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☆ After Shunning Scientist, University of Pennsylvania Celebrates Her Nobel Prize
▼ + stars: | 2023-10-04 | by ( Gregory Zuckerman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: pennsylvania

☆ In hedge funds' backyard, private credit is the toast of the town
▼ + stars: | 2023-10-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Instead, people like Ken Kencel — CEO of Churchill Asset Management, a private credit division of asset management giant Nuveen — held court. In the next decade, he predicted that private credit shops and direct lenders could fill in the holes in the asset-based lending space, as well as home and auto loans. Private credit — or alternative credit or direct lending — is a subsect of finance that has grown rapidly thanks to higher interest rates and distressed banks. Higher interest rates are forcing institutions — the pensions and endowments that make up hedge funds' biggest investors — to rethink their portfolios. But while the Bridgewater founder had the rapt attention of the room, it was at a direct lending panel a couple of hours later when an ambitious audience member pitched himself to the private credit executives onstage.

Persons: Ray Dalio, Cliff Asness, Ken Kencel, —, I've, Banks, Gregory Robbins, Jan Van Eck Organizations: Greenwich Economic, Churchill Asset Management, Golub Capital, Bridgewater Locations: Greenwich, China

☆ The upside surprises to economic data won't last, says SoFi's Liz Young
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe upside surprises to economic data won't last, says SoFi's Liz YoungDan Greenhaus, Solus Alternative Asset Management chief strategist, Liz Young, SoFi head of investment strategy, and Gregory Branch, founder and managing partner at Veritas Financial Group, join 'Closing Bell' to discuss markets, rising yields, and rates.

Persons: SoFi's Liz Young Dan Greenhaus, Liz Young, Gregory Branch Organizations: Asset Management, Veritas Financial Group

☆ Watch CNBC's full interview with Solus' Dan Greenhaus, SoFi's Liz Young and Veritas' Greg Branch
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solus' Dan Greenhaus, SoFi's Liz Young and Veritas' Greg BranchDan Greenhaus, Solus Alternative Asset Management chief strategist, Liz Young, SoFi head of investment strategy, and Gregory Branch, founder and managing partner at Veritas Financial Group, join 'Closing Bell' to discuss markets, rising yields, and rates.

Persons: Solus, Dan Greenhaus, SoFi's Liz Young, Greg Branch Dan Greenhaus, Liz Young, Gregory Branch Organizations: Veritas, Asset Management, Veritas Financial Group

☆ A top economist explains why a US recession is still on the table
▼ + stars: | 2023-10-03 | by ( Phil Rosen | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The US economy is showing signs of resilience, including from the labor market and consumer spending. The labor market has remained robust, steady economic growth is still there, and consumers have yet to buckle. "I think there's still risks gradually accumulating in the economy," Kimbrough said. AdvertisementAdvertisementConsumer and labor market risks loomA number of factors pose as headwinds for consumers, in the chief economist's view. Gregory Daco, EY's chief economist, also recently warned that there are headwinds impacting consumers, forcing them to perhaps cut back on spending.

Persons: isn't, —, Jeremy Grantham, Jamie Dimon, Karin Kimbrough, LinkedIn's, it's, Kimbrough, they've, Gregory Daco, Daco Organizations: Service, Chicago Fed, BlackRock, Labor, of Labor Statistics, Federal Reserve Bank of New York's Center, Microeconomic

(AP) — The federal government has joined several former workers in suing Union Pacific over the way it used a vision test to disqualify workers the railroad believed were color blind and might have trouble reading signals telling them to stop a train. Union Pacific didn't immediately respond to questions about the lawsuit Monday. The EEOC said in its lawsuit that the test doesn't replicate real world conditions or show whether workers can accurately identify railroad signals. Some of the workers who sued had failed Union Pacific's “light cannon” test but passed another vision test that has the approval of the Federal Railroad Administration. The workers involved in the lawsuit were doing their jobs successfully for Union Pacific for between two and 30 years.

