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☆ Burgum set to decide on massive pipeline project that’s pitting his rural constituents against GOP megadonors
▼ + stars: | 2024-07-03 | by ( Allison Gordon | Casey Tolan | ) edition.cnn.com time to read: +17 min

Hamm also donated $50 million toward Burgum’s effort to build a presidential library honoring Theodore Roosevelt in North Dakota. CNBC first reported on Burgum’s financial ties with Continental, and the Associated Press previously reported on the politics of the Summit pipeline debate. Gaylen Dewing and Marvin Abraham put up a sign opposing the Summit pipeline east of Bismarck, N.D. in August 2023. Supporters say it will be an economic driver for North Dakota and help reduce emissions across the Midwest. North Dakota landowner Kurt Swenson attends a court hearing related to the pipeline project.

Persons: Donald Trump, Doug Burgum, GOP megadonors, –, That’s, ” Troy Coons, “ It’s, Al Drago, Burgum, ingratiated, Biden, Trump, “, ”, Joe Biden’s, Bruce Rastetter, Harold Hamm, Evan Vucci, Hamm, Theodore Roosevelt, ” Burgum, Rob Lockwood, Gary Tharaldson, Tharaldson, Justin Lane, who’s, Scott Skokos, ” Lockwood, ” Virginia Canter, ” Canter, “ Burgum, Drew Wrigley, Doug Goehring, don’t, Forbes, Sen, Jeff Magrum, Gaylen Dewing, Marvin Abraham, Jack Dura, Derrick Braaten, “ You’ll, Kurt Swenson's, Joe Swenson, Mike Bauman, Bauman, ” Bauman, Terry Wanzek, Mike Haupt, ” Haupt, Kurt Swenson, Kurt Swenson Kurt Swenson, ” Swenson, “ You’re, Swenson, CNN’s Alayna Treene Organizations: CNN, North Dakota Gov, GOP, Bloomberg, Getty, North, of Environmental, Trump, Republican, Associated Press, AP . Pipeline, Carbon Solutions, Midwest Carbon Express, Summit Agricultural, Iowa GOP, Continental Resources, Securities, Exchange, Continental, AP Continental, Burgum, CNBC, Forbes, Washington Post, Dakota Resource Council, North Dakota Industrial Commission, Summit, Rastetter, AP, Conservatives, Sierra Club, Farm, North Dakota Monitor Locations: North Dakota, Laconia , New Hampshire, Lago, North Dakota’s, Burgum, Pittsburgh, Hamm, Roosevelt, spokespeople, Trump's New York City, Washington, Iowa, Tharaldson, Bismarck, Kurt Swenson's North Dakota, Mercer County

☆ Online-gambling giants conquer U.S. with tactics deemed too tough for Britain
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: +22 min

NYSEIn 2018, British regulators sanctioned the UK arm of online gambling giant Flutter after it failed to catch an astonishing anomaly. The United States is Flutter's largest and fastest-growing market in terms of revenue. Both online sports betting and online casinos have been legal and regulated far longer in Britain than in the United States. But in the United States, Flutter doesn't place such limits on the age group. Around a decade ago, British politicians became concerned about a rise in gambling-linked fraud and suicides involving online VIP customers.

Persons: Peter Jackson, America —, Amit Patel, Patel, Alex King, King, FanDuel, Chris Ratcliffe, haven't, hasn't, Jackson, weren't incentivized, Flutter's FanDuel, Entain, Rob Wood, BetMGM, Paul Tonko, Tonko, Entain's Wood, —, Joe K, Joe, Pavlo Gonchar, Rob Gronkowski, Jamie Foxx, Foxx, Gronkowski, Goldman Sachs, who'd, Betfair, Entain's, Felicia Grondin, Silquia Patel, Eduardo Munoz, Flutter's, Chris Jones, Josh Giaramita Organizations: MGM, New York Stock Exchange, NYSE, Flutter's U.S, Jacksonville Jaguars, Reuters, Fanduel Inc, Bloomberg, Getty, The New York Stock Exchange, NYSE BetMGM, MGM Resorts International, MGM Resorts, New York Democrat, U.S, Lightrocket, Supreme, American Gaming Association, New York, Gaming Commission Locations: America, Edinburgh, Britain, United States, Dublin, U.S, British, BetMGM, New Jersey, States, United Kingdom, Ireland, New York, East Rutherford , New Jersey, FanDuel

