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☆ A notorious market bear who called the 2000 and 2008 crashes warns stocks are in their 'third great speculative bubble' in the last 100 years
▼ + stars: | 2024-09-28 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

AdvertisementJohn Hussman, the president of the Hussman Investment Trust who called the 2000 and 2008 market crashes, isn't shy about his characterization of the current market environment. The first piece of evidence Hussman cites is valuation, specifically the total market cap of non-financial stocks to total value added of those stocks. He predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 32% over the past year.

Persons: John Hussman, —, It's, Mike Wilson, Michael Kantrowitz, Lance Armstrong, Hussman, Armstrong, David Walsh Organizations: Service, Hussman Investment Trust, Tour de France, Hussman, Intelligence, Labor Locations: Irish

☆ Over 400 economists and ex-officials endorse Kamala Harris
▼ + stars: | 2024-09-24 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —More than 400 economists and former high-ranking US policymakers are endorsing Vice President Kamala Harris and her vision for the American economy, according to a document announcing the endorsement seen by CNN. “The choice in this election is clear: between failed trickle-down economic policies that benefit the few and economic policies that provide opportunity for all,” the endorsement document reads. Harris plans to roll out new policies on what she calls the “opportunity economy” during a speech in Pennsylvania, another key battleground state, on Wednesday. Several notable economists threw their weight behind Harris, including University of Michigan economist Justin Wolfers and Claudia Goldin, who won the Nobel Prize last year for tracking women’s labor participation and the evolving wage gap. The endorsement argued that Harris has a “proven track record of economic leadership,” crediting her with efforts as vice president to lower costs, cut taxes and raise wages.

Persons: Kamala Harris, Harris, Donald Trump’s, Brian Deese, Obama, Jason Furman, Bill Daley, Penny Pritzker, Clinton, Robert Reich, Alan Blinder, Donald Trump, ”, Trump, Sean O’Keefe, George W, Justin Wolfers, Claudia Goldin, Marty Walsh, Deval Patrick, Larry Summers, Robert Rubin, Mark Cuban, James Murdoch, he’s, Bill Ackman, Peter Thiel, Tesla, Elon Musk, ” Harris, Jamie Dimon, Dimon, Jeffrey Sonnenfeld, Sonnenfeld Organizations: New, New York CNN, CNN, Federal Reserve, Management, NASA, University of Michigan, House, Labor, Massachusetts Gov, Democratic, JPMorgan Chase, JPMorgan, Wall Street, Trump, Yale, That’s Locations: New York, Georgia, Pennsylvania, United States, America, Dimon

☆ The Fed isn't going to be able to cut interest rates as much as it wants to, former Treasury Secretary Larry Summers says
▼ + stars: | 2024-09-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The Fed probably can't take rates as low as it would like to, according to Larry Summers. Summers pointed to the Fed's target of 2.9% for the so-called neutral rate. Go to newsletter preferences Thanks for signing up! AdvertisementThe Fed doesn't have the wiggle room to cut interest rates as low as it hopes to, according to ex-Treasury Secretary Larry Summers. In an interview with Bloomberg, Summers said central bankers have likely underestimated the so-called neutral rate, which is the level that neither expands nor contracts the economy.

Persons: Larry Summers, Summers, — Organizations: Service, Bloomberg, Business

☆ Stock market today: Indexes close at record highs and tech soars after Fed rate cut
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied to record highs as investors cheered Wednesday's rate cut from the Fed. Jobless claims reinforced the Fed's message of a strong labor market, with last weeks's claims down 12,000. AdvertisementMajor stock indexes surged to record highs on Thursday, a day after a jumbo rate cut from the Federal Reserve. On Wednesday, the Fed cut interest rates for the first time in four years, slashing its benchmark rate by 50 basis points. The Fed's dot plot shows the central bank will likely cut another 50 basis points this year and 100 basis points next year.

