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☆ Is Biden's $39 billion student loan forgiveness action legal? 'Be assured it's going to stay,' says expert
▼ + stars: | 2023-07-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Demetrius Freeman/The Washington Post via Getty ImagesHow are the two loan forgiveness actions different? There are four of these plans, which aim to make loan payments more affordable for lower earners. That law gave the president power to revise student loan programs during national emergencies. The Trump administration had leveraged the Heroes Act to implement a student loan payment pause at the onset of the Covid-19 pandemic. However, Congress has already authorized loan forgiveness relative to income-driven repayment plans, dating to when it created them in the 1990s.

Persons: Joe Biden, Education Miguel Cardona, Demetrius Freeman, —, Biden, hasn't, Virginia Foxx, Abby Shafroth, who've, Trump, Shafroth, Kantrowitz Organizations: U.S, Education, Washington, Getty, White, U.S . Department of Education, Department of Education, National Consumer Law Center, National Consumer Law, of Education

☆ How much you need to earn to be in the top 1% in every U.S. state
▼ + stars: | 2023-07-18 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

In Connecticut, households need to earn an annual income of $952,902 or more to be part of the top 1% of earners. While residents in more urban states tend to earn more, they also generally have a higher cost of living, which somewhat offsets those larger incomes. ConnecticutTop 1% income threshold: $952,9022. MassachusettsTop 1% income threshold: $903,4013. West VirginiaTop 1% income threshold: $367,582DON'T MISS: Want to be smarter and more successful with your money, work & life?

Persons: That's Organizations: Connecticut, Massachusetts, California, . New, Washington, New York, Colorado, Florida, Illinois, New Hampshire, Wyoming, Virginia, Maryland, Texas, Utah, Minnesota, Nevada, South Dakota, Pennsylvania, . North Dakota, Georgia, Oregon, Arizona, Idaho, North Carolina, Montana, Kansas, Rhode, Tennessee, Alaska, Nebraska, Delaware, Vermont, Wisconsin, South Carolina, Michigan, Maine, Missouri, Ohio, Hawaii, Iowa, Indiana, Alabama, Oklahoma, Louisiana, Arkansas, Kentucky, New, Mississippi, West Virginia Top Locations: Connecticut, West Virginia, California, New York, Southern, Mississippi, Iowa, . New Jersey, New Mexico

☆ Sotomayor says Supreme Court is opening the door to racial discrimination and sending 'the message that we live in a society with social castes'
▼ + stars: | 2023-06-30 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

In her dissent, Justice Sotomayor argued that the ruling could allow for racial discrimination too. She also said the court sends the symbolic message that "we live in a society with social castes." Sotomayor argued that the logic of the case could easily be extended to allow for racial discrimination as well. "A website designer could equally refuse to create a wedding website for an interracial couple, for example," Sotomayor wrote. "Apparently, a gay or lesbian couple might buy a wedding website for their straight friends," Sotomayor wrote.

Persons: Sotomayor, —, Sonia Sotomayor, Lorie Smith, Smith, — Sotomayor, George Organizations: Service, Creative, Black Americans Locations: Colorado, United States, Virginia

The Supreme Court ruled on Friday to strike down President Joe Biden's student-loan-forgiveness plan. Republicans, who had said the plan was unfair and unconstitutional, immediately celebrated. Republican lawmakers — many of whom had been outspoken critics of the plan — were happy to see it. Rep. Virginia Foxx, the GOP chair of the Education and Workforce Committee and an outspoken opponent of Biden's plan, wished "good riddance" to Biden's "illegal, economically disastrous taxpayer-funded bailout for the wealthy." Other Republicans took aim at the plan's constitutionality and claims that the relief was unfair, talking points that the GOP seized upon after Biden first introduced the plan.

Persons: Joe Biden's, —, Bill Cassidy, Cassidy, Brown, Biden, Virginia Foxx, Biden's, Foxx, Kevin McCarthy, Nancy Pelosi's, McCarthy, Rep, Pfluger, John Thune, Thune, Eric Schmitt, shouldn't, Schmitt Organizations: Republicans, Service, Republican, Health, Education, Labor, Pensions, Biden, US Department of Education, . Nebraska, GOP, MOHELA, Workforce Committee, Twitter, White Locations: ., Rep, Texas, South Dakota, Missouri

☆ Biden's Education Department is 'ill prepared' to resume student-loan payments for millions of borrowers in 3 months, 2 GOP lawmakers say — and they're demanding 'proof' of a repayment strategy
▼ + stars: | 2023-06-28 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October. GOP Rep. Foxx and Sen. Cassidy asked the Education Department for its strategy on the resumption. They said they're concerned the department is "ill prepared" to transition borrowers back into repayment. Two Republican lawmakers want to know how the Education Department is preparing for that to happen. Since March 2020, federal student-loan payments — and interest — have been on pause to provide borrowers with financial relief during the pandemic.

