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☆ Deutsche Bank snaps 15-quarter profit streak on Postbank lawsuit provision
▼ + stars: | 2024-07-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt. Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division. The long-running lawsuit by investors alleges Deutsche Bank underpaid to take over the retail banking giant in 2010. Other highlights included:Profit before tax excluding the Postbank provision was 1.7 billion euros, up from 1.4 billion euros in the second quarter of 2023. Provision for credit losses was 476 million euros, up from 401 million euros a year ago.

Persons: Deutsche Bank CEO Christian Sewing, James von Moltke, CNBC's Caroline Roth, that's, Von Moltke, we'd, Italy's Organizations: Deutsche Bank, United Kingdom . Deutsche Bank AG, Deutsche Bank CEO Christian, Spain's Santander Locations: City of London, London, United Kingdom, German, Frankfurt

☆ ‘Barbie’ was important to me. This summer has melted her
▼ + stars: | 2024-07-21 | by ( Scottie Andrew | ) edition.cnn.com time to read: +8 min

Watching “Barbie” so much defined the back half of my 2023. The summer of “Barbie” was one of my happiest, when I felt truly connected to my fellow humans. Watching “Barbie” again and again nudged me out of an isolation I hadn’t even realized I’d imposed. Once Gosling finished his dazzling Oscars performance of “I’m Just Ken,” “Barbie” fever officially ended. But we’ll always have our “Barbie” summer.

Persons: “ Barbie, ” I’ve, I’ve, Barbie ”, “ Barbie ”, Barbie, Ryan Gosling, Ken, Will Ferrell, ” John Cena, Margot Robbie, ”, ” Oppenheimer, “ Oppenheimer, Nolan, Stephanie Keith, Stephen Malkmus, Issa, America Ferrara, who’s, nudged, ‘ Barbie ’, Helen Mirren’s, “, Barbara ”, Greta Gerwig’s, Gosling, “ I’m, I'm, ergy, who’d, It’s, we’ll Organizations: CNN, Sex, Warner Bros ., Warner Bros, America, Gran Turismo Locations: pinks, Barbie, Robbie’s, Atlanta

☆ This week's 'manic market' action looks a lot like the dot-com bust in 2000, economist David Rosenberg says
▼ + stars: | 2024-07-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The past week's tumultuous stock market action harkened back to the dark days of 2000 as the dot-com bubble was bursting, according to economist and strategist David Rosenberg. With tech leaders sagging and investors heading for cover, the widely followed market bear sees similarities between two eras that showed overheated investor sentiment and an overvalued market. "The massive daily swings reflect a manic market becoming unglued," the head of Rosenberg Research wrote in his daily market note Friday. "The action is highly reminiscent of what happened in the immediate aftermath of the Nasdaq rolling off the bubble highs in March 2000." Alfred E. Neuman feeling when I look at the action in the equity market and the reasons for this relentless exuberance," Rosenberg said.

Persons: David Rosenberg, Alfred E, Neuman, Rosenberg, Russell Organizations: Rosenberg Research, Nasdaq, Tech, Nvidia, Microsoft, Dow Jones, American, of, Investors, Investors Intelligence

☆ IMF upgrades UK growth forecast in another boost to new Labour government
▼ + stars: | 2024-07-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country's new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. Investment bank Goldman Sachs earlier this month nudged its 2025 forecast for the U.K. economy 0.1 percentage point higher, to 1.6%. Other economies given a 2024 growth upgrade by the IMF on Tuesday included the euro zone, which it lifted by 0.1 percentage point to 0.9%, Spain, up 0.5 percentage point to 2.4%, and China, up 0.4 percentage point to 5%. It lowered its forecast for the U.S. economy by 0.1 percentage point to 2.6%.

