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☆ A safety group graded 14 driver-assistance systems. Tesla's self-driving option was the worst.
▼ + stars: | 2024-03-12 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +4 min

Automated driving systems are lacking in the safety department, according to a new report. Tesla's Full Self Driving system earned the worst marks, but most of the 14 systems tested poorly. Some say that autonomous and assisted driving systems are responsible for fatal crashes. AdvertisementYou may want to think twice before flipping on your autonomous driving system on the highway. The agency tested 14 systems, 11 of which received a "poor" overall safety rating.

Persons: —, David Harkey, Tesla, Ford Organizations: Service, Insurance Institute for Highway Safety, National, Traffic Safety Administration, CNN, Ford, Mercedes, Benz, Nissan, General Motors, Insurance, Google Locations: California, Los Angeles, San Francisco

☆ Layoffs could be coming as debt-laden firms navigate the pain of higher rates, economists say
▼ + stars: | 2024-03-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

That's because aggressive Fed rate hikes haven't been fully felt across the economy. AdvertisementA wave of layoffs could be coming as companies deal with the reality of higher interest rates, economists say. The peak unemployment rate during the Great Recession was 10% in 2009. Following revisions to the prior two months' figures, the unemployment rate also rose to 3.9% in February, its highest level in two years. The unemployment rate is a classic lagging indicator."

Persons: David Rosenberg, —, what's, Steve Briggs, Briggs, Rosenberg Organizations: Service, Rosenberg Research, Briggs, Bureau of Labor Statistics, Fitch

☆ Women CEOs in this island-nation enjoy twice the pay of their male counterparts, lead globally on board representation
▼ + stars: | 2024-03-12 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: 1 min

In 2023, New Zealand had the strongest board representation with more than 40% of female CEOs, according to MSCI. New Zealand is showing the way for women participation in executive roles as well as compensation at a time when the rest of the world suffers from dismal female representation in leadership positions. Women CEOs in New Zealand earned an average salary of $5.9 million, more than twice their male counterparts with an average pay of $2.6 million. This Pacific Island nation had the strongest board representation with more than 40% of female CEOs, according to according to MSCI's latest report. Women held 19% of CFO roles.

Persons: MSCI's, — Organizations: New Zealand Locations: New Zealand, . New Zealand

☆ Opinion: Biden gave the speech of his life
▼ + stars: | 2024-03-08 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +29 min

CNN —CNN Opinion asked political and policy contributors to weigh in on President Joe Biden’s State of the Union address. David Gergen: Biden just rewrote the presidential racePresident Joe Biden not only delivered perhaps the best speech of his life last night; he may have also changed the race itself. Roxanne Jones: Biden finally sounds like he’s ready to fightPresident Joe Biden finally has my attention. At the end of his speech, Biden reminded voters that he “grew up among working people” in Scranton. In his State of the Union speech, Biden had to answer the mail on all of these.

Persons: Joe Biden’s, David Gergen, Biden, Joe Biden, —, Carrie Sheffield, Carrie Sheffield Barry Morgenstein, Donald Trump’s, pandered, Sophia A, Nelson, Trump, Sen, Andrew, ”, Donald Trump, Harris, Daniel McCarthy, Trump President Joe Biden, Daniel McCarthy Biden, Ronald Reagan, Bill Clinton, wasn’t, he’s, haven’t, Cori Bush, Rashida Tlaib, Bernie Sanders, Nikki Haley, Trump couldn’t, Reagan, Roxanne Jones, ” Biden, Smart, Jill Filipovic, Mike Johnson, David A, Vladimir Putin, Putin, ” David A, Benjamin Netanyahu, “, SubStack’s, Paul Sracic, It’s, White, Paul Sracic Arne Hoel It’s, Hillary Clinton, Joe, ” Paul Sracic, Raul A, Reyes, ” Raul A, Marjorie Taylor Greene’s, Laken Riley, Mark Zandi, Mark Zandi Moody's, Ana Marie Cox, Ana Marie Cox Faith Fonseca, Biden’s, Dobbs, Roe, Wade, Peter Bergen, George W, Bush, Vladimir Putin’s, –, beefed, Gazans Organizations: CNN, David Gergen CNN, Union, Harvard Kennedy School, Gallup, NATO, Democratic, Republicans, Trump, Independent Women’s, United States Senate, Biden, Congressional, Trump President, South Carolina Gov, GOP, Republican, Conservative, The Spectator, Syndicate, Big Pharma, Companies, American, Democrats, Twitter, NATO —, Israel, New York Times, CBS News, Democratic Party, United Auto Workers, Youngstown State University, Hudson Institute, Reyes CNN, Border Patrol, Georgia, ” Progressives, Pew Research Center, White, USA, Moody’s Analytics, Ana Marie Cox Faith, Jackson, Peter Bergen CNN, US Senate, New, Arizona State University Locations: Joe Biden’s State, America, United States, State, Gaza, Israel, New York, Ukraine, ”, American, China, Iran, Europe, Asia, Chicago, Scranton , Pennsylvania, Belvidere , Illinois, Scranton, Claymont , Delaware, Delaware, Ohio, Washington , DC, Georgia, Alabama, Austin, Iraq, New America

