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Back-to-school shopping hasn't been easy this year for Lauren Cyr. Total spending on school-related items for students in these grades is expected to climb to a new high of $41.5 billion. Instead, consumers have reported that purchases of more supplies and bigger-ticket items have contributed to higher spending this year. While inflation has broadly slowed, consumers may not feel any respite as prices of school supplies are still rising. "By being flexible in what you're purchasing, you can actually come away with both a happy child and a happy wallet."
Persons: Lauren Cyr, ", Cyr, Cyr isn't, Jay Zagorsky Organizations: National Retail Federation, Prosper, Boston University's Questrom School of Business Locations: Ruskin , Florida
HAVANA, Aug 3 (Reuters) - The Cuban Central Bank issued rules this week banning state and private businesses from using ATMs and limiting cash transactions between them, as it seeks to tame runaway inflation and off-the-books business amid a grave economic crisis. They limit cash transactions to 5000 pesos and will be implemented gradually over six months, official media said. The government pegs the dollar at 24 pesos and for select companies, tourists and residents at 120 pesos, though it has few to exchange. The dollar currently fetches 230 pesos on the informal market. The crisis has led to a lack of confidence in the state-run banking system, resulting in a lack of cash at some ATMs as businesses use them, leaving residents in the lurch.
Persons: Alejandro Gil, Nelson Acosta, Marc Frank, Deepa Babington Organizations: Cuban Central Bank, Economy, Thomson Locations: HAVANA
"It seems like they do a lot to try to make it seem like they are the party for young Black men or Black men as a whole, but they don't back it with anything. The vast majority of Black voters, including men, are still expected to choose Biden over a Republican. Black men and women under the age of 50 voted Republican in similar numbers, the poll showed. A Reuters/Ipsos poll conducted July 11-17 found 18% of Black Americans would pick Trump over Biden in a hypothetical matchup, compared to 46% who favored Biden, including about one in four Black men, compared to about one in seven Black women. Compared with Black women, Black men were more likely to say they would back a presidential candidate that supported abortion restrictions and increased police funding to fight crime.
Persons: Joe Biden, Biden, lurch, Mekonnen, Biden's, I'm, LeLann Evans, Evans, Michael McDonald, Republican Donald Trump's, Trump, Terrance Woodbury, Woodbury, Julian Silas, Silas, Kamala Harris, Jaime Harrison, Harris, Tracy King, Andre Russell, Trevor Hunnicutt, Jarrett Renshaw, Jason Lange, Eric Cox, Heather Timmons, Alistair Bell Organizations: . Army, White House, Democratic Party, Democratic, White, Reuters, U.S, Republican, Black, Biden, Nashville City Council, Democrats, Pew Research, University of Florida, Republicans, HIT, Edison Research, Federal Reserve, Democratic National Committee, Culture, NAACP, Thomson Locations: Georgia, Black, South Carolina, Philadelphia, Atlanta , Milwaukee, Detroit, Pennsylvania , Michigan, Washington, Chicago, U.S, New Orleans
Electric trucks, long touted as a key to broader EV adoption, are a wildcard in the electric vehicle price war. Automakers are investing billions of dollars to electrify their product lineups not just for the average car buyer, but also for these fleet customers. "You're watching your numbers, you're watching your budget, you're watching the profit you're making." Still, automakers can't afford to jerk these buyers around with EV price changes. Smaller fleet customers are also very important for dealers, and electric trucks are a big gamble to sell to these customers, dealers who spoke with Insider said.
Persons: they're, Robby DeGraff, Tyson Jominy, Ford, Jominy Organizations: Morning, Car, EV, Amazon, FedEx, Walmart, Silverado Locations: .
That would cost the EU its figurehead in international climate negotiations and the politician who drove through Europe's toughest measures yet to cut planet-warming emissions. The move was at odds with the U.S., and faced ire from some EU countries who felt it gave too much away. Ribera's role at the helm of Spain's green agenda is on the line after a snap election on Sunday ended with gridlock. The EU wants to pass at least two more green policies before EU elections next year - the nature law and electricity market reforms. Spain - whose current government typically backs ambitious EU climate policies - holds the EU's rotating presidency, and will chair EU countries' negotiations on all new laws until 2024.