Persons: Foxx, Sen, Cassidy, they're, —, Joe Biden's, Miguel Cardona, Biden, Virginia Foxx, Bill Cassidy, Cardona, Mr Organizations: GOP, Education Department, Service, Department, Politico, Federal Student

☆ Amazon HQ2 is not matching the original hype. The economy is partly to blame
▼ + stars: | 2023-06-20 | by ( Scott Cohn | ) www.cnbc.com time to read: +2 min

When Amazon first announced plans for a second corporate headquarters in 2017, it set off an epic bidding war. Virginia beat 237 competitors to win the project, and when it finally opened last week in the Crystal City section of Arlington, Virginia Gov. "We have high expectations because they are well placed," he told Amazon employees, "on an organization that delivers on promises made." But those promises from Amazon have changed dramatically from the original vision, which called for a $5 billion complex with 50,000 employees. Then, when local opposition blew up in New York, Amazon decided to ditch New York, put 25,000 employees in Arlington, and spread the rest among its other North American hubs.

Persons: Glenn Youngkin, there's, Holly Sullivan, Tom Stringer Organizations: Amazon, Arlington , Virginia Gov, Companies, BDO Locations: Virginia, Crystal, Arlington , Virginia, New York, States, Arlington, Queens , New York

☆ Here's what an overbought market and endless negativity tell me to do this week
▼ + stars: | 2023-06-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

There are too many articles and postings about how we are overdoing artificial intelligence, and how there's not enough substance to justify recent market moves. Still, I am worried about this week because for the first time in a bit I think we need to do some serious digesting. Given the market is officially overbought, I think I will wait until we have a couple of days down before it's worth pulling the trigger. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: That's worrisome, Joe Biden's, Campbell, Jim Cramer's, Jim Cramer, Jim, Squawk, Virginia Sherwood Organizations: Nasdaq, Nvidia, Microsoft, Google, Oracle, Broadcom, Marvell, Research, Federal Deposit Insurance Corporation, Walmart, Costco, Adobe, Strategic Petroleum Reserve, Federal Reserve, CNBC

☆ Who is Amy Entelis? CNN exec who lead award-winning documentary unit will take over from Chris Licht
▼ + stars: | 2023-06-07 | by ( Trisha Gopal | ) www.businessinsider.com time to read: +3 min

Entelis notably led the network's original series and feature-length documentary unit. Entelis, who joined joined CNN in 2012, revitalized the network's original series and feature-length documentary unit, launching high-profile shows like "Parts Unknown" with Anthony Bourdain and "Stanley Tucci: Searching for Italy." Entelis notably lead the charge at CNN Films, the network's longform documentary unit. According to the company's website, Entelis has been responsible for overseeing 45 documentary series and 60 feature length films, earning CNN 100 awards and 445 nominations. Before joining CNN, Entelis spent three decades at ABC, where she managed talent for shows like "20/20," "Good Morning America," "Nightline," and "World News Tonight."

Persons: Chris Licht, Amy Entelis, Entelis, Jeff Zucker, Anthony Bourdain, Stanley Tucci, Alexei Navalny, Licht, David Zaslav, David Leavy, Zaslav's, Virginia Moseley, Eric Sherling, Chris, Zaslav Organizations: CNN, Morning, CNN Worldwide, CNN Films, BAFTA, ABC, Warner Bros, Discovery Locations: Italy

☆ China leads tech race, highlighting need for AUKUS sharing, says think-tank
▼ + stars: | 2023-06-05 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

The U.S. leads quantum computing - the next generation of computers expected to solve once unsolvable problems and enable faster communication. Quantum sensors could be used in threat detection for defence, ASPI said. The combined strength of AUKUS nations made them competitive with China in half of the technologies, it said. The transfer of nuclear-powered submarine technology -- an area where the U.S. holds a capability edge over China -- to Australia is the highest-profile AUKUS project. The legislative proposals are "necessary steps for the AUKUS nuclear-powered submarines program," Conroy said in a statement.

