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☆ When I was 30, my mom gave me $15,000 to spend on a gap year in Italy instead of a house or wedding. I have no regrets.
▼ + stars: | 2024-11-26 | by ( Tricia Patras | ) www.businessinsider.com time to read: +4 min

AdvertisementI used my savings and a $15,000 gift from my mom to travel and temporarily move to Italy in my 30s. So when I turned 30 that year, I used my savings and $15,000 from my mom to travel, take a gap year, and find "La Dolce Vita" in Italy. I loved the life I'd had in Italy, and I knew I had to finish what I'd started. Living in Italy was a once-in-a-lifetime experience — and I'm thankful my mom helped me do itI'm grateful I got to experience Italy, and I don't regret asking my mom for help. Finding self-confidence in Italy was a priceless experience, and I'll always cherish the memories from my gap year.

Persons: I'd, Tricia Patras, She'd, — Organizations: US Locations: Italy, San Francisco, Egypt, Greece, Florence, Japan, Munich, Europe

☆ Macy's $132 million mystery has auditing experts scratching their heads
▼ + stars: | 2024-11-26 | by ( Dominick Reuter | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

Auditing experts told BI the available evidence suggests a failure of internal accounting controls. Following the news that Macy's discovered a sizable error in its financial records, auditing experts told Business Insider that the company must now explain how its controls broke down. Without more details, the accounting experts who spoke to BI said it is hard to understand exactly what happened. AdvertisementThe pressure will now be on Macy's auditor, KPMG, to show that it is appropriately scrutinizing Macy's accounting practices and controls, McKenna said. "I wouldn't be surprised if you'll see a material weakness in internal controls because something is not working here," McKenna said.

Persons: Macy's, Jerry Maginnis, Maginnis, Michelle Leder, Francine McKenna, McKenna Organizations: Rowan University, KPMG, BI, Sarbanes, Oxley

☆ Stock futures are little changed as Wall Street awaits Fed's preferred inflation reading: Live updates
▼ + stars: | 2024-11-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell on November 26, 2024, in New York City. U.S. stock futures opened little changed on Tuesday night as traders await the release of the Federal Reserve's favorite inflation gauge. Futures tied to the Dow Jones Industrial Average added 20 points, or 0.04%. Economists polled by Dow Jones expect a year-over-year increase of 2.8% for the core reading, which excludes food and energy. Both the S&P 500 and the Dow Jones Industrial Average reached fresh intraday and closing highs.

Persons: Dow Jones, Stephen Stanley, CNBC's, That's, It's Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dell Technologies, Fed, Santander U.S, Capital Markets Locations: New York City . U.S, U.S

☆ Treasury yields rise as investors await Fed meeting minutes, key data
▼ + stars: | 2024-11-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.278% after rising by more than two basis points. U.S. Treasury yields were higher on Tuesday as investors looked ahead to the latest Federal Reserve meeting minutes and key economic data due this week. Investors considered the state of the economy as they looked to upcoming data and weighed the outlook for monetary policy as the Federal Reserve's latest meeting minutes are set to be released. Key inflation data is set to be published as the week continues, with the personal consumption expenditure price index for October due Wednesday. The PCE is the Fed's favored inflation gauge and could therefore inform its monetary policy decisions.

Persons: Donald Trump's, Scott Bessent Organizations: Treasury, U.S, Reserve, Investors, Federal, PCE Locations: U.S

☆ Breyten Breytenbach, Dissident South African-Born Writer, Dies at 85
▼ + stars: | 2024-11-26 | by ( Trip Gabriel | ) www.nytimes.com time to read: +1 min

Breyten Breytenbach, a dissident South African-born poet, memoirist and former political prisoner who was jailed on trumped-up charges for anti-apartheid actions in the 1970s, died on Sunday in Paris, his longtime place of residence as an expatriate critic of his homeland. His death was announced by his family, who did not state a cause. “To be an Afrikaner is a political definition,” he wrote in 1985. “It is a blight and a provocation to humanity.”His loathing of apartheid’s institutionalization of white supremacy began in personal experience. In 1962, Mr. Breytenbach married a Vietnamese-born woman, Hoang Lien Ngo, but because of South Africa’s laws forbidding mixed-race marriages, she was refused entry to the country.

