Los Angeles Times

latimes.com

Public Key

npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50x

NIP-57 Address

here@getalby.com

Profile Code

nprofile1qqstw4cn28c86t0jk8lsrq2qg0h3f5hu79phzvs2nzqlerh5wl2hmzszg6vkv

Author Public Key

npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50x

Show more details

Last Notes

2024-08-16 22:19:50

- reply

#note1uvx…zsj0

2024-08-16 22:19:38

Wall Street closes its best week of the year with more gains
==========
Wall Street closed its best week of the year with more gains, as the S&P 500 rose 0.2% for a seventh straight gain and pulled back within 2% of its all-time high set last month. The Dow Jones industrial average gained 0.2%, and the Nasdaq composite added 0.2%. Treasury yields eased in the bond market after a couple of mixed reports on the U.S. economy. The market's focus will swing next week to Jackson Hole, Wyo., where Federal Reserve Chair Jerome H. Powell will give a speech late in the week. H&R Block leaped 12.1% for one of the market's largest gains after it reported a bigger-than-expected profit for the latest quarter. In the bond market, the yield on the 10-year Treasury fell to 3.88% from 3.92% late Thursday. The two-year yield, which more closely tracks expectations for Fed action, fell to 4.05% from 4.10% late Thursday.
#WallStreet #StockMarket #S&p500 #DowJones #Nasdaq #TreasuryYields #UsEconomy #FederalReserve #JacksonHole #H&rBlock #BondMarket #10yearTreasury #TwoyearYield
https://www.latimes.com/business/story/2024-08-16/stock-market-today-wall-street-closes-its-best-week-of-the-year-with-some-more-gains

2024-08-01 14:01:48

- reply

#note1s7x…xccq

2024-08-01 14:01:36

How is the immigration surge affecting the economy? In a good way, data suggest
==========
Recent data analysis reveals that immigration has had a positive impact on the U.S. and California economies. Immigrants have filled vacant jobs, contributed to job creation, and generated tax revenue. In California, immigrants make up a significant portion of the labor market, particularly in industries such as agriculture, construction, healthcare, and hospitality. The influx of immigrants has helped keep job creation strong in the state. Despite political rhetoric, research shows that immigration does not have a significant negative effect on wages and employment for native-born U.S. workers. In fact, studies indicate that immigration has benefited non-college-educated native-born workers in terms of wages. Additionally, more immigrants contributing to payroll taxes could alleviate strain on Social Security and Medicare systems. Immigration is seen as vital to keeping the economy healthy, especially in California where there are more jobs being added than there are U.S. citizens reaching working age. Experts emphasize the importance of embracing immigration for long-term economic growth.
#Immigration #Economy #Jobs #California
https://www.latimes.com/california/newsletter/2024-08-01/how-is-the-immigration-surge-affecting-the-economy-in-a-good-way-data-suggest-essential-california

2024-07-25 14:32:43

U.S. economic growth increased last quarter to a healthy 2.8% annual rate
==========
The U.S. economy grew at a strong 2.8% annual pace in the April-June quarter, exceeding expectations. Consumer spending rose at a 2.3% rate, while business investment increased, led by a 11.6% rise in equipment investment. Inflation eased but remained above the Federal Reserve's 2% target. The GDP report suggests a potential 'soft landing' for the economy, with the Fed likely to cut interest rates soon. The U.S. economy has cooled due to high borrowing rates, but the latest figures indicate a positive outlook.
#UsEconomy #EconomicGrowth #Gdp #Inflation #InterestRates #ConsumerSpending #BusinessInvestment #FederalReserve
https://www.latimes.com/business/story/2024-07-25/us-economic-growth-increased-last-quarter-to-a-healthy-2-8-annual-rate

2024-07-23 19:04:33

- reply

#note1ral…zpws

2024-07-23 19:04:22

'Two American Families' is the saga of working class struggle and survival
==========
The documentary 'Two American Families: 1991-2024' follows two families, the Neumanns and the Stanleys, over 34 years as they struggle to survive in a changing American economy. The film highlights the challenges faced by the working class, including the loss of union manufacturing jobs, racial discrimination, and the impact of economic and social systems that keep the poor poor and make the rich richer. The documentary is a critique of the current system and explores the themes of stagnation, decay, and the resilience of the families. It also challenges the notion that hard work alone guarantees success, emphasizing the role of luck, connections, and socioeconomic factors. Directed by Tom Casciato and Kathleen Hughes, with narration and interviews by Bill Moyers, the film is reminiscent of the 'Up' series by Michael Apted. 'Two American Families' is a powerful portrayal of the struggles and realities faced by working-class families in America.
#Documentary #WorkingClass #AmericanEconomy #Frontline #Pbs
https://www.latimes.com/entertainment-arts/tv/story/2024-07-23/two-american-families-review-frontline-pbs

2024-07-22 22:17:57

- reply

#note1ywl…726j

2024-07-22 22:17:46

Wall Street climbs as Big Tech recovers following recent drop
==========
U.S. stocks closed higher on Wall Street, with the S&P 500 rising 1.1% and breaking a three-day losing streak. The gains were led by Big Tech stocks, including Nvidia, Alphabet, and Tesla, which regained some of their losses from the previous week. Treasury yields mostly climbed in the bond market after President Biden announced he won't run for reelection. The 10-year Treasury yield rose to 4.26%. Reports on corporate profits and the U.S. economy's growth are expected to continue grabbing the market's attention. Truist Financial and Verizon Communications reported their latest quarterly results, with Truist Financial reporting stronger-than-expected net interest income and Verizon reporting profit that matched expectations but slightly lower revenue. Dozens of other big U.S. companies, including Coca-Cola, Ford, and American Airlines, will report their latest quarterly results this week. In stock markets abroad, indexes rose across much of Europe, while Hong Kong's Hang Seng rose 1.3% and stocks fell 0.6% in Shanghai after China's central bank unexpectedly lowered a benchmark interest rate for loans.
#WallStreet #BigTech #S&p500 #Nvidia #Alphabet #Tesla #TreasuryYields #CorporateProfits #TruistFinancial #VerizonCommunications #China
https://www.latimes.com/business/story/2024-07-22/stock-market-today-wall-street-climbs-as-big-tech-recovers-following-worst-week-in-months

2024-07-19 21:13:29

- reply

#note152h…gve7

2024-07-19 21:13:18

Four false and misleading claims made by Donald Trump at his Republican acceptance speech
==========
Former President Trump made several false and misleading claims during his Republican acceptance speech. He falsely claimed that there has been a spike in violent crime due to immigration, but FBI statistics show that violent crime is actually on the decline. Trump also inaccurately stated that the U.S. had the greatest economy in history, when in fact the pandemic triggered a massive recession and economic growth under Trump was lower than during Bill Clinton's presidency. Another false claim was that the U.S. left behind $85 billion worth of military equipment in Afghanistan, but reports show that the actual amount spent on equipment and transportation was much lower. Lastly, Trump's claim that President Biden has not addressed the issue of Americans held hostage by Hamas is untrue, as Biden has spoken about the hostages multiple times and expressed his commitment to bringing them home.
#DonaldTrump #RepublicanAcceptanceSpeech #FalseClaims #MisleadingClaims #Immigration #UsEconomy #Afghanistan #Hamas
https://www.latimes.com/politics/story/2024-07-19/four-false-and-misleading-claims-made-by-donald-trump-at-his-republican-acceptance-speech