☆ Former Boeing inspector alleges ‘scrap’ parts ended up on assembly lines
▼ + stars: | 2024-07-03 | by ( Gregory Wallace | ) edition.cnn.com time to read: +9 min

A string of whistleblowers this year has raised allegations about Boeing factory lapses, including an official federal complaint from a current employee that Boeing hid potentially defective parts from Federal Aviation Administration inspectors, and that some of those parts likely ended up in planes. Most of the parts that were meant to be scrapped were often painted red to signify they were unsuitable for assembly lines, Meyers said. In a statement to CNN, Boeing did not dispute Meyers’ allegations. Meyers describes a pressure-packed environment at the Everett factory, where assembly teams competed with each other to find the parts they needed. Workers assemble Boeing Co. 787 Dreamliner airplanes at the Boeing Everett Factory in Everett, Washington.

Persons: CNN —, Merle Meyers, Meyers ’, Meyers, “, ” Meyers, ”, Max, Dave Calhoun, Sam Mohawk, Richard Cuevas, Aerosystems, Patrick T, Pete Muntean Organizations: CNN, Boeing, Everett, Federal Aviation Administration, Company, New York Times, FAA, Justice Department, Occupational Safety, Health Administration, Engineering, Workers, Boeing Co, Boeing Everett Factory, Fallon, Bloomberg Locations: Everett , Washington, Auburn , Washington

☆ China Dangled Rebates to Lure People to Spend. It’s Not Enough.
▼ + stars: | 2024-07-01 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

Four months ago, China’s leaders announced what seemed like a straightforward and proven plan to recharge the economy: Subsidize consumers who want to replace old cars and household appliances. Only 113,000 cars qualified for trade-in subsidies through June 25 — a blip in a country where monthly sales exceed two million cars. In 2009, the United States, Germany, France, Spain and Austria offered so-called cash for clunkers programs to revive car sales. They paid households to scrap gas guzzlers and replace them with newer cars with better fuel economy. China itself gave extensive tax cuts and subsidies for consumers to buy new cars and household appliances.

Persons: ”, Dai Yu Locations: Jingdezhen, Jiangxi Province, China, United States, Germany, France, Spain, Austria

☆ Tuscany will pay people up to $32,000 to move to its underpopulated mountain towns: Here's what to know
▼ + stars: | 2024-06-27 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

If you've ever dreamed of living under the Tuscan sun, you might be able to make it a reality. These grants will cover up to 50% of the costs associated with buying and fixing up a home in a town with less than 5,000 residents. Applicants must be either Italian citizens, EU citizens, or non-EU citizens holding a long-term residency lasting no less than 10 years. They will also need to commit to registering as residents in an Italian town and can't currently be residents in another mountain town. The application closes on July 27 at 1 p.m. local Tuscan time.

Persons: you've Organizations: EU Locations: Italian, Tuscany, Italy

☆ Opinion: ‘Kinds of Kindness’ has a cultish take on toxic work culture
▼ + stars: | 2024-06-26 | by ( Opinion Noah Berlatsky | ) edition.cnn.com time to read: +7 min

In his new film, “Kinds of Kindness,” though, Yorgos Lanthimos goes further. Jesse Plemons is Robert in Yorgos Lanthimos’ new film, “Kinds of Kindness." Workplace harassment is a pervasive problem in a huge range of professions, from farm work to domestic labor to Hollywood itself. Remote work saves companies money by reducing rent and relocation costs, and because workers who work from home are more satisfied with fewer pay raises. People in “Kinds of Kindness” are pushed to mistake domination for kindness.

Persons: Noah Berlatsky, Yorgos Lanthimos, Lanthimos, Noah Berlatsky Noah Berlatsky, Emma Stone, Jesse Plemons, Willem Dafoe, Margaret Qualley, Hong Chau, Joe Alwyn, Mamoudou Athie, Hunter Schafer, Robert, Plemons, Raymond, Dafoe, —, Chau, balk, Raymond’s largesse, don’t, Yorgos, Atsushi Nishijima, MeToo, Harvey Weinstein, Jamie Dimon, Raymond isn’t, Raymond kisses Robert, Emily, Stone, Omi, she’s, Donald Trump’s, Steve Wozniak, Musk, Steve Jobs, Trump, Roberts Organizations: CNN, Searchlight, Hollywood, JPMorgan, Elon, Apple Locations: Chicago, Hong, Hollywood