Persons: gridlock, Frans Timmermans, Michael Bloss, Timmermans, Teresa Ribera, Linda Kalcher, Ribera's, She's, Kalcher, Ribera, Emmanuel Macron, Pablo Simon, Carlos, Kate Abnett, Pietro Lombardi, Jonathan Oatis Organizations: EU, European, UN, Green, U.S, SECOND, gridlock, People's Party, Carlos III University, Thomson Locations: Spain, lurch BRUSSELS, Dutch, Santiago, Chile, Ribera, Europe, Italy
Dealers lose in the race to get an electric truck in consumers' driveways. Dealers have more to lose than manufacturers, who book revenue once the truck leaves the factory. In an electric truck market where buyers are placing bets on what will arrive first, dealers are likely to be the ones left in the lurch. Listening to dealers about where the demand pendulum is swinging will be crucial for car companies as they roll out more and more electric models in the coming years. Car companies that use dealers book revenue on a car once it leaves the factory (that's one of the biggest advantages legacy car companies have over startups that use a direct-to-consumer model).
Persons: Cybertruck, Tesla, Karl Brauer, Brauer, they're, Ford, EVs, Jessica Caldwell, Edmunds, Caldwell Organizations: Dealers, Ford, GM, iSeeCars, EV, Car
CNN —Matt Damon turned down a major role years ago – except this role was one that could have made the Oscar-winner upwards of $250 million. “Water” sits behind “Avatar” and “Avengers: Endgame,” which has grossed nearly $2.8 billion since its release in 2019. It’s a decision that may haunt him, but all signs seem to indicate that Damon did just fine without venturing around Cameron’s planet of Pandora. For now, Damon stars in director Christopher Nolan’s latest war-era epic “Oppenheimer,” which premieres in theaters on Friday. As for Damon’s claim that his decision resulted in the most money an actor has declined ever, that’s debatable.
Persons: Matt Damon, Chris Wallace, ” Damon, James Cameron’s, ” Cameron, Sam Worthington, Zoe Saldana, Sigourney Weaver, Joel David Moore, Michelle Rodriguez, , It’s, Damon, Christopher Nolan’s, Oppenheimer, Sean Connery, Gandalf, Peter Jackson’s, “ didn’t, Bond Organizations: CNN
Nairobi, Kenya CNN —Former employees of Twitter Africa who were laid off as part of a global cost-cutting measure after Elon Musk’s acquisition have not received any severance pay more than seven months since leaving the company, several sources told CNN. “They literally ghosted us,” one former Twitter Africa employee told CNN. Twitter and Musk face multiple lawsuits where plaintiffs are claiming the company has failed to pay former staffers what they are owed. The plaintiff said Twitter promised senior employees severance of six months of base pay plus one week for every year of service, in addition to other benefits. “We’re exploring our options with respect to causes of action against Twitter in various jurisdictions including Ghana,” Olympio told CNN.
Persons: , , Carla Olympio, Musk, Ghana’s, ” Olympio, Twitter, David Odisho Organizations: Kenya CNN —, Twitter, Elon, CNN, Ghana’s Ministry of Employment, Labor Relations, BBC Locations: Nairobi, Kenya, Twitter Africa, Accra, Africa, Ghana, San Francisco , California, Europe, North America
SHANGHAI/HONG KONG, July 6 (Reuters) - Chinese investors are rushing offshore to make dollar deposits and buy Hong Kong insurance in a signal domestic confidence is languishing and that the ailing yuan faces more pressure. New premiums collected on Hong Kong insurance policies leapt a staggering 2,686% to $9.6 billion in the first quarter of 2023. "The burst of insurance buying in Hong Kong reflects a gloomy domestic outlook, and worries about an uncertain future." "Offshore demand for policies denominated in Hong Kong dollars is low – U.S. dollar-denominated policies are more prevalent, to provide access to global asset allocation," said Lawrence Lam, chief executive officer at Prudential Hong Kong. The wealth manager at Noah fears that a sustained rush into Hong Kong insurance risks inviting Beijing's policy tightening.
