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Here's why Stellantis is struggling
  + stars: | 2024-10-10 | by ( Robert Ferris | Christina Locopo | Jason Reginato | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Stellantis is strugglingMerging some of America's legacy car brands with big European ones made Stellantis the world's fifth largest automaker in 2021. Just three years later, Stellantis is struggling, and its troubles lie specifically with its North American business – home to Jeep, Ram, Dodge and Chrysler. Critics, including its own dealers, say the company raised prices too high and too fast, and didn't focus enough on making good cars. Its stock has plummeted and stakeholders are asking for its CEO to step down.
Persons: Stellantis Organizations: Dodge, Chrysler, Critics
A big jump in retail spending would be the next data point indicating a "no landing" of the economy. A no-landing scenario occurs when strong economic growth fuels inflation and hinders rate cuts. Bank of America analysts expect September retail sales data, set for release on October 17, to show a 0.8% surge. "Monthly retail sales data can be volatile. If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration," they said.
Persons: , Helene Organizations: Service, Bank of America, Bloomberg, Federal Reserve, Bank, America
FEMA for two months had to pause $9 billion meant for communities still recovering from past disasters. In this case, for nearly two months, FEMA hoarded $9 billion to make up for delayed funding from Congress. But Biden-administration officials warn of another shortfall as soon as January, especially after Hurricane Milton slammed into the Tampa area late Wednesday. "So if FEMA delays reimbursements, local governments have to bear those costs, and they may put off recovery efforts. FEMA officials have repeatedly said they have enough resources to respond to Hurricane Helene and now Hurricane Milton but declined to specify how much disaster aid remained available.
Persons: Milton, Helene, Hurricane Milton, Biden, Craig Fugate, Obama, Carlos Martín, Martín, Yucel Ors, Joe Biden, Mike Johnson, Hurricane Helene, Johnson, Ors Organizations: Hurricanes, FEMA, Service, Federal Emergency Management Agency, Hurricane, FEMA doesn't, Harvard University, National League of Cities, White, Republican, Fox Locations: Florida, Hurricane, Vermont, California, Pacific, Tampa, Washington, Louisiana, Milton, North Carolina , Georgia, South Carolina , Florida , Tennessee, Virginia, Asheville , North Carolina, Asheville
Watch Thursday's full episode of Fast Money — October 10, 2024
  + stars: | 2024-10-10 | 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 EmailWatch Thursday's full episode of Fast Money — October 10, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Indexes slipped Thursday as investors priced in a higher-than-expected inflation reading. The data raises the possibility of a "no landing" scenario for the US economy. AdvertisementStocks fell on Thursday from records reached in the previous session, as traders took in a sticky inflation reading for September. September consumer price index data released on Thursday showed inflation rose 2.4% year-over-year, slightly above consensus forecasts of a 2.3% rise. AdvertisementThe core CPI reading, which excludes more volatile food and energy costs, was up 3.3% year-over-year and just above forecasts of 3.2%.
Persons: , Stocks, Hurricane Milton, Jamie Dimon, Buffett Organizations: Traders, Service, Dow Jones, Nasdaq, Dow, CPI, Federal Reserve, Bank of America, Investors, Labor Department, Here's, Insurance Locations: Hurricane
With the economy top of mind for many voters, tax policy will be significant in the election. Trump's proposals include eliminating taxes on tips and overtime, extending the 2017 tax cuts for individuals, implementing higher tariffs on imported goods, and reducing the corporate tax rate. Meanwhile, the Tax Policy Center has found that the policies would bring down post-tax incomes by $1,800 in 2025. Joe Hughes, a senior analyst on federal tax policy at ITEP, previously told BI that high-wage workers could take advantage of Trump's proposals to make more money. Ultimately, though, any tax proposals would need buy-in from the House and Senate.
Persons: Donald Trump, , everybody's, ITEP, Ernie Tedeschi, Trump's, Matthew Gardner, Gardner, Trump, Casey B, Mulligan, Joe Hughes, Hughes, Brian Hughes Organizations: Service, Taxation, Yale Budget Lab, White House Council, Economic Advisers, IRS, American Progress, Trump, Policy Institute, Washington Post, Trump campaign's, Democratic, Senate Locations: ITEP
Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.
Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest
Watch Wednesday's full episode of Fast Money — October 9, 2024
  + stars: | 2024-10-09 | 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 EmailWatch Wednesday's full episode of Fast Money — October 9, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
AdvertisementLike Woodman, millions of Americans travel abroad for medical procedures each year, saving anywhere from 40% to 90% on the services they receive. Medical tourism comes with risks; the American Medical Association recommends going only to medical facilities recognized by international accrediting bodies and following up testing with care at home. It's unclear, though, how many medical tourists visit accredited facilities, and there's still the question of whether all these tests are useful for someone who is seemingly in good health. Related storiesSince COVID-19 came into the picture, health screenings and extensive physicals have received some buzz. As more people spend time abroad, it becomes easier to tack a few small medical tests onto your trip.
Persons: Josef Woodman's, , Chapel Hill , North Carolina —, You've, Woodman, There's, Kim Kardashian, you've, you'd, that's, Bryn Elise, I'd, Elise, influencer, I've, it's, Paulo Neno, Neno, there's, Elise's, Kardashian, Prenuvo, Arturo Vargas Bustamante, Vargas Bustamante, Misael Uribe Ramos, Uribe Ramos, Imani Bashir, Bashir, Krishnan Organizations: Duke University Hospital, cabanas, CAT, American Medical Association, Joint Commission International, University of California, Commission, Centers for Disease Control, CDC, of Disease Prevention, Health, Disease Prevention, National Academy of Medicine, country's Ministry of Health, Labour, Welfare, United Arab Locations: Chapel Hill , North Carolina, Bangkok, Mexico, United States, Turkey, Illinois, Los Angeles, Médica, Mexico City, Japan, South Korea, Thailand, United Arab Emirates, Barbados, Cancún, Washington , DC, Brooklyn
Democratic presidential nominee and U.S. Vice President Kamala Harris walks to board Air Force Two as she departs for New York, at Joint Base Andrews, Maryland, U.S., October 7, 2024. Vice President Kamala Harris said she considers Iran to be America's "greatest adversary," in a new interview on the CBS show "60 Minutes Overtime." The Democratic presidential nominee's choice of Iran, rather than Russia or China, underscores how much the Mideast War has shifted U.S. foreign policy priorities. Speaking with "60 Minutes" correspondent Bill Whitaker, Harris was asked which nation she considers "to be our greatest adversary." "I think there's an obvious one in mind, which is Iran," Harris replied.
Persons: Kamala Harris, Bill Whitaker, Harris, Whitaker Organizations: Democratic, U.S, Air Force, Joint Base Andrews, CBS, Islamic Locations: New York, Joint Base Andrews , Maryland, U.S, Iran, Russia, China, Israel, Islamic Republic, United States, North Korea
Mobile World Congress, a mobile communications trade show, is coming to Las Vegas this week. Techies, salespeople, and industry executives are arriving in Nevada this week for MWC Las Vegas, which kicks off today. The annual mobile-communications trade show brings more than 250 exhibitors, sponsors, and partners to the Las Vegas Convention Center in Sin City from Tuesday to Thursday. 5G technology is on track to add $210 billion in GDP to the North American economy by 2030, GSMA's "Mobile Economy North America" report said. The trade show in Vegas comes more than seven months after Mobile World Congress Barcelona, which is also hosted by GSMA.