☆ More states expected to roll out Inflation Reduction Act energy-efficiency rebates this summer
▼ + stars: | 2024-06-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer's end. The rebate programs are part of the federal Inflation Reduction Act, the largest piece of climate legislation in U.S. history, which President Joe Biden signed in 2022. The law earmarked $8.8 billion for consumers via two Home Energy Rebates programs. Such projects might include installing air sealing, insulation, electric heat pumps and electric stoves, for example. When combined with a fledgling state program called EmPower+ — which offers up to $10,000 per low-income household — consumers can access up to $24,000 in total rebates for making energy-efficiency upgrades, according to Doreen Harris, president and CEO of the New York State Energy Research and Development Authority.

Persons: Joe Biden, Doreen Harris Organizations: Energy, Finance, SEC, FEMA, New York State Energy Research, Development Authority Locations: York, New York

☆ Throwing money at plunging birth rates won't solve the issue, demography experts say
▼ + stars: | 2024-06-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

A Lancet study forecasts that by 2100, over 97% of countries will have fertility rates below the population replacement level. AdvertisementThe Japanese government has also tried to boost fertility rates by offering up to a year of parental leave and even cash incentives. In South Korea, the least fertile country in the world, Seoul is offering people money to reverse their vasectomies or untie their tubes. However, according to Trent MacNamara, a Texas A&M professor whose work has focused on fertility rates, throwing money at the problem can only do so much. Harper said that instead of throwing money at the issue, the biggest chance for success is through promoting gender equity.

Persons: —, isn't, Trent MacNamara, MacNamara, Sarah Harper, Harper, Philip N, Cohen, it's Organizations: Service, Business, gerontology, Oxford Institute of Population Ageing, University of Maryland Locations: Tokyo, South Korea, Seoul, Texas

☆ Money can't buy happiness—it's actually the other way around: Happy people 'are more successful in life,' expert says
▼ + stars: | 2024-06-18 | by ( Renée Onque | ) www.cnbc.com time to read: +2 min

But research shows that money can't buy happiness; happy people just seem to be more successful. "Happy people make more money, have better relationships [and] are more successful in life, not vice versa," Muller says. Unless you're using money to buy experiences, get extra time or donate to others, it can't buy you happiness, social scientist and happiness expert, Arthur C. Brooks, teaches in his Harvard course about managing happiness. But being happier in life can lead to financial increases and success, Muller says. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Tami Muller, Muller, Arthur C, Brooks Organizations: Harvard, CNBC

☆ Forget Elon Musk’s record pay package from Tesla. More could be on the way.
▼ + stars: | 2024-06-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.

Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, “, ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, ”, Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, “, Tesla

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ Falling birth rates are freaking countries out and spawning dubious fixes like tax breaks, cheaper cars, and free surgery
▼ + stars: | 2024-06-13 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +7 min

Read previewAs fertility rates decline across much of the world, countries are exploring innovative strategies to encourage women to have more babies. Trent MacNamara, a Texas A&M professor whose work has focused on fertility rates, told BI that the impact of financial incentives on fertility rates was uncertain and might lead to only modest gains. Subsidized fertility treatments and vasectomy reversalsCohen said that other strategies to increase fertility rates included countries like Israel offering free or heavily subsidized in vitro fertilization. However, a 2020 essay by Tan said the Japanese example showed that reproductive technologies were not a panacea for low fertility rates. Japan has the world's highest percentage of babies born through IVF, yet it has one of the lowest fertility rates, she said.

Persons: —, Sarah Harper, Vladimir Putin, Viktor Orbán, ATTILA KISBENEDEK, Trent MacNamara, Poh Lin Tan, Philip N, Cohen, Antonio Marquez lanza, Tan, MacNamara Organizations: Service, Business, Bloomberg, Local, gerontology, Oxford Institute of Population Ageing, BBC, Associated Press, National University of Singapore, University of Maryland, American Economic Association, Getty Locations: Singapore, South Korea, Soviet, Russian, Hungarian, Hungary, Texas, Norway, Sweden, Israel, Japan, Korea

☆ How to invest in India, the world's fastest-growing major economy
▼ + stars: | 2024-06-13 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +10 min

India has been dubbed the "perfect" emerging market to invest in, but it can be tricky for those outside the country to gain access. India's stock market has been making headlines this year, and for good reason. "India remains one of the best-performing equity markets this year, underpinned by the world's fastest-growing major economy and a resilient macro backdrop," said James Thom, senior investment director Asian equities at Abrdn, in a note to clients. Some of the top ETFs in North America include the Columbia India Consumer ETF , the First Trust India NIFTY 50 Equal Weight ETF and the BMO MSCI India ESG Leaders Index ETF . In Europe, the list includes the iShares MSCI India UCITS ETF , which provides exposure to around 85% of the stock market, and the Xtrackers MSCI India Swap UCITS ETF Capitalisation 1C .

