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☆ ‘Months to correct, if not years’: Car dealerships and customers feel the impact as CDK outage drags on
▼ + stars: | 2024-06-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

“The financial impact it will directly have on us will take months to correct, if not years,” Callahan said. Tom McParland, the owner of Automatic Consulting, a national car buying service, said the outage was impacting customers because they have fewer dealers to choose from. “It limits the customer’s leverage.”Some dealers also can’t apply factory rebates without CDK’s software, so customers may miss out on money-saving deals. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. He told CNN he was able to buy the car but was unable to sign the title.

Persons: Ryan Callahan, ” Callahan, CDK, Tom McParland, ”, McParland, Michael Deveney, “, ” Deveney, Katelyn Salvato, hasn’t, Salvato, …, We’ve, they’ve, Scott Campbell, Nicolas, CNN they’ve, Don Aycock, Robbie Jacob, Jacob, Tekion Organizations: New, New York CNN, Mazda, North America, Automatic Consulting, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, “, DMV, CNN, Massachusetts Department of Transportation, Capital City Buick GMC, Porsche, Buick, Diego —, Kia, Cox Automotive Locations: New York, Seekonk , Massachusetts, Lynn, Berlin , Vermont, Los Angeles, ”, Clay County , Florida, Diego

☆ Are you better off than you were four years ago? It can be a murky picture for many
▼ + stars: | 2024-06-25 | by ( Shannon Pettypiece | ) www.cnbc.com time to read: +9 min

But retirees and full-time caregivers have been unable to take advantage of a strong job market. Now, consumers are largely left with the same buying power they had four years ago rather than having seen real income gains over that time that would have helped bolster their financial picture. The outlook for the job market also varies by race with the unemployment rate at 5.6% for Black workers and 5% for Hispanic workers. Food prices have risen around 25% over the past four years while Biden was in office. The rise in food prices has disproportionately impacted lower-income households, which spend around a third of their discretionary income on food, according to a 2022 Agriculture Department survey.

Persons: Joseph Prezioso, Joe Biden, Donald Trump, Ronald Reagan, Julia Pollak, Pollak, Joseph Davis, Biden, MAGA, Julian Assange, Trump, Davis Organizations: Gloucester High School, AFP, Getty, Homeowners, ZipRecruiter, NBC, Consumer, Vanguard, NBC News, Food, Bureau of Labor statistics, Agriculture, Federal Reserve, Walmart, Aldi, Target, Gas Locations: Gloucester , Massachusetts, U.S, Arizona, Nebraska , Colorado

☆ More than 1,300 people died during Hajj, many of them after walking in the scorching heat
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +5 min

More than 1,300 people died during this year's Hajj pilgrimage in Saudi Arabia as the faithful faced extreme high temperatures at Islamic holy sites in the desert kingdom, Saudi authorities announced Sunday. All but 31 of them were unauthorized pilgrims, according to two officials in Cairo. Egypt has revoked the licenses of 16 travel agencies that helped unauthorized pilgrims travel to Saudi Arabia, authorities said. Those agencies left pilgrims in limbo in Mecca and the holy sites in scorching heat, the newspaper said. AP journalists saw pilgrims fainting from the scorching heat, especially on the second and third days of the Hajj.

Persons: Fahd bin Abdurrahman, Jalajel, Egypt's, Mina Organizations: Sunday, Saudi Health, Saudi, Saudi National Center for Meteorology, Massachusetts Institute of Technology Locations: Mecca, Saudi Arabia, Saudi, Riyadh, Cairo . Egypt, Mecca's Al, Muaisem, Egypt, Ahram, Indonesia, India, Jordan, Tunisia, Morocco, Algeria, Malaysia, U.S, Islam

☆ The best private and public colleges for financial aid: Some 'have really stepped up,' expert says
▼ + stars: | 2024-06-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowOngoing problems with the new Free Application for Federal Student Aid have delayed financial aid award letters — and have even prevented many high school seniors and their families from applying for aid at all. Yale UniversityLocation: New Haven, ConnecticutSticker price: $87,150Average need-based scholarship: $71,577Average total out-of-pocket cost: $15,573 2. Vassar CollegeLocation: Poughkeepsie, New YorkSticker price: $85,220Average need-based scholarship: $61,252Average total out-of-pocket cost: $23,968 3. Williams CollegeLocation: Williamstown, MassachusettsSticker price: $85,820Average need-based scholarship: $70,764Average total out-of-pocket cost: $15,056 4. Pomona CollegeLocation: Claremont, CaliforniaSticker price: $86,814Average need-based scholarship: $65,925Average total out-of-pocket cost: $20,889 5.

