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☆ How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts
▼ + stars: | 2024-07-02 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

Craft had her wages deposited directly into a Yotta account and used the startup's debit card to pay for all her expenses. CNBC reached out to fintech customers whose lives have been upended by the Synapse debacle. Instead of spending years and millions of dollars trying to acquire or become banks, startups got quick access to essential services they needed to offer. They account for 60% of all new fintech account openings, according to data provider Curinos. The FDIC's exact language about whether fintech customers are eligible for coverage: "The short answer is: it depends."

Persons: Natasha Craft, Craft, fintech, Adam Moelis, Sankaet Pathak, Michele Alt, Scott Sanborn, Sanborn, LendingClub, she's, Rick Davies, Taylor Stitch, " Davies, He's, he's, Davies, hasn't Organizations: FedEx, CNBC, Federal Deposit Insurance Corp, Synapse, Indiana FedEx, Disney, Bank, Trust, JPMorgan Chase, Klaros, PayPal, Getty, Financial Technology Association, D.C, Block, Regulators, Federal Reserve, FDIC, Oakland, San, OCC Locations: Mishawaka , Indiana, Craft, Oakland , California, New York City, Santa Barbara , California, Maryland, Bristol , Connecticut, Seattle, Tennessee, Yotta, Boston, Washington, fintechs, Silicon, San Francisco

☆ Gen Zers in a survey said they need $200,000 a year to feel financially secure — more than any other generation
▼ + stars: | 2024-07-01 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Americans think they need a whole lot more money than they're making to feel comfortable, according to a new survey. The latest survey from Bankrate, which polled 2,407 US adults from May 16 to 20, looks at how much Americans think they need to make to feel financially secure. According to the survey, Gen Z respondents said a $200,000 annual salary would ensure their financial security. Millennials said they'd need $199,000, and for Gen Xers and baby boomers, their financial security targets were at $183,000 and $171,000, respectively. To be sure, it's not all bad for Gen Z. TransUnion's latest Consumer Pulse Study found that Gen Z is "the most stable of any generation" in this year's second quarter, with 45% of them reporting wage increases over the past three months.

Persons: Gen, Millennials, Gen Xers, Gen Zers, Sarah Foster, Z, Zers, Michele Raneri, it's, They're, Charlie Wise, that's, Zer Organizations: Service, Business, Survey, Consumer Finances, Washington Post, Bureau of Labor Statistics, BI, Millennials, TransUnion Locations: Bankrate

And they were everywhere, although, naturally, New York City was a magnet, as it has always been for L.G.B.T.Q.+ people looking for a place in which they can be themselves. New York City was where you lost your soul, and we wanted to be closer to the earth. I wore an eight-and-a-half-foot-tall Statue of Liberty costume to the Easter Parade in New York City, and Kirsten came along with me. By the time I turned 30, I’d been telling people I was older for years, because I’m not the type to bemoan the loss of my youth. Going to New York felt like this moment of emerging to a wider audience, and then I started to travel a lot.

