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☆ 5 major U.S. cities where it's harder for Gen Z to afford rent than it was for millennials at the same age
▼ + stars: | 2024-11-17 | by ( Judy Lagrou | In Judylagrou | ) www.cnbc.com time to read: +1 min

In fact, 3 out of 5 of Gen Z renters — those born between 1997 and 2012 — spend more than 30% of their income on rent, according to recent research from Zillow. In some cities, though, researchers found an uptick in rent-burdened young people from a decade before. "It's really tough for young renters," Lee tells CNBC Make It. "High rent burden can set young renters behind financially, impacting their ability to afford other essential expenses, let alone saving up for life goals down the road." Here are the top five cities where more members of Gen Z are rent burdened as of 2022 than their millennial counterparts were 10 years prior, according to Zillow.

Persons: —, Kenny Lee, Lee, Gen Organizations: Zillow, CNBC

☆ Court orders South Africa police to end mine stand-off
▼ + stars: | 2024-11-17 | by ( Billy Stockwell | ) edition.cnn.com time to read: +2 min

CNN —A South African court ordered police to end a standoff with illegal miners and allow emergency workers to gain access to a shaft where hundreds are believed to be holed up. On Friday, the South African Human Rights Commission (SAHRC) said in a statement it was investigating the police for restricting the miners’ essential supplies. The South African Police Service welcomed the court order but said that the ruling does not prevent the detention of illegal miners who are in good health. Three illegal miners resurfaced by Saturday afternoon, according to the police. Also on Saturday, a South African national was arrested in Kanana at a house used as a smelter – a facility used to purify gold – they added.

Persons: Yasmin Omar, –, Jerome Delay, “ We’ve, David Van Wyk, ” Organizations: CNN, SABC, Human Rights, South African Police Service, South Locations: Pretoria, South Africa, Stilfontein, Johannesburg, Kanana

☆ Weak shipbuilding could be the US Navy's Achilles' heel in a war with China
▼ + stars: | 2024-11-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +14 min

The US Navy faces critical shipbuilding problems that could hobble it in a war with China. China's commercial and military shipbuilding capacity overshadows the rest of the world. China has pursued shipbuilding dominance over the past few years, building a massive naval fleet. Long-term investments and solutions are needed to fix the US Navy's shipbuilding problems. US Navy photo by Mass Communication Specialist Seaman Erwinjacob Miciano/ReleasedThe US Navy's shipbuilding woes aren't new, and there simply isn't a quick fix.

Persons: Shelby Oakley, Oakley, Paula Zorensky, Gerald R, Petty, Alex Smedegard, Bryan Clark, who's, Mackenzie Eaglen, Seaman Wesley J, Bryan McGrath, Matthew Funaiole, McGrath, Seaman Erwinjacob Miciano, Lisa Franchetti, Franchetti, John Harris, Campbell Organizations: US Navy, US, Getty Images China, Newport News Daily Press, TNS, Navy, Huntington Ingalls Industries, General Dynamics, Marinette Marine Corporation, of, Pentagon, USS Enterprise, Getty Images Navy, Shipbuilders, GAO, Shelby, Norfolk Naval Shipyard Shipbuilders, Shipbuilders Council of America, Ford, Columbia, Hudson Institute, American Enterprise Institute, Communication, Jiangnan Shipyard, Shipyards, China State Shipbuilding Corporation, China Power, Center for Strategic, International Studies, People's Liberation Army, of Naval Intelligence, Technological, Department of Defense, Pacific . US Locations: China, US Navy, Virginia, Columbia, Shelby West, Jiangnan, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Taiwan, Pacific, Japan, South Korea

☆ 4 ways Trump's housing plans are expected to hurt homebuyers and 3 ways they could help
▼ + stars: | 2024-11-17 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

AdvertisementHigh housing costs, driven in large part by a shortage of homes, are keeping inflation sticky. Economists say Trump's proposals are a mixed bag; some could help housing costs and some could hurt. Ultimately, housing policy experts and industry leaders say housing costs will largely depend on how much new supply can be delivered to the market, which is suffering from a severe shortage of homes. Federal housing assistanceDuring his first term, Trump repeatedly proposed major cuts to housing assistance for households with low incomes or members with disabilities. This would make it harder for lower-income Americans to afford homes and slow down affordable housing construction.

