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☆ Your taxes are going up in 2026, according to Morgan Stanley. Here are 5 tax-advantaged trades to make.
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.

Persons: —, Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City

☆ Why male voters are such an important target for Harris
▼ + stars: | 2024-09-19 | by ( Jeff Zeleny | Aaron Pellish | ) edition.cnn.com time to read: +9 min

“Kamala Harris isn’t talking about the historic nature of this,” Walz, the Democratic running mate, told supporters here at a rally. But the strategies of both sides have overlapping objectives, with Trump working to widen his advantage with White men while making gains among young Black and Latino voters. “They both have their qualities, they both have their flaws,” said Hernandez, a North Carolina voter who is torn between Trump and Harris. But the Trump campaign is also targeting many of the same voters, particularly young men whose decision whether to vote – and for whom – could be a turning point in the election. Women make up a slim majority of the electorate, but the degree to which Trump can hold onto male voters could determine the outcome of the November election.

Persons: Kamala Harris, Donald Trump, Harris, It’s, Tim Walz’s, “ Kamala Harris isn’t, ” Walz, ”, Walz, Trump, White, Anthony Hernandez, Hernandez, –, ” Hernandez, “ It’s, “, Joe Biden, JD Vance, Tobey Pierce, ” Pierce, it’s, Alex Vigil, Kevin Miller, Miller, ” Miller, Harris ’, Minnesota Sen, Amy Klobuchar, Kareem Rahma Organizations: North Carolina CNN, Minnesota Gov, Democratic, CNN, ”, “, North, Trump, Republicans, International Brotherhood of Teamsters, Packers, Vikings, Minnesota, Democratic National Convention Locations: Asheville, North Carolina, Trump, Hendersonville, Wisconsin, “, Superior , Wisconsin, McDonald’s, Los Angeles

☆ German media empire Axel Springer to split in deal with KKR
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +3 min

Passers-by walk in front of the main entrance to the Axel Springer high-rise. The two sides had reached a deal in the summer to split Axel Springer, a source told Reuters on Saturday. KKR and its partner CPP Investments currently hold a 35.6% and 12.9% stake in Axel Springer, respectively, while Doepfner and Friede Springer hold 21.9% and 22.5%. Axel Springer had been preparing to float Stepstone but the planned initial public offering was shelved when war broke out in Ukraine in 2022. KKR and CPP Investments are now likely to target an IPO in the second half of 2025, according to an industry source.

Persons: Axel Springer, Mathias Doepfner, Axel Springer's, Springer, Friede Springer, Axel's, Doepfner, Friede Organizations: Politico, KKR, Reuters, Investments, Friede Springer, Springer Locations: Hamburg, North America, Aviv, Ukraine

☆ When Bay Area rent got too expensive, I bought a house in the mountains. Living here is a dream, but I'm uncertain about the future.
▼ + stars: | 2024-09-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

I'm the cofounder and CEO of Santa Cruz Fungi. I live in Boulder Creek, California, and my business is headquartered in Santa Cruz. In May 2016, I bought a home for my husband, Paul Lazazzera, and me in Boulder Creek. We married the following year, and Paul started our business in 2021. I had to go over my budget and closed at $535,000 almost a year later on a 740-square-foot house set on half an acre in Boulder Creek.

Persons: —, Katie Sarna, It's, I've, Paul Lazazzera, Paul, Katie, I'd, Shroomsicles, Rida, There's, Lauryn Haas Organizations: Service, Santa Cruz Fungi, Business, lhaas Locations: Santa Cruz, Boulder Creek , California, San Francisco, Boulder Creek, Boulder, Paul, Katie Sarna Boulder, It's, New York City, Francisco

☆ The company behind Sam Altman's iris-scanning ID startup just revealed new tech. Its privacy chief explains how it works.
▼ + stars: | 2024-09-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

The technology is similar to Apple's Face ID but mobile platform-agnostic, given that many Worldcoin users have Android devices. So I can take a photo of your face, and, through complicated AI, I could fool Face ID, for example. If it is the first time, the orb takes the iris code and cryptographically processes the iris code. Individually, neither of those new codes looks anything like the iris code, nor can they be brought back to the iris code on their own. The one person that can access that information is the owner of the world ID — the user.

