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☆ He left his corporate job to help his mom in the family's 90-year-old restaurant. He almost gave up but figured out how to turn it around.
▼ + stars: | 2024-10-02 | by ( Erin Liam | ) www.businessinsider.com time to read: +9 min

He directs customers to find seats in Sabar Menanti, his two-story Malay restaurant, while ducking behind the counter to serve the restaurant's signature nasi padang. His grandparents opened Sabar Menanti in the 1920s and started selling nasi padang near a tombstone shop. But as his relatives had a handle on the business, Tambunan went on to work in the shipping industry. Dealing with rising costsAt a nasi padang stall, diners can choose from a variety of sides to eat with their rice. Tambunan told me he wanted her to remain active in her old age and encouraged her to return to help.

Persons: Iszahar Tambunan, Menanti, nasi, Tambunan, —, Sabar Menanti, Sabar, Erin Liam, Tambunan's, I've, Maryulis Bagindor Marlian, Nasi, Beef, Azreen Aziz, Aziz, tauhu telor, masak, I'm, Anthony Bourdain, Erin Liam I, Menanti Tambunan, he's Organizations: Service, Urban Redevelopment Authority, Singapore Statistics Board Locations: shipbroking, Singapore, nasi padang, Sabar, padang, Malay, Kampong Glam, Bahasa Indonesia, Sultan Mosque, Nasi padang, Indonesian, rendang, achar

Chase Freedom Flex® Review 2024Chase Freedom Flex® Insider’s Rating Info icon Insider's Ratings are decided by our editorial team. Chase Freedom Flex® Overview and Key FeaturesThe Chase Freedom Flex® credit card has been extremely popular since it debuted a few years ago. Consumer Insights on the Chase Freedom Flex®The Chase Freedom Flex® is well-loved for the various benefits mentioned above. Chase Freedom Unlimited® vs. Chase Freedom Flex®The Chase Freedom Unlimited® is a cousin of the Chase Freedom Flex®, and another one of Personal Finance Insider's picks for the best credit cards. Chase Freedom Flex Frequently Asked QuestionsWhat is the Chase Freedom Flex Credit Card?

Persons: takeout, Chase, There's, cardholders, You'll, Cash, you'll, it's, Finance Insider's, Cardholders, Read, you've, What's, Katherine Fan, Katherine, Guy, Fortune, Katherine moonlights, she's, She's, Jasmin Baron Organizations: Business, Citi, Chase, McDonalds, PayPal, Chase Travel, Mastercard, Sapphire, Emergency, Lyft, Consumer, Finance, Restaurants, Citi Entertainment, Amazon.com, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: There's, Reddit, Chase, Austin, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan, Canada

Mortgage rates are starting the month a little higher, with 30-year rates hovering around 5.90%, according to Zillow data. But if conditions hold up, mortgage rates will likely remain near their current levels through the end of 2024. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they've, Jerome Powell, you'll, They've, Freddie Mac, it's, Fannie Mae Organizations: Federal, Today's, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Nashville, Chevron

☆ Los Angeles' LGBTQ history comes alive at Circa: Queer Histories Festival
▼ + stars: | 2024-10-01 | by ( Dan Allen | ) www.nbcnews.com time to read: +3 min

It’s all part of Circa: Queer Histories Festival, which returns for a second edition of packing LGBTQ History Month — aka October — with events that explore and celebrate L.A.’s myriad queer legacies. “Los Angeles is not just a big city, it’s like a small country,” said Tony Valenzuela, executive director of One Institute, Circa’s organizer. “There’s just so much diversity here, folks from all over the world, and it has a really vibrant — not just queer and trans community, but queer and trans history. That history has long been overshadowed by New York and San Francisco, but I think that’s really changing.”Tony Valenzuela, pictured here at the Out100 Celebration in Los Angeles in 2023, is the executive director of the One Institute, which organizes the Circa: Queer Histories Festival. “It doesn’t have to be events that fill an auditorium with 300 people,” he explained.

Persons: Faeries, Don Kilhefner, trailblazers, Long, ”, Tony Valenzuela, “ There’s, ” Tony Valenzuela, Alberto Rodriguez, “, ” Valenzuela, Valenzuela Organizations: Finland House, One Institute, Variety, ”, Gay & Lesbian Latinos Unidos Locations: Los Angeles, Finland, New York, San Francisco, Palestine

Actor John Amos, whose long career included a wide range of iconic roles in works such as "Roots," "Good Times" and "The West Wing," died last month, his family said Tuesday. He was 84 when he passed away from natural causes in Los Angeles on Aug. 21. Many fans consider him their TV father. His legacy will live on in his outstanding works in television and film as an actor.”John Amos in 'Good Times'. His television career was revitalized in 1999 when he was cast on acclaimed White House drama "The West Wing," where he appeared for five seasons as Admiral Percy “Fitz” Fitzwallace.

