DIRS.INFO The most relevant business & tech news

☆ Bitcoin jumps as markets see increased odds of election victory for pro-crypto Trump
▼ + stars: | 2024-07-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world's biggest cryptocurrency, bitcoin, was up around 5% at 1:40 p.m. London time, to $62,781.48, according to CoinGecko. The rally follows the dramatic failed assassination attempt on former President Trump on Saturday. Investors said over the weekend they expected so-called "Trump victory trades" to receive a boost. The Trump campaign began accepting donations from the crypto industry in May and his messaging has become increasingly positive on the future of such digital assets.

Persons: Bitcoin, Donald Trump, Trump, Reagan, Ben Emons, Trump's favorability, Zach Pandl, Sen, Elizabeth Warren Organizations: U.S, FedWatch Advisors, Investors, Trump, CNBC, Republican Locations: London

☆ Democrats ask Raimondo to step up enforcement on CHIPS funding
▼ + stars: | 2024-07-01 | by ( Emily Wilkins | ) www.cnbc.com time to read: +2 min

WASHINGTON — A group of Democrats are raising concerns as to whether companies that received federal funding for semiconductors used the money to support stock buybacks - and criticizing their own party over how the awards are given. Raimondo has stated that CHIPS funding is not meant to pad companies' bottom lines or support stock buybacks. But lawmakers urged her to go further, and ban stock buybacks for companies that receive CHIPS funds. About $33 billion of funding from the CHIPS Act has been allocated, mostly to major companies. It also said decisions on buybacks were independent from any funds released through the CHIPS Act.

Persons: Gina Raimondo, WASHINGTON, Sen, Elizabeth Warren, Sean Casten, Bill Foster of, Pramila, Pat Gelsinger, Raimondo, Warren Organizations: Science, Technology, Washington , D.C, CNBC, BAE Systems, Intel, Yahoo, Finance, Microelectronics, Commerce Department Locations: Rayburn, Washington ,, Bill Foster of Illinois, Washington

☆ NYT Editorial Board calls for Biden to leave the 2024 presidential race
▼ + stars: | 2024-06-28 | by ( Brian Rokus | ) edition.cnn.com time to read: +3 min

CNN —The New York Times Editorial Board is calling on President Joe Biden to leave the race for the White House after his performance at CNN’s presidential debate. He struggled to hold Mr. Trump accountable for his lies, his failures and his chilling plans. “The greatest public service Mr. Biden can now perform is to announce that he will not continue to run for re-election. There is no reason for the party to risk the stability and security of the country by forcing voters to choose between Mr. Trump’s deficiencies and those of Mr. Biden. “The last time Joe Biden lost the New York Times editorial board’s endorsement, it turned out pretty well for him,” Biden campaign co-chair Cedric Richmond told CNN.

Persons: Joe Biden, “, Trump, Biden, It’s, Donald Trump, ” Biden, Cedric Richmond, Amy Klobuchar, Elizabeth Warren, ”, David Axelrod, Axelrod, Alex Wagner, ” Wagner, Betsy Klein, Kasie Hunt, MJ Lee, Lauren Fox, Kayla Tausche, Arlette Saenz, Hadas Gold Organizations: CNN, The New York Times Editorial, White, Democratic, Trump, Times, Biden, New York Times, The Times, The New York Times, —, MSNBC

☆ The debate night contrast Biden hopes will win the 2024 election
▼ + stars: | 2024-06-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —The Almighty won’t be standing on stage alongside Joe Biden on Thursday night. Biden’s campaign laid the groundwork for the Atlanta showdown hosted by CNN in a weekend memo. If Trump rants and vents his 2020 election lies on Thursday, he will play into Biden’s hands. That could avoid the mayhem of the first Trump v. Biden debate in 2020. His campaign has spent days trying to roll back his expectations of Biden as a doddering, elderly president who can’t string two words together.

