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☆ Housing market to remain 'stuck' until at least 2026, Bank of America says
▼ + stars: | 2024-06-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The housing market is unlikely to recover for several years and affordability won't get any better unless a recession hits, according to Bank of America economists. "The US housing market is stuck, and we are not convinced it will become unstuck anytime soon," Bank of America economist Michael Gapen and others said in a Monday note. In some respects, the housing market is a victim of its own success: Buyers swarmed in after Covid hit, taking advantage of mortgage rates around 3% and even less. Bank of America does expect some moderation in regard to prices, but again not for a few years. As things stand, the NAR's housing affordability index , after rising earlier this year, tumbled in May to its lowest level since November 2023.

Persons: Michael Gapen, Gapen, Covid Organizations: Bank of America, Federal Reserve, National Association of Realtors, NAR

☆ We gave up city life and moved to Bali. It was a lot more challenging than we expected.
▼ + stars: | 2024-06-24 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

My partner, Steve, and I moved to Bali two years ago, in July 2022. While living in the capital, I met Steve, who had moved over from Sydney to work in education in 2015. In Bali, we paid them in person for a few months before we finally learned how to do it online. We didn't celebrate ourselves enough for the milestones we achieved during our moveLooking back, we were too focused on getting our lives in Bali started right away. Many others I've spoken to in Bali are experiencing similar challenges of building a life and career here while transitioning from a 9-to-5 schedule.

Persons: —, Nadia Rose, Steve Willis, Steve, I've, we'd, We've Organizations: Service, Business Locations: Bali, Malaysia, Kuala Lumpur, Sydney, Australia, KL

☆ I retrained as a plumber after being laid off from my media job and becoming a mom. I love the flexibility.
▼ + stars: | 2024-06-22 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +8 min

In August 2020, I was laid off from my job, and a couple of days later, my husband left me. I was working a contract job for a literacy nonprofit, and thankfully, they allowed me to take six weeks off to complete the plumbing course. AdvertisementThat pushed me to become self-employed in plumbing and do this alongside my media work, which forms the basis of my income. I currently carve out one day a week for plumbing work — I concentrate on smaller maintenance, so I can do around four to six jobs within a day. The plumbing work gives me good flexibility, and I'm very aware that it is a way of future-proofing my career in case the rise of AI makes elements of my media work redundant.

Persons: —, R.J, I've, We'd, Fenton, I'd, they've Organizations: Service, Business, City & Guilds Foundation Locations: Fenton, South East, England

☆ China’s 618 e-commerce festival sees a decline in sales for the first time in 8 years, data firm Syntun says
▼ + stars: | 2024-06-20 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

China's annual 618 mid-year e-commerce festival saw sales drop for the first time in 8 years, according to retail data provider Syntun, signaling consumption recovery in the world's second-biggest economy was still quite slow. It was also the first time sales clocked a decline since Sytun began monitoring the event in 2016, the company told CNBC. It is China's second-biggest annual sales event after "Singles Day" in November — both are seen as a barometer for household consumption. Weak sales this year came despite some companies extending their 618 sales period, according to Sytun's analysis, which covered over 20 platforms. Tmall, for instance, started offering its 618 deals as early as May 20 this year, as opposed to its typical May 31 start date.

Organizations: CNBC, PDD Holdings, Apple

☆ Red flags that suggest a job posting doesn’t offer a 'competitive salary' as it claims, recruiters say
▼ + stars: | 2024-06-20 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Job postings that claim to offer a "competitive salary" are on the rise, putting more onus on job seekers to suss out how much money they can expect from a new role. If you're at the start of a hiring process without pay clarity, there may be early indications that the promise of a "competitive salary" is an empty one. Here are some red flags to watch out for in your conversations with recruiters and hiring managers. But if the company continues to evade the pay conversation after multiple interviews, that's a clear red flag, according to Hyman. Why don't you take some time to digest it and circle back once you have established [the compensation] level?'"