Former President Donald Trump and his allies on the Republican National Committee want to convince Tesla and SpaceX CEO Elon Musk to speak at the GOP convention in July, people familiar with the matter told CNBC. It is not clear if Trump or his allies have raised the idea with Musk. Musk previously voiced support for the Republican presidential candidacy of Florida Gov. "He said the other day, 'Oh, I've never voted for a Republican,' " Trump said at that rally. Thiel also said in that interview that Trump's presidential administration, which spanned January 2017 to January 2021, was "crazier" and "more dangerous than I thought."

Persons: Trump, Steve Bannon, Donald Trump, Elon Musk, Tesla, Joe Biden, sitdown, Nikki Haley, Trump's, Peter Thiel, Ronna McDaniel, Michael Whatley, Musk, Lara Trump, Biden, Ron DeSantis, Robert F, Kennedy Jr, I've, Musk baselessly, Thiel, Trump . Thiel Organizations: SpaceX, Tesla, Washington , DC, Republican National Committee, GOP, CNBC, Republican, Trump, Super, PayPal, Republican National Convention, RNC, Representatives, Florida Gov, Trump White, Democrats, U.S, Capitol, Truth, Biden, Facebook, Trump . Locations: Washington ,, Milwaukee , Wisconsin, Palm Beach , Florida, Carolina, Florida, United States, Paris, Texas, Georgia

☆ Space company Astra going private to avoid bankruptcy after dismal public run
▼ + stars: | 2024-03-07 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Space company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock. A special committee of the board, with Kemp and London abstaining, voted in favor of the take-private plan. Astra's stock, halted at 85 cents a share near the time of the announcement, closed at 58 cents a share Thursday. The San Francisco-area company, incorporated in 2016, once aimed to mass produce small rockets and conduct launches as often as daily. Since its stock debut, Astra's rockets reached orbit twice – but the company also suffered three launch failures.

Persons: Chris Kemp, Adam London, –, Kemp Organizations: Astra, London, Astra's Locations: San Francisco

☆ Stock pickers did better in 2023, but long-term performance is still dismal
▼ + stars: | 2024-03-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Despite the odds, active managers turned in a better-than-expected performance in 2023, according to a report out today by S & P Global. The bad news: the long-term performance of active managers remained dismal. The majority (60%) of large-cap fund managers underperformed the S & P 500 in 2023, according to S & P Global. While that may not seem like an impressive performance, it is slightly better than the historic average of 64% that underperform the S & P 500. Surprising, because 2023 was a tough year for active managers.

Persons: Dow, Anu Ganti, Dow Jones, Ganti Organizations: P, Dow Jones, U.S, Dow Jones Indices Locations: U.S

☆ Just over half of Americans over the age of 65 are earning under $30,000 a year, and it shows how stark the retirement crisis is
▼ + stars: | 2024-03-04 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Many older Americans are financially vulnerable, with over half living on incomes of $30,000 or less a year. And, as Sanders' report notes, about 10% of older Americans live in poverty, according to an analysis from the Center on Budget and Policy Priorities. Without Social Security income, around 38% of Americans 65 and older would be living below the poverty line. Even so, America's Social Security benefits lag behind many other wealthy countries; benefits amount to, on average, 51.8% of workers' earnings across the OECD. All of that comes as older Americans see their adult children leaning on them financially, as Gen Zers and millennials weather their own economic storms.

