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☆ Impact of 'funflation' to continue beyond Taylor Swift and Beyoncé, says Bank of America
▼ + stars: | 2023-10-03 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Bank of America predicts people will continue to spend big on live entertainment. AdvertisementAdvertisementMaybe the epic summer of Taylor Swift, Beyoncé, and "Barbenheimer" was just the beginning and not just a one-off outlier. On the surface, this contradicts some earlier warnings that while entertainment spending did prop up the economy, it would be fleeting. Bank of America did warn in its report that there is some risk in betting on "funflation" to continue. But if Bank of America's predictions are correct, the economy may feel the effects of entertainment spending despite the diminished sparkle of the performers.

Persons: Taylor Swift, —, Beyoncé, Kevin Mazur, Grace Smith, Swift Organizations: of America, Service, Bank of America, Force, Bloomberg, MediaNews, Denver, Getty, Bloomberg Economics Locations: Stockholm, Denver, Swift

☆ One couple packed up an RV and drove 1,300 miles to give birth in Virginia to escape the high Black maternal mortality rate in Texas
▼ + stars: | 2023-10-01 | by ( Brianna Holt | ) www.businessinsider.com time to read: +8 min

Two Black women crossed state lines to give birth since they lived in places with low healthcare ratings. AdvertisementAdvertisementFor Black women, both nationally and in Texas, those rates are disproportionately higher. To avoid becoming another statistic, more and more Black women are opting for home births, doulas, midwives, and birth assistants. Due to the high maternal mortality rate in the US, some Black women are turning to midwives. Perritt warned that crossing state lines, even for those who can afford it, will not address the Black maternal mortality crisis.

Persons: Mimi Evans, Evans, Sarah Reingewirtz, Jamila, Perritt, Erin Monk, Monk, she's Organizations: MediaNews, Los Angeles Daily, Getty, OB, Physicians, Reproductive, VCU Medical Center, SDI, University of Maryland Medical Center, University Hospital Locations: States, Houston, Texas, Richmond , Virginia, Chesterfield, Richmond, In Texas, United States, Virginia, Charlotte , North Carolina, Baltimore , Maryland, Carolina, Maryland, Charlotte

☆ Tourists are still not returning to China and that's not good for anybody
▼ + stars: | 2023-09-26 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

International tourism to China is still well below pre-pandemic levels. Tourism is one of several economic woes in China that could spill over into the global economy. Now add another problem — China's tourism industry is struggling to recover from the pandemic. AdvertisementAdvertisementThe China Tourism Association noted in May that "the number of visitors from Europe, America, Japan and Korea are all dropping, substantially," The Japan Times reported. China's problems could spill over into the global economyTrouble for China's economy could mean more bad news for the rest of the world.

Persons: —, Fan Lei, Taylor, Grace Smith, Janet Yellen, Joe Biden, Tourism hasn't, They're Organizations: Tourism, Service, Street Journal, China Tourism Association, Japan Times, Tourists, Forbidden, US State Department, CNN, China Morning, MediaNews, Denver Locations: China, Ukraine, Europe, America, Japan, Korea, Forbidden City, Denver

☆ Gas prices look like they'll get better — but not before getting worse first
▼ + stars: | 2023-09-24 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

But there are signs that both supply and demand will bring prices back down in the coming months. AAA reported this week that the average price for a gallon of gas in the US was $3.88. AdvertisementAdvertisementAn atypical spike in pricesThe increase in gas prices is unusual, as we typically see some relief after the summer surge as demand wanes. If true, the worries about the impact of rising gas prices on consumer spending and inflation are overblown. AdvertisementAdvertisementIn recent years, with oil prices closer to $70 a barrel, gas prices have typically been close to $3 a gallon.

Persons: Mohamed el, Saudi Arabia's, Mohamed Oun, there's, Jorge León, Mike Wirth, we've, hasn't, Wirth, Grace Smith, David Kelly, We're, Kelly, Citi's, Ed Morse Organizations: Service, AAA, Allianz, Saudi, Reuters, Rystad Energy, US Strategic Petroleum Reserve, Biden, Strategic Petroleum Reserve Energy Department, Strategic Petroleum Reserve, Chevron, Bloomberg, Denver, MediaNews, Getty, Morgan Asset Management, Citigroup, CNN Locations: Russia, Saudi Arabia, Wall, Silicon, California, Clearwater Beach, Tampa , Florida, Libya, Ukraine, Brazil, Canada, Venezuela, Guyana

