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Trump's proposals would dramatically worsen Social Security's finances, a nonpartisan budget group is warning. The group predicts Trump's agenda would push up Social Security insolvency by 3 years. Harris' proposals would have little impact on Social Security's insolvency timeline, the group says. AdvertisementThe Social Security and Medicare Boards of Trustees estimated that the fund would run out a year later, in 2035. President Trump delivered on his promise to protect Social Security in his first term, and President Trump will continue to strongly protect Social Security in his second term," Leavitt said in the statement.
Persons: Harris, , Trump, Trump's, wouldn't, nominee's, that's, Karoline Leavitt, Leavitt, Kamala Harris, CRFB's, Marc Goldwein, Xers, they're Organizations: Social, Service, Federal, Social Security, Congressional, Office, Security, Trump, Republican, Business, Democratic, Washington Post
AdvertisementI'd landed an easy job at Amazon, which I hadn't known existedI hadn't planned to coast when I'd changed teams. Within a month, I realized I'd landed in something I hadn't known existed at Amazon: an easy job. I also realized I liked having an easy job. In my "easy" role, I developed those core strengths even further and pursued new skills as complements. I no longer assumed that hard work had to mean struggle or fear of inadequacy.
Persons: Kristi Coulter, , I'd, who'd, strode, sunnier, Amazon, She'd, downshifting Organizations: Amazon, Service, VP Locations: Seattle
Mortgage rates dropped a lot over the last few months in response to what appeared to be cooling in the labor market. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. You can calculate this by dividing your closing costs by the amount you're saving on your monthly mortgage payment. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.
Persons: they've, Freddie Mac Organizations: Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed Locations: U.S, Chevron
She and Nym CEO Harry Halpin said they avoid Google and Microsoft products over security concerns. In her consulting role, she assesses clients' data privacy practices and makes recommendations to improve their security. Advertisement"I'm not saying that you have to go out and buy an iPhone or Apple products — I have no investment in Apple," Manning told BI. Halpin is a cryptographer and former senior research scientist at MIT, who said he also avoids Microsoft and Google products because of his concerns about keeping his data secure. Related storiesMicrosoft, Google, and Apple representatives did not respond to requests for comment from Business Insider about this story.
Persons: Chelsea Manning, Harry Halpin, , Chelsea Manning —, Manning, Obama, doesn't, Nym's, Halpin, Chris Hauk, Dinesh Besiahgari, Besiahgari, it's, " Halpin Organizations: Google, Microsoft, Service, Army, Apple, MIT, Business, Trust, Security, Amazon Web Services
CNN —Researchers have discovered a distant disc galaxy that has surprisingly similar characteristics to our own Milky Way, and it could change our understanding of how galaxies form. Early galaxies tend to join together and develop smoother shapes incredibly slowly, with our Milky Way taking billions of years to develop tidy structures, the researchers said. The rotation and structure of the galaxy were observed using the Atacama Large Millimeter/submillimeter Array (ALMA) telescope in northern Chile. “Finding further evidence of more evolved structures would be an exciting discovery, as it would be the most distant galaxy with such structures observed to date,” Rowland said. “ALMA also reveals details finer than earlier telescopes.”Blain said more research is needed before scientists change their understanding of galaxy formation.
Persons: Chile Alberto Pena, Jacqueline Hodge, ” Lucie Rowland, ” Rowland, Andrew Blain, , ” Blain, ALMA, ALMA there’s, , “ ALMA, Dave Clements, that’s Organizations: CNN —, Leiden University, Getty, University of Leicester, CNN, Imperial College London, Royal Astronomical Society Locations: Netherlands, Chile, AFP
Thai central bank unexpectedly cuts key rate by 25 basis points
  + stars: | 2024-10-16 | by ( ) www.cnbc.com   time to read: +1 min
Growing political pressure aside, Thailand's weak economy adds to the case for the central bank to cut interest rates sooner rather than later, according to money managers. Thailand's central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government as needed to revive a sluggish economy with inflation below target. The Bank of Thailand's monetary policy committee voted 5 to 2 to reduce the one-day repurchase rate by 25 basis points to 2.25%, after the rate had been a decade-high of 2.50% since September 2023. The previous change in policy was a 25 basis point rate rise in September last year. The World Bank has forecast the economy will grow 2.4% this year and 3.0% next year.
