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☆ A Debate Before the Trump-Biden Debate - The New York Times
▼ + stars: | 2024-06-27 | by ( Gail Collins | Bret Stephens | ) www.nytimes.com time to read: 1 min

Gail Collins: Not to be obvious or anything, Bret, but do you have any predictions about the big debate tonight? Bret Stephens: No predictions, just the wish that both candidates deliver roughly the same performances they put in four years ago: a coherent Joe Biden and an unhinged Donald Trump. But here’s my question for you: If Biden’s performance is disastrous, will you join me in calling for Democrats to find a new nominee? Gail: It’d have to be pretty super disastrous, Bret. Sure, if the president suddenly goes blank and stares at the screen in silence or forgets where he’s speaking and starts commending the Democratic congressional candidate from Delaware.

Persons: Gail Collins, Bret, Bret Stephens, Joe Biden, Donald Trump, Biden, Gail, It’d Organizations: Trump, Democratic Locations: Delaware

☆ Opinion: Bosses are striking back at workers who use mouse jigglers
▼ + stars: | 2024-06-26 | by ( Opinion Jeff Yang | ) edition.cnn.com time to read: +6 min

Especially the last bit: Corporate America is obsessed with ensuring their employees are staying productive when they’re working remotely, away from the gimlet eyes of management. It’s easy to imagine the types of pretend productivity gadgets these employees might have used: “mouse jigglers,” gizmos with a questionable name that make random, small motions of a mouse or touchpad. And Wells Fargo’s crackdown on these gadgets is just the latest attempt by big business to rein in perceived slacking by remote employees. That perceptual gap reflects a vast and growing mutual distrust between workers and employers in America. They’re how workers are battling back against boardroom Big Brother, in a technological arms race that’s only getting wilder as devices get more sophisticated.

Persons: Jeff Yang, Bruce ”, “, Jeff Yang CNN, Wells, They’re, they’re, wilder, I’ve Organizations: CNN, Bloomberg, Business, Intuit, Microsoft Locations: Asian America, America, New York , Connecticut, Delaware

☆ Factors that can impact whether someone tells a lies, according to deception researchers
▼ + stars: | 2024-06-25 | by ( Christian B. Miller | Wake Forest University | ) edition.cnn.com time to read: +8 min

Differences like these lead researchers like me to wonder what factors influence the telling of lies. Figuring out the frequency of liesMost research on lying asks participants to self-report their lying behavior, say during the past day or week. This result became the benchmark finding in the field of honesty research and helped lead to an assumption among many researchers that lying is commonplace. It could be that each person in the group tells one or two lies per day. Many lies occur in the heat of the moment, so it makes sense that when there’s a delay in communication, as with email, lying would decrease.

Persons: Joe Biden’s, Hunter Biden, George Santos, Cardi, ”, Bella DePaulo, it’s, Kim Serota, they’d, Madeline Smith, David Markowitz, Markowitz, Recordability, DePaulo, “, Deborah Kashy, you’re, B, Miller, John Templeton Organizations: CNN, Republican, University of Virginia, Michigan State University, Northwestern University, University of Oregon, John, John Templeton Foundation

☆ China will be more pragmatic with Europe than it has been with the U.S., strategist says
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will be more pragmatic with Europe than it has been with the U.S., strategist saysShaun Rein, managing director of China Market Research Group, comments on China's potential repsonse to Europe's EV tariffs.

Persons: Shaun Rein Organizations: China, U.S, China Market Research Locations: Europe

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ Barcelona ending apartment rentals by foreign tourists
▼ + stars: | 2024-06-24 | by ( ) edition.cnn.com time to read: +3 min

The city’s leftist mayor, Jaume Collboni, said that by November 2028, Barcelona will scrap the licenses of the 10,101 apartments currently approved as short-term rentals. The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68% in the past 10 years and the cost of buying a house rose by 38%, Collboni said. Local governments have announced restrictions on short-term rentals in places such as Spain’s Canary Islands, Lisbon and Berlin in the past decade. Vacation rentals platform Airbnb, which hosts a significant number of Barcelona listings, did not immediately respond to a request for comment. “Collboni is making a mistake that will lead to (higher) poverty and unemployment,” Barcelona’s tourist apartments association APARTUR said in a statement, adding the ban would trigger a rise in illegal tourist apartments.