Persons: Breyten, memoirist, Breytenbach, Hoang Lien Ngo Locations: Paris, South Africa, Vietnamese

☆ How an AI granny is combating phone scams
▼ + stars: | 2024-11-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That’s because Daisy is a conversational artificial intelligence chatbot created by British mobile phone company O2 to help combat fraud by tricking phone scammers into thinking they are speaking to a real person. Her debut earlier this month highlights how AI is being used both positively and negatively when it comes to online scams. According to the Global Anti-Scam Alliance, a lobby group, consumers worldwide lost more than $1 trillion to online scams last year. Last year, Virgin Media O2, the wider telecommunications group, blocked more than £250 million ($315 million) in suspected fraudulent transactions, which they say is equivalent to stopping one every two minutes. Video Ad Feedback Click to watch Daisy, an "AI granny," in action against scammers.

Persons: you’ll, Daisy, Daisy’s, ”, Murray Mackenzie, “, granny, scammer, “ It’s, I’m Organizations: London CNN —, O2, Global, FBI, Virgin Media O2, scammers, CNN Locations: British, London

☆ I bought a vintage Chanel handbag for $2050 in 2015 and sold it for $2000 in 2024. The girl math speaks for itself.
▼ + stars: | 2024-11-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

AdvertisementKoyaana Redstar, a vintage luxury handbag expert, swears by resale handbags. She said she bought a Chanel Boy bag for $2050 in 2015 and sold it for $2000 in 2024. I paid $2,050 for it in 2015 at Rebag, a luxury resale company. A black leather Chanel Boy handbag. But don't buy designer handbags just to resell themLuxury handbags from Bottega Veneta and Hermes.

Persons: Koyaana Redstar, I've, Edward Berthelot, Louis Vuitton, MIGUEL MEDINA, Hermes, Jeremy Moeller, consigners Organizations: Luxe, Rebag, Getty, Bottega Locations: Rebag, Paris, France, AFP, Bottega Veneta

☆ The Fed might not cut interest rates at all in 2025, Deutsche Bank economist says
▼ + stars: | 2024-11-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe Fed will pause interest rate cuts through all of 2025, Deutsche Bank's chief US economist says. A strong economy and the inflationary impact of Trump's policies will offset the need for rate cuts, Matthew Luzzetti said. The Federal Reserve's easing cycle is closer to stalling than starting, at least according to Deutsche Bank. Chief US economist Matthew Luzzetti expects the central bank to pause interest rate cuts after a final quarter-point reduction in December. First, the US economy doesn't appear headed for an imminent slowdown, which dials back pressure on the Fed to prop up growth by lowering interest rates.

Persons: Matthew Luzzetti, Goldman, Luzzetti, Donald Trump, Goldman Sachs Organizations: Deutsche, Deutsche Bank . Chief, Bloomberg, Fed, Luzzetti, Citi Locations: China, Mexico, Canada

☆ Charles and Catherine Romer: 1980 cold case may get answers after car is found submerged in Georgia pond
▼ + stars: | 2024-11-26 | by ( Hanna Park | ) edition.cnn.com time to read: +2 min

“The vehicle is similar to the description of a vehicle that Charles and Catherine Romer were believed to be driving when reported missing in April 1980,” the Glynn County Police Department announced on social media Saturday. No official determination has been made about the identity of the remains found, Glynn County police said. CNN has reached out to the Glynn County Police Department for further information. “A rear end of a car, the car was tearing apart. The police officer said there were two deceased bodies in the car,” Fahs told CNN affiliate WFOX/WJAX.