Persons: John Amos, Belinda Foster, ”, Kelly Christopher Amos, ” John Amos, Amos, James Evans, Norman Lear, Toby, Ben Vereen, LeVar Burton, Louis Gossett Jr, Leslie Uggams, Cleo McDowell, Eddie Murphy, Bruce Willis, Percy “ Fitz ” Fitzwallace Organizations: Associated Press, CBS, Everett, White Locations: Los Angeles, Chicago, America

☆ This is how badly the port strike could wreck the US economy
▼ + stars: | 2024-10-01 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port workers' strike from Maine to Texas could deliver a major hit to the US economy. AdvertisementA strike involving port workers from Maine to Texas could inflict major damage to the US economy. The affected ports involve about half of the nation's ocean shipping. Analysts at JPMorgan have said the price tag for shutdowns related to the strike could reach $5 billion a day. Given that it's been decades since a major strike unfolded on the East Coast, he said, many companies were also likely caught off guard.

Persons: —, Adam Kamins, Kamins, Mirko Woitzik, Travis Tokar, Tokar, it's Organizations: Service, Moody's, Fed, JPMorgan, Texas Christian University's Neeley School of Business, kiwis Locations: Maine, Texas, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, New York, West Coast, East Coast

☆ US port workers strike starts across the East and Gulf Coasts
▼ + stars: | 2024-10-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The strike, which was confirmed by the Port Authority of New York and New Jersey as well as the Port of Virginia, began at midnight. The strike will stop the flow of a wide variety of goods over the docks of almost all cargo ports from Maine to Texas. The ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. President George W. Bush applied the act in 2002 to halt an 11-day lockout of union members at West Coast ports.

Persons: haven’t, USMX, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, “, ” Biden, ” It’s, Daggett, “ It’s, Peter Tirschwell, ’ ” Organizations: New, New York CNN, International Longshoremen’s Association, Port Authority of New, United States Maritime Alliance, American Farm Bureau, Retailers, ILA, “, P Global Market Intelligence, CNN Locations: New York, Gulf Coast, Port Authority of New York, New Jersey, of Virginia, Maine, Texas, of New York, Port Wilmington, Delaware, West Coast, Taft

☆ These are the 10 most valuable college degrees—all but 1 help grads earn six figures
▼ + stars: | 2024-10-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +5 min

Electrical engineeringMedian salary: $115,000$115,000 Unemployment rate: 1.9%1.9% Percentage of workers with advanced degrees: 47.6%2. Computer engineeringMedian salary: $112,000$112,000 Unemployment rate: 2.1%2.1% Percentage of workers with advanced degrees: 38.8%3. Petroleum engineeringMedian salary: $100,000$100,000 Unemployment rate: 0.9%0.9% Percentage of workers with advanced degrees: 39.2%4. Aerospace engineeringMedian salary: $105,000$105,000 Unemployment rate: 1.9%1.9% Percentage of workers with advanced degrees: 48.9%5. Mechanical engineeringMedian salary: $100,000$100,000 Unemployment rate: 1.9%1.9% Percentage of workers with advanced degrees: 38.9%7.

Persons: Bankrate, It's, Get Organizations: Survey, Computer, Petroleum, Aerospace, Bureau of Labor Statistics, Actuaries, CNBC

☆ Harris campaign launches small business battleground tour in a play for Latino, Black voters
▼ + stars: | 2024-10-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

This week's small business tour is the Harris campaign's latest effort to quell Trump's gains. Harris is adopting that argument for her own campaign, working to draw a similar contrast with her Republican opponent. "Vice President Harris has proven that she will be a champion for small business," Richard Garcia, the Harris campaign's small business engagement director, wrote in a statement Tuesday. Over the next week, the Harris campaign will extend that pitch specifically to small businesses in Arizona, Georgia, Michigan, Nevada, North Carolina, and Pennsylvania. So far, Harris has proposed giving small businesses a $50,000 tax deduction for their startup expenses, a tenfold expansion from the current $5,000 deduction.

