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☆ Bernie Sanders to grill Novo Nordisk CEO on why weight-loss drugs Ozempic and Wegovy can cost up to 15 times more in US
▼ + stars: | 2024-06-16 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +1 min

Bernie Sanders said the CEO of Novo Nordisk will testify on the cost of Ozempic and Wegovy. Lars Jørgensen will appear before the Senate Committee on Health, Education, Labor, and Pensions. Sanders, who chairs the committee, said the hearing would focus on the "outrageously high cost" of the drugs. AdvertisementUS Senator Bernie Sanders has announced that the CEO of Danish drug company Novo Nordisk will testify on the high cost of the weight-loss drugs Ozempic and Wegovy. The hearing will focus on what was described in the press release as the "outrageously high cost" of the drugs, which have soared in popularity over the last year.

Persons: Bernie Sanders, Wegovy, Lars Jørgensen, Sanders, —, Ozempic Organizations: Novo Nordisk, Health, Education, Labor, Service, Business Locations: Danish

☆ UAW president under investigation by federal monitor
▼ + stars: | 2024-06-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing. The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information. More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents. The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.

Persons: Shawn Fain, Neil Barofsky, Fain Organizations: United Auto Workers, Health, Education, Labor, Pensions, Washington , D.C, DETROIT — United Auto Workers, UAW, U.S . Department of Justice, Union, UAW International, Board Locations: Dirksen, Washington ,, DETROIT

☆ Welcome to another summer of uncertainty in Hollywood
▼ + stars: | 2024-06-10 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +6 min

Entertainment industry professionals gathered at an IATSE, Teamsters Local 399 and Hollywood Basic Crafts rally in Encino in March. They are represented by Teamsters Local 399, with the drivers making up the largest portion of their membership. What is Hollywood Basic Crafts? Hollywood Basic Crafts and Teamsters Local 399 began June 10. IATSE, Teamsters Local 399 and Hollywood Basic Crafts’ respective contracts expire on July 31.

Persons: “ There’s, ” Lindsay Dougherty, “, ” Dougherty, Hollywood’s, IATSE, Dougherty, there’s Organizations: CNN, Teamsters, Hollywood Basic Crafts, Alliance, Television Producers, Crafts, IATSE, Hollywood Crafts, Entertainment, zz, International Brotherhood of Teamsters, of Transportation, wranglers, OPCMIA, Plasterers UA, International Alliance, Hollywood Locations: California, Encino, Hollywood, IBEW, IATSE

☆ A baby boomer who saved over $2 million for retirement explains what he thinks he did right to make the system work for him
▼ + stars: | 2024-06-05 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

One in five older Americans have no retirement savings, Social Security doesn't feel like much of a guarantee, and the pension era is over. While the widespread shift over the last five decades to 401(k)s for retirement savings has meant some Americans can't afford the burden of being primarily responsible for their retirement finances, others have been able to work the system to their advantage. Throughout his nearly 40-year-long career in geology, he was able to sock away over $2 million for his retirement, even after putting multiple kids through college. He thinks some just didn't know much about 401(k)s during the switch from a pension or didn't understand them. Advertisement"If I had to tell people what to do, there's save big and save early — or save early, and it doesn't have to be big, but save early and you get all that compounding," Mark said.

Persons: Mark —, —, Mark, he's, it's, Roth Organizations: Service, Social Security, Bureau of Labor Statistics Locations: —

☆ Senate GOP blocks bill to guarantee access to contraception
▼ + stars: | 2024-06-05 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +5 min

CNN —Senate Republicans voted Wednesday to block a bill put forward by Democrats that would guarantee access to contraception nationwide, as Democrats seek to highlight the issue in the run up to November’s elections. Lisa Murkowski and Susan Collins crossed over to vote with Democrats in favor of advancing the bill. Katie Britt and Ted Cruz introduced a bill called the IVF Protection Act in May, and Republican Sen. Joni Ernst has put forward a separate bill to promote access to contraception. “We will have an alternative that will make very clear that Republicans are for contraception,” Senate GOP Whip John Thune said. Ahead of the vote on the Democrat-led bill, Ernst attempted to pass her alternative contraception bill by unanimous consent, but the request was blocked by Democrats.

