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☆ Standard Chartered lifts income guidance again after beating third-quarter profit forecasts
▼ + stars: | 2024-10-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Standard Chartered on Wednesday upgraded its 2024 income guidance as it posted profits in the third quarter that beat expectations, driven by record performance in its wealth management business. After its second quarter earnings report, Standard Chartered in July announced its largest-ever share buyback of $1.5 billion. Standard Chartered said its operating expenses rose 3% to $2.9 billion caused by inflation and business expansion efforts, although efficiency savings did offset some costs. The London-headquartered bank also lifted its 2024 income guidance on Wednesday with operating income to increase towards 10% in 2024. In July, the bank had upgraded the operating income projection to more than 7%, from 5% to 7%.

Persons: LSEG, Bill Winters, that's Organizations: Chartered, HSBC Locations: Asia, London

☆ JetBlue founder and low-cost airline veteran explains how struggling airlines need to adapt to survive right now
▼ + stars: | 2024-10-30 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Budget airlines like Spirit, Frontier, and Southwest are struggling to turn a profit. Low-cost veteran David Neeleman told BI that Spirit and Frontier should merge to survive. The still-in-service airlines Neeleman founded, like JetBlue Airways, Azul Brazilian Airlines, Canada's WestJet, and Breeze Airways, largely follow this idea. Historically, these strategies have been absent from the likes of Spirit, Frontier, and Southwest, which have stuck to all-economy aircraft with little choice. Southwest Airlines boats an open-seating policy where seats are first-co,me first-serve.

Persons: David Neeleman, —, David Neeleman —, Thomas Pallini, haven't, Neeleman, that's, Barry Biffle, They're, we've, WestJet, Scott Kirby, doesn't, Kevin Carter, Breeze Organizations: Service, JetBlue —, Breeze Airways, Alaska Airlines, Hawaiian Airlines, Street, Frontier, Neeleman, JetBlue Airways, Azul Brazilian Airlines, JetBlue, Southwest Airlines, Morris Air, Spirit, Airbus Locations: Southwest, Frontier, Breeze

☆ Inflation is cooling, yet many Americans are still living paycheck to paycheck
▼ + stars: | 2024-10-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Blueflames | Getty ImagesNecessities are 'swallowing up' incomeThe share of households living paycheck to paycheck has grown since 2019, according to the firm. Around 35% of households earning less than $50,000 per year are living paycheck to paycheck, up from 32% in 2019. Higher-income households also report struggling, with around 20% of households with more than $150,000 living paycheck to paycheck, the research found. Inflation is a top issue with voters as the November election approaches, according to an October CNBC All-America Economic Survey. People who rent are among those feeling the biggest impact of inflation, Traphagen said.

Persons: It's, David Tinsley, Tinsley, Jamie Grill, Peter Traphagen, Traphagen, Nick Roth, Roth Organizations: CNBC, America Economic Survey, Bank of America Institute, Labor Department, Wealth, Foster & Motley Locations: U.S, Oradell , New Jersey, Cincinnati

☆ American Battleground: How ‘brat summer’ set up Kamala Harris’ remarkable run
▼ + stars: | 2024-10-30 | by ( Tom Foreman | ) edition.cnn.com time to read: +21 min

Chief among them, the person the outgoing president tapped to replace him on the ticket, Vice President Kamala Harris. “People understood that if you didn’t choose Kamala Harris, you’d have a big problem with your base voters,” Etienne says. He’s had plenty of women who worked for him over the years, but there was no one who looked like Kamala Harris and there was no one in a position of authority. Vice President Kamala Harris and Minnesota Gov. Elijah Nouvelage/AFP/Getty ImagesComing Thursday: How cat people are still haunting Trump’s campaign