☆ Taylor Swift helped lift the US economy this summer with her Eras Tour — she can't get back to the states soon enough
▼ + stars: | 2023-09-17 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

After five months and 53 shows, the economic impact of Swift's "The Eras Tour" was monumental and non-stop. Consider the following:"Taylor Swift's 'Eras' tour is rewriting the playbook of entertainment economics," Chris Leyden, director of growth marketing at SeatGeek told CNN. "It's no surprise that people are flocking to this Eras Tour experience in what is increasingly an otherwise digital environment we live in." AdvertisementAdvertisementOne Swiftie who spoke with Insider called their "Eras Tour" trip "a little bit concert, a little bit vacation." — Taylor Swift, who is releasing a film version of "The Eras Tour."

Persons: Taylor Swift, Swift, Taylor, Chris Leyden, SeatGeek, She's, —, Omar Vega, Alice Enders, Grace Smith, Andrew Heilmann, Robert Douglas, Cork, Oppenheimer, Klaus Vedfelt Piper, Nancy Lazar, Lazar, Barbie, — Taylor Swift, Charlie Harding Organizations: Service, CNN, Bloomberg News, Enders Analysis, World Trade Organization, MediaNews, Denver, Getty, Moody's, Cork Gaines, Bloomberg, Global, Fox News Digital, WGA Locations: Wall, Silicon, Arlington , Texas, LA, —, Hollywood

☆ What to expect when Google faces the DOJ in the first major tech monopoly trial in decades
▼ + stars: | 2023-09-11 | by ( Lauren Feiner | ) www.cnbc.com time to read: +13 min

While the trial marks the tech sector's first major anti-monopoly proceeding in decades, Google is squarely in the middle of its antitrust battles. What the trial is aboutA key focus of the trial will be on two kinds of agreements Google has made with other companies. "The cases have very compatible theories, and the core message from both is that Google's monopoly power has been abused, harming competition and hurting consumers," Weiser said. Walker wrote that the abundance of places where consumers can use online search shows that Google hasn't foreclosed competition. In addition to experts like economists, expect to see Google executives called to the stand, potentially including CEO Sundar Pichai.

Persons: Sundar Pichai, Jonathan Kanter, It's, it's, Google's, Microsoft's Bing, Phil Weiser, Weiser, Elijah McClain, Aaron Ontiveroz, Bing, Global Affairs Kent Walker, Walker, Rebecca Haw Allensworth, Bill Kovacic, Tim Cook, Joe Biden, Anna Moneymaker, Allensworth, conscientiously, What's, Google's Walker, Lee Hepner, Matt Schruers, Bard, OpenAI, Schruers Organizations: US Department of Justice, Getty, Department of Justice, Microsoft, DOJ, Google, of, Apple, Microsoft's, CNBC, Aurora, MediaNews, Denver, Global Affairs, Insider Intelligence, Amazon, Vanderbilt Law School, George Washington University Law School, FTC, White House, Mozilla, American Economic Liberties, Computer & Communications Industry Association Locations: U.S, Europe, Eastern, of Virginia, Colorado, Washington , DC

☆ The US has pumped so much groundwater that it's literally splitting the ground open across the American Southwest
▼ + stars: | 2023-09-11 | by ( Maiya Focht | Sebastian Cahill | ) www.businessinsider.com time to read: +6 min

The United States has been pumping so much groundwater it's splitting the ground open. Brian Conway/AZGSBut humans are pumping groundwater faster than Earth can naturally replenish it. A giant fissure in the Mojave Desert in California from groundwater pumping near Lucerne Lake. And four out of every 10 sites hit "all-time lows" in the past decade as American groundwater pumping outpaces water replenishment, per the Times. As a result, the severity of excessive groundwater pumping nationwide is not as easy to recognize and may help explain why regulation on pumping is so limited.