Persons: Lisa Murkowski, Susan Collins, Schumer, It’s, GOP Sen, John Cornyn, …, Roe, Wade, –, “, Chuck Schumer, ’, ”, Illinois Democratic Sen, Tammy Duckworth, Katie Britt, Ted Cruz, Republican Sen, Joni Ernst, John Thune, Ernst, Democratic Sen, Patty Murray, Britt, Murray, Democratic Sens, Ed Markey, Mazie Hirono, Duckworth, CNN’s Brenda Goodman Organizations: CNN, Republicans, GOP, “, Democratic, state’s, Illinois Democratic, Republican, Democrat, US Food and Drug Administration, Health, Education, Labor, Women’s Freedoms Locations: Texas, Alabama, implanting

☆ Claudia Sheinbaum, Mexico’s first woman president, promises to govern for all. Here are the top challenges she’ll face
▼ + stars: | 2024-06-03 | by ( Tara John | ) edition.cnn.com time to read: +10 min

Complicating her administration’s debut, Sheinbaum will also have to contend with the shadow of her polarizing mentor, the outgoing President Andres Manuel López Obrador, from the same Morena party. In a speech following the election, Sheinbaum promised to govern for all and to be an investor-friendly president. Mexican President Andres Manuel Lopez Obrador raises Sheinbaum's hand after she was sworn in as Mexico City's mayor on December 5, 2018. Sheinbaum condemned the violence following Hamas’ October 7 attack on Israel and has previously called for a Palestinian state. Still, under López Obrador, the Mexican government has accepted US deportations of tens of thousands of non-Mexican citizens under a 2023 Biden administration rule.

Persons: Claudia Sheinbaum, Sheinbaum, Andres Manuel López Obrador, “, ”, Carin Zissis, López Obrador, Andres Manuel Lopez Obrador, Alfredo Estrella, ” Zissis, ” López Obrador, Jorge Zepeda, ” Stephanie Brewer, Jose Luis Gonzalez, Will Freeman, ” Freeman, López, coy, Freeman, Herika Martinez, ’, Joe Biden, Donald Trump –, Zissis, Brewer, Will Sheinbaum, Mau Torres, Ivonne Valdés Organizations: CNN, Bank of, Americas Society, Mexico City's, Getty, Washington Office, Latin, Mexican Army, National Guard, Reuters, Mexico City, Council, Foreign Relations, Crisis Group, Defense, “, US Border Patrol, AFP, American, Israel, Biden, United Locations: Mexico, Mexico City, Morena, Bank of Mexico, ”, AFP, Sheinbaum, Latin America, WOLA, Operation, Ciudad Juarez, Mexico’s, Morelos, Cuautla, Washington, States, Cuba, Venezuela, Nicaragua, Gaza, Ukraine, El Paso , Texas, Chihuahua State, Israel, Palestinian, La Jornada, United States

☆ The average 401(k) savings rate recently hit a record — how to know if you're on track
▼ + stars: | 2024-06-03 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The right retirement savings rate depends on your age, expected retirement date, cash flow, projected Social Security income, pensions and retirement plans, among other factors. However, "if you can't reach that 15%, at least try to contribute [enough] to get your full company match," Shamrell said. If you can't reach that 15%, at least try to contribute [enough] to get your full company match. 401(k) savings rates are increasingOver the years, both the individual savings rate and company contributions have continued to climb, said Shamrell with Fidelity. Automatic 401(k) contribution increases have also boosted savings rates, according to Shamrell.

Persons: Mike Shamrell, Shamrell, deferrals, Andrew Herzog Organizations: Fidelity Locations: Plano , Texas

☆ Loyalty at work no longer pays — and it's employers who are to blame
▼ + stars: | 2024-05-31 | by ( Steven Piluso | ) www.businessinsider.com time to read: +7 min

I got an early impression of what company loyalty was supposed to beAfter college graduation at age 22, I got my first job at an advertising agency. And you didn't worry about jumping around for money; if you took care of the company, they'd take care of you and your family." AdvertisementHe gave them 40+ years of his life, and in return they took great care of him. The broken loyalty contract between employers and workers can be repairedIs loyalty a dated and dead concept? In fact, the shift in values from Gen-X to millennials and Gen-Z creates a great opportunity to ignite loyalty.