Persons: Charles, Catherine Romer, Housekeepers, Barry Fahs, ” Fahs, ” Christine Seaman Heller, Catherine Romer’s, ” Seaman Heller, “ It’s Organizations: CNN, Lincoln Continental, Police Department, Inn, WABC, New, Authorities, Team, Sunshine, Sonar, Ford, Continental Locations: Georgia, New York, Glynn, Miami, Brunswick, New Jesup, Camden, Scarsdale , New York

☆ Is it OK to pee in the shower? Urologists explain
▼ + stars: | 2024-11-26 | by ( Jocelyn Solis-Moreira | ) edition.cnn.com time to read: +6 min

CNN —Here’s a secret that’s not really a secret — many people pee in the shower. When it comes to going number one in the shower, urologists find it generally safe for both men and women. Still, there are certain scenarios in which using the shower as a makeshift toilet might not be a good idea. Still, she said people should not worry about catching an infection if someone with a UTI peed in a public shower since the shower water would wash the urine away. For people who get the urge to pee when hearing water but have trouble urinating, Shusterman advised seeing a doctor to get evaluated for urinary incontinence.

Persons: CNN —, “, ”, Karyn Eilber, “ It’s, it’s, David Shusterman, Shusterman, ” Eilber, Eilber, that’s, Jocelyn Solis, Moreira Organizations: CNN Locations: Cedars, Sinai, Los Angeles, New York City, New York

Some parents fear their kids will waste money, sink into debt, and never move out. The financial planner tells parents to foster independence in their kids even if it's uncomfortable. AdvertisementMark Berg, who founded Timothy Financial Counsel in 2000, says there are steps parents can take to avoid that fate. AdvertisementLimiting spending money also teaches kids about opportunity cost, reinforcing the idea that money is scarce and there are constraints on what they can afford. The veteran financial planner suggested parents be up front with their kids about how much they can contribute to their college funds.

Persons: Mark Berg, —, Berg, they're, " Berg Organizations: Service

☆ Lionel Messi’s former teammate Javier Mascherano announced as new Inter Miami head coach
▼ + stars: | 2024-11-26 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —Former Argentina captain Javier Mascherano will be Inter Miami’s new head coach, the club announced on Tuesday. Mascherano will reunite with legendary forward Lionel Messi, who he played alongside for the national team and spent almost eight years with at Barcelona. This will be Mascherano’s first senior managerial position, having previously coached the Argentina Under-20 national team. “To be able to lead a Club like Inter Miami is an honor for me, and a privilege I will strive to make the most of. I was drawn to the organization’s undeniable ambition, and the infrastructure it has to support it,” Inter Miami’s new head coach said in Tuesday’s statement.

Persons: Javier Mascherano, Mascherano, Lionel Messi, Gerardo Martino, “, David Beckham, Javier, ” Beckham, Messi, Jordi Alba, Luis Suárez, Sergio Busquets, Grigory Dukor, Reuters Mascherano Organizations: CNN, Argentina, Inter, Inter Miami, ” Inter, ” Inter Miami, “, Miami, Buenos, Brazilian, Corinthians, English, Liverpool, Catalan, Spanish La Liga, Copa del Rey, Champions League, Reuters, Chinese Super League, Hebei, Hebei China Fortune, Estudiantes, Messi, Major League Soccer, FIFA Club, MLS, Atlanta United Locations: Barcelona, Argentina, France, Buenos Aires, West Ham, Hebei China

☆ Trump's proposed tariff increases would boost inflation by nearly 1%, Goldman Sachs estimates
▼ + stars: | 2024-11-26 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The latest tariff proposal from President-elect Donald Trump would likely put upward pressure on inflation in the United States, according to Goldman Sachs. The core PCE, which strips out food and energy prices, is the preferred inflation reading of the Federal Reserve. A tariff-linked increase in core PCE could scramble the calculations around Fed rate cuts. To be sure, it remains to be seen whether the tariffs will actually be implemented at the levels Trump proposed — or what exceptions might be made. Some of Trump's advisors and supporters have characterized the tariffs he proposed during the campaign as a bargaining position rather than a set policy.