Persons: Joe Biden, Donald Trump, Read, ” Joe Biden, CNN’s MJ Lee, Nancy Pelosi, Biden, Lee, “, ”, Pelosi, “ America’s, Evan Vucci, Trump’s, Team Trump, “ Trump, unpleasantly, Tim Alberta, NPR’s Michel Martin, Kamala Harris, “ Joe Biden’s, California’s Gavin Newsom, Michigan’s Gretchen Whitmer, J.B, Pritzker, Kentucky’s Andy Beshear, Maryland’s Wes Moore, Pennsylvania’s Josh Shapiro, Sens, Amy Klobuchar, Joe Manchin, Pete Buttigieg, Harris, ” Lee, Ashley Etienne, Barack Obama, you’d, ” Etienne, Trump, Harris ’, ‘, “ Kamala, I’ve, Ron Bieber, cheaters, Donald Trump’s, “ We’re, Kevin Mohatt, CNN’s Kristen Holmes, CNN’s Phil Mattingly, Van Jones, he’s, Rachel Scott, Vincent Alban, Obama, Hillary Clinton, Lyin, Kamala ”, Etienne, Treene, Jeff Zeleny, detests Biden, viscerally detests, He’s, Tim Walz, Ohio Sen, JD Vance, Walz, ” Vance, Vance, Brendan Smialowski, CNN’s Edward, Isaac Dovere, Beyoncé’s, Roe, Wade, smirking, Elijah Nouvelage Organizations: CNN, Guardian, White, Republican National Convention, Team, Trump, Governors, Democratic National Convention, Naval, Democratic Party, Harris, Biden, Democratic, AFL, National Association of Black Journalists, ABC, Howard University, Minnesota Gov, Marine, Army National Guard, United States Marine Corps, Ohio Republican, Arlington National Cemetery, Pentagon, Getty, Republicans, “, Fox News, ABC News Locations: Wilmington, Delaware, Atlantic, Michigan’s Gretchen Whitmer , Illinois, Minnesota, West Virginia, Michigan, Wisconsin, West Allis , Wisconsin, Trump, Jamaica, India, United States, Iraq, United States of America, Afghanistan, Philadelphia, AFP, Roe, Alabama, Atlanta

☆ Wall Street is bullish on Amazon earnings despite uncertainty around consumer spending, rising investment costs
▼ + stars: | 2024-10-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +7 min

CFRA trimmed its Amazon price target to $219 a share on October 21, indicating 13% upside ahead. The firm has a "buy" rating on the stock and a $210 price target, which implies an 8.3% gain from current levels. The firm said investors have toned down margin expectations due to Amazon's spending in new investment areas, such as Project Kuiper. AdvertisementWedbush reiterated its "outperform" rating and $225 price target, implying a 16% gain from current levels. Morgan Stanley has a $210 price target for the stock, representing upside of about 8% from Wednesday's share price.

Persons: —, Arun Sundaram, Sundaram, Justin Post, BofA, Scott Devitt, Wedbush, Morgan Stanley, Bullish, Brian Nowak Organizations: Service, CFRA, Bank of America, Amazon Web Services, 3Q, JPMorgan, Wedbush Securities

☆ Arizona is the epicenter of the debate over how Trump's mass deportation plan would hit the economy
▼ + stars: | 2024-10-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

Donald Trump proposed mass deportation to lower housing costs and boost job opportunities. AdvertisementThe mass deportation of people living in the US illegally has been one of the cornerstones of the Republican presidential ticket leading up to the November election. Many Democrats say mass deportations would hurt businesses and employment opportunities for all Americans, in addition to separating families and displacing millions of people. She told BI that a mass deportation would devastate the agriculture, construction, and hospitality industries. AdvertisementHow much a mass deportation would cost the governmentThe Trump campaign has talked little about how mass deportations could be implemented and on what scale.

Persons: Donald Trump, —, Trump, Kamala Harris, Biden, Harris, Douglas Nicholls, Nicholls, Regina Romero, Romero, " Romero, Duncan Braid, Braid, Davis, Chloe East, Taylor Rogers, Trump's, Rogers, hasn't, Marcus Noland Organizations: Service, Republican, Pew Research Center, Business, Pew Research, Trump, Immigration, Customs, American Compass, University of California, Brookings Institution, ICE, New York Times, American Immigration, Taxation, Economic, Manhattan Institute, FEMA, RNC, Peterson Institute for International Economics, American Immigration Council, Peterson Institute Locations: Los Angeles, Springfield, Aurora, Ohio, Colorado, Arizona, Yuma , Arizona, Mexico, Yuma, Tucson, Reading , Pennsylvania, US, Aurora , Colorado

☆ Coinbase shares tumble as muted crypto trading leads to a third-quarter miss
▼ + stars: | 2024-10-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021. Coinbase Wednesday reported weaker-than-expected third-quarter results, weighed down by muted trading in the cryptocurrency market. Coinbase has been an active lobbyist for the crypto industry this year, spending millions backing pro-crypto political action committees. While crypto price action has been tepid, the market cap for stablecoins reached new highs, helping push Coinbase's third-quarter stablecoin revenue to $246.9 million. That revenue could be challenged in the current quarter with interest rates expected to continue coming down.

