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The addition of Gabbard is particularly notable given the tense exchanges she had with the vice president during their 2020 race that left Harris rattled. Trump’s team has been sketching out potential responses on reproductive rights with the expectation Harris will make that a focus during the debate. The Trump campaign has insisted the matter is settled. Thus far, no one is expected to sit in for Harris, just as no one played Biden ahead of the June debate. It’s the second time the vice president will visit the city this week after campaigning with Biden on Labor Day.
Persons: Donald Trump, Kamala Harris, Harris, , Trump, Joe Biden, Tulsi Gabbard, Harris ’, Biden, Trump’s, Ohio Sen, JD Vance, Rohini Kosoglu, Karen Dunn, Sheila Nix, Sean Clegg, Philippe Reines, Hillary Clinton, Clinton, overconfidence, J.B, Pritzker, underestimating Trump, , , “ They’re, ” Trump, Jason Miller, Vince Haley, Stephen Miller, Matt Gaetz, Don’t, Donna Brazile, Al, ” Brazile, “ Don’t, won’t, Mike Pence, Pence, Mr, ” Harris, It’s, Barack Obama Organizations: Washington CNN, National Constitution Center, Democratic, Trump, Biden, CNN, Illinois Gov, Republican, Florida, ABC, Union, Clinton, , Labor Locations: Philadelphia, Hawaii, Bedminster, Mar, Lago, Manhattan, Harris, Trump, State, Pittsburgh, she’s, Maryland, Las Vegas, Williamsburg , Virginia
Japan's Prime Minister Fumio Kishida announced Wednesday he will not be running in the Liberal Democratic Party presidential election due next month. He added that he felt the need to step down in order for the LDP to regain the public's trust. The prime minister also pledged to fully support the new leader. Kishida's decision to not run for reelection effectively means he would step down as prime minister when the party elects a new leader. According to the latest opinion poll by NHK, the number of people who "support" the Kishida cabinet stands at 25%, while 55% do not.
Persons: Fumio Kishida, Kishida Organizations: Japan's, Liberal Democratic, LDP, Kyodo, NHK
Now the central bank is mulling over when to do something it hasn’t done since the darkest days of the pandemic: cut interest rates. “A rate cut could be on the table in the September meeting,” Fed Chair Jerome Powell said on Wednesday, immediately jolting markets. When will the Fed cut rates? Rate cut probabilityThat said, investors are entirely convinced the Fed will cut rates at their September meeting, according to Fed funds futures data. Torsten Slok, Apollo Global’s chief economist, is maintaining his prior forecast that the Fed won’t cut rates at all this year.
Persons: Jerome Powell, we’re, It’s, Powell, , ” Powell, Torsten Slok, Apollo Organizations: New, New York CNN, Federal Reserve, Fed, European Central Bank, CNN Locations: New York,
Yen braces for BOJ decision with risk events aplenty
  + stars: | 2024-07-31 | by ( ) www.cnbc.com   time to read: +4 min
That is followed by inflation readings in France and the wider euro zone later in the day, alongside the Federal Reserve's policy decision, which takes center stage. With plenty of risk events to mark the month-end, currency moves were largely subdued in early Asia trade as investors were hesitant to take on fresh positions. "We anticipate that the BOJ will increase interest rates to around 0.25% at the upper limit." "A rate hike could help stabilize the yen's current levels, whereas the absence of a rate hike may trigger renewed selling pressure driven by carry trades." The yen similarly made headway against other currencies, with the euro falling 0.07% to 165.07 yen and the Australian dollar slipping 0.12% to 99.80 yen.
Persons: Gregor Hirt, Sterling eked, Julien Lafargue Organizations: Bank of Japan, Federal, CIO, Allianz Global Investors, Traders, Barclays Private Bank, New Zealand Locations: Bank, France, Asia
Read previewWhoever emerges as Vice President Kamala Harris' running mate has the potential to dramatically reset the 2024 presidential race. AdvertisementShould Harris select Walz, it'd indicate her intent to compete hard in the key battlegrounds of Michigan, Pennsylvania, and Wisconsin. But even when Biden was still in the race, Walz zeroed in on Vance. Walz then described both Vance and Trump as "robber barons" who have done more harm than good to the Midwest. Vice President Kamala Harris is expected to select her running mate ahead of the Democratic National Convention.
