DIRS.INFO The most relevant business & tech news

☆ How doomsday preppers made gold and silver precious end-of-the-world assets
▼ + stars: | 2024-03-14 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Gold tends to gain value when people lose faith in banks and money, as it did in the Great Recession. Earlier this month, the gold contract for April settled at $2,126.30 per ounce, the highest level since the contract's creation in 1974. Gold, nostalgia and the end of the world...At the heart of people's apocalyptic fantasies is nostalgia, Berger said. When everything else is going down the tubes, gold is the one thing that's likely going to do well. Trump has called for returning to the gold standard and, at least at one point, owned up to $200,000 of the metal, reports found.

Persons: James Berger, William Bernstein ,, Bernstein, Berger, Hay, William Bernstein, Donald Trump's, Trump, Vladimir Putin, Ethan Swope Organizations: Yale University, CNBC, NBC, NATO Locations: United States, Russian, Ukraine, Gaza, Aguanga , California

☆ Opinion: A Black man’s view on what Biden should do for the White working class
▼ + stars: | 2024-03-06 | by ( Opinion Keith Magee | ) edition.cnn.com time to read: +10 min

Could President Biden, who claims to have labor-friendly policies, be the one to turn the tide by appealing to the White working class and giving his party a much-needed electoral boost in the process? After all, issues affecting poor White voters, such as health care, higher education and increased access to childcare have long been traditional Democratic priorities. That gaffe echoed Obama’s off-the-cuff remark in 2008 that “bitter” low-income voters “cling to guns or religion” — comments that didn’t endear him to the White working class, either. Some White voters of modest means perceive Democrats as being determined to secure equality for minority groups at their expense. And working-class White Americans tended for some reason not to perceive Obamacare — the president’s signature social policy achievement — as immediately benefiting them.

Persons: Keith Magee, I’m, Donald Trump, Keith Magee Arron Dunworth, pollsters, Biden, White, ”, Du Bois, Bill Clinton, Hillary Clinton —, They’ve, —, MAGA, Hillary Clinton’s horrendously, Caroline Graham of, Barack Obama’s, Obama, Obamacare, Trump, –, you’ll, ” —, Martin Luther King, Jr, Will Biden Organizations: University College London Institute for Innovation, Newcastle University, CNN, Republicans, White, Democratic, Trump, Brookings Institution, Infrastructure Investment, Jobs, United Auto Workers, Poor Locations: American, America, Trump, Michigan, Thursday’s

☆ The American Dream is under siege
▼ + stars: | 2024-03-02 | by ( Matt Egan | ) edition.cnn.com time to read: +15 min

Parents of young children are making difficult choices to afford child care — or they’re opting to evade it by dropping out of the workforce altogether. Even as the inflation rate has cooled across the US economy, child care remains a sore spot for many families. The weekly price of day care for a toddler surged 9% in 2023, according to Care.com, a marketplace for child care. Of course, Allison is hardly alone in feeling like the American Dream has been more difficult — and expensive — to attain than imagined. “The American dream is being taken away from the younger generation by the housing affordability challenges,” said Lawrence Yun, chief economist at the National Association of Realtors.

Persons: Hana Husković, Price, Hana, Michelle, they'll, ” Hana, “, It’s, they’ll, ’ Allison Powell, Liam Kelly, ” Allison, Allison Powell, Corinne ., ”, Allison, I’ll, homebuyers, Lotfi Karoui, Goldman Sachs, Lawrence Yun, Yun, Priscilla Almodovar, Fannie Mae, ” Almodovar, that’s, Almodovar, they’d, Homebuilding, Mark Zandi, Biden, ” Lael Brainard, Brainard, ” Brainard, ‘, Rachael Gambino, Garrett Mazzeo, Rachael, Deborah Brunswick, John General, ” Rachael, won’t, they’ve, – Organizations: New, New York CNN, Bureau of Labor Statistics, Wall, CNN, Federal, Intercontinental Exchange, ICE, Bloomberg, Getty, Rust Belt, National Association of Realtors, North, NAR, That’s, Baby Boomers, Homeowners, Federal Reserve, Moody’s Analytics, White, National Economic Council, American, Target, Starbucks, Facebook Locations: New York, United States, Atlanta, Peachtree Corners , Georgia, Decatur, Decatur , Georgia, Carolina, Yugoslavia, Italy, Mexico, Oakland , California, Livermore, San Francisco, California, Los Angeles, San Diego, Francisco, Miami, Honolulu, Rust, Des Moines , Iowa, Dayton , Ohio, Cleveland , Ohio, Scranton , Pennsylvania, Los Angeles , California, North America, America, States, Lansdale , Pennsylvania, Philadelphia