Persons: ”, Gregory Gochanour, EEOC Organizations: Union Pacific, Pacific, EEOC’s Chicago, Federal Railroad Administration Locations: OMAHA, Neb, Norfolk Southern, Ohio, Pennsylvania, East Palestine, Pacific, Minnesota , Illinois, Arizona , Idaho , California , Kansas , Nebraska , Oregon, Washington, Texas, The Omaha , Nebraska

☆ Biden says there's 'not much time' to keep aid flowing to Ukraine and Congress must 'stop the games'
▼ + stars: | 2023-10-01 | by ( ) www.cnbc.com time to read: +7 min

Biden urged Congress to negotiate an aid package as soon as possible. "The vast majority of both parties — Democrats and Republicans, Senate and House — support helping Ukraine and the brutal aggression that is being thrust upon them by Russia," Biden said. The money later was approved separately, but opponents of Ukraine support celebrated their growing numbers. Then, on Saturday, House Speaker Kevin McCarthy, R-Calif., omitted additional Ukraine aid from a measure to keep the government running until Nov. 17. Biden said that deal was made to keep the government running and he worked to reassure U.S. allies additional funding would be there.

Persons: Joe Biden, John McCain, Biden, Roosevelt, Kevin McCarthy, Josep Borrell, Volodymyr Zelenskyy, Chuck Schumer, Schumer, McCarthy, Mitch McConnell, House . Florida Sen, Rick Scott, Scott, Mike Rogers, that's, you've, Rogers, Gregory Meeks, Zelenskyy, Meeks, Donald Trump Organizations: Tempe Center, Arts, Sunday, Ukraine, Russia, — Democrats, Republicans, Senate, House, White, Democrat, Republican, Union, Capitol, Ukrainian, House ., Alabama, House Armed Services Committee, Pentagon, Rep, House Foreign Affairs, FBI, IRS, Justice Department, Biden Locations: Tempe , Arizona, Ukraine, Russia, Kyiv, U.S, United States, Kentucky, House, House . Florida

☆ Damar Hamlin plays in first regular season game since January cardiac arrest
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] Oct 1, 2023; Orchard Park, New York, USA; Buffalo Bills safety Damar Hamlin (3) warms up prior to the game against the Miami Dolphins at Highmark Stadium. Mandatory Credit: Gregory Fisher-USA TODAY Sports Acquire Licensing RightsOct 1 (Reuters) - Damar Hamlin returned to action on Sunday in the Buffalo Bills' 48-20 victory over the visiting Miami Dolphins, which marked his first regular season game since he suffered a cardiac arrest in January. Hamlin, who was a healthy scratch for the Bills' first three games of the 2023 National Football League season, was then on the field with the kickoff return unit to open the game. After Buffalo scored a touchdown on their opening drive, Hamlin returned to the field with the kickoff coverage unit. He was discharged from hospital nine days after his cardiac arrest, cleared to resume football activities in April and his remarkable recovery captivated the sporting world.

Persons: Damar Hamlin, Gregory Fisher, Hamlin, Frank Pingue, Christian Radnedge Organizations: Buffalo Bills, Miami Dolphins, Highmark, USA, Bills, National Football League, Buffalo, Cincinnati Bengals, Thomson Locations: Orchard, , New York, USA, Toronto

Still, many lawmakers acknowledge that winning approval for Ukraine assistance in Congress is growing more difficult as the war between Russia and Ukraine grinds on. Then, on Saturday, House Speaker Kevin McCarthy omitted additional Ukraine aid from a measure to keep the government running until Nov. 17. In the Senate, both Schumer and Senate Republican Leader Mitch McConnell pledged to move quickly to try and pass the full White House request. “Majorities in both parties support Ukraine aid, and doing more is vital for America’s security and for democracy around the world.”Leading up to Saturday's vote, Pentagon officials expressed alarm at the prospect of no extra funding for Ukraine. “Every day that goes by that we don’t get the additional money is a day Russia gets closer to being capable of winning this war,” Murphy said.

