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☆ It's refinancing time: Americans are already capitalizing on lower rates
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Mortgage Bankers Association's refinancing index jumped 20.3% last week to its highest in two years. That comes as the 30-year fixed mortgage rate dipped 2 basis points to 6.13% last week. Mortgage rates have fallen recently amid Federal Reserve easing and expectations for further rate cuts. Go to newsletter preferences Thanks for signing up! The surge in refinancing activity comes as mortgage rates fall as the market prices in expected easing from the Federal Reserve.

Persons: — Organizations: Mortgage, Reserve, Service, Fed, Federal Reserve, Business

☆ Barbara Corcoran secretly cared for her mother with Alzheimer's for years. She was waiting for her own dementia risk before speaking out.
▼ + stars: | 2024-09-26 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

Corcoran's mother, Florence, was diagnosed with Alzheimer's in her late 60s. About eight months ago, Corcoran finally saw a doctor to evaluate her own risk for dementia. There, Corcoran loved watching the systems at Florence created to keep the home and the children organized. Advertisement"I was admiring her with the systems," Corcoran said. Corcoran paid one of her sisters — who lived nearest Florence — to quit her job and become their mother's caretaker.

Persons: Alzheimer's, Corcoran, —, Barbara Corcoran, Florence —, Florence, It's, I, Corcoran's, she's, You've, Cocoran Organizations: Service Locations: Florence, Edgewater , New Jersey, Brooklyn

☆ Newsmax faces ‘bet-your-company’ defamation trial over 2020 election lies
▼ + stars: | 2024-09-26 | by ( Marshall Cohen | ) edition.cnn.com time to read: +8 min

Washington CNN —Jury selection is set to begin Thursday in a closely watched defamation trial pitting voting technology company Smartmatic against the right-wing cable network Newsmax, in a high-stakes case over the airing of false 2020 election claims. The Newsmax case revolves around the same false claims, championed by former President Donald Trump and his Republican allies, that the 2020 election was rigged by Smartmatic software and others. The Florida-based company sued Newsmax and other right-wing outlets and figures in 2021, alleging that its reputation was destroyed by the lies. The Newsmax case will test the legal limits of publishing lies about the 2020 election, and the trial will play out during the final stretch of the 2024 campaign. ‘Dozens’ of defamatory reportsAfter mainstream news outlets – and even Fox News – projected that Democratic nominee Joe Biden would win the 2020 election, Trump and his surrogates falsely claimed that he won.

Persons: Donald Trump, Newsmax, “, ”, ” Howard Cooper, Eric Davis, Davis, it’s, Katie Townsend, Smartmatic, Joe Biden, Trump, Chris Ruddy, Biden, wasn’t, Sidney Powell, ” Sidney Powell, Rudy Giuliani, Sarah Silbiger, Greg Kelly, Powell, Chris Salcedo, Smartmatic “, John Bachman, Smartmatic’s, Bachman, Liz Harrington, Ruddy, Kelly, Salcedo, Eric Robinson, ” Newsmax, Bill Daddi, ” Smartmatic’s, Erik Connolly, “ …, Bob Sellers, Emerald Robinson Organizations: Washington CNN, Delaware Superior Court, Fox News, Voting Systems, Republican, Trump, Freedom, Press, Fox, Democratic, The Washington Post, Republican National Committee, ”, Newsmax, University of South, Electoral College ” Locations: Delaware Superior, The Florida, Wilmington , Delaware, New York, Los Angeles County, University of South Carolina, Philippines, Venezuela

☆ Stock market today: Indexes rally on China stimulus, promising labor-market data
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied Thursday on positive jobs data and promises of further economic stimulus in China. AdvertisementUS stocks rallied on Thursday, fueled by China stimulus measures and positive jobs data to pare losses from yesterday. The indexes rallied after leaders in China pledged to support the economy with more strong policy measures. The indexes' gains were also fueled by positive labor market data. Meanwhile, second-quarter GDP came in unrevised at a 3% annualized rate, according to data released Thursday.

Persons: —, Eric Jackson, SocGen Organizations: Service, Labor Department, Federal Reserve Locations: China, unrevised

☆ Universal basic income pros and cons —according to experts
▼ + stars: | 2024-09-26 | by ( Allie Kelly | ) www.businessinsider.com time to read: +13 min

BI broke down the pros, cons, and frequently asked questions about basic income. Universal basic income and guaranteed basic income could fill gaps in the existing US social safety net, experts said. A benefit of basic income is the element of choice, according to Shafeka Hashash, associate director of guaranteed income at the Economic Security Project. Private donors often fully or partially fund basic income programs, lessening the cost burden on local governments. US states with active basic income programs include California, Illinois, Colorado, New York, Georgia, Louisiana, and more.

