diff --git "a/news_db/merged_news_data_2024-06-17.csv" "b/news_db/merged_news_data_2024-06-17.csv" deleted file mode 100644--- "a/news_db/merged_news_data_2024-06-17.csv" +++ /dev/null @@ -1,7717 +0,0 @@ -title,url,timestamp,content,source,clean_date,clean_content,arti_score,pos_sent,neg_sent,rnn_arti_score,rnn_pos_sent,rnn_neg_sent,date_extracted -"Affirm buy now, pay later loans will be embedded into Apple Pay later this year",https://www.cnbc.com/2024/06/11/apple-pay-affirm-buy-now-pay-later-loans.html,2024-06-11T21:30:25+0000,"In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in its own update.""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.The move is a boost to Affirm and the buy now, pay later sector in general. When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm. But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more. The companies didn't provide details on the terms of the new loans.""The bottom-line — in our view — is that Affirm's strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers. Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email. Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",CNBC,11/06/2024,"['In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.', 'Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing.', 'Apple confirmed the news in its own update.', '""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.', 'The move is a boost to Affirm and the buy now, pay later sector in general.', 'When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm.', 'But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.', ""For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more."", ""The companies didn't provide details on the terms of the new loans."", '""The bottom-line — in our view — is that Affirm\'s strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.', 'Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.', 'Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""', 'This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony\'s chief growth officer, said in an email.', 'Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.', ""Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue."", '""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.']",0.3099241024494723,"This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",0.4899860024452209,"Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",2024-06-17 -"FDA advisors recommend Eli Lilly's Alzheimer's drug donanemab, paving way for approval",https://www.cnbc.com/2024/06/10/fda-advisors-recommend-eli-lilly-alzheimers-drug-donanemab.html,2024-06-10T21:08:08+0000,"In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year.The FDA typically follows the recommendations of its advisory panels but is not required to do so. If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai.An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease. But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks. ""There's a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday. Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.Eli Lilly is ""pleased"" with the panel's recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.The recommendation follows snags Eli Lilly faced in bringing the treatment to market.The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment.It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year. The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it. The FDA appears to be reviewing donanemab more cautiously after its polarizing approval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai. The agency granted accelerated approval to that treatment despite a negative recommendation from an advisory panel.Biogen and Eisai have since dropped the drug. Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it. But neither of the treatments are cures.Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal. Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug. Biogen and Eisai signaled in April that they are seeing adoption pick up.In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins. That is a method known as intravenous infusion. Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted. He expects donanemab to rake in $500 million in sales by the end of the decade. Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia.Those results are comparable to those seen with Leqembi. Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity. People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study. Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau.Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau. The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug's effect. Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold. By the end of the trial, 60% of participants on donanemab were able to stop treatment.Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding. The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms. They included headache, confusion, dizziness, nausea and in rare cases, seizures.Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.If donanemab is approved, FDA staff said they expect the drug's label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4. They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.That is consistent with Leqembi's approval label.There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff. That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.",CNBC,10/06/2024,"[""In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year."", 'The FDA typically follows the recommendations of its advisory panels but is not required to do so.', ""If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai."", ""An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease."", 'But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.', ""In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks."", '""There\'s a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday.', 'Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.', 'Eli Lilly is ""pleased"" with the panel\'s recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.', 'The recommendation follows snags Eli Lilly faced in bringing the treatment to market.', ""The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment."", 'It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.', 'The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it.', ""The FDA appears to be reviewing donanemab more cautiously after its polarizingapproval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai."", 'The agencygrantedaccelerated approvaltothat treatment despite a negative recommendation from an advisory panel.', 'Biogen and Eisai have since dropped the drug.', ""Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease."", ""Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it."", 'But neither of the treatments are cures.', 'Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal.', ""Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug."", 'Biogen and Eisai signaled in April that they are seeing adoption pick up.', 'In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly\'s drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.', 'That is a method known as intravenous infusion.', 'Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted.', 'He expects donanemab to rake in $500 million in sales by the end of the decade.', ""Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia."", 'Those results are comparable to those seen with Leqembi.', ""Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity."", 'People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study.', ""Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau."", 'Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau.', 'The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug\'s effect.', 'Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.', '""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.', ""Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold."", 'By the end of the trial, 60% of participants on donanemab were able to stop treatment.', 'Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.', 'Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding.', 'The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms.', 'They included headache, confusion, dizziness, nausea and in rare cases, seizures.', 'Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.', 'If donanemab is approved, FDA staff said they expect the drug\'s label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4.', 'They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.', ""That is consistent with Leqembi's approval label."", ""There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff."", ""That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.""]",0.0600911008433513,"It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.",Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease.,0.2095230562346322,Biogen and Eisai signaled in April that they are seeing adoption pick up.,"In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.",2024-06-17 -"National Amusements stops discussions with Skydance on Paramount deal, sources say",https://www.cnbc.com/2024/06/11/national-amusements-stops-discussions-with-skydance-on-paramount-deal-sources-say.html,2024-06-12T00:42:45+0000,"In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction. National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR. The deal had been awaiting signoff from Redstone, CNBC previously reported. National Amusements, which Redstone controls, owns 77% of class A Paramount shares.Paramount shares closed nearly 8% lower Tuesday following the report.National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.Redstone's company said it ""supports the recently announced strategic plan being executed by Paramount's Office of the CEO as well as their ongoing work and that of the Company's Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.""Paramount declined to comment. Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.The Wall Street Journal earlier reported talks had ended.""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns.Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter. The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking. The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter. A spokesperson for Phillips declined to comment. The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media. At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction. The Special Committee did not vote on any potential transaction.""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount's annual shareholder meeting, where the company's leadership outlined plans for the future.Last week, Paramount's current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company's strategic priorities in the event the company was not sold.The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets. The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell.While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support. She has approved of their ideas and leadership during their short tenure, CNBC previously reported.Redstone has controlled the future of Paramount and whether a sale would take place. She can now consider other offers for National Amusements from outside buyers. In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported. However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported. Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company. Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt.The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year. Paramount had roughly $14.6 billion in long-term debt as of March 31.",CNBC,12/06/2024,"['In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction.', ""National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR."", 'The deal had been awaiting signoff from Redstone, CNBC previously reported.', 'National Amusements, which Redstone controls, owns 77% of class A Paramount shares.', 'Paramount shares closed nearly 8% lower Tuesday following the report.', 'National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.', 'Redstone\'s company said it ""supports the recently announced strategic plan being executed by Paramount\'s Office of the CEO as well as their ongoing work and that of the Company\'s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.', '""Paramount declined to comment.', 'Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.', 'The Wall Street Journal earlier reported talks had ended.', '""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.', ""There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns."", 'Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter.', ""The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking."", ""The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter."", 'A spokesperson for Phillips declined to comment.', 'The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media.', ""At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction."", 'The Special Committee did not vote on any potential transaction.', '""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount\'s annual shareholder meeting, where the company\'s leadership outlined plans for the future.', 'Last week, Paramount\'s current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company\'s strategic priorities in the event the company was not sold.', 'The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.', 'The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets.', ""The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell."", 'While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support.', 'She has approved of their ideas and leadership during their short tenure, CNBC previously reported.', 'Redstone has controlled the future of Paramount and whether a sale would take place.', 'She can now consider other offers for National Amusements from outside buyers.', 'In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported.', 'However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.', 'Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported.', 'Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', ""Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt."", ""The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year."", 'Paramount had roughly $14.6 billion in long-term debt as of March 31.']",0.2387817313043969,"National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.","The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",0.1864744484424591,The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year.,"The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",2024-06-17 -Steps you can take now to avoid college sticker shock,https://edition.cnn.com/2024/06/17/success/how-to-find-good-affordable-colleges/index.html," - Published - 6:00 AM EDT, Mon June 17, 2024 - ","Long before you take your high schooler on college campus tours, consider this: Shopping for college shouldn’t be any different than shopping for a home. When you want to buy a home, you come up with a range of how much you can afford and get pre-qualified for a mortgage. Then you look in neighborhoods that offer homes that meet your family’s needs and fall within your price range. - - “Adopt a mindset that we’re buying college like we’re buying a house,” said Beth Walker, author of “Buying College Better” and “Never Pay Retail for College.” - - As a financial adviser and certified college planning specialist, Walker tries to help families avoid a situation that many find themselves in at the 11th hour: Their child applies — and gets into — schools they cannot afford because the schools won’t give them enough aid. And then they just … try to make it work, no matter how much debt is involved for the parents or the student. - - Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation. And second, she recommends assessing how a child’s talents and interests pare with majors and careers they might want to pursue. Doing both those things can help you target the right colleges to apply to. - - Mike McKinnon, executive director of the National Institute of Certified College Planners, defines the perfect college as one “where a student can go be happy, safe and successful, graduate in four years or less with a marketable degree and little or no debt.” - - In helping families align parents’ affordability constraints with their student’s academic and social needs, he cautions them not to automatically assume the Ivys or other high-prestige schools will be best simply because of their status. And he stresses what success in life looks like after college and notes that an Ivy League degree isn’t the only path to achieving it, especially if your child won’t get much aid to attend. - - In fact, said Todd Fothergill, founder and CEO of Strategies for College, a lot of brand-name schools don’t even offer merit-based aid, only need-based. So if you’re not rich, but you make too much to qualify for need-based aid, you could find yourself having to cover the entire cost of tuition, room and board every year, which is pushing $90,000 at some US colleges. - - Fothergill created a free calculator called CostHero that lets parents assess what financial resources they will have available to pay for a child’s college education. It then provides a range of affordability: At the low end is the number representing what they can pay if they don’t take on debt. And at the high end is the number they can pay if they also take out an unsubsidized federal Parent Loan for Undergraduate Students (PLUS). - - “If you’re not in a position to write a check for $90,000 a year, put up guardrails for yourself so you don’t blow up your retirement,” he said. - - The calculator inputs let you set the amount of resources you’re willing to use to pay for college from your income and savings, your child’s earnings from summer jobs, any family gifts, and any federal Stafford loans your child may take. It also factors in if you qualify for the federal American Opportunity Tax Credit. That credit, for qualified educational expenses, will reduce your tax bill or increase any refund you have coming. - - The calculator also gives you a debt-to-income score like the kind a mortgage lender might use to assess whether you’re a good credit risk. Ideally, he said, you don’t want your housing costs to exceed 36% of your gross income and your total debt — including debt from housing, cars, credit cards and any parental education loans — to exceed 43%. - - If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said. - - “If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.  For example, if one knows that the range of affordability is between $30,000 [a year] with no parent debt and $50,000 with parent debt, then any college that comes in with a net cost in that range is, by definition, affordable,” Fothergill said. - - Net cost refers to the true cost of attendance after figuring out how much aid your child may get (e.g., grants and scholarships). - - Generally speaking, the biggest tuition discounts go to the most academically accomplished students in an incoming class. “The student needs to be in the top 25% of those admitted,” Walker said. - - Getting into that top 25% cohort is based on SAT or ACT scores, and having a high, unweighted GPA based on a rigorous high school curriculum. The curriculum’s academic rigor can be further bolstered by taking AP courses. - - Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid. Otherwise, you‘ll spend money to apply to guidance-counselor-recommended “safety” schools or “reach” schools with no sense if those places are affordable to you should your child get in. - - Using reported data from admissions officers about their key criteria in admitting an incoming class and based on what more than 1,000 schools report about the qualifications they used to grant aid, Fothergill created another tool called ListHero. It gives students a score that helps gauge how competitive their profile is at a given school, relative to others admitted, and by extension their eligibility for tuition discounts. Right now the tool is only available to college planning professionals for a fee. But Fothergill plans to create a free mini-version for consumers to use. - - For parents doing their own research on test scores, GPA requirements, costs and aid, he recommends checking the Department of Education College Scorecard, the site CollegeData.com and the College Board. - - While your children are in high school they can take other steps to reduce the total cost of their education. - - One way is by doing well on the PSAT to qualify to compete for a National Merit Scholarship. - - Another is to take AP courses. If their high school doesn’t offer them, there is a program called Freshman Year for Free offered by the Modern States Education Alliance. It provides free AP placement courses and pays the fee for students to take the AP tests or college-level preparation (CLEP) tests administered through the College Board. - - Getting the minimum AP scores a college requires to earn a college credit will lower how much you ultimately have to spend on tuition. - - A third option is to see if your state has a program that offers a year of free in-state community college, the credits from which can be transferred to a state university from which your child could earn their degree. Or, if you plan to go to any other college, make sure the school will accept the credits from a community college course you plan to take. - - No matter what steps you take, starting the research and budgeting process early can save everyone a lot of stress, debt and potential heartache in the end. Said Walker: “We have to be a lot more intentional about this purchase.”",CNN,17/06/2024,"['Long before you take your high schooler on college campus tours, consider this: Shopping for college shouldn’t be any different than shopping for a home.', 'When you want to buy a home, you come up with a range of how much you can afford and get pre-qualified for a mortgage.', 'Then you look in neighborhoods that offer homes that meet your family’s needs and fall within your price range.', '“Adopt a mindset that we’re buying college like we’re buying a house,” said Beth Walker, author of “Buying College Better” and “Never Pay Retail for College.”', 'As a financial adviser and certifiedcollege planning specialist, Walker tries to help families avoid a situation that many find themselves in at the 11th hour: Their child applies — and gets into — schools they cannot afford because the schools won’t give them enough aid.', 'And then they just … try to make it work, no matter how much debt is involved for the parents or the student.', 'Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation.', 'And second, she recommends assessing how a child’s talents and interests pare with majors and careers they might want to pursue.', 'Doing both those things can help you target the right colleges to apply to.', 'Mike McKinnon, executive director of the National Institute of Certified College Planners, defines the perfect college as one “where a student can go be happy, safe and successful, graduate in four years or less with a marketable degree and little or no debt.”', 'In helping families align parents’ affordability constraints with their student’s academic and social needs, he cautions them not to automatically assume the Ivys or other high-prestige schools will be best simply because of their status.', 'And he stresses what success in life looks like after college and notes that an Ivy League degree isn’t the only path to achieving it, especially if your child won’t get much aid to attend.', 'In fact, said Todd Fothergill, founder and CEO of Strategies for College, a lot of brand-name schools don’t even offer merit-based aid, only need-based.', 'So if you’re not rich, but you make too much to qualify for need-based aid, you could find yourself having to cover the entire cost of tuition, room and board every year, which is pushing $90,000 at some US colleges.', 'Fothergill created a free calculator called CostHero that lets parents assess what financial resources they will have available to pay for a child’s college education.', 'It then provides a range of affordability: At the low end is the number representing what they can pay if they don’t take on debt.', 'And at the high end is the number they can pay if they also take out an unsubsidized federal Parent Loan for Undergraduate Students (PLUS).', '“If you’re not in a position to write a check for $90,000 a year, put up guardrails for yourself so you don’t blow up your retirement,” he said.', 'The calculator inputs let you set the amount of resources you’re willing to use to pay for college from your income and savings, your child’s earnings from summer jobs, any family gifts, and any federal Stafford loans your child may take.', 'It also factors in if you qualify for the federal American Opportunity Tax Credit.', 'That credit, for qualified educational expenses, will reduce your tax bill or increase any refund you have coming.', 'The calculator also gives you a debt-to-income score like the kind a mortgage lender might use to assess whether you’re a good credit risk.', 'Ideally, he said, you don’t want your housing costs to exceed 36% of your gross income and your total debt — including debt from housing, cars, credit cards and any parental education loans — to exceed 43%.', 'If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said.', '“If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.', 'For example, if one knows that the range of affordability is between $30,000 [a year] with no parent debt and $50,000 with parent debt, then any college that comes in with a net cost in that range is, by definition, affordable,” Fothergill said.', 'Net cost refers to the true cost of attendance after figuring out how much aid your child may get (e.g., grants and scholarships).', 'Generally speaking, the biggest tuition discounts go to the most academically accomplished students in an incoming class. “', 'The student needs to be in the top 25% of those admitted,” Walker said.', 'Getting into that top 25% cohort is based on SAT or ACT scores, and having a high, unweighted GPA based on a rigorous high school curriculum.', 'The curriculum’s academic rigor can be further bolstered by taking AP courses.', 'Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid.', 'Otherwise, you‘ll spend money to apply to guidance-counselor-recommended “safety” schools or “reach” schools with no sense if those places are affordable to you should your child get in.', 'Using reported data from admissions officers about their key criteria in admitting an incoming class and based on what more than 1,000 schools report about the qualifications they used to grant aid, Fothergill created another tool called ListHero.', 'It gives students a score that helps gaugehow competitive their profile isat a given school, relative to others admitted, and by extension their eligibility for tuition discounts.', 'Right now the tool is only available to college planning professionals for a fee.', 'But Fothergill plans to create a free mini-version for consumers to use.', 'For parents doing their own research on test scores, GPA requirements, costs and aid, he recommends checking the Department of Education College Scorecard, the site CollegeData.com and the College Board.', 'While your children are in high school they can take other steps to reduce the total cost of their education.', 'One way is by doing well on the PSAT to qualify to compete for a National Merit Scholarship.', 'Another is to take AP courses.', 'If their high school doesn’t offer them, there is a program called Freshman Year for Free offered by the Modern States Education Alliance.', 'It provides free AP placement courses and pays the fee for students to take the AP tests or college-level preparation (CLEP) tests administered through the College Board.', 'Getting the minimum AP scores a college requires to earn a college credit will lower how much you ultimately have to spend on tuition.', 'A third option is to see if your state has a program that offers a year of free in-state community college, the credits from which can be transferred to a state university from which your child could earn their degree.', 'Or, if you plan to go to any other college, make sure the school will accept the credits from a community college course you plan to take.', 'No matter what steps you take, starting the research and budgeting process early can save everyone a lot of stress, debt and potential heartache in the end.', 'Said Walker: “We have to be a lot more intentional about this purchase.”']",0.2311100222180991,"Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid.","Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation.",0.7111026823520661,"“If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.","If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said.",2024-06-17 -Here's what's next for Paramount after Skydance deal is stopped in its tracks,https://www.cnbc.com/2024/06/12/paramount-skydance-deal-ends-what-happens-next.html,2024-06-13T11:46:33+0000,"In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry.Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward.Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins. The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.""It's very difficult for a trio of CEOs to work on a long term basis. It's almost unheard of. How will they make decisions on allocating capital and strategic priorities?"" said Jessica Reif-Ehrlich, an analyst at BofA Securities.On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward.""So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process.The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement."" National Amusements also voiced its support for Paramount's current leadership.While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.In recent days, other potential bidders for National Amusements emerged, according to reports. Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved.""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday's memo to employees. ""And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.""Though the company reached financial terms on the proposed deal with Skydance, Paramount's new leadership team outlined a plan at last week's shareholder meeting in the event a transaction didn't take place.The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.The memo noted more would be discussed at a company town hall June 25. The leaders are also expected to flesh out more details of the plan during August's earnings call.The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year. Paramount has $14.6 billion in debt.In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan.""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation.In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""But this is a very difficult situation. Uncertainty is the worst thing.""Whether it's these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year. A weak advertising market could also weigh on the company in the coming months.",CNBC,13/06/2024,"[""In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry."", 'Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.', ""Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward."", 'Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins.', 'The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.', '""It\'s very difficult for a trio of CEOs to work on a long term basis.', ""It's almost unheard of."", 'How will they make decisions on allocating capital and strategic priorities?""', 'said Jessica Reif-Ehrlich, an analyst at BofA Securities.', ""On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward."", '""So, what does this mean for Paramount?', 'While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.', ""After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process."", 'The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.', 'The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.', 'In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement.""', ""National Amusements also voiced its support for Paramount's current leadership."", 'While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.', 'In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', 'In recent days, other potential bidders for National Amusements emerged, according to reports.', 'Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.', 'While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.', ""Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved."", '""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday\'s memo to employees. ""', 'And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.', '""Though the company reached financial terms on the proposed deal with Skydance, Paramount\'s new leadership team outlined a plan at last week\'s shareholder meeting in the event a transaction didn\'t take place.', 'The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.', 'The memo noted more would be discussed at a company town hall June 25.', ""The leaders are also expected to flesh out more details of the plan during August's earnings call."", ""The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year."", 'Paramount has $14.6 billion in debt.', ""In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan."", '""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.', ""Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation."", ""In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations."", 'But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.', '""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""', 'But this is a very difficult situation.', 'Uncertainty is the worst thing.', '""Whether it\'s these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.', ""Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year."", 'A weak advertising market could also weigh on the company in the coming months.']",0.1552936129402598,"""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. """,Uncertainty is the worst thing.,0.0349052796761194,"In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.",A weak advertising market could also weigh on the company in the coming months.,2024-06-17 -Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties,https://www.cnbc.com/2024/06/12/robotics-startup-synapse-ceo-exaggerated-gm-claims.html,2024-06-13T19:13:42+0000,"In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC. The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""Our team is in their Mexico factory this week to start the collection process. We would probably be the only company in this space with a dataset like this.""But, according to GM and one of the startup's founders, most of Foundation's claims related to the automaker are exaggerated or untrue.While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman.""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.""In a phone interview with CNBC, one of Foundation's cofounders, Mike LeBlanc, confirmed GM's points and said he was embarrassed that marketing materials existed that overstated their relationship.""The engineering stuff we've done is really incredible, and it's the bedrock of what this company will be,"" LeBlanc said. ""That, to me is what Foundation Robotics is.""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company's fundraising pitch.It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients. The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment.The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks.Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform. Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings.Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.",CNBC,13/06/2024,"['In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.', 'The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC.', 'The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.', '""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.', ""On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots."", '""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""', 'Our team is in their Mexico factory this week to start the collection process.', 'We would probably be the only company in this space with a dataset like this.', '""But, according to GM and one of the startup\'s founders, most of Foundation\'s claims related to the automaker are exaggerated or untrue.', ""While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman."", '""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""', 'In fact, GM has never had an agreement of any kind with the company.', 'Any claims to the contrary are fabricated.', '""In a phone interview with CNBC, one of Foundation\'s cofounders, Mike LeBlanc, confirmed GM\'s points and said he was embarrassed that marketing materials existed that overstated their relationship.', '""The engineering stuff we\'ve done is really incredible, and it\'s the bedrock of what this company will be,"" LeBlanc said. ""', 'That, to me is what Foundation Robotics is.', '""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company\'s fundraising pitch.', ""It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey."", 'The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients.', 'The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.', ""Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment."", ""The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks."", 'Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform.', 'Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.', ""The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings."", 'Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.', ""Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.""]",-0.0501589084925131,"On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.",In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.,-0.5666174769401551,"It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.","Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.",2024-06-17 -UAW president under investigation by federal monitor,https://www.cnbc.com/2024/06/10/uaw-president-shawn-fain-federal-monitor-investigation.html,2024-06-11T00:54:50+0000,"DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents.The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they'll find: a UAW leadership committed to serving the membership, and running a democratic union. We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.""The union is in the middle of a national organizing drive of nonunion automakers. The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.The court filing, which was first reported by The Detroit News, says Barofsky's concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union's Regional Directors.""