Persons: Brian Conway, Joseph Cook, Cook, Brian Gootee, Joesph Cook, it's, Warigia Bowman, RJ Sangosti Organizations: Service, Arizona Geological Survey, New York Times, Times, University of Tulsa, Queens, MediaNews, Denver, Getty, National Audubon Society Locations: States, Wall, Silicon, Arizona , Utah, California, Arizona, Lucerne Lake, Sulphur Hills, AZGS Arizona, Basin , Arizona, Colorado, Eads , Colorado, Picacho Basin

☆ Disney's wildest ride: Iger, Chapek and the making of an epic succession mess
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +88 min

Iger told Chapek that he lived for those "two-shower days," according to people familiar with the conversation. In January 2020, Iger told Chapek the plan was back on. During his 27 years at the company, Chapek had only attended one annual meeting — as a guest in the audience. Bob Iger, Disney CEO, during a CNBC interview, Feb. 9, 2023. WATCH: Disney CEO Bob Iger's exclusive July 2023 CNBC interviewTake the 'A'During Chapek's tenure as CEO, Disney lost more than a quarter of its market value.

Persons: Elham, Bob Iger, Bob Chapek, Iger, wasn't, Chapek, Michael Eisner, —, who's, he's, Clint Eastwood, Eastwood, Arthur Bochner, Jackie Hart, Kareem Daniel, Chapek —, Eisner, Michael Ovitz, Ovitz, Bob, Disney's, Kevin Mayer, Mayer, Bryan van der Beek, he'd, Tom Staggs, Staggs, Staggs —, Steve Jobs, cajoled Ike Perlmutter, George Lucas, Rupert Murdoch, Iger's, Susan Arnold, Arnold, Peter Rice, David Paul Morris, Rice, CNBC's Julia Boorstin, Mark Parker, Mary Barra, Michael Froman, Willow, Parker, John Donahoe, Roy Disney, Walt Disney, Stanley Gold, David A, CNBC Eisner, Big Bob, Little Bob, Christine McCarthy, Patrick T, He'd, McCarthy, Iger —, Coronavirus, Gavin Newsom, Michael Kovac, curtly, Nancy Pelosi, Chuck Schumer, Ben Smith, Smith, Disney, Randy Shropshire, Agnes Chu, Ricky Strauss, Chu, Strauss, Kevin Feige, Kathleen Kennedy, Who's, Alan Bergman, Bergman, Bob Kyncl, Daniel —, Iger didn't, Daniel rankled, Daniel, Chapek didn't, James Pitaro, Jesse Grant, CNBC Chapek, Jimmy Pitaro, Zenia Mucha, didn't, Mucha, Barbara Walters, Charles Eshelman, Scarlett Johansson, Scarlett Johansson —, Florence Pugh, Natasha, Yelena, " Johansson, Bryan Lourd, Johansson, Lourd, Steven Spielberg, Al Michaels, David Muir, Robin Roberts, Michael Strahan, Spielberg, Geoff Morrell, Alan Braverman, Alan Horn, Jayne Parker, Bochner, Claire Lee, Paul Richardson, Josh D'Amaro, Ron DeSantis, Morrell, Disney Animation —, George Floyd, Reba Saldanha, Reuters Chapek, DeSantis, Nicholas Maldonado, Octavio Jones, Chapek she'd, we're, " Morrell, CNN's Chris Wallace, Kristina Schake, John Skipper, Daniel steamrolled, Latondra Newton, Newton, Charles Krupa, Pitaro, NBCUniversal's Peacock, Dana Walden, Thomas Murphy, Josh Kushner, Privately, Schake, Barack Obama, Michelle Obama, Michelle Obama's, David Dee Delgado, Kara Swisher, hadn't, Netflix's, overhiring, McCarthy hadn't, Safra Catz, Kareem, DMED, Horacio Gutierrez, Justin Warbrooke, Alexia Quadrani, Bryan Castellani, Michael Buckner, Quadrani, Lindsay Lohan, Winnie, Nelson Peltz, Catz, Donald Trump's, they'd, Walden, Gutierrez, D'Amaro, Rich Polk, Walden he'd, Iger she'd, Mickey Mouse, Mark Rightmire, haven't, Indiana Jones, Halle Bailey, Ariel, Hamilton Faber, Rich Greenfield, Bob Iger's, — Mayer, McCarthy —, doesn't, they'll Organizations: Disney, Marvel, CNBC, Bloomberg, Getty, Walt Disney, Indiana University, Michigan State University, Shanghai Disney, Man, Hong Kong Disneyland, Walt Disney Parks, Resorts, Pixar, Fox, Chapek, Nike, General, Mastercard, Foreign Relations, University of Pennsylvania, Grogan, Disney's, Fallon, ABC, ESPN, ABC News, California Gov, New York Times, Disney confidants, Hollywood, Marvel Studios, Lucasfilm, Walt Disney Television, Walt Disney Studios, Hulu, HBO Max, Walt Disney Company, YouTube, Companies, Netflix, Apple, Disney Media, Entertainment, Stanford, Rights, Junior, petulant, Filmmagic, Brunswick Group, Covid, CAA, onetime Defense Department, Century Fox, Human, Florida Gov, Republican, Disney Animation, Reuters, Human Rights, HRC, Walt Disney World, Employees, American Foundation for Equal Rights, AP, Amazon Prime, Paramount, South Pacific, Capital Cities, Dow Jones, CVS, Kingdom, Variety, Trian Partners, Charter Communications, U.S, Comcast, Charter's, MediaNews, Orange, Allen, Co, Candle Media, Advisors Locations: Burbank , California, Midwestern, Brentwood, Los Angeles, Westlake Village, Iger, Hammond , Indiana, Shanghai, China, Hong, Fox, Willow Bay, Raleigh , North Carolina, Orlando, U.S, Hulu, Iger's Brentwood, coronavirus, Brunswick, Hollywood, Hawaii, Disney's, Marvel's, Anaheim , California, Montana, Florida, Rye , New Hampshire, Chapek, Hong Kong, California, missteps, South, DMED, Burbank, New York, India, Atlantic, Sun Valley , Idaho, America