☆ Murder and Magic Realism: A Rising Literary Star Mines China’s Rust Belt
▼ + stars: | 2024-03-01 | by ( Vivian Wang | ) www.nytimes.com time to read: 1 min

For a long time during Shuang Xuetao’s early teenage years, he wondered what hidden disaster had befallen his family. His parents, proud workers at a tractor factory in the northeastern Chinese city of Shenyang, stopped going to work, and the family moved into an empty factory storage room to save money on rent. But they rarely talked about what had happened, and Mr. Shuang worried that some special shame had struck his family alone. The region had been China’s industrial heartland, but suddenly millions of laborers were left unemployed. Even today, the region, sometimes called China’s Rust Belt, has not fully recovered.

Persons: Shuang Xuetao’s Locations: Shenyang, China

BLYTHEWOOD, S.C. (AP) — Scout Motors celebrated the start of construction on its $2 billion electric SUV plant in South Carolina on Thursday not with a line of people in suits with shovels but with a nod to the company's gasoline-powered past. People are leaving the Rust Belt and the snow and want to come here where there's economic freedom,” Republican South Carolina Gov. Scout Motors made gasoline-powered vehicles for about 20 years when it was owned by International Harvester. The Volkswagen-owned Scout Motors enters a growing, but uncertain U.S. market. But you have to plan without those things,” Scout Motors CEO Scott Keogh said.

Persons: ”, Christian Vollmer, Henry McMaster, Scott Keogh, Keogh Organizations: — Scout Motors, Scout, Fort Wayne , Indiana —, Volkswagen, South, Scout Motors, BMW, Volvo, Southeast ., Republican South Carolina Gov, International Harvester, Scouts, Republican, ” Scout Motors Locations: South Carolina, Fort Wayne , Indiana, Blythewood , South Carolina, Columbia, Greer, Charleston, Southeast

☆ Kellyanne Conway: Who Should Be Trump’s No. 2? - The New York Times
▼ + stars: | 2024-02-05 | by ( Kellyanne Conway | ) www.nytimes.com time to read: +2 min

His dominance in the polls and at the polls this year make clear the will of the people: They want Mr. Trump to be No. Hence the curiosity: Who does Mr. Trump want to be his No. As a congressman representing Indiana, Mr. Pence had worked in Washington for 12 years, but never became Washington. Talk has turned to whether Mr. Trump should choose an insider or an outsider, a man or a woman, a legislator or an executive. Yet I think the most important vice-presidential selection question for Mr. Trump is less “who?” than “why?” In other words, the individual should complement, not complicate, his America First record and vision, and recognize the difference between loyalty-as-tenacity (yes) and loyalty-as-obsequiousness (no).

Persons: Trump, Donald Trump, Nikki Haley, Electability, Mike Pence, Pence, Hillary Clinton’s Organizations: Iowa, United, Indiana, Healthy Locations: New Hampshire, ”, Nevada , South Carolina, Japan, Indiana, Healthy Indiana, Washington, Midwest, Manhattan

☆ GOP Senate candidate David McCormick has up to $2.2 million in a 'dynasty trust' that allows him to evade wealth taxes — potentially forever
▼ + stars: | 2024-02-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

He also holds up to $2.2 million in something called a "dynasty trust." Somewhere between $1.1 million and $2.25 million are held in an account called "David H McCormick 2020 Dynasty Trust." A dynasty trust is essentially a pot of money often used by the ultra-rich to pass wealth down to future generations without incurring certain wealth taxes. In Pennsylvania — where McCormick owns a home and is running for Senate — dynasty trusts can last forever. $37,000 on private jet flights in recent monthsBeyond the dynasty trust, there are other aspects of McCormick's wealth that raise eyebrows.