Persons: Jaume Collboni, ” Collboni, Spain’s, Collboni, Isabel Rodriguez, “, ”, APARTUR Organizations: CNN —, Barcelona Locations: CNN — Barcelona, Spanish, Barcelona, Spain, Europe, Islands, Lisbon, Berlin

☆ Americans' spending patterns are flashing a warning of a possible consumer-led recession
▼ + stars: | 2024-06-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Read previewAmerica's stimulus-fueled shopping spree looks just about over — and lower spending could be a signal that a consumer-led downturn is on the horizon, economic experts say. Retail spending ticked 0.1% higher in May, but sales volume has dropped 1.3% year-over-year over the last three months, US Census data shows. That adds to a 4% decline in retail sales in the first quarter — and it's a strong sign the long-awaited consumer recession is on the horizon, economist David Rosenberg said recently. "Early signs of a consumer recession finally coming to the fore." AdvertisementThe US has 52% chance of slipping into recession by May of next year, according to projections from the New York Fed.

Persons: —, David Rosenberg, Stephanie Pomboy, Ian Shepherdson Organizations: Service, Business, McKinsey, Deutsche Bank, Consumer, Federal Reserve, New York Fed, Pantheon Macroeconomics

☆ A heat wave is bringing searing temperatures to New York and the I-95 corridor – and Washington DC could hit 100 degrees
▼ + stars: | 2024-06-22 | by ( Dalia Faheid | Samantha Beech | ) edition.cnn.com time to read: +6 min

Here’s the latest:• Millions of Americans under heat alerts: More than 100 million Americans, including those in the highly populated I-95 corridor, are under heat alerts through the weekend. A heat emergency is in effect for Washington, DC, where upper 90s and even triple-digit temperatures for the first time since 2016 will be possible. Washington, DC, Mayor Muriel Bowser said an extended heat emergency will remain activated throughout the weekend and into next week. Philadelphia has heat alerts in place through the weekend, with temperatures expected to feel close to 99 degrees. New Jersey’s heat alerts are in effect until 8 p.m. Sunday, according to the National Weather Service.

Persons: Alberto, •, ”, –, Muriel Bowser, Wes Moore, Kathy Hochul, Eric Adams Organizations: CNN, National Hurricane Center, California Department of Forestry, South, FBI, National Weather Service, ., . Maryland Gov, New, Gov, Tuesday, New York City, state’s Department of Public Health Locations: Ohio, Mexico, Washington, DC, Gulf, South Texas, California, Colusa County, New Mexico, Ruidoso, Ruidoso Downs, Washington , DC, . Maryland, New York City, New York, Philadelphia, California , Arizona, Utah, Salt Lake City, Las Vegas , Sacramento, Bakersfield , California

That sent lower courts scurrying into historical analyses to figure out if modern gun laws had some connection to the 18th Century. Roberts’ opinion said that lower courts were misunderstanding what the majority had said in that ruling. But Justice Ketanji Brown Jackson, a member of the court’s liberal wing, suggested it was the high court’s fault for not providing clarity for lower courts to follow. One deals with a Pennsylvania man’s challenge to a federal law prohibiting felons, including those who are non-violent, from possessing firearms. Solicitor General Elizabeth Prelogar presented that argument with an eye toward several other challenges pending to similar federal gun prohibitions that involve non-violent criminal activity.