Persons: Robert Franek, Yale University Yana Paskova, Stringer, Win McNamee Organizations: Federal, Aid, National College, Princeton, Yale University, Vassar College, Williams, Pomona, California Institute of Technology, University of Virginia, Getty Locations: New Haven , Connecticut, Poughkeepsie , New York, Williamstown , Massachusetts, Claremont , California, Pasadena , California, Charlottesville , Virginia

☆ Music labels sue AI companies Suno, Udio for U.S. copyright infringement
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +2 min

Major record labels Sony Music , Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels' recordings to train music-generating AI systems. The companies copied music without permission to teach their systems to create music that will "directly compete with, cheapen, and ultimately drown out" human artists' work, according to federal lawsuits filed against Udio in New York and Suno in Massachusetts. Representatives for Suno and Udio did not immediately respond to requests for comment on the complaints. AI companies have argued that their systems make fair use of copyrighted material. Cambridge, Massachusetts-based Suno and New York-based Udio have raised millions in funding this year for their AI systems, which create music in response to user text prompts.

Persons: Udio, Mariah Carey's, James Brown's, Michael Jackson, Bruce Springsteen, Mitch Glazier Organizations: Sony Music, Universal Music Group, Warner Records, Udio, Suno, Recording Industry Association of America Locations: New York, Suno, Massachusetts, Cambridge , Massachusetts

☆ The fastest-growing career in the US is in wind power. Here's what employees make, what it's like, and how to land a job.
▼ + stars: | 2024-06-24 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

Federal data indicates wind-turbine technician is the fastest-growing job in the US. He started as an intern in 2017 before becoming a wind technician and then advancing over the past seven years. Federal data indicates wind-turbine technician is the fastest-growing job in the US, alongside nurse practitioner. Offshore wind technicians can expect to earn an extra 30% to 40% compared to onshore workers. Wind technicians in the early stages of their careers might do scheduled maintenance and cleaning.

Persons: —, Dakota Carter, I've, Carter, Jerry Jones, Harry Willats, Willats, It's Organizations: Service, EDP Renewables, Renewables, Bureau of Labor Statistics, Industry, International Energy Agency, Darwin Recruitment, Siemens Gamesa, GE, Robert Morris University in, EDP, Technicians Locations: Delavan , Illinois, America, Australia, Brazil, China, Colombia, Egypt, India, Japan, Kenya, South Korea, Illinois, Texas, New Mexico , Kansas, Colorado, New York, Massachusetts, Robert Morris University in Illinois

☆ Rare Risk of Tornadoes in New England on Sunday, Forecasters Say
▼ + stars: | 2024-06-23 | by ( Johnny Diaz | More About Johnny Diaz | ) www.nytimes.com time to read: 1 min

Parts of New England and the Northeast were under an unusual risk for tornadoes on Sunday as severe thunderstorms were expected to strike the region, forecasters said. The National Weather Service issued a tornado watch early Sunday afternoon for Massachusetts, Vermont, New Hampshire, northeastern New York and western Maine. More than 8 million people were under the watch, which signals that conditions could lead to severe storms or tornadoes. The watch is in effect until 8 p.m. The National Weather Service office in Albany, N.Y., warned of an enhanced risk of severe thunderstorms on Sunday afternoon and evening, and said such a risk was “more rare” for that part of the country.

Organizations: National Weather Service Locations: New England, Massachusetts , Vermont , New Hampshire, New York, Maine, Albany, N.Y

☆ The sneaky, smart reasons malls have no windows
▼ + stars: | 2024-06-22 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +8 min

The birth of the American mall ushered in an era of “windowless” shopping that’s largely still here. But the sneakiest reason why malls limit windows could be to make shoppers lose track of time. Windowless shopping creates an environment of consumption without distractions,” Flickinger said. The Southdale mall was functional and drab to look at and that is the blueprint that all traditional enclosed malls have continued to follow. Some of these adaptive uses of traditional malls might be creating a practical need for windows after all, she said.