Persons: André De Shields, Lady Bunny, Michael R, Jackson, Juliana Huxtable, Wong, J.D, Samson, Pat Oleszko, it’s, —, John Rechy, ”, Danez Smith, Trump, he’d, “, Jenna Lyons, Avram Finkelstein, Joe Mantello, …, Catherine Opie, you’re, Willie Norris, “ I’d, It’s, you’ve, ” — Mark Harris Read, De Shields, Justin French, Chuck Ashley, Anthony Cotsifas, William F, Robert O’Hara’s, Hermes, — Max Berlinger Jenna Lyons, Antonio Lopez, Jenna Lyons’s, Grace Jones ”, Juan Ramos, Antonio Lopez’s, Grace Jones, Tina Chow, Marisa Berenson, Pam Anderson, That’s, — Jason Chen Jayne County, Jayne County, Gus Stewart, Billy Idol, Wayne County, — M.B, Bill T, Jones, Arnie, Arnie Zane, Zane, Keith Haring, Lois Greenfield, Jack Mitchell, Peggy Jarrell Kaplan, Gertrude Stein, Alice B, we’d, Bill, Arnie ”, I’m, — Juan, Norris, Yael Malka, Tomas Abad, West, Black, I’d, — Colleen Hamilton B.D, New York’s Eugene, . Wong, David Henry Hwang’s, Richie, wasn’t, Wayne Barker, — John Wogan Edmund White, Edmund White, Horatio, Leonard Fink’s “, Barbara Confino, Leonard Fink, Joseph Rodriguez, Bleecker, You’d, Gosh, Michael Snyder Pat Oleszko, Chichi, Kirsten, who’d, she’d, — C.H, Brian Michael Smith, Gay, Smith, Kiki Ball, Josue Infante, Skyler Cruz, Jamison, — J.A.R, Agnes Denes’s “, Don Yowell, Finkelstein, Agnes Denes, Leslie Tonkonow, Don, Agnes Denes’s, JD Samson, Sia, Mark Hunter, Anthony Cotsifas I’d, Johanna Fateman, Tigre, Michael O’Neill, Obama, might’ve, — Kate Guadagnino Kristen Kish, Kish, Suzanne Kreiter, David Moir, Bravo, isn’t, — J.W, Stephen Spinella, Mantello, Joan Marcus, Photofest, Tony Kushner’s, Louis Ironson, Milton Glaser, he’s, David, Marshall Grant, Joe Pitt, Walter, Awards, Stephen, ” —, Freedia, Devon Hurst, Sissy Nobby, Barack Obama’s, Lyle Ashton Harris, Big, Bounce, ” — M.B, Thom Browne, Browne, Los Angeles’s Chateau Marmont, Malcolm Venville, Paul Fortune, Michèle Lamy —, — J.C, Catherine Opie’s “, Opie, Ian, Lehmann Maupin, Eileen Myles, Jenny Shimizu, I’ve, Nicole Acheampong Danez Smith, Juan Cordero, ” Womp, They’d, hookups, Who’s, We’ve, You’re, J.A.R, Linda Simpson, India, Little Louie Vega, who’s, — K.G, Alexander Chee, Alexander Chee’s, Marguerite Duras’s “, Jeongneung, King Jungjong, Eric McNatt, Chris Chee, — M.S, Sam Jay, Jay, Jonah, Kumail ”, hadn’t, K.G, Phillip Lim, Lim, Tourmaline, Sylvia Rivera, Luce Capco Lincoln, York’s, We’d, Marsha P, John Cameron Mitchell, Larry Kramer, Mitchell’s, Mitchell, Martha Swope, Billy Rose, Mark Tusk, ” Kramer’s, Larry, Ned Weeks, Ned, “ Hedwig, J.W, Joerg Lohse, Reena, there’s, Matt Bomer, Bomer, Simon Halls, Neal Caffrey, Tony Kushner, Terrence McNally —, — I’d, Hollywood, Wu Tsang, Neil Rasmus, Wildness, ’, Wildness ”, Roxane Gay, Mueller, Brandon Williams, Donna Gottschalk, Donna Gottschalk’s “, Duchess, Galerie Marcelle Alix, goddamn, Coco Romack Michael R, Aaron Kinney, Nova, “ I’m, Bob Damron’s, Sgt, Shirley, Waldorf, Harold’s, Jean ] Genet, Marcel, Proust Organizations: Pride, Stonewall, West, America’s, ACT UP, San, Playwrights Horizons, Odeon, New York’s TriBeCa, Electric, Getty, Police, Billy, New York Live Arts, Keith Haring Foundation, BAM Hamm, Liberation, Brooklyn Liberation, Brooklyn Museum, Fort, New York’s, New York’s Eugene O’Neill Theatre, Broadway, Equity, LGBT Community Center, Fulbright, Mudd, New, Bisexual, Transgender Community, Center, Transgender Community Center, “, Maxwell, Museum School, Farmers, Seattle, Boston Globe, Travel, New York Times, Rancho Mirage, Gay, Caesar’s, FEMA, Yale, York’s Webster Hall, Masters, Records, Pyramid, Work, ACT, Carpenters, Seymour, Edinburgh, Atlanta —, Ninja, Huntington, New York, Lesbian, Equal, Billy Rose Theatre Division, The New York Public Library, The New York Times, USA, Children’s Hospital of Los, MoMA, Whitney Biennial, University of Nebraska, Alamy, HarperCollins, of Engineering, Google, Division, Astor, Tilden Foundations, Pershing, University of Southern, Pershing Square Locations: New York, Berlin, “, America, San Francisco, Baltimore, New York’s, New York City, California, Atlanta, Europe, Wayne County, Dortmund, Germany, London, Amsterdam, Rotterdam, Rockland County, N.Y, ’, I’m, Brooklyn, West Dakota, Fort Greene, New, Leonard Fink’s “ Bars, Street, Rome, —, Aspen, Colo, Copenhagen, Danish, Peru, Los Angeles, Agnes Denes’s “ Wheatfield, Downtown Manhattan, North Moore, TriBeCa, Hoboken, N.J, Lower Manhattan, Manhattan, Boston, Williamsburg , Brooklyn, Vinnie’s, Bedford, Austin , Texas, Copley, Menton, Asian American, York, New Orleans, Houston, Los Angeles’s, L.A, Hong Kong, Seoul, Casa, Koreatown, Minneapolis, Grindr, East, India, Wigstock, Tompkins, Vershire, Chee, Iowa, Huntington Beach, Chelsea, Barneys, Madison, Miami, New York State, Washington, The, LA, Silver Lake, Missouri, Children’s Hospital of Los Angeles, Zurich, Central, American, Westlake, Los Angeles and New York, Lincoln, Alphabet City , New York, Lenox, United States, University of Southern California, Downtown Los Angeles

