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Former President Donald Trump stood by his idea to end income taxes and substitute them with tariffs in a Friday interview with Joe Rogan, the host of one of the most widely listened to podcasts in the world. "Did you just float out the idea of getting rid of income taxes and replacing it with tariffs?" He has also said he would consider income tax exemptions for firefighters, police officers, military personnel and veterans. But tax experts and economic analysts do not think Trump's tariffs would be an adequate counterweight to balance the trillions lost from eliminating income taxes. In effect, these tariffs could replace income tax with a kind of new sales tax, shifting the tax burden more heavily onto low-income individuals.
Persons: Donald Trump, Joe Rogan, Rogan, Trump, Garrett Watson, Watson, Kamala Harris, MSNBC's Stephanie Ruhle Organizations: Austin, Bergstrom International Airport, Social Security, Tax Foundation, CNBC, U.S, Democratic Locations: Austin , Texas
The Dodgers and Yankees will face off in the MLB 2024 World Series. AdvertisementWhen the Dodgers and Yankees take the field to battle it out for the 120th World Series championship, the players won't be the only ones with trophies on the line. The financier is worth $6 billion, according to Forbes. Now, the team is owned by George's kids, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, and Jennifer Steinbrenner Swindal. Related storiesThe bulk of the Steinbrenners' fortune is tied up in the Yankees, which is MLB's most valuable franchise, worth $7.93 billion, according to Sportico.
Persons: Mark Walter, Steinbrenner, , Walter, Magic Johnson, Stan Kasten, I'm, Johnson, George Steinbrenner, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, Jennifer Steinbrenner Swindal, Forbes, I've, Marc Lasry, Sportico, Banks, Goldman Sachs, Ivo Voynov Organizations: Dodgers, Yankees, Sports, Service, Guggenheim Partners, Forbes, Atlanta Braves, Los Angeles, MLB, Los Angeles Times, CBS, franchise's YES, Major League Soccer's New, Major League Soccer's New York City FC, Legends Hospitality, Italian soccer, AC Milan, Professional, Yankee, Milwaukee Bucks, Citi Private Bank Locations: Major League Soccer's New York, Italian
Similar to Maureen, she's concerned about financial security for older Americans — but she will be supporting Vice President Kamala Harris. "He says that he's going to keep Social Security, but you never know with him," Klein told BI of Trump. CRP research suggests that's due to fewer older adults working traditional jobs and instead pursuing entrepreneurship to supplement their retirement incomes. AdvertisementJR Reed and Krista Geer, both in charge of county-wide aging agencies, have met with older adults in Pennsylvania to hear their top worries. Critics say it isn't tied to a measure that accurately reflects the spending of older Americans.
Persons: Harris, Trump, , Maureen, Donald Trump, he'll, she's, Heck, Federal Reserve —, Marjorie Klein, Kamala Harris, Klein, Bill Johnston, Walsh, Benjamin Glasner, haven't, Glasner, Mike Crossey, Crossey, Richard Fiesta, Fiesta, Kyle Kopko, Kopko, Bill Candelori, It's, Candelori, Josh Shapiro —, Democrat —, Jason Kavulich, it's, I've, JR Reed, Krista Geer, Geer, Reed, Brian Hughes, JD Vance, Kavulich Organizations: Pennsylvania, BI, Social Security, Service, Republicans, Biden, Trump, Federal Reserve, AARP, Cambria —, Economic Innovation Group, Security, Alliance, Retired, Center for, Democrat, Pennsylvania's, JR Locations: Pennsylvania, Philadelphia, AARP Pennsylvania, — Fayette, Cambria, Pittsburgh, Center for Rural Pennsylvania
In North Carolina, the signs read in Spanish, “WARNING: if you are not a citizen of the United States of America, you cannot vote in elections. Earlier this week, Forward Justice addressed a letter to the North Carolina State Board of Elections, calling for the signs to be removed because they constitute "unlawful voter intimidation." The letter was co-signed by nearly two dozen organizations, including the North Carolina chapter of the American Civil Liberties Union. It’s already illegal for noncitizens to vote in elections in North Carolina and at the federal level — and illegal voting rarely happens. Early voting in North Carolina ends on Nov. 2.