2024-07-16 00:38:22

- reply

#note1kjz…64da

2024-07-16 00:38:10

Column: Aileen Cannon's ruling isn't just legally flawed. It has nothing to do with the law
==========
Judge Aileen Cannon's ruling on the classified documents case against Donald Trump is legally flawed and has nothing to do with the law. The ruling throws out the case on the premise that special counsel Jack Smith was not properly appointed, which is a dubious argument. Cannon's dismissal of the case is seen as the first court decision of Project 2025, where loyalty to Trump takes precedence over the rule of law. Cannon's dismissal does not present a constitutional analysis and revolves around a question of whether statutes authorize the appointment of a special counsel. The dismissal is influenced by Justice Clarence Thomas' concurrence in a recent Supreme Court ruling. Cannon contradicts the Supreme Court's unanimous finding in U.S. vs. Nixon. The dismissal may be reversed by the 11th Circuit U.S. Court of Appeals or result in a Justice Department motion to recuse Cannon. Federal prosecutors may try to file the case again in a different district. Cannon's dismissal benefits Trump politically and may lead to her elevation to a higher court if he wins the election. Cannon's dismissal is seen as a violation of her oath to do justice without regard to persons.
#AileenCannon #DonaldTrump #ClassifiedDocumentsCase #Dismissal #RuleOfLaw #Loyalty #SpecialCounsel #JackSmith #Constitution #JusticeClarenceThomas #11thCircuitUsCourtOfAppeals #JusticeDepartment #Reversal #Recusal #FederalProsecutors #Election #HigherCourt #PoliticalBenefits #Oath
https://www.latimes.com/opinion/story/2024-07-15/aileen-cannon-donald-trump-classified-records-dismissal-harry-litman

2024-07-16 00:35:11

- reply

#note1p2x…3sqx

2024-07-16 00:35:00

Biden says 'bullseye' remark was mistake, but that Trump is guilty of worse rhetoric
==========
President Biden admitted that his remark about putting Trump in the bullseye was a mistake, but he clarified that he meant the nation's focus should be on Trump and the threat to democracy he represents. Biden also pointed out that Trump has engaged in worse rhetoric, including making fun of and joking about the violent attack on Rep. Nancy Pelosi's husband. Biden defended himself by saying he was talking about focusing on Trump's actions, policies, and lies. He mentioned that he did not engage in the same rhetoric as his opponent and highlighted Trump's statements about a potential bloodbath if he loses and his willingness to forgive those involved in the Capitol attack. The interview with NBC's Lester Holt was conducted after the assassination attempt on Trump and drew political attention on the first day of the Republican National Convention. Biden has faced scrutiny about his age and competence following a poor debate performance, but he insisted that his mental acuity has been good and that he has accomplished more than any president in 3.5 years. He dismissed calls for him to drop out of the race and expressed confidence in defeating Trump in the election.
#Biden #Trump #Rhetoric #AssassinationAttempt #Focus #ThreatToDemocracy #NancyPelosi #Debate #Age #Competence #RepublicanNationalConvention #Election
https://www.latimes.com/politics/story/2024-07-15/2024-election-biden-lester-holt-interview

2024-07-14 20:01:04

- reply

#note1an4…9tgp

2024-07-14 20:00:53

Chile confronts a homelessness crisis, a first for one of South America's richest countries
==========
Chile is facing a homelessness crisis, with the rate of homelessness in the country increasing by more than 30% over the last four years. The pandemic-induced recession, housing crunch, and immigration influx have contributed to the rise in homelessness. The government has registered 21,126 homeless people in 2024, compared to 15,435 in 2020, but social workers estimate the real count to be around 40,000. The government has announced that it will include homeless people in its national census for the first time, which is expected to lead to the implementation of more effective social policies. The homelessness crisis has pushed the problem up on the agenda, with police tearing down encampments and municipal workers removing rough sleepers from public spaces. The crisis has also seen a demographic shift in the homeless population, with more women and children on the streets due to the affordable housing crunch. The pandemic lockdowns and economic hardships have exacerbated the housing crisis, with housing prices jumping 70% over the last decade. The rise in homelessness is also attributed to the increase in migrants, both registered and illegal, who have been drawn to Chile by its reputation as a successful economy. Aid groups are pressuring the government to address the crisis, as there are currently fewer than 200 homeless shelters nationwide, barely enough to accommodate 13% of the homeless population. President Gabriel Boric has vowed to build 260,000 new government-sponsored houses during his four-year term to address the issue.
#Chile #HomelessnessCrisis #HousingCrunch #ImmigrationInflux #GovernmentPolicies #DemographicShift #AffordableHousing #Migrants #AidGroups #PresidentGabrielBoric
https://www.latimes.com/world-nation/story/2024-07-14/chileans-confront-a-homelessness-crisis-a-first-for-one-of-south-americas-richest-countries

2024-07-12 23:16:42

- reply

#note1l24…s6xm

2024-07-12 23:16:31

A stalled mixed-use development turns into West Hollywood's newest lake
==========
The Melrose Triangle mixed-use development project in West Hollywood has turned into a large, swampy pool that locals have nicknamed "WeHo Lake" due to the accumulation of green-hued water, presumably colored by algae. Construction on the project is on hold, and the site has become a home for mosquitoes, ducks, and other water-loving critters. The water began to stagnate after many of the groundwater pumps installed on the property were vandalized, but repairs have been made and the water level has been reduced. The city of West Hollywood is working with the property owner to ensure that the water is drained. The development has faced roadblocks, including a lawsuit questioning the adequacy of the city's environmental review, and the former building on the site, Jones Dog & Cat Hospital, was demolished in 2018. It is unclear when construction on the project will begin.
#MixeduseDevelopment #WestHollywood #Construction #WaterAccumulation
https://www.latimes.com/california/story/2024-07-12/mixed-use-development-in-west-hollywood-becomes

2024-07-03 22:05:04

- reply

#note124q…pqqq

2024-07-03 22:04:51

Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower rates
==========
Wall Street's record-breaking rally continues as a slowing economy boosts hopes for lower interest rates. The S&P 500 rose 0.5% to set an all-time high for a second straight day. The Dow Jones Industrial Average slipped 23 points, while the Nasdaq composite added 0.9% to its record. Tesla rose 6.5% after reporting a milder drop in sales. The bond market saw Treasury yields slide following weaker-than-expected reports on the job market and U.S. services companies. The hope is that the economy softens enough to keep inflation in check without triggering a recession. The yield on the 10-year Treasury dropped to 4.35%. Traders are now betting on a nearly three-in-four chance that the Federal Reserve will cut its main interest rate as soon as September. In stock markets abroad, indexes rose across much of Europe and Asia.
#StockMarket #WallStreet #InterestRates #Economy
https://www.latimes.com/business/story/2024-07-03/stock-market-today-wall-street-hits-records-as-a-slowing-economy-boosts-hopes-for-lower-rates

