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☆ Warren Buffett honors Charlie Munger in annual note, Berkshire reports record cash pile
▼ + stars: | 2024-02-24 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +11 min

Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett and his wife pose at the beach with their three children. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Nati Harnik/AP Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.

Persons: Warren Buffett’s, Charlie Munger, Buffett, Munger, ”, Charlie, Berkshire Hathaway, “ Charlie, Munger’s, Greg Abel, Abel, Berkshire’s, Greg, ” Buffett, “ Greg, Berkshire Berkshire Hathaway, Warren Buffett, Nati, Laila, Howard Buffett, Howard, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer, Apple Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Investors, Oracle, “, Berkshire, Berkshire Berkshire, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, Bloomberg, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters, Apple Berkshire, Apple, Securities and Exchange Commission, HP, Paramount Locations: New York, Omaha, “ Berkshire, Berkshire, The Omaha , Nebraska, Omaha , Nebraska, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, AFP, Washington , DC, Illinois, Sun Valley , Idaho

The chipmaker was initiated with an outperform rating by Loop Capital, which set a Wall Street-high price target that calls for 65% upside. He also raised his price target on U.S.-traded shares to $22.22 from $19.16, implying shares could rise 27% from Thursday's close. It also cut its price target by $1.50 to $8.50, suggesting just 6.2% upside potential from Thursday's closing price. — Hakyung Kim 5:41 a.m.: Oppenheimer downgrades Nike Don't expect much out of Nike shares in the near future, according to Oppenheimer. The firm downgraded the apparel giant to perform from outperform and slashed its price target to $110 per share from $150.

Persons: Oppenheimer, Carvana, Raymond James Carvana's, Raymond James, Mitch Ingles, Ingles, — Hakyung Kim, Jefferies, Alex Wright, Wright, Peter Grom, Chris Peterson's, Grom, Newell, Brian Nagel, Fred Imbert, Ananda Baruah, Hakyung Kim Organizations: CNBC, Nvidia, Nike, Loop, Jefferies, UBS, Newell Brands Consumer, Newell Brands, Nvidia Nvidia, CY2025 Locations: Thursday's, America, CY2024

☆ I hate to say it but, yes, you should dress for success
▼ + stars: | 2024-02-15 | by ( Henry Blodget | ) www.businessinsider.com time to read: +7 min

And now, it's finally time to discuss the perennial and important work-related question: How should you dress? That usually means dressing professionally, the way most successful people in your organization and industry dress — those people whose jobs and reputations you eventually want. Also, "professional" clothes can be expensive and a pain to care for. "Dressing for success" just means looking professional and in keeping with your workplace culture — as opposed to how you might dress on the weekend or at home. Remember:AdvertisementAs with other aspects of professional conduct, dressing for success is not about you.

Persons: —, it's, I'm, Hayley Peterson, Robert Caro —, he's Organizations: Service

☆ Alaska Woman Gets 99 Years in Catfish Murder-for-Hire of Best Friend
▼ + stars: | 2024-02-15 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

An Alaska woman who arranged to have her best friend killed in 2019 after a man she met online promised her $9 million to do so was sentenced on Monday to 99 years in prison, state prosecutors said. Judge Andrew Peterson of Anchorage Superior Court sentenced the woman, Denali Brehmer, 23, of Anchorage, who pleaded guilty last year to one count of first-degree murder in the death of the friend, Cynthia Hoffman, the Alaska Department of Law said in a statement. Evidence presented at the sentencing showed that Ms. Hoffman, 19, was fatally shot on June 2, 2019, on a bank of the Eklutna River near Thunderbird Falls and that her body was later placed in the river, according to the Department of Law. Prosecutors later learned that Ms. Brehmer had been hired to kill Ms. Hoffman in exchange for millions of dollars. During the hearing, Judge Peterson described the murder of Ms. Hoffman as “tragic and senseless,” the Department of Law said.

