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☆ Billionaire Ray Dalio thinks universal basic income is no magic wand — and may even do more harm than good
▼ + stars: | 2024-07-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewUniversal basic income is winning support from some as a powerful tool to combat poverty, but Ray Dalio thinks it could be harmful and pull cash away from better social programs. Dalio is the billionaire founder of Bridgewater Associates, the world's largest hedge fund, and the official mentor to its three co-chief investors. Who are you giving the $1,000 to, and what will they do with that $1,000?" In a follow-up post, Dalio emphasized that he sees the wealth-and-opportunity gap as the "greatest threat" to the US.

Persons: —, Ray Dalio, Dalio, Lex, who'd Organizations: Service, Bridgewater Associates, Business

☆ Chevron ruling, Biden's reelection bid at risk: Recent news may spell trouble for student loan borrowers
▼ + stars: | 2024-07-08 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

However, Republican-backed states, including Arkansas, Florida and Missouri, filed lawsuits against the SAVE plan earlier this year, putting that relief in jeopardy. watch nowBorrowers likely won't learn more until after the presidential election in November, said Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers. Chevron ruling may limit Education DepartmentMeanwhile, a recent Supreme Court ruling is expected to make it harder for the Education Department to deliver relief to student loan borrowers. Valerie Plesch | Bloomberg | Getty ImagesThat could make Biden's do-over effort at sweeping student loan forgiveness more difficult, Kantrowitz explained. With Biden's future at risk, so is student loan aidBiden has forgiven more student debt than any other president, Kantrowitz said.

Persons: Perry, Brandon Bell, Biden, Scott Buchanan, servicers, Buchanan, Mark Kantrowitz, Pramila Jayapal, Valerie Plesch, Kantrowitz, Biden's, Donald Trump, he's, Kamala Harris Organizations: Castaneda, University of Texas, Getty, Biden, Republican, Student Loan, Alliance, CNBC, Education Department, Bloomberg Locations: Austin, Austin , Texas, Arkansas, Florida, Missouri, Kansas, Chevron, Washington, Washington , DC

☆ I read a 27-year-old cult classic considered one of the most popular money books of all time. Here are my 3 main takeaways.
▼ + stars: | 2024-07-07 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

I first reported on Robert Kiyosaki's "Rich Dad Poor Dad" back in 2015. — part assignment (I recently started reviewing popular money books) and part convenience: "Rich Dad Poor Dad" was gifted to me a few years back and happened to already occupy my bookshelf. His poor dad earned a substantial income but always struggled financially; his rich dad became one of the wealthiest individuals in Hawaii primarily by running businesses. While rich dad wasn't educated in the traditional sense, he understood money — and agreed to pass on that understanding to Mike and Kiyosaki. The former, according to rich dad, will "shut down your brain" and create a "lazy mind," while the latter forces you to be solutions-oriented and get creative.

Persons: Robert Kiyosaki's, Rich Dad, I'd, Dad, What's, It's, he's, Mike, Kiyosaki, wasn't, —, Kiyosaki isn't Organizations: Service, Business, Stanford Locations: Hawaii

☆ A second Trump term would be 'chaos' for student loan borrowers
▼ + stars: | 2024-07-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Read previewDonald Trump has long regarded the student loan forgiveness measures rolled out under the Biden administration as a stunt to garner "publicity for the election." At a campaign event in late June, Trump called Biden-era student debt relief measures "vile," suggesting that student loan borrowers shouldn't count on forgiveness under a second Trump administration. A recent Supreme Court ruling striking down the Chevron doctrine has already weakened the Education Department. Biden-era student loan forgiveness measures, as well as his new income-driven SAVE repayment plan, are making their way through court challenges led by conservative groups, which are not likely to be resolved before 2025. Advertisement"Overall, I think a Biden administration is going to be more favorable for college affordability than a Trump administration," Kantrowitz said.