Persons: Donald Trump, Goldman Sachs, Trump, Jan Hatzius, Hatzius, Dow Jones, Jerome Powell Organizations: PCE, Federal Reserve, Trump Locations: United States, China, Canada, Mexico, U.S, PCE

The developers would only need to reveal the training material that is “sufficient to identify with certainty” whether the copyright holder’s works were used. Failing to comply would create a legal assumption — until proven otherwise — that the AI developer did indeed use the copyrighted work. Sen. Peter Welch, D-Vt., who introduced the bill Thursday, said the country must “set a higher standard for transparency” as AI continues to integrate itself into Americans’ lives. “We need to give America’s musicians, artists, and creators a tool to find out when A.I. Companies that rely on human creative labor have tried to take on AI developers as well.

Persons: Sen, Peter Welch, ’, ” Welch, don’t, Oscar, Julianne Moore, James Patterson, Radiohead’s Thom Yorke —, Welch, Recording Academy — Organizations: Artificial Intelligence Networks, New York Times, Street Journal, Screen, American Federation of Television, Radio Artists, American Federation of Musicians, Recording Academy, Universal Music Group, Warner Music Group, Sony Music Locations: deepfakes, California

☆ Dow jumps 400 points to new record close, Russell 2000 hits all-time high as investors cheer Trump's Treasury pick
▼ + stars: | 2024-11-25 | by ( Alex Harring | Hakyung Kim | ) www.nbcnews.com time to read: +3 min

A broad stock rally pushed the Dow Jones Industrial Average, S&P 500 and small-cap focused Russell 2000 index to new records on Monday. Investors bet President-elect Donald Trump’s choice for Treasury secretary, Scott Bessent, would help guide the economy without sparking inflation. The broad S&P 500 gained 0.3% to end at 5,987.37. Both hit new all-time highs in the session, while the Dow also notched a fresh record close. More than 3 out of every 4 S&P 500 stocks traded higher in the session.

Persons: Russell, Donald Trump’s, Scott Bessent, Trump’s, ” Bessent, Trump, Quincy Krosby, ” Krosby Organizations: Dow Jones, Dow, Nasdaq, Key Square Group, CNBC, Treasury, U.S, LPL, Nvidia, Netflix, Federal Locations: Quincy, U.S

Some of the best early Black Friday deals are already live, even though the sale doesn't officially start until later this week on Nov. 29. Below, I rounded up the best early Black Friday deals so far, each of which is highly rated and at least 20% off. SKIP AHEAD Best early Black Friday deals | More early Black Friday sales | How I picked the best early Black Friday deals | Why trust NBC Select? The best early Black Friday deals of 2024I found, vetted and wrote about every deal I recommend below. The best early Black Friday salesHere are the best early Black Friday sales to know about.

Persons: I’ve, “, ”, Rebecca Rodriguez, It’s, Harry Rabinowitz, Billie, Olive, Jones, Jenni Kayne, TikTok Organizations: NBC, Alexa, Amazon, beechwood, Garmin, Walmart, JCPenney, Casper, Google, Samsung, Navy, Adidas, Wellness, Facebook, Twitter Locations: carabiner, grippy

☆ An options trade on two retailers reporting earnings this Thanksgiving week
▼ + stars: | 2024-11-25 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Whereas Burlington Stores, which appeals to a more brand-conscious and slightly more affluent demographic, sports a price-to-sales of 1.8 and is trading at 36 times forward earnings estimates. According to Placer.ai data, observed customers rose 5% YoY on a 91 trailing-day basis at Burlington and fell 3.2% at Kohl's stores. Kohl's stores implies an eye-watering 11.6% move versus a 10-year average of about 7%. Nevertheless, using "diagonals" as follows has payoff characteristics that are generally similar: Buy KSS Apr. 17 $15 put Sell KSS Nov. 29 $15.50 put Sell KSS Nov. 29 $18.50 call Buy KSS Apr.