Persons: Helen Zhao, lurch, Noah Holdings, Lawrence Lam, Hao Hong, Tan Xiaofen, We've, Sami Abouzahr, Samuel Shen, Winni Zhou, Georgina Lee, Summer Zhen, Tom Westbrook, Kim Coghill Organizations: Hong, AIA, HK, Prudential, Manulife, Noah Holdings, Savings, Bank of China, U.S, Prudential Hong Kong, Investment, School of Economics, Management, Beihang University, HSBC, Thomson Locations: SHANGHAI, HONG KONG, Hong Kong, Macau, COVID, U.S, Beijing
Nick's dilemma illustrates how the climate crisis is touching even the most mundane aspects of owning a home. That's been stagnant because of strict state regulations on what insurance companies can charge. She's one of many homeowners who for years have bought policies from companies that aren't approved by Florida's insurance regulators. Houses that would cost $1 million or more to rebuild are not covered by the state-backed Citizens Property Insurance, leaving them vulnerable to a disaster. Now he's not sure whether he — or anyone — will ever get the chance to live in his former neighborhood again.
Persons: , Nick, hadn't, McKinney, Hurricane, Madelyn Rodriguez, Rodriguez, Ian, Rodriguez's townhome, Bob Stephens, Stephens, It's, he'd, he's Organizations: Service, California FAIR, Insurance, Institute, State Farm, Allstate, Insurance Information Institute, Property Insurance, Los Angeles Locations: Klamath, Forest, Oregon, McKinney, California, Florida, Fort Lauderdale , Florida, Broward County, Marathon , Florida, , Marathon
New EPA Rules Pressure Biofuel Producers
  + stars: | 2023-06-25 | by ( Bob Henderson | ) www.wsj.com   time to read: 1 min
A soybean processing facility in Greenwood, Miss. Soybean oil is a rapidly growing input for renewable diesel. Photo: Rory Doyle/Bloomberg NewsU.S. regulators spawned a booming industry for low-carbon trucking fuel. Shares of Darling Ingredients , the country’s largest renewable diesel producer through a joint venture, fell as much as 8%. Shares of Archer-Daniels-Midland and Bunge , which produce renewable diesel feedstocks, also slipped on the news.
Persons: Rory Doyle Organizations: Bloomberg News U.S, Environmental Protection Agency, Daniels, Midland, Bunge Locations: Greenwood, Miss
The cult of Emily Oster
  + stars: | 2023-06-22 | by ( Sarah Todd | ) www.businessinsider.com   time to read: +30 min
Emily Oster is sitting in the back of a car, checking her Garmin watch as we lurch through rush-hour traffic toward the Holland Tunnel. A self-described expert in data, Oster uses her economics training to dig into studies on things like circumcision and screen time and translate them for popular consumption. There doesn't seem to be much of a gap between the way Oster presents herself in her books and newsletters and the way she conducts her life. Unsurprisingly, economics informs every aspect of the way Oster sees the world. When Oster was a toddler, her mother told a Yale colleague that Oster often talked to herself before falling asleep.