Persons: , Kamala Harris, Donald Trump, Ohio Sen, JD Vance, Joe Biden's, Harris, who's, Tim Walz, Walz, who'd, it'd, Vance, Trump . Walz, Biden, Walz zeroed, " Walz, Trump, he's, Jim Vondruska, counteracts Harris, It's Organizations: Service, Ohio, GOP, Business, Democratic, Minnesota Gov, Trump, Sun, Midwest, Democratic National Convention, Democrats, Republicans, Republican National Convention, , CNN Locations: Minnesota, Nebraska, Michigan , Pennsylvania, Wisconsin, Midwest, Vance, America, Michigan, Pennsylvania, Arizona , Georgia, Nevada, North Carolina, San Francisco Bay, Illinois , Indiana , Michigan , Ohio
Roland Garros, Paris CNN —There is a notable absence among Novak Djokovic’s 98 career singles titles, but the Serbian star is hoping to change that over the coming weeks. In the end, Djokovic progressed with ease, potentially setting up a thrilling second-round match against Rafael Nadal. It’s a feat, sometimes described as a career golden slam, only achieved by Steffi Graf and Serena Williams in the women’s game. “Playing in the Olympic Games is very rare for us tennis players,” Djokovic told reporters, ”and of course for anybody, as it comes every four years. The early stages of the match were particularly one-sided, with Djokovic taking the first set with back-to-back aces in just 24 minutes.
Persons: Roland Garros, Novak Djokovic’s, Djokovic, Australia’s Matthew Ebden, Chatrier, Ebden, Rafael Nadal, Nadal, Andre Agassi, Steffi Graf, Serena Williams, ” Djokovic, Carlos Alcaraz, Andy Cheung, strapping, Holger Rune’s, Anna Wintour, Djokovic's, Patricia De Melo, Hungary’s Marton Fucsovics, , , I’ll Organizations: Paris CNN, Games, Olympic, Wimbledon, Ebden, Getty, Locations: Paris, Serbian, Serbia, Tokyo
New York CNN —Tech shares led a selloff Wednesday after lackluster earnings reports from two of the market’s most prominent heavyweights. The Nasdaq Composite declined 3%, on pace for its worst daily percentage decline since December 2022. The electric vehicle maker faces growing competition from established automakers domestically and internationally and a slowdown in EV sales growth. Wall Street has rotated out of the tech bigwigs that led stocks higher over the past year in favor of smaller stocks that have been beaten down by sky-high rates. The Russell 2000, which tracks the performance of US small-cap stocks, is up 9.3% for the month, outperforming the S&P 500’s 0.1% loss.
Persons: didn’t, Russell, cybercriminals, Biden Organizations: New, New York CNN — Tech, Nasdaq, Dow, YouTube, Federal Reserve, Investors, Bloomberg Locations: New York, China
Earn 5.26% APY with a NexBank High Yield Savings Account. It got me thinking about the money I have stashed away in my current high-yield savings account at Ally, paying 4.20% APY. Here's why I'm sticking to my current savings account. With Ally, I can enjoy the fact that there are no monthly account fees, nor a minimum balance requirement. That's more money than I would ever feel comfortable keeping in a short-term savings account, let alone locked for a long stretch.
Persons: I've, Ally, There's, you'll Locations: Michigan
New York CNN —Stocks are soaring this year, but that could soon change as election chaos takes the market on a rollercoaster ride. But this has been a destabilizing week for US stocks and the market trajectory could be shifting. The Dow was down more than 430 points, or 1%, in the morning trading session on Friday as the tech outage continued to rattle investors. Former President Donald Trump, meanwhile, said in an interview with Bloomberg that Taiwan should pay for its own defense. The bright sideInvestors have been largely resilient this year and some financial bigwigs say the election won’t change that.
