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☆ A guide to the wild week of trading, from Monday's 'flash crash' to the yen to the volatility spike
▼ + stars: | 2024-08-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

.VIX YTD mountain Cboe Volatility Index in 2024 That is literally what the VIX measures: expectations for volatility over the next 30 days. Was Monday a 'flash crash'? A "flash crash" is a sudden and severe price drop that lasts for a very short period, usually a few hours. "It appears that the sell-off of August 5th qualified as a flash crash, although it was rather modest by historical standards," he told me. During the 1987 flash crash, Higgins said an investor was trying to orchestrate trades on the phone while he was preparing to go to his relative's funeral.

Persons: Jamie Dimon, Alec Young, haven't, Mark Higgins, Higgins Organizations: Bank of Japan, Yen Trust, JPMorgan Chase, Fund, Dow Jones Locations: Japan, backwardation

☆ What goes on behind the scenes in the most formidable alliance in the nerdworld business
▼ + stars: | 2024-08-05 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

At the time, "Critical Role" — the "D&D" Twitch stream that turned the company Mercer co-founded into a key player in the nerdworld business — was just taking off. Advertisement"There's love at first sight, and this is one of those variations," Mercer told BI. These two men have now formed a formidable alliance in the nerdworld business. AdvertisementOn to 'Downfall'Mercer and Mulligan had a lot of fun crafting the world of Aeor together, they told BI. Critical RoleMulligan told BI he had long watched Critical Role, and that he got to dive deep into Mercer's lore while working on EXU Calamity.

Persons: —, Brennan Lee Mulligan, Matthew Mercer, who's, Mulligan, Mercer, gunning, Matt, it's, Aeor Mulligan, Brennan, Lee Mulligan, AeorForever, PhVFddZD4Q — Clara, they're, Essek Organizations: Service, Business, West Hollywood, Garden, Wembley Arena, Tourism Locations: Mercer, Madison, London, Los Angeles

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

☆ Here's what goes on behind the scenes in the nerdworld business' coolest alliance
▼ + stars: | 2024-08-05 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

At the time, "Critical Role" — the "D&D" Twitch stream that turned the company Mercer co-founded into a key player in the nerdworld business — was just taking off. Advertisement"There's love at first sight, and this is one of those variations," Mercer told BI. Mercer is the chief creative officer at Critical Role, working with his eight friends on everything from Amazon-backed animation series' to board game ventures. AdvertisementOn to 'Downfall'Mercer and Mulligan had a lot of fun crafting the world of Aeor together, they told BI. Critical RoleMulligan told BI he had long watched Critical Role, and that he got to dive deep into Mercer's lore while working on EXU Calamity.

☆ What to Watch as Sunisa Lee Competes in Uneven Bars Final
▼ + stars: | 2024-08-04 | by ( Juliet Macur | More About Juliet Macur | ) www.nytimes.com time to read: +1 min

Sunisa Lee, the all-around champion from the Tokyo Olympics, is the only American in the final of the uneven bars on Sunday, giving her a chance to win the gold medal after leaving Tokyo with the bronze three years ago. She nearly had her U.S. teammate Simone Biles joining her in the final, but only eight gymnasts qualified for the even, and Biles, whose weakest event is the uneven bars, finished ninth. Lee was in tears in Tokyo because she had come to win gold on the bars, her signature event. This time around, Lee — who has made a comeback after being diagnosed with two kidney diseases less than two years ago — might not win gold, either, but for different reasons. Qiu Qiyuan of China — the 2023 world champion on the uneven bars — was second, with 15.066.

Persons: Sunisa Lee, Simone Biles, Lee, Lee —, Kaylia Nemour, Qiu Qiyuan Organizations: Tokyo, New York Times Locations: Tokyo, Algeria, China

☆ Live Updates: Sunisa Lee Aims to Extend U.S. Dominance With the Uneven Bars
▼ + stars: | 2024-08-04 | by ( Juliet Macur | Maggie Astor | ) www.nytimes.com time to read: +2 min

Lee was in tears in Tokyo because she had come to win gold on the bars, her signature event. Qiu Qiyuan of China, the world champion on the uneven bars in 2023, was second, with 15.066. Here is what else to know: The uneven bars final will be begin at 3:40 p.m. Paris time. China has two gymnasts in the bars final, Qiu Qiyuan and Zhang Yihan. They have a chance to win their country’s first medal in women’s gymnastics at the Paris Games.

