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☆ Moody's downgrades Egypt deeper into junk territory
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo Acquire Licensing RightsOct 5 (Reuters) - Moody's on Thursday downgraded Egypt's credit rating by a notch to 'Caa1' from 'B3', citing the country's worsening debt affordability. Egypt has been facing an economic crisis with record inflation and a chronic foreign currency shortage, and a borrowing spree over the last eight years has made external debt repayments increasingly onerous. "Moody's expects the materialization of asset sale proceeds at the central bank to help restore the economy's foreign currency liquidity buffer," the credit rating agency said, placing Egypt's outlook at 'stable'. Egypt has imposed import restrictions to remedy the shortage of foreign currency, while at least two national banks have suspended the use of Egyptian pound debit cards outside the country to stop a drain on foreign currency.

Persons: Amr Abdallah Dalsh, Moody's, Sri Hari, Shinjini Organizations: REUTERS, International Monetary Fund, Sri, Thomson Locations: Cairo, Egypt, Bengaluru

☆ Great news — social media is falling apart
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

And I'm not alone: People are spending less and less time on social media. But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. Studies have found that news overload from social media can cause stress, anxiety, fatigue, and lack of sleep.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Massachusetts Amherst, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Welcome to the Great Internet Splintering
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. The fatigue I have felt is therefore partly fueled by another, more-pressing concern: Which social network should I bank on? But until it emerges, I expect to continue living a splintered and nomadic online social life.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Michigan, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Goldman Sachs says China's demand for oil and copper is 'booming'
▼ + stars: | 2023-10-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

China's demand for many major commodities has been growing at "robust rates," Goldman Sachs said in a recent note. The investment bank observed that China's demand for copper has risen 8% year on year, while appetite for iron ore and oil are up by 7% and 6%, respectively, all beating Goldman's full-year expectations. "This strength in demand has largely been tied to a combination of strong growth from the green economy, grid and property completions," the Goldman report observed. While China's embattled property sector is still struggling to recover, the investment bank noted that China's green economy has shown "significant strength" so far this year, resulting in a demand surge for metals related to the green transition, such as copper. Goldman's economists attributed China's green copper rush largely to its onshore solar installations, which in 2023 so far have "amounted to the level of all previous years' installations."

Persons: Goldman Sachs, Goldman's, Goldman Locations: Daqing, Heilongjiang province, China

☆ A night inside a strip club near Ukraine’s front lines
▼ + stars: | 2023-10-02 | by ( Anna Conkling | ) www.businessinsider.com time to read: +19 min

By mid-afternoon, nine women have gathered around the dance pole at Flash Dancers, the only women-owned exotic dance club in Kharkiv. Valerii Kseniya, Flash Dancers' co-owner, in an undated photograph from her career as a professional dancer (left), and in July 2023. Iva Sidash for InsiderWhen Dana first joined Flash Dancers, Valeriya said, she was shy, silent, and not open to speaking with the team. Iva Sidash for InsiderOver the past year, several soldiers who were regulars at Flash Dancers have been killed in the fighting. Iva Sidash for InsiderThe evening at Flash Dancers could serve as a microcosm of Ukraine's tentative but determined return to normality.

Persons: Valeriya Zavadskaya, Christina Aguilera's, bam, Iva Sidash, Valeriya, Cher, proprietorship, Volodymyr Zelenskyy, Valeriya's, Valeriia Kseniya, Kseniya, Valerii Kseniya, —, Valeriya's lapdogs, Sara, Lady —, grimly, Dana, hasn't, they're, Gyrating, doesn't, they've, Yurii Tryfan, Yevgeny Prigozhin, Wagner, Tryfan, Lyuda, Maksyum, Pavlo, trundle, We've, Anna Conkling, Elle Organizations: showtime, Boys, Komsomol, league, Communist Party, Hustler, National University of Kharkiv, Valeriya, Flash Dancers, Monetary Fund Locations: Kharkiv, Ukraine's, Russian, Ukraine, Eastern Europe, bam, Soviet, South Korea, Bulgaria, Yugoslavia, Italy, Asia, Russia, Ukraine's Crimean, Moulin Rouge, Drohobych, Polish, USSR, Bakhmut, Kupyansk, Ukrainian, Kyiv, Berlin

