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Critics of the proposed tariffs say the policy could lead to higher prices for U.S. consumers. That leaves Asia and Europe having to quickly consider ways to mitigate the future impact of export tariffs, and whether to retaliate or to try to negotiate a get-out deal. But economists also say that the EU could try to use the carrot instead of the stick with the U.S., suggesting there are three other ways Europe might try to stop, limit or avoid Trump's likely tariff policy altogether. German Chancellor Angela Merkel deliberates with U.S. President Donald Trump during the G-7 summit in Canada on June 9, 2018. Jesco Denzel | Bundesregierung | Getty ImagesWhether there Europe can reach consensus on how or whether to do a deal with Trump is debateable, however.
Persons: Caitlin Ochs, Reuters Donald Trump's, Europe scrabbling, Trump, Flach, Donald Trump, Jean, Claude Juncker, Andrew Kenningham, Didier Lebrun, Photonews, Mujtaba Rahman, Ursula von der, Von der, Joe Biden, Kenningham, Angela Merkel deliberates, Denzel, Carsten Brzeski, Emmanuel Macron, Angela Merkel, There's Organizations: Reuters, Trump, ING, Germany's, International Economics, Germany, U.S, EU, Capital Economics, European Union, Getty, Eurasia Group, Sustainable Steel, US Trade, Technology Council, Bundesregierung Locations: Upper Bay, New York, U.S, Europe, EU, China, Asia, Germany, Ukraine, Canada, France
Private jet usage is way up for 2 reasons
  + stars: | 2024-11-10 | by ( Eliza Relman | ) www.businessinsider.com   time to read: +3 min
Private jet travel has surged in recent years, and two big changes explain why. Meanwhile, more affordable options for on-demand private jets multiplied. Two big factors led to that spike in private flights: The pandemic and a spate of more affordable options for flying private. But soon, private jet travel surged even as commercial flying remained depressed. Meanwhile, fractional ownership of private planes, fly-share services, subscriptions to private jet companies, and other on-demand private flying options have also grown much more popular and made private flying more accessible and affordable.
Persons: , That's Organizations: Service, NGO Transport, Environment Locations: Nature, New York City, Miami
CNN —An Illinois woman is $1 million richer after winning on a lottery ticket she forgot about. During a grocery trip to the Jewel-Osco supermarket in Elmhurst in October, she made the last-minute decision to pick up a lottery ticket for the Lucky Day Lotto, a daily draw game in Illinois. Her ticketing purchase was not only unplanned, but also eventually forgotten about, she said in an Illinois Lottery press release, requesting to remain anonymous. “I actually put the ticket in my purse and forgot all about it.”On October 20, the game announcers revealed the five winning numbers: 2-3-24-25-28. The lucky winner is the ninth Illinois Lottery player this year to win $1 million or more with Lucky Day Lotto.
Persons: , Organizations: CNN, Lucky, Illinois Lottery, Lotto, Lottery USA Locations: An Illinois, Elmhurst, Illinois, Ireland
Americans are doom spending
  + stars: | 2024-11-10 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +7 min
While this kind of catharsis might work to temporarily allay worries, experts say doom spending poses a danger to consumers’ long-term financial health. Joe Raedle/Getty ImagesThat financial gloom is powering doom spending and, in turn, driving up credit card debt. Beyond the economy, experts say that internet habits play a significant role in driving doom spending, especially for younger consumers. But Alev says that she anticipates a pop in spending whether Americans feel positively or negatively about the outcome of the election. How do you curb doom spending?
Persons: , Gen, “ We’re, Courtney Alev, , Alev, Donald Trump, Trump, Kamala Harris, , Sertan Kabadayi, Joe Raedle, Bankrate, Aja Evans, ’ ” Evans, hasn’t, ” Alev, Jeff Roberson, Biden, Evans Organizations: CNN, Wheaton College senior, YouTube, Credit, Gallup, Fordham University’s Gabelli School of Business, Federal, Federal Reserve Bank of Philadelphia, Finance, Brookings Institution Locations: Massachusetts, Miami , Florida, West Palm Beach , Florida
Many Americans have been holding back from jumping into the housing market in the hopes that mortgage rates will decline. The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. “Sixes are the new normal,” said Lisa Sturtevant, chief economist at Bright MLS, a mortgage listing services group, referring to 6% mortgage rates. It’s really not going to be impacting mortgage rates at all.”Mortgage rates work differently. When demand for those increases, mortgage rates tend to fall.