Persons: Bitcoin, Coinbase, Stablecoins, stablecoins Organizations: Nasdaq, Coinbase, LSEG, Revenue Locations: New York, U.S

☆ Chipotle says ensuring 'consistent and generous portions' has taken a toll on its profitability
▼ + stars: | 2024-10-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints. The move and unusual price fluctuations for avocados have hit the chain's profitability. Profit margins for the chain suffered last quarter due to a concerted effort to provide "consistent and generous portions" in every order, the company said Tuesday. "We are committed to ensuring that we give the right portion to every guest that walks into the building." Related storiesWhile that's good news for Chipotle diners, the chain said it was partly the reason for a hit to profitability in the last fiscal quarter.

Persons: Chipotle, it's, —, Scott Boatwright, Adam Rymer Organizations: Service, New York Locations: Chipotle, New York City

☆ Gaming giant Take-Two is in talks to sell its Chartboost adtech division
▼ + stars: | 2024-10-30 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Take-Two Interactive is in talks to sell its adtech division Chartboost. AdvertisementTake-Two Interactive, the video games giant behind franchises like "NBA 2K24" and "Grand Theft Auto," is in talks to sell its adtech division Chartboost. Adtech companies AppLovin and LoopMe have emerged as potential buyers for the Chartboost assets, the people said. AdvertisementTake-Two acquired Chartboost through its 2022 $12.7 billion purchase of the mobile gaming company Zynga. AppLovin offers a similar, but larger, business to Chartboost — offering developers adtech to make money from their mobile games and find new users.

Persons: —, LoopMe, AppLovin, It's, Maggie Mesa, LUMA Organizations: AAA, Service, Business, Zynga, Mayfair Equity Partners, LUMA Partners Locations: FarmVille, Chartboost

☆ Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race
▼ + stars: | 2024-10-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Experts told BI that all three companies face slumping EV sales and brutal competition in China. BMW and Mercedes-Benz have issued profit warnings in recent weeks amid slumping EV sales in Europe and brutal competition in China, while Volkswagen is also facing a reckoning. German carmakers are losing out to Chinese EV makers such as BYD. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and extended-range vehicles — categories that have proven extremely popular in China. Slow sales in EuropeAt the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.

Persons: —, Arno Antlitz, Mercedes, Hendrik Schmidt, Daniel Pier, Getty Images Helena Wisbert, Wisbert, Matthias Schmidt, Tesla, JENS SCHLUETER, that's Organizations: BMW, Mercedes, Benz, Service, Volkswagen, Wednesday VW, VW, dpa, China Passenger Car Association, Getty Images, Ostfalia University, Getty, European Union, Volkswagen Group, UBS Locations: Germany, China, Europe, North America, South America, China —, AFP

☆ U.S. economy grew at a 2.8% pace in the third quarter, less than expected
▼ + stars: | 2024-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The economy accelerated at a 3% pace in the second quarter. The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown. Personal consumption expenditures, the proxy for consumer activity, increased 3.7% for the quarter, the strongest performance since Q1 of 2023. "You've got the perfect combination of strong growth and slowing inflation. The personal savings rate decelerated in the third quarter to 4.8%, down from a 5.2% level that had been revised up sharply.

Persons: Dow Jones, You've, Dan North, Kamala Harris, Republican Donald Trump, Harris, — Trump Organizations: Gross, Commerce Department, Treasury, Allianz Trade North America, Federal Reserve, Fed, Republican Locations: U.S

They argue that Casey, a middle-of-the-road liberal, had previously not been at the forefront of the populist economic turn in both parties. Casey’s Senate website dedicates an entire page to “greedflation,” which he also discussed at length in his speech at the Democratic National Convention this summer. The core of Casey’s argument is the assertion that, from July 2020 to July 2022, corporate profits rose five times faster than overall inflation. I would concede the economy has gotten better,” said McCormick, who has run an ad to counter Casey on the topic. “If you’re living paycheck to paycheck, you’re still in the grind, and that’s what I think Bob Casey and Kamala Harris do not understand.