Persons: Donald Trump, Joe Biden, Dow, , , , Jim Reid, Biden, they’re, Scott Wren, Wells, Jerome Powell, Liz Young Thomas, Russell, Young Thomas, ” Trump, CrowdStrike, JPMorgan Chase, Jeremy Barnum, isn’t Organizations: New, New York CNN, Investors, Big Tech, Nasdaq, Deutsche Bank, Democratic, , Treasury, Fed, Tech, Bloomberg, Taiwan Semiconductor Manufacturing, Nvidia, Microsoft, Meta, JPMorgan Locations: New York, Iran, Israel, Wells Fargo, , China, Taiwan
New York CNN —US stocks sold off broadly Thursday as Wall Street continued to shed tech stocks. The Dow fell 464 points, or 1.1%, retreating from a record high reached a day ago. Investors have this week moved out of the Magnificent Seven tech stocks that powered the market to repeated record highs this year. Shares of smaller companies that tend to do well in a lower-rate environment began rallying last week, helping the Dow reach fresh highs. Tech stocks also took a hit this week after Bloomberg reported Tuesday that the Biden administration is mulling plans to impose more sanctions on Chinese tech firms and to heighten semiconductor trade restrictions between the US and China.
Persons: Dow, , Louis Navellier, Russell, Tesla, Biden Organizations: New, New York CNN, Nasdaq, Wednesday . Energy, Navellier, Associates, Federal Reserve, Dow, Nvidia, Microsoft, Meta, Tech, Bloomberg Locations: New York, China
In today's big story, we're looking at why reports of more potential trade restrictions have chip companies on their heels . Trade restrictions are certainly real concerns for chip companies. AdvertisementThe supply-chain base for most of the chip industry is in Taiwan, specifically TSMC. Politicians and regulators have no interest in making American AI companies less competitive and demand is still extremely high. With so much geopolitical tension, is it possible the chip industry becomes more regionalized?
Persons: , Dan Schneider's, Rebecca Zisser, Joe Biden, Insider's Kelly Cloonan, Biden, chipmakers, Trump, Emma Cosgrove, It's, Marianne Ayala, aren't, Dan Ives, influencers, Donald Trump, JD Vance, Tyler Le, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Dan Schneider's Nickelodeon, Business, Nvidia, AMD, Bloomberg, China, YouTube, JPMorgan, Apple, Republican National Convention, Netflix Locations: China, Netherlands, Taiwan, Texas, California, New York, London
New York CNN —Tech shares slumped Wednesday as investors shed the behemoths that fueled Wall Street’s monster stock rally this year. The Nasdaq Composite index tumbled 2.8%, logging its worst day since December 2022. Investors are also selling tech stocks after a cool inflation report last week and stronger-than-expected retail sales data on Tuesday pushed up bets for a rate cut in September. The Magnificent Seven tech stocks, which have led most of the gains this year thanks to the artificial intelligence boom, tumbled. Microsoft (MSFT) shares fell 1.3%, Apple (AAPL) shares slid 2.5%, Amazon (AMZN) shares declined 2.6%, Alphabet shares declined 1.6%, Tesla shares slipped 3.1% and Meta Platforms shares lost 5.7%.
Persons: Biden, Russell Organizations: New, New York CNN — Tech, Dow, Nvidia, Devices, Bloomberg, US Commerce Department, Microsoft, Apple, Meta Locations: New York, China
Before you pack your bags, consider when you should book an all-inclusive vacation and when you should book separately. According to Travelzoo's senior editor Gabe Saglie, booking an all-inclusive vacation package can make the entire trip planning process much easier. "If you go with an all-inclusive vacation package as-is, you need to make sure the package offers what you want or are looking for from your vacation," he said. Sandra Duarte / EyeEm / Getty ImagesAll-inclusive vacation packages are great options for travelers who want to stay mostly in one spot. One may be more cost-efficient than the otherSometimes, all-inclusive packages can be a better deal than booking your reservations individually, according to Saglie.