Persons: Bonnie Dilber, Dilber, Jeff Hyman, that's, Hyman, they've

☆ David Zervos: The key policy differences between Trump and Biden and what they mean for markets
▼ + stars: | 2024-06-18 | by ( David Zervos | Jefferies Chief Market Strategist | ) www.cnbc.com time to read: +6 min

By no means am I interested in tackling any impact policy differences may have upon non-market related subjects. Monetary policy So let's begin with monetary policy. Fiscal policy Now let's turn to fiscal policy. Trade policy Trade policy is easy. Regulatory policy Finally, the big kahuna, regulatory policy.

Persons: Donald Trump, Joe Biden, Clinton, Christopher Waller, Michelle Bowman —, Jerome Powell, Janet Yellen, Powell, Biden, Lisa Cook, Philip Jefferson, Bill Dudley's, Covid, Trump, Cato, Stocks Organizations: Trump, Federal Reserve, Fed, Trump Fed, Bloomberg, Democratic, Heritage, AEI, Biden Locations: China

☆ Celtics capture 18th NBA championship with Game 5 win over Mavericks
▼ + stars: | 2024-06-17 | by ( Joe Vardon | ) www.nytimes.com time to read: +8 min

BOSTON — The Boston Celtics are again champions of the NBA, having claimed a milestone title Monday night that will reverberate from coast to coast and carve out legacies for the current pillars of this storied franchise. The Celtics beat the Dallas Mavericks 106-88 in Game 5 of the 2024 NBA Finals to win the series 4-1 and claim a league-record 18th NBA championship. Tatum finished with 31 points, 11 assists and eight rebounds, while Brown added 21 points. “(The Celtics are) a great team,” said Dončić, who played the series with a bruised chest and lower leg injuries. On the other end of the spectrum, Mazzulla, 35, is the youngest coach since the ABA-NBA merger in 1976 to win a title.

Persons: Joe Mazzulla, Larry O’Brien, it’d, ”, Jayson Tatum, “, ” Tatum, Jaylen Brown, Celtics ’, Tatum, Brown, Russell, it’s, ” Brown, Jayson, Payton Pritchard, PAYTON PRITCHARD, J. W, stu, Irv, ng, te, Kar, nin Organizations: BOSTON, Boston Celtics, NBA, Celtics, Dallas Mavericks, Garden, Celtic, Boston, Los Angeles Lakers, ” Celtics, ” Boston, Dallas, ABA Locations: Boston

“When I got on scene, I started to cry,” said Rochester Hills Mayor Bryan Barnett Saturday night. “Because I know what a splash pad is supposed to be. The scene of a shooting at the Brooklands Plaza Splash Pad in Rochester Hills, Michigan, on Saturday, June 15, 2024. Police respond to the scene of a shooting at the Brooklands Plaza Splash Pad in Rochester Hills, Michigan, on Saturday, June 15, 2024. “I am heartbroken to learn about the shooting in Rochester Hills,” she wrote.

Persons: Oakland County Sheriff Michael Bouchard, ”, John James, Bouchard, “, Bryan Barnett, ” Bouchard, “ We’re, WDIV, Gretchen Whitmer Organizations: CNN — Police, Oakland County Sheriff, Michigan, Rochester Hills, Michigan State University, CNN, Brooklands, Rochester, Police, Investigators, Authorities, Oxford, Gov Locations: Rochester Hills , Michigan, Brooklands, Oakland County, Rochester, Oxford , Michigan, Oxford, Rochester Hills

☆ Welcome to the age of geriatric millionaires
▼ + stars: | 2024-06-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

While it makes sense that time is often a crucial ingredient to accruing savings and assets, the average age of millionaires in the US has been rising faster than the average age of the overall population over the last three decades. How millionaires are changingSince 1992, the average age of the country's millionaires has been going up. That means that younger millionaires aren't joining their ranks fast enough to keep the average age steady. Millionaires are overrepresented beginning around age 50, but track pretty cleanly with the cohort in their 40's. What does it mean to have so many older millionaires?

