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☆ Automakers are using a legal loophole to get customers an extra $7,500 tax credit — and business is booming
▼ + stars: | 2023-03-09 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Automakers might pass along the commercial EV credit to customers that lease their EVs. Last summer's Inflation Reduction Act introduced rules for new and used EVs to qualify for crucial tax credits. Startup Lucid, along with at least 10 "traditional" automakers, are leveraging the commercial credit, according to data from J.D. Meanwhile, automakers are interested in leasing EVs in part due to the commercial and used EV tax credits. Being able to pass along the commercial EV credit could bring in customers that might not have otherwise considered electric.

☆ Oxy CEO Vicki Hollub doesn't seem worried about White House pressure on buybacks, oil prices
▼ + stars: | 2023-03-07 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

That new fiscal approach from the energy patch has not made the White House happy, especially when oil prices and oil company profits were at a peak last year. Gas prices are right where they should be right now, she says, and are likely to stay this way. If there is risk to gas prices this year, it's to the upside. Amid high gas prices last year, the Biden administration released the most oil from the Strategic Petroleum Reserve on record, 180 million barrels. Among the reasons oil prices will remain higher?

☆ Exclusive: As 2024 election approaches, White House jumps into states' abortion battles
▼ + stars: | 2023-03-06 | by ( Nandita Bose | ) www.reuters.com time to read: +7 min

The previously unreported, behind-the-scenes effort has caught the attention of state lawmakers for the level of support offered by the administration. In some cases, the White House is leaning on key lawmakers in states with important abortion-related legislative fights this session. North Carolina is a special focus where the White House thinks it has the opportunity to fend off restrictions, one of the White House officials said. Republicans have largely shrugged off White House efforts at beating back efforts to limit abortion rights. The White House sees three different approaches to defend abortions rights and has broken down states into what they call either "battleground," "extremist" or "proactive" states, White House officials and advisors say.

☆ Expect this summer's debt ceiling debate to drive stocks lower, says Reynolds Strategy's Brian Reynolds
▼ + stars: | 2023-03-06 | 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 EmailExpect this summer's debt ceiling debate to drive stocks lower, says Reynolds Strategy's Brian ReynoldsJason Brady, Thornburg Investment Management CEO, and Brian Reynolds, Reynolds Strategy chief market strategist, join 'The Exchange' to discuss the direction of the economy and the markets.

☆ Medical tourism looking sickly as patients watch their spending
▼ + stars: | 2023-02-27 | by ( Joanna Plucinska | ) www.reuters.com time to read: +5 min

"People are more cautious," Knott told Reuters, staring at the empty building across the street from his existing Kreativ Dental clinic. Rising air fares and fewer flights - and the memory of last summer's travel chaos - are also putting off would-be patients, clinic operators and analysts told Reuters. A hip or knee replacement at Nordorthopaedics in Lithuania is about 15% more expensive now than five years ago, the clinic told Reuters. Lyfboat, an Indian company providing medical services for foreign patients, told Reuters it has collaborated with a fundraising platform called ImpactGuru to help patients pay for essential surgeries. ACUTE VS ELECTIVEThe International Medical Travel Journal, published by market intelligence service LaingBuisson, estimates the medical tourism market is currently worth around $21 billion, less than pre-pandemic, although editor Keith Pollard warned data is poor.

☆ Hollywood producers honor Tom Cruise and 'Everything Everywhere'
▼ + stars: | 2023-02-26 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

BEVERLY HILLS, Calif., Feb 25 (Reuters) - Hollywood producers celebrated Tom Cruise's career and handed their top film honor to multiverse adventure "Everything Everywhere All at Once" on Saturday at one of the key awards ceremonies ahead of next month's Oscars. The Producers Guild of America honored Cruise with a lifetime achievement award, and several speakers thanked the actor for boosting the pandemic-hobbled movie business with last summer's blockbuster "Top Gun: Maverick." "Tom Cruise showed all of us that moviegoing was back," Sherry Lansing, the former CEO of Paramount Pictures, said in her introduction. The 60-year-old Cruise rose to fame as the star of "Risky Business," "Cocktail," "A Few Good Men" and other films. As he accepted his award, Cruise applauded the work of the TV and film producers in the audience.

