This key measure of the US economy held surprisingly steady
==========

Spending at US retailers has been mostly flat since the beginning of the year, holding steady in June, according to the Commerce Department. June's reading was better than the decline economists projected in a FactSet poll. The figures are adjusted for seasonal swings but not inflation.

#UsEconomy #RetailSales #CommerceDepartment #Factset #June

https://www.cnn.com/2024/07/16/economy/retail-sales-june/index.html


Here’s why people have fond memories of the Trump economy
==========

Many Americans feel the economy was stronger under former President Donald Trump and want him back in the White House. Polls show that voters have more faith in Trump's ability to handle the economy than President Joe Biden's. Trump presided over a strong economy with record-low unemployment rates and a spike in median household income. However, the economy under Biden has also been strong, with a resilient labor market and high employment rates for women. Inflation has been a major concern for Americans, with prices rising significantly since the early years of the Trump administration. The perception of the economy is influenced by how much prices have increased, and inflation is expected to impact swing voters in the upcoming election.

#TrumpEconomy #JoeBiden #Inflation #Employment #MedianHouseholdIncome

https://www.cnn.com/2024/07/16/business/economy-trump-voters/index.html


US markets are steady following assassination attempt on Trump
==========

US stock futures barely budged after an assassination attempt on former President Donald Trump on Saturday. Dow futures rose 65 points, or 0.2%, while S&P 500 futures rose 0.1% and Nasdaq Composite futures were unchanged. The shooter was killed, as well as one attendee, according to authorities. President Joe Biden said he spoke with Trump after the shooting and denounced the violence in remarks shortly after. The Republican National Convention kicks off Monday in Milwaukee, where the GOP is expected to officially nominate Trump as the Republican candidate for the 2024 presidential election. Trump is also expected to announce his during the convention. A Trump win in November likely means the preservation or expansion of tax cuts and increased tariffs. Morgan Stanley research estimates that an expansion of the 2017 tax cuts would boost deficits sharply, sending the US dollar, which is already trading high, even higher. Monday also kicks off a big week of earnings, with reports from Goldman Sachs and BlackRock.

#UsMarkets #DonaldTrump #AssassinationAttempt #StockFutures #RepublicanNationalConvention #TaxCuts #Tariffs #Earnings

https://www.cnn.com/2024/07/14/markets/premarket-stock-trading-trump-assassination/index.html


Unexpected bad news for inflation: Wholesale prices rose in June
==========

Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. The Producer Price Index (PPI) was 2.6% for the 12 months ended in June, rising from the 2.4% annual rate seen in May. On a monthly basis, prices rose 0.2% after holding flat in May. Economists had expected prices to increase 0.1% monthly and hold steady at 2.2% annually. PPI serves as a potential bellwether for retail-level inflation in the months ahead.

#Inflation #WholesalePrices #ProducerPriceIndex #Economy

https://www.cnn.com/2024/07/12/economy/us-producer-price-index-inflation-june/index.html


Prices fell in June for the first time since the start of the pandemic
==========

US consumer prices fell 0.1% in June, the first month-on-month decline since May 2020. The annual rate of inflation dropped to 3% from 3.3% in May. The decline was driven by falling gas prices and a drop in new and used car prices. The core Consumer Price Index, which excludes energy and food prices, rose 0.1% from May, its slowest pace since August 2021, bringing the annual rate of core inflation to 3.3% from 3.4%. US stock futures rose on the news as investors hope it will lead to the Federal Reserve lowering interest rates. Dow futures rose 80 points, S&P 500 futures were 0.3% higher, and Nasdaq futures rose 0.3%. US Treasury yields fell, which could benefit consumers with lower mortgage and credit card rates.

#UsConsumerPrices #Inflation #FederalReserve #InterestRates

https://www.cnn.com/2024/07/11/economy/us-cpi-consumer-inflation-june/index.html


Are the US Consumer and Economy Still Strong? Banks Will Answer This Week - Before The Bell - Podcast on CNN Audio
==========

The US Consumer and Economy's strength will be determined by banks this week. The US economy is facing a new threat.

https://www.cnn.com/audio/podcasts/before-the-bell-newsletter/episodes/92329be8-2997-11ef-86ad-830610f128c6


Why the Fed is stressed about presidential elections
==========

Federal Reserve Chair Jerome Powell stressed the independence of the central bank during his testimony to Congress, reassuring investors that the Fed will prioritize the economy over political considerations. Powell's messaging indicated a desire to start recalibrating monetary policy and reduce policy restraint to avoid weakening economic activity. The market reaction to Powell's testimony was muted, with the S&P 500 closing slightly higher. Investors believe that the September Fed meeting is more likely to result in a rate cut than the July meeting. Powell will continue his testimony in front of Congress on Wednesday and has several speaking engagements scheduled in the coming months. The Fed is closely monitoring inflation and labor market conditions to determine future policy decisions.

#FederalReserve #JeromePowell #PresidentialElections #MonetaryPolicy #Inflation #InterestRates

https://www.cnn.com/2024/07/10/investing/premarket-stocks-trading/index.html


Key takeaways from Fed Chair Powell’s testimony on Capitol Hill
==========

Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee and discussed the progress on inflation and the outlook for interest rate cuts. Powell stated that while inflation has made progress, the Fed wants to see more evidence before cutting interest rates. He also emphasized the importance of monitoring the job market, which has shown signs of cooling. Powell mentioned that the labor market is back to normal but highlighted the risks of waiting too long to lower rates. The June jobs report showed a slight increase in the unemployment rate, but the job market remains strong. Powell acknowledged the two-sided risks of inflation heating up or the labor market weakening. The Fed is considering revising and re-proposing banking regulations, and there is ongoing discussion about compensation rules for Wall Street executives. The stress test conducted by the Fed showed that the largest US banks are more vulnerable than last year. Powell also addressed a long-delayed rule related to incentive-based pay for executives. Overall, the recent economic data supports the case for the Fed to begin lowering borrowing costs.

#FederalReserve #JeromePowell #Inflation #InterestRates #JobMarket #UnemploymentRate #BankingRegulations #WallStreetExecutives #StressTest

https://www.cnn.com/2024/07/09/business/fed-chair-powell-talks-up-progress-on-inflation-but-says-rate-cuts-not-imminent-yet/index.html


Key takeaways from the June jobs report
==========

The US economy added 206,000 jobs in June, with the unemployment rate rising to 4.1%. Job gains were concentrated in the government and healthcare sectors, while temporary help services saw job losses. Wage growth slowed to 0.3% for the month, setting the stage for the Federal Reserve to cut interest rates. The labor force participation rate inched up to 62.6%. The US has added 1.3 million jobs in the first half of the year. The unemployment rate increased for the third month in a row, reaching 4.1%. Job opportunities have shrunk, and the median duration of unemployment has increased to 9.8 weeks. The labor market remains historically strong.

#UsEconomy #JobsReport #UnemploymentRate #WageGrowth #FederalReserve

https://www.cnn.com/2024/07/05/economy/june-jobs-report-final/index.html


Los Angeles Lakers select Bronny James, son of LeBron James, with No. 55 pick in the NBA Draft
==========

The Los Angeles Lakers have selected Bronny James, the eldest son of superstar LeBron James, with the 55th pick in the 2024 NBA Draft. Bronny James played one season at the University of Southern California, averaging 4.8 points, 2.8 rebounds, and 2.1 assists per game. He was named a 2022-23 McDonald's High School All-American and was considered the No. 20 prospect by ESPN in the Class of 2023. LeBron James has expressed his desire to play with his son in the NBA, stating that his last year will be played with his son. Bronny James will have a chance to make his first appearance wearing a Lakers uniform during the 2024 NBA Summer League.

#LosAngelesLakers #BronnyJames #LebronJames #NbaDraft

https://www.cnn.com/2024/06/27/sport/los-angeles-lakers-bronny-james-nba-draft/index.html


The biggest US banks are more vulnerable than they were last year, Fed’s stress test shows
==========

The Federal Reserve's annual bank stress test revealed that the biggest US banks are more vulnerable than they were last year. The stress test, conducted to monitor potential weaknesses in the financial system, showed that while the banks are still on good footing, they could suffer higher losses in the event of a significant economic downturn. The 31 banks required to take the test would lose more money under this year's hypothetical scenario compared to last year due to increased risk and higher expenses. Credit card debt and late payments were areas that weighed on banks more this year, resulting in higher projected credit card losses. Banks' income from fees was also lower, giving them less of a buffer to absorb those losses. The goal of the stress test is to ensure that banks have enough capital to absorb losses in a highly stressful scenario, and this test showed that they do.

#UsBanks #FederalReserve #StressTest #FinancialSystem #EconomicDownturn #Risk #CreditCardDebt #LatePayments #Capital #Losses

https://www.cnn.com/2024/06/26/economy/fed-stress-test-results/index.html


Webb observations hint at giant asteroid collision in a nearby planetary system
==========

A collision between giant asteroids likely occurred in the Beta Pictoris star system, located 63 light-years from Earth, in recent years. The system, considered a 'teenage planetary system' at 20 million years old, is still forming. Astronomer Christine Chen observed the system using the Spitzer Space Telescope in 2004 and 2005, and later compared the data to observations made by the James Webb Space Telescope in 2023. The comparison revealed that two major dust clouds had disappeared, indicating a collision between giant asteroids. The collision likely pulverized a massive asteroid into fine dust particles, which were then pushed out of the planetary system by radiation from the central star. The observations of the Beta Pictoris system may help astronomers better understand the early days of our own solar system and the process of planet formation.

#Asteroids #BetaPictoris #JamesWebbSpaceTelescope #SpitzerSpaceTelescope #PlanetFormation

https://www.cnn.com/2024/06/16/science/webb-telescope-beta-pictoris-asteroid-collision-scn/index.html


World leaders join major Ukraine peace summit in Switzerland - but no Russia or China
==========

More than 100 countries and organizations have gathered for a major conference in Switzerland dedicated to setting out a path toward peace between Ukraine and Russia. Ukrainian President Volodymyr Zelensky aims to drum up support for his 10-point peace plan. US Vice President Kamala Harris is attending and is set to announce an aid package of more than $1.5 billion. China will not attend, stating that any meeting needs to include both Russia and Ukraine. Russian President Vladimir Putin restated the Kremlin's peace plan, which Ukraine is unlikely to agree to. Putin said nearly 700,000 Russian soldiers are fighting in Ukraine. Zelensky responded that Putin's demands are similar to Hitler's. Zelensky hopes the summit will bring peace and that most of the world is on the side of Ukraine.