Persons: mallgoers, Burt Flickinger, Bill Peters, ” Flickinger, “, Victor Gruen, Gruen, Larry Salzman, Stephanie Cegielski, ”, Cegielski, ” Alexandra Lange, Lange, Thomas McMillan, ” Lange, Kristin Mueller, Kena Betancur Organizations: New, New York CNN, Strategic Resource Group, CNN, Shoppers, Denver, Getty, Denver Post, ”, Southdale, Minneapolis –, Gruen Associates, International Council of Shopping Centers, “, Sears, Roebuck, of Retailing Studies, Texas, Mays Business School, Energy, Customers, North Locations: New York, Northglenn, Northglenn , Colorado, Minneapolis, Austria, Los Angeles, Edina , Minneapolis, ”, Framingham , Massachusetts, United States, America, American, East Rutherford , New Jersey, North America

☆ A B.A. from Columbia could cost $500,000: Here are the top 10 most expensive places in the U.S. to go college
▼ + stars: | 2024-06-22 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Over four years, the total bill may be $500,000 or more, as it is estimated to be at Columbia University, according to Self Financial. These are the 10 schools with the highest total cost for four years. Columbia University—New YorkTotal cost: $514,4422. Massachusetts Institute of Technology—Cambridge, MassachusettsTotal cost: $441,948All of the 10 most expensive schools Self Financial identified are private, which makes sense, given that those institutions typically charge higher tuition than public schools. But private colleges often offer generous financial aid and scholarships packages so your cost to attend may even be lower than at a public university.

Organizations: National Center for Education Statistics, Columbia University, Columbia, U.S . News, Bureau of Labor Statistics, Columbia University — New York, New York University — New York, Georgetown University — Washington, D.C, Harvard University — Cambridge, California Institute of Technology, University of Southern, University of Southern California — Los Angeles Total, University of Chicago — Chicago, George Washington University — Washington, Yale University — New, Massachusetts Institute of Technology, Self, Harvard, University of Massachusetts, Department, Education's, CNBC Locations: Massachusetts, California Institute of Technology — Pasadena, California, University of Southern California, Yale University — New Haven , Connecticut, Massachusetts Institute of Technology — Cambridge, Amherst

☆ A millennial who raised $24 million to invest in properties using an 80-page pitch deck shares the key to his success beyond the deck itself — and how to get started in real estate
▼ + stars: | 2024-06-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

At the time, he was bringing in between $25,000 and $30,000 a month from his personal real estate portfolio, he said. "I deployed that $7 million and bought about $25 million worth of property within 10 months," he told BI. His second fund closed at just under $24 million. "Put 5% down," he advised (many new investors get started with FHA loans that allow you to put down as little as 3.5%). If you maintain your current lifestyle, you can use those savings to buy a second property.

Persons: James Berkley, syndicator, Berkley, — Organizations: Service, Business Locations: Boston, New York City, Worcester , Massachusetts, Worcester, Berkeley

☆ The surprise election that could be a model for Democrats in 2024
▼ + stars: | 2024-06-22 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +14 min

I talked to Samuel Freedman, a Columbia Journalism School professor, about his recent book about Humphrey and the 1948 Democratic convention in Philadelphia. The book’s title, “Into the Bright Sunshine,” is taken from a line in Humphrey’s rousing speech on civil rights. In 1968, the Democratic Party was operating under old rules in which primary voters actually had relatively little direct effect on delegates. When Strom Thurmond and the Dixiecrats bolted from the Democratic Party in 1948, that’s the beginning of the vast majority of the White South becoming Republicans, stepping away from the Democratic Party. Show me a major Republican politician in the MAGA movement who is a fervent supporter of civil rights legislation.