Persons: Kamala Harris, Harris, surrogates, Walz, Donald Trump, Trump, You'll, Joe Biden, Richard Garcia Organizations: Democratic, U.S, CNBC, Harris, Democrats, Republican, Trump, Black Locations: Las Vegas , Nevada, U.S, Georgia, Arizona , Georgia, Michigan, Nevada , North Carolina, Pennsylvania

☆ Spacecraft delivery startup founded by former SpaceX rocket guru raises $150 million, led by Founders Fund
▼ + stars: | 2024-10-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

Impulse SpaceLos Angeles-based space startup Impulse, which is led by renowned rocket specialist Tom Mueller, has raised $150 million in a new fundraising round led by venture capital firm Founders Fund. University of IdahoImpulse flew its first mission, called LEO Express-1, with a Mira vehicle carrying and deploying a small satellite. A wide swath of venture investors joined the company's $150 million round including: Airbus Ventures, Alumni Ventures, Balerion Space Ventures, Lux Capital, RTX Ventures, Spring Tide, Tamarack Global, 137 Ventures, DCVC, Elysium, First Principles Group, Island Green, Overmatch and Trousdale Ventures. A Mira vehicle in orbit during the LEO Express-1 mission that launched November 2023, with several pairs of its Saiph thrusters visible. "There's a lot of cost and efficiency to be gained … [with] a reliable solution for any customer who wants to move things around in space," Mueller said.

Persons: Tom Mueller, Elon Musk, Mueller, Helios, Mira, we're, there's, SpaceX Organizations: Fund, Mueller, SpaceX, CNBC, University of Idaho, University of Idaho Impulse, LEO, Impulse, U.S . Space Force, Airbus Ventures, Ventures, Balerion Space Ventures, Lux, RTX Ventures, Trousdale Ventures, GEO, Rocket Lab, NASA Locations: Los Angeles, Beach, Redondo Beach , California

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.70% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates remain right around 5%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are unlikely to drop back down to the historic lows of 2020 and 2021, when 30-year fixed rates fell below 3%.

Persons: We're, there's, you'll, Freddie Mac, it's, they've, They'll Organizations: Zillow, Fed Locations: Realtor.com, Chevron

☆ Tesla set to report Q3 deliveries ahead of robotaxi event
▼ + stars: | 2024-10-01 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

Analysts are expecting Elon Musk's automaker to report about 463,310 deliveries, according to estimates compiled by FactSet StreetAccount. Tesla reported deliveries of 435,059 and production of 430,488 vehicles for the same period a year ago, before it was selling the Cybertruck. More recently, Tesla reported deliveries of 443,956 and production of 410,831 vehicles for the second quarter of 2024. Goldman Sachs last week said it expects Tesla deliveries and production "to come in-line with consensus, largely driven by the strength in the China market." Tesla brand erosionSome customer interest in buying Tesla vehicles has been chilled by the brand's strong association with Musk.

Persons: Elon Musk, Tesla, Elon, FactSet StreetAccount, Wells, Goldman Sachs, tacking, Musk —, —, he's, Donald Trump, Musk, Mike DeWine Organizations: Trump, Tesla's, EVs, Warner Bros, Baidu, SpaceX, Associated Press, CNN, NBC News, The New York Times, Twitter, The Washington Post, Springfield Police Division, Ohio Gov, Pew Research Locations: Manhattan , New York, U.S, China, Los Angeles, Springfield , Ohio

State laws targeting transgender people made trans and nonbinary young people more likely to attempt suicide in the past year, according to a first-of-its-kind study. The study compared suicide-related outcomes for trans and nonbinary young people in those 19 states to the outcomes for trans and nonbinary youth in states that did not enact any such laws. It found that these laws caused an increase in suicide attempts among trans and nonbinary youth by an estimated 7% to 72%. After time periods two and three, which were between December 2019 and December 2020, past-year suicide attempts increased by 72% and 52% for that same age range. She added that the researchers expected that type of misclassification to underestimate the percent increase in suicide attempts.

Persons: Trevor, ”, Ronita Nath, Jack Turban, “, Nath, Turban Organizations: Trevor Project, University of California San, Supreme Locations: “, University of California San Francisco, Wyoming, California

SKIP AHEAD What to shop on Prime Day | What to skip shopping on Prime Day | Prime Day v.s. Clothing and footwear: Anything related to fashion typically doesn’t stand out in terms of the best savings during Prime Day, says Shand. How to save the most money during Prime DayPlanning is key to saving during Prime Day. Additionally, Prime card members can earn 10% back or more on select Prime Big Deal Days deals with Amazon’s Prime Card Bonus. I’m an associate updates editor at NBC Select, where I’ve covered Amazon Prime Day for five years.

