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☆ Global debt has grown to $315 trillion this year — here's how we got here
▼ + stars: | 2024-05-29 | by ( Nessa Anwar | ) www.cnbc.com time to read: +2 min

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic. Around two-thirds of the $315 trillion owed originates from mature economies, with Japan and the United States contributing the most to that debt pile. Of the $315 trillion debt stock, household debt, which includes mortgages, credit cards and student debt, among others, amounted to $59.1 trillion. Business debt, which corporations use to finance their operations and growth, stood at $164.5 trillion, with the financial sector alone making up $70.4 trillion of that amount.

Persons: — Organizations: Institute of International Finance, United Locations: Japan, United States, China, India, Mexico

☆ Off-price retailers like TJX and Ross won't be slowing down any time soon — here's why
▼ + stars: | 2024-05-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. TJX and Ross both reported fiscal first quarter earnings last week that came in better than Wall Street expected, even as both companies lapped outsize growth from the prior-year period. Ross, which runs Ross Dress for Less and dd's Discounts, posted an 8% jump in sales, bringing revenue to $4.86 billion, compared to estimates of $4.83 billion, according to LSEG. "That's because they're providing consistent value to the consumer – and that's branded consistent value to the consumer at a discount price," said Roach. The dynamic is a bit different at Ross, which has more exposure to the lower- and middle-income consumer than TJX does and competes more on price, said Siegel.

Persons: Mario Anzuoni, Ross, it's, TJ Maxx, they've, Jessica Ramirez, Jane Hali, TJX, they'd, They've, Goldman Sachs, Brooke Roach, John Klinger, Michael Hartshorn, Roach, Simeon Siegel, Siegel, Ernie Herrman Organizations: Maxx, Reuters, TJX, Associates, Wall, Marshalls, CNBC, Walmart, BMO Capital Markets, Brands Locations: Pasadena , California, Homegoods, Ross

☆ Some iPhone users could be entitled to up to $350 as part of an Apple settlement — here's how to know if you qualify
▼ + stars: | 2024-05-24 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Read previewApple recently reached a $35 million settlement with iPhone 7 and iPhone 7 Plus users who said their phones had audio problems. It argues the iPhone 7 and iPhone 7 Plus had audio issues related to the "audio IC chip." Apple iPhone 7. AdvertisementHow much money could iPhone customers receive? If customers don't select a payment method and provide payment information, they'll remain in the settlement class but cannot receive payment.

Persons: —, Apple, Spencer Platt, Andrea Gold, Greg Coleman, Coleman Organizations: Service, Business, Apple, Getty, United States Locations: United

☆ TJX jumps 4% to a new high after earnings — here's what investors love about the report
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. Executives also said they see further ability to grow because TJX is becoming an increasingly important channel for its vendors. In the quarter, TJX returned a total of $886 million to shareholders in the quarter, with $609 million coming via buybacks and another $377 in dividend payments. Full year sales guidance was revised lower by about $150 million at the midpoint due to foreign exchange dynamics. Comparable same store sales guidance was left unchanged.

Persons: Wednesday's, Ernie Herrman, TJX, Herrman, we're, HomeGoods, John Klinger, Klinger, Jim Cramer's, Jim Cramer, Jim, TJMaxx, Jeff Greenberg Organizations: TJX Companies, LSEG, TJX, Marshalls, Ross Stores, Burlington Stores, Consumers, Companies, TJX Canada, Management, CNBC, Universal, Getty Locations: Maxx, HomeGoods, U.S, buybacks, Canada, Florida, Port

☆ Troubling market internals warrant buying some portfolio protection — Here's how
▼ + stars: | 2024-05-22 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

As equity markets print new all-time highs and the CBOE Volatility Index prints 52-week lows, this should be considered as a bullish outlook by all accounts. However, if we look under the hood, the internals during this rally concern me and in my opinion, warrants buying some protection on these all-time highs. If we look at the Sector Rotation RRG Chart, we see that over the past five weeks, the rally in the S & P 500 has been led by utilities, energy and staples. With materials and industrials also rolling over, we simply lack the confidence to call a strong bull market on the recent all-time highs. I'm going out to July and buying the $530 puts on the SPDR S & P 500 ETF Trust (SPY) for $7.35, which is only 1.3% of the SPY's value to buy over 2 months of protection.

