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☆ Macron has taken a radical gamble that could backfire
▼ + stars: | 2024-06-10 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewFrench President Emmanuel Macron shocked the world on Sunday by calling a snap election in France. The move came after a big win for his rival Marine Le Pen's National Rally party at the European parliamentary elections. AdvertisementHowever, the snap election could likely end the current coalition, which comprises Macron's party, Renaissance, the Democratic Movement, Horizons, En commun, and the Progressive Federation. Macron may have to form a cohabitation government with a prime minister from an opposition party, such as the National Party or Les Republicains. AdvertisementRepresentatives for President Macron did not immediately respond to a request for comment.

Persons: —, Emmanuel Macron, There's, Daniel Hamilton, Johns Hopkins University SAIS, France's, Macron, I've, Pen, Alain Duhamel, Bruno Cautrès, Antonio Barroso Organizations: Service, Business, Foreign, Institute, Johns Hopkins University, CNBC, Guardian, Cac, Financial Times, Democratic Movement, Progressive Federation, National Party, Sciences Po Locations: France, Paris

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

☆ U.N. Security Council Passes U.S.-Backed Cease-Fire Resolution
▼ + stars: | 2024-06-10 | by ( Michael Crowley | ) www.nytimes.com time to read: +6 min

Ambassador Linda Thomas-Greenfield and other members of the United Nations Security Council voted on the resolution. The U.N. Security Council on Monday adopted a U.S.-backed cease-fire plan for the Gaza Strip after Russia opted not to block it, adding extra heft to a growing international push for an end to the fighting. In passing the resolution, the Council delivered a diplomatic victory to Washington, which had vetoed three previous cease-fire resolutions before the Council. Russia and China and Algeria, the only Arab member of the Security Council, had said in back-channel negotiations that the text appeared too lopsided in favor of Israel. Ever since the war started eight months ago, the Security Council has been in a deadlock over finding a way to end the conflict and fulfill its mandate to uphold international peace and stability.

Persons: Linda Thomas, Greenfield, ”, Thomas, Israel, “, Reut Shapir Ben, Naftaly, Ms, Shapir Ben, Vasily Nebenzya, Nebenzya, Biden, Nate Evans, Evans, “ Israel, Marko Djurica, Benjamin Netanyahu, Fu Cong Organizations: United Nations Security, . Security, United Nations, U.S, ., Reuters, ” Diplomats, States, Security, Security Council, United Locations: U.S, Gaza, Russia, Washington, United States, Qatar, Egypt, Russian, Israel, Tel Aviv, China, Algeria

☆ Americans tired of sky-high borrowing costs will be disappointed this week
▼ + stars: | 2024-06-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Another month, another hot jobs report that has Wall Street wondering when the Federal Reserve will finally cut interest rates. On the other, it puts long-awaited interest rate cuts from the Federal Reserve on the back burner. Before the Bell: Do you think the Fed could lower its projection for three quarter-point rate cuts this year? Is it concerning that the European Central Bank and Bank of Canada have begun cutting rates before the Fed? A Samsung spokesperson told CNN that, “there is no impact on production and management activities” as a result of the one-day walkout.

Persons: Bell, Nate Thooft, I’m, that’s, Yoonjung Seo, —, Son Woomok, Matt Egan, Lina Khan, Beam, Robinson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Manulife Investment Management, Reserve, European Central Bank, Bank of Canada, European Central Bank and Bank of Canada, Workers, Samsung Electronics, Nationwide Samsung Electronics Union, CNN, Reuters, Samsung, SK Hynix, Micron Technology, Federal Trade Commission, Southern, Biden, FTC, Politico Locations: New York, South Korea, Miami, United States

☆ An activist investor with a new $1.9 billion stake in Southwest is calling for big changes at the airline
▼ + stars: | 2024-06-10 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

However, Elliott Investment Management said Monday that the airline's decades-old strategies weren't working in modern times, and it's calling for a management and board-of-directors overhaul as part of a plan it's calling "Stronger Southwest." This story is available exclusively to Business Insider subscribers. Elliott said Southwest leadership had a "rigid commitment" to the model it dreamed up decades ago, blaming that for today's shortcomings. Elliott Management, which oversees $66 billion in assets, is one of the world's most feared activist hedge funds. "The significant investment we have made reflects our conviction that, with the right leadership, Southwest can regain its status as an industry-leading airline."