Persons: Read, ASPI, for Defence Industry Pat Conroy, Conroy, Joe Biden, Kirsty Needham, William Maclean Organizations: National Congress, Communist Party of, Australian Strategic Policy Institute, China, for Defence Industry, U.S . Congress, U.S . Navy, Thomson Locations: Communist Party of China, SYDNEY, China, Australia, Britain, U.S, Beijing, Russia, Germany, Baltic, The U.S, Moscow, . Virginia, Virginia, Sydney

☆ Online College Classes Are Making the Student Debt Crisis Worse
▼ + stars: | 2023-06-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +18 min

She applied and was accepted to the online program in 2020. In exchange for expanding course offerings and recruiting students, OPMs receive a big chunk of the tuition revenue from the online programs, which usually cost the same as in-person schooling. While it's not always the case, many experts and grads told me that OPMs were offering online students a worse education for a sky-high price. A third-party provider to those schools, 2U signs a contract to offer services such as recruiting and technology to boost online enrollment. OPMs have helped fuel the student debt crisis, saddling may students with tens of thousands of dollars worth of debt and an uncertain future.

Persons: Iola Favell, Favell, Rossier, Zavareei, USC Rossier, OPMs, it's, grads, Eric Rothschild, John Katzman, Katzman, Clare McCann, McCann, —, Aaron Ament, Barack Obama, That's, STEFANI REYNOLDS, Helen Drinan, Cabrini University —, Drinan, Democratic Sens, Elizabeth Warren, Tina Smith, Sherrod Brown, Pearson, Rosa DeLauro, Virginia Foxx, Ament Organizations: University of Southern California's Rossier School of Education, USC, Student Defense, Zavareei LLP, US, Education Department upended, Education Department, Arnold Ventures, OPM, Office, Los Angeles Times, Wall Street, Canyon University, Grand Canyon, Century Foundation, Getty, Cabrini University, Simmons University, Democratic, GAO, Republican, GOP, Universities, Protection, Consumer Financial, Bureau Locations: California, Georgetown, —, Pennsylvania, Massachusetts

☆ Online College Class Providers Screwing Over Students, Adding to Debt Crisis
▼ + stars: | 2023-06-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +18 min

She applied and was accepted to the online program in 2020. In exchange for expanding course offerings and recruiting students, OPMs receive a big chunk of the tuition revenue from the online programs, which usually cost the same as in-person schooling. While it's not always the case, many experts and grads told me that OPMs were offering online students a worse education for a sky-high price. A third-party provider to those schools, 2U signs a contract to offer services such as recruiting and technology to boost online enrollment. But beyond scandals, the everyday business of OPMs is leaving many online students with exorbitant bills, despite how cheap it is to administer the courses.

Persons: Iola Favell, Favell, Rossier, USC Rossier, OPMs, it's, grads, Eric Rothschild, John Katzman, Katzman, Clare McCann, McCann, —, Aaron Ament, Barack Obama, That's, STEFANI REYNOLDS, Helen Drinan, Cabrini University —, Drinan, Democratic Sens, Elizabeth Warren, Tina Smith, Sherrod Brown, Pearson, Rosa DeLauro, Virginia Foxx, Ament Organizations: University of Southern California's Rossier School of Education, USC, Student Defense, US, Education Department upended, Education Department, Arnold Ventures, OPM, Office, Los Angeles Times, Wall Street, Canyon University, Grand Canyon, Century Foundation, Getty, Cabrini University, Simmons University, Democratic, GAO, Republican, GOP, Universities, Protection, Consumer Financial, Bureau Locations: California, Georgetown, —, Pennsylvania, Massachusetts

☆ Joe Manchin is set to get a big win out of the debt ceiling deal on a gas pipeline that Virginia Democrats and environmentalists hate
▼ + stars: | 2023-05-31 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Sen. Joe Manchin, a West Virginia Democrat, has long pushed for a controversial gas pipeline. The debt ceiling deal will likely force federal agencies to approve the project's remaining permits. The Democrat and his fellow West Virginia lawmakers have for years pushed for the completion of a controversial 303-mile pipeline that would carry Appalachian shale gas from northwestern West Virginia to southern Virginia. Virginia's Democratic lawmakers are staunchly opposed to the pipeline provision. He plans to file an amendment to remove this harmful Mountain Valley Pipeline provision."

Persons: Sen, Joe Manchin, —, Joe Biden, Kevin McCarthy, Manchin, McCarthy, Manchin didn't, Virginia Sens, Tim Kaine, Mark Warner, Kaine, Jennifer McClellan, Kaine doesn't, John Podesta, Tim Kaine's Organizations: West, West Virginia Democrat, Service, Democrat, Republicans, Democratic, Appeals, Circuit, Democratic House, Washington Post Locations: West Virginia, Virginia, America

☆ The GOP's bill to permanently block Biden's student-debt relief could cause public servants' loan balances to unexpectedly balloon if it passes, advocacy groups say
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The SBPC and AFT released a report analyzing the impacts of a GOP bill to overturn student-debt relief. GOP Rep. Virginia Foxx rejected that idea during a hearing last week as Democrats said loans would be reinstated under the bill. However, the text of the CRA statute could suggest the GOP bill might do far more than block Biden's broad debt relief and the student-loan payment pauses. "This resolution will unwind debt relief already delivered to hundreds of thousands of public service workers across the country. The report also estimates that two million public servants making progress toward payments in PSLF could lose "at least some progress toward relief."

