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☆ Commerzbank and UniCredit set to meet as takeover prospect looms
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty ImagesCommerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. Speaking at a financial conference, Orlopp said the German bank was open minded, but that the speed of synergies and risks needed to be considered. The potential for a takeover or merger has been met with opposition from Germany's government and several senior figures at Commerzbank. Orlopp herself earlier this month told journalists that the process had taken Commerzbank by surprise, but urged a calm approach.

Persons: Krisztian Bocsi, Bettina Orlopp, Orlopp, Commerzbank, Manfred Knof, Germany's, Jens Weidmann, Stefan Wittmann Organizations: AG, Bloomberg, Getty, Reuters, CNBC Locations: Frankfurt, Germany, Commerzbank

Unless the economic outlook changes, mortgage rates may hold steady for the rest of 2024. If they were to weaken unexpectedly, that could spur the Fed to cut rates more aggressively, which in turn could push mortgage rates down further. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, They've, they've, Freddie Mac, it's, Fannie Mae Organizations: Fed, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Mortgage, Association Locations: Chevron

☆ Stock market today: S&P 500 notches fresh record on labor-market data and China stimulus pledge
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

The S&P 500 notched a new record on Thursday amid encouraging labor-market data and China stimulus. Go to newsletter preferences Thanks for signing up! AdvertisementUS stocks climbed on Thursday amid positive economic data and promises from China to roll out further stimulus measures. The S&P 500 notched a fresh record. Thursday's gains were also fueled by a pledge from Beijing to support China's economy with further stimulus measures, just days after the country unveiled a blitz of policies to reinvigorate its sluggish economy and real-estate market.

Persons: — Organizations: Micron, Service Locations: China, Beijing, Here's, Russia, Russia's

☆ Stock market today: Indexes rally on China stimulus, promising labor-market data
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday on positive jobs data and promises of further economic stimulus in China. AdvertisementUS stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. The indexes' gains were also fueled by positive labor market data. Meanwhile, second-quarter GDP came in unrevised at a 3% annualized rate, according to data released Thursday.

Persons: —, Eric Jackson, SocGen Organizations: Service, Labor Department, Federal Reserve Locations: China, unrevised

☆ China's surprise stimulus could be a red flag, so investors should approach the nation's long-awaited rally with caution
▼ + stars: | 2024-09-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.

Persons: —, they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic

☆ Australian, New Zealand dollars scale new highs on China boost
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +3 min

An Australian one-hundred dollar banknote, top, and a New Zealand one-hundred dollar banknote are arranged for a photograph in Hong Kong, China, on Thursday, March 13, 2014. The Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar, as China's aggressive stimulus package provided the latest shot in the arm for risk appetite. Data on Tuesday showed U.S. consumer confidence unexpectedly fell in September, amid mounting worries over the health of the labor market. Against a basket of currencies, the dollar last stood at 100.28, languishing near a more than one-year low of 100.21. The dollar index had fallen more than 0.5% in the previous session, its largest one-day percentage fall in a month.

Persons: Sterling, Carol Kong, Wells Organizations: New, Bank of, Federal Reserve, Commonwealth Bank of Australia, greenback, Markets Locations: Australian, New Zealand, Hong Kong, China, Bank of England, U.S, Wells Fargo

Megan Park’s “My Old Ass” isn’t the first film to ask whether it would be better to have a warning about what life has in store. Maisy Stella and Aubrey Plaza in "My Old Ass." Amazon MGM Studios“When I was writing ‘The Fallout,’ I was just flabbergasted as a millennial who grew up in Canada. Aubrey Plaza, Maisy Stella and director Megan Park attend the New York screening of "My Old Ass" on Sept. 12. Gesturing to Park and Plaza, she said, “When I read the script, I read it as if I was one of you guys looking back on my life.

Persons: Megan Park’s “, Maisy Stella, Aubrey, Stella, Elliott, Jenna Ortega, it’s, ”, ’ ”, Maddie Ziegler, Kerrice Brooks, Percy Hynes White, Aubrey Plaza, Megan Park, Steven Ferdman, Nashville ”, “, ” Stella, who’s, Mike White’s “, they’ve Organizations: Aubrey Plaza, Sundance, NBC News, MGM Studios, Nashville, Plaza, Recreation, ” Plaza, NBC Locations: Ontario, Canada, America, York, “, Stella

☆ The job market is about to rebound as widespread spending boosts the economy, Apollo chief economist says
▼ + stars: | 2024-09-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

In a note to clients, Slok issued a more positive outlook on the US job market, even as hiring has slowed this year. "It is inconsistent to say that the incoming economic data is strong but the labor market is weakening," Slok wrote. AdvertisementHowever, consumption and business spending data have been strong in recent months. If the 30-year fixed rate slumps to around 5%, that could that could spark a rebound in home sales, providing a boost to the economy and job market, Slok said. AdvertisementThe outlook for the job market, though, remains mixed, with some commentators warning that hiring could continue to slow due to the lagged impact of the Fed's rate hikes.