Persons: —, Elliott, Elliot, Raymond James, Savanthi Syth Organizations: Service, Airlines, Elliott Investment Management, Business, Southwest, Elliott Management, Texas Instruments

☆ France’s Macron bets big and stares down the far right
▼ + stars: | 2024-06-10 | by ( Saskya Vandoorne | Joseph Ataman | ) edition.cnn.com time to read: +8 min

When Jordan Bardella, the leader of the far-right National Rally party, called on Macron to dissolve the French national parliament on Sunday night, it seemed like political posturing, riding high on his victory in European polls. Calling the far right’s bluffMacron will try to rally the right and left, urging their supporters to come together and vote against the far right, but there’s no knowing if it’ll pay off. The last time a French president dissolved the country’s lower house, the National Assembly, was in 1997. French far-right leader Marine Le Pen arrives at the National Rally party headquarters on Monday, June 10, 2024 in Paris. This could see voters of different stripes banding together to oppose a candidate from the far right.

Persons: parry, Emmanuel Macron, Jordan Bardella, ”, Macron, Jacques Chirac, Stephane Séjourné, Séjourné, ” Manon Aubry, Jean, Luc Mélenchon, Marine Le Pen, Thomas Padilla, Le Pen, Pen, Bruno Le Maire, Hannah McKay, he’ll, It’ll, ” Macron, Bardella, Yaël Braun Organizations: Paris CNN, National Assembly, French, Radio France, France, National Rally, French Finance, National, RTL, Getty, Macron’s, “ Locations: France, Republic, Macron, Gaza, Paris, Europe, Macron’s, Le Touquet

☆ Market backs off on hopes for interest rate cuts following strong jobs report
▼ + stars: | 2024-06-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. Beyond signaling a still-vibrant labor market, the data at the very least adds to the narrative that the Fed doesn't have to rush to lower interest rates. Even with the unemployment rate rising to 4% in May, the labor market appears vibrant. However, on the other side of the mandate, inflation is still running well above the Fed's target. Most gauges have prices rising annually at about a 3% rate, down significantly from the peaks of mid-2022 but still running hot.

Persons: I've, Liz Ann Sonders, Charles Schwab Organizations: New York Stock Exchange, Federal Reserve, Labor Statistics Locations: New York City

☆ CNBC's Inside India newsletter: Modi's loss could be India's gain
▼ + stars: | 2024-06-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersThis report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Far from rewarding Prime Minister Narendra Modi's party with a supermajority — as polls had predicted — Indians elected 240 BJP lawmakers to India's 543-seat Parliament, which falls short of a simple majority for Modi's party. However, as the largest party, the BJP will form a coalition government thanks to its alliance with smaller parties ahead of the elections. This "radical transformation" is expected to lead to a significantly more efficient economy and help India's currency, according to Sullivan.

Persons: Narendra Modi, Adnan Abidi, Narendra Modi's, Modi, Gavekal, Tom Miller, Udith Sikand, Malcolm Dorson, Aastha Gudwani, who's, India's, Morgan, Ridham Desai, Will, Goldman Sachs, Abhiram Eleswarapu, Eleswarapu, Tanvir Gill, Sri Jegarajah, Sumathi Bala, Seema Mody, Amala Balakrishner, Vinay Dube, could've, James Sullivan, Sullivan Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, CNBC, Global, of America, Gavekal Research, India Active, BNP, CNBC Pro, JPMorgan, U.S . Federal Locations: New Delhi, India, CNBC's

☆ Why a five-day return to office is unlikely, Stanford economist says
▼ + stars: | 2024-06-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The five-day, in-office workweek is antiquated for a large share of workers, a relic of the pre-pandemic job market. "Remote work is not going away," said Nick Bloom, an economics professor at Stanford University who studies workplace management practices. Remote work is not going away. Nick Bloom economics professor at Stanford UniversityHis research suggests workers value hybrid work about the same as an 8% raise. 'Firms care about profits, not productivity'In addition, hybrid work doesn't appear to have any negative impact on workers' productivity, Bloom said.