Particle pollution is a “key ingredient” of wildfire smoke, Barrett told CNN. “Sometimes we can see, smell, and even taste the impacts of wildfire smoke,” Barrett said. Mountain ranges can shield some regions from worse air pollution by keeping smoke aloft when it travels, Mass said. Pittsburgh - June 29, 2023An MLB game between the San Diego Padres and Pittsburgh Pirates is delayed as Canadian wildfire smoke descends on downtown Pittsburgh. San Francisco - Sept. 9, 2020Smoke from northern California wildfires casts a reddish glow in San Francisco, California.

Persons: ”, William Barrett, Barrett, ” Barrett, Clifford, Talat Odman, Mass, “ It’s, “ You’re, Lev Radin, Scott Olson, Kevork, Joe Robbins, San Diego Padres, Andrew McCutchen, Carr, George Rose, Ray Chavez, David Zalubowski Organizations: CNN, American Lung Association, University of Washington, Georgia Institute of Technology, Washington DC, ” CNN, Pacific Press, York City, MLB, San Diego Padres, Pittsburgh Pirates, San Diego, Pirates, MediaNews, Mercury, Environmental Protection Agency Denver, Denver International Airport, Denver Locations: Canada, United States, Northern Europe, New York City, York City, Chicago, Irvine, Santiago, Irvine , California, California, Santa, Pittsburgh, Pennsylvania, Sacramento, Sacramento , California, Shasta County , California, San Francisco, San Francisco , California, San Francisco Bay

☆ The ADHD drug market is already stretched thin. Now it's facing a back-to-school supply strain
▼ + stars: | 2023-08-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

Ten milligram tablets of the hyperactivity drug, Adderall, made by Shire Plc. Adderall and alternative ADHD medications apart from other drugs are Schedule 2 controlled substances. Production limitationsEnding the shortages of Adderall and other ADHD medications is no easy task. That means increasing the production of one drug could potentially require reducing production — and potentially impacting supply — of another drug, according to Ergun. That includes Aytu BioPharma, which makes an ADHD drug that used to be in shortage.

Persons: Jb Reed, It's, Erin Fox, they've, David Margraf, Margraf, drugmakers, Ozlem Ergun, Ergun, Novartis's, Michael Ganio, ASHP's Ganio, RJ Sangosti, Josh Disbrow, Fox Organizations: Shire Plc, Jb, Bloomberg, Getty, and Drug Administration, CNBC, University of Utah, American Society of Health, System Pharmacists, Centers for Disease Control, University of Minnesota's, Infectious Disease, Northeastern University, Teva Pharmaceuticals, Amneal Pharmaceuticals, Sandoz, Purdue Pharma, Rhodes Pharmaceuticals, Drug, Fox, Pharmacists, Drug Enforcement Administration, MediaNews, Denver, FDA, DEA Locations: U.S, Commerce City , Colorado

☆ Pork belly prices are up 100% this year — your breakfast bacon is about to get pricier
▼ + stars: | 2023-08-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Wholesale pork belly prices are currently trading at 270.89 cents per pound. And consumers are about to see even higher prices of bacon, which is primarily cut from pork bellies. Analysts who spoke to CNBC attributed the surge in pork prices partly to a recently imposed animal welfare regulation in California, which came into effect July 1. Proposition 12 played a "major role" in the surge in prices, said Urner Barry pork market analyst, Ryan Hojnowski. Consequently, sellers of bacon will want to keep their profit margins up — thus, the spike in pork belly wholesale prices is going to translate to higher retail and food services prices, he said.