Persons: it's, , , Cleta Mitchell, Mitchell, Donald Trump’s, Kathleen Roblez, hotlines, Jaclyn Maffetore, Maffetore, Spanish Jim Womack, Womack Organizations: North, Democratic Oklahoma, Forward Justice, North Carolina State Board, American Civil Liberties Union, ACLU, noncitizens, Brennan, Cato Institute, Heritage Foundation, GOP, Homeland Locations: North Carolina, United States of America, Durham County, U.S, Spanish, Lee County
We're selling 100 shares of Wells Fargo at roughly $65 each. We're ringing the register on some Wells Fargo shares after a huge run since third-quarter earnings on Oct. 11. WFC YTD mountain Wells Fargo YTD Wells shares have been on a tear since the report, rallying from $57.75 to $65.50 — good for a gain of nearly 14%. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer's, YTD Wells, We're, Charlie Sharf, Jim Cramer, Jim Organizations: WFC, YTD, Fed, CNBC Locations: Wells Fargo, Wells
Counterfeiting has ballooned into a massive problem for Crye, costing it millions of dollars a year, said Jonathan Antone, the company's general counsel. By 2016, sellers were speaking out about Amazon's growing counterfeit problem, telling CNBC of the company's effort to openly court Chinese manufacturers. "There's a lot more space on that digital shelf for potential counterfeit products," he added. Agents seized "multiple tractor trailer loads" of counterfeit MultiCam products, estimated to be worth $8 million, according to court documents. Crye showed CNBC examples of counterfeit MultiCam products that were allegedly sold by retailer L&Q Tactical, one of the defendants in the lawsuit, on Amazon.
Persons: Ramin Kohanbash, Bernard Klein, Jonathan Antone, Crye, It's, it's, Counterfeits, Jason Goldberg, Goldberg, counterfeits, Kebharu Smith, Jeff Bezos, Bezos, Smith, We're, Antone, Ernesto Rodriguez, Crye's, Crye Precision's Ernesto Rodriguez Organizations: New York's Brooklyn Navy Yard, California, outfitters, California Surplus, CNBC, Amazon, Brand Registry, Justice Department, FBI, Prada, Homeland Security, Department of Defense, Agents, Crye Locations: New, New Jersey, America, Brooklyn, Brooklyn , New York, Arlington , Virginia, Texas, California
Kendrick said she went to couples therapy to find out what was wrong with the relationship. Although couples therapy has benefits, experts say it is important to find the right therapist. AdvertisementAnna Kendrick didn't have a good experience in couples therapy. However, going for couples therapy did not resolve the situation. "It didn't help that for a long period of time, our couples therapist, I think, just bought his stuff kind of hook, line, and sinker," she said.
Persons: Anna Kendrick, Kendrick, , Anna Kendrick didn't, Alex Cooper's, I'm, We're, Jillian Amodio, Colleen Marshall Organizations: Service, Business Insider Locations: San Francisco
Alex Craddock: I think as I sort of reflect on my career, there's probably four things that have really helped me be successful. I think as a marketer in a world that is evolving very, very fast, you need to be endlessly curious. I think what is interesting about the world that we work in today, whatever function you are in, no one can actually deliver on their own. It's so big and broad now as a CMO, you can't do it on your own. And I think if you want to be a successful leader, you've got to be kind and you've got to be able to lead with compassion and create that human connection.
Persons: Alex Craddock, there's, there'll, It's, we've, you've, We're
A torrent of big-name earnings hit the stock market this week — and the majority did not live up to analysts' muted expectations. Of the S & P 500 companies that have reported so far, about 74% of companies have beaten earnings expectations . But their blended earnings growth rate, which includes the reports already out and estimates for those on the docket, is 3.4%, falling short of the 4.2% estimate. The growth rate of just the companies that have posted so far is 3.1%, according to FactSet. Tech stocks buoyed the market on Friday ahead of their looming earnings reports, lifting the Nasdaq Composite to a record high.
