DIRS.INFO The most relevant business & tech news

☆ A severe recession is on the horizon - and the Fed will axe interest rates to limit the fallout, DoubleLine's chief investor says
▼ + stars: | 2023-07-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

The US economy is barreling toward a serious recession, DoubleLine Capital's Jeffrey Sherman says. Sherman predicts an embattled Fed will cut interest rates by a whole percentage point in response. "A multitude of economic indicators we look at are flashing either warning or recessionary signals," Jeffrey Sherman told Bloomberg. "The bond market is telling the Fed that they've overtightened and they will have to cut rates," Sherman said. "I think one signal to watch now is the rising default rate within the loan market," Sherman noted.

Persons: DoubleLine Capital's Jeffrey Sherman, Sherman, Jeffrey Gundlach, DoubleLine, Jeffrey Sherman, He's Organizations: Service, Federal Reserve, Bloomberg, Fed Locations: Wall, Silicon

☆ Forget recessions and vibecessions, we're in the middle of a confused-as-hell-cession
▼ + stars: | 2023-07-21 | by ( Sirena Bergman | ) www.businessinsider.com time to read: +3 min

Elon Musk is confused as hell by the economy. It feels like a recession is coming, but the details are hard to understand for the average person. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. No wonder we're all spending less time doing our jobs, we're too exhausted from trying to figure this all out. It's a confused-as-hell-cession, and Elon Musk has never been more relatable.

Persons: Elon Musk, you've, you'll, Neil Dutta, who's, It's Organizations: Service, Elon, York Life Investments, Macro Locations: Wall, Silicon

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ How an Olympic swimmer with a 9-to-5 engineering job schedules his day: ‘It may not be easy, but there is time for everything’
▼ + stars: | 2023-07-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Around the office, at his Atlanta-based engineering job, Nic Fink's coworkers call him "The Fish." It's an apt nickname for the 30-year-old who moonlights as a swimmer on the U.S. national team and has competed at Olympic tournaments. But for the average 9-to-5 worker, adding in a professional swim training schedule might seem nearly impossible — at least, without barreling toward burnout. Here are two tips he keeps in mind to make it happen:'There is time for everything'Fink typically starts his day at 5:30 a.m. to make it to his two-hour morning swim training. As he ping-pongs from the pool to the office back to the pool, Fink relies on to-do lists and strict scheduling to keep himself organized.

Persons: Nic Fink's, Fink, Melanie Margalis, Fink's, It's Organizations: U.S ., CNBC, Georgia Institute of Technology, U.S, Georgia Tech Locations: Atlanta, what's

☆ FTC is investigating ChatGPT-maker OpenAI for potential harm to consumers
▼ + stars: | 2023-07-13 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

OpenAI didn’t immediately respond to a request for comment. OpenAI CEO Sam Altman addresses a speech during a meeting, at the Station F in Paris on May 26, 2023. As the nation’s top consumer protection watchdog, the FTC is empowered to prosecute privacy abuses, untruthful marketing, and other harms. FTC Chair Lina Khan has argued that the agency’s existing congressional mandate provides ample authority for the FTC to prosecute abusive uses of AI. Some critics of OpenAI previously filed a complaint to the FTC claiming that algorithmic bias, privacy concerns and ChatGPT’s tendency to hallucinate may violate US consumer protection law.

Persons: Sam Altman, OpenAI, OpenAI didn’t, Joel Saget, Lina Khan, “ turbocharge, Khan, ” Khan, ” OpenAI Organizations: Washington CNN, Federal Trade Commission, FTC, The Washington, CNN, Getty, European Union, scammers, New York Times Locations: Paris, AFP, “

☆ What happens when ChatGPT tries to create crochet patterns
▼ + stars: | 2023-07-08 | by ( Aj Willingham | ) edition.cnn.com time to read: +11 min

ChatGPT, a publicly available language-learning AI, was not designed to create things like crochet or knitting patterns. Before we begin …A few notes on my methodology:For every crochet pattern I generated, I used the prompt “Create a crochet pattern for (blank).”I followed the crochet pattern exactly. At first glance, ChatGPT’s crochet patterns look and read exactly like a crochet pattern. In a traditional crochet pattern, instructions for assembly would note specific places and methods to attach pieces, along with photos or notes on particularly tricky steps. Theoretically, it would be possible to create AI that generated amazing crochet patterns, but that would require very specific training and programming.