Persons: John Roberts, Zackey Rahimi, ” Roberts, Donald Trump, Roberts, Ketanji Brown Jackson, Neil Gorsuch, Brett Kavanaugh, Kavanaugh, Amy Coney Barrett, ” Barrett, ” Thomas ’, Bruen, Clarence Thomas, Thomas, Elie Honig, SCOTUS, Rahimi, ” Thomas, Hunter Biden, Hunter, Biden, Daniels, Steve Vladeck, ”, Elizabeth Prelogar Organizations: CNN, Supreme Court, New York, Trump, US, Appeals, Supreme, Circuit, University of Texas School of Law Locations: Texas, New, Bruen, Mississippi, Delaware, Pennsylvania, Illinois

“The president has gotten increasingly punchier in recent remarks about Trump and plans to carry that theme through to the debate,” one Biden campaign official said. (CNN debate rules stipulate that each candidate will have a pen, writing pad and a bottle of water at the podium.) Biden’s former chief of staff, Ron Klain, is taking the lead to help the president get ready to debate Trump, a Biden campaign official told CNN. In the last cycle, Biden aides were particularly sensitive to Trump attacking members of Biden’s family on the debate stage. But that doesn’t mean Trump shouldn’t, or isn’t preparing,” said a person close to Trump, who requested anonymity to speak candidly.

Persons: poring, Joe Biden, Donald Trump, Biden, Trump, ”, He’s, “ I’ll, ” Trump, “, David, Camp David, Biden’s, Ron Klain, Klain, Bruce Reed, Reed, Jeff Zients, Anita Dunn, Mike Donilon, –, ’ Trump, Ohio Sen, JD Vance, Marco Rubio, Eric Schmitt of Missouri, Trump’s, Susie Wiles, Chris LaCivita, Kellyanne Conway, Stephen Miller, National Intelligence Richard Grenell, Chris Christie, Bob Bauer –, ” Bauer, acclimate Biden, Kate Bedingfield, Hunter, Jason Miller Organizations: CNN, Trump, White, Biden, Gatorade, peruse, Democratic, hourlong, Mar, Sens, Republican National Committee, Republicans, Capitol Hill, National Intelligence, New, New Jersey Gov, White House, “ Locations: Atlanta, Racine , Wisconsin, Maryland, Camp, hourlong State, East, Ukraine, Ohio, Marco Rubio of Florida, Washington ,, New Jersey, Philadelphia, Pennsylvania

☆ E.U. Warns France Over ‘Excessive’ Deficit, Adding to Political Risks
▼ + stars: | 2024-06-19 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Add an entry to the list of troubles facing President Emmanuel Macron of France less than two weeks before pivotal legislative elections: potential financial penalties by the European Union for failure to rein in the nation’s ballooning deficit and debt. Mr. Macron threw French politics into disarray earlier this month by calling for snap parliamentary elections after his party was battered by the far right in European Parliament elections. The fiscal warning by E.U. authorities set the stage for a possible confrontation between Brussels and Paris. institutions, and want to ease rather than tighten fiscal policy.

Persons: Emmanuel Macron, Macron Organizations: European Union, National, Marine, National Rally, New Locations: France, Brussels, Paris

☆ I ditched gentle parenting. As my child got older, I felt like I was enabling bad behavior.
▼ + stars: | 2024-06-18 | by ( Hannah Nwoko | ) www.businessinsider.com time to read: +4 min

While pregnant, I read up on parenting styles and came across an ultramodern movement called "gentle parenting." Gentle parenting worked when my child was littleGentle parenting was relatively easy during early motherhood. Even when I followed the gentle parenting scripts laid out by gurus, everything felt like an ongoing tug of war. Ultimately, I came to the conclusion that gentle parenting is way too gentle. In all honesty, drifting away from gentle parenting made me realize that parenting is more about trusting your gut than following scripts and best practices.