Persons: Lee, Simone Biles, Lee —, Kaylia Nemour, Qiu Qiyuan, NBCOlympics.com, Becky Downie, Josh, Zhang Yihan Organizations: Tokyo, New York Times, International Gymnastics Federation, Paris Games, Britain, Summer, Tokyo Games Locations: Tokyo, Algeria, China, Paris

☆ 3 reasons to worry about July’s weak jobs report — and 1 reason not to panic
▼ + stars: | 2024-08-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The Federal Reserve now has egg on its face after it kept interest rates near a quarter-century high earlier this week. By now, there’s ample evidence that the job market, a key driver of the US economy, has lost steam. Here are three reasons to be worried about July’s shockingly weak jobs report — and one silver lining. Consumer demand itself also hasn’t weakened just yet, despite the highest interest rates in more than two decades. Generally, the Fed makes its decision congruent with what’s going on with inflation or the job market.

Persons: , July’s, ’, ”, Claudia Sahm, Sahm, Elizabeth Crofoot, Alicia Wallace, Jerome Powell, ” Crofoot, ” Michael Gapen, Matt Egan, weren’t, ” Truist’s Keith Lerner, they’ll, hasn’t, ” Chris Rupkey, Alan Blinder, Paul Krugman Organizations: New, New York CNN, Federal Reserve, Fed, Bloomberg, Bank of America, Dow, Nasdaq, Wall, Investors, Labor, Citigroup, JPMorgan Locations: New York, decelerate, American

☆ 'I love my black job': Simone Biles appears to take a jab at Trump after Olympic win
▼ + stars: | 2024-08-02 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

Simone Biles loves her 'Black job.' "Simone Biles being the GOAT, winning Gold medals and dominating gymnastics is her black job," Davila wrote. "I love my black job," Biles responded, adding a black heart emoji. On Wednesday at the National Association of Black Journalists convention, Trump was asked to define what a "black job" is. "A black job is anybody that has a job, that's what it is.

Persons: Simone Biles, Donald Trump, Ricky Davila, Davila, Biles, Trump, Sen, JD Vance, Vance Organizations: National Association of Black Journalists, Tokyo Locations: Paris, U.S, R, Ohio

How Simone Biles Won the Olympic Women’s Gymnastics All-Around Gold1 USA Simone Biles 59.131 2 BRA Rebeca Andrade -1.199 points behind points behind 3 USA Sunisa Lee -2.666Simone Biles earned her sixth Olympic gold medal, and her ninth Olympic medal overall, in Paris on Thursday, clinching a win in the women’s gymnastics all-around final by more than a full point. The competition began with a commanding lead for Biles, who scored 15.766 for her namesake Yurchenko double pike, the hardest vault in the world. And Sunisa Lee, the defending Olympic all-around champion, trailed after the first three rotations but came back to win the bronze with a solid performance on floor. With Andrade at her heels, Biles took to the floor to perform the last routine of the competition. Since the first Olympic all-around competition in women’s gymnastics in 1952, only nine gymnasts had ever managed to win two medals of any color.

Persons: Simone Biles Won, Simone Biles, Rebeca Andrade, Sunisa Lee, Biles, Kaylia, Andrade, Nemour, Lee, Bedel, Jeremy White, Biles’s, Cheng, Alice D’Amato of, Simone Biles’s, Weiyi Cai, ” Biles, ”, “, ’, Scott Reinhard, “ I’m, I’ve, Joe Ward “, Larisa Latynina, Vera Caslavska, Nadia Comaneci Organizations: Sunisa, Olympic, Soviet Union, Games Locations: Paris, Brazil, Algeria, Andrade, Biles, Tokyo, Alice D’Amato of Italy, Pak salto, Italy, Soviet, Czechoslovakia

☆ Here's a non-exhaustive list of some things JD Vance said that have aged poorly
▼ + stars: | 2024-08-01 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewSen. JD Vance of Ohio said several inflammatory things in the past, and some of it's coming back to haunt him. AdvertisementOn a Fox News "Outnumbered" episode from 2021, Vance said that the media had turned the news of Biles quitting the Olympic team "into this act of heroism." Remember when JD Vance called Simone Biles weak when she withdrew from the Tokyo Olympics? JD Vance says women who haven’t given birth like Kamala Harris are “childless cat ladies who are miserable at their own lives,” and have “no direct stake” in America. Representatives for Vance did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Sen, JD Vance, Ohio, Vance, Donald Trump, Simone Biles, Biles, WRClQiRe7k — Alex Cole, @acnewsitics, Kamala Harris, they've, 3DJY3pQTGe, Ron Filipkowski, Harris, Pete Buttigieg, Alexandria Ocasio, Cortez, — Harris, Doug Emhoff, Preet Bharara, It's, Buttigieg, Chasten —, Jon Stewart, Nancy Pelosi's, Christine Pelosi, Nikki Fried, Trump, ”, dcLZ2wNxyd — Kamala, sociopaths Organizations: Service, Business, Tokyo, Fox News, Democratic, Fox, Transportation, US, The Daily, Florida Democratic Party, Representatives, Business Insider Locations: America, Alexandria, Afghanistan, —