Persons: Bacon, Zachary Zirlin, —, That's, Brian Earnest, Cobank's Earnest, Earnest, Barry, Ryan Hojnowski, Hojnowski, Urner Barry, Glenn Asakawa Organizations: Eyeem, Getty, CNBC, National Pork Producers Council, Medianews, Denver Locations: California, FactSet, Colorado

☆ Here’s who is on strike in LA, and what it means for Angelenos
▼ + stars: | 2023-08-08 | by ( Ellie Stevens | ) edition.cnn.com time to read: +5 min

The strike is the first by LA city workers in more than 40 years. Members voted to authorize the strike only after “repeated labor law violations” by Los Angeles city management, according to the union. “City workers are vital to the function of services for millions of Angelenos every day and to our local economy. Los Angeles city workers hold a rally outside the city hall during a one-day walkout strike in protest over labor negotiations, in Los Angeles, California, U.S., August 8, 2023. Los Angeles city departments are bracing for the impact of today’s work stoppage and attempting to mitigate disruptions to city operations.

Persons: ” David Green, “, ”, we’re, Lauren Lesure, Sarah Reingewirtz, ’, that’s, ” Green, Los Angeles Mayor Karen Bass, Green, Bass, Mike Blake, ” Dae Levine, –, Sam Delouya, Nadia Bidarian Organizations: CNN, Hollywood, LAX, SEIU, InterContinental, Downtown, MediaNews, Los Angeles Daily News, United Auto Workers, Ford, General Motors, Teamsters, UPS, Los Angeles Mayor, Los, Los Angeles World Airports Locations: Los Angeles, Southern California, InterContinental Los, Angeles, Northern California, Jose, California, Los, “ City, Los Angeles , California, U.S, United States

☆ Private sector added 324,000 jobs in July, well above expectations, ADP says
▼ + stars: | 2023-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Sinking Spring, PA - April 19: The sign at the McDonald's restaurant on Penn Ave in Sinking Spring, PA April 19, 2021 with a message on a board below it that reads "Work Here $15 $15 $15". (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images)Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported Wednesday. Job gains for the month totaled 324,000, driven by a 201,000 jump in hotels, restaurants, bars and affiliated businesses. The ADP report serves as a precursor for Friday's more widely followed nonfarm payrolls count from the Labor Department's Bureau of Labor Statistics. Also of note from the ADP report was that the job gains were concentrated in firms with fewer than 50 employees, which were responsible for 237,000 positions.

Persons: Ben Hasty, Dow Jones, Nela Richardson, nonfarm Organizations: Penn, MediaNews, Getty Images, Dow, Reserve, Goods, Labor Department's Bureau of Labor Statistics, BLS, ADP Locations: PA

☆ Elon Musk plans to rebrand Twitter as 'X' — an idea that harkens back to the CEO's early days when he was ousted from PayPal
▼ + stars: | 2023-07-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Elon Musk announced Saturday that he plans to rebrand Twitter and change the bird logo to 'X.' Musk previously wanted X to be the name of a banking services site now known as PayPal. Musk said a new "interim" X logo will go live Sunday. Elon Musk in Palo Alto, California, on August 7, 2000. According to Ashlee Vance's biography "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future," almost everyone in the company preferred the name PayPal.

Persons: Elon Musk, Musk, Elon, Pauline Lubens, Julie Anderson Ankenbrandt, Ankenbrandt, x.com, X.com, Peter Thiel, Max Levchin, Musk's, Thiel, Ashlee Vance's Organizations: Twitter, PayPal, MediaNews, Mercury, Getty, Elon, SpaceX, X Corp Locations: Silicon Valley, Palo Alto , California, Palo Alto, Nevada

☆ How America fell out of love with ice cream
▼ + stars: | 2023-07-16 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +9 min

Ice cream is “the ultimate comfort food.”Drinkers swapped a pint for a scoop, and for ice cream makers, Prohibition was a boon. “In fact they say that the ice cream business is bound to increase in volume from year to year as more people are using ice cream since the coming in of nation-wide prohibition and the going out of the saloon.”The interest in ice cream continued in World War II, buoyed by the government’s use of the frozen dessert to help boost morale. Margaret Bourke-White/The LIFE Picture Collection/Shutterstock“We built pop-up ice cream factories on the front lines, delivered individual ice cream cartons to foxholes and spent more than a million dollars on a floating ice cream barge that patrolled the Pacific delivering ice cream,” Siegel said. Scoops of Falooda ice cream are placed on top Blueberry Lavender ice cream at Pints of Joy in Sunnyvale, California. Today, she teaches aspiring ice cream entrepreneurs how to make ice cream.