Persons: Philip Morris, ServiceNow, Phillip Colmar, Colmar Organizations: CNBC, MRB Partners, Tech, Nasdaq, Dow Jones Locations: Colmar
'The Legend of Vox Machina' season 3's final batch of episodes dropped on Thursday. "The Legend of Vox Machina" has had three seasons of 12 episodes apiece so far. But it was based on a 115-episode-long "D&D" campaign, where each livestreamed episode clocked runtimes of three to four hours. "The Legend of Vox Machina" Prime Video animated series was based on Critical Role's first "D&D" campaign. Riegel told BI ahead of the third season's launch that the crew still has more stories to tell.
Persons: Vox, Sam Riegel, , Matthew Mercer, Liam O'Brien, Marisha Ray, Travis Willingham —, Mercer, Vax'ildan, O'Brien, Ray, Percival de Rolo, Taliesin Jaffe, Jaffe, Riegel, Anna Webber, CR's, Ronin Willingham, Travis Willingham's, Willingham, Jon Kopaloff, Amazon Studios Riegel, Percival, " O'Brien, CR, hasn't, we're Organizations: Service, Business, CR, Getty, Amazon Studios, Prime Locations: Whitestone —
Interior designer Jeremiah Brent will star in season nine of "Queer Eye," premiering in December. AdvertisementJeremiah Brent is a renowned interior designer, TV personality, author, podcaster, and now, one of the Fab Five on season nine of Netflix's "Queer Eye." After working as a styling associate for Zoe, Brent launched his own design firm, Jeremiah Brent Design (JBD), in 2011. Brent said there's 'no drama' with his 'Queer Eye' costarsBrent was already friends with "Queer Eye" fashion expert France prior to landing a spot on the show. In an interview with House Beautiful, published in March, Brent spoke positively about his experience with his "Queer Eye" costars.
Persons: Jeremiah Brent, Brent, Rachel Zoe Project, , Bobby Berk's, Jonathan van Ness, Karamo Brown, Antoni Porowski, Tan, Kelly Clarkson, Oprah Winfrey, Drew Barrymore, Zoe, Stefanie Keenan, Rachel Zoe, Jeremiah Brent Design, He's, Nate Berkus, Berkus, Poppy, Oskar, there's, Berk, Porowski, I've Organizations: Service, Covenant, Covenant House, Entertainment, Netflix Locations: LA, Tan France, Las Vegas, Modesto , California, Los Angeles, Covenant House Los Angeles, California, Hollywood, NYC, Manhattan, surrogates, France, Porowski
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're prepared to defend 'click-to-cancel' rule in court, says FTC's Douglas FarrarDouglas Farrar, FTC director of public affairs, joins 'Power Lunch' to discuss the FTC's click-to-cancel rule being challenged by media companies.
Persons: We're, FTC's Douglas Farrar Douglas Farrar
Abdul Rasheed Ghaffour, governor of Bank Negara Malaysia, during a news conference at Sasana Kijang Center, which houses Bank Negara Malaysia facilities, in Kuala Lumpur. Malaysia is working toward having the "the right ingredients" to finally claim "Asian Tiger" status, but must avoid the traps of widening inequality seen elsewhere. That's according to Abdul Rasheed Ghaffour, the governor of the central bank of Malaysia, who believes the southeast Asian country must avoid a "boom-bust cycle that has happened before." But it may be a case of better late than never, thanks to better-than-expected economic growth this year. Ghaffour said Malaysia is moving into producing logic chips — more advanced chips often know as the brains of electronic devices.