Persons: Bernie Sanders, —, Sanders, Zers, I'm, Jane, you'll Organizations: Service, Health, Education, Labor, Wall, Survey, Federal Reserve's Survey, Consumer Finance, Budget, Security, OECD, Social Security Locations: Japan

☆ People love hanging out with friends who they think make less than them
▼ + stars: | 2024-03-04 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

People who believe they have a higher income than their peers are more likely to socialize. AdvertisementPeople who think they have a higher income than their peers are more likely to socialize with them, contributing to greater happiness, new research found. A February NBER working paper found that those with higher perceived relative income increased their time spent with peers. Despite some uncertainty, some evidence suggests those with a higher relative income become more engaged in sports and community events. Changes in spending following from changes in perceived relative income could also drive changes in happiness."

Persons: —, Bernardo Candia Gonzalez, causally, they're Organizations: Service Locations: Netherlands

☆ ‘Dune: Part Two’ Draws Large Audiences
▼ + stars: | 2024-03-03 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +1 min

“Dune: Part Two” and its A-list cast jump-started moviegoing in North America after a dismal start to the year. The science-fiction sequel sold an estimated $81.5 million in tickets in the United States and Canada from Thursday night to Sunday, the biggest opening for a Hollywood film since “Barbie” in July. (Taylor Swift’s concert documentary arrived to $93 million in October.) “Dune: Part Two,” directed by Denis Villeneuve, collected an additional $97 million overseas. But Legendary also needed to sell the film’s more delicate story — a boy becoming a man, a guy falling in love — which would be more difficult without cast interviews.

Persons: Barbie ”, Taylor, ”, Denis Villeneuve, Timothée Chalamet, Austin Butler, Anya, Taylor Joy, Javier Bardem, Josh Brolin, Florence Pugh, baring Organizations: Legendary Entertainment, Warner Bros, London Locations: North America, United States, Canada, Mexico City, London, New York

☆ Ukraine is preparing multiple battle plans for 2024 after last year's leaked straight to Putin, Zelenskyy says
▼ + stars: | 2024-02-26 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Russia had access to leaked battle plans for Ukraine's 2023 counteroffensive, Zelenskyy said. Ukraine is making several plans for this year "because of information leaks," the president said. AdvertisementUkraine is drawing up multiple different battle plans for 2024 because those for the 2023 counteroffensive were leaked ahead of time, President Volodymyr Zelenskyy said on Sunday. "Our counteroffensive action plans were on the Kremlin's table before the counteroffensive actions began," Zelenskyy told a press conference, per Agence France-Presse. Asked whether Ukraine will attempt a counteroffensive in 2024, Zelenskyy said: "We have a plan, a clear plan.

Persons: Zelenskyy, —, Volodymyr Zelenskyy, Russia's Organizations: Service, Agence, Presse, AFP, Radio Free, New York Times Locations: Russia, Ukraine, Agence France, Ukrainian

☆ Hard Lessons Make for Hard Choices 2 Years Into the War in Ukraine
▼ + stars: | 2024-02-24 | by ( Steven Erlanger | David E. Sanger | ) www.nytimes.com time to read: +1 min

Two years after Russia’s invasion of Ukraine, the United States has the capacity to keep Kyiv supplied with the weapons, technology and intelligence to fend off a takeover by Moscow. But Washington is now perceived around Europe to have lost its will. That is the essence of the conundrum facing Ukraine and the NATO allies on the dismal second anniversary of the war. The sanctions that were supposed to bring Russia’s economy to its knees — “the ruble almost is immediately reduced to rubble,” President Biden declared in Warsaw in March 2022 — have lost their sting. Income from oil exports is greater than it was before the invasion.

Persons: Russia’s, Biden, — Organizations: Kyiv, NATO Locations: Ukraine, United States, Moscow, Washington, Europe, Warsaw, Russian

☆ Meet a boomer who unretired to help her Gen Z kids get through college and find stability: 'They're terrified'
▼ + stars: | 2024-02-23 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Like many other parents, Jane said she sees her adult children stuck in an economic predicament that isn't of their own making. "Home prices and rent prices and automobile prices — I don't think that they're aligned with wages in a fair, or in a reasonable, way," Jane said. She wants to get her kids through college and see if they're able to find jobs that are decently paid. But that doesn't mean she's immune to the Sunday scaries: "On those Sunday nights and Monday mornings, I really, really regret it. "I'm hopeful for that, but I'm really not really expecting it," she said.