2024-06-26 15:00:04

- reply

#note1pg3…fcf3

2024-06-26 14:59:52

Supreme Court dismisses Republican suit claiming Biden officials censored social media
==========
The U.S. Supreme Court dismissed a lawsuit claiming that the Biden administration was censoring conservatives by pressuring social media sites to remove dangerous misinformation. The 6-3 decision ruled that the state attorneys in Louisiana and Missouri had no standing to bring such claims. Justices Clarence Thomas, Samuel A. Alito Jr., and Neil M. Gorsuch dissented. The ruling overturned a broad court order issued by a federal judge in Louisiana and upheld by the 5th Circuit Court of Appeals. The lawsuit alleged that the Biden administration's actions violated the right to free speech and pointed to the White House, FBI, Office of the Surgeon General, and Centers for Disease Control and Prevention. The Supreme Court had previously put the Louisiana judge's order on hold. This term, the court has heard three major cases on social media and the 1st Amendment, all driven by complaints from conservatives about censorship. The other two cases involved laws in Florida and Texas that would impose fines or damages on social media platforms for removing conservative content. The case decided on Wednesday began with a complaint that social media platforms had blocked or downgraded posts on various topics, including COVID-19, election fraud, and the Hunter Biden laptop story. The lawsuit was brought to U.S. District Judge Terry Doughty, who issued an order prohibiting federal officials and agencies from encouraging the removal of protected speech from social media. The administration appealed to the 5th Circuit Court but lost. The Supreme Court's decision throws out the lawsuit and affirms that the state attorneys had no standing to bring the claims.
#SupremeCourt #RepublicanSuit #BidenAdministration #SocialMediaCensorship
https://www.latimes.com/world-nation/story/2024-06-26/supreme-court-social-media

2024-06-23 05:17:48

- reply

#note18c9…w27r

2024-06-23 05:17:37

Shohei Ohtani stays hot, crushing another homer as Dodgers split series with Angels
==========
Shohei Ohtani hit another home run in the Dodgers' 7-2 win over the Angels at Dodger Stadium. In seven games since last Sunday, Ohtani has been batting .481 with seven home runs, 12 RBIs, seven walks, and two strikeouts. The Dodgers' bottom-half hitters have improved their performance, with a batting average of .243 since May 17. The team's Nos. 6-9 hitters got six hits and five runs in the game against the Angels. The Dodgers' staff ace Tyler Glasnow had a stellar start, giving up only two runs on two hits in a seven-inning, 10-strikeout performance. The Dodgers are mindful of Glasnow's workload and decided to pull him after just 74 pitches. Ohtani's home run marked his fourth blast of at least 450 feet this week and his first against the Angels since signing with the Dodgers. The Dodgers split the two-game weekend Freeway Series with the Angels.
#ShoheiOhtani #LosAngelesDodgers #LosAngelesAngels #Baseball
https://www.latimes.com/sports/story/2024-06-22/dodgers-angels-shohei-ohtani-home-run-recap

2024-06-21 11:01:00

- reply

#note1rjd…ryt5

2024-06-21 11:00:49

Former TV financial analyst arrested for fraud after years in hiding
==========
James Arthur McDonald Jr., a former investment company CEO and TV financial analyst, was arrested in Washington state after more than two years on the run. McDonald faces federal fraud charges in Los Angeles for lying about his Harvard education and misappropriating at least $675,000 from investors. He lost between $30 million and $40 million after taking a risky short position against the U.S. economy. McDonald raised more money by selling equity in his company and disguising how the proceeds would be used. He has been considered a fugitive since November 2021 and was arrested at a residence in Port Orchard, Wash. McDonald appeared in court and remains jailed pending his transfer to Los Angeles.
#FinancialAnalyst #Fraud #Arrest #InvestmentCompany #HarvardEducation #Misappropriation #Fugitive
https://www.latimes.com/california/story/2024-06-21/former-ceo-and-t-v-financial-analyst-arrested-for-fraud-after-years-in-hiding

2024-06-18 10:58:38

- reply

#note1qyl…7xqv

2024-06-18 10:58:27

Opinion: As AI is embraced, what happens to the artists whose work was stolen to build it?
==========
OpenAI's foundational models are built atop the theft of creative professionals' work. OpenAI announced Media Manager, a tool to be released in 2025, which claims to allow creators to control how their work is used. However, it does not address the fact that OpenAI built its models using authors' and creators' works without consent or compensation. OpenAI and other generative AI companies have been asked to obtain creators' consent and refrain from using works without permission. OpenAI has faced legal action from authors and copyright owners, including a class action by visual artists and a lawsuit by music publishers. OpenAI claims it would be impossible to license all the content they need, but authors' earnings have been declining, while AI companies are valued in the billions. The CEO of the Authors Guild calls for creative professionals to demand what they are owed and determine their own futures.
#Ai #Artists #IntellectualProperty #Openai #Creators'Rights
https://www.latimes.com/opinion/story/2024-06-18/artificial-intelligence-openai-media-manager-apple

2024-06-09 21:48:11

Daily Pilot e-newspaper: Sunday, June 9, 2024
==========
The Daily Pilot's e-newspaper for Sunday, June 9, 2024 includes stories about Laguna Beach's 'Radical Origins' scoring big wins for ecotourism backers, the first married man to be ordained as a Catholic priest in Orange County, summer dance classes with the ABT Gillespie School beginning at Segerstrom, Anaheim Councilwoman Natalie Rubalcava defeating recall in a low-turnout election, the Central Cities Navigation Center supporting clients in 'journeys to stability and independence', Anaheim welcoming Juneteenth celebration after Santa Ana split, unique Father's Day dining experiences in Orange County, and more.
#LagunaBeach #Ecotourism #CatholicPriest #OrangeCounty #DanceClasses #AbtGillespieSchool #Segerstrom #Anaheim #NatalieRubalcava #RecallElection #CentralCitiesNavigationCenter #Juneteenth #Father'sDay #DiningExperiences
https://www.latimes.com/socal/daily-pilot/news/story/2024-06-09/daily-pilot-e-newspaper-sunday-june-9-2024