Persons: Trump, Donald Trump, Karoline Leavitt, Vance, Jim Tobin, Tobin, Maurice Page, JD Vance, they're, Anirban Basu, Biden, Ben Metcalf, Metcalf Organizations: Federal Reserve, Trump, National Association of Home Builders, Biden, Administration, Nevada Housing Coalition, Business, Energy, Associated Builders and Contractors, Economic, of New, Reserve, UC Berkeley, Immigrants, Republican Locations: Nevada , Arizona, Utah, of New York, China

☆ Workplace flexibility is helping Americans take longer trips this holiday season, report finds
▼ + stars: | 2024-11-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Americans are determined to travel this holiday season — and certain workarounds are helping them take those trips. This flexibility allows workers to take trips they might not otherwise, or stretch their trips for longer, according to the survey. The change in laptop luggers is "a pretty high jump. "The value to U.S. workers of being able to work from anywhere has clearly grown over the course of the great remote work experiment," she said. "People are willing to cut corners to save money, but they don't want to skip the trip entirely," said Ted Rossman, an industry analyst at Bankrate.

Persons: Gen Zers, Eileen Crowley, Julia Pollak, Ted Rossman Organizations: Deloitte, Finance, ZipRecruiter

☆ It's time to stop humblebragging about how busy we are
▼ + stars: | 2024-11-17 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

Busy calendars can be seen as a status symbol yet can lead to burnout, an executive coach told BI. It's not uncommon for Brandon Dock to hear from execs that they're too busy to meet. "So you could either be busy every day for the next five weeks, as you claim, or you could take a half hour," Dock said. "If you have a very busy calendar, some workers use this as a status symbol," Leussink said. "I have a couple of clients that are really going through some pretty heavy burnout right now, based on their calendars," Walker said.

Persons: Brandon Dock, they're, Dock, Joep, Leussink, Kate Walker, Walker, she's, execs, Ethan Kross, who's, Kross, he'd, hadn't, what's, It's, " Kross Organizations: Workers, Control, University of Michigan Locations: AddEvent, San Francisco, we're

On the right, familiar conspiracy theories about voting popularized by President-elect Donald Trump continued to circulate. NewsGuard said there was “no evidence” that Starlink was used to interfere with the presidential election in Trump’s favor. As the 2024 election results were reported, social media users on the left began to speculate about Musk’s role in vote counting. “Kamala Harris left us a breadcrumb,” one TikTok user said about the updated language on the fund’s website in a video that received over 700,000 views. CISA responded to this speculation on its website’s “Rumor vs. Reality” resource, where it has debunked election misinformation.

Persons: Donald Trump, Kamala Harris, Sam Howard, NewsGuard, Elon Musk’s, Starlink, Max Read, ” Read, “, ”, denialism, ” NewsGuard’s Howard, ” Howard, Howard, Trump, weren’t, Musk, Joe Rogan, Theo Von, Harris, “ Starlink, Elon Musk, Jen, “ Kamala Harris, CISA Organizations: President, Facebook, NBC, Institute for Strategic, NBC News, Trump, Conservative, “, Cybersecurity, Infrastructure Security Agency, Fund, Republicans, Street Journal, Democratic National, Harris, Democratic Party, FBI Locations: NewsGuard’s U.S, U.S, Wisconsin, Trump’s, Pennsylvania, California

The U.S. on Saturday reported its first case of a more aggressive strain of mpox: an individual in California who had recently traveled from Eastern Africa. It is classified into two distinct groups: the more aggressive strain, clade I, and a somewhat milder strain, clade II. In the current outbreak, clade I has been spreading largely through contact with infected animals and transmission within households, according to disease experts. But a version of the strain, clade Ib, has also spread through sexual contact among female sex workers and men who have sex with men in Congo. That’s compared to a 0.2% global fatality rate for the 2022 outbreak.