Persons: Joe Biden, Donald Trump, “, ‘ Joey, don’t, Trump, ”, zealots, Biden, Michael Tyler, Mitch Landrieu, Kayla Tausche, it’s, George W, Democrat John Kerry’s, Barack Obama’s, Mitt Romney, Cronkite, TikTok, he’s, — they’ve, Karl Rove, Trump can’t, shouldn’t, Kristi Noem, Trumpian, Jason Miller, ” Miller, Massachusetts Sen, Elizabeth Warren, ” Warren, they’ll, he’ll Organizations: CNN, Atlanta, ” Biden, Trump, Democrat, GOP, White, Capitol, Voters, Biden, . South Dakota Gov, NBC, Union, Massachusetts Locations: Democrat John Kerry’s Vietnam, Washington, New York, ., Atlanta, State, Wisconsin

☆ Meet the Gen Xers and boomers retiring with 6 figures of student debt that threatens their Social Security and savings
▼ + stars: | 2024-06-22 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

While they took out federal student loans for themselves, Larry wanted to ensure their options weren't limited. Related storiesShelton and Larry aren't alone: As Gen Xers and boomers age into retirement, they're bringing student loans with them. The retirement student debt crisisBoth Shelton and Larry are facing a particular aspect of the retirement crisis: hoping to throw in the towel while sitting on mountains of student loan debt. Interest is a key reason many older adults find themselves struggling to pay off their student loans for decades. Are you worried about student loan debt impacting your ability to retire?

Persons: Diane Shelton, There's, I've, Larry, he'll, Shelton, Larry aren't, Gen Xers, that's, It's, it's, Sen, Elizabeth Warren Organizations: Service, Security, School's Schwartz, for Economic, Social Security Locations: forbearance

☆ These student-loan borrowers qualify for debt cancellation through the government, but they're struggling to get the same relief on their private balances: 'I feel so defeated. I feel trapped.'
▼ + stars: | 2024-06-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +13 min

Every paycheck I get goes to Navient," Pucci, 59, told BI. I feel trapped, and this has been so traumatic, especially the last couple of months, it's been really, really difficult." The lender, instead, can decide how it wants to craft a relief process, if at all. AdvertisementBut Linssen's efforts paid off — she got $70,000 in private loans discharged in May. While Nave also eventually got her private loans relieved after filing complaints with the CFPB, she doesn't understand why it has to be this way.

Persons: —, Leandro Pucci, Joe Biden's, hasn't, Pucci, it's, " Pucci, Sen, Elizabeth Warren, Holder, Warren, Navient, he's, Julia Barnard, Barnard, Theresa, Christman, Theresa Christman Theresa Christman, Eileen Connor, PPSL, haven't, Connor, I've, Victoria Linssen, Jennifer Nave, Linssen, aren't, Brooks, Victoria, Victoria Linssen Victoria Linssen, Nave, they're, — Navient, Nick Eucker, Eucker Organizations: Service, Art Institute, Business, Joe Biden's Education Department, Navient, Education Department, Consumer Financial, Bureau, Education, BI, International Academy of Design, Technology, Brooks Institute, DeVry University, Victoria Linssen Victoria Locations: Venezuela, California, Navient, Cardona

☆ Justices uphold Trump tax on overseas investments in win for Biden
▼ + stars: | 2024-06-20 | by ( John Fritze | Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —The Supreme Court on Thursday upheld a Trump-era tax on overseas investments, rejecting an argument from a Washington state couple in a case that could have jeopardized existing tax provisions and torpedoed Democratic talk of a wealth tax. Justice Brett Kavanaugh wrote the majority opinion and Justice Clarence Thomas wrote a dissent. In reading his opinion from the bench, Kavanaugh repeatedly stressed that the opinion was “narrow” and did not implicate the raging debate over a wealth tax. “Those are potential issues for another day, and we do not address or resolve any of those issues here,” Kavanaugh wrote in Thursday’s opinion. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon and Independent Sen. Bernie Sanders of Vermont have also unveiled tax proposals that would hit the wealthiest Americans.

Persons: Brett Kavanaugh, Clarence Thomas, Kavanaugh, Charles, Kathleen Moore, Moores, Donald Trump, Joe Biden, ” Kavanaugh, “, ” Biden, Biden, Democratic Sens, Elizabeth Warren of, Ron Wyden, Independent Sen, Bernie Sanders, Paul Ryan, Moore, Samuel Alito, Alito, Charles Moore Organizations: CNN, Trump, Democratic, Government, Oregon, Independent, Capitol, Moores Locations: Washington, India, trillions, Elizabeth Warren of Massachusetts, Vermont

☆ Sen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this country
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this countrySen. Elizabeth Warren (D-Mass.) joins 'Squawk Box' to discuss her letter to Fed Chair Jerome Powell questioning the Fed about closed door conversations with JPMorgan CEO Jamie Dimon advocating for slashing bank capital requirements in half, why she's accusing Powell of doing the financial industry’s bidding in considering changes to Basel III Endgame regulations, and more.