Persons: I've, —, — peacefulness, couldn't, That's Organizations: Service, Business Locations: —

☆ Retail sales rose less than expected in May
▼ + stars: | 2024-06-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington CNN —Sales at US retailers rose last month at an unexpectedly weak pace as US consumers continue to deal with still-high inflation and elevated interest rates. Retail sales rose just 0.1% in May from the prior month, the Commerce Department reported Tuesday. That’s better than April’s downwardly revised 0.2% decline but below the 0.3% gain economists projected in a FactSet poll. Meanwhile, spending was the strongest at specialty stores that sell sporting goods, books, and musical instruments, which jumped by 2.8% last month. Monthly retail sales have increased four times over the past six months through May, but figures for April and March were revised lower, the Commerce Department said Tuesday.

Persons: That’s Organizations: Washington CNN —, Commerce Department, Federal Reserve

☆ EV startup Fisker files for bankruptcy, aims to sell assets
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: +2 min

Fisker CEO Henrik Fisker introduces the all-electric off-road Ocean called the Force E during its inaugural "Product Vision Day" in Huntington Beach, California, on August 3, 2023. U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday, looking to sell its assets and restructure its debt, after succumbing to rapid cash burn to deliver its "Ocean" SUVs in the United States and Europe. "Like other companies in the electric vehicle industry, we have faced various market and macroeconomic headwinds that have impacted our ability to operate efficiently," Fisker said in a statement early on Tuesday. The company's operating unit, Fisker Group Inc., filed for Chapter 11 bankruptcy in Delaware, listing estimated assets of $500 million to $1 billion and liabilities of $100 million to $500 million. Fisker made over 10,000 vehicles in 2023, less than a quarter of its forecast, but delivered only about 4,700.

Persons: Henrik Fisker, Fisker Organizations: Fisker, Inc, Reuters, Nissan, U.S Locations: Huntington Beach , California, United States, Europe, Delaware

☆ Opinion: Don’t focus on bracing for a Trump win
▼ + stars: | 2024-06-17 | by ( Dean Obeidallah | ) edition.cnn.com time to read: +6 min

The article also cited an organization that is preemptively hiring a new auditor in case Trump were to direct the Internal Revenue Service to target the group during a second term. Trump is telling anyone who will listen what his dark goals are for a second term — from mass deportations to the construction of expansive detention camps for migrants to expanding his presidential power. Even the strategy detailed in Sunday’s New York Times article, which included using the courts to slow down a second-term Trump agenda, is far less likely to be successful this time. One reason for this is that in his first term, Trump was able to confirm more than 200 federal judges including three US Supreme Court justices that he personally appointed. That is why second-term resistance strategies only divert resources from the more pressing imperative at hand: keeping Trump from winning a second term.

Persons: Dean Obeidallah, Trump, ” Dean Obeidallah, Jay Inslee’s, Donald Trump, —, There’s, ”, “, scoundrels, I’m, stymie Trump’s, Aileen Cannon, Arizona Sen, John McCain, Dan Newhouse, David Valadao of, Mitt Romney, Trump’s, Mitch McConnell — Organizations: CNN, The New York Times, Democratic, ” Dean Obeidallah CNN, Washington Gov, Trump, Internal Revenue Service, Conservative Political, Republicans, Sunday’s New York Times, GOP, MAGA Republicans, Senate, Twitter, Washington Locations: ” America, ”, Wisconsin, American, Sunday’s, Arizona, David Valadao of California

☆ China needs bond market reforms to rein in soaring debt, S&P Global says
▼ + stars: | 2024-06-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

China needs bond market reforms as soaring debt poses significant longer-term risk to the country, according to S&P Global. Despite the government's efforts, debt levels remain very high even as nominal GDP growth has slowed, the rating agency said in a report on Thursday. "Policymakers understand the need to simultaneously control leverage and sustain economic growth" to manage systemic risks over the long-term, the analysts noted. But market reforms appear to have "taken a back seat," with authorities focused on addressing pressing issues such as the real estate crisis, stimulating economic growth, as well as keeping local government debt under control, S&P said. Pushing ahead with bond market reforms may be necessary to "concurrently" tackle those challenges, as it could lower debt levels over the long term, the report said.