Persons: Taylor, Goldman Sachs, Keir Starmer, Goldman, — CNBC's Sophie Kiderlin, Vicky McKeever Organizations: Nine, Monetary Fund, D.C, Investment, Labour, European Union . Deutsche Bank, Friday, Deutsche Bank, Jefferies, Bank of England, Reuters, IMF Locations: Ruskin Park, London, England, Washington, brightening, Spain, China, U.S, Asia

☆ Gold drifts higher as U.S. rate cut optimism boosts appeal
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.

Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary

☆ Euro zone inflation eases to 2.5% as core print misses estimate
▼ + stars: | 2024-07-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

watch nowHeadline inflation in the euro area dipped to 2.5% in June, the European Union's statistics agency said Tuesday, while the closely watched core and services prints held steady. Core inflation, excluding the volatile effects of energy, food, alcohol and tobacco, stayed at 2.9% from the prior month, narrowly missing the 2.8% economists had forecast. Investors will now parse what the latest data means for the trajectory of interest rates in the 20-nation euro zone, following the European Central Bank's initial 25 basis point cut in June. Volatility in the consumer price index has long been expected this year, as choppy base effects from the energy market unwind. In June, year-on-year energy inflation in the euro zone was 0.2%, a sharp switch from earlier in the year when the sector had a strong disinflationary pull.

Persons: Luis de Guindos, CNBC's Annette Weisbach Organizations: Reuters, Inflation, Investors, Central, Tuesday, ECB, Central Banking Locations: Sintra , Portugal

☆ A New Option to Treat Sleep Apnea: Weight-Loss Drugs
▼ + stars: | 2024-06-21 | by ( Dani Blum | ) www.nytimes.com time to read: +1 min

Sue Clasen kept trying to manage her sleep apnea. The CPAP’s mask felt bulky and irritating — she just couldn’t sleep with it on. But when she took it off and fell asleep, her husband soon nudged her awake: Her snoring, a common symptom of sleep apnea, was so loud it woke the whole room up. The worst of her sleep apnea symptoms have vanished. More Americans with obstructive sleep apnea, the most common form of the disorder, may soon turn to weight-loss drugs.

Persons: Sue Clasen, Clasen, nudged

☆ Oil slips on dollar's strength from U.S. jobs data
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: +3 min

Oil wells are seen at an oil facility by the Highway 5 near Bakersfield in California, U.S. on Nov. 27, 2022. Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday. On Friday, data showed the U.S. added more jobs than expected last month, leading investors to trim expectations for rate cuts and causing the dollar to rally. In the U.S., Washington stepped up purchasing of crude oil to replenish the Strategic Petroleum Reserve after prices fell. Last week, U.S. energy firms cut the number of oil and natural gas rigs operating to the lowest since January 2022, energy services firm Baker Hughes said on Friday.

Persons: Emmanuel Macron, Le, Tony Sycamore, Sycamore, Brent, WTI, FGE, Washington, Baker Hughes, Hayan Abdel, Ghani Organizations: Brent, . West Texas, greenback, European Union, IG, U.S . Federal Reserve, Bank of Japan, Organization of, Petroleum, bbl, Strategic Petroleum Reserve, Iraq's Oil Locations: Bakersfield, California, U.S, European, Sydney, OPEC, Kurdistan, Iraq, Turkey

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ What the Death of Iran’s President Raisi Means for His Country, and the World - The New York Times
▼ + stars: | 2024-05-20 | by ( Reuel Marc Gerecht | Ray Takeyh | ) www.nytimes.com time to read: +2 min

Iran’s Supreme Leader Ali Khamenei has not always seen eye to eye with his country’s presidents. Mr. Raisi was a revolutionary with an ideologue’s integrity. Despite this deep experience and loyalty, it wasn’t clear that Mr. Raisi would be a suitable successor to Mr. Khamenei, a development many observers and Iranians feared. Mr. Raisi only possessed the last. But even if his ascension was uncertain, Mr. Khamenei still relied upon the cleric to help manage the coming transition: Mr. Raisi was reportedly part of a three-man committee vested with the responsibility to choose the next supreme leader.

