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The jobs report said the US economy added 114,000 jobs in July, far fewer than the 176,000 jobs that economists expected. The weakness of the jobs report tipped the worry scale and sent markets into meltdown mode. Outside the July jobs report, there were plenty of signs the labor market was cooling off. If that seems confusing, here's the only thing you really need to know: The July jobs report triggered the Sahm rule. Nobody should be losing a ton of sleep over the state of the labor market or over the economy overall.
Persons: it's, Guy Berger, doesn't, Skanda Amarnath, there's, what's, Claudia Sahm, we're, Amarnath, Alí Bustamante, Bustamante, would've, it'll, Jay Powell, Berger, Emily Stewart Organizations: Federal Reserve, Glass, Labor, Survey, New Century Advisors, Worker Power, Economic Security, Roosevelt Institute, Fed, Business
To be sure, the carnage on Wall Street and in equities markets around the world was real. But Monday’s panic was the Wall Street equivalent of a tantrum from a kid who just got told they can’t have ice cream for dinner. But don’t let the stock market drama fool you: The US economy is still in good shape, despite some turbulence. “And I’m not too worried about Wall Street becoming poor.”Stocks looked to bounce back Tuesday. Wall Street worked itself into a lather when ChatGPT came out two years ago.
Persons: CNN Business ’, Stocks, Dow, Wall, don’t, Rana Foroohar, That’s, it’s, Goldman Sachs, , Jan Hatzius, ” Goldman, There’s, Beryl, , Beryl didn’t, Aaron Sojourner, ’ ”, ChatGPT, Rob Haworth, ” Haworth Organizations: CNN Business, New York CNN, CNN, Nikkei, of Labor Statistics, Coast, BLS, WE Upjohn, Employment Research, White House Council, Economic Advisers, Fed, Federal, Markets, Big Tech, Nvidia, Microsoft, Wall, Bank of Japan, US Bank Locations: New York, Japan
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
Short-term rentals are generally considered more lucrative than long-term rentals. Summer 2023 was tough across the board for the short-term rental market, with some Airbnb and Vrbo hosts seeing revenue drop by up to 18%. The couple self-manages three short-term rental properties. "On a lot of these short-term rental platforms like Airbnb and Vrbo, there are rating systems for the guest," said Jervais. They noted that working with the right property manager or co-hosting platform is a good option for a short-term rental property owner who wants to be more hands-off.
Persons: they're, Natia, Jervais Seegars, they'd, they've, We're Organizations: Service, Business, Ventures, Strategy
The Crimes of Putin’s Trader
  + stars: | 2024-07-29 | by ( Eamon Javers | ) www.cnbc.com   time to read: 1 min
Follow and ListenApple PodcastsSpotifyAmazon MusiciHeartRadioAbout The Crimes of Putin's TraderHosted by CNBC Senior Washington Correspondent Eamon Javers, this is the secret story of a young Russian oligarch who hacked his way to an illicit $93 million fortune...and the FBI team who finally brought him to justice. For generations, insider trading on Wall Street has been a crime of the American rich: the stereotype of corporate executives passing stock tips at country clubs was not far off. But new cyberwarfare techniques, and an aggressive anti-Western Putin regime in Moscow have turned this kind of insider corruption into an attack from the outside on the American economy itself, with profound implications for all of us who have retirement accounts, investments, or work in corporate America.
Persons: Eamon Javers Organizations: CNBC Senior Washington, FBI, Western Putin Locations: Russian, Western, Moscow, America
“We want to make this environment comfortable, but also know, you know, what the standard is – you’re here for a reason,” said Lindsey Horan, the midfielder who serves as the team’s captain. And we want to get back to being the best in the world.”“So, we need those players. It was arguably Hayes’ first tough decision as the manager of the women’s team after coming on board in late 2023 following a successful decade-plus at Chelsea FC in London. Even still, she is finding it easier than anticipated to get her team to come together. I cannot finish the ball for players, but I can certainly coach to put players in positions.”