Persons: —, Dan Ives, Ives, Jerome Powell, Powell, Richard Bernstein Organizations: Fed . Tech, Nvidia, Meta, Service, Federal Reserve, Dow Jones Industrial, Nasdaq, Broadcom, ASML, Labor Department, Treasury, Fed, Trump Media Locations: Here's

☆ The Fed 'moved too fast' with rate cuts and now risks reigniting inflation, analyst says
▼ + stars: | 2024-09-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

On the positive side, Wharton professor Jeremy Siegel called the decision the "best news" the Fed has offered in years. He said the Fed "moved too fast" with its 50-point cut. This is unusual, since investors will typically snap up these assets after a rate cut. Related storiesSome on Wall Street noted that the Fed's decision to cut beyond 25 basis points was essentially a signal that the central bank is moving past inflation. To Contopoulos point, this may be premature, as August's consumer price index report still stood above the 2% inflation target.

Persons: —, Wharton, Jeremy Siegel, Michael Contopoulos, Bernstein, Contopoulos, Powell, Narayana Kocherlakota Organizations: Service, Business, Bernstein Advisors, CNBC, Wall, University of Rochester

☆ The Fed's biggest interest rate call in years happens Wednesday. Here's what to expect
▼ + stars: | 2024-09-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.

Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC

☆ Tesla Semi fire in California took 50,000 gallons of water to extinguish
▼ + stars: | 2024-09-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

A single-vehicle collision last month involving a Tesla Semi electric truck took 50,000 gallons of water to extinguish and required aircraft to dump fire retardant overhead, according to a preliminary report on Friday from the National Transportation Safety Board. The Tesla truck, driven by an employee, was headed to the company's battery factory in Sparks, Nevada, from a warehouse in Livermore, California, the report said. Tesla CEO Elon Musk first showed off the Semi truck design at an event in November 2017, promising it would come to market in 2020. "Preparation of Semi factory continues and is on track to begin production by end of 2025," Tesla said in its second-quarter earnings report in July. The NTSB report confirmed that Tesla's driver-assistance systems, which are marketed as Autopilot and Full Self-Driving (Supervised) in the U.S., were not "operational" at the time of the Semi collision and fire.

Persons: Tesla, Elon Musk Organizations: National Transportation Safety Board, NTSB, CAL Locations: Lake Tahoe, reigniting, Sparks , Nevada, Livermore , California, Nevada, U.S

☆ This mom is giving kids in her community clothes, education, and a link to their Native American culture
▼ + stars: | 2024-09-13 | by ( Allie Torgan | ) edition.cnn.com time to read: +4 min

Across the state, Native American children are overrepresented in the foster care system, while there is a shortage of Native American foster parents. “If it’s a mom that can’t provide diapers or if there’s a young person that has a need for shoes, then we want to try to help support that need,” Manuel said. Today, she helps fill in gaps and provide resources for all Native American children. Ultimately, she says her work is about building safe, positive, and culturally sensitive homes for all Native American children, no matter who is caring for them. I want kids to come and feel like their sense of identity and culture is right there,” Manuel said.

Persons: Elisia Manuel, ‘, ’ ” Manuel, “ That’s, Manuel, Tecumseh, Elisia Manuel — Allie Torgan, ” Manuel, “, ’, ”, Allie Torgan, they’ll Organizations: Arizona CNN, Apache, CNN Locations: Sacaton, Arizona, Gila, American

☆ Hedge fund billionaire and Trump donor John Paulson says market would 'crash' under Harris tax plans
▼ + stars: | 2024-09-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"I think if they implement those policies, we'll see a crash in the markets, no question about it." Meanwhile, Harris previously endorsed the tax increases proposed by Biden that include a 25% tax on unrealized gains for households worth at least $100 million, known as the billionaire minimum tax. However, people close to the Harris campaign, including investor Mark Cuban, have said she has no interest in taxing unrealized gains and there are doubts if any such plan could make it through Congress. The 68-year-old investor believes the economy could quickly tip into a recession as well if the specific plan to tax unrealized gains were to be implemented. The investor also said the lower taxes would spark economic gains that help raise revenues and close the deficit gap.