Persons: Dave McCormick, —, who's, It's, McCormick, Democratic Sen, Bob Casey, David H McCormick, whittle, Pennsylvania — Organizations: Service, Bridgewater, GOP, Republicans, Democratic, US, Business, Credit Suisse, Senate Locations: Pennsylvania, In Connecticut, South Dakota, Swiss, Connecticut

☆ A Biden-Trump rematch would be mostly about Trump
▼ + stars: | 2024-02-01 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Most Biden supporters (68%) said they would be casting their vote against Trump as opposed to just 32% who said it would be a vote to support Biden. It’s the opposite for registered voters supporting Trump; 60% said it would be a vote for Trump compared with 40% who would be casting a vote against Biden. For now, Trump has an edge; he gets the support of 49% of registered voters in CNN’s poll compared with 45% who back Biden. Trump’s roseMore Americans have an unfavorable opinion of Biden than have an unfavorable view of Trump in CNN’s poll. Concerns about Biden’s age stickThe most-cited concern about Trump among Republicans and Republican-leaning registered voters is his demeanor.

Persons: Joe Biden, Biden, Donald Trump, SSRS, Trump, ”, Jennifer Agiesta, Ariel Edwards, Levy, Biden’s favorability, Trump’s, It’s, Haley, Nikki Haley, Jake Tapper, “ We’ve, ” Haley, Tapper, “, I’m, He’ll, he’ll, souring, it’s, Kamala Harris, Hillary Scholten, CNN’s Manu Raju, ” Scholten, Raju Organizations: CNN, Trump, Biden, Republican, Quinnipiac, Republicans, Democratic, Haley Republicans, South Carolina Gov, GOP, Republican Party, Teamsters, United Auto Workers, UAW, Michigan Democrat Locations: CNN’s, Agiesta, Quinnipiac, Iowa, New Hampshire, Trump, – Pennsylvania, Wisconsin , Michigan, Georgia, Arizona, Nebraska, Washington ,, Belt, Michigan, –, Israel, Gaza

America’s weak.”Neither Casey nor McCormick are likely to face serious opposition in Pennsylvania's April 23 primary before facing off against each other in November's general election. The Biden administration's support for Israel has been complicated politically in other states the president is counting on in his reelection bid. “Israel needs America's firm and unequivocal support,” McCormick wrote. Jewish voters typically vote overwhelmingly Democratic, and Democrats right now are trying to balance their interest in protecting Israel with that of younger voters, who have been sympathetic to Palestinians, he said. “Jewish voters have been one of their most loyal supporter groups.

Persons: —, Biden, hasn't, David McCormick, Joe Biden, Democratic Sen, Bob Casey, McCormick, Casey, Donald Trump, West Virginia Sen, Joe Manchin, persuadable, Hillel, “, ” McCormick, Barack Obama, Israel's, ’ ” Casey, Israel, Israel ”, George W, Bush, Christopher Borick, ” Borick, it’s, Marc Levy Organizations: U.S . Senate, Democratic, Israel, Biden, Trump, Senate, West, Republicans, Hamas, CBS, American Israel Public Affairs Committee, Foreign, Jewish Community Center, Army, Pennsylvania, Jewish, Muhlenberg College Institute of Public Locations: HARRISBURG, Pa, Pennsylvania, Israel, Gaza, Iran, U.S, Afghanistan, Pennsylvania's, Michigan, Wisconsin, Rust, West Virginia, Pittsburgh, Philadelphia, Allentown

☆ Winter Storms and Dangerous Cold Bring Weather Warnings Across U.S.
▼ + stars: | 2024-01-15 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

A passing weather system brought snowfall and subzero temperatures to Iowa as voters prepared for the presidential caucuses on Monday. Photo: RACHEL MUMMEY/Bloomberg NewsMore than 160 million people were under winter weather warnings or advisories Sunday as a hazardous mix of Arctic cold and wind, along with snow and sleet, pummeled much of the country. A cold front spilling out of Canada is responsible for dangerously cold temperatures from the Pacific Northwest all the way east to the Rust Belt, the National Weather Service said.

Persons: RACHEL MUMMEY Organizations: Bloomberg, National Weather Service Locations: Iowa, Canada, Pacific Northwest

☆ How the Architect of Argentina’s Grim Economy Is Boosting His Presidential Bid
▼ + stars: | 2023-11-18 | by ( Ryan Dubé | ) www.wsj.com time to read: 1 min

SAN MIGUEL, Argentina—As a so-called point man for the ruling Peronist political movement, Carlos Coronel does everything from organizing soccer tournaments in the working-class outskirts of Buenos Aires to helping the disabled secure artificial limbs. Now, as Argentina prepares for a presidential election on Sunday, he seeks to collect votes by fanning out across the teeming Rust Belt-like communities of a province whose voters are essential to winning the presidency.

