CNBC

CNBC
2023-09-15 14:53:01 - Translate -

Why The U.S. Won’t Pay Down Its Debt

The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference.

The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest.

Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.

Correction on Sept. 12, 2023 at timecode 0:11: The voice over has been updated to reflect the national debt grew $300 billion between July and September 2023.

#cnbc #breakingnews #news #usadebt #paydown #nationaldebt #market #goverment #

Why The U.S. Won’t Pay Down Its Debt The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to. Correction on Sept. 12, 2023 at timecode 0:11: The voice over has been updated to reflect the national debt grew $300 billion between July and September 2023. #cnbc #breakingnews #news #usadebt #paydown #nationaldebt #market #goverment #

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CNBC
2023-08-13 14:21:23 - Translate -

How Amazon Is Making Custom Chips To Catch Up In Generative A.I. Race

Despite its firm footing as the world’s biggest cloud provider, Amazon Web Services got a slow start to the generative AI race. AWS released its large language model, Titan, months after Microsoft’s reported $13 billion investment in ChatGPT-maker OpenAI and Google’s release of Bard. But AWS is also designing its own custom AI microchips, shown to CNBC in an exclusive tour of its Austin chip lab. Now analysts say AWS may gain a long term advantage in AI by offering an alternative to Nvidia GPUs.

#cnbc #news #amazon #customchips #airace #chatgpt #ai #gpus #aws #openai #amazonwebservices

How Amazon Is Making Custom Chips To Catch Up In Generative A.I. Race Despite its firm footing as the world’s biggest cloud provider, Amazon Web Services got a slow start to the generative AI race. AWS released its large language model, Titan, months after Microsoft’s reported $13 billion investment in ChatGPT-maker OpenAI and Google’s release of Bard. But AWS is also designing its own custom AI microchips, shown to CNBC in an exclusive tour of its Austin chip lab. Now analysts say AWS may gain a long term advantage in AI by offering an alternative to Nvidia GPUs. #cnbc #news #amazon #customchips #airace #chatgpt #ai #gpus #aws #openai #amazonwebservices

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CNBC
2023-07-27 14:27:01 - Translate -

The End Of Free Money At The Federal Reserve

The U.S. is entering a new economic era. It began with an interest rate tightening cycle coming out of the Federal Reserve, with decisions that have reshaped personal finance in America. Some savings accounts can now return meaningful interest for the first time in years. It has also led to a Wall Street reshuffling, and a wave of corporate bankruptcies as some bad bets turn sour. With these free money years coming to a close, we examine how the Fed's decision-making has affected the economy.

#cnbc #federalreserve #freemoney #news #breakingnews #money #wallstreet #businessnews #financialmarket #fed

The End Of Free Money At The Federal Reserve The U.S. is entering a new economic era. It began with an interest rate tightening cycle coming out of the Federal Reserve, with decisions that have reshaped personal finance in America. Some savings accounts can now return meaningful interest for the first time in years. It has also led to a Wall Street reshuffling, and a wave of corporate bankruptcies as some bad bets turn sour. With these free money years coming to a close, we examine how the Fed's decision-making has affected the economy. #cnbc #federalreserve #freemoney #news #breakingnews #money #wallstreet #businessnews #financialmarket #fed

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CNBC
2023-07-19 15:46:01 - Translate -

Why The U.S. Can’t Solve Hunger

33.8 million Americans didn’t have adequate access to food, according to the latest report from the USDA. That’s despite the fact that U.S. is one of the wealthiest nations in the world based on almost every metric. In response, spending on food assistance programs like SNAP has grown exponentially, reaching a record of $182.5 billion in 2021. But food insecurity has remained relatively the same as it was in 2001. So why are so many Americans still hungry and what can be done to solve it?

#CNBC #news #breakingnews #solvehunger #snap #usa #snap #usda #food #hunger #foodassistance #programs #foodinsecurity #wealthiestnation #access #feeding

Why The U.S. Can’t Solve Hunger 33.8 million Americans didn’t have adequate access to food, according to the latest report from the USDA. That’s despite the fact that U.S. is one of the wealthiest nations in the world based on almost every metric. In response, spending on food assistance programs like SNAP has grown exponentially, reaching a record of $182.5 billion in 2021. But food insecurity has remained relatively the same as it was in 2001. So why are so many Americans still hungry and what can be done to solve it? #CNBC #news #breakingnews #solvehunger #snap #usa #snap #usda #food #hunger #foodassistance #programs #foodinsecurity #wealthiestnation #access #feeding

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CNBC
2023-07-18 15:05:33 - Translate -

How Empty Offices Become Apartments In The U.S.