#Ukraine #Russia #China #PeaceSummit #VolodymyrZelensky #KamalaHarris #VladimirPutin

https://www.cnn.com/2024/06/15/europe/ukraine-peace-summit-switzerland-intl/index.html


The good economic news this week was just that … good news
==========

This week, a string of good news in the US economy included inflation cooling more than expected, increased optimism among consumers, and falling import prices. The data suggests that the economy, hiring, and inflation are all cooling, which could lead to the Federal Reserve relaxing their policy rate later this year. The markets expect interest rate cuts as soon as September. The soft CPI bolstered traders' expectations, despite the Fed signaling only one rate cut for the remainder of the year. More good news is expected in the coming weeks, with slower inflation growth and the possibility of rate cuts in the near term.

#UsEconomy #Inflation #FederalReserve #InterestRates

https://www.cnn.com/2024/06/15/economy/good-news-inflation-may/index.html


Wall Street’s facing an economic double-whammy this week
==========

On Wednesday, Wall Street will face an economic double-whammy with the release of the May Consumer Price Index (CPI) report in the morning and the Federal Reserve's announcement on its key interest rate in the afternoon. The CPI report and the Fed's policy meeting have coincided only seven times since 2014. While some investors believe that the stock market is unlikely to swing widely due to these events, unexpected comments from Fed Chair Powell or higher-than-expected inflation metrics could lead to a small sell-off. The Fed is expected to keep rates on hold this month, but upcoming CPI data will guide its decisions in the second half of the year. Inflation showed signs of cooling in April, but other metrics suggest that inflation is still taking time to come down. The Fed will also release its latest projections for future rates and the number of rate cuts expected in 2024. Meanwhile, a survey by the Federal Reserve Bank of New York shows that US consumers are more optimistic about their current and future financial situation, the stock market, and slowing inflation. In other news, Microsoft and Google will offer free or discounted cybersecurity services to rural hospitals in the US to protect them from cyberattacks that have disrupted patient care.

#WallStreet #Economy #Inflation #FederalReserve #InterestRates #Cpi #StockMarket #Investors #RateCuts #ConsumerSpending #EconomicProjections #UsConsumers #StockPrices #Cybersecurity #RuralHospitals #Cyberattacks

https://www.cnn.com/2024/06/11/investing/premarket-stocks-trading-cpi-fed/index.html


Why Friday’s jobs report could be one for the record books
==========

The US job market showed a softer side in April when just 175,000 jobs were added, well below economists' expectations. May's jobs report is expected to show job growth of 180,000 payrolls and an unemployment rate of 3.9%. If the jobless rate stays below 4%, it would extend a streak not seen since the early 1950s. The May jobs report could mark the 28th consecutive month of sub-4% unemployment, the longest streak in over 70 years. Economists are also watching average hourly earnings, foreign-born workers, state and local public education, and the share of unemployment due to quits.

#JobsReport #UnemploymentRate #JobGrowth #Economists #LaborMarket #Inflation #FederalReserve

https://www.cnn.com/2024/06/06/economy/may-jobs-report-preview/index.html


People are exiting the stock market in droves
==========

Investors are pulling their money out of the US stock market at a near-record pace, with Bank of America clients selling off $5.7 billion more in stocks than they purchased last week. The stock market is shrinking, and recent trading flows indicate that something larger is at play this year. The usual summer doldrums are nowhere to be found, and the market may prove volatile with momentum stalling amid policy uncertainty. The number of publicly traded companies in the US has decreased from 7,300 in 1996 to about 4,300 today, while privately-owned firms now account for nearly 80% of all US job openings. The shrinking market and retreating investors suggest that the appetite for risk in the US is quickly fading. JPMorgan CEO Jamie Dimon expressed concern about the trend, stating that the total number of public companies should have grown dramatically, not shrunk. The widening gap between CEO pay and employee pay is also a cause for concern, with the median CEO in the S&P 500 being paid 196 times as much as the median employee in 2023. Additionally, the number of job openings in the US has shrunk for the second month in a row, setting a new three-year low, which could indicate a slowing in the broader economy.

#StockMarket #Investors #UsEconomy #PublicCompanies #CeoPay #JobOpenings

https://www.cnn.com/2024/06/05/investing/premarket-stocks-trading/index.html


Job openings fall to new 3-year low, as the US economy continues to slow
==========

The number of job openings in the US shrank for the second month in a row, setting a new three-year low. There were 8.06 million available jobs posted in April, below the downwardly revised 8.36 million seen a month before and the lowest since February 2021. Economists were expecting job openings to register 8.36 million. As of April, there were an estimated 1.2 available jobs for every job seeker, the lowest ratio since June 2021. Layoffs remain low, with the quits rate holding steady at 2.2% for the sixth consecutive month. The US economy added just 175,000 jobs last month and unemployment rose to 3.9%. A slowing of job growth could put the labor market on closer footing to pre-pandemic levels, but it also could mean a slowing in the broader economy. The Federal Reserve is wanting to see demand soften and price hikes slow even further. The decline in job openings points to a slower pace of hiring in the months ahead, but layoffs remain low, so net job growth should continue to be positive. The Federal Reserve will welcome signs of cooler labor market conditions, but the JOLTS data don’t change our view that the Fed will be content to keep interest rates at current levels until September. Openings remain above pre-pandemic levels, but there are caveats that come into play with JOLTS, such as lower survey response rates and demographic shifts affecting the labor market.

#JobOpenings #UsEconomy #LaborMarket #Unemployment #FederalReserve

https://www.cnn.com/2024/06/04/economy/job-openings-quits-jolts-april/index.html


Stocks slide as Wall Street worries about the economy’s health
==========

US stocks tumbled Monday after fresh data stoked concerns about the economy’s health. The Dow slid 300 points, or 0.8%, after tumbling more than 400 points earlier in the day. The S&P 500 declined 0.3% and the Nasdaq Composite added 0.1%. The Institute for Supply Management manufacturing index for May was 48.7%, down from 49.2% in April, indicating signs of contraction in the US manufacturing industry. Investors have been grappling with data suggesting inflation is continuing to run hot while the economy cools, leading to concerns that the Federal Reserve will keep interest rates higher for longer than expected. The Personal Consumption Expenditures price index showed that inflation stayed high in March. New gross domestic product data showed that the US economy expanded at a weaker pace in the first quarter than initially reported. The New York Stock Exchange experienced a technical issue that halted trading for some stocks. This is a developing story.

#Stocks #WallStreet #Economy #Dow #S&p500 #Nasdaq #InstituteForSupplyManagement #ManufacturingIndex #FederalReserve #InterestRates #Inflation #GrossDomesticProduct #NewYorkStockExchange

https://www.cnn.com/2024/06/03/investing/stocks-ism-economy-updates?cid=external-feeds_iluminar_yahoo


The college job market offers a warning sign to the US labor market
==========

The unemployment rate for recent US college grads has jumped over the past year, while the nation's overall unemployment rate has remained flat, under 4%. The job market for recent college graduates is much less rosy than the overall job market. The unemployment rate for bachelor’s degree recipients aged 20 to 29 is above 12%, an almost four percentage point increase from a year ago. This indicates a greater slowdown happening in the economy. College grads could be getting passed over by people who were laid off from prior jobs. The article features the experiences of Bryn Savidge, Angela Mangione, and Moises Brito, recent college graduates who are struggling to find full-time employment. Savidge has applied to over 100 jobs but has not received a single full-time offer. Mangione has been experiencing long delays in hearing back from jobs and has shifted her focus to campaign jobs. Brito managed to secure a full-time position after internships, but encountered ghosting when applying for summer internships. The article highlights the role of luck in career success and the challenges faced by recent college graduates in the job market.

#CollegeJobMarket #UsLaborMarket #UnemploymentRate #RecentCollegeGraduates #Economy #JobMarket #Employment

https://www.cnn.com/2024/05/31/economy/job-market-for-college-grads/index.html


New York Times: Upside-down US flag flew at home of Justice Samuel Alito after 2020 election
==========

An upside-down American flag, a symbol used by some supporters of former President [Trump] who challenged the legitimacy of Joe Biden’s 2020 victory, hung outside the home of Supreme Court Justice Samuel Alito after the election. The flag was seen at the justice’s home in Alexandria, Virginia, on January 17, 2021. Alito denies involvement and claims it was briefly placed by Mrs. Alito in response to a neighbor’s use of objectionable language on yard signs. The upside-down flag became a symbol of the 'Stop the Steal' movement and was widely seen during the January 6, 2021, attack on the US Capitol. The revelation may prompt calls for Alito to recuse himself from high-profile cases involving the election and subsequent attack on the US Capitol. Justice Clarence Thomas has also faced criticism and calls for recusal after his wife, Virginia 'Ginni' Thomas, acknowledged attending Trump’s rally before the Capitol attack and supporting efforts to discredit the election results. The story adds to the scrutiny on the high court, which is already facing considerable blowback. Congress is urged to impose meaningful ethics enforcement on a court that refuses to police itself.

#JusticeSamuelAlito #UsFlag #2020Election #JoeBiden #DonaldTrump #SupremeCourt #Recusal #StopTheSteal #UsCapitolAttack #ClarenceThomas #VirginiaThomas #EthicsEnforcement #Congress

https://www.cnn.com/2024/05/16/politics/alito-upside-down-american-flag-house/index.html


The Economy’s Bad Vibes
==========

The episode of The Assignment with Audie Cornish explores the state of the economy and the conflicting messages about it. A listener from Los Angeles calls in with a question about why they can't make a living wage at their job. Dr. Gary Hoover, Executive Director of The Murphy Institute and Professor of Economics at Tulane University, provides insights into the economy's bad vibes and the challenges faced by individuals. The discussion covers topics such as wages, rising prices, student loans, and the disillusionment of millennials. The episode also features an email from a listener who is a CNN technical operator and musician. The email includes a song inspired by The Assignment and conveys the importance of respectful dialogue despite differences. Overall, the episode highlights the complexities of the economy and the need for thoughtful policies to address the challenges faced by individuals.

#Economy #Wages #Prices #StudentLoans #Millennials #Policy

https://www.cnn.com/audio/podcasts/the-assignment/episodes/909eece6-ae4a-11ee-8467-d3288baf1c6f


The world’s best countries for tourism, according to the World Economic Forum
==========

The United States has been named the world’s best country for travel and tourism in 2024 by the World Economic Forum. The rankings are determined by criteria such as infrastructure, natural resources, sustainability, labor availability, and competitive pricing. Six of the top 10 countries are in Europe, with Spain being the highest overall. Japan is the highest-rated country in Asia, while Australia is the only country in Oceania to make the top 10. The United Kingdom welcomed over 37 million tourists in 2023. The top 10 countries for tourism are: 1. United States, 2. Spain, 3. Japan, 4. France, 5. Australia, 6. Germany, 7. United Kingdom, 8. China, 9. Italy, 10. Switzerland.

https://www.cnn.com/travel/world-best-tourism-countries-world-economic-forum-2024/index.html


Class of 2024: How’s your job search going?
==========

CNN wants to hear from the class of 2024 about their job searches. Despite a low unemployment rate and millions of job openings, getting a job straight out of college has never been easy. CNN is asking recent graduates to share their experiences for a possible upcoming story. The article emphasizes that economic data can sometimes tell a different story than the reality people are experiencing.