Persons: Emily Oster, doesn't, Oster, Taylor Swift, Spock, , Mandy Moore, Emily DiDonato, Amy Schumer, " Oster, Emily, Aisha McAdams, Claudia Goldin, who's, Lori Feldman, " Feldman, Winter, It's, reopenings, Timothy Caulfield, Oster's Brown, OSTER, She's, Sheryl Sandberg's, Brown, Denis Tangney Jr, graham, Eminem, Sharon Oster, Ray Fair, Jesse Shapiro, Katherine Nelson, Carl, Choate Rosemary Hall, John F, Kennedy, Glenn Close, Ivanka Trump, Goldin, Steven Levitt —, Oster —, Paul Farmer, Steven Levitt, Oster's, Levitt, Robert Barro, demographer Monica Das Gupta, Joseph Delaney, she'd, I've, Matt Notowidigdo, Chicago Booth, hadn't, Udo Salters, Patrick McMullan, Shapiro, Jessica Calarco, Dr, Anthony Fauci, Donald Trump, Calarco, Rochelle Walensky, Delaney, University of Manitoba epidemiologist, Abigail Cartus, Justin Feldman, Delivette Castor, they're, COVID, Castor, Notowidigdo, Carter, you'd, she's, there's Organizations: Garmin, Brown University, New York Times, American Academy of Pediatrics, Yorker, Yale School of Management, Yale, Harvard, Connecticut, Choate, University of Chicago, Forbes, Wall, Publicly, University of Manitoba, Getty, Oster, Centers for Disease Control, Columbia University, Harvard Business School Locations: Holland, Montclair , New Jersey, Montclair, Harvard, Providence , Rhode Island, New Haven , Connecticut, China, Canada, Chicago, Ohio, New Jersey
UPS Workers Authorize Teamsters Union to Call Strike
  + stars: | 2023-06-16 | by ( Noam Scheiber | ) www.nytimes.com   time to read: +1 min
United Parcel Service workers have authorized their union, the International Brotherhood of Teamsters, to call a strike as soon as Aug. 1, after the current contract expires, the Teamsters announced Friday. The Teamsters represent more than 325,000 UPS employees in the United States, where the company has nearly 450,000 employees overall. The union said 97 percent voted in favor of strike authorization. “The results do not mean a strike is imminent and do not impact our current business operations in any way,” UPS said in a statement, adding that it was “confident that we will reach an agreement.”A UPS strike could have significant economic fallout. The company handles about one-quarter of the tens of millions of parcels shipped each day in the United States, according to the Pitney Bowes Parcel Shipping Index.
Organizations: Parcel Service, International Brotherhood of Teamsters, Teamsters, UPS, Pitney Bowes Parcel Shipping Locations: United States
TRYing times: The slide and fall of the Turkish lira
  + stars: | 2023-06-07 | by ( Marc Jones | ) www.reuters.com   time to read: +5 min
The central bank is however widely expected to get a new head in the coming days. Turkey's economy is no stranger to boom-and-bust cycles, oscillating between double-digit growth and contraction rates in recent years. 3/INFLATION PALPITATIONSA tumbling lira will fan fears over a fresh spike in inflation in the country which only last year saw it top 80%. "It's just so inevitable," Abrdn's head of local currency emerging market debt, Kieren Curtis, said referring to the lira's slump this week. He did add however that the compensation would be paid to depositors in lira rather than dollars or euros and that bill would be split between the Treasury and Central Bank.
Persons: Goldman Sachs, Ulrich Leuchtmann, Hasnain Malik, Erdogan, Tellimer's Malik, Kieren Curtis, Frank Gill, Tayyip Erdogan's, Karin Strohecker, David Evans Organizations: Wall, JPMorgan, FX, Reuters Graphics Reuters, International Monetary Fund, P Global, Treasury, Central Bank, Reuters, Thomson Locations: Ankara, Turkey, Commerzbank, Frankfurt, Tellimer
The Major Supreme Court Decisions in 2023
  + stars: | 2023-06-07 | by ( Adam Liptak | Eli Murray | ) www.nytimes.com   time to read: 1 min
Public confidence in the Supreme Court was shaken after its lurch to the right a year ago in blockbuster decisions on abortion, guns, religion and climate change. The court — dominated by a 6-to-3 conservative majority, including three justices appointed by President Donald J. Trump — faces another set of important cases this term, including ones on affirmative action, student loans and civil rights for gay people. Its rulings will help answer questions about whether the court’s new configuration is out of step with public opinion. According to a survey conducted in April by researchers at Harvard, Stanford and the University of Texas, the public is often — but hardly always — divided along partisan lines on how the court should rule in significant cases from the term that started in October and is expected to end in late June. Here is a look at those cases.
