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☆ Welcome to the 'treat yourself' economy — where skincare and long hair rule
▼ + stars: | 2024-10-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

An uptick in personal care spending could be a sign US consumers are feeling more confident. Better-than-expected retail sales last month point to a coming "treat yourself economy." Those rising numbers point to a trend that Washington Post reporter Heather Long dubbed the "treat yourself economy" in a conversation with Marketplace last week. AdvertisementIt's an expensive trend that may have been less achievable a year or two ago when personal care spending was down nationwide. "Consumers are more willing to spend on the luxury or higher-quality personal care items they avoided during the downturn, such as high-end hair care or designer skincare goods."

Persons: —, Heather Long, Long, Peter C, Earle Organizations: Service, Washington Post, American Institute for Economic Research, Wall Street Locations: Utah

☆ Why I paid $95 to recycle a mattress — and you might, too
▼ + stars: | 2024-10-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

The author paid a company, Renewable Recycling, to pick up and recycle his queen-size mattress in New York City. Greg IacurciI paid $95 to recycle a mattress. Why mattress recycling can be expensiveShredded old mattress materials. Guillaume Souvant | Afp | Getty ImagesThe $95 fee I ultimately paid to Renewable Recycling is "pretty standard" among mattress recyclers, Conway said. For example, cotton remnants must be picked off steel mattress springs before it can be shredded or baled for sale to scrap markets, according to the Mattress Recycling Council.

Persons: Greg Iacurci, Alicia Marseille, Robert Brook, —, Meg Romero, Charles, Mark Rightmire, Romero, Peter Conway, Conway, Guillaume Souvant, Charles County, " Romero, Staples, Reid Lifset, Amanda Wall, Wall Organizations: Renewable, U.S, Mattress, Arizona State University, MRC, Salvation Army, Goodwill, Freecycle, Recycling Inc, MediaNews, Orange, Getty, Spring, Afp, Yale School of, Colorado, Environmental Resources, Arizona State University Individuals, International Sleep Products Association Locations: New York City, Brooklyn, Charles County , Maryland, East Rockaway , New York, San Juan Capistrano , California, Spring Back Colorado, Commerce City, Colorado, Oceanside , New York, Charles, California, Mexico, Canada, India, Egypt, Texas, Marseille, — California, Connecticut, Rhode, Oregon, Rhode Island, New York , Massachusetts, Maryland, Virginia

☆ Denver Nuggets head coach Michael Malone says he isn’t taking Nikola Jokic’s ‘greatness’ for granted heading into new season
▼ + stars: | 2024-10-09 | by ( Matias Grez | Bijan Hosseini | ) edition.cnn.com time to read: +5 min

CNN —The chance to win an NBA title doesn’t come around very often. Even when they do, injury misfortune can instantly derail a team’s title dream. That’s why Nuggets head coach Michael Malone said he “never” takes Jokić’s “greatness” for granted as the pair attempt to retake their NBA crown. The MVPs, the championship, he’s still the same guy. “You have the highest victory, first franchise championship in 47 years.

Persons: doesn’t, Nikola Jokić, –, Jokić, ”, Michael Malone, “, Ronald Martinez, ” Malone, CNN’s Bijan, I’ve, Nikola, Steph Curry, LeBron James, Russell Westbrook, he’s, He’s, Jaylen Brown, Larry O’Brien, Peter Casey, Westbrook, Dario Šarić, Malone, …, wouldn’t, team’s, Adam Silver, ” Silver, “ We’ve, Joe Dumars –, Fadel Senna, Holiday, that’s Organizations: CNN, Denver Nuggets, Nuggets, Minnesota Timberwolves, NBA, Boston Celtics, of Famer, Dallas Mavericks, USA, Reuters, Western Conference, West, Celtics, Getty Locations: Serbian, Abu Dhabi, AFP, Boston

☆ Judge's ruling against Google in Epic Games case highlights a shift in antitrust law
▼ + stars: | 2024-10-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

A law professor said the ruling shows how antitrust law is used against Big Tech companies. Management and law experts told Business Insider the ruling highlights how antitrust law is being used against Big Tech companies — and could cost Google billions of dollars in lost revenue. Historically, he said, liberal judges tended to favor antitrust law more than conservative ones. When Epic Games' case against Apple was similarly appealed, the Supreme Court denied requests to hear it, leaving Apple with its partial victory. AdvertisementRepresentatives for Epic Games directed Business Insider to a public thread about the Google ruling, posted on X by the company's CEO, Tim Sweeney.