Persons: —, Donald Trump, Biden, he's, Trump, Pell Grant, Jan Miller, Mark Kantrowitz, Kantrowitz, Betsy Mayotte, who'd Organizations: Service, Biden, Business, of Education, Department of Education, US Department of Education, Education Department, Senate, Trump, The, Student Loan Advisors, Education Department's, Education Locations: Washington ,, Mayotte

☆ Live Election Updates: Biden Hits the Trail as Concern Among Democrats Grows.
▼ + stars: | 2024-07-07 | by ( Nicholas Nehamas | ) www.nytimes.com time to read: +3 min

Pennsylvania is one of the states that Mr. Biden almost certainly must win if he hopes to retain the White House. “President Biden is a fierce supporter of unions, and he won’t cross a picket line,” Lauren Hitt, a Biden campaign spokeswoman, said in a statement. After Philadelphia, Mr. Biden will travel to Harrisburg for a community organizing event with union members on Sunday afternoon. “They don’t need scripted remarks,” said Steve Sisolak, the former Democratic governor of Nevada, who supports Mr. Biden. Be out there, mingle with your folks.”Despite doubts from many Democrats, Mr. Biden has defiantly insisted that he will stay in the race.

Persons: Biden, Mr, Donald J, Trump, Gavin Newsom, “, ” Lauren Hitt, Josh Shapiro, Bob Casey, John Fetterman, Biden’s, ”, Steve Sisolak Organizations: Philadelphia, Pennsylvania, Gov, National Education Association, Biden, Sunday, ABC News, Democratic Locations: Pennsylvania, Harrisburg, Philadelphia, California, Western Pennsylvania, Bucks County, Northwest Philadelphia, Nevada

☆ Gen Z's Never-Ending Safety Net: Living With Mom and Dad
▼ + stars: | 2024-07-07 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

Despite a strong job market, many Gen Zers are still relying on the bank of Mom and Dad to make ends meet. The young adult has their entire life ahead of them. Some parents might be more willing to provide financial support because they want to feel like a good parent. The young adult has their entire life ahead of them," Bailey said. When India Anderson turned 20 and decided to move in with her boyfriend, her mother cut off most financial support.

Persons: David Nuñez, freeloader —, Zers, Nuñez, frazzled, Nuñez's, Gen Zers, Monica Kirkpatrick Johnson, They're, Zillow, haven't, Kirkpatrick Johnson, Jeffrey Jensen Arnett, Jo Clark, Clark, I'm, Teresa Bailey, There's, Ali Lupo, Lupo, —, doesn't, Bailey, JP Krahel, Cody, Erika Archie, Cody Archie, Archie, Erika, there's, They've, India Anderson, Anderson, She's, Uber Organizations: Netflix, Pew Research Center, Pew, Washington State University, Clark University, Waddell & Associates, Urban Institute, Loyola University Maryland Locations: Tampa , Florida, America, Surrey, England, New York, Texas, Orlando

☆ Dating a carpenter taught me my career is not my identity. He doesn't worry about getting laid off and just focuses on the next job.
▼ + stars: | 2024-07-07 | by ( Nia Springer-Norris | ) www.businessinsider.com time to read: +4 min

When Tom said he was a carpenter, I thought of artisan furniture in quaint New England shops. My writing career had just begun when Tom and I became acquainted. AdvertisementWe worked in entirely different industriesThe first time he told me he'd been laid off, I told him I was sorry. AdvertisementHe often says, "I came here looking for a job, and I'll leave here looking for a job." AdvertisementHe's taught me that my career is not my identity.