Persons: Joe Biden, Hubert Humphrey, Republican Richard Nixon, Humphrey, uninspiring, Harry Truman, Thomas Dewey, Samuel Freedman, Freedman, Biden, Truman WOLF, Donald Trump, FREEDMAN, Truman, – Henry Wallace, Strom Thurmond, Jill Stein, Minneapolis Hubert H, Lyndon, George McGovern, FDR hadn’t, Brown, Ed, WOLF, there’s, Martin Luther King, It’s, Lyndon Johnson, Bobby Kennedy, Eugene McCarthy, I’m, Nixon, Spiro Agnew, Byron Donalds, Abraham Lincoln, Adlai, Stevenson, Barry Goldwater, Nixon’s, Ronald, Reagan’s, Willie Horton, Jim Crow, MAGA, Mitt Romney’s, George Romney, William Scranton, Edward Brooke, that’s Organizations: CNN —, House, Republican, Minneapolis, Columbia Journalism School, Democratic, Democratic Party, Civil Rights Movement, RFK Jr, Democratic National Convention, Civil, Chicago, CNN, Civil Rights, Southern Democrats, South Carolina Democrat, Republicans, South, JFK, Trump, Republican Party –, LBJ, Southern, Republican Party, Michigan Gov, Pennsylvania Gov, NAACP Locations: Israel, Chicago, Vietnam, New York, Philadelphia, America, ‘, Harlem, Minneapolis, Alabama, Southern, Montgomery, ’, Florida, Lincoln, Massachusetts

☆ If you’re grabbing tax-free income from this asset, you may be sacrificing yield
▼ + stars: | 2024-06-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Though municipal bonds generally offer income that's free of federal income taxes – and state taxes if the investor resides in the issuing state – they also come with lower yields compared to other bonds. When it comes to muni bonds, the higher your tax bracket, the more valuable the tax-free income is. A tax-conscious approach to fixed income You don't have to bulk up on municipal bonds to get the best yield for your tax scenario. Municipal bonds are good contenders in taxable brokerage accounts, where investors can benefit from their tax-free income. Some fund families offer "tax-aware strategies" either in mutual funds or ETFs, which can include some exposure to municipal bonds, as well as equities.

Persons: Wells Fargo, aren't, Nisha Patel, That's, Collin Martin, Michael Carbone, it's, Beth Foos Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, SEC, Bond, Corporate Bond, York Life Investments, Schwab Center, Financial Research, Morningstar Locations: Wells Fargo, Chelmsford , Massachusetts

☆ 2 Goldman Sachs interns share their Wall Street experience and secrets for success, from early mornings to overcommunicating
▼ + stars: | 2024-06-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Stankard should know — he's a rising senior now, but this will be his second summer interning for Goldman's sales and trading division. "I've always been interested in business generally," said Young about her decision to intern with Goldman last summer. For sales & trading interns like him, the summer is different — they split their nine weeks between two "pods" within the division. Dan Dees Goldman SachsA summer at Goldman is hard workTraders are known for having early work schedules to get ahead of the trading day and clients' needs. Goldman interns mingle Emmalyse BrownsteinAdvice for other interns and applicantsStanding out is hard in the application process.

Persons: —, Goldman Sachs, Anna Kouba, Goldman, Robbie Stankard, He's, Stankard, you've, Willow Young, Goldman Young, I've, Young, Dan Dees, Dees, Tony Pasquariello, Lucy DeStefano, he's, Lucy, they're, Dan Dees Goldman Sachs, it's Organizations: Service, Business, Goldman, Columbia University's, Stanford University, Financial, Group, FIG, Bloomberg, Soros Fund, CNBC, Investment, Wall Locations: Jersey, California, Chicago, New York, Westwood , Massachusetts

☆ Extreme heat takes toll on outdoor workers
▼ + stars: | 2024-06-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

There’s little to no escape from sweltering temperatures for construction workers like Eva Marroquin, who cleans work sites in Austin, Texas, and has worked in the industry for 17 years. Since 2010, she’s worked closely with the Workers Defense Project, an organization that advocates for protections for low-wage, immigrant workers in the Texas construction industry. Slowing down small businessesIt’s barely just now summer, and heatwaves are already slowing down small businesses, according to Homebase, which provides payroll software to more than 100,000 small businesses, covering 2 million hourly workers. “I think anything that impacts small businesses is affecting the economy as a whole,” he said, noting how small businesses account for half the jobs in the country. For herself, the high heat is more of an inconvenience; the car’s hotter and she just needs to pack some extra water.