Persons: —, Melvin Carter, Paul, Shafeka Hashash, Hashash, It's, John Gillette, Oscar Wong, UBI, Andrew Yang, Howlette, hasn't, Michael Tubbs, Allan Baxter, What's, Sam Altman, Elon Musk Organizations: Service, Business, St, SDI, SNAP, Economic Security, Arizona, Rep, American, Orleans Mayor's, Youth, University of British Columbia, Alaska Permanent Fund, Tech Locations: Valley, America, Los Angeles and Illinois, Texas, Missouri, Arizona , Iowa, South Dakota, Orleans, Denver, Atlanta, Alaska, California , Illinois, Colorado , New York , Georgia, Louisiana, Canada, Brazil, China, Germany, India, Iran, Ireland, California, New Mexico, Oregon

☆ Stock market today: S&P 500 notches fresh record on labor-market data and China stimulus pledge
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

The S&P 500 notched a new record on Thursday amid encouraging labor-market data and China stimulus. Go to newsletter preferences Thanks for signing up! AdvertisementUS stocks climbed on Thursday amid positive economic data and promises from China to roll out further stimulus measures. The S&P 500 notched a fresh record. Thursday's gains were also fueled by a pledge from Beijing to support China's economy with further stimulus measures, just days after the country unveiled a blitz of policies to reinvigorate its sluggish economy and real-estate market.

Persons: — Organizations: Micron, Service Locations: China, Beijing, Here's, Russia, Russia's

☆ Sean ‘Diddy’ Combs wants to testify at his trial, lawyer says: ‘I don’t know that I can keep him off the stand’
▼ + stars: | 2024-09-26 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +4 min

CNN —Sean “Diddy” Combs wants to testify at his criminal trial for charges of sex trafficking and racketeering, according to his attorney. He is very eager to tell his story,” the embattled rap mogul’s attorney Marc Agnifilo said in an interview for a new TMZ documentary. When contacted by CNN, a representative for Combs declined to elaborate on Agnifilo’s comments or say whether Combs will, in fact, take the stand. Asked by TMZ about video of Combs, Agnifilo said that if Combs testifies, he would explain his actions in the video. And I’m not really sure what the baby oil has to do with anything,” Agnifilo said in his interview with TMZ.

Persons: Sean “ Diddy ” Combs, “, Marc Agnifilo, Combs, Cassie Ventura, Agnifilo, ” Agnifilo, Combs “, ”, Agnifilio, Kaitlan Collins, ” Combs, R, Kelly, “ Pharma Bro ” Martin Shkreli, Ghislaine Maxwell, Sam Bankman, Juan Orlando Hernandez Organizations: CNN, TMZ, Prosecutors, ” Prosecutors, Southern, of, Costco, Metropolitan Detention, “ Pharma, MDC Locations: Los Angeles, of New York, New York, Honduras

WASHINGTON — The U.S. Secret Service recently notified Vice President Kamala Harris’ office about an incident involving one of its agents and a “misconduct allegation,” according to spokespeople for both the USSS and the vice president's office. “The U.S. Secret Service Office of Professional Responsibility is investigating a misconduct allegation involving an employee," an agency spokesperson said. "The Secret Service holds its personnel to the highest standards. "Senior OVP officials were alerted by the USSS about an incident involving an agent and informed that USSS initiated an investigation. The Office of the Vice President will not be releasing further information.”Real Clear Politics reported earlier on Wednesday that a Secret Service agent is accused of sexually assaulting a Harris staffer in Green Bay, Wisconsin.

Persons: WASHINGTON, Kamala Harris, Harris, ” Harris, USSS, groping Organizations: Secret Service, Service, Clear Politics, Secret, NBC News Locations: The, Green Bay , Wisconsin

☆ Fall is here, but experts say communities need a heat plan
▼ + stars: | 2024-09-25 | by ( Lolita Lopez | Nbc Los Angeles | ) www.nbcnews.com time to read: +3 min

Heat is the leading cause of climate-related deaths in the country, but knowing how deadly it is? A study from Texas A&M, however, projects the actual number could be four times greater, with approximately 11,000 Americans dying from extreme heat last year. A new pilot program in California is in the works to create a revamped heat warning system. Turner says we can get a better understanding of how extreme heat is affecting us as it’s happening, which could create more immediate heat protocols to protect people at home, at schools and at work. Los Angeles, which has its own Heat Officer, and Los Angeles County are expected to soon release Heat Action Plans.