Persons: —, Torsten Slok, Slok, Freddie Mac, David Rosenberg, who's Organizations: Service, Apollo Global Management, Business, Bureau of Labor Statistics, Challenger, IRA, Atlanta Fed Locations: Atlanta

☆ How to create a continuity plan for your small business
▼ + stars: | 2024-09-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +5 min

A continuity plan is an essential tool designed to keep your small business operations humming even when there is a sudden emergency. Identify critical business functionsDocumenting your critical business functions will help prioritize tasks during an emergency. Make time for succession planning: Most small business owners want their business to continue even if they can no longer run it. State Farm® offers small business insurance options — such as a Business Owners Policy (BOP), which offers a combination of coverages to help protect your unique business. Your State Farm agent can help you protect your small business, so you can focus on growing your business.

Persons: —, it's Organizations: Fed, ®, Policy, State, Farm, Insider Studios

☆ Asia-Pacific markets open lower after Federal Reserve rate cut optimism sent markets higher last week
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month

Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore

☆ She was accused of murder after losing her pregnancy. SC woman now tells her story
▼ + stars: | 2024-09-23 | by ( Lauren Sausser | Kff Health News | ) edition.cnn.com time to read: +14 min

Orangeburg, South Carolina KFF Health News —Amari Marsh had just finished her junior year at South Carolina State University in May 2023 when she received a text message from a law enforcement officer. South Carolina state Rep. Seth Rose, a Democrat in Columbia and one of Marsh’s attorneys, called it a “really tragic” case. But at the hospital, Marsh learned that her infant, a girl, had not survived. Historically, birth outcomes for Black women in Orangeburg County, where Marsh lost her pregnancy, have ranked among the worst in South Carolina. She is taking classes at a local community college and hopes to reenroll at South Carolina State University to earn a four-year degree.

Persons: Amari Marsh, ” Marsh, Marsh, ”, Amari's, Herman Marsh, Regina, “, ’ ” Sam Wolfe, KFF, James Clyburn, ’ ” Clyburn, ‘, ’, “ I’ve, I’ve, Seth Rose, Zipporah, Amari, ” Sumpter, Sam Wolfe, Marsh “, y’all, David Pascoe, Pascoe, Dana Sussman, Court’s Dobbs, Dobbs, Holly Gatling, Michele Heisler, ” Chelsea Daniels, ” Daniels, Sumpter, Dr, Sanjay Gupta, God, Daniel Chang Organizations: South Carolina KFF Health, South Carolina State University, Calhoun Regional Detention, KFF Health, U.S, Supreme, Jackson, Health Organization, White, Rep, Carnegie Hall, Democrat, Regional Medical, South Carolina’s Republican, South, Judicial, Pregnancy, Local, The Times, South Carolina Citizens, Life, National, Physicians, Human Rights, Medical University of South, CNN, CNN Health, Health News, Health, KFF Locations: Orangeburg, South Carolina, Calhoun, “, Columbia, South, South Carolina’s, Miami, Florida, Montana , Missouri, Maryland, Medical University of South Carolina, Orangeburg County, Health News Florida

☆ China unexpectedly leaves benchmark lending rates unchanged after Fed's jumbo cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China on Friday kept its main benchmark lending rates unchanged at the monthly fixing. The People's Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%. The one-year LPR affects corporate and most household loans in China, while the five-year LPR acts as a benchmark for mortgage rates. Urban jobless rate rose to a six-month high, while year-on-year home prices fell at their fastest pace in nine years. Bank of America lowered their forecast for China's 2024 GDP growth to 4.8%, and Citigroup trimmed their projection to 4.7%.

Organizations: Reuters, People's Bank of China, Bank of America, Citigroup Locations: People's Republic of China, China

☆ My mom died when she was 48. I'm 46, and I'm worried I won't see my kids grow up.
▼ + stars: | 2024-09-20 | by ( Jason Keil | ) www.businessinsider.com time to read: +5 min

I felt a tremendous sense of guilt when my mother unexpectedly died on Christmas Eve in 2004 at the young age of 48. I think some of it stems from the guilt I've felt over her death. "But it's not a given that if your mom or dad died young, you're definitely going to die young." "Guilt is there because our culture does not provide children, especially young ones, with the reason why their parents died," she explains. Soon, she says, I will begin to realize that just because my mother died young doesn't mean I will, too.

