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☆ Behind America's divided economy: Booming luxury travel and a jump in 'relief' loans
▼ + stars: | 2024-05-10 | by ( Alex Harring | ) www.cnbc.com time to read: +11 min

First-class travel has exhibited special strength, though management noted that can be tied in part to a resurgence of business trips. People taking these loans are more likely to be lower-income with no more than a high school diploma, Lanier said. Daniel Acker | Bloomberg | Getty ImagesFrozen food maker Tyson Foods has seen consumers shifting more to eating at home than the quick-service restaurants it supplies. It's also important to remember that lower-income Americans were feeling financial pressures before the pandemic, said Tyler Schipper, an associate professor of economics at the University of St. Thomas in Minnesota. Airbnb touted interest in travel to events like the Paris Olympics and the European Cup in Germany this summer.

Persons: there's, It's, Christophe Le Caillec, underscoring, Blair Lanier, Lanier, McDonald's, Tyson, Daniel Acker, Tyson Foods, Stanley Black, Decker, Jane Fraser, CNBC's Sara Eisen, Fraser, Nancy Lazar, Piper Sandler, Tyler Schipper, Thomas, Schipper, Eric Thayer, We've, Cliff Pemble Organizations: TSN, American Express, Federal Reserve, CNBC, People, University of Michigan, San Francisco Federal Reserve, U.S, PepsiCo, Bloomberg, Getty, Tyson, Management, Adobe Analytics, Furniture, Citigroup, University of St, Airlines, Delta Air Lines, JetBlue Airways, Caribbean . Booking Holdings, Paris Olympics, European, Ticketmaster, Cedar Fair, Flags, Wayfair, Garmin Locations: America, U.S, Minnesota, New York, Germany, Valencia , California

☆ AI washing: A Microsoft VC's warning about dubious, and rising, corporate artificial intelligence claims
▼ + stars: | 2024-05-10 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

Some are practicing something called "AI washing," which Securities and Exchange Commission chair Gary Gensler explained in a video includes "false claims to investors by those purporting to use those new technologies." In reality, what AI washing leads to is a breakdown of confidence between vendors and their consumers, enterprise partners and investors. Bates says so-called button-pushing applications are AI washing, too. "These prompts that are being sold as AI companies, they have to be maintained and monitored and adjusted in order to work." Stewart says even 80–90% gross profitability for a fully AI company with limited human intervention is standard.

Persons: they're, Gary Gensler, It's, it's, Michael Stewart, Timothy Bates, Bates, Toby Coulthard, Coulthard, Microsoft's, Stewart Organizations: Securities, Exchange, SEC, Inc, University of Michigan, Flint College of Innovation & Technology, Lenovo, General Motors

☆ Consumer sentiment tumbles as inflation fears surge, closely watched survey shows
▼ + stars: | 2024-05-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for the month, down from 77.2 in April and well off the Dow Jones consensus call for 76. Along with the downbeat sentiment measure, the outlook for inflation across the one- and five-year horizons increased. The inflation readings represent the biggest pitfall for policymakers as the Federal Reserve contemplates the near-term path of monetary policy. The next important data point for inflation comes Wednesday when the Labor Department releases its consumer price index report for April.

Persons: Dow Jones, Joanne Hsu, Paul Ashworth, Jeffrey Roach, it's, Jerome Powell Organizations: The University of Michigan Survey, Dow, North, Capital Economics, Federal Reserve, LPL, Fed, Labor Department Locations: North America, Michigan

☆ Consumers haven’t felt this bad about the economy since November
▼ + stars: | 2024-05-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

Additionally, consumers are bracing for even higher price increases in the year ahead compared to readings from prior months, the survey found. However, the latest reading is still better than last May, when inflation was running at 4%, versus the latest reading of 3.5%. Long-run inflation expectations also rose, to 3.1% from 3.0% in April. Since inflation expectations can effectively control the pace of price hikes, businesses take those expectations into account when pricing goods and services. The survey suggests that the recent optimism consumers had about the state of the economy is waning.