Persons: Joe Biden's, Kevin McCarthy, Volodymyr Zelenskyy, Chuck Schumer, “, ” Schumer, McCarthy, ” McCarthy, Schumer, Mitch McConnell, House . Florida Sen, Rick Scott, ”, Scott, Michael McCord, ” McCord, Mike Rogers, that's, you've, ” Rogers, Gregory Meeks, Zelenskyy, ” Meeks, Donald Trump, Biden, Sen, Chris Murphy, Conn, ” Murphy, Jim Risch of, ” Risch, Stephen Groves, Mary Clare Jalonick Organizations: WASHINGTON, Republicans, Senate, White, Russia, Republican, Capitol, Ukrainian, ”, House ., Pentagon, Ukraine, House Armed Services Committee, Rep, House Foreign Affairs, FBI, IRS, Justice Department “, Biden, Senate Foreign Relations, Associated Press Locations: Ukraine, Russia, United States, House, House . Florida, U.S, Jim Risch of Idaho

Senator Ben Cardin (D-MD) speaks at a committee meeting after assuming the chairmanship of the Senate Foreign Relations Committee at the U.S. Capitol on Capitol Hill in Washington, U.S., September 28, 2023. REUTERS/Craig Hudson/File Photo Acquire Licensing RightsWASHINGTON, Sept 30 (Reuters) - The chairman of the U.S. Senate Foreign Relations Committee vowed on Saturday to block military aid and arms sales to Egypt if it does not take concrete steps to improve human rights in the country. Much of the aid has been withheld in recent years over concerns about human rights abuses under the government of President Abdel Fattah al-Sisi. But President Joe Biden's administration announced this month it had decided to waive human rights restrictions on $235 million of the aid, citing security benefits to the U.S. It is currently withholding $85 million of the aid, a fraction of the $1.3 billion a year allocated for Egypt.

Persons: Ben Cardin, Craig Hudson, Gregory Meeks, Bob Menendez, Menendez, Cardin, Abdel Fattah al, Joe Biden's, Matt Spetalnick, Patricia Zengerle, Daniel Wallis Organizations: Senate Foreign, U.S, Capitol, REUTERS, Rights, U.S . Senate Foreign, Democratic U.S, Representatives Foreign, State Department, Senate Foreign Relations Committee, Democratic, Washington, Thomson Locations: Washington , U.S, Egypt, Washington, Israel

☆ Senior Senate Democrat Threatens to Block Military Aid to Egypt on Human Rights Grounds
▼ + stars: | 2023-09-30 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Matt Spetalnick and Patricia ZengerleWASHINGTON (Reuters) -The chairman of the U.S. Senate Foreign Relations Committee vowed on Saturday to block military aid and arms sales to Egypt if it does not take concrete steps to improve human rights in the country. Senator Ben Cardin issued the threat in a statement, saying "it is imperative that we continue to hold the government of Egypt, and all governments, accountable for their human rights violations." Much of the aid has been withheld in recent years over concerns about human rights abuses under the government of President Abdel Fattah al-Sisi. But President Joe Biden's administration announced this month it had decided to waive human rights restrictions on $235 million of the aid, citing security benefits to the U.S. It is currently withholding $85 million of the aid, a fraction of the $1.3 billion a year allocated for Egypt.

Persons: Matt Spetalnick, Patricia Zengerle WASHINGTON, Ben Cardin, Gregory Meeks, Bob Menendez, Menendez, Cardin, Abdel Fattah al, Joe Biden's, Patricia Zengerle, Daniel Wallis Organizations: U.S . Senate Foreign, Democratic U.S, U.S, Representatives Foreign, State Department, Senate Foreign Relations Committee, Democratic, Washington, Egypt Locations: Egypt, Washington, Israel

☆ Dan Loeb’s Hot Hand Goes Cold
▼ + stars: | 2023-09-29 | by ( Gregory Zuckerman | Peter Rudegeair | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/investing/dan-loeb-third-point-hot-hand-goes-cold-5a2fb19

Persons: Dow Jones, loeb

"We know that the British economy recovered faster from the pandemic than anyone previously thought and data out today once again proves the doubters wrong," finance minister Jeremy Hunt said. And that's before the full drag from higher interest rates has been felt," said Ruth Gregory, deputy chief UK economist at Capital Economics. The upward revisions were concentrated in 2020 and 2021, during the height of the pandemic and immediate aftermath. Growth in 2021 was revised to 8.7% from 7.6%, while the size of 2020's historic slump was reduced to 10.4% from 11.0%, in line with preliminary guidance on Sept. 1. Growth in 2022 was revised up to 4.3% from 4.1%.