Persons: Donald Trump’s, , Lisa Sturtevant, Brian Rehling, Trump, Mike Fratantoni, ” Fratantoni, Helene, ” Samuel Tombs, Tombs, Sturtevant, “ It’s Organizations: Federal, Bright MLS, Federal Reserve, Wells, Investment Institute, , U.S, Mortgage, Association, , National Association of Realtors, Pantheon, NBC
It was a reminder for an Usher concert in Dallas on October 5, synced with her Ticketmaster account. Live Nation, worth about $28 billion as of November 8, has a tight grip on the live-entertainment industry. The Live Nation executive recommended Ticketmaster account holders have a unique password not used for any other platforms. AdvertisementShe figured she would have to rebuy tickets, she added, so was surprised and pleased when Ticketmaster reinstated the tickets. People protesting outside the US Capitol the morning of a Senate Judiciary Committee hearing about the merger of Ticketmaster and Live Nation in 2023.
Persons: concertgoers, , Jasmine McKenzie, McKenzie, who's, Taylor Swift, Mika City, Don Toliver's, Floyd George, Floyd George ", City, Usher, didn't, hadn't, it's, Swift, Drew Angerer Organizations: Ticketmaster, BI, Service, Justice Department, DOJ, Live, Business, CBS News, Better Business Bureau, BBB, Capitol, Oasis, City Locations: Vashti, Dallas, Los Angeles, Nashville, Charlotte, North Carolina, Grand Prairie , Texas, Houston, North America, United Kingdom
Grace saw an article about old cabins from Disney's Fort Wilderness up for sale on Facebook Marketplace. Grace and Jacob KocherWhen Grace saw the listing for a one-bedroom, one-bathroom, 500-square-feet cabin selling for $49,900, she immediately sent it to her dad. Like Grace, Jacob had also stayed in cabins throughout his childhood. Grace and Jacob saw tiny homes selling for over $100,000 and were determined to keep the cost under $125,000 with financing options. Grace and Jacob KocherGrace and Jacob signed the bill of sale in April and paid $53,375, including tax, for the cabin.
Persons: Grace, Jacob Kocher, Jacob, Jacobs, Jacob Kocher Grace, We've, Disney Organizations: CNBC, Facebook, Walt Disney World, Disney Locations: Florida, Disney's Fort, Magic, Fort
Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. The domain was previously owned by HubSpot founder and CTO Dharmesh Shah, who confirmed that he sold the domain to OpenAI after buying it in 2023. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
Rivian CEO RJ Scaringe said during an earnings call the company has been bracing for tariffs. The fate of the $7,500 EV tax credit issued under the Biden Administration remains unclear. AdvertisementEV company Rivian says it's already bracing for the impact that the increased tariffs proposed by President-elect Donald Trump would have on its supply chain. Rivian CEO RJ Scaringe said that to prepare for potential tariffs Trump has proposed on foreign goods, the company has been deliberate about materials sourcing for its upcoming lower-cost SUV, the R2. On top of the uncertainty that comes with the second Trump administration, Rivian continues to face hurdles toward profitability — a challenge many new automakers face, with the exception of Tesla.
Persons: Donald Trump's, RJ Scaringe, Biden, , Rivian, Donald Trump, we've, EVs —, Claire McDonough, Rivian's, Tom Narayan, Scaringe, Trump, Tesla Organizations: Service, President, Trump, Biden, RBC Capital Markets, CNBC
I worked as a VIP tour guide at Disneyland, so I know which offerings aren't worth visitors' time. AdvertisementIn the five years I worked as a VIP tour guide at Disneyland, I got to know the park very well. Amber WainwrightNothing beats a sky-high view of the park, but the Pixar Pal-A-Round isn't as relaxing as it looks. Don't shop for merch until you're on your way out of the parkDon't buy your merch until you're about to leave the park. AdvertisementAvoid the Mickey & Friends parking structureNo matter where you park at Disneyland, there will likely be many cars already there.
Persons: , Amber Wainwright, Steer, I've Organizations: Pixar, Mickey, Service, Friends, City Hall Locations: Fantasyland
OpenAI acquired the URL "chat.com," which now redirects to ChatGPT. Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
Trade Tracker: Bryn Talkington buys Dell
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Bryn Talkington buys DellBryn Talkington, managing partner at Requisite Capital Management, joins CNBC's 'Halftime Report' to discuss her latest Dell purchase.
Persons: Bryn Talkington, Dell Bryn Organizations: Dell, Capital Management
New York CNN —Donald Trump rode a powerful wave of discontent over the cost of living back to the White House. Trump reminded voters often that inflation wasn’t a problem when he was calling the shots. But if he’s not careful, Trump could have an inflation problem of his own. They point to study after study that shows Americans bore almost the entire cost of Trump’s tariffs on China. “When Trump uses tariffs as a negotiating tool, I’m fine with that,” Moore said during a phone interview in late October.