Persons: —, I've, I'd, He'd, who'd, Gen X, Steven Piluso Organizations: Service, Business, Fortune Locations: Nantucket, Vermont

We asked seven pro investors to identify the best trades of their careers and explain how the lessons from those decisions still apply today. The CBOE Volatility Index, also known as the VIX, shot above 40, essentially meaning traders were betting that the stock market would be exceptionally rocky over the following month. Jeff Muhlenkamp, lead portfolio manager at Muhlenkamp & CompanyJeff Muhlenkamp Muhlenkamp & CompanyJeff Muhlenkamp's namesake Muhlenkamp Fund (MUHLX) has been in the top 3% of its category in the past half-decade, thanks to trades like one he pulled off on Chinese internet firm Baidu (BIDU). "I pretty much expected, 'OK, if I get a double out of this in five years, I'll be happy' — that's pretty decent money," Muhlenkamp said. He noted that industrials within the Russell Mid Cap value index have returned 116% over the previous five years.

Persons: —, That's, Michael Burry, Warren Buffett, Berkshire, Rob Arnott, Tim Boyle, Arnott, I'd, Bob Elliott, Bob Elliott's, Elliott, Jeff Muhlenkamp, Jeff Muhlenkamp Muhlenkamp, Jeff Muhlenkamp's, Muhlenkamp, you've, Sona Menon, Cambridge Associates Sona Menon, Bryant VanCronkhite, Allspring Bryant VanCronkhite Allspring Bryant VanCronkhite, VanCronkhite, Russell, industrials, James Davolos, Davolos, George Patton, Harley Bassman, Harley Bassman's, Bassman, Merrill Lynch, I'm Organizations: Service, American Express, Business, Research, Bloomberg, Getty, Bridgewater Associates, Treasury, Securities, Muhlenkamp, Baidu, Google, North, Cambridge Associates, Allspring, Horizon Kinetics, Opportunities Fund, Credit Suisse Locations: industrials, West Africa, New York City, Guinea

☆ Your guide to Wall Street analyst research and how to use it like the investing pros
▼ + stars: | 2024-05-30 | by ( Scott Schnipper | ) www.cnbc.com time to read: +10 min

Wall Street sell-side research is a key part of the financial markets, written by analysts working for brokerage firms, investment banks and other institutions. Research reports An analyst's published research report might include a company overview with basic information about a company's business, products and position in the relevant market. This is especially true when an analyst is first initiating research coverage into a particular company or industry. Analyst recommendations affect stock prices every day , especially if an analyst or her firm is highly reputable or believed to hold expertise in a particular area. Contrarian indicators Analyst recommendations can occasionally act as a contrarian indicator , too.

Persons: Merrill Lynch, Henry Blodgett, Merrill Organizations: Research, Wall, Sarbanes, Oxley, Global, Securities and Exchange Commission, National Association of Securities Dealers, CNBC Pro Locations: Sarbanes

☆ Royal Mail owner agrees to ₤3.6 billion takeover by Czech billionaire Kretinsky
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

Royal Mail's parent company International Distributions Services said on Wednesday it had agreed to a 3.57 billion pound ($4.55 billion) formal takeover offer by Czech billionaire Daniel Kretinsky. The offer valued IDS, which owns Royal Mail and international parcels network GLS, at 370 pence per share. Royal Mail has been trying to transform itself into a parcel-led business as letter volumes declined sharply over the years. Kretinsky has said that private investment in Royal Mail was crucial given its challenging situation with poor service delivery, slow transformation and increasing competition. Any takeover bid for Royal Mail would be subject to "normal" national security scrutiny but it would not be opposed in principle, Finance Minister Jeremy Hunt said earlier.

Persons: Daniel Kretinsky, Keith Williams, Kretinsky, Jeremy Hunt, Jonathan Reynolds Organizations: International, Services, Royal Mail, Service, Government, IDS, Labour, VESA Equity Locations: Czech, London

☆ Record number of 401(k) savers have balances over $1 million
▼ + stars: | 2024-05-24 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

New York CNN —They are still a very small minority in the 401(k) universe, but there were a record number of 401(k) participants with balances over $1 million at the end of the first quarter this year, Fidelity Investments said Thursday. Fidelity is one of the largest providers of workplace retirement plans, and its 401(k) data is based on more than 23 million plan participants. The average balance for the so-called 401(k) “millionaires” came to $1,580,000, up from $1,551,300 in the fourth quarter, a Fidelity spokesperson said. Other 401(k) participants also saw increases in their balances in the first quarter. The average savings rate hit a record 14.2%, including employer matches, and is very close to the recommended 15% savings rate from Fidelity and retirement savings experts.