Persons: Email Sen, Warren, It's, Jay Powell, Sen, Elizabeth Warren, Jerome Powell, Jamie Dimon, Powell Organizations: Email Locations: Basel

☆ Biden to announce new executive action protecting immigrant spouses and children of US citizens
▼ + stars: | 2024-06-18 | by ( Michael Williams | ) edition.cnn.com time to read: +7 min

Under current federal law, an undocumented person who enters the United States and marries a US citizen must first request parole before applying for legal residency. Lawful permanent residency, commonly known as obtaining a green card, allows immigrants to live and legally work in the United States. Some Democrats in the Senate praised Biden’s executive order while those in vulnerable seats tried towing a line. Sen. Bob Casey, a Democrat in a vulnerable seat, also declined to say if he supports Biden’s executive order. However, he did praise Biden’s executive order from earlier this month aimed at restricting border crossings.

Persons: Washington CNN —, Biden, Barack Obama, Donald Trump, Biden’s, it’s, Donald Trump’s unforgivable, ” Biden, Julie Chavez Rodriguez, “, –, ” Todd Schulte, ” Muzaffar Chishti, John Thune, ” Thune, they’ll, ” Sen, Thom Tillis, Tillis, Sen, Elizabeth Warren, ”, Sherrod Brown, Bob Casey, “ I’ve, – I, CNN’s Sam Fossum, Kayla Tausche, Lauren Fox, Morgan Rimmer, Manu Raju Organizations: Washington CNN, CNN, Migration Policy Institute, Republican, Congress Locations: Arizona , Nevada, Georgia, United States, Ohio

☆ Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’
▼ + stars: | 2024-06-18 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

"I am disappointed by press reports indicating that you are personally intervening—after numerous meetings with big bank CEOs—to delay and water down the Basel III capital rules," said Warren. Last year, three U.S. banking regulators including the Federal Reserve unveiled the proposed rules, a long-expected regime shift around bank capital and risky activities such as trading and lending. The regulations incorporate new international standards created as a response to the 2008 global financial crisis. In March, Powell told lawmakers that he expected "broad and material changes" to the proposal in the wake of the industry's campaign against the rules. Warren urged Powell to allow a Federal Reserve Board vote on the original, tougher Basel proposal by the end of this month.

Persons: Sen, Elizabeth Warren, Jerome Powell, Warren, Powell, —, JPMorgan Chase, Jamie Dimon, Donald Trump Organizations: Senate Armed Services, Washington , D.C, Federal, CNBC, Federal Reserve, Bank, JPMorgan, Street, Fed Locations: Afghanistan, South, Central Asia, Washington ,, Basel, Basel III, U.S

☆ Meet the newest generation of the Kennedy family, America's most famous political dynasty
▼ + stars: | 2024-06-17 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +2 min

Joe Kennedy III is one of the most prominent modern Kennedys in politics. Joe Kennedy III. Greg Nash-Pool/Getty ImagesJoe Kennedy III, 43, is the grandson of Robert F. Kennedy. Still, he'd go on to serve as a United States representative for Massachusetts from 2013 to 2021 and has held the position of United States Special Envoy for Northern Ireland since 2022. The pair met in a Harvard Law School class taught by Sen. Elizabeth Warren, and they now live in Newton, Massachusetts, with their two young children, CBS reported.