Persons: Rachel Adams, Jeremy Hunt, Ruth Gregory, Thomas Pugh, Capital's Gregory, David Milliken, Andy Bruce, William James, Toby Chopra Organizations: Oxford, REUTERS, National Statistics, European Union, Capital Economics, The Bank of England, RSM, Reuters Graphics Reuters, ONS, Thomson Locations: Britain, London, Germany, France, United States, Japan, Italy, Canada, Ukraine

☆ South China Sea tensions are flaring between the Philippines and China. Here's why it matters for the world
▼ + stars: | 2023-09-29 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Video Ad Feedback Why it matters who owns the seas (April 2021) 03:48 - Source: CNNWhy does the South China Sea matter? The South China Sea is home to hundreds of largely uninhabited islands and coral atolls and diverse wildlife at risk from climate change and marine pollution. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing freedom of the seas worldwide. Marcos has strengthened US relations that had frayed under his predecessor, with the two allies touting potential future joint patrols in the South China Sea.

Persons: It’s, China’s, Defense Lindsey Ford, ”, Stringer, Ferdinand “ Bongbong ” Marcos Jr, Jay Batongbacal, “, Marcos Jr, Rodrigo Duterte, Marcos, Gregory Poling Organizations: Hong Kong CNN —, Navy, CNN, US Energy Information Agency, Communist Party, United, US Navy, Defense, Asia, Washington -, Strategic, International Studies, Ford, Spratly Islands, University of the, Philippine Coast Guard, China’s Ministry of Foreign Affairs, Transparency, Philippines Mutual Defense Locations: Hong Kong, South China, China, Beijing, Philippines, United States, South, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Manila, Scarborough, Spratly, People’s Republic of China, Washington, Philippine, University of the Philippines, Asia

☆ MLB roundup: Ronald Acuna, Braves clinch home field
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +12 min

Mandatory Credit: Dale Zanine-USA TODAY Sports Acquire Licensing RightsSeptember 28 - Ronald Acuna Jr. made more history on Wednesday and helped the Atlanta Braves secure home-field advantage throughout the National League playoffs. Acuna became the first player in major league history to have 70 stolen bases and 40 home runs in the same season. Toronto right-hander Jose Berrios (11-12) allowed four runs and five hits while striking out 10 in six innings. Reliever Orion Kerkering (1-0) pitched a scoreless inning for the win in his second major league appearance. Miguel Rojas had three hits, David Peralta hit two doubles and rookie Emmet Sheehan (4-1) pitched six innings of two-run ball.

Persons: Ronald Acuna Jr, Dale Zanine, Acuna, Ozzie Albies, Yordan Alvarez, Mauricio Dubon, Martin Maldonado, Kendall Graveman, J.P, Crawford, Bryce Miller, Aaron Judge, Gerrit Cole, Cole, American League Cy Young, haven't, Jose Berrios, Corbin Carroll, Brandon Pfaadt, Adley Rutschman, Grayson Rodriguez, Keibert Ruiz, Patrick Corbin, Tyrone Taylor, Louis, Brian Anderson, Jacob Barnes, Matthew Liberatore, Anderson, William Contreras, Taylor, Joel Payamps, Devin Williams, Pete Alonso, Francisco Lindor, Mark Vientos, Lindor, Jeff McNeil, Jon Berti, Chisholm, Jake Burger, Braxton Garrett, Xavier Edwards, Edwards, Adam Ottavino, Jon Berti's, Josh Bell, Yuli Gurriel, Brett Baty, Kodai Senga, Hideo Nomo, Trevor Larnach, Edouard Julien, Ryan Jeffers, Max Kepler, Willi Castro, Christian Vazquez, Jeffers, Dallas Keuchel, Brent Rooker, Lawrence Butler, Nick Allen, Dany Jimenez, Dane Dunning, Adolis Garcia, Evan Carter, Marcus Semien, Garcia, Dunning, Griffin Canning, Randal Grichuk, Zach Neto, Brandon Drury, Mike Moustakas, Tyler Glasnow, Josh Lowe, Isaac Paredes, Garrett Stubbs, Bryce Harper, Edmundo Sosa, Orion Kerkering, Gregory Soto, Connor Joe, Ke'Bryan Hayes, Tarik Skubal, Miguel Cabrera, Shane Bieber, Cleveland's Brayan Rocchio, Tyler Freeman, Josh Naylor, Jose Tena, Terry Francona, Cincinnati's Jonathan India, TJ Friedl, James Outman, Freddie Freeman, Miguel Rojas, David Peralta, Emmet Sheehan, Brendan Rodgers, Sean Bouchard, Noah Davis, Manny Machado, John Brebbia, Tom Cosgrove, Josh Hader Organizations: Atlanta Braves, Chicago Cubs, National League, Braves, Cubs, Arizona, NL, Diamondbacks, Chicago White Sox, Wednesday, Astros, Mariners, Houston, Seattle, The Astros, Yankees, Blue Jays, New York, Toronto, American League, Houston Astros, White Sox, Chicago, Marlins, Miami, New York Mets, Orioles, Baltimore, American League East, Tampa Bay Rays, Boston Red Sox, AL, Washington, Nationals, Brewers, Cardinals, Milwaukee, St, Mets, Los Angeles Dodgers, Athletics, Minnesota, Oakland, Twins, American League Central, Dallas, Rangers, Angels, Los Angeles, American League West, The Rangers, Rays, Red Sox, Tampa, Boston, Tampa Bay's, Phillies, Pirates, Philadelphia, Tigers, Royals, Detroit, Kansas City, Reds, Cleveland, Cincinnati, Guardians, Miami Marlin, Dodgers, Rockies, Angeles, Colorado, Padres, Giants, San Diego, San, Thomson Locations: Cumberland , Georgia, USA, Truist, Brandon, New York, Arizona, Chicago . Arizona, Washington, Baltimore, Tampa, Minneapolis, Texas, Anaheim, Calif, Houston, Seattle, Angeles, Pittsburgh, Denver, San, San Francisco, San Diego