Persons: “, Marc Siegel Organizations: California Department of Public Health, Centers for Disease Control, CDC, World Health Organization, Democratic, George Washington School of Medicine, Health Sciences, of Health, Human Service, Health Locations: California, Eastern Africa, San Mateo County, U.S, Africa, Central Africa, East Africa, Democratic Republic of Congo, Sweden, Thailand, Germany, India, United Kingdom, Congo

Ford Motor Company has agreed to pay $165 million, the second-largest auto penalty ever issued by the National Highway Traffic Safety Administration, to settle charges it failed to comply with federal recall requirements. “The total civil penalty amount of $165 million is second only to the Takata airbag consent order in the agency’s 54-year history,” the NHTSA said in a statement. The Ford penalty stems from a multi-year investigation into the automaker's handling of defective rollover safety cameras on a number of its models, including its popular F-150 trucks and Explorer SUVs. In a statement, Ford said it disagreed with NHTSA's findings but that it was pleased to administratively settle the dispute with the regulator. Power's "initial quality" report earlier this year as a sign the company is making progress on addressing those issues.

Persons: Ford, Sophie Shulman, ” Ford, Jim Farley, Farley Organizations: Ford Motor Company, National, Traffic Safety Administration, NHTSA, Ford, Barclays Locations: J.D

☆ 7 ways a Trump administration could affect your finances
▼ + stars: | 2024-11-16 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

Here are seven ways a Trump administration could affect your personal finances. During Trump’s first term, the 2017 Tax Cuts and Jobs Act temporarily expanded the child tax credit from $1,000 to $2,000. “He will deliver.”TaxesThe Trump administration is expected to focus on extending tax cuts introduced by the Tax Cuts and Jobs Act that are set to expire in 2025. The Trump administration wants to “promote choice and competition” and make health care more affordable, according to his policy platform. The Trump administration will likely cut red tape to encourage business and real estate developments.

Persons: Donald Trump, he’d, Trump, JD Vance, Maria Castillo Dominguez, —, Karoline Leavitt, Vance, “, ” Leavitt, Alan Auerbach, Social Security Trump, Biden, Berkeley’s Auerbach, Joe Biden’s, ” Auerbach, “ They’re, ”, Trump’s, Auerbach, Sarah Lueck, ” Trump Organizations: CNN, Social Security, Jobs, Valoria Wealth Management, Trump, Urban, Brookings Tax, Tax, UC Berkeley, Center, enrollees, Republicans, Public, Consumer, National Retail Federation, Health, Republican, Center for Budget, Medicare, it’s, Housing

☆ Are Black Friday deals worth waiting for? Here's what to expect this year
▼ + stars: | 2024-11-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

A customer visits Macy's Herald Square store in New York City during early morning Black Friday sales, Nov. 24, 2023. Consumers are increasingly concerned that their online orders may not arrive in time for the holiday — and rightfully so. What discounts to expect on Black Friday"You are easily going to see 20% to 30% off," Davis said — but "not necessarily storewide." What not to buy on Black FridayTypically, Black Friday is a great time to find rock-bottom prices on fall clothing — including flannels, denim, coats and accessories — as well as televisions and consumer electronics. Travelers can check out Travel Tuesday deals from 2023 to get an idea of what to expect this year.

Persons: Kena Betancur, Patrick Kelleher, Lauren Beitelspacher, Beitelspacher, we've, Davis, Lululemon, Woroch Organizations: Macy's Herald, Consumers, DHL Supply, North, CNBC, Babson College, Nike, Day, Labor Locations: New York City, North America

☆ Pro-Palestinian activists’ anger at Democrats hasn’t been dampened by Trump’s election
▼ + stars: | 2024-11-16 | by ( Gregory Krieg | ) edition.cnn.com time to read: +11 min

CNN —For Democratic pro-Palestinian activists, Donald Trump’s reelection delivered a bitter vindication. Led by the Uncommitted National Movement, they spent months pushing and pleading with the Biden administration to scale back its support for Israel’s war in Gaza. “I don’t have any regrets,” Uncommitted spokesman and strategist Waleed Shahid told CNN. After weeks of back-and-forth, on the final night of the confab, party officials inside the United Center told Uncommitted leaders it was a no-go. “The thing I’ve been saying and I will always say is that these uncommitted voters are our voters, they’re our family,” Barnes told CNN at the time.