Organizations: P Locations: Hangzhou, China

☆ I tried 27 of Trader Joe's seasonal summer products, and there are only 6 I wouldn't buy again
▼ + stars: | 2024-06-13 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +40 min

Read previewFrom versatile crispy jalapeño pieces to luscious Southern-style peach ice cream, Trader Joe's has plenty of seasonal items for the summer. As part of an ongoing series in which I review Trader Joe's seasonal products, I gave the chain's summer offerings a try. These crispy jalapeño pieces would elevate just about any summer mealI had heard great things about Trader Joe's crispy jalapeño pieces. No frozen treat is complete without one of Trader Joe's organic sugar conesThis sugar cone paired well with Trader Joe's peach-crisp ice cream. As my experience is with most Trader Joe's salad kits, I think it also could've used a lot more dressing.

Persons: —, Joe's, Wilson, arugula, I've, graham, shortbread, dill, Wilson I'm, doesn't, garlicky, you'd, hummus, Savanna, I'm salivating, I'm, crisps, they're, ravioli, I'd, morsel, didn't, soggy, It's, jalapeño, jalapeño crisps Organizations: Service, Business, Wilson, nacho, snacking Locations: Savanna, dill, Jolly, radicchio

☆ Here are the 'micro pockets' of deflation in May 2024 — in one chart
▼ + stars: | 2024-06-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

There are currently some "micro pockets" of deflation in the U.S. economy, said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. Why prices are deflating for goodsConsumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. For example, households have seen prices for furniture and bedding fall by 3.7% since May 2023, according to the consumer price index. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Travelers have also seen deflation for airline fares (-5.9%), hotels (-1.7%) and car rentals (-8.8%) since May 2023.

Persons: Joe Seydl, Seydl, Michael Pugliese, they've, Hayley Berg, Hopper, Olivia Cross Organizations: Getty, Morgan Private Bank, Consumers, Wells, Wells Fargo Economics, Finance, Federal Reserve, of Labor Statistics, U.S, Canadian, Capital Economics Locations: U.S, Wells Fargo, North America

☆ Key takeaways from the Fed’s latest interest rate decision
▼ + stars: | 2024-06-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March. They also expect inflation to be more stubborn this year than they thought in the spring, according to their forecasts. The Fed has kept interest rates at a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022. Here are key takeaways from the Fed’s latest decision on interest rates. Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century are squeezing Americans.

Persons: Jerome Powell, Powell, ’, it’s, ”, “ We’ve, ” Powell, trickling, Wall, Matt Colyar, “ Organizations: Washington CNN, Federal Reserve, Labor Department, That’s, CPI, Fed, Moody’s Locations: April’s

☆ Marjorie Taylor Greene creates headaches for House GOP as leaders weigh how much attention to give the Trump loyalist
▼ + stars: | 2024-06-11 | by ( Melanie Zanona | Annie Grayer | ) edition.cnn.com time to read: +10 min

And I’m not leaving,” Greene told CNN of what she relayed to Comer, a Kentucky Republican. GOP Rep. Don Bacon of Nebraska framed the internal debate over how to handle Greene in familial terms: “You can only do so much. The American people don’t give a sh*t,” Greene told CNN last week after her meeting with Johnson. It’s not the first time Greene has tried the unpopular move of undermining the committee process and House GOP leadership. “I don’t think that you cure one hasty ill-advised action with another,” GOP Rep. Nick LaLota of New York said of Greene’s proposals.

Persons: Marjorie Taylor Greene, Kevin McCarthy, Mike Johnson, Greene, Johnson, Georgia Republican —, —, Donald Trump’s, Joe Biden, of Justice —, Carlos Giménez, MAGA, General Merrick Garland, Jasmine Crockett’s, James Comer, “, ” Greene, Comer, ”, Lauren Boebert, Bob Good, Ron DeSantis, “ I’ve, “ I’m, Ralph Norman of South, McCarthy, Don Bacon of Nebraska, Trump, Biden, It’s, Alejandro Mayorkas, impeaching, impeaching Biden, Nick LaLota, ” Johnson, Anthony Fauci, Brad Wenstrup, Wenstrup Organizations: CNN, GOP, Republican, Georgia Republican, Caucus, GOP Conference, of Justice, Republicans, Trump, Democratic Rep, Kentucky Republican, Florida Gov, Ralph Norman of South Carolina, impeaching Department of Homeland, Democratic, Justice Department, Ohio Republican Locations: Florida, Las Vegas, Kentucky, Colorado, Virginia, “, MAGA, New York