Persons: Justin Paget, Digitalvision, Nick Bloom, workdays, lockdowns, Nick Bunker, Martin, Bloom, Bunker, it's, flexibly Organizations: Stanford University, Research, Finance, Employers, U.S, McKinsey, University of Pittsburgh

☆ Middle-class Americans are falling behind
▼ + stars: | 2024-06-06 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Middle-class income growth has lagged behind that of the upper class since 1970, according to a Pew Research Center report published May 31. There are signs that middle-class Americans are dialing back their spending. Fast food joints, a mainstay dining destination for middle-income consumers, are leaning into discounts to placate frustrated diners. Kohl’s that same month reported weak first-quarter results, underlining how middle-income consumers are pulling back spending on non-essential clothing and discretionary merchandise at department stores. Economic growth has been anemic in recent years, squeezing living standards and starving public services of funds.

Persons: ”, Jennifer Jones Austin, Thomas Kingsbury, Narendra Modi, Diksha Madhok, Peeyush Mittal, Modi, ” Shilan Shah, ” Read, Hanna Ziady, Rishi Sunak, Sunak, Keir Starmer, Tony Blair, Starmer Organizations: CNN Business, Bell, New York CNN, Pew Research, Living Coalition, Data, Bureau of Labor Statistics, Matthews Asia, Bharatiya Janata Party, BJP, Capital Economics, Conservative Party of, European Union, Labour Party, National Health Service, Labour, Conservative Party Locations: New York, India’s, India, United Kingdom, China, San Francisco, Beijing, Washington, Ukraine

☆ Virginia Gov. Glenn Youngkin talks dropping EV mandate in his state
▼ + stars: | 2024-06-05 | 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 EmailVirginia Gov. Glenn Youngkin talks dropping EV mandate in his stateHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Glenn Youngkin, Brian Sullivan, “ Organizations: Virginia, CNBC

☆ Modi's economic agenda could be disrupted after smaller-than-expected mandate in India election
▼ + stars: | 2024-06-05 | 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 EmailModi's economic agenda could be disrupted after smaller-than-expected mandate in India electionCNBC's Sri Jegarajah reports on the reaction to India's election results, which saw Prime Minister Narendra Modi win a third term in office, but with a smaller-than-expected mandate, forcing him to rely on his coalition partners going forward.

Persons: Narendra Modi Locations: India

☆ Dollar finds footing as traders turn to U.S. services data
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +3 min

US Dollar notes and euro coins are arranged for a photograph on Sept. 11, 2017. The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data. Japanese real wages fell for a 25th straight month in April, data on Wednesday showed, as inflation outpaces nominal pay rises. The Swiss franc rose for a fourth straight session on the dollar overnight and at 0.8902 per dollar is close to breaking through its 200-day moving average. The New Zealand dollar was steady at $0.6173, while the Canadian dollar held the middle of a months-long range at C$1.3678 per dollar.

Persons: Jane Foley, Ryozo Himino, Narendra Modi, Chris Weston Organizations: Swiss, Bloomberg News, Bank of, Rabobank, BOJ, Westpac, New Zealand, African National Congress, Morena Locations: Canada, U.S, Bank of Japan, Asia, Japan, Morena

☆ India's stock markets erase $371 billion after ruling BJP falls short of election expectations
▼ + stars: | 2024-06-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The All India Market Capitalization index , tracked on the Bombay Stock index, lost over 31.06 trillion rupees, or about $371 billion on June 4 alone. India's markets saw their worst one-day loss in about four years as the electoral performance of Prime Minister Narendra Modi's ruling Bharatiya Janata Party fell short of expectations. The BJP-led National Democratic Alliance (NDA) coalition, however, clinched 294 seats, managing to retain the parliamentary majority, crossing the 272 required to form the government. In the previous general election in 2019, the BJP secured 303 seats, and the NDA won 353 seats. A Goldman Sachs report issued early Wednesday said that "even with a reduced majority, we don't think macro stability will be compromised."