2024-06-07 15:19:30

U.S. employers added a robust 272,000 jobs in May, a sign of sustained economic health
==========
In May, U.S. employers added 272,000 jobs, indicating sustained economic health. The job gain suggests that the economy is still growing steadily, driven by consumer spending on travel, entertainment, and other service sectors. The unemployment rate edged up to 4% from 3.9%, ending a 27-month streak of unemployment below 4%. President Biden is likely to view this as a sign of the economy's robust health under his administration. Hourly wages also rose, which could contribute to stickier inflation. The Federal Reserve wants to see the economy cool down a bit before considering cutting their benchmark rate. Layoffs remain at historic lows, with just 1.5 million people losing jobs in April, the lowest monthly figure on record in 24 years. The job market has proven more durable than expected, but high prices remain a source of discontent for Americans.
#UsEmployers #Jobs #EconomicHealth #UnemploymentRate #ConsumerSpending #Inflation #FederalReserve #Layoffs
https://www.latimes.com/business/story/2024-06-07/us-employers-added-a-robust-272-000-jobs-in-may-in-a-sign-of-sustained-economic-health

2024-06-04 23:14:33

- reply

#note16hc…qynm

2024-06-04 23:14:22

Wall Street cleaves between winners and losers on report showing slowing economy
==========
U.S. stocks were split on a report suggesting a cooling job market, with the S&P 500 index ticking up by 0.2% and the Dow Jones industrial average rising 0.4%. The bond market saw Treasury yields slide after the report, leading to expectations of interest rate cuts later this year. The question is whether the slowdown will lead to a painful recession, which would result in layoffs and weaker profits for companies. The report also showed a drop in U.S. job openings at the end of April, signaling a return to a normal job market. Concerns about a slowing economy have affected the price of crude oil, causing oil and gas stocks to decline. Dividend-paying stocks and some Big Tech stocks performed well, benefiting from lower interest rates and rising regardless of the economy. In the bond market, the yield on the 10-year Treasury slid to 4.33%. In international markets, India's Sensex dropped 5.7% after a jump of 3.4% following the country's elections. Indexes were mixed in Asia and lower in Europe.
#WallStreet #StockMarket #Economy #JobMarket #InterestRates
https://www.latimes.com/business/story/2024-06-04/stock-market-today-wall-street-cleaves-between-winners-and-losers-on-report-showing-slowing-economy

2024-06-03 22:09:23

Wall Street drifts to mixed finish after the latest signal of a slowing economy
==========
U.S. stocks drifted to a mixed finish on June 3, 2024, after the latest signal showing the U.S. economy is slowing. The Standard & Poor’s 500 edged up by 5.89 points, or 0.1%, to 5,283.40, even though the majority of stocks within the index fell. The Dow Jones industrial average dropped 115.29 points, or 0.3%, to 38,571.03, and the Nasdaq composite rose 93.65 points, or 0.6%, to 16,828.67. Treasury yields also slid in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months. Stocks of companies tied to the strength of the economy dropped, including the oil and gas industry. Halliburton dropped 5.3%, and Exxon Mobil fell 2.4%. On the winning side were some big technology stocks, with Nvidia climbing 4.9% and GameStop soaring 21%. In the bond market, the yield on the 10-year Treasury fell to 4.39% from 4.50% late Friday. The two-year yield fell to 4.81% from 4.88%. This week has several high-profile economic reports that could send yields on additional sharp swings. In stock markets abroad, India’s Sensex jumped 3.4% after the country’s six-week-long national election came to an end with most exit polls projecting that Prime Minister Narendra Modi will extend his decade in power with a third consecutive term. Stocks in Mexico slumped 6% after Claudia Sheinbaum claimed victory in that country’s presidential election.
#WallStreet #UsEconomy #StockMarket #Standard&Poor’s500 #DowJonesIndustrialAverage #NasdaqComposite #TreasuryYields #Manufacturing #OilAndGasIndustry #TechnologyStocks #Nvidia #Gamestop #BondMarket #10yearTreasury #India #Mexico
https://www.latimes.com/business/story/2024-06-03/stock-market-today-wall-street-drifts-to-mixed-finish-after-the-latest-signal-of-a-slowing-economy

2024-05-30 22:06:01

Most of Wall Street rises, but indexes dip on Salesforce's worst day in 20 years
==========
Most U.S. stocks rose Thursday following mixed profit reports from big companies and signals that the economy may be cooling, but the worst day for Salesforce’s stock in nearly 20 years helped drag indexes lower. The Standard & Poor’s 500 sank 0.6% even though the majority of stocks across Wall Street rose. The Dow Jones industrial average fell 0.9%, and the Nasdaq composite dipped 1.1%. Salesforce lost a fifth of its value after reporting weaker revenue for the latest quarter than analysts expected. Kohl’s fell even more, 23.3%, after reporting a surprise loss for the latest quarter when analysts were expecting to see a profit. Best Buy topped forecasts even though its revenue fell short last quarter, and its stock rose 12.7%. Foot Locker ran 17% higher after likewise reporting better-than-expected profit despite ringing up sales shy of analysts’ forecasts. C3.ai jumped 20.3% after the software company topped expectations for profit and revenue in the latest quarter. HP gained 18.1% after edging past forecasts for earnings.
#WallStreet #Salesforce #StockMarket #ProfitReports #Economy #Standard&Poor’s500 #DowJones #Nasdaq #Kohl’s #BestBuy #FootLocker #C3ai #Hp
https://www.latimes.com/business/story/2024-05-30/most-of-wall-street-rises-but-indexes-dip-on-salesforces-worst-day-in-20-years

2024-05-23 21:55:19

- reply

#note1ket…qcvh

2024-05-23 21:55:07

Wall Street slumps to worst day since April on worries about interest rates
==========
Most U.S. stocks slumped on Thursday after strong economic reports raised the possibility of interest rates staying high. The S&P 500 fell 0.7%, the Dow Jones dropped 1.5%, and the Nasdaq slipped 0.4%. Treasury yields rose after reports showed growth in U.S. business activity and a solid job market. The Federal Reserve may wait longer before cutting interest rates, potentially causing a deep recession. Hopes for rate cuts this year have diminished. Stocks of utilities and real-estate companies experienced sharp losses. Live Nation Entertainment tumbled 7.8% after being accused of running an illegal monopoly. VF Corp. fell 2.9% after reporting a loss for the latest quarter. Nvidia's stock surged 9.3% after delivering a strong profit report. The S&P 500 fell 39.17 points to 5,267.84, the Dow dropped 605.78 points to 39,065.26, and the Nasdaq composite fell 65.51 points to 16,736.03. Indexes were mixed in Europe and Asia.
#WallStreet #InterestRates #StockMarket #Economy #FederalReserve #TreasuryYields #BusinessActivity #JobMarket #Recession #Utilities #RealEstate #LiveNationEntertainment #VfCorp #Nvidia #S&p500 #DowJones #Nasdaq
https://www.latimes.com/business/story/2024-05-23/stock-market-today-wall-street-slumps-to-worst-day-since-april-on-worries-about-interest-rates

