Poll Highlights Gap Between Economic Data and Consumer Attitudes
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Poll Highlights Gap Between Economic Data and Consumer Attitudes
Poll Highlights Gap , Between Economic Data and , Consumer Attitudes .
CNBC reports that over half of Americans
falsely believe the United States is in
the middle of an economic recession.
A recession is officially defined as an extended period of
economic decline, usually after gross domestic product
(GDP) declines for two or more consecutive quarters.
.
However, for the past several years,
GDP has actually been increasing.
Despite this, a recent Guardian/Harris poll
found that 56% of respondents believe the
U.S. is currently experiencing a recession.
.
Despite this, a recent Guardian/Harris poll
found that 56% of respondents believe the
U.S. is currently experiencing a recession.
.
At the same time, 58% of those polled believe
that the Biden administration is responsible
for the perceived economic downturn.
In the first quarter of 2024,
the GDP grew by 1.6%.
.
CNBC reports that the recent poll
highlights the ongoing gap between
economic feelings and economic data.
.
Consumer attitudes have been
lagging amid persistent inflation and
a consequently high cost of daily living.
.
The poll comes just six months ahead of the November
presidential election which will pit President Joe Biden
against former president Donald Trump.
The poll comes just six months ahead of the November
presidential election which will pit President Joe Biden
against former president Donald Trump.
The Biden administration has been trying to shift the
mood of voters and recognize economic gains the U.S.
has made in the wake of the COVID-19 pandemic.
.
The Biden administration has been trying to shift the
mood of voters and recognize economic gains the U.S.
has made in the wake of the COVID-19 pandemic.
Kamala Harris pressed Israeli Prime Minister Benjamin Netanyahu on the dire humanitarian situation in Gaza, signaling a potential shift from President Biden's approach. Harris expressed serious concern and emphasized the need for Israel to consider the impact of its actions. This came amid ongoing efforts for a ceasefire in Gaza. Bidenâs recent endorsement of Harris for the 2024 presidential nomination adds a new dynamic to U.S. policy in the region.
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In a critical prime-time address, President Joe Biden urges Americans to reject political violence and resolve their differences peacefully following the attempted assassination of former President Donald Trump. Highlighting the importance of civility in political discourse, Biden calls for unity and condemns the normalization of violence. Watch his powerful message and join the discussion on how we can heal as a nation.
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Speaking in the Oval Office, Biden said passions were running high on both sides and the stakes of the election were enormous but that violence was not the answer, adding "We can do this".
Credit: euronews (in English) Duration: 02:23Published
Middle-Aged Americans Are, Underprepared for Retirement, , Study Finds.
'Newsweek' reports that people in the United States
who are approaching retirement age may be critically
underprepared when it comes to their savings.
According to Prudential Investments, Americans around
the age of 55 are facing a "midlife retirement crisis,"
lacking the funds for a comfortable post-working life. .
A recent survey by the major insurance
provider found the average retirement
savings of a 55-year-old to be $47,950. .
This falls significantly short of the recommended
goal of having eight times a person's annual
income saved by the time they reach 55. .
According to the survey, 57% of 55-year-olds
said they expected to outlive the funds
they have currently managed to save.
That's compared to 59%
of 65-year-olds and
52% of 75-year-olds.
The survey also found that one-third of 55-year-olds
and 43% of 65-year-olds have already been forced
to postpone retirement due to inflation.
Attention today is rightly centered on
the approximately 11,000 65-year-olds
entering retirement every week, but we
must also focus as an industry on the
opportunity to help a slightly younger
generation of workers entering the
critical 10-year countdown to retirement, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'.
Further, the financial futures
of certain cohortsâsuch as
womenâare especially precarious, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'.
The upside is that, with the right
planning and strategy to protect
their life's work, we can ensure
this generation is well-prepared
to live not only longer, but better, Caroline Feeney, executive vice president and head
of Prudential's U.S. Businesses, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
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Walgreens Plans , âSignificantâ Store Closures.
On June 27, Walgreens announced quarterly earnings
that were poorer than expected, NBC News reports.
The company's stock fell 15% in pre-market trading.
CEO Tim Wentworth issued a press release.
We continue to face a difficult operating
environment, including persistent
pressures on the U.S. consumer and the
impact of recent marketplace dynamics
which have eroded pharmacy margins, Tim Wentworth, Walgreens CEO, via press release.
Our results and outlook
reflect these headwinds, Tim Wentworth, Walgreens CEO, via press release.
Wentworth elaborated in an interview with CNBC.
The consumer is absolutely stunned by
the absolute prices of things, and the
fact that some of them may not be
inflating doesnât actually change their
resistance to the current pricing, Tim Wentworth, Walgreens CEO, via CNBC.