Persons: Biden, FactSet, it’s, they’re, Joanne Hsu Organizations: New, New York CNN, University of Michigan, Federal Reserve, Fed, Consumers Locations: New York

☆ Tech sits out Thursday's rally as the S&P 500 inches closer to its March record
▼ + stars: | 2024-05-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Thursday's gains put the S & P 500 less than 1% away from its record close on March 28. Tech sits out: The only S & P 500 sector in the red Thursday was technology. A bunch of solar stocks, which fall under the tech bucket, were lower after SolarEdge gave disappointing second-quarter guidance. S & P leaders: The top-performing sectors in the S & P 500 on Thursday were real estate, utilities and energy. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Dow, Stocks, We'll, we'll, SolarEdge, It's, Jayshree, What's, Jim Cramer's, Jim Organizations: CNBC, University of Michigan's, Tech, Arm Holdings, Arista Networks, Dow, Utilities, Technologies, Insulet Corp, Akamai Technologies, Jim Cramer's Charitable Locations: SolarEdge, Salesforce

Two of three speakers at the engineering school’s ceremony disappeared abruptly from the school’s graduation website. A self-described “fourth-generation Trojan” from Pasadena, Ms. Blain, who has spent much of her life imagining her own U.S.C. Pro-Palestinian students tried to set up an encampment on campus days later, and university officials summoned the Los Angeles police. At the engineering school, where Ms. Tabassum, the valedictorian, will be graduating, professors were trying to resurrect her chance to speak. A university committee had picked Ms. Tabassum, who is Muslim and of South Asian ancestry, from about 100 undergraduates with near 4.0 grade point averages.

Persons: Kevin Feige, Liza Colón, Zayas, Tina, “, ”, Jaren Lewison, they’re, Ella Blain, Blain, Linda Thomas, Greenfield, Biden, U.S.C, Asna Tabassum, Jon M, Chu, Marcia McNutt, Blain’s, Annette Ricchiazzi, Carol Folt, Missives, Sean Penn, —, Goodwin Liu, Merrill Balassone, Phil Chan, Pam Zhang, Safiya Umoja Noble, Lewison, Jane Coaston, Tabassum, Yannis C, Folt, Kevin Crawford Knight, Didi Global, Zohreh, Khademi, Knight, ” Hossein Hashemi, Hashemi, Dustin Jeffords Organizations: University of Southern, Angeles, Marvel Studios, Hollywood, Netflix, Dornsife, of Letters, Arts and Sciences, Los Angeles Memorial, School of Dramatic Arts, University of Michigan, Ann Arbor , Indiana University, Bloomington, Northeastern University, United Nations, University, Vermont’s, Columbia University, National Academy of Sciences, Los Angeles police, Community, Dodger, California Supreme, MacArthur, Rossier School, Education, Jewish, commencements, New York Times, Microsoft, Media, “ Locations: University of Southern California, Los Angeles, Coast, Aude, Pasadena, Gaza, Ann Arbor ,, Boston, U.S, Israel, U.S.C, California, San Bernardino County

☆ Campus Protesters Are Demanding Colleges Divest From Israel. That Is Intellectually Impossible. - The New York Times
▼ + stars: | 2024-05-09 | by ( Gary Sernovitz | ) www.nytimes.com time to read: +1 min

“Disclose, divest, we will not stop, we will not rest” is a frequent chant ringing through pro-Palestinian college protests. A proposal Columbia students put forward in December calls for divestment from Microsoft, Airbnb, Amazon and Alphabet, among others. Administrators at some universities, including Brown and Northwestern, have agreed to talks with students about divestment as part of agreements to end campus encampments. Before the war in Gaza, it had been pretty easy for universities to make compromises around divestment demands, but those expedient choices are haunting them now. Every investment in elite schools’ endowments is up for debate.

