McCollum said.

Persons: Robin Marty, ” Marty, Court’s Dobbs, Roe, Wade, Kate McCollum, McCollum, “, Adek Berry, haven’t, ”, Marty, Jitoria Hunter, It’s, ” McCollum, ” Hunter, Micaela Sanchez, it’s, Sanchez, ” Sanchez, Meta Anderson, ” Anderson Organizations: Healthcare, Medicaid, Getty, and Drug Administration, Target, Walmart, Walgreens, CVS, Center for Healthcare, Mississippi Delta Locations: Tuscaloosa , Alabama, Alabama, Southern, Mississippi, Texas, Dallas . Federal, AFP, ” In Mississippi, Tennessee, Alabama , Mississippi, Louisiana , Arkansas, Oklahoma, In Texas, In Mississippi, Alabama , Texas, Dallas County, Dallas, Louise , Mississippi, Georgia

☆ Tulsa Creates Commission on Reparations for Race Massacre
▼ + stars: | 2024-08-03 | by ( Kate Selig | ) www.nytimes.com time to read: +2 min

City officials, historians and the courts acknowledge that the massacre has led to generations of racial inequity in Tulsa. Calls for reparations in Tulsa are longstanding and have resulted in apologies, a scholarship program and other actions, but not direct financial redress. The last two known survivors of the massacre, now centenarians, have pursued reparations through the courts, but the Oklahoma Supreme Court dismissed their case in June. Two reports — one from a commission created by the State Legislature in 2001 and one by a group of Tulsa residents in 2023 — recommended reparations, including financial compensation. The commission announced Thursday, named the Beyond Apology Commission, follows the 2023 report’s calls for the city to create a group to examine and carry out a reparations program.

Persons: Greenwood, —, G.T, Bynum Organizations: Oklahoma Supreme, State Legislature, Republican Locations: Tulsa, Oklahoma

☆ In a tricky box office summer, how can indie cinemas survive?
▼ + stars: | 2024-08-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —For 90-plus years, the Parkway Theater has been a fixture in South Minneapolis, gathering generation after generation of patrons in front of its lone movie screen. The Parkway Theater of today is one part revival house cinema, one part performing arts venue, and another part community event space. Parkway Theater owners Ward Johnson (left) and Eddie Landenberger in the theater lobby in Minneapolis on July 8. Moviegoers at a drive-in movie theater in the parking lot of the Rose Bowl in Pasadena, California, on September 3, 2020. Still, cinema operators have to be cautious in their approach, said Kate Markham, administrative coordinator with Art House Convergence, a coalition of independent, community-oriented cinemas.

Persons: David Hancock, Omdia’s, “, ” Hancock, “ Young Frankenstein ”, moviegoing, ”, Ward Johnson, Eddie Landenberger, Christian Meoli, —, Ricard Gil, Michael Tullberg, ” Gil, “ Barbie, Ward, Alicia Wallace, ” Johnson, ” Andrew Sherburne, “ We’re, Meoli, there’s, showmen, Bing Guan, ’, Bill Campbell, showmen ”, Rich Daughtridge, they’ll, ” Campbell, Kate Markham Organizations: Minneapolis CNN —, Parkway, CNN, Omdia, Theater, Cinelounge, Wim, Queen’s University, Disney, El Capitan Theatre, Hollywood, Global Entertainment, Media, Blockbuster, Rose Bowl, Bloomberg, Independent Cinema Alliance, Orpheum, ICA, Art, cineplex Locations: Minneapolis, South Minneapolis, London, California, Canada, Los Angeles , California, —, Iowa City , Iowa, That’s, Tiburon , California, Pasadena , California, Covid, Sheridan , Wyoming, Maryland

☆ What to watch at Olympics today: Sha’Carri Richardson, Simone Biles, Katie Ledecky — and so much more
▼ + stars: | 2024-08-03 | by ( Lukas Weese | ) www.nytimes.com time to read: +8 min

ET, 5:16 p.m. in Paris (men’s pommel horse)TV: NBC and PeacockWhat to watch: Biles continues her gold medal aspirations when she competes in the individual vault competition. Biles enters the vault competition as the leader from qualifying after posting a 15.3. The Canadiens, reigning gold medal winners, needed to win all three matches to get through — and they did. GO DEEPER Ledecky becomes most decorated U.S. female OlympianCanadian Summer McIntosh eyes her third Olympic gold at just 17 years old. With a win Saturday, Crouser would be the first male shot putter to win three Olympic gold medals.