Organizations: Trust

☆ The decision to sell your home vs. rent it out is 'complicated,' experts say — what to know
▼ + stars: | 2024-05-21 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

A "For Rent" sign is posted near a home in Houston, Texas, on Feb. 7, 2022. Many Americans are sitting on low-interest-rate mortgages and could face a decision when it's time to move: sell or rent out their existing property. By comparison, the average 30-year fixed-rate mortgage was around 7% in May. That makes qualifying for a second mortgage harder, especially without tapping equity from your original property, Gumbinger said. Plus, if you're using rental income to qualify for the second mortgage, lenders typically only consider 75% of your proceeds, Gumbinger said.

Persons: Keith Gumbinger, Homeownership, Gumbinger, homebuyers Organizations: Federal Housing Finance Agency, Finance, Trump, National Association of Realtors Locations: Houston , Texas

☆ I work in the unpredictable film industry so I started blogging as a side hustle. Now it supports me fully — here's how I built it.
▼ + stars: | 2024-05-21 | by ( Elle Hardy | ) www.businessinsider.com time to read: +6 min

I could be on a three-month film set or a nine-month series set and then go months without a call. I started working on YouTube thumbnails and event flyers for the music industry. For example, a friend helped repair my dishwasher, so I put together "gift ideas for makers and tinkers." AdvertisementI started posting in groups and asking for gift ideas to write blog posts about. It's not money I would make on a film set, but it was something.

Persons: —, Ana Julia Gomes, I've, John Wick, Jessica Jones, It's, I'm, DINK Organizations: Service, Business, Constellation, Apple, DJ, WordPress, Facebook Locations: Berlin, Cuba, Miami, New York City

☆ Microsoft is about to show off its next move in AI. Here's what to expect.
▼ + stars: | 2024-05-20 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewIt's about to be a big week for Microsoft. Copilot and other AI features in WindowsWedbush analysts expect Microsoft to roll out more Copilot and AI features into its consumer and enterprise product stack. Related storiesIves said putting AI features into Windows will give developers the foundation to build AI use cases through Windows and, ultimately, Azure. Ives said the new AI Surface updates will start a new PC-driven cycle that's "AI-led, from Dell to Microsoft, and ultimately to Apple as well." But according to Ives, Microsoft will be a "showstopper."

Persons: —, Dan Ives, Wedbush's, Wedbush, Ives, Google Organizations: Service, Microsoft, Google, Business, Windows, Oracle, Apple, Dell, Ives

☆ Trump-era tax cuts set to expire after 2025 — here's what you need to know
▼ + stars: | 2024-05-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

The TCJA reduced federal income tax rates across the board, with the top rate falling to 37% from 39.6%. That would return the federal income tax rates to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%. In the meantime, some higher earners have been leveraging lower income tax rates through 2025 by incurring income now, experts say. The standard deduction could fallWhen filing taxes, you claim the standard deduction or itemized deductions, whichever is greater. Before 2018, about 70% of taxpayers claimed the standard deduction, compared with 90% in tax year 2020, according to the Tax Policy Center.

Persons: Donald Trump, Michael M, Erica York, Roth, it's, Gleckman, Robert Dietz Organizations: Santiago, Getty, Tax, Center, Federal Tax, Senate, Bernstein Private Wealth Management, CNBC Locations: Wildwood Beach, Wildwood , New Jersey, California , New Jersey, New York, Minneapolis

☆ The Magnificent 7 companies are worth a combined $14 trillion — here's how much their CEOs make
▼ + stars: | 2024-05-18 | by ( Ana Altchek | Jyoti Mann | ) www.businessinsider.com time to read: +1 min

The "Magnificent Seven" companies include Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. Here's who earns the most, how much they all made last year, and how it breaks down. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe "Magnificent Seven" companies — Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla — have a combined value of nearly $14 trillion.

Persons: Tesla, trillions, Here's, —, Tim Cook's, Andy Jassy Organizations: Apple, Meta, Microsoft, Nvidia, Service, Big Tech, Business

☆ Lord Kilmartin courts Francesca in 'Bridgerton' season 3 — here's what happens to them in the books
▼ + stars: | 2024-05-17 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +1 min

Francesca Bridgerton's story begins in season three of "Bridgerton." AdvertisementWarning: Major spoilers ahead for season three, part one of "Bridgerton," and "When He Was Wicked," the sixth Bridgerton book. This season, "Bridgerton's" romantic subplot is almost as compelling as its main storyline. While Colin Bridgerton (Luke Newton) and Penelope Featherington (Nicola Coughlan) get their act together, another character also makes romantic inroads: Francesca (Hannah Dodd), the sixth Bridgerton sibling. This story is available exclusively to Business Insider subscribers.