Persons: Carlos Coronel Organizations: MIGUEL, Peronist Locations: Argentina, Buenos Aires

☆ 11 U.S. cities where you need to earn more than $200,000 to buy a home
▼ + stars: | 2023-11-17 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

You'll need to make over $200,000 annually to afford a home in some California cities, a recent National Association of Realtors report reveals. Perhaps unsurprisingly, cities that require the highest income are large urban coastal hubs where homes tend to be more expensive. In California, homes are both desirable and scarce, which is why the state has some of the highest home prices in the U.S. Here are the 11 metro areas where households need to earn over $200,000 to afford a median-priced home. Similarly, homes in smaller rust belt and rural cities are much cheaper compared with some cities in California.

Persons: Warren Buffett Organizations: National Association of Realtors, Thousand Oaks, San Locations: California, San Jose, Sunnyvale, Santa Clara , California, Anaheim, Santa Ana, Irvine , California, Francisco, Oakland, Hayward , California, Honolulu, Hawaii, Diego, Carlsbad , California, Salinas , California, Oxnard, Ventura , California, Angeles, Long, Glendale , California, San Luis Obispo, Paso Robles , California, Boulder , Colorado, Naples, Marco Island, Florida, Decatur , Illinois, Charleston , West Virginia, Erie , Pennsylvania, Youngstown , Ohio

☆ America's cities are vying for a hot new title: best place to ride out the coming dystopia
▼ + stars: | 2023-11-02 | by ( Matthew E. Kahn | ) www.businessinsider.com time to read: +14 min

For decades, cities have duked it out for titles like "best city for business" or "healthiest city in America," but now they're starting to compete for a new title: best place to ride out dystopia. While Sun Belt cities are working to mitigate these challenges, the increased risks also create an opportunity for once forgotten cities. The declaration has been followed up with investments in key areas — climate resilience was one of the four pillars that made up the city's four-year strategic plan released at the start of 2023. And the cities that could become climate havens have their weather downsides — Buffalo will still have some harsh winters, too. If Buffalo, Detroit, Pittsburgh, and other cities succeed in their climate-resilience agendas, they will grow, attracting residents from more at-risk areas of the country.

Persons: Tesla, Byron Brown, Redfin, Matthew E, Kahn Organizations: Los Angeles, Fortune, Sun, National Oceanic, Atmospheric Administration, Association of Environmental, Federal Emergency Management Agency, FBI, Street Foundation, Pittsburgh, The New York Times, University of Southern, Hoover Institution Locations: America, West, Midwest, Dallas, Houston, Atlanta, Buffalo , New York, Detroit, USA, Florida, California, South, Baltimore, Cincinnati, Phoenix, Angeles County, Miami, Dade County, Lake Erie, Buffalo, Duluth , Minnesota, Grand Rapids , Michigan, Chicago, Northern, Pittsburgh, Rust, Los Angeles, University of Southern California

☆ The biggest winners — and losers — in the coming AI job apocalypse
▼ + stars: | 2023-11-01 | by ( Emil Skandul | ) www.businessinsider.com time to read: +10 min

In fact, as other long-term trends take hold, many of these working-class roles are poised for a job explosion. While manufacturing jobs as a whole are expected to stay flat, spending in this industry has boomed to $200 billion each year, tripling in the past five years. "What characterizes the physical labor jobs that are safe for the next five or 10 years are things that are in an unpredictable physical environment," Kweilin Ellingrud, a McKinsey Global Institute director, told me. Instead of replacing these jobs, AI will likely benefit specific roles by making it easier to do the most routine parts of the job. He added: "There are these jobs that are in a middle ground where the physical work may remain but the supervision might be more exposed."

Persons: plumbers, Philip Levine, there's, Mark Muro, barometers, OpenAI, Ellingrud, Muro, Emil Skandul, Tony Blair Organizations: Ford, US Bureau of Labor Statistics, Brookings Institution, Accenture, Bureau of Labor Statistics, McKinsey, McKinsey Global Institute, Research, Tony Blair Institute Locations: American, America

☆ Trump skips debate to woo blue-collar workers in Michigan
▼ + stars: | 2023-09-27 | by ( Nathan Layne | ) www.reuters.com time to read: +4 min

Former U.S. President and Republican presidential candidate Donald Trump speaks during a 2024 presidential campaign rally in Dubuque, Iowa, U.S. September 20, 2023. Biden on Tuesday joined a picket line outside Detroit with striking United Auto Workers union members, backing their call for a 40% pay raise. UAW President Shawn Fain called Biden's visit a "historic moment," and thanked him for his support. "Trump has very strong support from working class voters in Michigan and the auto industry as a whole." ELECTRIC VEHICLESIn Wednesday's speech, Trump will emphasize the negative impact of inflation on the livelihoods of blue-collar workers, Miller said.