Persons: Joe Kennedy III, Greg Nash, Robert F, Kennedy, Ed Markey, he'd, Donald Trump's, He's, Marjory Stoneman, We're, Lauren Birchfield, Sen, Elizabeth Warren, Matthew Rauch Kennedy Organizations: Stanford University, Harvard Law School, United, Massachusetts, United States, Northern Ireland, Democratic, House Energy, Commerce, Green, NBC Boston, Marjory Stoneman Douglas High School, Harvard, Harvard Law, CBS, CNN Locations: Massachusetts, United States, Northern, Massachusetts's, Parkland , Florida, Newton , Massachusetts

☆ As Social Security faces looming fund depletion, there's fierce debate over whether a commission can help
▼ + stars: | 2024-06-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +9 min

"A vote for a commission is a vote to cut Social Security," the man shouted before he was escorted off the floor. How the last major reforms, in 1983, came togetherPresident Ronald Reagan signs the Social Security Act Amendment into law on April 20, 1983. The changes involved taxes on Social Security benefits, increases to payroll tax rates, a future increase to the retirement age and a near-term postponement of cost-of-living adjustments. Social Security Commission Chairman Alan Greenspan, left, shakes hands with Sen. Charles Grassley, R-Iowa, prior to a Social Security hearing on Feb. 15, 1983. Lawmakers divided on best path forwardToday, lawmakers are divided on the best path forward to address Social Security.

Persons: —, Scott Peters, Peters, Bill Huizenga, Joe Manchin, Mitt Romney, — Rep, John Larson, Connecticut —, It's, " Larson, Larson, Nancy Altman, Ronald Reagan, Alan Greenspan, Greenspan, Jim Baker, Reagan, Tip O'Neill, Robert M, Ball, O'Neill, Sen, Charles Grassley, Bob Dole, John Danforth, Altman, Bruce D, Schobel, Elizabeth Warren, Bernie Sanders, California —, they're, Hakeem Jeffries, Conn, Brian Higgins, Jimmy Gomez, Jeffries, Dan Kildee, Richard Neal, Tom Williams Organizations: iStock, Social, Social Security, AARP, CNBC, Rep, Democratic, Corbis, National Commission, Social Security Reform, Greenspan, Federal Reserve, House, White, Finance, Economic Policy Institute, Republican, Greenspan Commission, Senate Finance, Bettmann, Getty, Congress, Democratic House, White House, Democrats, Security, Capitol Visitor Center, CQ, Inc Locations: Sens, R, Utah, Connecticut, Massachusetts, Iowa, California, D

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ The Fed confirms that Americans will have to wait longer for interest rate cuts
▼ + stars: | 2024-06-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The nation's central bank is once again leaving interest rates unchanged as it works to lower inflation. On Wednesday, the Federal Open Market Committee announced that it's holding its key interest rate benchmark steady in a range of 5.25% to 5.5%, continuing the pause that first began in September last year. The Summary of Economic Projections, released alongside the FOMC's interest rate decision, penciled in just one rate cut for 2024. "This housing-related inflation is directly driven by high interest rates: reducing rates will reduce the costs of renting, buying, and building housing, lowering Americans' single highest monthly expense," they wrote. "Lowering interest rates will likely also decrease the cost of auto insurance as well, which has risen due to factors completely unrelated to the cost of lending."

Persons: it's, Jerome Powell, We've, Powell, Elizabeth Warren, John Hickenlooper, Jacky Rosen, Brendan Boyle, Sen, Sheldon Whitehouse Organizations: Service, Federal, Market Committee, Business, Fed, European Central Bank Locations: Sens

☆ 66% of Americans give companies a failing grade for CEO pay
▼ + stars: | 2024-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Americans are fed up with massive CEO pay packages. Just 13% say companies are doing a good or excellent job at avoiding a major pay gap between CEOs and average employees. For the third year in a row, the vast majority – 66% — say companies are doing a “poor” job here. Politically, the majority of Democrats (96%), independents (83%) and Republicans (67%) agree that it’s important to avoid major pay gaps. The findings show how the issue of CEO pay strikes a chord among many Americans, some of whom are struggling to make ends meet in an increasingly expensive world.

Persons: Gallup, ”, Nell Minow, Elon Musk, Tesla, “, Cynthia Clark, Bernie Sanders, Elizabeth Warren, “ It’s, Bill George, Medtronic, Hock Tan, William Lansing, George, Dave Calhoun, Dodd, Frank, Clark, ” Minow, Minow Organizations: New, New York CNN, Bentley University, Gallup, CNN, ValueEdge Advisors, Associated Press, “, Democrats, Sens, Broadcom, Harvard Business School, Boeing, Congress Locations: New York, ”

☆ The Fed's next decision will likely mean Americans are going to wait a lot longer for any interest rate cuts
▼ + stars: | 2024-06-11 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Americans shouldn't expect interest rate cuts to head their way anytime soon. Related stories"It may be bad, partly, because it is driven in part by uncertainty and fear and high interest rates holding back activity," Pollak added. "And if I had to bet, I bet that we will get two rate cuts, one in September and one in December." Some Democratic lawmakers have been pushing the Fed to cut rates and give Americans some breathing room, especially after the European Central Bank cut rates earlier in June for the first time in five years. "The Fed's decision to keep interest rates highs continues to widen the rate gap between Europe and the U.S, as the lower interest rates could push the dollar higher, tightening financial conditions," they wrote, adding: "You have kept interest rates too high for too long: it is time to cut rates."