#JobSearch #ClassOf2024 #CollegeGraduates #UnemploymentRate #EconomicData

https://www.cnn.com/2024/05/20/business/gradute-college-but-havent-been-hired-yet/index.html


Seize The Grey wins Preakness Stakes as Derby winner Mystik Dan comes in second
==========

Seize The Grey, ridden by Jaime Torres, won the 149th running of the Preakness Stakes at Pimlico Race Course in Baltimore. The race was run on a muddy track, which suited Seize The Grey. Mystik Dan, the Kentucky Derby winner, finished second, and Catching Freedom took third. Trainer D. Wayne Lukas earned his seventh Preakness Stakes crown at the age of 88. The Belmont Stakes, the final leg of the Triple Crown, will be held on June 8 in Elmont, New York. In the Kentucky Derby, Mystik Dan won in a dramatic photo finish, narrowly beating Sierra Leone and Forever Young. Muth, the initial favorite for the Preakness, was ruled out due to a fever. Mystik Dan, trained by Bob Baffert, was ineligible to run in the Kentucky Derby due to Baffert's ban at Churchill Downs.

#PreaknessStakes #HorseRacing #SeizeTheGrey #MystikDan #KentuckyDerby #JaimeTorres #DWayneLukas #BelmontStakes #BobBaffert

https://www.cnn.com/2024/05/18/sport/preakness-stakes-spt-intl/index.html


Jamie Dimon and Ray Dalio sound the alarm on soaring US government debt
==========

Jamie Dimon, CEO of JPMorgan, and Ray Dalio, founder of Bridgewater Associates, have expressed concerns about the growing US government debt. Dimon hopes the government will focus on reducing the budget deficit before financial markets force action. Dalio is worried about waning investor appetite for US government bonds, which could lead to higher borrowing costs. The Treasury Department estimates the US government debt at $34.6 trillion. The IMF and the Congressional Budget Office have also warned about the risks of high government debt. Investors are already demanding higher returns on US Treasuries. Debt servicing costs have increased, leaving less money for public services.

#JamieDimon #RayDalio #UsGovernmentDebt #BudgetDeficit #TreasuryBonds #BorrowingCosts #Imf #CongressionalBudgetOffice

https://www.cnn.com/2024/05/16/business/jamie-dimon-ray-dalio-us-government-debt/index.html


The backbone of America’s economy was just dealt a serious blow
==========

US consumers are starting to rein in their spending as retail sales were unchanged from March, missing economists' projections of a 0.4% increase. Last month, retail sales were up by a downwardly revised 0.6%. By comparison, a year ago, retail sales surged by 3%. April retail sales, excluding auto sales, were up by 0.2%. Gas stations saw the biggest monthly increase in spending at 3.1%. Online retail sales fell by 1.2% last month. The nation's annual inflation rate eased from 3.5% in March to 3.4% in April. Both pieces of data are welcome news for Federal Reserve officials. This is a developing story.

#UsEconomy #RetailSales #ConsumerSpending #Inflation #FederalReserve

https://www.cnn.com/2024/05/15/economy/us-retail-sales-april?cid=external-feeds_iluminar_yahoo


US wholesale inflation just hit its highest rate in a year
==========

Wholesale inflation in the US reached its highest rate in a year, with the Producer Price Index (PPI) measuring a 2.2% increase for the 12 months ended in April. This is in line with economists' expectations and represents a faster pace than the previous month. The PPI serves as a potential indicator for retail-level inflation in the future. The Consumer Price Index for April, which provides a more critical read on inflation, will be released the following day.

#WholesaleInflation #ProducerPriceIndex #Ppi #Economy #Us

https://www.cnn.com/2024/05/14/economy/ppi-wholesale-inflation-april/index.html


Putin replaces Russia’s defense minister with a civilian, citing rising military spending and need for innovation
==========

Russian President Vladimir Putin has replaced his defense minister Sergei Shoigu with a civilian, Andrey Belousov, citing the country’s rising military spending and the need for “innovation.” Shoigu had been “relieved” of his post of Minister of Defense by presidential decree and been appointed Secretary of Russia’s Security Council. Belousov, who previously served as first deputy prime minister, is a civilian. The new appointment does not signal a shift in Russia’s current military system. In his new role, Shoigu will oversee Russia’s military industrial complex. The news follows the arrest last month of one of Shoigu’s close allies, deputy defense minister Timur Ivanov, who was charged with taking a bribe. Ivanov has been accused of accepting a bribe of 1 million rubles. Shoigu has also been criticized for his handling of the invasion of Ukraine. Putin has proposed Andrei Belousov, a 65-year-old former deputy prime minister who specializes in economics, to replace Shoigu as defense minister.

#Russia #Putin #DefenseMinister #MilitarySpending #Innovation

https://www.cnn.com/2024/05/12/europe/sergei-shoigu-putin-replaces-defense-minister-intl-latam/index.html


Biden calls US ally Japan ‘xenophobic’ along with India, Russia and China
==========

President Joe Biden called close US ally Japan 'xenophobic' at a Washington, D.C., fundraiser, along with India, Russia, and China, arguing that these countries would perform better economically if they embraced immigration. Press secretary Karine Jean-Pierre clarified that Biden was making a larger point about the US being a nation of immigrants. The critique of Japan comes after Biden hosted Japanese Prime Minister Fumio Kishida for a state visit and emphasized the strong alliance between the two countries. Japan has long experienced a demographic crisis and has been hesitant to use immigration to bolster its population. Biden's comments also come amid political pressure over his own immigration policies and strained resources to deal with an influx of migrants.

#JoeBiden #Japan #Xenophobia #Immigration #UsjapanAlliance

https://www.cnn.com/2024/05/02/politics/biden-japan-xenophobic-us-ally/index.html


Biden administration set to revamp Trump’s tariff program after multi-year review, sources say
==========

The Biden administration is planning to announce a restructuring of former President Donald Trump's tariffs on Chinese imports. The announcement, expected next week, will see tariffs increased significantly in industries deemed strategic to the US economy, such as electric vehicles, solar components, and critical minerals made in China. Tariffs on electric vehicles could rise as high as 100%. The changes are a result of a mandatory review by the Office of the US Trade Representative that began in 2022. The Biden administration aims to protect domestic industries from state-sponsored competition while promoting clean energy investments. Some economists warn that increased tariffs risk reigniting a trade war with China and hurting the US economy. Americans have already paid over $230 billion in tariffs imposed by Trump. The Biden administration's proposal represents a more curated approach to tariffs. The Office of the US Trade Representative faces a deadline at the end of May to decide on extending or denying exclusions from certain tariffs. Treasury Secretary Janet Yellen has discussed US concerns with China's non-market practices in bilateral meetings. The Biden administration has been urging its allies in the European Union to place hefty tariffs on electric vehicles imported into the bloc. The European Commission faces a July 4 deadline to decide on its own investigation into electric vehicle subsidies.

#BidenAdministration #Trump'sTariffProgram #Tariffs #China #UsEconomy #ElectricVehicles #SolarComponents #CriticalMinerals #CleanEnergyInvestments #TradeWar #UsTradeRepresentative #Exclusions #JanetYellen #EuropeanUnion #ElectricVehicleSubsidies

https://www.cnn.com/2024/05/10/politics/joe-biden-tariffs-program-donald-trump/index.html


5 things to know for May 9: Biden, Immigration, Capitol Hill, Severe weather, Starliner
==========

President Joe Biden says he will halt some shipments of US weapons to Israel if they launch a major invasion of Rafah. The Biden administration is expected to propose a rule cracking down on migrants ineligible to claim asylum. The House voted to kill Republican Rep. Marjorie Taylor Greene's effort to oust Speaker Mike Johnson. Millions in the Southeast US are bracing for severe weather. Boeing's Starliner spacecraft is now expected to launch no sooner than May 17 after a valve issue halted the mission.

#JoeBiden #Israel #WeaponsShipment #Rafah #Asylum #Migrants #UsmexicoBorder #MarjorieTaylorGreene #MikeJohnson #SevereWeather #BoeingStarliner

https://www.cnn.com/2024/05/09/us/5-things-to-know-for-may-9-biden-immigration-capitol-hill-severe-weather-starliner/index.html


They have jobs but still need help to feed their families
==========

The rising cost of living in the US is making it difficult for people with jobs to feed their families. Many working families are struggling to make ends meet as the cost of living skyrockets, leaving little money for food. Despite a strong economy, over 23 million people in the US live in households where there is not enough food to eat. The cost of groceries has increased by about 33.5% since the start of the pandemic. Although wages have increased, many pandemic supports such as enhanced child tax credits and more generous food stamp benefits have expired. As a result, food banks are experiencing greater demand, with about 75% of food banks reporting an increase in the number of people served. Middle-class families are also facing pressure as their wages have not kept up with inflation. Food insecurity is now as bad as it was in the first few months of the pandemic.

#FoodInsecurity #CostOfLiving #WorkingFamilies #GroceryPrices #Wages #PandemicSupports #FoodBanks

https://www.cnn.com/2024/05/04/business/us-food-insecurity-cost-of-living/index.html


Justice Dept plans to reschedule marijuana as a lower-risk drug
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The Biden administration plans to reclassify marijuana as a lower-risk substance by rescheduling it from Schedule I to Schedule III, according to a person familiar with the plans. The US Department of Justice recommended the rescheduling, which would acknowledge the potential medical use of marijuana and carry implications for cannabis-related research and the booming industry. The formal rulemaking process, including a public comment period, could take months to complete. The move was hailed by lawmakers on both sides of the aisle as a step closer to ending the failed war on drugs. However, rescheduling marijuana will not resolve the federal-state conflict, and recreational marijuana would remain illegal under federal law. The reclassification could open avenues for research, ease criminal consequences, and allow cannabis businesses to bank more freely. The US has seen a significant shift in public sentiment towards cannabis legalization, with a record 70% of Americans supporting it in a recent survey. Currently, 24 states and DC have legalized cannabis for adult recreational use, and 38 states allow medical use. State-licensed cannabis dispensaries and retail shops are expected to generate $32.1 billion in sales this year. The rescheduling recommendation follows a thorough review by the US Health and Human Services department and the US Food and Drug Administration, which concluded that marijuana has a lower potential for abuse than other substances on Schedules I and II, has a currently accepted medical use, and poses a low or moderate risk of physical dependence. The National Institute on Drug Abuse concurred with the recommendation.

https://www.cnn.com/2024/04/30/economy/dea-marijuana-rescheduling/index.html


Americans’ pay gains rose faster than expected so far this year
==========

The Employment Cost Index (ECI) rose 1.2% in the first quarter of 2024, faster than the 0.9% increase in the prior quarter. The index measures changes in wages and benefits and is closely monitored by the Federal Reserve. Higher benefits costs contributed to the increase, with benefits rising to 1.1% from 0.7% in the prior quarter. Wage and salary growth remained unchanged at 1.1%. On an annual basis, the index held steady at 4.2% for the year ending in March. The public sector saw the highest compensation growth at 4.8% for the same period. Adjusted for inflation, wages and benefits were up 0.8% annually. Economists had expected quarterly growth of 0.9% and annual gains of 4%. The news caused US stocks to fall, with Dow futures down 0.5% in premarket trading. The Federal Reserve is expected to announce that interest rates will remain unchanged at its latest policymaking meeting. The ECI report is seen as good news for the economy and the strength of economic growth. However, it raises concerns about inflation and may delay a potential rate cut by the Fed.