Persons: Sen, Bob Casey, “, Casey, “ greedflation, ”, Mike Mikus, ” Dave McCormick, I’m, they’re, they’ve, “ greedflation ”, Joe Biden, Kellogg’s, Clark, Proctor, McCormick, ” Sen, Raphael Warnock, Donald Trump, Maria Collett, greedflation ”, “ It’s, ‘ greedflation, Biden’s, Kamala Harris, Harris, pollsters, you’re Organizations: GOP, Democratic, Republican Senate, Federal Trade Commission, Senate, Gamble, Disney, Convention, Federal Reserve Bank of Kansas, NBC, San Francisco Federal Reserve, The Washington Post, Republican, NBC News, Republicans, ” “, Federal Reserve Locations: ”, Pennsylvania, Haverford Township, Kimberly, Federal Reserve Bank of Kansas City, U.S

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Netflix, Tesla, Meta, Uber, Amazon, Walmart, First Solar & more
▼ + stars: | 2024-10-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Evercore ISI reiterates Amazon as overweight Evercore says it's sticking with the stock ahead of earnings later this week. Evercore ISI reiterates Uber as overweight Evercore says it's bullish on Uber heading into earnings on Thursday. Janney upgrades First Solar to buy from neutral Janney says the solar company is attractive ahead of earnings on Tuesday afternoon. " Evercore ISI reiterates Meta as overweight Evercore says it's sticking with Meta ahead of earnings on Wednesday. Barclays reiterates Tesla as equal weight Barclays raised its price target on the stock to $235 per share from $220.

Persons: Evercore, Uber, it's bullish, Janney, Goldman Sachs, Ford, Goldman, Wells, Tesla, Morgan Stanley, Bernstein, TD Cowen, Cowen, it's, Mizuho, Stephens, ROA, Guggenheim, HOOD, we've Organizations: Ford, CTV, APP, Citi, Apple, Apple Intelligence, Barclays, Walmart, Mizuho, Netflix, Guggenheim, Six Flags Entertainment Locations: Mexican, Brazil, Mexico, China, U.S

☆ One of Republicans’ biggest inflation cudgels against Democrats has evaporated
▼ + stars: | 2024-10-29 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

It’s a crucial trend that undercuts one of the biggest arguments Republicans have used to hammer Democrats over the cost of living. Although gas prices are down and the rate of inflation has cooled sharply, consumers are still hurting from years of price hikes. After Russia invaded Ukraine, oil prices skyrocketed due to fears of massive supply disruptions. Drivers rolling up to gas stations in some battleground states are enjoying significant price drops, including Nevada (79 cents cheaper than a year ago), Arizona (78 cents cheaper), Pennsylvania (36 cents cheaper) and Wisconsin (32 cents cheaper). But for now the markets appear to be bracing for muted prices, a situation that should keep a lid on gas prices.

Persons: Harris, ” Patrick De Haan, It’s, we’re, ”, De Haan, Donald Trump, Kamala Harris, Biden, Trump, Tom Kloza, Kloza, Brent, “ Organizations: New, New York CNN, Biden, CNN, AAA, Drivers, Iran, Oil Price Information Service, Citigroup, ClearView Energy Partners Locations: New York, Nevada, Arizona, Russia, Ukraine, Pennsylvania, Wisconsin, Israel, Iran, Persian, China, United States

☆ How to keep your portfolio steady in volatile times as the election approaches
▼ + stars: | 2024-10-29 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The S & P 500 is toting a 1.3% gain in October, but it's up more than 22% in 2024. He said his team expects the CBOE Volatility Index (VIX) , a measure of expected volatility, to remain elevated around 20 until after Election Day. Individual investors are already expressing some worries about how the markets might behave in the run-up to Nov. 5 – and the days that follow. Cash-secured puts can offer investors an opportunity to put cash to work and generate some income, he said. Covered call strategies have also come into play as a potential way for investors to contend with concentrated positions, he added.

