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CNN —The USA Basketball Men’s National Team survived a late Australia fightback in an underwhelming 98-92 victory in an Olympic warmup game on Monday. But when Australia missed chances to reduce the deficit further, back-to-back three-pointers from Tyrese Haliburton sealed the USA win. Not that it’s often mattered, though, with Team USA winning seven of the eight men’s basketball gold medals on offer since professionals were able to participate for the first time at Barcelona 1992. “We stopped playing mid third quarter and started turning the ball over,” Team USA coach Steve Kerr said, per the NBA. For Australia, the defending Olympic bronze medalist, Jock Landale scored a game high 20 points to go with seven rebounds and six assists in a standout performance.
Persons: Haliburton, Devin Booker, , Steve Kerr, Anthony Davis, Anthony Edwards, Jock Landale, ” Davis, we’ve, Organizations: CNN, Men’s, Boomers, Australia, USA, Phoenix Suns, Team USA, Barcelona, , Los Angeles Lakers Locations: Australia
Senior housing stocks are set to take off as the American population ages, according to Bank of America. Ventas' portfolio includes senior housing communities, medical office buildings and other health-care facilities. Bank of America sees "significant" senior housing operating margins upside ahead, driven by cyclical and secular growth. However, a nonrenewal and a conversion of the properties to Ventas' senior housing operating portfolio would provide an additional 1.2% boost to net operating income, he said. That said, Ventas is not the only senior housing REIT that Bank of America likes.
Persons: Joshua Dennerlein, Dennerlein, Brookdale, Ventas Organizations: Bank of America, . Census, Healthcare Locations: Brookdale
He works two or three days a week at a Walmart warehouse and cashes his monthly Social Security check, which he said is enough to finance his "simple" lifestyle. AdvertisementHe lives in Finleyville, Pennsylvania, a town 45 minutes south of Pittsburgh and receives $1,022 a month in Social Security, according to documents viewed by BI. Some are living paycheck to paycheck on Social Security, which could start shrinking by 2030 . The paychecks help supplement this Social Security income, and he said the job keeps him active and social. Are you an older adult living on Social Security?
Persons: , George Dziamniski, frugally, Dziamniski, doesn't Organizations: Service, Walmart, Social Security, Business, BI, Northwestern Mutual, Survey, SNAP, Medicare Locations: Finleyville , Pennsylvania, Pittsburgh, Finleyville
Up to $9 trillion is expected to be passed along to spouses and partners in the coming years as part of what's being called "the horizontal wealth transfer," according to a new report. Yet because surviving spouses and partners typically get the initial inheritances, and because women typically outlive men, bequests in the coming years will largely go to women, according to the UBS Global Wealth Report. UBS calls it the "horizontal wealth transfer," since the wealth is moving intra-generationally rather than intergenerationally. "Most people have a rather feudal idea of wealth going down through generations," said Paul Donovan, chief economist of UBS Global Wealth Management. According to the report, the largest horizontal wealth transfers will be in the Americas.
Persons: Paul Donovan Organizations: UBS Global Wealth, UBS, UBS Global Wealth Management Locations: what's, Americas
AdvertisementEllen was a member of Alliance Française, an organization centered on learning French and understanding the culture in France. It helped that we belong to the Association of American Residents Overseas, which has about 1,000 members in Paris. The food markets are phenomenalOn any given day except Monday, Paris hosts huge, open-air food markets where farmers arrive to sell their fresh produce. It's a walkable cityParis is the most walkable city I've ever been in. I've heard three or four French people who have spent time in either the US or Canada and then moved back to France.
Persons: , Rick Jones, Ellen Bryson, who've, Ellen, I'd, Jones, It's, who's, Bryson, We'll, I've, don't, Macron Organizations: Service, Navy SEAL, Business, Left Bank, Association of American Residents Overseas, Paris, Vitesse, Global, Equality Locations: Buenos Aires, Norfolk, Virginia, San Diego, London, Persian, France, Paris, San Francisco, Marseille, Liberty, Canada
MJ's kids include two of his own and two stepchildren, all aged between 35 to 46. AdvertisementHe's among a growing cohort of boomers who are passing on their wealth at an earlier stage in life, financial planners previously told BI. "We consider inheritances and money from families a gift of love," Gideon Drucker, president and financial planner at Drucker Wealth, previously told BI. The money he gifts to his kids comes with no strings attached — they are free to spend it how they see fit. "I'm not going to put them all into retirement with what I'm leaving them.