Persons: Ali Khamenei, Akbar Hashemi, Rafsanjani, Mohammad Khatami, Mahmoud Ahmadinejad, Hassan, Ebrahim Raisi, Mr, Khamenei, Raisi Organizations: Iran’s Locations: Islamic Republic

☆ Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows
▼ + stars: | 2024-05-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.

Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York

☆ Biden faces widening partisan split over Israel
▼ + stars: | 2024-05-06 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

CNN —President Joe Biden is facing more critical moments this week that will test his fraught relationship with his base over Israel’s war in Gaza and potentially widen the partisan split about the Jewish state that has been building for years. Against this backdrop, partisan polarization about Israel among American voters was already widening years before the brutal Hamas attack last October and the devastating Israeli response it triggered. An array of polls this spring show how the war in Gaza has hardened this partisan split. Nearly half of Democrats, but only a little over one-fifth of Republicans in the CBS poll, said the US should pressure Israel to stop the fighting. “Biden has a Democratic caucus that is putting a lot of faith in this process,” she said.

Persons: Joe Biden, Long, Benjamin Netanyahu, Netanyahu, “, ”, Aaron David Miller, Biden, Harry Truman, Lyndon B, Johnson, Jimmy Carter, Bill Clinton, Dwight Eisenhower, Richard Nixon, Ronald Reagan, George H.W, Bush, Reagan, George W, Donald Trump, Clinton, Barack Obama, Republicans —, Obama, Israel, Biden —, Gallup, Trump, That’s, Chuck Schumer, Mike Johnson, Biden’s, Jamaal Bowman, Cori Bush, Waleed Shahid, Shahid, David, it’s Goliath, David ”, Miller, “ Biden, ’ ”, Ben Rhodes, ” Biden, “ We’re, Saudi Arabia — “, Mark Mellman, Schumer, Sen, Bernie Sanders, Israel’s, Chris Murphy of, Chris Van Hollen, Chris Coons, Tim Kaine, Virginia, Van Hollen, Amanda Klasing, — Organizations: CNN, Israel, Republican, Democratic, Gallup Organization, Carnegie Endowment, International Peace, Holocaust Memorial, GOP, Whites, Republican Party, Republicans, Gallup, Trump, Chicago Council, Global Affairs, Quinnipiac University, CBS, Liberal, American Israel Public Affairs Committee, AIPAC, National Security Council, Amnesty International, Amnesty Locations: Gaza, Israel, United States, Iran, Quinnipiac, Washington, New York, Missouri, Yom Kippur, Saudi Arabia, Sens, Chris Murphy of Connecticut, Maryland, Delaware, Rafah

☆ The Fed Is Looking for a Job Market Cool-Down. It Just Got One.
▼ + stars: | 2024-05-03 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials have been looking for further evidence that their interest rate increases over the past two years are weighing on the economy and job market, and Friday’s employment report roundly provided that signal. That moderation came as job gains slowed, the unemployment rate ticked up slightly and average weekly hours nudged down. The overall picture was one of a labor market that remains solid but is gradually slowing — exactly what officials at the Fed have been looking for. Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, like it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated.

Organizations: Federal

☆ The Fed Just Got the Job Market Cooling It Has Been Waiting For
▼ + stars: | 2024-05-03 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Federal Reserve officials are keeping a close eye on the job market as they contemplate when and whether they can cut interest rates this year. That was both cooler than the previous reading and slightly cooler than the 4 percent economists had forecast. The overall picture was one of a labor market that remains solid but is gradually slowing — exactly what officials at the Fed have been looking for. Central bankers generally embrace a strong job market: One of their two mandates from Congress is to foster maximum employment. But when inflation is rapid, as it has been since 2021, officials worry that a hot labor market could help to keep price gains elevated.

