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☆ Ashley Biden diary thief arrested in Georgia on weed, other charges the day before jail surrender date
▼ + stars: | 2024-07-10 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A Florida woman was arrested Monday in Georgia on motor vehicle, marijuana, and other misdemeanor state charges just one day before her scheduled voluntary surrender to begin a monthlong jail term for stealing and selling the diary of President Joe Biden's daughter Ashley Biden, prosecutors revealed in a New York federal court filing. Harris, 42, was sentenced in April to one month in jail and three months of home detention. She had been scheduled to surrender Tuesday at noon to begin serving her jail sentence. "The defendant is currently in state custody in connection with those charges." The arrest report, obtained by CNBC by the McIntosh County Sheriff's Office, shows that Harris was arrested at 11:30 p.m.

Persons: Joe Biden's, Ashley Biden, Aimee Harris, Harris, Ashley Biden's, Laura Taylor Swain, Swain Organizations: U.S . Bureau, Prisons, Attorney's, CNBC, Sunday Locations: Florida, Georgia, New York, Palm Beach, U.S, Manhattan, McIntosh County , Georgia, McIntosh, Darien, Carolina

☆ Nearly half of Gen Zers get help from the bank of mom and dad, report finds
▼ + stars: | 2024-07-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowTo keep up with the high cost of living, many young adults turn to a likely safety net: their parents. "The high cost of living is certainly impacting Gen Z," said Holly O'Neill, president of retail banking at Bank of America. The financial institution polled more than 1,000 Gen Z adults in April and May. Even compared with millennials, Gen Zers are spending significantly more on necessities than young adults did a decade ago, other reports show. Fewer Americans feel financially comfortable overallBut it's not just Gen Z struggling.

Persons: Zers, —, Holly O'Neill, millennials, Gen Zers, homeownership, Brett House, O'Neill, Z, it's, Bankrate Organizations: Bank of America, New York Fed, Columbia Business School, Finance

☆ A Texas Gen Xer explains why he regrets going to college in his 40s
▼ + stars: | 2024-07-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewIn 2018, at age 40, Kenneth Ferraro decided to pursue a college degree for the first time. Ferraro, who's based in Texas, had worked as a truck driver for decades, he told Business Insider via email. The perceived benefits of a college degree have led more Americans to go back to school later in life. Related storiesFerraro shared the biggest challenges he's faced in his job search, including why he thinks having a college degree has sometimes worked against him. While having a college degree improved his credentials, he thinks his age has held him back in the job market.

Persons: —, Kenneth Ferraro, Ferraro, who's, Ferraro's, he's, it's, " Ferraro, wasn't Organizations: Service, Business, New York University, Bureau of Labor Statistics, National Center for Education Statistics, New York Fed Locations: Texas

☆ Fed Chair Powell talks up progress on inflation but says rate cuts not imminent yet
▼ + stars: | 2024-07-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

However, central bank officials still want to see more progress before cutting interest rates, he noted. “The most recent inflation readings, however, have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” he added. Fed officials expect to cut interest rates just once this year, according to their latest economic projections in June, compared to the three cuts they forecast in March. The annual PCE inflation rate registered at 2.6% in June, down slightly from 2.7% in May. Fed officials and most economists don’t see a recession this year.

Persons: Jerome Powell, ” Powell, Powell, Inflation, John Williams, ” Seema Shah Organizations: Washington CNN, Inflation, Committee, Financial, ” New York Fed, Congress, Fed, Asset Management Locations: India, United States

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ Money problems can be an early sign of dementia
▼ + stars: | 2024-07-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

When a family member who has been fairly responsible with money all their lives becomes careless with their finances, it may be one sign of as-yet-undiagnosed dementia. “The harmful financial effects of undiagnosed memory disorders exacerbate the already substantial financial pressure households face upon diagnosis,” the researchers wrote. Two parents with dementia, one daughter’s efforts to reduce financial worryJayne Sibley, who lives in the United Kingdom, knows the pain and stress of dealing with the financial behaviors that can signal dementia. Her mother also would take money out of the cash machine two to three times a day and give it to anyone who asked. Of course, no amount of advanced financial planning can alleviate the heartbreak of watching a loved one with dementia decline.