#WageGrowth #Inflation #FederalReserve #EmploymentCostIndex #UsEconomy

https://www.cnn.com/2024/04/30/economy/employment-cost-index-eci-wages-q1/index.html


Investors are fearful. They shouldn’t be | CNN Business
==========

Investors are fearful due to faltering tech stocks, fears of higher interest rates, and geopolitical conflict leading to a drop in US markets. However, Philipp Carlsson-Szlezak, Boston Consulting Group’s global chief economist, believes there is too much doomsaying on Wall Street. He argues that the economy has been resilient and that recession fears are far from reality. Carlsson-Szlezak points out that stocks are still near all-time highs and this earnings season has been strong. He also discusses the potential impact of geopolitical worries and the importance of looking at the real economy. While he acknowledges the risks, he believes that the real economy has not been significantly affected by geopolitical crises. Carlsson-Szlezak suggests that short-term economic data can be unpredictable, but the overall market valuations and prices indicate that the doomsaying may be overblown. He predicts that the next recession is unlikely to occur in 2024 and highlights the importance of watching the labor market and consumer spending in the second half of the year.

#Investors #Fear #UsMarkets #EconomicResilience #Recession #GeopoliticalRisk

https://www.cnn.com/2024/04/22/investing/premarket-stocks-trading/index.html


Columbia University faces full-blown crisis as rabbi calls for Jewish students to ‘return home’
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Columbia University is facing a crisis as a rabbi associated with the school urges Jewish students to stay home due to safety concerns. Tensions have been high since the October 7 terror attack on Israel by Hamas, and recent events have escalated the situation. Columbia President Minouche Shafik is facing criticism from her critics, with calls for her resignation. The White House and New York officials have condemned the violence and harassment targeting Jewish students. The university has announced that students can attend classes virtually starting on the first day of Passover. Protests and counter-protests have been taking place on and near campus, with concerns about student safety. The university's Hillel organization believes that Jewish students should not leave campus, while a rabbi associated with the university has recommended that they stay home. The protests at Columbia have inspired solidarity rallies at other universities. The situation has drawn attention to the issue of antisemitism on college campuses.

#ColumbiaUniversity #JewishStudents #Protests #Antisemitism #SafetyConcerns #WhiteHouse #NewYorkOfficials #Hillel #Passover #SolidarityRallies

https://www.cnn.com/2024/04/21/us/columbia-university-jewish-students-protests/index.html


Live updates: House passes Ukraine, Israel and Taiwan aid
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The House has passed a $95 billion package providing foreign aid for the Indo-Pacific region. The package includes a bill addressing House GOP priorities such as sanctions on Iran and a potential TikTok ban. GOP Speaker Mike Johnson joined with Democrats to advance the measure, drawing criticism from hardline members of the Republican Party. President Joe Biden praised the passage of the foreign aid bills and urged the Senate to quickly send the package to his desk. Israeli Prime Minister Benjamin Netanyahu thanked the US House for passing the Israel aid bill. Ukrainian President Volodymyr Zelensky expressed gratitude for the aid bill, stating that it will help both nations become stronger. The House also passed the Israel Security Supplemental, which includes $26.4 billion in aid for Israel, funding for missile defense systems, and humanitarian assistance. House Speaker Mike Johnson's job is safe for now, as Rep. Marjorie Taylor Greene said she won't move forward with a motion to vacate. Some Democrats argue that Johnson's job is not worth saving, while others express an openness to saving it. The House is adjourned until April 29 after a one-week recess.

#House #ForeignAid #Ukraine #Israel #Taiwan #Gop #MikeJohnson #Bipartisan #JoeBiden #BenjaminNetanyahu #VolodymyrZelensky

https://www.cnn.com/politics/live-news/house-vote-ukraine-israel-taiwan-aid-04-20-24/index.html


House passes legislation that could ban TikTok in the US amid high-stakes vote on foreign aid
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The US House of Representatives has passed legislation that could ban TikTok in the US unless it separates from its Chinese parent company, ByteDance. The bill, which was attached to an aid package for Israel and Ukraine, closely resembles an earlier version that would ban TikTok from US app stores unless it finds a new owner within 270 days. The bill also gives the White House the option to extend the deadline for another 90 days. TikTok has opposed the bill, arguing that it violates users' First Amendment rights and threatens small businesses. The Senate is expected to take up the aid package quickly, and President Joe Biden has previously stated that he would sign the TikTok legislation if it reaches his desk.

#Tiktok #UsHouseOfRepresentatives #Legislation #Ban #Bytedance #China #AppStores #Senate #ForeignAid #PresidentJoeBiden

https://www.cnn.com/2024/04/20/tech/house-passes-legislation-that-could-ban-tiktok-in-the-us-amid-high-stakes-vote-on-foreign-aid/index.html


Your movie theater may be shortchanging your drinks, a lawsuit alleges
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A lawsuit has been filed against Cinemark, alleging that the theater chain's 24-ounce drink cups can only hold a maximum of 22 ounces, misleading customers. The lead plaintiff, Shane Waldrop, ordered a 24-ounce beer from a Texas Cinemark theater and found that the container only held 22 ounces. The lawsuit claims that Cinemark's false advertising violates state and federal laws. Concessions are a major part of a movie theater's business, and rising prices have boosted revenue. Waldrop's lawsuit claims that some of that revenue came through shortchanging customers. The practice of reducing the size of products to cut costs, known as 'shrinkflation,' has been in the spotlight recently. The lawsuit seeks class-action status.

#Cinemark #Lawsuit #FalseAdvertising #Concessions #Shrinkflation

https://www.cnn.com/2024/04/19/business/cinemark-drink-lawsuit/index.html


Build up your portfolio with BRICS
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BRICS is an acronym for a group of large emerging-market nations: Brazil, Russia, India, China, and South Africa. The term was coined in 2001 by Goldman Sachs economist Jim O’Neill. The group held its first official meeting in 2009 and added South Africa in 2010. In January 2024, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) joined the group. China has the largest economy among the BRICS, followed by the United States. India has the world's fifth-largest economy. Brazil has the 11th-largest economy, Russia the eighth-largest, and South Africa the smallest. Investing in BRICS can be done through exchange-traded funds (ETFs), which offer greater diversification and ease of buying and selling for individual investors. However, investing in BRICS ETFs also entails currency risk due to the volatility of BRICS currencies. Owning a diversified portfolio of BRICS ETFs can help mitigate country-specific risks. Several multi-BRICS ETFs exclude Russia and China due to investor concerns. BRICS ETFs can be bought or sold on exchanges. The major risks associated with investing in BRICS include market risk, currency risk, and political risk. BRICS ETF performance can be tracked on financial news and information websites or through brokerage accounts. BRICS investments are typically considered long-term investments due to volatility in the short term.

#Brics #Investing #EmergingMarkets #Etfs #Economy

https://www.cnn.com/cnn-underscored/money/invest-in-brics


Pilot union alleges ‘significant spike’ in safety issues on American Airlines flights
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The Allied Pilots Association, the union representing pilots at American Airlines, has reported a "significant spike" in safety issues on flights. The union warns of problematic trends, including tools being left in aircraft wheel wells, collisions involving planes being towed on the ground, and pressure to return aircraft to line service to maintain on-time performance. This comes after a series of incidents on flights, including the January 5 door plug blowout on an Alaska Airlines Boeing 737 Max 9. American Airlines insists that safety is its top priority and that it has a robust safety program guided by its industry-leading safety management system.

#AmericanAirlines #PilotUnion #SafetyIssues #Flights #AlliedPilotsAssociation

https://www.cnn.com/2024/04/16/business/pilot-union-alleges-significant-spike-in-safety-issues-on-american-airlines-flights/index.html


IMF raises growth forecast for ‘overheated’ US economy and urges caution on rate cuts
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The International Monetary Fund (IMF) has upgraded its forecast for US economic growth to 2.7% this year, highlighting how the United States is outpacing other advanced economies. The IMF expects the 20 countries that use the euro to grow just 0.8% this year. The global economy is seen expanding by 3.2%, with China's economy forecast to grow 4.6% and India expected to notch growth of 6.8%. The IMF chief economist Pierre-Olivier Gourinchas wrote that the US economy remains overheated and called for a cautious and gradual approach to monetary easing by the Federal Reserve. The IMF also raised concerns about high government spending and debt levels in the United States, which pose risks to inflation and global financial stability. In contrast, there is little evidence of overheating in the euro area, according to Gourinchas. The IMF expects global inflation to average 5.9% this year, down from an average of 6.8% in 2023 but slightly above its January forecast. The IMF also highlighted the potential risks to inflation from higher oil prices, trade restrictions on Chinese exports, and dumping by China.

#Imf #UsEconomy #EconomicGrowth #Inflation #FederalReserve

https://www.cnn.com/2024/04/16/economy/imf-us-economy-growth-inflation-warning/index.html


Activists helped shut down an oil refinery after a series of explosions. The consequences weren’t what they expected
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Activists helped shut down the Philadelphia Energy Solutions Refining Complex, the largest oil refining complex on the East Coast, after a series of explosions in June 2019. The explosions prompted the company to file for bankruptcy and shut down the refinery. The property was later sold to Hilco Redevelopment Partners, who now owns the 1,300-acre site. The land is currently undergoing cleanup and redevelopment plans are underway. Nearby residents, who have been affected by the refinery's pollution, are asking for the land to be used in a more sustainable way and for better community engagement in decision-making. The redevelopment process is complicated by environmental concerns and the timeline for improvements remains unclear. The former refinery was a major source of air pollution and residents in the surrounding neighborhoods suffer from high rates of asthma and cancer. The redevelopment plans by Hilco include the creation of a state-of-the-art campus with warehouses and life sciences laboratories, but there are concerns about the number and nature of the jobs it will generate. Activists are advocating for a seat at the table during the planning process to ensure the future of the property benefits the community.