Persons: , Travelzoo's, Gabe Saglie, Saglie, Salie, I've, Sandra Duarte, you've, Oswaldo Rivas Organizations: Service, Business, Reuters, Oswaldo Rivas Travelers Locations: Caribbean
Read previewFor most of President Joe Biden's White House tenure, Republicans have floated theories about the president's health and cast doubt on the veteran Democrat's leadership. Biden sought to use the debate to gain some momentum in a race that for weeks showed him tied with Trump in national polls. In the weeks leading up the Democratic National Convention in Chicago, this is not where the Biden campaign thought it'd be. But the former president is not in the clear in the eyes of the public, despite this week's Supreme Court ruling. Should Biden step aside, a more popular Democrat — backed by a party itching to defeat Trump again — could easily dispatch the former president in November.
Persons: , Joe Biden's, Donald Trump —, Biden, Trump, Biden's, Roe, Wade, they've, it'd, Mike Howell, Kamala Harris — who'd Organizations: Service, Republicans, Business, Trump, USA, Suffolk University, The New York Times, Siena College, Capitol, Democratic National Convention, Democratic, The Washington Post, Republicans pummeled Democrats, Biden, Daily Locations: Washington, Chicago
Last year, a California task force issued a seminal report urging reparations for Black residents that could add up to hundreds of billions of dollars. But the state’s new $298 billion budget, signed Saturday after a woeful run for California finances, is offering a much more modest beginning: $12 million. The budget does not call for immediate cash payments for Californians whose lives were shaped by injustices. Instead, it promises some state money if lawmakers agree on proposals that supporters see as early steps to repair the consequences of California’s past. Some lawmakers, though, have nevertheless welcomed the money as a start after the state scrambled to close a $47 billion shortfall.
Persons: ” Assemblywoman Lori D, Wilson, , Organizations: Legislative Black Caucus Locations: California, Northern California
Louisa Rogers is intentional about strengthening connections with old friends. Courtesy Louisa RogersAlways be open to new connectionsI keep an eye out for potential candidates because I've lost friends to moves and deaths. Stay connected with old friends online and in personWhile I was growing up, my family moved a lot, so I treat old friends as my roots. Focus more on individual friends than couple friendsBarry and I don't have many couple friends, and for a long time it bothered me that we've rarely been part of what our single friends call the "couple culture." But I find couple friends to be overrated — a four-way quadrant dynamic is usually less intimate than a one-on-one or three-way connection.
Persons: Robbie, we'll, Barry, we've, Beth, Sue, Louisa Rogers, I've, I'd Organizations: Business, Girl Scouts Locations: Eureka , California, Eureka ., East Coast, Guanajuato, Mexico
A staff wanted sign in the window of a restaurant in the Soho district of London, U.K., on Tuesday, Sept. 7, 2021. LONDON — U.K. unemployment unexpectedly rose to its highest level in two and a half years, data showed Tuesday, amid a heated general election campaign in which the economy is a key battleground. Simultaneous strong wage growth divided opinions from market-watchers mulling the timing of an interest rate cut from the Bank of England. While market pricing on Tuesday suggested next to no chance of a rate cut at the BOE's June meeting, and a 36% shot in August, that probability rises to nearly 60% for the September deliberations. Consultancy Capital Economics said that, while the stickiness of wage growth would be a "lingering concern" for the BOE, the rate should soon be on a "firm downward path" as unemployment rises.