Persons: John Paulson, Donald Trump, Kamala Harris, Paulson, Sara Eisen, Joe Biden, Harris, Biden, Mark Cuban, …, Trump Organizations: Democratic, Trump, CNBC

☆ The one question on everyone’s mind about interest rates
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

That’s precisely why the Fed is poised to cut interest rates in September for the first time since 2020. Therein lies the one question on everyone’s mind: How aggressively will the Fed ultimately cut rates? A high threshold for jumbo rate cutsThe Fed makes its decisions on interest rates consistent with what’s happening in the economy. Fed officials have mostly signaled that they’re finally ready to cut rates, but some have still expressed some hesitance. But, for now, there’s no emergency demanding the Fed cut rates aggressively next month, or any time later in the year.

Persons: Jerome Powell, pare, Price, Powell, “ They’re, ” Tani Fukui, they’re, Raphael Bostic, ” Powell, Ryan Sweet, Sweet, That’s Organizations: Washington CNN, Labor Department, Kansas City Fed, Fed, Traders, MetLife Investment Management, CNN, Atlanta Fed, Citi, Oxford Economics Locations: Unemployment, Jackson Hole , Wyoming

CNN —A second former Memphis police officer facing federal civil rights charges in the violent arrest and beating death of Tyre Nichols changed his plea to guilty on Friday in federal court. Mills and Martin are among five former officers charged in the death of Nichols, a 29-year-old Black man. He admitted he “willfully used unreasonable force against Tyre Nichols,” “aided and abetted” other officers in assaulting Nichols and “failed to intervene” in other officers’ use of force. Police said the unit was permanently deactivated shortly after Nichols’ death. The beating and Nichols’ death led to protests and vigils in Memphis and other major US cities, reigniting the contentious debate over policing and the ways that law enforcement treat Black people.

Persons: Tyre Nichols, Emmitt Martin III, Desmond Mills, Nichols, Martin, Mills, Tadarrius Bean, Demetrius Haley, Justin Smith, ”, “, ” “, abetted, ” RowVaughn Wells, “ Tyre, Martin’s, ” Wells, ” Ben Crump, Rodney Wells, we’ll, Derek Chauvin’s, George Floyd, ” Crump, Crump Organizations: CNN, Memphis, Force, Memphis Police Department, Police Locations: Memphis, Minneapolis, America, Shelby County

☆ Harris and Trump both hate inflation. Their economic proposals could cause prices to go higher
▼ + stars: | 2024-08-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Both candidates’ plans would probably raise the deficit and increase demand, including through government spending and tightening the labor market, Joe Brusuelas, chief economist at RSM US, told CNN via email. Trump has so far not released as detailed an economic plan as Harris. Risks of fueling demandA central part of Harris’ economic plan is making housing more affordable. “The problem right now is too many people chasing too few houses,” Justin Wolfers, professor of public policy and economics at the University of Michigan, told CNN. Economists have told CNN that businesses would be forced to raise wages and prices.

Persons: what’s, Kamala Harris, Donald Trump, Harris, Trump, Joe Brusuelas, Brusuelas, Harris ’, ” Marc Goldwein, ” Goldwein, “, ”, Biden, Joe Biden, ” Justin Wolfers, Michelle Holder, Holder, …, ’ Trump, ” Harris Organizations: CNN, RSM, Budget, Child Tax, “, Federal Reserve, Tax Foundation, Social Security, University of Michigan, John Jay College, Center, American Progress Fund, Peterson Institute for International Economics, National Guard Locations: ”, New York, China

☆ ‘Zombie star’ of supernova that exploded in 1181 revealed by study
▼ + stars: | 2024-08-13 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

But Zijlstra, who was not involved with the new study, was the first to make the connection to SN 1181. The report suggested that SN 1181 might belong to the elusive Type Iax category of supernova due to the presence of this “zombie” white dwarf. That energy causes the sudden brightness of the supernova.”That massive collision might explain another curious aspect of the SN 1181 zombie star. “We theorize that the star reignited because SN 1181 was a Type Iax supernova, which is an incomplete explosion. Schaefer added that SN 1181 represents one of the few reliable connections from supernova to supernova remnant.