Persons: ”, AJ Willingham, ChatGPT, ’ AJ Willingham, You’ll, Yoda ’ AJ Willingham, Yoda, Casey Miller, ” Miller, It’s, Antarctica ’ AJ Willingham, “, Al Arab ’ AJ Willingham, CNN I’ll, Khalifa, you’ve, Eliot, don’t Organizations: CNN, Antarctica, Burj Al, Burj Locations: Kennesaw , Georgia, Antarctica, Al Arab, Al, Arab, Dubai, Burj, Arab’s

☆ 'I've seen this show before': A renowned market bear who called the dot-com bubble warns a recession is still barreling toward the US economy — and stocks are due to suffer as misguided optimism fuels
▼ + stars: | 2023-07-08 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

There's a fairly simple way to characterize Societe Generale strategist Albert Edwards' latest note to clients. Bears are boys who cried wolf (recession), and investors are the shepherd who have become sick of the ongoing warnings and have stopped heeding their calls. Societe GeneraleAll of this optimism is likely a mistake, Edwards said as he doubled down on his recession call. In an May note, Edwards said "recession is a done deal," citing The Conference Board's Leading Economic Index, which has been at recessionary levels for months now. The indicators takes into account variables like manufacturing activity, stock performance, consumer confidence, housing market activity, and bond market activity.

Persons: Albert Edwards, Edwards, downgrades, —, I'm, Michelle Cluver, Jason Draho, Neil Dutta, Ian Shepherdson Organizations: Societe Generale, Bears, Generale All, Generale, Investors, Bureau of Labor Statistics, X, Federal Reserve, UBS, Macro

☆ These are the 3 biggest fears about AI — and here's how worried you should be about them
▼ + stars: | 2023-07-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Some AI experts say we're barreling headfirst toward the destruction of humanity. Current AI systems are not sentient but they are created to be humanlike. "We need to look at the lack of purpose that people would feel at the loss of jobs en masse," he told Insider. AI biasIf AI systems are used to help make wider societal decisions, systematic bias can become a serious risk, experts told Insider. There have already been several examples of bias in generative AI systems, including early versions of ChatGPT.

Persons: Sam Altman, OpenAI, we're, David Krueger, it's, I'm, Alan Turing, Janis Wong, Aaron Mok, Krueger, Abhishek Gupta, Arvind Krishna, Gupta, Wong Organizations: Center, AI Safety, Cambridge University, Montreal AI, IBM Locations: Montreal

☆ UBS shares 9 charts that show global stocks are barreling towards a sell-off as recession fears flare
▼ + stars: | 2023-07-03 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +2 min

But UBS analysts are expecting that global equity valuations will sell off later this year. Stocks may be riding the ongoing bull rally back to all-time highs, but that doesn't mean Wall Street's fears of an economic downturn have completely dissipated. In fact, even prominent investors such as Evercore founder Roger Altman have called for a recession by the end of 2023. And according to analysts at UBS investment bank, a potential market sell-off wouldn't be solely concentrated in the technology sector. In the note, Baweja and his team also shared nine "essential" charts showing why they expect equities to sell off this year.

Persons: Roger Altman, Joe Mazzola — Charles Schwab's, —, Bhano Baweja, Baweja Organizations: UBS

☆ The Supreme Court's rejection of Biden's student-loan-forgiveness plan will make a looming economic slowdown even worse
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The repayment poses risks to the economy, with consumer spending likely to be reduced. On Friday, the Supreme Court ruled that Biden's plan to cancel up to $20,000 in student debt will be struck down. But they're a weight, it's about 20 million student-loan borrowers that haven't been paying, they'll have to begin paying more or less in September," Zandi said. White House Principal Deputy Press Secretary Olivia Dalton was asked this week about how the student-loan payment resumption could impact consumer spending. And his concerns are broader than just a contraction in consumer spending.

