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☆ As the Social Security reform debate heats up on Capitol Hill, leaders weigh if raising taxes is the answer
▼ + stars: | 2023-07-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

When it comes to Social Security benefits, a key deadline is looming: Benefits may be reduced in the next decade if no action is taken sooner. The latest projections from the Social Security trustees show the program's combined funds may run out in 2034, at which point 80% of benefits will be payable. The fund used to pay retirement benefits may run out even sooner — in 10 years in 2033 — at which point 77% of those benefits would be payable. Social Security is a "pay as you go" program, Social Security Administration Chief Actuary Stephen Goss said at Wednesday's Senate hearing. More from Personal Finance:Social Security beneficiaries may see a lower cost-of-living adjustment in 2024Here's the inflation breakdown for June, in one chartSocial Security phone disruptions have led to longer wait timesIn 2023, up to $160,200 in earnings are subject to Social Security payroll taxes.

Persons: Actuary Stephen Goss, Goss, " Goss Organizations: Social Security, Capitol, Senate, Finance, Social

☆ TV reporter pleads guilty to using South Dakota Gov. Kristi Noem's cell number for prank call
▼ + stars: | 2023-05-10 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

A TV reporter made a prank call using South Dakota Gov. The reporter was fired from his job and has now pleaded guilty to a disorderly conduct charge. (AP) — A broadcast reporter pleaded guilty Tuesday to a misdemeanor disorderly conduct charge filed after he made a prank phone call using South Dakota Gov. Reporter Austin Goss pleaded guilty to the misdemeanor that stemmed from a pre-recorded prank call he made Jan. 22 to Dan Lederman, the former chairman of the South Dakota Republican Party. Reached by phone, Goss declined to give a comment about the call or his plea.

☆ The Coronation of King Charles: Order of Service
▼ + stars: | 2023-05-06 | by ( ) edition.cnn.com time to read: +46 min

The Archbishop saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? Christopher Finney GC saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? We praise thee, we bless thee,we worship thee, we glorify thee,we give thanks to thee for thy great glory,O Lord God, heavenly King, God the Father Almighty. O clap your hands together, all ye people;O sing unto God with the voice of melody. The King touches the Ring and the Archbishop saysReceive this Ring, symbol of kingly dignity and a sign of the covenant sworn this day, between God and King, King and people.

☆ Royal castles to luxury getaways: How to spend King Charles III's coronation weekend
▼ + stars: | 2023-04-26 | by ( Karen Gilchrist | Rob Goss | ) www.cnbc.com time to read: +7 min

The king has pledged a more scaled-back affair than that celebrated by his mother, the late Queen Elizabeth II, in 1953. Here's CNBC Travel's top picks for how to spend the coronation weekend. Watch the ceremonial processionThe coronation will take place at Westminster Abbey on May 6 in a service conducted by the Archbishop of Canterbury. Buckingham Palace, London residence of the reigning monarch of the United Kingdom, is open for tours outside of the coronation weekend. Picnic in the Royal ParksLondon's Royal Parks offer a more low-key way to absorb the royal atmosphere over the coronation weekend.

☆ As possible Social Security benefits cut looms, GOP senator says lawmakers are working on a 'big idea' fix
▼ + stars: | 2023-04-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Nicholas Kamm | AFP | Getty ImagesSocial Security's trust funds have a new projected depletion date that is about a decade away. The idea calls for creating an investment fund separate from Social Security and allowing the investment to earn returns over a period of 70 years, Cassidy said. It would target the Social Security trust funds' biggest weakness, which is that it has "the absolute worst investment strategy you could have right now," Cassidy said. 'Big idea' inspired by private pensionsThe idea for investing Social Security's funds in the market is inspired by private pension funds, which already buy securities outside of Treasurys. Possible changes to fix Social Security generally include tax increases, benefit cuts or a combination of both.

☆ New reports say business travel isn’t going back to normal — ever
▼ + stars: | 2023-04-24 | by ( Monica Pitrelli | Rob Goss | ) www.cnbc.com time to read: +5 min

The days of high-flying, big-spending business travel may be over for good. As a new report by research company Morning Consult declared: Business travel will never return to normal. Tighter corporate budgets and new ways of virtual working have permanently changed business travel, according to the report, titled "Business, but Not as Usual." A different business travel model is slowly but surely becoming entrenched, crystallizing a "new normal" for the industry, according to the report. Bright spots for business travelBut there are several bright spots for those cheering the robust return of business travel, according to the reports.

☆ The priciest tickets for Singapore's Formula One night race are gone — and others are going fast
▼ + stars: | 2023-04-20 | by ( Monica Pitrelli | Rob Goss | ) www.cnbc.com time to read: 1 min

So much for cheap tickets selling out first. The priciest tickets to attend Singapore's Formula One race this year are gone, despite being priced at an all-time high of 11,016 Singapore dollars ($8,260) for a three-day pass. Tickets for the "Paddock Club" entitle ticketholders to air-conditioned suites, unlimited Champagne, food and live performances, plus "exclusive access to the coveted daily Pit Lane Walk which gives an up-close view of the F1 cars, garages, and crew," according to the race website. Sunday night tickets for the Paddock Club, which overlooks the pit garage, are gone, though tickets for Friday or Saturday, which sell for $2,808 and $4,104 respectively, are still available, according to the website.