Persons: Narendra Modi's, Modi, Goldman Sachs, — Organizations: Bombay Stock Exchange, Bombay, BSE, Bharatiya Janata Party, BJP, National Democratic Alliance, Developmental Inclusive Alliance coalition, Indian National Congress, Goldman Locations: Bombay, Mumbai, India, INDIA, Lok

☆ India’s economic boom won’t be derailed by its election shock
▼ + stars: | 2024-06-05 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —Narendra Modi has declared victory in India’s election but he’ll need the support of smaller parties to govern, a shock result that could make it harder for him to pass major economic reforms. Experts have highlighted land reform as an example of policies that might now be tougher for Modi to implement. India will need to address those issues if it is to capitalize on the massive rethink underway among companies on supply chains. Despite the surprise electoral setback for Modi’s right-wing, Hindu-nationalist Bharatiya Janata Party (BJP), experts say the world’s fastest growing major economy will continue to live up to its billing. The party’s underperformance led to a plunge on India’s stock market, which had its worst day in four years Tuesday.

Persons: New Delhi CNN — Narendra Modi, ”, Peeyush Mittal, Modi, ” Shilan Shah, underperformance, Aditya Suresh, Shah, Malcolm Dorson, It’s Organizations: New, New Delhi CNN, Matthews Asia, Apple, Foxconn, Bharatiya Janata Party, BJP, Capital Economics, Investors, Macquarie Capital, Unified Locations: New Delhi, United Kingdom, India, China, San Francisco, Beijing, Washington, United States, Western

☆ Modi's weaker-than-expected election win raises questions over his economic and political agenda
▼ + stars: | 2024-06-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. he said, adding Modi will likely have an "uneasy relationship" with its coalition partners. Veteran investor David Roche called the election outcome an exercise of "karma," adding that this was Modi's election to lose. The party suffered some of its high-profile losses here, with political BJP heavyweights like Smriti Irani among others, losing their seats. A 'humbling moment'Going into the election, Modi's popularity endured despite India's economic problems such as high youth unemployment, inflation and income inequality.

Persons: Narendra Modi, Adnan Abidi, Modi, Neelanjan Sircar, We've, Sircar, CNBC's, —, David Roche, Roche, Smriti Irani, overreach, he's, Michael Kugelman, Wilson Organizations: Indian, Bharatiya Janata Party, BJP, Centre for Policy Research, Indian National Congress, Developmental Inclusive Alliance, Independent, South Asia Institute Locations: New Delhi, India, INDIA, Uttar Pradesh, Ayodhya, Faizabad, Maharashtra, Rajasthan

☆ Why Biden’s escalation on Trump guilty verdict is so significant
▼ + stars: | 2024-06-04 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Other Trump cases are in suspended animationTwo federal cases against Trump, in which he’s also pleaded not guilty, are in a holding pattern. At the same time, multiple disputes in pre-trial motions have put the looming federal trial in Florida over Trump’s alleged mishandling of classified documents into suspended animation. But if Trump wins, he could appoint an attorney general who could halt the federal cases in their tracks. Garland is also likely to face scrutiny over the Hunter Biden trial. Republicans celebrated when a plea deal, which they saw as “sweetheart” treatment for Hunter Biden, collapsed in court.