Persons: —, Tom, Maida, he'd, I've, Nia Springer, Norris, Norris We've, He's, Jobs, We've Organizations: Service, Business Locations: New England, Africa, England, Turkey

☆ Biden Cancels Speech to Teachers After Union’s Staff Strikes
▼ + stars: | 2024-07-06 | by ( Noam Scheiber | More About Noam Scheiber | ) www.nytimes.com time to read: +1 min

A strike by the staff of the nation’s largest teachers’ union has prompted President Biden to cancel a speech on Sunday in Philadelphia, where he was scheduled to address thousands of delegates to the union’s annual convention. The strike has shut down the last three days of the four-day convention, as delegates declined to cross a picket line. “President Biden is a fierce supporter of unions and he won’t cross a picket line,” a statement from his campaign said, adding that the president was still planning to travel to Pennsylvania over the weekend. The National Education Association has about 2.5 million members nationwide, not including retirees, according to a recent government filing. The staff union says it represents more than 350 employees assigned to the union’s headquarters in Washington.

Persons: Biden, N.E.A, Biden’s, “ Organizations: National Education Association Locations: Philadelphia, Pennsylvania, Washington

☆ How a Seattle couple achieved financial independence in their mid-30s after paying their way through school — and why they don't want to retire early
▼ + stars: | 2024-07-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Mai-lan Phan and her husband, Ryan Wagoner, both 36, reached financial independence, but neither wants to fully retire early. Many Americans are working to achieve financial independence — or having enough savings or income to live comfortably for life. Advertisement"I want to be able to walk away from any job if it's not working," Wagoner said. Nerve damage in her right hand prevented her from returning to work full-time. She said their finances were solid enough from not "keeping up with the Joneses" that she could work less while her husband continued to work full-time.

Persons: Phan, Ryan Wagoner, Wagoner, it's, —, I'm, we're, they've, she's, They've, — Phan, We've, we've Organizations: Service, Seahawks, Business, FIRE, Subway, Michigan State University, Microsoft Locations: Phan, Seattle, Michigan, Mexico, Paris, Thailand, Europe, Asia

☆ Argentina once led on LGBTQ rights. After 4 lesbians are set on fire, critics turn on Milei
▼ + stars: | 2024-07-06 | by ( Michael Rios | ) edition.cnn.com time to read: +10 min

CNN —It was an attack that sent shockwaves through a country long considered a pioneer in LGBTQ rights. Local LGBTQ rights advocates condemned the attack as a hate crime and lesbicide, saying the women were targeted because of their sexual identity. After taking office in December, Milei took steps that critics say weakened protections for LGBTQ groups. The recent attacks have galvanized activists to fight for new policies and actions that would further protect LGBTQ rights. He also said that to reduce attacks on LGBTQ communities, their voices and demands should be amplified in more societal sectors.

Persons: Pamela Fabiana Cobas, Mercedes Roxana Figueroa, Andrea Amarante, Sofía Castro Riglo, Pamela, Roxana, Andrea, Sofía, Gabriela Conder, “, ” Conder, aren’t, Javier Milei, ”, Maria Rachid, –, ” Rachid, Juan Mabromata, Milei, Diana Mondino, Don’t, Martin Cossarini, ” Esteban Paulón, ” “, Jesi Hernández, Barracas, Rachid, ” Hernández, Sofia, Conder, Manuel Adorni, ” Adorni, Adorni, lesbicide, Paulón, Hernández Organizations: CNN, Local, Police, Argentine LGBT Federation, Getty, I’m, Ministry of Women, Ministry of Human, Justice, Pride, Reuters, ” CNN, National Observatory, Progressives, University of San Locations: Argentina, Barracas, Buenos Aires, Conder, AFP, “, Sofia’s, Argentina Argentina, America, University of San Andrés

☆ Beckham, Guardiola and the Princess of Wales: Welcome to Wimbledon’s Royal Box
▼ + stars: | 2024-07-06 | by ( Nick Miller | ) www.nytimes.com time to read: +13 min

On the upside, you get the best view in the house for the most famous tennis tournament in the world. The Royal Box at Wimbledon is an unending source of fascination for people ostensibly tuning in to watch some top-class sport. Guardiola and Williamson acknowledged the crowd, as is traditional in the Royal Box on middle Saturday. You get drinks on arrival, served on the balcony behind Centre Court, which overlooks some of the smaller courts. The invitation reads: ‘The Chairman and Committee of Management of The Championships request the pleasure of the company of [insert name] & Guest in the Royal Box on [insert date].