Persons: Francesca Bridgerton's, Julia Quinn's, John Stirling —, —, Colin Bridgerton, Luke Newton, Penelope Featherington, Nicola Coughlan, Francesca, Hannah Dodd Organizations: Service, Business

☆ Campus protests called for schools to divest from Israel — Here's how that would actually work
▼ + stars: | 2024-05-17 | by ( Anuz Thapa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCampus protests called for schools to divest from Israel — Here's how that would actually workU.S. colleges grabbed global attention in recent weeks as students organized demonstrations protesting the ongoing Israel-Hamas conflict. Students from over a hundred universities, including prestigious institutions like Columbia, Yale, Harvard, and UCLA, rallied around one primary demand: Divest from Israel. Watch the video to understand what 'divestment for Israel' means and whether it has any significant impact.

Persons: Israel — Organizations: Columbia, Yale, Harvard, UCLA Locations: Israel

☆ Lady Tilley Arnold is Benedict's new love interest on 'Bridgerton' season 3 — here's what to know about her, and if she's in the books
▼ + stars: | 2024-05-17 | by ( Olivia Singh | ) www.businessinsider.com time to read: +5 min

Benedict Bridgerton has a new love interest on season three of "Bridgerton" — a widow named Lady Tilley Arnold who's in no rush to remarry but is enjoying the company of the titular family's second-born sibling. AdvertisementLady Tilley Arnold doesn't appear in Julia Quinn's Bridgerton book seriesHannah New as Lady Tilley Arnold on season three, episode three of "Bridgerton." Hannah New as Lady Tilley Arnold and Luke Thompson as Benedict Bridgerton on season three, episode three of "Bridgerton." Does Benedict Bridgerton end up marrying Lady Tilley Arnold? Hannah New as Lady Tilley Arnold and Luke Thompson as Benedict Bridgerton on season three, episode three of "Bridgerton."

Persons: —, Benedict Bridgerton, Lady Tilley Arnold who's, Hannah New, Benedict, Luke Thompson, Tilley, Julia Quinn's, Lady Tilley Arnold doesn't, Julia Quinn's Bridgerton, Lady Tilley Arnold, Liam Daniel, Netflix Lady Tilley Arnold isn't, Lord Hawkins, she's, Hawkins, Lady Hawkins, Tilley's, Charlotte's, Golda Rosheuvel, Eloise Bridgerton's, Theo Sharpe, Sophie Beckett, Jess Brownell Organizations: Service, Business, Netflix, TV Locations: Mayfair

☆ Royal Caribbean and Norwegian have serious sustainable-food-supply-chain goals — here's how they compare
▼ + stars: | 2024-05-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Royal Caribbean Group and Norwegian Cruise Line Holdings aim to source their foods more sustainably. In 2023, the cruise giants Royal Caribbean Group and Norwegian Cruise Line Holdings accommodated more than 10.3 million travelers. Both companies have been increasingly shopping localBoth Norwegian and Royal Caribbean want to be net zero emissions by 2050. Royal Caribbean did not respond to an inquiry about its beef initiatives or plans to expand its plant-based offerings. That's not to mention all the heat that cruise companies already take for operating ships that are bad for the environment.

Persons: —, Brittany Chang, Linken D'Souza, Royal Caribbean's, Bambi Semroc, it's, Ravi Anupindi, Anupindi, Royal, Semroc Organizations: Royal Caribbean Group, Cruise Line Holdings, Chain Management, Service, Norwegian, Royal, Business, Royal Caribbean's, Conservation, University of Michigan's Ross School of Business, Marine Stewardship Council, Aquaculture, Council, Global Animal Partnership, Regent Seven Locations: buffets, Royal Caribbean, Europe, Seattle, Vancouver, Florida, California, New York City, Norwegian, Oceania

☆ AI may not replace you, but someone who uses it can — here's the No.1 skill you need to stay relevant
▼ + stars: | 2024-05-13 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

55% of leaders say they're concered about having enough talent to fill roles in the year ahead as AI skills become more relevant than ever before, new study finds. 71% [of leaders] say they'd rather hire a less experienced candidate with AI skills than a more experienced candidate without them. As a result, employees around the world are taking matters into their own hands, learning to use AI tools on their own. "You should not be using your company data or any of your own personal data [when using free online AI tools]." Part of upskilling on AI tools is learning how to do so safely and effectively.