Persons: Joe Biden’s, Donald Trump, ”, ” Biden, Hunter, Biden, Trump, Fani Willis, —, ’, Willis, he’s, Jack Smith’s, Aileen Cannon, Ty Cobb, CNN’s Erin Burnett, “, it’s, ” Cobb, Cobb, Hunter Biden, who’s, marveling, Joe Biden, Biden’s, Juan Merchan, “ I’m, Adam Schiff, Kasie Hunt, General Merrick Garland, Garland, Robert Hur’s, New Jersey Democratic Sen, Robert Menendez Organizations: CNN, Republican, Democratic, Republicans, Trump, Georgia, US, Department, Trump White House, Fox News, Capitol, California Democrat, House Republicans, New Jersey Democratic Locations: Connecticut, New York, Georgia, Fulton County, Florida, York, Delaware, Trump, “ State, California, Washington

☆ A Wisconsin mom of 3 who made $250,000 secretly working 2 remote jobs said it allowed her husband to leave a stressful job and become a stay-at-home dad
▼ + stars: | 2024-06-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

For 18 months between 2020 and the end of 2021, Lisa secretly worked one fully remote job and a second hybrid job. When pandemic conditions eased, she thought her fully remote employer would pivot to a hybrid work schedule — and managing two hybrid jobs seemed impossible. Advertisement"It was a good career move at a time when I thought that remote work was going to disappear," she said. Lisa said she'd consider job juggling again if she could find two fully remote jobs that checked most of her boxes. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Lisa, who's, they'll, who've, It's, Lisa didn't, she'd Organizations: Service, Business, Bureau of Labor Statistics Locations: Wisconsin

India's Prime Minister Narendra Modi flashes victory sign at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Completed vote counts by the Election Commission of India showed that Modi's BJP won just 240 seats. India's Parliament has 543 seats, and the party or coalition that wins at least 272 forms the government. Modi's decade-long ruleUnder Modi, India, home to 1.4 billion people, has witnessed robust economic growth. While India has seen robust economic growth under Modi, observers and critics have warned about the country's "democratic decline."

Persons: Narendra Modi, Money Sharma, Modi, Aiyar, CNBC's, Shilan Shah, Shah, Kranthi, Sensex, Samir Kapadia, that's, Malcolm Dorson Organizations: India's, Bharatiya Janata Party, BJP, Afp, Getty, Indian, Modi's BJP, National Democratic Alliance, Developmental Inclusive Alliance, Indian National Congress, Policy Research, Centre, Monitoring, Capital Economics, BSE, WealthMills Securities, Adani, Adani Enterprises, State Bank of India, ICICI Bank, Monetary Fund, India Index, Vogel, Dem, Global, Vogel Group, IMF Locations: New Delhi, India, INDIA, China, Sweden

☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ Holocaust Museums Debate What to Say About the Israel-Hamas War
▼ + stars: | 2024-06-03 | by ( Dana Goldstein | Marc Tracy | ) www.nytimes.com time to read: 1 min

At a Holocaust museum in Atlanta, staff members had typically ended their tours by saying that many survivors of the death camps immigrated to Palestine. But after the start of the Israel-Hamas war, the guides noticed that some students would ask a simple but complicated question: Is this the Palestine that we’ve been hearing about? So staff members at the museum, the Breman, made a few changes, according to Rabbi Joseph Prass, the museum’s education director. Now, docents explain to visitors that many Holocaust survivors found refuge in “the British Mandate of Palestine” or “the area that would become the country of Israel.”

Persons: we’ve, Rabbi Joseph Prass, ” Locations: Atlanta, Palestine, Israel, British

☆ Who will win India’s general election and become the new prime minister? Votes get counted in world’s largest election
▼ + stars: | 2024-06-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

Some 642 million people cast their vote in the world’s largest election, as swathes of the country was blanketed in searing heat, making people sick and killing dozens. India's Prime Minister Narendra Modi shows his ink-marked finger after casting his vote outside a polling station in Ahmedabad, India, on May 7, 2024. The leader of the party that wins a majority will become prime minister and form a ruling government. His BJP centered its manifesto on job creation and anti-poverty programs, with a focus on women, the poor and farmers. He’s promised to turn India into a developed nation by 2047 and transform the country into a global manufacturing hub.