#OilRefinery #Explosions #Bankruptcy #Cleanup #Redevelopment #Pollution #CommunityEngagement

https://www.cnn.com/2024/04/14/economy/oil-refinery-philadelphia-development-climate/index.html


Wall Street wants answers from big banks about the economy
==========

Investors are on edge after the latest Consumer Price Index showed that inflation grew faster than expected in March. This has increased the pressure for corporations to make a strong showing in the upcoming earnings season. Big banks, including JPMorgan Chase, BlackRock, Citigroup, Wells Fargo, and PNC Financial Services, are set to report their quarterly updates. Investors will be watching closely for signs of stress on the consumer and the impact of surging gas prices. The Federal Reserve's plans for interest rate cuts have also been affected by persistent inflation and the economy's resilience. Some investors now believe the Fed may only cut rates once or twice in 2024, or keep them on hold through the end of the year. Elevated rates are a double-edged sword for banks, as they can help pad net interest income but also add stress to the financial sector. The collapse of several regional banks last year raised concerns about a recession. Inflation in the US grew stronger than expected in March, with consumer prices increasing by 3.5% for the 12 months ended in March. This could force the Federal Reserve to keep interest rates higher for longer. President Joe Biden acknowledged that there is more to do to bring down inflation. Some Federal Reserve officials worry that inflation could remain stubbornly high, which could result in interest rates remaining higher for longer. The Fed has kept its key interest rate at a two-decade high for the fifth straight meeting and wants to see more evidence that inflation is headed toward its 2% goal.

#WallStreet #BigBanks #Economy #Inflation #EarningsSeason #InterestRates

https://www.cnn.com/2024/04/11/investing/premarket-stocks-trading-bank-earnings/index.html


How Trump’s tariff plans could kill jobs and worsen inflation
==========

Former President Donald Trump has expressed his intention to pursue a more aggressive trade strategy if he is elected in November, including a 10% across-the-board tariff on imports, a 60% tariff on imports from China, and a 100% tariff on foreign cars. Economists warn that these policies could worsen inflation, kill jobs, depress growth, and potentially lead to a recession. Moody's projections suggest that Trump's proposed tariffs would cost the US economy 675,000 jobs, reduce GDP by 0.6%, and increase the unemployment rate by 0.4%. Inflation would also increase by 0.7 percentage points. Goldman Sachs predicts that higher tariffs would slow GDP growth and raise consumer prices. Experts caution that new tariffs could have negative indirect effects, such as tightening financial conditions, hitting business sentiment, and increasing trade policy uncertainty. Trump's tough talk on trade is concerning because the president has significant unilateral authority on trade matters. However, implementing new tariffs at this time could be ill-timed, as inflation remains stubbornly high and the Federal Reserve may struggle to cut interest rates. Trump's trade strategy of imposing tariffs on China and other countries has been criticized for its impact on US consumers and businesses, who ultimately bear the costs. The Trump campaign argues that his trade policies were part of building the strongest economy in American history, while the Biden campaign criticizes Trump's economic record and warns that his plans for a second term would harm the middle class. Tariffs have become a bipartisan strategy due to their political appeal, despite their questionable effectiveness.

#DonaldTrump #Tariffs #Trade #Economy #Inflation #Jobs #Recession

https://www.cnn.com/2024/04/11/economy/trump-tariffs-trade-jobs-inflation/index.html


Biden defends his handling of the economy amid latest rough inflation numbers
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President Joe Biden defended his handling of the economy hours after a key economic report found that progress on slowing inflation has stalled. Inflation has dogged the president and his approval ratings on the economy have suffered as prices have soared following the easing of the Covid-19 pandemic. Biden pointed to success “dramatically” reducing the rate of inflation from 9% to 3% as he sought to convince Americans that “we’re better situated than we were when we took office, where inflation was skyrocketing.” However, according to a CNN poll, a majority of Americans believe Biden’s policies have worsened economic conditions in the country. Biden’s approval rating for handling the economy currently stands at 37% among the full public. US stocks tanked after the release of the hotter-than-expected inflation data. The president stood by his prediction that there will be a cut in interest rates by the Federal Reserve, and that could happen “before the year is out,” though he cautioned that it could be delayed.

#JoeBiden #Economy #Inflation #ApprovalRatings #FederalReserve

https://www.cnn.com/2024/04/10/politics/joe-biden-economy-inflation/index.html


Banks say they’re meeting climate pledges. A new report says they’re ineffective
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A new report published by economists from the ECB, MIT, and Columbia Business School casts doubts on the effectiveness of banks' environmental pledges. The report analyzed lending by some European signatories and found that banks in the Net-Zero Banking Alliance did not increase interest rates on loans to companies with high carbon emissions, and the companies receiving loans from these banks were not more likely to set goals for decarbonization. European banks had only reduced their lending to carbon-heavy sectors by 20% since 2018, regardless of whether they signed onto the commitment. Some large banks are pulling out of high-commitment climate pledges, and Republican backlash is growing against investing strategies that evaluate stocks using environmental, social, and governance factors.

#Banks #ClimatePledges #EnvironmentalCommitments #CarbonEmissions #NetzeroBankingAlliance #Lending #Decarbonization #RepublicanBacklash #InvestingStrategies

https://www.cnn.com/2024/04/10/investing/premarket-stocks-trading/index.html


Opinion: Our nation can’t afford partisan delays in Baltimore bridge collapse recovery
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Larry Hogan, former Maryland governor and Republican candidate for US Senate, emphasizes the need for bipartisan cooperation in the recovery efforts following the collapse of the Francis Scott Key Bridge in Baltimore. The economic consequences of the bridge collapse are not limited to Baltimore or Maryland, but are already affecting workers and consumers across the country. The Port of Baltimore, the largest entry point in the US for sugar and agricultural and construction equipment, has been blocked due to debris from the collapse, impacting farmers and the automobile market. Hogan urges leaders to provide immediate financial support for the affected workers, avoid delays in funding for debris removal and bridge reconstruction, and simplify the environmental and regulatory processes to expedite the rebuilding of the bridge. He cites the bipartisan approach taken in the rebuilding of the I-35W Mississippi River bridge in Minneapolis after its collapse in 2007 as a precedent for swift action. Hogan emphasizes the need to prioritize the recovery efforts and rise above partisan politics for the benefit of the nation.

#BridgeCollapse #Bipartisanship #RecoveryEfforts #EconomicConsequences #PortOfBaltimore

https://www.cnn.com/2024/04/09/opinions/partisan-delays-baltimore-bridge-collapse-recovery-hogan/index.html


Why gold prices are at record highs
==========

The price of spot gold reached $2,364 per ounce Tuesday after hitting record highs for seven straight sessions and trading at $2,336 per ounce Monday. Year on year, gold is up 16.5%. Investors who expect the Federal Reserve to cut its benchmark interest rate are the main force driving up prices, but the surge is boosted by other factors, including central banks — led by China — buying up gold to ease reliance on US dollars. Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. Central banks demanding gold is a sign of waning reliance on the dollar. Central bank buying has driven the rise in gold prices since 2022. The rise in prices comes amid US Treasury Secretary Janet Yellen’s visit to China to discuss financial stability in US-China relations. Higher oil prices are likely to stoke concerns over inflation, boosting gold prices. Some investors are buying into the hype around gold bullion as prices rise, pushing them further up. Gold is a traditional asset during political uncertainty.

https://www.cnn.com/2024/04/09/economy/gold-prices-record-highs/index.html


‘Betrayal’: Anti-abortion voter reacts to Trump’s stance on the issue
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Anti-abortion voter Rebekah Haynie reacts to former President Donald Trump's stance on abortion legislation, stating that it feels like a betrayal. Haynie believes that abortion should be a federal issue and that Trump's support for leaving it up to the states goes against his previous promises. She expresses disappointment in Trump's change of position and feels that he is not standing up for the unborn. Haynie also discusses the importance of the Supreme Court and the 2024 elections in shaping abortion laws.

https://www.cnn.com/videos/politics/2024/04/09/trump-abortion-stance-voters-lcl-vpx.cnn


Japan’s Kishida warns world at ‘historic turning point’ as he touts importance of US alliance
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Japanese Prime Minister Fumio Kishida warns that the world is at a 'historic turning point' due to escalating geopolitical tensions, including Russia's aggression in Ukraine and the situation in East Asia. Kishida emphasizes the importance of the Japan-United States alliance and the need to reinforce Japan's defense capabilities. He will meet with US President Joe Biden in a closely watched summit to discuss modernizing the alliance and addressing regional threats. Kishida has overseen a shift in Japan's defense posture, moving away from its pacifist past and increasing defense spending. He cites the security environment in East Asia, including ballistic missile development and territorial disputes, as reasons for the shift. Kishida also expresses the importance of Japan's deterrence and response capability for the alliance with the US. The upcoming summit will also deepen cooperation between Japan and the Philippines. Kishida's visit to the US comes as both leaders face uncertain circumstances at home, with Kishida dealing with low approval ratings and the potential return of former President Donald Trump. Kishida believes the importance of the US-Japan alliance is widely recognized regardless of party affiliation. He has positioned Japan as a global partner to the US and has aligned with G7 countries on issues such as Ukraine and Russia. Kishida's government is monitoring exchanges of equipment between North Korea and Russia and joint military drills between China and Russia. He emphasizes the importance of maintaining a free and open international order based on the rule of law and promoting cooperation among the international community.

#Japan #Us #FumioKishida #JoeBiden #GeopoliticalTensions #DefenseCapabilities #UsjapanAlliance #Summit #Russia #Ukraine #EastAsia #BallisticMissiles #TerritorialDisputes #China #SouthChinaSea #Taiwan #Philippines #PacifistConstitution #Gdp #DonaldTrump #GlobalSecurity #UkraineCrisis #NorthKorea #RussiachinaCooperation #InternationalOrder #RuleOfLaw #Cooperation

https://www.cnn.com/2024/04/07/asia/japan-kishida-us-defense-intl-hnk/index.html


Why some people feel good about their bank accounts but bad about the economy
==========

A recent poll showed that voters in swing states feel good about their personal finances but think the national economy is in bad shape. Nathan Frederiksen, a financial analyst, feels good about his bank account but not about the larger economy. Ben Harris, director of the Economic Studies program at Brookings, suggests that people's information sources, such as social media and biased cable news, may contribute to their perception of the economy. Despite positive economic data, Americans may still feel financial anxiety due to the lingering effects of the pandemic and past economic crises. Megan McCoy, a professor of financial therapy, explains that chronic financial pain can decrease people's pain tolerance and make them more reactive to economic news. However, consumer behavior, such as continued spending and investing in the stock market, suggests that Americans overall feel good about their economy. Some Americans, like Julie Levitch, worry about the future due to past financial struggles, while others, like Dave Koloskee, fear a stock market crash. Despite these concerns, there have been real inflation-adjusted wealth gains across the income distribution, and wage growth is strongest for those at the bottom.