Persons: Eva Marroquin, ” Marroquin, Christine Bolaños, she’s, Chris Lafakis, ”, Joshua, Gina Ferazzi, Gregory P, Casey, Jenny Schuetz, Brian Snyder, aren’t, “, John Waldmann, They’re, Katie Parent, Joseph Prezioso, Greer, Denise Greer Jamerson, Norman, Greer Jamerson, you’ve, ‘, “ It’s, it’s, Tamara Lovewell, café, panini, Tamara Lovewell “, Lovewell Organizations: CNN, Capitol, Workers Defense Project, Moody’s, Federal Reserve Bank of San, Williams College, Triple, Los Angeles Times, Environmental Protection Agency, Brookings Metro, Reuters, University of California, Stanford University, Getty, National Weather Service, Ruska Coffee Company Locations: Austin , Texas, Washington ,, Texas, Federal Reserve Bank of San Francisco, Massachusetts, Joshua Tree , California, Boston, Greater Boston, AFP, Princeton , Indiana, , Maine, United States, Caribou .

☆ Pennsylvania Sen. Casey warns Amazon, Target and Walmart over 'greedflation' pricing
▼ + stars: | 2024-06-21 | by ( Rob Wile | ) www.cnbc.com time to read: +4 min

Meanwhile, an average Pennsylvania family has paid almost $7,000 more "toward greedflation," Casey says. "Americans deserve to pay fair prices, and corporations must be held accountable for taking advantage of working families," he writes. NBC News has reached out to Amazon, Target and Walmart for comment. "Price increases that consumers have been confronted with have not been inflationary increases but, instead, greedflation-related increases," he writes. Amazon, Target and Walmart have each recently announced moves to lower prices for certain goods or release new value-based products.

Persons: Pennsylvania Sen, Bob Casey, Casey, Walmart's, Someone's, they're, Olivier Blanchard, Blanchard, Price, —, they've Organizations: Target, Walmart, NBC News, Amazon, NBC, Financial Times, Massachusetts Institute of Technology Locations: Pennsylvania, United States

☆ Biden to ban U.S. sales of Kaspersky software over ties to Russia, source says
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +4 min

Kaspersky Internet Security software is seen at the store in Krakow, Poland on December 30, 2021. A spokesperson for the Commerce Department declined to comment, while Kaspersky Lab and the Russian Embassy did not respond to requests for comment. Previously, Kaspersky has said that it is a privately managed company with no ties to the Russian government. The new restrictions on inbound sales of Kaspersky software, which will also bar downloads of software updates, resales and licensing of the product, kick in on Sept. 29, 100 days after publication, to give businesses time to find alternatives. If it only adds the Russian entity, the impact will be largely reputational.

Persons: Biden, Trump, Kaspersky, Donald Trump Organizations: Commerce Department, Russian Embassy, Biden, Department of Homeland Security, Kyiv, U.S, Reuters, Piaggio, Qatar Olympic Committee Locations: Krakow, Poland, United States, U.S, Russian, Moscow, Ukraine, Russia, China, New U.S, Massachusetts, Spain

☆ Exclusive: A16z-backed Knownwell is buying AI-powered Alfie Health to supercharge its obesity care
▼ + stars: | 2024-06-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

With that market shaking out this year, one obesity care startup just scooped up another. Knownwell, which provides obesity-centered primary care and weight management, has acquired Y Combinator startup Alfie Health, Business Insider has learned exclusively. But many investors leaned away from backing obesity care startups as the virtual prescription-focused model clashed with medication shortages. AdvertisementKnownwell has taken a different approach to weight management, with in-person providers alongside its virtual care services, and primary care in addition to obesity care. Alfie HealthGetting obesity care rightBoyarsky Pratt founded Knownwell alongside Dr. Angela Fitch, the president of the Obesity Medicine Association and the former associate director of Massachusetts General Hospital's weight care center.

Persons: —, Alfie, Alexander Singh, Ozempic, Knownwell, It's, Andreessen Horowitz, Alfie Health, Y Combinator, Nina Capital, Brooke Boyarsky Pratt, Boyarsky Pratt, it's, Angela Fitch, Vineeta, Kindbody, Agarwala Organizations: Service, Health, Business, Alfie Health, Knownwell, Flare Capital Partners, Nina, Obesity Medicine Association, Massachusetts, Oak, Carbon Health Locations: WeightWatchers, Plenty, Needham , Massachusetts, Boston, Massachusetts, Rhode Island, New Hampshire, Dallas, Minneapolis

☆ Researchers have found a ‘clear genetic trigger for obesity’ that applies to some people
▼ + stars: | 2024-06-20 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +4 min