Persons: Krishnamurthy Subramanian, Narendra Modi's, Kevin T, Carter, Goldman Sachs, James Thom, aren't, GDRs, Arjun Jayaraman, there's, Jayaraman, Abrdn's Thom, Surendra Goyal, Thom, EMQQ Global's Carter, Modi's, it's, Jonathan Pines, — CNBC's Ganesh Rao, Tuul, Bruno Morandi Organizations: CNBC Pro, IMF, Bharatiya Janata Party, EMQQ, CNBC, Wealthmills Securities, Global, Causeway, Mutual, Columbia India Consumer ETF, First Trust India, BMO, India, Nasdaq, Investors, Nokia, Bank of America, Citi, Edge, Reliance Industries, U.S ., Bank of India, Network18, Bank, Getty Locations: India, China, North America, Europe, Singapore, U.S, Indian, Chhatrapati Shivaji Terminus, Mumbai

☆ OpenAI hires new CFO and product chief, announces Apple deal to integrate ChatGPT
▼ + stars: | 2024-06-10 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI on Monday hired two top executives and announced a partnership with Apple that includes a ChatGPT-Siri integration, the company announced in two blog posts. The company said Sarah Friar, previously CEO of Nextdoor and finance chief at Square, is joining as chief financial officer. OpenAI also hired Kevin Weil, an ex-president at Planet Labs , as its new chief product officer, according to the blog post. Weil's product team will be focused on "applying our research to products and services that benefit consumers, developers, and businesses," the company wrote. "Siri can also tap into ChatGPT's intelligence when helpful," OpenAI wrote.

Persons: OpenAI, Siri, Sarah Friar, Friar, Kevin Weil, Weill Organizations: Apple, Stanford Digital Economy, Planet Labs, Twitter, Facebook, Monday Locations: ChatGPT

☆ Washington is waking up to AI’s risks about three years too late
▼ + stars: | 2024-06-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

(Which is ironic, given that one of the priorities of the roadmap is making sure AI doesn’t, like, hijack the American electoral process.) All of that money was able flood in because the notoriously tech-challenged lawmakers in Washington have been largely asleep at the wheel. (European officials, meanwhile, formally adopted the world’s first standalone AI law this spring, a full five years after rules were proposed.) Until recently, AI was a largely academic subject rarely discussed outside of Silicon Valley. ”AI companies have strong financial incentives to avoid effective oversight,” they wrote in an open letter this week.

Persons: CNN Business ’, hasn’t, ”, OpenAI, Brian Fung Organizations: CNN Business, New York CNN, Federal Trade Commission, Justice Department, Big Tech, Antitrust, FTC, Microsoft, Google, Nvidia, Apple Locations: New York, United States, Washington, Silicon Valley

The talks between the tour and the Saudi Public Investment Fund, which backs LIV Golf, are "extremely active," the person said. A PGA Tour representative declined to comment. The deal will reportedly be structured similar to their deal with the Strategic Sports Group, a consortium of investors. "By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR," Monahan said at the time. After clear lines were drawn, players expressed frustration about the proposed deal, leading the tour to increase financial incentives for golfers.

Persons: LIV, Rory McIlroy, Tiger Woods, John Henry —, McIlroy, PIF, Jay Monahan, Yasir Al, Rumayyan, hasn't, " Monahan, Jimmy Dunne, Dunne, Phil Mickelson, —, Monahan Organizations: THE, Sawgrass, CNBC, Saudi Public Investment Fund, Fenway Sports, Saudi, Strategic Sports Group, The New York Times, Tour Enterprises, PGA, Fenway Sports Group Locations: Ponte Vedra Beach , Florida, Saudi, New York

OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.

Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington

☆ OpenAI insiders call for company to be more transparent about the ‘serious risks’ AI technology poises to society
▼ + stars: | 2024-06-04 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —A group of OpenAI insiders are demanding that artificial intelligence companies be far more transparent about AI’s “serious risks” — and that they protect employees who voice concerns about the technology they’re building. “AI companies have strong financial incentives to avoid effective oversight,” reads the open letter posted Tuesday signed by current and former employees at AI companies including OpenAI, the creator behind the viral ChatGPT tool. As the law currently stands, the AI employees said, they don’t believe AI companies will share critical information about the technology voluntarily. Their letter comes as companies move quickly to implement generative AI tools into their products, while government regulators, companies and consumers grapple with responsible use. Meanwhile, Apple is widely expected to announce a partnership with OpenAI at its annual Worldwide Developer Conference to bring generative AI to the iPhone.

Persons: ”, OpenAI, ” OpenAI, Daniel Ziegler, “, Tim Cook Organizations: CNN, Companies, Security, Apple, OpenAI, Conference, ” Apple Locations: OpenAI

☆ Current and former OpenAI employees warn of AI's 'serious risks' and lack of oversight
▼ + stars: | 2024-06-04 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

A group of current and former OpenAI employees published an open letter Tuesday describing concerns about the artificial intelligence industry's rapid advancement despite a lack of oversight and an absence of whistleblower protections for those who wish to speak up. "AI companies have strong financial incentives to avoid effective oversight, and we do not believe bespoke structures of corporate governance are sufficient to change this," the employees wrote. The letter also details the current and former employees' concerns about insufficient whistleblower protections for the AI industry, saying that without effective government oversight, employees are in a relatively unique position to hold companies accountable. "Ordinary whistleblower protections are insufficient because they focus on illegal activity, whereas many of the risks we are concerned about are not yet regulated." Four anonymous OpenAI employees and seven former ones, including Daniel Kokotajlo, Jacob Hilton, William Saunders, Carroll Wainwright and Daniel Ziegler, signed the letter.

Persons: OpenAI, they've, Daniel Kokotajlo, Jacob Hilton, William Saunders, Carroll Wainwright, Daniel Ziegler, Ramana Kumar, Neel Nanda, Geoffrey Hinton, Yoshua Bengio, Stuart Russell Organizations: Google, Microsoft, Meta, CNBC, Security Locations: Anthropic

☆ N.H.L.’s Move to Salt Lake City Is Latest Sports Downsizing
▼ + stars: | 2024-06-02 | by ( Ken Belson | ) www.nytimes.com time to read: +1 min

The team, which will be renamed, will begin play next season in the Delta Center in Salt Lake City, home of one of the Smiths’ other teams, the Utah Jazz of the National Basketball Association. Salt Lake City’s metropolitan area is less than half the size of Phoenix’s; Salt Lake City is the 29th-largest media market while Phoenix is the 11th largest. But the league’s decision was less about the size of Salt Lake City and more about its demographics. Like Phoenix, Salt Lake City is one of the country’s fastest-growing cities. But in Utah, a thriving tech industry has attracted an influx of young workers with disposable incomes.

Persons: Ryan Smith, Ashley Organizations: National Hockey League, Arizona Coyotes, Delta Center, Smiths, Utah Jazz, National Basketball Association, . Locations: Oklahoma City, Las Vegas, Winnipeg , Manitoba, Salt Lake City, Salt, City’s, Phoenix, . Utah, Utah

☆ Over a dozen GOP states seeking to block student-loan forgiveness through Biden's SAVE repayment plan may have been set back by a separate court ruling
▼ + stars: | 2024-05-29 | by ( Ayelet Sheffey | ) 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 previewLawsuits to block some of President Joe Biden's targeted student-debt relief efforts are simmering — and a court ruling might have signaled how one case will fare. "Plaintiffs have not alleged that any of their employees have stopped seeking PSLF forgiveness because of the adjustment," the court's decision said. In March, 11 GOP state attorneys general filed a lawsuit to block the SAVE income-driven repayment plan, which the Education Department implemented last summer to give borrowers more affordable monthly payments. Economic assumptions alone were not enough for the Sixth Circuit, nor, for that matter, for the Supreme Court," the Education Department wrote in its legal filing.