Persons: Craig Johnson, Piper Sandler, Logan Queck, I'm, Malcolm Ethridge, Ethridge, they've, Ashton Lawrence, Cash, Lawrence Organizations: Wealth, CFP, Capital, IRS, Investment Company Institute, Mariner Wealth Advisors Locations: West Des Moines , Iowa, Washington ,, Greenville , South Carolina

☆ Pfizer tops earnings estimates, hikes full-year guidance as Covid products help sales
▼ + stars: | 2024-10-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Pfizer on Tuesday reported third-quarter revenue and adjusted profit that blew past expectations as the company's Covid vaccine and antiviral pill Paxlovid helped boost sales. Pfizer now expects revenue in a range of $61 billion to $64 billion, up from a previous revenue forecast of between $59.5 billion to $62.5 billion. That includes roughly $5 billion in expected revenue from its Covid vaccine and $5.5 billion from Paxlovid. Pfizer reported revenue of $17.7 billion for the third quarter, up 31% from the same period a year ago. Notably during the quarter, Pfizer withdrew from world markets a critical sickle cell drug it had acquired in a $5.4 billion deal for Global Blood Therapeutics.

Persons: Jeff Smith, Smith, Paxlovid, StreetAccount, Covid Organizations: Pfizer, LSEG, Global Blood Therapeutics Locations: U.S

☆ Google's new CFO makes earnings call debut, says company can 'push a little further' on cost cuts
▼ + stars: | 2024-10-29 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

For nine years, the CFO role at Google and parent company Alphabet was held by Ruth Porat, who took a giant pay package in 2015 to leave Wall Street for Silicon Valley. "But I think any organization can always push a little further and I'll be looking at additional opportunities." During the Q&A portion of the call, Evercore ISI's Mark Mahaney asked, "As you're coming in looking at this fresh, is it clear to you there are a lot of newfound cost efficiencies or ongoing cost efficiencies?" The new CFO said one way Google can find additional efficiencies is by using AI "within our own processes and how we get work done." WATCH: Google search benefiting from generative AI

Persons: Ruth Porat, Porat's, Anat Ashkenazi, Sundar Pichai, Ruth, Sundar, Ashkenazi, Eli Lilly, Porat, There's, Pichai, Askenazi, Evercore, Mark Mahaney Organizations: Google, Tuesday Locations: Silicon Valley

☆ We upgraded Stanley Black & Decker stock despite the post-earnings selling
▼ + stars: | 2024-10-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Stanley Black & Decker reported mixed quarterly results before Tuesday's opening bell, and the stock got whacked. SWK YTD mountain Stanley Black & Decker YTD Shares of Stanley Black & Decker consolidated around an 8% decline after the release. We upgraded Stanley Black & Decker on Tuesday morning back to our buy-equivalent 1 rating on the belief the stock reaction to the print was overdone. Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. To honor the occasion, Donald Allan, Jr., President & CEO of Stanley Black & Decker, joined by Chris Taylor, NYSE Global Head of Advisory, rings the Opening Bell®.

Persons: Stanley Black, Decker, Stanley, Donald Allan, we're, Allan, —, Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Revenue, Stanley Black, Treasury, Federal, Bosch, Techtronic Industries, Management, CNBC, The New York Stock Exchange, NYSE Global Locations: Dewalt, Europe

☆ Using options to trade two cosmetics competitors with a lot on the line this month
▼ + stars: | 2024-10-28 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

Beauty and Estée Lauder are well-known companies in the beauty and cosmetics industry. Their customers generally have higher disposable incomes, as Estée Lauder is a luxury brand emphasizing premium, high-quality ingredients. Estée Lauder combines a traditional retail model with a growing e-commerce presence. Estee Lauder has fallen roughly 45% over the past seven months. ELF EL YTD mountain Estee Lauder vs. elf Beauty, YTD e.l.f.

Persons: Estée Lauder, Gen X, Nordstrom, Estee Lauder, Trump Organizations: Target, Walmart, Presidential, CNBC, NBC UNIVERSAL Locations: U.S, North America, United States, Asia, Europe, Americas, China, Estee

Investors could win big with some of the companies reporting earnings this week that are trading below their fair valuations. About one-third of the S & P 500 , or 154 companies, as well as 10 companies in the Dow Jones Industrial Average , are due to report earnings this week. It is also shaping up to be a big week for companies within the travel, restaurant, energy and pharmaceuticals industries. Ahead of these results, CNBC Pro screened for the stocks reporting this week that are both trading at a discount and favored among Wall Street. The energy company will report earnings next Thursday.