Persons: Marcey Tidwell, ”, Tidwell, Karen Lemay, “, Lemay, hadn’t, ” Lemay, Jayne Sibley, ” Sibley, Sibley, doling, Ditto, ’ ”, ” Tidwell Organizations: New, New York CNN, New York Federal Reserve, Johns Hopkins Bloomberg School of Public Health, US National Institute, Aging Locations: New York, Bloomington , Indiana, Ottawa, Canada, United Kingdom, Sibley

☆ Stocks will struggle and a recession is on the table if the Fed fails to cut rates by September, Wharton professor Jeremy Siegel says
▼ + stars: | 2024-07-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The rally in stocks could be endangered if the Fed doesn't cut rates soon, Jeremy Siegel warned. The Wharton professor made the case for the central bank to cut rates in September as data softens. AdvertisementThe rally in stocks and the strength of the economy is at risk if the Fed doesn't start cutting interest rates soon, according to Wharton professor Jeremy Siegel. No rate cut in September could put a recession on the table, Siegel warned, in addition to endangering the trajectory for stocks. Advertisement"So although I think stocks are still in an uptrend and the growth stocks are still certainly walloping the value stocks, I think Powell has to take note," Siegel said.

Persons: Jeremy Siegel, Wharton, —, who's, Siegel, Powell Organizations: Service, CNBC, Atlanta Fed, New, Fed

☆ Ron Insana: Why this jobs report should spur the Fed to cut rates in July
▼ + stars: | 2024-07-05 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

It's time for the Fed to cut rates at the end of July. Add to that the moderation in the consumer price index , the producer price index and the personal consumption expenditures price index – the Fed's preferred inflation gauge – and the need to wait for further signs of improvement seems like overkill. Also, if the Fed dials back policy later – rather than sooner – there will be claims of political interference if it cut rates immediately before the presidential election. The central bank has been dealing with an economy-crashing pandemic, a surge in prices and uncertainty over how its policies would affect the broad economy, inflation and consumer behavior over time. This is a factor that will likely drive inflation rates lower.

Persons: Adrian –, –, Mickey, Dow Jones, Joe Biden, Adrian . Go, Ron Insana Organizations: Federal Reserve, Fed, Dow, New York Federal, Atlanta, CNBC

☆ US employers want more part-time workers. Here’s what that means
▼ + stars: | 2024-06-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

“So far, the labor market has adjusted slowly, and the unemployment rate has only edged up. The industries that were most likely to advertise part-time work as of May were beauty and wellness; personal care and home health; retail; food preparation and service; and sports, Indeed said. During the Great Recession from 2007 to 2009, part-time work rose sharply, according to research from the San Francisco Fed. “There was this rise in part-time work when the economy and the labor market were doing well coming out of the pandemic,” Culbertson told CNN. The US Labor Department releases June figures gauging the state of the labor market, including monthly job growth, wage gains and the unemployment rate.

Persons: Mary Daly, ” Daly, Daniel Culbertson, ” Culbertson, Alicia Wallace, Friday’s, Jerome Powell, John Williams Organizations: CNN Business, Bell, Washington CNN — Companies, Labor Department, Federal Reserve, San Francisco Fed, Commonwealth Club World Affairs of, CNN, Commerce Department, Commerce, P Global, Institute for Supply Management, European Central Bank, US Labor Department, Constellation Brands, Constellation Brands . New York Fed, US Commerce Department, New York Fed Locations: Washington, Commonwealth Club World Affairs of California, Constellation Brands .