Persons: Donald Trump, Trump, he’s, ” Ryan Sweet, won’t, ” Sweet, , Joe Biden, CNN’s Phil Mattingly, ” He’s, Trump’s, “ We’re, ” Daniel Alpert, CNN’s Allison Morrow, Stephen Moore, CNN he’s “, ” Moore Organizations: New, New York CNN, Voters, Oxford Economics, CNN, Trump, Federal, Peterson Institute for International Economics, Peterson Institute, National Retail Federation, Westwood Capital Locations: New York, Washington, Pennsylvania, China
China's exports in October rose at their fastest pace in 19 months, sharply beating analysts' estimates, according to data from the country's customs agency on Thursday. Exports rose by 12.7% in October from a year ago in U.S. dollar terms, their highest jump since March 2023, according to LSEG data. Analysts had pegged exports growth at 5.2% year on year in October, according to a Reuters poll. Analysts had forecast a decline of 1.5% in October exports, according to a Reuters poll. The world's second-largest economy has been grappling with weakening domestic consumption and a protracted property crisis, with exports being a rare bright spot.
Persons: Bruce Pang Organizations: Analysts, JLL, CNBC Locations: Qingdao Port, Shandong province, Qingdao, China, Greater China
Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.
Persons: , Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH
Intuit Dome wants to rewire fans’ habits and change the way they’re used to rooting for the home team. “It feels kind of like an NBA Disneyland, versus [Crypto.com Arena, the Clippers’ former home, shared with the Los Angeles Lakers] where it’s a multiteam, multisport arena,” said Oscar Burrows-Rangel, a longtime Clippers fan. Just as unique, however, are the design choices that earn less attention but also affect the customer experience, said longtime Clippers fans who attended the Oct. 23 regular-season opener, against Phoenix. He has said the number of toilets and urinals is three times the number in the average NBA arena. One of the most significant elements about watching a Clippers game that Ballmer aims to change involves what is heard, and what isn’t, in other parts of the building.
Persons: Steve Ballmer, Ballmer, Gary Coronado, , Oscar Burrows, Rangel, Ryan Sun, James Harden, Ivica Zubac, ” Burrows, Erica Okeith, ” Okeith, Kirby Lee, Kevin Durant, Okeith, Jason Holzgang, Holzgang, , checkouts, Daniel Albitres, Albitres, , ” Albitres Organizations: Intuit Dome, Los Angeles Clippers, Microsoft, Clippers, Los Angeles Times, Getty, NBA, Intuit, Los Angeles Lakers, longtime Clippers, Phoenix Suns, Farm, Phoenix, AP, Xbox, Los Angeles Sports Arena, AP Suns, Crypto.com, Suns Locations: INGLEWOOD, Calif, , Arizona, Atlanta, The, Golden State , New York, Boston
A ballot measure that would have enshrined abortion rights in Florida's constitution failed on Tuesday, NBC News projects, after a political fight that was among the most hotly contested in the state this election cycle. The amendment won majority support from Florida voters, but it needed to cross the 60% threshold to pass under state law. Its defeat is a setback for reproductive rights groups in the red-leaning state and a victory for Republican Gov. Even though the ballot measure failed, the NBC News Exit poll found that 65% of Florida voters said abortion should be legal in all or most cases. Another ballot measure DeSantis opposed, the effort to legalize the use of recreational marijuana in Florida, also failed on Tuesday, NBC News projected.
Persons: Ron DeSantis, Roe, Wade, DeSantis, , Jessica Rosenworcel Organizations: NBC News, Republican Gov, DeSantis, U.S, Supreme, American Civil Liberties Union, , Federal Communications, NBC Locations: Florida, Iowa
As the central bank lowers its benchmark rate, mortgage rates are expected to go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering in the mid-6% range today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are in the high 5% range, according to Zillow data. 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.
Persons: they've, Jerome Powell's, you'll, Freddie Mac, it's, They'll Organizations: Zillow, Fed Locations: Chevron
Mortgage rates rose again last week, pulling demand from both the refinance and purchase markets. Total mortgage application volume dropped 10.8% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications for a mortgage to purchase a home decreased 5% for the week and were just 2% higher than the same week one year ago. Mortgage rates, however, are pricing some buyers out again, and concern over the economy and the election may have some sitting on the sidelines right now. Mortgage rates were essentially flat to start this week, and whatever the results, or nonresults of the election, will surely play into recent volatility.
Persons: Joel Kan, Kan Organizations: Mortgage, Federal Reserve Locations: Alhambra , California
New York CNN —No single business leader did more to support former President Donald Trump’s candidacy than Elon Musk. Musk has donated nearly $119 million so far to a political action committee he set up to support Trump, according to Federal Election Commission filings. Elon Musk steps onto stage as Republican presidential nominee, former President Donald Trump addresses a campaign rally in Butler, Pennsylvania on October 5. It will only help Tesla,” Musk posted on X in July. It’s not likely Trump would want to cut that support, and the promise of jobs in those states, even if they will eventually provide competition for Musk and Tesla.