Organizations: Bank
Celebrated New York City rapper and former firefighter Ka, whose real name was Kaseem Ryan, has died, according to his social media accounts. A cause of death was not available, and a spokesperson for the New York City Office of Chief Medical Examiner did not immediately respond to a request for information. Ryan served the FDNY and the people of the city of New York with distinction for 20 years, working assignments in both the Bronx and Brooklyn," New York City Fire Department spokesperson Jim Long said by email. In a 2016 profile headline, music publication The Fader called Ka "New York Rap's Greatest Living Treasure." The announcement on Ka's Instagram page said he produced 11 albums under his name.
Persons: Ka, Kaseem Ryan, , , Capt, Ryan, Jim Long, Ferraris, Wu, Tang Clan, Roc Marciano, Jeff Weiss, hadn't, he's, Gary Grice, GZA, Mimi Valdes, Organizations: New York City, NBC News, New, Office, FDNY, Bronx and, York City Fire Department, Ka's, York, Pitchfork, Brooklyn Locations: Brownsville, New York, Bronx and Brooklyn, York City, Tang, GZA
AdvertisementIn 2014, I started my career at AmazonI started at Amazon as a senior launch manager in the grocery delivery space. So, I left Amazon to work in HR at Blue Origin, another Jeff Bezos company. Previously in my career at Amazon, I had managed a maximum of three to four indirect reports. Although it was hard, I became a better manager, a better communicator, and a more creative and organized leader. My work felt bureaucratic, and I was so focused on staying on top of each little task that I wasn't contributing to things that were moving the needle.
Persons: Yvonne Lee, Hawkins, , It's, I'd, Jeff Bezos, Tess Martinelli Organizations: Amazon, Service, Origin, Target, Big Tech Locations: Auburn , Washington, China, India, Europe, tmartinelli
Woman killed by malfunctioning ottoman bed
  + stars: | 2024-10-14 | by ( Issy Ronald | ) edition.cnn.com   time to read: +2 min
London CNN —A 39-year-old British woman was killed when a malfunctioning ottoman bed fell on her neck and asphyxiated her, a coroner’s report said. Ottoman beds have a base that can be raised – usually using gas-lift hydraulics – to access a storage space underneath. The mattress platform on Davey’s bed fell unexpectedly, “trapping her neck against the upper surface of the side panel of the bed’s base,” Chipperfield explained. I dropped everything that I was holding and tried to lift the top of the bed off her head. The bed was no longer a soft close and could fall heavily if it was released.
Persons: Helen Davey, , Jeremy Chipperfield, ” Chipperfield, ” Davey, Elizabeth, ” Elizabeth, , Chipperfield, Jonathan Reynolds, coroners Organizations: London CNN, Locations: England
Gold dips on firmer dollar; attention on Fed cues
  + stars: | 2024-10-14 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices eased on Monday, weighed down by a firmer U.S. dollar, while investors looked out for fresh clues on Federal Reserve interest rate cuts. Spot gold fell 0.2% to $2,651.99 per ounce by 0252 GMT after rising 1% in the previous session. The dollar index rose 0.1% on Monday, not far from a near two-month high hit last week. Traders see a roughly 89% chance of the Fed cutting rates by 25 basis points at its November meeting, and an 11% chance it will leave rates unchanged. Meanwhile, investors will watch out for comments from Fed officials this week for more hints on upcoming rate cuts, along with U.S. retail sales data.
Persons: Tim Waterer, Waterer Organizations: KCM Trade, Traders Locations: China
CNN —Federal regulators granted SpaceX its long-awaited license to move forward with a fifth uncrewed test launch of Starship, the most powerful rocket system ever constructed. The FAA had been expected to hand down a license for this test launch weeks ago. SpaceX has also publicly denied reports that the company violated wastewater regulations with the deluge system, which SpaceX says uses potable water. Notably, the company launched a 2020 test flight of a prototype rocket, called Starship SN8, without obtaining prior approval from the FAA for a public safety waiver. At one point in 2023, for example, he said that he did not blame the FAA for holding up Starship launches.