Persons: Emma Hayes, , Lindsey Horan, , that’s, Sophia Smith, Trinity Rodman, Rose Lavelle, Alyssa Naeher, Hayes, Alex Morgan, Hayes ’, “ I’ve, Sam Coffey, Coffey, It’s, – Hayes, ” Hayes, It’ll, Mallory Swanson, who’s, Swanson, ” Swanson, it’s, Morgan, Smith, Rodman, Horan, , Carli Lloyd, Abby Wambach, Mia Hamm, I’m Organizations: Paris CNN —, US, National Team, Costa, Paris Games, Zambia, Stade de Nice, Chelsea FC, US women’s, USA, American, flailing Locations: Washington , DC, Costa Rica, France, Tokyo, Australia, New Zealand, Nice, London, Zambia
If you google "passive income ideas," one of the first strategies that pops up is to buy a rental property. Even those with property managers have described having to "manage the property manager." Buying rental properties is "expensive like a puppy," he added. They've learned that, "the more hands-on you are, the more money you're going to make," said Jervais. One, their long-term rental properties are newer, so they naturally have fewer maintenance requests and upkeep.
Persons: I'm, Matt, it's, Matt H Natia, Jervais Seegars, They've, Karina Mejia, aren't, Mejia, Jervais, Jim Resonable, she'd Organizations: Service, Business, EVO Real Estate Locations: New Hampshire, Boston, Augusta , Georgia, North Carolina , California, Georgia
Kid's savings accounts are a great way to teach your kids how to budget, create savings goals, and start building up their savings. Best Kids Savings Account ReviewsThe best savings accounts for kids offer good monitoring features, educational resources, and low monthly fees. Key Benefits of a Kids' Savings AccountThe key benefit of getting a kid's savings account is that you can grow your child's savings in a relatively accessible and safe way. Features to Look for in a Kids' Savings AccountHigh Interest Rates on Kid's BankingFor the most part, kid's savings accounts are interest-earning accounts. How to Open a Savings Account for Your ChildChildren's Savings Account Eligibility RequirementsA kid cannot open a savings account on their own.
Persons: Chase, Alliant, Foster, JP Morgan Chase, Jeffrey Epstein's, Banks, isn't, there's, Tania Brown, Sophia Acevedo, Mykail James, Roger Ma, James Organizations: Mortar Bank Chase, Chase, Best Online Bank, Best Credit Union Alliant Credit, Credit Union, Foster, Business, Chase Bank, Washington DC, Capital, Credit, Alliant Credit, Savings, Foster Care, U.S . Virgin, Banking, Kid's Banking, Kid's, Kids, FDIC Locations: NY, LA, TX, VA, NJ, Washington, Connecticut , Delaware , Louisiana , Maryland , New Jersey , New York , Texas, Virginia, Chevron
As boarding, tickets, and pilot communication channels were affected by the outage, passengers were hit with delays and cancellations. AdvertisementScott Sanders, a passenger at Seattle-Tacoma International Airport, told Business Insider that people were sleeping on the ground due to the disruption. Sanders' flight to Cincinnati/Northern Kentucky International Airport (CVG) had been scheduled to depart on Thursday at 10:55 p.m. 'Tired and hopeless'At Los Angeles International Airport, Sarah Patterson experienced a similar disruption. "We sat on the tarmac for an hour, and they said it was a technical issue with Microsoft," Ebule told BI.
Persons: , Scott Sanders, Sanders, t4nCH8Y6UD — Scott Sanders, Jordan van den Lamb, Lamb, Sarah Patterson, Patterson, w9trzshNST, Sarah, Ebule, Aditi Bharade Organizations: Service, Microsoft, Business, Tacoma International Airport, Northern, Northern Kentucky International, SEA, Hobart, Jetstar, Los Angeles International Airport, Spirit Airlines, Newark Liberty International Airport, LAX, Spirit, Melbourne Airport, Scoot, Singapore's, Singapore Changi Airport, IndiGo, BI, Amtrak, Speedway Locations: Delta, Seattle, Cincinnati, Northern Kentucky, Ohio, @SeahawkSanders, Tasmania, Washington ,, Australia, Singapore, Trains
Read previewSheila Reed, 57, is no longer facing a lifetime of student-loan payments. 'I'm just glad it's over'Reed didn't know she would struggle so much to pay off her student loans. But with the relief, she can now begin to save money as she nears retirement and is grateful her student loans are in the rearview mirror. Advertisement"Now, when I do think about the student loans, I think of them being discharged," she said. Are you struggling with student-loan payments?
Persons: , Sheila Reed, Reed, I'm, Reed didn't, she's Organizations: Service, Westwood College, Business, BI —, Education Department, Westwood, Public, Corinthian Colleges, ITT Technical Institute, Republican
Since September, when Fraser laid out her vision for a more streamlined Citigroup, the bank’s stock has shot up more than 50%. For the first time in nearly two decades, Wall Street appears to be feeling something almost like optimism about America’s third-largest bank. But speaking of Fraser’s tenure, Mayo sounded unusually sanguine about her progress in simplifying Citi’s notoriously labyrinthine corporate structure. Still, Mayo said the bank offers the “worst-in-class efficiency, returns and stock market valuation.”“I think she will pull it off. Of course, Fraser, who took over in March 2021, is still being haunted by the sins of Citi’s past.