Persons: he's, Bill Perkins, boomers, Gideon Drucker, MJ, Here's, I've, Drucker, Warren Buffett, Bill Gates, Mark Zuckerberg, Buffet, I'm Organizations: Service, Business, Drucker Wealth Locations: Alberta, Canada
Dr. Leana Wen: I was disheartened, though not surprised, to see that it was so common for women, especially young women, to forgo health screenings. LifestyleVisuals/iStockphoto/Getty ImagesCNN: Why are regular health screenings so important for women, including young women? Wen: This study focused on health screenings for cancer, so let’s start there. All of this makes the survey results of young women neglecting their health screenings even more distressing. CNN: What cancer screenings are recommended for younger women?
Persons: millennials, Leana Wen, Wen, What’s Organizations: CNN, Gallup, George Washington University, Getty, US Preventive Services Task Force Locations: United States
Read previewMark Zuckerberg, who just celebrated his 40th birthday, is a millennial. But is he the most famous millennial? Who else could be the most well-known millennial? Kim Jung Un: I mean, he is a very well-known millennial. Ultimately, reasonable people can disagree on who is the most well-known millennial.
Persons: , Mark Zuckerberg, Zuckerberg, Nick Clegg, Peter Thiel, Sheryl Sandberg, Antonio Lucio, Marc Andreessen, Thiel, Gen X, there's, He's, Muhammad Ali, Justin Bieber, LeBron James, Cristiano Ronaldo, Lionel Messi, Messi, Ronaldo, Taylor Swift, Swift, Shakira, Prince William, Kim Jung Un Organizations: Service, Tech, Facebook, Business, Meta, Globally, Google Locations: Tennesee
Housing prices around the country have been rising at a dizzying pace since the pandemic, increasing 6% on average in just the last year. With these rapid increases, homeowners can command a pretty penny in today's red-hot housing market. But according to Bank of America, there's still room for prices to go higher. AdvertisementBank of AmericaAlthough the Fed is expected to cut rates later this year, Bank of America doesn't foresee mortgage rates falling much in the near future. Prices could increase beyond 2026In this market, homeowners can take advantage of at least two more years of price appreciation.
Persons: , there's, Michael Gapen, Gapen doesn't, Gapen, Millennials Organizations: Service, Bank of America, Business, National Association of Realtors
Recently, the client's parents told him they were going to up that amount — to $60,000 a year for the next 10 years — but that would be it. Boomers waiting to pass down their wealth until their kids are much older has partially contributed to the rise in geriatric millionaires, BI previously reported. Related storiesGideon Drucker, president and financial planner at Drucker Wealth, said he is also seeing more older people proactively passing down their wealth. He tends to work with clients in their 30s and 40s, while his dad, who leads their senior division, works with those clients' parents, figuratively and, in some cases, literally. One thing Drucker cautions against is giving your kids money in a way that might up their standard of living to a level they can't actually sustain.
Persons: , Sophia Bera Daigle, Daigle, Gideon Drucker, Drucker Organizations: Service, Business, grandkids, Boomers, millennials, Drucker Wealth
Insider Today: Biden's denial
  + stars: | 2024-07-07 | by ( Matt Turner | ) www.businessinsider.com   time to read: +4 min
This week's dispatchWin McNamee/Getty Images; iStock; Rebecca Zisser/BIPressure on Biden buildsUS President Joe Biden had a terrible debate. He's done little to turn things around since and appears to be in denial over the damage done to his campaign. AdvertisementThat's the story of a critical 10-day period in the US presidential race, which kicked off with Biden's historically bad debate performance. Biden's poor performance led to a Democrat freak out and growing calls for Biden to step aside. Neither sentiment is likely to satisfy the many Democrats who have serious concerns about Biden's mental acuity and electability.
Persons: , Win McNamee, Rebecca Zisser, Joe Biden, He's, Biden, Donald Trump, ABC's George Stephanopoulos, Trump, Lorenzo Matteucci, It's, Alyssa Powell, they're, Tyler Le, Jared Siskin, Bobby Jain, Pete Ballmer, Steve Ballmer Organizations: Service, Business, Biden, Democrats, Republican, Trump, Madison, Park Conservancy, Jain Locations: Park
Read previewMirna Valerio is well aware that she doesn't look like a stereotypical runner. That hasn't stopped the founder of the "Fat Girl Running" blog from running 11 marathons and 16 ultramarathons. Valerio, 48, started running in high school as part of field hockey training. Valerio running a six-day ultramarathon with lululemon's "Further" campaign. Sven BrunsoForget what you think running should look likeValerio said it doesn't matter what you look like, "athletics is for everyone."
Persons: , hasn't, Valerio, Sven Brunso, she'd, Valeria Organizations: Service, Business, Nielsen, World Athletics Locations: Tiktok
Socks from Alo and sneakers from Asics are some of the most coveted items by men right now. These items have become status symbols of sorts, showcasing men's wealth and style. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As it turns out, a few items help men tap into their rizz. But there are also some more affordable pieces — like Asics sneakers and trendy socks — that have also become status symbols for men.