Persons: —, Chuck Collins, inequality.org, Collins, America's, aren't, Garrett Watson, that's, Watson, Xers, Gen Xers, they've, haven't, That's, It's, Ed Yardeni, They're, Redfin, King Charles, King Charles III of, it's, You've Organizations: Service, Business, Policy Studies, Forbes, Consumer, Millionaires, Tax, Security, Labor, Institute for Policy Studies Locations: United Kingdom

☆ Rochester Hills, Michigan shooting: At least 9 shot, including an 8-year-old, at recreation center; suspect contained in home nearby, police say
▼ + stars: | 2024-06-15 | by ( Emma Tucker | Sara Smart | ) edition.cnn.com time to read: +3 min

CNN —At least nine people were shot at a recreation area in Rochester Hills, Michigan, on Saturday, and a suspect is contained at a home surrounded by officers near the crime scene, police said. One of the victims was 8 years old, said Bouchard, who added he could not comment on the age of the other victims. Bouchard said it appears the suspect pulled up to the recreation area, exited a vehicle and opened fire roughly 20 feet away, reloading multiple times. Authorities are bringing in additional assets, including SWAT teams and armored vehicles to assist officers at the scene, Bouchard said. “A vehicle that matched what had been described as a vehicle leaving the scene was there,” the sheriff said.

Persons: Oakland County Sheriff Michael Bouchard, “, Bouchard, ”, Bryan Barnett, “ We’re Organizations: CNN, Brooklands, Oakland County Sheriff, Rochester Hills, Authorities, ” Investigators, Sheriff’s Locations: Rochester Hills , Michigan, Rochester Hills, Oakland County, Rochester, Detroit, Oxford, Oakland

☆ Euro 2024: German and British police working together for ‘safe and trouble-free’ tournament amid hooliganism fears
▼ + stars: | 2024-06-14 | by ( Matias Grez | ) edition.cnn.com time to read: +9 min

The hostIt’s fair to say expectations for the German national team are not high within the host country. Expectations are low for the German national team. Didier Deschamps has been in charge of the national team since 2012 and last January extended his contract until 2026. After winning the World Cup and Nations League, Mbappé wants to add the Euros to his resume. That’s the only one that missed me with the national team after I did everything with the national team,” Mbappé told CNN recently.

Persons: ”, Lars Baron, Hansi Flick, Julian Nagelsmann, Nagelsmann, Christian, hasn’t, Henri Delaunay, Les, Didier Deschamps, Deschamps, Kylian Mbappé, Olivier Giroud, Antoine Griezmann, Bradley Barcola, Warren Zaïre, Emery, Eduardo Camavinga, France’s, Mbappé, Matthias Hangst, ” Mbappé, it’s, Harry Kane, Phil Foden, Saka, Declan Rice, Jude, Gareth Southgate, fthe, Southgate, Alex Grimm, ” Southgate, “, you’ve, Dominik Szoboszlai, ” Szoboszlai, “ It’s, Rafal Oleksiewicz, Oleksandr Zinchenko, Andriy Lunin, Mykhailo Mudryk, Artem Dovbyk Organizations: CNN, British, soccer’s, England, Serbian, Guardian, German Police, Policing Unit, UEFA, Serbian Football Federation, Serbian Ministry of Interior, Russia, Reuters, German, Bayern Munich, ARD, German national, Getty, Nations League, English Football Association, Liverpool, Defence, Iceland, Bosnia, Ukraine Locations: Gelsenkirchen, England, Serbia, European, Germany, North Rhine, Westphalia, “, France, Marseille, Russia, Scotland, Netherlands, Austria, Turkey, Switzerland, Hungary, Italy, Ukraine, Herzegovina, Iceland, Spain, Belgium, Slovakia, Romania

☆ My partner and I have been dating for 8 years and don't live together. Living separately works for our relationship.
▼ + stars: | 2024-06-08 | by ( Alexandra Saville | ) www.businessinsider.com time to read: +5 min

My boyfriend and I have been together for over eight years, yet we don't live together. I thought I'd live with a partner eventuallyYet, this way of having a relationship still came as a surprise. Alexandra Saville always thought she'd live with a partner one day, but living separately from her partner works for them. Our relationship has always felt differentI'd had boyfriends hold back that intimacy like it was a secret to be kept. I've known his son for over half his life, and we have our own unique and strong relationship, despite the non-conventionality.