Persons: Donald Trump’s, Biden, Joe Biden’s, “, ”, James Zogby, Kamala Harris, ” Uncommitted, Lexis Zeidan, Trump “, ” Lexi Zeidan, Trump, Jill Stein, Harris, Harris ’, wasn’t, ” Zeidan, ’, Wa’el Alzayat, Emgage, Alzayat, Wa'el Alzayat, Jose Luis Magana, Mike Huckabee, Tulsi Gabbard, Matt Gaetz, Waleed Shahid, Lavora Barnes, –, ” Barnes, Shawn Fain, Ruwa, Romman, ” Romman, Trump’s, Dalal Baydoun, Stein, Israel, ” Harris, Bill Clinton, ” Clinton, ” Clinton’s, capper, Liz Cheney, Dick Cheney, Donald Trump, ” Shahid, “ it’s, ” Zogby, Zogby, “ There’s, we’re, he’s, CNN’s Danny Freeman, Yon Pomeranz Organizations: CNN —, Democratic, Movement, Black, Arab American Institute and, Democratic National Committee, Trump, CNN, Green Party, Democrat, Democrats, Muslim, Latina, Democratic National Convention, United Center, Michigan Democrats, United Auto Workers, statehouse, West Bank, United Nations, UN Human Rights, State, Defense, Michigan State University Locations: Gaza, Michigan, Dearborn, CNN Dearborn , Michigan, American, Chase , Maryland, Israel, Chicago, Palestinian, Georgia, ”, Arab, Lebanon, East Lansing, Palestine, Iraq

☆ Why your next new car could very well cost more than $50,000
▼ + stars: | 2024-11-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That means new car prices have risen much faster than most goods and services. But much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The combination of higher interest rates and higher car prices, along with the biggest average loans ever taken out to buy them, lifted the average monthly car payment to $742 in October. And that would make every car built in America more expensive, because no vehicle is made with 100% American parts.

Persons: New York CNN — It’s, That’s, Buyers, ”, Ivan Drury, “, didn’t, Charlie Chesbrough, Drury, –, ” Drury, Donald Trump, Jeff Schuster, GlobalData, They’re Organizations: New, New York CNN, Cox Automotive, Nissan, Infiniti, General Motors, Ford, Jeep, Dodge, Chrysler, GM, Federal Reserve Locations: New York, Edmunds, American, United States, Stellantis, Mexico, America

☆ 3 reasons why Russia's economy can survive without crisis for up to 5 more years, think-tank economists say
▼ + stars: | 2024-11-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

Russia's wartime economy could be in it for the long-haul — or at least longer than expected. A team of economists is unconvinced that Russia will tumble into economic collapse any time soon, as suggested by some analysts. The paper counters notions that a Russian crisis will come as soon as next year, an argument made by economists such as Yuriy Gorodnichenko. Don't underestimate domestic demandAccording to the report, Russia's domestic market has been an underrated factor behind the country's perseverance. Sustainable war spendingSome have forecast an immediate recession if Russia's war in Ukraine ever ends, arguing that the Kremlin's massive war budget is responsible for the economy's continued survival.

Persons: Yuriy Gorodnichenko, shouldn't Organizations: Center, UC Berkley, CASE, Kremlin, Moscow Locations: Russia, Europe, Russian, Moscow, Ukraine

We had no income tax, and all we had was tariffs.”That’s why some Wall Street titans are trying to push for Bessent. Kyle Bass, a billionaire hedge fund investor at Hayman Capital Management, said Lutnick doesn’t have the composition to lead the Treasury. “Scott Bessent is eminently more qualified than Howard Lutnick to run the U.S. Treasury,” Bass posted on X Wednesday. A full week after appearing to decide on nominating Bessent, Trump interviewed him again at Mar-a-Lago. A key Cabinet player, the Treasury secretary advises the president on economic and fiscal matters, including spending and taxes.