#PersonalFinance #Economy #Poll #Perception #SocialMedia #CableNews #FinancialAnxiety #ConsumerBehavior #WealthGains #WageGrowth

https://www.cnn.com/2024/04/07/economy/us-economy-personal-finance/index.html


Biden’s manufacturing industry is expanding, but that could be bad for inflation
==========

The US manufacturing industry expanded in March for the first time in 16 months, according to the Institute for Supply Management. However, the resurgence in the industry could complicate the Federal Reserve's ongoing inflation fight. President Joe Biden has signed major spending packages allowing manufacturers to spend on new factories. Some economists say this could delay the first interest rate cut or result in fewer cuts this year. Several Fed officials have said that persistent economic strength allows the central bank to remain patient and hold rates steady. The stock market reacted negatively to the manufacturing data, with the Dow falling more than 500 points. The economy picking up further strength would spook Wall Street because of what it means for interest rates. Some manufacturers are optimistic about the future and expect better business in the second and third quarters. Amazon is removing its cashier-less technology from its US Amazon Fresh grocery stores and replacing it with Dash Cart. Customers have not embraced cashier-less technology, especially in grocery stores. Amazon will continue to use the technology in Amazon Go stores and smaller format Fresh stores in the UK.

#ManufacturingIndustry #Inflation #FederalReserve #InterestRates #EconomicStrength #StockMarket #Amazon #CashierlessTechnology #GroceryStores

https://www.cnn.com/2024/04/07/business/stocks-week-ahead-manufacturing-industry-expanding-rate-cuts/index.html


Live updates: March jobs report expected to show slower growth
==========

The March jobs report is expected to show slower growth in the US economy, with economists predicting the addition of 200,000 jobs and a decrease in the unemployment rate to 3.8%. The stock market is tracking towards its worst week in a year, with the Dow down about 3% for the week and the S&P 500 and Nasdaq Composite down about 2%. Rising tensions in the Middle East and hawkish statements from Federal Reserve officials have contributed to the market downturn. Earnings season is approaching, with investors hoping for strong corporate earnings to boost the stock rally. Futures were slightly higher ahead of the jobs report, with the Dow futures up by about 0.2%, the S&P 500 mostly flat, and Nasdaq futures up by 0.2%. The latest jobs report will be closely watched by Federal Reserve officials, who will pay attention to wage growth as an indicator of overall price inflation. Layoff activity has remained steady, with job cuts announced by US-based firms increasing by 7% compared to last year. Federal Reserve Chair Jerome Powell expects the labor market to continue to stay strong, but anticipates a decrease in job openings and less pressure on employers to raise wages. In February, there were 8.8 million job openings, slightly higher than the previous month, but down from the record high of 12.2 million in March 2022. Layoffs also increased in February, while the number of hires rose slightly.

#MarchJobsReport #UsEconomy #StockMarket #MiddleEastTensions #EarningsSeason #FederalReserve #WageGrowth #LayoffActivity #JobOpenings

https://www.cnn.com/business/live-news/march-jobs-report-04-05-24/index.html


Why is there nostalgia for the Trump economy in the battleground states?
==========

Swing state voters have a dimmer view of the US economy compared to the economic data. Only one-quarter of registered voters in key states believe the economy has improved in the past two years. However, about half of these voters think their own economic situation is fine. The disconnect between personal finances and broader economic sentiments is not new. Partisanship can play a role in people's views of the economy. While people may say their financial situation is fine, there are indications that they also feel unable to keep up. Biden's task will be to convince voters that their personal and state situation is reflected in the country as a whole. Trump is seen as the candidate best able to handle key economic issues by half or more of registered voters in swing states. Biden's supporters believe the public will come around as the election nears. Trump's favorability rating has improved over time, while Biden's approval rating is lower. Biden is neck-and-neck with Trump on protecting democracy.

#TrumpEconomy #BattlegroundStates #UsEconomy #Inflation #PersonalFinances #Partisanship #2024Elections

https://www.cnn.com/2024/04/03/politics/economy-trump-voters-what-matters/index.html


Start your week smart: Pope at Easter Mass, bridge recovery, AT&T data leak, no Ukrainian election, Indianapolis shooting
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Pope Francis called for a ceasefire between Israel and Hamas in his traditional Easter message. Crews are working to remove the first portion of Baltimore bridge wreckage. AT&T launched an investigation into a data leak affecting 73 million customers. There is no election in Ukraine due to the ongoing conflict with Russia. At least seven children were wounded in a shooting in downtown Indianapolis. The US economy has seen 38 consecutive months of job growth. Google announced its Mentalplex Technology on this day 24 years ago. The employment report for March will be released at the end of the week.

#PopeFrancis #EasterMass #Israel #Hamas #BaltimoreBridge #At&t #DataLeak #Ukraine #RussianForces #IndianapolisShooting #UsEconomy #JobGrowth #Google #MentalplexTechnology #EmploymentReport

https://www.cnn.com/2024/03/31/us/5-things-march-31-trnd/index.html


Chair Powell says the Fed isn’t more tolerant of higher inflation. Some economists disagree
==========

US inflation remains above the 2% target set by the Federal Reserve. Some economists interpret the Fed's recent economic projections as a sign of increased tolerance for higher inflation, but Chair Powell denies this. Powell emphasizes the importance of getting inflation under control and states that the Fed is committed to bringing inflation down to 2% over time. Economist Mohamed El-Erian criticizes the Fed's dovish policy stance. The Fed's perception of inflation is that there is room for non-inflationary growth and that inflation will continue to move lower. Factors contributing to noninflationary growth include normalized supply-chain conditions, productivity growth, and a rebound in immigration and the labor supply. Home Depot is acquiring SRS Distribution for $18.3 billion to target professional contractors and builders. Home Depot and Lowe's are both trying to win more professional customers. Various economic data and earnings reports are scheduled for release. The US Labor Department will release data on job openings, hires, quits, layoffs, and the job market. The US Commerce Department will release data on new orders for manufactured goods and trade flow. The European Union's statistics agency will release inflation figures. ADP will release its employment report. S&P Global and the Institute for Supply Management will release surveys on economic activity in the US manufacturing and services sectors. Fed Chair Jerome Powell will participate in a forum at Stanford University.

#UsInflation #FederalReserve #EconomicProjections #InterestRates #InflationData #JeromePowell #Economists #MohamedElerian #SupplysideStory #NoninflationaryGrowth #HomeDepot #SrsDistribution #ProfessionalContractors #Lowe's #EconomicData #EarningsReports #UsLaborDepartment #UsCommerceDepartment #EuropeanUnion #Adp #S&pGlobal #InstituteForSupplyManagement #StanfordUniversity

https://www.cnn.com/2024/03/31/business/stocks-week-ahead-powell-inflation?cid=external-feeds_iluminar_yahoo


2 bodies found in truck at site of Baltimore bridge collapse as investigators pause search for workers, police say
==========

Two bodies were found in a red pickup truck in the Patapsco River at the site of the collapsed Francis Scott Key Bridge in Baltimore. The search for four other workers presumed dead has been paused due to unsafe conditions for divers. The National Transportation Safety Board is investigating the incident and has obtained the ship's data recorder to develop a timeline of events. The Coast Guard has confirmed that there is no hazmat threat to the public, and the ship remains stable despite losing power before the crash. The collapse of the bridge and closure of the port will have major economic repercussions. The Baltimore port is the largest in the US for autos and light trucks. The victims were construction workers on the night shift, and their bodies have been recovered from the waters. The ship's pilot did everything possible to prevent the crash, but the size of the vessel and its proximity to the bridge made it unavoidable. Questions have been raised about previous incidents involving the ship and its management company. The Synergy Marine Group, which manages the ship, is focused on the Baltimore incident and declined to comment on previous incidents. The port's closure will have a significant impact on the country's economy, and efforts are underway to reopen the port and rebuild the bridge.

#BridgeCollapse #Baltimore #Investigation #PortClosure

https://www.cnn.com/2024/03/26/us/francis-scott-key-bridge-collapse-wednesday/index.html


Why Costco’s hot dog is still $1.50 when everything has gotten so expensive
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Costco's hot dog combo meal, priced at $1.50, has remained the same since 1985 despite decades-high inflation. The strategic decision to keep the price low is a loss-leader tactic to draw in and retain customers. Costco offsets the losses from selling hot dogs by raising prices on other goods. The company's unique business model, relying on membership fees and selling items at cost or less, allows it to maintain low prices. Costco's hot dog offering was born in 1983 and has defied inflation by finding ways to cut costs while maintaining quality. Last year, Costco sold over 130 million hot dog-soda combos globally, worth around $195 million.

#Costco #HotDog #FoodCourt #PricingStrategy #Inflation #Lossleader #CustomerLoyalty

https://www.cnn.com/2024/03/27/economy/costco-hot-dog-inflation/index.html


Live updates: Baltimore Key Bridge collapse news and rescue efforts
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Six people, believed to be part of a road construction crew, are missing after Baltimore's Francis Scott Key Bridge collapsed this morning. The collapse occurred after a 984-foot cargo ship hit the bridge's pillar. Two of the missing workers are from Guatemala. The ship's crew issued a 'mayday' call before the collision, allowing authorities to stop traffic. The US Coast Guard is examining damaged containers on the ship, some of which hold potentially hazardous materials. The bridge collapse has halted the flow of ships in and out of Baltimore, impacting the local economy and supply chains along the US East Coast. Dive teams from various state and local agencies were involved in the rescue operations, which have now transitioned to a recovery phase. The National Transportation Safety Board is investigating the cause of the crash. Rebuilding the bridge is expected to be a long and expensive process, with President Joe Biden stating that the federal government will bear the full cost. The Francis Scott Key Bridge, which opened in 1977, was the final link in the Baltimore Beltway. It cost $60.3 million to build. The port of Baltimore is the ninth largest US port for international cargo. The cargo ship involved in the collision, Dali, is operated by Singapore-based Synergy Group and was chartered by Danish shipping giant Maersk. The ship is approximately 984 feet long. The search-and-rescue operation for the missing workers has been concluded, and efforts will now focus on recovery. The pilot of the ship did everything possible to slow the ship and prevent it from drifting towards the bridge after a total blackout occurred on board. Search divers will resume their efforts on Wednesday morning to provide closure to the families of the missing workers.