☆ Mom of 18-year-old with a doctorate shares her 4 non-negotiable parenting rules: 'How can they be the best versions of themselves?'
▼ + stars: | 2024-06-26 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Jimalita Tillman knew her daughter Dorothy Jean was gifted at a very young age. Home-schooled from age 7, Dorothy Jean took high school-level courses a year later and earned her first college diploma, an associate's degree, at age 10. She added a bachelor's degree at age 12 and an environmental science master's degree two years later, both online. Last year, at just 17 years old, Dorothy Jean earned a doctoral degree in integrated behavioral health from Arizona State University. Watching Dorothy Jean accomplish so much at a young age has been "humbling," her mother tells CNBC Make It.

Persons: Jimalita Tillman, Dorothy Jean, Dorothy, Tillman, they'll, Esther Wojcicki, Cindy Graham, Graham, HuffPost, Michele Borba, That's Organizations: Arizona State University, Leadership Institute, CNBC, Bills Locations: Chicago

☆ Opinion: How South Africa’s former president Jacob Zuma used Trump’s playbook – and lost
▼ + stars: | 2024-06-26 | by ( Opinion Sean Jacobs | ) edition.cnn.com time to read: +13 min

But the figure of former President Jacob Zuma and his new political party uMkhonto – or simply “MK” – provoked more reaction. Jerome Delay/APMoreover, according to Herman, pro-Zuma conspiracy theories and propaganda, some with Russian fingerprints, had been flooding South African social media in the lead-up to the election. And even as Zuma takes pages from Trump’s playbook, South Africans may be telling a different narrative. Facing pressure, Zuma resigned as South African president in 2018. Though some South Africans still admire the US’ capitalist spirit, I find that the South African friends who visit me in the US don’t always feel at ease anymore.

Persons: Sean Jacobs, Cape Town CNN —, Read, Nelson Mandela –, Jacob Zuma, uMkhonto, ”, –, Herman Wasserman, Herman, Zuma, Donald Trump’s, Jerome Delay, Trump’s, Mandela, Michele Spatari, Duduzile, Jacob Zuma's, MK’s, Zuma’s, “, jestingly liken Donald Trump, Jacob Zuma of, Putin, playbook, Nelson Mandela, Alexander Joe, Trump, “ I’ve, it’s Biden, won’t Organizations: CNN, New School, Cape Town CNN, African National Congress, Zulu, Stellenbosch University, Former South, ANC, Getty, Democratic Alliance, DA, South, Trump, Jacob Zuma of America, Durban, International Court of Justice, Global Locations: Africa, South Africa, Stellenbosch, Cape Town, America, Taiwan, Germany Riding, United States, Orlando, Soweto, Johannesburg, Trump’s playbook, South, Robben, Orange Farm, AFP, Cape, Durban, Russia, States, China, Israel, New York City

☆ Europe’s carbon market works better than the U.S. Inflation Reduction Act, Goldman analyst says
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope’s carbon market works better than the U.S. Inflation Reduction Act, Goldman analyst saysMichele della Vigna, head of natural resources research in EMEA at Goldman Sachs, discusses the outlook for Europe’s decarbonization efforts and says "affordable" natural gas will provide a major opportunity for the region.