☆ David Einhorn is suing the former employee who claimed to be his head of macro. Here are the most eye-catching parts of Greenlight's lawsuit.
▼ + stars: | 2024-06-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +8 min

Read previewDavid Einhorn warned James Fishback he was on "thin ice" less than a year after hiring him. Einhorn's firm, Greenlight Capital, is suing his former analyst, Fishback, Tuesday evening in New York. Advertisement"And, since he had absolutely no authority or discretion whatsoever over Greenlight's macro investment portfolio, he was not responsible for generating any profits, let alone 'over $100 million' of profits." Threats to disrupt Greenlight's partner dinnerThe suit claims Fishback threatened to stand outside Greenlight's annual gathering of investors and service providers with letters that "maliciously and disingenuously called into question Greenlight's macro investing abilities." AdvertisementThe review showed that Fishback had "almost no work files saved on Greenlight's network drive, and had engaged in very little activity on Greenlight's computer system.

Persons: —, David Einhorn, James Fishback, Fishback, Greenlight, Greenlight — Fishback, Azoria, Fishback's, Bari, Einhorn Organizations: Service, Greenlight, Business, Azoria Partners, Citi Locations: New York, Greenlight

☆ Fed officials are talking down the chance of rate cut this year
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

London CNN —At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. The labor-force participation rate has leveled off after a post-Covid boom, and the US immigration policy rate may soon become more restrictive, limiting potential new labor market participants. “Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2% over the longer run.”Investors weren’t happy to hear it. That’s why not taking preemptive action when it’s not necessary is so important.”Chicago Fed President Austan Goolsbee has also been particularly hawkish in his views. He also said rate hikes are “certainly not off the table.”Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.

Persons: Michelle Bowman, she’s, ” Bowman, Bowman, ”, Dow, Mary Daly, Daly, ” Daly, “ We’re, it’s, Austan Goolsbee, Goolsbee, Neel Kashkari, John Williams, he’s Organizations: London CNN —, Federal Reserve, Exchange, London ., Federal, Market, Nvidia, San Francisco Fed, Commonwealth Club World Affairs of California, Chicago Fed, Minneapolis, Kashkari , New York Fed, Commerce Department Locations: London, San Francisco, Kashkari , New

☆ Americans' spending patterns are flashing a warning of a possible consumer-led recession
▼ + stars: | 2024-06-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Read previewAmerica's stimulus-fueled shopping spree looks just about over — and lower spending could be a signal that a consumer-led downturn is on the horizon, economic experts say. Retail spending ticked 0.1% higher in May, but sales volume has dropped 1.3% year-over-year over the last three months, US Census data shows. That adds to a 4% decline in retail sales in the first quarter — and it's a strong sign the long-awaited consumer recession is on the horizon, economist David Rosenberg said recently. "Early signs of a consumer recession finally coming to the fore." AdvertisementThe US has 52% chance of slipping into recession by May of next year, according to projections from the New York Fed.

Persons: —, David Rosenberg, Stephanie Pomboy, Ian Shepherdson Organizations: Service, Business, McKinsey, Deutsche Bank, Consumer, Federal Reserve, New York Fed, Pantheon Macroeconomics

☆ America’s top central banker says the job market is back to normal. Is that true?
▼ + stars: | 2024-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? Why is the job market slower now? The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.

Persons: Washington CNN —, “, Jerome Powell, Powell, it’s, Bell, Julia Pollak, they’re, They’re, Olesya Dmitracova, Emmanuel Macron, Read, Patrick Harker, Lisa Cook, Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem, Goolsbee Organizations: CNN Business, Bell, Washington CNN, Fed, Labor, EU, National, New York Fed, Manufacturing Index, Reserve Bank of Australia, US Commerce Department, Federal Reserve, National Association of Home Builders, Accenture, Kroger, Darden, Bank of England, US Labor Department, Philadelphia Fed, Richmond Fed, Global, National Association of Realtors Locations: Washington, France, Wells Fargo

☆ New college graduates are stepping into a tougher job market. It could set their earnings back for years.
▼ + stars: | 2024-06-15 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +9 min

New college graduates are having a harder time finding work, and as a result, some of them could see their careers and earnings take a hit for years. Meaning that recent college graduates have been more likely to be unemployed than the broader population. This new normal has worked out OK for some Americans, but it's been particularly tough on new college graduates. While the tough job market could temporarily hurt some young graduates' earnings, there's reason to be optimistic that their finances could eventually recover. But if the job market continues to prove frustrating, some of them may begin to wonder.