Persons: , Artemis, Elon Musk, , Mike Whitaker, Whitaker, SpaceX’s, ” Whitaker, Patrick T, Fallon, SpaceX, didn’t, Biden, Donald Trump —, Whitaker “, ” Musk, Jose Luis Magana, Kevin Kiley, they’re Organizations: CNN, SpaceX, US Federal Aviation Administration, NASA, FAA, , Super, Getty, Texas Commission, Environmental, Environmental Protection Agency, Committee, Transportation, Aviation, US, Infrastructure, Republican Locations: Boca Chica , Texas, Texas, AFP, California
“Then, later on, when we left, she was like, ‘Oh, so you like him,’” recalls Wati. “But a week later, we decided to get together on a Saturday, and we spent most of the day together,” recalls Mike. “He’d mail them to me in these little padded envelopes,” recalls Wati. “Eventually, I was able to figure out how to get some credit for doing a paper at Melbourne University in January 1989,” recalls Mike. “She would stay for about a month or a little bit more,” recalls Wati.
Persons: Mike Grossman, Mike “, Mike, , There’s, , , he’d, I’d, ” Mike, bode, Melbourne’s Monash, Wati, Yanti, Michael, nudging, ’ ”, Wati Grossman, ” Wati, Paul, Gauguin, Andrew Lloyd Webber, I’m, They’d, “ Wati, Khan ’ —, we’re, He’d, who’d, Wati’s, Boston, they’d, Wati —, Kevin Costner’s, we’d, it’s, Wati Grossman —, Levis Strauss, Alex, Talia, Mike’s, Grossman, We’ve, he’s, they’re, we’ve Organizations: CNN, CNN Travel, Harvard Law School, Melbourne’s, National Gallery of Victoria, Star Trek, , Australian Broadcasting Commission, Facebook, “ Technology, Sony, Radio, Melbourne University, Wati, Washington DC, New, Melbourne Botanic Gardens, Harvard Memorial Church, Harvard Memorial, Fashion Institute of Technology, Levis Strauss and Company Locations: Australia, Melbourne, Boston, California, San Francisco, American, Indonesian Australian, Indonesia, , Wati, Radio Australia, Christmastime, New York City, Washington, New York, Botanic, United States, Hotel, Sydney, Sydney “, Silicon Valley, In California
South Korea's central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022. This was in line with a poll of economists from Reuters, who forecasted a rate cut. At that time, South Korea's inflation stood at 2.6%, but climbed sharply to hit 6.3% in July 2022, its highest in over 20 years. Oh noted that macro conditions are supportive of a rate cut, with a "favourable" inflationary backdrop. Oh predicts that after the October cut of 25 basis points, three more consecutive cuts will follow on a quarterly basis, eventually bringing the BOK's benchmark interest rate to 2.5%.
Persons: BOK, Morgan Stanley's, Kathleen Oh, We've, Morgan Stanley Organizations: Bank of, Federal Reserve, Reuters Locations: Bank of Korea, Seoul, Korea's, Korea
September's robust job growth signaled what looks like a booming labor market. In general, the job market is booming. There's some tension hiding in the dataOn its face, the labor market is looking rosy. Job openings ticked up in August but have been broadly declining since 2022, adding to the tough labor market picture for job seekers. Related storiesEven though the labor market has cooled, it's largely done so without mass layoffs or a full-blown recession.
Persons: , ​ ​ Cory Stahle, they're, Liz Wilke, Elizabeth Renter, Matt Colyar, Claudia Sahm, Julie Su, Wilke, It's Organizations: Service, Workers, Moody's, New Century Advisors, mhoff
Hurricane Milton leaves a trail of destruction in Florida. Milton sweeps through Florida after a destructive landfallFlorida communities are waking up to destruction left by Hurricane Milton as the storm tore through the state — the second major hurricane to hit in two weeks. More Hurricane Milton coverage:Milton intensified at one of the fastest rates in recorded history. ➡️ An NBC News poll found Harris and Trump voters see their candidates representing “change” but in very different ways. The iconic Tropicana casino was imploded to make way for a proposed $1.5 billion stadium to house the Oakland Athletics ahead of the team’s planned move to Sin City in 2028.
