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Morris, like thousands of other customers, was snared in the collapse of a behind-the-scenes fintech firm called Synapse and has been locked out of her account for six months as of November. Then she learned how much Evolve Bank & Trust, the lender where her funds were supposed to be held, was prepared to return to her. The crisis started in May when a dispute between Synapse and Evolve Bank over customer balances boiled over and the fintech middleman turned off access to a key system used to process transactions. Synapse helped fintech startups like Yotta and Juno, which are not banks, offer checking accounts and debit cards by hooking them up with small lenders like Evolve. But that would've required more coordination between Evolve and the other lenders that held customer funds than what ultimately happened.
Persons: Oscar Wong, Kayla Morris, Morris, Andreessen Horowitz, Jelena McWilliams, Zach Jacobs, there's, Yotta, Adam Moelis, they've, Jacobs, Andrew Meloan, Meloan, I've, ” Zach Jacobs, McWilliams, McWilliams didn't, Rayburn, Tom Williams, hadn't, Judge Martin Barash, Natasha Craft, they're, Andreatte Caliguire Organizations: Evolve Bank & Trust, Synapse, Evolve Bank, ., CNBC, FedEx, Evolve, Deposit Insurance Corp, U.S, FDIC, Trump, Federal Reserve, Federal Deposit Insurance Corporation, Financial, Prudential Regulators, Megabanks, Depository, CQ, Inc, AMG, Lineage Bank, American Bank, Indiana FedEx Locations: Texas, Tampa , Florida, Yotta, Chicago, California, Mishawaka , Indiana
CNN —The 27-year-old son of Norway’s crown princess has been accused of a second rape just days after he was arrested on suspicion of the same offense. Police said they are investigating the second alleged incident thoroughly. This means that we are now investigating two rape cases involving Marius Borg Høiby,” the police added. Norway’s Crown Prince Haakon told the country’s public broadcaster, NRK, that the situation is affecting everyone around Høiby. Høiby was born before his mother, Mette-Marit, married Crown Prince Haakon and became a princess in 2001.
Persons: Norway’s, Andreas Kruszewski, Marius Borg Høiby, Øyvind Bratlien, ” Bratlien, Høiby, , Hege Salomon, Prince Haakon, Marius, , Mette, Marit, CNN’s Catherine Nicholls Organizations: CNN, Oslo Police District, Thursday . Police, NRK Locations: Oslo, Norway’s
How to Plan a Family Heritage Trip
  + stars: | 2024-11-22 | by ( Shannon Sims | ) www.nytimes.com   time to read: +1 min
In the second season of the TV show “The White Lotus,” three generations of a fictional American family travel to Sicily to try to reconnect with their ancestral roots. Though their journey goes hilariously wrong at times, heritage trips like theirs have become serious business. But DNA-testing sites, online genealogical databases and social media have made searching far easier, fueling a growing interest in heritage travel. Not everyone goes on a heritage trip for the same reason: Maybe you want to meet living relatives to swap photos and stories. Or you could simply be looking to connect with a place your family once called home.
Organizations: Grand View Research Locations: Sicily
In an environment of high valuations, one of two "catalysts" could cause a market correction. It has a price-to-earnings ratio above 27, and some have described it as expensive by almost every measure. "We do think that a correction would be healthy, but you will need some type of catalyst for that correction to take place. [It is] still quite healthy, but it is slow, right? "If that continues to slow a bit more, if we were to see inflation tick up again, that could be a catalyst," Arcese said.
