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☆ Local impact: The multimillion-dollar payoff to hosting an F1 Grand Prix
▼ + stars: | 2024-11-10 | by ( ) www.cnbc.com time to read: +1 min

The most financially successful event to date was the first-ever Grand Prix in Las Vegas, which generated close to $1.5 billion in economic value, according to local officials. But communities had been feeling F1's local impact even before it broke into the United States. The Australian Grand Prix's economic impact came in around 266 million Australian dollars ($180 million) in 2023, according to EY. "We think it provides enormous economic impact to the state of Victoria and to Melburnians," he added. From Melbourne and Monaco to Abu Dhabi and Silverstone, learn more about F1's local impact by watching the video above.

Persons: Stuart Pringle, Pringle, CNBC's, Travis Auld Organizations: Silverstone Circuit, Formula, Grand Prix Corporation, Silverstone Locations: Las Vegas, United States, Britain, British, Melbourne, Australia, Victoria, Monaco, Abu Dhabi

☆ 'Animal spirits': 7 market strategists share how to ride the red wave as US stocks surge to new records
▼ + stars: | 2024-11-10 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Here are eight top places to invest, based on insights from seven market strategists. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A robust, multi-year bull market rally for US stocks reached another gear after the businessman-turned-politician won the presidential election. Traders are convinced that the bulk of Trump's economic policies, which include tax cuts and fewer government regulations, will create a business-friendly backdrop that drives stocks higher. AdvertisementThe world is awash with cash, making scarce assets like gold and bitcoin more valuable, and Thorne also noted that global economic growth is slowing.

Persons: Donald Trump's, —, Donald Trump, David Bahnsen, Kamala Harris, Jeff Schulze, John Maynard Keynes, Anthony Saglimbene, Keynes, Schulze, Saglimbene, Jim Baird, Plante, Sébastien, Rowe Price, Page, Sean Gallagher, Gallagher, Ameriprise, Bahnsen, Jim Thorne, who's, Thorne, Trump Organizations: Investors, Service, Business, Street Global Advisors, ClearBridge Investments, Trump, Financial, Tech, Federal Trade Commission Locations: Trump's, ClearBridge, Canada, Wellington, Altus

The Summary A patch of snow in Scotland known for lingering year-round has melted for the fourth consecutive year. Such snow patches can act as harbingers of the broader consequences of climate change. A patch of snow in the Scottish Highlands dubbed the Sphinx typically lingers year-round, staying frozen through the summer. “It’s always been about trying to get that the right balance, to make sure that nature and people can thrive in the national park,” Moir said. We are now looking at an epoch where patches of snow are possibly going to be only occasional survivors.”

Persons: It's, ”, Grant Moir, Moir, ” Moir, “ We’ve, we’ve, “ It’s, Iain Cameron, Scottish Snow Hunter, Cameron, “ Organizations: Scottish Highlands, Park Authority, ” Records, Climate, Scottish, Royal Meteorological Locations: Scotland, Scottish, Braeriach, Great Britain, Scotland’s

☆ A real-estate investor explains how he got a 2.75% mortgage amid 7% rates
▼ + stars: | 2024-11-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Michael Hyun used creative financing to buy a home amid high mortgage rates in 2023. A provision in the mortgage contract called the due-on-sale clause makes this approach risky. But they had one advantage: Eileen was a real-estate agent, which qualified her as a real-estate professional under tax law. There, he found wholesalers, middlemen that buy property under contract to sell the contracts and transfer the property to the buyer. So, instead of going into foreclosure, they sold it to Hyun and transferred the mortgage, which had a balance owed of $368,486 at a 2.75% mortgage rate.

Persons: Michael Hyun, —, Eileen, Hyun, homeownership, Pace Organizations: Service, Business Locations: Texas

☆ A man who paid $200.57 for a night at a famous NYC hotel and then lived there rent-free for years is unfit to stand trial, court says
▼ + stars: | 2024-11-09 | by ( Alcynna Lloyd | Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Mickey Barreto lived in the New Yorker Hotel for free for years before his recent arrest. AdvertisementDoctors say a man who had lived inside the iconic New Yorker Hotel for free for more than half a decade is unfit to stand trial. Mickey Barreto lived in the New Yorker Hotel for years without paying a single cent in rent. In June 2018, Barreto and his partner, Matthew Hannan, stayed in room 2565 at the New Yorker Hotel for one night and paid $200.57. Although a judge ordered him to stop representing himself as the owner of the hotel, Barreto continued to live there for free.