Persons: Airbnb, Brown, “, ” Organizations: Hamas, Columbia, Microsoft, West Bank, University of Michigan Regents Locations: Israel, Columbia, Northwestern, Gaza

☆ Key lines: CNN’s interview with Biden on polls, protests and more
▼ + stars: | 2024-05-08 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden sat down with CNN’s Erin Burnett on Wednesday for a rare, one-on-one television interview with a member of the national media. But Biden expanded, suggesting protesters have gone too far:There is a legitimate right to free speech and protest. There’s a legitimate right to do that and they have a right to do that. But there’s not a legitimate right to use hate speech. There is not a legitimate right to block people’s access to class.

Persons: Joe Biden, CNN’s Erin Burnett, Biden, Donald Trump, We’ve, they’re, ” Biden, ”, SSRS, Jennifer Agiesta, He’s, I’ve, Trump, won’t, ’, ►, Joe ”, There’s, there’s, Israel, bin, They’re, “ We’re Organizations: CNN, Biden, Trump, University of Michigan, Microsoft Locations: Wisconsin, Midwest, Israel, Racine , Wisconsin, Scranton, “, Gaza, Afghanistan, Iraq, Rafah

☆ Macklemore criticizes Biden in new song supporting pro-Palestinian student protests
▼ + stars: | 2024-05-08 | by ( Scottie Andrew | ) edition.cnn.com time to read: +17 min

Across the US, pro-Palestinian protesters have been occupying lawns and buildings on campuses, and many are requesting that their universities divest from Israel. Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: Macklemore, Joe Biden, ” Macklemore, Donald Trump, Columbia’s Hamilton, Hind Rajab, Hind, who’ve, ”, He’s, Biden, Jon Batiste, Selena Gomez, Annie Lennox, “, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Seattle concertgoers, Seth Rogen Organizations: CNN, Columbia University, Biden, University of California, University of Arizona, Dua Lipa, Scottish, United Nations Relief, Works Agency for Palestine Refugees, Hamas, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, Getty, The George Washington University, Israel, AFP, Police, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Seattle, Trump Locations: Gaza, Israel, University of California Los Angeles, Palestine, Dua, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, AFP, The City College of New York, Columbia, Columbia's, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Washington

☆ Young Michigan voters reveal deepening political problems for Biden seven months after start of Israel-Hamas war
▼ + stars: | 2024-05-08 | by ( John King | ) edition.cnn.com time to read: +11 min

“All roads to the White House go through Michigan,” Gray said. “Michigan is up for grabs, and I did not think I would be saying this right now. “And that starts with calling for a cease fire, for listening to his student voters across the country.”A sign in the encampment at the University of Michigan in May 2024. Younger voters were critical to Biden returning Michigan to the blue column in 2020; exit polling showed Biden winning 61% of voters aged 18-29, to just 37% for Donald Trump. Both hope a break from campus protests and demonstrations will give younger voters time and space to see a bigger picture.

Persons: Ann, Jade Gray, ” Gray, ”, Gray, Jalisatgi, Joe Biden, “ Joe Biden, CNN Jalisatgi, Biden, Donald Trump, Matkin, “ I’d, Summer Matkin, John King, Taylor Swift, ” Matkin, Trump, “ I’ve, Maya Siegmann, Siegmann, “, …, Siegmman, Hillel, ” Siegmann, Benjamin Netanyahu, Ibrahim Ghazal, Ghazal, ” Ghazal, ” Ibrahim Ghazal, CNN Ghazal, I’m, Who’s, ” Jalisatgi Organizations: Ann Arbor , Michigan CNN, University of Michigan Student Union, College Democrats, University of Michigan, CNN, Biden, Younger, Michigan Democrats, Wayne State, Trump, Wayne, CNN Wayne State, Hillel, Jewish, Israel, Democratic, GOP, New University of Michigan, Jalisatgi, University of Michigan’s, Supreme Locations: Ann Arbor , Michigan, Gaza, Michigan, “ Michigan, Israel, Detroit, Palestine, Wayne State, Dearborn, Dearborn Heights, Hamtramck, Missouri

☆ Gold slips as dollar firms, traders brood on rate cut timing
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. If the upcoming reports show scary inflation, then the Fed can't cut rates and it will pressure gold, he added. Bullion is used as a hedge against inflation, but higher rates reduce the appeal of holding the non-yielding asset. Markets are currently seeing a 65% chance of a U.S. rate cut in September, as per CME's FedWatch Tool.