Persons: Brian Arcese, CNBC's, Arcese Organizations: Management Locations: Singapore, U.S
On Today’s Episode:Matt Gaetz Withdraws From Consideration for Attorney General, by Peter Baker, Maggie Haberman and Jonathan SwanTrump Picks Pam Bondi, Florida’s Former Top Prosecutor, for Attorney General After Gaetz Withdraws, by Devlin Barrett, Maggie Haberman, Eric Lipton and Kenneth P. VogelThe ‘Landslide’ That Wasn’t: Trump and Allies Pump Up His Narrow Victory, by Peter BakerWhat’s Behind the Remarkable Drop in U.S. Overdose Deaths, by Jan Hoffman and Noah WeilandWith Use of New Missile, Russia Sends a Threatening Message to the West, by Marc Santora, Lara Jakes, Valerie Hopkins, Andrew E. Kramer and Eric Schmitt‘This Helps Netanyahu’: Israelis Rally Around Netanyahu Over Warrant, for Now, by Isabel Kershner
Persons: Matt Gaetz, Peter Baker, Maggie Haberman, Jonathan Swan Trump, Pam Bondi, Gaetz, Devlin Barrett, Eric Lipton, Kenneth P, Vogel, Trump, Peter Baker What’s, Jan Hoffman, Noah Weiland, Marc Santora, Lara Jakes, Valerie Hopkins, Andrew E, Kramer, Eric Schmitt ‘, Netanyahu ’, Isabel Kershner Organizations: Allies, Missile Locations: Florida’s, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmpower's Marta Norton says 2025 will be a year of balance rather than conviction for the marketsMarta Norton, chief investment strategist at Empower Investments, joins CNBC's 'Squawk Box' to discuss her outlook on the economy, how to prepare your portfolio for 2025, and more.
Persons: Empower's Marta Norton, Marta Norton Organizations: Investments
Now we see it's very common for these store cards to charge over 30%." Just before the Fed began its rate-cutting cycle in September, many retailers and their bank partners raised interest rates on their store cards to protect their profits when the federal funds rate — which determines their own interest rates — came down. Now, the average interest rate on a store card is at an all-time high just ahead of the holiday shopping season, which is when most consumers sign up for store cards. That was less than half of the interest rate increase for store cards seen from September 2023 to September 2024, when the federal funds rate didn't budge. When asked why they increased the APR on their store cards, the companies that returned CNBC's request for comment pointed vaguely to industry standards and the current economic environment.
Persons: Tommy, Petco, Ted Rossman, it's, Jasmine Matheney, Nordstrom, Matheney, you've, preemptively Organizations: U.S, Federal Reserve, Navy, Academy Sports, Fed, CNBC, Comenity Bank, Big Lots Locations: Petco, Burlington, Macy's, Michael's, Michigan
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalo Alto's stock is on sale and now is a buying opportunity, says Freedom Capital's WoodsJay Woods, Freedom Capital Markets chief global strategist, joins 'Power Lunch' to discuss why Palo Alto is overlooked, the play with Palo Alto, and much more.
Persons: Capital's, Jay Woods Organizations: Palo, Freedom Capital Markets, Palo Alto
Dollar hugs 13-month peak as market awaits next Fed cue
  + stars: | 2024-11-22 | by ( ) www.cnbc.com   time to read: +4 min
Global PMIs are due later in the day, although those figures should not "change the dial too much," said Tony Sycamore, market analyst at IG. Recent comments from Fed officials, including Chair Jerome Powell, have indicated the central bank may take a slower course in its rate cut path. Among Trump policies on weighing on investors' minds were the president-elect's campaign pledges of tariffs, with Europe and China both likely in the firing line. The euro , which makes up a hefty portion of the dollar index, steadied at $1.0475 after falling to a 13-month low of $1.0461 on Thursday. The dollar was last down 0.17% on the day at 154.27 yen.
Persons: Tony Sycamore, It's, it's, Sycamore, Donald Trump's, Jerome Powell, CME's, Trump, Sterling, Bitcoin, Marcel Thieliant, Kazuo Ueda Organizations: The U.S, greenback, Bank of Japan's, Global, IG, U.S, PCE, Trump, Capital Economics Locations: Rio de Janeiro, Brazil, The, Europe, China, Russia, Ukraine, Germany, Asia
AdvertisementNatalie Fischer quit her corporate job to become a solopreneur creating financial content. In 2023, Fischer took a leap of faith and quit her corporate job to focus full time on finance content creation as a solopreneur, or a one-person business. Advertisement"That gave me a lot of comfort knowing that if worse comes to worse, I can always get another job," Fischer said. You can do bothBeing a solopreneur and working a corporate role aren't diametrically opposed. Fischer has seen fellow solopreneurs balance a content creation business, a corporate role, and even write a book at the same time.