Persons: Earl Leaf, Michael Ochs, Baskin Robbins, —, Matt Siegel, ” Siegel, Yuengling, ”, Margaret Bourke, “, Siegel, John Robbins, Robbins, Burt Baskin, Robbins ’, ” Robbins, Robbins “, Deepak Chopra, Marianne Williamson, Lucas Fuess, Richard B, Levine, Levine Roberts, Fuess, John Crawford, “ There’s, Circana, Aric Crabb, Talenti, Earl Grey, ” Crawford, Bryan Olin Dozier, Deborah Lee Organizations: New, New York CNN, US Department of Agriculture, Michael Ochs Archives, Food, Anheuser, Busch, Manufacturers, Cream, Baskin, New York Times, Rabobank, MediaNews, East Bay Times Locations: New York, NY, American, USS Maryland, Chicago , Illinois, Circana, Joy, Sunnyvale , California, Van Leeuwen, North Carolina

☆ Key US inflation gauge cooled last month to the lowest level in nearly three years
▼ + stars: | 2023-07-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The PPI index, a key inflation gauge that tracks the average change in prices that businesses pay to suppliers, has cooled significantly since peaking at 11.2% in June 2022 and has now declined for 12 consecutive months. Annual producer price inflation is at its lowest level since August 2020, BLS data shows. “It’s definitely a good month for inflation,” Pelle told CNN. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. Doves tend to favor looser monetary policy and issues like low unemployment over low inflation, while hawks favor robust rate hikes and keeping inflation low above all else.

Persons: Price, Watchara, —, Alex Pelle, It’s, ” Pelle, “, That’s, Pelle, ” Organizations: Minneapolis CNN —, Bureau of Labor Statistics, La, MediaNews, The Press, Enterprise, Getty, BLS, PPI, Mizuho Securities, CNN, ”, CPI, Federal Reserve Locations: Minneapolis, La Reina, San Bernardino , California

☆ Powerball jackpot hits $725 million. If you win, here's the tax bill
▼ + stars: | 2023-07-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The Powerball jackpot has reached $725 million by July 11, 2023. If you choose the $366.2 million cash option, the 24% withholding automatically reduces your cut about $88 million. However, many taxpayers wrongly assume they're off the hook after that 24%, Chichester said. watch nowHere's why: Millions in lottery winnings will push you into the top federal income tax bracket. You calculate taxable income by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Persons: John Chichester Jr, Chichester Organizations: Medianews, Getty, Chichester Financial Group Locations: Phoenix

☆ Should public buses be free?
▼ + stars: | 2023-07-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

New York CNN —More major cities in the United States are letting public transit riders hop on board for free. Boston is piloting three zero-fare public bus routes, and New York City is expected to test free buses on five lines. Fares made up, on average, 12.5% of transit agencies’ operating expenses in 2021, down from 31.4% in 2019, according to the American Public Transit Association. “By offering free public transport, we are not really attracting car drivers in large volumes,” said Mohamed Mezghani, secretary general of the International Association of Public Transport. “There’s no such thing as free transit,” he added.

Persons: Michelle Wu, “, ”, Lane Turner, Stephanie Lotshaw, American Public Transit Association . Massachusetts Sen, Edward Markey, Ayanna Pressley, Wu, Matt Stone, Henry Bendon, ” Bendon, Fares, Pat Greenhouse, Mohamed Mezghani, Sarah Kaufman, There’s, Boston Mayor Wu, Olivier Douliery, Richard Jarrold, Jarrold Organizations: New, New York CNN, Boston, CNN, Boston Globe, American Public Transit Association . Massachusetts, US, MediaNews, Boston Herald, Getty, Richmond, Agency, American Public Transit Association, Kansas City, International Association of Public Transport, “, Rudin Center, Transportation, New York University, Boston Mayor, Getty Images Washington, Transportation Authority Locations: New York, United States, Kansas City, Raleigh, Richmond, Olympia, Tucson, Alexandria, Virginia, Denver, Boston, New York City, America, Tallinn, Estonia, Dunkirk, France, Luxembourg, Washington ,, AFP, Kansas

