Katy Punch has worked as a librarian in North Carolina for more than a decade — a stretch of time that makes her eligible to get her federal student debt excused under the Public Service Loan Forgiveness program. PSLF, which President George W. Bush signed into law in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 120 payments, or 10 years. However, recent changes to the student loan system have made it difficult, if not impossible, for public servants to access that relief.
CNBC
Broadcast Media Production and Distribution
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Welcome to CNBC's home on LinkedIn! Follow us for regular updates about financial news, top CNBC.com stories, behind-the-scenes moments and more. CNBC, Inc. provides business news in the United States and Canada. It provides real-time financial market coverage and business information. The company, through its Web site, cnbc.com, provides real-time market analysis; video programming daily; industry and topic-specific blogs; cnbc.com live stream, a long-form scheduled programming of events; charts; and investing tools. The company was founded in 1989 and is headquartered in Englewood Cliffs, New Jersey. CNBC, Inc. operates as a subsidiary of NBC Universal, Inc.
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http://www.cnbc.com
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Updates
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Geothermal energy has been used for thousands of years, powering heating systems as early as the 14th century. It's getting a big upgrade. Beyond geothermal, there's superhot geothermal, which uses ultra-deep drilling to access extremely hot rocks, extracting 5 to 10 times more power per well. Quaise Energy, a Massachusetts-based startup, is in the market developing the technology, which involves an electromagnetic beam that vaporizes rock. The company's systems are able to reach superhot geothermal energy up to 12 miles below the service of the earth.
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President Donald Trump said Wednesday that India will pay a tariff of 25% beginning Aug. 1, in addition to a “penalty” for what he views as unfair trade policies and for India’s purchase of military equipment and energy from Russia. The 25% tariff rate is modestly lower than what he imposed on India on “Liberation Day,” when he announced a 26% rate on the key trading partner. Read more: cnb.cx/3IQjOoN
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Microsoft is scheduled to report fiscal fourth-quarter results after markets close on Wednesday. Here's what analysts are expecting, according to LSEG consensus: The estimates imply around 14% year-over-year revenue growth for Microsoft, the world's No. 2 company by market cap. Revenue in the same period a year earlier came in at $64.73 billion.
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Wall Street is seeing early signs that Starbucks' turnaround is taking hold, despite a quarterly earnings miss and another quarter of shrinking same-store sales. "The focus for Starbucks' third fiscal quarter was less on the results (which were below Street expectations) and more on proof points on the pace of the potential recovery ahead," William Blair analyst Sharon Zackfia wrote in a note to clients Wednesday. The company reported weaker-than-expected earnings for its fiscal third quarter on Tuesday evening. Its same-store sales fell for the sixth straight quarter, but executives told analysts on the company's earnings call that traffic improved sequentially every month of the quarter.
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Singing witches and blue aliens are set to hit the big screen before the end of the year and bring in droves of moviegoers. Cinemark is preparing for the high demand by adding more unique premium screens to its U.S.- and Latin America-based locations. On Wednesday, the third-largest U.S. cinema chain announced it's adding 20 new ScreenX theaters to its portfolio, expanding its partnership with the South Korea-based CJ 4DPlex. Eighteen of those screens will be built in the U.S. The expansion marks ScreenX's first foray into Latin America.
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Meta CEO Mark Zuckerberg published a letter outlining his vision for "personal superintelligence" Wednesday, giving investors a glimpse into his artificial intelligence strategy ahead of Meta's second-quarter earnings report. The company has shelled out billions of dollars hiring top AI researchers and engineers in recent weeks, and Wall Street will be listening for what Zuckerberg has to say about the spending spree. Zuckerberg did not outline specific products or applications that Meta plans to build in his letter, but he said he views superintelligence as a tool for "personal empowerment" over automation and efficiency.
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Derrick Morgan Jr. wants enough money to retire by 45 — and he's saving more than $12,000 a month to make it happen. The 34-year-old trademark attorney runs his own law firm helping entrepreneurs register and protect their brands — a practice he built after offering his services on Fiverr during the Covid-19 pandemic. What began as a solo side hustle is now a nearly $500,000-a-year business that Morgan runs with help from a paralegal and an AI assistant. But he isn't taking the company's success for granted, which is why he puts roughly 40% of his $350,000 income into investments to achieve his goal of early retirement.
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CNBC reposted this
Entrepreneur and Flamingo Estate Founder Richard Christiansen went from pandemic vegetable farmer to one of the most sought-after luxury produce, fragrance, and seasonal pantry goods suppliers around. What did he do to make the jump? From regenerative farm partnerships to retail pop-ups and celebrity collaborations, he'll speak with Julia Boorstin at the CNBC Small Business Playbook to discuss how he went from grassroots to owning a multi-million-dollar business and how you can too. Join us to hear from him ⬇️ REGISTER FOR THE FREE, VIRTUAL EVENT HERE: https://bit.ly/4eh5cKx #CNBCSmallBiz #smallbusiness #farming #luxurygoods #entrepreneurship
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Starbucks reported its sixth straight quarter of same-store sales declines as the company implements a turnaround strategy. CEO Brian Niccol said in a statement that the company’s comeback is ahead of schedule, based on his past experience, which includes turning around Chipotle Mexican Grill after a series of food-safety scandals. Read more: cnb.cx/45ax7b7