Persons: Donald Trump, Scott Morgan, Joe Biden, Biden, Trump, Robert Bruno, Shawn Fain, Jason Miller, Miller, Michael Schostak, Nathan Layne, Joe White, Jason Lange, Colleen Jenkins, Timothy Gardner Organizations: U.S, Republican, REUTERS, Detroit, Trump, Democratic, Michigan, University of Illinois, Republican Party, Tuesday, United Auto Workers, UAW, Drake Enterprises, General Motors, Michigan Republican Party, Thomson Locations: Dubuque , Iowa, U.S, Michigan, Pennsylvania, Wisconsin, Detroit, Lordstown , Ohio, New York, Wilton , Connecticut, Washington

[1/8] Former U.S. President and Republican presidential candidate Donald Trump addresses auto workers as he skips the second GOP debate, in Clinton Township, Michigan, U.S., September 27, 2023. "Donald Trump is lying about President Biden's agenda to distract from his failed track record of trickle-down tax cuts, closed factories, and jobs outsourced to China," Biden's campaign said in a statement while Trump spoke. The UAW has to date not backed either presidential candidate, making it the only major union not to endorse Biden. The UAW leadership has welcomed Biden's support, however, and spoken about Trump and his record in scathing terms. Promising to end the government's EV push if elected, Trump urged the UAW to back him in the presidential race.

Persons: Donald Trump, Rebecca Cook, autoworkers, Trump, Joe Biden's, Ron DeSantis, Chris Christie, Donald Duck, Biden, charlatan, Biden's, Jason Roe, Roe, Nathan Layne, Kanishka Singh, Jason Lange, Joe White, Ross Colvin, Deepa Babington Organizations: U.S, Republican, GOP, REUTERS, Former U.S, America's, New, United Auto Workers union, General Motors, Chrysler, Ford, Trump, Republican Party, UAW, Thomson Locations: Clinton Township , Michigan, U.S, Former, Detroit, Florida, New Jersey, China, Michigan, Pennsylvania, Wisconsin, It's, Wilton , Connecticut, Singh, Washington

Striking United Auto Workers (UAW) union workers picket outside the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 23, 2023. Striking auto workers say they would like to see more support from elected officials as they push to get companies to share more of the profits. Republicans believe Biden's push to electrify America's vehicle fleet, by pumping billions of dollars of tax rebates into EV manufacturing, is unpopular with auto workers. In Michigan, Trump will criticize Biden's economic policies and incentives promoting EVs and say he would do a better job of protecting blue-collar workers if elected to a second term, Miller added. Biden's Michigan visit represents the most support a sitting president has shown striking workers since Theodore Roosevelt invited striking coal workers to the White House in 1902, historians said.

Persons: Nalio Chery, Joe Biden, Donald Trump, Biden, Shawn Fain, Fain, Dave Urban, Brandon Cappelletty, Trump, Robert Bruno, Ronald Reagan, Jason Miller, Miller, Karen Finney, Finney, Theodore Roosevelt, Nandita Bose, Jarrett Renshaw, Nathan Layne, David Shepardson, Heather Timmons, Jamie Freed Organizations: United Auto Workers, UAW, Ford Michigan Assembly Plant, REUTERS, Rights, Republican, Biden, Trump, General Motors, Ford, Chrysler, University of Illinois, Michigan, EV, Democratic, White House, Thomson Locations: Wayne , Michigan, U.S, Dieu, Michigan, Wayne County , Michigan, Detroit, Toledo , Ohio, Pennsylvania, Wisconsin, Biden's Michigan, Kansas City

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, September 26, 2023. Democrat Biden traveled to a Belleville, Michigan, parts distribution center owned by General Motors (GM.N), and joined dozens of picketers outside. Auto company sources said Biden's support for a 40% pay hike may make it harder to reach a compromise with the UAW. Calling Biden's visit a "historic moment in time," Fain accused CEOs of taking the profits and leaving workers to "fight for scraps." Biden's Michigan visit represents the most support a sitting president has shown striking workers since Theodore Roosevelt invited striking coal workers to the White House in 1902, historians said.