☆ Markets in Q3: Gains, pains and oil reigns
▼ + stars: | 2023-09-29 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. Gold has lost its shine too meaning that only oil and gas, cash and the dollar have proved reliably profitable. “If you are going above $100 a barrel and staying there you are starting to create that inflation narrative again”. Athens’ main stock market is up 26.5% this year, even if it is down 11% since July. “The comforting news for Q4 though is that we should be close to peak (global) interest rates,” Metcalfe said.

Persons: Christian Hartmann, It’s, Salman Ahmed, Japan’s, ”, Robert Alster, El Salvador’s, Tayyip Erdogan’s, Argentina’s, Michael Metcalfe, ” Metcalfe Organizations: REUTERS, Christian, Federal Reserve &, Macro, Deutsche Bank, Management, Russia, U.S, Athens ’, Apple, Microsoft, Nvidia, Tesla, Meta, Street Global Markets, Indicators Locations: Paris, France, Saudi Arabia, Russia, Ukraine, Greece, Athens, Pakistan, Britain’s, Turkey, Nigeria, Colombia, Mexico, U.S, Poland, Ecuador, Japan

☆ Dianne Feinstein, California’s longest-serving senator, dies at 90
▼ + stars: | 2023-09-29 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +5 min

watch nowU.S. Sen. Dianne Feinstein of California has died at age 90, her office confirmed Friday. Senator Feinstein was a force of nature who made an incredible impact on our country and her home state," her chief of staff James Sauls said in a statement. Sen. Dianne Feinstein, D-Calif., in the Senate subway on Capitol Hill in Washington, D.C., May 11, 2022. "There is simply nobody who possessed the poise, gravitas, and fierceness of Dianne Feinstein." American politician Dianne Feinstein, her arms outstretched in celebration, in her office after she was elected mayor of San Francisco, at San Francisco City Hall in San Francisco, California, circa 1978.

Persons: Sen, Dianne Feinstein, Feinstein, James Sauls, Gavin Newsom, Barbara Lee, Katie Porter, Adam Schiff, Kent Nishimura, Newsom, Jennifer, Chuck Schumer, Nancy Pelosi, Pelosi, Joe Biden, Dianne, Jill, Biden, George Moscone, Harvey Milk, Dan White, Francisco's, John O'Hara, Weeks, Barbara Boxer, Bill Clinton, George W, Bush, Nick Allen Organizations: California, Democrat, Senate, Gov, Washington , D.C, Los Angeles Times, Getty, San, Supervisors, CNN, San Francisco Chronicle, U.S . Senate, Democratic, San Francisco City Hall Locations: California, Washington ,, San Francisco, San Francisco's, American, San Francisco , California

Sen. Dianne Feinstein, whose trailblazing career embodied the rise of women in politics, the movement for gun safety and, finally, a determination to keep serving her California constituents despite illness and advancing age, has died. In the past two years, it was apparent Feinstein was having memory issues, and sometimes appeared befuddled on Capitol Hill. Tributes from lawmakers in both parties flowed Friday morning, as somber Senate lawmakers mourned the loss of their colleague. Rep. Nancy Pelosi, California Democrat and House speaker emeritus, sat in the Senate gallery, listening to the tearful tributes with Feinstein's daughter, Katherine. Sen. Lisa Murkowski, Alaska Republican, lauded "the beauty of Dianne Feinstein" and chastised those who pressured Feinstein to step down, not appreciating the sacrifices the ailing California lawmaker made to serve her state.