Persons: Jeff Bezos, David Attenborough, Princess, Wales, Kylie Minogue, Prince Albert of Monaco, Pep Guardiola, Bear Grylls, David Beckham, Samuel L Jackson, David Cameron, Sachin Tendulkar, Richard Branson, Alex Ferguson, James Bond, Christopher Eubanks, Debbie Jevans, Jevans, Pat Cummins, Niamh Cusack, Sir John Timpson, Keir Starmer’s, Theresa May, Sir David Attenborough, Katherine Jenkins, Dave Grohl, Olga Morozova, Ian Hewitt, Dame Sarah Gilbert, Gilbert, Irene Tracey, Dame Ruth Beverley, Nazanin Zaghari, Ratcliffe, Andy Murray’s, Murray, Zaghari, Roger Federer, Ryan Peniston, Karwai Tang, Pierce Brosnan, Anna Wintour, Russell Wilson, Sam Mendes, Eddie Redmayne, Sienna Miller, Jude Law, Ian McKellen, Maggie Smith, Michael McIntyre, Duke, Duchess of Kent, Prince Michael of Kent, Queen Elizabeth II, Geordie Greig —, —, George Osborne, John Witherow, they’re, Guardiola, Williamson, Andrej Isakovic, Mark Philippoussis, Roger Federer’s, Conchita Martinez, Leah Williamson, Denise Lewis, Ben Stokes, Beckham, Gareth Southgate, Jordan Henderson, Geoff Hurst, Bobby Charlton, Luke Donald, Rory McIlroy, Ernie Els, Sergio Garcia, David Haye, Chris Hoy, Kelly Holmes, Nicola Adams, Jessica Ennis, Hill, you’ve, Aaron Chown, Tom Cruise ”, Lewis Hamilton, Novak Djokovic, ” sniffed, –, ” Alan Chalmers, didn’t, ”, Pippa Middleton, Ilie Nastase, Serena Williams’s, hasn’t, Boris Becker, Eamonn Dalton Organizations: National Health Service, Wimbledon, Court, Lawn Tennis, Green Sport, Conservatives, Foo Fighters, BBC Radio, Royals, Evening, The, England women’s, European, Getty, Manchester City, Augusta, British, The New York Times, Olympic, Management, Inter Miami CF ’, “ Wimbledon Locations: British, Iran, Ratcliffe, Wales, That’s, London, AFP, England, Marbella, it’s, Romanian

☆ Some transgender and nonbinary people may want to change their voices. Gender-affirming vocal coaches are there to help
▼ + stars: | 2024-07-06 | by ( Alexandra Willingham | ) edition.cnn.com time to read: +11 min

This is where gender-affirming vocal coaches come in. “At the same time, I was taking a voice disorders class, and there was just a single bullet point on there about gender-affirming voice work,” they told CNN. “But that was enough for me to look out on my own and seek further education.”There are different approaches to gender-affirming vocal work. “Transgender vocal training, as it’s sometimes called, sprung up from a marriage of speech pathologists, singing teachers, theater specialists and their techniques. Freya, who is a lesbian, says gender-affirming work is a skill she can offer to her wider LGBTQ community.

Persons: Kevin Dorman, Dorman, “, ”, it’s, ” Dorman, Kim Chandler, Alexis Vandom, ” Vandom, Vandom, ” Bryce Chambers, Chambers, Anna Freya, Freya, It’s, ” Freya, “ There’s, There’s, —, ‘ Organizations: CNN, Alabama Statehouse Locations: Greensboro , North Carolina, Alabama, Seattle

☆ What is Project 2025? The conservative road map is raising a lot of eyebrows, on both sides of the aisle.
▼ + stars: | 2024-07-06 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Project 2025 is a road map for the next Republican president. The Heritage Foundation, a prominent conservative think tank, authored the plan. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In January 2023, The Heritage Foundation began promoting Project 2025, a 922-page "playbook" assembled with input from dozens of other conservative organizations to guide the next Republican administration. This story is available exclusively to Business Insider subscribers.