☆ US consumer spending was weaker in the second quarter than previously estimated
▼ + stars: | 2023-09-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

However, consumer spending, America’s economic engine, was revised much lower, to a 0.8% annualized rate, according to data released Thursday. Spending in the second quarter grew at its weakest pace since the first quarter of 2022, when it was flat. Consumer spending accounts for about 70% of economic output. The second quarter stretches from April through June, but the Commerce Department releases consumer spending figures on a monthly basis. In July, consumer spending jumped a robust 0.8%, the strongest monthly gain since January, as shoppers spent on concerts, films, toys and recreational equipment.

Persons: ”, Claire Li, Gregory Daco Organizations: DC CNN, Commerce, Commerce Department, Moody’s Investors, Moody’s Investors Service Locations: Washington, EY

☆ GOP Senate candidate Dave McCormick drops 'pro-life' rhetoric from his website as party strategists urge shift on abortion messaging
▼ + stars: | 2023-09-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Dave McCormick struck an old "Issues" page from his website, including a section on abortion. He's mounting a second Senate bid in Pennsylvania as the GOP mulls a shift in abortion messaging. "Dave is staunchly pro-life and believes that life begins at conception," read the old "Issues" pages, according to the Internet Archive. "I do accept three exceptions... rape, incest, and the life of the mother," McCormick told attendees, according to the audio. A broader shift in abortion messagingMcCormick is launching his second campaign as party leaders and strategists mull a shift in messaging on abortion.

Persons: Dave McCormick, McCormick, —, Dave, Mehmet Oz, Sen, Bob Casey, Elizabeth Gregory, hasn't, Gregory, Casey, Roe, Wade, @SenBobCasey, Ronald Reagan, Donald Trump, mull, Republican Sen, Kevin Cramer of North, David McCormick, Maddy McDaniel, It's Organizations: GOP, Service, Internet, Life, Bridgewater Associates, Trump, Democratic, NBC News, Republican, NBC, Republicans, Pennsylvania Democratic Party Locations: Pennsylvania, Washington , DC, Kevin Cramer of North Dakota

☆ Phillies claw back from five down to best Pirates
▼ + stars: | 2023-09-28 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/36] Sep 27, 2023; Philadelphia, Pennsylvania, USA; Philadelphia Phillies starting pitcher Ranger Suarez (55) throws a pitch during the third inning against the Pittsburgh Pirates at Citizens Bank Park. Mandatory Credit: Eric Hartline-USA TODAY Sports Acquire Licensing RightsSeptember 28 - Garrett Stubbs hit a three-run home run, while Bryce Harper homered and doubled twice to lead the host Philadelphia Phillies past the Pittsburgh Pirates 7-6 on Wednesday. The Phillies rallied from a five-run deficit the night after clinching a playoff berth for the second consecutive season. The Pirates went ahead 3-0 in the first after Hayes and Joe each hit RBI singles. Sosa ripped a solo homer to left and Cristian Pache added an RBI single in the bottom of the fifth as the Phillies equalized at 6.