Persons: there's, Jerome Powell, Powell, Julia Pollak, ZipRecruiter, It's, Pollak, Nick Bunker, Joseph Briggs, Goldman Sachs, we're, David Kelly, Kelly, Elizabeth Warren, Jacky Rosen, John Hickenlooper Organizations: Service, Reserve, Business, North America, Morgan Asset Management, Democratic, European Central Bank Locations: United States, Amsterdam, Sens, Europe

☆ Some student-loan borrowers with private debt have a chance to get their balances wiped out — but they have to ask for it
▼ + stars: | 2024-06-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewThere's a process for some private student-loan borrowers to get debt relief — but many of them might not know about it. In April, Business Insider first reported that Sen. Elizabeth Warren, along with eight of her Democratic colleagues, were calling on Navient — a major private student-loan company — to cancel "decades-old predatory private student loans" under consumer protection law. While some borrowers have started to receive the application from Navient, Warren and her colleagues still urged the company to automate the process and give private borrowers the same relief federal borrowers may have already received. Still, Warren wrote on X that the process should not be "wildly confusing" — and all private borrowers who qualify for debt relief if they were defrauded should have no problem getting it. Have you received an application for private student-debt relief from Navient, or are you still struggling to get relief?

Persons: —, Sen, Elizabeth Warren, Holder, Navient, Eileen Connor, We're, Warren Organizations: Service, Business, Democratic, Navient's, Consumer Financial, The New York Times Locations: Navient

☆ Inflation seems to be cooling again. Americans aren’t buying it
▼ + stars: | 2024-05-31 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

A slew of big-box retailers have lowered prices on items in recent weeks, citing moderating inflation and frugal customers. Recent economic data has also suggested that inflation is cooling, after data earlier this year spurred fears that progress had stalled. Yet Americans don’t seem convinced that inflation is moderating or that the economy is as healthy as indicators suggest. Mortgage rates have declined in recent weeks but remain near 7%. Target announced plans to cut prices on thousands of consumer basics as inflation cuts into household budgets.

Persons: aren’t, Charles Schwab’s, ”, James Kostulias, Charles Schwab, Joe Raedle, Jerome Powell, Powell, Neel Kashkari, “ I’m, Schumer, Chuck Schumer, General Merrick Garland, “, Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Read, Matt Egan, Mat Ishbia, homebuyers, refinances Organizations: CNN Business, Bell, New York CNN, Walmart, Target, Ikea, Aldi, CPI, “ Traders, Minneapolis Federal, CNBC, Democrats, Justice Department, Oil, Big Oil, DOJ, Big, Federal Trade Commission, United Wholesale Mortgage, Phoenix Suns NBA Locations: New York, Miami , Florida, Minneapolis, Texas, Sens

☆ Schumer and Senate Democrats call for Justice Department to probe Big Oil for alleged collusion
▼ + stars: | 2024-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. The lawmakers urged the DOJ to investigate the oil industry, “hold accountable any liable actors” and halt illegal activity. Last week, congressional Democrats launched an investigation into whether other US oil companies colluded with each other and OPEC. Regulators cited hundreds of text messages Sheffield exchanged with OPEC officials discussing pricing, production and oil market dynamics. “The strategy appears to have worked,” Schumer and his colleagues wrote to the DOJ.