Persons: ”, Takatoshi Ko, Albert Zijlstra, Dana Patchick, Zijlstra, ” Zijlstra, “, coauthors, NASA's Chandra, ” Ko, Chandra, Ko, Bradley Schaefer, Schaefer, ” Schaefer, astrophysicists Organizations: CNN, Astrophysical, University of Tokyo, University of Manchester, Survey, NASA, ESA, JPL, Caltech, Subaru, Louisiana State University Locations: China, Japan, England, New Mexico, Hawaii

☆ Scientists digitally dissect ancient Egyptian ‘screaming’ mummy
▼ + stars: | 2024-08-03 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —Ancient Egypt’s pyramids, pharaohs and artifacts delight the imagination, reigniting wonder of the distant past in every generation. Experts are also using the latest techniques to spill secrets hidden within discoveries made decades ago, with new research this week “digitally dissecting” an unusual mummy found in 1935. The "screaming woman" whose mummified remains were discovered in 1935 may have died violently, a new study suggests. — To keep swimmers and beachgoers safe, scientists are using artificial intelligence to detect juvenile sharks, which like to hang out near the shore. They find wonder in planets beyond our solar system and discoveries from the ancient world.

Persons: Sahar Saleem, Saleem, Saleem couldn’t, Venus, Guillermo Legaria, Lonely Guy, —, Ashley Strickland, Katie Hunt Organizations: CNN, Metropolitan Museum of Art, Kasr Al, Cairo University, Mercury, European Space Agency, Japan Aerospace Exploration Agency, NASA, JPL, Caltech Venus, Lonely, —, CNN Space, Science Locations: ., Damietta, Egypt, Luxor, New York City, Kasr Al Ainy, Europe, Asia, Thailand, Southeast Asia

☆ Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun
▼ + stars: | 2024-07-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company's production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Boeing has named Robert "Kelly" Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX . His appointment Wednesday came alongside Boeing's second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales. "Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies."

Persons: Kelly Ortberg, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, Boeing's, Calhoun, Kelly, Steven Mollenkopf Organizations: Rockwell Collins Inc, Boeing, Rockwell, Collins Aerospace Locations: Manchester , Iowa, U.S

☆ Kenyan protesters vow to seize country’s main airport as deadly unrest continues into sixth week
▼ + stars: | 2024-07-23 | by ( Larry Madowo | ) edition.cnn.com time to read: +2 min

Nairobi, Kenya CNN —Protesters in Kenya have vowed “a total shutdown” as they seize control of Nairobi’s main international airport on Tuesday as deadly anti-government demonstrations intensify, now entering their sixth week. At least 50 people have been killed during the protests and more than 400 injured, according to the Kenya National Commission on Human Rights. The cabinet nominees still need parliamentary approval, but they’re likely to be confirmed since Ruto’s party holds the required majority. On Sunday, the president expressed frustration with the protests, declaring that “enough is enough” after failed attempts at dialogue. “They keep saying they’re faceless, formless.