Persons: —, Joe Biden, Donald Trump Organizations: Republican, Heritage Foundation, Education Department, Service, Business

☆ The expeditions documenting the Congo Basin
▼ + stars: | 2024-07-05 | by ( Leah Collins | ) edition.cnn.com time to read: +5 min

CNN —The Congo Basin in central Africa is one of the largest wilderness areas left on Earth, spanning 3.4 million square kilometers (1.3 million square miles). Steve Boyes, founder and project leader of The Wilderness Project, is gathering scientific information across the length of the Congo River. And that’s every single corner, typically, of these rivers.”Steve Boyes on a Great Spine of Africa expedition. This expedition is not Boyes’ first time exploring the Congo Basin. The expedition team camping at a fishing village.

Persons: Steve Boyes, ” Boyes, “, James Kydd Boyes, Boyes ’, Johann Vorster, eDNA, ”, Matt Dooley, there’s, Boyes Organizations: CNN, Initiative, Rolex, UNESCO, Geographic Locations: Congo, Africa, Nile, Chad, Niger, Angolan, Angola, Zambia

☆ 'One of the greatest ways to invest in Asia': Fund manager names 6 under-the-radar stocks to buy
▼ + stars: | 2024-07-05 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Portfolio manager Richard Kaye is bullish on the Japanese market and believes it offers an opportunity "a lot of people don't recognize." The stronger performance of Japanese equities follows the Tokyo Exchange Group's push for reforms last year. Stocks to play Kaye believes several sectors and stocks in Japan make good plays right now. Among the companies on his radar are Fanuc Corp and Keyence Corp which are in the business of automation products. In medical electronics and health care, Kaye is bullish on Shimadzu Corp and Sysmex Corp .

Persons: Richard Kaye, Kaye, CNBC's Organizations: Tokyo Exchange, Fanuc, Keyence, Shimadzu Corp, Sysmex Corp, Tokyo Disney Resort, Tokyo Stock Exchange, U.S Locations: Japan, Asia, China, Tokyo, U.S

☆ UK's Starmer appoints Reeves and Rayner to top ministerial team
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: +1 min

Britain's new Prime Minister Keir Starmer began appointing his ministerial team on Friday following a thumping election victory for his Labour Party, naming Rachel Reeves as the country's first female finance minister and Angela Rayner as deputy PM. Starmer appointed David Lammy as Britain's new foreign minister and as John Healey the defence minister, while Yvette Cooper becomes interior minister, known as home secretary, overseeing domestic security and policing. Starmer has pledged to help rebuild Britain and provide political stability after 14 years of Conservative government that has seen five prime ministers and an even higher turnover of other key ministers, including 10 education secretaries. The appointments of his most senior team were widely expected, with ministers being named to the policy briefs they held while serving in opposition. Rayner will also serve as secretary for levelling up, housing and communities.

Persons: Keir Starmer, Rachel Reeves, Angela Rayner, Starmer, David Lammy, John Healey, Yvette Cooper, Healey, Rayner Organizations: Labour Party, Lammy, Ukraine, Conservative Locations: Russia, Gaza, Britain

☆ While much of Europe embraces hard-right parties, the UK has swung wildly to the left. Here’s why
▼ + stars: | 2024-07-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Francois Lo Presti | Afp | Getty ImagesLONDON — A somewhat strange and ironic political shift has gripped Europe over the last few years. "There's an anti-incumbency mood again in Europe," Dan Stevens, professor of politics at Exeter University, told CNBC. Shared concernsThe U.K. is not alone in looking for a political change of scenery. A similar shift has been observed in much of western and eastern Europe in recent years, with hard-right populist and nationalist parties upsetting and unseating the old political establishment. Political analysts point out that, although far-right political parties in France, Germany and Italy made gains in the recent European Parliament elections, they also did not perform quite as well as expected.