Some U.S. mayors are loosening up rules that determine how developers convert office buildings into apartment complexes. The conversion trend sped up in the 2020s, as the pandemic remote work boom reshaped cities. Declines in office activity are straining tax revenues for city services like education and transit, leading some local leaders to prioritize increased conversion of dated buildings. These rule changes may create some additional housing supply in regions like the U.S. east coast.

#CNBC #news #breakingnews #offices #apartments #emptyoffices #realestate #remotework #cities #office #developers #buildings #usa #mayors #city #gentrification

How Empty Offices Become Apartments In The U.S. Some U.S. mayors are loosening up rules that determine how developers convert office buildings into apartment complexes. The conversion trend sped up in the 2020s, as the pandemic remote work boom reshaped cities. Declines in office activity are straining tax revenues for city services like education and transit, leading some local leaders to prioritize increased conversion of dated buildings. These rule changes may create some additional housing supply in regions like the U.S. east coast. #CNBC #news #breakingnews #offices #apartments #emptyoffices #realestate #remotework #cities #office #developers #buildings #usa #mayors #city #gentrification

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CNBC
2023-06-30 14:41:22 - Translate -

Why #Marlboro Maker Altria Is Betting On Smoke-Free Products

Cigarettes were once prominently displayed in #Hollywood films and in glossy magazines. But decades of evidence that smoking kills has caused consumption to plummet. The tobacco industry sold less than 11 billion packs of cigarettes in the U.S. in 2020 down from more than 21 billion packs two decades earlier, according to the Centers for Disease Control and Prevention.

The number of smokers has dwindled as well. Almost 57% of American men smoked cigarettes in 1955, the #CDC says. Today just 11.5% of U.S. adults, or about 28 million Americans, are smokers.

That has caused an existential crisis for tobacco companies. Altria, the parent company of Philip Morris #USA and the nation's largest #tobacco company reported an almost 10% drop in cigarette sales in 2022 from the year prior. The maker of Marlboro’s says it wants to help #smokers transition away from cigarettes to what it calls “reduced harm alternatives” like e-cigarettes and heat-not-burn products. But Altria’s “Moving Beyond Smoking” campaign has raised eyebrows among its critics who claim the company is still hooked on cigarettes.

In 2022 cigarettes and cigars made up about 89% of the company's sales. Cigarette smoking is the leading cause of preventable death in the U.S. accounting for more than 480,000 deaths annually.

So are e-cigarettes and heat-not-burn products really less harmful than traditional cigarettes and what impact will those devices have on kids? Watch the video to learn more.

#cnbc #news #breakingnews #cigarettes #harmful #smokers #smoking

Why #Marlboro Maker Altria Is Betting On Smoke-Free Products Cigarettes were once prominently displayed in #Hollywood films and in glossy magazines. But decades of evidence that smoking kills has caused consumption to plummet. The tobacco industry sold less than 11 billion packs of cigarettes in the U.S. in 2020 down from more than 21 billion packs two decades earlier, according to the Centers for Disease Control and Prevention. The number of smokers has dwindled as well. Almost 57% of American men smoked cigarettes in 1955, the #CDC says. Today just 11.5% of U.S. adults, or about 28 million Americans, are smokers. That has caused an existential crisis for tobacco companies. Altria, the parent company of Philip Morris #USA and the nation's largest #tobacco company reported an almost 10% drop in cigarette sales in 2022 from the year prior. The maker of Marlboro’s says it wants to help #smokers transition away from cigarettes to what it calls “reduced harm alternatives” like e-cigarettes and heat-not-burn products. But Altria’s “Moving Beyond Smoking” campaign has raised eyebrows among its critics who claim the company is still hooked on cigarettes. In 2022 cigarettes and cigars made up about 89% of the company's sales. Cigarette smoking is the leading cause of preventable death in the U.S. accounting for more than 480,000 deaths annually. So are e-cigarettes and heat-not-burn products really less harmful than traditional cigarettes and what impact will those devices have on kids? Watch the video to learn more. #cnbc #news #breakingnews #cigarettes #harmful #smokers #smoking

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CNBC
2023-06-25 16:34:07 - Translate -

Who Makes Billions Paving America's Roads?