Persons: Alo, , Gen Z, — haven't Organizations: Service, Dior, Business Locations: Dior cologne
Read previewA CEO caused a stir on X with a post about the workplace culture he promotes. Rob Dance, who is the founder of Rock, one of the UK's largest IT consultancies, wrote a list on a whiteboard of things he was "sick of hearing" from his employees. Some people responded to the thread, thinking Dance was suggesting he expected his employees to always be at their desks. "Well, I would also say that means you're extremely stressed, and you're going to burn out," she added. "Rather than driving to the point where they start adopting destructive behaviors that affect themselves or affect the company."
Persons: , Rob Dance, I've, Gandy, Gen Xers, There's, Kevin Legg, Sage, Legg Organizations: Service, Business, Skillsoft, Junior, CNBC, Gartner Locations: millennials
Scottsdale, Arizona, is the best place in the US to retire, according to a recent Niche ranking. Niche's ranking considers weather, health, wellness, and outdoor activities. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Boomers across the US are in their retirement era, and many of them are moving to Scottsdale, Arizona, recently ranked as the best place in America to retire by Niche. The website's ranking considers factors like weather, health and wellness, and outdoor activities.
Persons: Organizations: Service, Boomers, Niche Locations: Scottsdale , Arizona, America
"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."
Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, , Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's
Additionally, he's 57 and his Social Security check won't kick in until he's at least 62. Related storiesDacus and Stephen live in Robinson, Illinois, on their combined monthly Social Security income of $2,140. Sometimes, she has to request an advance on their Social Security checks so they can pay for their meals or utilities. AdvertisementBabin said it's especially difficult for older adults to qualify for government assistance even if their Social Security income doesn't cover basic necessities. AdvertisementIn retirement, Hambrick thought she would be "traveling to new places and having fun with my husband."
Persons: , Hambrick, Social Security Mary Dacus, Stephen, Dacus, we'll, Angela Babin, Babin, Hurricane Ida, doesn't Organizations: Service, Social Security, Business, Northwestern Mutual, Income, Alliance for Lifetime, Survey, Security, Social, Medicare, SNAP, Boomers Locations: Tulsa , Oklahoma, America, Robinson , Illinois, Houma , Louisiana, New Orleans, Florida
Americans think they need a whole lot more money than they're making to feel comfortable, according to a new survey. The latest survey from Bankrate, which polled 2,407 US adults from May 16 to 20, looks at how much Americans think they need to make to feel financially secure. According to the survey, Gen Z respondents said a $200,000 annual salary would ensure their financial security. Millennials said they'd need $199,000, and for Gen Xers and baby boomers, their financial security targets were at $183,000 and $171,000, respectively. To be sure, it's not all bad for Gen Z. TransUnion's latest Consumer Pulse Study found that Gen Z is "the most stable of any generation" in this year's second quarter, with 45% of them reporting wage increases over the past three months.
Persons: Gen, Millennials, Gen Xers, Gen Zers, Sarah Foster, Z, Zers, Michele Raneri, it's, They're, Charlie Wise, that's, Zer Organizations: Service, Business, Survey, Consumer Finances, Washington Post, Bureau of Labor Statistics, BI, Millennials, TransUnion Locations: Bankrate
Millennials are poised to be the wealthiest generation in history, but are they ready to handle the large inflow of money? A vast $90 trillion wealth transfer over the next 20 years will likely make millennials "the richest generation in history," according to estimates from global real estate consultancy Knight Frank. "The millennials are very ill prepared … they're not as well prepared as the wealth creating generation," Salvatore Buscemi, co-founder and managing partner of multi-family office Brahmin Partners told CNBC. "They don't have the skill sets earlier on to be able to do that because they never had to - they were never pushed," he said. "And the problem is - are they going to be motivated later in life to push themselves to acquire these skill sets?"
Persons: Knight Frank, , Salvatore Buscemi, Buscemi Organizations: Partners, CNBC
Work is getting really weird
  + stars: | 2024-07-01 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
The big storyBizarro workplaceLorenzo Matteucci for BILet's be honest: Work has gotten really weird. Workers hiring shadow stand-ins can be unqualified for their jobs, overwhelmed, greedy, or just lazy. Shadow stand-ins are typically paid a fraction of the salary earned by the actual employee. One employee also described to Rob struggling to deal with a shadow stand-in's sub-par work and eventually "firing" them. Getty Images; Alyssa Powell/BIMeanwhile, the people who are doing all the work themselves are having a tough time getting any recognition.