Persons: Mickey Barreto, Barreto, Doctors, —, Cori Weston, Weston, Brian Hutchinson, Hutchinson, Alvin Bragg's, Matthew Hannan Organizations: New Yorker, Service, Manhattan District, New York Times, Times, Addiction, Mount, Business, Associated Press, Holy Spirit Association, Department of Environmental, Unification Locations: , New York, Mount Sinai, Hutchinson, Barreto's

☆ Flight attendants on Home Depot cofounder's private jets say they were overworked and not paid overtime
▼ + stars: | 2024-11-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Home Depot cofounder Arthur Blank's family office is being sued by two private jet flight attendants. They say they were overworked, and that Blank's family office "falsified time records." The plaintiffs say their employment status was misclassified, and they weren't paid overtime they were due. AdvertisementTwo private jet flight attendants have sued The Home Depot cofounder Arthur M. Blank's family office, alleging they were overworked and not paid overtime. It also says the family office "falsified time records" to suggest the plaintiffs had eight days off.

Persons: Arthur Blank's, —, Arthur M, Adele Pearson, Samantha Carlisle, Blank's, Pearson, Blank, AMBFO Organizations: Service, Home, Fair Labor, Blank, Business, Court, Northern, Northern District of, Atlanta Falcons, Forbes, Data, Bombardier Global Express, Bombardier Global, Carlisle, Lawyers Locations: Northern District, Northern District of Georgia, Atlanta

As President-elect Donald Trump doubles down on his mass deportation plan, some Republicans are trying to assuage fears amid growing questions of who will be forced out of the country. The prospect of mass deportations is generating fear and apprehension among families with noncitizen members and businesses that employ undocumented workers. The president-elect has also said he would withhold federal grants to police that don’t cooperate in his mass deportation plan as well as use the National Guard to carry it out. But not long ago, some Republicans have resisted Democratic administrations' attempts to prioritize certain immigrants over others for deportation. “If he deports violent criminals, gang leaders and drug leaders, people who committed violent crimes like rape or murder, isn’t that mass deportation?” Muniz asked.

Persons: Donald Trump, Trump, “ It’s, they’re, —, Joe Biden's, “, Maria Elvira Salazar, Salazar didn't, Sen, Marco Rubio, Obama, Biden, ” Trump, noncitizens, Greg Abbott, Salazar, Rubio, Abbott, Artemio Muniz, Muniz, ”, ” Muniz Organizations: NBC News, Time, Florida Republican, Miami, GOP, NBC, Center, Administrations, Department of Homeland Security, National Guard, Texas Gov, Trump, Customs, Democratic, DHS, Supreme, Federation of Hispanic Republicans, Texas GOP, Republican Locations: Trump, U.S, Florida, Dade, “, United States, Texas, Louisiana

A cadre of blue-state governors is already preparing a litany of political and legal moves to shield their states’ policies and residents from federal actions under Donald Trump's new administration. In California, Gov. A spokesperson for Trump didn’t immediately respond to questions about how Democratic governors are responding to his return to the White House. Phil Murphy pledged to both push back against Trump when necessary, while also seeking out areas for compromise. “If it’s contrary to our values, we will fight to the death,” Murphy said at a Wednesday press conference, mentioning issues such as immigration and reproductive rights.

Persons: Donald Trump's, Gavin Newsom, ” Newsom, ”, Trump, “, —, “ Trump, Newsom, Gavin Newscum ”, ’, JB Pritzker, Illinoisans, ” Pritzker, Pritzker, Anne Caprara, “ We’re, ” Caprara, we’ve, Kathy Hochul, Letitia James, “ I’m, ” Hochul, Maura Healey, ” Healey, Trump’s, Healey, Josh Shapiro, ” Shapiro, William Penn, Phil Murphy, ” Murphy Organizations: Democratic, Trump, Gov, state’s Justice, Associated Press, ’ ”, America, ” New York Gov, Initiative, New, Massachusetts Gov, MSNBC, Pennsylvania Gov Locations: In California, California, ’ ” Illinois, Illinois, Covid, Massachusetts, Pennsylvania, California , New York, Commonwealth, New Jersey