Persons: ”, ” Fidelity, “, Gen Xers Organizations: New, New York CNN, Fidelity Investments, Fidelity, Bloomberg, ”, Boomers, Pensions, Federal Locations: New York, United States

☆ Financial companies are getting creative about annuities
▼ + stars: | 2024-05-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

It’s fueling a huge rollout of new retirement products — but they’re not all golden tickets. “We didn’t really save much of anything.”However, jobs offering pension plans are harder to come by compared to previous decades. Over the past 40 years, defined contribution plans, also known as 401(k) plans, have taken their place. Americans currently hold over $7 trillion in 401(k) plans, according to data from the Investment Company Institute, a trade association. These types of retirement plans put the job of saving and investing on the employee.

Persons: CNN —, Jennifer Messina, “ I’m, ” Messina, ” Teresa Ghilarducci, ” Eric Stevenson, Roth, Ghilarducci, you’re, ”, There’s, she’s, we’ll, Messina Organizations: CNN, Alliance for Lifetime, Investment Company Institute, Social Security, Social Security Administration, Federal, The New School for Social Research, BlackRock, Nationwide, Messina Locations: Nutley , New Jersey, BlackRock, New Jersey, South Carolina, North Dakota

☆ Women are worried about their financial security. That may affect the 2024 presidential election
▼ + stars: | 2024-05-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Hannah Beier | ReutersOlder women are the largest bloc of swing voters — and the biggest concern they have heading into the November election is their financial security, according to the AARP. Gender pay gap leads to retirement income gapNotably, younger women share many of those same retirement concerns, according to recent research from the National Institute on Retirement Security, or NIRS. Women tend to have greater financial concerns about retirement compared with men, according to Tyler Bond, research director at NIRS. "There's still a persistent gender pay gap, which translates into a retirement income gap," Bond said. "In fact, the pay gap and the retirement income gap are almost exactly the same, which is what you would expect, because retirement income is basically a reflection of what you earn while working," he said.

Persons: Hannah Beier, —, Margie Omero, GBAO, Omero, Tyler Bond, Bond, We've Organizations: Rockledge, Reuters, AARP, Democratic, National Institute on Retirement Security Locations: Pennsylvania, Rockledge , Pennsylvania

☆ High inflation harms older households — and two factors determine who is most at risk, research finds
▼ + stars: | 2024-05-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

This year, Social Security beneficiaries saw a 3.2% increase to their benefits. The Social Security cost-of-living adjustment may also be 3.2% in 2025 based on the latest government inflation data, estimates Mary Johnson, an independent Social Security and Medicare policy analyst. That estimate may change between now and October, when the Social Security Administration announces next year's cost-of-living adjustment, or COLA. The average Social Security COLA has been 2.6% over the past 20 years, according to The Senior Citizens League. Many households tend to cut back on savings and increase withdrawals to try to lift themselves to where they were before inflation picked up.

Persons: Lourdes Balduque, Mary Johnson, Social Security COLA, Laura Quinby, It's, Quinby, Warren Buffett's Organizations: Social, Social Security, Social Security Administration, Senior Citizens League, Center for Retirement Research, Boston College, Center for Retirement, Finance

☆ The restaurant stocks that are killing it in this market have one thing in common
▼ + stars: | 2024-05-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +17 min

When a company performs well and I interview its CEO on CNBC, I consider the stock's performance before fashioning my questions. Maybe the company had been poorly run and the guest is a new CEO who is turning it around. Once Wood picks a stock, that company can do no wrong, which is code for she can do no wrong. And take it from me, an old Mexican restaurant veteran, it travels better than any other restaurant chain. We should have just bought Dutch Bros. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: Albert Manifold, Rather, That's, Chris Gibson, Jensen Huang, Huang, Gibson, Cathie Wood, Wood, that's, Brinker, Chipotle, Chipotle execs, Taco Bell, isn't, Yum, McDonald's, Laxman Narasimhan, Howard Schultz, let's, Narasimhan, Joe, Locker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: CNBC, Pharmaceuticals, Nvidia, ARK, Gallup, Darden, Diageo, Brands, KFC, Taco, Taco Bell, Texas, Starbucks, Management, Bros, Dutch Bros, Jim Cramer's Charitable, Starbucks Corp, Health, Education, Labor, Bloomberg, Getty Locations: United States, U.S, Dublin, Ireland, Europe, Texas, Olive, East, Israel, Washington , DC