Persons: Mackenzie Shand, I’ve, Shand, “, ”, they’re, you’re, Vipin Porwal, you’ll, “ You’re, We’ve, it’s, you’ve, Porwal, There’s, TikTok Organizations: Deal, NBC, Echo, Prime, Amazon, Black, Target, Walmart, July’s, Amazon’s, Big Deal, Facebook, Twitter

☆ With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
▼ + stars: | 2024-09-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

As much as 43% to 49% of total containerized goods entering the U.S are processed through ports on the East Coast and Gulf Coast. Michael Kanko, CEO of ImportGenius, tells CNBC the economic importance of the ports impacted by an ILA strike is profound. Approximately 50,000 ILA union members work at the ports of Boston, New York/New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa, Miami, New Orleans, Mobile, and Houston. UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. East Coast ports in the U.S. are forecast to handle 2.3 million TEU (twenty-foot equivalent units) in October.

Persons: Gary Hershorn, Lading, Alan Baer, Baer, Michael Kanko, Brian Bourke, Pete Buttigieg, Julie Su, Lael Brainard, Biden, We've, Taft, Hartley, Donald Trump, Harold Daggett, let's, Estee Lauder, Steve Lamar Organizations: Port, Port Newark Container, Corbis, CNBC, International Longshoremen's Association, US Maritime Alliance, USA, ILA, U.S ., Seko Logistics, Gulf, Transportation, National Economic, UBS, Maersk, Democrats, Hartley, Business, The U.S . Chamber of Commerce, Biden, ., L'oreal, ABB, Walmart, Walgreens, Disney, Port Authority of, American Apparel & Footwear Association Locations: Port Newark, New York City, Newark , New Jersey, Coast, U.S, ImportGenius, East Coast, Gulf Coast, U.S . East Coast, Maine, Texas, Boston , New York, New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, The, Port of New York, Port Authority of NY, Virginia, Mitre . East Coast, Port of Virginia

Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, a potential precursor to an activist push. A CVS spokesperson said the company "maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program." Jeff Smith's Starboard Value also built a stake in the company in 2019, and engaged in discussion with the company's leadership as well. The company's insurance unit includes plans by Aetna for the Affordable Care Act, Medicare Advantage and Medicaid, along with dental and vision. In its second-quarter results in August, CVS announced a leadership shakeup based on the performance and outlook of its insurance unit.

Persons: Karen Lynch, Scott Ferguson, Jeff Smith's, Lynch, Brian Kane Organizations: Glenview, CVS Health, CVS, Teva Pharmaceuticals, Street Journal, Sachem, Capital Management, Aetna, American Medical Association, Affordable, Medicare Locations: Florida Keys, United States, Centene, Glenview

☆ Amazon and TV vet Brian Williams are nearing a deal that hints at a new strategy for the streaming giant
▼ + stars: | 2024-09-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Brian Williams is close to a deal with Amazon to host an election-night special on Prime Video. These people were granted anonymity to speak freely about private deal talks. AdvertisementThe people close to the deal talks rebuffed the idea that Amazon would build its own news operation, however. Amazon this year turned on ads in Prime Video, gunning for the nearly $70 billion in annual TV ad spending. "It fits in with their interest in disruptions and amassing big audiences," the second person close to the deal talks said.

Persons: Brian Williams, —, gunning, Mike Hopkins, Albert Cheng, Hopkins, Jonathan Wald, Williams, Don Lemon, it's, Ted Sarandos, Jon Stewart, Stewart, Apple Organizations: Amazon, NFL, Service, Business, Variety, CNN, Amazon MGM Studios, MSNBC, CAA, NBC News, ABC News, Tech, Netflix, Apple, NBC Locations: LA

In spite of this, many buyers are holding off since mortgage rates are expected to continue going down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are around 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop much in October.

Persons: you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ Clock ticks down towards a port strike with little hope it will be avoided
▼ + stars: | 2024-09-30 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The maritime alliance represents the major shipping lines, all of which are foreign owned, as well as terminal operators and port authorities. Depending on the length of the strike, there could be shortages of consumer and industrial goods, which could then lead to price hikes. What could be in short supplyThe ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. The union has pledged to continue to handling military cargo even during a strike and said passenger ships won’t be affected.