By December 2, 2024, the Government shall file a status report indicating its proposed course for this case going forward," the judge wrote. Trump was indicted in the case in August 2023, but significant delays have kept it from going to trial. He's tentatively scheduled to be sentenced in the New York case on Nov. 26 after he was convicted earlier this year on 34 counts of falsifying business records, a low-level felony. The Georgia election interference case has been on hold as Trump and some of his co-defendants are asking an appeals court to remove the prosecutor in the case because of conflict of interest allegations. Trump has denied any wrongdoing in the Georgia case as well.

Persons: WASHINGTON, Donald, Jack Smith, Smith, Tanya Chutkan, Trump, ” Trump, He's, Juan Merchan, Letitia James, E, Jean Carroll Organizations: U.S, Department, DOJ, Trump, NBC News, NBC, New York Locations: Florida, New York, Georgia, York, New

☆ Study maps how nonprofit religious groups set up facilities near abortion clinics
▼ + stars: | 2024-11-08 | by ( Abigail Brooks | Abigail Brooks Is A Producer For Nbc News. | ) www.nbcnews.com time to read: +14 min

While crisis pregnancy centers’ pattern of locating near abortion facilities is well documented, the new research, published in the peer-reviewed Journal of Medical Internet Research, maps women’s geographic access to both crisis pregnancy centers and abortion facilities. The new study found that in 2021, crisis pregnancy centers outnumbered abortion clinics 3-to-1 in the U.S., but acknowledged that the figure is probably greater now post-Dobbs. On average, the distance between crisis pregnancy centers and abortion facilities in the U.S. was 5.5 miles. Abortion clinics offer other health careAbortion-rights advocates say that when communities lose abortion clinics, they also lose access to other health care services for women. Crisis pregnancy centers outnumber abortion clinics 9 to 1 in Texas, according to the crisis pregnancy center study.

Persons: ”, Christina Villarreal, Mary Jane Maharry, “, ” Brian Westbrook, Dobbs, Andrea Swartzendruber, Danielle Lambert, ” Swartzendruber, Lambert, CPCs, ’, Swartzendruber, ” Lambert, “ They’re, you’re, Andrea Trudden, Roe, Ashley Underwood, “ We’re, couldn’t, ” Underwood, Wade, Nikki Madsen, we’ve, ” Madsen, they’ve, We’re, Donald Trump’s, Biden Organizations: Parenthood Health Center, Southwest Missouri, Coalition Life, NBC News, Medical Internet Research, “, University of Georgia College of Public Health, American College of Obstetricians, CPC, Communications, Heartbeat, United States, Equity, NBC, National Abortion Federation, Abortion Care Network, X, Obria Locations: Carbondale , Illinois, Illinois, Flossmoor , Illinois, Louis Region, Southwest, Fairview Heights , Illinois, Missouri, U.S, United, Louisiana, Florida , Missouri, North Carolina , Tennessee, Texas

☆ Husband of missing San Antonio mom is charged with her murder
▼ + stars: | 2024-11-08 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

The husband of a San Antonio woman who has been missing for a month has been charged with murder. Brad Simpson is charged in the death of Suzanne Simpson, a 51-year-old mother of four who was last seen outside her San Antonio home on Oct. 7 by her neighbor, officials have said. Authorities have not publicly announced that Suzanne Simpson's body has been found. No one with the county’s public defender’s office, which was representing Simpson, could be immediately reached for comment Thursday night. He is accused of unlawfully possessing a short-barrel rifle that was not registered to him, according to the complaint.