We're initiating a position in GE Healthcare (GEHC), buying 325 shares at roughly $79 each. GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions. GE Healthcare is one of the global leaders in Precision Diagnostics with an industry-leading injectable pharmaceutical portfolio in contrast media and molecular imaging. GE Healthcare is one of a few companies that offer a full suite of products and solutions to support patients. GEHC YTD mountain GE Healthcare YTD performance Analysts see GE Healthcare growing EPS to $4.33 in 2024, about a 15% increase from this year's outlook.

☆ Student-loan borrowers need more 'individual responsibility,' a top GOP lawmaker says as the House advances a bill to block Biden's debt cancellation
▼ + stars: | 2023-05-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A GOP resolution to block student-debt cancellation advanced out of the House education committee on Wednesday. The bill heads to a full House vote, but it's unlikely to pass a Democratic-controlled Senate. 45 is the first step in restoring individual responsibility and solving the root challenges of the student loan system." Republicans have expressed similar sentiments since the lead up to Biden's announcement of broad debt relief. "Let's be clear: this resolution to eliminate student debt relief would hurt millions of student borrowers and their families," he added.

☆ Thousands rally in Australia against potential submarine base
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 6 (Reuters) - Thousands of people rallied on Saturday against a future nuclear-powered submarine base at Port Kembla in eastern Australia as part of the A$368 billion ($244.1 billion) AUKUS defence pact with the United States and Britain. The second-largest coal export port in New South Wales state is the Defence Department’s preferred site for a new east-coast submarine base, according to state broadcaster ABC. Australian Defence Minister Richard Marles said last month no decision had been made on a site for a new east coast submarine base. Prime Minister Anthony Albanese has defended the submarine project after two former leaders criticised the deal over its cost, complexity and potential sovereignty issues. The deal unveiled in March will see Australia purchase U.S. Virginia-class submarines before joint British and Australian production of a new submarine class to be built in Australia by the early 2040s.

☆ House Republicans are planning the first vote to overturn Biden's student-loan forgiveness next week
▼ + stars: | 2023-05-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In March, Republican lawmakers introduced a resolution to overturn Biden's student-debt relief. The House education committee is planning to vote on the bill next week, a spokesperson confirmed to Insider. Even if the resolution passes the House, it likely won't progress in a Democratic-controlled Senate. That hasn't stopped Republicans from coming up with their own plans to block debt relief from happening. Along with the CRA, Speaker of the House Kevin McCarthy's bill to raise the debt ceiling — which passed the House last week — including banning Biden's student-loan forgiveness and blocking any future relief.

☆ Regular internet use may be linked to lower dementia risk in older adults, study says
▼ + stars: | 2023-05-03 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

A study published Wednesday in the Journal of the American Geriatrics Society suggested that older people who regularly used the internet were less likely to develop dementia. Scientists still don’t know what causes dementia, so the new research can’t pinpoint the exact connection between internet usage and brain health. A 2020 study found an association between cognitively stimulating jobs and a lower risk of dementia, for example. Research also suggests that most older adults most frequently use the internet for basic tasks like email, news or online banking. And learning new skills may be protective against dementia, studies suggest.

PANW YTD mountain Palo Alto Networks YTD About half of the funds raised from this Lilly sale will go into building up our position in Palo Alto Networks . But here is our problem with reading too much into the conference calls of Tenable and Cloudfare and extrapolating that to Palo Alto. While it is highly likely that deal uncertainty increased out of the regional banking crisis, Palo Alto Networks is in a special class within the industry because it is taking share from the little guys. As a market leader in thirteen categories within security, Palo Alto is a winner from what is happening in the market. And with a management team committed to profitable growth and accelerating leverage in the business, we think Palo Alto Networks will continue to surprise to the upside.