Persons: Donald Trump’s, Elon, Trump, Musk, He’s, , Daniel Ives, Tesla, Kamala Harris, , Biden, Elon Musk, Donald Trump, Anna Moneymaker, he’s, ” Musk, Ives, ” Ives, It’s, Jim Farley, Jeff Schuster, we’re, Jade Gao Organizations: New, New York CNN, Trump, Wedbush Securities, SpaceX, , Treasury Department, Republican, EV, Tesla, EPA, Industry, Getty, Boeing, NASA, International Space Locations: New York, Tuesday’s, America, United States, Butler , Pennsylvania, Trump’s, Europe, Asia, California, China, Shanghai, Beijing, AFP, Tesla
She got her first credit card as a freshman to build up her credit score and kept a strict budget. Griffin now uses her AmEx cards to earn points for travel costs and flew to Japan for free. I'd marked all the due dates in my calendar, and I was never late for a credit card payment. AdvertisementIn addition to all the benefits I've received when traveling, my credit cards helped me raise my credit score to 755. I never stop learning about financeI think college students should consider getting a student credit card with no fee.
Persons: Skylar Griffin, Griffin, , I'd, I've, I'm, Amex isn't Organizations: Service, Columbus State University, Bank of America, Marriott, Hilton, Hertz, Rentals, Business, of America Locations: Japan, Georgia, New York, Bahamas, Japan , New York, Miami
Elon Musk's Twitter purchase has been a financial disaster. But if Twitter helped elect Trump, and Trump rewards Musk for that, does that matter? We don't know what role Twitter — and Musk's money — played in Trump's election. 🇺🇸🇺🇸The future is gonna be so 🔥 🇺🇸🇺🇸 pic.twitter.com/x56cqb6oT5 — Elon Musk (@elonmusk) November 6, 2024So, was that $44 billion well-spent, after all? AdvertisementThe truth is we won't know for some time — possibly forever — how much Musk's Trump support mattered.
Persons: Elon, Trump, Twitter, , Elon Musk, Donald Trump, rena, ould, emin, ories, ou this, aga, Amer, tim e Organizations: Twitter, Trump, Service, Elon, YouTube Locations: Trump's
DETROIT – President-elect Donald Trump's victory over Vice President Kamala Harris is expected to send the U.S. electric vehicle industry into a period of uncertainty. Republicans, led by the former president, have largely condemned EVs, claiming they are being forced upon consumers. Several people said they would expect Trump to target federal consumer credits that currently offer up to $7,500 for the purchase of an EV rather than target industrial production credits for companies. "It has some really good things in it that I think Republicans and Democrats will like." Many of the investments into EV production under the IRA having been taking place in Republican states such as Ohio, South Carolina and Georgia.
Persons: Donald Trump's, Kamala Harris, EVs, Trump, David Rubenstein Organizations: GM, DETROIT –, U.S, Environmental Protection Agency, Biden, Auto, Trump, The Carlyle Group, CNBC Locations: Detroit, Hamtramck, Ohio, South Carolina, Georgia
BTIG's list of biggest Trump winners and losers
  + stars: | 2024-11-06 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
In addition, he has floated plans to reduce corporate tax rates to as low as 15% from 21%, and eliminate income tax on tips, Social Security and overtime pay. Those include reduced individual income tax rates and increased alternative minimum tax (AMT) exemption amounts. These stocks are among those BTIG sees as the biggest winners and losers from Trump's victory. Winners M & A and consolidation A Trump presidency likely means a more supportive environment for corporate consolidation, Boltansky said. That would be positive for names like HealthEquity, which BTIG rates a buy, and Webster Financial , he noted.
Persons: Donald Trump, BTIG, Isaac Boltansky, Trump, Boltansky, CoreCivic, MicroStrategy, Webster Organizations: White, ACA, Social Security, Trump, Discover Financial, Discover, Republican White, Geo, United States Marshals Service, Federal Bureau of Prisons, Geo Group, Webster Financial, HealthEquity, Everest Group Locations: United States, China
Super giant TVs are flying off store shelves
  + stars: | 2024-11-05 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
XXL TVs – are becoming a huge hit as the cost of giant screens sinks sharply, and viewers look to replace the screens they bought during the peak of the pandemic a few years ago. Still, the growing popularity of XXL TVs could help Best Buy climb out of a series of downbeat quarters. Target, Costco and Walmart also have similar XXL TVs on sale ahead of the holiday season. XXL TVs are mirroring the growth of what four years ago were considered extra-large televisions: 65-inch models that customers scooped up during the pandemic. But with those now-four-year old televisions starting to get long in the tooth for some impatient customers, XXL TVs represent an attractive upgrade.
Persons: Corie Barry, ” Blake Hampton, ” Paul Gagnon Organizations: New, New York CNN, XXL, CNN, Target, Costco, Walmart Locations: New York, United States,
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