Persons: Chuck Schumer, General Merrick Garland, Schumer, “, ”, Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Sheffield “, ” Schumer, Sherman, Sheffield, ” Sheffield Organizations: CNN, Justice Department, Big Oil, Democrats, DOJ, Big, Federal Trade Commission, FTC, Sheffield, Pioneer Natural Resources, OPEC, Pioneer Locations: Texas, Sens

☆ 25% of consumers recently used a buy now, pay later loan, report finds. What to know as they become popular
▼ + stars: | 2024-05-28 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

As buy now, pay later programs become more common, some shoppers are using this payment structure to make ends meet. Such short-term financing plans are the second-most-used form of credit payment among consumers in the U.S., according to a new report by NerdWallet. Meanwhile, 25% said they had used BNPL services in the last 12 months. Far fewer consumers had used a cash advance app (10%) or a payday loan (6%) in the last 12 months, NerdWallet found. An equal share, 8%, expect to use BNPL for necessities in the coming 12 months.

Persons: Elizabeth Warren, NerdWallet, Sara Rathner, it's, Rathner Organizations: Federal Reserve Bank of New, NerdWallet, Finance Locations: Federal Reserve Bank of New York, U.S

☆ Why groceries are so expensive — and how consumers may start to see relief
▼ + stars: | 2024-05-24 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

High inflation is subsiding, but many Americans have yet to see relief from elevated prices at the grocery store. "Grocery prices are up because of good old-fashioned corporate price gouging," Warren said. "And they can gouge consumers on prices because there's only a small number of companies controlling every level of the food chain." "When you spend this kind of money, you're going to have inflation," Kennedy said. "Inflation is coming down, but prices remain elevated," said Mark Hamrick, senior economic analyst at Bankrate.

Persons: they've, Sen, Elizabeth Warren, Warren, John Kennedy, Joe Biden, Kennedy, Harris, Mark Hamrick Organizations: Senate, Finance

☆ Elizabeth Warren wants more student loan borrowers to know bankruptcy is easier now
▼ + stars: | 2024-05-23 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Julia Nikhinson | ReutersDischarging student debt in bankruptcy is now easierThe new guidance has already led to changes. In the first 10 months of the Biden administration's more lenient process, student borrowers filed more than 630 bankruptcy cases, a "significant increase" from recent years, it reported last year. Many borrowers are 'not aware' of changesYet Warren says more work still needs to be done. "More than 43 million borrowers in the United States carry a total of $1.6 trillion in student loan debt, and more than 2 million borrowers have been repaying those loans for at least 20 years," Warren and Whitehouse wrote. "DOJ and ED must work harder to encourage borrowers to seek relief — and deliver on that relief when requested," they added.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, I've, Neu, Warren, Whitehouse Organizations: Intelligence, U.S, Capitol, CNBC, DOJ, The, of Justice and Education Department Locations: Washington, Seattle, United States

☆ Trump campaign starts taking cryptocurrency donations, vows to build a 'crypto army'
▼ + stars: | 2024-05-21 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The Trump campaign announced Tuesday it will start accepting cryptocurrency donations, casting the move as one of solidarity with opponents of "socialistic government control" over the U.S. financial markets. "MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!" The move opens a new source of potential funds for the Trump campaign, which still lags Biden in cash on hand even as it outraised the Democratic incumbent in April. Crypto donations will be reported as in-kind contributions, much like gifts of stock. "Contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations," the Trump campaign said.

Persons: Donald Trump, Trump, Joe Biden, Sen, Elizabeth Warren, Biden, Warren, MAGA, Crypto Organizations: Commerce, Trump, Biden, Democratic, Federal, Pew Research Center Locations: Waukesha, Waukesha , Wisconsin

☆ The Rise of a New Centrism
▼ + stars: | 2024-05-20 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

Washington, you often hear, is a place so polarized that our leaders barely get anything done. Senator Elizabeth Warren, a progressive leader, has worked on legislation with several conservative Senate Republicans, including Josh Hawley and J.D. My editors recently asked me to make sense of this conundrum: A polarized country in which bipartisanship has somehow become normal. To do so, I spoke with Congress members from both parties, as well as Biden administration officials and outside experts. I emerged from the project believing that the U.S. was indeed a polarized country in many ways — but less polarized than people sometimes think.

Persons: Biden —, Donald Trump’s, —, Elizabeth Warren, Josh Hawley, J.D, Vance, Lina Khan —, Biden, ” Biden, bipartisanship Organizations: Democrats, Republican, Republicans, Federal Trade Commission Locations: U.S

TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."

Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing

Search resuls for: "Elizabeth Warren"

25 mentions found