Persons: Natalie Fischer, Fischer, influencer, Fischer couldn't, She's, Fischer's, Goldman Sachs, didn't, I'd, Christine Ji Organizations: Business
Iran said Friday it would begin operating new machines to enrich more uranium, which could bring it closer to having a weapon. The move came in response to a censure by the International Atomic Energy Agency for failing to cooperate fully with atomic inspectors. Iran will activate “a substantial number of advanced centrifuges of various models,” which are able to produce highly enriched nuclear fuel, read a joint statement from Iran’s Foreign Ministry and its Atomic Energy Organization. It condemned the censure as “politicized and destructive,” saying it undermined “the positive momentum” achieved between Iran and the I.A.E.A. Behrouz Kamalvandi, a spokesman for Iran’s Atomic Energy Organization, said Friday in an interview with media in Iran that the country began accelerating its enrichment right after the order was announced.
Persons: Behrouz, , Organizations: International Atomic Energy Agency, Iran’s Foreign Ministry, Atomic Energy Organization, Iran’s Atomic Energy Organization Locations: Iran, Tehran, Vienna
The Indonesian government expects Apple to increase its proposed $100 million investment into the country, according to state media, as the iPhone maker seeks clearance from Jakarta to sell its latest phones. According to a report from Indonesian state media, the country's Ministry of Industry met with representatives from Apple on Thursday regarding its proposal to invest $100 million over two years. "From the government's perspective, of course, we want this investment to be larger," industry ministry spokesperson Febri Hendri Antoni Arif told state media on Thursday. While Indonesia represents a small market for Apple, it also offers growth opportunities as it has the world's fourth-largest population, according to Le Xuan Chiew, a Canalys analyst focusing on Apple strategy research. Success in this market requires a long-term approach, and Apple's investment offer demonstrates a commitment to complying with local regulations and paving the way for future growth, he added.
Persons: hasn't, AirPods Max, Apple didn't, Febri Hendri Antoni Arif, Le Xuan Chiew Organizations: Fifth, Apple, country's Ministry of Industry, CNBC Locations: New York City, Indonesian, Jakarta, Indonesia
Senator Chuck Schumer, the New York Democrat and majority leader for a few more weeks, is not known for keeping his thoughts to himself. “We’re going to wait and see what happens in each of these instances before commenting,” Mr. Schumer told reporters this week, passing up a television camera-ready opportunity he would normally grab to slip a knife into any of the president-elect’s cabinet picks. He is keeping quiet for a reason, and it is not because he does not have opinions on President-elect Donald J. Trump’s administration in the making. Mr. Schumer does not want Republicans to be able to paint him as the face of the opposition, a prospect that could help rally the G.O.P. around Mr. Trump’s choices.
Persons: Chuck Schumer, Trump, “ We’re, ” Mr, Schumer, Donald J, Matt Gaetz, Pete Hegseth, Mr Organizations: New York Democrat, Fox News Locations: Mar
AdvertisementAmazon has told staff in Germany they can apply to work from home for up to two days a week. Amazon has a global mandate for all employees to return five days a week to the office from January. Amazon employees in Germany will be able to apply to work from home up to two days a week when the company's global return-to-office mandate takes effect, Business Insider has learned. Amazon said the expectation is still for employees to work from the office five days a week in Germany, and that it had a similar flexible work policy before the pandemic. It also states that the policy applies to all Amazon employees in Germany, but it does not include Twitch and Audible employees.
Persons: Slack, Andy Jassy, Amazon, Jassy, it's, Jyoti Mann Organizations: BI, Amazon, Business Locations: Germany, jyotimann
CNN —A Norwegian man working as a security guard for the US Embassy in Oslo was arrested this week on allegations of spying for Russia and Iran. According to Norway’s public broadcaster NRK, the man is in his 20s and was arrested at home in his garage on Wednesday. He is charged with attempted aggravated intelligence activities against state secrets and admitted to having collected and shared information with Russian and Iranian authorities, according to NRK. The arrest comes amid ongoing concerns about Moscow and Tehran’s espionage and influence operations around the globe. Western officials have disrupted plots from Tehran to harm or kill individuals, including an alleged assassination plot against President-elect Donald Trump.