Persons: , Lara Dewar, GSMA, Dewar, Booz Allen, Ulf Ewaldsson, Nvidia's, Ronnie Vasishta, Shankar Arumugavelu, Randi Zuckerberg, Hug, Mark Zuckerberg's Organizations: Mobile, Las, Service, MWC Las Vegas, Nvidia, Salesforce, Las Vegas Convention, MWC, Vegas, Enterprise, GSMA Intelligence, Verizon, Qualcomm, Cisco, Microsoft, Samsung, Apple, Apple Intelligence, Google, MWC Americas, Congress Barcelona, GSMA, Motorola, Lenovo, Verizon Global Services, Department of, Air Force's Locations: Las Vegas, Nevada, Sin City, North, America, Vegas, Venice
States sue TikTok over app's effect on kids' mental health
  + stars: | 2024-10-08 | by ( Dan Mangan | ) www.cnbc.com   time to read: +5 min
Schwalb's suit alleges a slew of "profound" mental health risks are posed to teens and children by compulsive TikTok use, including depression, anxiety, sleep loss and body dysmorphia. "TikTok knows that its design features make its App more addictive and keep users engaged for longer," the suit in D.C. Superior Court alleges. The complaint also says that in 2019, the company introduced "two new dangerous features": a live-streaming feature called TikTok LIVE and a virtual currency system called TikTok "Coins." TikTok incentivizes users to go LIVE by promising these monetary rewards 'the more popular [their] content becomes.'" The suit says that TikTok "earns substantial revenue" from its Coins, charging commissions of up to 50% on each transaction.
Persons: ByteDance, Brian Schwalb, Schwalb, TikTok Organizations: U.S . House, District of Columbia, CNBC, Washington , D.C, NHL's Washington Capitals hockey, Schwalb, AGs, Senate Locations: TikTok, Culver City , California, New York, California, U.S, D.C, Los Angeles, Washington ,, United States, China, Beijing
Watch Tuesday's full episode of Fast Money — October 8, 2024
  + stars: | 2024-10-08 | 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 EmailWatch Tuesday's full episode of Fast Money — October 8, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Driverless cars are speeding onto America's streets, but whether the public will trust robotaxis remains an open question. Nearly two-thirds of Americans said they would not want to ride in a driverless passenger vehicle if they had the opportunity, according to a Pew Research Center Survey. Tesla's upcoming robotaxi launch threatens to throw the whole autonomous vehicle space off course. Alphabet -owned Waymo is the leader in the space, with the company claiming it has notched more than 22 million driverless miles. Uber has hedged its bets by inking high-profile deals with autonomous vehicle companies, but it's unclear how long those partnerships will last.
Persons: robotaxis, Tesla, Elon Musk, Waymo, Cruise Organizations: Pew Research Center Survey, GM Locations: San Francisco , Los Angeles, Phoenix
The Vanderbilts, one of America's wealthiest Gilded Age families, owned multiple opulent homes. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementDuring the Gilded Age, Cornelius Vanderbilt was America's richest man with an estimated net worth of $100 million, or around $200 billion in today's currency. His grandson, Cornelius Vanderbilt II, succeeded him as the president and chairman of the New York Central Railroad in 1885. The seaside residence, named "the Breakers" after the waves that break on Newport's rocky shores, was one of many opulent homes that the Vanderbilts owned as one of America's wealthiest Gilded Age families.
Persons: , Cornelius Vanderbilt, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Cornelius Vanderbilt II, Alice Vanderbilt Organizations: Breakers, Service, New York Central Railroad Locations: Newport , Rhode Island
Wall Street's top performers are hard workers who tend to work long, intense hours. Business Insider asked its 2024 class of Wall Street stars about how they stay mentally sharp. Here's what we learned about the hacks, habits, and routines that help top talent on Wall Street stay on their game. The routine helps him stay present with his home life as well as work, he added. But I think those two things help me to at least stay recharged and stay ready each day," he said.