Persons: Andrew Peterson, Cynthia Hoffman, Hoffman, Prosecutors, Brehmer, Judge Peterson, Ms Organizations: Anchorage Superior Court, Alaska Department of Law, Department of Law Locations: Alaska, Anchorage, Thunderbird

☆ Your next Tesla could be made by China
▼ + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.

Persons: Elon Musk, —, Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States

☆ Surging restaurant prices are making dining out even more of a luxury
▼ + stars: | 2024-02-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

That’s because prices for groceries are up 1.2% year over year, while the price of food consumed at restaurants is up 5.1%. And in this election year, higher food prices, which rose last month to their highest monthly rate in a year, could present problems for President Joe Biden’s campaign. In January 2023, it was cheaper to dine out, with food prices up 8.2% compared to the prior year. In the post-pandemic world, consumers have been devoting more of their budgets to services compared to goods. As a whole, prices for services — which include dining out, transportation and entertainment — were up 0.7% in January compared to the prior month.

Persons: you’ve, Joe Biden’s, What’s, ”, Dana Peterson, ” Goldman Sachs Organizations: New, New York CNN, Conference Board Locations: New York

☆ Opinion: Jon Stewart’s brilliant return
▼ + stars: | 2024-02-13 | by ( Opinion Bill Carter | ) edition.cnn.com time to read: +13 min

Jeff Kravitz/FilmMagic/Getty Images Stewart waves goodbye backstage after taping the last episode of "The Jon Stewart Show" in 1995. M. Caulfield/WireImage/Getty Images Stewart appears on an episode of CNN's "Crossfire" with Paul Begala, left, and Tucker Carlson in 2004. Ethan Miller/Getty Images Stewart signs an autograph on the Emmys red carpet in 2009. Zach Gibson/Getty Images Stewart appears on "The Late Show with Stephen Colbert" in 2019. Scott Kowalchyk/CBS/Getty Images Stewart smiles as Senate Majority Leader Mitch McConnell walks by him on Capitol Hill in 2019.

Persons: Bill Carter, CNN —, Bill Carter Bill Carter, Jon Stewart, ” Stewart’s, Stewart, “, ”, Joe Biden, Travis Kelce, ” Stewart, —, Abdel Fattah el, Biden, ” Jon Stewart, Victoria Will, College of William & Mary, William, Mary Athletics Stewart, Conan O'Brien, Lesly Weiner, Mike Piazza, Jeff Kravitz, Catherine McGann, Ron Galella, Jennifer Beals, Guillermo Diaz, Universal Pictures Stewart, Tracey McShane, Steve Eichner, Adam Sandler, Corey Sipkin, Paul Begala, Tucker Carlson, CNN Stewart, Stephen Colbert, Colbert, Scott Gries, Todd Plitt, Rob Corddry, Ed Helms, Samantha Bee —, Ethan Miller, Kevork Djansezian, Mark Peterson, Bill Kotsatos, Nathan, Maggie, Tomorrowland Speedway, David Roark, Benjamin Lowy, Bill O'Reilly, Jamie McCarthy, Valentino, Tracey, Jo, Anne McArthur, Barack Obama, Pete Souza, Trevor Noah, Noah, Brad Barket, Comedy Central Stewart, Alex Wong, Rossum, James Devaney, John Feal, Zach Gibson, Scott Kowalchyk, Mitch McConnell, McConnell, Bill Clark, Twain, Kevin Wolf, Matt Wilson, Donald Trump, Biden’s forgetfulness, Trump, Jack Paar, Dulcé Sloan Organizations: The New York Times, CNN, HBO, Comedy Central, “ CBS, Super, College of William &, Mary Athletics, MTV, Getty, Miramax, Everett, Universal Pictures, Sony Pictures, Television Critics Association, Caulfield, MTV Networks, Comedy, Tomorrowland, Walt Disney, Disney, Cancer Moonshot Initiative, New York Knicks, FealGood, CBS, Kennedy Center, Performing Arts, Daily, Democratic, Biden Locations: TikTok, Gaza, Mexico, Egypt, Williamsburg , Virginia, New York, Washington , DC, Florida, Washington ,, Pennsylvania

☆ Consumers are currently in a win-win situation, says Dana Peterson
▼ + stars: | 2024-02-13 | 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 EmailConsumers are currently in a win-win situation, says Dana PetersonDana Peterson, Chief Economist at The Conference Board, discusses the January CPI report.