2024-05-17 16:42:23

Justice Alito's home flew flag upside down after Trump's election fraud claims, report says
==========
An upside-down American flag, associated with Trump's false election fraud claims, was displayed outside the home of Supreme Court Justice Samuel A. Alito Jr. in January 2021, days after the Capitol riot. The flag was placed by Alito's wife in response to a neighbor's use of objectionable language on yard signs. The display raises concerns about Alito's impartiality as the court considers cases related to the attack and Trump's immunity from prosecution. Trust in the Supreme Court is at its lowest point in 50 years. The flag display violates ethics rules to avoid bias. The U.S. Flag Code states that the flag should not be flown upside down except as a signal of dire distress. The Supreme Court did not respond to questions about whether its own rules on partisan displays apply to justices.
#JusticeAlito #AmericanFlag #Trump #ElectionFraud #CapitolRiot #Impartiality #SupremeCourt #EthicsRules
https://www.latimes.com/world-nation/story/2024-05-17/justice-alitos-home-flew-flag-upside-down-after-trumps-election-fraud-claims-report-says

2024-05-11 19:03:55

- reply

#note13zk…8dmq

2024-05-11 19:03:43

U.S. plans to impose major new tariffs on EVs, other Chinese green energy imports
==========
The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China. Tariffs on electric vehicles could quadruple from 25% to 100%. The tariffs are expected to be announced on Tuesday and come as officials express frustration over China's manufacturing 'overcapacity' of EVs and other products. The additional tariffs also carry political weight going into the November presidential election, with both Biden and his presumptive Republican challenger, former President Trump, vowing to be tough on China. The announcement is expected to keep in place some tariffs imposed during Trump's administration, covering about $360 billion in Chinese goods. The new tax on imports would add products such as Chinese syringes and solar equipment. The plan for new tariffs was reported earlier by Bloomberg News and the Wall Street Journal.
#Tariffs #ElectricVehicles #China #GreenEnergy #BidenAdministration
https://www.latimes.com/world-nation/story/2024-05-11/us-plans-to-impose-major-new-tariffs-on-evs-other-chinese-green-energy-imports-ap-sources-say

2024-05-10 22:22:09

Wall Street coasts to the finish line of another winning week
==========
U.S. stocks closed another winning week on Wall Street. The S&P 500 index rose 0.2% to 5,222.68, finishing a third straight winning week. The Dow Jones industrial average gained 0.3% to 39,512.84, and the Nasdaq composite edged down by less than 0.1% to 16,340.87. The S&P 500 has climbed back within 0.6% of its record on revived hopes of interest rate cuts by the Federal Reserve this year. Gen Digital jumped 15.3% after reporting better profit for Q1 2024 than expected. Novavax soared 98.7% after announcing a deal with Sanofi worth more than $1.2 billion. Akamai Technologies dropped 11%. Treasury yields rose after a discouraging preliminary report on U.S. consumer sentiment. Markets may remain on hold until Wednesday's update on U.S. inflation. Federal Reserve Chair Jerome H. Powell said the central bank remains closer to cutting its main interest rate than raising it. In stock markets abroad, London's FTSE 100 rose 0.6% and Tokyo's Nikkei 225 rose 0.4%.
#WallStreet #Stocks #S&p500 #DowJones #Nasdaq #FederalReserve #InterestRates #GenDigital #Novavax #Sanofi #AkamaiTechnologies #TreasuryYields #UsConsumerSentiment #Inflation #Ftse100 #Nikkei225
https://www.latimes.com/business/story/2024-05-10/stock-market-today-wall-street-coasts-to-the-finish-line-of-another-winning-week

2024-05-06 19:00:45

- reply

#note1p2l…tl79

2024-05-06 19:00:34

IMF chief Kristalina Georgieva calls U.S. debt load 'mind boggling'
==========
International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned at the Milken Institute Global Conference that the United States' current level of deficit spending is not sustainable and could crimp U.S. and global growth. The U.S. debt is now roughly $34 trillion, consuming more than 17% of federal revenue. Georgieva emphasized the burden on the U.S. and the opportunity cost of the money that could be used to finance jobs and business opportunities for American companies in emerging markets. She called for the U.S. to address its entitlement spending but acknowledged the strength of the U.S. economy and its position as a pillar of the world economy. Georgieva also discussed the impact of trade restrictions and industrial policies on global growth rates, warning that they can cause the world economy to lose between 0.2% and 7% of GDP. She expressed optimism that policymakers will take corrective action to avoid a crisis. The Milken Institute Global Conference, with a focus on artificial intelligence, sustainability, and other pressing issues, features more than 200 sessions and over 1,000 speakers, including Argentina President Javier Milei and Elon Musk.
#Imf #UsDebt #DeficitSpending #GlobalGrowth #MilkenInstituteGlobalConference #KristalinaGeorgieva #TradeRestrictions #IndustrialPolicies
https://www.latimes.com/business/story/2024-05-06/milken-institute-global-conference-imf-krisalina-georgieva-javier-milei-elon-musk

2024-04-26 22:59:01

- reply

#note15qa…s9mk

2024-04-26 22:58:50

Alphabet and Microsoft help Wall Street clinch its best week in nearly six months
==========
Alphabet and Microsoft contributed to Wall Street's best week in nearly six months. The Standard & Poor’s 500 index rallied 1%, the Dow Jones industrial average rose 0.4%, and the Nasdaq composite jumped 2%. Alphabet's stock leaped 10.2% after exceeding profit expectations and announcing a dividend and stock buyback program. Microsoft climbed 1.8% after reporting stronger-than-expected profit and revenue, driven by growth in its cloud-computing business. Intel, however, saw a 9.2% drop in its stock after reporting weaker-than-expected revenue and profit. The stock market has been under pressure due to diminished hopes for interest rate cuts by the Federal Reserve. Inflation remains high, but economists expect it to cool in the coming months. The higher-than-expected inflation readings will likely cause the Fed to hold rates steady at its next policy meeting. So far, about 75% of companies have topped analysts' profit forecasts for the reporting season. The S&P 500 rose 51.54 points to 5,099.96, the Dow added 153.86 points to close at 38,239.66, and the Nasdaq gained 316.14 points to 15,927.90.
#Alphabet #Microsoft #WallStreet #StockMarket #S&p500 #DowJones #Nasdaq #Profit #Revenue #Dividend #StockBuyback #CloudComputing #InterestRates #Inflation
https://www.latimes.com/world-nation/story/2024-04-26/stock-market-today-alphabet-and-microsoft-help-wall-street-clinch-its-best-week-in-nearly-6-months

2024-04-24 10:59:22

AI-powered cameras installed on Metro buses to ticket illegally parked cars
==========
Artificial intelligence-powered cameras are being installed on Los Angeles Metro buses to help ticket cars parked in bus lanes. Testing is planned for this summer and the program is expected to go live by the end of 2024. The program is designed to improve bus times, increase ridership, and address mobility concerns. Metro's Board of Directors approved an $11 million-contract with technology company Hayden AI to roll out 100 camera systems. The cameras will be mounted inside Metro bus windshields to monitor for parked vehicles in bus lanes and at bus stops. The cameras will constantly scan for illegally parked cars and will record only when a potential violation is observed. Once a recording is made, it will be submitted to the L.A. Department of Transportation for assessment and potential ticket issuance. Similar programs are being used in Washington, D.C., and as the use of artificial intelligence continues to expand for travel safety.
#AipoweredCameras #MetroBuses #IllegallyParkedCars #LosAngeles #BusLanes #HaydenAi #LaDepartmentOfTransportation #TravelSafety
https://www.latimes.com/california/story/2024-04-24/ai-powered-cameras-installed-on-metro-buses-will-be-used-to-spot-illegally-parked-cars