Persons: , Mark Zhu, Craig Kolwicz, Goldman Sachs, Corey White, Nina Gnedin, Blake Cecil, Chi Chen, Robert Sapolsky, Justin Elliott, Read, Palmer Osteen, KKR's, I've, That's, Daniela Cardona, America's White, Ben Carper, it's, there's, Matthew Eid, Holm, Reinhard Dirscherl, Melissa Ding, Wells, Annie Cheslin, she's, Margaret Williams, Morgan Stanley, Williams, Apollo's Austin Anton, Erica Wilson's, deadlifted, Harrison DiGia, Patrick Lenihan, barre, Elizabeth Stone Redding, Stone Redding, Matt Gilbert, Thoma, Gilbert, I'm, Dan, Feroz Khosla, isn't Organizations: Business, Service, Blackstone, Finance, Goldman, of America, Man Group, Productivity, Bridgewater Associates, Bank of America, Fidelity Investments, RBC, Bank, America's, Jefferies, Capital Advisory, Ares Management, Getty, BlackRock, Blue, General Atlantic, JPMorgan Asset Management, TPG, Thoma Bravo, Citadel Securities Locations: Blackstone, Chicago, San Francisco, Coast, Boston, Silicon Valley, New York, I'm, Maldives, he's, Thailand, Central Park
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael is restoring its deterrence in the region and removing enemy capabilities, says Dan SenorDan Senor, former foreign policy advisor in the Bush administration, ‘The Genius of Israel’ co-author and ‘Call Me Back’ podcast host, joins 'Squawk Box' to discuss the first anniversary of the October 7 Hamas terrorist attacks against Israel, state of the Middle East conflict, America's role in the Middle East, and more.
Persons: Dan Senor Dan Senor, Bush, Israel ’ Organizations: Israel Locations: Israel
Watch Monday's full episode of Fast Money — October 7, 2024
  + stars: | 2024-10-07 | 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 EmailWatch Monday's full episode of Fast Money — October 7, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutonomous vehicles are here but the public is reluctant to trust themDriverless cars are speeding onto America's streets. Alphabet-owned Waymo has been the leading player, notching more than 22 million driverless miles. But the public is still divided, with high-profile accidents from other autonomous companies and residents of many cities unfamiliar with the technology. Now, the most bullish self-driving proponent of them all, Tesla, is due to unveil its long-awaited robotaxi after years of unfulfilled promises. But will the public learn to trust them?
Persons: Waymo
Elon Musk has a big task this week: convincing investors that Tesla is more than just a car company. It may do so once again as Elon Musk prepares to use the studio lot to tell another story: that Tesla is more than just a car company. The long-awaited event — originally scheduled for August — is meant to give weight to the electric vehicle maker's pitch that it is a tech company first and a car company second. Meanwhile, in July, Wedbush analyst Dan Ives claimed the "Tesla AI story could be worth $1 trillion-plus and is the most undervalued AI name." Michael Macor/The San Francisco Chronicle via Getty ImagesHowever, what's critical to note is the timing for Tesla's robotaxi push.
Persons: Elon Musk, Tesla, Tesla's, , Musk, Sam Altman, Andrej Karpathy, Dan Ives, Michael Macor, Caspar Rawles, Rawles, Donald Trump, Elon, Ross Gerber, Gerber, Uber, it's, Cruise, Paul Miller, Forrester Organizations: Service, Warner Bros, Elon, Robotaxi, EV, San Francisco, Getty, Elon Inc, Benchmark Mineral Intelligence, Twitter, Gerber Kawasaki Wealth, Investment Management, Baidu, GM Locations: Burbank, California, Tesla's, Palo Alto, Elonville, Chinese, China, Wuhan
The United States is experiencing yet another divisive campaign season, but there may be a place where Americans can find calm and camaraderie: a vice presidential debate. "Saturday Night Live" followed up a historic, Season 50 premiere with more satire as Tuesday's debate between nominees for vice president, Sen. JD Vance, R-Ohio, and Democratic Gov. The "SNL" recreation had repertory player Heidi Gardner playing CBS News' Norah O'Donnell, who introduced the running mates. Walz, played by comedian Jim Gaffigan, is a former teacher and high school football coach tapped by Vice President Kamala Harris (Maya Rudoph) as her Democratic running mate. Vance (Bowen Yang) was asked by debate cohost Margaret Brennan (Chloe Fineman) how he'd address the crisis in the Middle East.