CNN —Obesity isn’t just a matter of food and exercise — it may be in your genetic code, according to new research. In this study, however, we found a clear genetic trigger for obesity,” said lead study author Dr. Mattia Frontini, British Heart Foundation senior fellow and an associate professor in cellular biology at the University of Exeter in the United Kingdom, in an email. Researchers used data from the UK Biobank, a large biomedical database and research resource that follows people long term, according to the study published Thursday in the journal Med. Women with the gene mutation weighed an extra 4.6 kilograms (10.14 pounds), and men with the variant weighed an extra 2.4 kilograms (5.29 pounds), according to the study. Research into genetic factors and potential treatments is still underway, but Scherer said the current best approach to medical treatment of obesity is GLP-1 medications.

Persons: ”, Mattia Frontini, Frontini, isn’t, Philipp Scherer, ” Scherer, “, ” Frontini, Scherer, Brooke Alpert, Emily Feig Organizations: CNN, Heart Foundation, University of Exeter, Touchstone Diabetes, University of Texas Southwestern Medical Center, National Institute of Diabetes, Research, Massachusetts General Hospital Locations: United Kingdom

☆ Justices uphold Trump tax on overseas investments in win for Biden
▼ + stars: | 2024-06-20 | by ( John Fritze | Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —The Supreme Court on Thursday upheld a Trump-era tax on overseas investments, rejecting an argument from a Washington state couple in a case that could have jeopardized existing tax provisions and torpedoed Democratic talk of a wealth tax. Justice Brett Kavanaugh wrote the majority opinion and Justice Clarence Thomas wrote a dissent. In reading his opinion from the bench, Kavanaugh repeatedly stressed that the opinion was “narrow” and did not implicate the raging debate over a wealth tax. “Those are potential issues for another day, and we do not address or resolve any of those issues here,” Kavanaugh wrote in Thursday’s opinion. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon and Independent Sen. Bernie Sanders of Vermont have also unveiled tax proposals that would hit the wealthiest Americans.

Persons: Brett Kavanaugh, Clarence Thomas, Kavanaugh, Charles, Kathleen Moore, Moores, Donald Trump, Joe Biden, ” Kavanaugh, “, ” Biden, Biden, Democratic Sens, Elizabeth Warren of, Ron Wyden, Independent Sen, Bernie Sanders, Paul Ryan, Moore, Samuel Alito, Alito, Charles Moore Organizations: CNN, Trump, Democratic, Government, Oregon, Independent, Capitol, Moores Locations: Washington, India, trillions, Elizabeth Warren of Massachusetts, Vermont

☆ The salary a family of 4 needs to get by in every U.S. state—it's more than $150,000 in the most expensive one
▼ + stars: | 2024-06-20 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

A family of four needs to earn at least $106,903 a year to cover their necessities in most U.S. states, a recent SmartAsset study reveals. The findings are based on cost estimates for housing, child care, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator. That said, basic expenses for a family of four in all states exceeds what most U.S. households typically earn, which is estimated to be a median of $78,171, according to data consulting firm Motio Research. And about 1 in 5 parents say they've relied on a relative to help out with child care. Here's a look at the minimum amount a family of four would need to cover basic needs, including child care, in each state.

Persons: it's, they've Organizations: MIT, Motio, Census Locations: Massachusetts, Hawaii, Connecticut, York, California, Mississippi, Los Angeles, New York City, U.S

☆ Hundreds died during this year’s Hajj pilgrimage in Saudi Arabia amid intense heat, officials say
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +5 min

MECCA, Saudi Arabia (AP) — Hundreds of people died during this year's Hajj pilgrimage in Saudi Arabia as the faithful faced intense high temperatures at Islamic holy sites in the desert kingdom, officials said Wednesday as people tried to claim their loved ones' bodies. Saudi Arabia has not commented on the death toll amid the heat during the pilgrimage, required of every able Muslim once in their life, nor offered any causes for those who died. Already, several countries have said some of their pilgrims died because of the heat that swept across the holy sites at Mecca, including Jordan and Tunisia. More than 1.83 million Muslims performed the Hajj in 2024, including more than 1.6 million pilgrims from 22 countries, and around 222,000 Saudi citizens and residents, according to the Saudi Hajj authorities. Saudi Arabia has never acknowledged the full toll of the stampede.