Persons: Jane, she's, — she's, we're, We're, Jane —, —, they're, it's, Gen Zers, Younger boomers, I'm Organizations: Pew Research Center, Pew Locations: Texas

☆ European markets set to open higher as investors focus on euro zone data, earnings
▼ + stars: | 2024-02-22 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday ahead of a busy day of earnings and data in the region. Preliminary services and manufacturing purchasing managers' index data from the euro zone in February is due Thursday, and will serve as a gauge of business activity in the region. Meanwhile, earnings are due from Nestle, Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Rolls-Royce, WPP, Anglo American and Hargreaves Lansdown. Overnight, Japan's Nikkei hit a record high on Thursday, with investors shrugging off dismal business activity data from the country, while other Asia-Pacific markets traded in the green. S&P 500 futures rose in overnight trading Wednesday, boosted by a jump in Nvidia shares.

Persons: Hargreaves Lansdown, shrugging Organizations: Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Royce, WPP, Nikkei, Nvidia Locations: Nestle, Asia, Pacific

☆ A lost 22-page transcript discovered at the National Archives reveals the secret history of how Abraham Lincoln pardoned Joe Biden's ancestor
▼ + stars: | 2024-02-20 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The shouting match turned physical, and eventually, Robinette injured Alexander with his pocketknife, according to the Post. After a senator from the recently formed state of West Virginia took up the case, Lincoln pardoned Biden's ancestor on September 1, 1864. The area, now in West Virginia, was full of Union supporters and became a key early battleground of the war. He went on to spend one month in the military prison at Fort Jefferson in the Dry Tortugas, near Key West, Florida, before Lincoln pardoned him.

Persons: —, Joe Biden's, Barack Obama, Abraham Lincoln, Biden, Lincoln, Biden's, Moses J, Robinette, John J, Alexander, David Gerleman, he'd, Jane Organizations: Service, Union Army, Washington Post, Post, Business, Army, Potomac, Department, George Mason University, National Archives, Union Locations: splintering, Lincoln, Florida, West Virginia, Maryland, Virginia, Washington ,, Grafton , Virginia, Allegany County , Maryland, Rappahannock, Fort, Key West , Florida

☆ Opinion: The best tribute we can pay to Navalny
▼ + stars: | 2024-02-17 | by ( Opinion Daniel Treisman | ) edition.cnn.com time to read: +7 min

In his courageous and too short life, Navalny became a symbol of hope for the younger generations of his compatriots. Rather than attack Navalny as a political rival, the authorities peddled a concocted image of Navalny as a petty swindler. Navalny’s death will leave a gaping hole at the center of Russia’s opposition movement, already fragmented and scattered across the globe. To Western leaders who have called on Russia to respect human rights, Navalny’s death is an open affront. A year ago, while he was serving his sentence, Navalny called for Russia to withdraw from Ukraine — and pay it compensation — with posts from his Twitter account.

Persons: Daniel Treisman, Sergei Guriev, Alexey Navalny, Putin, ”, Navalny, Navalny’s, ” Putin, Tucker Carlson, Yaroslav the Wise, Novichok, “, Boris Nadezhdin, Joe Biden, “ Putin, —, Sergei Magnitsky, Biden, ” Navalny Organizations: University of California, CNN, Navalny’s, Kremlin, Federal Security Service, Putin, Navalny, Republicans, Ukraine — Locations: Los Angeles, Russia, Soviet Union, Moscow, Russian, Ukrainian, ”, Europe, Ukraine

☆ January Was Awesome for Stock Pickers, but Can They Keep It Going?
▼ + stars: | 2024-02-16 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

Over the last 20 years, stock pickers have had a dismal record. In some periods, stock pickers rule, and the start of this year was one of those times. The S&P 500 and other stock indexes set records during the month. It was that active stock funds did even better, though not by much, beating various market indexes by less than a percentage point, on average. That happened to be the best calendar year for stock pickers in decades.