☆ Just 4% of current retirees say they are 'living the dream,' survey finds. Here's why
▼ + stars: | 2024-05-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Brauns | E+ | Getty ImagesJust 4% of today's retirees said they are "living the dream," according to a new survey from asset management company Schroders. Image Source | Getty ImagesThe Schroders survey results come as more experts are pointing to a potential retirement crisis. "The retirement savings crisis in the United States is no longer looming: it is here, now," said a new report from the National Institute on Retirement Security. Not everyone agrees there is an emergencySome experts are skeptical there is a retirement savings crisis at all. Of seniors with more than $10,000 in retirement savings, 93% said they were doing okay or living comfortably.

Persons: —, Deb Boyden, That's, Warren Buffett's, Boyden, Andrew Biggs, George W, Bush, EBRI, Biggs Organizations: Getty, National Institute on Retirement Security, Finance, American Enterprise Institute, Social Security, Northwestern Mutual, Research Locations: —, United States

☆ ‘I will return to the US in an urn’: She moved to Portugal with her husband two years ago, and this American woman says she’s never coming back
▼ + stars: | 2024-05-08 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +12 min

‘Aha’ momentCynthia Wilson and her husband Craig Bjork relocated from the US to Marinha Grande, situated in the Leiria District of Portugal, just over two years ago. Community spiritThe couple celebrate Wilson's first birthday in Portugal with friends. “My Portuguese friends taught me that you have to first recognize their humanity,” says Wilson. There’s no place for that.”Wilson has warmly embraced the Portuguese way of life, particularly the focus on food, which has long been a big part of her life. Doing something odd.”Wilson and Bjork say that they’ve had “zero problems” since relocating to Portugal and couldn’t be happier.

Persons: CNN — They’d, Cynthia Wilson, Craig Bjork, Wilson, –, I’ve, ” Wilson, ”, Bjork, “, it’s, Wilson's, ’, Cynthia Wilson “ Retirement’s, that’s, I’m, hasn’t, ” “, ‘, they’ve, Dulce Silva, Sérgio Carvalho, grandly, Rainha Joia, Maria da Silva, Cynthia Wilson Wilson, “ There’s, couldn’t Organizations: CNN, CNN Travel, Facebook Locations: Portugal, Europe, Seattle, Estonia, Marinha, Leiria District, Lisbon, Kansas, Wichita , Kansas, Marinha Grande, Porto, Algarve, San Francisco, Manhattan, Florabela, America, “

☆ British neobank Monzo boosts funding round to $610 million to crack U.S. market, launch pensions
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

MonzoBritish neobank Monzo said Wednesday that it's raised another $190 million, lifting the total it's raised so far this year to $610 million. Singaporean sovereign wealth fund GIC also participated in Monzo's latest fundraise, a source familiar with the matter told CNBC. The total $610 million round marks the single-biggest funding round for a European fintech in the past year, according to Dealroom data. "What I like about how we're approaching this is, at the heart of it, it's not just words," Anil told CNBC in an exclusive interview Tuesday. European expansion is also on the cards, Anil said, although he didn't commit to a date for when this will happen.

Persons: Anil, Monzo, it's, GIC, we've, Monzo's, Revolut Organizations: CNBC, Hedosophia, Barclays, NatWest, BlackRock, JPMorgan, Citibank Locations: U.S, Berlin

☆ China is in the middle of its own retirement crisis as many older people cannot afford to stop working
▼ + stars: | 2024-05-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China is grappling with a retirement crisis as its population ages. According to OECD data, people over the age of 60 account for 13% of the country's workforce. China is anticipating another 300 million people to reach retirement age in the next 10 years. AdvertisementChina is going through a retirement crisis, with a significant portion of older people finding that they can't afford to stop working. That rivals the share of workers who are of retirement age in the US, where 10%-15% are aged 60 or older.