Persons: ” V, Kelly Turner, Turner, ” Turner, Jennifer Vanos, ” Organizations: Disease, Urban Planning, UCLA, Luskin Center for Innovation, School of Sustainability, Arizona State University, Extreme, Resilience, NOAA Locations: California, Texas, Los Angeles, Los Angeles County, United States

The speech will tie together various themes of the Harris campaign, including her own biography and how it defines her economic vision. Harris plans to describe her economic vision as “pragmatic” and not “bound by ideology,” the official said. Not those who mop the floors,” Harris plans to say. “I’m going to be giving a speech this week that is really to outline my vision for the economy,” Harris told reporters Sunday. “According to our recent polling, Black voters’ economic priorities include reducing costs and increasing wealth.

Persons: Kamala Harris, Donald Trump’s, Harris, ”, Trump, Donald Trump, ” Harris, Joe Biden, It’s, “ I’m, you’ve, I’ve, “, ” Terrance Woodbury Organizations: PITTSBURGH, Democratic, NBC News, NBC, Biden, HIT, Black Locations: Pennsylvania, Michigan, Wisconsin, Nevada, Pittsburgh

☆ Apartment rents are down and supply is up 170% in Buenos Aires since Argentina scrapped all rental regulations
▼ + stars: | 2024-09-25 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Buenos Aires is seeing apartment rents down 40% and supply up over 170%, the WSJ reported this week. The controls limited annual rent increases, causing landlords to leave units empty or hike up initial lease prices. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since last October, rents have fallen 40% and supply has skyrocketed over 170%, according to The Wall Street Journal.

Persons: — Organizations: Service, Wall Street, Business Locations: Buenos Aires, Argentina

☆ I had $1 million in the bank at 36. When I turned 40, I vowed to pursue my passions instead of running a billion-dollar company.
▼ + stars: | 2024-09-25 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. After graduation I was hired by McKinsey & Company, a management consulting firm, where I was a business analyst. I traveled the globe as an exec, but returned home for the Renaissance fair every yearI first went to a Renaissance faire on a middle school field trip. Courtesy of George ApplingFrom 2015 to 2018 I had a foot in both worlds: running the faire while also launching a tech company. But the most important thing to me is the joy that the faire and its summer camp bring to people.

Persons: —, George Appling, I'd, Sherwood, I've Organizations: Service, Texas, Business, McKinsey & Company, Harvard, Texas Renaissance, Mobile World Locations: Texas, Australia, England, Russia, Sherwood, Austin, Barcelona

☆ How Austin, Texas Cut Home Prices, Built Houses, and Stopped a Crisis
▼ + stars: | 2024-09-25 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

But as other pandemic Zoomtowns continue to see increases in prices and rents, Austin stands alone in its change of fortune. Housing in Austin has been through so many extreme distortions that nobody really knows what "normal" even means anymore. All told, Austin's housing stock has ballooned by more than 76,000 units since 2020, an 8.34% increase that includes single-family homes, condos, and townhomes. Considering the size of the Austin market, moving the stock of homes by nearly 10% is a colossal feat. Related storiesNobody watching the Austin market should be having flashbacks to the Great Recession.

Persons: Austin, homebuyers, homebuilders, Zillow, Elon Musk, Joe Rogan, Homebuyers, Keith Hughes, I'd, That's, Jason Lewris, Lewris, Doreen Sidney, Austin wasn't, Austin's homebuilders, Freddie, Sean Kelly, Rand, Freddie Mac, Jenny Schuetz, homebuilding, Kelly, he's Organizations: Austin, Oracle, Facebook, Google, Elon, Census, Parcl Labs, Federal Reserve, San Antonio —, Austin ., Freddie Mac, Brookings Institution Locations: California, Austin, Real, Texas, Francisco, San Francisco, San Antonio, Boston

☆ Another unforced error by Boeing is souring the new boss’ good vibes
▼ + stars: | 2024-09-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Less than two months into his tenure as CEO, Ortberg has largely understood the assignment. See here: We’re nearly two weeks into a strike by Boeing’s largest labor union. Initially, Ortberg seemed to have buy-in from labor leaders, who publicly acknowledged that the new boss was walking into a conflict that predated him by 16 years. All of that gave the new boss, who spent his first day at work touring a factory floor, a kind of pro-labor halo. “This tactic is a blatant show of disrespect” to union members and the bargaining process, the International Association of Machinists wrote Monday.