☆ The stock market's euphoric rally has been a head fake, Wall Street's top strategists warn
▼ + stars: | 2023-02-25 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

The year-to-date rally can't last, according to Morgan Stanley's chief US equity strategist. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. He added: "This is a perfect analogy for where equity investors find themselves today, and quite frankly, where they've been many times over the past decade." Goldman Sachs' chief US equity strategist David Kostin has said he is also skeptical of the market's gains so far in 2023. Meanwhile, JPMorgan's top stock strategist Marko Kolanovic, a long-time equities bull, says investors should ditch stocks because a recession is coming.

REUTERS/Cole Burston/File PhotoFeb 24 (Reuters) - Airports are taking steps to avoid gridlock during the upcoming holiday travel seasons, with some limiting flights during peak hours to avoid the long lines and luggage piles that marred last summer. While smoother holiday travel is expected for Europe and North America, airlines and airports which learned tough lessons on holiday travel in 2022, are taking a more prudent approach as global traffic rebounds roughly to pre-pandemic levels. Despite extensive planning and hiring this year, some airlines and airports are still wrestling with industry staff shortages, including baggage handlers. Germany's Lufthansa AG (LHAG.DE) said it has cut summer flights by an unspecified amount due to shortages of personnel like ground handlers at airports in Frankfurt and Munich. U.S. Customs and Border Protection and the Canada Border Services Agency were not immediately available to comment on staffing.

☆ Crocs breaks out, sheds its post-pandemic blues
▼ + stars: | 2023-02-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrocs breaks out, sheds its post-pandemic bluesMad Money host Jim Cramer talks to Crocs CEO Andrew Rees about the company's bounce since last summer's lows, including some big gains after the company reported an excellent quarter last week.

☆ Italy faces new drought alert after another dry winter
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 20 (Reuters) - Weeks of dry winter weather have raised concerns that Italy could face another drought after last summer's emergency, with the Alps having received less than half of their normal snowfall, according to scientists and environmental groups. Italian rivers and lakes are suffering from severe lack of water, the Legambiente environmental group said on Monday, with attention focused on the north of the country. Last July Italy declared a state of emergency for areas surrounding the Po, which accounts for roughly a third of the country's agricultural production and suffered its worst drought for 70 years. "We need to recover 500 millimetres in the north-western regions: we need 50 days of rain," he added. Latest weather forecasts do however signal the arrival of much-needed precipitation and snow in the Alps in coming days.

☆ A former BlackRock stock chief says he thinks the S&P 500 will fall another 17% as investors ignore a growing mountain of tell-tale recession signals
▼ + stars: | 2023-02-18 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Doll says the S&P 500 will drop to 3,400 if a mild recession unfolds. If a more normal recession (more severe than a mild downturn) comes, Doll said the index could fall to 3,000. The Fed's recession probability tracker based on the yield curve also now puts the odds of a recession at 57%. Subramanian expects the S&P 500 to fall as low as 3,000, a view shared by Morgan Stanley's Mike Wilson. If trouble hits, like Doll and much of Wall Street expects, stocks could extend their fall to new lows.

☆ Wall Street luminaries say it's time to get out of the stock market before the Fed crushes the economy
▼ + stars: | 2023-02-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Tuesday's CPI data showed inflation climbed 0.5% in January, slightly higher than expected, and year-over-year it slowed to 6.4%. Prices, it seems, aren't cooling down as smoothly or quickly as anyone wants, especially the Fed. To Kolanovic, a recession is all but guaranteed if the Fed is serious about its 2% inflation target. And like Kolanovic, Morgan Stanley Wealth Management investment chief Lisa Shalett warned that Fed policy is going to pull stocks lower. US stock futures fall early Wednesday, as investors pick over yesterday's CPI inflation report to assess what it means for the Fed.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

☆ Sticky underlying inflation set to keep ECB on its toes
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +4 min