Persons: Donald Trump, John Christian Elden, Elden, Organizations: CNN, US, NRK, Wall Street Journal, Norway “, US State Department, Norwegian Locations: Oslo, Russia, Iran, Moscow, Tehran, Germany, United Kingdom, Canada, Norway,
A lottery is being held on Monday to determine who will be the 16 people who get to witness what happens next in the case of the Menendez Brothers, who are serving life sentences for murdering their parents in 1989. The drawing will take place between 8 a.m. and 9 a.m. Pacific time, in front of the Van Nuys Courthouse West, the Superior Court of Los Angeles County said. The seats for 16 people, in a county of more than 10 million residents, will be allocated just one hour before the status hearing is set to begin at 10:30 a.m. The court occasionally holds public lotteries “when seating is limited and public interest is high,” a court spokesperson said in an email. Erik and Lyle Menendez killed their parents, Jose and Kitty Menendez, more than 35 years ago in their Beverly Hills mansion.
Persons: Menendez, Van, Erik, Lyle Menendez, Kitty Menendez Organizations: Court of, Netflix Locations: Los Angeles, Angeles County, Beverly
CNN —President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury. A key Cabinet player, the US Treasury secretary advises the president on economic and fiscal matters, including spending and taxes. Bessent would be the first out gay Treasury secretary, as well as the first LGBTQ Senate-confirmed Cabinet member in a Republican administration, according to The Associated Press. Compared to Lutnick’s more aggressive campaign for the role, Bessent led a more understated quest for the position. All of the names Trump put out Friday night had been decided by the afternoon, the sources said, but he wanted to name his Treasury secretary first before publicly releasing his other decisions.
Persons: Donald Trump, Scott Bessent, “ Scott, ” Trump, Scott, ” Bessent, Trump, George Soros, Bessent’s, Bessent, Pete Buttigieg, , Howard Lutnick –, Lutnick, Cantor Fitzgerald, fides, MAGA, Elon, Steven Mnuchin, Mnuchin, Kayla Tausche, Matt Egan Organizations: CNN, Department of, Treasury, of Innovation, Capital, U.S, Reserve, Square Capital Management, Soros Fund Management, Democratic, Senate, Republican, Associated Press, Biden, Wall Street, Trump, , Financial Times, CNBC, Soros, United, Republicans, Treasury Department Locations: United States, United States of America, China
The latestElon Musk is getting a crash course in the world of President-elect Donald Trump. Trump worked to fill out his cabinet, after picking Florida’s Pam Bondi to replace Matt Gaetz as his nominee for attorney general. The Senate majority leader Chuck Schumer is staying strategically silent over Trump’s cabinet picks. “Why get in the middle of a food fight?” one Democrat said. When gravity exerted its pull on that now-former congressman, Matt Gaetz, he reached for a tried-and-true excuse that has softened the landing of many nominees who failed before him, albeit for less shocking reasons.
Persons: Elon Musk, Donald Trump, Trump, Pam Bondi, Matt Gaetz, Chuck Schumer, ” Gaetz, Vance, Organizations: Elon, Trump, of Justice
Prosecutors said four of his associates discussed their share of the bribes via Excel and PowerPoint. New York prosecutors charging one of India's richest men with bribery said his associates used Microsoft Excel and PowerPoint to discuss and analyze their corrupt payments. AdvertisementThe Adani Group and attorneys for the other defendants did not respond to requests for comment from BI. Prosecutors said that during this period, the Adani Group falsely told investors at least four times that it had not paid bribes. AdvertisementIn a statement on its website on Thursday, the Adani Group said the prosecution's accusations are "baseless and denied."
Persons: Gautam Adani, Prosecutors, Adani, Sam Bankman, Sagar Adani, Vneet Jaain, Rupesh Agarwal, Agarwal, Cyril Cabanes, Sagar Organizations: Excel, New, Microsoft, Adani, Energy, Power, Prosecutors, New York Stock Exchange, Eastern, of, Adani Group, US Department of Justice, Adani Enterprises, SEC, Wednesday Locations: New York, India, of New York, British, Hong Kong, Indian
Bluesky Is Turning Into a Strong X Alternative
  + stars: | 2024-11-22 | by ( Kevin Roose | ) www.nytimes.com   time to read: 1 min
After an hour or so of scrolling through Bluesky the other night, I felt something I haven’t felt on social media in a long time: free. Free from Elon Musk, and his tedious quest to turn X into a right-wing echo chamber where he and his friends are the permanent, inescapable main characters. Free from Threads and its suffocating algorithm, which suppresses news and real-time discussions in favor of bland engagement bait. Free from my own bad habit, honed through years of obsessive Twitter use, of packaging my thoughts for consumption by an audience of opinionated strangers.