Persons: CNN Business ’, Jane Fraser, , Fraser, Revlon —, Jane Fraser’s, , Mike Mayo, , ” Mayo, Mayo, “ It’s, I’m Organizations: CNN Business, New York CNN, Citigroup, Citi, Revlon, JPMorgan Chase, Bank of America, Wells Locations: New York, Wells Fargo
With three children and a dog, the Aguilar Ortega family trekked through the jungle, hopped freight trains and toured Times Square. Millions of Venezuelans like the Aguilar Ortega family have fled economic misery and political repression in their homeland as it descended into turmoil. “The kids want to go to New York,” Mr. Aguilar said in Spanish as he stood by his tent in Mexico City. Mr. Aguilar created hiding places for their cash, using toenail clippers to cut small openings into Hayli’s jacket and Josué’s pants. She called Ms. Ortega to check in, and learned of the family’s setup.
Persons: Aguilar Ortega, trekked, Miles, — Hayli, Samuel, Henry Aguilar, Leivy Ortega, Eric Adams, Biden, Aguilar, Ms, Ortega, Donna, ” Mr, , COLOMBIA Samuel, Hayli, Nicolás Maduro, It’s, Mr, selfies, , Josué, Donna meandered, patted, Aguilar Ortegas, Aguilar’s, weren’t, “ It’s, Rafael García, “ Papi, Ortega’s, Floyd Bennett, Simón, Floyd Bennett Field, “ I’ve, I’m, Maria Cardona, ” Ms, Cardona, Amy Swan, Ray Swan, Swan Organizations: New York Times, U.S ., The Times, GAP, MEXICO CITY, Mexico City, Central America, CIUDAD, Times, United, Venezuela’s, Roman Catholic Church, New York, La Guardia Airport, Delta, Roosevelt, Queens, Honda, Facebook Locations: Mexico City, Latin America, Venezuelan, New York City, New York, U.S, United States, Venezuela, , COLOMBIA, Colombia, Chile, Ecuador, Peru, Panama, la, , ” PANAMA, MEXICO, Guatemala, Mexico, earshot, Central, Costa Rica, Nicaragua, Honduras, CIUDAD JUÁREZ, Ciudad Juárez, Texas, Juárez, Mexican, Rio Grande . Texas, Rio Grande, Cuba, Haiti, El Paso , Texas, El Paso, PASO , TEXAS, York, La, Michigan, Santa Claus, Manhattan, Spanish, MANHATTAN, BROOKLYN, Brooklyn, Simón Bolivar, Spain, Jamaica, MIDDLETOWN, CONN, Middletown, Conn, Connecticut
Read previewIt's been 13 years since Simen Platou moved to Bali from Norway, and he remembers his first visit to the Indonesian island clearly. A week before he was due to depart for Bali, Platou realized he wasn't enjoying his internship at all. Amanda Goh/Business InsiderHis three-bedroom house is a leasehold property on a 20-year lease. Amanda Goh/Business InsiderOn the first floor, there's an open-plan living and dining area, a kitchen, and a home office. Amanda Goh/Business InsiderIn the past couple of years, Platou's been investing in real estate.
Persons: , Simen Platou, Platou, Jennifer, Simen, Amanda Goh, Kuta, it's, we've, he's, Platou's, He's, you'll, There's Organizations: Service, Business Locations: Bali, Norway, Vietnam, Indonesian, Kuta, Kerobokan, Pererenan, Canggu
Artificial intelligence has been a big boon for San Francisco real estate. The vacancy rate for San Francisco office space reached a fresh record of 34.5% in the second quarter, according to a report Monday from commercial real estate firm Cushman & Wakefield. "San Francisco is certainly the center of AI, but AI is not going to save the San Francisco commercial real estate market," Sammons said. Vacant office space across San Francisco for the quarter totaled 29.6 million square feet, Cushman & Wakefield said. WATCH: Commercial real estate vacancies in San Francisco are at an all-time high
Persons: OpenAI, Robert Sammons, Anthropic, Sammons, That's, Cushman & Wakefield Organizations: San, Tech, Microsoft, Cushman &, San Francisco, Wells Locations: San Francisco, Wakefield, Mission, Cushman & Wakefield, Francisco, Wells Fargo, Cushman
Stefanie Longenecker, 43, Palmyra, Pa. Has stayed out of the workforce because of high cost of child care. But she has been sidelined from the workforce by a child care system that has grown inaccessible for many families. Longenecker, 43, left her job as a hospital pathologist during the pandemic to care for her young children amid repeated day care and school closings. “I’m incredibly lucky to be able to spend this time with my kids, even recognizing the shortcomings.”The child care crunch has put a growing squeeze on families since the pandemic, when more than 100,000 workers left the industry and more than 16,000 child care centers permanently closed. Since then, child care costs have risen more than 30%, and households with child care expenses have been spending at a slower pace and dipping into savings at a faster rate than the general population, according to a Bank of America analysis of its customers’ spending.