Persons: Ranger Suarez, Eric Hartline, Garrett Stubbs, Bryce Harper, Edmundo Sosa, Orion Kerkering, Gregory Soto, Connor Joe, Ke'Bryan Hayes, Henry Davis, Jared Triolo, Johan Oviedo, Jose Hernandez, Hayes, Joe, Davis, Harper, Sosa, Rodolfo Castro, Stubbs, Jack Suwinski, Cristian Pache Organizations: Philadelphia Phillies, Pittsburgh Pirates, Citizens Bank, Phillies, Pirates, The Pirates, Philadelphia, Pittsburgh, Thomson Locations: Philadelphia , Pennsylvania, USA

CNN —The second 2024 Republican presidential primary debate ended just as it began: with former President Donald Trump – who hasn’t yet appeared alongside his rivals onstage – as the party’s dominant front-runner. “Tonight’s GOP debate was as boring and inconsequential as the first debate, and nothing that was said will change the dynamics of the primary contest,” Trump campaign senior adviser Chris LaCivita said in a statement. DeSantis, Pence duck health care questions while Haley pouncesDespite the efforts of moderators to pin them down, DeSantis and Pence struggled to respond when challenged on their respective records on health care. A messy first hourThe first hour of the second GOP primary debate was beset by interruptions, crosstalk and protracted squabbles between the candidates and moderators over speaking time. Further complicating the matter, some of the highest polling candidates – DeSantis and Haley – were among those least willing to dive into the muck during the first hour.

Persons: Donald Trump –, –, Ronald Reagan, Nikki Haley, Vivek Ramaswamy, ”, Ron DeSantis, Chris Christie, “ Donald Duck ”, Joe Biden, South Carolina Sen, Tim Scott, Biden, Mike Pence, Doug Burgum, Trump, DeSantis, Christie, He’s, ” Christie, “, ” Trump, Chris LaCivita, Ramaswamy, Scott, Hunter Biden, Pence, “ I’m, Vivek, Haley pounces, Dana Perino, Fox’s Stuart Varney, Varney, ” DeSantis, Haley, ” Haley, – DeSantis, Haley –, Donald Trump Organizations: CNN, GOP, Wednesday, Ronald Reagan Presidential, South Carolina Gov, Florida Gov, Former New Jersey Gov, Trump, South, ” North Dakota Gov, Fox Business Network, Univision, Chinese Communist Party, ”, , South Carolina Gov, Fox, Republicans, Florida, DeSantis, PAC Locations: California, Florida, South Carolina, Michigan, ”, Wednesday’s, China, , South, Milwaukee

Goldman Sachs economists have estimated that a shutdown would reduce growth by about 0.2 percentage points for each week it lasts. But the Goldman researchers expect growth to increase by the same amount in the quarter after the shutdown as federal work rebounded and furloughed employees received back pay. That estimate tracks with previous work from economists at the Fed, on Wall Street and prior presidential administrations. Trump administration economists calculated that a monthlong shutdown in 2019 reduced growth by 0.13 percentage points per week. Because growth and confidence tend to snap back, previous shutdowns have left few permanent scars on the economy.

Persons: Gregory Daco, ” Biden, Goldman Sachs, Goldman, Trump Organizations: Administration, shutdowns, Congressional, Office Locations: EY

☆ Amazon.com faces an array of US consumer, state antitrust lawsuits
▼ + stars: | 2023-09-26 | by ( Mike Scarcella | ) www.reuters.com time to read: +5 min

In the California case, Judge Ethan Schulman in San Francisco Superior Court in March ruled against Amazon's bid to dismiss the lawsuit. CONSUMERS' PRICE INFLATION CLAIMSAmazon faces a pair of consumer lawsuits in Seattle federal court. The consumer plaintiffs, Chun wrote, "allege the type of conduct that antitrust law is intended to prevent." E-BOOKSIn Manhattan federal court, a prospective class action from consumers accuses Amazon of artificially inflating the price of retail trade e-books on the site. U.S. District Judge Gregory Woods has not yet ruled on objections from Amazon and the plaintiffs to Figueredo's report and recommendation.