Persons: —, Joe Biden's, Mark Zandi, haven't, Zandi, that's, Ethan Harris, Morgan Stanley, Olivia Dalton, Dalton, Marshall Steinbaum Organizations: Education Department, Service, Moody's, CNBC, Bank, Bank of, UBS, White, Politico, Family Institute, University of Utah Locations: Wall

☆ Kagan says the Supreme Court risks becoming 'a danger to a democratic order' after it axed Biden's student loan forgiveness plan
▼ + stars: | 2023-06-30 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Justice Elena Kagan slammed the Supreme Court for striking down Biden's student loan forgiveness plan. The high court, Kagan argued, is approaching a future that is "a danger to a democratic order." "That is no proper role for a court," Kagan wrote. "Congress knew that national emergencies would continue to arise," Kagan wrote. "From the first page to the last, today's opinion departs from the demands of judicial restraint," Kagan wrote.

Persons: Elena Kagan, Kagan, SCOTUS, —, John Roberts, Biden, Joe Biden, Roberts, Sonia Sotomayor, Ketanji Brown Jackson, Obama Organizations: Service, Education Department

☆ Virgin Galactic launches first paying customers to the edge of space
▼ + stars: | 2023-06-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Virgin Galactic, the venture founded by British billionaire Richard Branson, successfully launched its first paying customers to the edge of space — a milestone two decades in the making. (Future Virgin Galactic flights, however, are expected to include a range of high-profile customers.) Bennett’s role was to assess the comfort and function of the flight, using that information to inform future changes Virgin Galactic might make to its rocket-powered space plane, VSS Unity. Organizations such as NASA have routinely flown experiments on suborbital rockets, including Virgin Galactic and Blue Origin missions. In a tragic 2014 accident, Virgin Galactic’s space plane broke apart during flight, killing the mission’s copilot, Michael Alsbury.

Persons: Richard Branson, Virgin Galactic’s, Jeff Bezos’s, Walter Villadei, Angelo Landolfi, Colin Bennett, Pantaleone, Branson, Burt Rutan, Paul Allen, Hamish Harding, Michael Alsbury, — Organizations: CNN, Virgin Galactic, Italian Air Force, Virgin, SpaceX, Italy’s National Research Council, Branson, VSS, VSS Unity, NASA, International, National Research Council, Microsoft, Galactic, OceanGate, Scaled Composites, Origin, Congress, Federal Aviation Administration, FAA Locations: British, New Mexico, United States

☆ Opinion | It’s Not Too Late for the Republican Party
▼ + stars: | 2023-06-25 | by ( J. Michael Luttig | ) www.nytimes.com time to read: +2 min

He cynically calculated that his indictment would ensure that a riled-up Republican Party base would nominate him as its standard-bearer in 2024, and the last few weeks have proved that his political calculation was probably right. In a word, the Republicans are as responsible as Mr. Trump for this month’s indictment — and will be as responsible for any indictment and prosecution of him for Jan. 6. But by all appearances, it certainly hasn’t occurred to them yet that any reckoning is needed. Building the Republican campaign around the newly indicted front-runner is a colossal political miscalculation, as comedic as it is tragic for the country. No assemblage of politicians except the Republicans would ever conceive of running for the American presidency by running against the Constitution and the rule of law.

Persons: Donald Trump, Republicans ’, Mr, Trump, —, Jan, naïvely Organizations: Republican Party, Republicans, White, Capitol, Republican, White House, Mr

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ These are the 3 biggest fears about AI. Do they really stack up?
▼ + stars: | 2023-06-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

An AI takeoverOne of the most commonly cited risks is that AI will get out of its creator's control. Current AI systems are not sentient but they are created to be humanlike. "We need to look at the lack of purpose that people would feel at the loss of jobs en masse," he told Insider. AI biasIf AI systems are used to help make wider societal decisions, systematic bias can become a serious risk, experts told Insider. There have already been several examples of bias in generative AI systems, including early versions of ChatGPT.

Persons: Sam Altman, OpenAI, we're, David Krueger, it's, I'm, Janis Wong, Alan Turing, Aaron Mok, Krueger, Abhishek Gupta, Arvind Krishna, Gupta, Wong Organizations: Center, AI Safety, Cambridge University, Alan Turing Institute, Montreal AI, IBM Locations: Montreal

Storm chaser Brian Emfinger tells CNN that Thursday's tornado cut through some of the main sections of Perryton, Texas. Emfinger said the worst he saw was in the northwest part of town. People there had little warning as the tornado touched down, barreling toward a mobile home park directly in its path, he said. “The storm produced a wall cloud very quickly, and that wall cloud tightened up very rapidly and then it just went to the ground very quickly,” Emfinger said. Usually with a strong tornado, there’s a lot of leeway time for people to prepare, he said.