Persons: Narendra Modi, India’s, Adnan Abidi, Modi, He’s, God, –, Rahul Gandhi, Gandhi, Raj K Raj, Arvind Kejriwal, ” Organizations: CNN, Bharatiya Janata Party, BJP, Indian National Congress, India's, Reuters, National Democratic Alliance, Congress, Hindustan Times, Aadmi Party Locations: India, –, Lok Sabha, Asia, United States, China, Russia, Ahmedabad, Kerala, Uttar Pradesh, Lok, New Delhi, Delhi

☆ Nigeria plunged into darkness as union workers shut down national grid in minimum wage protest
▼ + stars: | 2024-06-03 | by ( Nimi Princewill | ) edition.cnn.com time to read: +4 min

Cane-swinging union workers were also seen in photos circulating on social media Monday ordering personnel of the country’s tax agency out of their offices. This strike comes after failed negotiations with the government to raise the federal minimum wage. The unions’ demands include raising the minimum wage from 30,000 naira ($22.4) to 494,000 naira ($369.6). Despite being Africa’s fourth-largest economy, Nigeria’s minimum wage is not among the continent’s top ten, lagging far behind countries like Seychelles, where workers receive a minimum wage of $465.4 monthly. 30k or 60k minimum wage in 2024 Nigeria is unsustainable and unacceptable,” wrote lawyer Festus Ogun in a post on X.

Persons: Bayo Onanuga, Onanuga, Olusina Ajidahun, “ I’m, ”, Lateef Fagbemi, Festus Ogun, Dipo Awojide, Bola Tinubu’s, Ajuri Ngelale Organizations: CNN, Transmission Company, Nigeria, Nigerian Labor Congress, Trade Union Congress, TUC, TCN, Health, Healthcare, Nigerian, Onanuga, NLC Locations: Nigeria, Seychelles, Lagos, Abuja, Nigerian

☆ A homeless advocate of 40 years says finding homes for unhoused New Yorkers with vouchers has never been so hard
▼ + stars: | 2024-06-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

And the biggest program to help those in need of homes — the federal housing voucher system — isn't keeping up. With city shelters struggling, the government has set up more than 200 emergency shelters to house migrants, including in former jails and hotels. Greenberg said he decided to seek out homeless voucher holders after hearing from those who'd had an excruciating time finding an apartment. Ed Jones/Getty ImagesThe Interfaith Assembly set up a pilot program about six months ago to help homeless voucher holders find homes. Advertisement"I've spoken to landlords who want housing voucher holders, who've experienced some real damage to their apartments," Greenberg said.

Persons: —, Marc Greenberg, Greenberg, We're, Eric Adams, who'd, Ed Jones, they're, who've Organizations: Service, Coalition, Business, York, Interfaith Assembly, Homelessness, New, Apple, . New York, Assembly, Washington State Locations: York City, New York City, New York, . New, Oregon

☆ Luxury homebuyers can now get an art collection as part of the deal
▼ + stars: | 2024-05-31 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +5 min

Los Angeles real estate company The Agency is selling homes complete with artwork and furniture. Lester, a partner at real estate firm The Agency, is currently selling several new-build luxury homes in Beverly Hills designed by architecture firm Olson Kundig, and has a put together a "full collection" of art in a handful of them. Seen here is the interior of a home that is part of a collection known as The Houses at 8899 Beverly. Rather than simply being "staging" pieces brought in temporarily, the art and furniture is also available to purchase, Lester said. Artelier commissioned a collection of artwork for the public areas at One at Palm Jumeirah, Dorchester Collection, a residential building in Dubai.

Persons: Shaina McCoy, Nils Timm, Paul Lester, Lester, Olson Kundig, Beverly —, Michelle Mary Lee, Irvin Pascal, David Knowles, Knowles, Artelier, Fenton Whelan, Renzo Piano, they've, Kristy Kun Organizations: Agency, CNBC, Los, Beverly, Lazaros, The Agency, Creative Art Partners, London Locations: Angeles, Los Angeles, Beverly Hills, British, Eaton Place, London, Hyde, Dubai, Miami, Jumeirah, Dorchester

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