The drop in headline inflation is unlikely to expunge concerns among conservative policymakers that rapid price growth is becoming entrenched, a worry reinforced by high underlying inflation on Wednesday. Inflation excluding volatile food and fuel prices picked up to 7% from 6.9% while an even narrower measure watched closely by the ECB held steady at 5.2%, exceeding forecasts for 5.1%. Underlying inflation was driven by a jump in processed food and industrial goods prices but services inflation, a key worry because it reflects wage growth, eased a touch. Euro zone unemployment held steady at 6.6% in December, its lowest rate on record, separate data showed on Wednesday. Markets now expect ECB rates to peak at 3.5%, the highest rate in over 20 years, suggesting another 100 basis points of hikes after Thursday's move.

☆ Suicide bomber kills 28, wounds 150 at mosque in NW Pakistan
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +4 min

Security personnel cordon off the site of a mosque blast inside the police headquarters in Peshawar on January 30, 2023. Police between 300 to 350 worshipers were inside the mosque when the bomber detonated his explosives. A survivor, 38-year-old police officer Meena Gul, said he was inside the mosque when the bomb went off. Former Prime Minister Imran Khan also condemned the bombing, calling it a "terrorist suicide attack" in a Twitter posting. Pakistan has witnessed a surge in militant attacks since November when the Pakistani Taliban ended their cease-fire with government forces.

☆ Investors should ignore this rally and play defense with these ETFs, BlackRock strategist says
▼ + stars: | 2023-01-25 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Investors should avoid being lured back into riskier stocks and funds by this January rally, according to a strategist at BlackRock. Wall Street is off to a solid start in 2023, with all three major averages positive in January. But the rally petered out and the broad market index fell back to a new bear market bottom, below 3,600, in October. .SPX mountain 2022-06-01 The stock market enjoyed a short-lived rally last summer. If Chaudhuri is right, investors may be well served to stick with some of the strategies that worked last year.

☆ Electric car-makers have found a legal loophole to get their customers an extra $7,500 tax credit
▼ + stars: | 2023-01-25 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The commercial EV credit comes with way fewer requirements that are far less difficult to achieve — and it could be a clever workaround for the passenger vehicle space. Finding a workaroundThe commercial credit was designed to incentivize commercial fleets to electrify. Lucid vehicles don't qualify for the new EV credit given they are priced at higher than the MSRP cap requirements. If an EV is eligible for the new tax credit through a vehicle purchase, it cannot take the credit if leased. If an EV is only eligible for the commercial tax credit through a lease, it cannot take a credit if purchased.

☆ Box office hits 'Everything Everywhere,' 'Elvis' and 'Avatar' land Oscar nominations
▼ + stars: | 2023-01-24 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

"Everything Everywhere," a science-fiction flick about an exasperated Chinese immigrant struggling to finish her taxes, landed 11 nominations, including best picture and four acting nods. Other films in the hunt for the top trophy at the Academy Awards included sequel "Avatar: The Way of Water," James Cameron's visual spectacle that currently ranks as the sixth-highest grossing movie of all time. Last year's Academy Awards ceremony, when Will Smith slapped presenter Chris Rock before winning best actor, drew about 15.4 million TV viewers, the second-smallest audience ever. Apple TV+ (AAPL.O) nabbed best picture last year for heartwarming drama "CODA." This time, Disney received the most nominations, a total of 22, for movies including "Avatar," "Banshees" and animated "Turning Red."

☆ The 10 best cities to buy a home in 2023 are all in the South
▼ + stars: | 2023-01-22 | by ( Mike Winters | ) www.cnbc.com time to read: +5 min

The median price of homes in some of these markets isn't cheaper than the national median of $398,500. However, these cities scored high on other metrics such as job growth or housing supply. Here are the 10 best places to buy a home in 2023, according to NAR:1. However, this fast-growing market has strong migration gains and job growth that is nearly twice the national average. Just under 30% of renters can afford a typical home with a 10% down payment, which is almost twice the national average.

