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Trump administration exploring $30 billion civilian nuclear deal for Iran

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an hour ago

Business
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Trump administration exploring $30 billion civilian nuclear deal for Iran

The Trump administration in recent days has explored possible economic incentives for Iran in return for the regime halting uranium enrichment, including releasing billions of dollars in frozen Iranian assets, according to three sources familiar with the discussions. The tentative proposal would also allow Iran to receive assistance from regional countries to enable Tehran to build a civilian nuclear program, granting Tehran access to as much as $30 billion. The proposal is one of many ideas under consideration by the administration, the sources said. The details of the administration's discussions were first reported by CNN. The potential deal would mark a major reversal in policy for President Trump, who pulled the U.S. out of the Obama administration's nuclear deal with Iran in 2018 arguing in part that the sanctions relief and unfreezing of Iranian assets had provided a "lifeline of cash" to the Iranian regime to continue its malign activities. Still, it is not immediately clear if the financial proposal or any negotiations between the U.S. and Iran will move forward. In a Truth Social post Friday night, Trump said he "never heard of this ridiculous idea," adding that it was "just another HOAX put out by the Fake News." Earlier Friday, Trump threatened to drop any possible sanctions relief for Iran after Supreme Leader Ayatollah Ali Khamenei declared victory in the war against Israel and downplayed the significance of U.S. attacks on their nuclear sites. "Why would the so-called 'Supreme Leader,' Ayatollah Ali Khamenei, of the war torn Country of Iran, say so blatantly and foolishly that he won the War with Israel, when he knows his statement is a lie?" Trump wrote in a lengthy post on Truth Social, adding. "During the last few days, I was working on the possible removal of sanctions, and other things, which would have given a much better chance to Iran at a full, fast, and complete recovery — The sanctions are BITING! But no, instead I get hit with a statement of anger, hatred, and disgust." In a pre-recorded speech on Iranian state TV on Thursday, Khamenei said: "The Islamic Republic was victorious and, in retaliation, delivered a hand slap to America's face." He added: "This action can be repeated in the future." But later on Friday, Trump insisted the Iranians still wanted to meet with him to discuss possible sanctions relief. "They do want to meet me, and we'll do that quickly. We're going to do it quickly," Trump told reporters during a White House meeting with the foreign ministers of the Democratic Republic of the Congo and the Republic of Rwanda. "Don't you think we have sanctions on there that they can't do anything? Wouldn't you think that they want to meet me? I mean, they're not stupid people."

Gen Alpha are spending big — here's 2 tips to raise money savvy kids in a world of instant gratification

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2 hours ago

Business
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Gen Alpha are spending big — here's 2 tips to raise money savvy kids in a world of instant gratification