☆ AUKUS nuclear submarine cost includes 50% fund for unexpected overruns
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, April 28 (Reuters) - Australia's defence minister said on Friday the government was being "upfront and transparent" about the cost of its AUKUS nuclear submarine programme, after an analysis showed the forecast A$368 billion cost included a 50% contingency fund. The Greens party, which commissioned the analysis by the Parliamentary Budget Office, said it showed the "huge" uncertainty over the project. In a second phase, Australia and Britain will build an AUKUS class submarine, with Australia receiving its first submarine in the early 2040s. read moreAustralia's Parliamentary Budget Office has reported the cost estimate over three decades includes a contingency of A$123 billion. The report showed most of the cost of the submarine programme will be incurred in the two decades from 2033.

☆ Here’s our April rapid-fire update on the stocks in Cramer’s Charitable Trust
▼ + stars: | 2023-04-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

When AMD reports earnings next week, we'll be looking for signs that its integration of Xilinx has proven a success. Amazon (AMZN): Investors will be looking closely at profit margins and the growth rate at cloud unit Amazon Web Services when the company reports earnings after the closing bell Thursday. After a disappointing fourth-quarter print, we're hoping to see evidence that CEO Jim Farley has righted the ship. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ For LSU and South Carolina, It’s the Final Four of Sideline Style
▼ + stars: | 2023-03-31 | by ( Rory Satran | ) www.wsj.com time to read: +1 min

When Louisiana State University women’s basketball coach Kim Mulkey strode from the court after yet another win last month, she peeled off her pink butterfly-bedazzled blazer. The move was more rock star than 60-year-old college coach, but it was in keeping with Ms. Mulkey’s razzle-dazzle. Ms. Mulkey, along with the University of South Carolina’s Dawn Staley, is leading the charge for a new wave of women’s college basketball coaches using fashion as a crucial part of their public image. Friday night, in the hotly anticipated Women’s Final Four, millions worldwide will be tuning in to watch the formidable face-offs of South Carolina vs. Iowa, and LSU vs. Virginia Tech. Many of them will also be paying close attention to what Ms. Staley and Ms. Mulkey, superstar, title-winning coaches who earn seven-figure salaries, are wearing.

☆ Australia did not vow to help US defend Taiwan in submarine deal -minister
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 19 (Reuters) - Australia "absolutely" did not promise to support the U.S. in any military conflict over Taiwan in return for a deal to acquire U.S. nuclear-powered attack submarines, Australia's Defence Minister Richard Marles said on Sunday. Canberra is to buy the U.S. Virginia-class military submarines, with Britain and Australia eventually producing and operating a new submarine class, SSN-AUKUS. Australia's centre-left Labor government says the A$368 billion ($246 billion) deal is necessary given China's military buildup in the region, which it has labelled the largest since World War Two. He said there was "absolutely not" a quid pro quo obligation on Australia from the deal. President Joe Biden has said the U.S. would defend Taiwan in the event of "an unprecedented attack" by China.

☆ Australia PM defends AUKUS submarine deal against critics
▼ + stars: | 2023-03-16 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden, Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak deliver remarks on the Australia - United Kingdom - U.S. (AUKUS) partnership, after a trilateral meeting, at Naval Base Point Loma in San Diego, California U.S. March 13, 2023. REUTERS/Leah MillisSYDNEY, March 16 (Reuters) - Australian Prime Minister Anthony Albanese on Thursday defended the country's A$368 billion ($244.06 billion) plan to acquire nuclear submarines, after two former leaders criticised the deal over its cost, complexity and potential sovereignty issues. Unveiled on Tuesday in San Diego, the multi-decade AUKUS project will see Australia purchase U.S. Virginia-class submarines before joint British and Australian production and operation of a new submarine class, SSN-AUKUS. Opting for nuclear submarines in the U.S.-Britain alliance over conventional alternatives would leave Australia with fewer submarines while constraining the country's ability to operate independently of the United States, he said. Some analysts have argued nuclear submarines are preferable because their superior range and stealth will help protect Australia's trade routes from Chinese aggression.

☆ The Missing U.S. Submarines for Australia
▼ + stars: | 2023-03-15 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

President Biden in San Diego on Monday announced a deal to help Australia acquire U.S. nuclear-powered submarines, a step forward by a stalwart ally to check Beijing. But Mr. Biden isn’t highlighting the dysfunctions in American submarine production, nor the urgent need for a generational effort to expand the U.S. Navy’s undersea fleet. The Pacific and the world are at “an inflection point,” that will “affect the prospect of peace for decades to come,” as Mr. Biden said on Monday, and the submarine deal is an expansion of Aukus, the 2021 defense pact among the U.S., U.K. and Australia. The agreement has three planks: Putting submarines on station Down Under; offering the Aussies at least three U.S. Virginia-class attack submarines in the early 2030s; and a new, late 2030s submarine that blends British design and U.S. technology.

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