Persons: —, James Donato's, Peter Cohan, Cohan, Apple, Yvonne Gonzalez Rogers, Eric Chaffee, Chaffee, Alden Abbott, Abbott, Tim Sweeney, Sweeney Organizations: Google, Apple, Big Tech, Service, Management, Epic Games, Northern, Northern District of, Babson College, Case Western Reserve University School of Law, Epic, DOJ, Business, Mercatus Center Locations: California, Northern District, Northern District of California, United States

☆ Amazon's RTO push is an outlier — the tech world remains all-in on hybrid work
▼ + stars: | 2024-10-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

Despite return-to-office mandates at Amazon and Dell, the tech world still appears to favor hybrid work. Experts say hybrid work boosts recruitment and retention and could be crucial amid tech talent wars. But while it may seem like workers are losing the battle for remote work, research suggests that hybrid work is still the norm in the tech industry. While some large companies, such as Nvidia, have remained holdouts, most Big Tech companies have had hybrid policies of various degrees. So as long as productivity stays up, I think hybrid work is here to stay in the tech world."

Persons: —, Peter Cappelli, Nicholas Bloom, Bloom, Noam Shazeer, Cevat Aksoy, Aksoy, John Rossman, — it's Organizations: Amazon, Dell, Flex, Service, Wharton Business School, Big Tech, Stanford, Google, King's College London, Nvidia, Microsoft Locations: mull

☆ This is the cost of carrying too much cash, according to Wells Fargo
▼ + stars: | 2024-09-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Americans' love affair with cash may be costing them in the long run, according to Wells Fargo. A record $6.42 trillion is sitting in money market funds, as of Wednesday, according to the Investment Company Institute . The seven-day annualized yield on the Crane 100 list of the 100 largest taxable money funds is currently 4.75%. During Fed rate decreases, direct money market investments, like Treasury bills, will absorb the cuts quicker than money market funds. "A long-term risk of relying on money market funds as a sizable allocation is the cash drag over our strategic time horizon," she said.

Persons: Peter Crane, Crane, Michelle Wan, Wan, Wells Fargo, Brian Rehling Organizations: Investment Company Institute, Federal Reserve, Crane Locations: Wells Fargo

Chin-Hong said the variant is a so-called recombinant of two other strains — KS.1.1 and KP.3.3 — meaning that genetic information was exchanged between them to form a third strain, XEC, Chin-Hong said. Is the XEC variant more contagious? Chan School of Public Health, said there’s no evidence yet that the XEC variant is much more transmissible than what’s currently circulating. The variant is closely related to KP.2, the strain targeted by the updated vaccines from Pfizer and Moderna. Bright, however, cautioned that clinical data is ultimately needed to determine how well the updated vaccines work against the XEC variant.

Persons: “, ”, Peter Chin, ” XEC, we’re, Rick Bright, Hong, Bill Hanage, ” Hanage, It’s, XEC, Hanage, “ It’s, Marc Johnson, Johnson, There’s, ” Chin, ” Johnson, ” Bright Organizations: Centers for Disease Control, Prevention, University of California, Biomedical, Research, Development Authority, Department of Health, Human Services, CDC, Harvard, of Public Health, University of Missouri School of Medicine, Pfizer, Moderna Locations: United States, San Francisco, Europe, Chin, U.S, Chan, Germany, Netherlands, France

☆ Special counsel files evidence under seal against Trump in election subversion case
▼ + stars: | 2024-09-26 | by ( Tierney Sneed | Katelyn | ) edition.cnn.com time to read: +4 min

ET, according to Peter Carr, the special counsel office’s spokesman. It is likely the filings will dig into Trump’s pressure campaign on Pence – conduct that the Supreme Court indicated might be covered under immunity. The footnotes alone citing their various exhibits would account for more than 30 pages of the main brief, prosecutors have said. The former president vehemently opposed the plan to file the Smith immunity brief now, as his lawyers equated the brief to the types of special counsel reports that aren’t released until after the work of a special counsel is done. Trump will have the opportunity to respond to the prosecutors’ brief with a filing due October 17.

Persons: Jack Smith, Donald Trump, Mike Pence, Ivanka Trump, Mark Meadows, Tanya Chutkan, Peter Carr, Trump, Chutkan –, Pence, –, Smith, aren’t, Chutkan, ’, ” Chutkan Organizations: CNN, White House, Prosecutors Locations: United States

☆ Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
▼ + stars: | 2024-09-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive. The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Northvolt, which currently delivers batteries from its first gigafactory Northvolt Ett in Skellefteå, said in March that it had over 6,000 employees. The announced measures come as part of a broader strategic review and in response to what Northvolt described as "a challenging macroeconomic climate." Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry.