#Baltimore #KeyBridge #Collapse #RescueEfforts #CargoShip #Guatemala #CoastGuard

https://www.cnn.com/us/live-news/baltimore-key-bridge-collapse-03-27-24/index.html


Boeing CEO Dave Calhoun to step down in wake of ongoing safety problems
==========

Boeing CEO Dave Calhoun, along with the chairman and head of the commercial airplane unit, will be leaving the company. Larry Kellner, the chairman, will not stand for re-election and will be succeeded by former Qualcomm CEO Steve Mollenkopf. Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and will be replaced by Stephanie Pope, the current chief operating officer. Boeing has faced numerous safety problems over the past five years, including two fatal crashes of the 737 Max and recent incidents like a door plug blowing out of an Alaska Airlines 737 Max. The decision to leave was Calhoun's choice, and he plans to stay on through the end of the year to address the issues and make necessary changes. The airlines that depend on Boeing have expressed disappointment in the quality of the planes and delays in deliveries. Some airlines are considering shifting to Boeing rival Airbus, but this poses challenges due to certification and training requirements. Calhoun became chairman of Boeing in 2019 and took on the role of CEO in 2020, facing the grounding of the 737 Max and the impact of the COVID-19 pandemic. Shares of Boeing rose 4% in premarket trading on the news.

#Boeing #DaveCalhoun #SafetyProblems #Airlines #Leadership

https://www.cnn.com/2024/03/25/business/boeing-ceo-calhoun-leaving/index.html


China coast guard water-cannons Philippine ship days after US backs Manila in disputed sea
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China's coast guard used water cannon against Philippine boats in the South China Sea. The skirmish comes just days after US Secretary of State Antony Blinken reiterated Washington's commitment to defending Philippine access to the waterway. Video showed a Philippine civilian vessel taking heavy damage from the water cannon. The Philippine Coast Guard vessel was impeded and encircled by a Chinese coast guard ship and two Chinese maritime militia vessels. Recent clashes have occurred when the Philippines attempts to resupply forces on the Second Thomas Shoal. China's coast guard said it had taken control measures against the Philippine ships for illegally entering the waters adjacent to Ren'ai Reef.

#China #Philippines #SouthChinaSea #MaritimeDispute #Us #AntonyBlinken

https://www.cnn.com/2024/03/23/asia/china-coast-guard-water-cannon-philippine-south-china-sea-intl-hnk/index.html


Top US economist reveals what keeps him up at night about the economy
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Jan Hatzius, Goldman Sach's Chief Economist, predicts a likelihood of a recession in 2024.

https://www.cnn.com/videos/business/2024/03/15/recession-chance-soft-landing-jan-hatzius-jg-orig.cnn


Former Treasury Secretary Steven Mnuchin is interested in buying TikTok
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Former Treasury Secretary Steven Mnuchin has expressed interest in buying TikTok. This comes after the House passed a measure to ban the Chinese-owned social media giant or force a sale to a US-operated owner. Mnuchin plans to assemble a team of investors to make a bid for TikTok. He believes that TikTok is a valuable business despite being unprofitable. Mnuchin would give existing US investors the option to roll over their stakes in TikTok, but no entity would have more than 10% control. However, it is unlikely that the Chinese government would allow TikTok to be sold to a US company. ByteDance, the parent company of TikTok, may never be allowed to be sold to any company outside of China. Mnuchin is looking for a solution where the Chinese government will allow TikTok to be sold without a technology transfer. The TikTok bill passed by the House is now heading to the Senate, where it faces challenges in getting approved. President Joe Biden has expressed support for the bill. It is uncertain if the TikTok legislation will become law, but if it does, a sale of the company may be forced. Tech giants like Microsoft or Oracle are more likely buyers than financial players like Mnuchin.

#StevenMnuchin #Tiktok #SocialMedia #Acquisition

https://www.cnn.com/2024/03/14/business/steven-mnuchin-tiktok/index.html


Live updates: The latest on the 2024 campaign
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Former President Donald Trump held a campaign rally in Georgia, inviting disillusioned Democrats to join his movement. President Joe Biden criticized Trump's State of the Union speech as partisan and angry. Trump criticized Biden for misstating the name of a slain nursing student and for his remarks on immigration. Biden's rally in Atlanta was interrupted by a protester calling for a ceasefire in Gaza. Laken Riley's parents, whose daughter was killed by an alleged illegal immigrant, met with Trump backstage. A super PAC supporting Robert F. Kennedy Jr.'s presidential bid has gathered enough signatures to qualify him for the Michigan and South Carolina ballots. Polls show Trump with a higher percentage of the vote than Biden, and Trump is more trusted on the economy and immigration.

#2024Campaign #DonaldTrump #JoeBiden #Rally #StateOfTheUnion #Immigration #LakenRiley #Protest #RobertF.KennedyJr. #Polls

https://www.cnn.com/politics/live-news/election-campaign-news-03-09-24/index.html


Trump's team hopes for a definitive win tonight
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Former President Donald Trump's team hopes for a definitive win on Super Tuesday to secure enough delegates for him to become the presumptive Republican nominee as early as next Tuesday, March 12. They also hope that a win will force Nikki Haley, Trump's lone GOP rival, to drop out of the race. Trump's campaign is shifting its focus to a general election rematch with President Joe Biden. Trump has complained privately about Haley remaining in the race, arguing that she is preventing the Republican Party from fully supporting him. Trump's team is looking at key data points from Super Tuesday, including suburban voter preferences and Republican turnout, to shape their campaign strategy. Trump already has the support of the majority of House and Senate GOP members. California's economy, with its high unemployment rate, is a significant concern for voters. President Biden's campaign has raised over $42 million in grassroots donations in February, demonstrating enthusiasm for his reelection. North Carolina's economy is showing progress, with job openings approaching pre-pandemic levels. Texas experienced significant economic and employment growth in 2023, attracting people and businesses. Vermont hasn't supported a GOP candidate in the general election since 1988. A mix-up in Texas' most populous county raised concerns about voting procedures. North Carolina has 74 Republican delegates at stake in the primary election.

#SuperTuesday #DonaldTrump #NikkiHaley #JoeBiden #RepublicanParty #DelegateThreshold #GeneralElection #CampaignStrategy #GrassrootsFundraising #Economy #VotingProcedures #Demographics

https://www.cnn.com/politics/live-news/super-tuesday-primary-03-05-24/index.html


How to watch the 10 Oscar movies nominated for best picture
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The article provides a guide on how to watch the 10 movies nominated for Best Picture at the Oscars. The movies include 'American Fiction', 'Anatomy of a Fall', 'Barbie', 'The Holdovers', 'Killers of the Flower Moon', 'Maestro', 'Oppenheimer', 'Past Lives', 'Poor Things', and 'The Zone of Interest'. The article gives a brief description of each movie and mentions where they can be streamed or rented. It also highlights notable performances and directors. The movies cover various genres and themes, including drama, crime, romance, and historical events. The article emphasizes that time is running out to watch these films before the Oscars air on Sunday.

https://www.cnn.com/2024/03/04/entertainment/how-to-watch-oscar-best-picture/index.html


The funeral of Alexey Navalny, Russian opposition figure
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The funeral of Russian opposition figure Alexey Navalny is underway in Moscow amid tight security and fears of arrests. Navalny died on February 16 after Russia's prison service said he "felt unwell after a walk." His team and family have blamed Russian President Vladimir Putin for his death. His widow, Yulia Navalnaya, expressed concern about possible arrests of funeral mourners. More than 400 people were arrested at makeshift memorials across Russia after Navalny's death. Foreign diplomats, including the French and US ambassadors to Russia, have arrived to pay their respects. The live signal of the CNN team covering the funeral appears to be blocked. The Kremlin has warned against unauthorized memorials for Navalny. Mourners outside the church expressed their admiration for Navalny and their disregard for potential risks. Kremlin spokesperson Dmitry Peskov has nothing to say to Navalny's family on the day of his funeral.

#AlexeyNavalny #Funeral #Moscow #Russia #VladimirPutin

https://www.cnn.com/europe/live-news/navalny-funeral-moscow-russia-03-01-24/index.html


Some economists lose hope for a U.S. ‘soft landing’
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Citi's chief U.S. economist warns of a major slowdown in economic growth in the U.S.

https://www.cnn.com/videos/business/2024/02/29/exp-u-s-economy-citi-intv-fst-022803pseg1-cnni-business.cnn


South Carolina’s population and economy are booming
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South Carolina's economy rebounded quickly from the pandemic, with unemployment rates dropping faster than the national average. The state's economic growth is driven by advanced manufacturing and retail and distribution sectors, which have an estimated economic impact of $48.3 billion and employ over 150,000 people. However, the state is facing challenges such as aging demographics, worker shortages, and high interest rates. South Carolina is experiencing strong population growth, attracting both retirees and younger people seeking work opportunities and a lower cost of living. The state's strategic approach includes investing in technical colleges and workforce development programs to address the shortage of workers. South Carolina's geographic location makes it an ideal hub for companies to import goods and distribute them throughout the Southeast. The state's population growth is fueling demand in industries like healthcare, but there is a shortage of staff in a tight labor market. Other industries are also struggling to hire and have had to raise wages. While South Carolina's economy has shown resilience, residents have a dour view of the state and national economy, with concerns about inflation and personal finances. South Carolina residents have more faith in former President Donald Trump improving their financial situations than in former Governor Nikki Haley.

#SouthCarolina #Economy #PopulationGrowth #Unemployment #WorkerShortages #AdvancedManufacturing #RetailAndDistribution #AgingDemographics #InterestRates #GeographicLocation #Healthcare #Inflation #PersonalFinances #DonaldTrump #NikkiHaley

https://www.cnn.com/2024/02/24/business/economy-south-carolina-population?cid=external-feeds_iluminar_yahoo


Russia-Ukraine war rages as Navalny's death spurs global outcry
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US President Joe Biden announces sanctions on President Vladimir Putin in response to Alexey Navalny's death. US Treasury to impose new sanctions on over 500 targets. Navalny's mother threatened into agreeing to a secret funeral. Drone attacks in Ukraine kill 3 and wound at least 8. Kherson, Ukraine, faces ongoing shelling from Russian forces. Europe pressured to increase aid to Ukraine. Biden administration announces largest single tranche of sanctions since the start of Russia's invasion of Ukraine. Russian authorities set conditions to release Navalny's body to family. Russian ambassador to the US says Biden's comment about Putin can't be resolved with a simple apology. Biden meets with Navalny's wife and daughter, expresses admiration for Navalny's courage. White House calls on Russia to give Navalny's remains to his mother.