Persons: Goldman, Michele della Vigna, Goldman Sachs Organizations: Goldman Locations: U.S

☆ Election Updates: A Democratic brawl in a Virginia race may put a House seat in play in November.
▼ + stars: | 2024-06-18 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +7 min

One of the field’s top fund-raisers, Krystle Kaul, faces charges of embellishing her résumé well beyond the usual flourishes of a political campaign. Ms. Filler-Corn was the first woman and first Jewish speaker of the Virginia State House. Mr. Helmer is a Rhodes scholar and an Army veteran who served in Afghanistan, Iraq, and as a member of the Virginia House. Then last week, an anonymous Democratic official, speaking through her lawyer, accused Mr. Helmer of groping her and later making sexually crude remarks. “That would be presumptuous.”Democratic voters in the district peppered by texts attacking Mr. Helmer could be forgiven if they do not know where to turn.

Persons: Dan Helmer, Eileen, Krystle Kaul, Suhas Subramanyam, Jennifer Wexton, Subramanyam, Helmer, Barbara Comstock, Donald J, Trump, Mr, “, Ms, Wexton, Helmer of groping, Kaul, Michele Davis Younger, ”, Will Reinert, Subramanyam’s, Aliscia Andrews, Alexander Isaac, Avram Fechter Organizations: Congressional, Democratic, Senate, Republican, Virginia State House, Army, Virginia State House Democrats, Washington Post, Loudoun County Democratic Party, National Organization for Women, ”, Republicans, Democrat, National Republican Congressional, ” Democratic, Virginia Democratic, Federal, Commission, PAC, United States Central Command, Department of Defense, Marine Corps, Loudoun County Democratic Locations: Washington, Israel, Virginia, Rhodes, Afghanistan, Iraq, Democratic, Loudoun County, Va

"Consumers need to understand that the cavalry isn't coming anytime soon, so the best thing you can do is take things into your own hands when it comes to lowering credit card interest rates," said Matt Schulz, chief credit analyst at LendingTree. But that hasn't deterred credit card issuers from offering generous terms on balance transfer cards, Rossman said. But right now, it's kind of a Goldilocks environment for credit card issuers." It's also an ideal time for consumers to take advantage of all the options credit card issuers are offering. A balance transfer credit card moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate.

Persons: Matt Schulz, Michele Raneri, APRs aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, CNBC, Finance, Treasury Department, Federal Reserve Bank of New Locations: U.S, Federal Reserve Bank of New York

☆ Computing and storage are moving to the edge, and IT needs to be ready
▼ + stars: | 2024-06-11 | by ( Bob Violino | ) www.cnbc.com time to read: +3 min

"In essence, edge computing complements cloud computing, extending digital transformation to the edge," Bittman said. Gartner research shows that edge computing has value in all industries, "although how it's used varies widely," Bittman said. "Whenever an enterprise has people or assets widely distributed, where interactions are taking place at the edge — shopping, assembling, collaborating, systems of all sorts — edge computing may make sense." Sectors that are the most distributed or are asset-heavy are and will use edge computing the most, Bittman said. "Edge computing brings data, analytics processing, and storage closer to the equipment to monitor machine health in real time," she said.

Persons: Thomas Bittman, Bittman, Michele Pelino, Pelino Organizations: International Data Corporation, IDC, Companies, Gartner, Forrester Research

☆ Virginie Viard exits Chanel, leaving top fashion job open
▼ + stars: | 2024-06-06 | by ( Stephy Chung | ) edition.cnn.com time to read: +3 min

CNN —Virginie Viard is exiting Chanel after five years serving as the French luxury house’s artistic director of fashion collections. The designer took on the position following Karl Lagerfeld’s death in 2019 after working alongside him at Chanel for decades. Pascal Le Segretain/Getty ImagesChanel said that it wanted to thank Viard “for her remarkable contribution to Chanel’s fashion, creativity and vitality.”Just last month, Chanel’s chief executive Leena Nair told The Business of Fashion that “since Virginie took over from Karl… the Chanel fashion business has multiplied by 2.2. The Chanel ready-to-wear business has been multiplied by 2.5, and the ready-to-wear business last year of Chanel grew by 23%.”The brand’s earnings rose 16 percent to $19.7 billion in 2023. Karl Lagerfeld and Virginie Viard walk the runway during the Chanel show as part of Paris Fashion Week on October 2, 2018 in Paris, France.