Persons: Donald J Organizations: Trump, Harvard, Stanford, University of Texas
People walk past an election campaign poster for Turkey's President Recep Tayyip Erdogan on May 25, 2023 in Istanbul, Turkey. The country is holding its first presidential runoff election after neither candidate earned more than 50% of the vote in the May 14 election. Still, no candidate surpassed the 50% threshold required to win; and with Erdogan at 49.5% and Kilicdaroglu at 44.7%, a runoff election was set for two weeks after the first vote on May 14. "Kilicdaroglu has adopted a harder line on immigration and security ahead of the run-off … is unlikely to be enough," Kinnear said. Already, though, his anti-refugee rhetoric has angered many of his supporters and prompted resignations from some of his campaign allies.
Austin Evans said he decided to sell his Tesla Model Y over a variety of small build defects. Evans replaced the Tesla with a Mercedes EQS, which he said feels like a private jet. Tech YouTuber Austin Evans sold his family's 2021 Tesla Model Y because he was fed up with a myriad of quality concerns. In the video, Evans also provided a sneak peek at his new family car, a Mercedes EQS SUV. Evans is one of many Tesla owners to describe quality control issues with the EVs, including issues with panel alignment on the car, paint jobs, and leaks in the cabin.
But he fell just short of the 50% needed to avoid a runoff, in a race with profound consequences for Turkey itself and global geopolitics. His camp has struggled to regain momentum after the shock of trailing Erdogan in the first round. A closely-watched survey by pollster Konda for the runoff put support for Erdogan on 52.7% and Kilicdaroglu on 47.3% after distributing undecided voters. [1/5] Turkish President Tayyip Erdogan attends a rally, ahead of the May 28 presidential runoff vote, in Istanbul, Turkey May 27, 2023. Erdogan has fused religious and national pride, offering voters an aggressive anti-elitism," said Nicholas Danforth, Turkey historian and non-resident fellow at think tank ELIAMEP.
Poem: Ladies of the Sarasota Sewer
  + stars: | 2023-05-25 | by ( Jackie Wang | Anne Boyer | ) www.nytimes.com   time to read: +1 min
Ladies of the Sarasota SewerBy Jackie Wangin those dayswe ate garbage for every meali dove in the dumpsters withthe atlanta boysgot chubby on a bucketof expired breakfast barsfine dining was stealingcontinental breakfastat all the nearby hotelsfilching lukewarm dannonyogurts and bananasfrom the mediocre spreadonly once we were caughtthey gave us a billwe had no moneyi said i would go hometo try to get some moneyand when i leftthey let you go without payingthinking i had left you in the lurchall the love i see is gonewe lived on fumesthe adrenalin of ourbreaking bonesAnne Boyer is a poet and an essayist. Her memoir about cancer and care, “The Undying,” won a 2020 Pulitzer Prize for general nonfiction. Jackie Wang is a poet, a scholar, a multimedia artist and an assistant professor of American studies and ethnicity at the University of Southern California, where she researches race, surveillance technology and the political economy of prisons and police. She is the author of “Carceral Capitalism” (Semiotext(e), 2018), the poetry collection “The Sunflower Cast a Spell to Save Us From the Void” (Nightboat Books, 2021), which was a National Book Award finalist, and the forthcoming experimental essay collection “Alien Daughters Walk Into the Sun” (Semiotext(e), 2023).
[1/5] Portuguese surfer Teresa Bonvalot smiles after winning her heat in the Sydney Surf Pro on Sydney’s Northern Beaches, Australia, May 19, 2023. REUTERS/Lincoln FeastMay 22 (Reuters) - When Portugal's Teresa Bonvalot qualified for the Tokyo Games in 2021 as a then 21-year-old, she had barely a month to prepare for surfing's Olympic debut and the biggest event of her life. Now, more than a year out from the Paris Games, Bonvalot has again booked an Olympic ticket and is relishing the extra time to ready her mind, body and equipment. "That was unbelievable to get the news to mark my spot there," Bonvalot said during a competition in Australia last week. A total of 24 women's places are available, with the International Surfing Association's World Surfing Games in El Salvador this month providing the next qualification spots.