Persons: Abdul Rasheed Ghaffour, Ghaffour, Karen Tso, Donald Trump, Kamala Harris Organizations: Bank Negara Malaysia, Bank Negara, Washington , D.C, CNBC, Asian Tigers, Oxfam, Taiwan's, Budget, Accounting, Statistics, Tech, Intel, Economic, ASEAN, Republican, Democratic Locations: Bank, Bank Negara Malaysia, Kuala Lumpur, Malaysia, Hong Kong, Singapore, Taiwan, South Korea, Washington ,, Hong Kong's, Penang, European, U.S, Malaysian, Thailand, Indonesia .
TikTok Shop is preparing for the holiday season as it crosses one year since its US launch. The company is pushing live shopping, influencer partnerships, and other selling tactics. The company has courted a roster of creators to promote products in exchange for a commission on sales. Related storiesHow do you think about introducing TikTok users to live shopping? I am really curious about this idea of the TikTok Shop creator ... How do you think about working with that cohort and using them to help grow the platform?
Persons: Nico Le Bourgeois, , TikTok, Le Bourgeois Organizations: Service, Business, TikTok, Amazon, Walmart Locations: China, New York, LA, Seattle
Canada will reduce its target number of new permanent residents in 2025 from 500,000 to 395,000. Justin Trudeau said the new target will pause population growth in Canada over the next few years. He said Canada needed to "pause population growth and let our economy catch up," adding that while immigration was "essential" for Canada's future, it must be controlled and sustainable. Canada's population hit 41 million in April, with immigration accounting for almost 98% of population growth last year. In an interview with Bloomberg, Miller said he was not worried about the slowing population growth from immigration cuts having a negative impact on the economy.
Persons: Justin Trudeau, , didn't, Trudeau, Marc Miller, Miller, we're Organizations: Service, Canada, Foreign Relations, CFR, Canada Mortgage, Housing Corporation, Bloomberg Locations: Canada, Ottawa
Sparking controversy is language within the USMCA that covers how a product gains the "Made in Mexico" designation from U.S. Customs. There is bipartisan concern about Mexico serving as a trade "back door" for Chinese exports to evade tariffs. Trump threats not slowing trade boom Trump has said he wants to renegotiate the USMCA deal he struck with the North America partners in 2020. Chinese manufacturing in Mexico will be a likely part of the trade renegotiation. Threats of additional tariffs are not slowing down trade with Mexico.
Persons: Donald Trump, Zekelman, San Luis Potisi, Jordan Dewart, Biden, Trump, Mary Lovely, Anthony Solomon, Dewart Organizations: U.S . Customs, Zekelman Industries, Bloomberg, Getty, Peterson Institute for International Economics, Trump, North America, Companies, DHL, Uber, Moody's Analytics Locations: United States, Mexico, Canada, U.S, North America, Republic of Mexico, Beach, Calif, Chicago, San Luis, Luis Potisi, Redwood Mexico, China, Mexican, El Paso, Laredo , Texas, East Asia
Investors agree: Short-term rentals are more lucrative but require more time than long-term rentals. Grant puts up with the occasional blow-up because her Airbnb units bring in a lot more money than her long-term rentals. Especially with higher interest rates, which increase your monthly mortgage payment, "long-term rentals are just hard," said seasoned real-estate investor Zeona McIntyre. Courtesy of Amberly GrantFull-time real-estate investor Avery Heilbron categorizes short-term and long-term rentals as "two completely different things." AdvertisementThe 'sweet spot' of real-estate investing: Mid-term rentalsShort- and long-term rentals aren't the only options for real-estate investors.
Persons: , Amberly Grant, Grant, Zeona McIntyre, Avery Heilbron, There's, McIntyre, Covid, Airbnb, she'd, Heilbron, Peter Keane, Rivera, he's, Keane Organizations: Service Locations: Colorado, Boulder, Seattle
Total money market fund assets have ballooned to more than $6.5 trillion, according to the Investment Company Institute. Traditional money market fund transactions take place at the end of each trading day, while ETFs trade constantly during market hours. How it works The Texas Capital ETF holds very short-term fixed income instruments, similar to traditional money market funds. It will abide by rule 2a-7 , a U.S. Securities and Exchange Commission regulation that governs the liquidity of holdings in traditional money market funds. Looking forward The potential market for a money market ETF is massive.