On a call with analysts, Wentworth said that Walgreens' strategy will have to "include the closure of a significant portion of these underperforming stores.".
75% of our stores drive 100% of our
profitability today. What that means is
the others we take a hard look at, we are
going to finalize a number that we will close, Tim Wentworth, Walgreens CEO, via call with analysts.
The pharmacy chain currently
operates about 8,600 stores
Credit: Wibbitz Top Stories Duration: 01:30Published
US Water System May Be , Vulnerable to Cyberattack, by China, Russia and Iran.
CNBC reports that the United States
water system has been the target of a series
of cyberattacks over the past few years. .
In response, the Environmental Protection Agency
(EPA) has been forced to issue an alert warning
that 70% of water systems do not comply
with the Safe Drinking Water Act.
According to the EPA, some have âalarming
cybersecurity vulnerabilities,â including
unchanged default passwords and former
employees who retain access to vital systems.
In February, the FBI issued a warning to
Congress that Chinese hackers have embedded
themselves into the U.S. cyber infrastructure. .
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Water is among
the least mature
in terms of security, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Stuart Madnick, an MIT professor of engineering
systems and co-founder of Cybersecurity at
MIT Sloan, warns that an attack that shuts off
water to the population is the main concern.
We have demonstrated in our
lab how operations, such as
a water plant, could be shut
down not just for hours or
days, but for weeks, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
CNBC reports that budgets, outdated
infrastructure and an overall reluctance to take
action may prevent necessary fixes from
being made before a serious attack.
Credit: Wibbitz Top Stories Duration: 01:31Published
European Union Announces , Higher Tariffs on Chinese EVs.
On June 12, the EU said it will
impose higher tariffs on imports of
Chinese electric vehicles (EVs), CNBC reports. .
The increase in tariffs is the result of a
probe launched by the EU in October.
According to the EU, the Chinese imports benefit "heavily from unfair subsidies" and threaten "economic injury" to European EV producers.
The influx of subsidized Chinese imports
at artificially low prices therefore
presents a threat of clearly foreseeable
and imminent injury to EU industry, European Commission, via statement.
A 38.1% tariff will be imposed on battery electric vehicle producers who refused to cooperate with the bloc's investigation.
A 21% tariff will be implemented for carmakers in China who complied
but have yet to be "sampled.".
On June 11, a spokesperson for China's Ministry of Commerce called the higher
tariffs a "protectionist act.".
The findings disclosed in the EU
ruling lack factual and legal basis, Spokesperson for China's Ministry of Commerce, via statement.
This is a naked protectionist act,
creating and escalating trade
frictions, and 'destroying fair
competition' in the name of
'maintaining fair competition.' , Spokesperson for China's Ministry of Commerce, via statement.
This move by the EU not only damages the
legitimate rights and interests of Chinaâs
electric vehicle industry, but will also disrupt
and distort the global automotive industry
chain supply chain, including the EU, Spokesperson for China's Ministry of Commerce, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk Drops Lawsuit , Against OpenAI.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
The suit alleged that OpenAI initially worked
to develop artificial general intelligence
"for the benefit of humanity" but later strayed
from that goal to become a for-profit entity. .
Musk, who had a hand in launching
OpenAI, was suing "for breach of contract
and fiduciary duty," CNBC reports.
In March, experts told CNBC that the suit had a murky legal foundation because there was no formal written agreement signed by each party.
On June 11, Musk dropped the lawsuit.
It was dismissed without prejudice.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
He called the partnership "an unacceptable security violation" since Apple has
"no clue what's actually going on.".
Itâs patently absurd that Apple isnât
smart enough to make their own
AI, yet is somehow capable of
ensuring that OpenAI will protect
your security & privacy!, Elon Musk, via X.
Musk went on to say that if Apple
"integrates OpenAI at the OS level," the company's devices will be banned at his businesses.
Credit: Wibbitz Top Stories Duration: 01:31Published
Apple Is Reportedly Building , a Dedicated Passwords App.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
The new app will be called Passwords, Engadget reports.
The app will be revealed at the
Worldwide Developers Conference in June.
While Apple already offers password
services via the iCloud Keychain.
it can be tedious to find
or change passwords with it.
A dedicated passwords app would make the whole process easier and likely encourage some people to stick with Apple.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Such categories include "accounts, WiFi networks and Passkeys," CNBC reports. .
Users will be able to
import passwords from other apps.
Two-factor verification codes
will also be supported.
It's not clear if Passwords will let you
store files and images as its rivals do.
Credit: Wibbitz Top Stories Duration: 01:30Published
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