☆ Dollar nurses losses after Fed hints rate cuts on the way; yen firms
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +3 min

Markets have been fully pricing in a 25 basis points of rate cut in September for some time and added to wagers of the Fed going big even after Powell said policymakers are not thinking about a 50-basis-point interest rate cut "right now." Goldman Sachs strategists said Powell comments suggest the bar is not very high for a rate cut in September. The dollar index , which measures the U.S. currency against six peers, was little changed at 104.02, having dropped 0.38% on Wednesday. But the BOJ seem keen to get interest rates up and normalize policy. It probably leads to more yen strength, but it could weigh on the local economy and equity markets."

Persons: Jerome Powell, Powell, Goldman Sachs, Kazuo Ueda, Ben Bennett Organizations: U.S, Federal Reserve, Bank of Japan, The U.S, Fed, Traders, Reuters, Bank of England, Legal, General Investment Management Locations: The, Japan, Asia, Pacific

☆ The number of available jobs in the US is shrinking
▼ + stars: | 2024-07-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

That’s according to the latest Labor Department data on job openings, which edged back slightly in June. The monthly Job Openings and Labor Turnover Survey also showed that hiring activity sank, layoffs were muted and the number of people quitting their jobs hit a three-year low, according to data released Tuesday. In June, employers posted an estimated 8.18 million jobs, a total that was higher than what economists expected but marking a slight step back from the upwardly revised tally of 8.23 million openings in May. It’s the second-lowest monthly total seen so far this year. Economists were expecting job openings to shrink to 8 million, according to FactSet consensus estimates.

Persons: It’s Organizations: CNN, Labor

☆ Olympics tennis analysis: Novak Djokovic shows Rafael Nadal no mercy at Paris Games
▼ + stars: | 2024-07-29 | by ( Matthew Futterman | Charlie Eccleshare | ) www.nytimes.com time to read: +9 min

Follow live coverage of day 3 at the 2024 Paris OlympicsPARIS — Novak Djokovic dispatched Rafael Nadal 6-1, 6-4 in the second round of the 2024 Paris Olympic’s men’s singles at Roland Garros on Monday. AdvertisementDespite a stunning run of four games in the second set in which Nadal showed flashes of his old self — and exploited the scar tissue he has inflicted on Djokovic over the years — the Serbian recovered to see out the second set. In the Wimbledon final earlier this month, Djokovic had suffered at the hands of Carlos Alcaraz with the same shot. Nadal missed his forehand wide after it ticked the net, and Djokovic had the advantage he would never come close to giving up. GO DEEPER How Andy Murray survived five match points - and saved his tennis career - in ParisCharlie EccleshareWhat did Rafael Nadal say after the match?

Persons: PARIS — Novak Djokovic, Rafael Nadal, Roland Garros, Djokovic, Nadal, Charlie Eccleshare, Matt Futterman, he’d, Philippe, Juanjo Martin, Nadal’s, Marton Fucsovics, Carlos Alcaraz, Jari, Chatrier, backpedalling, didn’t, hasn’t, Andy Murray, Murray, Paris Charlie Eccleshare, Novak Djokovic, “, he’s, ”, …, wasn’t, Andrzej Iwanczuk Organizations: PARIS, Djokovic, Wimbledon, Nadal, Serbian, Getty Locations: Paris, Eurasia, Serbian

☆ Generative AI requires massive amounts of power and water, and the aging U.S. grid can't handle the load
▼ + stars: | 2024-07-28 | by ( Katie Tarasov | ) www.cnbc.com time to read: +4 min

Katie TarasovChasing powerThere are more than 8,000 data centers globally, with the highest concentration in the U.S. And, thanks to AI, there will be far more by the end of the decade. Boston Consulting Group estimates demand for data centers will rise 15%-20% every year through 2030, when they're expected to comprise 16% of total U.S. power consumption. Tench said Vantage's data centers typically have the capacity to use upward of 64 megawatts of power, or as much power as tens of thousands of homes. And as we think about AI applications, those numbers can grow quite significantly beyond that into hundreds of megawatts," Tench said . Vantage Data Centers is expanding a campus outside Phoenix, Arizona, to offer 176 megawatts of capacity Vantage Data CentersHardening the gridThe aging grid is often ill-equipped to handle the load even where enough power can be generated.