☆ With home improvement projects down, it’s Ikea’s moment
▼ + stars: | 2023-07-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

Over the next three years, it plans to open eight large stores and nine smaller “plan and order points,” where customers can chat with design consultants and order products. “We see endless opportunities to grow” in the US, Tolga Öncü, head of Ikea Retail for the Ingka Group, Ikea’s Dutch holding company, said in a statement at the time. After splurging on home improvement projects during the pandemic, consumers are pulling back. Home improvement retailer Lowe’s lowered its profit and sales outlook for the year in May, saying consumers were spending less on home improvement. Ikea, which is not publicly traded, reported that its retail sales rose by 6.5% in fiscal year 2022, but didn’t post quarterly results.

Persons: ”, Michael Brown, Spencer Platt, Tolga Öncü, Karl Zimmermann, “, Sucharita Kodali, Forrester, “ they’re, Zimmermann, Paul Bersebach, Marisa Ortega, splurging, Ethan Allen, ” Ortega, —, Anna Cooban, David Goldman, Nathaniel Meyersohn, Parija Kavilanz Organizations: New, New York CNN, Ikea, Ikea Retail, Ingka, Bain, MediaNews, Orange, Register Locations: New York, Aldi, Long Beach , California

MediaNews Group | The Riverside Press-Enterprise via Getty ImagesOf the many acts that can get an Amazon merchant kicked off the site, few are as devastating as selling stolen goods. But suspended sellers, who spent years building their businesses on Amazon, told CNBC they had no idea they were selling stolen products. In an email to CNBC, Amazon said it's working with authorities and doesn't comment "on matters that are the subject of active law enforcement investigations." Tracing the stolen goods supply chainIn tracing the supply chain for suspended sellers, some patterns started to emerge. "Chances are stolen goods or similar ASINs/serial numbers are being bled in to every supply line," the employee wrote.

Persons: Levoit humidifiers, Frank —, Frank, Kenzo Sobrie, Dyson, blenders, they'd, Joe Quinlivan, Sellers, they've, Chris McCabe, Ricky Sala, what's, Sala, he'd, Tien Ngo, Ngo, Stride, Daniel Acker, ASINs, Armen Babayan, illicitly, Babayan, KZ, Juniper, couldn't, Cameron Webb, Kevin Cole, didn't, He's, Sobrie Organizations: MediaNews, Riverside Press, Enterprise, Getty, Amazon, CNBC, Retailers, LG, KZ International, California, Patrol, KZ, CHP, Amazon.com Inc, Amazon Robotics, Bloomberg, Oregon Prep Center, Facebook, FBI, Washington State Office, Ngo Wholesale Distributors, Ngo, Co, Wholesale, Los, Juniper Holdings, Telegram Locations: Eastvale , California, KZ's, Huntington Beach , California, Westborough , Massachusetts, Los Angeles, Miami, The Miami, New York, Washington, Santa Fe Springs, Los Angeles County, Garden Grove, Orange County, California, Huntington Beach, California , Florida, New Jersey

☆ Why cities want to ban new drive-thrus
▼ + stars: | 2023-06-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Magnets of traffic and congestion, drive-thrus discourage walking, public transit use and visits to neighboring businesses. A host of cities and regions want the sprawl to stop: Atlanta lawmakers will vote this summer on whether to ban new drive-thrus in the popular Beltline area. Minneapolis; Fair Haven, New Jersey; Creve Coeur, Missouri; Orchard Park, New York, and other cities have banned new drive-thrus in recent years. Experts say pedestrian safety can be improved by tightly managing access along arterial roads and locating drive-thrus away from them. Cities push backAtlanta City Councilman Jason Dozier proposed a bill this year to block new drive-thrus around the Atlanta Beltline, a pedestrian trail along a 22-mile railroad corridor.