Persons: Dana Peterson Dana Peterson Organizations: Consumers, Conference Board

☆ Jon Stewart marks ‘The Daily Show’ return
▼ + stars: | 2024-02-12 | by ( Brian Lowry | ) edition.cnn.com time to read: +9 min

Jeff Kravitz/FilmMagic/Getty Images Stewart waves goodbye backstage after taping the last episode of "The Jon Stewart Show" in 1995. Corey Sipkin/NY Daily News Archive/Getty Images Stewart holds an award won by "The Daily Show" in 2003. M. Caulfield/WireImage/Getty Images Stewart appears on an episode of CNN's "Crossfire" with Paul Begala, left, and Tucker Carlson in 2004. Scott Kowalchyk/CBS/Getty Images Stewart smiles as Senate Majority Leader Mitch McConnell walks by him on Capitol Hill in 2019. Matt Wilson/Comedy Central's The Daily Show Jon Stewart is back on "The Daily Show."

Persons: Jon Stewart, Jack Paar’s, Stewart, “, Taylor Swift, ”, ” Stewart, Joe Biden, Donald Trump, Victoria Will, College of William & Mary, William, Mary Athletics Stewart, Conan O'Brien, Lesly Weiner, Mike Piazza, Jeff Kravitz, Catherine McGann, Ron Galella, Jennifer Beals, Guillermo Diaz, Universal Pictures Stewart, Tracey McShane, Steve Eichner, Adam Sandler, Corey Sipkin, Paul Begala, Tucker Carlson, CNN Stewart, Stephen Colbert, Colbert, Scott Gries, Todd Plitt, —, Rob Corddry, Ed Helms, Samantha Bee —, Ethan Miller, Kevork Djansezian, Mark Peterson, Bill Kotsatos, Nathan, Maggie, Tomorrowland Speedway, David Roark, Benjamin Lowy, Bill O'Reilly, Jamie McCarthy, Valentino, Tracey, Jo, Anne McArthur, Barack Obama, Pete Souza, Trevor Noah, Noah, Brad Barket, Comedy Central Stewart, Biden, Alex Wong, Rossum, James Devaney, John Feal, Zach Gibson, Scott Kowalchyk, Mitch McConnell, McConnell, Bill Clark, Twain, Kevin Wolf, Matt Wilson, Robert Hur’s, Trump, Dulcé Sloan, ” Jordan Klepper Organizations: CNN, Comedy Central, Kansas City Chiefs, San Francisco 49ers, College of William &, Mary Athletics, MTV, Getty, Miramax, Everett, Universal Pictures, Sony Pictures, Television Critics Association, Caulfield, MTV Networks, Comedy, Tomorrowland, Walt Disney, Disney, Cancer Moonshot Initiative, New York Knicks, FealGood, CBS, Kennedy Center, Performing Arts, Daily Locations: Williamsburg , Virginia, New York, Washington , DC, Florida, Washington ,

Last Saturday, a crowd of several hundred people gathered in a grassy field near the bank of the Rio Grande in Quemado, Texas, for a rally in support of the state’s defiant stance on immigration. The event, which was held by the protest group Take Our Border Back, marked the final stop of a dayslong convoy of conservative Americans who, in a procession of cars, trucks and mobile homes, made their way to Quemado to demonstrate their frustration over what they see as the federal government’s failure to enforce immigration laws at the border. A response to the intensifying confrontation over border security and immigration between the Biden administration and the Texas governor, Greg Abbott, the event featured an unexpected blend of political anger and religious ardor.