Persons: Katie Tarasov, they're, OpenAI's ChatGPT, Jeff Tench, Tench, there's, Shaolei Ren, Rahul Chaturvedi, Chaturvedi, ChatGPT Organizations: Boston Consulting, CNBC, Vantage, North, University of California, U.S Locations: Santa Clara , California, U.S, Silicon Valley, North America, Northern California, Ohio , Texas, Georgia, Phoenix , Arizona, Riverside, Virginia, San Diego

☆ My husband and I are in our 50s and child-free. We've never regretted our decision.
▼ + stars: | 2024-07-27 | by ( Shawna Kenney | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Her eyes turned to me across the table, then to her mom's, perhaps wondering if she had asked the wrong question. But a lot are," Rich answered, just about when Annabelle's little sister, 6-year-old Lily, started to melt down from the heat and the long wait. Staying child-free has allowed Shawna Kenney and her husband more time for creative pursuits. Courtesy Shawna KenneyWe've never regretted not having kidsMany said we would change our minds, yet here we are in our 50s, content with our decision.

Persons: Annabelle, Rich —, Shawna, Rich, Lily, Shawna Kenney, —, Shawna Kenney We've Organizations: Service, Business, Star Wars Locations: , CA

☆ Simone Biles ‘in a really good place’ as she prepares to further her extraordinary legacy at the Paris Olympics
▼ + stars: | 2024-07-27 | by ( George Ramsay | ) edition.cnn.com time to read: +7 min

I always rise to the occasion; even after all of the traumas and the downfalls, I’ve always risen.”Indeed, in the months leading up to the Paris Olympics, Biles has risen like never before. That medal haul could grow in Paris, where Biles is likely to compete in the women’s team event on Tuesday. The Olympics have arrived at an intriguing chapter in her career, and in Paris Biles will have the opportunity to complete an extraordinary arc of redemption. A senior member of the US team, Biles is a role model for young athletes both in and out of the gym. Above all, these Olympics are perhaps a timely reminder to enjoy the grace and genius of Simone Biles while you can.

Persons: Simone Biles, Maya Angelou, ”, “, Biles, I’ve, “ Simone, … She’s, she’s, ” Chellsie Memmel, Simone, Hannah McKay, Reuters Memmel, ” Biles, “ Simone Biles, Dominique Dawes, CNN’s Sanjay Gupta, Naomi Baker, Vitaly Scherbo’s, Wilhelm Weiler, Dawes, “ She’s, Jamie Squire, Larry Nassar – Organizations: Paris CNN —, Tokyo, Netflix, Paris, Games, USA, Olympic, Bercy, Reuters, Tokyo –, Team USA, International Gymnastics Federation, USA Gymnastics Locations: Rio, Tokyo, Paris, Biles, Antwerp, Belgium, handstand, Michigan

☆ Olympics 2024: What to watch at the gymnastics in Paris
▼ + stars: | 2024-07-27 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +5 min

Paris CNN —As competition gets well and truly underway in Paris, all eyes will turn shortly to one of the Olympic Games’ signature sports: Gymnastics. Biles comes to Paris aiming to wash away the disappointment of that Games, and has been on an absolute tear heading into Paris. She returns in Paris looking to match the feat of Czechoslovak gymnast Vera Caslavska in 1964 and 1968. While Biles and Lee are competing against each other in Paris, the two will also be teammates in the team competition that gets underway on Tuesday. Daiki Hashimoto is also aiming to equal his countryman Kohei Uchimura’s accomplishments in London and Rio de Janeiro by winning his second straight all-around gold medal.