2024-04-19 20:31:33

California returns to job growth in March, but unemployment rate remains highest in nation
==========
California's job growth turned upward in March, but the state still posted the highest unemployment rate in the country for the second month in a row. The state's jobless rate remained steady at 5.3% last month, while the national unemployment rate ticked down to 3.8%. California's employment growth has been lagging behind the nation due to high interest rates affecting the high-tech, entertainment, and housing sectors. However, analysts believe that California will not fall into a recession and expect job prospects to improve in the future. The state added 28,300 net new jobs in March, about 9% of the nation's total. Over the last year, health services and private education have accounted for over 80% of the state's added jobs. Major sectors such as information, business and professional services, and manufacturing have lost jobs over the last year. The state's unemployment rates vary widely by county, with some rural areas experiencing double-digit unemployment rates. Despite the challenges, experts believe that California will muddle through until interest rates ease and inflation comes down. The state is expected to avoid a recession and the broader U.S. economy is continuing to expand nicely.
#California #JobGrowth #UnemploymentRate #Economy #InterestRates #Employment #Recession
https://www.latimes.com/business/story/2024-04-19/california-returns-to-job-growth-in-march-but-unemployment-rate-remains-highest-in-nation

2024-04-18 21:44:45

Wall Street drifts to a mixed finish as yields tick higher
==========
U.S. stock indexes drifted to a mixed close on Thursday after more reports showing the economy remains stronger than expected. The Standard & Poor’s 500 index fell 0.2% for its fifth straight loss, its longest such streak since October. The Dow Jones industrial average edged up by 0.1%, and the Nasdaq composite slipped 0.5% after a mixed set of profit reports from big companies. Treasury yields rose after the release of the stronger-than-expected economic data that showed the number of layoffs across the country remains relatively low and that manufacturing in the mid-Atlantic region accelerated unexpectedly. Equifax dropped 8.5% for one of the market’s bigger losses after it reported weaker revenue for the latest quarter than analysts expected. Las Vegas Sands fell 8.7% even though it reported better results than expected. Elevance Health climbed 3.2% after raising its profit forecast for the full year. Genuine Parts jumped 11.2% for the biggest gain in the S&P 500 after reporting stronger profit for the latest quarter than analysts expected. Stocks have been struggling recently as yields in the bond market charge higher. Yields climbed higher after reports showed the U.S. economy remains stronger than expected. The job market remains solid despite high interest rates. Manufacturing in the mid-Atlantic region accelerated sharply. Sales of previously occupied U.S. homes didn’t fall as much last month as economists expected. The Federal Reserve may hold interest rates high for a while. Traders are now forecasting just one or two rate cuts this year. In the bond market, the yield on the 10-year Treasury rose to 4.64% from 4.59% late Wednesday. The two-year Treasury yield rose to 4.98% from 4.94%. Alaska Air rose 4.3% after projecting better profits for the current quarter. Ally Financial jumped 6.7% after reporting stronger earnings for the latest quarter. The Walmart-backed digital company, , jumped 17.3% in its first day of trading. Indexes rose modestly across much of Europe and Asia. South Korea’s Kospi jumped 2% to help lead markets worldwide.
#WallStreet #StockMarket #Yields #Economy #TreasuryYields #FederalReserve
https://www.latimes.com/business/story/2024-04-18/stock-market-today-wall-street-drifts-to-a-mixed-finish-as-yields-tick-higher

2024-04-16 10:28:22

Opinion: The decline in American life expectancy harms more than our health
==========
American life expectancy started dropping even before the pandemic. Rates of depression have risen from 30% to 42% since the turn of the century. Vaccine-preventable illnesses and sexually transmitted infections have increased. COVID-19 became one of the top three causes of death in the country. A one-year increase in life expectancy could boost economic output by 4%. The U.S. spends $4.5 trillion annually on health. Public health investments are crucial for economic productivity. Access to healthcare and insurance play a role, but resources like clean air and water, affordable housing, and safe workplaces are better predictors of good health. Programs addressing basic needs during the pandemic enhanced housing stability and curbed COVID spread. The U.S. lacks universal paid sick leave and family medical leave. The majority of health spending goes to treating people when they are already sick. Treating public health as an economic imperative could improve wellbeing and productivity.
#LifeExpectancy #PublicHealth #Economy #Healthcare #Covid19
https://www.latimes.com/opinion/story/2024-04-16/united-states-economy-covid-public-health

2024-04-15 20:45:07

AI-generated child pornography is circulating. This California prosecutor wants to make it illegal.
==========
Ventura County Dist. Atty. Erik Nasarenko is advocating for a change to California law to protect children from AI-generated child pornography. Nasarenko received his first tip about AI-generated photos depicting an underage girl performing sex acts with an adult man. Current loopholes in California law prevent charges from being pressed in cases involving AI-generated photos of children. The U.S. National Center for Missing and Exploited Children received 4,700 reports of AI-generated photos depicting child sexual exploitation. Assembly Bill 1831, co-sponsored by Nasarenko, would make AI-generated sexually explicit images of children illegal to possess, distribute, and create. The bill has bipartisan support and is headed to the Privacy and Consumer Protection Committee.
https://www.latimes.com/california/story/2024-04-15/ai-generated-child-pornography-is-circulating-this-california-prosecutor-wants-to-make-it-illegal

2024-04-10 14:40:02

Why Biden is getting little credit for the economy, especially in California
==========
President Biden is facing challenges in receiving credit for the resilient economy, particularly in California. While economists agree that the American economy has made a remarkable recovery under Biden's presidency, public opinion, especially in California, remains negative. Inflation appears to be the biggest economic concern for Biden, despite the fact that the rate of inflation has come down significantly. However, consumers tend to focus more on the rising prices of everyday items, such as gasoline, which are higher in California. The psychological impact of inflation is stronger in California due to the state's high cost of living. The perception of high inflation creates anxiety among Californians, particularly lower-income and younger residents. Although wages have increased and purchasing power has not been eroded, people tend to externalize the increase in prices and blame the government or others. Biden faces the challenge of overcoming this psychology and the negative mood caused by inflation, especially in California, where the economy has been lagging behind the national average. The state's job growth rate is half of the national rate, and consumer confidence in California is significantly lower than in other big states. Additionally, credit card delinquencies and financial struggles related to housing and living expenses are increasing in California. Gas prices in California are higher than the national average, which could further impact Biden's popularity. The high inflation and mortgage rates have also made it difficult for renters in their prime home-buying years to enter the housing market. Overall, Biden's handling of the economy is not receiving the credit it deserves, particularly in California.
#Biden #Economy #Inflation #California #PublicOpinion
https://www.latimes.com/business/story/2024-04-10/why-biden-is-getting-little-credit-for-the-good-economy