Organizations: Federal

Much of Hicks’ testimony focused on her role on the Trump campaign in October 2016, just before Election Day. When cross-examining Hicks, Trump attorney Emil Bove elicited testimony that Trump was also concerned about what his wife would think. Video Ad Feedback Trump closed his eyes during Hope Hicks' testimony. There was a lot at play.”Hicks forwarded the email that included a transcript of the audio to several Trump campaign staffers including Kellyanne Conway. With Hicks’ testimony, prosecutors nudged closer to the repayment and the alleged charges.

Persons: Donald Trump’s, Hope Hicks, Hicks, Daniels, Michael Cohen, “, ”, Trump, Matthew Colangelo, ” Hicks, Karen McDougal’s, Emil Bove, Kellyanne Conway, chuckling, Steve Bannon, Conway, Jared Kushner, Jason Miller, McDougal, Cohen, nudged, –, Honig, CNN Hicks, Colangelo, Michael, ‘ Mr, ’ Michael Cohen Trump’s, Douglas Daus, Trump’s, Daus, DANY, Cohen ”, ” Daus, Prosecutors, Chris Conroy, Judge Juan Merchan, Manhattan DA Alvin Bragg, Daniel Dale, He’s, ” Merchan, ” Trump, Merchan Organizations: CNN, White House, Trump, Manhattan, Attorney’s Office, Trump White House, Trump Organization, Prosecutors, Wall Street, American Media, Inc, Wall, Washington Post, ” Prosecutors, House, New York Times, Trump “, Manhattan DA Locations: Washington, Manhattan, New York, Michigan

☆ How Justice Amy Coney Barrett drove the Supreme Court’s debate on abortion and Trump immunity
▼ + stars: | 2024-04-27 | by ( John Fritze | ) edition.cnn.com time to read: +7 min

Barrett pins Trump down on his absolute immunity argumentsAs the second-least senior justice, Barrett sits at the far end of the Supreme Court’s mahogany bench. That was a notable break from earlier arguments Trump submitted that called for “absolute” immunity on a much wider scale of acts. A party turns to a private attorney, Barrett hypothesized, “who was willing to spread knowingly false claims of election fraud” to spearhead his challenges to an election. That appeared to be a reference to former Trump attorney Rudy Giuliani, identified by CNN as “co-conspirator 1” in Smith’s indictment. “This is where someone like Justice Barrett gets to pressure test an advocate’s points,” she said.

Persons: John Roberts, Amy Coney Barrett, ”, Donald Trump, Barrett, Trump’s, Trump, Roe, Wade, “ We’ve, Steve Vladeck, “, Jack Smith’s, John Sauer, –, Sauer, Smith, Rudy Giuliani, ” Barrett, ” Sauer, Michael Dreeben, ” Dreeben, Ilya Somin, ” Somin, ” ‘, Sonia Sotomayor, quizzing, Biden, Sotomayor, Josh Turner, Turner, I’m, ” Turner, ” Barrett interjected, ’ ”, Beth Brinkmann, litigator Organizations: CNN, Center for Reproductive Rights, University of Texas School of Law, Trump, George Mason University Locations: Idaho

☆ Canada’s gold heist: Inside one of the biggest thefts in the annals of crime
▼ + stars: | 2024-04-20 | by ( Ramon Sanchez | Ray Sanchez | ) edition.cnn.com time to read: +13 min

“One which we jokingly say belongs in a Netflix series.”A truck driver with a fraudulent waybill for a seafood shipment picks up the container. Instead of a load of farm-raised seafood, the truck driver pulled away from the loading dock with loot. “They needed people inside Air Canada to facilitate this theft,” Peel Regional Police Det. In its legal response to the Brink’s lawsuit, Air Canada has denied it was “careless” and its security lax. Canadian police had identified him as the truck driver early in the investigation but had not been able to locate him.