Office landlords are in store for retail redux
  + stars: | 2023-05-19 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, May 19 (Reuters Breakingviews) - Office landlords are in store for pain, but there’s a light at the end of the hallway. Though vacancy rates in the United States recently hit a 30-year high, owners of retail space – shopping malls and grocery stores – have shown that a bounce back is possible. A reset is in store, but the best office landlords can make it, too. But retail real estate, which includes everything from malls to shopping centers, went through its own misery. It might be a slog, as retail shows, but office could be in store for a redux.
We are experiencing the result of this marathon with you tonight," Erdogan, 69, told thousands of flag-waving supporters from the balcony of his party's headquarters. But Erdogan, a veteran of a dozen election victories, emerged comfortably ahead of Kilicdaroglu, though just short of the majority needed to win. The outcome reflects the strong support Erdogan still commands, especially in religiously conservative regions where voters long felt marginalised by a once-dominant secular elite. Over two decades, Erdogan has redrawn Turkey's domestic, economic, security and foreign policy, rivalling historic leader Mustafa Kemal Ataturk who founded modern Turkey a century ago. Erdogan's government said the purge was justified by threats from coup supporters, as well as Islamic State and the PKK.
The son of a sea captain, Erdogan has faced stiff political headwinds ahead of Sunday's election: he was already facing blame over an economic crisis when a devastating earthquake hit in February. Critics accused his government of a slow response and lax enforcement of building rules, failures they said could have cost lives. Two days before the vote, Erdogan said he came to office through the ballot boxes and if he had to, would leave the same way. A veteran of more than a dozen election victories, the 69-year-old Erdogan has taken aim at his critics in typically combative fashion. "I swear, Erdogan can solve it with a flick of his wrist," she said at a market in central Istanbul.
The Turkey candidates for president and other key figures
  + stars: | 2023-05-12 | by ( ) www.reuters.com   time to read: +6 min
Only three candidates remain in the race for president after Muharrem Ince, representing a small party, withdrew. CHP LEADER KEMAL KILICDAROGLUKilicdaroglu, 74, head of the main opposition Republican People's Party (CHP), was named the six-party opposition alliance's presidential candidate in March. Previously a staunch opponent of Erdogan, Bahceli's Nationalist Movement Party (MHP) began to work with the president and his AKP after a 2016 attempted coup. OPPOSITION FIGURES:IYI PARTY LEADER MERAL AKSENERFormer interior minister Meral Aksener, 66, leads the second-largest party in the opposition alliance, the centrist and nationalist IYI Party. ANKARA MAYOR MANSUR YAVASNationalist politician and lawyer Mansur Yavas, 67, defeated the AKP's Ankara mayoral candidate 2019 as the CHP candidate backed by an opposition alliance.
Factbox: Key players in Turkey's election campaign
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +6 min
Turkey's longest-serving leader logged more than a dozen election victories and survived an attempted coup in 2016. CHP LEADER KEMAL KILICDAROGLUKilicdaroglu, 74, head of the main opposition Republican People's Party (CHP), was named the six-party opposition alliance's presidential candidate in March. HOMELAND PARTY LEADER MUHARREM INCEFormer physics teacher and headmaster Muharrem Ince, 58, is seen as having little chance of becoming president. OPPOSITION FIGURES:IYI PARTY LEADER MERAL AKSENERFormer interior minister Meral Aksener, 66, leads the second-largest party in the opposition alliance, the centrist and nationalist IYI Party. ANKARA MAYOR MANSUR YAVASNationalist politician and lawyer Mansur Yavas, 67, defeated the AKP's Ankara mayoral candidate 2019 as the CHP candidate backed by an opposition alliance.
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