2024-04-09 10:53:51

Opinion: Anti-immigrant vitriol isn't just bigotry. It also hugely misunderstands our economy
==========
Conservative leaders have used pressures at the U.S.-Mexico border to vilify immigrants and refugees. However, this anti-immigrant sentiment misunderstands the realities of the economy. Immigrants, including a large undocumented population, make significant contributions to the economy, paying taxes and contributing to spending power. Immigrants are also overrepresented in high-risk jobs and are twice as likely as citizens to work for hourly compensation below the prevailing 'living wage.' Immigrant entrepreneurs and investors drive much of the country's innovation, with immigrants launching more than half of America's startup companies valued at $1 billion or more. California has led in policies that address the needs and potential of noncitizens, providing benefits such as driver's licenses, college scholarships, low-income tax credits, direct cash aid during the pandemic, and Medi-Cal health coverage. However, more can be done, including stronger labor protections, access to food stamp benefits and cash assistance for elderly and vulnerable immigrants, and allowing noncitizens to vote in local elections. Rejecting the tradition of inclusion and fairness in immigration could have negative consequences for the country.
#Immigration #Economy #AntiimmigrantSentiment #UndocumentedImmigrants #LaborProtections #Entrepreneurs #Innovation #California
https://www.latimes.com/opinion/story/2024-04-09/immigration-trump-biden-economy

2024-03-31 11:01:16

Column: Trump loves fossil fuels; California wants clean energy. Cue collision
==========
Former aides say Donald Trump, if he is returned to the White House, would try to revoke California’s tough vehicle emissions standards and open more federal waters, possibly including the Pacific Coast, to oil drilling. Trump's priority is increasing oil and gas production. California, on the other hand, has made clean energy a major goal. Trump frequently portrays California as a disaster zone, often in exaggerated or invented tales. A large majority of Californians support their state’s ambitious climate goals. Trump plans to scrap President Biden’s programs encouraging renewable energy and offer tax breaks to oil, gas, and coal producers. He also wants to repeal federal subsidies for solar, wind, and other renewable energy projects. Trump is likely to revive two of his first-term goals: revoking California’s tough vehicle emissions standards and opening more federal waters to oil drilling. Trump's administration could limit California’s emissions standards to smog-producing pollutants like ozone, not greenhouse gases like carbon dioxide. Offshore oil drilling could also produce a standoff, as Trump proposed opening federal waters along the entire Pacific Coast to drilling for oil and gas. However, deep-water drilling in the North Pacific is expensive and risky, and local politics in California could make it prohibitively expensive to move oil from offshore wells to onshore refineries or terminals. Trump is also against wind energy, while offshore wind farms are a big part of California’s clean energy plans. Environmentalists are worried that a second Trump administration would worsen the climate crisis. Many environmental groups have endorsed Biden's reelection despite criticizing many of his decisions.
#DonaldTrump #California #FossilFuels #CleanEnergy #VehicleEmissionsStandards #OilDrilling #RenewableEnergy #ClimateGoals #EnvironmentalAgenda
https://www.latimes.com/politics/story/2024-03-31/column-trump-wants-to-turn-from-clean-energy-to-fossil-fuels-that-will-mean-a-collision-with-california

2024-03-29 23:13:31

How do you direct ‘Godzilla x Kong’? Adam Wingard took performance notes from his cat
==========
Director Adam Wingard describes 'Godzilla x Kong: The New Empire' as his 'mic-drop monster movie'. The movie, the fifth in Legendary's MonsterVerse franchise, features Kong facing his most challenging foe yet: a toothache. Wingard drew inspiration from his own dental woes while making his 2011 horror breakout film. The director wanted to put the audience in the perspective of the monsters and create a film driven by nonverbal visual sequences. Wingard also expressed his excitement for the traditional red-carpet premiere and the opportunity to release the movie on the biggest screen possible. The movie expands the mythos of the kaiju creatures and introduces a new villain. Wingard aims to inspire future filmmakers and wants the audience to understand the monsters as characters. He took inspiration for Godzilla's mannerisms from his cat. Wingard is interested in developing a horror project but would be open to making another MonsterVerse film if asked.
#AdamWingard #GodzillaXKong #Monsterverse #Film #Directing #Monsters #VisualSequences #Inspiration #Cat #HorrorProject
https://www.latimes.com/entertainment-arts/movies/story/2024-03-29/godzilla-x-kong-new-empire-adam-wingard-monsterverse-interview

2024-03-29 11:03:36

They were friends first. Now Olivia Colman and Jessie Buckley want a franchise
==========
Olivia Colman and Jessie Buckley, friends and co-stars, are considering starting a podcast together. They have spent summer holidays together and have been friends for six or seven years. They first met at a festival and connected immediately. Colman recommended Buckley for a role in 'The Lost Daughter' and also takes credit for Buckley's casting in 'Wicked Little Letters.' The pair have a strong bond and love working together. They are considering future projects, including a pirate-themed idea. 'Wicked Little Letters' is a comedy that emphasizes the importance of female friendship.
#OliviaColman #JessieBuckley #Podcast #Friendship #Acting #Movies
https://www.latimes.com/entertainment-arts/movies/story/2024-03-29/olivia-colman-jessie-buckley-wicked-little-letters-lost-daughter-interview

2024-03-15 03:11:31

Alec Baldwin asks judge to dismiss charges in fatal 'Rust' shooting
==========
Alec Baldwin has filed a motion to dismiss involuntary manslaughter charges against him in the 'Rust' movie shooting. Baldwin's attorneys allege misconduct by prosecutors and claim that his constitutional right to a fair trial has been threatened. The motion details several alleged missteps by special prosecutors, including a 'sham' grand jury proceeding and the failure to present evidence that favored Baldwin. The previous set of prosecutors made high-profile mistakes, and the new allegations come after a conviction of the film's armorer, Hannah Gutierrez. Baldwin has pleaded not guilty to the charges, and his criminal trial is set to begin on July 10.
#AlecBaldwin #RustShooting #InvoluntaryManslaughter #MotionToDismiss #Misconduct #FairTrial #Prosecutors #GrandJury #HannahGutierrez #Trial
https://www.latimes.com/entertainment-arts/business/story/2024-03-14/alec-baldwin-asks-judge-to-dismiss-charges-in-fatal-rust-shooting

2024-02-26 00:17:07

Lakers can't match the Suns at the finish in loss on the road
==========
The Lakers lost to the Suns in a 123-113 game. The Lakers trailed by as many as 20 points in the first quarter. LeBron James scored 28 points and had 12 assists. Anthony Davis had 22 points and 14 rebounds. D'Angelo Russell added 20 points and seven assists. The Suns' Royce O'Neale and Grayson Allen combined to make 12 of 22 three-pointers. The Lakers have lost twice since winning six out of seven games before the All-Star break. They will play the Clippers next.
#LosAngelesLakers #PhoenixSuns #Nba
https://www.latimes.com/sports/lakers/story/2024-02-25/los-angeles-lakers-phoenix-suns-nba-game-recap