Persons: Sen, Dianne Feinstein, Feinstein, Chuck Schumer, Nancy Pelosi, Feinstein's, Katherine, Republican Sen, Susan Collins of, Collins, Lisa Murkowski, Murkowski, Patty Murray, Murray, Joe Biden, Dianne, –, Biden, Jill, ”, George Moscone, Harvey Milk, Dan White, Anita Hill, Clarence Thomas, Thomas, Barbara Boxer, GOP Sen, Pete Wilson, Feinstein –, Ted Cruz, I've, Sandy Hook, John McCain, Barack Obama, Gavin Newsom Organizations: Capitol, demurred, New, New York Democrat, California Democrat, Republican, Alaska Republican, Washington Democrat, San Francisco City Hall, San Francisco, California, GOP, Democratic, CIA, Gov, Democrat, California Democrats, Democrats Locations: California, New York, Susan Collins of Maine, Alaska, Washington, San Francisco, San, Delaware, Ted Cruz of Texas, –, Connecticut, Iraq

☆ 5 things you need to know about what could be the largest health care strike in US history
▼ + stars: | 2023-09-29 | by ( Samantha Delouya | ) edition.cnn.com time to read: +8 min

Patients pay for a membership and gain access to Kaiser Permanente’s health care services. Kaiser Permanente has 12.7 million members and operates 39 hospitals and 622 medical offices, according to its website. The strike would be the largest US health care strike in history, according to data from the Bureau of Labor Statistics. It would also be the first-ever national strike effort at Kaiser Permanente, according to John August, the director for health care labor relations at Cornell and the former executive director of the Coalition of Kaiser Permanente Unions. More workers are going on strikeA potential health care workers’ strike would be one in a long line of organized labor efforts that have occurred this year.

Persons: Kaiser Permanente, John August, “, Dania Maxwell, ”, Kaiser, Renee Saldana, they’re, Gabe Montoya, we’re, “ Kaiser, We’ve, UHW, you’re Organizations: Los Angeles CNN, Kaiser Permanente, Washington DC, Kaiser, Bureau of Labor Statistics, Cornell, Coalition, Kaiser Permanente Unions, Service Employees International Union, United Healthcare Workers West, SEIU, Permanente, CNN, Kaiser Permanente Los Angeles Medical Center, Los Angeles Times, “ Workers, ” Employees, “ Kaiser Permanente, Cornell University’s School of Industrial and Labor Relations, United Auto Workers, Ford, General Motors, ’ Guild of America Locations: Kaiser, California , Colorado , Oregon, Washington , Virginia, Washington, ”, Hollywood, Los Angeles , CA, Downey , California, United States, Los Angeles

Ciudad Hidalgo, Mexico CNN —A couple of dozen people pile into a van meant for 13. The families grab their belongings and head along a tarmacked path as we join them, long grass mostly hiding them from the view of the highway and Mexican officials. Occasionally, Mexican officials shout out across the grass to the walkers and tell them to come back to the main road. This static game of cat and mouse will play out several times past several checkpoints on the route. The migrants CNN spoke with said this was just another bump in their long road, another set of obstacles that will likely make what is generally a one-hour drive last the whole day.

Persons: Mexico CNN —, They’ve, –, crouch, ”, Yeimiler Rodríguez, “ Organizations: Mexico CNN, Ciudad, CNN Locations: Ciudad Hidalgo, Mexico, Guatemala, Tapachula, United States, Venezuela, Colombia, Panama, Costa Rica, Nicaragua, Honduras

☆ Elon Musk wants Mitch McConnell out
▼ + stars: | 2023-09-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Elon Musk, too, is calling for Sen. Mitch McConnell to step down. "Seriously, it's time for Mitch to move on, " Musk wrote in an X post. In a follow-up post, Musk posted a clip of McConnell freezing during a press conference in August. A spokesperson for McConnell later said McConnell "felt momentarily lightheaded and paused during his press conference," per Politico. I'm going to finish my term as leader and I'm going to finish my Senate term," McConnell said, per Politico.