Persons: Laurence Liew, they'd, ChatGPT, Liew, Microsoft's Organizations: AI Singapore, Microsoft, Singapore Locations: Singapore

☆ Hybrid sales are booming — here's why drivers are buying them over EVs
▼ + stars: | 2024-05-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +6 min

Hybrid sales are booming in the US. In his latest earnings report, the company blamed demand for hybrid vehicles for depressing global EV sales. "We believe this is not the right strategy, and electric vehicles will ultimately dominate the market," he added. "A lot of hybrid electric vehicles now are not far off from their internal combustion engine alternatives. "What we've seen historically is that when gas prices rise, hybrid electric vehicle price or acquisitions rise as well," he told BI.

Persons: —, Elon Musk, Nick O'Brien, O'Brien, EVs, Edmunds, Mark Singer, Tesla, Jeff Buchanan, Buchanan, Singer Organizations: Toyota, Service, EV, General Motors, Ford, Business, Jefferson Community College, Maverick, New York Times, National Renewable Energy Laboratory, Soaring, Singer, US Locations: Edmunds, North America, Kentucky

☆ A 'severe' geomagnetic storm is forecast for Earth for the first time in years — here's what to know about these storms
▼ + stars: | 2024-05-10 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +4 min

Read previewFor the first time in nearly 20 years, the National Oceanic and Atmospheric Administration has forecasted a "severe" G4 geomagnetic storm to hit this Friday, dazzling states across the northern US with aurora. G4 storms are the second-strongest type of geomagnetic storm. "If geomagnetic storms were hurricanes, 'severe' would be category 4," according to SpaceWeather.com. Solar storms happen when the sun shoots powerful explosions of highly-energized and magnetic plasma called coronal mass ejections toward Earth. Also, a severe storm might disrupt GPS, so it's best to have a written record and directions to important locations, like hospitals.

Persons: —, Matt Owens, Owens, George Lepp, Alex Young, NASA Goddard's, it's, Young Organizations: Service, National Oceanic, Atmospheric Administration, Business, University of Reading, NASA, NOAA, Northern, NASA Goddard's Heliophysics Locations: Sweden, South Africa, Michigan, New York, Pennsylvania

☆ New grads may have a harder time landing their dream job, despite a strong labor market — here's why
▼ + stars: | 2024-05-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"The fact remains that the job market has remained more robust and resilient than had been expected," he added. And yet, there are a few things that young adults entering the job market aren't willing to compromise on, especially when it comes to work-life balance. Going forward, however, there may be fewer remote options for those just starting out. Where new grads get the best bang for their buckCompanies with remote work opportunities will allow job seekers to cast a wider net, Salemi said. After years of high inflation, new grads must also contend with elevated food, transportation and housing costs, depending on where they go.

Persons: Mike Segar, Mark Hamrick, Monster, Vicki Salemi, Salemi Organizations: City College of New York, Reuters, Istock, Getty Locations: U.S, Manhattan , New York

Indeed, starting at $499, the Pixel 8a is less expensive than the base $699 Pixel 8 and $999 Pixel 8 Pro. AdvertisementGoogle Pixel 8a: FeaturesThe Google Pixel 8a in "Aloe" (left) and "Bay" (right). The Pixel 8a's cameras aren't the same as the Pixel 8's — they're actually the identical cameras from the Pixel 7a. AdvertisementGoogle Pixel 8a: PriceThere are two storage options for the Pixel 8a models, 128GB and 256GB, with the higher storage option only available in the "Obsidian" colorway. Storage Pixel 8a 128GB $499 256GB $559AdvertisementThe Google Pixel 8a is available for preorder now from the online Google Store, Best Buy, Amazon, and carriers like Verizon.

Persons: It's, they're, we're Organizations: Business, preorder, Google, Verizon Locations: 120Hz

☆ More home sellers are paying capital gains taxes — here’s how to reduce your bill
▼ + stars: | 2024-05-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

More Americans are paying capital gains taxes on home sale profits amid soaring property values — but there are ways to reduce your bill, experts say. In 2023, nearly 8% of U.S. home sales yielded profits exceeding $500,000, compared to about 3% in 2019, according to an April report from real estate data firm CoreLogic. It's key for a special tax break for homeowners who make a profit when selling a primary residence. Married couples filing together can make up to $500,000 on the sale without owing capital gains taxes. "With the recent rise in home values, more sellers have been facing a capital gains tax hit," Quinones said.