Persons: Biden, Greg Abbott Locations: Rio Grande, Quemado , Texas, Texas

☆ Jobs and geopolitical threats will keep climate tech in spotlight even if Biden is voted out, insiders say
▼ + stars: | 2024-02-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

Read previewPresident Biden has won quite a few fans in the climate tech sector during this time in office. Legislation, including the IRA, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, has unlocked enormous amounts of capital that bolsters climate tech innovation and adoption. The Swiss company would have expanded Stateside eventually, but such policies helped it pick up pace, said Andrew Fishbein, Climeworks' senior policy manager in the US. For example, Regeneration VC doesn't factor subsidies into its investment decisions or portfolio companies' financial projections. Advertisement"Who knows, maybe 2024 is going to be a banner year for climate tech," he said.

Persons: —, Biden, Sierra Peterson, Anna, Alexia Basile, Katie Hoffman, Hoffman, Climeworks, Andrew Fishbein, We're, Kevin Stevens, Trump, VC's Hoffman, Energize Capital's Stevens, Ben Wolkon Organizations: Service, Business, Voyager Ventures, Infrastructure Law, Regeneration, Battery, Trump, Future, Department of Energy, Energize Capital, MUUS Climate Partners Locations: Paris, Nevada , Arizona, Louisiana, North Dakota, California, Swiss, Washington

☆ Tim Cook, Steve Ballmer and Jamie Dimon are among the few US billionaires who didn't found a company or inherit a fortune
▼ + stars: | 2024-02-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewVirtually all of America's billionaires either founded a wildly successful company or inherited a vast fortune. Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon, and former Microsoft CEO Steve Ballmer are among the few exceptions. Ballmer leads the pack with an estimated fortune of $143 billion, according to the Bloomberg Billionaires Index largely due to his near-4% stake in Microsoft. AdvertisementRemarkably, Ballmer ranks sixth on the Bloomberg list, just one spot and $3 billion behind the Microsoft cofounder. Other industry stalwarts include Meta's former operating chief, Sheryl Sandberg ($2 billion), and former eBay CEO Meg Whitman ($3 billion).

Persons: —, Tim Cook, Jamie Dimon, Steve Ballmer, Forbes, Bill Gates, Ballmer, Eric Schmidt, Charles Simonyi, Jeff Rothschild, Jeff Skoll, Sheryl Sandberg, Meg Whitman, Justin Sullivan, Snowflake, Frank Slootman, Apple's Cook, Safra Catz, Lisa Su, Ramzi Musallam, JPMorgan's, Goldman Sachs, Lloyd Blankfein, Tor Peterson, Paul Saville, homebuilder Organizations: Service, Apple, JPMorgan, Business, Bloomberg, Microsoft, Facebook, eBay, Getty Images Tech, Forbes, Oracle, AMD, Veritas Capital, Blackstone, KKR Locations: Silver

☆ Moving to Puerto Rico comes with lifestyle perks and tax breaks. Trade-offs include healthcare, schools, and furniture.
▼ + stars: | 2024-02-08 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Americans are moving to Puerto Rico for the climate, adventure, and tax breaks. Newcomers to Puerto Rico told Business Insider they've had difficulty navigating the complexities of healthcare, education, and even buying goods like furniture. From 2021 through 2022, about 27,000 people moved to Puerto Rico from the US states, according to data collected by the US Census Bureau. Lindsey noted that if somebody expressed interest in moving to Puerto Rico, she would first ask them about their health. "You must understand that in Puerto Rico, it's going to be a little laid back," he said.

Persons: —, they've, it's, Ricky Santana, Santana, Jessica Peterson, Sarah Lindsey, Sean Flynn, Hurricane Maria, Lindsey, Flynn, Kimberly Sue Walker Organizations: Service, Puerto Rico, Colectivo, US Census Bureau, Puerto Ricans, Getty, Hurricane, Collectivo Locations: Puerto Rico, Puerto, Caribbean, Miami, Dorado, San Juan, San Juan ., Humacao , Puerto Rico, Austin, New York, American, Dorado , Puerto Rico