☆ The used electric car market is starting to take off as prices slowly drop
▼ + stars: | 2023-01-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

At first glance, today's product pipeline might not paint a good picture for the future of the used EV market. "If what we've produced in the last couple of years has been a rich mix, when that goes into the used market, that keeps used prices elevated as well," Dziczek said. Overall declines for used vehicle prices also generally apply to used EVs. Used EVs remain more expensive than used gas-cars, and many might not yet qualify for the used EV tax credit based on its price cap. Dealers are starting to feel incentivized to drop used EVs priced close to the cap to just below it.

☆ Analysis: Tencent bets big on WeChat Channels in push to build its own TikTok
▼ + stars: | 2023-01-13 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

"Tencent hopes it can turn Channels into the next WeChat Pay. Two sources familiar with Tencent said the importance of Channels has been repeatedly communicated within the company. In November, Tencent President Martin Lau said Channels' advertising revenue was on track to reach 1 billion yuan in the fourth quarter of 2022. "For example, in Douyin or Kuaishou, you won't be able to ask your viewers to add you on WeChat. But on Channels, you can quickly add somebody on WeChat," Yang said.

☆ Ryanair CEO sees high single digit air fare rise in 'very strong' summer
▼ + stars: | 2023-01-12 | by ( Angelo Amante | ) www.reuters.com time to read: +3 min

[1/4] Ryanair CEO Michael O'Leary poses for a photo after an interview with Reuters in Rome, Italy, January 12, 2023. "The outlook for the summer at the moment is very strong, strong booking, strong pricing," the CEO of Europe's largest airline by passenger numbers said in an interview after announcing new routes from Italy. "I think there is a reasonable prospect that this summer again we will see high-single digit price increases, certainly for short-haul European air travel," he said, despite risks from new variants of the coronavirus and adverse developments in Ukraine. "We don't worry too much about recession or consumer spending because that would drive more and more people to low cost airlines like Ryanair," he added. ($1 = 0.9265 euros)Reporting by Angelo Amante, editing by Jane Merriman and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street's competitive and rigorous internship process could use a facelift
▼ + stars: | 2023-01-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Wall Street's version of the Hunger Games — nabbing a summer internship at an investment bank — is about to kick off. Thousands of college students are eagerly refreshing investment banks' careers pages awaiting applications to open for internships for the summer of 2024. (Yes, you read that right, this summer's internship spots have already been wrapped up for a while.) It's a process that results in young people making decisions that will set them on a certain path for years to come. Despite a difficult end to the year for the bank thanks to a costly fine, Wells' investment bank was actually among the top 10 advisors in M&A in 2022, Bloomberg reports.

☆ A 24-year-old stock trader who made over $1.4 million in 2 years shares the key shift that he says allowed him to have a 60% win ratio
▼ + stars: | 2022-12-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Matthew Monaco learned that day trading is largely a mental process. It took him another few years of saving money and taking online trading courses before he was able to try again. A key shiftHe believes there was one key shift that helped him achieve a majority win, which was learning how to properly lose. The irony is that day trading tends to attract people that just want to get rich quickly, which is the type of mentality that will lead you to lose, he said. And with that, if they have a losing month, a losing week, a losing year, they're not deterred.

☆ Rep. Zoe Lofgren crashed Proud Boy Enrique Tarrio's January 6 deposition to ask why he called her the C-word on Telegram
▼ + stars: | 2022-12-24 | by ( Laura Italiano | ) www.businessinsider.com time to read: +9 min

Rep. Zoe Lofgren interrupted the Proud Boys' Enrique Tarrio's Capitol-riot deposition. "I see that Ms. Lofgren has come onto video," a committee lawyer whose name is redacted is recorded as saying. "I just don't understand why that's just such a big deal," Tarrio's lawyer said, dismissing Telegram as "just kind of a really nasty Irish bar scene." Tarrio told committee members: "I took it to be, like, 'Hey, the election's coming up. The Proud Boys seditious-conspiracy trial follows the November seditious-conspiracy conviction of the Oath Keepers founder Stewart Rhodes and is expected to last about six weeks.

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