Persons: We’ve, Sha’Carri Richardson, Simone Biles, Stephen Nedoroscik, Katie Ledecky’s, —, Nedoroscik, Biles, Jade Carey, Rebeca Andrade, Nedoroscik —, Ireland’s Rhys McClenaghan, Peter Vidmar, It’s, Richardson, Jamaica’s Shericka Jackson, Jamaica’s Shelly, Ann Fraser, Pryce, Sha'Carri Richardson, Mallory Swanson, Alex Livesey, Sophia Smith, Trinity Rodman dazzled, Emma Hayes ’, Hayes, Davidson, Shaw, Ledecky, American Paige Madden, Ariarne, McIntosh, American Kate Douglas, Douglass, Crouser, Ryan Crouser, American Joe Kovacs, Germany’s Leo Neugebauer, Michael Steele, Damian Warner, Kevin Mayer of, Pierre LePage, Leo Neugebauer, Ayden Owens, Sander Skotheim, Franz Wagner, Orlando, Wagner, Andrej Isakovic Organizations: Paris Olympics, NBC, U.S, USA, Stade de France, Getty, United, Olympic, Canada, FIFA, New Zealand, Canadiens, Spain, Canada Soccer, La Defense, Ledecky, Kevin Mayer of France, Puerto Rico Locations: Paris, American, Sha'Carri, USWNT, Canada, women’s, United States, Japan, Germany, U.S, Colombia, France, Brazil, Los Angeles, Tokyo, Puerto, Norway, AFP

☆ A millennial transformed a house into her pink '90s dream home with a movie theater and arcade. Now she has to sell.
▼ + stars: | 2024-08-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. She's painted her front door and shutters pink, and placed pink flamingo figurines on either side of the path that leads to it. This story is available exclusively to Business Insider subscribers. AdvertisementShe asked to be referred to by her social-media name for privacy reasons, but Business Insider has verified her identity. But when another supplier started selling a suspiciously similar version of her cup-holder purses on Amazon, Gabrielle started struggling financially.

Persons: —, Kate Gabrielle, She's, Instagram, Gabrielle, she's, It's, I've Organizations: Service, Business Locations: Hamilton , New Jersey, Trenton

☆ What to watch this weekend at the Paris Olympics
▼ + stars: | 2024-08-02 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +10 min

Paris CNN —The first week of the 2024 Summer Olympics is very nearly in the books and business is about to pick up. Richardson comes into Paris looking to prove she is the fastest woman in the world. Track and field heats upAn overview shows athletes competing in the women's 5000m heat of the athletics event at the Paris 2024 Olympic Games at Stade de France in Saint-Denis, north of Paris, on August 2, 2024. Antonin Thuillier/AFP/Getty ImagesThe star of the second week of the Summer Olympics, track and field competition takes the stage this weekend. Mixed 4x100m medley relay, featuring the American team of Regan Smith, Charlie Swanson, Dressel and Abbey Weitzeil.

Persons: Paris CNN —, Simone Biles, Biles, she’s, She’s, ‘ I’m Simone Biles, ”, Noah Lyles, Sha’carri Richardson, Richardson, Jamacia’s Kishane Thompson, Thompson’s countryman, Usain Bolt, Lyles, Sha'Carri Richardson, Australia's Bree Masters, Canada's Jacqueline Madogo, Denis, Jewel Samad, Xander Schauffele, Japan’s Hideki Matsuyama, Jon Rahm, Great, Tommy Fleetwood, Rory McIlroy, Scottie Scheffler, Schauffele, hasn’t, Sophia Smith, Pascal Guyot, Trinity Rodman, Rose Lavelle, Alyssa Naeher, LeBron James, –, it’s Jose Alvarado, James, Pierre, Sameer Al Doumy, Antonin Thuillier, Katie Ledecky, Bradley Kanaris, Caeleb Dressel, Kate Douglass, Alex Walsh, Summer McIntosh, Paige Madden, Ariarne Titmus, Regan Smith, Charlie Swanson, Dressel, Gretchen Walsh, Sarah Sjoestroem, Bobby Finke Organizations: Paris CNN, Olympic Games, Tokyo Olympics, Stade de France, Games, Paris, Getty, Le National, PGA, British, Women’s National, Japan, women’s, Marseille, US, Serbia, Puerto Ricans, USA, Belgian, FIBA’s, Summer, Paris La Defense Locations: Paris, France, American, Spring , Texas, Lyles, Saint, AFP, Tokyo, Australia, USA, Marseille, New Zealand, Japan, Sudan, Puerto Rico, Puerto, South Sudan, Mauroy, Villeneuve, d'Ascq, Belgium, Germany, Barcelona, Nanterre, Swedish