Organizations: Bank of America

☆ Rishi Sunak Back in Hot Seat After Losses, but His Ouster Is Unlikely
▼ + stars: | 2024-02-16 | by ( Mark Landler | Stephen Castle | ) www.nytimes.com time to read: +1 min

Prime Minister Rishi Sunak of Britain could find himself in a familiar predicament after his Conservative Party went down to defeat in parliamentary elections in two districts on Thursday: isolated, embattled and the subject of whispered plotting by restive Tories bent on pushing him out for a new leader. The crushing loss of two seats in once-reliable Conservative areas capped another dismal week for Mr. Sunak. Economic data confirmed on Thursday that Britain had fallen into recession at the end of last year, undermining one of the prime minister’s five core pledges — that he would recharge the country’s growth. Yet the scheming against Mr. Sunak, analysts said, is no more likely to go anywhere than it has during his previous leadership crises. However desperate the political straits of the Conservatives, they would find it hard, at this late stage, to replace their languishing prime minister with someone else.

Persons: Rishi Sunak, Sunak, Liz Truss, Boris Johnson — Organizations: Conservative Party, Conservatives, Conservative Locations: Britain

☆ The US economy is booming — but Japan and the UK just slipped into recession. Here's why.
▼ + stars: | 2024-02-15 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Two of the world's biggest economies are officially in recession, per new figures published Thursday. Meanwhile, UK growth shrank for the second straight quarter — just months ahead of a key election. Japan and the UK are both officially in recession, according to figures published Thursday, after Gross Domestic Product (GDP) fell for two consecutive quarters to close out 2023. UK: Cost-of-living crisis, weak spendingBritain also got some bad economic news Thursday, as official data showed its economy shrank by 0.3% between October and December — its second straight quarterly contraction. That officially put the UK into recession.

Persons: —, Dow Jones, It's, juicier, Goldman Sachs, Rishi Sunak Organizations: Service, Gross, Dow, Bank of, Britain, Bank of England’s, European Union, Conservatives, Labour Party, Politico Locations: Japan, Germany, China, European

☆ Ole Andreas Halvorsen's Viking Global bought this regional bank in the fourth quarter
▼ + stars: | 2024-02-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite broad concerns surrounding the health of regional banks, Ole Andreas Halvorsen's Viking Global bought into one key name in the sector in the fourth quarter. The move came near the end of a turbulent year for regional banks after the shuttering of Silicon Valley Bank , First Republic Bank and Signature Bank led investors to question the regionals' business model. Shares of U.S. Bancorp climbed more than 30% in the fourth quarter, but the stovck still ended the year down about 1%. The sector took a hit this year following New York Bancorp 's dismal fourth quarter earnings , which showed a loss, a large reserve against weaker future credits and slashed the dividend. Halvorsen went even further and zeroed out stakes in Microsoft and Arm Holdings , the British chip and software designer that went public last September.

Persons: Ole Andreas Halvorsen's, Halvorsen, Julian Robertson, InsiderScore, Lamb Weston Organizations: Ole Andreas Halvorsen's Viking Global, Viking Global, . Bancorp, Silicon Valley Bank, First Republic Bank, Signature Bank, U.S . Bancorp, Regional Banking, New York Bancorp, Viking, Tiger Management, Devices, Microsoft, Arm Holdings, Mastercard, Electric, Colgate, Palmolive Locations: Ole Andreas Halvorsen's Viking, Minneapolis, Silicon, U.S, Deere

☆ The 2024 Met Gala theme has been announced — along with four superstar co-chairs
▼ + stars: | 2024-02-15 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —Fashion’s biggest night of the year is just around the corner, and the Met Gala red carpet theme has finally been announced — along with superstars Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth as this year’s co-chairs. Florals are sure to abound on this year’s red carpet thanks to the theme “The Garden of Time,” but the novel it takes inspiration from has darker undertones. (Pictured above: Rihanna at the 2023 Met Gala.) “One thing I hope this show will activate is that sensorial appreciation of fashion.”The year’s co-chairs — alongside Vogue editor-in-chief, Anna Wintour — include Met Gala mainstays and debuts. The Met Gala theme often vacillates between straightforward retrospectives (such as the event’s 1996 homage to Christian Dior, and the 1997 theme dedicated to Gianni Versace) and more artful, subjective prompts.