Persons: Lohanny Santos couldn't, Zer, Santos isn't, overqualified, millennials, Gen Zers aren't, Julia Pollak, ZipRecruiter, it's, — aren't, they'd, —, grads —, Goldman Sachs, Elise Peng, Louis, who's Organizations: Service, Business, New York Fed, NY Fed, Meta, Rice University's, Bloomberg, LinkedIn, National Association of Colleges, Glass Institute, Strada Education Foundation, Federal, Louis Fed

☆ The good economic news this week was just that … good news
▼ + stars: | 2024-06-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —“Good news is bad news” has been a common refrain for a while now. When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. And more good news is likely on the way this next week and later this month, Brusuelas said.

Persons: CNN —, ”, Joe Brusuelas, —, ” Brusuelas, spoilsport, Price, ” Chris Rupkey, “, ” Rupkey, Brusuelas Organizations: CNN, Federal Reserve, RSM US, New York Fed, National Federation of Independent, Consumer, Index, BLS, Price, FwdBonds, CPI, PPI

☆ Why the Fed's rate-cutting agenda could spark a recession, according to top economist Mohamed El Erian
▼ + stars: | 2024-06-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Read previewThe Federal Reserve's path of rate cuts could be what ends up causing a US recession, according to top economist Mohamed El-Erian. Elevated interest rates could cut into economic activity and employment, Powell said at a press conference on Wednesday. At this point, the economy faces a bigger risk of recession than rampant inflation, El-Erian suggested. The recession outlook remains mixed, given the cocktail of tight financial conditions and resilient economic growth so far. According to New York Fed economists, the US has a 52% chance of slipping into recession by May next year.

Persons: —, Mohamed El, Erian, Powell Organizations: Service, Business, Fed, Yahoo Finance, San Francisco Fed, New York Fed, Consumer Locations: El

☆ Wall Street’s facing an economic double-whammy this week
▼ + stars: | 2024-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Despite the rare event, it’s unlikely the stock market will swing widely because of the economic two-fer, some investors say. Inflation showed signs of cooling in April after staying worryingly warm during the first quarter of this year. America’s rural hospitals keep getting attacked by cybercriminals. Microsoft said in a statement to CNN that it would provide free security updates for eligible rural hospitals, as well as security assessments and training for hospital staff. Google will provide free cybersecurity advice to rural hospitals and start a pilot program to match the firm’s cybersecurity services with the needs of rural hospitals.

Persons: Powell, ”, Dave Sekera, Alicia Wallace, Sean Lyngaas, Michelle Watson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, CPI, Bank of America, Morningstar, Investors, Traders, Fed, UBS, Federal Reserve Bank of New, The, Consumer, cybercriminals, Microsoft, Google, White, CNN, White House National Security Council Locations: New York, pare, Federal Reserve Bank of New York, York, United States

☆ The Fed is winning its battle against inflation. So why isn’t it cutting rates?
▼ + stars: | 2024-06-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

That’s why it is crucial for central bankers to insist on 2%. “By communicating an explicit inflation target — and then delivering inflation consistent with that target — central banks earn credibility with the public,” New York Fed President John Williams said in a recent speech. Stripping away highly volatile categories such as food and energy — a measure referred to as “core” inflation — won’t quell central bankers’ concerns. The Fed can’t ignore CPIAlthough CPI isn’t the inflation gauge the Fed targets, central bankers don’t write it off. It was, however, welcome news to Fed officials that Consumer Price Index-measured inflation fell to 3.4% in April from 3.5% in March.