Persons: Brian Emfinger, ” Emfinger, Emfinger Organizations: CNN Locations: Perryton , Texas, People

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

☆ Russian forces are shooting at Ukrainian rescuers trying to reach people trapped in the floods, Zelenskyy says
▼ + stars: | 2023-06-08 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukrainian rescuers are being "shot at" by Russia, Zelenskyy said, after a key dam was destroyed. "As soon as our helpers try to rescue them, they are shot at," Zelenskyy told Politico in an interview published on Wednesday. Ukrainian rescuers are working to help people on the Russian-occupied east bank of the Dnipro river, he said. When our forces try to get them out, they are shot at by occupiers from a distance," Zelenskyy said. A view shows flooded residential buildings after the Nova Kakhovka dam breach, in Kherson, Ukraine June 8, 2023.

Persons: Zelenskyy, —, Volodymyr Zelenskyy, Smilianets Zelenskyy, Nova Kakhovka, Vladimir Putin Organizations: Service, Politico, REUTERS, Tass, Guardian Locations: Russia, Ukraine, Dnipro, Kherson, Kherson region, Russian, Nova

☆ The internet is losing it over Apple's $3,500 mixed-reality 'uncool' headset
▼ + stars: | 2023-06-06 | by ( Reena Koh | Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Apple's new mixed-reality headset, the Vision Pro, was unveiled on Monday. The internet has been having a field day dunking on Apple's new $3,499 mixed-reality headset, the Vision Pro. Vision Pro has been years in the making, reportedly with some setbacks and product-design compromises along the way. Yet, it may have one fatal flaw — the Vision Pro was just another pair of nerd goggles that would make most people look decidedly uncool, Insider's Alistair Barr wrote on Tuesday. "This sounds like the disappointed crowd from Wii sports," a tweet about the viral video said.

Persons: Insider's Nicholas Carlson, Insider's Alistair Barr, Apple's, barreling, gwyneth paltrow, Anne Hathaway, It's, Steve Jobs, — Robert Evans, Robert Evans Organizations: Vision, Morning, Worldwide, Twitter, Wii, Apple Locations: Cupertino

☆ The internet is losing its shit over Apple's $3,500 mixed-reality 'uncool' headset
▼ + stars: | 2023-06-06 | by ( Reena Koh | Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Apple's new mixed-reality headset, the Vision Pro, was unveiled on Monday. The internet has been having a field day dunking on Apple's new $3,499 mixed-reality headset, the Vision Pro. Vision Pro has been years in the making, reportedly with some setbacks and product design compromises along the way. Yet, it may have one fatal flaw — the Vision Pro is just another pair of nerd goggles that will make most people look decidedly uncool, Insider's Alistair Barr wrote on Tuesday. And ever since the announcement, people have been relentlessly mocking Apple's first major product launch in over eight years.

Persons: Insider's Nicholas Carlson, Insider's Alistair Barr, Apple's, AppleVisionPro, barreling, gwyneth paltrow, that's, Anne Hathaway, It's, Steve Jobs, — Robert Evans, Robert Evans Organizations: Vision, Morning, Worldwide, Twitter, Wii, VR, Apple Locations: Redfin, Cupertino

☆ Ukraine accuses Russia of blowing up dam to put a massive natural obstacle in the way of its counteroffensive
▼ + stars: | 2023-06-06 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

A huge dam in Ukraine was breached on Tuesday, creating a natural disaster. Ukraine said Russia blew up the damn to try and hamper Ukraine's counteroffensive. An expert said the flood will make it harder to Ukraine to reach occupied territory over the Dnipro river. Podolyak's comment suggests he thinks Russia would struggle to keep Ukraine back without taking such action. Russia and Ukraine both warned earlier in the war that the other side may target the dam.