Persons: Al Saud, King Salman Organizations: Associated Press, Public Health, Saudi National Center for Meteorology, Massachusetts Institute of Technology Locations: Mecca, MECCA, Saudi Arabia, Al, Muaisem, Jordan, Tunisia, Mina, Saudi, Algeria, Egypt, India, Medina . Saudi Arabia, Islam, hajj

☆ ‘We Just Always Expect It to Work’: 911 Outage Shows System’s Perils
▼ + stars: | 2024-06-19 | by ( Nicholas Bogel-Burroughs | ) www.nytimes.com time to read: 1 min

The abrupt failure of Massachusetts’ 911 system on Tuesday was a stark example of the disastrous consequences that can occur when an emergency network that is supposed to be reliable is, without warning, suddenly unreliable. Last year, more than 3.2 million contacts were made to emergency call centers in Massachusetts. Calls to 911 fluctuate significantly through the day, but that comes out to an average of 367 calls an hour, an indication of just how impactful the outage on Tuesday may have been. It was far from the first 911 outage to strike a large region. Several major failures in recent years have sent officials scrambling.

Locations: Massachusetts

☆ CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
▼ + stars: | 2024-06-19 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The shift presents challenges for tech-focused ETFs and could affect their holdings of heavyweights like Nvidia , Microsoft , and Apple . Markets are pricing in at least two rate cuts this year, while Fed officials have indicated only one rate cut is likely. Nvidia takes the crown Nvidia on Tuesday surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year.

Persons: Dave Calhoun, Josh Hawley, Calhoun, Hawley, Paul Ashworth, Susan Collins, Collins, Adriana Kugler, " Kugler, Jeff Cox, Cox, Claudia Sahm, —, Kif Leswing, Bob Pisani, Leslie Josephs, Alex Harring, Samantha Subin, Spencer Kimball, Yun Li, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Federal Reserve, Fed, Boeing, Federal, North, Capital Economics, Boston Federal, Peterson Institute for International Economics Locations: New York City, U.S, North America, Boston, Lawrence , Massachusetts, Washington

☆ Woman accuses former Olympic swim coach of sexually abusing her as a teen and USA Swimming of failing to stop it
▼ + stars: | 2024-06-18 | by ( Amy Simonson | Eric Levenson | ) edition.cnn.com time to read: +5 min

He also founded the Bernal’s Gator Swim Club, an amateur swim club, and coached Le from 2006 to 2010. In February 2016, USA Swimming permanently banned Bernal for his abuse of an unnamed “Athlete A,” the lawsuit states. The suit accuses Bernal, USA Swimming and other defendants of violating the Trafficking Victims Protection Act. Further, the lawsuit accuses Bernal of sexual abuse and the others of negligence. USA Swimming is not a defendant in the lawsuit.

Persons: CNN —, Amanda Le, “ Amanda Le, Joseph Bernal, Bernal, Le, ”, Scott Leightman, ’ ’, Larry Nassar, Jon Little, ” Little, Nassar, doesn’t, Amanda, “ Amanda, Kimberly Stines, Little Organizations: CNN, of Fame, Court, Fordham, Harvard, American Swim, Hall of Fame, Swim, Le, Boston Globe, ’ ’ CNN, USA, Olympic, Paralympic Committee, Gator Swim, New, Stines Locations: Massachusetts, USA, New England, Bernal’s

☆ There's a huge pay raise on the way for clean energy workers
▼ + stars: | 2024-06-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Read previewThe Biden administration wants to ensure businesses are paying their clean energy workers well — and it's using a new tax break to push for it. Advertisement"This is a major step to put American workers at the center of the clean energy economy. The rule gets at one of the big issues facing the clean energy economy: It doesn't pay as well as jobs in more carbon-intensive fossil fuel energy. The new rule could open up the type of federal tax support for clean energy that fossil fuel companies have enjoyed for decades. Are you considering going into clean energy for higher pay?

Persons: —, Biden, John Podesta, Janet Yellen, it's, Yellen, Sean McGarvey, McGarvey Organizations: Service, Treasury Department, Internal Revenue Service, Business, International Climate Policy, University of Massachusetts, Economy Research Institute, North Locations: California, North America's

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