Persons: —, That's Organizations: Service, OECD, Reuters, Social Security, Budget, Trustees Locations: China

☆ Bernie Sanders is running for reelection
▼ + stars: | 2024-05-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Sen. Bernie Sanders is running for reelection in 2024. The 82-year-old is the last senator to announce his reelection plans this year. AdvertisementSen. Bernie Sanders of Vermont, the longest-serving independent in American history, will seek a 4th term in the US Senate later this year. He is the last US senator whose term ends in 2024 to announce whether or not he would seek reelection. Sanders is immensely popular in Vermont and is all but guaranteed to be reelected in November.

Persons: Sen, Bernie Sanders, —, Bernie Sanders of, coy, Republican Sen, Chuck Grassley, Sanders, Hillary Clinton, Alexandria Ocasio, Cortez, Joe Biden, Long, Biden's, That's, Sanders —, he's Organizations: Service, Democratic, Republican, Democratic Party, Health, Education, Labor, Pensions Locations: Bernie Sanders of Vermont, Iowa, Vermont, Alexandria, Gaza, Israel

☆ Howard Schultz says Starbucks needs to revamp its stores after big earnings miss
▼ + stars: | 2024-05-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Howard Schultz, former chief executive officer of Starbucks Corp., drinks from a Starbucks mug during a Senate Health, Education, Labor, and Pensions Committee hearing in Washington, DC, US, on Wednesday, March 29, 2023. The answer does not lie in data, but in the stores," Schultz wrote in a letter on Sunday evening posted to LinkedIn. He appeared to offer advice to his successor as he tries to turn the chain's sales around. "Leaders must model both humility and confidence as they work to restore trust and increase performance across the organization," Schultz wrote. A year and a half ago, Schultz told CNBC that he does not plan to come back as Starbucks' chief executive again.

Persons: Howard Schultz, Schultz, Sara Senatore, Laxman Narasimhan, Reckitt Organizations: Starbucks Corp, Health, Education, Labor, Starbucks, LinkedIn, Bank of America Securities, CNBC Locations: Washington , DC, U.S, East

☆ Jim Cramer says Howard Schultz's open letter to Starbucks is unlike anything he's seen before
▼ + stars: | 2024-05-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

The difficult road ahead for Club holding Starbucks took a dramatic, unexpected turn this weekend — one that Jim Cramer said he's not seen before in his four decades on Wall Street. "I think he's coming from the point of view just sadness about where the franchise is," Jim said. Narasimhan said Starbucks is working on a plan to speed up customer service and improve its supply chain. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Former Starbucks CEO Howard Schultz testifies about the company's labor and union practices during a Senate Committee on Health, Education, Labor and Pensions hearing on Capitol Hill in Washington, DC, March 29, 2023.

Persons: Jim Cramer, he's, Howard Schultz, Schultz, I've, Jim, Laxman Narasimhan, Kevin Johnson, SBUX, Narasimhan, Howard, Jim Cramer's, Saul Loeb Organizations: Club, Starbucks, CNBC, LinkedIn, Health, Education, Labor, Capitol, AFP, Getty Locations: U.S, North America, China, Washington , DC

☆ Americans ditch suffocating healthcare costs and divisive politics to retire in Italy: 'It's the way they approach life'
▼ + stars: | 2024-05-05 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +10 min

Some Americans are choosing to retire abroad because of healthcare costs and divisive politics. The US is no longer a desirable place to retireThere used to be a seemingly clear-cut path to retirement in the United States. According to Fidelity's 2023 Retiree Healthcare Cost Estimate, a single individual can spend an average of $157,000 on medical expenses and healthcare throughout retirement. Gregorio, 52, is an Italian-American who founded the international social network Expats Living in Rome in 2001. It also offers a community through Facebook groups like Expats Living in Rome and Expats Living in Italy, where people can ask questions and share updates on their journeys.

Persons: —, Eric, Christina Schwendeman's, Christina, Christina Schwendeman, Larry Fink, Micki Dukinfield, Micki, Dukinfield, Schwendemans, BUSS, It's, Donald Trump, Joe Biden, Colin Esaw, Ron DeSantis, Esaw, He's, Italy Patrizia Di Gregorio, Gregorio, Patrizia Di Gregorio, Expats Organizations: Service, US State Department, Social Security, BlackRock, AARP, Business, Trump, Republican, Facebook, BI, Super America Locations: Italy, Naples , Florida, United States, Clavesana, Italy's Piedmont, America, Minnesota, Vicenza, Venice, Vincenza, Florida, Ireland, Orlando, Scalea, Calabria, Italian, American, Rome

☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

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