Persons: I'd, haven't, Alexandra Saville, I've Organizations: Service Locations: New York City, Brooklyn

☆ A San Francisco Gen Xer quit his job to escape 60-hour workweeks and spend his time being an 'older dad': 'I'll be 70 when my son graduates from high school'
▼ + stars: | 2024-06-05 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

Gerstbacher, a 50-year-old based in San Francisco, was "really unhappy" at work, he told Business Insider via email. First, he's an "older dad," and he wanted to maximize the time he could spend with his three-year-old son. "I felt that I should take the quality time now since I'll be 70 when my son graduates from high school," he said. However, the decline in working men is also due to some positive developments, like the growth of women in the workforce. AdvertisementEven though he's in the process of returning to the workforce, Gerstbacher said he's continued to prioritize spending time with his son.

Persons: —, Francisco Gen Xer, Randy Gerstbacher, Gerstbacher, He's, they've, hasn't, he'd, he's Organizations: Service, Business, CDC, Bureau of Labor Statistics Locations: San Francisco

☆ I moved from the US to Ireland 8 years ago. It's has drawbacks, but my quality of life is exceptional and my education was way cheaper.
▼ + stars: | 2024-06-02 | by ( Isabella Ambrosio | ) www.businessinsider.com time to read: +4 min

The Irish culture and people are unmatchedThe drinking culture in Ireland can be enjoyable. But, part of what makes the drinking and eating culture so vibrant in Ireland is the quality of the food and drink here. Plus, it's cheaper for me to shop for fresh produce in Ireland than it ever was in the US. At University College Dublin (UCD), I paid about €72,000, or about $78,000, for all four years of school and received a bachelor's degree in English. AdvertisementI wouldn't trade my decision to study at UCD for anything in the world regardless of how expensive living in Ireland is.

Persons: —, I'd, Life's, Isabella Ambrosio The, I've, Isabella Ambrosio Ireland, There's, James Joyce, Roddy Doyle, Mary Lavin Organizations: Service, Business, Dublin, New York University, At University College Dublin, UCD, The United Locations: Chicago, Dublin, Ireland, The United States

Wai and Hui rent a two-family house with Hui's parents. Photo by CNBC Make ItWhen the lease was up on the couple's apartment, Hui's parents knew about a two-family house in Bensonhurst that was available for rent. The average size for a Brooklyn, apartment is 660 square feet, and the average monthly rent is $3,558 a month, according to RentCafe. Wai and Hui live upstairs while his parents live in their own apartment downstairs. The couple pays $1,600 a month to live in the one-bedroom, one-bath apartment on the second floor, while Wai's in-laws pay $1,900 and live on the first floor, according to documents reviewed by CNBC Make It.

Persons: Vionna Wai, Chucky Hui, Hui, Wai, Mickey Todiwala, He's Organizations: CNBC Locations: Sunset, Brooklyn, N.Y, Bensonhurst, Williamsburg, Greenpoint, Manhattan

☆ I've worked at Costco for 18 years. These 8 Kirkland Signature items feel high-end.
▼ + stars: | 2024-05-31 | by ( Veronica Thatcher | ) www.businessinsider.com time to read: +1 min

I've worked at Costco for 18 years, so I have a few favorite high-quality items I like to get there. In my opinion, the Kirkland Signature eyeglasses are comparable to those of designer brands. The Kirkland Signature hard seltzers are tasty and perfect to bring to parties or tailgates. AdvertisementI've worked at Costco for 18 years and love picking up high-quality products for my family. Oftentimes, I buy items from Costco's house brand, Kirkland Signature, which makes over 350 products, from food items to home essentials.