Persons: Donald Trump, Elon Musk, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent, ” Musk, —, Bessent, ”, Kyle Bass, Lutnick doesn’t, “ Scott Bessent, ” Bass, “ Scott, I’ve, Bass, Dan Loeb, Scott Lincicome, Lutnick, “, Cheney, Lutnick —, Dick Cheney’s, George W, Tennessee Sen, Bill Hagerty, Larry Kudlow, Kudlow, Steven Mnuchin, Mnuchin Organizations: CNN, Trump, “, Wall, Fox News, titans, Hayman Capital Management, Treasury, U.S . Treasury, Cato Institute, Federal Reserve, Peterson Institute for International Economics, National Economic Council, America, Policy Institute, Fox Business, Bessent, Mar, Republicans, Treasury Department Locations: America, United States

☆ Inside the conservative hunt for partisans in the federal government before Trump takes over
▼ + stars: | 2024-11-16 | by ( Steve Contorno | ) edition.cnn.com time to read: +8 min

The requests were like thousands of others sent in the past two years by Trump-allied groups seeking to identify perceived partisans within the federal government. Dominic Gwinn/AFP/Getty Images/FileHowell estimates his group has submitted around 65,000 requests to federal agencies under the Freedom of Information Act, a law that governs public access to records produced by the government. Timothy D. Easley/AP/FileTrump as a candidate vowed to reinstate a 2020 executive order known as Schedule F, which gave him power to commence mass firings of federal employees who could be impediments to his agenda. America First Policy Institute also has close ties to Trump’s transition. However, it so far has not published a list of federal employees for the Trump administration to target, though Howell did not rule it out.

Persons: CNN —, Elon Musk, Donald Trump, Trump, “, ”, Mike Howell, “ We’ve, Dominic Gwinn, Howell, Tom Jones, Jones, ” Jones, Timothy D, Linda McMahon, McMahon, “ Trump, ” Everett Kelley, “ It’s, ” Howell, Rene Marsh Organizations: CNN, Department of Transportation, Trump, White, Heritage Foundation, National Conservative Conference, Getty, Policy Institute, American, Foundation, Department of Homeland Security, Democratic, Capitol Hill, Policy, Easley, America, Small Business Administration, Environmental Protection Agency, The Department of Transportation, EPA, American Federation of Government Employees Locations: Washington ,, AFP, Bardstown , Kentucky

☆ Insider Today: Protein pro tips
▼ + stars: | 2024-11-16 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

I'd call it No Meet Week and use that time to catch up on my ever-growing to-do list, ideate, and edit. After I introduced No Meet Week to my team, one manager said she'd like to participate too, and soon, I extended it to my entire team. AdvertisementNext week, at Business Insider, we're bringing No Meet Week back, and I can't wait to use that time to finish my Q4 strong. Quitting protein powderRachel Hosie tried to hit her protein target while avoiding ultra-processed food. For one week, Hosie attempted to hit her daily protein goal of 110 to 130 grams without consuming ultra-processed foods like protein bars.

Persons: could've, Jenny Chang, Rodriguez, I'm, Jensen Huang doesn't, she'd, iStock, Rebecca Zisser, they're, Rachel Hosie, Boris SV, Tyler Le, Hosie, Jean Paul Gaultier, Monica Humphries, Jay Maidment, Marvel's, Ryan Reynolds, Hugh Jackman, Dan DeFrancesco, Grace Lett, Lisa Ryan, Amanda Yen Organizations: Business, Nvidia, Microsoft, Getty, Century Studios, Marvel Studios, Apple, Smart, Black Locations: Tanzania, New York City, New York

☆ Trump made a lot of tax promises. Can he keep them?
▼ + stars: | 2024-11-16 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Although Trump claims that his plan to raise tariffs will replace the revenue lost to these tax breaks, experts say that’s not possible. President-elect Donald Trump's tax proposals could cost trillions of dollars. In addition to eliminating taxes on certain income, Trump also floated making interest paid on car loans fully tax deductible; getting rid of the controversial cap on state and local tax deductions; ending the double taxation on Americans who live abroad; exempting police officers, firefighters, veterans and active-duty military from federal income tax; and even exploring jettisoning the federal income tax itself. Though his campaign didn’t release details on the proposal, Trump indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. Virtually all tipped workers would get some tax relief if Trump also gets rid of payroll taxes on tips, the Tax Policy Center found.