#Russia #Ukraine #War #Navalny #Sanctions #DroneAttacks

https://www.cnn.com/europe/live-news/russia-ukraine-war-news-02-23-24/index.html


Japan and the UK are in recessions. Is the US next?
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Japan and the UK have entered technical recessions, but the US is unlikely to follow suit. Japan's recession is attributed to its shrinking population, which limits growth. In the UK, a drop in consumer spending contributed to the recession. However, the US has experienced higher-than-expected GDP growth in the past two quarters, thanks to robust consumer spending and pandemic stimulus money. While US retail sales for January were lower than expected, the labor market remains strong. The US economy is not officially considered to be in a recession until determined by the Business Cycle Dating Committee. The risk of a recession has been elevated since the US Federal Reserve began tightening, but there is little basis for thinking the economy is in a recession now. Unforeseen economic shocks could still arise. The US is expected to have a slow-growth year, and the possibility of a recession could arise if the Fed does not cut interest rates as expected.

#Recession #Economy #Gdp #ConsumerSpending #UsFederalReserve

https://www.cnn.com/2024/02/16/economy/japan-uk-us-recession-explainer/index.html


Despite a recession, Japan’s stocks are partying like it’s 1989
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Japan's stock market defied gloomy economic data to rally on Friday, lifting broader Asian shares. Japan's benchmark Nikkei 225 index closed above 38,000 points for the second day in a row, just a whisker off its historic peak reached in December 1989. The stock market gains came despite official data showing that Japan slipped into recession in 2023. The rally in Japanese stocks has had nothing to do with economics and weak economic indicators could pave the way for relatively looser monetary policy, providing a bullish backdrop for Asian markets. Other Asia-Pacific markets also rose following gains in New York. The S&P 500 closed at a record high of 5,029.73 on Thursday. Hong Kong's Hang Seng Index was up 2.5% on Friday, while Korea's Kospi rose 1.3%. Markets in mainland China remained closed for the Lunar New Year holiday and will resume trading on February 19.

#Japan #AsianStocks #Recession #Nikkei225 #EconomicIndicators #MonetaryPolicy #AsianMarkets #S&p500 #HangSengIndex #Kospi #LunarNewYear

https://www.cnn.com/2024/02/16/investing/japan-recession-asian-stock-gains-intl-hnk/index.html


Shooter at Houston megachurch had lengthy criminal history including weapons charges, police say
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A woman identified as Genesse Ivonne Moreno entered Joel Osteen's Lakewood Church in Houston with a long gun and her 7-year-old son. She opened fire, injuring a child and another man before being shot and killed by off-duty officers. The injured child remains in critical condition. The shooter had a history of criminal charges and mental health problems, including multiple aliases and a documented mental health history. She used a legally purchased AR-15 and had a .22 caliber weapon in her bag. Police are investigating a possible family dispute and found antisemitic writings connected to the shooter. She also threatened a bomb, but no explosives were found. Authorities searched her home and found yellow rope and substances consistent with the manufacture of explosive devices. Texas Governor Greg Abbott offered support and resources to the community. Witnesses described the sound of shots as erratic and people screaming. Joel Osteen expressed devastation and gratitude that no one in his church was killed.

#Shooting #Houston #Megachurch #JoelOsteen #CriminalHistory #WeaponsCharges

https://www.cnn.com/2024/02/12/us/joel-osteen-lakewood-church-shooting-monday/index.html


One Thing: Is the Economy Really Booming? Gen Z Isn't So Sure.
==========

Despite positive economic indicators, many Americans, especially Gen Z, are not optimistic about the US economy. Gen Z is turning to TikTok for financial advice and embracing the concept of 'loud budgeting.' While consumer sentiment has improved, there is still a sense of unease. Factors such as high mortgage rates, high rents, and expensive groceries contribute to the affordability crisis. Millennials and Gen Z, who have not experienced high inflation before, find it particularly challenging. The Biden administration is concerned about the impact of negative economic sentiment on the upcoming presidential election.

#UsEconomy #GenZ #AffordabilityCrisis #Tiktok #ConsumerSentiment #Inflation #FinancialAdvice #LoudBudgeting #MortgageRates #Rents #Groceries #BidenAdministration

https://www.cnn.com/audio/podcasts/5-things/episodes/83c659c6-a997-11ee-82c2-6b657a2a0019


Europe’s growth engine is sputtering. Can Germany’s economy be revived?
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Germany's economy, the world's fourth-largest, has been facing challenges including strikes, labor shortages, high energy prices, and weak demand for German goods. The International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, with a projected increase of just 0.5%. The country's problems are both external, such as slowing economic growth in China and protectionist measures in the United States, and internal, including tensions within the governing coalition and the rise of right-wing extremism. Germany's business model, which relied on interdependence and globalization, is also facing challenges. However, Germany still has strengths in industries such as manufacturing and engineering, and there are opportunities for transformation and growth in sectors like battery cell manufacturing and climate-friendly technologies.

#Germany #Economy #Growth #Challenges #Revival

https://www.cnn.com/2024/02/10/economy/germany-economy-decline-analysis/index.html


February 7, 2024 Israel-Hamas war
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Prime Minister Benjamin Netanyahu dismissed Hamas' proposals for a ceasefire and hostage deal in Gaza. US Secretary of State Antony Blinken said Hamas' counterproposal leaves room for a potential agreement. Blinken raised concerns about a potential expansion of Israeli military operations into Rafah. A US drone strike in Baghdad killed a Kataib Hezbollah commander responsible for attacks on American forces. Iraq issued a warning to the US in response to the strike. The US military strike in Iraq does not mark the end of retaliatory actions authorized by President Joe Biden. US Central Command said its drone killed a Kataib Hezbollah commander responsible for attacks on US forces. Former Israeli hostage Adina Moshe criticized Netanyahu's plan to eliminate Hamas, saying there won't be any hostages to release.

#Israel #Hamas #Ceasefire #HostageDeal #BenjaminNetanyahu #AntonyBlinken #Rafah #UsDroneStrike #KataibHezbollah #Iraq #AdinaMoshe

https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-02-07-24/index.html


How are you feeling about the economy? Share your story
==========

Even though the economy is growing and the job market remains strong, many Americans still think the economy is weak. Prices are no longer soaring and inflation is down. CNN is inviting readers to share their views about the economy and personal finances for a future story.

#Economy #JobMarket #Inflation #PublicSentiment #PersonalFinances

https://www.cnn.com/2024/02/06/politics/us-economy-inflation-markets-sentiment-callout/index.html


Trump does not have presidential immunity in January 6 case, federal appeals court rules
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Donald Trump is not immune from prosecution for alleged crimes he committed during his presidency to reverse the 2020 election results, a federal appeals court said Tuesday. The ruling is a major blow to Trump’s key defense thus far in the federal election subversion case brought against him by special counsel Jack Smith. The ruling from the three-judge panel was unanimous. Trump faces four counts from Smith’s election subversion charges, including conspiring to defraud the United States and to obstruct an official proceeding. Trump has argued that he was working to “ensure election integrity” as part of his official capacity as president, and therefore he is immune from criminal prosecution for trying to overturn the election results. The immunity question is ultimately expected to end up before the Supreme Court.

#DonaldTrump #PresidentialImmunity #FederalAppealsCourt #January6Case #ElectionSubversion #CriminalProsecution #SupremeCourt

https://www.cnn.com/2024/02/06/politics/trump-immunity-court-of-appeals/index.html


Angry Chinese take to US Embassy’s social media account to vent about plunging stock market
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Tens of thousands of people in China are venting their anger and frustration with the plunging stock market on the social media account of the US Embassy in Beijing. The Shanghai Composite Index fell more than 3%, hitting its lowest level in five years. The Shenzhen Component Index also tumbled 2.3%. Chinese investors complained about the stock market rout and the challenging economy in comments on the US Embassy's Weibo account. Chinese regulators pledged to prevent abnormal fluctuations in the stock market, but did not offer any details. About $6 trillion in market value has been wiped out from the Chinese and Hong Kong stock markets over the past three years.

#China #StockMarket #UsEmbassy #SocialMedia #Weibo

https://www.cnn.com/2024/02/05/investing/china-stock-market-plunge-us-embassy-weibo-hnk-intl/index.html


Grammy winners 2024: See the full list
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The 66th Grammy Awards winners are being presented on Sunday, Feb. 4. SZA leads with nine nominations and wins for pop duo performance with Phoebe Bridgers. Taylor Swift could make history by winning four album of the year Grammys. Mariah Carey presented the first award to Miley Cyrus for best pop solo performance. The full list of winners in all 94 Grammy categories can be found on the CNN website.

#GrammyAwards #Music #Winners #Nominations

https://www.cnn.com/2024/02/04/entertainment/grammys-winners-list-nominees/index.html


Ex-Trump official admits his prediction about Biden economy was wrong
==========

Former Trump adviser Larry Kudlow admits that he was wrong about a recession under President Joe Biden after predicting one and slamming him numerous times.

https://www.cnn.com/videos/politics/2024/02/03/ex-trump-economic-adviser-larry-kudlow-biden-recession-nn-vpx.cnn


U.S. job growth exceeds expectations
==========

U.S. job growth exceeds expectations, according to Jared Bernstein, chair of the U.S. Council of Economic Advisers. Consumer sentiment is catching up to job growth and cooling inflation.

https://www.cnn.com/videos/business/2024/02/03/exp-u-s-jobs-report-economy-poll-bernstein-intv-020203pseg2-cnni-business.cnn


Mark Zuckerberg made $29 billion this morning after Meta stock makes record surge
==========

Mark Zuckerberg's net worth increased by more than $29 billion as Meta's stock price surged over 21% after the company announced its first-ever cash dividend program. Zuckerberg owns about 350 million shares of Meta and will gain approximately $700 million per year from the company's dividend payouts. However, this surge comes after Zuckerberg testified before the Senate Judiciary Committee about the risks of social media to young people. He apologized for the harm caused and pledged industry-wide efforts to prevent such suffering.

#MarkZuckerberg #Meta #StockMarket #Dividends #SenateJudiciaryCommittee #SocialMedia

https://www.cnn.com/2024/02/02/business/meta-stock-surge-mark-zuckerberg/index.html


The US economy added 353,000 jobs in January, starting off 2024 with a bang
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The US economy added 353,000 jobs in January, according to Bureau of Labor Statistics data. The unemployment rate remained at 3.7%. It's the 24th consecutive month that the jobless rate has been under 4%. Most industries added jobs, with health care and social assistance posting the largest gains. January's job gains exceeded economists' expectations. Wage gains also surged, with a 0.6% increase for the month and a 4.5% increase year-over-year. The strong job growth and wage gains may impact the Federal Reserve's plans for rate cuts.

#UsEconomy #JobGrowth #UnemploymentRate #WageGains #FederalReserve

https://www.cnn.com/2024/02/02/economy/january-jobs-report-final/index.html