U.S. Vice President Kamala Harris and second gentleman Douglas Emhoff descend from Air Force Two in Wilmington, DE, U.S., July 22, 2024. Vice President Kamala Harris' personal financial records are under fresh scrutiny now that she is running for the highest office in the United States. Experts say recent tax filings show she and her husband, Second Gentleman Douglas Emhoff, have largely kept their finances simple during her years as vice president. Yet that approach may have cost the couple as they left unclaimed tax savings through additional deductions, as well as other missed financial strategies. Harris' office did not respond to a request for comment by press time.

Persons: Kamala Harris, Douglas Emhoff, Second, Craig Hausz, Harris, Emhoff, Medicare Harris, doesn't, she'll, Carolyn McClanahan, McClanahan, Catherine Valega, Valega Organizations: Air Force, CMH Advisors, Finance, Social Security, Medicare, Planning Partners, CNBC FA, Green Bee Locations: Wilmington , DE, United States, Dallas, Jacksonville , Florida, Boston

☆ Trump’s political operation says it raised nearly $139 million in July
▼ + stars: | 2024-08-01 | by ( Fredreka Schouten | Kate Sullivan | ) edition.cnn.com time to read: +1 min

CNN —Donald Trump’s campaign said Thursday that its political operation raised $138.7 million in July for the former president’s election effort – and amassed $327 million in cash reserves for the roughly three-month sprint to the election. Trump’s total represents a jump from June, when the former president’s campaign and aligned committees reported bringing in nearly $112 million. But the July total was dwarfed by the fundraising haul of his newly minted Democratic rival, Vice President Kamala Harris, whose campaign said it raked in a whopping $310 million in its July fundraising efforts. In a short statement, the Trump campaign said that the total reflected “continued momentum with donors” and that the large stockpile of campaign dollars ensures Trump would have the resources to prevail on Election Day. Presidential campaigns will file the full details of their July fundraising and spending later this month.

Persons: Donald Trump’s, –, Kamala Harris, Joe Biden, Harris, Trump Organizations: CNN, Democratic, White, Trump

☆ How to survive Phoenix heat: Icy body bags and mobile coolers
▼ + stars: | 2024-08-01 | by ( Bill Weir | ) edition.cnn.com time to read: +8 min

“Buy the bigger ice machines,” Phoenix Fire Captain Robert McDade tells emergency managers who call for advice from around the world. “Be willing to change what you’ve done.”An unhoused man finds little respite from the heat in the shade of a bus stop in Phoenix. Phoenix first responders are stocking body bags filled with ice to treat victims of heat stroke, bringing their core body temperature down on the way to the hospital. Julian Quinones/CNNFirst responders at Fire Station 61 are treating more victims of heat illness as temperatures soar in Phoenix. Every summer we learn, and we improve.”A heat respite center at Burton Barr Central Library just north of downtown Phoenix.

Persons: it’s, Coroners, “, Robert McDade, Julian Quinones, CNN McDade, McDade, ”, ” McDade, John Prato, Kate Gallego, we’ve, ” Gallego, didn’t, Evelio Contreras, Katie Hobbs, Eugene Livar, Arizona’s, there’s, Jennifer Vanos, Vanos, MaRTy ”, CNN Evelio Contreras Organizations: CNN, Phoenix, Harvard, Phoenix City Council, Burton Barr Central Library, CNN Arizona, Arizona State’s School of Sustainability, Vanos Locations: Phoenix, Maricopa County, Chicago, Albuquerque, Arizona, ”

☆ 4 Key Takeaways From The Times’s Reporting on Spending at GLAAD
▼ + stars: | 2024-08-01 | by ( Emily Steel | ) www.nytimes.com time to read: +1 min

The New York Times reviewed dozens of expense reports and receipts from January 2022 through June 2023, as well as employment agreements, tax filings, audit reports and other financial documents to detail a pattern of lavish spending at the nonprofit organization GLAAD, one of the country’s leading L.G.B.T.Q. advocacy groups. Such perks, luxurious business travel and large pay packages might be commonplace at a for-profit company. But legal experts said they were inappropriate for a nonprofit organization with about 60 employees that, in exchange for being exempt from federal and state taxes, must ensure that executive pay is reasonable and aligned with the charity’s mission and the intent of donors. The spending, much of it by GLAADs chief executive Sarah Kate Ellis, may have violated the organization’s own policies as well as Internal Revenue Service rules, the Times reporting shows.