Persons: Donald Trump, ” Karoline Leavitt, Trump, Marc Gerson, Miller, ”, Gerson, Donald Trump's, Jabin, Idaho Sen, Mike Crapo, Mandi Critchfield, Spokespeople, Jason Smith, Chris Campbell, ” Campbell, Republican Sen, Ted Cruz of, Byron Donalds, “ Sen, Brendan Duke Organizations: CNN, Social Security, Trump, GOP, “, Fox News, Capitol, Washington D.C, Republicans, Washington Post, Getty, Senate, Missouri Rep, Republican, Incamera Solutions, Yale University, Center, Rep, Center for American Progress Locations: Washington, Idaho, Nevada, Ted Cruz of Texas, Florida

☆ CDC confirms Oregon’s first human case of bird flu
▼ + stars: | 2024-11-15 | by ( ) www.nbcnews.com time to read: +1 min

The Centers for Disease Control and Prevention on Friday confirmed highly pathogenic form of bird flu in a person in Oregon. All the cases were farm workers who had known contact with infected animals, except for one person in Missouri. Last month, the H5N1 bird flu was confirmed in a pig on a backyard farm in Oregon, the first detection of the virus in swine in the country. The CDC has instructed that farm workers who have been exposed to animals with bird flu should be tested even if they do not have symptoms. Since 2022, the virus has wiped out more than 100 million poultry birds in the nation’s worst-ever bird flu outbreak.

Organizations: Disease Control, CDC, Health Locations: Oregon, U.S, Missouri

U.S. consumers collectively owe an eye-popping $1.17 trillion in credit card debt — a record — according to estimates the Federal Reserve Bank of New York released this week. But while there are still major financial risks for carrying hefty balances, the researchers said the data suggests that “rising debt burdens remain manageable” for the typical consumer. Prices are still going up, but they’re not going up as fast, and incomes are once again going up at a faster rate than expenses. Earnings growth has averaged 6.2% per year since the pandemic began, compared to the cumulative debt balance rising 4% per year. “Especially for higher-risk borrowers, credit card and auto loan delinquencies are the highest in a dozen years, and that’s with unemployment at 4%.

Persons: ’, Donald Trump, they’re, Greg McBride What’s, TransUnion, That’s, ”, Greg McBride, “, McBride Organizations: ’ paychecks, Federal Reserve Bank of New York, New York Fed, Commerce Department, Bureau of Labor Statistics, Bankrate Locations: ’ paychecks . U.S

☆ South Carolina man charged after New York reporter receives death threats
▼ + stars: | 2024-11-15 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

A South Carolina man accused of making a series of racist death threats online to a New York reporter has been arrested. Austin Suman, 35, of Myrtle Beach, has been charged with willfully making a threat involving explosives and interstate stalking, the U.S. Attorney’s Office for the Southern District of New York said. Suman sent death threats Nov. 8 to the reporter via Facebook and email and used a racial slur and derogatory language, according to a criminal complaint unsealed Friday. Suman's anger stemmed from an article the reporter wrote about him in February 2019 about allegations of him threatening a roommate with a gun. Prosecutors said threats that neutralizing threats against the press are a priority.

Persons: Austin Suman, Suman, “, ”, Prosecutors, Damian Williams Organizations: Attorney’s, Southern, of, Facebook, Attorney Locations: Carolina, New York, Myrtle Beach, U.S, of New York

☆ GM lays off 1,000 employees amid reorganization and cost-cutting
▼ + stars: | 2024-11-15 | by ( Michael Wayland | ) www.nbcnews.com time to read: +1 min

DETROIT — General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision. A small number of hourly employees were included in the layoffs. As part of this continuous effort, we’ve made a small number of team reductions. That included about 53,000 U.S. salaried employees. The United Auto Workers union, which represents hourly employees at the automaker, did not immediately respond for comment.