Persons: didn't, I've, I'm, Jumoke Omojola, Omojola, doesn't Organizations: Service, Business, Social, National Institutes of Health Locations: Illinois, Kansas City , Missouri

☆ I quit Amazon after I cracked the code for promotions. It took me 14 years to become a principal engineer — here's how.
▼ + stars: | 2024-09-19 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +8 min

After multiple swift promotions that led me to become a senior software engineer by 2012, I found myself in a career rut. He knew of a job opening at Amazon for a support engineer role and guaranteed me he could snag me an interview. I slowly networked my way into monthly software engineer meetings and steadily expanded my frontier of exposure within the group. Then I asked my new software engineer friends to give me mock interviews. I miss writing code.

Persons: —, Steve Huynh, there's, didn't, I'd, Tess Martinelli Organizations: Service, Business, University of Washington, Amazon, Software, Ticketmaster, YouTube, Big Tech Locations: Seattle , Washington, tmartinelli

☆ 15 little-known facts about Phoebe that even die-hard 'Friends' fans may not know
▼ + stars: | 2024-09-19 | by ( Amory Rose | ) www.businessinsider.com time to read: +7 min

Even long-time "Friends" fans may not know some of the most intriguing facts about Phoebe, played by Lisa Kudrow. Phoebe once paused her vegetarian dietLisa Kudrow as Phoebe Buffay on "Friends." When she was younger, Phoebe mugged RossAfter Ross and Phoebe are mugged in season nine, Ross says the same thing happened to him as a teenager. AdvertisementRoss was the first of the friends that Phoebe metLisa Kudrow as Phoebe Buffay and David Schwimmer as Ross Geller. However, Phoebe mugged Ross 18 years before season nine, so she actually met Ross before meeting any of the other friends.

Persons: —, Phoebe Buffay, Phoebe, Lisa Kudrow, NBC Phoebe, Joey, isn't, Lily, Bob Balaban, Frank Buffay, Phoebe's, it's, he's, Frank Jr, Ursula Phoebe, Ursula, Chandler, Paul Rudd, Phoebe doesn't, Ross, Susan, Mike, Kudrow, David Schwimmer, Ross Geller, NBCUniversal, Monica, Rachel, She's, Denise, David Hume Kennerly Organizations: Service, Business, NBC, Getty Locations: Canadian, Vegas, Ross

☆ Steve Kornacki shares that his mom, Anne, has died
▼ + stars: | 2024-09-18 | by ( Ariana Brockington | ) www.nbcnews.com time to read: +2 min

NBC News’ Steve Kornacki announced that his mom, Anne B. (Ramonas) Kornacki, has died. (Ramonas) Kornacki, 1947-2024,” he simply wrote in an X post. The obituary described Anne B. Kornacki as a native of Waterbury, Connecticut, and a “devoted wife, mother, grandma and sister.”According to the obit, Anne B. Kornacki, died “unexpectedly” on Friday, Sept. 13 at Midcoast Hospital in Brunswick, Maine, surrounded by her family. The couple welcomed two children, Steve Kornacki and Katie Kornacki, and later opened a bed and breakfast.

Persons: Steve Kornacki, Anne B, “, ”, I’m, Casey, “ Anne B, Kornacki, Stephan J, Katie Kornacki, Steve, Grandma, ” Anne Kornacki, Brian Duffy Organizations: NBC, Midcoast Hospital Locations: Waterbury , Connecticut, Brunswick , Maine, Brunswick

☆ Gold flat as investors focus on Fed
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. The Fed is expected to announce a cut to interest rates for the first time in more than four years at 1800 GMT. Markets are now pricing in a 65% chance of a 50-basis-point rate cut, compared with 34% a week earlier, according to the CME FedWatch tool. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Matt Simpson, let's Organizations: Federal Reserve, Index Locations: ., Lebanon

☆ Hezbollah pagers suddenly explode across Lebanon
▼ + stars: | 2024-09-18 | by ( Erica Star Domena | Tamara Lindstrom | ) www.businessinsider.com time to read: 1 min

An attack on Hezbollah killed at least eight and left thousands of people across Lebanon injured when pagers unexpectedly detonated over a one-hour period. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Persons: pagers Organizations: Business Locations: Lebanon

☆ Japan's exports slow sharply, machinery orders shrink in blow to economic recovery
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

He said a boost from the weak yen to exports has faded as the Japanese currency rebounded sharply in August. Total exports rose 5.6% year-on-year in August, up for a ninth straight month, data showed on Wednesday, well below a median market forecast for a 10% increase and following a 10.3% rise in July. Exports to the United States dipped 0.7%, the first monthly decline in nearly three years, as auto sales slumped 14.2%. Those to China, Japan's biggest trading partner, rose 5.2% in August from a year earlier. The value of imports grew 2.3% in August from a year earlier, versus a 13.4% increase expected by economists.