Persons: Northvolt, Peter Carlsson, Carlsson, — CNBC's Ryan Browne Organizations: Office, Monday, Volkswagen, Volvo Locations: Northvolt, Sweden, Skellefteå, Stockholm

☆ More than 700 former military and national security officials endorse Harris, say Trump is 'impulsive and ill-informed'
▼ + stars: | 2024-09-22 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

That is how we know Vice President Harris would make an excellent Commander-in-Chief, while Mr. Trump has proven he is not up to the job," they added. More than 700 former national security and military officials endorsed Kamala Harris for president over Donald Trump in the 2024 election in an open letter published Sunday by National Security Leaders for America. "President Trump is the only President in the modern era not to get our country into any new wars." Sunday's endorsement comes after 111 Republican former national security and foreign policy officials endorsed Harris in a letter Wednesday, saying that Trump is "unfit to serve again." Since then, the vice president has received endorsements from various high-profile Republicans, including Dick Cheney, former vice president to George W. Bush.

Persons: Peter Chiarelli, Paul Selva, Eric Thorne Olson, Trump, Harris, Hillary Clinton, John Kerry, of Defense Chuck Hagel, William Cohen, Hagel, Cohen, impulsiveness, Kamala Harris, Donald Trump, Steven Cheung, Dick Cheney, George W, Bush Organizations: Trump, U.S . Army, Joint Chiefs, Staff, of Defense, Democratic, National Security Leaders, America, Trump Campaign Communications, CNBC, Republican, Republicans Locations: United Kingdom, Israel, Australia, Canada, Germany, Kurdish, Syria

☆ Simone Biles leads star-studded cast of US gymnasts headlining ‘victory lap’ Gold Over America Tour
▼ + stars: | 2024-09-21 | by ( Coy Wire | ) edition.cnn.com time to read: +3 min

Biles said in a press release that she is “so excited” and described the tour as “a victory lap around the US.”“It’s more of a celebration tour,” Biles told CNN’s Coy Wire ahead of the tour’s upcoming fourth show in San Jose on Saturday. Biles and co. visited Los Angeles on Friday, with the next leg of the tour scheduled to take place in San Jose on Saturday. This is the second Gold Over America Tour that Biles has led. The tour has been referred to by its acronym “GOAT,” more than likely a nod to Biles’ legendary standing in professional gymnastics. Part of warmup for a recent involved a spot of “goat yoga,” which saw Biles and Chiles balance a live goat on their backs.

Persons: Simone Biles, Biles, ” Biles, CNN’s Coy Wire, “, Jordan Chiles, Naomi Baker, Diana Taurasi, Brittney, Jordan Chiles –, Paris Olympics – Jade Carey, Hezly Rivera, Joscelyn Roberson, ” Chiles, CNN’s, ” Paul Juda, Brody Malone, Frederick Richard, Richard, Peter Cziborra, Reuters Canada’s Peng, Peng Lee, Ellie Black, Mélanie, Jesus dos Santos, Casimir Schmidt, Chiles Organizations: CNN, America Tour, America, Phoenix Mercury, Saturday, Paris Olympics, Reuters Locations: United States, San Jose, Paris, Oceanside , California, Phoenix, Los Angeles, Denver, Chicago, Houston, Atlanta, Orlando, Detroit, Netherlands

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Stock futures are little changed as Wall Street anticipates a long-awaited Fed rate cut: Live updates
▼ + stars: | 2024-09-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange on June 12, 2024. Stock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation. Futures tied to the Dow Jones Industrial Average added 28 points, while S&P 500 futures hovered near the flatline. Investors remain on high alert ahead of the first expected rate cut from the Fed at the conclusion of its two-day policy meeting Wednesday. CME Group's FedWatch Tool shows traders pricing in a 63% chance of a 50 basis point cut, and 37% odds of a 25 basis point move.