Persons: Virginie Viard, Karl Lagerfeld’s, fashion’s, Lagerfeld, Gabrielle “ Coco ” Chanel, Chanel, Viard’s, “, ”, Pascal Le Segretain, Viard “, Leena Nair, Virginie, Karl …, Fendi, Karl Lagerfeld, Gabrielle Chanel, Valentino’s Pierpaolo Piccioli, Alessandro Michele, Gucci, Sarah Burton, Alexander McQueen Organizations: CNN, Chanel, Paris Haute Couture Locations: Chanel, Paris, France, British

☆ It’s all about fun and games now at these dead former Sears stores
▼ + stars: | 2024-06-06 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

New York CNN —In Florida, a handful of dead mall anchor Sears stores, left vacant and unmoored by the iconic retailer’s bankruptcy six years ago, are being jolted back to life. Oca said all venues Elev8 Fun uses are converted commercial spaces of more than 100,000 square feet. Construction began in the empty Sears stores at the citrus Park Mall in early 2022 and the facility opened in May 2023. The team also studied the local demographic and competitors to decide which attractions made sense to include in each new Elev8 Fun center. So we decided to put all of the attractions that we could into that former Sears store,” Oca said.

Persons: Oca, ”, Solomon, Victor Calanog, ” Calanog, “, pickleball, Elev8, Lainie Solomon Calanog, Lainie Solomon, “ Sanford, Jim Hull, “ I’m, ” Hull Organizations: New, New York CNN, Sears, Design Lab, CNN, Oca, Seminole, Treasure, Miami International, Entertainment, Manulife Investment Management, Industry, Construction, Walt Disney World, Universal Studios, Hull Property Group, ” Hull Locations: New York, Florida, Tampa , Florida, Sanford , Florida, Tampa, Jensen, Miami, Sanford, Orlando, Hull, Citrus

☆ Robert Pickton: Canadian serial killer dies aged 74 after prison assault
▼ + stars: | 2024-06-01 | by ( Amarachi Orie | ) edition.cnn.com time to read: +2 min

CNN —Canadian serial killer Robert Pickton - who was convicted of killing six women and confessed to killing dozens more - died after being attacked earlier this month by another inmate, prison authorities said. Pickton is one of the most notorious serial killers in Canadian history, bringing his victims to his pig farm and feeding their remains to his animals. Pickton had been operating a pig farm in the nearby city of Port Coquitlam, where police found the remains of 33 women. However, Pickton confessed to murdering 49 women when talking to an undercover police officer in a jail cell. The case became the largest serial killer investigation in Canada’s history and Pickton’s pig farm became the largest crime scene in Canadian history, with investigators taking 200,000 DNA samples.

Persons: Robert Pickton, Pickton, Pickton’s, “, Cynthia Cardinal, Georgina Papin, Michele Pineault, Stephanie Lane, ” Organizations: CNN, Cartier, Correctional Service Canada, CSC, Canadian, Globe Locations: Canadian, Canada’s Quebec, Downtown Eastside, British Colombia, Port Coquitlam, British Columbia

☆ Safaris aren't the only tourist attraction in Africa. From cruises to wine tasting, here's what else you can do
▼ + stars: | 2024-05-28 | by ( Harriet Akinyi | Penny Sadler | ) www.cnbc.com time to read: +6 min

Bungy jumping at Soweto Towers, a decommissioned power station in Johannesburg, South Africa. Explore the beachAfrican beach towns combine beauty and culture, in places like Seychelles, Kenya, Tanzania, South Africa, Mozambique, Mauritius, Zanzibar, Ghana, Namibia and Egypt. In addition to being a popular stop for world cruises, East and South Africa have their own ocean cruise routes which follow the coastlines and visit offshore islands. But South Africa is the continent's crown jewel. The wine country of Franschhoek, outside of Cape Town, South Africa.