Persons: Simone Biles, ”, USA’s, –, Biles, She’ll, Suni Lee, Lee, Vera Caslavska, Japan’s, Daiki Hashimoto, Kohei Uchimura’s, Varfolomeev Organizations: Paris CNN —, Olympic, Bercy, Team USA, US, Russian Olympic, Paris Games, Rio de Janeiro, Japan, NBC, USA, Globo •, CBC, •, ARD, ZDF, Fuji, NHK, Nippon, SKY, SuperSport • United, BBC, Discovery Eurosport Locations: Paris, Tokyo, American, Russia, Russian, Japan, London, Rio de, China, Rio, German, City of Light, Brazil, Globo • Canada, France, • Germany, New Zealand, Africa, SuperSport • United Kingdom, Europe

Ms. Harris was receiving 93 percent support from Democrats, the same share that Mr. Trump was getting from Republicans. Overall, Mr. Trump leads Ms. Harris 48 percent to 47 percent among likely voters in a head-to-head match. Mr. Trump leads Ms. Harris 48 percent to 46 percent among registered voters. The country’s view of Ms. Harris has also brightened, with her favorable rating rising by 10 percentage points since February. In a multicandidate race, less than a single percentage point separated Mr. Trump and Ms. Harris, with Ms. Harris at 44 percent and Mr. Trump at 43 percent after rounding.

Persons: Kamala Harris, Donald Trump, Donald J, Trump, Biden, Harris, Nate Cohn, Mr, Erin Schaff, Harris’s, JD Vance, Ohio, “, ”, Summer Nesbitt, Nesbitt, Biden’s, Trump’s, … Donald Trump, Joe Biden, Harris —, don’t, Eddie Otzoy, Hillary Clinton, Michael Newman, —, Robert F, Kennedy Jr, ” Harris Trump, Christine Zhang Organizations: New York Times, Siena College, Democratic Party, Democratic, Mr, Republicans, Times, Credit, The New York Times, Sun, Republican National Convention, Trump, Siena, “, Democrats Locations: Siena, Atlanta, Nevada , Arizona, Georgia, Detroit, Pennsylvania, Los Angeles, Arlington , Texas

☆ LMVH and other global luxury brands are hurting as Chinese shoppers rein in spending
▼ + stars: | 2024-07-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The value of some of the world’s best-known luxury companies is plunging as Chinese consumers pull back on spending, with even the most exclusive brands feeling the pain. The rout seems to be accelerating, with those sales tumbling 14% in the second quarter, according to results published late Tuesday. “For now, the (luxury) market remains volatile as investors reassess the once-held belief that luxury brands are a safe-haven investment, shielded from broader economic downturns,” Jochen Stanzl, chief market analyst at CMC Markets, told CNN. “The Chinese market contracted slightly; the market situation in the premium and luxury segment in China remained weak,” the company said. China’s economy grew 4.7% year-on-year in the second quarter of the year, according to official data released last week, missing economists’ expectations and marking the weakest growth since the first quarter of 2023.

Persons: Bernard Arnault’s, Louis Vuitton, Christian Dior, ” Jochen Stanzl, Richemont, Cartier, ”, Gucci, Kering, Hermes, Birkin, Olesya Dmitracova Organizations: London CNN, Prada, CMC Markets, CNN, Europe’s, Reuters, Porsche, Benz, Bain & Company Locations: Asia, Japan, China, Paris, Hong Kong, China , Hong Kong, Macao, North America, Europe, United States

☆ Nikki Haley defends anti-Trump primary rhetoric and choice to endorse him over Harris
▼ + stars: | 2024-07-25 | by ( Jeremy Herb | ) edition.cnn.com time to read: +7 min

In May, Haley said she would vote for Trump, sparking backlash from some anti-Trump Republicans who had supported her campaign. Even after she suspended her campaign in March, Haley continued to get a significant share of the vote in subsequent primaries. “I know that Trump kept dictators at bay, and that’s what I hope he will continue to do,” she said. That’s what I want President Trump to have. “First of all, she was official, she should have been there,” Haley said of Harris, who serves as president of the Senate in her official capacity.

Persons: Nikki Haley, Donald Trump, Jake Tapper, Kamala Harris, Trump, Haley, Joe Biden’s, “, ” Haley, Joe Biden, Haley –, ”, –, Harris, Kamala Harris –, she’s, we’ve, It’s Trump, it’s Harris, Tapper, Ohio Sen, JD Vance, Vance, we’re, Benjamin Netanyahu’s, – Harris, Netanyahu, they’re, ” “, Chris Christie, Christie, Chris, he’s Organizations: CNN, Former South Carolina Gov, Democratic, Republican National Convention, GOP, Trump, Trump Republicans, United Nations, Ohio, Republican Party, America, Russia, Israeli, White, Mar, Senate, Republican, New, New Jersey Gov Locations: Russia, Ukraine, Taiwan, Israel, New Jersey, Iowa, New Hampshire

☆ Yen rises as carry trades unwind, risk sentiment takes a hit
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +2 min

The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen trade...you've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.

Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down

☆ June home sales slump, pointing to a buyer's market as supply increases
▼ + stars: | 2024-07-23 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

"We're seeing a slow shift from a seller's market to a buyer's market," said Lawrence Yun, chief economist for the Realtors. These inventory levels are the highest supply since May 2020, boosted by homes sitting on the market longer. Supply of homes for sale is weakest on the lower end, but is seeing a new surge now. While the sales price nationally is high, new listing prices are lower. Either home sales rise, or, if the prices do not rise, the prices would buckle down," Yun added.

Persons: Lawrence Yun, Danielle Hale, Yun Organizations: National Association of Realtors, Realtors, Realtor.com, Investors Locations: Patchogue, N.Y, Patchogue , New York

☆ The global tech outage showed how we’re just one mistake away from chaos
▼ + stars: | 2024-07-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“So this is going to be incredibly painful for CrowdStrike customers.”And even if your business had nothing to do with CrowdStrike, the outage still might have ruined your day. You didn’t have to be a CrowdStrike customer to get screwed by the company’s mistake, and that’s what made Friday’s outage so frustrating. But the scale of the CrowdStrike outage is once again underscoring just how interconnected the world has become through a network almost none of us understands and which is largely self-regulating. Microsoft estimated the CrowdStrike outage affected some 8.5 million Windows devices. “Our tech platforms have a mix of legacy systems coupled with modern systems, which means that the weakest link determines the overall system performance.

Persons: CNN Business ’, — didn’t, you’ve, CrowdStrike, Brian Fung, ”, Kevin Beaumont, underscoring, Stuart Madnick, Anil Khurana, ” Khurana, Khurana, Madnick, it’s Organizations: CNN Business, New York CNN, Blue, Microsoft, MIT Sloan School of Management, Airlines, Baratta Center, Global Business, Georgetown’s McDonough Business School, Boeing, JPMorgan Locations: New York

☆ China economy and employment: People who used to work for major tech giants are now doing manual labor
▼ + stars: | 2024-07-20 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +8 min

Li, 27, is part of a growing base of Chinese workers swapping high-pressure office jobs for flexible blue-collar work. But these firms are slowly losing their appeal as China’s economy faces headwinds including a property crisis, declining foreign investment and slumping consumption. The trend to move from professional to manual jobs comes amid surging demand for blue-collar workers, according to Chinese recruitment platform Zhaopin. And blue-collar workers’ pay has also gone up, attracting more people to jobs they might have previously avoided. Pressure of another kindBut some wonder if blue-collar work is truly the stress-free refuge people like Li and Wang imagine it to be.

Persons: Hong Kong CNN — Leon Li, ”, Li, “, Alice Wang, Wang, –, Larry Hu, Zhang Yuxiao, David Goodman, commenter Organizations: Hong Kong CNN, CNN, National Bureau of Statistics, Workers, NBS, University of Sydney’s China Studies Centre Locations: China, Hong Kong, Hangzhou, Chengdu, –, Macquarie, Shanghai

☆ China economy: Key meeting offers few clues on how to tackle worsening downturn
▼ + stars: | 2024-07-19 | by ( Laura He | ) edition.cnn.com time to read: +8 min

While it offered few clues on how to tackle economic difficulties, the meeting did provide further insight into a shake-up of high-level personnel over the past year. If past sessions are a guide, a more detailed report may be released in the following days, but for now, “the plenum communique is light on specifics,” Evans-Pritchard added. That came days after China released disappointing economic data for the second quarter of this year. Analysts say that the coming months could offer more details on how Xi plans to revive the economy. Emphasizing short-term economic policies is rare in the history of the third plenums, said Larry Hu, chief China economist for Macquarie Group.

Persons: Hong Kong CNN — China’s, Xi Jinping, Xi, ”, Julian Evans, Pritchard, Qin, Li Shangfu, Li Yuchao, Jinming, Evans, “, ” Evans, Mao, Larry Hu Organizations: Hong Kong CNN, Communist Party, Capital Economics, Central, Defense, Liberation Army Rocket Force, of America, National Bureau, Statistics, Analysts, Macquarie Group Locations: Hong Kong, party’s, Beijing, China, policymaking, outflows, United States, Mao China

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