Persons: Frank Robinson, “, they’re, Jerome Powell, ” Powell, Ben Bernanke, they’ll, John Williams, hasn’t, ”, Tom Barkin, don’t, Christopher Waller Organizations: New, New York CNN —, Federal, Fed, New York Fed, ” New York Fed, ” Richmond Fed, CPI Locations: New York

☆ Hunter Biden was always doomed to lose his trial. His best bet is appealing a 'vindictive prosecution.'
▼ + stars: | 2024-06-11 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Related VideoIn his opening statement at the trial, Biden's lawyer Abbe Lowell urged jurors in the Wilmington, Delaware, federal court to acquit his client. "They know how to put on a tight gun case." Biden's trial was not necessarily a lost cause. Hunter Biden's lawyers have argued this arrangement has perversely allowed Weiss to politicize the proceedings unchecked. This story was updated following the jury verdict in Hunter Biden's gun trial.

Persons: —, Hunter Biden, Biden, Abbe Lowell, Prosecutors, Sarah Krissoff, didn't, Maryellen Noreika, Donald Trump, Lowell, Jared Kushner, Sen, Robert Menendez, John Edwards —, Joe Biden, ROBERTO SCHMIDT, David Weiss, General Merrick Garland, Weiss, Hunter Biden's, Noreika, Trump, Republicans gloated, Hallie Biden, Cozen O'Connor, Duncan Levin, Levin, He's, Krissoff, Evelyn Hockstein, Neama Rahmani, Rahmani Organizations: Service, Business, Alcohol, Tobacco, Firearms, Explosives, AFP, Getty, Trump, Justice, Republicans, Biden's, US, BI, Republican, U.S, U.S . Department of Justice, Hill, REUTERS, Justice Department, West, Creative Locations: Wilmington , Delaware, Manhattan, Delaware, California, New York, Texas

☆ Menendez attorneys grill star witness in bribery trial about alleged payoffs
▼ + stars: | 2024-06-11 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., June 11, 2024. Defense attorneys on Tuesday scrutinized the credibility of the star witness in the federal corruption trial of Sen. Robert Menendez, D-N.J., after he testified that he bribed the embattled lawmaker and his wife. The witness, Jose Uribe, was one of three New Jersey businessmen who were originally charged in the case along with Menendez and his wife, Nadine Menendez. "That was my promise to her so she could get the car and comply with the deal," Uribe testified Monday. On cross-examination Tuesday, an attorney for Menendez co-defendant Wael Hana sought to undermine Uribe's testimony, NBC News reported.

Persons: Robert Menendez, Sen, Jose Uribe, Menendez, Nadine Menendez, Uribe, Nadine, Wael Hana, Ricardo Solano, Solano Organizations: Federal Court, Benz, Prosecutors, NBC News Locations: Jersey, New York City, U.S, New York, New Jersey

☆ Americans are feeling rosier about their finances, the stock market and inflation’s decline
▼ + stars: | 2024-06-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

The New York Fed’s May Survey of Consumer Expectations showed improvement of people’s perceptions of their current financial situation as well as their outlook for a year from now. Households’ expectations for highest US stock prices improved to a three-year high. In May, home price expectations were still high, unchanged from the month before; however, inflation expectations dipped — and that’s a good sign for the Federal Reserve. Monday’s survey showed that the three- and five-year inflation expectations were unchanged. When the April CPI showed inflation on a cooler trajectory than it had started the year, the major US stock indexes all surged to record highs.

Organizations: CNN, Federal Reserve Bank of New, The, Consumer, Survey, Federal Reserve Locations: Federal Reserve Bank of New York, York

☆ Fed policy hasn't cooled the labor market and a 'serious consumer recession' could strike if services jobs tumble, real estate billionaire Barry Sternlicht says
▼ + stars: | 2024-06-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe Federal Reserve's aggressive inflation fight hasn't worked to cool off the job market, and the central bank risks sparking a "serious" downturn for US consumers, according to real estate billionaire investor Barry Sternlicht. Sternlicht said high interest rates haven't loosened the job market even in the most rate-sensitive areas like construction. Related storiesJobs in the healthcare industry have climbed 1.4 million since March 2022, the month the Fed first began raising interest rates. The Fed keeping interest rates higher for longer risks further weakening the job market. Other Wall Street forecasters have been warning of the risk of recession, especially as interest rates look poised to stay higher for longer.