Persons: Richard Carter, Cheviot, BOE, Capital's, Ruth Gregory, Rishi Sunak, Keir Starmer, Sunak, We've, it's, Starmer Organizations: LONDON, Bank of England, National Statistics, Reuters, Consultancy Capital Economics, Conservative Party, Labour, Conservatives Locations: Soho, London
Beyond the sputtering Turkish economy – many pundits blamed the electoral setback on his stance on Israel and its war in Gaza. There are no sanctions, no concrete steps taken, trade with Israel still continues,” said New Welfare’s leader Fatih Erbakan in March. For Erdogan, ‘Hamas is Palestine’Experts say the comment made by Erdogan in the presence of the Greek leader may have in fact been intended for an audience closer to home. Chris McGrath/Getty Images“For Erdogan, Hamas is Palestine. Turkish President Recep Tayyip Erdogan (C) and state officials in Ankara, Turkey on October 29.
Persons: Recep Tayyip Erdogan, , Hitler, Erdogan, Erdogan’s, , Fatih Erbakan, Israel, Seda, “ Erdogan, Ismail Haniyeh, Handout, Murat Cetinmuhurdar, ” Erdogan, Kyriakos Mitsotakis, ” Mitsotakis, misspoke, Gazans, , Evren Balta, Chris McGrath, ” Balta, Ozgur Ozel, Mustafa Kemal Ataturk, , Ekrem Imamoglu, they’ve, Fabrice Pothier, Jens Stoltenberg, Akif Cagatay Kilic, Haniyeh “, hasn’t, Benjamin, Netanyahu –, isn’t, Hakan Fidan, Fidan, Antony Blinken, Adem Altan, Balta, Turkey isn’t, Pothier, it’s Organizations: Turkey CNN, Palestinian, NATO, New Welfare, New, Isik University, CNN, Welfare, Israel, International Court of Justice, of Independence, Anadolu, Getty, TRT, Greek, , Turkish Ministry of Health, Ozyegin University, West Bank, CHP, Rasmussen Global, German Press Agency, Hamas, Turkish, Qatar, Turkish Foreign Ministry Locations: Istanbul, Turkey, Gaza, Israel, Turkish, of, Ankara, , , Palestine, NATO, Palestinian, Washington, Tehran, AFP, Iran, Qatar
Elon Musk says he hasn't talked to Donald Trump about joining his government if Trump's elected. Musk was responding to earlier reports saying that Trump was mulling an advisory role for him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk says he hasn't spoken to former President Donald Trump about joining a second Trump administration. This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, hasn't, Donald Trump, Trump's, Musk, Trump, Joe Biden, Organizations: Trump, Service, Trump Presidency, SpaceX, Street Journal, Business
Washington CNN —The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June. Hammack, 52, joins the Cleveland Fed after three decades at Goldman Sachs. She is slated to vote on monetary policy decisions as of August 21, when her term officially starts. For the July meeting of the Federal Open Market Committee, Cleveland Fed Vice President Mark S. Meder will be voting. The central bank is currently mulling when to begin cutting interest rates after raising them to a two-decade high last summer.
Persons: Beth M, Loretta Mester, Goldman Sachs, Mark S Organizations: Washington CNN, Federal Reserve Bank of Cleveland, Cleveland Fed, Federal, Market, Fed Locations: Hammack
AdvertisementThe market should be careful what it wishes for when it comes to rate cuts from the Federal Reserve. Ed Yardeni, a longtime market veteran, has warned of a stock market "meltup" if the Fed were to cut interest rates this summer. High interest rates on risk tipping the economy into recession, but lowering rates too quickly risks a resurgence in inflation, which could slam American consumers. Fed officials have said they're looking for more evidence inflation is on track to fall to its 2% price target before mulling rate cuts. AdvertisementFor the most part, investors aren't expecting interest rates to come down before September.
Persons: Ed Yardeni, meltdowns, Yardeni, , they're Organizations: Service, Federal Reserve, Bloomberg, Yardeni, Fed
AdvertisementSo who is Larry Page and how did he get to where he is today? AdvertisementPage and Sergey Brin create GoogleGoogle co-founders Sergey Brin and Larry Page met as students at Stanford. Google's parent company, Alphabet, has developed self-driving cars through Waymo, the company formerly known as the Google Self-Driving Car project. Page's personal lifeGoogle cofounder Larry Page and his wife, the scientist Lucinda Southworth C Flanigan/FilmMagicThroughout it all, Page has kept information about his personal life closely guarded. Life after GoogleGoogle cofounder Larry Page bought Cayo Norte, an island in Puerto Rico.