Persons: “, Police Douglas Kanja, William Ruto, Ruto, ” Ruto, I’ve Organizations: Kenya CNN — Protesters, Kenya National Commission, Human Rights, Jomo Kenyatta International Airport, ” Authorities, Police Locations: Nairobi, Kenya, Ruto

☆ Dollar set to eke out weekly gain as traders weigh U.S. rates, yen wobbles
▼ + stars: | 2024-07-19 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady and poised to snap a two-week losing run on Friday as U.S. labour and manufacturing data kept traders pondering on when and by how much the Federal Reserve would cut rates this year. The dollar was steady and poised to snap a two-week losing run on Friday as U.S. labor and manufacturing data kept traders pondering on when and by how much the Federal Reserve would cut rates this year. The Federal Reserve is scheduled to meet at the end of July where markets anticipate a very low chance of the central bank cutting rates. Ryan Brandham, head of global capital markets for North America at Validus Risk Management, said the U.S. economy is getting closer to where a rate cut may be appropriate. In other currencies, the Australian dollar eased 0.11% to $0.66985, while the New Zealand dollar was 0.22% lower at $0.6032.

Persons: Ryan Brandham, Mary Daly, Daly, recouping, Sterling Organizations: Federal Reserve, Bank of Japan, Traders, U.S, Federal, North America, Validus Risk, Fed, Federal Reserve Bank of San Francisco, Dallas Fed, European Central Bank, ECB, Bank of England, New Zealand Locations: Tokyo, Japan, U.S, Britain

☆ White House Pushes Rent Cap, Reigniting Debate on Housing Policy
▼ + stars: | 2024-07-19 | by ( Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

When the Biden administration laid out a suite of plans this week to address housing affordability, it added a bold update to previous proposals — and sent the housing industry and the economics world buzzing. The White House called on Congress to pass legislation giving “corporate landlords” — defined by the White House as those with over 50 rental units — a choice to cap annual rent increases on existing units at 5 percent annually or lose federal tax breaks based on property depreciation. The proposal is expected to go largely unaddressed this year, with Congress in campaign mode. Tenant organizations and progressive leaders generally allied with the administration’s economic team cheered the news. Yet a range of economists, Wall Street analysts, real estate groups and landlord associations responded with forceful critiques, assailing the limits as counterproductive.

Persons: Biden, ” — Organizations: White, Wall Street

Powell’s balancing actThe S&P 500 is on a six-day winning streak and closed at another record on Tuesday, as investors grow more confident that the Fed could cut interest rates soon. The market rally came after Jay Powell, the Fed chair, made encouraging comments about inflation and the labor market in his first of two days of testimony on Capitol Hill. Lowering rates prematurely could risk reigniting inflation, and doing so too slowly could undermine growth. “We’re very much balancing those two risks, and that’s really the essence of what we’re thinking about these days,” Powell told the Senate Banking Committee on Tuesday. In something of a rarity in recent months, financial services stocks led the way on Tuesday.

Persons: Jay Powell, that’s, ” Powell, Powell Organizations: Capitol, Senate, Wall

☆ 5,000 Miles, 8 Countries: The Path to the U.S. Through One Family’s Eyes
▼ + stars: | 2024-07-08 | by ( Luis Ferré-Sadurní | Juan Arredondo | ) www.nytimes.com time to read: +21 min

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

☆ Apple finally gets some good news in China as iPhone shipments surge
▼ + stars: | 2024-07-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Apple's iPhone shipments in China surged 40% in May, according to Bloomberg calculations. Shipments soared more than 50% in April, suggesting Apple is regaining ground in the key market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple appears to be reigniting iPhone demand in China, but its profit margins could pay the price. iPhone shipments in China soared about 40% in May, dwarfing a 13% rise in overall smartphone shipments.

Persons: —, dwarfing Organizations: Bloomberg, Apple, Service, China Academy of Information, Communications Technology, Business Locations: China

☆ Sizzling out? As peak barbecue season begins, fewer Americans are buying grills
▼ + stars: | 2024-06-30 | by ( Erika Tulfo | ) edition.cnn.com time to read: +9 min

Lockdown was a grill (seller)’s best friendIt’s not a result of Americans cooking outside on grills less. Roy Morchian, owner of American Royal Hardware in Montclair, New Jersey, says grill sales have returned to pre-pandemic levels at the local True Value franchise. Downey sees Home Depot’s grill sales stabilizing now following the lockdown-driven high. Weber Grills are offered for sale at a home improvement store on July 23, 2021 in Palatine, Illinois. Traeger Grills holds demos and activations at Home Depot, Ace Hardware, and specialty retailers across the country.

