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[ad_1] CNN — On the face of it, the so-called “Trump accounts” — which would provide parents of newborns with $1,000 to invest on behalf of their child’s future — would be a plus for many families. “It’s a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation, and they’ll really be getting a big jump on life,” President Donald Trump said Monday at a White House event. The five-year pilot program, which is included in the House-passed budget bill — also known as the “One Big Beautiful Bill…
[ad_1] The leaders of a US sex-focused women’s wellness company that promoted “orgasmic meditation” have been convicted of federal forced labor charges. A Brooklyn jury on Monday found Nicole Daedone, founder of OneTaste Inc., and Rachel Cherwitz, the California-based company’s former sales director, guilty after deliberating for less than two days following a five-week trial. The two each face up to 20 years in prison, with sentencing due later. Prosecutors argued the two women ran a years-long scheme that groomed adherents –many of them victims of sexual trauma – to do their bidding. They said Daedone, 57, and Cherwitz, 44,…
[ad_1] A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free here. New York CNN — Apple’s big developer summit is a Silicon Valley institution. The company has been hosting it every year since 1983, and in more recent years the events have become a fixture of the tech hype machine — a chance for Apple to show off its latest software to investors and the folks who build apps for those products. Look, they can’t all be bangers. The Worldwide Developers Conference comes around every 12 months, like…
[ad_1] From recapitalising rural banks to propping up the stock market, Central Huijin, an arm of China’s sovereign wealth fund, has supported the country’s financial system since its launch two decades ago. But over the past year, the scale of its interventions has thrust it into the spotlight. Central Huijin’s holdings of exchange traded funds soared past Rmb1tn ($140bn) in 2024, a seven-fold increase year on year, as the government ordered stimulus measures aimed at boosting the economy.Beijing has made clear its desire to build bigger financial institutions to help its already state-dominated financial sector navigate economic and market turmoil. Central…
[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is professor of economics at King’s College, London, and a former member of the Bank of England’s Monetary Policy CommitteeThe discussion on the UK fiscal position is focused on whether it is consistent with the government’s self-imposed fiscal rules. As that becomes more doubtful, it leads to debate about whether these rules should be modified, and the IMF has recently offered its own advice on the matter. While the UK will face difficult choices to align spending with available…
[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Copper smelters are paying record sums to turn raw concentrate into the red metal, following moves by China to try to dominate the global market through a huge building programme of processing facilities.The fee smelters charge to process copper concentrate — for which they would in normal times expect to earn a healthy margin — has been negative for most of this year and hit a record low of minus $45 a tonne at the end of May, according to data…
[ad_1] CNN — Call it a “chip shortage on steroids.” That’s how one expert told CNN the auto industry is describing a possible shortage of rare earth elements — minerals that are now center stage in the global trade war. Running low on those minerals could recall the pandemic-era chip shortage that jacked up car prices, used and new, across America. China has a virtual monopoly on those 17 metallic elements, which are critical components to everyday products from cars to jet engines to electronics like smartphones and flat-screen TVs. They’re even crucial for the contrast dye used in MRI…
[ad_1] 2025-06-10T01:54:45Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. TSA said Costco cards are not valid as a Real ID for airport security. The agency posted on social media to tell people that Costco cards do not count as a Real ID. TSA said, “Unless your $1.50 hot dog has a passport, you’re gonna need a REAL ID.” “Can’t fly…
[ad_1] Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching as the S & P 500 posted back-to-back gains Monday, and what’s on the radar for the next session. Apple and the supply chain The stock fell 1.2% Monday during its Worldwide Developers Conference 2025. Apple is now 22.55% from the Dec. 26 high. The New York Times led its coverage of the day’s event with this: “At a…
[ad_1] The White House is ready to usher in a new generation of boss babies — and it’s enlisting the help of some of America’s most prominent executives.A small crowd of CEOs joined President Donald Trump at the White House for a roundtable on Monday to promote his plan to deposit $1,000 in investment accounts for newborn babies. The program is part of the president’s signature — and controversial — spending bill, which has passed the House but faces headwinds in the Senate after getting publicly bashed by Elon Musk.The CEOs who attended the roundtable included Dell Technologies CEO Michael…