Persons: Ilya Spivak, Neel Kashkari, Spivak Organizations: University of, Minneapolis Locations: U.S, China's, China

☆ A high-stakes report looms over Biden on whether Israel violated international law
▼ + stars: | 2024-05-07 | by ( Kylie Atwood | Jennifer Hansler | ) edition.cnn.com time to read: +19 min

Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Mike Blake/Reuters Pro-Palestinian protesters stand their ground after police breached their encampment at UCLA on May 2. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: CNN —, Biden, Joe Biden, Benjamin Netanyahu, Antony Blinken, “, Matthew Miller, Adam Schultz, Netanyahu, Israel, Mahmud Hams, It’s, ”, Democratic Sen, Chris Van Hollen, Sen, Alex Brandon, Van Hollen, Miller, ” Miller, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk Organizations: CNN, State Department, Israeli, Congress, Hamas, Capitol, ”, National Security, Getty, State Department’s Bureau, Political, Military Affairs, Defense Department and National Security Council, Biden, Israel, Palestinian, Israel Defense Forces, United Nations Office, Human Rights, Biden Democrats, Democratic, Democratic Party, Republican, Department, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, The George Washington University, AFP, Police, University of California, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Columbia University, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, USAID Locations: Israel, Gaza, Rafah, Capitol Hill, Iran, Palestinian American, Jabalia, AFP, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge

☆ This college town is experimenting with giving low-income entrepreneurs and gig workers $12,672, no strings attached
▼ + stars: | 2024-05-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Ann Arbor's program, called Guaranteed Income to Grow Ann Arbor, is giving low- and moderate-income residents $528 a month, no strings attached. Over 50 municipalities have tried the GBI model since 2019, offering low-income participants between $100 and $1,000 a month, no strings attached for one to five years. "This pilot will help us learn whether guaranteed income payments can be an effective way to help some entrepreneurs with their business efforts." Chicago announced in April that it restarted its previous GBI program that offered low-income residents $500 a month. A GBI program in Harris County, Texas is being challenged by Attorney General Ken Paxton, who called the program "unconstitutional."

Persons: —, Ann, Ann Arbor's, Monique Gonzalez, Ann Arbor, GBI, Ken Paxton Organizations: Service, Business, Local, Services, Denver, Ann Arbor Area Community Foundation, University of Michigan, Chicago, Republican Locations: Ann Arbor , Michigan, Ann Arbor, San Antonio, Antonio's, Ann, Michigan, Atlanta, Denver, Flint, Harris County , Texas, Iowa , Arizona, South Dakota

☆ Experimental gene therapy restores some vision in patients with inherited blindness
▼ + stars: | 2024-05-06 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +16 min

“Now, post-surgery and post recovery, I am able to see in dimmer lighting with my left eye,” Cook said. A treatment that used CRISPR was found to be safe and efficacious in improving vision among a small sample of patients with inherited blindness in the Phase 1/2 clinical trial that Cook participated in. Months following the treatment, Cook was sitting with friends on a balcony that had Christmas lights wrapped around the railing. Courtesy Olivia CookBefore the treatment, Cook said that she sometimes could conceal the vision challenges she has had. Mass Eye and EarKalberer described the CRISPR treatment as “groundbreaking,” but warned it’s not a cure.