Persons: Michael Carbone, That's, Richard Leimgruber, Jeff Schwartz, Brad Roth, Roth Organizations: Texas Capital, Money Market, Federal Reserve, Investment Company Institute, CNBC, U.S . Securities, Exchange Commission, Wealth, ICI, The Texas Capital, Thor Financial Technologies Locations: Texas, Chelmsford, Mass, Tarrytown , New York
In today's big story, inside Amazon's internal pitch for turning to nuclear power to meet its growing energy needs . AdvertisementThat's led Big Tech to consider nuclear power to address its skyrocketing energy requirements. Nuclear power ticks that box better than other clean energy options like solar or wind. Nuclear power, meanwhile, is an industry in desperate need of some love , BI's Daniel Geiger and Ellen Thomas previously reported. From advertising platforms to AI tech companies, here's the startups to watch .
Persons: , Jocko Willink, we've, Jenny Chang, Rodriguez, That's, Business Insider's Eugene Kim, Andy Jassy, it's, Sam Altman, Eugene, BI's Hasan Chowdhury, BI's Daniel Geiger, Ellen Thomas, Jim Burke, Vistra, Chelsea Jia Feng, Elon Musk, Jean Boivin, He's, Marc Benioff isn't, bashed, Miles Brundage, OpenAI, Emma Tucker's, Tucker, Mike Jeffries, SpaceX's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Navy, Big Tech, Amazon, Microsoft, Google, Keystone, Hulton, Constellation Energy, Getty, EV, BlackRock Investment Institute, San Francisco, BI, AGI, Abercrombie, Fitch Locations: Fukushima, Pennsylvania, Arizona, New York, London
Investors will contend with earnings results from five of the Magnificent Seven companies next week. .SPX 1M mountain S & P 500 "I sort of refer to this period that we're in right now as like a strange brew," said Mark Malek, investment chief at Siebert. On Friday, the Nasdaq Composite hit an all-time high , but the S & P 500 snapped a six-week win streak. In fact, the high concentration of the mega-cap leaders in the S & P 500 spurred Goldman Sachs' David Kostin this month to release a dim long-term forecast for the overall market. HSBC head of equity strategy Nicole Inui upped her S & P 500 year-end target to 5,900.
Persons: Mark Malek, Siebert, Goldman Sachs, David Kostin, Siebert's Malek, they've, Nicole Inui, Inui, D.R Horton, Price, Eli Lilly, Lauder Organizations: Microsoft, Meta, Apple, Nasdaq, U.S, Treasury, Big Tech, HSBC, FactSet, Richmond Fed, Dallas Fed, Ford, Semiconductor, Caesars Entertainment, Devices, Pfizer, Royal Caribbean Group, PayPal, ADP, Kraft Heinz, Caterpillar, GE Healthcare Technologies, Holdings, ECI Civilian Workers, PCE, PCE Deflator, Chicago PMI, Cruise Line Holdings, Uber Technologies, Lauder Companies, Mastercard, Generac, Jobs, PMI, Manufacturing, Exxon Mobil Locations: U.S, Chicago
“They unleashed an army and of migrant gangs waging a campaign of violence,” said Trump, who regularly employs dehumanizing language when talking about undocumented immigrants. We're like a garbage can for the world.”Immigration has been a major focus for Trump throughout the campaign, highlighting on stories about undocumented immigrants committing crimes and blaming them for a surge in violence. “Like, let’s just fix this thing.”Arizona is among a handful of swing states expected to ultimately determine the race between Trump and Harris. Early in-person voting began in the state earlier this month, which has drawn visits from both Trump and Harris. Recent public polling has show Trump with a slight advantage in the state, but within the margin of error.