Persons: Jaime Quinones, " Quinones Organizations: Finance, Stockade Wealth Management Locations: U.S, Marlboro , New Jersey

☆ Apple CEO Tim Cook made $63 million last year — here's how that breaks down
▼ + stars: | 2024-05-03 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Apple CEO Tim Cook's base salary has been $3 million a year since 2016. His total compensation was $63.2 million in 2023, down from $99.4 million the previous year. AdvertisementApple chief Tim Cook has been paid an annual salary of just $3 million since 2016. However, the CEO of the second-most valuable US company also gets stock awards and a performance-based bonus, which boosts his overall earnings. His pay packet was made up of $46.9 million in stock awards and $10.7 million in non-equity incentive plan compensation.

Persons: Tim Cook's, —, Tim Cook, Cook, It's, Apple Organizations: Apple, Service, SEC, Forbes, Bloomberg, Developers Conference, Business Locations: China

☆ Citadel's stock-pickers lead the way in April — here's how hedge fund competitors fared
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $61 billion Citadel is leading multistrat funds in performance this year. The firm's flagship fund returned 2% in April, bringing 2024 gains to 7.8%. Firms such as Walleye, Millennium, and Schonfeld are also off to a strong start this year. Despite equity markets tumbling in April, Ken Griffin's teams of stockpickers helped lead his firm to a 2% return in its $61 billion flagship fund. A person close to Griffin's Citadel told Business Insider that Wellington's year-to-date returns rose to 7.8% following April's gains.

Persons: Ken Griffin's, stockpickers Organizations: Citadel, Walleye, Griffin's Citadel, Business Locations: Miami

☆ I switched my vegan restaurants to serving meat after realizing plant-based diets aren't the answer — here's why
▼ + stars: | 2024-05-02 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +6 min

She told BI the market is saturated with vegan options, making purely vegan restaurants obsolete. AdvertisementThis as-told-to essay is based on a conversation with Mollie Englehart, executive chef at Sage Regenerative Kitchen & Brewery in California. Last month, Englehart announced that her restaurants, which were called Sage Vegan Bistro, would now offer meat, dairy, and eggs to customers. It's almost like everybody adding a vegan option makes the vegan restaurant obsolete because there's no need for it. It's not just an epidemic of vegan restaurants closing; I think for restaurants post-pandemic, it was generally really hard to recover.

Persons: Mollie Englehart, —, Englehart, we're, BJ's, It's, I've Organizations: Service, Regenerative Locations: California, Pasadena, Beverly, Burger

☆ Some iPhone users say their alarms haven't been going off lately — here's what to do about it
▼ + stars: | 2024-05-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

If you didn't hear your iPhone alarm go off lately, it might not have just been you oversleeping. Some iPhone users say their alarms haven't been sounding recently. Apple is reportedly working on a fix, but for now here's what you should check in your settings. AdvertisementIf you slept through your iPhone alarm recently, it might not have necessarily been your fault. Some iPhone users say their alarms haven't been working lately, taking to social media to vent — with some saying they were late to work or school after multiple alarms they'd set didn't go off.

Persons: —, Apple, there's Organizations: Apple, Service

Changpeng Zhao, the founder and former CEO of crypto exchange Binance, heads to a Seattle courtroom on Tuesday to learn whether the crimes he admitted to committing will land him in prison for an extended sentence. As part of his plea deal with the Department of Justice, Zhao agreed to step down as CEO. Once a titan of the crypto sector, Zhao grew Binance into the world's largest centralized crypto exchange globally. Unlike rival exchange FTX, which collapsed into bankruptcy when founder Sam Bankman-Fried was criminally charged, Binance has continued to operate. Binance processed a whopping $18.1 trillion worth of trading volume in 2023, according to data from CCData, a crypto market data firm.

Persons: Changpeng Zhao, Zhao, Richard Jones, Binance, Sam Bankman, Fried, Nansen, he's Organizations: Department of Justice, District, Prosecutors, Bank, U.S, Justice Department, Futures Trading Commission, Treasury Department, SEC Locations: Seattle, U.S, CCData, Iran

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