Persons: Elon Musk Organizations: Elon
AdvertisementA new study found that postpartum depression rates doubled over the past decade. A new study from JAMA found that postpartum depression diagnoses have doubled in the last decade. AdvertisementPlowing ahead, potentially ignoring postpartum depression symptoms, can lead to quicker burnout — and leaving a career entirely. AdvertisementPostpartum depression can be hard to identifySymptoms of postpartum depression range from intense mood swings to thoughts of harming your baby. Fornaro's husband worried about her postpartum depression and offered to pay for a nanny, which she initially refused.
Persons: Bri Ramos, Ramos, Ramos Zoloft, Nehaa, Stephanie Fornaro, it's, Justine Sterling Converse, Converse, hadn't, Fornaro, Clayton Shuman Organizations: Business, JAMA, Kaiser Permanente Locations: Kaiser Permanente Southern California, Texas, Greece, Iceland, North Macedonia
Hong Kong CNN —In the summer of 2018, when former President Donald Trump launched a trade war with Beijing, the Chinese economy was riding high. There was even talk it could soon overtake the United States as the world’s largest. But last year, Mexico overtook China as the top exporter of goods into the United States, according to the Commerce Department. China had held that perch for 20 years before its exports to the United States fell by 20% to $427 billion last year. Women walk at a fashion accessories store displaying a poster to promote Singles' Day discounts at a shopping mall in Beijing, China, on November 11, 2024.
Persons: Donald Trump, Trump, , Dexter Roberts, Joe Biden, Matthews, Wang Shouwen, ” Andy Rothman, , Liza Tobin, Calvin Klein, Tommy Hilfiger, Beijing’s, don’t, Sean Callow, Callow, Andy Wong, Rothman, Xi Jinping, Larry Hu Organizations: Hong Kong CNN —, Trump, Atlantic Council, Commerce Department, Matthews Asia, Treasury, CNN, PVH Corp, Bain & Company, ITC Markets, US, Peterson Institute, National Bureau of Statistics, Gross, Macquarie Bank Locations: China, Hong Kong, Beijing, United States, Mexico, Lianyungang, US, Xinjiang, , Shanghai, New York,
AdvertisementI drove an updated 2025 Porsche 911 Carrera T Cabriolet in Lugano Blue. The Carrera T is a lighter, more enthusiast-focused 911 trim and comes with a manual transmission. The Porsche 911 is an automotive icon in the truest sense of the word, a representative symbol of what a sports car should be. Only a few high-end models, like the track-focused GT3, are offered with a manual transmission. AdvertisementStarting in 2025, the manual transmission will not only be standard on the Carrera T, it will be the only transmission offered on he model.
Persons: Carrera Organizations: Porsche, Carrera Locations: Lugano Blue
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLong time China watcher says the economic impact from U.S. tariff on China is 'not a big deal'Independent economist Andy Xie says that U.S. levied tariffs impact would be a drop in the bucket for China's overall GDP growth
Persons: Andy Xie Locations: China
London CNN —The coronation of King Charles III and Queen Camilla held in May last year cost British taxpayers £72 million ($91 million), an amount some have labeled excessive. The £72 million spent on the coronation could have paid for 24 million free meals for schoolchildren in London, based on the city government’s current budget of £3.00 ($3.75) per meal. Some additional spending came from the Privy Purse, the monarch’s private source of income, a royal source told CNN. “Plans (for the coronation) were scaled back,” the royal source told CNN. The culture department, in its accounts, said it had underspent its budget on the coronation by £2.8 million ($3.5 million).
Persons: King Charles III, Queen Camilla, Queen Elizabeth II, Finnbarr Webster, , Graham Smith, Sovereign Grant —, Sovereign Grant, , Elizabeth II’s, Max Foster Organizations: London CNN, Department for Culture, Media, Sport, Home Office, Volunteers, Republic, CNN, Sovereign, CNN’s Royal Locations: United Kingdom, Weymouth , England, British, London, Lancaster, London’s Westminster
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