Persons: Benoit Tessier, Rob Bonta, Ethan Schulman, Amazon's, Schulman, Richard Jones, Jones, John Chun, —, Chun, Ricardo Martinez, Valerie Figueredo, Gregory Woods, Mike Scarcella, Chris Sanders, Matthew Lewis Organizations: REUTERS, U.S . Federal Trade Commission, Amazon.com, Big Tech, FTC, GENERAL, District of Columbia, Walmart, Costco, Amazon, San Francisco Superior Court, District, U.S, Thomson Locations: Bretigny, Paris, France, CALIFORNIA, WASHINGTON, GENERAL California, District, Washington ,, California, Columbia, San Francisco, Seattle, U.S, Maryland, Manhattan, Washington

☆ Trump Lawyers Assail Gag Order Request in Election Case
▼ + stars: | 2023-09-26 | by ( Alan Feuer | More About Alan Feuer | ) www.nytimes.com time to read: +1 min

Lawyers representing former President Donald J. Trump against federal charges accusing him of seeking to overturn the 2020 election offered an outraged response on Monday to the government’s request for a gag order, saying the attempt to “muzzle” him during his presidential campaign violated his free speech rights. In a 25-page filing, the lawyers sought to turn the tables on the government, accusing the prosecutors in the case of using “inflammatory rhetoric” themselves in a way that “violated longstanding rules of prosecutorial ethics.”“Following these efforts to poison President Trump’s defense, the prosecution now asks the court to take the extraordinary step of stripping President Trump of his First Amendment freedoms during the most important months of his campaign against President Biden,” one of the lawyers, Gregory M. Singer, wrote. “The court should reject this transparent gamesmanship.”The papers, filed in Federal District Court in Washington, came 10 days after prosecutors in the office of the special counsel, Jack Smith, asked Judge Tanya S. Chutkan, who is overseeing the election interference case, to impose a narrow gag order on Mr. Trump. The order, they said, was meant to curb Mr. Trump’s “near-daily” barrage of threatening social media posts and to limit the effect his statements might have on witnesses in the case and on the potential jury pool for the trial. It is scheduled to take place in Washington starting in March.

Persons: Donald J, Trump, “, ”, Trump’s, Biden, Gregory M, Singer, Jack Smith, Tanya S, Chutkan, Trump’s “ Organizations: Court Locations: Washington

☆ Branch: Can't be at trough earnings because the cost of capital for businesses is still increasing
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBranch: Can't be at trough earnings because the cost of capital for businesses is still increasingGregory Branch, Managing Partner at Veritas Financial Group, discusses the trading day ahead.

Persons: Gregory Branch Organizations: Veritas Financial

☆ The top economist at EY thinks the US economy faces a 'trifecta' of threats that could make Americans stop shopping and cause a slowdown
▼ + stars: | 2023-09-25 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

EY chief economist Gregory Daco thinks "consumers are becoming more conservative with their spending." Coming up is another headwind: the restart of federal student-loan payments. The different economic threats means consumer spending growth may not be so hot next year, as consumers are already reducing their spending. Other economists have pointed out how the upcoming student-loan payment restart will have an impact on the economy. Have you changed your spending habits or are you spending less on certain items given the restart of student-loan payments, fewer savings, and other factors?

Persons: Gregory Daco, Taylor Swift, it's, Daco, Torsten Sløk, NYU Stern, David Kelly Organizations: Service, Consumer, Bureau of Labor Statistics, BLS, NYU, Morgan Asset Management, AAA, CNBC Locations: Wall, Silicon, American, —, mhoff@insider.com

Storm clouds are growing over the U.S. economy as the third quarter winds down this week. There is the ongoing strike by United Auto Workers members against the major car manufacturers. There is the rising price of oil with the international benchmark Brent crude now sitting above $93 a barrel. Aiding the economy’s escape from a downturn has been an unusual set of circumstances that include falling inflation, rising wages and some leftover stimulus from the COVID pandemic. “Such a shutdown could leave a visible mark on the economy,” Gregory Daco, chief economist at EY Parthenon, said last week.

Persons: Bob Doll, ” Gregory Daco, ” Daco, ” Wells Organizations: United Auto Workers, Brent, Crossmark Advisors, Federal Reserve, ”, Fed Locations: U.S

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