Persons: —, Joe Biden's, Circuit wasn't Organizations: Service, New Civil Liberties Alliance, Cato Institute and Mackinac Center for Public, Business, Public, Sixth, Circuit, Education Department, SAVE, Biden's Education Department, Sixth Circuit, Supreme Locations: PSLF

☆ Could your buy now, pay later loans affect your credit score? Here's what you need to know
▼ + stars: | 2024-05-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

But there's one place they're notable absent: your credit report. Earlier this year, Apple became the first major BNPL provider to start reporting all user account information to a credit reporting agency. Providers including AfterPay, Affirm and Klarna already report some loans to the credit bureaus and experts say more are likely to follow, paving the way for a consumer's BNPL history to factor into their credit history and ultimately their credit score. (One of the main aspects of a credit score comes down to your history of paying bills on time.) When BNPL credit reporting could sting

Persons: Klarna, Liz Pagel, BNPL, Wells, Tim Quinlan, Ethan Dornhelm, TransUnion's, Silvio Tavares, Tavares, Pagel Organizations: Apple, Adobe Analytics, CNBC, Finance Locations: TransUnion, Wells Fargo

☆ Employers Flee Rich Coastal Cities for South, Sunbelt, As Workers Move
▼ + stars: | 2024-05-02 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

US job creation is shifting from rich coastal cities to the Sunbelt and Midwest. The shift is in large part a result of skyrocketing housing costs in coastal cities. This is in part because these cities have a lower cost of living — driven by lower housing costs — as big coastal cities have become increasingly unaffordable. At the same time, major coastal cities like New York City, Los Angeles, and Seattle saw their hiring shares decline. The richest coastal cities are also suffering from negative perceptions about safety and public order, and those reputations likely also play a role in people leaving.

Persons: —, Benzow, EIG Organizations: Service, Economic, Group, Hilton, Employers, Seattle Locations: —, EIG, San Francisco , New York, Los Angeles, Seattle, Boston, Gainesville , Georgia, South Carolina, Midwest, Wenatchee , Washington, Lansing , Michigan, American, New York City

☆ India’s UPI: How e-payments have taken over, from sari shops to street food stalls
▼ + stars: | 2024-04-29 | by ( Amy Gunia | ) edition.cnn.com time to read: +6 min

“Digital payments are likely to enhance India’s growth by eliminating frictions, increasing efficiency, and reducing costs,” Eswar Prasad, an economics professor at Cornell University, told CNN. Covid-19 further boosted the adoption of digital transactions, as people tried to protect themselves from the virus. In 2023, the number of UPI transactions topped 100 billion. Azeez, a 34-year-old rickshaw driver in Old Delhi, told CNN that he’s too scared of losing money to use e-payments. Sania Farooqui/CNNConvenience aside, India’s digital public infrastructure has helped it achieve an 80% financial inclusion rate.

Persons: Brij Kishore, ”, Agarwal, tuk, India’s, Narendra Modi, Eswar Prasad, Old Delhi Sania Farooqui, Ramesh Kumar's, Sania Farooqui, Ramesh Kumar, he’s, Azeez, Prasad, Kapil Sharma, “ Organizations: Hong Kong / New Delhi CNN, ”, Unified, “, frictions, Cornell University, CNN, “ UPI, India, National Payments Corporation of India, UPI, Sarojini, Finance, Eiffel Locations: Hong Kong / New Delhi, Chandni, India’s Old Delhi, Delhi, India, Old Delhi, Sarojini, Covid

☆ It's already hard to get your Fisker fixed. Bankruptcy could make it impossible.
▼ + stars: | 2024-04-27 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +6 min

AdvertisementBusiness Insider spoke with seven Fisker Ocean owners who shared their anxieties about what will happen to their cars if Fisker is no more. AdvertisementSome Fisker owners said they are already struggling to get service and parts. Three Fisker ocean owners described instances where the vehicle was bricked for days after their 12-volt battery died. What Fisker's failure would mean for its competitorsIf Fisker files for bankruptcy, there are likely to be ripple effects for other EV startups, Fiorani said. "If Fiskers start falling off the side of the road in the next few months because there's no one to update them, that's going to put fear into a lot of electric vehicle owners — not just Fisker owners," Fiorani said.

Persons: —, Henrik Fisker teeters, Sam Fiorani, Kurt Mechling, Mechling, Fisker, Chris Salvo, Salvo, Henrik Fisker, Mario Anzuoni, Fiorani, Patrick Burrell, Tesla Organizations: Service, Business, AutoForecast Solutions, BI, Reuters, EV Locations: California

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