Persons: Jordan Bardella, Francois Lo Presti, Dan Stevens, Stevens, Christopher Granville, leaderships, they've, Granville, Sofia Vasilopoulou Organizations: Union, Afp, Getty, Labour Party, Conservative Party, Europe —, Exeter University, CNBC, Conservative, Party for Freedom, EMEA, TS Lombard, King's College London Locations: France, Henin, Beaumont, Europe, euroskeptic, Ukraine, Italy, Netherlands, Germany

☆ I've applied for 493 jobs since I got laid off a year ago. Getting a remote job has become so hard.
▼ + stars: | 2024-07-05 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Trevon Gripper, a 32-year-old job seeker in Texas. There's been a huge change from when I started applying a year ago, when I was like, "remote, remote, remote." Trevon Gripper in a Microsoft video interview in March 2024. Courtesy of Trevon GripperGetting a remote job has become so hardI started a spreadsheet to track my applications and stay organized. Trevon Gripper promoting training content at the company he worked for in March 2023.

Persons: —, Trevon Gripper, I've, It's, There's, Trevon, it's, Upskilling, what's, I'm Organizations: Service, Business, Microsoft, LinkedIn Locations: Texas, Houston, Seattle, Atlanta, Gripper

☆ Keir Starmer must fix Britain’s economic mess after UK election win
▼ + stars: | 2024-07-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —British voters have handed the Labour Party its first election victory in almost two decades, hoping that a new center-left government will revive Britain’s ailing economy and fix collapsing public services. The win is a triumph for Keir Starmer, a former chief prosecutor who only entered parliament in 2015 and will become prime minister later Friday. “It feels good, I have to be honest.”But Labour’s jubilation may soon give way to trepidation given the economic challenges ahead. Making these problems even harder to solve: stubbornly low economic growth. To some extent, the government is likely hoping economic growth will be stronger than forecast and help with both goals.

Persons: Conservative Party —, Keir Starmer, ”, ” Gregory Thwaites, ” ‘, “, Paul Johnson, —, Dominic Lipinski, Johnson, Louise Hellem, Rachel Reeves, Stefan Rousseau, ” Brexit Organizations: London CNN — British, Labour Party, Conservative Party, National Health Service, Universal Credit, CNN, Labour, for Fiscal Studies, Bloomberg, Getty, Wealth Fund, Great, Great British Energy, “, Confederation of Business Industry, Conservative, Shadow, AP, European Union, Trade Locations: England, Scotland, Wales, Selby, UK, Great British, Britain, Southampton, United States

☆ Tesla just opened up a big new customer base in China after slashing prices in April to meet a key threshold
▼ + stars: | 2024-07-05 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

A local Chinese government just approved Tesla's Model Y approved for use. This is the first time Tesla's cars are eligible for government purchases in China. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla's Model Y cars just made it on the list of approved vehicles of one local government in China, unlocking a new customer base for the electric vehicle giant.

Persons: Tesla, — Organizations: Service, Business Locations: China, Jiangsu, Shanghai

☆ This soccer star who came from nothing has been funding universal basic income in his hometown for years
▼ + stars: | 2024-07-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewYouTube star Jimmy "MrBeast" Donaldson recently donated $200,000 toward a universal basic income program in the Ugandan village of Karamoja. A top soccer player who grew up desperately poor has funded a similar initiative in his African hometown for years. This story is available exclusively to Business Insider subscribers. In addition, I give 70 euros per month to all people in a very poor region of Senegal which contributes to their family economy. AdvertisementAl Nassr didn't immediately respond to a request for comment from Business Insider.