Persons: Donald Trump, , , Trump, Anna Moneymaker, Joe Biden, ” Trump, Kamala Harris, he's, Harris, ” Harris Organizations: Trump, Mullett, Border Patrol, CNN Locations: United States, Tempe, Ariz, Arizona, Mexico, Pennsylvania
An encampment of unhoused people in downtown New Orleans was forcibly relocated by the order of Louisiana Gov. Jeff Landry ahead of this weekend's Taylor Swift concerts, disrupting monthslong housing efforts with less than a week's notice. "It's not like Taylor Swift all of a sudden decided to come to New Orleans," Harris said. We, as a city, knew that Taylor Swift was coming, but there wasn't a conversation had other than last Friday." "So this is working, what we're doing is working," Harris said.
Persons: Jeff Landry, Taylor Swift, Lesli Harris, Swift, Harris, rumblings, Landry, Kate Kelly, ” Kelly, Burger, Joseph Neiswander, Helena Moreno, WDSU, Nathaniel Fields, Nola.com, Taylor Organizations: Louisiana Gov, Caesars Superdome, NBC News, New, Louisiana State Police’s, Louisiana State Police, State, Good, Burger King Locations: New Orleans, Louisiana, Orleans, Nola.com
Donald Trump pumps his fist as he is rushed offstage during a rally in Butler, Pa., on July 13. "Kamala has failed over the last four years and only President Donald J. Trump can fix the problems that are facing our nation," Trump campaign senior adviser Danielle Alvarez said in a statement of the closing argument. “Under Harris’ time in the White House, our nation’s strength has been squandered," a Trump campaign adviser said. But there's a tension between the focus Trump’s campaign has kept on those issues and his desire to wander into different territory. Only President Trump cut middle-class taxes, and only President Trump will do it again.”Brad Todd, a Republican strategist who isn’t working for Trump, said the spot "does a great job of channeling the overarching current that can push him over the line" by arguing that "America's on the wrong track and you can't keep the same people in charge."
Persons: Donald Trump, Anna Moneymaker, Trump, Kamala Harris, Kamala, Donald J, Danielle Alvarez, Joe Biden, Harris, Israel —, Biden —, Harris —, ” Trump, Biden, , , Arnold Palmer's, ” Brad Todd, Todd Organizations: Democratic, Trump, NBC, , Economic, of Chicago, Republican Locations: Butler, Pa, New York, Gaza, Ukraine, Iran, East, Russia, China, U.S, North Carolina
Dow stock Honeywell was one of the biggest drags on the 30-stock average Thursday after Club industrial giant reported mixed third-quarter results compounded by a mixed outlook. HON YTD mountain Honeywell YTD Honeywell shares sinking 4.5% after the release was understandable but represents an opportunity. Honeywell Why we own it: Honeywell is a provider of industrial technology solutions to companies in various industries. Sales were revised lower because the short cycle recovery in the company's industrial automation segment is not materializing as quickly as management was expecting. Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York.
Persons: we're, Vimal Kapur, Kapur, Kupar, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Dow, Honeywell, Emerson, CAES Systems, Air Products, Aerospace Technologies, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York
Michelle Panning, a relationship coach, documented herself trying "rejection therapy" for 30 days. While not an officially recognized form of therapy, 2 therapists said it's a form of exposure therapy. It inspired Panning to try it herself, documenting a 30-day rejection therapy challenge on her TikTok channel. While "rejection therapy" isn't a research-backed form of therapy (it was originally coined as the name of a card game by developer Jason Comely), both Goldberg and Farina said that gradual exposure to rejection can help build confidence. Start smallIf you want to try your own version of rejection therapy, start small and cater it to whatever feels like a stretch, Goldberg said.
Persons: Michelle, , Jia Jiang, Jiang, desensitized, Rachel Goldberg, Gen Zers, Lauren Farina, Jason Comely, Goldberg, Farina, I'd Organizations: Service, Technology
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