Persons: —, Mykhailo Podolyak, Volodymyr Zelenskyy, Podolyak, Andrii Yermak, Sergey Radchenko, Vladimir Leontiev, Nova Kakhovka, Zelenskyy, Mustafa Nayyem, Oleksandr Prokudin, Yermak Organizations: Service, Twitter, Russia, BBC, Johns Hopkins School, International, Politico, Kremlin, NATO, Ukraine's State Agency for Restoration, Infrastructure Development, International Atomic Energy Agency Locations: Ukraine, Russia, Dnipro, Nova, Crimea, Kherson, Europe

☆ Yes, you can have a red-hot jobs market and a recession
▼ + stars: | 2023-06-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

The U.S. jobs market is still sizzling and the economy is heading for a recession: Both things can be true. May's nonfarm payrolls growth again stunned Wall Street, with the count climbing by 339,000, well ahead of Wall Street estimates that have consistently undershot the report since January 2022. However, there's an old adage on the Street that when it comes to recessions, the jobs market is always the last to know. Central bank policymakers specifically have targeted a slowdown in the labor market in their quest to bring down inflation. The weak services reading comes with an ISM manufacturing reading — most recently at 46.9 — in contraction for seven straight months.

Persons: Ian Shepherdson, Shepherdson, Kumar, Andrew Hunter, Hunter, DataTrek, Nicholas Colas Organizations: Federal, Pantheon, Fed, Sri, Kumar, Services, Capital Economics, Research, Atlanta Locations: payrolls

REUTERS/Jonathan ErnstWASHINGTON, June 1 (Reuters) - The U.S. Senate will stay in session until it passes a bill to lift the government's $31.4 trillion debt ceiling, Democratic Majority Leader Chuck Schumer said on Thursday. Schumer said on Wednesday that the Senate would not make any amendments on the bill, which would send it back to the House for re-approval. The Republican-controlled House passed the bill on Wednesday evening in a 314-117 vote. His counterpart, Senate Republican Leader Mitch McConnell, also signaled on Wednesday that he would work for fast passage, saying, "I'll be proud to support it without delay." Chastising House Republican negotiators for agreeing to what he sees as a weak compromise with Democrats, Lee lamented, "With Republicans like these, who needs Democrats?"

Persons: Chuck Schumer, Jonathan Ernst WASHINGTON, Joe Biden, Schumer, Biden, Kevin McCarthy, McCarthy, Mitch McConnell, McConnell, John Thune, “ There’ll, ”, Rand Paul, Mike Lee, Lee, surrogates, Richard Cowan, David Morgan, Scott Malone, Alistair Bell Organizations: U.S, Democratic, Capitol, REUTERS, Senate, Republican, Republicans, House, Treasury Department, CBS News, Biden, Thomson Locations: Washington , U.S, United States

"Once this bill reaches the Senate, I will move to bring it to the floor as soon as possible," Majority Leader Chuck Schumer said on Wednesday. His counterpart, Senate Republican Leader Mitch McConnell, also signaled that he would work for fast passage, saying, "I'll be proud to support it without delay." The chamber's rules require 60 votes to advance most legislation, meaning at least nine Republican votes are needed to pass most bills, including the debt ceiling deal. On Wednesday he vowed to vote against the bill, but did not reiterate his threat to try to delay it. Chastising House Republican negotiators for agreeing to what he sees as a weak compromise with Democrats, Lee lamented, "With Republicans like these, who needs Democrats?"

Persons: Chuck Schumer, Jonathan Ernst WASHINGTON, Joe Biden, Biden, Kevin McCarthy, McCarthy, Mitch McConnell, Schumer, McConnell, John Thune, Rand Paul, Mike Lee, Lee, surrogates, Richard Cowan, David Morgan, Scott Malone, Lincoln Organizations: U.S, Democratic, Capitol, REUTERS, Senate, Republican, Republicans, Treasury Department, CBS News, Biden, Social, Wall, Thomson Locations: Washington , U.S, United States

☆ Big landlords are barreling towards a 'reckoning.' But smaller ones are doing just fine.
▼ + stars: | 2023-05-25 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +11 min

Some big landlords are starting to feel the squeeze of stalled rents and increased operating expenses. The main difference between 'big' and 'small' landlords: the financingA key difference between smaller, mom-and-pop landlords and larger landlords is how they're financing deals. While small landlords are typically purchasing single-family homes or multi-family properties like duplexes and triplexes, which you can finance with residential debt, big landlords are buying apartment buildings and have to use commercial debt. With a residential loan, you can typically get a fixed interest rate, which will not change over the lifetime of the loan. "One of the reasons I invest in four units or less is you get 30-year fixed rate debt," he said.

Search resuls for: "barreling"

25 mentions found