Persons: Olivia Cook, Cook, ”, ” Cook, “, I’ve, “ I’d, you’d, CRISPR, Eric Pierce, Brigham, “ We’re, ” Pierce, Jason Comander, ‘, Michael Kalberer, Kalberer, it’s, “ It’s, It’s, Pierce, Editas, We’re, Art Caplan, ” Caplan, —, Vlad Diaconita, ” Diaconita, Dr, Sanjay Gupta, Aliaa Abdelhakim Organizations: CNN, Missouri State University, New England, of Medicine, Mass, Harvard Medical School, Editas Medicine, Perelman School of Medicine, University of Pennsylvania, University of Michigan, University of Miami, Oregon Health & Science University, US Food and Drug Administration, CEP290, pharma, NYU Grossman School, Medicine’s Department of Population Health, Columbia University Vagelos College of Physicians and Surgeons, CNN Health Locations: Springfield, United States, CEP290

☆ Dozens arrested in weekend of protests on U.S. campuses
▼ + stars: | 2024-05-05 | by ( ) www.cnbc.com time to read: +3 min

Police on Saturday arrested at least 25 pro-Palestinian protesters and cleared an encampment at the University of Virginia, the university said in a statement, as U.S. campuses braced for more turmoil during graduation celebrations. "Peaceful protests like this have taken place at U-M commencement ceremonies for decades," Mastony said in a statement. Contrasting views over Israel's war in Gaza have erupted, sometimes violently, across U.S. campuses over the last couple of weeks. Many of the schools, including Columbia University in New York City, have called in police to quell the protests. Police have so far arrested over 2,000 protesters at colleges around the country.

Persons: Joe Biden, Jim Ryan, Ann Arbor, Colleen Mastony, Mastony, Israel Organizations: University of Virginia, The University of Virginia, Art Institute of Chicago, Chicago Police, Palestinian, University of Michigan, Michigan, Columbia University, Police Locations: Charlottesville, Gaza, Israel, Ann, U.S, New York City

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ Pro-Palestinian protesters at USC comply with school order to leave their encampment
▼ + stars: | 2024-05-05 | by ( ) www.cnbc.com time to read: +3 min

Protesters left a pro-Palestinian encampment at the University of Southern California early Sunday after they were surrounded by police and told they could face arrest if they didn't go. The atmosphere on the private university campus had largely remained calm since, while attention turned to arrests at the University of California, Los Angeles. Administrators later canceled the entire main-stage commencement planned for May 10, when 65,000 people were expected to gather to celebrate graduates. Access to the private campus has largely been restricted for people not affiliated with the university since late April. Early Friday, several dozen counter-protesters had set up outside the encampment, playing scenes from the Oct. 7 Hamas attack in Israel on a screen, Annenberg Media reported.

Organizations: University of Southern, Hamas, Protesters, Los Angeles, Los Angeles Police Department, USC, LAPD, University of California, University of Virginia, University of Michigan, Annenberg Media Locations: Gaza, University of Southern California, Israel, Palestinian, Los Angeles

☆ The AI boom reminds this expert of the dot-com bubble — with one dangerous difference
▼ + stars: | 2024-05-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe AI boom resembles the dot-com bubble — but there's one big difference that makes this craze far more dangerous, says one expert. "Many dot-com companies that drove the internet change went broke doing it. Many AI companies driving as big a change will go broke or lose half their value." "The giant AI pioneers won't go broke, but if AI losses drive their stock prices down, lots of investors will suffer," Gordon said. He's previously drawn a line between the dot-com bubble and the tech-stock boom.

Persons: —, Erik Gordon, Gordon, He's Organizations: Service, Business, University of Michigan's Ross School of Business, Nvidia, Microsoft, Big Tech

☆ What exactly goes into closing costs?
▼ + stars: | 2024-05-04 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

But there is an often-overlooked expense when buying a home: closing costs. At the same time, the Biden administration plans to take aim at so-called “junk fees” hidden in closing costs. New York, Delaware and Washington, DC, have the highest average closing costs, according to Bankrate; while Missouri, Indiana and North Dakota have the lowest. Lowering closing costs on your ownThere is one relatively simple way to lower your overall closing costs: shop around. “When you compare those offers, examine not just the rate itself but also the closing costs.