Persons: Elon Musk, Sen, Mitch McConnell, Mitch, Musk, McConnell, —, Elon, Donald Trump's, Trump, Ron DeSantis, DeSantis Organizations: Service, GOP, Twitter, Republicans, Trump, Florida Gov, DeSantis, Musk Locations: Kentucky

LOS ANGELES (AP) — He emerged in front of piercing, sunset-colored LED screens that flashed like strobe lights, percussion pulsing from the stage to the audience floor. For an artist well known for over a decade, Jai Paul made this tour opener feel like the first time. Before Jai Paul hit the stage at Los Angeles' Mayan Theater on Tuesday night, he'd only performed a handful of times, and never before this year. A decade later, he made his live debut at Coachella 2023, then performed two nights in London and New York. On Tuesday night in Los Angeles, he kicked off a new tour leg.

Persons: Jai Paul, he'd, He's, Gallagher, Paul, —, they'd, “ BTSTU, — Paul, Drake, Beyoncé, Prince, “ Jasmine, Ed Sheeran, ” Jai Paul Organizations: ANGELES, Mayan, XL Records, New York Times Locations: Los Angeles, British, London, New York, Mumbai

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Acquire Licensing RightsTOKYO/BEIJING, Sept 26 (Reuters) - Oil prices fell on Tuesday amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight. Higher interest rates slow economic growth, which curbs oil demand. With China's Golden Week holiday starting from Sunday, oil prices could gain support from a pick-up in travel and resulting oil product demand from the world's second biggest oil consumer. Oil prices have risen by around 30% since mid-year driven mostly by tighter supply, wiping off 0.5 percentage points from the global GDP growth in the second half of this year, according to JP Morgan.

Persons: Nick Oxford, Tina Teng, Moody's, Fitch, CMC's Teng, JP Morgan, Baden Moore, Katya Golubkova, Andrew Hayley, Sonali Paul Organizations: Midland , Texas U.S, REUTERS, Rights, Brent, U.S, West Texas, CMC Markets, U.S . Federal Reserve, European Central Bank, bbl, National Australia Bank, Thomson Locations: Midland , Texas, Rights TOKYO, BEIJING, Auckland, U.S, China, Russia, Saudi Arabia, Moscow, Tokyo, Beijing

Striding along the training area in his fatigues, Army Gen. Mark Milley bellowed at the Ukrainian troops gathered around him. But as he leaves office at the end of the month, his work to support Ukraine will be just one part of a complicated and fractious legacy. to World War II. He often quotes one World War II veteran at the Normandy American Cemetery who begged him to make sure a war like that never happens again. I’ve buried a lot of soldiers, and my dad and mom fought in World War II,” he said.

Persons: Mark Milley bellowed, “ Slava Ukraini, hollered, “ Heroyam slava, wince, They've, can’t, they’ll, Milley, Donald Trump, Trump, Joe Biden, Sen, Marco Rubio, Biden, Barry McCaffrey, “ Trump, ” Long, strolled, he’s, shouldn’t, ”, Mike Waltz, “, couldn’t, CQ Brown, Adm, Rob Bauer, Bauer, Milley “, “ I’m, ” Bauer, I’ve, we’ve Organizations: Biden, Joint Chiefs of Staff, Capitol, Pentagon, Florida Republican, Trump, White, National Defense University, ” Republican, ” Air Force, Ukraine, ., ” Observers, NATO, Irish Catholic, U.S . Constitution Locations: OSLO, Norway, Germany, Ukraine, Moscow, Ukrainian, Afghanistan, Washington, Iraq, Syria, U.S, China, Florida, Lafayette, Europe, Netherlands, Oslo, “, Boston, Athens, Sparta, Normandy, U.S .