In the age of instant gratification where Gen Alpha has easy access to instant delivery services like Amazon Prime and Uber Eats, some parents are wondering how to teach the young money-saving skills. Born between 2010 and 2024, Gen Alpha are not like other generations. They grew up with smartphones in their hands and the ability to make purchases at the click of a button. In fact, their spending prowess is huge. Gen Alpha spent £92 million ( $126.2 million) between 2023 and 2024, according to research from financial technology company GoHenry, which provides debit cards for kids in the U.K., U.S., France, and Spain. GoHenry published its Youth Economy Report in September 2024, which provided data from 311,832 GoHenry kids. Much of this money is going to online services, with GoHenry kids spending over £3 million on food delivery services, up 113% from the year before. Additionally, almost half like to make purchases on social media platforms like TikTok Shop, Facebook Marketplace and Instagram. Their economic footprint is expected to reach $5.46 trillion by 2029, according to research firm McCrindle. "Convenience and speed have become the norm," Louise Hill, GoHenry founder, told CNBC Make It in an interview. "One of the things we need to remember when we're thinking about Gen Alpha in particular, is that they are totally used to everything being available at the flick of a switch, at the click of a button, and this drives different behaviors with money." Hill explained that despite the influx of financial education resources online, there has also been a surge in money products and apps that are easy to use, such as credit cards, buy-now-pay-later options, and contactless payments. This makes it more complex for parents to navigate teaching money skills to kids. She emphasized the importance of kids understanding "that money has to be earned before it can be spent," and then spending it with thought and consideration. Hill said it's crucial for children to see the "tangible aspects of money" like physical cash, to understand its value. Giving "regular pocket money" is one solution, from giving 50 pence a week to £5 pounds. "If you give a child 50 pence and pick a day of the week that works for you as a family for pocket money, that might be Saturday, then you can literally give them 50 pence every Saturday. It is incredible how quickly they will start to realize 'Oh, look, it's every Saturday. If I save up four Saturdays, I've got two pounds. And now I can buy X, Y, Z, if I save up 10 Saturdays." Handling physical cash allows kids to know how much their favorite items cost. "You can give a child some coins, and then they can have the concept of how many of those coins get exchanged for a bag of sweets, versus a bigger toy," the GoHenry founder said. For teenagers, Hill proposed the method of "pizza budgeting," which allows children to visually understand how much money goes into running a household and paying bills. "The pizza is your pot of money, or your wages, or your pocket money and then taking the child through, 'Would you like to guess how big a slice of pizza we need to cut out if this is the household wages? How big a slice we need to cut out of that to pay the rent or to pay the mortgage?" As the pizza gets smaller and smaller, it creates an understanding of how much money is left over for leisure spending. Kids are like sponges and tend to absorb attitudes around money from their parents, so Hill believes it's good to keep them in the loop about household finances. She offered the example of the cost of living crisis in the U.K. after the Covid-19 pandemic, which was cited widely in the media. GoHenry started hearing from customers that their kids were concerned about the cost-of-living crisis. "Kids do soak up everything in that sort of situation where perhaps as a family, you're stressed about money," she said. Parents can talk about money struggles without raising the exact issue, such as if they're unable to pay the rent. For example, Hill said that if you can no longer afford to have a takeaway every Friday night, then get children involved in making a "fakeaway," which means making a takeaway at home. "What about getting the kids involved in making a pizza and choosing their toppings? Maybe even going to the supermarket with you and picking up those toppings instead of paying the money for a takeaway and then showing them how much money is being saved," Hill added. This can help children feel more in control of their money spending habits, and learn to tighten their belts when they need to as they get older.

North American airlines targeted by cyberattacks

CNBC

6 hours ago

Business
CNBC

North American airlines targeted by cyberattacks

At least two North American airlines have been victims of criminal hackers recently as cybersecurity companies warn that a notorious cybercriminal group has been targeting the aviation industry. Westjet and Hawaii Airlines both said in June statements that they are responding to cyberattacks. American Airlines also experienced a tech issue on Friday, though it's unclear if it was related or caused in any way by hackers. "A technology issue is affecting connectivity for some of our systems and we are working with our partners to fully resolve the issue," an American Airlines spokesperson said in a statement. "Though we are experiencing delays as a result, we have not canceled any flights at this time." Cybersecurity companies that work directly with companies hit by hackers usually refrain from talking about specific victims, citing nondisclosure agreements. But both Google and Palo Alto Networks said Friday that they have observed a particularly effective cybercriminal group, nicknamed Scattered Spider by the cybersecurity industry, that tries to hack companies involved in aviation. Scattered Spider is a loosely affiliated group of young, mostly English-speaking men who are extremely adept at sweet-talking their way into sensitive computer access at large companies. From there, they often hand that access to outside cybercriminals who install ransomware — malicious software that locks up computers, rendering them inoperable — and then demand an extortion payment. The group has been tied to attacks on Las Vegas casinos in 2023 and British department stores earlier this year. After Google warned that Scattered Spider was targeting American retailers, a cyberattack hobbled a top Whole Foods supplier, leading to empty shelves across the country. Charles Carmakal, the chief technology officer of Mandiant, Google's cloud security company, said in an emailed statement that it was tracking "multiple incidents in the airline and transportation sector" where Scattered Spider had broken in. "We are still working on attribution and analysis, but given the habit of this actor to focus on a single sector we suggest that the industry take steps immediately to harden systems," he said. Details on the effects of the attacks on airlines are still sparse. A WestJet spokesperson told NBC News in an email that the company first noticed it had been hacked on June 13 and has made "significant progress" to resolve it. Hawaiian Airlines said in a Friday filing with the Securities and Exchange Commission that it discovered on Monday that it had been hacked and that "Flights are currently operating safely and as scheduled." Neither company responded to questions about whether any flights had been canceled or delayed because of the attacks.