The asphalt and road paving industry has always been hugely dependent on federal money. In fact, about 50% of the funding to the industry comes from the U.S. government.

With the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Act, signed into law, $1.2 trillion will be invested. That is a 40% to 50% increase over the previous FAST Act. CRH, as the largest road paver in the U.S., is one of the biggest winners. In 2022, CRH made more than $32 billion; more than $20 billion of that came from its business in America. That number is about to increase substantially in the next few years.

But there are some strings attached. More money is going to projects that prove they are better for the environment. The industry has solutions to meet this challenge, such as recycled asphalt pavement and warm mix asphalt. But implementing them in the field poses challenges.

#cnbc #news #breakingnews #america #roads #paving #asphalt #infrastrusture #investment #bipartisan #fastact #crh #solutions #challenges

Who Makes Billions Paving America's Roads? The asphalt and road paving industry has always been hugely dependent on federal money. In fact, about 50% of the funding to the industry comes from the U.S. government. With the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Act, signed into law, $1.2 trillion will be invested. That is a 40% to 50% increase over the previous FAST Act. CRH, as the largest road paver in the U.S., is one of the biggest winners. In 2022, CRH made more than $32 billion; more than $20 billion of that came from its business in America. That number is about to increase substantially in the next few years. But there are some strings attached. More money is going to projects that prove they are better for the environment. The industry has solutions to meet this challenge, such as recycled asphalt pavement and warm mix asphalt. But implementing them in the field poses challenges. #cnbc #news #breakingnews #america #roads #paving #asphalt #infrastrusture #investment #bipartisan #fastact #crh #solutions #challenges

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CNBC
2023-06-22 17:03:19 - Translate -

How The U.S. Caught A Chinese Spy

CNBC’s Eamon Javers explores how U.S. companies are in the crosshairs of China’s economic espionage efforts, all while trying to do business in one of the world’s biggest markets. In this in-depth report, Javers examines the unprecedented case of Xu Yanjun, a spy from China who was convicted in U.S. federal court of trying to steal GE engine secrets, and what it reveals about China’s plans to take on Boeing, GE Aviation, Honeywell and the rest of America’s aerospace industry. Watch the video to find out how U.S. law enforcement caught a spy from China’s Ministry of State Security.

#cnbc #chinese #spy #ministry #economic #news #breakingnews #javers #usfederal #boeing #geaviation #honeywell #aerospace

How The U.S. Caught A Chinese Spy CNBC’s Eamon Javers explores how U.S. companies are in the crosshairs of China’s economic espionage efforts, all while trying to do business in one of the world’s biggest markets. In this in-depth report, Javers examines the unprecedented case of Xu Yanjun, a spy from China who was convicted in U.S. federal court of trying to steal GE engine secrets, and what it reveals about China’s plans to take on Boeing, GE Aviation, Honeywell and the rest of America’s aerospace industry. Watch the video to find out how U.S. law enforcement caught a spy from China’s Ministry of State Security. #cnbc #chinese #spy #ministry #economic #news #breakingnews #javers #usfederal #boeing #geaviation #honeywell #aerospace

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CNBC
2023-06-21 17:55:48 - Translate -

Can Burger King Make A Comeback?

In September 2022, Burger King owner Restaurant Brands International announced the chain’s $400 million Reclaim the Flame plan. Now the No. 3 burger chain behind #McDonald’s and #Wendy’s, Burger King is pouring $150 million into advertising and digital investments to “Fuel the Flame” and $250 million toward a “Royal Reset” involving restaurant #technology, equipment and #remodels, and relocations.

In connection with the big revamp, the company also hired two former #Domino’s executives: Tom Curtis, Burger King U.S. president, and #Patrick Doyle, executive chair of RBI. Wendy’s snatched the No. 2 spot from the chain in 2021 after years of declining sales due to complex menu items, outdated #restaurants and slow operations. BKI profits fell about 20% from 2019 through 2022. It remains to be seen if the overhaul will be enough to put the mother of the #Whopper back into the burger supremacy race.