Persons: —, hasn't, Barry Sternlicht, Sternlicht, Jerome Powell, He's Organizations: Service, Starwood Capital, Business, Fed, Bureau of Labor Statistics, CNBC, Challenger, New

☆ Hunter Biden may be doomed to lose his trial. His best bet is appealing a 'vindictive prosecution.'
▼ + stars: | 2024-06-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

"They know how to put on a tight gun case." Biden's trial is not necessarily a lost cause. This arrangement has perversely allowed Weiss to politicize the proceedings unchecked, Hunter Biden's lawyers argued. There's no evidence that Biden even loaded or used the gun before his brother's widow, Hallie Biden, threw it out. "Obviously, the conduct that the government ought to be addressing is whether somebody is on drugs and high while they're shooting a gun," Levin said.

Persons: —, Hunter Biden, Abbe Lowell, Prosecutors, Biden, Sarah Krissoff, didn't, Maryellen Noreika, Donald Trump, Lowell, Jared Kushner, Sens, Robert Menendez, John Edwards —, Joe Biden, ROBERTO SCHMIDT, David Weiss, General Merrick Garland, Weiss, Hunter, Noreika, Trump, Republicans gloated, Hallie Biden, Cozen O'Connor, Hunter Biden's, Duncan Levin, Levin, He's, Krissoff, Evelyn Hockstein, Neama Rahmani, Rahmani, there's Organizations: Service, Business, Alcohol, Tobacco, Firearms, Explosives, AFP, Getty, Republicans, US Justice Department, Republican, U.S, U.S . Department of Justice, Hill, REUTERS, Justice Department, West, Creative Locations: Wilmington , Delaware, Manhattan, Delaware, California, New York, Texas

☆ 3 signs the US economy is nearing a recession have flashed in the last week, SocGen says
▼ + stars: | 2024-06-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe US economy is edging precariously close to a recession, and it's flashed a handful of warning signs in just the last week that suggest a downturn is on the horizon, according to Société Générale. New manufacturing orders contracted in May, and overall manufacturing activity contracted for the 18th time over the last 18 months, according to the Institute for Supply Management. Advertisement"Although many may dismiss the importance of the manufacturing sector for the overall economy, it is undeniable that overall GDP ebbs and flows closely with it. SocGen isn't alone in sounding the alarm, and other economists say that high interest rates are finally working their way through the economy and depressing growth. New York Fed economists see a 52% chance the economy could slip into recession within the next 12 months.

Persons: —, it's, Société, Albert Edwards, " Edwards, Edwards, That's, SocGen isn't Organizations: Service, Business, Fed, Institute for Supply Management, New York Fed

☆ Making $100,000 a year might not be life-changing anymore, but 3 people share how it makes things a lot less stressful
▼ + stars: | 2024-06-01 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewWhen Joshua first earned a $100,000 salary about five years ago, it didn't impact his lifestyle much. "I wasn't able to splurge or to afford luxurious things," the 30-year-old fintech professional, who's based in Georgia, told Business Insider via email. This story is available exclusively to Business Insider subscribers. Business Insider asked three people who've made over $100,000 a year how becoming a six-figure-earner did — and didn't — change their lives and relationships. For many of these people, a $100,000 salary could, in fact, be life-changing.

Persons: —, Joshua, doesn't, What's, who've, Cole H, Mattes, it's, ALICE, Maksim Sonin, — he's, he's Organizations: Service, Business, New York Fed, New, Fed, eBay, Monarch Media, United, Stanford University Locations: Georgia, California

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