Persons: “, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, Julie Su, Peter Buttigieg, Lael Brainard, ” Biden, ” CNN’s Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, ILA, United States Maritime Alliance, American Farm Bureau, “, Business, Labor, National Economic Council, CNN, Union, Labor Department Locations: New York, Gulf, Maine, Texas, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, West Coast, Taft

☆ Chappell Roan dropping out of a music festival had an unexpected upside for fans of queer pop
▼ + stars: | 2024-09-30 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +8 min

The music festival All Things Go took place on Saturday and Sunday in Maryland and New York. Chappell Roan, a major draw, dropped out at the last minute — but other performers made up for it. Artists like MUNA, Reneé Rapp, and Janelle Monáe proved that other queer artists deserve the spotlight, too. AdvertisementOn Sunday evening, MUNA welcomed the crowd at Maryland's Merriweather Post Pavilion to All Things Go Music Festival, which the group lovingly dubbed "Lesbopalooza." At least one person was in full Lady Liberty drag, emulating Roan's onstage look at Governors Ball in June.

Persons: Chappell Roan, MUNA, Reneé Rapp, Janelle Monáe, —, Katie Gavin, Naomi McPherson, Josette Maskin, MUNA wasn't, Nina Westervelt, festivalgoers, they'd, Roan, Hozier, they've, Phoebe Bridgers, Gracie Abrams, Arlo Parks, Julien Baker, Lucy Dacus, Towa, she's, it's, Towa Bird, Rapp, Amber Bain, Maren Morris, Ethel Cain, Conan Gray, there's Organizations: Service, Maryland's, York, Forest, Spotify, Lady Liberty, Ball, Democratic, The Locations: Maryland, New York, Queens, Roan's

☆ This 25-year-old has one of the most fulfilling college degrees available—'I wouldn't trade it'
▼ + stars: | 2024-09-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

But once she got there, she discovered the discipline of music therapy and immediately switched her major. After finishing her degree in 2021, she started working as a music therapist full-time. While not everyone with a music therapy degree may be working as a therapist, everyone who is a board-certified music therapist has a music therapy degree, per the profession's requirements. Just 30% of current music therapists said they can live comfortably on their music therapy income alone, according to a 2022 survey by the American Music Therapy Association. In their first five years of working, music therapy degree-holders earn a median salary of $49,400, Payscale finds.

Persons: Dannielle Caldwell, Payscale, Caldwell Organizations: Belmont University, CNBC, American Music Therapy Locations: Nashville

☆ Mark Cuban warns Elon Musk: Trump’s ‘loyalty is only to himself'
▼ + stars: | 2024-09-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Billionaire investor Mark Cuban cautioned Tesla CEO Elon Musk on Sunday against forming an alliance with former President Donald Trump, because, he said, the Republican presidential nominee may not ultimately repay his political debts. "Elon, there will come a time when you need something from Donald Trump," Cuban wrote in an X post to his fellow billionaire. Trump, Cuban believes, might not follow through on that exchange for Musk. Earlier this month, Trump endorsed the government efficiency commission idea and suggested Musk could be a "good one" to lead it. But the Republican nominee hedged that Musk, a busy CEO of multiple companies, might not have the time for the job, but that he could "consult."

Persons: Mark Cuban, Tesla, Elon Musk, Donald Trump, Elon, Cuban, Trump, Musk, Kamala Harris, Harris, hedged Organizations: Republican, SpaceX, Trump, Musk, Cuban, Securities and Exchange Commission, SEC Locations: Cuban

☆ How Warren Buffett decides when to sell a stock, and why he might be dumping Bank of America
▼ + stars: | 2024-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.

Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors

Angela Weiss | AFP | Getty ImagesAs she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order to rein in voters' grocery costs. Although Harris released more detail Wednesday as part of her 82-page economic plan, it's still unclear what price hikes her administration would see as illegal "price gouging." Generally, Republicans support fewer economic regulations, although Trump has suggested limiting food imports as a way to lower grocery prices. What is price gouging? Thirty-seven U.S. states already have laws that forbid price gouging in emergencies.

Persons: Kamala Harris, Doug Emhoff, Angela Weiss, Donald Trump, Harris, it's, Walz, Trump, YouGov, Rakeen Mabud, Mabud, Mario Tama, markups, —, Jerome Powell —, Sarah Gallo, Brian Cornell, Jharonne Martis, Brandon Bell, Kroger, Arun Sundaram, Sundaram, JBS, Joe Raedle Organizations: Democratic, AFP, Getty, Trump, Bureau of Labor Statistics, Voters, Federal Reserve Bank of Kansas, Consumer Brands Association, Federal Trade, Department of, Kroger, Procter, Gamble, Albertsons, Federal Trade Commission, CFRA Research, Pilgrim's Pride Corporation Locations: Coraopolis , Pennsylvania, Los Angeles , California, Federal Reserve Bank of Kansas City, Houston , Texas, Miami , Florida

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.80%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are near 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's, they've, They'll, refinance Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

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