Persons: Sarah Kate Ellis Organizations: New York Times, GLAAD, Revenue Service

☆ The expanded child tax credit failed in the Senate. Here's what it means for families
▼ + stars: | 2024-08-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Senate Republicans on Thursday blocked legislation that would have expanded the child tax credit, a key tax break for millions of families. He said that Senate Republicans have concerns about the policy, but are willing to negotiate a "child tax credit solution that a majority of Republicans can support." If enacted, the bill would have improved access to the child tax credit and retroactively boosted the refundable portion for 2023, which could have triggered refund checks from the IRS. Eligible families could have seen an average tax cut of $680 for 2023 taxes, based on estimates from the Urban-Brookings Tax Policy Center. But expanding the child tax credit is still a "top priority for Democrats," particularly as the 2025 tax cliff approaches, he said.

Persons: Chuck Schumer, Mike Crapo, Harris, Joe Manchin, Bernie Sanders, Chuck Marr Organizations: Republicans, Senate Finance, Finance, Fed, Budget, Urban, Brookings Tax, House Republicans, Center Locations: Idaho, Sens

☆ Wayfair CEO likens home goods slowdown to 2008 financial crisis: 'Customers remain cautious'
▼ + stars: | 2024-08-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

The first Wayfair brick-and-mortar store prepares to open on May 02, 2024 in Wilmette, Illinois. Online home goods company Wayfair saw sales decline in its fiscal second quarter as its CEO likened the current slowdown in the home goods category to the 2008 financial crisis. "Our credit card data suggests that the category correction now mirrors the magnitude of the peak to trough decline the home furnishing space experienced during the great financial crisis," Wayfair CEO Niraj Shah said in a news release. "Customers remain cautious in their spending on the home." The company saw adjusted EBITDA of $163 million during the quarter, still below the $168 million that Wall Street had expected, according to StreetAccount.

Persons: Niraj Shah, tailer, Wayfair, they've, Kate Gulliver, Jerome Powell, Shah Organizations: LSEG, CNBC Locations: Wilmette , Illinois

☆ Wingstop CEO on earnings: Same stores sales were driven primarily by transaction growth
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWingstop CEO on earnings: Same stores sales were driven primarily by transaction growthWingstop CEO Michael Skipworth and CNBC's Kate Rogers join 'Power Lunch' to discuss the fast food companies' earnings results and consumer trends.

Persons: Michael Skipworth, Kate Rogers

Jenny Hunnicutt poses in front of the Royal Caribbean Ultimate World Cruise, which she's been on for nearly nine months traveling the world. As a U.S. citizen or permanent resident, you incur U.S. income taxes on "worldwide income," whether you're making money from a ship or another country. Gifts can become 'taxable income'For some self-employed cruise passengers, income could come in different forms. Joe Martucci, another passenger on the ship, is a certified public accountant who lived abroad for 16 years. Retired CPA Joe Martucci poses for a photo in Montenegro, a stop on the Royal Caribbean Ultimate World Cruise.

Persons: Jenny Hunnicutt, she's, Hunnicutt, Jane Mepham, Mepham, Joe Martucci, He's, Martucci Organizations: Royal, Financial Locations: Florida, Bahamas, Austin , Texas, Montenegro, Australia

☆ A Pattern of Lavish Spending at a Leading L.G.B.T.Q. Nonprofit
▼ + stars: | 2024-08-01 | by ( Emily Steel | ) www.nytimes.com time to read: +1 min

A light rain fell at the Zurich airport one Sunday morning in January 2023 as Sarah Kate Ellis made her way from a seat in Delta’s most exclusive cabin to a waiting Mercedes. It was there to chauffeur her to the Swiss Alps, where she and her colleagues would stay at the Tivoli Lodge, a seven-bedroom chalet that cost nearly half a million dollars to rent for the week. Ms. Ellis, who was en route to the World Economic Forum in Davos, doesn’t run a Wall Street bank or a high-flying tech start-up. She is the chief executive of the nonprofit organization GLAAD, one of the country’s leading L.G.B.T.Q. The trip was part of a pattern of lavish spending at GLAAD, much of it by Ms. Ellis, that may have violated the organization’s own policies as well as Internal Revenue Service rules.