Persons: Toubkal, there's, Thomas Janisch, Zina Bencheikh, Madagascar's Tsingy, Carlo Morucchio, Kenya's Masai Mara, King Charles III, Queen Camilla, Mombasa's, Samir Hussein, Luciemarie Swanepoel, Jeremy Villasis, Peter Unger, Kate Powell, Intrepid's Bencheikh, Kevin Bubolz, Wrenelle Stander, Michele Westmorland Organizations: bungie, Getty, Intrepid Travel, UNESCO, Heritage, Wireimage, Diamonds, Sainte, Cruises, Stone, Queen, Cruise Line, MSC, Continental, Penguin Locations: Africa, Morocco's, Kilimanjaro, Tanzania, Nyangani, Zimbabwe, Soweto, Johannesburg, South Africa, Europe, East, Namibia, Victoria Falls, Zambia, Jinja, Uganda, Morocco, Seychelles, Kenya, Mozambique, Mauritius, Zanzibar, Ghana, Egypt, Mombasa, Mombasa's Fort Jesus, Fort Jesus, Kaya, Zanzibar's Stone, Madagascar, Swanepoel, Durban, Cape, Kivu, Silversea, Continental Europe, Middle East, Port, Ethiopia, Wesgro, Stellenbosch, Franschhoek, Cape Town , South Africa

☆ It turns out that empathy is contagious, so try to pay it forward
▼ + stars: | 2024-05-28 | by ( Dr. Katie Hurley | ) edition.cnn.com time to read: +6 min

A new study that tracked 184 people (99 females and 85 males) for two decades starting at age 13 found that empathy is catching. When we practice empathy with our teens, we literally pay it forward for the next generation. “These mothers showed parental warmth with their teens, and these teens learned empathy in the moment. Handle your own stressStress can be contagious in families, and you can’t help your teens if you are feeling compromised. Empathy development doesn’t occur within the context of a single monologue, rather a series of chats over time.

Persons: Katie Hurley, Strong, Fiona McPhee, ”, it’s, Michele Borba, “, Borba, ” Borba, that’s, you’re Organizations: CNN, University of Virginia, “ Research

☆ A tech company that posted a 'whites only' job ad was ordered to pay $7.5K and give staff better training
▼ + stars: | 2024-05-27 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

The DOJ secured the agreements with Arthur Grand Technologies Inc., an information technology services firm, earlier this month. The job ad said it was after "only US-born citizens [white] who are local within 60 miles from Dallas, TX." Arthur Grand apologized and said that an employee added discriminatory language to the listing and published it without authorization. AdvertisementAs part of its settlement with the Justice Department, Arthur Grand will pay the US Treasury a civil penalty of $7,500 and implement comprehensive training for its staff on INA compliance. Last month, Business Insider reported on a study that showed CVs with Black-sounding names are less likely to get callbacks.

Persons: —, Arthur Grand, Kristen Clarke, Michele Hodge, OpenAI, Arthur Grand didn't Organizations: Service, US Department of Justice, DOJ, Arthur Grand Technologies Inc, Immigration, Business, Department, Department of Labor's, LinkedIn, Justice Department, Labor, Justice Department's Civil, Division, US Treasury, INA, Labor Department, Bloomberg Locations: Virginia, Dallas , TX

☆ South Africa has failed its Black majority. Nelson Mandela’s political heirs may pay the price
▼ + stars: | 2024-05-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +12 min

When South Africans vote Wednesday, an unhappy combination of rampant corruption, soaring joblessness, crippling power cuts and feeble economic growth will likely be top of mind. Black South Africans, who make up 81% of the population, are at the sharp end of this dire situation. ‘Elite enrichment’Under apartheid — and colonial rule before that — Black South Africans were violently oppressed and denied many basic human rights. Millions of South Africans still live in such informal settlements. “The poster child of this is the electricity sector.”For much of last year, South Africans were without power for at least some portion of the day.

Persons: ”, Nelson Mandela’s, —, Cyril Ramaphosa, Leon Sadiki, BEE, Moeletsi Mbeki, Thabo Mbeki, White, “, Tshediso Matona, Anders Pettersson, Black, …, Kganki Matabane, Matthew Parks, Matona, Mbeki, Ricardo Hausmann, Jacob Zuma, Haroon Bhorat, Michele Spatari, ” Bhorat, hasn’t, ANC “, Zuma, Ramaphosa, Cas Coovadia, Hausmann Organizations: Johannesburg CNN, National Congress, ANC, World Bank, Oxford Economics, Harvard University, Democratic Alliance, Bloomberg, Getty, South African Institute of International Affairs, Wits University, CNN, ”, BBEE, Black Business Council, South African Trade Unions, Harvard’s, University of Cape, South Africa’s Free, International Monetary Fund, Fitch, IMF, JPMorgan, Shell, Unilever, Business, Business Unity, Harvard Growth Locations: London, Johannesburg, Sudan, Africa, Alexandra, South Africa, Leon, Isipingo, KwaZulu, Natal, South, ”, University of Cape Town, loadshedding, Namahadi, Frankfort, Business Unity South Africa