Persons: homebuyers, —, Biden, ” Jeff Ostrowski, , ” Ostrowski, you’re, homebuyers haven’t, Brian Connolly, it’s, “ It’s, ” Connolly, Connolly, ”, Freddie Mac, ” Genaro Villa Organizations: CNN, Consumer Financial, National Association of Realtors, realtors, University of Michigan, NAR, homebuyers Locations: New York , Delaware, Washington, Missouri, Indiana, North Dakota, Bankrate, AnnualCreditReport.com

☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Why many Americans still feel bad about the economy despite strong data
▼ + stars: | 2024-05-03 | by ( Jeff Huang | In Jefftchuang | ) www.cnbc.com time to read: +1 min

These are the kinds of questions used by the University of Michigan to calculate the Consumer Sentiment Index, an economic indicator measuring how people feel about the economy. That survey and others show there is a pervasive sense of disconnect between the overall economic picture and how people feel about the economy. Despite slowing inflation, a healthy labor market with record-low unemployment, and stocks that remain in a bull market, consumer sentiment remains below pre-pandemic levels. "People don't tend to think in terms of inflation—economists do," said Paul Donovan, chief economist at UBS Global Wealth Management. Normal people think in terms of price levels."

Persons: Joanne Hsu, Paul Donovan Organizations: University of Michigan, Consumers, UBS Global Wealth Management Locations: U.S

☆ Johnson looks to unify GOP with crack down on college campus protests
▼ + stars: | 2024-05-02 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +9 min

“Anti-Israel protests on college campuses threaten Jewish students,” says the ad, which was shared first with CNN. While supporters of the legislation say it will help combat antisemitism on college campuses, opponents argue it overreaches and threatens to chill free speech. Some Democrats see the new investigative effort into college campuses and Johnson’s recent visit to Columbia University as a divisive political ploy. “Clearly it’s a very high priority for him,” GOP Rep. Frank Lucas of Oklahoma, the chairman of the House Science Committee, told CNN. House GOP Conference Chairwoman Elise Stefanik, who sits on the Education panel, is also expected to play a prominent role in the effort.

Persons: Mike Johnson, Johnson, speakership, ” Johnson, “, ”, Marjorie Taylor Greene, Donald Trump, Nick Fuentes, Pramila Jayapal, Joe Biden, James Comer, Lisa McClain, Biden, “ I’ve, Frank Lucas of Oklahoma, Virginia Foxx, Elise Stefanik, Jim Jordan, Comer, ” Comer, ” CNN’s Haley Talbot Organizations: CNN, Republican, House Democratic, GOP, Louisiana Republican, Columbia University, Democrats, White, Department, Education, International Holocaust, Alliance, Columbia, Michigan, House Education, Workforce Committee, House Science, North Carolina, Yale University, University of California, University of Michigan, House GOP, New York Republican, Science, Republicans, George Washington University, Kentucky Republican Locations: Louisiana, Israel, Marjorie Taylor Greene of Georgia, Lago, Washington, Columbia, University of California Los Angeles, “, Ohio

☆ Campus protesters are calling for divestment. Here’s what that means
▼ + stars: | 2024-04-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

“Disclose, divest, we will not stop, we will not rest,” protesters at Columbia and universities across the country have chanted. Student protesters who oppose Israel’s military action in Gaza are demanding that their universities sell investments in companies with ties to Israel. Pro-Palestinian protesters say divestment would send an important message of disapproval of Israel’s conduct in Gaza. But while demonstrators have spread their messages across the country, many schools haven’t acquiesced to protesters’ calls for divestment. There are historical precedents for university divestment.