Persons: Brad Simpson, Suzanne Simpson, San Antonio, Suzanne Simpson's, Simpson Organizations: San, The Texas Department of Public, Authorities, NBC, WOAI Locations: San Antonio

☆ Drought plagues majority of Northeast as dry, windy weather raises fire risk
▼ + stars: | 2024-11-08 | by ( Denise Chow | ) www.cnbc.com time to read: +4 min

Several homes were evacuated as a wildfire spread through the Colliers Mills Wildfire Management Area in Ocean County, New Jersey. Lokman Vural Elibol/ | Anadolu | Getty ImagesDry and unseasonably warm conditions in the Northeast have plunged much of the region into drought, fueling wildfires in New Jersey, Connecticut and Massachusetts. "To have such persistent periods of really intense drought conditions is not very common." The Drought Monitor's latest map, released Thursday, showed drought conditions expanding from Virginia, Pennsylvania and New York up into Massachusetts and Maine. Dry conditions have intensified in some states, with parts of New Jersey, Pennsylvania, West Virginia and Maryland now in "extreme" drought.

Persons: Lokman Vural, Benjamin Cook, Lamont, Brian Fuchs, " Fuchs, Fuchs, rainier Organizations: Colliers, Management, Anadolu, Getty, National Oceanic, Atmospheric Administration, Regional Climate Center, D.C, U.S . Drought Monitor, University of Nebraska, U.S, Drought Monitor Locations: Ocean County , New Jersey, New Jersey , Connecticut, Massachusetts, U.S, Philadelphia, Newark , New Jersey, Wilmington , Delaware, Norfolk , Virginia, Washington, Palisades , New York, Virginia , Pennsylvania, New York, Maine, New Jersey , Pennsylvania, West Virginia, Maryland, Lincoln, New York , New Jersey, Pennsylvania, Great Lakes, Northeast

☆ Notre-Dame’s bells ring out for the first time since the devastating 2019 fire
▼ + stars: | 2024-11-08 | by ( Rosa Rahimi | Caroline Baum | ) edition.cnn.com time to read: +3 min

On Friday morning, eight of the cathedral’s bells tolled for the first time since April 2019, according to Alexandre Gougeon, who managed their installation. “Hearing the bells ring this morning was very moving,” Gougeon told CNN, adding that the project to install the bells had taken a year and a half. Three new bells were also presented to the public and installed in the cathedral on Thursday. A worker installs the clapper onto "Marcel," one of the eight bells of Notre-Dame's north belfry in September. Ed Jones/AFP/Getty ImagesIn 2019, the 850-year-old building was engulfed by a devastating blaze, which burned for several hours.

Persons: Alexandre Gougeon, ” Gougeon, Notre Dame, “, ” Tony Estanguet, ”, Olivier Ribadeau Dumas, Marcel, Ed Jones, Hubert Hitier, Emmanuel Macron, Philippe Jost, ” Jost Organizations: CNN, Notre, Dame, Paris, Stade de France, Notre Dame, BFM, Getty, UNESCO, Heritage, RTL, “ Locations: Paris, Notre, French, “, AFP, Seine

☆ European markets expected to open in mixed territory after Fed, Bank of England cut interest rates
▼ + stars: | 2024-11-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Skyscrapers on the skyline in the financial district of Frankfurt, Germany, on Monday, Nov. 4, 2024. European markets were expected to open in mixed territory on Friday, as investors awaited corporate results and reacted to quarter-point interest rate cuts from the U.S. Federal Reserve and Bank of England. It comes as market participants continue to take in political upheaval in Germany and Donald Trump's historic presidential election victory this week. Elsewhere, Asia-Pacific markets were mixed on Friday, with investors closely monitoring the final day of China's National People's Congress, which is expected to announce fiscal stimulus measures. On Wall Street, U.S. stock futures gained marginally after the S&P 500 and Nasdaq Composite notched fresh records in a post-election rally.

Persons: Germany's DAX, Donald Trump's, Chancellor Olaf Scholz, Christian Linder, Scholz Organizations: U.S . Federal Reserve, Bank of England, France's CAC, IG, People's Congress, Nasdaq Locations: Frankfurt, Germany, Asia, Pacific, U.S

☆ The best writing online about why Trump won, why Harris lost, and what it all means
▼ + stars: | 2024-11-08 | by ( Theron Mohamed | Erin Snodgrass | ) www.businessinsider.com time to read: +20 min

Commentators and academics have been weighing in on why Donald Trump won the US election. The images of him bleeding after a failed assassination attempt became the symbol of what supporters saw as a campaign of destinyHow Mr. Trump won is also the story of how Ms. Harris lost. Laurel Duggan, UnHerdWhy white women stuck with TrumpAdvertisementThe abortion issue had seemingly little impact on Republicans's performance with white women in this cycle. Nate Silver, founder of FiveThirtyEight and author of the Silver Bulletin newsletterSilver republished a lengthy blog post from late October with the new title "24 reasons that Trump won." Nate Silver offered up 24 reasons why Trump won.