Persons: Takeshi Minami Organizations: Asahi, Co, Bloomberg, Getty, U.S, Norinchukin Research Locations: Hekinan, Aichi Prefecture, Japan, U.S, China, United States

☆ Retail sales unexpectedly rise 0.1% in August
▼ + stars: | 2024-09-17 | 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 EmailRetail sales unexpectedly rise 0.1% in AugustCNBC's Rick Santelli joins 'Squawk Box' to break down the August retail sales data.

Persons: Rick Santelli

☆ Welcome to interest-rate cut week: Here's how the Fed's next move will impact everything from home prices to new cars loans
▼ + stars: | 2024-09-16 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

According to CME FedWatch, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases. Rate cuts will also eventually make it cheaper for small businesses to take out loans. A rate cut could cause a rush of buyers to enter the market in the short term, driving up prices and competition.

Persons: Jerome Powell, Michael Madowitz, she's, McTier, it'll, Mark Hamrick, Banks, Hamrick, NerdWallet, Sara Rathner Organizations: Service, Federal, CME FedWatch, Federal Reserve, Business, Washington Center for Equitable Growth, Fed, Consumer Financial, Bureau, asheffey Locations: Jackson Hole , Wyoming, McTier

The Federal Reserve is expected to start lowering rates this week, and mortgage rates are down as a result. But will mortgage rates drop further once the Fed cuts rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.

Persons: they've, Freddie Mac Organizations: Federal, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: Chevron

☆ Travel news: Hotels reveal their wildest room service orders
▼ + stars: | 2024-09-14 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

CNN —In travel news this week: odd room service requests, the cruise passengers stranded for months at their departure port, plus how a rogue bag of Cheetos caused havoc in a New Mexico cave. Unusual guest requestsFar be it from us to say folks are getting a little entitled, but a new report from Hotels.com has revealed the oddest room service requests made to its hotel partners around the world. There’s the separate requests that were fielded for burnt toast, fresh goat milk and 2 kilos of bananas. And finally there’s the demand for a high-five from a team member to ensure their room service request was read. The nine-month itinerary of Royal Caribbean’s Ultimate World Cruise was considerably less ambitious, but at least it successfully completed its journey this week.

Persons: Hotels.com, it’s, there’s, –, CNN Anne Marie Hagerty Organizations: CNN, Service, Atlanta, Delta Airbus Locations: New Mexico, York, Carlsbad, Hawaii, Oahu, Georgia, England, Argentina, British, Italy, “

☆ Cave fossils shed light on the disappearance of Neanderthals
▼ + stars: | 2024-09-14 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

But other chapters, like those describing the loss of our ancient ancestors, are harder to recover as time passes. A chance finding of bones in a cave is revealing clues of a much older tragic mystery. The once-in-a-lifetime find, nicknamed Thorin after a character in “The Hobbit,” has puzzled researchers for nearly a decade. The overall winner of the competition was photographer Ryan Imperio for his photo taken during the October 2023 annular solar eclipse. The phenomenon is visible for brief moments during an eclipse when sunlight shines through the moon’s valleys and craters, creating glowing drops of light.

Persons: Duke, Wellington, Gebhard Leberecht von Blücher, Napoleon Bonaparte, Thorin, Ludovic, ”, Yuha Hasegawa, Ryan Imperio, Imperio, Zhu Yubo, Rapa Nui, Christopher Columbus, Butch Wilmore, Suni Williams, Ashley Strickland, Katie Hunt Organizations: CNN, Japan’s Nagasaki University, “, International, Astronomy, Polaris, —, NASA, CNN Space, Science Locations: Brussels, Grotte Mandrin, Rhône, New Zealand, El, Rapa, USA, Americas

☆ Her teenage summer crush unexpectedly came back into her life. ‘I felt like I was reconnecting with my best friend’
▼ + stars: | 2024-09-13 | by ( Francesca Street | ) edition.cnn.com time to read: +19 min

He remembers the way she walked down the beach, recalls noticing her immediately, wanting to talk to her. “We’d download songs and listen to the album at the same time,” recalls Vlad. “The emotion was really, really intense. Iga OlszakWhile Vlad and Iga were together in Germany, they talked about the potential of Iga visiting Vlad in the US. “He created that space for me where it felt really good and I finally felt okay to say the truth,” she says.

Persons: Iga Olszak, Vlad Dimovski, Iga, Vlad, “, Skotina, ”, ” Vlad, ” Iga, …, wasn’t, –, that’s, ’ ”, Vlad’s, She’d, he’d, Iga –, weren’t, they’d, Olszak, I’d, who’d, ”, “ I’d, Will, ’ ” Vlad, Luca, Klara, They're, – he’d, “ I’m, we’ve Organizations: CNN, CNN Travel, “, Facebook Locations: Skotina, Greece, Poland, North Macedonia, Mount Olympus, Iga, Germany, Chicago, Republic of Macedonia, Europe, Bielefeld, “, Florida, Macedonia, pouting

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