Persons: Israel’s, haven’t, Columbia’s, ”, Christina Paxson, ” Nicholas Dirks, “, Dirks Organizations: CNN — College, Student, Columbia University Apartheid, Microsoft, Protesters, Cornell, Yale, University of Michigan, The University of California, University of California, University, University of Texas, Brown, Brown Daily Herald, Portland State University, Boeing, Columbia, Ford, CNN Locations: Israel, Columbia, Gaza, Dallas, South Africa, Berkeley

☆ How universities are cracking down on a swell of tension months into student protests over Israel’s bombardment of Gaza
▼ + stars: | 2024-04-28 | by ( Dakin Andone | ) edition.cnn.com time to read: +17 min

Soon, dozens more students protesting the monthslong assault on Gaza were arrested at New York and Yale universities. Ash told CNN he was one of 20 students arrested following a sit-in on November 8. The charges were later dropped, according to the Brown Daily Herald, but 41 students arrested the following month in similar circumstances still face charges, which protesters now want dropped. Separately, the referendum on the BDS resolution “did not move forward because of potential conflict with federal and state laws,” the university told CNN in a statement. Police then were aggressive, Agrawal told CNN.

Persons: strode, –, Jordan Vonderhaar, that’s, Zach Greenberg, ” Greenberg, ” “, ”, Dima Khalidi, “, Greenberg, …, Arman Deendar, Rafi Ash, Ash, ” Ash, Richard Vogel, Jack Petocz, Petocz, Vanderbilt, Samson Zhang, Alexander Hall, Pitzer, Mita Banerjee, Banerjee, ” Arrestees, Natascha, Shubh Agrawal, Agrawal, Colleen Mastony, Israel, Grace Hie Yoon, Adam Lehman, who’ve, they’re, ” Lehman, CNN’s Dana, Israel –, Palestine Legal’s Khalidi, ” Khalidi, CNN’s Nicquel Terry Ellis, Chelsea Bailey, Isabel Rosales, Devon Sayers Organizations: CNN, New York’s Columbia University, Yale, University of Texas, University of Southern, Emory University, Boston’s Emerson College, Indiana University, George Washington University and California State Polytechnic, Humboldt, Bloomberg, Getty, Foundation, Rights, ”, White, Palestine, Brown University, Brown Daily Herald, University Public, Vanderbilt University, Vanderbilt, Coalition, ” Vanderbilt University, Community, Officer, Barnard College, Harvard University, Boston, Pomona College, Claremont Colleges, Pomona, Pomona College’s, for Justice, ” Claremont Police, Pro, Palestinian, George Washington University, University of Michigan’s, Investment, University of Michigan, Police, New York University, New, Civil Liberties Union, Anadolu Agency, Jewish, Hillel International Locations: New, Gaza, New York, Austin, University of Southern California, Atlanta, Israel, Rhode Island, Los Angeles, Nashville, Florida’s, Southern, Palestine, TAHRIR, “ City, Vietnam

Emory University: 28 people were arrested, including 20 Emory community members, during a protest at the school, Vice President for Public Safety Cheryl Elliott said. Brown University: The university identified about 130 students who it alleges violated a school conduct code that forbids encampments on campus. George Washington University: DC Metropolitan Police were asked to assist in relocating an “unauthorized protest encampment” on campus, university president Ellen M. Granberg said. Northeastern University: An encampment formed at Northeastern University in Boston, where dozens of protesters were seen forming a human chain around several tents. Other campuses: Since last Thursday, there have been protests at several campuses, including the Massachusetts Institute of Technology, University of Texas at Austin, University of Michigan, University of New Mexico, University of California, Berkeley, Yale University, Harvard University, Princeton University and the University of Minnesota’s Twin Cities campus.

Persons: —, Minouche, Shafik, Cheryl Elliott, Jay Bernhardt, Ellen M, Granberg, GWPD Organizations: New York's Columbia University, Columbia University, The New York Times, University of Southern, Emory University, Emory, Public, Troopers, Georgie State Patrol, Democratic, Georgia State Patrol, Emory . Brown University, Students, Emerson College, Boston, Boston Police Department, Indiana University, George Washington University, DC Metropolitan Police, University of California, UCLA, Northeastern University, Massachusetts Institute of Technology, University of Texas, Austin , University of Michigan, University of New, Yale University, Harvard University, Princeton University, University of Minnesota’s, University of Minnesota’s Twin Cities Locations: Israel, Gaza, University of Southern California, Democratic Georgia, Los Angeles, Boston, University of New Mexico, Berkeley, University of Minnesota’s Twin

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