Persons: Weber, ”, Brian Bushfield, It’s, Roy Morchian, Paul Glader, Joe Downey, Jessica Hernandez, ” Corey Martin, Traeger’s, Covid, ” Martin, Downey, Scott Olson, Jeremy Andrus, Simeon Siegel, they’re, “, Price, Shikhiu Ing, fryer, Andrus, Ayla Dunkley, Dunkley Organizations: CNN, West, Barbecue Association, American, Hardware, Depot Senior Merchant, CNN San Diego Grill, Texas, Grill, Downey, Getty, Weber, Rewards, Depot, BMO Capital Markets, US Department of Agriculture, “, ”, American Farm Bureau Federation Locations: Traqline, San Diego , California, Covid, Montclair , New Jersey, Montclair , NJ, Houston, Palatine , Illinois, Bloomfield , New Jersey, Newark , New Jersey, Pennsylvania

☆ India's major bond market milestone could prove to be a double-edged sword for investors
▼ + stars: | 2024-06-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

(Photo by Ajay Aggarwal/Hindustan Times via Getty Images)Indian government bonds reached a major milestone on Friday with their inclusion in JPMorgan's emerging market government bond index. Take the broad L&G India Government Bond exchange-traded fund, for instance. Anticipating the Wall Street bank's decision, alongside Bloomberg's move to include India in a similar index next year, markets have partly pushed up bond prices in 2024 despite the risks of inflation reigniting. While these moves by big Wall Street institutions might be lucrative for investors today, it's likely to dampen their returns over the longer term. After all, as bond prices rise their yields fall.

Persons: Ajay Aggarwal, Bloomberg's, that's Organizations: Hindustan Times, Getty Images, G India Government Bond Locations: DELHI, INDIA, New Delhi, India

☆ I was rejected from Google 7 times. Here's what I changed to finally land my dream job.
▼ + stars: | 2024-06-28 | by ( Qingyue Annie | ) www.businessinsider.com time to read: +9 min

Read previewMy journey to finally landing a job at Google was an emotional roller coaster. Looking up at the stars on my walk home, I'd remember why I was working for my goal, grit my teeth, and do one more round of practice. My final attemptWhile I valued my experience at Amazon, Google still felt like an elusive dream to me. Qingyue(Annie) WangI have the job of my dreamsIt's been two years since I got the news that I'd finally landed a job at my dream company. I'm grateful to have had the opportunity to finally experience Google's culture and even become an internal career coach to support other Googlers in their career growth.

Persons: —, I'd, hadn't, they'd, Annie, Wang I, It's, Qingyue, Wang Organizations: Service, Google, Business, Apple

☆ Yen weakens past 160 against the dollar, reigniting intervention speculation
▼ + stars: | 2024-06-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption. Bloomberg | Bloomberg | Getty ImagesThe Japanese yen hit a near-38 year low against the U.S. dollar late Wednesday, raising expectations that authorities could intervene in currency markets again. Stock Chart Icon Stock chart iconThe last time the yen crossed the 160 level, the currency subsequently strengthened sharply during the trading session, prompting analysts to speculate about an intervention. Japan's Ministry of Finance later confirmed the intervention in May, saying that it had spent 9.7885 trillion yen ($62.25 billion) on currency intervention between April 26 and May 29, according to a Google-translated statement. That was the first time that the Japanese government has undertaken such a market measure since October 2022, according to ministry records.

Organizations: National Printing Bureau, Bloomberg, Getty, U.S ., Japan's Ministry of Finance Locations: National Printing Bureau Tokyo, Tokyo, Japan

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