Persons: I've, — Organizations: Costco, Kirkland, Service, Business

☆ 22-year-old turned Roblox side hustle into a business bringing in over $100,000 a year
▼ + stars: | 2024-05-30 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Kyasia Watson made 2 cents the first time she sold clothes on Roblox, the online metaverse gaming platform — now, that same side hustle earns her over $100,000 a year. Watson, 22, began playing Roblox games in 2011 when she was 8 years old after seeing an ad for it on Google. At its core, Roblox is an app where you can play games designed by other users or create your own games, virtual experiences, avatar clothing and more through Roblox Studio. Unimpressed with the limited clothing catalog offered for Roblox avatars, Watson taught herself how to create digital fashion designs in Photoshop. On Roblox, clothing and accessories can sell for as little as 2 Robux to as much as 2 million.

Persons: Kyasia Watson, Watson, Roblox, I'd, Watson's Organizations: CNBC, Google, Roblox Locations: AskMakeIt@cnbc.com, Connecticut, Robux

☆ Sia has given over $1 million to her favorite 'Survivor' contestants. She's stopping after 8 years and no one knows why.
▼ + stars: | 2024-05-28 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Since 2016, Sia has been handing out money to her favorite "Survivor" contestants as an unofficial prize for the hit reality show. "It's the end of one of the most unique eras in the history of 'Survivor,'" Probst wrote. "After eight years, 14 seasons, 19 players and over $1,000,000 awarded, 'Survivor' is officially bringing the Sia Prize to a triumphant end!" If they also win Sia's unofficial prize, contestants stand to make a lot of money from the show. Neither Probst nor Sia have commented on whether contestants from the most recent season will receive money from the singer.

Persons: —, Sia, Jeff Probst, Probst, Tai Trang, Jonny Fairplay, Tai, Evan Agostini, I'm, She's, Topps Organizations: Service, Business, CBS, TMZ, Survivor, Fame

☆ French Open Day 2: Nadal leaves Roland Garros door ajar, Andreescu returns
▼ + stars: | 2024-05-27 | by ( James Hansen | ) www.nytimes.com time to read: +6 min

🇺🇸 Chris Eubanks, 6-3, 6-3, 6-4🇺🇸 Chris Eubanks, 6-3, 6-3, 6-4 🇹🇳 Ons Jabeur (8) def. 🇬🇷 Maria Sakkari (6), 3-6, 6-4, 6-3🇬🇷 Maria Sakkari (6), 3-6, 6-4, 6-3 🇬🇷 Stefanos Tsitsipas (9) def. 🇨🇿 Karolina Pliskova, 3-6, 6-4, 6-2🇨🇿 Karolina Pliskova, 3-6, 6-4, 6-2 🇺🇸 Ben Shelton (15) def. 🇫🇷 Hugo Gaston, 3-6, 6-3, 6-4, 6-4Hugo Gaston, 3-6, 6-3, 6-4, 6-4 🇺🇸 Danielle Collins (11) def. 🇦🇺 Max Purcell, 6-2, 6-2, 3-6, 4-6, 7-6(10)Max Purcell, 6-2, 6-2, 3-6, 4-6, 7-6(10) 🇵🇱 Iga Swiatek (1) def.

Persons: Roland Garros, Chatrier, Rafael Nadal, Alexander Zverev, Nadal, Mateo Villalba, Bianca Andreescu, Serena Williams —, Andreescu, She’s, Robert Prange, Sara Sorribes Tormo, ”, “, Serena Williams, Leylah Fernandez, Denis Shapovalov, Felix Auger, Aliassime, Jack Draper, Andy Murray’s, Cameron Norrie, Pavel Kotov, Linda Noskova, Harriet Dart, Dan Evans, Katie Boulter, they’re, Evans, Holger Rune, Paula Badosa, Disappointment, Norrie, Andy Murray, Maria Sakkari, Varvara Gracheva, hasn’t, Maria, Elina S vitolina, 🇵, Erika, Elena R ybakin Organizations: Getty, U.S ., National Bank Locations: Philippe, Montreal, British, Rome

☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ Former Google employee says company's AI work is driven by 'a stone cold panic that they are getting left behind'
▼ + stars: | 2024-05-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewGoogle might be one of the biggest players in the AI space, but an employee says the tech giant's work in the field has been motivated by "stone cold panic." But Google, Jenson said, wasn't the only tech giant guilty of making this mistake. AdvertisementJenson's scathing assessment comes as tech giants like Google and Apple have been struggling to play catch-up with AI upstarts like OpenAI. AdvertisementWhen Google unveiled its new AI model Gemini 1.5 on February 15, OpenAI dropped its text-to-video model Sora just a few hours later. Last week, OpenAI debuted its new flagship AI model, GPT-4o, a day before Google announced various updates for their models.

Persons: —, Scott Jenson, Jenson, Tony Stark, who'd, Apple didn't, Siri, OpenAI, Sam Altman Organizations: Service, Google, Business, LinkedIn, Stanford, Android, Facebook, Apple, BI, New York Times, OpenAI, iOS, Bloomberg Locations: Siri, Cupertino

☆ Elon Musk says the match he had with a sumo wrestler was 'a few minutes of glory' that became '8 years of neck pain'
▼ + stars: | 2024-05-20 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Billionaire Elon Musk once fought a sumo wrestler, and says he's still paying the price for it. "Had a few minutes of glory and 8 years of neck pain," Musk wrote on Sunday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is still talking about that sumo fight he once had, and it sure sounds like battling a trained wrestler did land Musk in a world of hurt. "Had a few minutes of glory and 8 years of neck pain," Musk wrote.

Persons: Elon Musk, he's, Musk, Vladimir Putin, Mark Zuckerberg, — Organizations: Service, SpaceX Locations: Russian

☆ Wealthy Americans are starting to spend more carefully
▼ + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.

Persons: they’ve, “, ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, ”, Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington

☆ 1 in 7 Gen Z credit card users are ‘maxed out’
▼ + stars: | 2024-05-17 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

CNN —Ariel Barnes plunged into a credit card debt spiral in college, and a decade later she’s yet to escape. Barnes, a manager of gift processing at Jackson State University, has maxed out seven credit cards and is struggling to make minimum payments on $30,000 of credit card debt. Roughly one in seven (15.3%) Gen Z credit card borrowers have maxed out their credit cards, according to new research from the Federal Reserve Bank of New York. For instance, the median Gen Z borrower’s credit limit is just $4,500, compared with $16,300 for Millennials and $21,800 for Gen X, the NY Fed said. There’s never a good time to carry a credit card balance, but right now is arguably the worst time.

Persons: CNN — Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, ”, “ I’ve, Zers, Ted Rossman, Gregory Daco, ” Daco, haven’t, X, it’s, There’s, That’s, Daco, CNN’s Alicia Wallace Organizations: CNN, Jackson State University, Federal Reserve Bank of New, Fed, NY Fed, Bankrate.com, Wall, NY, Federal Locations: Jackson , Mississippi, Federal Reserve Bank of New York

☆ Amazon's appearance at Upfronts highlights push beyond digital ads and into traditional media
▼ + stars: | 2024-05-15 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

But it's no longer just about digital ad dollars, and Amazon's inaugural presence at this year's Upfronts events is the clearest indication that the e-commerce giant is prepared to take on traditional media. Amazon's Prime Video and other streamers would historically be featured at Newfronts, which is digital media's take on Upfronts. This year, they're projected to spend roughly $18.8 billion on traditional TV ads during Upfronts, an increase of 1% from a year earlier, according to eMarketer. 1 question all of you asked was, 'When are you going to show ads on Prime Video?'" He showed how the business has evolved to include digital video ads on Prime Video.

Persons: they're, Cowen, Alan Moss, we've, Reese Witherspoon, Jake Gyllenhaal, Paul Kotas, We've, Kotas, we're, — CNBC's Lillian Rizzo, Alex Sherman Organizations: Meta, Google, Amazon, Disney, Comcast, Netflix, Google's YouTube, Prime, Revenue, National Football League, CNBC Locations: Amazon, U.S

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