Persons: James Hardiman, TD Cowen, Cowen, Andrew Kligerman, Nicholas Campanella Organizations: Dow Jones, Microsoft, Big Tech, Intel, CNBC Pro, Norwegian Cruise, Citi, Insurance, MetLife, Barclays, D, WEC Locations: Norwegian, Entergy

☆ Earnings playbook: Busiest week of the season includes reports from megacaps Apple and Amazon
▼ + stars: | 2024-10-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Monday Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. What history shows: Bespoke Investment Group data shows Ford beats earnings expectations 68% of the time. What to watch: Meta is in a good spot heading into this week's report, according to Bernstein's Mark Shmulik. Microsoft is set to report earnings after the close, with a conference call on deck for 5:30 p.m. Amazon is set to report earnings after the market close, with a conference call at 5 p.m.

Persons: Edison Yu, Yu, BioNTech, Goldman Sachs, Toshiya Hari, Hari, LSEG, Bernstein's Mark Shmulik, Morgan Stanley's Keith Weiss, AAPL, KeyBanc, Justin Post Organizations: Apple, Ford Motor . Pharmaceutical, Pfizer, Corporate America, Monday Ford, LSEG, Ford, AMD, Cloud Service, Google, Microsoft, Windows, CNBC, Management, Amazon Web Services, Bank of America, Amazon Locations: Temu, .

☆ What Harris and Trump are proposing for the economy
▼ + stars: | 2024-10-27 | by ( Tami Luhby | Katie Lobosco | ) edition.cnn.com time to read: +21 min

CNN —Former President Donald Trump and Vice President Kamala Harris have laid out a broad array of ideas aimed at making life more affordable and strengthening the economy, which rank at the top of voters’ concerns. Both Trump and Harris have rolled out pricey provisions without specifying how they would cover the cost. Though his campaign hasn’t released details on the proposal, Trump has indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. Around half of beneficiaries – mainly those with higher incomes – pay federal income tax on their Social Security payments. Harris’ plan would also accelerate the speed of Medicare’s drug price negotiations so that the costs of more medications come down faster.

Persons: Donald Trump, Kamala Harris, hasn’t, Harris, Harris ’, Trump, Joe Biden’s, Biden, Sen, JD Vance, Trump’s, ” Harris, USMCA, ” Trump, He’s, Elon Musk, John Deere, ” Vance Organizations: CNN, Trump, Yale University, Security, Social Security, Center, Social, Rescue, Medicare, GOP, Biden, Republican Party, ” Invest, America, Federal Reserve, American Locations: Nevada, Las Vegas, Mexico, Canada, Texas, Florida, Harris, Midwest

☆ Trump doubles down on replacing income taxes with tariffs in Joe Rogan interview
▼ + stars: | 2024-10-26 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

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

I didn't have a car, and doing work exchanges kept my fixed costs a fraction of what I spent in the US. My mindset was also different: I didn't feel the need to spend money to have fun like I do at home. But the mindset I had while living abroad is what really helped me save: I didn't feel the need to spend money to enjoy myself. I spent one summer living in New York City thanks to a work exchange I found on that same website. The traveler's mindset I had while living abroad encouraged me to explore, get creative, and find fun in the simplest activities.

Persons: —, I've, I'd Organizations: Service, Central America, Get, Workaway, Yorkers Locations: Costa Rica, Mexico, Central, Europe, Asia, Portland , Oregon, Japan, Vietnam, Tuscany, New York City

☆ I'm a professional chef. Here are the best ways to prepare and cook different steak cuts.
▼ + stars: | 2024-10-25 | by ( Alissa Fitzgerald | ) www.businessinsider.com time to read: +4 min

I'm a professional chef with experience picking the best cuts of meat for almost any steak dish. The filet mignon pairs well with many flavors, but it's imperative to not overcook this cut of meat. A fat cap, which is a thick outer layer on the meat, also adds flavor to different cuts. Here's how I cook different cuts of meat for the best steak. AdvertisementFlank steak is perfect for marinatingMarinating a flank steak is a perfect way to add more flavor.

Persons: I'm, mignon, —, Filet mignon, mignon —, Ryan Paszek, Cook Organizations: Service, de Locations: York

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