Persons: Jerome Powell, Peter Cecchini, Axonic, CNBC's Organizations: Federal, New York Stock Exchange, Stock, Federal Reserve, Dow Jones, Nasdaq, Dow Jones Industrial, Fed

☆ Paramedic convicted in Elijah McClain's death set to be released from prison after judge modifies sentence
▼ + stars: | 2024-09-13 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

A judge in Colorado on Friday modified the five-year prison sentence for a paramedic who was convicted in the death of Elijah McClain to four years' probation. Peter Cichuniec, 51, was sentenced earlier this year after he was found guilty of criminally negligent homicide in the death of the Black pedestrian. He was sentenced in April to four years' probation for his role in McClain's death. She left the courthouse after he was sentenced to five years in prison with her fist in the air. A court filing against modifying the sentence indicated McClain's mother was against the move.

Persons: Elijah McClain, McClain, Peter Cichuniec, Mark Warner, Jeremy Cooper, “, Cichuniec, Philip Weiser, Sheneen McClain, Elijah's, ” Organizations: The Denver Post . Police Locations: Colorado, Aurora

☆ Battery giant Northvolt to lay off staff in huge cost-cutting drive amid EV market slowdown
▼ + stars: | 2024-09-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Northvolt, a key battery producer for Europe's electric vehicle industry, announced Monday that it plans to cut jobs, shut down one of its sites, and enter into discussions with partners and investors to secure the future of a facility in Poland. Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry. The battery maker cited a "challenging macroeconomic environment and our subsequent reassessment of Northvolt's near-term priorities" as the key reasons behind its decision to embark on the cost-cutting drive. Northvolt has faced a litany of pressures in recent months — not least the demand challenges facing the broader electric vehicle industry. BMW said at the time that the deal had been cancelled due to Northvolt being unable to deliver on time.

Persons: Northvolt, Peter Carlsson Organizations: Volkswagen, Volvo, Alternative Fuels, BMW, EV Locations: Poland, Stockholm, Sweden, Europe

☆ Money market funds hit another record high — but experts warn it's time to move out of cash. Where they see opportunity
▼ + stars: | 2024-09-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Assets in money market funds hit $6.3 trillion the week that ended Wednesday, another record high, according to the Investment Company Institute . The annualized 7-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.08%. History shows that when investors do move out of money market funds, they move into fixed income over equities, he said. Institutional investors will also continue to move into money market funds as the Fed cuts rates because any cash they have in direct money market investments, such as Treasury bills, will be hit by rate cuts quicker than money market funds, explained Peter Crane, founder of Crane Data, a firm that tracks the industry. Once you have the appropriate cash needs set aside, consider moving any excess funds into fixed income, Jenkin said.

Persons: Mark Cabana, Peter Crane, Crane, Ted Jenkin, Jenkin, Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Falconio Organizations: Investment Company Institute, Bank of America, Federal Reserve, Institutional, Crane, CNBC, American Express, Bread Financial, UBS, U.S . Locations: UBS Americas

☆ Dozens of business leaders endorse Kamala Harris for president
▼ + stars: | 2024-09-06 | by ( Liam Reilly | Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is the stronger candidate for the American economy and the future of democracy. In a three-page letter, a group of 88 business leaders — including high-profile current and former executives from major public companies across tech, media, and finance — emphasized that they believe a Harris administration can better nurture the private sector. The endorsements underscore the support Harris has not only in Silicon Valley, a traditional Democratic stronghold, but in some corners on Wall Street and at some consumer-facing companies. On the campaign trail, Harris has positioned herself as perhaps friendlier to business than President Joe Biden. The letter is a vote of confidence for Harris as she and former President Donald Trump appear neck and neck ahead of the November election.

Persons: Kamala Harris, —, Harris, “, James Murdoch, Mark Cuban, Reid Hoffman, Rupert Murdoch, Michael Lynton, Jeremy Stoppelman, Hoffman, Jeff Lawson, Laurene Powell Jobs, Peter Chernin, Jeffrey Katzenberg, Joe Biden, Trump, Elon Musk, David Sacks, San Francisco, Doug Leone, Joe Lonsdale, Peter Thiel, Donald Trump Organizations: CNN, CNBC, Democratic, Century Fox, Emerson Collective, TCG, Fox, Walt Disney Studios, Trump, San, Republican National Convention, America PAC, Sequoia Capital, Palantir, ABC Locations: Silicon Valley, United States

☆ New Covid shots are coming available. Here’s what experts say about when to get yours
▼ + stars: | 2024-08-23 | by ( Brenda Goodman | ) edition.cnn.com time to read: +5 min

CNN —Newly updated vaccines against Covid-19 will be in pharmacies soon, just as the US is experiencing a surge of infections. Experts say it depends on your health, whether you’ve recently had Covid-19, which vaccine you plan to get and when it’s convenient for you. For that reason, he’s going to hold off on getting the updated shot. Ranney noted that the updated mRNA shots from Pfizer and Moderna will probably be available first, with Novavax’s vaccine coming in a few weeks. “The reality is that we’ve had waves of Covid every summer for the last few years, and so I think we have to kind of do a reset or rethink about how we’re doing Covid vaccine delivery,” Hotez said.