Persons: Donald Trump, —, There's, Donald Trump's, They've, Kamala Harris, Frank Bruni, Let's, Harris, aren't, Hannibal Lecter, Trump, Allysia Finley, Taylor Swift, Taylor, Swift, they'd, I'd, Sarah Baxter, Mueller, Francis Fukuyama, Ankush Khardori, Politico Trump, Shane Goldmacher, Maggie Haberman, Jonathan Swan, MAGA, Biden's, John Burn, Alexandra Ulmer, Gram Slattery, Elon Musk, Jim VandeHei, Mike Allen, Axios, David Weigel, Annie Lowrey, Biden, Gerard Baker, Hitler, Laurel Duggan, UnHerd, Sen, Chuck Schumer, Todd Landman, Evan Vucci Steve Hanke, Ronald Reagan, Steve Hanke, Reagan, Steve Hanke Nate Cohn, Tina Fordham, Trump's, Nate Silver, FiveThirtyEight, AP Matthew Yglesias, Yglesias, overperform electorally, Dominic Sandbrook, Sandbrook, Hillary Clinton, Tom Williams, Eric Cortellessa, Musk, Eric Cortellessa's Organizations: Service, Democratic, The New York Times Democrats, Trump, Street, Democrats Get, demeaned, Democrats, Financial, Republican, Biden, The New York Times, Trump Won, Republican Party, Britain's, Reuters Trump, White, Republicans —, Trump Republicans, Semafor, The Atlantic Voters, The, Democrat, Republicans, University of Nottingham, AP, Johns Hopkins University, Silver Locations: Trump, Ukraine, White, London, Florida, South Dakota, Arizona, Pennsylvania, Philadelphia, Ohio, Illinois, Wisconsin, Washington, New York City, San Francisco, Israel, California

☆ Amy Coney Barrett: Meet the last best hope for Supreme Court liberals
▼ + stars: | 2024-11-08 | by ( Joan Biskupic | ) edition.cnn.com time to read: +19 min

CNN —Supreme Court Justice Amy Coney Barrett stands apart. And that is why Barrett has become the best hope for what remains of the liberal wing, particularly after Trump’s election victory. As Trump returns to the White House, the Supreme Court may be even more positioned to check the balance of powers. Nonetheless, progressives have few options, and an uncertain horizon, and cannot help but imbue Barrett with hope. “As Justice Barrett said…,” is a common Kagan refrain, too.

Persons: Amy Coney Barrett, Donald Trump’s, Barrett, Trump, imbue Barrett, Sandra Day O’Connor, Reagan, Anthony Kennedy, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Barrett homed, Sotomayor, …, Kagan, Kagan interjected, “, Richard Glossip, Brett Kavanaugh, Thomas, Roberts, Kavanaugh, Adam Feldman, Jake Truscott, Republican centrists O’Connor, Kennedy, Lewis Powell, Ruth Bader Ginsburg, Dobbs, Antonin Scalia, Scalia’s, Scalia, Jesse, Warren Burger, Clarence Thomas, Samuel Alito, Neil Gorsuch, they’ve, Gorsuch, ” Barrett, Jackson, Alito, ” Alito, Biden, Justice Roberts, CNN Kagan, Barrett’s, Roe, Wade, ‘, ’ Barrett, Adrian Zackheim, Justice Barrett, ” Zackheim, Sentinel publicists, Sen, Mitch McConnell, McConnell, Barack Obama’s, Merrick Garland, Ginsburg Organizations: CNN, Republican, White, Republicans, Representatives, Notre Dame, Trump, Democratic, Glossip, Jackson, Health Organization, New York, Association, Harvard, ., Biden, Capitol, of Education, Ronald Reagan, Sentinel, Penguin Random, Wall Street, University of Louisville McConnell Center Locations: America, Oklahoma, ”, . United States, New Orleans, Washington, Haiti, Idaho, California, Louisville