☆ The full moon has different names for each month. Here's the meaning and origin for the whole lunar calendar.
▼ + stars: | 2023-09-26 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +11 min

The next full moon will be a harvest moon, rising on September 29. AdvertisementAdvertisementSeptember: harvest moon, "corn moon," "barley moon"Amish people harvest corn in Maryland. A harvest moon sometimes occurs in October (the moon doesn't follow the Gregorian calendar), but it's always the full moon closest to the autumnal equinox. The next worm moon: March 25, 2024April: "pink moon," "sprouting grass moon," "egg moon," "fish moon"Wildflowers along the California coastline in Big Sur at sunset. AdvertisementAdvertisementThe next seasonal blue moon: August 19, 2024The next monthly blue moon: August 19, 2024

Persons: It's, —, Patrick Hartigan, Mark Wilson, it's, Shamil Zhumatov, Eddie Keog, what's, Jeff R Clow, Andy ClarkREUTERS, John Moore, Mike Segar, Charlie Baker, Brian Snyder, that's, Mike Blake, Toby Talbot, Mead, Toby Melville Deer, Matt Balazik, Steve Helber, Champlain, Paul Hanna Supermoons, Andrew Lichtenstein Organizations: Service, Rice University, Reuters, North, Getty, Beavers, REUTERS, Former, NASA, AP, Astronomical Union Locations: Maryland, Moscow, Russia, North America, Europe, New England, Superior, Colonial, Stokenchurch, England, Lake Louise , Alberta, Irvington , New York, Former Massachusetts, Hollis Hill, Fitchburg , Massachusetts, Algonquin, California, Big Sur, Calais , Vermont, Richmond Park, London, Britain, Alaska, James, Charles City , Virginia

☆ Yom Kippur is the holiest day of the year in Judaism. Here’s what that means
▼ + stars: | 2023-09-24 | by ( Sofia Barrett | ) edition.cnn.com time to read: +3 min

CNN —Yom Kippur, or the Day of Atonement, is considered the holiest day of the year for people who practice Judaism. Days are marked sunset to sunset. ‘Days of Awe’Yom Kippur concludes a 10-day period known as the “Days of Awe” that begins with the Jewish New Year, which is called Rosh Hashanah. According to tradition and lore, the origins of Yom Kippur can be traced to Moses’ leading the ancient Israelites out of slavery, as described in the book of Exodus. Abstaining for the dayMost observant Jews also fast from sunset to sunset on the holiday, abstaining from food and water.

Persons: it’s, ”, Moses ’, Moses, you’re Organizations: CNN, Jewish Locations: Yom, Hashanah, Kippur, Sinai, North America

☆ Why we choose to live on a homestead as millennials: We don't get a day off, but we love raising our girls in this environment.
▼ + stars: | 2023-09-23 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

Homesteading wasn't our original planIt really started with us getting chickens and then I started collecting every animal out there. AdvertisementAdvertisementSo that's when we fenced in the property, and started to get some animals to eat the poison oak. Courtesy of Christina Figone HeinritzThe summer we started framing our first lumber job it was like 113 degrees that day. Courtesy of Christina Figone HeinritzYou can get a pretty good sized garden with not that much land. Christina Figone Heinritz's homestead Christina Figone HeinritzI don't feel that I am missing out on anything by homesteadingI think when you buy into this convenience lifestyle that everyone has, something is gonna suffer.

Persons: Christina Heinritz, Trevor, Heinritz, —, Christina Figone Heinritz, you've, We're, we're, Christina Figone Heinritz's, homesteading Organizations: Service, Chico, —, Craigslist Locations: California, Wall, Silicon, Lincoln , California, Bay, Chico, Lincoln

☆ Not much exciting about Aussie banks as high costs pressure earnings, Macquarie says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Australia's "Big Four" banks - among the top seven listed companies in the country - control 75% of the country's A$2 trillion mortgage market. That euphoria is now largely over as high living costs impact borrowers' capacity to repay loans. Macquarie, an investment bank with a small retail banking operation, said banks' cost bases are likely to remain under pressure as more than 70% of their expenses related to personnel. Macquarie added that it expects banks' expenses to grow by around 1% to 7% in fiscal 2023 through to fiscal 2025, with third-biggest lender Westpac Banking Corp (WBC.AX) seen being impacted more than its peers. The regional banks will remain disadvantaged in the current environment as they will have to continue to invest to keep up, Macquarie said, estimating up to 4% higher expenses than consensus.