Persons: Creve, ”, David Dixon, Jack, Wendy’s, Sweetgreen, Taco Bell, Leonard Ortiz, Eric Dumbaugh, David Paul Morris, Dixon, Stantec, Jason Dozier, Dozier’s, “, ” Dozier, Marilyn Nieves, iStockphoto, Levi Thatcher, Charlotte, Keba Samuel Organizations: New, New York CNN, Starbucks, Smithsonian, Companies, MediaNews, Orange, Register, Florida Atlantic University, “, CNN, Bloomberg, Atlanta City, Atlanta, Atlanta Beltline, Sugar House, Sugar, Transportation, Charlotte Planning, Charlotte City Locations: New York, Atlanta, Minneapolis, Fair Haven , New Jersey, Creve Coeur , Missouri, Orchard, , New York, Southern California, Long, Pittsburgh, Mesa , Arizona, “, ”, California, Santa Ana , California, driveways, Atlanta’s, Salt Lake City, Charlotte, WCNC

☆ DeSantis breaks silence on migrant flights that landed on Newsom's turf, boasting that the program was 'very effective'
▼ + stars: | 2023-06-07 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

DeSantis on Wednesday defended a Florida program that relocates migrants to blue states. Until Wednesday, DeSantis hadn't commented publicly about the flights that landed in Sacramento, first on Friday and then again on Monday. "I think it's also been every effective," DeSantis said about the relocation program at the start of the roundtable. DeSantis also defended the use of a $12 million fund in Florida to pay for the relocation program. Under DeSantis, Florida sent more than 1,100 members of its national guard to Texas.

Persons: DeSantis, —, Ron DeSantis, DeSantis hadn't, Biden, Gavin Newsom, Joe Biden's, Trump, Scott Eisen, Ray Chavez, it's Organizations: Service, Gov, Florida Division, Emergency Management, US Customs, Border Patrol, Republican Gov, Democratic Gov, MediaNews, Mercury, Getty, GOP, Arizona, Biden, Republican Locations: Florida, Texas, California, Sierra Vista , Arizona, Sacramento, Cuba, Haiti, Nicaragua, Venezuela, Mexico, DeSantis, Vineyard , Massachusetts, DeSantis , Florida, Arizona

☆ Unbowed, Proud Boys are planning now for their biggest Pride Month disruptions ever, extremism watchdogs warn
▼ + stars: | 2023-05-20 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

But this year, the Proud Boys are redoubling their anti-LGBTQ+ efforts, and are laser focused on Pride month. "It's a dangerous thing, because the Proud Boys are all about violence, and so are the Patriot Front, she said. A banner shared to a Proud Boys Telegram channel by someone calling himself a member of the Middle Tennessee Proud Boys chapter. A banner posted on several Proud Boys Telegram channels by an individual identifying themselves as a member of the Proud Boys Michiana (Michigan/Indiana) chapter. The Proud Boys' planned propaganda promoting anti-LGBTQ+ "Proud Day" celebrations timed for Juneteenth, an annual commemoration of the end of slavery in the US.

☆ Walmart and Target employees reveal the most dangerous parts of working in retail, from towers of boxes to armed customers and inattentive drivers
▼ + stars: | 2023-05-12 | by ( Dominick Reuter | Ben Tobin | ) www.businessinsider.com time to read: +7 min

Front-line retail workers face a variety of workplace hazards both inside and outside their stores. "There are a lot of dangerous aspects to working retail," said a Walmart employee of eight years who works at a store in Minnesota. In a statement to Insider, Walmart said, "The safety of our customers, suppliers, and associates is a top priority. Insider spoke to a dozen current and former Walmart and Target employees nationwide to understand the dangers that retail workers face on the job. Three Walmart employees and a former Target executive team lead told Insider about incidents with customers wielding guns.

☆ A former fentanyl user describes the first time she took the illicit drug laced with xylazine as 'the scariest experience of my life'
▼ + stars: | 2023-04-21 | by ( Kelly Burch | ) www.businessinsider.com time to read: +9 min

Opioids contributed to 80,411 overdose deaths in 2021, up from 68,630 deaths in 2020, data from the National Institute on Drug Abuse shows. Xylazine is a sedative that can lead to respiratory and cardiac issuesOpioids, like fentanyl, contributed to more than 80,000 overdose deaths in 2021. Mixing xylazine with fentanyl is particularly problematicMixing xylazine and fentanyl can amplify xylazine's sedative effect and the associated health risks. ReutersThe opioid overdose reversal drug Narcan, also known as naloxone, will not reverse the impact of xylazine, since the drug is not an opioid, according to the DEA. That's because opioids account for nearly 75% of all drug overdose deaths in the US.

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