Persons: Sen, JD Vance, Tim Walz, Heidi Gardner, Norah O'Donnell, Walz, Jim Gaffigan, Kamala Harris, Vance, Bowen Yang, Margaret Brennan, Chloe Fineman, Margaret, he's, I'm, Donald Trump, Hitler, " Walz interjected, Rudolph's Harris, Harris, Douglas Emhoff, Andy Samberg, Joe Biden, Dana Carvey, Mary, I’m, Emhoff, Nate Bargatze, Coldplay Organizations: Democratic Gov, CBS, Democratic, SNL, NBC, NBC News Locations: States, R, Ohio, Minnesota, NBCUniversal
Many Gen Zers purchase cheap goods from the Chinese e-commerce companies Shein and Temu. The Biden administration is taking steps to make more Chinese imports subject to import fees. AdvertisementTwo of Gen Z's favorite shopping platforms for cheap goods could get more expensive in the near future. The trade provision, called "de minimis," allows US consumers to avoid paying these import fees on direct-to-consumer shipments of less than $800. However, import fees could vary by product.
Persons: Biden, , Gen, Chad Schofield, wouldn't, it's, — Schofield, Kaziukėnas, Joe Biden's, Xers, Temu, Schofield, Donald Trump, Kamala Harris, Shein, he'd, Temu It's, they'd Organizations: Service Locations: Shein, China, Canada, Mexico
AdvertisementOn July 14, 2022, Kelle Sparta and her husband, Jeff Brandon, set foot in Boquete, Panama, for the first time. AdvertisementIn 2018, the couple moved to Richmond, Virginia, from Boston. Boquete, Panama. Kelle SpartaIn 2022, the couple moved sight unseenIn the summer of 2022, the couple arrived in Boquete with six suitcases and their dog. Sparta and Brandon moved into a temporary Airbnb while looking for a permanent home.
Persons: Kelle Sparta, Jeff Brandon, , she's, lockdowns, Brandon didn't, Brandon, divisiveness, Monica Humphries, Sparta, they're, I'm Organizations: Kelle, Service, Business, Sparta, Friendly Nations, MIT Locations: Boquete, Panama, Sparta, Brandon, Richmond , Virginia, Boston, Virginia, Europe, Portugal, Valencia, Spain, Kelle Sparta, Panamanian
Brian Niccol and Elliott Hill are taking over Starbucks and Nike , respectively, just as a key market that weighed on their predecessors gets a boost. As China's economic stimulus takes shape, it could end up helping these global brands. Nike and Starbucks in China While the exact plans for Niccol and Hill are still unclear, the Chinese market seems like it will be an area of focus. At Starbucks, the company's leadership team in China has already been reshuffled since Niccol took over in September. Still, a rebound for China's consumer won't necessarily boost sales for Starbucks and Nike without better execution.
Persons: Brian Niccol, Elliott Hill, Hartmut Issel, Niccol, Matthew Friend, Hill, Chen Luo, Ellen Hazen, . Putnam, Hazen, Eric Clark, I'd, it's, Clark, America's Luo, — CNBC's Michael Bloom Organizations: Starbucks, Nike, Bank of America — Nike, UBS, Bank of America, CNBC, Brands, Bank, America's Locations: China, United States, Niccol, .
Hallways are disappearing from America's homes
  + stars: | 2024-10-05 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +7 min
AdvertisementAs homeowners and builders make tough design choices, hallways are disappearing from many newly built homes. Highland Homes' Palermo floor plan. Courtesy of Highland HomesBy contrast, a Highland Homes floor plan from 2018 for a one-story home has more hallways. Why long hallways are becoming passéThere are several reasons hallways are being phased out of newly built homes, apart from saving money for builders. Courtesy of Highland HomesPictured above is Highland Homes' 608 floor plan, a two-story home of about 4,500 square feet released in 2020.
Persons: John Burns, Mikaela Arroyo, Arroyo, It's, Taylor Morrison, Jen Shurtleff, Shurtleff, Organizations: National Association of Home Builders, John Burns Research, Consulting, Trends, JBREC, Tri Pointe Homes, Forbes, Highland Homes, Highland, Homes, Generations United Locations: Tri Pointe, Texas, Highland, Dallas, Fort Worth , Houston, Austin, San Antonio, Palermo
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