Persons: CNN Business ’, Kelly Ortberg, Ortberg, ’, ”, International Association of Machinists, “, “ We’ve, Wheaton, ” Wheaton, ’ …, ” It’s, it’s, ” Ortberg, It’s, Richard Aboulafia, ” Aboulafia, what’s, …, CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, machinists, International Association of, Cornell University’s School of Industrial and Labor Relations Locations: New York, what’s

☆ Fixing Broken Rungs: Mending the Corporate Ladder
▼ + stars: | 2024-09-25 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFixing Broken Rungs: Mending the Corporate LadderAlthough female workers typically outperform their male counterparts, men are more likely to get promoted. This issue is a major factor in the gender wage gap, which has barely budged in the past 20 years. Professor Kelly Shue shares her research on the gender promotion gap, the biases that contribute to it and how we can address this problem.

Persons: Kelly Shue

☆ A 'gender promotion gap' fuels wealth inequality between men and women, Yale professor says
▼ + stars: | 2024-09-25 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

PeopleImagesProgress toward narrowing the gender pay gap has mostly stalled, in part due to something researchers call the "gender promotion gap." Women are about 13% less likely to be promoted than men, according to Shue's research. That imbalance is a major driver in the persistent income inequality between men and women, she said. About 70% of the gender wage gap is due to women occupying different positions compared to men, according to Shue. But even when men and women occupy the same position, women are paid less, she added.

Persons: Kelly Shue, Shue, Lean Organizations: Yale School of Management, CNBC's, Census, National Women's Law, Lean, McKinsey Locations: America

☆ 2 under-the-radar recession signals are flashing red this month, research firm says
▼ + stars: | 2024-09-25 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The firm's chief global strategist, Peter Berezin, pointed to two low-key labor market indicators flashing warning signals this month. AdvertisementHistorically, that number has always increased in the early stages of a recession, Berezin says. Meanwhile, recent survey data shows a narrowing gap in positive and negative labor market sentiment. On average, the peak in the labor differential comes nine months ahead of a recession, Berezin says. He says the data points to the contrary, with a slowdown in year-over-year labor force growth from 1.9% a year ago to 0.4% in August.

Persons: —, Peter Berezin, Berezin, landers Organizations: Service, BCA Research, Business, Bureau of Labor Statistics, Conference Board

The singer, whose legal name is Casandra Ventura, settled the suit with Combs in a day without disclosing the terms. In addition to Combs, Graves’ suit names Joseph Sherman, who, according to the suit, was known as “Big Joe,” and was for a time, Combs’ bodyguard and head of security. The suit alleges Combs led her to a couch in a private room in the studio, where she lost consciousness. Combs applied lubricant to himself and then raped her as she screamed out in pain, the suit alleges. When she regained consciousness, the suit alleges Sherman slapped her in the face and sexually assaulted her.

Persons: Sean “ Diddy ” Combs, “, ”, Combs, Thalia Graves, Cassie, Casandra Ventura, Graves, Joseph Sherman, Big Joe, Sherman, Plaintiff, hysterically, ” Sherman, Carl Thomas, hasn’t, Gloria Allred, R, ” Graves, Allred, Ventura Organizations: New York City, Bad, Combs Locations: New York, New York City, Queens, Manhattan

The Secret Service is heightening security around former President Donald Trump, an agency official said Monday, following the apparent attempt on his life just two months after an assassination attempt at a campaign rally. “Given recent events, the Secret Service is taking a heightened posture in its protection of the former president,” the official said. The new measures appeared to be visible Monday when Trump got off his plane in Pennsylvania and a Secret Service agent followed closely behind. Federal prosecutors recently charged Ryan Wesley Routh, 58, in connection with an apparent assassination attempt on Trump on Sept. 15. Routh was charged a little more than two months after a gunman in Butler, Pennsylvania, shot Trump in the ear during a campaign rally.

Persons: Donald Trump, ”, Trump, Ryan Wesley Routh, Routh, Win McNamee, Butler Organizations: Service, Federal, Trump Locations: Pennsylvania, West Palm Beach , Florida, Florida, Sprankle's, Kittanning, Pa, Butler , Pennsylvania

☆ China's latest stimulus boosts emerging-market stocks to the highest level in 2 years
▼ + stars: | 2024-09-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

The boost comes shortly after China introduced a swath of new stimulus measures to prop up its sluggish economy and boost domestic demand. AdvertisementThe new stimulus measures also boosted China's CSI 300 of Shanghai- and Shenzhen-listed shares, with the index closing 4.3% higher on Tuesday in its best day in four years. And the Stoxx Europe 600 index climbed as much as 0.9%, led by luxury stocks amid hopes that sluggish Chinese consumer spending will rebound. Yet, some analysts remain wary that China's stimulus measures won't have drastic enough impacts to actually rescue the country from its economic woes. AdvertisementIn recent months, China's economy has struggled to escape weak consumer sentiment and continues to face a struggling property sector.