Persons: Joe Biden, Evelyn Hockstein, Donald Trump, Democrat Biden, Biden, you've, Trump, Tesla, Elon Musk, autoworkers, Shawn Fain, Fain, Biden's, Dave Urban, Ronald Reagan, Jason Miller, Theodore Roosevelt, Jeff Mason, Nandita Bose, Jarrett Renshaw, Nathan Layne, David Shepardson, Heather Timmons, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Tuesday, Republican, Democrat, General Motors, Companies, U.S, Auto, Biden, Twitter, Secret Service, Drake Enterprises, AFL, EV, Trump, GM, Ford, Chrysler, Detroit, Washington, Democratic, Michigan, White House, Thomson Locations: Bellville, Wayne County , Michigan, Rights BELLEVILLE , Michigan, Michigan, Belleville , Michigan, Detroit, U.S, Pennsylvania, Wisconsin, Biden's Michigan, Washington, Philadelphia, Wilton , Connecticut

But union leaders say Trump's record in the White House speaks for itself. While the United Auto Workers union has withheld an endorsement in the 2024 presidential race, its leadership has repeatedly rebuffed Trump. Despite Trump's history of success in courting blue-collar workers in previous elections, union leaders say their members would do well to believe their own eyes. As president, Trump largely sat on the sidelines during a 40-day walkout at a General Motors plant in 2019. “President Trump has always been on the side of American workers,” his campaign spokesman Steven Cheung said in a statement.

Persons: Donald Trump, he’ll, Trump, “, Dave Green, Mark McManus, Ron Bieber, you’re, Peter Berg, ”, Steven Cheung, Cheung, Joe Biden, ” Trump, Trump's, Green, ” Green, “ Banks, Biden, Price, Linley Sanders Organizations: Detroit, United Auto Workers, Union, U.S, Supreme, Trump, UAW, Ohio, National Labor Relations Board, Republican, Trump -, ” Michigan AFL, Associated Press, Michigan State University, General Motors, Republicans, Democratic Party, AP, Democrats Locations: LANSING, Mich, Trump, Michigan, Detroit, Toledo , Ohio, Indiana, ”, California, U.S, Ohio, Lordstown , Ohio, Pennsylvania, Wisconsin, New York, Washington

Former President Donald Trump will travel to the battleground state of Michigan next week to meet with striking autoworkers instead of participating in the second Republican presidential debate, a person familiar with his plans said Monday. That’s the date others in the GOP field will gather at the Ronald Reagan Presidential Library in Simi Valley, California, for the cycle’s second primary debate. On Monday, the United Auto Workers and Detroit’s Big Three carmakers resumed talks aimed at ending a strike now in its fourth day. Stellantis described the discussion as “constructive.” A spokesperson for General Motors said representatives of the company and the United Auto Workers were continuing to negotiate. Trump earlier this summer traveled to Michigan, where the Oakland County GOP honored him as its Man of the Decade.

Persons: Donald Trump, Trump, Joe Biden, Biden, Ronald Reagan, Tucker Carlson, Ammar Moussa, “ Donald Trump, ” Moussa, Barack Obama, carmakers, Stellantis, ”, General Motors, Dave Green, “, ” Green, Jill Colvin, Joey Cappelletti Organizations: GOP, The New York Times, Associated Press, Ronald Reagan Presidential, Twitter, Trump, Biden, United Auto Workers, General, UAW, Oakland, NBC News Locations: Michigan, Simi Valley , California, Milwaukee, Rust, East Palestine , Ohio, Ohio, Indiana, China

☆ US Steel, once a symbol of America’s economic might, is now for sale in the bargain bin
▼ + stars: | 2023-08-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The Pittsburgh-based company formed in 1901 as a merger of the nation’s leading steel companies — including Carnegie Steel Corp. — and was engineered by financier J.P. Morgan. But, in recent years, US Steel’s fallen far below other American steel companies in steel output and stock market value. (Last year, US Steel shipped only 11.2 million tons of steel from its US operations and had just under 15,000 US employees.) That compares to 14.49 million metric tons from US Steel, including its operations in Europe, which rank 27th in the world for 2022, according to the World Steel Association. Bradford said all along the way, US Steel and other US integrated steelmaking rivals with storied names such as Bethlehem Steel, Inland Steel and LTV Steel underestimated the competitive challenge that they faced from overseas and mini-mills at home.