☆ Welcome to the WFH Friday economy: It's a time for hair masks, spas, day drinking, and no-camera meetings
▼ + stars: | 2024-05-24 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Read previewFor Hannah Kristin, the last day of the workweek has a new name: Hair Mask Fridays. Sure, there were spurts of relaxed Fridays in manufacturing and Friday after-work drinking culture, but since the 1990s Fridays have been pretty much like every other day, according to Bloom. "And then from 2021 onwards, it started to become the WFH day. "Personally, I don't mind it, but driving in rush hour traffic every day twice a day is just not my favorite thing," she said. Are you completing side quests on WFH Fridays?

Persons: —, Hannah Kristin, Kristin, It's, Tom Colella, Colella, they're, Nicholas Bloom, Bloom, Michele Allard, Sara Daigle, hybridly, Daigle, Gen Organizations: Service, Business, BI, Placer.ai, Stanford University, Daigle Locations: Chicago, New York City, Brooklyn, Manhattan, Dallas

☆ Eric Molitor was acquitted on charges related to the Gretchen Whitmer kidnapping plot. Now he’s running for sheriff
▼ + stars: | 2024-05-19 | by ( Alison Main | ) edition.cnn.com time to read: +6 min

CNN —A man acquitted last year on charges linked to a 2020 plot to kidnap Michigan Gov. Gretchen Whitmer is now looking to unseat an incumbent county sheriff. Eric Molitor has filed to run in the Republican primary this August against Trent Taylor, the sheriff of deep-red Wexford County in Northern Michigan. Taylor told CNN he believes he’s constitutionally obligated to enforce the state’s laws and that it would be “reckless” not to do so, as Molitor has said he would. Molitor told CNN his experience opened his eyes to flaws in the justice system.

Persons: Gretchen Whitmer, Eric Molitor, Trent Taylor, ”, Taylor, “, Molitor, Whitmer, he’s, ” Taylor, ” Molitor, we’ve, Dan Pfannes, Pfannes, MAGA, Donald Trump’s “, Trump, Michele Lundgren, Dana Nessel, ’ ”, CNN’s Lauren del Valle, Veronica Stracqualursi, Josh Campbell, Michelle Watson Organizations: CNN, Michigan, Republican, Democrat, Michigan State University, Northern, Capitol, Michigan House, Democrats, The Michigan Sheriffs ’ Association, Michigan Democratic Party, MAGA Republican, Michigan Republicans won’t, Republican Party Locations: Wexford County, Northern Michigan, Cadillac , Michigan, Michigan, Wexford

☆ Alice Stewart, a CNN Political Commentator, Dies at 58
▼ + stars: | 2024-05-18 | by ( Orlando Mayorquín | More About Orlando Mayorquín | ) www.nytimes.com time to read: +1 min

Alice Stewart, a Republican strategist and political commentator on CNN, has died. Her death was announced by CNN. The company said the police found Ms. Stewart’s body outdoors in Northern Virginia early Saturday morning. Ms. Stewart had appeared on the cable news outlet as a conservative commentator since the 2016 presidential race. Before that, Ms. Stewart had worked on several Republican presidential campaigns.

Persons: Alice Stewart, Mark Thompson, ”, Stewart, Mike Huckabee, Michele Bachmann, Rick Santorum, Ted Cruz Organizations: Republican, CNN, ” CNN Locations: Northern Virginia, Arkansas

CNN —Alice Stewart, a veteran political adviser and CNN political commentator who worked on several GOP presidential campaigns, has died. Law enforcement officials told CNN that Stewart’s body was found outdoors in the Bellevue neighborhood in northern Virginia early Saturday morning. She went on to serve as the communications director in then-Arkansas Gov. Most recently, Stewart was the communications director for Texas Sen. Ted Cruz’s 2016 GOP campaign. David S. HollowaySpeaking about her role as a commentator for the network, Stewart told Harvard Political Review in 2020 that she brings “a perspective that I think CNN appreciates.”“My position at CNN is to be a conservative voice yet an independent thinker,” Stewart said.