Persons: Sam Altman's, Worldcoin, It's, Damien Kieran, Elon Musk, Kieran, they're, it's, Alex, Sam Altman Organizations: Service, Business, Companies, Humanity, Twitter, Google Locations: Germany, France, Kenya

☆ Billionaire tech CEO says bosses shouldn't 'BS' employees about the impact AI will have on jobs
▼ + stars: | 2024-09-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Corporate leaders can't "bulls---" their employees about the impact of artificial intelligence on the workforce and the ways in which the technology will affect jobs more broadly, according to one tech billionaire. "If I could give any advice, it's that everybody should be a student of AI and tech and not be afraid of it." Even though it's a given AI will impact the workforce, "none of us have it all completely figured out," he said. "If anybody comes in and tells you, 'I can tell you exactly how this is going to impact jobs and how it's going to impact everything we're doing,' they're lying. Kavanaugh co-founded WWT in 1990 with fellow St. Louis, Missouri-based entrepreneur David Steward as a reseller of technology equipment.

Persons: Jim Kavanaugh, Kavanaugh, David Steward Organizations: CNBC, Forbes, U.S, team Locations: Louis , Missouri, Los Angeles

In a little over a month, they will learn whether they have won of one of the most coveted competitions for emerging designers: The Council of Fashion Designers of America/Vogue Fashion Fund. It provides 10 finalists with access to industry leaders, with mentorship on everything from growing their brands to showing at New York Fashion Week. “The fashion fund is also beyond the tangible mentorship or grant, it’s a visibility play,” the CEO said. “The first fashion fund was the reason we started doing runway shows,” he said. Rogers and past finalist House of Aama will be taking their designs to the CFDA/Vogue Americans in Paris Initiative during Paris Fashion Week.

Persons: —, Proenza Schouler, Thom Browne, Browne, Anna Wintour, Roopal Patel, Steven Kolb, There's, Grace Ling, Ling, ”, Kolb, Sebastien, Marianne Amisial, Sebastien Ami, “, “ It’s, Christopher John Rogers, Michelle Obama, Tracee Ellis Ross, Rogers, Shawn Grain Carter, Michael Kors, ” Jackson Wiederhoeft, prepping, Wiederhoeft, Tommy Hilfiger, Rebecca Henry of House, Aama, she's, what's Organizations: New York, Fashion Designers of America, Vogue, Fund, Saks, American, Pacific Islander, Associated Press, Fashion Institute of Technology, Paris Initiative, Paris Locations: New, U.S, Singapore, ” Louisiana, Bushwick, Soho, Paris, Manhattan, ”

☆ Princess Diana transformed her iconic Met Gala dress by ripping out the corset, designer says
▼ + stars: | 2024-09-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

New details about Princess Diana's 1996 Met Gala dress have been shared in a Hulu docuseries. The lingerie-inspired slip dress was designed by John Galliano, who had just joined Dior. Galliano said the dress originally had a corset, which the royal "ripped" out without telling him. Go to newsletter preferences Thanks for signing up! One of the royal's most iconic looks — a lingerie-inspired slip dress that she wore to the 1996 Met Gala — was designed by John Galliano, who had just become head designer at Dior.

Persons: Princess Diana's, John Galliano, Dior, Galliano, —, Diana, Hulu docuseries Organizations: Hulu, Service, Business

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

☆ The Fed 'moved too fast' with rate cuts and now risks reigniting inflation, analyst says
▼ + stars: | 2024-09-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

On the positive side, Wharton professor Jeremy Siegel called the decision the "best news" the Fed has offered in years. He said the Fed "moved too fast" with its 50-point cut. This is unusual, since investors will typically snap up these assets after a rate cut. Related storiesSome on Wall Street noted that the Fed's decision to cut beyond 25 basis points was essentially a signal that the central bank is moving past inflation. To Contopoulos point, this may be premature, as August's consumer price index report still stood above the 2% inflation target.