Persons: CNN —, Zendaya, Jennifer Lopez, Bad Bunny, Chris Hemsworth, J, Ballard, Princess Aurora, Rihanna, Dimitrios Kambouris, ” Andrew Bolton, Wendy Yu, Anna Wintour —, Hemsworth, Loewe, Jonathan Anderson, Shou Zi Chew, Karl Lagerfeld’s, Christian Dior, Gianni Versace, Count Axel Organizations: CNN, New, Metropolitan Museum of Art, Vogue Locations: British

☆ Trump says Republicans would've won New York's special election if their candidate had supported him more
▼ + stars: | 2024-02-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Democratic former Rep. Tom Suozzi won Tuesday night's special election in New York. As a result, Trump took to Truth Social to insult the GOP's losing candidate, Mazi Pilip. AdvertisementFormer President Donald Trump railed against the GOP's losing candidate in New York's 3rd Congressional District's special election on Tuesday, attributing her loss to not having supported him enough. Democratic former Rep. Tom Suozzi bested Republican candidate Mazi Pilip on Tuesday by just under 8 percentage points, surpassing expectations set from prior polling amid a heavy New York snowstorm. Trump wrote, referring to Pilip being registered to vote as a Democrat for over a decade when chosen as the GOP's nominee.

Persons: Tom Suozzi, Trump, Mazi, —, Donald Trump, Mazi Pilip, Republican Party's, lambasting Pilip, Mazi Melesa, George Santos, MAGA, Santos, Semafor Organizations: Democratic, Rep, Service, New, Republican, Republicans, THE REPUBLICAN, House, New York House Republicans, Base Locations: New York, America, New York's, York, New

Trump is aiming to wrest control of the RNC by muscling Whatley through in an orchestrated ouster of the organization's current chair, Ronna McDaniel. Yet for much of his professional life, Whatley's political sensibilities appeared to align far more closely with the party’s mainstream and corporate establishment. Later, he clerked for a federal judge in North Carolina before departing for Washington as Bush campaigned for the presidency. And a lot of people in North Carolina don’t think he was elected fair,” said Anderson Clayton, chairwoman of the North Carolina Democratic Party. Art Pope, a North Carolina businessman and major conservative donor, said Whatley was well-equipped to lead the organization.

Persons: Michael Whatley, Donald Trump zeroed, Whatley, Trump, George W, Bush, “, ”, John Kane Jr, MAGA, muscling Whatley, Ronna McDaniel, Joe Biden, Sigal Chattah, Whatley's, Jesse Helms, ” Whatley, Sen, Elizabeth Dole, HBW, Anderson Clayton, Pope, Donald Trump's Organizations: WASHINGTON, Republican National Committee, North, North Carolina GOP, longtime Washington, RNC, Trump, McDaniel’s, Watauga High School, Notre Dame, Republicans, Conservative Political, Department of Energy, North Carolina Republican, Patriot, Resources, Keystone XL, U.S, Consumer Energy Alliance, Chevron, ExxonMobil, British Petroleum, North Carolina Republican Party, Republican Party, North Carolina Democratic Party, Democratic National Committee, Republican National Locations: North Carolina, Whatley's, Nevada, Notre, Washington, Broward County , Florida, Bush's, Alberta, Canada, Ohio , Wisconsin, South Carolina, Carolina

CVS, which owns health insurer Aetna, on Wednesday slashed its full-year profit outlook, citing the potential for higher medical costs to bite into its profits. Last month, Humana said it saw an even bigger jump in medical costs in the fourth quarter. Higher medical costs may be a larger problem for Humana than they are for CVS and other insurers. They added that there is no other part of Humana's business that could meaningfully dampen the hit from higher medical costs on the insurance side. Another insurance giant that has been seeing higher medical costs, UnitedHealth Group, also has large health-care services and pharmacy operations that diversify its earnings streams.

Persons: Humana Organizations: CVS, Aetna, Medicare, Elevance, Humana, UBS, UnitedHealth

☆ Opinion: How to solve the nation’s affordable housing crisis
▼ + stars: | 2024-02-12 | by ( Opinion Jim Parrott | Mark Zandi | ) edition.cnn.com time to read: +7 min

Not only has that made mortgages much more expensive, it’s exacerbated the long-standing shortage in housing supply, particularly at the lower-priced part of the market. The market machinery that cranks out housing supply at the bottom of the market has effectively ground to a halt. But falling rates will not solve the underlying structural problems that caused the housing shortfall in the first place. Once rates normalize, housing affordability will simply return to where we were prior to the pandemic, going from dismal to just bad. Lawmakers should complement this support to increase the supply of housing with targeted help for those looking to buy their first home.

Persons: Jim Parrott, Parrott Ryan, Mark Zandi, Jim Parrott Ella Parrott, Mark Zandi Moody's, it’s Organizations: Urban Institute, Moody’s, CNN, National Association of Realtors, Congress

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