☆ Why Trump Resonates With Nevada Voters: Inflation, Economic Turmoil - The New York Times
▼ + stars: | 2024-06-10 | by ( Joe Lombardo | ) www.nytimes.com time to read: +1 min

In the 2022 elections, I was the only candidate in the country to unseat an incumbent governor of either party. Kitchen-table politics are once again demonstrating power in Nevada, as polling shows former President Donald Trump with a sizable lead over President Biden. When I took office, Nevada was grappling with the economic hangover of the pandemic. Since Mr. Biden took office, prices have risen 19 percent, a major factor in real average weekly earnings dropping 4 percent. This type of economic turmoil is simply unsustainable for Nevada families.

Persons: Nevadans, Donald Trump, Biden Organizations: Economic Locations: Nevada

☆ Americans are feeling rosier about their finances, the stock market and inflation’s decline
▼ + stars: | 2024-06-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

The New York Fed’s May Survey of Consumer Expectations showed improvement of people’s perceptions of their current financial situation as well as their outlook for a year from now. Households’ expectations for highest US stock prices improved to a three-year high. In May, home price expectations were still high, unchanged from the month before; however, inflation expectations dipped — and that’s a good sign for the Federal Reserve. Monday’s survey showed that the three- and five-year inflation expectations were unchanged. When the April CPI showed inflation on a cooler trajectory than it had started the year, the major US stock indexes all surged to record highs.

Organizations: CNN, Federal Reserve Bank of New, The, Consumer, Survey, Federal Reserve Locations: Federal Reserve Bank of New York, York

☆ Photographer Juergen Teller’s playful take on an age-old fertility myth
▼ + stars: | 2024-06-10 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

So when photographer Juergen Teller and his wife and creative partner Dovile Drizyte were trying for a baby while on vacation in Sicily two years ago, Teller recommended the practise. Juergen TellerTeller and Drizyte have become creative collaborators as well as romantic partners. Juergen TellerTeller is known for his matter-of-fact, improvisational aesthetic in commercial fashion campaigns, and had previously photographed at the hotel. Juergen TellerDrizyte “had to be very serene,” Teller said of the shoot, which he called both physically and mentally exhausting. “The maids were coming and cleaning these rooms and taking beds out.”“Guests disappeared and it became more ghostlike,” Teller added.

Persons: Juergen Teller, Dovile Drizyte, Teller, “, Dovile, ‘, ’ ”, Drizyte, Iggy, —, Juergen Teller Teller, ” Drizyte, ”, “ Dovile, ” Teller, Juergen Teller Drizyte “, ” “ Organizations: CNN, Villa Locations: Sicily, Lake Como, Italy

☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

☆ US economy added a whopping 272,000 jobs in May
▼ + stars: | 2024-06-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state and trajectory of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Employment fell in the household survey, while unemployment increased to just shy of 6.5 million and pushing the unemployment rate to the threshold of 4%. Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added. “Don’t get overly spooked by the rise in the unemployment rate,” Bunker wrote. “The labor market is still gliding toward a soft landing.”

Persons: ” Dean Baker, “, I’ve, Diane Swonk, ”, Wall, Chris Rupkey, FwdBonds, CEPR’s Baker, ” Baker, ” Thomas Simons, Jeffries, Nick Bunker, Bunker, “ Don’t, ” Bunker Organizations: CNN, Federal Reserve, Center for Economic, Policy Research, of Labor Statistics, KPMG, That’s, Index, Traders, BLS, Service, North America

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