Persons: J.P, Morgan, Andrew Carnegie, eyeing, ”, Charles Bradford, “ It’s, ” Bradford, Nucor, Bradford, Walt, Joe Biden, Biden, what’s, he’s, Sen, J.D, Vance Organizations: New, New York CNN, US Steel Corp, US Steel, Steel, titans, Carnegie Steel Corp, United Nations, Homestead, US Steel's Carnegie, Illinois Steel Corp, Bettmann, Atlantic, Pittsburgh, Pittsburgh Post, Gazette, US, Fairfield Works, . Steel, World Steel Association . US Steel, Bethlehem Steel, Inland Steel, LTV Steel, Dow Jones, Walt Disney, JPMorgan, Co, Street, LTV, Reuters, Cliffs, The United Steelworkers, Ohio Republican Locations: New York, Pittsburgh, United States, Europe, Japan, Germany, Fairfield Works ., Charlotte, America, Bethlehem, steelmakers, China, India, Korea, Inland, Cleveland, Ohio

Feeling the pinch of rising housing costs and a slowing economy, the jobless graduates are forfeiting cities that have traditionally provided a stepping stone to middle-class wealth. The numbers varied by region, with 59% of graduates in the well-developed east heading home. To keep costs down as they stay longer in hope of finding a job, some young mega-city drifters even share their beds with strangers. One such post was looking for a roommate to share one bed in a room "with a huge balcony" in Beijing. ($1 = 7.2004 Chinese yuan renminbi)Reporting by Ella Cao and Ryan Woo; Additional reporting by Beijing newsroom; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer CHINA, Joyce Zhang, I've, Zhang, China's, Ella Cao, Ryan Woo, Conor Humphries Organizations: Central China Normal University, REUTERS, China News Service, China's, Xinhua, Reuters, Beijing, Thomson Locations: Wuhan, Hubei province, China, BEIJING, Beijing, Guangzhou, Shenzhen, Inner Mongolia, Hangzhou, Zhejiang

Indiana now wants to catch up to other places that have landed big chip manufacturing plants. The push is supported by Senator Todd Young, a Republican from Indiana, who was a co-author on the CHIPS Act and has been a leading voice on increasing funds for tech hubs. Companies and universities in Indiana have applied for multiple CHIPS Act grants, with the aim of winning awards not only for chip manufacturing but also for research and development. Those regions succeeded because of their strong academic research universities, big anchor companies, skilled workers and investors. He added that the federal government’s plan to initially put $500 million into tech hubs was too small and estimated it would take $100 billion in government aid to create 10 sustainable tech hubs.

Persons: Todd Young, Biden, ”, Mark Muro Organizations: Republican, Companies, Biden, Indiana, Indiana Chamber of Commerce, Brookings Institution Locations: Indiana, Silicon Valley, Boston

☆ Here’s why home prices stayed high in May
▼ + stars: | 2023-07-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

“The ongoing recovery in home prices is broadly based.”Before seasonal adjustment, prices rose in all 20 cities in May, as they had also done in March and April. Month over month, home prices rose in May for the fourth consecutive month. “Though home prices are likely to continue to cool slightly, limited inventory relative to buyer demand will likely keep prices somewhat afloat. By 1983, partly spurred by high inflation, the price rose to $75,500, and it continued rising to $126,100 by 1993. “It is worth noting that market data are coming up on last year’s record-high prices, notched during May and June,” he said.

Persons: “, ”, Craig Lazzara, “ It’s, Hannah Jones, Jones, George Ratiu, May’s, Ratiu, ” Ratiu Organizations: DC CNN, City Composites, Realtor.com, ”, National Association of Realtors, Federal Reserve Locations: Washington, Chicago, Cleveland, New York, Seattle, Las Vegas, Phoenix, Miami, Tampa , Florida, “, ’

☆ Home prices continue to climb with 'striking' regional differences, says S&P Case-Shiller
▼ + stars: | 2023-07-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The index's 10-city composite gained 1.1%, and the 20-city composite gained 1%. Current homeowners are reluctant to sell, given that most are paying mortgage rates that are less than half of today's rates. Demand returned after the initial jump in mortgage rates, as buyers seem to be getting used to a new normal. Correction: Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index.

Persons: Craig Lazzara, It's, Hannah Jones Organizations: Midwest Locations: U.S, Chicago, Cleveland, New York, Seattle, San Francisco

Search resuls for: "Rust Belt"

25 mentions found