Persons: Milton, Hurricane Milton, Sheriff Keith Pearson, ” Pearson, , Tom, Helene, Dan ”, Hurricane Helene, Dow Jones, pare, Nasir Ahman Tawhedi, Tawhedi, Biden, Harris, Donald Trump riled, Kamala Harris, Trump, Marxist ”, ” Trump, “ Somebody, , , ➡️ Trump, ➡️ Harris, Glock, Josh Shapiro, Elon Musk, Kari Lake, Ruben Gallego, Maya Huter, — Rich Bellis, you’re, Elizabeth Robinson Organizations: CIA, Las, Hurricane, Field, Tampa Bay Rays, West Palm Beach, Florida National Guard, Hurricane Milton, NBC, Federal, Wall Street, FBI, U.S ., ISIS, Republican, Trump, Harris Former, Marxist, Democratic Party’s, ➡️, Democratic Rep, Arizona Senate, Tropicana, Oakland Athletics, Sin City, Walmart Locations: Florida, An Afghan, Milton, Siesta, St . Petersburg, West Palm, Lucie County, U.S, Tampa, Hurricane, Afghanistan, Scranton , Pennsylvania, Harris, Scranton, Colorado , California , Illinois, New York, Pennsylvania, Arizona, Sin
Ahead of the latest monthly inflation reading, consumers are still coming to terms with the sticker shock of everyday goods and services prices — and lingering uncertainty about the economy. The pace of consumer price growth was expected to have remained largely unchanged in September, according to Dow Jones estimates. Harris has narrowed the gap in some surveys about which presidential candidate would be better on economic issues, but Trump still leads on that metric. Analysts generally agree that’s a sign the economy remains on solid footing, at least according to the data. Today’s inflation numbers could cause Wall Street to pare back expectations of an interest-rate cut at the Federal Reserve’s next meeting in November.
Persons: Dow Jones, Donald Trump, Kamala Harris, Biden, Trump, Harris, , , Bill Dunkelberg Organizations: Democratic, University of Michigan Consumer Survey, Biden, AAA, Federal, National Federation of Independent Locations: November’s, pare
The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The euro languished near its lowest since Aug. 13, while against the yen, the dollar hovered close to its strongest level since Aug. 15. The dollar index was little changed at 102.86 as of 0024 GMT, sticking close to Wednesday's high of 102.93. The greenback eased 0.18% to 149.035 yen , but was not far from the overnight peak of 146.365.
Persons: Kyle Rodda, , Rodda, Mary Daly Organizations: U.S ., Federal Reserve, Reuters, U.S, CPI, Francisco Fed, Traders, New Locations: U.S
The unexpectedly hot inflation reading complicates the prospect of further rate cuts from the Fed. This index was expected to see a year-over-year increase of 2.3%, a cooler rate than August's 2.5%. The surprisingly hot inflation reading is a sign that the economy is running strong, and complicates the Fed's next rate decision, since in theory higher inflation would make further cuts less likely. AdvertisementThat could be because the market also digested weekly jobless-claim figures that came in higher than expected. Following a surprisingly strong September jobs report, speculation rose that the Fed might slow its pace of rate cuts — or even stop them altogether.
Persons: Organizations: Service Locations: mull
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Both West Texas Intermediate and Brent futures retreated 4.63% during U.S. trading hours Tuesday, halting the red-hot rally oil prices have experienced the past week. The central bank's likely to make another half-point cut in November, Paul Bloxham, HSBC's chief economist for Australia and New Zealand, told CNBC. On the back of such turbulence, CNBC Pro asks two strategists whether now's the time to invest in China.