Persons: Nordstrom, Kohl's, BURL Organizations: Burlington Stores, New York Fed, Traders, CNBC, NBC UNIVERSAL Locations: Burlington

☆ This is one thing Marc Andreessen says you shouldn't do at work
▼ + stars: | 2024-11-25 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

AdvertisementMarc Andreessen argues against sharing too many personal details at work, urging professionalism. Advertisement"When managers and leaders say, 'Bring your whole self to work,' they're leaving out the terms and conditions," Reitz said. On an episode of their podcast, "The Ben and Marc Show," Andreessen and A16z cofounder Ben Horowitz celebrated Donald Trump's reelection. "When it comes to business, it shouldn't be just based on our personal politics. I can bring my whole self to work, but I can't talk about politics,'" she said.

Persons: Marc Andreessen, Marc Andreessen doesn't, Andreessen Horowitz, Andreessen, Megan Reitz, Reitz, Sundar Pichai, Ben, Marc Show, Ben Horowitz, Donald Trump's, Trump's, Joe Biden's, Ella Washington, Washington, Jake Telkamp, Telkamp Organizations: Google, Georgetown University, Hull College of Business, Augusta University Locations: California, New York, Georgia

☆ Keira Knightley says choosing to have children meant she had to take a 'major step back' in her career
▼ + stars: | 2024-11-25 | by ( Amanda Goh | ) www.businessinsider.com time to read: +4 min

AdvertisementKeira Knightley says she had to step back from her career because she chose to have kids. Keira Knightley, 39, chose to prioritize motherhood over her career. In an interview with The Times published on Saturday, Knightley spoke about her decision to have children and the impact it had on her career decisions. "I've chosen to have children, I want to bring them up, so I've had to take a major step back." "My kid came before my career, and I chose my career because I knew this would never happen again," Goldberg said.

Persons: Keira Knightley, I've, Knightley, — Edie, Delilah, James Righton, she's, Beckham, Blake Lively, Lively, Whoopi Goldberg, Goldberg, They're, Claudia Goldin Organizations: Times, Pirates, Harvard Locations: Caribbean

☆ Dating App Fatigue? In Vermont, Personal Ads Still Thrive.
▼ + stars: | 2024-11-25 | by ( Adrienne Raphel | ) www.nytimes.com time to read: +1 min

Katie Flagg moved to Vermont when she was 18 to attend Middlebury College and fell in love at first sight — with the state. Dating sites were still a bit taboo, and she wasn’t sure how else to meet people in a place where they were not many people around. So she turned to a publication that many Vermonters have long turned to when they were looking for love: Seven Days, an alternative weekly that is one of the last bastions of newspaper personal ads. For decades, the ads have been reliably quirky, surprisingly effective and, well, very Vermont. Nowadays, Seven Days has a thriving online personals section to go with the print version.

Persons: Katie Flagg, pang Organizations: Middlebury College Locations: Vermont, Addison County

☆ CNBC Daily Open: Small- and mid-caps outperformed last week
▼ + stars: | 2024-11-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Brendan McDermid | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayWinning week for marketsMajor U.S. indexes rose on Friday to end the week in the green, despite mega-cap stocks Nvidia and Alphabet dropping. The rate affects around 900 billion yuan ($124.26 billion) worth of one-year loans to some financial institutions. [PRO] Interest rates back in focusThis week, the October personal consumption expenditures price index, out Wednesday, will dominate attention.

Persons: HSI AMZN, Brendan McDermid, Donald Trump, Scott Bessent, Bessent, Kevin Warsh, Marc Rowan, Sir Richard Branson, Russell, Sam Stovall, Sundeep Gantori, — CNBC's Pia Singh, Alex Harring, Jesse Pound Organizations: New York Stock Exchange, Reuters, CNBC, U.S, China's CSI, Trump, Treasury, Fed, Bank of China, COP29, Virgin, U.S . Federal Reserve, Federal, Market, Nvidia, U.S . Department of Justice, Big Tech, Dow Jones, Nasdaq, Super Micro Company, CFRA Research, NVIDIA, UBS Locations: Asia, Pacific, China's, Azerbaijan

Learn moreIf you're on the hunt for the best jewelry deals this gift-giving season, you should know that Mejuri is having its biggest sale to date. View at MejuriMejuri Curb Chain Bracelet $168.75 $225.00 Save 25% Our 14k solid gold pieces are made to last forever. M+ Members also earn early access to Mejuri sale events. When does the Mejuri Black Friday sale start and end? Is Black Friday a good time to shop Mejuri jewelry?