Persons: ”, Nishan Duraiappah, Nando Iannicca, Canada “, ” Duraiappah, ’ ” Patrick Brown, –, Mike Mavity, Mavity, couldn’t, “ We’re, ” Mavity, “, it’s, Brink’s, Eric, “ They’re, Nick Milinovich, Duraiappah, CNN’s Paula Newton, Fabiana Chaparro Organizations: CNN, Toronto Pearson International, Air Canada, ” Peel Regional Police, Netflix, Peel Regional Police, Peel, Canadian, CSI, Vancouver Bullion & Currency Exchange, Air, Police, ” Air Canada, Authorities, Alcohol, Tobacco, Firearms, Explosives, ” Police, Investigators, Court, Middle, Middle District of Pennsylvania, ” Peel Locations: Zurich, Switzerland, Canada, Pennsylvania, Florida, Georgia, Brampton, Toronto, Air Canada, United Kingdom, Dubai, India, Franklin County , Pennsylvania, Philadelphia, Middle District, Atlanta

☆ The man who led Google Photos to 1 billion users is now the newest group partner at Y Combinator
▼ + stars: | 2024-04-18 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Lieb, having a background in semiconductors and not server management, reached out to his fellow Y Combinator founders for support. After a year and a half of advising at the accelerator, he's stepping up as a group partner, Y Combinator tells Business Insider exclusively. It was never released, but many of the ideas would later come back in the form of Google Photos. From there, he reached into the Y Combinator alumni network to find other promising upstarts. David Lieb, second from left, speaks to a group of Y Combinator founders.

Persons: David Lieb, Lieb, Alex Polvi, Combinator —, Garry Tan, Jared Friedman, Harj Taggar, Michael Seibel, Sam Altman, it's, Y Combinator, " Lieb, Dan Lieb, Y, Xoogler, Patrick, John Collison's, Mixpanel, Jake Mintz, Forbes, Kevin Systrom, Flock, Andy Huibers, Mary, 72m2YgJZq8 — David Lieb, Ryan Peterson, He's Organizations: Apple, Business, Investors, Google Locations: Cloudkick, San Francisco, Silicon Valley, Flexport

☆ Risk of a global recession is minimal, IMF economist says — would take 'a lot to derail'
▼ + stars: | 2024-04-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

"When we do the risk assessment around that baseline, the chances that we would have something like a global recession is fairly minimal. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and projects the same rate in 2025. One of the International Monetary Fund's top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. That has all combined with the ongoing Russia-Ukraine war, which had its biggest wider impact on energy prices in Europe in 2022. And that's one of the big risks that we do see, the implications that could have for oil prices could be substantial.

Persons: Gourinchas, Pierre, Olivier Gourinchas, Karen Tso, Gita Gopinath, we're Organizations: U.S, IMF, Washington DC, International Monetary, Palestinian, Hamas, CNBC Locations: Europe, New York, Germany, France, Italy, Spain, Portugal, Belgium, Gaza, Red, Yemeni, Russia, Ukraine, Asia, Israel, Iran

☆ Dollar stands tall as U.S. rate-cut bets recede
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

The dollar steadied on Monday, holding its biggest weekly gain since 2022, as escalating conflict in the Middle East and the prospect of stubbornly high U.S. interest rates gave support. The dollar steadied on Monday, holding its biggest weekly gain since 2022, as escalating conflict in the Middle East and the prospect of stubbornly high U.S. interest rates gave support. There was little initial reaction to a weekend attack on Israel by Iran. Canadian and New Zealand inflation figures are due on Tuesday, along with Chinese growth numbers. British inflation data is out on Wednesday and Aussie jobs data on Thursday.