Persons: Stefanie Longenecker, ” Longenecker, “ that’s, Longenecker, that’s, she’s, Longenecker’s, Davidson, , , haven’t, We’re Organizations: NBC, , Bank of America, Stanford University Locations: Palmyra, Pa, Palmyra , Pennsylvania, Harrisburg, Lebanon County
Much of the S&P 500’s gains were concentrated in the Magnificent Seven big tech names, while other stocks lagged behind. Coming into this year, Wall Street projected that the Fed would ease rates as many as six times in 2024. What could be in store for the stock market during the second half of 2024? “I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out,” Buffett told the Journal. Previously, Buffett had said his will stated that more than 99% of his estate was earmarked for philanthropic usage to the Bill & Melinda Gates Foundation and the four charities connected to his family: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.
Persons: there’s, Bell, Kevin Gordon, Charles Schwab, you’ve, It’s, we’re, it’s, I’d, That’s, Warren Buffett, Buffett, Berkshire Hathaway, Melinda Gates, ” Buffett, Susan Thompson Buffett, Howard G, Read, Matt Egan, unstuck, , Michael Gapen Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Nvidia, Federal Reserve, Wall, Fed, Berkshire, Wall Street, Melinda Gates Foundation, Gates, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Gates Foundation, Bank of America, CNN Locations: New York, America
"House of the Dragon" finally returned on Sunday night, two years after season one aired on HBO and became a smash hit. Rhaenyra, in mourning, needs to see her dead son for herselfRhaenyra discovers the remains of Arrax, her son Lucerys' dragon, in the season two premiere of "House of the Dragon." Daemon makes an oopsieDaemon (Matt Smith) and Rhaenyra (Emma D'Arcy) in "House of the Dragon" season 2. Back in King's Landing, the assassins that Daemon sent after Aemond close inEwan Mitchell as Aemond Targaryen in "House of the Dragon" season two. Olivia Cooke as Alicent in season two of "House of the Dragon."
Persons: , Alicent Hightower, Aegon II, Rhaenyra Targaryen, Alicent's, Aemond, Rhaenyra's, Lucerys Velaryon, Eammon Jacobs, Palmer Haasch, Caralynn, Palmer, , Cregan Stark, Ollie Upton, Stark, Jace, Vhagar, Daemon Daemon, Theo Whitman, Daemon, she's, Corlys, Tom Glynn, Carney, Helaena, Alicole, … Palmer, Rhaenyra, Arrax, Lucerys, Theo Whiteman, Emma D'Arcy, Milly Alcock —, Emma, Luke, Syrax, Otto, Larys, Michael, Aegon's, Hugh, Alicent, Sonoya Mizuno, maven, Whistleworm, I'm, Matt Smith, Jace —, he's, Jacaerys, it's, Ramin, Daemon Targaryen, Ewan Mitchell, it's Helaena, It's, Olivia Cooke, Cole, wasn't Criston, Jaime, Cersei, Bran Organizations: Service, HBO, Greens, Aegon, Blacks, Business, Alpha Beta Locations: Alicole, Farmville, Lucerys, Alicent
But Rory McIlroy did not win the 2024 U.S. Open. Bryson can win the U.S. Open with a par on 18. pic.twitter.com/lSk0ZzzZK2 — U.S. Open (@usopengolf) June 16, 2024He parred No. Rory McIlroy had a two-shot lead with five holes to play Sunday. Rory McIlroy choked. Rory McIlroy sped off out of the Pinehurst Resort parking lot early Sunday evening not just a man in heartbreak.