Persons: —, Yingrui Wang, Goldman Sachs Organizations: Service, Tencent Holdings, Alibaba, Holding, Business, CSI, US Federal Reserve, AXA Investment Locations: Hong Kong, China, Shanghai, Shenzhen, Europe

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight. The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Southwest's shareholder meeting is typically scheduled for May, but by calling for a special meeting Elliott is looking to elect new directors much sooner than that. Earlier this month, executive chairman and former CEO Gary Kelly said he would step down after the carrier's shareholder meeting next year. "The need for change is urgent, and our request for a special meeting may come as soon as next week," Pike and Xu said.

Persons: Elliott, Bob Jordan, Gary Kelly, John Pike, Bobby Xu, Pike, Xu, Andrew Watterson, Robert Jordan Organizations: Elliott Management, Southwest Airlines, Airlines, Aircraft Mechanics Fraternal Association

☆ Diddy and crypto fraudster SBF are sharing a dorm-style room in a Brooklyn jail
▼ + stars: | 2024-09-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Rapper Sean Combs and crypto fraudster Sam Bankman-Fried are sleeping in the same jail dormitory. Combs, known as Diddy, has been in the Brooklyn jail since last week on sex trafficking charges. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCrypto fraudster Sam Bankman-Fried just got a new roommate. Combs has been held at Metropolitan Detention Center for almost a week after being denied bail on federal sex trafficking and racketeering charges.

Persons: Sean Combs, Sam Bankman, Combs, —, Crypto, Fried, Diddy Organizations: Service, Metropolitan Detention Center, Business Locations: Brooklyn

☆ Buying a home just got more affordable for the first time in 4 years
▼ + stars: | 2024-09-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The income homebuyers need to afford the typical home just saw its first annual decline since 2020. That decline comes as mortgage rates have steadily dipped, a Redfin report says. Homebuyers now need an annual income of $115,454 to afford the median priced home of $433,101. That follows years of declining affordability as mortgage rates soared after hitting historic lows in 2020. The 30-year mortgage rate saw its first annual decline in three years last month, falling to 6.5% from 7.07% the year prior.

Persons: —, Homebuyers Organizations: Service, Business

☆ Texas lawsuits keep challenging guaranteed basic income programs, calling no-strings-attached cash 'unconstitutional'
▼ + stars: | 2024-09-24 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Read previewTexas Attorney General Ken Paxton is calling guaranteed basic income "unlawful." This new lawsuit comes after Paxton sued the county in April over another guaranteed basic income pilot called Uplift Harris. Some Texas lawmakers have called guaranteed basic income socialist, or a means to "hand out money like popcorn." Related storiesPaxton's lawsuit could impact the livelihoods of GBI participantsFor many participants, guaranteed basic income is a financial safety net. Have you participated in a guaranteed basic income program?

Persons: —, Ken Paxton, Paxton, Harris, St . Louis, Harris County Attorney Christian D, Menefee, Delwin Sutton, Sutton, Rodney Ellis, Ellis Organizations: Service, Prosperity, Texas Supreme, Business, Attorney's, General's, Texas, Republican, Harris County Attorney, Community Prosperity Locations: Texas, Harris County, Harris, Houston, America, Arizona , South Dakota, Iowa, St .

☆ Boeing sweetens offer to union as strike enters second week
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

The new offer raised pay, reinstated annual bonuses and increased a bonus that would be given upon the contract’s ratification, among other changes, Boeing said on its website. It also doubled the ratification bonus to $6,000, reinstated an annual machinist bonus and raised the company’s 401(k) match. The labor union, the International Association of Machinists and Aerospace Workers, didn’t immediately comment on the offer. Both Boeing and the union said they were disappointed with negotiations last week. The strike came as workers voted 94.6% against the previous proposal that the union had endorsed.

Persons: didn’t, group’s, Kelly Ortberg, Ron Epstein Organizations: Boeing, International Association of Machinists, Aerospace Workers, Bank of America, CNBC Locations: Renton , Washington, Seattle

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