Persons: —, Wharton, Jeremy Siegel, Michael Contopoulos, Bernstein, Contopoulos, Powell, Narayana Kocherlakota Organizations: Service, Business, Bernstein Advisors, CNBC, Wall, University of Rochester

☆ I've let my daughter do the family grocery shopping alone since she was 7. It fosters her independence.
▼ + stars: | 2024-09-19 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

AdvertisementAfter Paige said she wanted to do the grocery shopping, I thought, "I just need to think about the steps here." Grocery shopping has three parts: what you need, where it is, and checking out. She learned the layout of the grocery store and how to use the chip on the credit card. I'm practicing grocery shopping by myself." Grocery shopping is super fun for her.

Persons: —, Russ Perry, Paige, she'll, I've, Rees, Perry, she's, It's Organizations: Service, Business Locations: Arizona

☆ 9 cities where lower mortgage rates are actually pushing home prices more than 10% higher
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Read previewHomebuyers may have breathed a premature sigh of relief last month when mortgage rates dropped. In the last six weeks, mortgage rates have fallen over half a percentage point to 6.2%, according to Freddie Mac. AdvertisementAccording to Redfin Senior Economist Sheharyar Bokhari, prices are increasing because the drop in mortgage rates has spurred demand for houses while supply remains low. Year-over-year, prices rose in almost every one of the top 50 metro areas. Below are the 9 cities where home prices have risen the most in the last year, increasing at double-digit rates.

Persons: —, Freddie Mac, it's, Sheharyar, Bokhari, Skylar Olsen, homebuyers, Olsen, Austin — Organizations: Service, Fed, Business, Redfin Locations: San Antonio

☆ An elite nutrition coach for Olympians and CrossFitters shares 3 simple things he prioritizes to boost his longevity
▼ + stars: | 2024-09-19 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMike Molloy is a nutrition coach to elite athletes and regular folk alike. This story is available exclusively to Business Insider subscribers. Having strong social connections is well-established as an important factor in longevity, and if your friends and family also encourage you to live a healthy life, all the better.

Persons: —, Mike Molloy, Molloy, Sleep Molloy Organizations: Service, Business, Research

☆ Billionaire Palmer Luckey takes a victory lap with return to headset world 8 years after getting fired from Facebook
▼ + stars: | 2024-09-19 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Palmer Luckey's Anduril is bringing its tech to the US Army's Integrated Visual Augmentation System. Luckey, who was ousted from Facebook, added that he is among the smartest people in the VR industry. 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 . Palmer Luckey, the billionaire founder of Oculus VR and Anduril Industries, is bringing his virtual reality software to the military world after inking a new deal announced on Thursday.

Persons: Palmer, Luckey, —, Palmer Luckey Organizations: Facebook, VR, Service, Anduril Industries, US, Business

☆ Overworked junior bankers at JPMorgan are getting someone to check on their well-being
▼ + stars: | 2024-09-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

JPMorgan has created a new role to oversee the well-being of junior bankers and analysts. JPMorgan capped junior bankers' hours at 80 a week earlier this month. 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 . AdvertisementJPMorgan Chase has created a new global role to oversee junior bankers and analysts and prevent overwork.

Persons: Wall, —, JPMorgan Chase, Ryland McClendon, McClendon Organizations: JPMorgan, Service, Reuters, Business

☆ MIND is a combination of the Mediterranean and DASH diets. A dietitian who wrote a book on it shares 3 mistakes people make when starting out.
▼ + stars: | 2024-09-19 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +4 min

Read previewA dietitian who has written a book on the MIND diet spoke to Business Insider about the most common mistakes people make when starting to follow it. The MIND diet stands for the Mediterranean-DASH Intervention for Neurodegenerative Delay, and combines the principles of the Mediterranean and DASH diets , with added foods for brain health and longevity. Research suggests the MIND diet can help reduce cognitive decline as people age. BI spoke to McGrane about the mistakes people make when following the MIND diet. Related storiesTrying to overhaul your diet overnightMcGrane said that you shouldn't try to completely switch to the MIND diet immediately.

Persons: —, Kelli McGrane, McGrane, You'll, I'd Organizations: Service, Business, US, American Heart Association, Research, Neurology, Harvard, Chan, of Public Health, Beginners

☆ Investors should be hesitant to dive into stocks after the rate cut, with election uncertainty looming, Fundstrat's Tom Lee says
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election. AdvertisementProminent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates. But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election. That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely. With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.