Persons: Loren Elliott, Macquarie, Sameer Manekar, Janane Organizations: Central Business, REUTERS, Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Sydney, Australia, Bendigo, Bengaluru

☆ Children Are the Casualties in New Yorkers’ Daily Struggle for Space
▼ + stars: | 2023-09-22 | by ( Ginia Bellafante | More About Ginia Bellafante | ) www.nytimes.com time to read: +2 min

Nicholas’s father, Otoniel Feliz, has said that he had no idea that a tenant was living there when he sent his son to the center. But Ms. Mendez, who wept during her most recent court appearance, has denied knowing that her licensed and recently inspected home business had become a stash house for a kilo of fentanyl and the accompanying paraphernalia. This was the second time in just a few weeks that a devastating loss proved to be the collateral damage of an informal leasing agreement. Last month, a 43-year-old woman named Zhao Zhao was killed in her apartment in Sunset Park in Brooklyn when a man went after her with a hammer, also injuring her two children, 3 and 5, who face a long recovery as they learn again how to walk. The apartment had three rooms; Ms. Zhao and her children occupied one, a single person lived in a second, and a 9-year-old boy took up the third with his father, who was charged in the killing.

Persons: Otoniel, Carlisto Acevedo Brito, Mendez, Mendez’s, Acevedo Brito’s, Zhao Zhao, Zhao Organizations: Prosecutors Locations: Bronx, Sunset Park, Brooklyn

☆ Explainer: What to know about October's 'ring of fire' solar eclipse
▼ + stars: | 2023-09-22 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/3] People watch the solar eclipse on the lawn of Griffith Observatory in Los Angeles, California, U.S., August 21, 2017. WHAT IS AN ANNULAR SOLAR ECLIPSE? The one that will occur on Oct. 14 is a type called an "annular solar eclipse." It does not completely obscure the face of the sun, unlike in a total solar eclipse. They advise using safe solar viewing glasses or a safe handheld solar viewer at all times during an annular solar eclipse, noting that regular sunglasses are not safe for viewing the sun.

Persons: Mario Anzuoni, Will Dunham, Rosalba O'Brien Organizations: Griffith Observatory, Rights, NASA, Thomson Locations: Los Angeles , California, U.S, Americas, United States, Mexico, Central America, South America, Canada, Oregon, California , Nevada , Utah , Arizona, New Mexico, Texas, Guatemala, Belize, Honduras, Nicaragua, Panama, Colombia, Brazil, North America

☆ Social Security benefits may be cut by at least 20% in the next decade. Here's how Congress may fix that
▼ + stars: | 2023-09-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Republican Sen. Bill Cassidy of Louisiana speaks to the press on Capitol Hill on Feb. 10, 2021. Meanwhile, Larson has put forward a bill, Social Security 2100, in four sessions of Congress to make benefits more generous. Cassidy wants to create a new Social Security fund by raising $1.5 trillion that would be invested in the stock market. Any changes to Social Security would require 60 votes in the Senate, and therefore would have to have agreement on from both parties. Rep. John Larson, D-Conn., speaks during an event to introduce legislation called the Social Security 2100 Act.

Persons: Republican Sen, Bill Cassidy of, John Larson, Connecticut —, Biden, Cassidy, Bill Cassidy, Nicholas Kamm, Florida Republican Sen, Rick Scott, Larson, Conn, Mark Wilson Organizations: Istock, Getty, Social Security, Republican, Democratic Rep, Capitol, AFP, Florida Republican, Social, House Democrats, Security, Senate Locations: Bill Cassidy of Louisiana, Louisiana, Florida, Jan

[1/2] Phoebe Price holds a sign, while pushing a dog in a stroller, as SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Sunset Bronson studios, near Netflix offices in Los Angeles, California, U.S., August 11, 2023. REUTERS/Mario Acquire Licensing Rights Read moreLOS ANGELES, Sept 20 (Reuters) - Negotiators for the striking Writers Guild of America (WGA) and Hollywood studios will meet again on Thursday to try to resolve a nearly five-month standoff that has disrupted film and television production. CNBC, citing people close to the negotiations, said writers and producers were near an agreement and hoped to reach a deal on Thursday. But if a deal is not reached the strike could last through the end of the year, CNBC reported. No talks are currently scheduled between the actors and the studios.