Persons: It's, Paul Bloxham, HSBC's Organizations: Central, CNBC, Technology, Nasdaq, Google, U.S . Department of Justice, U.S, The New York Times, West Texas Intermediate, Brent, Reserve Bank of New, CSI, CNBC Pro Locations: New York, United States, Jerusalem, Israel, Zealand, Reserve Bank of New Zealand, Australia, New Zealand, China
AdvertisementThen hurricane season went quiet. There were no named storms between August 13 and September 3 — typically around when hurricane season is reaching its peak. CHANDAN KHANNA/Getty ImagesAt the start of the Atlantic hurricane season in June, NOAA predicted up to 13 hurricanes by the season's end. Joe Raedle/Getty ImagesThis year's unusual hurricane season may be a sign of things to come. AdvertisementRosencrans said that there's a large window for peak hurricane season, and the peak varies each year.
Persons: Milton, We've, Hurricane Milton, Hurricane Helene, Kelly Núñez Ocasio, What's, Debby, Ernesto, Hurricanes Helene, Niña, it's, Matthew Rosencrans, CHANDAN KHANNA, Rosencrans, Stephanie Zick, It's, Núñez Ocasio, Helene, Joe Raedle Organizations: NOAA, Service, Atlantic, Texas, University's Department, Atmospheric Sciences, Atmospheric Administration, Hurricanes, Colorado State University's Department of Atmospheric, Virginia Tech's Department of Geology Locations: Hurricane, Florida, Pacific, Florida's, Bend, Gulf of Mexico, Caribbean, Hurricane Milton, Gulf, St, Petersburg , Florida
US stocks traded mixed as investors looked ahead to the central bank's meeting minutes. Traders are anticipating a quarter-point rate cut in November. Monetary policy is in focus after an unexpectedly hot job report in September, fueling doubt over whether the Fed will issue another jumbo rate cut this year. "The tone of the Fed minutes should not change expectations of further rate cuts—the Fed is still scrambling to catch up with inflation slowing in the US, and started cutting rates late. AdvertisementAccording to Pantheon Macroeconomics, the Fed is more likely to begin cutting rates in 25-basis-point increments rather than issuing another 50-basis-point rate cut.
Persons: , Paul Donovan Organizations: Service, Reserve, UBS Global Wealth Management, Pantheon, Fed, US Department of Justice
A security guard stands in the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. New Zealand's central bank has slashed its benchmark interest rate by 50 basis points after its monetary policy meeting, marking a second straight cut to its benchmark interest rate. The cut brings the Reserve Bank of New Zealand's interest rate to 4.75% from 5.25%. The central bank said at the time that the pace of further easing will depend on how confident it is about a low inflation environment. New Zealand's annual inflation rate hit 7.3% in the June quarter 2022, its highest level in over three decades.
Organizations: Reserve Bank of New, Reuters Locations: Reserve Bank of New Zealand, Wellington , New Zealand, New
Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.
Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest
ESPN replaced retired NBA reporter Adrian Wojnarowski with Shams Charania. AdvertisementAs many basketball fans have likely heard, the latest major NBA signing is Shams Charania to ESPN. The 30-year-old scoop master is replacing Adrian Wojnarowski, the genre-defining NBA reporter who had unexpectedly retired from the news-breaking business three weeks earlier. "It felt like it was a perfect way to solve this problem," said Burke Magnus, ESPN's head of content, in an interview with Business Insider on Wednesday. In the last few months, veteran NBA reporter Zach Lowe, host Samantha Ponder, and analyst Robert Griffin III each were let go.
Persons: Adrian Wojnarowski, Shams Charania, Burke Magnus, , Charania —, ESPN's, wasn't, Wojnarowski, Magnus, Jeff Passan, Jeff, Charania, he's, he'll, Stephen A . Smith, Pat McAfee, Dave Roberts, Howard Cosell —, Mike Greenberg, that's, Stephen A, Zach Lowe, Samantha Ponder, Robert Griffin III, we're Organizations: ESPN, Service, NBA, Athletic, Yahoo Sports, Business, Sports News, Entertainment
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Inspired by his career change, I decided it was time for my own career change. My first position in my brand-new career began as a substitute teacher in the elementary school I attended as a child. AdvertisementTeaching was one of the hardest things I've doneWhen I state that teaching sixth grade was one of the hardest things I had to do, it's no exaggeration. In my fourth year of education, I've found myself working in a great elementary school with an equally wonderful staff and an administration that appears to appreciate my work.
Persons: , hadn't, I've Organizations: Service
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