Persons: Jason Wong, Sterling Organizations: New Locations: Asia, Israel, Iran, New Zealand, Israeli, Damascus, Wellington, Zealand

☆ Bull market breaks its stride with the S&P 500's first 2% dip in a long while
▼ + stars: | 2024-04-06 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

Was that a change in the market's character last week, or is it still the same old bull? This is generally to the good, as boring markets are bullish markets while they remain that way. Rates and commodities worries Other asset markets have also been at least inviting the question about a potential shift in character. The good news on this, as I keep insisting, is that it hasn't been a truly Fed-driven market. Though it's easy to imagine the market chafing at this kind of higher-rate, higher-growth equilibrium if it continues too much longer.

Persons: Ned Davis, Jerome Powell, hasn't, That's, We're, It's, Andrew Kelly Organizations: Ned Davis Research, Treasury, Fed, Investors Intelligence, Investment, Deutsche Bank ., New York Stock Exchange Locations: New York City, U.S

☆ Fed caution may be justified if the labor market starts to deteriorate. Here's why that could happen
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

A strong jobs outlook raises the potential of greater inflation pressures, meaning the central bank might be less eager to ease policy. Indeed, there are some signs that the labor market's strength may not be as robust as the headline nonfarm payrolls numbers indicate. Economists both on Wall Street and at the Fed suspect swelling immigration numbers are playing a role in boosting employment and keeping the labor market so tight. With political clamoring intensifying for the U.S. to tighten its border controls, the resilience of the labor market then could be jeopardized depending on how large a role immigration is playing. "Another strong report raises the potential that the deterioration in labor markets we have been expecting will be avoided.

Persons: nonfarm, Seema Shah, Shah, Mohamed El, There's, Goldman Sachs, Michelle Bowman, Bowman, Andrew Hollenhorst Organizations: Federal Reserve, Labor, Asset Management, Allianz, Fed, CNBC, Wall, Congressional, Citigroup, Citi Locations: it's, Italy, U.S, South America, Central America, Mexico

☆ They Want to Become Nuns and Priests. Student Debt Holds Them Back.
▼ + stars: | 2024-04-04 | by ( Sejla Rizvic | ) www.nytimes.com time to read: +1 min

It wasn’t until after college that Kendra Baker began to consider becoming a nun. A few hours later, her father opened his eyes. “He’s relearned to walk, talk, drive — he can eat normally,” Ms. Baker, 25, said. “Not God’s booming voice saying, ‘Kendra, go to the convent now.’ But just very gentle,” she said. Only one thing was preventing her from joining: her student loan debt.

Persons: Kendra Baker, Ms, Baker, “, ‘ Kendra, Carmelite Organizations: Roman Catholic, Western Washington University Locations: Seattle, Los Angeles

WASHINGTON (AP) — The number of arrests for illegally crossing the U.S. southern border with Mexico nudged upward February over the previous month. But at a time when immigration is increasingly a concern for voters, the numbers were still among the lowest of Joe Biden's presidency. According to figures from Customs and Border Protection, Border Patrol agents made 140,644 arrests of people attempting to enter the country between the legal border crossing points during February. The numbers come after a December that saw the Border Patrol tally 249,785 arrests — a record high that increased tensions over immigration — before plunging in January. Separately, 42,100 migrants used an app called CBP One to schedule an appointment to present themselves at an official border crossing point to seek entry into the United States.

Persons: Joe Biden's, Biden, Donald Trump, —, Alejandro Mayorkas Organizations: WASHINGTON, Customs, Border Patrol, CBP, Republicans, Republican, Patrol, Homeland Locations: U.S, Mexico, Brownsville , Texas, Arizona, Sonora, Mexican, Tucson, San Diego, El Paso , Texas, United States, Cuba, Haiti, Nicaragua, Venezuela

☆ Wholesale inflation rose 0.6% in February, much more than expected
▼ + stars: | 2024-03-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department's Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January. Another measure that also excludes trade services rose 0.4%, compared with the 0.6% gain in January, and was above the estimate for a 0.2% advance. The PPI is considered a leading indicator for inflation as it indicates costs early in the supply chain.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, Dow, Futures, Commerce Department, Labor Department, PPI, BLS, CPI Locations: U.S

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