Persons: —, Jimmy, MrBeast, Donaldson, Sadio Mané, Al Nassr, Mané, Sadio, Visionhaus, Elon Musk, Sam Altman, Ferraris, He's, Al Nassr didn't Organizations: Service, Liverpool, Bayern Munich, Business, Saudi, Africa, Afrique, barefooted Locations: Ugandan, Karamoja, Saudi, Senegal, Bambali

☆ Here's where the jobs are for June — in one chart
▼ + stars: | 2024-07-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Health care and social assistance added 82,400 jobs, while government increased by 70,000 positions. The breakdown of the June jobs report suggests that growth has become increasingly uneven as the labor market shows signs of softening. Health care and social assistance have been a key component of the labor market recovery since the pandemic. Meanwhile, education accounted for 17,200 of the jobs added in the government sector. Both state and local governments added jobs outside of education, as well.

Persons: nonfarm payrolls, Jeffrey Roach, payrolls, Roach Organizations: Labor Department, LPL

☆ Stocks making the biggest moves midday: Macy's, MicroStrategy, Coinbase, Nvidia and more
▼ + stars: | 2024-07-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street . New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. SoftBank Group , Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore's $6.9 billion acquisition of Teck's metallurgical coal business.

Persons: Macy's, Stocks, Energy, CleanSpark, Masayoshi, SoftBank, Nio, Zeekr, Li, Emmanuel Papadakis, Teck, Alex Harring, Jesse Pound Organizations: Nvidia, New, Research, Street Journal, Arkhouse Management, Brigade Capital Management, Marathon, SoftBank, Arm Holdings —, Reuters, Francisco Partners, KKR, —, European Union, Li Auto, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Bloomberg, Getty Locations: SoftBank, Europe, Novo, Teck

☆ Universal basic income has gone from utopian vision to economic reality. Here's what you need to know about UBI.
▼ + stars: | 2024-07-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

Read previewUniversal basic income has made giant strides from its origins as a utopian vision toward becoming economic reality. Basic income trials have been conducted in countries as varied as Kenya, Finland, India, and Canada. Proponents of UBI say it reduces poverty, strengthens the social safety net, promotes health and happiness, and combats the stigma around welfare. Basic income recipients in a Finnish trial reported higher life satisfaction, improved health, and lower levels of depression and loneliness. An open questionUniversal basic income remains a largely theoretical idea that could have significant — and unpredictable — impacts on wealth inequality, human welfare, labor markets, and entire economies.

Persons: —, Tesla's Elon Musk, Robert Reich, Juan Luis Vives, they'd, Thomas Paine, Martin Luther King Jr, Milton Friedman, Sen, Bernie Sanders of, technocrat Andrew Yang, Sam Altman, Bernie Sanders, Kevin Dietsch, Dave Ramsey, Karl Marx playbook, that's, Jack Kellam, MrBeast, Jeff Cheatham, Douglas MacKay, Chapel Hill, Karl Widerquist, Kellam, stigmas Organizations: Service, Labor, Business, Autonomy, UNC, Chapel, Georgetown University, Qatar Locations: Kenya, Finland, India, Canada, Spanish, Bernie Sanders of Vermont, Uganda

☆ CNBC's Inside India newsletter: An education scandal years in the making
▼ + stars: | 2024-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Yet, the system has also exacerbated the social divide between the haves and have-nots, who are confined to the largely abysmal state-run education system. That means entrance tests and examinations are a high-stakes juncture in a person's life. A half-hearted attempt at testing the country's education system in 2021 was aborted when the Covid-19 pandemic hit the country. The company, which offers services ranging from online tutorials to offline coaching, attracted billions of dollars from investors worldwide during the pandemic when online education services were in high demand. One of the companies it bought was an offline test preparation service called Aakash Education Services, which is still expected to IPO this year.

Persons: Firdous Nazir, NurPhoto, Cram, —, Byju's Organizations: Youth Congress, Getty, Testing Agency, Reuters, FIFA, Aakash Education Services Locations: Jammu, Kashmir, India, Kota, Rajasthan, PISA, Kyrgyzstan, Turkish

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