Persons: you’ve, “ It’s, ”, Carlos del Rio, “, You’ve, Del, Paul Offit, Megan Ranney, Ranney, Peter Chin, “ I’m, I’m, you’re, ” Chin, Hong, Dr, Sanjay Gupta, Peter Hotez, ” Hotez Organizations: CNN, Covid, Emory University, Vaccine Education, Children’s Hospital of Philadelphia, Food, Yale School of Public Health, Pfizer, Moderna, University of California, ”, CNN Health, Texas Children’s Hospital Locations: Del Rio, San Francisco, Texas

It’s hard to condense a two-week period as jam-packed with memorable moments as these incredible Paris Olympics, but this is our best attempt. Bronze medalist Noah Lyles of Team United States reacts after competing in the Men's 200m Final on day thirteen of the Olympic Games Paris 2024 at Stade de France. Athletes dive into the Seine river to start the swimming stage of the men's individual triathlon at the Paris 2024 Olympic Games in central Paris on July 31, 2024. But Paris 2024 organizers insisted the water quality in the Seine was at a “very good” level on the morning of the individual triathlons. US' Cole Hocker crosses the finish line to win the men's 1500m final of the athletics event ahead of US' Yared Nuguse at the Paris 2024 Olympic Games.

Persons: Paris CNN —, Simone Biles, Biles, CNN Sport’s Coy Wire, ” Biles, “, ”, Imane Khelif, Khelif, Angela Carini, Carini, Algeria's Imane Khelif, Peter Cziborra, Reuters Peter Cziborra, Mark Adams, Khelif “, I’m, “ I’ve, Nabil Boudi, Katie Ledecky, Jenny Thompson, Ledecky, Katie Ledecky basks, CNN “, Philippe Katerine, Dionysus, Katerine, we’d, ” Katerine, Noah Lyles ’, Paris Noah Lyles, Kishane Thompson, Noah Lyles, Richard Heathcote, Justin Gatlin, Lyles, Botswana’s, Tebogo, Kenneth Bednarek, Anne, Christine Poujoulat, Léon Marchand, Leon Marchand, Quinn Rooney, Bob Bowman, Michael Phelps, Marchand, Yusuf Dikec, Ilayda, Cagla Gurdogan, Yusuf Dikeç, Dikeç, Turkey’s, Şevval Ilayda, Mondo Duplantis, Korea’s Kim Ye, Gabriel Medina, Kanoa Igarashi, Medina, Jerome Brouillet, Brazil's Gabriel Medina, Novak Djokovic, Djokovic outdueled Spain’s Carlos Alcaraz, Roland Garros, Djokovic, Rafael Nadal, Andre Agassi, Steffi Graf, Serena Williams, Carlos Alcaraz, Matthew Stockman, “ I’m, Sydney Mclaughlin, Tara Davis, Ryan Crouser, Cole Hocker, ANTONIN THUILLIER, —, Armand “ Mondo, Duplantis, USA’s Sam Kendricks, Karalis, Amanda Davies Organizations: Paris CNN, Paris, Olympic Games, Tokyo, Paris Olympics, CNN, CNN Sport’s, Reuters, International Olympic Committee, Olympic, Games, CNN Sport, “, Catholic, French Catholic Church, Paris Games, Stade de France, Team United, Getty, USA, Team USA, National Olympic Committees, Gold, Team France, Paris La Defense, Défense Arena, Tokyo Olympics, Agence France, Presse, Team Serbia, Spain, Woodhall Locations: France, Paris, Algerian, Los Angeles, French, Gaza, Ukraine, “, Jamaica, Athens, American, Lyles, Seine, AFP, Belgium, Switzerland, Nanterre, Turkish, Ankara, Turkey, Tahiti, Teahupo'o, Serbia, Tokyo, Swedish

☆ Opinion | Think You’ve Planned for Retirement? Beware the Tax Torpedo.
▼ + stars: | 2024-08-09 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Look out for the Social Security tax torpedo. It may be heading toward the hull of your retirement accounts as we speak. I’m in favor of taxing Social Security benefits, as the United States has done since 1983. In certain circumstances, because of the tax torpedo and another twist nicknamed the capital gains bump zone, someone in the 12 percent tax bracket who takes a $1,000 retirement distribution could end up paying $499.50 in tax — for a marginal rate of nearly 50 percent. There are ways to protect yourself from paying more tax than necessary, but they’re not simple.