Persons: Sarah Kate Ellis, Mercedes, Ellis, doesn’t Organizations: Economic, GLAAD, The New York Times, Revenue Service Locations: Zurich, Delta’s, Swiss, Davos

Donald Trump participates in a question and answer session at the National Association of Black Journalists (NABJ) convention at the Hilton Hotel in Chicago, Illinois on July 31. Getty ImagesFormer President Donald Trump, the Republican presidential nominee, drew gasps on Wednesday when he said at the National Association of Black Journalists convention that Vice President Kamala Harris, the presumptive Democratic nominee, had suddenly adopted a Black identity. Trump claimed: “I’ve known her a long time, indirectly, not directly very much, and she was always of Indian heritage, and she was only promoting Indian heritage. Harris graduated in 1986 from Howard University, a historically Black institution where she was a member of a historically Black sorority. After that, she was elected president of the association of Black law students in her second year at the University of California, Hastings College of the Law, according to her 2019 memoir.

Persons: Donald Trump, Kamala Harris, Harris ’, Trump, “, Harris, –, ” Trump’s, ’, ” Organizations: National Association of Black Journalists, Hilton Hotel, Getty, Republican, Democratic, Howard University, University of California, Hastings College of the, Politico, Hastings Law, San Locations: Chicago , Illinois, Jamaica, India, Indian, San Francisco

☆ Starbucks shares rally despite revenue miss, same-store sales fall again
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks shares rally despite revenue miss, same-store sales fall againCNBC's Kate Rogers reports on news from Starbucks' quarterly earnings results.

Persons: CNBC's Kate Rogers Organizations: Starbucks

Elijah Nouvelage | Afp | Getty ImagesHow the LIFT Act could look todaySince the LIFT Act was first proposed in 2018, the cost of living has only skyrocketed, hitting working-class Americans especially hard. However, funding such a tax credit now could be tough amid growing concerns over the federal budget deficit. The advantage of the LIFT tax credit, said D'Acunto, is that it doesn't create the same market distortions the rent cap would ignite. Child tax credit is a 'huge priority' for DemocratsLIFT was first proposed years before Congress temporarily expanded the child tax credit during the Covid-19 pandemic, which could now be a bigger priority, experts say. Harris described the child tax credit changes as one of the "most important" and "most impactful" parts of the legislation in a 2021 speech.

Persons: Kamala Harris, Elijah Nouvelage, Tomas Philipson, Joe Biden's, Laura Veldkamp, Harris, Donald Trump, Francesco D'Acunto, Biden, Karl Widerquist, Jacob Channel Organizations: Democratic, Afp, Getty, White House Council, Economic Advisers, CNBC, Columbia University Business School, Georgetown University, D'Acunto, Federal, Plus, American Rescue Plan, Columbia University, . Census Locations: Atlanta , Georgia, Atlanta

Roy Cooper has taken himself out of consideration to be Vice President Kamala Harris’ running mate, according to two sources familiar with the discussions, in a sign that the accelerated search has entered a new phase. A decision could come within a week, two people familiar with the matter said, with Harris’ goal to make an announcement before August 7. She intends to have private conversations with top contenders, sources said, but it was unclear whether those discussions have started. Cooper, whose friendship with Harris dates back to their time serving as the attorneys general of their respective states, was also the oldest candidate under consideration. His age, 67, was seen by some Democrats to be at odds with Harris’ push for a vigorous and younger ticket, the sources said.

Persons: Roy Cooper, Kamala Harris ’, Harris ’, Cooper, Harris, Mark Robinson, Josh Shapiro, Arizona Sen, Mark Kelly, Tim Walz, Andy Beshear, Pete Buttigieg Organizations: North Carolina Gov, Republican, Pennsylvania, Arizona, Minnesota Gov, Kentucky Gov, CNN Locations: Kentucky

☆ Goldman likes this retailer as lower-income consumers seek value
▼ + stars: | 2024-07-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Goldman Sachs is staying bullish on Dollar General as spending trends of lower-income consumers and increasingly come into focus. Analysts led by Kate McShane reiterated her buy rating on the discount retailer in a note on Monday. Goldman argues that consumer sentiment toward the company, and cash flow trends inside Dollar General, are improving. DG YTD mountain Dollar General shares in 2024. Consumer perception data shows that sentiment toward Dollar General is becoming more positive across various income groups, with customers more likely to recommend the budget retailer, the analyst noted.

Persons: Goldman Sachs, Kate McShane, Goldman, McShane, CNBC's Michael Bloom Organizations: Dollar

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