☆ Federal budget deficit expected to soar to $2.6 trillion in 2034, CBO says
▼ + stars: | 2024-02-07 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —The federal budget deficit will balloon from $1.6 trillion this fiscal year to $2.6 trillion in fiscal year 2034, according to the latest Congressional Budget Office outlook released Wednesday. A major reason for the widening gap between revenue and spending: a spike in net interest payments on the federal debt due to higher interest rates. The nation’s debt held by the public is expected to rise to a record 116% of the economy by 2034. CBO’s deficit projection will likely add pressure to congressional lawmakers who have yet to agree on funding for federal agencies for fiscal year 2024. Budget experts called on Congress to take action to address the nation’s worsening fiscal situation.

Persons: MacGuineas, they’ve, Mike Johnson, ” Michael Peterson, Peter G Organizations: CNN, Congressional, Social Security, Medicare, CBO, GOP, Capitol, Federal, House Republicans, Peterson Foundation

☆ Voyager Ventures backs climate tech startups. It just raised its second $100 million fund.
▼ + stars: | 2024-02-07 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewClimate tech VC firm Voyager Ventures has raised another fund hot on the heels of its first, bringing its assets under management to $200 million. The new fund can invest alongside or after Voyager Fund I and independently where it has developed competitive access. AdvertisementThe fund hit final close in May 2023, which was previously undisclosed, just 15 months after closing its first fund. It is also eyeing the second edition of the earlier-stage Voyager Fund, which Peterson and Sclarsic will start raising this year. Voyager Ventures currently has 19 portfolio companies across the two funds.

Persons: —, Sierra Peterson, Sarah Sclarsic, Peterson, Sclarsic Organizations: Service, Voyager Ventures, Business, Voyager, Northwestern University, Novo Holdings Locations: San Francisco and New York, North America, Europe

☆ Carl Weathers, Who Played Apollo Creed in the ‘Rocky’ Movies, Dies at 76
▼ + stars: | 2024-02-02 | by ( Jesus Jiménez | More About Jesus Jiménez | ) www.nytimes.com time to read: +1 min

linebacker turned actor known for playing Apollo Creed in the first four “Rocky” movies in an acting career that spanned more than four decades, died on Thursday. His family said that Mr. Weathers had “died peacefully in his sleep.” No cause of death was given. Mr. Weathers played the boxer Apollo Creed who fought against Sylvester Stallone in the “Rocky” movies. Over the course of his career, Mr. Weathers displayed his range in several roles on film and television. After retiring from playing in professional football, he pursued a career in acting in the 1970s.

Persons: Carl Weathers, Rocky, Weathers, “, Apollo Creed, Sylvester Stallone, Chubbs Peterson, Happy Gilmore, ”, Adam Sandler, Greef, Chicago Justice ”, ” Mr Organizations: Chicago Justice, Chicago, Oakland Raiders, Canadian Football League

A stretch of unusually warm weather has forced federal officials to suspend researchers' annual wolf-moose count in Isle Royale National Park for the first time in more than six decades. Isle Royale is a 134,000-acre (54,200-hectare) island situated in far western Lake Superior between Grand Marais, Minnesota, and Thunder Bay, Canada. The park is a wildlife biologist's dream - it offers a rare opportunity to observe wolves and moose acting naturally without human influence. Researchers have conducted an annual survey of the park's wolf and moose population since 1958. She said warm temperatures have left the ice around the island unsafe for the scientists' ski-planes to land.

Persons: It's, Sarah Hoy, John Vucetich, Rolf Peterson, Hoy, ” Hoy, “, We're, we're Organizations: Michigan Tech University, Michigan Tech, National Park Services, National Weather Service Locations: Isle Royale, Isle, Lake Superior, Grand Marais , Minnesota, Thunder Bay, Canada, Michigan

☆ The Federal Reserve is fed up with data revisions
▼ + stars: | 2024-01-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +11 min

Federal Reserve Governor Christopher Waller said large revisions in data are tainting his assessments of how the economy is doing. Al Drago/Bloomberg/Getty ImagesThat’s well above the average month-over-month revised change in job totals from 1973 to the latest available revision data, according to the BLS. The official summary of what Fed officials said and discussed during their September meeting — also known as the Fed minutes — stated: “A few participants observed that there were challenges in assessing the state of the economy because some data continued to be volatile and subject to large revisions.”Spokespeople from the Federal Reserve declined to answer which data Fed officials were referring to. Frequent and large revisions to economic data are weighing on Federal Reserve decision-making, Governor Michelle Bowman said. “We want to be data dependent, but not data point dependent,” Williams said.