☆ 3 people have been charged in connection with Liam Payne's death, Argentinian prosecutor says
▼ + stars: | 2024-11-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Liam Payne, 31, died on October 16 after falling from a hotel balcony in Argentina. Local prosecutors said on Thursday that they charged 3 people in connection with his death. AdvertisementThree people have been charged in connection with the death of former One Direction member, Liam Payne, Argentinian prosecutors said on Thursday. AdvertisementAccording to the statement, Payne's toxicology analysis showed that he had "traces of alcohol, cocaine, and a prescribed antidepressant in his body." Payne's body was handed over to his father, Geoff Payne, last week, prosecutors said.

Persons: Liam Payne, —, Payne, Geoff Payne, Simon Cowell, Harry Styles, Zayn Malik, Louis Tomlinson, Niall Horan, Styles —, We're Organizations: Service, Correctional Prosecutor's, Business Locations: Argentina, Bueno Aires

☆ Goldman Sachs: Why individual investors need to look at private investments to further grow wealth
▼ + stars: | 2024-11-08 | by ( Kristin Olson | Global Head Of Alternatives For Wealth At Goldman Sachs | ) www.cnbc.com time to read: +6 min

In the past decade, private investments exploded from $4 trillion to $14 trillion. Primarily led by institutional capital, investors poured money into private markets in their search for differentiated returns and alpha generation. This makes sense as alternative investments have consistently outperformed global public markets on 10-, 15-, and 20-year time horizons. As more companies stay private for longer, a portfolio limited to public companies inevitably will miss market opportunities. While private markets offer advantages of broader economic exposure, diversification and alpha generation, it is important to understand their differences from public markets.

Organizations: Bain, Private

☆ Fintechs Upstart and Toast soar on earnings
▼ + stars: | 2024-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Toast , which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. Toast is still well off its pandemic highs of 2021, but the stock has now more than doubled this year. The company's adjusted earnings forecast of $90 million to $100 million for the current quarter sailed past estimates. Coinbase shares jumped 48% for the week, their strongest performance since January 2023.

Persons: Chris Comparato, David Girouard, Donald Trump's, Coinbase, Trump, Gary Gensler, Bitcoin, dogecoin, fintechs, Jack Dorsey's, Robinhood Crypto Organizations: Inc, New York Stock Exchange, Nasdaq, SEC Locations: fintech, solana

☆ Tom Lee says bitcoin could hit six figures before year-end
▼ + stars: | 2024-11-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is just getting started after its postelection rally, according to Fundstrat's Tom Lee, and is still on track to hit six figures by the end of the year. "I think because [it's] post-halving and now bitcoin is becoming a lot more relevant ... the regulatory overhang is diminishing — that there's a lot of upside from here." The flagship cryptocurrency climbed to fresh records this week after President-elect Donald Trump' s victory, which was widely anticipated as a bullish catalyst for the crypto industry at large. During Trump's campaign for reelection he promised the crypto industry a more favorable regulatory environment that would include appointing a more crypto-friendly leader to chair the Securities and Exchange Commission. Bitcoin is up 79% this year, compared with the S & P 500's 25% gain.

Persons: Bitcoin, Tom Lee, Donald Trump, It's, Lee, JD Vance, Vivek Ramaswamy, Cantor Fitzgerald, Howard Lutnick, Robert Kennedy Jr, it's, Sen, Elizabeth Warren, Biden, Gary Gensler Organizations: Treasury, Securities and Exchange Commission, SEC

☆ S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates
▼ + stars: | 2024-11-07 | by ( Jesse Pound | Alex Harring | ) www.nbcnews.com time to read: +2 min

The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve. The S&P 500 gained 0.74% to close at a record high of 5,973.10. The S&P 500 jumped 2.53% for its best post-election day in history. Those big swings were the backdrop for the Federal Reserve’s interest rate cut Thursday afternoon. “The balance of risks gives the Fed ample room to lower the Fed Funds rate well into 2025.