Persons: Tom Lee, Lee, —, SoFi's Liz Young Thomas Organizations: Federal Reserve, Service, Fundstrat Global Advisors, CNBC, Fed, Business

☆ Harrods ‘utterly appalled’ by allegations that former owner Mohamed Al Fayed raped staff
▼ + stars: | 2024-09-19 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

London CNN —The high-end London department store, Harrods, said Thursday that it is “utterly appalled” by allegations of abuse – including rape – perpetrated by its former owner, the late billionaire Mohamed Al Fayed. More than 20 female ex-Harrods employees have accused Al Fayed, who died last year at age 94, of sexually assaulting them, according to an in-depth BBC investigation. One said she was assaulted when she was 15 and Al Fayed was 79. Stefan Kiefer/imageBROKER/ShutterstockIn 2008, Al Fayed denied allegations of sexual assault on a girl under the age of 16. This process is still available for any current or former Harrods employees.”

Persons: Mohamed Al Fayed, Al Fayed, Al, Duke of Windsor, Al Fayed’s, Dodi Fayed, Princess Diana, Fayed’s, ” “, Tony Leeming, Stefan Kiefer, imageBROKER, ” Organizations: London CNN, Harrods, Ritz, Villa Windsor, BBC, Police, ” Harrods Locations: London, Harrods, Paris, British, Paris .

☆ FedEx quarterly profit disappoints as demand for speedy delivery wanes
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options. Shares in the Memphis-based delivery giant tumbled almost 11% to $267.74 in after-hours trading, dragging shares in rival United Parcel Service down 2.5%. The shift to less-profitable packages is squeezing profits at FedEx and UPS. Subramaniam is leading a complex restructuring at FedEx that involves slashing billions of dollars in overheads and merging its separate Ground and Express delivery units. On an adjusted basis, profit fell to $3.60 per share from $4.55 per share a year ago.

Persons: Raj Subramaniam, Subramaniam Organizations: FedEx, United Parcel Service, UPS, Reuters, Federal, United States Postal Service, FedEx Freight Locations: Memphis, China, Shein, U.S

☆ Disney to ditch Slack following July data breach
▼ + stars: | 2024-09-19 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

The Mickey Mouse and Minnie Mouse float passes by during the daily Festival of Fantasy Parade at the Magic Kingdom Park at Walt Disney World on May 31, 2024, in Orlando, Florida. The Walt Disney Company will no longer use Slack for in-house company communication months after a hack that involved more than a terabyte of company data being leaked to the public. Representatives from Disney and Salesforce, the owner of Slack, did not immediately respond to CNBC's request for comment. "Companies also have to take the right measure to prevent phishing attacks and to lockdown their employees' social engineering," he added. Benioff noted that Disney continues to use Salesforce products in other aspects of its business including its Disney store, Disney guides, sales and service operations and its call centers.

Persons: Mickey Mouse, Mouse, Hugh Johnston, Slack, Marc Benioff, Benioff, Disney Organizations: Magic, Walt Disney World, Walt Disney Company, Disney, CNBC, Bloomberg Locations: Orlando , Florida

☆ Harris' labor split screen: From the Politics Desk
▼ + stars: | 2024-09-18 | by ( The Politics Desk | ) www.nbcnews.com time to read: +8 min

In today’s edition, we explore one positive and on negative development for Kamala Harris' support from organized labor. The influential Teamsters union on Wednesday declined to issue an endorsement in the presidential race, Megan Lebowitz and Alexandra Marquez report. Prior to the announcement, the Teamsters also released survey data showing more rank-and-file members preferred to endorse Trump than Harris. Still, Harris has won the endorsement of just about every other major labor union in the country (the International Association of Fire Fighters remains a notable holdout). Instead, the Trump campaign appears to be approaching this apparent assassination attempt as an opportunity rather than as a moment to reflect.