Persons: Christopher Waller, Waller, it’s, Al Drago, ” Waller, ”, Michelle Bowman, —, Spokespeople, he’s, don’t, Erica Groshen, David Wilcox, Laura Kelter, Kelter, Groshen, Wilcox, John Williams, ” Williams, “ Organizations: New, New York CNN — Federal Reserve, ”, of Labor Statistics, BLS, Federal, Bloomberg, Getty, Fed, Ohio Bankers League, Federal Reserve, Commerce Department, Department, Census, Labor, Peterson Institute for International Economics, Employment, CNN, Wilcox . New York Fed Locations: New York, Wilcox . New

The business group’s consumer confidence index rose to 114.8 from a revised 108 in December. The present situation Index – a measure of current business and labor market conditions – surged to 161.3 from 147.2 last month. And it comes as the Federal Reserve is meeting in Washington to set interest rate policy, with economists forecasting the central bank will hold interest rates steady. But, he adds, “The Fed’s not going to change” at its first meeting of 2024 that began on Tuesday and do anything other than hold interest rates steady for the fourth meeting in a row. The index often leads other consumer sentiment surveys by two to three months, says Legal Shield CEO Warren Schlichting.

Persons: ”, Dana Peterson, Stephen Rich, Melissa Brown, Jerome Powell, Gene Goldman, Warren Schlichting, Schlichting, it’s Organizations: Conference, Mutual of America Capital Management, Federal Reserve, Investment Management, “, Labor Department, ADP Locations: U.S, Washington

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ Workers are paying to get part of their paychecks early. It's 'payday lending on steroids,' one expert says
▼ + stars: | 2024-01-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +12 min

Fotostorm | E+ | Getty ImagesMillions of American workers are paying for early access to their paychecks. So-called "earned wage access" programs, which operate either directly to the consumer or through employers, let workers tap a portion of their wages before payday, often for a fee. Earned wage access has gotten more popularEarned wage access goes by various names: daily pay, instant pay, accrued wage access, same-day pay and on-demand pay, for example. "It's another version of payday loans," Monica Burks, policy counsel at the Center for Responsible Lending, a consumer advocacy group, said of earned wage access. However, a recent study by the U.S. Government Accountability Office found that earned wage access products "generally cost less than typical costs associated with payday loans."

Persons: it's, Marshall Lux, Lux, hasn't, Cherie Chung, EarnIn, MoneyLion, Monica Burks, —, Thad Peterson, There's, EWA, Peterson, Harvard's, we're, Stacy Greiner, Dave, Ben LaRocco, Miranda Margowsky, Margowsky, Atif Siddiqi, Siddiqi, Safwan Shah, Shah, doesn't, Harvard's Chung Organizations: Harvard University, Finance, Harvard Kennedy School, Lux, Harvard, Hilton, Uber, Walmart, Companies, Center for, California Department of Financial Protection, Center for Responsible, U.S, Government, Office, GAO, Datos, Commerce, Economic, Financial Technology Association Locations: Kroger, McDonald's, California, Vermont

California poultry farms are implementing strict biosecurity measures to curb the spread of the disease. So we’ve got to be as vigilant as possible to protect our birds,” said Bill Mattos, president of the California Poultry Federation. Climate change is increasing the risk of outbreaks as changing weather patterns disrupt the migratory patterns of wild birds, Pitesky said. For example, exceptional rainfall last year created new waterfowl habitat throughout California, including areas close to poultry farms. “I’m very concerned because this avian flu is transmitted by wild birds, and there’s no way I can stop the wild birds from coming through and leaving the disease behind,” Peterson said.