Persons: Donald Trump’s, Trump’s, Jerome Powell, ”, Jamie Cox, Trump, Tony Roth, we’ve, ” Roth, JPMorgan Chase Organizations: Nasdaq, Federal Reserve, Dow Jones, Dow, Treasury, Harris Financial, Wilmington Trust, “, Big Tech, Apple, Nvidia, JPMorgan, American Express Locations: Wilmington

☆ Texas man accused of killing mother of their child will keep parental rights until trial, judge says
▼ + stars: | 2024-11-07 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

A Texas man charged with manslaughter after hitting the mother of his 1-year-old child with his car will retain his parental rights, a judge has ruled. On Monday, a Randall County Judge ruled in a separate case that he can keep his parental rights over his 1-year-old child with Torres. However, on Monday, Judge James W. Anderson rejected the bid to terminate DeLao's parental rights, the outlets reported. “The judge refused to terminate his parental rights,” Quackenbush told NBC News. “There’s no intention on the part of the court system to take away his parental rights at all now or in the future.

Persons: Ulise DeLao, Brittany Torres, Torres, DeLao, Randall, Jesse Quackenbush, Jaqueline Sanchez, Torres ’, Judge James W, Anderson, “, ” Quackenbush, ”, they’ve, Quackenbush, Potter Organizations: Canyon Police, ABC, NBC, NBC News, Marine Corps Locations: Texas, Canyon , Texas, Randall County, Randall County , Texas, Armstrong

In the final weeks of the campaign, Trump kept supporters at a Michigan rally waiting for hours after he detoured to Texas to record Rogan’s show. And then many of them suddenly found themselves running Harris’ campaign. “This has been an historic partnership in which these teams have worked together extraordinarily well,” said a White House official who has been there from the beginning. “Not enough people understand the importance of that,” a Trump campaign official said of the Kennedy nod. It was the first energizing move that the campaign had since the switch-out.”A Democrat close to the Harris campaign said: “Brat summer had to end.

Persons: Barron Trump, Alex Bruesewitz, Trump, ”, Andrew Schulz, Theo Von, Mark Calaway, Joe Rogan, detoured, Harris, —, Rogan, Harris ’, I’d, Ro Khanna, Biden, “, Jesse Ferguson, Jen O’Malley Dillon, Obama, David Plouffe, Stephanie Cutter, Mark Cuban, Liz Cheney, Joe Biden’s, ‘ He’s, Ezra Levin, Trump’s, Robert Hur, indignantly, “ Nobody, ” Harris, Shuran Huang, Sen, JD Vance, Ohio, ’ ”, Joe Biden, “ Joe Biden, ” Biden, ’, Robert F, Kennedy Jr, jolt Trump, Tulsi Gabbard, Elon Musk, Kennedy, Biden’s, Word Organizations: Harris, Democratic, Trump Republicans, Trump, “ Staff, Democrat, Biden, DNC, White, Howard University, NBC News Biden, White House, RFK, McDonalds Locations: Michigan, Texas, —, Pennsylvania, ”

☆ Cliffside café in China serves death-defying $56 coffee with a view of Taiwan
▼ + stars: | 2024-11-07 | by ( Lilit Marcus | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Ye Kunkun spent 398 yuan (about $56) on a special iced Americano at a rural café in southeastern China. Xue Ke, the café owner, told CNN that they receive about 50 visitors on weekdays and double that on weekends. Xue Ke, the owner of Gushi Cliff Coffee, climbs on the cliff face. “This was one of my considerations when choosing the site.”Coastal views near Gushi Cliff Coffee in Fuzhou, southeastern China. While both Ye and Lin were satisfied with the service, they paused when it came to the price tag.

Persons: Ye Kunkun, Ye, rungs, “, ” Ye, Coffee, Cliff, ”, Xue Ke, Cliff Coffee, Xue, –, Spiderman, Lin Jiaxin, ” Lin Jiaxin, ” Lin, wilder, Lin, I’ll Organizations: Hong Kong CNN, Americano, CNN, China’s, Golden Locations: Hong Kong, China, it’s, – Gushi, Fuzhou, Fujian, Cliff, Taiwan Strait, Taiwan, Gushi Cliff Coffee

☆ A top mind at JPMorgan Asset Management warns of clear economic red flag after Trump's big win, despite soaring US stocks
▼ + stars: | 2024-11-07 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.

Persons: Stocks, Donald Trump, David Kelly, Wall, he's, —, Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's

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