Persons: Bryson, Rory McIlroy’s, caddie, McIlroy strutted, Bryson DeChambeau, Rory McIlroy, McIlroy, DeChambeau, , gam, Mc, yar, dow, Lex, abi l, lea, e, liv, bec, Th, Pat, Gia, aga Organizations: Pinehurst, Lexus, U.S, Gulfstream, Sandhills, U.S ., acc, McI, awa, Yan, pla Locations: PINEHURST, N.C, , U.S, North Carolina, DeChambeau, hol
3 risks to global economic growth
  + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com   time to read: +7 min
The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.
Persons: ” Indermit Gill, Jerome Powell, , Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing
But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. Grocery prices rose 1% in the 12 months through May. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. In February, overall food prices remained flat for the first time since April 2023.
Persons: Joe Erlinger, Justin Sullivan, Rice, Milk Organizations: New, New York CNN, Bureau of Labor Statistics, McDonald’s, KFC, Starbucks Locations: New York, Burger King, Ukraine, Texas
I started working two jobs while I was finishing my sociology and business major in college in 2021. My marketing job was flexible, so I could do my college work during my lunch breaks or quiet periods. I kept up my 2 jobs after collegeIt felt natural to continue working two jobs after graduating from college in 2022. I kept up my customer service job, working 65 hours over two weeks. If you work two full-time jobs and would like to share your story, email Ella Hopkins at ehopkins@businessinsider.com.
Persons: , Jane, I'd, I'm, I've, Ella Hopkins Organizations: Service, Business, FIRE Locations: Canada, ehopkins@businessinsider.com
Super Heavy landed in the Gulf of Mexico minutes after lift-off. A screengrab from SpaceX's livestream of the June 6, 2024 launch shows Starship sitting atop its Super Heavy booster on the launchpad. One of the engines on SpaceX's Super Heavy booster was not lit during its fourth launch. SpaceX reaches a major new milestone by landing its Super Heavy booster in the Gulf of Mexico. SpaceXOn its next flight, SpaceX might attempt to catch the Super Heavy booster with giant "chopsticks" on its Texas launch tower.
Persons: , Elon Musk's, Musk, Starship Organizations: Service, Super, Business, SpaceX, Starship, Starship's, of, NASA Locations: Gulf, Mexico, SpaceX's, Texas, Gulf of Mexico, Boca Chica , Texas
The evidence is overwhelming that physical activity is good for both our bodies and our brains. By one estimate, we're getting 27 fewer minutes of physical activity on average each day than we did 200 years ago. For kids, who need even more physical activity, the decline is stark. A 2022 Report Card on Physical Activity for Children and Youth gave the US a D- score, concluding that America, while never sufficiently supportive of physical activity, had become even worse at making the space and time for it. I'd forgotten that exercise, while not a cure for my mental illness, was a necessary precursor to my mental wellness.
Persons: I'd, it's, that's, COVID, we're, aren't, I've, you've Organizations: Medication, Centers for Disease Control, Children, Youth Locations: Thai, America, Canada, Muay Thai
The 61-year-old Silicon Valley veteran running Nvidia has overseen a $2 trillion surge in its value since the start of last year. Justin Sullivan/Getty ImagesThe hype behind Nvidia's chips is no joke. But competitors have been busy developing AI chips of their own to reduce reliance on Nvidia's increasingly expensive offerings. AMD CEO Lisa Su, who's Huang's cousin, is aiming to pry Nvidia customers away with a chip named the MI300X that costs between $10,000 and $15,000. If they succeed in using Triton, they could be one step closer to a future in which alternatives to Nvidia's chips are easier to use.
Persons: , Jensen Huang, Sam Altman, Mark Zuckerberg, Matt Bryson, Huang, isn't, Justin Sullivan, Taylor Swift, Nvidia's, Blackwell, Zuckerberg, Lisa Su, who's, Jensen, AMD, CUDA, OpenAI Organizations: Service, Silicon, Nvidia, Microsoft, Apple, Business, GTC, AMD, Google, Meta, Financial Times Locations: San Jose , California, Woodstock
If you subscribe to Netflix's cheapest plan, and also get Peacock's cheapest plan, and also get Apple TV+, it will cost you $23 a month. So Peacock and Apple would benefit more from being in a bundle with Netflix, so they are more likely to discount their rates to make the bundle work. Digital distributors like Apple have made it very easy for subscribers to turn their streaming subscriptions on and off. Netflix, Comcast, and Apple all declined to comment about bundle economics. AdvertisementSo maybe all streaming subscriptions aren't equal.
Persons: it's, Ted Sarandos, I've Organizations: Service, Apple, Comcast, Business, Netflix, Verizon, Disney
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