Persons: Donald Trump’s Organizations: Social Security, Security, Internal Revenue Service Locations: United States

☆ Simone Biles handled herself 'beautifully' despite lots of pressure, says Octagon's Peter Carlisle
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSimone Biles handled herself 'beautifully' despite lots of pressure, says Octagon's Peter CarlislePeter Carlisle, Octagon managing director of the Olympics, joins 'Money Movers' to discuss what it takes to become an Olympic star, which celebrities have played their cards right, and whether there's a 'golden' sponsorship deal.

Persons: Simone Biles, Octagon's Peter Carlisle Peter Carlisle, Octagon

☆ Get ready for nasty layoffs and say goodbye to the 4-day workweek
▼ + stars: | 2024-08-06 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

It's a troubling thought, to be sure, but a longer workweek is already a reality for some workers. AdvertisementIt's the kind of thing that could make an employer less inclined to try something new — like a four-day workweek. Yet even without lackluster sales, Cappelli said, the four-day workweek was already unlikely to be widely adopted in the US. But, at the same time, Cappelli also doesn't think companies will push workers to come in on a sixth day. If companies use economic worries to reverse course on efforts like flexible work arrangements or to conduct layoffs, they put their own well-being at risk.

Persons: —, Peter Cappelli, Cappelli, Laxman Narasimhan, workweek, Brigid Schulte, Schulte, " Schulte Organizations: Service, Samsung, Business, Intel, Wharton Business School, Workers, Liquor, Diageo, New America Locations: Greece

But with major names headlining the 2024 event, tickets for the Ohana Festival are selling out fast. Here's what fans need to know to buy Ohana Festival tickets. Ohana Festival 2024 festival scheduleThe Ohana Festival is a three-day event held September 27 to 29 at Doheny State Beach. How to buy tickets for Ohana Festival 2024While original three-day and Sunday passes are sold out, the festival still has limited general admission single-day passes for Friday and Saturday. How much are Ohana Festival tickets?

Persons: Pearl, Sting, Pearl Jam, Neil Young, Garbage, Alanis Morissette, Devo, Marren Morris, Maren Morris, Ryan Beatty, Jaime Wyatt, Linka Moja, Jenny Lewis, Glen Hansard, Power, Joe Wong, Goldie Boutilier, Jam, Peter Cat, Kim Gordon, LA, Jesus, John Cruz Organizations: Business, Beach Boys, Sting, Doheny, Pearl, Crowded, Black Pumas, Breeders Locations: Doheny, Dana Point , California, Beach, Dogstar, Black, LA LOM, Santa

☆ Opinion | The Economist Who Predicted What Could Well Be the Next Recession
▼ + stars: | 2024-08-05 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

The economist and market strategist David Rosenberg took a lot of heat for predicting that the Federal Reserve’s big increase in interest rates would tip the U.S. economy into recession. “I spent most of the past year being absolutely beaten up,” he told me last week. “I had email from clients that you would not believe, and many cancellations.”The latest economic data, including a sharp slowdown in job growth in July, is indicating that Rosenberg may well have been right all along. I asked him if he feels vindicated. Stocks also slumped in Europe and were off to a bad start in the United States on Monday as I was finishing this newsletter.

Persons: David Rosenberg, ”, “, Rosenberg, Stocks Organizations: Federal, Nikkei Locations: U.S, Europe, United States

☆ Opinion | The Stock Market Dropped, but Don’t Freak Out
▼ + stars: | 2024-08-05 | by ( Peter Coy | ) www.nytimes.com time to read: 1 min

The secret to making money in the stock market is to buy low and sell high. Not buy high and sell low. So loading up on stocks when the market is breaking records and then dumping them when something bad happens is not the road to riches. Yet that’s exactly what a lot of investors are undoubtedly doing, or contemplating, right now. I typed “Should I” into the Google search bar on Monday and the first autocomplete choice was “Should I sell my stocks now?” The third choice was “Should I sell my stocks?”In between, by the way, was “Should I buy Nvidia stock?” Apparently, there are still some optimists out there.

Organizations: Nvidia

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