Persons: Mike Weber, “, ”, Weber, Annette Jones, we’ve, Bill Mattos, Maurice Pitesky, Pitesky, Rodrigo Gallardo, Gallardo, Ettamarie Peterson, I’m, ” Peterson, Weber’s, ” Weber, they’ve, “ We’re Organizations: —, Sunrise, California Poultry Federation, San Francisco Bay Area, U.S . Department of Agriculture, University of California, USDA . Industry, UC Davis Locations: PETALUMA, Calif, Sonoma County, San Francisco, Petaluma, California, Midwest, Merced County, Central California, San Francisco Bay, U.S, Turkey, Australia, Davis, North Coast, Central Valley

☆ How America’s economy keeps defying expectations when the rest of the world is struggling
▼ + stars: | 2024-01-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Economists were convinced the last quarter of 2023 had to be the one where economic growth slowed significantly after the prior quarter’s gangbuster 4.9% annualized growth rate. Gross domestic product, the broadest measure of economic output, did slow last quarter to a 3.3% annualized rate. It’s remarkable given economists were expecting 1.5% annualized GDP growth last quarter. But what’s perhaps most remarkable about the US economic growth rate is how much it towers over similarly sized advanced economies. Covid stimulus money is helping Americans avoid cutting back on spending.

Persons: Larry David, that’s, rateaccording, Joseph Gagnon, David Paul Morris, Gagnon, That’s, Alicia Wallace, Hanna Ziady, he’s, I’ve, it’s Organizations: New, New York CNN, Gross, Peterson Institute for International Economics, Federal Reserve, Bloomberg Locations: New York, Singapore, Europe, Ukraine

How Did a Boeing Jet End Up With a Big Hole? At about 16,000 feet, pilots heard a loud boom, and the pressure dropped further: One of those door plugs had completely torn off. National Transportation Safety BoardBoeing’s chief executive, Dave Calhoun, has suggested that a manufacturing lapse was responsible for the door plug blowing out. investigation, it’s clear to us we received an airplane from the manufacturer with a faulty door plug,” Alaska said in a statement. An older Boeing model, the 737-900ER, has the same design for its door plugs as the Max 9.

Persons: Bolts, New York Times Bolts, Jeff Simon, cotter, Simon, ”, it’s, ” Gary Peterson, Dave Calhoun, AeroSystems, Max, fuselages, Joe Buccino, Mr, Buccino, Mathieu Lewis, Rolland Organizations: Boeing, Alaska Airlines, New York Times, The New York Times, National Transportation, Federal Aviation Administration, Transport Workers Union of America, Transportation Safety, Alaska Airline, Transportation, CNBC, Spirit, Board, Portland International Airport Locations: Alaska, Portland ,, Malaysia, Wichita, Kan, Renton, Wash, Jan

☆ Gen Z Gender Gap: Young Men and Women Don't Agree on Politics
▼ + stars: | 2024-01-23 | by ( Daniel Cox | ) www.businessinsider.com time to read: +11 min

As recently as 2019, less than one-third of young men said that they faced discrimination, according to Pew, but today, close to half of young men believe they face at least some discrimination. There was not a single issue that young men cared about significantly more than young women. There was not a single issue that young men cared about significantly more than young women. Most young men are probably not interested in making America great again, but they do feel acutely the need to secure a place for themselves in a culture that readily identifies male advantage but ignores the challenges young men face. And this attitude has real-world consequences: In the online gaming world, 75% of Gen Z women have reported experiencing harassment .

Persons: Gen, Gen Zers, Zers, MeToo, Donald Trump, Z, Roe, Wade, Richard Reeves, Reeves, Trump, Andrew Tate, Elon Musk, Jordan Peterson, Pew Organizations: Survey Center, Democratic, Gallup, Southern Poverty Law Center, American Institute for Boys, Harvard, America Locations: Washington, America

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