Persons: , Lorenzo Matteucci, Rob Price, Rob, Alyssa Powell, BI's Aki Ito, Roaring Kitty, Bain, Chris Miller, Greg Peters, Ted Sarandos, Peters, Chelsea Jia Feng, Coach's, David Rosenberg, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Super, Facebook, Workers, Corporations, Getty, GameStop, McKinsey, Taiwan Semiconductor Manufacturing Company, Netflix, Walgreens, CVS, Rite, Wimbledon Locations: Chicago, India, Pakistan, China, Taiwan, New York, London
In 2023, according to data compiled by Workday, companies across every industry promoted fewer employees than they did the previous year. The cutbacks were especially stark in tech, where promotion rates plunged by 25%. Yes, high interest rates and slower economic growth means that companies are being forced to tighten their belts. Related storiesEven when the job market begins to heat up again, we may not see promotion rates recover to 2022 levels for some time — or ever. Companies need to remember that even though employees can't afford to quit their jobs in the current hiring slump, they can still quiet quit.
Persons: Jessica, She'd, Mercer, Kelli Dragovich, , everyone's, Gen Zers, Xers, We'll, they'll, Michael Citron, they're, She's, I've, Aki Ito Organizations: Tech, Mercer, Business Locations: America
AdvertisementAs the way we save for retirement has evolved, some people are now cashing in on the golden age for retirement savings — when benefits were more generous and investments in real estate and stocks boomed. While it's still possible to achieve, a fat retirement account has become rarer. AdvertisementBack in 2007, per GAO's calculations of the Survey of Consumer Finances, around 21% of low-income households had a retirement account balance. While losses weren't as profound for those in the middle-income quintile, their retirement account balances did fall slightly from 2007 to 2019. All of that comes as retirement savings become more of an individual onus.
Persons: , Michael, Connie, didn't, frugality, it's, would've, David John, that's, John, Valerie, who's, Valerie —, hinging, she's Organizations: Service, Navy, Business, Social Security, Survey, Consumer Finances, GAO, AARP, Security, BI Locations: Florida, Denver, Oregon, Seattle
The S & P 500 and Nasdaq Composite are hovering around all-time highs, having rallied roughly 15% and 18%, respectively. The 30-stock Dow and S & P 500 each posted losses, down by 0.1%, each. In recent days, a number of Wall Street firms have hiked their year-end S & P 500 targets to catch up with this year's surprisingly strong rally. On a median basis, strategists expect the S & P 500 will end the year at 5,500, a CNBC Pro survey shows . June jobs report Markets will be closed Thursday for the Fourth of July holiday.
Persons: chipmaker, Craig Johnson, Piper Sandler, Goldman Sachs, Scott Chronert, CNBC's, Chronert, Piper Sandler's Johnson, Bill Merz, Merz, He's, Jamie Meyers, Laffer Tengler, he's, Meyers, Bank's Merz Organizations: Nasdaq, Dow Jones, Nvidia, Microsoft, Deutsche Bank Research, Equity, Dow, Wall Street, Citi, ISI, CNBC, U.S, Bank Wealth Management, PMI, Manufacturing, ADP, PMI Services, Services PMI, Constellation Locations: U.S
Forty-seven percent of millennials were willing to take on debt to fund summer travel. Gen Z trailed close behind, with 42%, while Gen X and boomers were 31% and 22%, respectively. AdvertisementMeanwhile, Credit Karma's survey found that nearly 40% of Gen Z and millennials said they'll prioritize summer travel over their finances. Funding a summer of funNearly a quarter of Gen Z and millennials anticipate going into almost $2,000 in debt across the summer, according to Credit Karma's survey. For 11% of Gen Z and 8% of millennials, that summer debt forecast surpasses $4,000.
Persons: , Taylor Swift, Credit Karma, Zers, Gen Z, Gen X, millennials, Gen, they're, X Organizations: Service, Credit, Bank of America, Business Locations: Europe, Southeast Asia, Florida, California
Read previewA US Navy nuclear-powered ballistic submarine popped up in the Norwegian Sea this week in a rare show of force. As suspected, deployment of E-6B TACAMO nuclear command, control and communication aircraft to Norway indicated forward operations with nuclear missile submarines. AdvertisementThe Russian nuclear-powered submarine Kazan, part of the Russian naval detachment visiting Cuba, arrives at Havana's harbour, June 12, 2024. ADALBERTO ROQUE/AFP via Getty ImagesAs the "boomers," or ballistic missile subs, are an element of the US nuclear triad, the US Navy doesn't regularly reveal where they are. The US has also made similar revelations in other parts of the world with its Ohio-class cruise missile submarines, which carry 154 land-attack Tomahawks.
Persons: , ste, Russ, ove Out" (TA, ulf, Hans Kris, zan, ott, d in Cu Organizations: Service, US Navy, US Naval Forces, 6th Fleet, USS, Business, ucl, ust, NATO, rit Locations: Norwegian, US Naval Forces Europe, Africa, USS Tennessee, Normandy, pec, ADAL, dvinsk, surf
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