Persons: Selena Gomez, Pick Mejuri Puffy Charlotte Huggies, Gabrielle Chase Organizations: Business, Mejuri Locations: Canadian

☆ Treasury yields fall as investors endorse Trump's Treasury secretary pick, await inflation data
▼ + stars: | 2024-11-25 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

U.S. Treasury yields were lower on Monday as investors weighed President-elect Donald Trump's Treasury secretary pick and eyed a key inflation reading due later in the week. Trump's choice of hedge fund executive Scott Bessent as Treasury secretary has calmed investors' nerves about the future of the U.S. economy. Bessent, the founder of Key Square Group, is expected to back the incoming president's economic goals including gradual tariffs and pro-business policies. However, as an old Wall Street hand and a fiscal conservative, investors believe Bessent will prioritize stability in the U.S. economy and markets. Also in focus this week are some key data points due ahead of a shortened trading week.

Persons: Donald Trump's, Scott Bessent, Kit Juckes, Trump, Bessent, Dow Jones Organizations: Treasury, U.S, Key Square, Societe Generale, CNBC, Federal, U.S . Federal Locations: U.S, U.S .

☆ Oil prices ease but remain near 2-week highs on Russia, Iran tensions
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +3 min

Oil prices retreated on Monday following 6% gains last week, but remained near two-week highs as geopolitical tensions grew between Western powers and major oil producers Russia and Iran, raising risks of supply disruption. "Oil prices are starting the new week with some slight cool-off as market participants await more cues from geopolitical developments and the Fed's policy outlook to set the tone," said Yeap Jun Rong, market strategist at IG. "Tensions between Ukraine and Russia have edged up a notch lately, leading to some pricing for the risks of a wider escalation potentially impacting oil supplies." Enforced sanctions could sideline about 1 million barrels per day of Iran's oil exports, about 1% of global oil supply, he said. Investors were also focused on rising crude oil demand at China and India, the world's top and third-largest importers, respectively.

Persons: Jun Rong, Trump, Brent, Yeap, centrifuges, Vivek Dhar, Priyanka Sachdeva, Phillip Nova, Sachdeva Organizations: Brent, U.S, West Texas, Russia, IG, IAEA, Commonwealth Bank of Australia Locations: Russia, Iran, Ukraine, United States, Kyiv, Iranian, China, India, U.S

☆ Chess World Championship: Inside the grueling world of the tournament
▼ + stars: | 2024-11-25 | by ( Issy Ronald | ) edition.cnn.com time to read: +8 min

CNN —Ding Liren slumped over the board with fallen chess pieces scattered in front of him in the moments after he won the Chess World Championship last year. The Chess World Championship is an extraordinary, singular event. Zhang Shuo/China News Service/VCG/Getty Images“You lose weight during a chess tournament of this intensity. Several questions are running through a chess player’s head when an opponent makes a move, says Pein, rattling them off. Qualifying is so difficult that one appearance at a world championship might be all that a chess player can hope for.

Persons: CNN — Ding Liren, Ian Nepomniachtchi, “, Bobby Fischer, ” Viswanathan “ Vishy ” Anand, China’s Ding, India’s Gukesh, Ding Liren, Russia's Ian Nepomniachtchi, Zhang Shuo, ” Malcolm Pein, Magnus Carlsen –, Ding, ”, Gukesh, Garry Kasparov, Anatoly Karpov, Karpov, Kasparov, Danny Rensch, it’s, Rensch, Vishy, Dipayan Bose, What’s, Carlsen, Nepomniachtchi, They’re, ” Rensch, ” Pein Organizations: CNN, Olympus, CNN Sport, China News Service, English, Daily Telegraph, YouTube Locations: Singapore

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