Persons: Alice Stewart, “ Alice, ” Mark Thompson, “, ” Stewart, Stewart, Mike Huckabee’s, Michele Bachmann, Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz’s, Wolf Blitzer, ”, ” Blitzer, Jessica Dean, ” Suzanne Malveaux, Charles Blow, David S, “ I’m, Trumper, Maria Cardona, she’s, ” Cardona, Alice, Credit Union Cherry, CNN’s Kayla Gallagher Organizations: CNN, Harvard International, Arkansas Gov, Minnesota, Texas, GOP, CNN Grill, Convention, Harvard, Trump, “ CNN, Institute of Politics, Harvard University’s Kennedy School, TCS New York City Marathon, Credit Union, Credit Union Cherry Blossom Locations: Bellevue, Virginia, Atlanta, Georgia, Rock , Arkansas, Pennsylvania, Charlotte , North Carolina

☆ Watch transportation, retail & regional bank stock for market weakness
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKeep an eye on transportation, retail and regional bank stocks for signs of market weaknessMichele Schneider of Marketgauge.com explains why she continues to see opportunities in the commodities space.

Persons: Michele Schneider, Marketgauge.com

That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.

Persons: —, Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income

☆ Yen eases despite intervention threat, Aussie steady before RBA
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

The yen continued to drift lower against the dollar on Tuesday as gaping interest rate differentials weighed on the currency, despite fresh warnings from Japanese officials following two rounds of suspected dollar-selling intervention last week. The U.S. dollar gained 0.22% to 154.235 yen in early Asian trading, adding to its 0.58% rally from Monday. The Aussie edged up 0.17% to $0.6636, heading back towards the high of $0.6650 from Friday, a level last seen on March 8. All but one of the 37 economists surveyed in a Reuters poll expect the RBA to keep rates on hold, with the other predicting a quarter point rate hike, amid stubbornly high inflation. "A different set of central bankers would have had the policy rate higher sooner on the same set of data," Taylor Nugent, a markets economist at National Australia Bank, wrote in a note.

Persons: Michele Bullock, Masato Kanda, Carol Kong, Bullock, Taylor Nugent Organizations: U.S, Reserve Bank of Australia, The U.S ., Bank of Japan, Japan's Ministry of Finance, Federal, Commonwealth Bank of Australia, Bank of, National Australia Bank Locations: The, Japan

☆ Goldman Sachs just refreshed its conviction lists of global stocks — giving one 67% upside
▼ + stars: | 2024-05-06 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs just refreshed its lists of top global stock picks, adding some and removing others. The investment bank's "Conviction List - Directors' Cut" aims to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a subcommittee designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 30% upside potential in the next 12 months. Goldman has a target price of 11,850 British pence ($148.71) on the stock, giving it around 30.7% upside potential.

Persons: Goldman Sachs, Goldman, London Stock Exchange Goldman, Oliver Carruthers, Samsung Biologics Goldman, Ziyi Chen, Michele Della Vigna, — CNBC's Michael Bloom Organizations: bank's Investment, London Stock Exchange, Microsoft, Samsung, Korean, EU's Renewable Energy, . Locations: Asia, Pacific, Europe, Korean

☆ 5 things to know before the stock market Monday, May 6
▼ + stars: | 2024-05-06 | by ( Michele Luhn | ) www.cnbc.com time to read: +3 min

Feeling optimisticStock futures were higher Monday after ending last week on a positive note in light of a weaker-than-expected jobs report. Last week, the Dow and Nasdaq rose 1.1% and 1.4%, respectively, while the S&P 500 added 0.5%. Buffett's back, all rightWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. During the meeting, Buffett also fielded questions from shareholders, opined on the future of artificial intelligence and praised Fed Chair Jerome Powell for his work steering the economy. Final verdictCombination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.

Persons: Joseph Prezioso, Warren Buffett, Charlie Munger, Buffett, Greg Abel, Jerome Powell, Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, Zhao, Justin Sullivan Organizations: Dow, Nasdaq, Traders, Federal Reserve, Disney, Anadolu Agency, Getty, Berkshire, CNBC, Oracle, Berkshire Hathaway's, Paramount, Reuters, Bloomberg Locations: Omaha , Nebraska, Omaha, San Rafael , California

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