2024-02-18 23:43:09

Daily Pilot e-newspaper: Sunday, Feb. 18, 2024
==========
The Daily Pilot's e-newspaper for Sunday, Feb. 18, 2024 includes coverage of Newport Beach, Huntington Beach, Costa Mesa, Laguna Beach, Fountain Valley, and other parts of Orange County. Stories featured include a local mom rescuing farm animals, the 50th anniversary of the Corona del Mar Home Tour, Fountain Valley's experience in dealing with gophers, the Pacific Chorale's 'Language of Love' concert featuring Elton John's 'Your Song' and other hits, a book called 'Goodnight Surf City' that shows love for the author's hometown and family, the role of The Drake Gives in funding music education, a woman landing in jail due to lack of punctuation, and the tradition of Sugar 'n Spice worth keeping. There are also updates on Huntington Beach and Laguna Beach. The e-newspaper is available in a PDF file. The article was published on Feb. 18, 2024.
#DailyPilot #E-newspaper #OrangeCounty #NewportBeach #HuntingtonBeach #CostaMesa #LagunaBeach #FountainValley #PacificChorale #EltonJohn #MusicEducation #Book #Jail #Tradition
https://www.latimes.com/socal/daily-pilot/news/story/2024-02-18/daily-pilot-e-newspaper-sunday-feb-18-2024

2024-01-18 00:30:14

Column: Davos, where the rich and powerful go to show off their ignorance
==========
The annual World Economic Forum in Davos, Switzerland, is known for its inaccurate economic forecasts and misjudgments by business and political leaders. In an interview, Jamie Dimon, CEO of JPMorgan Chase, made delusional judgments about current affairs and recent politics, praising Donald Trump's presidency and suggesting that negative talk about MAGA (Make America Great Again) would hurt Biden's electoral campaign. Dimon's statements on NATO, immigration, tax reform, and economic growth were contradicted by facts and evidence. The article criticizes the tendency of Davos attendees to make unreliable predictions and highlights the lack of expertise in political matters among business leaders. The history of inaccurate predictions at Davos is mentioned, including the failure to anticipate the subprime crisis in 2008 and the election of Trump in 2016. The article concludes that bringing together successful but self-important individuals to forecast the future is unreliable and disconnected from reality.
#Davos #WorldEconomicForum #EconomicForecasts #JamieDimon #JpmorganChase #DonaldTrump #Maga #Nato #Immigration #TaxReform #EconomicGrowth
https://www.latimes.com/business/story/2024-01-17/at-davos-jpmorgan-ceo-jamie-dimon-praises-trump-in-an-amazingly-dumb-interview

2024-01-14 11:49:05

Opinion: The gig economy sucked in millennials like me. Will we ever get out?
==========
The gig economy has drawn in millennials, with 45% of all freelancers being millennials and almost half of all working millennials freelancing. The author, a 32-year-old freelance writer, shares her experience of working part-time jobs since finishing her commitment with Teach for America at 23. She initially saw gig work as normal and innocuous, but became a primary caretaker for her mother and had to juggle multiple part-time jobs to care for her, stay in school, and earn money. After her mother's death, she faced the challenges of balancing child care and work, eventually leaving the workforce entirely during the pandemic. The author highlights the need for sustainable work in the gig economy and calls for bigger changes to make participating in the gig economy a viable, long-term choice.
#GigEconomy #Millennials #Freelancing #Part-timeJobs #Work-lifeBalance
https://www.latimes.com/opinion/story/2024-01-14/economy-millennials-gen-z-freelance-gigs

2024-01-12 11:35:37

Opinion: When immigrants are demonized, the U.S. betrays its ideals — and economic reality
==========
The opinion piece discusses the demonization of immigrants in the United States and how it goes against the country's ideals and economic reality. The author highlights the historical troubled relationship with immigrants and the current open xenophobia, particularly within the Republican Party. The article emphasizes the economic need for immigrants in the face of retiring baby boomers and a low birthrate. It calls for a balanced approach to immigration that includes border control, incentives for workers, and a path to citizenship for undocumented residents. The lack of bipartisanship in Congress is noted as a hindrance to comprehensive immigration reform. The article contrasts the Republican Party's current stance on immigration with that of Ronald Reagan, who signed a comprehensive law including amnesty for millions in 1986. The author expresses hope that Republicans will eventually recognize the need for immigrants out of self-interest.
#Immigration #U.s.Ideals #EconomicReality #RepublicanParty #BorderControl #Bipartisanship
https://www.latimes.com/opinion/story/2024-01-12/immigration-southern-border-donald-trump-joe-biden-ukraine-israel-aid

2024-01-11 15:51:35

U.S. inflation edges up, fueled by energy and housing prices, but many other costs rise only mildly
==========
The U.S. inflation rate edged up in December, fueled by higher energy and housing prices. Overall prices rose 0.3% from November and 3.4% from the previous year. Housing costs accounted for more than half of the increase, while energy costs and food prices also contributed. Excluding volatile food and energy costs, core prices rose just 0.3% month over month and were up 3.9% from a year earlier. Despite the slowdown in inflation, many Americans remain dissatisfied with the economy due to the lingering effects of high inflation. The Federal Reserve aims to reduce year-over-year inflation to its 2% target level. Consumer expectations for inflation have decreased, which is seen as a positive sign. However, there are concerns about the labor market, as fewer people are looking for work, potentially leading to higher wages and inflation. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.
#U.s.Inflation #EnergyPrices #HousingPrices #CorePrices #FederalReserve #Economy #ConsumerExpectations #LaborMarket
https://www.latimes.com/business/story/2024-01-11/us-inflation-edges-up-fueled-by-energy-and-housing-prices-but-many-other-costs-rise-only-mildly

2024-01-08 13:58:22

How Cord Jefferson's big break with 'American Fiction' may be a breakthrough for others
==========
Cord Jefferson, known for his Emmy Award-winning work on 'Watchmen' and 'Succession,' struggled to get his own projects picked up by streamers or networks. However, his feature film 'American Fiction,' adapted from Percival Everett's novel 'Erasure,' was greenlit by T-Street production entity. The film, directed by Jefferson, centers around a professor of English literature who writes a stereotypical novel about the Black experience as a way to vent his anger. Despite progress made in the 20 years since the novel was first published, the material remains relevant. Jefferson hopes that the success of 'American Fiction' will open doors for other filmmakers to tackle unconventional projects in the future.
#CordJefferson #AmericanFiction #Film #Adaptation #PercivalEverett #Diversity #Hollywood
https://www.latimes.com/entertainment-arts/awards/story/2024-01-08/how-cord-jeffersons-big-break-with-american-fiction-may-be-a-breakthrough-for-others