Persons: , Larry Page, Sergey Brin, Page, Sundar Pichai, Gloria, Carl Page —, Larry, what's, Nikola Tesla, he's, Brin's, BackRub, Brin, Eric Schmidt, Schmidt, Andy Rubin's, he'd, Andrew Kelly, Sergey, Lucinda Southworth C, Lucinda Southworth, Richard Branson, Page's, Carl Victor Page, Carl Page, He's, Hugh Langley Organizations: Service, Google, Business, Michigan State University . Education, Getty, Michigan State University, The, Montessori, Google Google, Stanford, Associated Press, University of Michigan, Labs, Reuters Page, Virgin Group, Investments, Carl Victor Page Memorial Foundation, Zee Aero, Pacific, Virgin Island, Atomic Locations: Michigan, Waymo, Toronto, Stanford, Caribbean, Palo Alto, Cayo Norte, Puerto Rico, Koop, Tavarua, Fiji
That goes for summer interns, too, and may be especially important for them considering the bar to entry is high at Balyasny. The firm said it usually converts about 50% of its top-performing summer interns into full-time hires. AdvertisementThe hedge fund also has a formal feedback process where interns get a progress report about halfway through the summer, and again at the end. Anna Gietl, intern summer of 2022 BalyasnyDon't just hear feedback — implement itBalyasny's culture is about more than accepting feedback or seeking it out. Feedback can also be a catalyst to help build connections and solicit mentorship from people outside your team, Gietl added.
Persons: Hannah Dinardo, Dinardo, San Francisco —, execs, Dmitry Balyasny, Brendan McDermid, aren't, it's, Andrew McHugh, Anna Gietl, Gietl, , I've, Balyasny, It's, McHugh Organizations: Service, Business, BAM, Balyasny Asset Management Locations: York, New York, Chicago, Austin, Houston, San, London , Hong Kong, Singapore
The US paused a shipment of bombs to Israel last week amid rising concerns over a Rafah assault. Israeli soldiers work on armored military vehicles at a staging ground near the Israeli-Gaza border, in southern Israel on May 8, 2024. That would be a more difficult fight for the Israeli military, Byman said. A view shows Israeli F-16 fighter jets on a runway in an airbase in southern Israel on March 4, 2024. It is not necessarily an unprecedented move, as past US administrations have also threatened to withhold military support from Israel.
Persons: Joe Biden, , Israel, Biden, Benjamin Netanyahu's, Daniel Byman, Byman, Israel's, CNN's Erin Burnett, We're, Raphael Cohen, Cohen, Hatem Khaled, John Kirby, Mohammed Salem, Netanyahu Organizations: US, Service, AP, State Department, Attack Munitions, Transnational, Center for Strategic, International Studies, Hezbollah, REUTERS, RAND Corporation, AIR FORCE, US Army Reserve, White House National Security Council Locations: Israel, Washington, Gaza, Rafah, I'm, Egypt
No, seriously. Where are the TikTok buyers?
  + stars: | 2024-05-08 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +2 min
Former Google CEO Eric Schmidt has decided against buying TikTok. That leaves a really tiny list of people who say they want to buy TikTok. AdvertisementWho's going to buy TikTok? [Crickets]Yes, if you Google "potential TikTok buyers" you'll find a bunch of stories — Business Insider has written one, too — speculating about names. They list Mnuchin as well as Shark Tank host Kevin O'Leary, who also likes to go on TV and talk about buying TikTok.
Persons: Eric Schmidt, , Steve Mnuchin, ByteDance, Kevin O'Leary, Bobby Kotick, OpenAI's Sam Altman, we've, Trump Organizations: Google, Service, Treasury, TV, Street Journal, Activision, Oracle, Walmart, Microsoft, Big Tech, McKinsey, TikTok
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