#burgerking #cnbc #news #breakingnews #race #burgers

Can Burger King Make A Comeback? In September 2022, Burger King owner Restaurant Brands International announced the chain’s $400 million Reclaim the Flame plan. Now the No. 3 burger chain behind #McDonald’s and #Wendy’s, Burger King is pouring $150 million into advertising and digital investments to “Fuel the Flame” and $250 million toward a “Royal Reset” involving restaurant #technology, equipment and #remodels, and relocations. In connection with the big revamp, the company also hired two former #Domino’s executives: Tom Curtis, Burger King U.S. president, and #Patrick Doyle, executive chair of RBI. Wendy’s snatched the No. 2 spot from the chain in 2021 after years of declining sales due to complex menu items, outdated #restaurants and slow operations. BKI profits fell about 20% from 2019 through 2022. It remains to be seen if the overhaul will be enough to put the mother of the #Whopper back into the burger supremacy race. #burgerking #cnbc #news #breakingnews #race #burgers

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CNBC
2023-06-20 17:12:22 - Translate -

Why More And More Colleges Are Closing Down Across America

The mid-2010's saw an uptick in U.S. college closures—particularly in the private nonprofit space.
Since 2016, 91 U.S. private colleges have either closed, merged with another school, or announced plans to close according to a CNBC analysis of data from Higher Ed Dive. This trend is affecting tens of thousands of college students across the country, with almost half of those schools closing after the onset of the pandemic in 2020. For many struggling schools the pandemic was the final straw—but two major themes showed up consistently throughout the closures: finances and enrollment.

"There are two significant issues affecting higher education right now," said The Princeton Review's Editor-in-Chief Robert Franek. "Specifically, through the admission and enrollment offices. Number one, it is the admission cliff, and that is the impending decline. We'll be graduating our lowest high school classes by population in 2025. And most enrollment professionals have been wringing their hands about this date of 2025, but many schools have seen those enrollment declines already."
About 95% of U.S. colleges rely on tuition, according to Franek, meaning they rely on money from students to operate. Dwindling enrollment numbers mean less money, fewer student offerings, and eventually a shuttered institution.

"It's a reflection of, I think, an unsustainable operating platform, meaning a heavy reliance on tuition, which can't always keep up with inflation," said Fitch Ratings Senior Director Emily Wadhwani.

"It can't always keep up with erosion in enrollment. We can't keep hiking tuition sticker price in the hopes that the net residual once you account for scholarship and discounting and the like is gonna be enough to sort of offset your growing expense base."

#cnbc #closing #acrossamerica #erosion #hikingsticker #inthehopes #colleges #americaneducation #tuition

Why More And More Colleges Are Closing Down Across America The mid-2010's saw an uptick in U.S. college closures—particularly in the private nonprofit space. Since 2016, 91 U.S. private colleges have either closed, merged with another school, or announced plans to close according to a CNBC analysis of data from Higher Ed Dive. This trend is affecting tens of thousands of college students across the country, with almost half of those schools closing after the onset of the pandemic in 2020. For many struggling schools the pandemic was the final straw—but two major themes showed up consistently throughout the closures: finances and enrollment. "There are two significant issues affecting higher education right now," said The Princeton Review's Editor-in-Chief Robert Franek. "Specifically, through the admission and enrollment offices. Number one, it is the admission cliff, and that is the impending decline. We'll be graduating our lowest high school classes by population in 2025. And most enrollment professionals have been wringing their hands about this date of 2025, but many schools have seen those enrollment declines already." About 95% of U.S. colleges rely on tuition, according to Franek, meaning they rely on money from students to operate. Dwindling enrollment numbers mean less money, fewer student offerings, and eventually a shuttered institution. "It's a reflection of, I think, an unsustainable operating platform, meaning a heavy reliance on tuition, which can't always keep up with inflation," said Fitch Ratings Senior Director Emily Wadhwani. "It can't always keep up with erosion in enrollment. We can't keep hiking tuition sticker price in the hopes that the net residual once you account for scholarship and discounting and the like is gonna be enough to sort of offset your growing expense base." #cnbc #closing #acrossamerica #erosion #hikingsticker #inthehopes #colleges #americaneducation #tuition

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