Persons: Kevin Kelly, we’ve, ” Organizations: DETROIT, Motors, GM, United Auto Workers union Locations: Detroit, Warren , Michigan

Despite its name, it won’t actually be a “department,” like the Department of Education or the Department of Homeland Security. “From the outside, will Musk and Ramaswamy be able to do a whole lot? During a late-October town hall on X, Musk suggested his ideal spending cuts could trigger economic pain for people. Democrats acknowledged they had little ability to prevent the Trump administration from enacting the changes Musk and Ramaswamy suggest. “In this second term in particular, President Trump has a better understanding of what needs to be done and how to do it,” Schatz said.

Persons: Donald Trump’s, Elon Musk, Vivek Ramaswamy, ” —, Ramaswamy, Trump, “, ” Musk, Max Stier, ” Stier, Musk, ”, MacGuineas, Joe Spielberger, ” Ramaswamy, Tucker Carlson, ” Sen, John Fetterman, “ It’s, Trump’s, —, they’re, Elon, Vivek, ” Spielberger, he’s, Lisa Gilbert, “ Musk, ’, Sen, Elizabeth Warren, Dean Phillips Organizations: Trump, “ Department, Government, Department of Education, Department of Homeland Security, White, Management, Budget, Partnership for Public Service, Social Security, Federal, Roivant Sciences, GOP, NBC News, FBI, Alcohol, Tobacco, Firearms, Explosives, Education Department, Nuclear Regulatory Commission, Food and Nutrition Service, Agriculture Department, Democrats, Senate, “, SpaceX, NBC, Twitter, Elon, Public Citizen, Democratic, Democrat Locations: Government

☆ World’s largest olive oil producer says ‘liquid gold’ prices on track to halve from record levels
▼ + stars: | 2024-11-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Elvis Barukcic | Afp | Getty ImagesSpain's Deoleo, the world's largest olive oil producer, says one of the most challenging moments in the industry's history appears to be drawing to a close, with "liquid gold" prices expected to nearly halve from an all-time high over the coming months. Extra virgin olive oil prices in Spain's Andalusia stood at 6 euros ($6.33) per kilogram as of Nov. 6, according to Expana, an agricultural and food-focused market intelligence firm. Spain accounts for more than 40% of the world's olive oil production, making it a global reference for prices. A person holds a bottle of olive oil on June 21, 2024, in Barcelona, Catalonia, Spain. Deoleo said olive oil prices should fall to around 5 euros per liter, a steep drop from highs of 9 to 10 euros, which had become the norm in Spanish supermarkets this year.

Persons: Elvis Barukcic, Miguel Ángel Guzmán, Guzmán, Carbonell, Deoleo, Kyle Holland, Expana's Holland Organizations: Afp, Getty, CNBC, Europa Press, Anadolu Locations: Bosnian, Herzegovinian, Ljubuski, Capljina, Europe, Spain, Greece, Tunisia, Spain's Andalusia, Barcelona, Catalonia, Turkey, Menemen Plain, Izmir, Turkiye

☆ Next year is already looking rough for retail store closures
▼ + stars: | 2024-11-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

If this year's closures are any indication — and if the economy worsens — they won't be alone. 2025 is still more than a month away, but it's already shaping up to be another rocky year for retail. Analysts at UBS project the total number of US retail closures could reach 45,000 over the next five years. For one thing, even healthy retailers like Walmart and Target periodically review and trim their store fleets in the normal course of business. In any event, the year hasn't even begun, but nearly 1,500 retail closures are slated — already roughly half the amount BI has tracked for full-year totals in recent years.

Persons: —, Topping, Shane O'Kelly, Donald Trump's Organizations: Parts, Walgreens, UBS, Coresight Research, Walmart, Target, Blockbuster

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