Persons: Kamala Harris, Chuck Todd, Harris, Megan Lebowitz, Alexandra Marquez, Natasha Korecki, Donald Trump, Joe Biden, Trump, “, Sean O’Brien, Verrett, ”, Chuck Todd There’s, We’ve, isn’t, Chuck → 🗞️, ✂ ️, eason, alf, lea Organizations: NBC, White House, Capitol, Teamsters, Democratic, Big Business, International Association of Fire Fighters, Belt . Workers, Service Employees International Union, Culinary Workers Union, AFL, SEIU Locations: California , Illinois, New York, Arizona, Georgia, Nevada, North Carolina, Butler , Pennsylvania, America

The Teamsters on Wednesday declined to endorse a candidate for president, the first time in decades that the union hasn't backed a candidate in the presidential election. It found that almost 60% of rank-and-file union members preferred to endorse Trump, while 34% backed Harris, according to an electronic member poll. The law forced union workers to accept a union contract that had been brokered by the Biden administration. The union endorsed Biden in 2020. The AFL-CIO, which represents dozens of unions and millions of workers, and the United Auto Workers union have each endorsed Harris.

Persons: Sean O'Brien, Donald, Trump, Kamala, Harris, Joe Biden, John Palmer, Biden, Hillary Clinton, Barack Obama, John Kerry, Al Gore, Karoline Leavitt, Lauren Hitt, “, ” Hitt, James P, Hoffa, ” Biden Organizations: Teamsters, Big, Trump, Democratic, American, Central, International Association of Fire Fighters, AFL, CIO, United Auto Workers Locations: America, Alabama, Central States, Michigan

Clean energy and clean vehicle companies added nearly 150,000 new jobs in 2023, the first full year of the Inflation Reduction Act, the report found. Of that total, the South added more than 54,000 clean energy jobs, accounting for 36% of all new jobs in the region. By comparison, the Midwest, Northeast and West combined added 95,000 clean energy jobs in 2023. The employment sectors analyzed in E2’s “Clean Jobs America” report include clean vehicles, renewable energy, battery storage, grid modernization and biofuels. Clean energy jobs now account for about 1 in 16 new jobs created in the U.S.E2 has released annual reports on clean energy job growth in the U.S. since 2015.

Persons: Kamala Harris, —, Donald Trump, Harris, Biden, Bob Keefe, We’re, ” Organizations: Biden, Senate, Jobs America, Republicans Locations: United States, U.S, Midwest, Northeast, Southern, Alabama, Kentucky, Oklahoma, California, Florida, Texas

Harvey Weinstein was arraigned on an additional sex crimes charge in a New York City courtroom Wednesday, roughly two months ahead of a retrial in the disgraced Hollywood producer’s landmark #MeToo case. “Thanks to this survivor who bravely came forward, Harvey Weinstein now stands indicted for an additional alleged violent sexual assault,” Bragg said. “This investigation is ongoing.”In all, more than 80 women have accused Weinstein of sexual assault or harassment going back decades. (He was acquitted of two counts of predatory sexual assault and a count of first-degree rape.) (The jury acquitted him of a count of sexual battery by restraint and failed to reach a verdict on three other sexual assault counts.)

Persons: Harvey Weinstein, Weinstein, Attorney Alvin Bragg, ” Bragg, Jessica Mann, Mimi Haley, Gloria Allred, “, Mann, Harvey, ” Mann, retry Weinstein, Oscar, ”, Love Organizations: Hollywood, New, Attorney, Manhattan, Bellevue Hospital, Miramax, The New York Times, Yorker Locations: New York City, Manhattan, New York, New, York, Los Angeles, Angeles

Haiti clearly holds a place in the heart of Ohio’s Republican Gov. He’s been to the country at least 25 times with his wife, he said at a news conference Monday in Springfield. He respects the Haitians who have come to the US legally and found work in Springfield. Further, DeWine said the Haitians found Springfield because business owners there were having trouble finding workers after the Covid-19 pandemic. Like DeWine, Springfield Mayor Rob Rue has also tried very hard to correct the record on the role Haitians are playing in Springfield.

Persons: Mike DeWine, He’s, “, ”, DeWine, ” DeWine, Donald Trump, Ohio Sen, JD Vance, Vance, Springfield Mayor Rob Rue, ” Rue Organizations: Republican Gov, PBS, Republican, Ohio, Springfield Mayor Locations: Haiti, Springfield, Ohio, DeWine, Springfield , Ohio

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