Persons: Phoebe Price, Walt Disney, AMPTP, Bob Iger, Ted Sarandos, Donna Langley, David Zaslav, Lisa Richwine, Dawn Chmielewski, Sandra Maler, Kim Coghill Organizations: SAG, Writers Guild of America, Netflix, REUTERS, Mario, Guild of America, Hollywood, WGA, Alliance, Television Producers, Walt, Disney, Warner Bros Discovery, People, CNBC, Thomson Locations: Sunset Bronson, Los Angeles , California, U.S, ANGELES

☆ Baby boomers are big winners from the Fed's policies - but younger generations are 'screwed,' market veteran says
▼ + stars: | 2023-09-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Baby boomers are the big winners from the Federal Reserve's policies, Larry McDonald said. Years of low interest rates boosted asset prices, and now they can earn 5% from Treasury bills. AdvertisementAdvertisementMcDonald's X post made the point that higher rates have lifted yields on Treasury bills to more than 5%. As a result, baby boomers have the option to cash out their profits, invest in short-term government debt, and collect a solid, guaranteed return. While baby boomers are under fire for hoarding wealth, their spending in retirement could prove crucial in sustaining the economy and preventing a recession, market veteran Ed Yardeni argued this summer.

Persons: Larry McDonald, McDonald, Lehman, He's, boomers, Baby, That's, Ed Yardeni Organizations: Service, Fed Locations: Wall, Silicon, millennials, Ukraine

☆ Read the 16-page pitch deck that 'Million Dollar Listing' star Josh Flagg and his cofounders used to raise $1.7 million for their real estate media startup
▼ + stars: | 2023-09-20 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Celebrity real estate agent Josh Flagg, media exec Griff O'Brien, and investor Andrew Shanfeld have teamed up to launch Estate Media, a personality-driven media company. Real estate has become a huge pop culture topic, aided by reality TV series like "Selling Sunset" and the "Million Dollar Listing" franchise. The company will offer content created with a network of real estate personalities who, Estate Media said, reach a collective 25 million followers. While the real estate industry has come down from its pandemic frenzy, O'Brien believes Estate Media can ride ups and downs in the market. Scroll down to see the deck Estate Media used to raise its seed round.

Persons: Josh Flagg, Griff O'Brien, Andrew Shanfeld, O'Brien, Flagg, Shanfeld, Jack Davis, Chip, Joanna Gaines —, There's, Margot Ettedgui, TikToker Aaron Grushow, Robert Rivani, Glennda Baker, Ricky Carruth, Adam Weitsman, Chris Heller, Rich Antoniello, Austin Rief, Devin Emery, Brian Goldsmith, Ricky Van Veen, Justin Killion, Spence Markel Organizations: Estate Media, Entertainment, Crypt, HGTV, Los Angeles, Estate, Ojo Labs, Complex Networks, Austin, Morning, Growth Partners, Powerhouse Capital, CollegeHumor

☆ The 9 cheapest European cities for expats to buy property
▼ + stars: | 2023-09-19 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

Expats in Europe have added to rising real-estate prices, but there's still affordable pockets. Eastern European cities dominated, including the home of the ancient city of Heraclea Lyncestis. But that broader embrace of living abroad has caused real-estate prices to rise in some international hotspots. Using data from Numbeo, a comparison website that provides crowdsourced summaries of the cost of living in major cities across the world, fintech company Money Transfers put together a list of the least pricey European cities on a square-meter basis for expats looking to buy property. Money Transfers excluded cities in Ukraine and Russia from its list.

Persons: Portugal, —, Ben Mendelowitz Organizations: Service Locations: Europe, Wall, Silicon, Heraclea Lyncestis, Numbeo, Eastern Europe, Ukraine, Russia

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