☆ Beyond Kyoto: Japan recommends 11 lesser-known spots to visit
▼ + stars: | 2023-04-19 | by ( Rob Goss | ) www.cnbc.com time to read: +8 min

Japan wants travelers to go beyond the country's iconic tourist sites — and consider spending their yen in lesser-known locations. CNBC Travel takes a look at what each of the 11 spots has to offer travelers — whether or not they're wealthy. Koichi Kamoshida | Getty Images News | Getty ImagesIse-shima is arguably the "model destination" most ready to welcome the JTA's wealthy targets. Kagoshima, Aso and UnzenThe island of Kyushu in western Japan feature everything from active volcanoes to glimpses of samurai culture. Okinawa and AmamiIn 2021, Amami-Oshima Island, Tokunoshima Island, the northern part of Okinawa's main island, and Iriomote Island were given joint UNESCO Natural World Heritage status for their biodiversity and endemic wildlife.

☆ The drama and politics in my office are so distracting that I have to work harder to make up for lost time
▼ + stars: | 2023-04-03 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Insider's latest work-advice column is about how to handle the drama seekers in your office. I often feel myself drawn into it, and then I'm less productive and I have to work harder to make up for lost time. After all, we spend most of our waking hours at work, going to and from work, and thinking about work. You need to make a concerted effort to preserve your well-being, Lyons said. And for my fellow drama kings and queens, maybe it's time we hang up our crowns — at least some of the time.

☆ Natural disaster-hit countries get automatic debt freeze option
▼ + stars: | 2022-11-09 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 9 (Reuters) - Countries hit by climate change-driven disasters such as flooding and hurricanes will automatically be able to freeze debt payments under new plans laid out by the bond market rule setting International Capital Market Association (ICMA). ICMA's move on Wednesday introduced new "climate resilient debt clauses" (CDRCs) that countries can now plug into the government bonds they sell to raise money on the international capital markets. Any country that uses them will be able to defer their debt payments for a maximum of 2 years, with the aim of giving them enough financial breathing space to provide aid and support to affected populations. "As well as supporting disaster resilience by freeing up cash flow, CRDCs could help avoid the liquidity challenges faced by low-income countries in such circumstances becoming costly payment defaults," ICMA said. ICMA said while technically no country is excluded from using CRDCs, they were likely to be most suitable for low-income countries, Small Island Developing States, or other developing countries particularly vulnerable to climate change.

☆ Analysis: Twitter's 'massive' revenue drop adds to heavy debt burden
▼ + stars: | 2022-11-07 | by ( Matt Tracy | ) www.reuters.com time to read: +4 min

loadingYet even before this upheaval, Musk had engineered an acquisition that pushed the San Francisco-based company's finances to the edge. It's not clear how much of the $5.29 billion debt Twitter had before the acquisition was refinanced or remained with the company. Debt investors and analysts said Musk needs to ensure the company is profitable enough to meet its debt payments or it will require a cash infusion. If he can generate enough revenue to diversify Twitter's profits without alienating users, that would be a boon, credit analysts said. BRAND ADVERTISINGIn their note, S&P analysts also said that an expected economic recession would weigh on Twitter's advertising revenue next year.

☆ Goldman says buy this under-the-radar biopharma stock expected to rally nearly 80%
▼ + stars: | 2022-10-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

This little-known California-based biopharmaceutical stock can see its shares rally nearly 80% in the near term, according to Goldman Sachs. Shares of the company's stock were up more than 5% in trading Thursday on the back of Choi's call. The analyst also sees promise in the company's pipeline of Bruton's tyrosine kinase inhibitor drugs, currently in the works to treat a slew of conditions including some forms of lymphoma and potentially multiple sclerosis. The bank's price target suggests shares can soar another 78% from Wednesday's close. "We are broadly bullish on GOSS's pipeline and view the risk/reward profile at current levels as favorable," he said.

☆ Facebook whistleblower, former defense and intel officials form group to fix social media
▼ + stars: | 2022-10-12 | by ( Lauren Feiner | ) www.cnbc.com time to read: +5 min

A Facebook whistleblower, two former U.S. defense secretaries, several past lawmakers and intelligence chiefs are forming a new group to address the harmful impacts social media can have on kids, communities and national security. The council said it aims to drive bipartisan conversation around tech in Washington, D.C., and across the country, elevate nonpartisan voices like parents and pediatricians, and advance effective solutions to reform social media. Haugen said the issues stemming from social media are truly bipartisan in nature, which could be made more clear by avoiding framing them as issues of content moderation. Many conservatives are skeptical of content moderation because they believe platforms can use it to censor certain viewpoints, though mainstream platforms have repeatedly denied they do so. Haugen said she sees content moderation as largely a "distraction from the real path forward, which is around product design, safety by design, transparency."

Typically, banks would sell the debt to investors and pocket an underwriting fee. Elon Musk vs TwitterThe debate, currently a topic of conversation among investment bankers and debt investors, provides a window into the havoc wreaked on Wall Street by Musk’s U-turn last week. Musk, however, conditioned his proposal on his ability to secure debt financing and now has until Oct. 28 to close on the transaction. VARIOUS OPTIONSThe debt financing package is comprised of leveraged loans, which are risky because of the amount of debt the company is taking on, as well as secured and unsecured bonds. In September, banks financing the Citrix buyout undertook a similar restructuring.

☆ Black women in the legal world celebrate Ketanji Brown Jackson's historic Supreme Court nomination as a 'victory' for all Americans
▼ + stars: | 2022-03-03 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +13 min

The two were enrolled in the same classes, both members of the Black Law Students Association, and lived in the same dormitory building. Black women in the legal world celebrated Jackson's Supreme Court nomination, a milestone that they said marks significant progress for their representation in the legal field, but also for the country as a whole. Installing judges of diverse backgrounds can better ensure the legal system is working equitably for all Americans, Black women in the legal field told Insider. "Now when I tell her, 'You could be a Supreme Court justice,' she can look at the Supreme Court and think, 'Yes, I could, there's someone there who looks like me.'" MoveOnORG activists call for the immediate confirmation of Judge Ketanji Brown Jackson for the Supreme Court on February 25.

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