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.""The filing states more than three months after the monitor's initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.""The monitor believes the ""union's delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges. It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.",CNBC,11/06/2024,"['DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.', 'The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president.', 'He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.', 'Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.', '""The Monitor has attempted for months to garner the Union\'s cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor\'s access to requested documents,"" the court filing reads.', ""More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents."", 'The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.', 'Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.', '""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they\'ll find: a UAW leadership committed to serving the membership, and running a democratic union.', ""We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job."", '""The union is in the middle of a national organizing drive of nonunion automakers.', ""The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis."", 'The court filing, which was first reported by The Detroit News, says Barofsky\'s concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union\'s Regional Directors.', '""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.', 'In response, the filing says Mock ""lodged allegations of her own against the Union\'s President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.', '""The filing states more than three months after the monitor\'s initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.', '""The monitor believes the ""union\'s delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.', 'The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges.', 'It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.']",0.0562732771542696,"We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.","In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.",-0.0189127666609627,"The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.","""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.",2024-06-17 -"Bezos' Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program",https://www.cnbc.com/2024/06/13/pentagon-picks-blue-origin-spacex-ula-in-5point6-billion-rocket-program.html,2024-06-14T11:37:37+0000,"In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time.Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts. Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.Space Force outlined a ""mutual fund"" strategy to buying launches from companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",CNBC,14/06/2024,"[""In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time."", ""Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program."", ""Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program."", 'Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.', 'Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts.', 'Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.', 'Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that']",0.2602735573621667,Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.,"Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",0.8293253978093466,"Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.",,2024-06-17 -Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?,https://edition.cnn.com/2024/06/15/business/why-do-small-trader-joes-bags-keep-going-viral/index.html," - Published - 3:00 AM EDT, Sat June 15, 2024 - ","A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag. Right away, he was on the lookout. When he went to London on a trip, he even deputized his mom to keep an eye out for the bags. - - After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding. Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack). Others may not be so lucky. The mini-coolers have already been listed for several times that price on eBay. - - Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral. They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire. - - Before social media, it took a lot more for a niche item to hit. “You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school. But now “you can have it all happen instantly across the whole country.” - - This isn’t even the first time little Trader Joe’s bags have gone viral. In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out. - - Most brands don’t see their products take off this way, especially not twice in a row. On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun. - - But Trader Joe doesn’t have much of a social media presence. The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items — which may well have been popular on their own — even more successful. These creators are playing a key role in the worlds of retail marketing. - - Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative. Her channels are popular enough for her to earn payment from TikTok. - - She’s not the only one posting this type of content. Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores. It had more than 54,000 followers on the social platform on Friday. Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings. - - Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity. - - “What is up with these tote bags? Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said. - - “We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “We had no inkling that they would be this exciting, this quickly, for so many customers. We had actually hundreds of thousands of bags come in and go out within a week.” - - This time, with the brightly colored coolers, the brand seemed more prepared. “Consider yourself fairly warned: these Totes are totally destined to become the next craze!” screams a product description on the grocery chain’s site. - - Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items. A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer. - - If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items. Some people might just decide to pick one up on their next grocery trip because they saw it online. Others may seek the item out specifically, rushing to stores before they sell out. - - “When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.” - - That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted. - - “You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said. Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public. - - These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added. - - For some, the treasure hunt aspect may be part of the fun — especially when it ends not only with the coveted item, but a chance to post evidence of success online. - - Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett. His videos on Instagram and TikTok are mostly devoted to pop culture and Disney. But he likes the chain, and he likes to post about what he buys there. - - “You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “It’s always a surprise.” - - The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. - - “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said. That’s why, she thinks, the branded bags have been such a hit. “People want a little piece of Trader Joe’s to carry around with them.”",CNN,15/06/2024,"['A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag.', 'Right away, he was on the lookout.', 'When he went to London on a trip, he even deputized his mom to keep an eye out for the bags.', 'After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding.', 'Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack).', 'Others may not be so lucky.', 'The mini-coolers have already been listed for several times that price on eBay.', 'Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral.', 'They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire.', 'Before social media, it took a lot more for a niche item to hit. “', 'You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school.', 'But now “you can have it all happen instantly across the whole country.”', 'This isn’t even the first time little Trader Joe’s bags have gone viral.', 'In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out.', 'Most brands don’t see their products take off this way, especially not twice in a row.', 'On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun.', 'But Trader Joe doesn’t have much of a social media presence.', 'The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.', 'These creators are playing a key role in the worlds of retail marketing.', 'Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday.', 'Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said.', 'Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative.', 'Her channels are popular enough for her to earn payment from TikTok.', 'She’s not the only one posting this type of content.', 'Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores.', 'It had more than 54,000 followers on the social platform on Friday.', 'Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings.', 'Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.', '“What is up with these tote bags?', 'Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “', 'I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said.', '“We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “', 'We had no inkling that they would be this exciting, this quickly, for so many customers.', 'We had actually hundreds of thousands of bags come in and go out within a week.”', 'This time, with the brightly colored coolers, the brand seemed more prepared. “', 'Consider yourself fairly warned: these Totes are totally destined to become the next craze!”', 'screams a product description on the grocery chain’s site.', 'Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items.', 'A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer.', 'If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items.', 'Some people might just decide to pick one up on their next grocery trip because they saw it online.', 'Others may seek the item out specifically, rushing to stores before they sell out.', '“When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.”', 'That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted.', '“You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said.', 'Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public.', 'These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added.', 'For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.', 'Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett.', 'His videos on Instagram and TikTok are mostly devoted to pop culture and Disney.', 'But he likes the chain, and he likes to post about what he buys there.', '“You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “', 'It’s always a surprise.”', 'The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that.', '“You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.', 'That’s why, she thinks, the branded bags have been such a hit. “', 'People want a little piece of Trader Joe’s to carry around with them.”']",0.1861896278490253,"For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.",Consider yourself fairly warned: these Totes are totally destined to become the next craze!”,0.7747427523136139,"The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.","Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.",2024-06-17 -"Stellantis aims to correct 'arrogant' mistakes in U.S. market, CEO says",https://www.cnbc.com/2024/06/13/stellantis-has-achieved-9-billion-in-cost-reductions-from-merger.html,2024-06-13T20:28:51+0000,"In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company's investor day at its North American headquarters. ""When I'm saying that you are arrogant, I'm talking about myself. I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there.""During the investor day, Tavares and his top lieutenants broadly updated investors on the company's operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty. The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets. Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days. Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.While sales have been down, the company remains among the most profitable automakers globally. Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive. That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formed one of the world's largest automakers.Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing.Cost-cutting has been a critical mission of the veteran automotive executive. Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions.Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker's 2030 ""Dare Forward"" strategic plan.Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks. The automaker anticipates that Jeep will be a main driver for the company globally. Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Tavares said. ""We are going to reinforce the manufacturing footprint of Jeep.""",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker\'s U.S. operations that led to sales declines, bloated inventories and investor concerns.', 'Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.', '""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company\'s investor day at its North American headquarters. ""', ""When I'm saying that you are arrogant, I'm talking about myself."", ""I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there."", '""During the investor day, Tavares and his top lieutenants broadly updated investors on the company\'s operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty.', 'The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.', ""Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets."", ""Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue."", ""In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.', 'While sales have been down, the company remains among the most profitable automakers globally.', ""Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.', 'Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive.', ""That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formedone of the world's largest automakers."", ""Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing."", 'Cost-cutting has been a critical mission of the veteran automotive executive.', ""Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions."", 'Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.', 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', '""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker\'s 2030 ""Dare Forward"" strategic plan.', 'Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.', 'The automaker anticipates that Jeep will be a main driver for the company globally.', 'Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Tavares said. ""', 'We are going to reinforce the manufacturing footprint of Jeep.""']",0.0910056018442069,"Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.","In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.",0.2339884865851629,"Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year.","Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.",2024-06-17 -GM trims 2024 EV forecast amid slower-than-expected demand,https://www.cnbc.com/2024/06/11/gm-trims-2024-ev-sales-forecast-amid-slower-than-expected-demand.html,2024-06-11T17:51:08+0000,"In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000. The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. That milestone is still expected in the fourth quarter of this year, he said.Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May. Sales of GM's all-electric vehicles remained minuscule during the first quarter. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV. The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500. GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.The two new EVs, which share GM's ""Ultium"" EV platform and technologies, are crucial for GM's EV growth.In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year. He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of June.""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently. This allows us to continue returning cash to shareholders,"" Jacobson said in a release.Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024. A prior version of this article misstated that range.",CNBC,11/06/2024,"['In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.', 'GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.', 'The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.', '""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.', 'Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year.', ""That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units."", 'That milestone is still expected in the fourth quarter of this year, he said.', 'Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May.', ""Sales of GM's all-electric vehicles remained minuscule during the first quarter."", ""EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period."", 'The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV.', 'The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500.', 'GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.', 'The two new EVs, which share GM\'s ""Ultium"" EV platform and technologies, are crucial for GM\'s EV growth.', 'In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year.', 'He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.', 'The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.', 'The new buyback authorization comes as anaccelerated $10 billionshare repurchase program announced in November 2023 is expected to be completed by the end of June.', '""We are very focused on the profitability of our [internal combustion engine] business, we\'re growing and improving the profitability of our EV business and deploying our capital efficiently.', 'This allows us to continue returning cash to shareholders,"" Jacobsonsaid in a release.', 'Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024.', 'A prior version of this article misstated that range.']",0.1281523670116651,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.",0.0904689051888205,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.",2024-06-17 -Fisker recalls thousands of Ocean EVs for safety and compliance issues,https://www.cnbc.com/2024/06/12/fisker-recalls-thousands-of-ocean-evs-for-safety-and-compliance-issues.html,2024-06-12T17:52:33+0000,"In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues. The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons. The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.Fisker said that vehicles updated to OS 2.1 are not impacted by the recall. Fisker anticipates completing the software update process by June 30, 2024. The recalls come after months of setbacks for Fisker. Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand. Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels. In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open. This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement.Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available. The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.",CNBC,12/06/2024,"['In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.', 'The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.', 'The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.', 'Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons.', 'The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.', 'Fisker said that vehicles updated to OS 2.1 are not impacted by the recall.', 'Fisker anticipates completing the software update process by June 30, 2024.The recalls come after months of setbacks for Fisker.', 'Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.', 'Fisker\'s struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup\'s shares due to ""abnormally low"" price levels.', ""In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open."", ""This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement."", 'Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available.', 'The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.']",0.0060538940872337,"The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.","Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels.",-0.9712965488433838,,Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.,2024-06-17 -"Boeing and NASA delay Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft",https://www.cnbc.com/2024/06/14/boeing-and-nasa-delay-starliner-astronaut-return-to-june-22.html,2024-06-14T19:14:12+0000,"In this articleBoeing's Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS. The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET. That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.NASA said those tests include operating the capsule's hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program's managers and astronauts ""finalize departure planning and operations.""The agency also noted that Starliner would ""repeat some 'safe haven' testing,"" but did not explain why that was necessary. A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency. NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC's request for further clarification until a press conference that will be held Tuesday before the planned departure.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions. Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.Before the launch, a single leak in Calypso's helium propulsion system was identified. The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks. NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system. Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock.NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail. Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance. NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.Starliner was once seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years. However, various setbacks and delays have steadily slipped Starliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.Correction: A previous version of this article misstated the duration of the flight test.",CNBC,14/06/2024,"['In this articleBoeing\'s Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.', ""This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS."", 'The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.', 'Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.', ""But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET."", 'That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.', 'NASA said those tests include operating the capsule\'s hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program\'s managers and astronauts ""finalize departure planning and operations.', '""The agency also noted that Starliner would ""repeat some \'safe haven\' testing,"" but did not explain why that was necessary.', 'A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency.', 'NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC\'s request for further clarification until a press conference that will be held Tuesday before the planned departure.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions.', 'Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.', ""Before the launch, a single leak in Calypso's helium propulsion system was identified."", ""The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks."", 'NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.', 'While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system.', 'Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.', ""Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock."", ""NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail."", ""Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance."", 'NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.', 'Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.', ""Starliner wasonce seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years."", 'However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.', 'Correction: A previous version of this article misstated the duration of the flight test.']",0.0231651503464283,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.",0.2881059249242146,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.",2024-06-17 -Netflix hunts for a production partner for its Christmas NFL games,https://www.cnbc.com/2024/06/13/netflix-nfl-christmas-games-broadcast-partner.html,2024-06-13T19:57:54+0000,"In this articleNetflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier. The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment."" Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team. That's left the streamer looking for help.Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private. Disney won't produce the games because it already has college football obligations the same day, two of the people said.In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited.Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.There's also competition to consider.Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter. That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season.Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform. Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day. Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.For the NFL, Netflix represents the chance to reach a global, younger audience. There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games.The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.""Netflix and the league are looking to mirror the partnership that Amazon's Prime Video lined up with Comcast's NBC Sports for ""Thursday Night Football"" games.While NBC Sports' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.Netflix is interested in finding a similar partner, according to people familiar with its plans.If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers. Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple.""It's not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division.""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively. Alphabet's YouTube TV is also the new home of the ""Sunday Ticket"" package of games.Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming. NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.The league has been vocal in its push to add more streaming partners in an effort to widen its audience.That was the thinking behind the deal with Netflix to stream these Christmas Day games.When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.""I think that's best for consumers at this stage,"" Goodell said at the time.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,13/06/2024,"['In this articleNetflix is trying to get ready for some football.', 'The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter.', 'Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.', ""This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier."", 'The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment.""', ""Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team."", ""That's left the streamer looking for help."", ""Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private."", ""Disney won't produce the games because it already has college football obligations the same day, two of the people said."", ""In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited."", 'Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.', ""There's also competition to consider."", 'Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter.', ""That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season."", 'Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.', 'Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform.', ""Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day."", 'Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.', 'For the NFL, Netflix represents the chance to reach a global, younger audience.', ""There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games."", 'The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.', 'While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.', '""There aren\'t that many players in the space who are capable of doing this at a level that you would want to trust when you\'re launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.', '""Netflix and the league are looking to mirror the partnership that Amazon\'s Prime Video lined up with Comcast\'s NBC Sports for ""Thursday Night Football"" games.', 'While NBC Sports\' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.', 'Netflix is interested in finding a similar partner, according to people familiar with its plans.', ""If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers."", ""Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple."", '""It\'s not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""', ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division."", '""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.', 'Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.', 'Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.', 'Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively.', 'Alphabet\'s YouTube TV is also the new home of the ""Sunday Ticket"" package of games.', 'Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming.', 'NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.', 'The league has been vocal in its push to add more streaming partners in an effort to widen its audience.', 'That was the thinking behind the deal with Netflix to stream these Christmas Day games.', 'When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.', '""I think that\'s best for consumers at this stage,"" Goodell said at the time.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1863829998875434,"Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day.","Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.",0.6477434784173965,"NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.","""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.",2024-06-17 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-06-17 -Delta to launch premium economy service on NYC-LA flights in air travel upsell race,https://www.cnbc.com/2024/06/10/delta-premium-economy-nyc-la.html,2024-06-10T18:56:02+0000,"In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights. It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips. JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin. Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s. Delta said it plans to expand service later this year.Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket. The seats were sold as extra legroom tickets, which are a rung below premium economy.Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.",CNBC,10/06/2024,"['In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.', 'Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights.', 'It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.', 'Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.', 'JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin.', 'Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.', ""Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion."", ""The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s."", 'Delta said it plans to expand service later this year.', 'Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.', 'Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.', ""Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket."", 'The seats were sold as extra legroom tickets, which are a rung below premium economy.', ""Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.""]",0.2113299976676102,"Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.",,0.2140295982360839,"Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.","Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.",2024-06-17 -"Even with food prices flattening out, the cost of dining out is still going up",https://edition.cnn.com/2024/06/12/business/menu-prices-rising/index.html," - Published - 11:56 AM EDT, Wed June 12, 2024 - ","Grocery prices stayed flat in May, after ticking down the month before. But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. - - Menu prices rose 0.4% at sit-down restaurants from April to May, adjusted for seasonal swings, according to inflation data released Wednesday by the Bureau of Labor Statistics. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. - - The difference between grocery increases and menu price inflation was more pronounced for the full year. Grocery prices rose 1% in the 12 months through May. In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%. They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints. - - The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. Restaurant chains raise menu prices every year, but since the pandemic hikes have been coming in fast and furious. Executives noted that for a while, the higher prices didn’t scare people off. But customers finally snapped, leaving chains to reverse course and sometimes get defensive. - - McDonald’s USA president Joe Erlinger recently said in an open letter that prices have risen about 21% over five years. That’s a bit less than inflation overall — not 100% as, he said, people may think, thanks to an analysis from FinanceBuzz. It recently found that McDonald’s prices have risen 100% since 2014. Still, he acknowledged that at some locations, Big Mac meals may be going for much higher. On TikTok, complaints of $3 McDonald’s hash browns and $16 meals have gone viral. - - Chains from Burger King to KFC to Starbucks have also started touting menu bundles and deals in a bid to lure customers back. The deals, however, are temporary, designed to jumpstart sales in a competitive environment. They don’t change restaurant chain operators’ plans to keep raising prices. - - Grocery prices, on the other hand, have moderated, a welcome reversal from months of increases that started with the pandemic, and were exacerbated by the war in Ukraine, extreme weather and companies taking the opportunity to pad prices, among other factors. In February, overall food prices remained flat for the first time since April 2023. - - Some items have even gotten cheaper over the course of the year. - - Apple prices plunged 13.2%, thanks largely to an abundant crop in the fall. Also in the produce aisle, potatoes declined 3.2%. - - Ham slumped 5.4% and cheese dropped 3.4% (bread rose 1%, so your sandwich isn’t a total bargain). Coffee dropped 2.5% and milk fell 2.1%. Rice decreased 2%, and fish and seafood together dropped 1%. - - Other items got more expensive this year, particularly in the meat aisle, due in part to a constrained supply of cattle and deadly wildfires in Texas. Uncooked beef roasts rose 6% and uncooked ground beef jumped 4.9%. - - Hot dogs spiked 7.3% and bacon went up 6.9%. Poultry rose 1.2%. Eggs, which last year notched huge increases, went up by 3%. - - While grocery prices increased overall for the year, they stayed flat from April to May. In that time, bacon jumped 1.7%, bread went up 1.1%, and uncooked ground beef and chicken each rose 1%. Other prices slumped: Milk dropped 1.3% and rice fell 1.2%. Together, fresh vegetables fell 0.4%, as did eggs.",CNN,12/06/2024,"['Grocery prices stayed flat in May, after ticking down the month before.', 'But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals.', 'Menu prices rose 0.4% at sit-down restaurants from April to May, adjusted for seasonal swings, according to inflation data released Wednesday by the Bureau of Labor Statistics.', 'In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints.', 'The difference between grocery increases and menu price inflation was more pronounced for the full year.', 'Grocery prices rose 1% in the 12 months through May.', 'In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%.', 'They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints.', 'The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability.', 'Restaurant chains raise menu prices every year, but since the pandemic hikes have been coming in fast and furious.', 'Executives noted that for a while, the higher prices didn’t scare people off.', 'But customers finally snapped, leaving chains to reverse course and sometimes get defensive.', 'McDonald’s USA president Joe Erlinger recently said in an open letter that prices have risen about 21% over five years.', 'That’s a bit less than inflation overall — not 100% as, he said, people may think, thanks to an analysis from FinanceBuzz.', 'It recently found that McDonald’s prices have risen 100% since 2014.', 'Still, he acknowledged that at some locations, Big Mac meals may be going for much higher.', 'On TikTok, complaints of $3 McDonald’s hash browns and $16 meals have gone viral.', 'Chains from Burger King to KFC to Starbucks have also started touting menu bundles and deals in a bid to lure customers back.', 'The deals, however, are temporary, designed to jumpstart sales in a competitive environment.', 'They don’t change restaurant chain operators’ plans to keep raising prices.', 'Grocery prices, on the other hand, have moderated, a welcome reversal from months of increases that started with the pandemic, and were exacerbated by the war in Ukraine, extreme weatherand companies taking the opportunity to pad prices, among other factors.', 'In February,overall food prices remained flatfor the first time since April 2023.', 'Some items have even gotten cheaper over the course of the year.', 'Apple prices plunged 13.2%, thanks largely to an abundant crop in the fall.', 'Also in the produce aisle, potatoes declined 3.2%.', 'Ham slumped 5.4% and cheese dropped 3.4% (bread rose 1%, so your sandwich isn’t a total bargain).', 'Coffee dropped 2.5% and milk fell 2.1%.', 'Rice decreased 2%, and fish and seafood together dropped 1%.', 'Other items got more expensive this year, particularly in the meat aisle, due in part to aconstrained supply of cattleanddeadly wildfires in Texas.', 'Uncooked beef roasts rose 6% and uncooked ground beef jumped 4.9%.', 'Hot dogs spiked 7.3% and bacon went up 6.9%.', 'Poultry rose 1.2%.', 'Eggs, which last year notched huge increases, went up by 3%.', 'While grocery prices increased overall for the year, they stayed flat from April to May.', 'In that time, bacon jumped 1.7%, bread went up 1.1%, and uncooked ground beef and chicken each rose 1%.', 'Other prices slumped: Milk dropped 1.3% and rice fell 1.2%.', 'Together, fresh vegetables fell 0.4%, as did eggs.']",-0.0084582784603585,"Grocery prices, on the other hand, have moderated, a welcome reversal from months of increases that started with the pandemic, and were exacerbated by the war in Ukraine, extreme weatherand companies taking the opportunity to pad prices, among other factors.","Restaurant chains raise menu prices every year, but since the pandemic hikes have been coming in fast and furious.",0.2486017176083156,Grocery prices rose 1% in the 12 months through May.,"Also in the produce aisle, potatoes declined 3.2%.",2024-06-17 -"Barclays suspends sponsorship of Download, Latitude and Isle Of Wight festivals",https://www.bbc.co.uk/news/articles/crgg13nn0kgo,2024-06-14T15:37:14.843Z,"Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight. The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel. Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer. A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals."" The bank signed a five-year sponsorship deal with Live Nation in 2023. It is understood that the suspension does not apply to the full term of the contract. Mercury-nominated band Lankum, who are on the line-up for Suffolk's Latitude festival in July, were among the first to respond to the announcement. ""We welcome the news,"" they said on Instagram. ""Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""Standing together is the best foot forward."" The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays. Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza. A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid. The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe."" They added that the protests had led to intimidation of staff and vandalism of their branches. ""The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""It is time that leaders across politics, business, academia and the arts stand united against this."" A number of bands pulled out of this weekend's Download festival at Donington Park in Leicestershire. ""We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram. The bands Speed, Scowl, Zulu and Ithaca also joined the boycott. The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate. This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent."" Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"". Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent. British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"". Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee."" Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza. However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"". That includes companies ""that supply defence products to Nato and other allies including Ukraine"". It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments. Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard."" ",BBC,14/06/2024,"['Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight.', ""The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel."", 'Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer.', 'A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals.""', 'The bank signed a five-year sponsorship deal with Live Nation in 2023.', 'It is understood that the suspension does not apply to the full term of the contract.', 'Mercury-nominated band Lankum, who are on the line-up for Suffolk\'s Latitude festival in July, were among the first to respond to the announcement. ""', 'We welcome the news,"" they said on Instagram. ""', 'Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""', 'Standing together is the best foot forward.""', ""The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays."", 'Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza.', 'A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""', 'Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid.', 'The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe.""', 'They added that the protests had led to intimidation of staff and vandalism of their branches. ""', 'The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""', 'It is time that leaders across politics, business, academia and the arts stand united against this.""', 'A number of bands pulled out of this weekend\'s Download festival at Donington Park in Leicestershire. ""', 'We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram.', 'The bands Speed, Scowl, Zulu and Ithaca also joined the boycott.', 'The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate.', 'This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent.""', 'Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"".', ""Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent."", 'British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".', 'Fellow comedian Grace Campbell, the daughter of Sir Tony Blair\'s former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can\'t in good conscience take the fee.""', 'Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza.', 'However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"".', 'That includes companies ""that supply defence products to Nato and other allies including Ukraine"".', 'It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments.', 'Protest group Bands Boycott Barclays called the bank\'s decision to suspend its ties with the festivals a ""victory"". ""', 'As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""', 'Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard.""']",0.156580498070319,"Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee.""","British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".",-0.4070264975229899,"Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""","The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. """,2024-06-17 -The good economic news this week was just that … good news,https://edition.cnn.com/2024/06/15/economy/good-news-inflation-may/index.html," - Published - 9:30 AM EDT, Sat June 15, 2024 - ","“Good news is bad news” has been a common refrain for a while now. - - When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. - - This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire. - - “What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.” - - He added: “That is good news.” - - This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory. - - And it sure did deliver. - - On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation. - - On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well). - - But those data points were small fry as to what would come Wednesday. - - Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. On an annual basis, consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, - - Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled. Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low. - - “The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said. - - The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September. - - The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December. - - The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. - - Excluding gas prices, imports still fell 0.3%. - - “Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.” - - “We would not rule out a first rate cut in September; the market is not,” Rupkey wrote. - - And more good news is likely on the way this next week and later this month, Brusuelas said. - - Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report. Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month. - - “There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",CNN,15/06/2024,"['“Good news is bad news” has been a common refrain for a while now.', 'When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts.', 'This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire.', '“What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “', 'And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.”', 'He added: “That is good news.”', 'This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory.', 'And it sure did deliver.', 'On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.', 'On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).', 'But those data points were small fry as to what would come Wednesday.', 'Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022.', 'On an annual basis, consumer prices rose 3.3% from a year earlier,slowing from April’s 3.4% rate, Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled.', 'Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low.', '“The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said.', 'The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September.', 'The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December.', 'The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.', 'Excluding gas prices, imports still fell 0.3%.', '“Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “', 'Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.”', '“We would not rule out a first rate cut in September; the market is not,” Rupkey wrote.', 'And more good news is likely on the way this next week and later this month, Brusuelas said.', 'Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report.', 'Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month.', '“There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “', 'At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”']",0.1520506693033568,"On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.","At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",0.2949928978215093,"On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).","The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.",2024-06-17 -Elon Musk wins record-breaking Tesla pay deal from shareholders,https://www.bbc.co.uk/news/articles/cleezyxjv4jo,2024-06-13T04:18:36.115Z,"Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas. The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders. The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price. ""Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting. The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package. However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.” The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk. In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"". Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"". She also highlighted Todd Maron, Tesla's former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"". Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal. The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure. But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base. The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""It's a pretty ringing endorsement,"" said car industry analyst Karl Brauer. Mr Musk got more than enough shareholder support ""to justify the package,"" he added. Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter. Shares in the company closed up nearly 3% after Mr Musk's announcement. The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price. Tesla had said that Mr Musk's goals were challenging. However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""My understanding is that there's been about 1,100% appreciation in Tesla stock. And that's pretty, pretty impressive. Most chief executives have never done anything like that,"" said Mr Brauer. On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC's Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""That’s a very, very good return,"" he said. Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000. Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company. Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said. Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success. Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes. Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk. ",BBC,13/06/2024,"[""Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas."", 'The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.', 'The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn).', 'The exact amount depends on the Tesla share price. ""', 'Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm\'s annual meeting.', ""The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package."", 'However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""', 'The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""', 'It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “', 'It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.”', 'The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk.', 'In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".', 'Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"".', 'She also highlighted Todd Maron, Tesla\'s former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"".', ""Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal."", ""The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure."", ""But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base."", 'The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""', 'It\'s a pretty ringing endorsement,"" said car industry analyst Karl Brauer.', 'Mr Musk got more than enough shareholder support ""to justify the package,"" he added.', 'Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter.', ""Shares in the company closed up nearly 3% after Mr Musk's announcement."", 'The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.', ""Tesla had said that Mr Musk's goals were challenging."", 'However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""', ""My understanding is that there's been about 1,100% appreciation in Tesla stock."", ""And that's pretty, pretty impressive."", 'Most chief executives have never done anything like that,"" said Mr Brauer.', 'On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC\'s Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""', 'That’s a very, very good return,"" he said.', 'Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000.', ""Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company."", 'Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said.', ""Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success."", ""Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes."", ""Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk.""]",0.269444758336889,"The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.","In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".",0.4500754390444074,"But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base.","The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure.",2024-06-17 -"At Stellantis investor day, cost cuts and China come into focus",https://www.cnbc.com/2024/06/12/stellantis-investor-day-wall-street-expectations.html,2024-06-12T16:29:01+0000,"In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That's beginning to pay dividends for the company and investors.How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday.Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually. It's a target the company says it will achieve in 2024, a year ahead of schedule.More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.""We've been cutting headcounts, but we really don't need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""To engineer the systems for our 10-year road map, it's already done.""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we'll see."" He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.""There is no silver bullet here. You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""This is no surprise. You can check my comments for the last five years. I've been running the same stuff for five years.""Future cost-saving efforts could be part of the company's Thursday capital markets day.Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight.""We want to help you better understand how we see the industry evolving, how we're leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns.""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China.At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days.Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.Tavares has called Chinese automakers his ""No. 1 competitor"" and said the company is taking an ""asset-light"" strategy. That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor.""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed. We don't expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March. GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.— CNBC's Michael Bloom contributed to this report.",CNBC,12/06/2024,"['In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission.', ""That's beginning to pay dividends for the company and investors."", ""How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday."", ""Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually."", ""It's a target the company says it will achieve in 2024, a year ahead of schedule."", 'More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.', '""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', ""The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions."", 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.', 'Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.', ""Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it\'s optimizing design and function for its new vehicles.', 'Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.', '""We\'ve been cutting headcounts, but we really don\'t need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""', ""To engineer the systems for our 10-year road map, it's already done."", '""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we\'ll see.""', 'He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.', '""There is no silver bullet here.', 'You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""', 'This is no surprise.', 'You can check my comments for the last five years.', ""I've been running the same stuff for five years."", '""Future cost-saving efforts could be part of the company\'s Thursday capital markets day.', ""Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight."", '""We want to help you better understand how we see the industry evolving, how we\'re leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""', ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns."", '""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.', ""Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China."", ""At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.', 'Tavares has called Chinese automakers his ""No.', '1 competitor"" and said the company is taking an ""asset-light"" strategy.', ""That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor."", '""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.', 'We don\'t expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.', ""Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor."", ""Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March."", 'GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.', 'RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.', 'Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.—', ""CNBC's Michael Bloom contributed to this report.""]",0.1316323402178248,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.","Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.",0.520694066177715,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.",Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.,2024-06-17 -Samsung unveils plan to speed up delivery of AI chips,https://edition.cnn.com/2024/06/12/tech/south-korea-samsung-ai-chips-plan-intl-hnk/index.html," - Published - 8:25 PM EDT, Wed June 12, 2024 - ","Samsung Electronics said its contract manufacturing business plans to offer a one-stop shop for clients to get their artificial intelligence (AI) chips made faster — integrating its global No 1 memory chip, foundry, and chip packaging services, to harness the AI boom. - - With clients working with a single channel of communication that directs Samsung’s memory chip, foundry and chip packaging teams at once, the time it takes to produce AI chips, usually weeks, has been cut by around 20%, Samsung said on Wednesday. - - “We are truly living in the age of AI, the emergence of generative AI is completely changing the technology landscape,” said Siyoung Choi, president and general manager of the foundry business, at a Samsung event in San Jose, California. - - Samsung expects global chip industry revenue to grow to $778 billion by 2028, boosted by AI chips, Choi said. - - At a briefing with reporters ahead of the event, Executive Vice President of Foundry Sales and Marketing Marco Chisari said the company believes OpenAI CEO Sam Altman’s loose projections on soaring demand for AI chips are realistic. - - Altman has told executives at contract chipmaker TSMC that he wanted to build roughly three dozen new chip factories, Reuters has previously reported. - - Samsung is one of the few companies that sells memory chips, offers foundry services and designs chips under the same roof. That combination has often worked against it in the past, as some clients were nervous that doing business with its foundry might benefit Samsung as a competitor in another field. - - However, with skyrocketing demand for AI chips and the need for all the chip parts to be highly integrated to train or infer huge amounts of data fast by using less power, Samsung believes its turnkey approach will be a strength going forward. - - The South Korean tech giant also touted its cutting-edge chip architecture known as gate all-around (GAA), a type of transistor architecture that helps improve chip performance and reduces power consumption. - - GAA is seen as important to keep making more powerful chips for AI as chips become finer to the point of pushing the boundaries of physics. - - Although competitors such as global foundry No 1 TSMC are also working on chips using GAA, Samsung started applying GAA earlier, and said it plans to mass produce its second-generation 3-nanometer chips using GAA in the second half of this year. - - Samsung also announced its latest 2-nanometer chipmaking process for high-performance computing chips, which places power rails on the backside of the wafer to improve power delivery. Mass production is slated for 2027.",CNN,12/06/2024,"['SamsungElectronicssaid its contract manufacturing business plans to offer a one-stop shop for clients to get their artificial intelligence (AI) chips made faster — integrating its global No 1 memory chip, foundry, and chip packaging services, to harness the AI boom.', 'With clients working with a single channel of communication that directsSamsung’s memory chip, foundry and chip packaging teams at once, the time it takes to produce AI chips, usually weeks, has been cut by around 20%,Samsungsaid on Wednesday.', '“We are truly living in the age of AI, the emergence of generative AI is completely changing the technology landscape,” said Siyoung Choi, president and general manager of the foundry business, at aSamsungevent in San Jose, California.', 'Samsungexpects global chip industry revenue to grow to $778 billion by 2028, boosted by AI chips, Choi said.', 'At a briefing with reporters ahead of the event, Executive Vice President of Foundry Sales and Marketing Marco Chisari said the company believes OpenAI CEO Sam Altman’s loose projections on soaring demand for AI chips are realistic.', 'Altman has told executives at contract chipmaker TSMC thathe wanted to build roughly three dozen new chip factories, Reutershas previously reported.', 'Samsungis one of the few companies that sells memory chips, offers foundry services and designs chips under the same roof.', 'That combination has often worked against it in the past, as some clients were nervous that doing business with its foundry might benefitSamsungas a competitor in another field.', 'However, with skyrocketing demand for AI chips and the need for all the chip parts to be highly integrated to train or infer huge amounts of data fast by using less power,Samsungbelieves its turnkey approach will be a strength going forward.', 'The South Korean tech giant also touted its cutting-edge chip architecture known as gate all-around (GAA), a type of transistor architecture that helps improve chip performance and reduces power consumption.', 'GAA is seen as important to keep making more powerful chips for AI as chips become finer to the point of pushing the boundaries of physics.', 'Although competitors such as global foundry No 1 TSMC are also working on chips using GAA,Samsungstarted applying GAA earlier, and said it plans to mass produce its second-generation 3-nanometer chips using GAA in the second half of this year.', 'Samsungalso announced its latest 2-nanometer chipmaking process for high-performance computing chips, which places power rails on the backside of the wafer to improve power delivery.', 'Mass production is slated for 2027.']",0.1212605679077273,"However, with skyrocketing demand for AI chips and the need for all the chip parts to be highly integrated to train or infer huge amounts of data fast by using less power,Samsungbelieves its turnkey approach will be a strength going forward.","At a briefing with reporters ahead of the event, Executive Vice President of Foundry Sales and Marketing Marco Chisari said the company believes OpenAI CEO Sam Altman’s loose projections on soaring demand for AI chips are realistic.",0.4968669414520263,"Samsungexpects global chip industry revenue to grow to $778 billion by 2028, boosted by AI chips, Choi said.","With clients working with a single channel of communication that directsSamsung’s memory chip, foundry and chip packaging teams at once, the time it takes to produce AI chips, usually weeks, has been cut by around 20%,Samsungsaid on Wednesday.",2024-06-17 -"Petrol prices higher than they should be, says RAC",https://www.bbc.co.uk/news/articles/cd11jr44gexo,2024-06-17T10:15:28.706Z,"British drivers are facing petrol and diesel prices that are ""far higher than they should be"", according to the RAC. The motoring group said fuel retailers were using the ""distraction"" of the general election to keep profit margins ""persistently high"". It called on the UK's competition body to bring retailers ""into line as soon as it's able to"". However, a body representing fuel retailers said businesses were facing higher costs and also having to invest in new technology for electric vehicles. Concerns about the high price of fuel prompted the competition regulator, the Competition and Markets Authority (CMA), to look into the sector last year and it concluded that some retailers were overcharging. In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"". The RAC, which has long campaigned over fuel costs, says prices at the pumps have remained high despite wholesale costs having fallen since the end of April. The average price of a litre of petrol is 146.3p, which it said was 5p higher than it should be given the equivalent price in Northern Ireland is 141.1p. The group also said that the UK has seen the most expensive diesel prices in Europe for the past seven weeks, with the average litre costing 151.5p. The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre. RAC head of policy Simon Williams said: “While there has been much focus on fuel since the Competition and Markets Authority concluded the biggest retailers had overcharged drivers by £900m in 2022, margins are once again staying persistently high - and drivers are paying the price. “Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up."" But the Petrol Retailers Association (PRA) said comparing current fuel margins to historical figures overlooks ""several critical factors"". ""We must consider the significant increases in operating costs, reduced fuel volumes post-pandemic, and the substantial investments required to transition to a low-carbon transportation system,"" said Gordon Balmer, the PRA's executive director. ""These factors mean that fuel retailers need to earn more from fuel sales to stay in business and invest in the future."" He added that forecourts are ""ideally suited"" to electric vehicle charging points, and many PRA members were investing in these ""despite the slower-than-anticipated uptake of electric vehicles and the long payback periods for such investments"". ",BBC,17/06/2024,"['British drivers are facing petrol and diesel prices that are ""far higher than they should be"", according to the RAC.', 'The motoring group said fuel retailers were using the ""distraction"" of the general election to keep profit margins ""persistently high"".', 'It called on the UK\'s competition body to bring retailers ""into line as soon as it\'s able to"".', 'However, a body representing fuel retailers said businesses were facing higher costs and also having to invest in new technology for electric vehicles.', 'Concerns about the high price of fuel prompted the competition regulator, the Competition and Markets Authority (CMA), to look into the sector last year and it concluded that some retailers were overcharging.', 'In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".', 'The RAC, which has long campaigned over fuel costs, says prices at the pumps have remained high despite wholesale costs having fallen since the end of April.', 'The average price of a litre of petrol is 146.3p, which it said was 5p higher than it should be given the equivalent price in Northern Ireland is 141.1p.', 'The group also said that the UK has seen the most expensive diesel prices in Europe for the past seven weeks, with the average litre costing 151.5p.', 'The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre.', 'RAC head of policy Simon Williams said: “While there has been much focus on fuel since the Competition and Markets Authority concluded the biggest retailers had overcharged drivers by £900m in 2022, margins are once again staying persistently high - and drivers are paying the price. “', 'Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up.""', 'But the Petrol Retailers Association (PRA) said comparing current fuel margins to historical figures overlooks ""several critical factors"". ""', 'We must consider the significant increases in operating costs, reduced fuel volumes post-pandemic, and the substantial investments required to transition to a low-carbon transportation system,"" said Gordon Balmer, the PRA\'s executive director. ""', 'These factors mean that fuel retailers need to earn more from fuel sales to stay in business and invest in the future.""', 'He added that forecourts are ""ideally suited"" to electric vehicle charging points, and many PRA members were investing in these ""despite the slower-than-anticipated uptake of electric vehicles and the long payback periods for such investments"".']",0.0346120493694639,"In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".","Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up.""",-0.0621459086736043,"In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".","The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre.",2024-06-17 -Servers for GameStop annual shareholder meeting crash due to overwhelming interest,https://www.cnbc.com/2024/06/13/gamestop-annual-shareholder-meeting-2024-servers-crash.html,2024-06-14T12:23:03+0000,"In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream. The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event. The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.It said the meeting will be reconvened at 12:30 p.m. ET on Monday. GameStop didn't respond to CNBC's request for comment.When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that ComputerShare's tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes."" The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years. Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.GameStop surged 14.4% on Thursday in another volatile session.GameStop announced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally. GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock.In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns. Call options give the buyer the right to buy a stock at a specified price within a specific period. They increase in value if the stock rises above the so-called strike price.GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.",CNBC,14/06/2024,"[""In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream."", ""The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event."", 'The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.', 'It said the meeting will be reconvened at 12:30 p.m. ET on Monday.', ""GameStop didn't respond to CNBC's request for comment."", 'When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.', ""The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts."", 'They added that ComputerShare\'s tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes.', '""The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years.', 'Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.', 'GameStop surged 14.4% on Thursday in another volatile session.', 'GameStopannounced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally.', 'GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.', ""Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock."", 'In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns.', 'Call options give the buyer the right to buy a stock at a specified price within a specific period.', 'They increase in value if the stock rises above the so-called strike price.', 'GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.', 'The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.', 'It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.', ""Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.""]",0.1013017582753665,"Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.","The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event.",-0.2003346773294302,GameStop surged 14.4% on Thursday in another volatile session.,"The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.",2024-06-17 -Nathan's hot dog contest parts ways with champion Joey Chestnut over plant-based frank partnership,https://www.cnbc.com/2024/06/11/joey-chestnut-out-of-nathans-hot-dog-contest.html,2024-06-12T00:48:49+0000,"In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year.Major League Eating announced Tuesday that it's parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year's competition, hosted by Nathan's Famous.Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement. The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment.An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year. CNBC has not independently verified the account. The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with. This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event.""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world. So I hope he's there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan's to accommodate Chestnut's requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021. Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN. It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline.Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",CNBC,12/06/2024,"[""In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year."", 'Major League Eating announced Tuesday that it\'s parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year\'s competition, hosted by Nathan\'s Famous.', 'Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement.', ""The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment."", 'An account on X under Chestnut\'s name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan\'s hot dog eating contest this year.', 'CNBC has not independently verified the account.', 'The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.', ""This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event."", '""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.', 'For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.', '""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.', 'So I hope he\'s there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan\'s to accommodate Chestnut\'s requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.', ""Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021.Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN."", ""It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline."", 'Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.']",0.2157806098957802,"""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.","An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year.",-0.5937366843223572,"""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.","Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",2024-06-17 -"Influencer Jake Paul launching men's skin, personal care line at Walmart",https://www.cnbc.com/2024/06/12/jake-paul-launching-mens-skin-care-line-walmart.html,2024-06-12T18:59:46+0000,"Jake Paul is entering a new arena: skin care.The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.The personal care line will feature products priced at less than $10 and will be available at Walmart. Later this summer, an expanded product line will be available on Amazon.""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""We just believed we had a better vision, better product and could disrupt this entire space.""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant. Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.""It's a super underserved market,"" he said. ""I believe now that more men are caring about how they look and what they are putting into their body,"" he added.As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth. From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor.And it's expected to keep seeing gains. Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.Paul isn't alone in trying to tap into the market. Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.Young men are increasingly turning to social media and influencers for their sources of information. A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past.""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines. But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.""There's a big open market for creator-led products focused on boys,"" he added.He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand.""It's still gonna be a brawl, and we both plan on ripping each other's heads off,"" he added.",CNBC,12/06/2024,"['Jake Paul is entering a new arena: skin care.', 'The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.', 'The personal care line will feature products priced at less than $10 and will be available at Walmart.', 'Later this summer, an expanded product line will be available on Amazon.', '""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""', 'We just believed we had a better vision, better product and could disrupt this entire space.', '""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant.', 'Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.', '""It\'s a super underserved market,"" he said. ""', 'I believe now that more men are caring about how they look and what they are putting into their body,"" he added.', ""As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth."", ""From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor."", ""And it's expected to keep seeing gains."", ""Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects."", ""Paul isn't alone in trying to tap into the market."", 'Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.', 'Young men are increasingly turning to social media and influencers for their sources of information.', ""A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past."", '""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines.', 'But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.', '""There\'s a big open market for creator-led products focused on boys,"" he added.', ""He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand."", '""It\'s still gonna be a brawl, and we both plan on ripping each other\'s heads off,"" he added.']",0.4625497217074573,"As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth.",Paul isn't alone in trying to tap into the market.,0.5827901601791382,"Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.","""It's a super underserved market,"" he said. """,2024-06-17 -Sony Pictures is buying Alamo Drafthouse theater chain,https://www.cnbc.com/2024/06/12/sony-pictures-buys-alamo-drafthouse.html,2024-06-13T03:13:23+0000,"In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas. It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.However the decree only affected some studios. While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater. It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The Egyptian Theatre and New York's Paris Theater.Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas.""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. It was rescued by a private equity firm. However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.",CNBC,13/06/2024,"['In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.', ""This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas."", 'It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.', 'However the decree only affected some studios.', 'While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.', ""Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater."", ""It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The EgyptianTheatre and New York's Paris Theater."", 'Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division.', ""The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas."", '""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.', 'The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.', 'The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.', 'It was rescued by a private equity firm.', 'However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.', '""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""', 'We were created by film lovers for film lovers.', 'We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience.', 'Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.', '""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.']",0.2755990695936975,Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.,The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.,0.9728320717811584,"""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.",,2024-06-17 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-06-17 -Nervous about the market? Here’s one thing you could do if shares start sinking fast,https://edition.cnn.com/2024/06/17/investing/premarket-stocks-trading-fed-rates/index.html," - Published - 7:23 AM EDT, Mon June 17, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - Stocks are trading near record highs after Wall Street received long-awaited clarity on the path for inflation and interest rates. Can that last? - - The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. That rally has been challenged in recent months by a slew of hotter-than-expected inflation reports and economic data, which spurred concerns that the Federal Reserve would wait longer than expected to cut rates. - - The S&P 500 and Nasdaq Composite indexes both clinched several record closes last week as cooler-than-expected May Consumer and Producer Price Index reports raised Wall Street’s hopes that inflation is coming down again. - - Still, the Fed held interest rates steady on Wednesday and signaled just one cut for this year, fewer than the three it previously projected. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. - - If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? - - Before the Bell spoke with Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions, to discuss. - - This interview has been edited for length and clarity. - - Before the Bell: What is your biggest takeaway from last week? - - Jack Janasiewicz: The bottom line … is that there’s a disinflationary impulse coming. I think [Fed Chair Jerome] Powell was right to sort of look at [hotter-than-expected] January, February, March inflation data as maybe a little bit of an anomaly or a pause but not a reversal of that trend that’s going to continue to head to that 2% target. So, again, heading in the right direction, it may be slower than people would like. But we’re going to 2%. - - And then the other thing I would point to as well — the labor side of their mandate is becoming a little more focused. [The Fed] is one of the only central banks that has the dual mandate with price stability and full employment. It feels like the price stability side is coming into better focus. As the economy slows a little bit here, and you start to see the unemployment rate tick a little bit higher … the Fed [could start] to focus on making sure that the unemployment rate doesn’t start to rise. - - That could be the trigger for rate cuts. So we’re not ruling out rate cuts by September. We could easily have a cut. The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. - - What is the implication for stocks? - - This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend. And even if we slow, keep in mind where we’re starting from. You’re starting from an above-trend growth rate. So if you slow maybe we slow to trend. That’s a pretty good backdrop. That’s good for corporate earnings. And that’s, not surprisingly, why the market continues to hold up. - - I wouldn’t be shocked if we get a pullback, but the underlying economy is still pretty strong, and we’re basically going to tell our clients that any pullback, you should be looking to add on. So if we get a 5% or 10% correction in equities over the next month or two, you should be putting money to work, not de-risking here, because the fundamentals are still very strong for the economy. - - Do you expect some of the cash that’s on the sidelines to enter the stock market? - - Some of that will come back in, but I don’t think you’re going to see all of it, only because you’re still earning a pretty good yield on money market accounts. People have cash as cash, and it’s kind of its own bucket. So swapping that bucket for an equity risk, it’s not quite the same. - - But I think some of that will find its way back into the markets. We still have plenty of clients that are pretty defensively positioned because they don’t believe in this market rally, they think it’s overhyped, the economy is still going to slow. So there is room for some of that money to come back in, but some of it I think is still pretty sticky. - - Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home. - - But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable,” reports my colleague Hilary Whiteman. - - The report compared average incomes with average home prices. It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring. - - US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years. - - Perhaps unsurprisingly, the most expensive US cities to buy a home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10. - - The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries. - - Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney and the southern cities of Melbourne in Victoria and Adelaide in South Australia. - - Read more here. - - When OpenAI CEO Sam Altman attended Apple’s annual developer conference last week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak. Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices this year. - - But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person nor via livestream, reports my colleague Samantha Murphy Kelly. Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies. - - “I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “Apple had to manage the message carefully. OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience. Having him in the livestream would have only created an unnecessary level of confusion.” - - Earlier last week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall — the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence. - - The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry. - - The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership. - - Read more here.",CNN,17/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Stocks are trading near record highs after Wall Street received long-awaited clarity on the path for inflation and interest rates.', 'Can that last?', 'The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom.', 'That rally has been challenged in recent months by a slew of hotter-than-expected inflation reports and economic data, which spurred concerns that the Federal Reserve would wait longer than expected to cut rates.', 'The S&P 500 and Nasdaq Composite indexes both clinched several record closes last week as cooler-than-expected May Consumer and Producer Price Index reports raised Wall Street’s hopes that inflation is coming down again.', 'Still, the Fed held interest rates steady on Wednesday and signaled just one cut for this year, fewer than the three it previously projected.', 'Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool.', 'If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market?', 'Before the Bell spoke with Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions, to discuss.', 'This interview has been edited for length and clarity.', 'Before the Bell: What is your biggest takeaway from last week?', 'Jack Janasiewicz: The bottom line … is that there’s a disinflationary impulse coming.', 'I think [Fed Chair Jerome] Powell was right to sort of look at [hotter-than-expected] January, February, March inflation data as maybe a little bit of an anomaly or a pause but not a reversal of that trend that’s going to continue to head to that 2% target.', 'So, again, heading in the right direction, it may be slower than people would like.', 'But we’re going to 2%.', 'And then the other thing I would point to as well — the labor side of their mandate is becoming a little more focused. [', 'The Fed] is one of the only central banks that has the dual mandate with price stability and full employment.', 'It feels like the price stability side is coming into better focus.', 'As the economy slows a little bit here, and you start to see the unemployment rate tick a little bit higher … the Fed [could start] to focus on making sure that the unemployment rate doesn’t start to rise.', 'That could be the trigger for rate cuts.', 'So we’re not ruling out rate cuts by September.', 'We could easily have a cut.', 'The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction.', 'What is the implication for stocks?', 'This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend.', 'And even if we slow, keep in mind where we’re starting from.', 'You’re starting from an above-trend growth rate.', 'So if you slow maybe we slow to trend.', 'That’s a pretty good backdrop.', 'That’s good for corporate earnings.', 'And that’s, not surprisingly, why the market continues to hold up.', 'I wouldn’t be shocked if we get a pullback, but the underlying economy is still pretty strong, and we’re basically going to tell our clients that any pullback, you should be looking to add on.', 'So if we get a 5% or 10% correction in equities over the next month or two, you should be putting money to work, not de-risking here, because the fundamentals are still very strong for the economy.', 'Do you expect some of the cash that’s on the sidelines to enter the stock market?', 'Some of that will come back in, but I don’t think you’re going to see all of it, only because you’re still earning a pretty good yield on money market accounts.', 'People have cash as cash, and it’s kind of its own bucket.', 'So swapping that bucket for an equity risk, it’s not quite the same.', 'But I think some of that will find its way back into the markets.', 'We still have plenty of clients that are pretty defensively positioned because they don’t believe in this market rally, they think it’s overhyped, the economy is still going to slow.', 'So there is room for some of that money to come back in, but some of it I think is still pretty sticky.', 'Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.', 'But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable,” reports my colleague Hilary Whiteman.', 'The report compared average incomes with average home prices.', 'It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.', 'US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years.', 'Perhaps unsurprisingly, the most expensive US cities to buy a home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10.', 'The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries.', 'Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney andthe southern cities of Melbourne in Victoria and Adelaide in South Australia.', 'Read more here.', 'When OpenAI CEO Sam Altman attended Apple’s annual developer conference last week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak.', 'Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices this year.', 'But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person nor via livestream, reports my colleague Samantha Murphy Kelly.', 'Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies.', '“I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “', 'Apple had to manage the message carefully.', 'OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience.', 'Having him in the livestream would have only created an unnecessary level of confusion.”', 'Earlier last week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall — the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence.', 'The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry.', 'The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership.', 'Read more here.']",0.1447508820815298,"This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend.","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.",0.135143852752188,"The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom.","It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.",2024-06-17 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-06-17 -From dying mall brand to Wall Street winner: How Abercrombie & Fitch pulled off retail's biggest comeback,https://www.cnbc.com/2024/06/13/inside-abercrombie-and-fitchs-comeback.html,2024-06-13T13:23:39+0000,"In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations. Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook. She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer. Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.",CNBC,13/06/2024,"['In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer.', ""Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations."", 'Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.', ""Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook."", ""She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer."", 'Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.', ""To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.""]",0.3602311650416981,"Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.","Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.",0.9919991195201874,Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations.,,2024-06-17 -"Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair",https://www.cnbc.com/2024/06/10/southwest-luv-activist-elliott-stake.html,2024-06-10T20:05:51+0000,"In this articleActivist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals.Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday. Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet. Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation. Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said. Both executives started their Southwest careers in the 1980s. The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.Elliott in its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline.Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back. In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday. The company had a market capitalization of $16.6 billion as of Friday's close.Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other. But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.Elliott dismissed Southwest's upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline's leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.""Southwest's leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""A good retailer ... is always going to find ways to sell its customers more products.""Elliott said it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation. The activist also said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.Southwest isn't the only carrier facing activist pressure. Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.Elliott's campaigns at other companies have likewise centered on a change in leadership. Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances.In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American. Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.",CNBC,10/06/2024,"['In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.', 'Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday.', 'Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.', ""The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet."", 'Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.', 'The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation.', 'Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said.', 'Both executives started their Southwest careers in the 1980s.', 'The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.', ""Elliottin its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline."", 'Southwest said in a statement that its board ""is confident in our CEO and management\'s ability to execute against the company\'s strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.', '""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.', '""Southwest shares are down by more than 50% as of Friday\'s close from three years ago, when travel demand, led by domestic trips, was starting to come back.', 'In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.', ""The company had a market capitalization of $16.6 billion as of Friday's close."", 'Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other.', 'But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.', 'Elliott dismissed Southwest\'s upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline\'s leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.', '""Southwest\'s leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.', 'Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.', '""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""', 'A good retailer ... is always going to find ways to sell its customers more products.', '""Elliottsaid it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation.', 'Theactivistalso said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.', 'Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.', 'The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.', ""Southwest isn't the only carrier facing activist pressure."", 'Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.', ""Elliott's campaigns at other companies have likewise centered on a change in leadership."", ""Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances."", 'In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American.', ""Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.""]",0.2267985447349857,"Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.",In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.,0.2264580543224628,"In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.","""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back.",2024-06-17 -Ford ends EV dealership program that required hefty investment to sell electric models,https://www.cnbc.com/2024/06/13/ford-ends-ev-dealership-program.html,2024-06-13T14:13:20+0000,"In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks. That optimism, however, has not panned out as expected.EV sales for Ford and other automakers are growing but at a far slower pace than many expected. That's led to automakers delaying or canceling future electric vehicles and investments.""The world has changed,"" Marin Gjaja, chief operating officer of Ford's Model E electric vehicle business, said Thursday during a media briefing. ""The growth has slowed down.""Gjaja said the Model e Dealership Program, which included about half of Ford's 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers. The company had faced lawsuits from dealers over the program.Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks. ""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""We think it's going to help us grow our sales.""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.Gjaja said those initial estimates were high. He said dealers who participated in the full program invested about $600,000 on average.",CNBC,13/06/2024,"['In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.', 'The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks.', 'That optimism, however, has not panned out as expected.', 'EV sales for Ford and other automakers are growing but at a far slower pace than many expected.', ""That's led to automakers delaying or canceling future electric vehicles and investments."", '""The world has changed,"" Marin Gjaja, chief operating officer of Ford\'s Model E electric vehicle business, said Thursday during a media briefing. ""', 'The growth has slowed down.', '""Gjaja said the Model e Dealership Program, which included about half of Ford\'s 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers.', 'The company had faced lawsuits from dealers over the program.', 'Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks.', '""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""', ""We think it's going to help us grow our sales."", '""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.', 'Gjaja said those initial estimates were high.', 'He said dealers who participated in the full program invested about $600,000 on average.']",0.0858025423727656,"That optimism, however, has not panned out as expected.",In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.,0.5176552004284329,We think it's going to help us grow our sales.,The growth has slowed down.,2024-06-17 -Stellantis plans to grow Jeep sales 50% by 2027,https://www.cnbc.com/2024/06/13/stellantis-jeep-sales-growth.html,2024-06-13T18:09:38+0000,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis' investor day at its North American headquarters. ""We are going to reinforce the manufacturing footprint of Jeep.""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said. Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric. That's up from 18 currently.   ""We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon. A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV. Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck. Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier. The brand sold nearly 643,000 vehicles last year, down 6% from 2022. Jeep represented 42% of Stellantis' U.S. sales in 2023.",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis\' investor day at its North American headquarters. ""', 'We are going to reinforce the manufacturing footprint of Jeep.', '""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said.', 'Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric.', 'That\'s up from 18 currently. ""', 'We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.', 'Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.', 'Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon.', 'A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV.', 'Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.', ""A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck."", 'Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.', '""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis,Teslaand others.', 'The importance of such a vehicle has grown more apparent as Chinese automakers such as BYDandNiogrow their salesof less-expensive EVsoutside of China.', ""Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier."", 'The brand sold nearly 643,000 vehicles last year, down 6% from 2022.', ""Jeep represented 42% of Stellantis' U.S. sales in 2023.""]",0.1862019152259262,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.",,0.7979354679584503,"Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.","The brand sold nearly 643,000 vehicles last year, down 6% from 2022.",2024-06-17 -"FDA approves Merck vaccine designed to protect adults from bacteria that can cause pneumonia, serious infections",https://www.cnbc.com/2024/06/17/fda-approves-merck-pneumococcal-disease-vaccine-designed-for-adults.html,2024-06-17T23:02:51+0000,"In this articleThe Food and Drug Administration on Monday approved Merck's new vaccine designed to protect adults from a bacteria known as pneumococcus that can cause serious illnesses and a lung infection called pneumonia, the drugmaker said.Merck's shot, called Capvaxive, specifically protects against 21 strains of that bacteria to prevent a severe form of pneumococcal disease that can spread to other parts of the body and lead to pneumonia. It's the first pneumococcal conjugate vaccine designed specifically for adults and aims to provide broader protection than the available shots on the market, according to the drugmaker.Healthy adults can suffer from pneumococcal disease. But older patients and those with chronic or immunocompromising health conditions are at increased risk for the illness, especially the more serious or so-called ""invasive"" form. Invasive pneumococcal disease can lead to meningitis, an infection that causes inflammation in the area surrounding the brain and spinal cord, and an infection in the bloodstream called bacteremia. ""If you have chronic lung disease, even asthma, you have a higher risk of getting sick with pneumococcal disease, and then being in the hospital, losing out on work,"" Heather Platt, Merck's product development team lead for the newly cleared vaccine, told CNBC in an interview. ""Those are things that have a real impact on adults and children, their quality of life.""Around 150,000 U.S. adults are hospitalized with pneumococcal pneumonia each year, Platt said. Death from the more serious form of the disease is highest among adults 50 and above, Merck said in a release in December.Even after the FDA approval, the company's single-dose vaccine won't reach patients just yet. An advisory panel to the Centers for Disease Control and Prevention will meet on June 27 to discuss who should be eligible for the shot.Platt said Merck will support the committee's decision and is ready to supply the vaccine by late summer. Some analysts view Capvaxive as a key growth driver for Merck as it prepares to offset losses from its blockbuster cancer drug Keytruda, which will lose exclusivity in the U.S. in 2028. The market for pneumococcal conjugate vaccines is currently around $7 billion and could grow to be worth more than $10 billion over the next several years, according to a November note from Cantor Fitzgerald analysts. Merck's newly approved shot could boost its competitive edge in that space, which includes drugmaker Pfizer. Merck currently markets two pneumococcal shots, but neither is specifically designed for adults. For example, the company's existing shot Vaxneuvance is approved in the U.S. for patients 6 weeks of age and older.Pfizer's single-dose pneumococcal vaccine, Prevnar 20, is the current leader in the market for adults. But Merck expects its new shot to capture the majority of market share among adults, Platt said. ""We do expect there to be rapid uptake of"" Capvaxive, she said, adding that the company is confident that data on the shot will ""really resonate"" with clinicians and policymakers. Merck's pneumococcal vaccine protects against eight strains of the bacteria that are not included in any other approved shot for the disease. Those eight strains account for roughly 30% of invasive pneumococcal disease cases in patients 65 and above, according to a release from Merck, citing CDC data from 2018 to 2021. The 21 strains included in Merck's shot account for roughly 85% of invasive pneumococcal disease cases in adults 65 and above, Merck, citing the CDC data. Meanwhile, Pfizer's Prevnar targets strains that only account for roughly 51% of cases in that age group, based on the same CDC data. The FDA's approval is partly based on Merck's late-stage trial called STRIDE-3 that pitted the vaccine against Pfizer's Prevnar 20 in adults 18 and up who had not previously received a pneumococcal vaccine.Correction: This story has been updated to reflect 150,000 U.S. adults are hospitalized with pneumococcal pneumonia each year.",CNBC,17/06/2024,"[""In this articleThe Food and Drug Administration on Monday approved Merck's new vaccine designed to protect adults from a bacteria known as pneumococcus that can cause serious illnesses and a lung infection called pneumonia, the drugmaker said."", ""Merck's shot, called Capvaxive, specifically protects against 21 strains of that bacteria to prevent a severe form of pneumococcal disease that can spread to other parts of the body and lead to pneumonia."", ""It's the first pneumococcal conjugate vaccine designed specifically for adultsand aims to provide broader protection than the available shots on the market, according to the drugmaker."", 'Healthy adults can suffer from pneumococcal disease.', 'But older patients and those with chronic or immunocompromising health conditions are at increased risk for the illness, especially the more serious or so-called ""invasive"" form.', 'Invasive pneumococcal disease can lead to meningitis, an infection that causes inflammation in the area surrounding the brain and spinal cord, and an infection in the bloodstream called bacteremia.', '""If you have chronic lung disease, even asthma, you have a higher risk of getting sick with pneumococcal disease, and then being in the hospital, losing out on work,"" Heather Platt, Merck\'s product development team lead for the newly cleared vaccine, told CNBC in an interview. ""', 'Those are things that have a real impact on adults and children, their quality of life.', '""Around 150,000 U.S. adults are hospitalized with pneumococcal pneumonia each year, Platt said.', 'Death from the more serious form of the disease is highest among adults 50 and above, Merck said in a release in December.', ""Even after the FDA approval, the company's single-dose vaccine won't reach patients just yet."", 'An advisory panel to the Centers for Disease Control and Prevention will meet on June 27 to discuss who should be eligible for the shot.', ""Platt said Merck will support the committee's decision and is ready to supply the vaccine by late summer."", 'Some analysts view Capvaxive as a key growth driver for Merck as it prepares to offset losses from its blockbuster cancer drug Keytruda, which will lose exclusivity in the U.S. in 2028.The market for pneumococcal conjugate vaccines is currently around $7 billion and could grow to be worth more than $10 billion over the next several years, according to a November note from Cantor Fitzgerald analysts.', ""Merck's newly approved shot could boost its competitive edge in that space, which includes drugmaker Pfizer."", 'Merck currently markets two pneumococcal shots, but neither is specifically designed for adults.', ""For example, the company's existing shot Vaxneuvance is approved in the U.S. for patients 6 weeks of age and older."", ""Pfizer's single-dose pneumococcal vaccine, Prevnar 20, is the current leader in the market for adults."", 'But Merck expects its new shot to capture the majority of market share among adults, Platt said.', '""We do expect there to be rapid uptake of"" Capvaxive, she said, adding that the company is confident that data on the shot will ""really resonate"" with clinicians and policymakers.', ""Merck's pneumococcal vaccine protects against eight strains of the bacteria that are not included in any other approved shot for the disease."", ""Those eight strains account for roughly 30% of invasive pneumococcal disease cases in patients 65 and above, according to a release from Merck, citing CDC data from 2018 to 2021.The 21 strains included in Merck's shot account for roughly 85% of invasive pneumococcal disease cases in adults 65 and above, Merck, citing the CDC data."", ""Meanwhile, Pfizer's Prevnar targets strains that only account for roughly 51% of cases in that age group, based on the same CDC data."", ""The FDA's approval is partly based on Merck's late-stage trial called STRIDE-3 that pitted the vaccine against Pfizer's Prevnar 20 in adults 18 and up who had not previously received a pneumococcal vaccine."", 'Correction: This story has been updated to reflect 150,000 U.S. adults are hospitalized with pneumococcal pneumonia each year.']",0.0201231088733259,"Merck's newly approved shot could boost its competitive edge in that space, which includes drugmaker Pfizer.","""If you have chronic lung disease, even asthma, you have a higher risk of getting sick with pneumococcal disease, and then being in the hospital, losing out on work,"" Heather Platt, Merck's product development team lead for the newly cleared vaccine, told CNBC in an interview. """,0.0544579252600669,"Merck's newly approved shot could boost its competitive edge in that space, which includes drugmaker Pfizer.","""If you have chronic lung disease, even asthma, you have a higher risk of getting sick with pneumococcal disease, and then being in the hospital, losing out on work,"" Heather Platt, Merck's product development team lead for the newly cleared vaccine, told CNBC in an interview. """,2024-06-17 -"Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial",https://www.cnbc.com/2024/06/10/moderna-combination-covid-flu-vaccine-shows-positive-late-stage-data.html,2024-06-10T11:53:11+0000,"In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial. The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax. Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview. Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year. The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid. Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.Moderna's messenger RNA combination shot, called mRNA-1083, is made up of both the company's vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot. Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials. The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients. The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above. The trial also compared Moderna's combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64. In both age groups, a single dose of Moderna's combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable. The most common side effects were injection site pain, fatigue, muscle pain and headache. The majority of those effects were mild to moderate in severity. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV. Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial. Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.",CNBC,10/06/2024,"['In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial.', 'The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.', ""Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview."", 'Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year.', 'The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid.', 'Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.', 'Moderna\'s messenger RNA combination shot, called mRNA-1083, is made up of both the company\'s vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot.', 'Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials.', 'The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients.', ""The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above."", 'The trial also compared Moderna\'s combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64.In both age groups, a single dose of Moderna\'s combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable.', 'The most common side effects were injection site pain, fatigue, muscle pain and headache.', 'The majority of those effects were mild to moderate in severity.', 'Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial.', 'Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.']",0.0396964476371143,"Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",0.7456303664616176,"The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",2024-06-17 -Boeing boss Dave Calhoun admits culture 'far from perfect',https://www.bbc.co.uk/news/articles/cd11dd6e455o,2024-06-17T23:13:07.748Z,"Boeing's chief executive Dave Calhoun will tell US lawmakers on Tuesday that he understands concerns about its safety culture after a mid-air emergency in January raised alarm. In prepared remarks ahead of the US Senate sub-committee hearing, he said: ""Our culture is far from perfect, but we are taking action and making progress. We understand the gravity."" The company has been in the spotlight since an unused door fell off a brand new 737 Max plane during a flight operated by Alaska Airlines, leaving a gaping hole in its side. As part of an ongoing investigation, Boeing whistleblowers told the Senate in April that the 737 Max, the 787 Dreamliner and the 777 models had serious production issues. But concerns about Boeing's attitudes toward safety and quality control conditions in its factories are not new. The company faced intense criticism five years ago, after two 737 Max aircraft were lost in separate, but almost identical accidents, killing 346 people. Mr Calhoun is also expected to apologise to the families affected on Tuesday in what will mark his first time giving testimony in front of the panel during his time as chief executive. “We are deeply sorry for your losses,” his prepared opening comment says. “Nothing is more important than the safety of the people who step on board our airplanes."" He became chief executive of Boeing in 2020 when the company was reeling from the aftermath of the fatal crashes. In October 2018, the Lion Air crash led to a temporary grounding of the Boeing 737 Max. All 189 people on the flight died after the aircraft crashed into the Java Sea 13 minutes after take-off from Jakarta, Indonesia. In March 2019, an Ethiopian Airlines flight, which was a Boeing 737 Max, crashed six minutes after take-off from the Ethiopian capital of Addis Ababa. All 157 on-board were killed and both these crashes were linked to faulty flight control systems. Since the 2018 and 2019 incidents, family members of those killed, some of whom are still working to resolve legal claims against the firm, have spoken out. Several are planning to attend the hearing on Tuesday. Zipporah Kuria, who lost her father in the 2019 crash, is one of them. ""I flew from England to Washington, DC, to hear in person what the Boeing chief executive has to say to the Senate and to the world about any safety improvements made at that corporation,"" she said in a statement ahead of the hearing. ""We will not rest until we see justice,"" she added. Speaking ahead of the hearing on Tuesday, Senator Richard Blumenthal, who chairs the panel, said in a statement: ""Boeing must repair a broken safety culture and that is management's task ahead."" ""Years of putting profits ahead of safety, stock price ahead of quality, and production speed ahead of responsibility has brought Boeing to this moment of reckoning, and its hollow promises can no longer stand,"" he added. Dave Calhoun, the outgoing Boeing chief executive who has also served as its president for the last four years, also said in his prepared remarks that it was ""thankful"" there were no fatalities during the Alaska Airlines incident. ""I come from this industry, and I know full well that this is an industry where we simply must get it right, every time,"" he wrote. He also added that in the wake of the incident, the company has co-operated with investigations by US authorities, as well as listening to employees and holding ""stand downs"" in plants to address any potential issues. In May, the company also presented regulators with a plan aimed at improving the quality of its aircraft. ",BBC,17/06/2024,"[""Boeing's chief executive Dave Calhoun will tell US lawmakers on Tuesday that he understands concerns about its safety culture after a mid-air emergency in January raised alarm."", 'In prepared remarks ahead of the US Senate sub-committee hearing, he said: ""Our culture is far from perfect, but we are taking action and making progress.', 'We understand the gravity.""', 'The company has been in the spotlight since an unused door fell off a brand new 737 Max plane during a flight operated by Alaska Airlines, leaving a gaping hole in its side.', 'As part of an ongoing investigation, Boeing whistleblowers told the Senate in April that the 737 Max, the 787 Dreamliner and the 777 models had serious production issues.', ""But concerns about Boeing's attitudes toward safety and quality control conditions in its factories are not new."", 'The company faced intense criticism five years ago, after two 737 Max aircraft were lost in separate, but almost identical accidents, killing 346 people.', 'Mr Calhoun is also expected to apologise to the families affected on Tuesday in what will mark his first time giving testimony in front of the panel during his time as chief executive. “', 'We are deeply sorry for your losses,” his prepared opening comment says. “', 'Nothing is more important than the safety of the people who step on board our airplanes.""', 'He became chief executive of Boeing in 2020 when the company was reeling from the aftermath of the fatal crashes.', 'In October 2018, the Lion Air crash led to a temporary grounding of the Boeing 737 Max.', 'All 189 people on the flight died after the aircraft crashed into the Java Sea 13 minutes after take-off from Jakarta, Indonesia.', 'In March 2019, an Ethiopian Airlines flight, which was a Boeing 737 Max, crashed six minutes after take-off from the Ethiopian capital of Addis Ababa.', 'All 157 on-board were killed and both these crashes were linked to faulty flight control systems.', 'Since the 2018 and 2019 incidents, family members of those killed, some of whom are still working to resolve legal claims against the firm, have spoken out.', 'Several are planning to attend the hearing on Tuesday.', 'Zipporah Kuria, who lost her father in the 2019 crash, is one of them. ""', 'I flew from England to Washington, DC, to hear in person what the Boeing chief executive has to say to the Senate and to the world about any safety improvements made at that corporation,"" she said in a statement ahead of the hearing. ""', 'We will not rest until we see justice,"" she added.', 'Speaking ahead of the hearing on Tuesday, Senator Richard Blumenthal, who chairs the panel, said in a statement: ""Boeing must repair a broken safety culture and that is management\'s task ahead."" ""', 'Years of putting profits ahead of safety, stock price ahead of quality, and production speed ahead of responsibility has brought Boeing to this moment of reckoning, and its hollow promises can no longer stand,"" he added.', 'Dave Calhoun, the outgoing Boeing chief executive who has also served as its president for the last four years, also said in his prepared remarks that it was ""thankful"" there were no fatalities during the Alaska Airlines incident. ""', 'I come from this industry, and I know full well that this is an industry where we simply must get it right, every time,"" he wrote.', 'He also added that in the wake of the incident, the company has co-operated with investigations by US authorities, as well as listening to employees and holding ""stand downs"" in plants to address any potential issues.', 'In May, the company also presented regulators with a plan aimed at improving the quality of its aircraft.']",0.007921354267662,"In prepared remarks ahead of the US Senate sub-committee hearing, he said: ""Our culture is far from perfect, but we are taking action and making progress.","The company faced intense criticism five years ago, after two 737 Max aircraft were lost in separate, but almost identical accidents, killing 346 people.",-0.4066596356305209,"In May, the company also presented regulators with a plan aimed at improving the quality of its aircraft.","Years of putting profits ahead of safety, stock price ahead of quality, and production speed ahead of responsibility has brought Boeing to this moment of reckoning, and its hollow promises can no longer stand,"" he added.",2024-06-17 -Southwest CEO vows change as activist investor pushes for new leadership,https://www.cnbc.com/2024/06/12/southwest-ceo-vows-change-amid-activist-pressure.html,2024-06-12T16:53:03+0000,"In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.""We will adapt as our customers' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman.In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation."" He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday.Southwest on Monday said in response to the activist campaign that its board backed the company's leaders and the airline's strategy, while it will also ""look forward to further conversations with Elliott.""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises. The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion. The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system.Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience. It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years.""I think customer preference is going beyond that,"" Jordan said Wednesday. The carrier has spent months surveying customers to figure out what changes are needed, he added.""It's been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""We are also studying the operational and financial benefits of any potential change.""— CNBC's Rohan Goswami contributed to this article.",CNBC,12/06/2024,"['In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.', '""We will adapt as our customers\' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.', ""Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman."", 'In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.', 'Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation.""', ""He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks."", ""Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday."", 'Southwest on Monday said in response to the activist campaign that its board backed the company\'s leaders and the airline\'s strategy, while it will also ""look forward to further conversations with Elliott.', '""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.', 'The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.', 'Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion.', ""The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system."", 'Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience.', ""It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years."", '""I think customer preference is going beyond that,"" Jordan said Wednesday.', 'The carrier has spent months surveying customers to figure out what changes are needed, he added.', '""It\'s been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""', 'We are also studying the operational and financial benefits of any potential change.""—', ""CNBC's Rohan Goswami contributed to this article.""]",0.1227597138954453,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.",-0.1408947110176086,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.",2024-06-17 -Alan Bates learned of Birthday Honours knighthood as Post Office boss was grilled,https://www.bbc.co.uk/news/articles/c722kzgp90lo,2024-06-14T21:30:48.540Z,"The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours. He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC. He was told that he had to let the Honours Committee know by the end of the day whether he would accept. For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts. He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer. Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.' And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said. He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “I think it’s another string to my bow to try and drive the rest of the campaign home. We have got to get funding for everybody. And that’s been my priority now for some time. And if it helps there, then great. It’s wonderful.” Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “I think the nation will support us if we have to go ahead with another case,” he said. The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998. Had he ever thought about giving up and letting it go? “I could never do that. We’ve all seen the horror stories, and there are so many. I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told. I mean, they’re absolutely diabolical. ""What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.” He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer. Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”. ",BBC,14/06/2024,"[""The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours."", 'He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “', 'It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC.', 'He was told that he had to let the Honours Committee know by the end of the day whether he would accept.', 'For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts.', 'He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.', 'Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “', ""I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.'"", 'And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said.', 'He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “', 'I think it’s another string to my bow to try and drive the rest of the campaign home.', 'We have got to get funding for everybody.', 'And that’s been my priority now for some time.', 'And if it helps there, then great.', 'It’s wonderful.”', 'Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “', 'I think the nation will support us if we have to go ahead with another case,” he said.', ""The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998."", 'Had he ever thought about giving up and letting it go? “', 'I could never do that.', 'We’ve all seen the horror stories, and there are so many.', 'I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told.', 'I mean, they’re absolutely diabolical. ""', 'What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.”', 'He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer.', 'Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”.']",0.07220490206195,"He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “",Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “,0.3621529340744018,"And if it helps there, then great.","He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.",2024-06-17 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-06-17 -America’s top central banker says the job market is back to normal. Is that right?,https://edition.cnn.com/2024/06/16/economy/stocks-week-ahead-us-job-market-normal/index.html," - Published - 7:30 AM EDT, Sun June 16, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. But that assertion may not be exactly right, according to ZipRecruiter’s chief economist. - - “Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year. - - The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show. The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022. - - Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic. The rate at which Americans are quitting their jobs is also back to pre-pandemic levels. - - It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020. Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.” - - However, the 2024 job market differs from 2019 in a few key ways. And those factors may not change anytime soon. - - Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. - - (This interview has been edited for length and clarity.) - - Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? - - Julia Pollak: No, I would say that this is not quite the same normal. It’s a new normal, and there are some key differences. We’re still adding employees faster than 2019. But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower. - - Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs. Now, is that necessarily a bad thing? It’s not clear. - - Why is the job market slower now? - - High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking. They’re not hiring new grads at the same rate, they seem quite reluctant to do so. It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates. - - The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs. People are eager to hang on to their job that gives them flexibility. I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition. - - Unlike in 2019, there is more remote work and more flexible work. Remote and hybrid work are like five times bigger than they were before the pandemic. That’s here to stay. - - But what about this persistently wide gap between job openings and the number of unemployed folks seeking work? - - I think there’s reason to believe the labor market is actually less tight now than it was in 2019. The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count. - - You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey]. - - It seems like we are systematically over-counting openings by more and more each year for some reason. - - Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports. - - President Emmanuel Macron called the snap elections a week ago after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - Read more here. - - Monday: Earnings from Lennar and La-Z-Boy. Fed officials Patrick Harker and Lisa Cook deliver remarks. The New York Fed releases its Empire State Manufacturing Index for June. - - Tuesday: The Reserve Bank of Australia announces its latest interest rate decision. The US Commerce Department releases May figures on retail sales and reports business inventories in April. The Federal Reserve releases May data on industrial production. Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks. Japan releases May data on trade flows. - - Wednesday: The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June. - - Thursday: Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s. The Bank of England announces its latest interest rate decision. The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter. The US Labor Department reports on the number of new applications for unemployment in the week ending June 15. The Philadelphia Fed releases its Manufacturing Index for June. Richmond Fed President Tom Barkin delivers remarks. - - Friday: Earnings from CarMax. S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors. The National Association of Realtors reports existing home sales in May.",CNN,16/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society.', 'But that assertion may not be exactly right, according to ZipRecruiter’s chief economist.', '“Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year.', 'The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.', 'The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022.', 'Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic.', 'The rate at which Americans are quitting their jobs is also back to pre-pandemic levels.', 'It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020.', 'Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.”', 'However, the 2024 job market differs from 2019 in a few key ways.', 'And those factors may not change anytime soon.', 'Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market.', '(This interview has been edited for length and clarity.)', 'Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal?', 'Julia Pollak: No, I would say that this is not quite the same normal.', 'It’s a new normal, and there are some key differences.', 'We’re still adding employees faster than 2019.', 'But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower.', 'Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs.', 'Now, is that necessarily a bad thing?', 'It’s not clear.', 'Why is the job market slower now?', 'High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking.', 'They’re not hiring new grads at the same rate, they seem quite reluctant to do so.', 'It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates.', 'The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs.', 'People are eager to hang on to their job that gives them flexibility.', 'I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition.', 'Unlike in 2019, there is more remote work and more flexible work.', 'Remote and hybrid work are like five times bigger than they were before the pandemic.', 'That’s here to stay.', 'But what about this persistently wide gap between job openings and the number of unemployed folks seeking work?', 'I think there’s reason to believe the labor market is actually less tight now than it was in 2019.', 'The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.', 'You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey].', 'It seems like we are systematically over-counting openings by more and more each year for some reason.', 'Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports.', 'President Emmanuel Macron called the snap elections a week ago after his party lost to thefar right in a vote for EU lawmakers, a shock move thatrattledmarkets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.', 'Read more here.', 'Monday:Earnings from Lennar and La-Z-Boy.', 'Fed officials Patrick Harker and Lisa Cook deliver remarks.', 'The New York Fed releases its Empire State Manufacturing Index for June.', 'Tuesday:The Reserve Bank of Australia announces its latest interest rate decision.', 'The US Commerce Department releases May figures on retail sales and reports business inventories in April.', 'The Federal Reserve releases May data on industrial production.', 'Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks.', 'Japan releases May data on trade flows.', 'Wednesday:The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June.', 'Thursday:Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s.', 'The Bank of England announces its latest interest rate decision.', 'The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter.', 'The US Labor Department reports on the number of new applications for unemployment in the week ending June 15.', 'The Philadelphia Fed releases its Manufacturing Index for June.', 'Richmond Fed President Tom Barkin delivers remarks.', 'Friday:Earnings from CarMax.', 'S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors.', 'The National Association of Realtors reports existing home sales in May.']",0.0119642752697554,"There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.,-0.0309852843101208,"The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.",Why is the job market slower now?,2024-06-17 -Hot dog eating champ Joey Chestnut barred from competing in this year’s contest,https://edition.cnn.com/2024/06/11/business/nathans-hot-dog-joey-chestnut-banned-impossible/index.html," - Updated - 10:24 AM EDT, Wed June 12, 2024 - ","Dynastic hot dog eating champion Joey Chestnut will not compete in this year’s Nathan’s hot dog eating contest after he struck a deal with plant-based food company Impossible Foods. - - “We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement. - - Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods. - - MLE co-founder George Shea said the company tried to accommodate Chestnut and his management team, which included allowing him to compete in a rival unbranded hot dog eating contest on Labor Day. - - “It’s a long-standing rule not to represent a rival brand,” Shea said. “Michael Jordan can’t go to Adidas and say that Air Jordans are great.” - - The MLE has also emphasized that Chestnut was not banned for life from competing, citing his 20-year relationship with the league. The organization said that to come back Chestnut must renounce deals with brands that rival Nathan’s. - - “Joey Chestnut is an American hero. We would love nothing more than to have him at Nathan’s Famous International Hot Dog Eating Contest, which he has dominated for years. We hope that he returns when he is not representing a rival brand,” the MLE said in a statement. - - An account under Chestnut’s name wrote on X Tuesday that he does “not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.” - - CNN has not independently confirmed the authenticity of the X account. - - This is not the first instance of Nathan’s beefing with their winners. Chestnut’s rival and former reigning champion Takeru Kobayashi did not compete in the 2010 contest, reportedly due to disputes with the company over getting him to sign an exclusive contract. - - An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses. It’s OK to experiment with a new dog. Meat eaters shouldn’t have to be exclusive to just one wiener.” - - Joey Chestnut, Nathan’s and its parent company, Smithfield Foods, did not reply to requests for comment.",CNN,12/06/2024,"['Dynastic hot dog eating champion Joey Chestnut will not compete in this year’s Nathan’s hot dog eating contest after he struck a deal with plant-based food company Impossible Foods.', '“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.', 'Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.', 'MLE co-founder George Shea said the company tried to accommodate Chestnut and his management team, which included allowing him to compete in a rival unbranded hot dog eating contest on Labor Day.', '“It’s a long-standing rule not to represent a rival brand,” Shea said. “', 'Michael Jordan can’t go to Adidas and say that Air Jordans are great.”', 'The MLE has also emphasized that Chestnut was not banned for life from competing, citing his 20-year relationship with the league.', 'The organization said that to come back Chestnut must renounce deals with brands that rival Nathan’s.', '“Joey Chestnut is an American hero.', 'We would love nothing more than to have him at Nathan’s Famous International Hot Dog Eating Contest, which he has dominated for years.', 'We hope that he returns when he is not representing a rival brand,” the MLE said in a statement.', 'An account under Chestnut’s name wrote on X Tuesday that he does “not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.”', 'CNN has not independently confirmed the authenticity of the X account.', 'This is not the first instance of Nathan’s beefing with their winners.', 'Chestnut’s rival and former reigning champion Takeru Kobayashi did not compete in the 2010 contest, reportedly due to disputes with the company over getting him to sign an exclusive contract.', 'An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses.', 'It’s OK to experiment with a new dog.', 'Meat eaters shouldn’t have to be exclusive to just one wiener.”', 'Joey Chestnut, Nathan’s and its parent company, Smithfield Foods, did not reply to requests for comment.']",0.2868838272411839,"An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses.","“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.",-0.3391079505284627,"Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.","“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.",2024-06-17 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-06-17 -Green energy plan 'won't benefit' Welsh valley residents,https://www.bbc.co.uk/news/articles/cxwwdpgdjeyo,2024-06-17T15:44:05.665Z,"From the end of Dina Smith’s driveway, there is green as far as the eye can see. Sunlight touches the rolling hills and moorland peaks. ""Just look at it,"" she says as we take it all in. ""This is beautiful, untouched Mid Wales."" But this could all change if plans for a huge wind turbine project get the go-ahead. For Dina, the valley is a ""really special place"", where her, her daughters and their families live and where her grandfather grew up. In the run-up to the general election, she contacted the BBC through the Your Voice, Your Vote portal with her concerns: ""I just don’t want my grandchildren looking around this valley with industrial views of turbines and pylons and roads, and ask: 'What did you do about it nanna?'"". The Towy Usk project is being proposed by the renewable energy firm Green GEN Cymru and would take power from 31 giant turbines on a 60-mile pylon ""pathway"" spanning almost the width of Wales, in order to connect to the national grid. Although it is the local council and Welsh government who grant planning permission, the reason the power lines have to run such a long way is that there are a limited number of points, which are controlled by UK government, where big power projects can connect into the grid. And whoever is in charge of the next government has an incredibly difficult task on their hands: keeping energy bills low while millions are still struggling, ensuring energy security and hitting green energy targets. Projects like this one in Wales are part of that mix. But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. ""It’s destroying the environment in an attempt to save the environment"" is the refrain that I keep hearing. In recent years, there have been huge advances in the development of off-shore wind, and residents here want the focus of the UK and Welsh government on off-shore renewable technology instead. But Abi Beck of RenewableUK Cymru says on-shore wind needs to remain part of the mix. “On-shore wind is the cheapest, it’s the quickest to build and it’s the most readily deployable technology we have for renewable energy. ""And we desperately need to upscale the amount of renewable energy we produce if we are going to be anywhere near meeting our targets in the next decade"", she said. The difficulty here is that the place the on-shore wind is generated is a very long way from the place it can be plugged into the UK network. Green GEN Cymru says it is listening to residents' concerns but that “the existing network in Mid and West Wales does not have nearly enough capacity to connect all the new renewable energy we need for our homes and businesses, locally and nationally"". Llandovery farmer Dyfan Walters knows that only too well. ""We all know the infrastructure needs improving”, he says. ""I’m not against renewable energy"". He and his wife, Carys, have just finished building their family farm on the land Carys grew up on. Now there are plans for two pylons in their fields so they’ve become members of the local Llandovery Pylon Steering Group. ""This plan isn’t going to benefit anyone here in the Towy Valley,"" Dyfan says. ""It’s to take energy to the grid which will be used by others"". As a result, Dyfan thinks Green GEN should use the latest technology to send the wires underground rather than use pylons, whatever the cost might be to the company. That is the bind - those living in the valley feel they are being made to pay the price for green targets made more than 200 miles away in Westminster. Labour says it will work with the private sector to double on-shore wind, triple solar power and quadruple off-shore wind by 2030. The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities. It says it seeks to ensure local areas that host on-shore wind directly benefit, including potentially through energy bill discounts. The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power. Plaid Cymru says Wales should have full control over energy powers without any upper limit or conditions set by the UK government, and ""that the beauty of Wales’ natural landscape should be preserved"". It says that large-scale pylon developments or solar developments should be considered in the context of their impact and alternative methods for linking renewable energy to the national grid should be implemented, including through the undergrounding of cables. Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure. It says the environment can be protected with more tree planting, more recycling and using less single-use plastics. The Green party wants wind power to provide about 70% of the UK’s electricity by 2030. The SNP says it is committed to ensuring that at least 50% of energy consumption comes from renewable sources by 2030. It would do so ""by striking a balance between appropriate developments and our natural environment"", it says. ",BBC,17/06/2024,"['From the end of Dina Smith’s driveway, there is green as far as the eye can see.', 'Sunlight touches the rolling hills and moorland peaks. ""', 'Just look at it,"" she says as we take it all in. ""', 'This is beautiful, untouched Mid Wales.""', 'But this could all change if plans for a huge wind turbine project get the go-ahead.', 'For Dina, the valley is a ""really special place"", where her, her daughters and their families live and where her grandfather grew up.', 'In the run-up to the general election, she contacted the BBC through the Your Voice, Your Vote portal with her concerns: ""I just don’t want my grandchildren looking around this valley with industrial views of turbines and pylons and roads, and ask: \'What did you do about it nanna?\'"".', 'The Towy Usk project is being proposed by the renewable energy firm Green GEN Cymru and would take power from 31 giant turbines on a 60-mile pylon ""pathway"" spanning almost the width of Wales, in order to connect to the national grid.', 'Although it is the local council and Welsh government who grant planning permission, the reason the power lines have to run such a long way is that there are a limited number of points, which are controlled by UK government, where big power projects can connect into the grid.', 'And whoever is in charge of the next government has an incredibly difficult task on their hands: keeping energy bills low while millions are still struggling, ensuring energy security and hitting green energy targets.', 'Projects like this one in Wales are part of that mix.', 'But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. ""', 'It’s destroying the environment in an attempt to save the environment"" is the refrain that I keep hearing.', 'In recent years, there have been huge advances in the development of off-shore wind, and residents here want the focus of the UK and Welsh government on off-shore renewable technology instead.', 'But Abi Beck of RenewableUK Cymru says on-shore wind needs to remain part of the mix. “', 'On-shore wind is the cheapest, it’s the quickest to build and it’s the most readily deployable technology we have for renewable energy. ""', 'And we desperately need to upscale the amount of renewable energy we produce if we are going to be anywhere near meeting our targets in the next decade"", she said.', 'The difficulty here is that the place the on-shore wind is generated is a very long way from the place it can be plugged into the UK network.', 'Green GEN Cymru says it is listening to residents\' concerns but that “the existing network in Mid and West Wales does not have nearly enough capacity to connect all the new renewable energy we need for our homes and businesses, locally and nationally"".', 'Llandovery farmer Dyfan Walters knows that only too well. ""', 'We all know the infrastructure needs improving”, he says. ""', 'I’m not against renewable energy"".', 'He and his wife, Carys, have just finished building their family farm on the land Carys grew up on.', 'Now there are plans for two pylons in their fields so they’ve become members of the local Llandovery Pylon Steering Group. ""', 'This plan isn’t going to benefit anyone here in the Towy Valley,"" Dyfan says. ""', 'It’s to take energy to the grid which will be used by others"".', 'As a result, Dyfan thinks Green GEN should use the latest technology to send the wires underground rather than use pylons, whatever the cost might be to the company.', 'That is the bind - those living in the valley feel they are being made to pay the price for green targets made more than 200 miles away in Westminster.', 'Labour says it will work with the private sector to double on-shore wind, triple solar power and quadruple off-shore wind by 2030.', 'The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities.', 'It says it seeks to ensure local areas that host on-shore wind directly benefit, including potentially through energy bill discounts.', 'The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power.', 'Plaid Cymru says Wales should have full control over energy powers without any upper limit or conditions set by the UK government, and ""that the beauty of Wales’ natural landscape should be preserved"".', 'It says that large-scale pylon developments or solar developments should be considered in the context of their impact and alternative methods for linking renewable energy to the national grid should be implemented, including through the undergrounding of cables.', 'Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure.', 'It says the environment can be protected with more tree planting, more recycling and using less single-use plastics.', 'The Green party wants wind power to provide about 70% of the UK’s electricity by 2030.', 'The SNP says it is committed to ensuring that at least 50% of energy consumption comes from renewable sources by 2030.', 'It would do so ""by striking a balance between appropriate developments and our natural environment"", it says.']",0.2267821841939884,"The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities.","But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. """,0.2772058790380304,The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power.,"Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure.",2024-06-17 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-06-17 -‘They’re treating us like we’re spies’: Florida property ban has Chinese citizens fuming,https://edition.cnn.com/2024/06/17/homes/florida-law-bans-chinese-citizens-buying-homes/index.html," - Published - 12:01 AM EDT, Mon June 17, 2024 - ","After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida. Then, he was told the purchase might get him prison time. - - “That was really shocking to me. It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “Once I learned that, I didn’t even bother to look anymore.” - - Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers. For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state. - - Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state. Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether. And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year. - - Bian said that lately, he had begun reconsidering his life in Florida. He isn’t alone. Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state. Sellers and real estate agents can also be found liable under the law. - - “We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “We feel like we’re not welcome.” - - Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida. - - For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state. - - “Florida is taking action to stand against the United States’ greatest geopolitical threat — the Chinese Communist Party (CCP),” DeSantis said in a statement last year. - - The law is currently being challenged in court, but several other states are considering similar laws. - - “Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “We think this is a form of discrimination based on race, based on national origin and based on visa status.” - - Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act. He says there should be a distinction made between the CCP and Chinese nationals. - - The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.” But the term “domiciled” isn’t fully defined in the law’s language. - - Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill. - - Like Bian, Li had been searching for a new home when the law passed. Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications. - - “I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “No matter if I have a green card or I’m a citizen, I still have a Chinese face.” - - The controversial law comes at a time when relations between the US and China have grown increasingly tense. - - Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US. - - In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat. According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US. - - “The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “That’s common sense.” - - To Bian, accusations of spying are offensive. - - “We’re ordinary people. We don’t talk about these political things,” he said. “I think 99.99% of people here just want to have a good life.” - - Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty. Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions. - - “The law has caused us so much confusion,” she said. “It definitely hurts business.” - - Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents. - - “People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “It’s very unfair and also very un-American.” - - Jin, who is a citizen, said she plans to stay in Florida. But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books. - - Li said she will likely leave Florida after her daughter goes off to college. Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California. - - “I don’t think California will ever have this kind of law.”",CNN,17/06/2024,"['After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida.', 'Then, he was told the purchase might get him prison time.', '“That was really shocking to me.', 'It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “', 'Once I learned that, I didn’t even bother to look anymore.”', 'Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers.', 'For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state.', 'Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state.', 'Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether.', 'And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year.', 'Bian said that lately,he had begun reconsidering his life in Florida.', 'He isn’t alone.', 'Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.', 'Sellers and real estate agents can also be found liable under the law.', '“We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “', 'We feel like we’re not welcome.”', 'Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida.', 'For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state.', '“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.', 'The law is currently being challenged in court, but several other states are considering similar laws.', '“Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “', 'We think this is a form of discrimination based on race, based on national origin and based on visa status.”', 'Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act.', 'He says there should be a distinction made between the CCP and Chinese nationals.', 'The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.”', 'But the term “domiciled” isn’t fully defined in the law’s language.', 'Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill.', 'Like Bian, Li had been searching for a new home when the law passed.', 'Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications.', '“I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “', 'No matter if I have a green card or I’m a citizen, I still have a Chinese face.”', 'The controversial law comes at a time when relations between the US and China have grown increasingly tense.', 'Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US.', 'In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat.', 'According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US.', '“The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “', 'That’s common sense.”', 'To Bian, accusations of spying are offensive.', '“We’re ordinary people.', 'We don’t talk about these political things,” he said. “', 'I think 99.99% of people here just want to have a good life.”', 'Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty.', 'Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.', '“The law has caused us so much confusion,” she said. “', 'It definitely hurts business.”', 'Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents.', '“People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “', 'It’s very unfair and also very un-American.”', 'Jin, who is a citizen, said she plans to stay in Florida.', 'But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books.', 'Li said she will likely leave Florida after her daughter goes off to college.', 'Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California.', '“I don’t think California will ever have this kind of law.”']",-0.1188935252580385,"“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.","Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.",-0.6851268793855395,Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.,It definitely hurts business.”,2024-06-17 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-06-17 -Wizz Air ranked worst airline for delays for third year,https://www.bbc.co.uk/news/articles/clddx2q7y7go,2024-06-13T13:41:22.892Z,"Wizz Air has been named the worst airline for UK flight delays for the third year in a row. The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency. Turkish Airlines recorded the second worst punctuality followed by Tui. The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes. Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"". The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights. Cancelled flights were not included. After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds. Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"". She added that research by Which? showed the airline was also falling short on the quality of customer service experienced by passengers. ""Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive' prices across a variety of popular routes,"" she added. Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports. Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year. Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector. A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers."" Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry. He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK. Punctuality has ""continued to exponentially improve"" this year, he said. ",BBC,13/06/2024,"['Wizz Air has been named the worst airline for UK flight delays for the third year in a row.', ""The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency."", 'Turkish Airlines recorded the second worst punctuality followed by Tui.', 'The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes.', 'Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"".', 'The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights.', 'Cancelled flights were not included.', 'After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.', 'Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"".', 'She added that research by Which?', 'showed the airline was also falling short on the quality of customer service experienced by passengers. ""', 'Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive\' prices across a variety of popular routes,"" she added.', ""Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports."", 'Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year.', 'Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector.', 'A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""', 'Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""', 'Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry.', ""He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK."", 'Punctuality has ""continued to exponentially improve"" this year, he said.']",-0.0568331509592643,"Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""","After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.",-0.0617415785789489,"Punctuality has ""continued to exponentially improve"" this year, he said.",Wizz Air has been named the worst airline for UK flight delays for the third year in a row.,2024-06-17 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-06-17 -"Inflation slowed in May, hinting at welcome relief for consumers",https://edition.cnn.com/2024/06/12/economy/consumer-price-index-inflation-may/index.html," - Updated - 10:52 AM EDT, Wed June 12, 2024 - ","Inflation cooled more than expected in May, new data showed Wednesday, delivering a welcome piece of news just hours before the Federal Reserve is set to make its latest announcement on interest rates. - - Consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, according to the Bureau of Labor Statistics’ latest Consumer Price Index report released Wednesday. - - On a monthly basis, prices held flat for the first time since July 2022. Falling gas prices kept inflation in check following a 0.3% gain in April. - - “This is the best news we could’ve gotten this morning,” Philip T. Powell, executive director of the Indiana Business Research Center and clinical associate professor at the Indiana University Kelley School of Business, told CNN. “The Federal Reserve has been watching to make sure this [monthly] number came in below 0.2%.” - - “If it did, that means inflation is going to come down, which means [the Fed] could lower interest rates,” he added. - - Economists were expecting a 0.1% monthly increase and an annual gain of 3.4%, according to FactSet consensus estimates. - - Helping to slow inflation in May were falling gas prices, which dropped 3.6% from April. They’re still up 2.2% for the year. Grocery prices were flat and overall food prices went up by 0.1%, lifted by a slight acceleration in inflation at the restaurant level. - - Excluding gas and food, categories that tend to be volatile, the closely watched “core” measure rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low. - - “Adding to the good inflation news, core services inflation (excludes energy services) printed its mildest monthly increase since September 2021,” Kathy Bostjancic, Nationwide’s chief economist, wrote in a note issued Wednesday. “This is significant since core services inflation has been very sticky and the key reason overall inflation has not cooled more quickly.” - - However, shelter inflation more than offset the decline in gasoline, rising 0.4% for the fourth month in a row, underscoring the pressure Americans are feeling from housing-related expenses. On an annual basis, shelter inflation slowed a tenth of a percentage point to 5.4%, which is its lowest rate since April 2022. However, in addition to outpacing overall inflation, the cost of shelter is running above its pre-pandemic average and the 3.3% rate in February 2020. - - The shelter index, an abstruse measurement of housing costs, has been the thorn in the side of the Fed’s desire to see overall inflation return to target. (That target, by the way, is based on a separate inflation gauge, the Personal Consumption Expenditures price index, which stayed pat at 2.7% in April.) - - Shelter’s heavily weighted in the CPI, and while it doesn’t fully reflect some of the slowdown seen in market-rate rents, its persistently high readings certainly do speak to the pain Americans are feeling in their biggest monthly expense. - - “The one thing that sticks out in these numbers is the continued struggle with housing affordability,” Indiana University’s Powell said. “There is so much pent-up demand out there for housing, it’s not going to go away.” - - Transportation services prices fell for the first time since the fall of 2021, dropping 0.5% for the month. And motor vehicle insurance prices ticked down by 0.1%, a sharp contrast from the spikes seen during the past two months. - - Still, those costs continue to run hot for consumers, with transportation services prices up 10.5% from a year ago and car insurance up 20.3%. - - “The big and important things that households spend their money on — food, transportation and shelter — there’s not been a lot of relief there,” Sean Snaith, University of Central Florida economist, told CNN. - - The CPI, which tracks average change in prices for a basket of goods and services common to consumers, is the most widely cited inflation metric. - - But on Wednesday, it was merely the opening act. - - The report landed just hours before the Fed was scheduled to wrap up its policymaking meeting, deliver its latest economic projections, and announce the next steps for interest rates. - - Although the softer CPI likely will be welcomed by central bankers, economists say it won’t be enough to move the needle on interest rates, which are overwhelmingly expected to hold steady Wednesday (markets are seeing a mere 0.1% probability of a June cut). - - “Logically, then, today’s news would seem to open the door to a July rate cut, although we still think that’s very unlikely given hawkish rhetoric from the Fed recently,” Preston Caldwell, chief US economist at Morningstar, wrote Wednesday. “But rate cuts starting by September should now be cemented as overwhelmingly likely.” - - Traders seem to agree: The latest projections from the CME FedWatch Tool had the likelihood of a September rate cut at nearly 63% on Wednesday morning, jumping from 46.8% Tuesday. - - The Fed on Wednesday is expected to tip its hand some with the release of the latest Summary of Economic Projections (SEP). The quarterly publication includes the central bankers’ forecasts for key economic indicators such as inflation, GDP growth and unemployment as well as the “dot plot,” a chart of their expectations for interest rates. - - When the Fed released its prior SEP back in March, it showed the possibility of three cuts penciled in for the remainder of the year. - - Economists expect that number to drop, given that there are fewer months left on that runway and still fairly strong economic data touching down (be it the hotter-than-expected inflation reports to start the year or the stronger-than-expected job gains). - - “The CPI report for May came in a bit better than we dared hope for given the string of disappointing readings to start the year,” Scott Anderson, chief US economist for BMO Bank, wrote in a note Wednesday. “If sustained, it will keep Fed rate-cut expectations that we have penciled in for September and December alive and well. Restrictive monetary policy has more work to do, and the Fed will remain patient and watchful.”",CNN,12/06/2024,"['Inflation cooled more than expected in May, new data showed Wednesday, delivering a welcome piece of news just hours before the Federal Reserve is set to make its latest announcement on interest rates.', 'Consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, according to the Bureau of Labor Statistics’ latest Consumer Price Index report released Wednesday.', 'On a monthly basis, prices held flat for the first time since July 2022.', 'Falling gas prices kept inflation in check following a 0.3% gain in April.', '“This is the best news we could’ve gotten this morning,” Philip T. Powell, executive director of the Indiana Business Research Center and clinical associate professor at the Indiana University Kelley School of Business, told CNN. “', 'The Federal Reserve has been watching to make sure this [monthly] number came in below 0.2%.”', '“If it did, that means inflation is going to come down, which means [the Fed] could lower interest rates,” he added.', 'Economists were expecting a 0.1% monthly increase and an annual gain of 3.4%, according to FactSet consensus estimates.', 'Helping to slow inflation in May were falling gas prices, which dropped 3.6% from April.', 'They’re still up 2.2% for the year.', 'Grocery prices were flat and overall food prices went up by 0.1%, lifted by a slight acceleration in inflation at the restaurant level.', 'Excluding gas and food, categories that tend to be volatile, the closely watched “core” measure rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low.', '“Adding to the good inflation news, core services inflation (excludes energy services) printed its mildest monthly increase since September 2021,” Kathy Bostjancic, Nationwide’s chief economist, wrote in a note issued Wednesday. “', 'This is significant since core services inflation has been very sticky and the key reason overall inflation has not cooled more quickly.”', 'However, shelter inflation more than offset the decline in gasoline, rising 0.4% for the fourth month in a row, underscoring the pressure Americans are feeling fromhousing-related expenses.', 'On an annual basis, shelter inflation slowed a tenth of a percentage point to 5.4%, which is its lowest rate since April 2022.', 'However, in addition to outpacing overall inflation, the cost of shelter is running above its pre-pandemic average and the 3.3% rate in February 2020.', 'The shelter index, an abstruse measurement of housing costs, has been the thorn in the side of the Fed’s desire to see overall inflation return to target. (', 'That target, by the way, is based on a separate inflation gauge, the Personal Consumption Expenditures price index, which stayed pat at 2.7% in April.)', 'Shelter’s heavily weighted in the CPI, and while it doesn’t fully reflect some of the slowdown seen in market-rate rents, its persistently high readings certainly do speak to the pain Americans are feeling in their biggest monthly expense.', '“The one thing that sticks out in these numbers is the continued struggle with housing affordability,” Indiana University’s Powell said. “', 'There is so much pent-up demand out there for housing, it’s not going to go away.”', 'Transportation services prices fell for the first time since the fall of 2021, dropping 0.5% for the month.', 'And motor vehicle insurance prices ticked down by 0.1%, a sharp contrast from the spikes seen during the past two months.', 'Still, those costs continue to run hot for consumers, with transportation services prices up 10.5% from a year ago and car insurance up 20.3%.', '“The big and important things that households spend their money on — food, transportation and shelter — there’s not been a lot of relief there,” Sean Snaith, University of Central Florida economist, told CNN.', 'The CPI, which tracks average change in prices for a basket of goods and services common to consumers, is the most widely cited inflation metric.', 'But on Wednesday, it was merely the opening act.', 'The report landed just hours before the Fed was scheduled to wrap up its policymaking meeting, deliver its latest economic projections, and announce the next steps for interest rates.', 'Although the softer CPI likely will be welcomed by central bankers, economists say it won’t be enough to move the needle on interest rates, which are overwhelmingly expected to hold steady Wednesday (markets are seeing a mere 0.1% probability of a June cut).', '“Logically, then, today’s news would seem to open the door to a July rate cut, although we still think that’s very unlikely given hawkish rhetoric from the Fed recently,” Preston Caldwell, chief US economist at Morningstar, wrote Wednesday. “', 'But rate cuts starting by September should now be cemented as overwhelmingly likely.”', 'Traders seem to agree: The latest projections from the CME FedWatch Tool had the likelihood of a September rate cut at nearly 63% on Wednesday morning, jumping from 46.8% Tuesday.', 'The Fed on Wednesday is expected to tip its hand some with the release of the latest Summary of Economic Projections (SEP).', 'The quarterly publication includes the central bankers’ forecasts for key economic indicators such as inflation, GDP growth and unemployment as well as the “dot plot,” a chart of their expectations for interest rates.', 'When the Fed released its prior SEP back in March, it showed the possibility of three cuts penciled in for the remainder of the year.', 'Economists expect that number to drop, given that there are fewer months left on that runway and still fairly strong economic data touching down (be it the hotter-than-expected inflation reports to start the year or the stronger-than-expected job gains).', '“The CPI report for May came in a bit better than we dared hope for given the string of disappointing readings to start the year,” Scott Anderson, chief US economist for BMO Bank, wrote in a note Wednesday. “', 'If sustained, it will keep Fed rate-cut expectations that we have penciled in for September and December alive and well.', 'Restrictive monetary policy has more work to do, and the Fed will remain patient and watchful.”']",0.1534549255060076,"Economists expect that number to drop, given that there are fewer months left on that runway and still fairly strong economic data touching down (be it the hotter-than-expected inflation reports to start the year or the stronger-than-expected job gains).",But rate cuts starting by September should now be cemented as overwhelmingly likely.”,0.4083089749018351,They’re still up 2.2% for the year.,"Economists expect that number to drop, given that there are fewer months left on that runway and still fairly strong economic data touching down (be it the hotter-than-expected inflation reports to start the year or the stronger-than-expected job gains).",2024-06-17 -Housing demand wanes as buyers bank on interest rate cut,https://www.bbc.co.uk/news/articles/cmllreerzmro,2024-06-13T14:18:42.842Z,"House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests. UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year. Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May. Financial markets are forecasting that the Bank of England could cut interest rates in August or September. Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year. The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected."" It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known."" The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p. A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May. Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months. However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months."" Those surveyed by RICS said that demand was weakest in both south east and south west England. In contrast, prices were still robust in Scotland and Northern Ireland. ",BBC,13/06/2024,"['House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests.', 'UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year.', 'Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.', 'Financial markets are forecasting that the Bank of England could cut interest rates in August or September.', 'Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year.', 'The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected.""', 'It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known.""', ""The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p."", 'A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May.', 'Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months.', 'However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""', 'Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""', 'Those surveyed by RICS said that demand was weakest in both south east and south west England.', 'In contrast, prices were still robust in Scotland and Northern Ireland.']",0.0614846507055062,The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p.,Those surveyed by RICS said that demand was weakest in both south east and south west England.,-0.2277548267291142,"Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""","Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.",2024-06-17 -"More than 15,000 Amazon contract drivers file legal claims asking for compensation for overtime and unpaid wages",https://edition.cnn.com/2024/06/11/business/amazon-contract-workers-file-legal-claims/index.html," - Updated - 12:40 PM EDT, Wed June 12, 2024 - ","More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights. - - Millions of Americans participate in the “gig economy,” freelancing work through delivery and ride apps like Lyft, Uber, Doordash and Instacart. But as gig work has gotten more popular, many of those workers say they are in fact employees, not just contractors, and therefore deserve more benefits and protections. - - The definition and rights of a contract worker versus an employee, for example, has been fiercely debated in laws such as California’s Prop 22, which allows ride-hailing and delivery drivers to be treated as independent contractors with some added benefits, including a minimum earnings guarantee. - - Amazon Flex, launched in 2015, allows independent contractors to sign up to deliver Amazon packages. Flex drivers provide Amazon Fresh grocery deliveries or same-day deliveries from the company’s warehouse hubs. Since the drivers are classified as independent contractors, these claims ask for compensation for unpaid wages and overtime, and reimbursement for expenses such as mileage and cell phone usage. - - Lawyers for the case said in a statement that about 450 such claims had been previously filed with the American Arbitration Association. - - Drivers from California, Massachusetts and Illinois filed claims because laws about employee misclassification are “very clear” in those states, attorney Steven Tindall told CNN. The three states also allow workers to file claims for expense reimbursement from employers, Tindall added. - - Tindall and another attorney, Joseph Sellers, have been collecting claims for years, Tindall said. - - In a statement, Amazon said Flex “gives individuals the opportunity to set their own schedule and be their own boss, while earning competitive pay. We hear from most of the Amazon Flex delivery partners that they love the flexibility of the program, and we’re proud of the work they do on behalf of customers every day.” On its website, Amazon says most drivers earn between $18 to $25 an hour. - - In their statement, Tindall and Sellers said Amazon only pays the drivers for a pre-determined “block.” If a Flex driver books a three-hour block on the app, they only get paid for three hours, even if deliveries come in that take more time. - - Amazon told CNN the majority of Amazon Flex delivery partners finish their delivery blocks early, according to its own data. - - Tindall told CNN that the workers filed independent arbitration claims instead of a class action lawsuit because drivers have to sign an agreement that forbids class action. - - “Arbitration, unfortunately, limits the drivers’ pursuit of justice. So, we’re left with little choice but to file almost 16,000 individual arbitration actions at once,” Tindall said. - - CNN’s Samantha Delouya contributed to this report.",CNN,12/06/2024,"['More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights.', 'Millions of Americans participate in the “gig economy,” freelancing work through delivery and ride apps like Lyft, Uber, Doordash and Instacart.', 'But as gig work has gotten more popular, many of those workers say they are in fact employees, not just contractors, and therefore deserve more benefits and protections.', 'The definition and rights of a contract worker versus an employee, for example, has been fiercely debated in laws such as California’s Prop 22, which allows ride-hailing and delivery drivers to be treated as independent contractors with some added benefits, including a minimum earnings guarantee.', 'Amazon Flex, launched in 2015, allows independent contractors to sign up to deliver Amazon packages.', 'Flex drivers provide Amazon Fresh grocery deliveries or same-day deliveries from the company’s warehouse hubs.', 'Since the drivers are classified as independent contractors, these claims ask for compensation for unpaid wages and overtime, and reimbursement for expenses such as mileage and cell phone usage.', 'Lawyers for the case said in a statement that about 450 such claims had been previously filed with the American Arbitration Association.', 'Drivers from California, Massachusetts and Illinois filed claims because laws about employee misclassification are “very clear” in those states, attorney Steven Tindall told CNN.', 'The three states also allow workers to file claims for expense reimbursement from employers, Tindall added.', 'Tindall and another attorney, Joseph Sellers, have been collecting claims for years, Tindall said.', 'In a statement, Amazon said Flex “gives individuals the opportunity to set their own schedule and be their own boss, while earning competitive pay.', 'We hear from most of the Amazon Flex delivery partners that they love the flexibility of the program, and we’re proud of the work they do on behalf of customers every day.', '”On its website, Amazon says most drivers earn between $18 to $25 an hour.', 'In their statement, Tindall and Sellers said Amazon only pays the drivers for a pre-determined “block.”', 'If a Flex driver books a three-hour block on the app, they only get paid for three hours, even if deliveries come in that take more time.', 'Amazon told CNN the majority of Amazon Flex delivery partners finish their delivery blocks early, according to its own data.', 'Tindall told CNN that the workers filed independent arbitration claims instead of a class action lawsuit because drivers have to sign an agreement that forbids class action.', '“Arbitration, unfortunately, limits the drivers’ pursuit of justice.', 'So, we’re left with little choice but to file almost 16,000 individual arbitration actions at once,” Tindall said.', 'CNN’s Samantha Delouya contributed to this report.']",0.2565337050155871,"We hear from most of the Amazon Flex delivery partners that they love the flexibility of the program, and we’re proud of the work they do on behalf of customers every day.","If a Flex driver books a three-hour block on the app, they only get paid for three hours, even if deliveries come in that take more time.",0.3863402307033539,"But as gig work has gotten more popular, many of those workers say they are in fact employees, not just contractors, and therefore deserve more benefits and protections.","“Arbitration, unfortunately, limits the drivers’ pursuit of justice.",2024-06-17 -What the price difference between ham and bacon tell us about inflation,https://edition.cnn.com/2024/06/17/business/ham-bacon-prices/index.html," - Updated - 3:03 PM EDT, Mon June 17, 2024 - ","Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot. - - Bacon is more expensive than it was a year ago, with prices up 6.9% from May 2023 to May of this year, according to inflation data from the Bureau of Labor Statistics. Pork chops were up too, by 4.6%. But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties. - - What gives? - - Econ buffs may remember that prices are set according to supply and demand. You’d expect any supply issues — like too many hogs, or too few — to cause prices of each of the items to move up or down, all in the same direction. - - The discrepancy, then, must be caused by differences on the demand side. And it is: Demand for domestic pork has grown in recent years outside of the US. But rising demand, plus the same or reduced supply, should push prices up, not down. - - So again, what gives? - - To understand you have to zoom out, looking at long-term retail pricing strategy and food price trends. - - Glynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board. - - From May 2019 to May 2024, according to government data shared by the Federal Reserve of St. Louis, prices of ham, pork chops and bacon all went up. - - But prices for ham actually went up higher than the prices of bacon and pork chops. That’s because US ham exports have been booming, particularly to Mexico. - - “In the middle of that five-year period, we had that Mexican demand boost,” Tonsor said. “The US market’s competing with Mexico for the same ham,” he added. “So the prices are going to be higher domestically.” - - So that year-over-year decrease you see in the grocery store is really just a drop from those heights. - - Another reason for high bacon prices: Strong demand, even when it’s expensive. - - “People are more willing to pay for bacon than they are maybe some other pork products,” said Christine McCracken, senior animal protein analyst at RaboBank. - - Retailers set prices strategically. So if they know that customers are more willing to spend more on bacon, they might keep those prices high or raise them to make up for decreases in other areas, where customers might spend less. - - Prices in the supermarket aren’t just tied to cost. They’re also determined according to the psychology of how people shop. - - For example: If you see a deal for eggs or pancake mix, you might go into the store for those items. Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal. - - It’s also possible that bacon prices are not quite as high as they seem because of discounts. - - “What you see more in bacon is kind of a high-low strategy,” said McCracken. “You’ll keep the price high on a normal day and then put it on super sale.” - - And even if bacon, pork chops and (taking the long view) ham are getting more expensive, they might still be a cheaper protein option than beef — not to mention restaurant meals. - - While grocery prices are flattening, menu prices continue to increase — frustrating customers and prompting some to dine out less often and spend less when they do. - - Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics. In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%. They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints. - - Chains from Burger King to KFC to Starbucks have started offering menu deals in an effort both to bring people back and restore their reputations as affordable food options. - - Still, buying bacon from the supermarket and making a sandwich at home is cheaper than buying a BLT or a bacon cheeseburger from a restaurant. Even if grocery-store bacon is pricier than it was this time last year.",CNN,17/06/2024,"['Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot.', 'Bacon is more expensive than it was a year ago, with prices up 6.9% from May 2023 to May of this year, according to inflation data from the Bureau of Labor Statistics.', 'Pork chops were up too, by 4.6%.', 'But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties.', 'What gives?', 'Econ buffs may remember that prices are set according to supply and demand.', 'You’d expect any supply issues —like too many hogs, or too few —to cause prices of each of the items to move up or down, all in the same direction.', 'The discrepancy, then, must be caused by differences on the demand side.', 'And it is: Demand for domestic pork has grown in recent years outside of the US.', 'But rising demand, plus the same or reduced supply, should push prices up, not down.', 'So again, what gives?', 'To understand you have to zoom out, looking at long-term retail pricing strategy and food price trends.', 'Glynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board.', 'From May 2019 to May 2024, according to government data shared by the Federal Reserve of St. Louis, prices of ham, pork chops and bacon all went up.', 'But prices for ham actually went uphigherthan the prices of bacon and pork chops.', 'That’s because US ham exports have been booming, particularly to Mexico.', '“In the middle of that five-year period, we had that Mexican demand boost,” Tonsor said. “', 'The US market’s competing with Mexico for the same ham,” he added. “', 'So the prices are going to be higher domestically.”', 'So that year-over-year decrease you see in the grocery store is really just a drop from those heights.', 'Another reason for high bacon prices: Strong demand, even when it’s expensive.', '“People are more willing to pay for bacon than they are maybe some other pork products,” said Christine McCracken, senior animal protein analyst at RaboBank.', 'Retailers set prices strategically.', 'So if they know that customers are more willing to spend more on bacon, they might keep those prices high or raise them to make up for decreases in other areas, where customers might spend less.', 'Prices in the supermarket aren’t just tied to cost.', 'They’re also determined according to the psychology of how people shop.', 'For example: If you see a deal for eggs or pancake mix, you might go into the store for those items.', 'Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal.', 'It’s also possible that bacon prices are not quite as high as they seem because of discounts.', '“What you see more in bacon is kind of a high-low strategy,” said McCracken. “', 'You’ll keep the price high on a normal day and then put it on super sale.”', 'And even if bacon, pork chops and (taking the long view) ham are getting more expensive, they might still be a cheaper protein option than beef — not to mention restaurant meals.', 'While grocery prices are flattening, menu prices continue to increase —frustrating customers and prompting some to dine out less often and spend less when they do.', 'Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics.', 'In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%.', 'They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints.', 'Chains from Burger King to KFC to Starbucks have started offering menu deals in an effort both to bring people back and restore their reputations as affordable food options.', 'Still, buying bacon from the supermarket and making a sandwich at home is cheaper than buying a BLT or a bacon cheeseburger from a restaurant.', 'Even if grocery-store bacon is pricier than it was this time last year.']",0.0434690223643447,"Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal.","But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties.",0.6923250048248856,"Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics.",So that year-over-year decrease you see in the grocery store is really just a drop from those heights.,2024-06-17 -Nationwide says it’s dropping thousands of pet insurance policies due to inflation,https://edition.cnn.com/2024/06/17/business/pet-insurance-cost/index.html," - Published - 3:25 PM EDT, Mon June 17, 2024 - ","Taking care of Fido is getting out of reach for more Americans. - - Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care. - - The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans. - - “Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide said in an announcement last week. - - Impacted policyholders will be notified in writing, the company said. - - Nationwide said it’s taking steps like this to continue its business in the future. - - “We certainly empathize with the disappointment many of our pet families feel and will fully stand by the protections for which they have paid through the end of their current term,” Nationwide said. - - Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons. - - It’s been an expensive year to keep up with insurance, adding to the influx of high prices hurting American families’ wallets. - - Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data. Many factors are behind that trend, including rising car repair costs and more severe and frequent car accidents. - - The home insurance market is also falling apart. Climate change is increasing the frequency and severity of extreme weather such as hurricanes, storms and wildfires. Insurers, especially in areas most impacted by extreme weather, are raising their premiums, or pulling out altogether, impacting the affordability and availability of home and fire insurance. - - There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN. - - The higher costs insurers face from higher replacement costs and re-insurance, the type of insurance used by insurers to limit their own risks, is getting passed down to consumers. Insurers in states like California and Florida have paused issuing policies altogether.",CNN,17/06/2024,"['Taking care of Fido is getting out of reach for more Americans.', 'Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.', 'The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans.', '“Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide said in an announcement last week.', 'Impacted policyholders will be notified in writing, the company said.', 'Nationwide said it’s taking steps like this to continue its business in the future.', '“We certainly empathize with the disappointment many of our pet families feel and will fully stand by the protections for which they have paid through the end of their current term,” Nationwide said.', 'Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons.', 'It’s been an expensive year to keep up with insurance, adding to the influx of high prices hurting American families’ wallets.', 'Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data.', 'Many factors are behind that trend, including rising car repair costs and more severe and frequent car accidents.', 'The home insurance market is also falling apart.', 'Climate change is increasing the frequency and severity of extreme weather such as hurricanes, storms and wildfires.', 'Insurers, especially in areas most impacted by extreme weather, are raising their premiums, or pulling out altogether,impacting the affordability and availability ofhome and fire insurance.', 'There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN.', 'The higher costs insurers face from higher replacement costs and re-insurance, the type of insurance used by insurers to limit their own risks, is getting passed down to consumers.', 'Insurers in states like California and Florida have paused issuing policies altogether.']",-0.0004540339565247,"There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN.","Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons.",-0.5127464945499713,"Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data.","Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.",2024-06-17 -Where’s inflation really heading? Traders and economists are using this real-time inflation gauge to get ahead of the curve,https://edition.cnn.com/2024/06/12/economy/inflation-real-time-data/index.html," - Published - 4:30 PM EDT, Wed June 12, 2024 - ","If you want to know how much a publicly traded company is worth at any given time, all you have to do is look up its market cap, which updates in real time during trading hours. - - But if you want to know how fast prices are rising in the US, you get two official updates a month — the Consumer Price Index and the Personal Consumption Expenditures price index. Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data. - - Despite these shortcomings, officials at the Federal Reserve rely on these government reports to help make crucial monetary policy decisions that directly influence the interest rates you pay on your mortgage and other kinds of debt. The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay. - - But a novel real-time inflation gauge called Truflation is trying to fix some of the issues with government inflation data that has long been considered the gold standard. - - While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans. The government also has a much longer history of producing inflation reports with extremely thorough standards. - - Unlike PCE and CPI, Truflation arrives at a new inflation rate on a near-daily basis, drawing from over 60 different data sources that provide three unique prices across more than 18 million goods and services. Some of the data providers include Amazon, Walmart, Nielsen, Hilton and Zillow. - - While the Bureau of Labor Statistics, the division of the Labor Department that produces monthly CPI reports, enlists a team of people to either physically go to businesses, call them up or scan websites to collect pricing data for 80,000 goods and services across the country, Truflation pays for some of the data. - - Over time, more providers have been sharing data for free because they recognize that having it incorporated into the model will give them more updated and accurate information on how competitive their pricing is, Stefan Rust, CEO and founder of Truflation, told CNN. - - That data goes through a rigorous process incorporating blockchain technology to verify its authenticity, which Truflation outlines in its public 20-page methodology. - - Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated. For most consumers, housing accounts for the majority of their spending, and is therefore assigned a greater weight than, for instance, clothing. That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate. - - Truflation uses the same process the government does to calculate relative importance, but it uses some different data to determine how consumers allocate their income. That accounts for some of the variation between the government’s inflation data and Truflation’s. - - Another discrepancy is that Truflation’s data is not seasonally adjusted, whereas the government’s monthly data is. That means that an increase in utility prices during the summer when it’s typically more expensive to cool your home would show up more in Truflation’s data than the government’s. - - As of Wednesday, Truflation put the nation’s annual inflation rate at 2.23%, just inches away from the Fed’s 2% target. In contrast, May’s CPI report released Wednesday morning arrived at a 3.3% inflation rate, matching precisely what Truflation predicted the gauge would come in at based on its data. Truflation is able to predict what government inflation reports will show by adjusting their data to when the government goes out and collects its own pricing data to form its monthly reports. - - Wall Street traders were the first group drawn to Truflation, Rust said. “They wanted the data to help them calculate where they felt, based on our data, the government BLS numbers would come out on.” - - Danielle DiMartino Booth, who advised Richard Fisher when he was the president of the Dallas Fed and who is now CEO and chief strategist at QI Research, said she uses Truflation “to identify where price pressures are cropping up” on a daily basis. That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN. - - While Fed officials have taken a greater interest in analyzing economic data from non-government sources to help shape their views on the economy, it remains to be seen if and how they’re using Truflation data. But it’s on their radar, said Rust, who says he has met with researchers from the New York and Dallas Fed.",CNN,12/06/2024,"['If you want to know how much a publicly traded company is worth at any given time, all you have to do is look up its market cap, which updates in real time during trading hours.', 'But if you want to know how fast prices are rising in the US, you get two official updates a month — the Consumer Price Index and the Personal Consumption Expenditures price index.', 'Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data.', 'Despite these shortcomings, officials at the Federal Reserve rely on these government reports to help make crucial monetary policy decisions that directly influence the interest rates you pay on your mortgage and other kinds of debt.', 'The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay.', 'But a novel real-time inflation gauge called Truflation is trying to fix some of the issues with government inflation data that has long been considered the gold standard.', 'While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans.', 'The government also has a much longer history of producing inflation reports with extremely thorough standards.', 'Unlike PCE and CPI, Truflation arrives at a new inflation rate on a near-daily basis, drawing from over 60 different data sources that provide three unique prices across more than 18 million goods and services.', 'Some of the data providers include Amazon, Walmart, Nielsen, Hilton and Zillow.', 'While the Bureau of Labor Statistics, the division of the Labor Department that produces monthly CPI reports, enlists a team of people to either physically go to businesses, call them up or scan websites to collect pricing data for 80,000 goods and services across the country, Truflation pays for some of the data.', 'Over time, more providers have been sharing data for free because they recognize that having it incorporated into the model will give them more updated and accurate information on how competitive their pricing is, Stefan Rust, CEO and founder of Truflation, told CNN.', 'That data goes through a rigorous process incorporating blockchain technology to verify its authenticity, which Truflation outlines in its public 20-page methodology.', 'Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated.', 'For most consumers, housing accounts for the majority of their spending, and is therefore assigned a greater weight than, for instance, clothing.', 'That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate.', 'Truflation uses the same process the government does to calculate relative importance, but it uses some different data to determine how consumers allocate their income.', 'That accounts for some of the variation between the government’s inflation data and Truflation’s.', 'Another discrepancy is that Truflation’s data is not seasonally adjusted, whereas the government’s monthly data is.', 'That means that an increase in utility prices during the summer when it’s typically more expensive to cool your home would show up more in Truflation’s data than the government’s.', 'As of Wednesday, Truflation put the nation’s annual inflation rate at 2.23%, just inches away from the Fed’s 2% target.', 'In contrast, May’s CPI report released Wednesday morning arrived at a 3.3% inflation rate, matching precisely what Truflation predicted the gauge would come in at based on its data.', 'Truflation is able to predict what government inflation reports will show by adjusting their data to when the government goes out and collects its own pricing data to form its monthly reports.', 'Wall Street traders were the first group drawn to Truflation, Rust said. “', 'They wanted the data to help them calculate where they felt, based on our data, the government BLS numbers would come out on.”', 'Danielle DiMartino Booth, who advisedRichard Fisherwhen he was the president of the Dallas Fed and who is now CEO and chief strategist at QI Research, said she uses Truflation “to identify where price pressures are cropping up” on a daily basis.', 'That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN.', 'While Fed officials have taken a greater interest in analyzing economic data from non-government sources to help shape their views on the economy, it remains to be seen if and how they’re using Truflation data.', 'But it’s on their radar, said Rust, who says he has met with researchers from the New York and Dallas Fed.']",0.2092583523485021,"While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans.","Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data.",-0.1010499715805053,"That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN.",That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate.,2024-06-17 -Adidas is investigating allegations of embezzlement and kickbacks in China,https://edition.cnn.com/2024/06/17/business/china-adidas-embezzlement-investigation-whistleblowers-intl-hnk/index.html," - Published - 8:17 AM EDT, Mon June 17, 2024 - ","Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear. - - Chinese state media Jiemian reported last week that local executives had been accused of embezzling “millions of euros” in an unsigned letter written by whistleblowers calling themselves employees of Adidas China. The letter was widely publicized online. - - Claudia Lange, head of media relations at the apparel giant, told CNN on Monday that it had received an anonymous letter on June 7 “indicating potential compliance violations in China.” - - “Adidas is currently intensively investigating this matter together with external legal counsel,” she said in an emailed response. Lange declined further comment pending the outcome of the inquiry. - - Shares of Adidas fell 3.7% on Monday. - - Jiemian wrote that the letter from whistleblowers had been sent directly to the company’s German headquarters before being shared on social media. - - The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies. Several members of the executive’s team and other employees were also implicated, according to a copy of the letter published by the Chinese state media outlet. - - Adidas Greater China’s overall promotional budget amounted to 250 million euros ($268 million) a year, including expenses dedicated to marketing, branding and trade fairs, Jiemian reported, citing the letter. - - The senior manager was also accused of “nepotism” and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said. People who followed her instructions were promoted, they added. - - The complaint also alleged that one of the manager’s subordinates had received “millions … from suppliers and physical items such as real estate.” - - The whistleblowers vowed to disclose the matter to the media and law enforcement if the company did not address the allegations. - - Adidas is the world’s second largest sportswear retailer. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales. - - In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE). The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022. - - But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton. - - In 2021, Adidas — along with H&M, Nike and other big Western apparel brands — faced a boycott in China because of the stand they had taken against the alleged use of forced labor to produce cotton in the country’s western region of Xinjiang. - - Adidas is well known for playing the “celebrity” card in its marketing in China. It has previously worked with popular actors and singers as brand ambassadors, including Yang Mi, Dilraba and Yi Yangqianxi.",CNN,17/06/2024,"['Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear.', 'Chinese state media Jiemian reported last week that local executives had been accused of embezzling “millions of euros” in an unsigned letter written by whistleblowers calling themselves employees of Adidas China.', 'The letter was widely publicized online.', 'Claudia Lange, head of media relations at the apparel giant, told CNN on Monday that it had received an anonymous letter on June 7 “indicating potential compliance violations in China.”', '“Adidas is currently intensively investigating this matter together with external legal counsel,” she said in an emailed response.', 'Lange declined further comment pending the outcome of the inquiry.', 'Shares of Adidas fell 3.7% on Monday.', 'Jiemian wrote that the letter from whistleblowers had been sent directly to the company’s German headquarters before being shared on social media.', 'The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies.', 'Several members of the executive’s team and other employees were also implicated, according to a copy of the letter published by the Chinese state media outlet.', 'Adidas Greater China’s overall promotional budget amounted to 250 million euros ($268 million) a year, including expenses dedicated to marketing, branding and trade fairs, Jiemian reported, citing the letter.', 'The senior manager was also accused of “nepotism” and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said.', 'People who followed her instructions were promoted, they added.', 'The complaint also alleged that one of the manager’s subordinates had received “millions … from suppliers and physical items such as real estate.”', 'The whistleblowers vowed to disclose the matter to the media and law enforcement if the company did not address the allegations.', 'Adidas is the world’s second largest sportswear retailer.', 'Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales.', 'In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE).', 'The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.', 'But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton.', 'In 2021, Adidas — along with H&M, Nike and other big Western apparel brands — faced a boycott in China because of the stand they had taken against thealleged use of forced laborto produce cotton in the country’s western region of Xinjiang.', 'Adidas is well known for playing the “celebrity” card in its marketing in China.', 'It has previously worked with popular actors and singers as brand ambassadors, including Yang Mi, Dilraba and Yi Yangqianxi.']",0.0698112406068041,The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.,"The senior manager was also accused of “nepotism” and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said.",-0.5454946160316467,The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.,But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton.,2024-06-17 -Tesco says shoppers are buying more as confidence returns,https://www.bbc.co.uk/news/articles/c511llw8l0lo,2024-06-14T09:56:19.345Z,"The UK's biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth. The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors. It saw strong sales in its premium food range, claiming consumers are opting to dine-in more. Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting. Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". ""We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added. Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I'm well paid."" According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee. Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin. The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer. Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets."" ",BBC,14/06/2024,"['The UK\'s biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth.', 'The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.', 'It saw strong sales in its premium food range, claiming consumers are opting to dine-in more.', 'Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting.', 'Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken\'s absolute level of pay"". ""', 'We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added.', 'Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I\'m well paid.""', ""According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee."", 'Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.', 'The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer.', 'Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “', 'We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""', 'Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets.""']",0.3783091490336879,"Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.","Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". """,0.641240266236392,"The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.","According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee.",2024-06-17 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-06-17 -Alex Jones ordered to sell assets to pay Sandy Hook debt,https://www.bbc.co.uk/news/articles/cj55v57v2z2o,2024-06-14T19:27:50.334Z,"A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting. However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand. Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack. The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns. According to recent court filings, Mr Jones has around $8.6m in personal assets. The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate. According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items. Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure. The decision does not remove Free Speech Systems' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""There's no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “I think creditors are better served in pursuing their state court rights."" One of the attorneys for the families said they would move quickly to collect damages. “The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""Alex Jones is neither a martyr nor a victim. He is the perpetrator of the worst defamation in American history."" Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents. Twenty young children and six school staff were killed in the attack. At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors."" Mr Jones has since acknowledged that the Sandy Hook killings occurred. Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers. The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy. Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring. On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him. He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “I would have been off the air today if the judge hadn’t done the right thing. We live to fight another day.” During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars. But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales. ",BBC,14/06/2024,"[""A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting."", 'However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand.', 'Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack.', ""The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns."", 'According to recent court filings, Mr Jones has around $8.6m in personal assets.', 'The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate.', 'According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items.', 'Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure.', 'The decision does not remove Free Speech Systems\' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""', 'There\'s no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “', 'I think creditors are better served in pursuing their state court rights.""', 'One of the attorneys for the families said they would move quickly to collect damages. “', 'The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""', 'Alex Jones is neither a martyr nor a victim.', 'He is the perpetrator of the worst defamation in American history.""', 'Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.', 'Twenty young children and six school staff were killed in the attack.', 'At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors.""', 'Mr Jones has since acknowledged that the Sandy Hook killings occurred.', 'Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers.', 'The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy.', 'Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring.', 'On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him.', 'He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “', 'We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “', 'I would have been off the air today if the judge hadn’t done the right thing.', 'We live to fight another day.”', 'During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.', 'But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.']",-0.0736248575336421,"He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “","Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.",0.3448423743247986,"But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.","During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.",2024-06-17 -Washington Post CEO Will Lewis’ status ‘increasingly untenable’ as newsgathering controversies mount,https://edition.cnn.com/2024/06/16/media/washington-post-will-lewis-phone-hacking/index.html," - Updated - 4:29 PM EDT, Mon June 17, 2024 - ","A report from the New York Times on Saturday alleges Will Lewis, the Washington Post’s embattled new publisher and chief executive, used fraudulent and unethical methods to obtain information for articles while working at the London-based Sunday Times in the early 2000s. - - Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were “fraudulently obtained” through hacking and paying sources for information. - - Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country. Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening. Margaret Sullivan, executive director of the Craig Newmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.” - - These latest allegations of questionable journalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor, Sally Buzbee. The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism. - - Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November. The Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnett then used in his journalism. - - In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly. Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage. The publisher has no involvement in or influence on our reporting.” - - In a follow-up on Monday, the Post added that “The executive editor and relevant masthead editors review and provide input, with Cameron’s concurrence, to ensure that our work meets our highest standards.” - - Winnett did not immediately respond to a CNN query via LinkedIn. - - The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standards are recognized in many newsrooms, warns journalists in its Code of Ethics: “Do not pay for access to news.” - - While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance of undue intrusiveness.” - - The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing. Lewis has previously said his role in the scandal consisted of rooting out problematic behavior. - - A spokesperson for the Washington Post told CNN Lewis declined to comment. - - A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.” - - The decade-old scandal engulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in a new lawsuit filed by Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant. At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation. - - But a cascade of claims has followed Lewis in recent weeks, mostly involving alleged attempts to suppress stories about his connection with the coverup. Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed with Buzbee over publishing an article in May that named him in connection to the scandal, although a spokesperson for Lewis has denied he pressured Buzbee to quash the article, according to NPR. - - Buzbee abruptly left the company earlier this month. Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal. - - The Washington Post did not respond to CNN with regard to these allegations. - - A spokesperson for Lewis told the New York Times earlier this month when the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.” The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.” - - Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further. A number of Post staffers who spoke to CNN have described plummeting morale. “It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented. - - In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make. Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added. - - Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.” He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.",CNN,17/06/2024,"['A report from the New York Times on Saturday allegesWill Lewis, the Washington Post’s embattled new publisher and chief executive,used fraudulent and unethical methodsto obtain information for articles while working at the London-based Sunday Timesin the early 2000s.', 'Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were“fraudulently obtained”through hacking and paying sources for information.', 'Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country.', 'Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening.', 'Margaret Sullivan, executive director of the CraigNewmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.”', 'These latest allegations ofquestionablejournalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor,Sally Buzbee.', 'The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism.', 'Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November.', 'The Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnettthen used in his journalism.', 'In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly.', 'Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage.', 'The publisher has no involvement in or influence on our reporting.”', 'In a follow-up on Monday, the Post added that “The executive editor and relevant masthead editors review and provide input, with Cameron’s concurrence, to ensure that our work meets our highest standards.”', 'Winnett did not immediately respond to a CNN query via LinkedIn.', 'The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standardsare recognized inmany newsrooms, warns journalists in itsCode of Ethics: “Do not pay for access to news.”', 'While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance ofundue intrusiveness.”', 'The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.', 'Lewis haspreviously saidhis role in the scandal consisted of rooting out problematic behavior.', 'A spokesperson for the Washington Post told CNN Lewis declined to comment.', 'A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”', 'Thedecade-old scandalengulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in anew lawsuit filedby Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant.', 'At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation.', 'But a cascade of claims has followed Lewis in recent weeks, mostly involvingalleged attempts to suppress stories about his connection with the coverup.', 'Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed withBuzbeeover publishing an article in May that named him in connection to the scandal,although aspokesperson for Lewis has denied he pressured Buzbeeto quash the article, according to NPR.', 'Buzbee abruptly left the company earlier this month.', 'Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal.', 'The Washington Post did not respond to CNN with regard to these allegations.', 'A spokesperson for Lewistold the New York Times earlier this monthwhen the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.”', 'The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.”', 'Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further.', 'A number of Post staffers who spoke to CNN have described plummeting morale. “', 'It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented.', 'In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.', 'Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added.', 'Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.”', 'He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.']",-0.0751833537046342,"A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”","The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.",-0.4013231217861175,"In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.",A number of Post staffers who spoke to CNN have described plummeting morale. “,2024-06-17 -Key takeaways from the Fed’s latest interest rate decision,https://edition.cnn.com/2024/06/12/economy/june-fed-decision/index.html," - Updated - 4:43 PM EDT, Wed June 12, 2024 - ","The Federal Reserve said Wednesday it is keeping its benchmark lending rate at its current level for the seventh time in a row, while signaling fewer rate cuts than previously estimated. - - That means borrowing costs on everything from car loans to mortgage rates will remain elevated. - - Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March. They also expect inflation to be more stubborn this year than they thought in the spring, according to their forecasts. - - Fed Chair Jerome Powell noted that the May Consumer Price Index, released earlier Wednesday, was “certainly a better inflation report than almost anybody expected.” But he said officials still want to see inflation slow further before lowering borrowing costs. - - The Fed has kept interest rates at a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022. Central bankers are waiting for more evidence that inflation is headed toward 2% — and the economy’s resilience is allowing them to be comfortably on hold. The Fed will begin cutting interest rates once it’s clear that inflation has cooled enough and won’t heat back up — or if the job market deteriorates much more than expected, but there are currently not many signs of that. - - The inflation situation is now better than it was in the first quarter: Consumer prices eased in May, the Labor Department reported Wednesday morning. From a year earlier, inflation rose 3.3% in May, down from April’s 3.4% rise and also below economists’ expectations. - - Fed officials’ latest policy statement noted that inflation has seen some “modest further progress” toward their 2% target in recent months, versus the May statement that noted there had been a “lack” of any improvements. - - Here are key takeaways from the Fed’s latest decision on interest rates. - - Not only was the Fed chief pleased with Wednesday’s inflation report, saying it was a “good reading,” but he maintained his view that interest rates are “restrictive” enough to rein in price hikes. - - Powell pointed to the substantial progress seen in the second half of last year as an example. Still, he said officials now think “it’s probably going to take longer to get the confidence needed to loosen policy,” compared to what they thought in March. That’s precisely what officials’ forecasts showed. - - When asked what will help tug inflation closer to the Fed’s 2% target, Powell said slower inflation will come “from where it’s been coming from,” pointing to the “the unwinding of the pandemic-related distortions to both supply and demand.” - - “And that is complemented by, amplified by, supported by restrictive monetary policy, so those two things are working together,” he said. “We’ve made pretty good progress on inflation with our current [policy] stance.” - - Economists have said that it’s only a matter of time until declining rents show up in official inflation gauges. Still-high housing costs are still looming large in the CPI: Shelter inflation more than offset the decline in gasoline seen last month, rising 0.4% for the fourth month in a row, the May CPI showed. - - Powell has frequently said the job market likely needs to come back “into better balance” to ensure that inflation is on track to 2%. That’s because a labor market that’s running too hot could put some upward pressure on prices, making the Fed’s job of fully defeating inflation more difficult. - - The Fed chief says so far so good. - - “Overall, a broad set of indicators suggest that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Powell said in his post-meeting press conference on Wednesday afternoon. - - He pointed to data proving just that: Job gains averaging 218,000 a month in April and May; unemployment still at low levels, job creation driven by more prime-aged workers and immigrants trickling into the workforce; slower wage growth; and a narrower jobs-to-workers ratio. - - The Fed focuses on the job market not just because of its implications on inflation, but also because the central bank is explicitly tasked by Congress to strive toward maximum employment. If the labor market unexpectedly weakens, then that could force the Fed to consider cutting rates, but Powell didn’t sound concerned at all. - - “We see gradual cooling, gradual moving toward a better balance,” he said. “We’re monitoring it carefully for signs of something more than that, but we really don’t see that.” - - Wall Street’s best bet for the first rate cut is currently September, according to futures, and those odds improved markedly after the release of the May CPI. For that to happen, however, inflation will have to continue to drift lower in the coming months. - - Officials frequently emphasize that they are “data dependent” and make conclusions about the economy after data stretching over several months reveal a trend. It’s unclear if the factors that resulted in hotter-than-expected inflation readings earlier this year are still lurking in the background, but the May CPI provided some relief. - - “The belief that components boosting inflation in the first quarter were not indicative of current cost pressures needed to be validated. May’s report provides strong evidence on that front,” Matt Colyar, an economist at Moody’s Analytics, said in a note Wednesday. “The Fed is banking it can wait a few more months until inflation falls further.” - - The US economy remains on strong footing for now, including the job market as employers continue to hire at a brisk pace. But it’s unmistakable that some US consumers are under pressure. Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century are squeezing Americans.",CNN,12/06/2024,"['TheFederal Reservesaid Wednesday it is keeping its benchmark lending rate at its current level for the seventh time in a row, while signaling fewer rate cuts than previously estimated.', 'That means borrowing costs on everything from car loans to mortgage rates will remain elevated.', 'Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March.', 'They also expectinflationto be more stubborn this year than they thought in the spring, according to their forecasts.', 'Fed Chair Jerome Powell noted that the May Consumer Price Index, released earlier Wednesday, was “certainly a better inflation report than almost anybody expected.”', 'But he said officials still want to see inflation slow further before lowering borrowing costs.', 'TheFedhas kept interestratesat a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022.', 'Central bankers are waiting for more evidence thatinflationis headed toward 2%— and theeconomy’s resilience is allowing them to be comfortably on hold.', 'TheFedwill begin cutting interestratesonce it’s clear thatinflationhas cooled enough and won’t heat back up — or if the job market deteriorates much more than expected, but there are currently not many signs of that.', 'The inflation situation is now better than it was in the first quarter: Consumer prices eased in May, the Labor Department reported Wednesday morning.', 'From a year earlier, inflation rose 3.3% in May, down from April’s 3.4% rise and also below economists’ expectations.', 'Fedofficials’ latest policy statement noted thatinflationhas seen some “modest further progress” toward their 2% target in recent months, versus the May statement that noted there had been a “lack” of any improvements.', 'Here are key takeaways from the Fed’s latest decision on interest rates.', 'Not only was the Fed chief pleased with Wednesday’s inflation report, saying it was a “good reading,” but he maintained his view that interest rates are “restrictive” enough to rein in price hikes.', 'Powell pointed to the substantial progress seen in the second half of last year as an example.', 'Still, he said officials now think “it’s probably going to take longer to get the confidence needed to loosen policy,” compared to what they thought in March.', 'That’s precisely what officials’ forecasts showed.', 'When asked what will help tug inflation closer to the Fed’s 2% target, Powell said slower inflation will come “from where it’s been coming from,” pointing to the “the unwinding of the pandemic-related distortions to both supply and demand.”', '“And that is complemented by, amplified by, supported by restrictive monetary policy, so those two things are working together,” he said. “', 'We’ve made pretty good progress on inflation with our current [policy] stance.”', 'Economists have said that it’s only a matter of time until declining rents show up in official inflation gauges.', 'Still-high housing costs are still looming large in the CPI: Shelter inflation more than offset the decline in gasoline seen last month, rising 0.4% for the fourth month in a row, the May CPI showed.', 'Powell has frequently said the job market likely needs to come back “into better balance” to ensure that inflation is on track to 2%.', 'That’s because a labor market that’s running too hot could put some upward pressure on prices, making the Fed’s job of fully defeating inflation more difficult.', 'The Fed chief says so far so good.', '“Overall, a broad set of indicators suggest that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Powell said in his post-meeting press conference on Wednesday afternoon.', 'He pointed to data proving just that: Job gains averaging218,000 a month in April and May; unemployment still at low levels, job creation driven by more prime-aged workers and immigrants trickling into the workforce; slower wage growth; and a narrower jobs-to-workers ratio.', 'The Fed focuses on the job market not just because of its implications on inflation, but also because the central bank is explicitly tasked by Congress to strive toward maximum employment.', 'If the labor market unexpectedly weakens, then that could force the Fed to consider cutting rates, but Powell didn’t sound concerned at all.', '“We see gradual cooling, gradual moving toward a better balance,” he said. “', 'We’re monitoring it carefully for signs of something more than that, but we really don’t see that.”', 'Wall Street’s best bet for the first rate cut is currently September, according to futures, and those odds improved markedly after the release of the May CPI.', 'For that to happen, however,inflationwill have to continue to drift lower in the coming months.', 'Officials frequently emphasize that they are “data dependent” and make conclusions about theeconomyafter data stretching over several months reveal a trend.', 'It’s unclear if the factors that resulted in hotter-than-expectedinflationreadings earlier this year are still lurking in the background, but the May CPI provided some relief.', '“The belief that components boostinginflationin the first quarter were not indicative of current cost pressures needed to be validated.', 'May’s report provides strong evidence on that front,” Matt Colyar, an economist at Moody’s Analytics, said in a note Wednesday. “', 'TheFedis banking it can wait a few more months untilinflationfalls further.”', 'The USeconomyremains on strong footing for now, including the job market as employers continue to hire at a brisk pace.', 'But it’s unmistakable that some US consumers are under pressure.', 'Still-highinflationis continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interestratesin nearly a quarter century are squeezing Americans.']",0.1518373823531937,We’ve made pretty good progress on inflation with our current [policy] stance.”,"That’s because a labor market that’s running too hot could put some upward pressure on prices, making the Fed’s job of fully defeating inflation more difficult.",0.38422138040716,"Wall Street’s best bet for the first rate cut is currently September, according to futures, and those odds improved markedly after the release of the May CPI.","Still-highinflationis continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interestratesin nearly a quarter century are squeezing Americans.",2024-06-17 -Disney and Pixar's Inside Out 2 makes record opening weekend,https://www.bbc.co.uk/news/articles/cd114gg38xpo,2024-06-17T03:25:30.799Z,"Pixar's Inside Out 2 has broken box office records over the weekend as it brought in an estimated $295m (£232.6m) around the world. That makes it the strongest global opening by an animated film of all time, parent company Disney said. In North America, ticket sales hit about $155m, dethroning Dune: Part Two as the holder of this year's top box office opening weekend. It marks a big win for cinemas, which have seen lacklustre box office takings for some new movies this year. Inside Out 2's first weekend was much stronger than the original movie, which brought in $90m in its opening weekend before going on to gross $858m worldwide. It was the second-best opening for the company in the North American market, just behind the 2018 release of The Incredibles 2. The blockbuster opening weekend is a boost for Pixar after relatively weak opening performances from some of its recent releases. Inside Out 2 is the first sequel of the 2015 Oscar-winning hit, which focused on the emotions of a young girl called Riley. While the original was about feelings like joy, fear and anger the latest instalment tackles issues such as envy and anxiety. Inside Out 2's successful opening is a bright spot in what has so far been a slow start to summer for film companies. A large part of annual ticket sales usually take place in the period from the first weekend in May to the start of September. However, strikes by actors and screenwriters last year has meant that fewer films were ready for release this year. The industry has also had to contend with streaming services for both content and customers. The number of cinema tickets sold in North America so far this year is down by almost a quarter compared to the same period in 2023, according to media market research company Comscore. ",BBC,17/06/2024,"[""Pixar's Inside Out 2 has broken box office records over the weekend as it brought in an estimated $295m (£232.6m) around the world."", 'That makes it the strongest global opening by an animated film of all time, parent company Disney said.', ""In North America, ticket sales hit about $155m, dethroning Dune: Part Two as the holder of this year's top box office opening weekend."", 'It marks a big win for cinemas, which have seen lacklustre box office takings for some new movies this year.', ""Inside Out 2's first weekend was much stronger than the original movie, which brought in $90m in its opening weekend before going on to gross $858m worldwide."", 'It was the second-best opening for the company in the North American market, just behind the 2018 release of The Incredibles 2.', 'The blockbuster opening weekend is a boost for Pixar after relatively weak opening performances from some of its recent releases.', 'Inside Out 2 is the first sequel of the 2015 Oscar-winning hit, which focused on the emotions of a young girl called Riley.', 'While the original was about feelings like joy, fear and anger the latest instalment tackles issues such as envy and anxiety.', ""Inside Out 2's successful opening is a bright spot in what has so far been a slow start to summer for film companies."", 'A large part of annual ticket sales usually take place in the period from the first weekend in May to the start of September.', 'However, strikes by actors and screenwriters last year has meant that fewer films were ready for release this year.', 'The industry has also had to contend with streaming services for both content and customers.', 'The number of cinema tickets sold in North America so far this year is down by almost a quarter compared to the same period in 2023, according to media market research company Comscore.']",0.2506296443015656,Inside Out 2's successful opening is a bright spot in what has so far been a slow start to summer for film companies.,Pixar's Inside Out 2 has broken box office records over the weekend as it brought in an estimated $295m (£232.6m) around the world.,0.5998864948749543,"Inside Out 2's first weekend was much stronger than the original movie, which brought in $90m in its opening weekend before going on to gross $858m worldwide.","The number of cinema tickets sold in North America so far this year is down by almost a quarter compared to the same period in 2023, according to media market research company Comscore.",2024-06-17 -McDonald’s pulls AI ordering from drive-thrus — for now,https://edition.cnn.com/2024/06/17/tech/mcdonalds-ai-drive-thru-program/index.html," - Updated - 4:45 PM EDT, Mon June 17, 2024 - ","McDonald’s is pulling the plug on artificial intelligence ordering technology it was testing at more than 100 restaurant drive-thru systems in the US, a possible hiccup in the rapid rollout of AI in the fast food industry. - - The company had worked with IBM to develop and test AI-driven, voice-automated ordering at some of its restaurants. The fast food giant says it’s still working on AI-related solutions at a time when its rivals are making similar investments. - - It plans to shut off the technology in restaurants participating in the test “no later than July 26, 2024,” according to reporting from trade publication Restaurant Business. - - “IBM remains a trusted partner and we will still utilize many of their products across our global System,” McDonald’s said in an email sent to franchisees and shared with CNN. But the company suggested it will look at AI partners other than IBM. - - McDonald’s and IBM launched their partnership in 2021, announcing the development of Automated Order Taking (AOT) technology to create a more convenient and simplified ordering experience for its customers and restaurant teams as a part of its “Accelerating the Arches” growth plan. - - IBM said the AOT technology that emerged from the partnership has “some of the most comprehensive capabilities in the industry, fast and accurate” in demanding conditions. - - “While McDonald’s is revaluating and refining its plans for AOT, we look forward to continuing to work with them on a variety of other projects,” IBM said in a statement. - - McDonald’s says this is not the end of its AI efforts. It plans to “evaluate long-term, scalable solutions” for voice-ordering by the end of 2024. - - McDonald’s is not the only fast-food chain experimenting with AI. Other companies like White Castle tested out an automated drive-thru ordering system in 2021, and Wendy’s expanded its partnership with Google Cloud to roll out its own AI ordering tool in May last year. - - Despite fast-food companies’ enthusiasm to integrate AI-powered solutions into their daily operations, the technology has still hit snags. Some customers have complained about AI getting their orders wrong — a result of the technology’s inability to recognize some accents and distinguish the customer’s voice from background noise.",CNN,17/06/2024,"['McDonald’s is pulling the plug on artificial intelligence ordering technology it was testing at more than 100 restaurant drive-thru systems in the US, a possible hiccup in the rapid rollout of AI in the fast food industry.', 'The company had worked with IBM to develop and test AI-driven, voice-automated ordering at some of its restaurants.', 'The fast food giant says it’s still working on AI-related solutions at a time when its rivals are making similar investments.', 'It plans to shut off the technology in restaurants participating in the test “no later than July 26, 2024,” according to reporting from trade publication Restaurant Business.', '“IBM remains a trusted partner and we will still utilize many of their products across our global System,” McDonald’s said in an email sent to franchisees and shared with CNN.', 'But the company suggested it will look at AI partners other than IBM.', 'McDonald’s and IBM launched their partnership in 2021, announcing the development of Automated Order Taking (AOT) technology to create a more convenient and simplified ordering experience for its customers and restaurant teams as a part of its “Accelerating the Arches” growth plan.', 'IBM said the AOTtechnology that emerged from the partnership has “some of the most comprehensive capabilities in the industry, fast and accurate” indemanding conditions.', '“While McDonald’s is revaluating and refining its plans for AOT, we look forward to continuing to work with them on a variety of other projects,” IBM said in a statement.', 'McDonald’s says this is not the end ofits AI efforts.', 'It plans to“evaluate long-term, scalable solutions” for voice-ordering by the end of 2024.', 'McDonald’s is not the only fast-food chain experimenting with AI.', 'Other companies like White Castle tested out an automated drive-thru ordering system in 2021, and Wendy’s expanded its partnership with Google Cloud to roll out its own AI ordering tool in May last year.', 'Despite fast-food companies’ enthusiasm to integrate AI-powered solutions into their daily operations, the technology has still hit snags.', 'Some customers have complained about AI getting their orders wrong — a result of the technology’s inability to recognize some accents and distinguish the customer’s voice from background noise.']",0.1507611393264536,"“IBM remains a trusted partner and we will still utilize many of their products across our global System,” McDonald’s said in an email sent to franchisees and shared with CNN.",Some customers have complained about AI getting their orders wrong — a result of the technology’s inability to recognize some accents and distinguish the customer’s voice from background noise.,0.0011573135852813,"McDonald’s and IBM launched their partnership in 2021, announcing the development of Automated Order Taking (AOT) technology to create a more convenient and simplified ordering experience for its customers and restaurant teams as a part of its “Accelerating the Arches” growth plan.","McDonald’s is pulling the plug on artificial intelligence ordering technology it was testing at more than 100 restaurant drive-thru systems in the US, a possible hiccup in the rapid rollout of AI in the fast food industry.",2024-06-17 -‘Inside Out 2’ jolts a sleepy summer box office,https://edition.cnn.com/2024/06/16/business/inside-out-2-summer-box-office/index.html," - Published - 5:35 PM EDT, Sun June 16, 2024 - ","It was a weekend no doubt filled with Joy for Disney. The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend. - - Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million. According to Comscore and Disney, “Inside Out 2” has also cinched the No. 2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.” It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far. - - “This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theaters across the United States. “We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.” - - Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office. The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season. - - Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.” - - “Disney is still in the early phases of its refocused theatrical prioritization,” he said. “Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.” - - In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster. - - “Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after “The Marvels” disappointed last November with a $47 million opening weekend. The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26. - - “The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria. - - Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data. But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.” - - “This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.",CNN,16/06/2024,"['It was a weekend no doubt filled with Joy for Disney.', 'The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend.', 'Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million.', 'According to Comscore and Disney, “Inside Out 2” has also cinched the No.', '2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.”', 'It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far.', '“This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtimedata from thousands of movie theaters across the United States. “', 'We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.”', 'Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office.', 'The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.', 'Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.”', '“Disney is still in the early phases of its refocused theatrical prioritization,” he said. “', 'Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.”', 'In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster.', '“Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after“The Marvels” disappointed last Novemberwith a $47 million opening weekend.', 'The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26.', '“The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria.', 'Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data.', 'But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.”', '“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.']",0.136589664167877,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",0.4915643018834731,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",2024-06-17 -China is trying to rescue its property market. Prices are still plunging,https://edition.cnn.com/2024/06/17/business/china-property-price-record-slump-intl-hnk/index.html," - Published - 6:17 AM EDT, Mon June 17, 2024 - ","Prices of new homes in China suffered their biggest fall in nearly a decade last month, in a sign that Beijing’s “historic” real estate rescue has not yet revived demand. - - Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday. That’s the steepest month-on-month drop since October 2014, according to Reuters calculation. - - According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record. - - A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases. - - “To be fair, one month is too short for the housing rescue package to take effect,” said analysts from Societe Generale on Monday. - - Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said. - - Still, other numbers on the real estate sector remain bleak. - - Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday. - - New property sales fell 28% during the same period. - - Some parts of the Chinese economy reported a more optimistic picture, according to a separate set of top indicators released by the NBS on Monday. - - Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts. - - Much of that boost came from a massive government trade-in programs for used cars and old home appliances, aimed at bolstering domestic consumption. The Labor Day “Golden Week” holiday, which ran from May 1 to May 5, also helped reignite some consumer spending. - - Industrial output lost some momentum, growing 5.6% in May from a year ago, compared to April’s 6.7% increase. Fixed asset investment also missed expectations. - - But China’s exports jumped 7.6% in May, marking the fastest pace since April 2023, according to customs data released earlier this month. Imports, however, fell short of estimates. - - “The growth is highly uneven,” with exports as the driver and the property sector acting as a drag, said Macquarie analysts. - - The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak. - - The consumer price index inched up just 0.3% in May, unchanged from April, according to the NBS last week. That was slightly below expectations. - - Producer prices dropped 1.4%, down for a 20th consecutive month. - - “While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday. - - “More attention will turn towards next month’s Third Plenum (of the Communist Party) which will highlight economic reforms for the coming years,” they said.",CNN,17/06/2024,"['Prices of new homes in China suffered their biggest fall in nearly a decade last month, in a sign that Beijing’s “historic” real estate rescue has not yet revived demand.', 'Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday.', 'That’s the steepest month-on-month drop since October 2014, according to Reuters calculation.', 'According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record.', 'A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases.', '“To be fair, one month is too short for the housing rescue package to take effect,” said analysts from Societe Generale on Monday.', 'Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said.', 'Still, other numbers on the real estate sector remain bleak.', 'Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.', 'New property sales fell 28% during the same period.', 'Some parts of the Chinese economy reported a more optimistic picture, according to a separate set of top indicators released by the NBS on Monday.', 'Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts.', 'Much of that boost came from a massive government trade-in programs for used cars and old home appliances, aimed at bolstering domestic consumption.', 'The Labor Day “Golden Week” holiday, which ran from May 1 to May 5, also helped reignite some consumer spending.', 'Industrial output lost some momentum, growing 5.6% in May from a year ago, compared to April’s 6.7% increase.', 'Fixed asset investment also missed expectations.', 'But China’s exports jumped 7.6% in May, marking the fastest pace since April 2023, according to customs data released earlier this month.', 'Imports, however, fell short of estimates.', '“The growth is highly uneven,” with exports as the driver and the property sector acting as a drag, said Macquarie analysts.', 'The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak.', 'The consumer price index inched up just 0.3% in May, unchanged from April, according to the NBS last week.', 'That was slightly below expectations.', 'Producer prices dropped 1.4%, down for a 20th consecutive month.', '“While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday.', '“More attention will turn towards next month’s Third Plenum (of the Communist Party) which will highlight economic reforms for the coming years,” they said.']",0.0947871426060017,"“While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday.",The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak.,-0.3026188301003497,"Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts.","Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.",2024-06-17 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-06-17 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-06-17 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-06-17 -Elon Musk’s multi-billion paycheck just got approved by stockholders. That could be a fraction of what’s coming,https://edition.cnn.com/2024/06/17/business/elon-musk-next-pay-package-tesla/index.html," - Updated - 1:40 PM EDT, Mon June 17, 2024 - ","Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. The question now is, how much will he get going forward? - - The package, made up of 303 million stock options worth more than $47 billion based on the current value of Tesla shares, was thrown out in January by a judge in Delaware, where Tesla has been incorporated. Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness. - - It’s not clear if even with the new shareholder vote that Musk will have the options returned to him, according to legal experts. - - “It’s not an automatic fix. It doesn’t override the decision,” Samantha Crispin, partner and chair of the corporate department at global law firm Baker Botts, told CNN. “The chancellor found a number of defects in the process.” - - But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. So even if the courts in Delaware continue to rule against the pay package, the Tesla board could grant a new stock option award to Musk, although there would be negative tax implications for doing so rather than simply voting to restore the earlier options. - - Musk, who is not paid any kind of cash salary or bonus at Tesla, has been essentially working for free for more than a year, since Tesla hit the financial targets that awarded him the last of the options available in the 2018 package. - - It is clear that Musk believes he needs to receive additional stock options. Earlier this year he said he would not want to grow Tesla to become a leader in artificial intelligence and robotics — areas where he promised growth — without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns. Although, if the 303 million stock options just re-approved by shareholders are restored, and if he exercises those options, his stake would top 20%. - - “I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned,” Musk tweeted in January shortly before McCormick’s ruling. “Unless that is the case, I would prefer to build products outside of Tesla.” But Musk has suggested that the question of a new pay package would likely be delayed until questions about the 2018 package are finally settled. - - Musk was not asked about a new pay package at Thursday’s annual shareholder’s meeting, which observers might consider an absolute love fest as shareholders heaped praise on the billionaire tech mogul. - - But the Tesla board made clear it believes some form of significant compensation is crucial  to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available. - - “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. “Nor does he face any shortage of ideas and other places he can make an incredible difference in the world. We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners.” - - Other Musk fans in the investment community also want to see him get additional shares of Tesla, even if that means their own holdings are diluted. They see Musk as the driving force behind Tesla’s success, and crucial for its success into the future. Some are particularly eager to see him execute his plans for self-driving cars and robotaxis that they believe will change the economics of personal transportation even more than Tesla has changed the auto industry by spurring widespread use of EVs. - - “The idea of him acquiring more shares doesn’t scare me,” said Tasha Keeney, director of investment analysis at ARK Invest, which has the most bullish forecast for Tesla. “I think look at this as an extreme pivotal moment. That’s why it’s important to have Elon at Tesla and engaged and incentivized appropriately.” - - Musk told shareholders Thursday he’s not planning on going anywhere, and said he thinks Tesla could succeed even without him, although he described himself as an “accelerant” to that success. - - It’s not clear how much any additional holdings would be needed to provide Musk with financial incentives to focus on Tesla, and take him to unprecedented levels of wealth. If the company’s stock does as well as Musk and his fans predict, his current holdings would appreciate in value so much that his 2018 $47 billion pay package will look like an afterthought. - - Ark Invest has a five-year target price for Tesla shares at $2,600 a share. That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029. - - Even if Musk doesn’t get the options from 2018 restored, his current holdings of 411 million shares, which are today worth a mere $73 billion, would be worth more than $1 trillion if Tesla shares hit that $2,600 target. That likely would make Musk the world’s first trillionaire, with his net worth rising more than the current net worths of the next five people on Bloomberg’s Billionaires list — Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page and Bill Gates — combined. And that doesn’t even count his holdings in other companies such as SpaceX. - - Not everyone on that list got there through packages of stock options. For example, Bezos, the founder of Amazon, and Zuckerberg, who co-founded Facebook, both took large stakes in their companies as founders, but neither has received stock grants or options since those companies had initial public offerings in 1997 and 2012, respectively. - - In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”",CNN,17/06/2024,"['Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years.', 'The question now is, how much will he get going forward?', 'The package, made up of 303 million stock options worth more than $47 billion based on the current value of Tesla shares, was thrown out in January by a judge in Delaware, where Tesla has been incorporated.', 'Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness.', 'It’s not clear if even with the new shareholder vote that Musk will have the options returned to him, according to legal experts.', '“It’s not an automatic fix.', 'It doesn’t override the decision,” Samantha Crispin, partner and chair of the corporate department at global law firm Baker Botts, told CNN. “', 'The chancellor found a number of defects in the process.”', 'But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision.', 'So even if the courts in Delaware continue to rule against the pay package, the Tesla board could grant a new stock option award to Musk, although there would be negative tax implications for doing so rather than simply voting to restore the earlier options.', 'Musk, who is not paid any kind of cash salary or bonus at Tesla, has been essentially working for free for more than a year, since Tesla hit the financial targets that awarded him the last of the options available in the 2018 package.', 'It is clear that Musk believes he needs to receive additional stock options.', 'Earlier this year he said he would not want to grow Tesla to become a leader in artificial intelligence and robotics — areas where he promised growth — without a compensation plan that wouldgive him ownership of around 25% of the company’s stock.', 'That would be about double the roughly 13% stake he currently owns.', 'Although, if the 303 million stock options just re-approved by shareholders are restored, and if he exercises those options, his stake would top 20%.', '“I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control.', 'Enough to be influential, but not so much that I can’t be overturned,” Musk tweeted in January shortly before McCormick’s ruling. “', 'Unless that is the case, I would prefer to build products outside of Tesla.”', 'But Musk has suggested that the question of a new pay package would likely be delayed until questions about the 2018 package are finally settled.', 'Musk was not asked about a new pay package at Thursday’s annual shareholder’s meeting, which observers might consider an absolute love fest as shareholders heaped praise on the billionaire tech mogul.', 'But the Tesla board made clear it believes some form of significant compensation is crucial to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available.', '“What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. “', 'Nor does he face any shortage of ideas and other places he can make an incredible difference in the world.', 'We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners.”', 'Other Musk fans in the investment community also want to see him get additional shares of Tesla, even if that means their own holdings are diluted.', 'They see Musk as the driving force behind Tesla’s success, and crucial for its success into the future.', 'Some are particularly eager to see him execute his plans for self-driving cars and robotaxis that they believe will change the economics of personal transportation even more than Tesla has changed the auto industry by spurring widespread use of EVs.', '“The idea of him acquiring more shares doesn’t scare me,” said Tasha Keeney, director of investment analysis at ARK Invest, which has the most bullish forecast for Tesla. “', 'I think look at this as an extreme pivotal moment.', 'That’s why it’s important to have Elon at Tesla and engaged and incentivized appropriately.”', 'Musk told shareholders Thursday he’s not planning on going anywhere, and said he thinks Tesla could succeed even without him, although he described himself as an “accelerant” to that success.', 'It’s not clear how much any additional holdings would be needed to provide Musk with financial incentives to focus on Tesla, and take him to unprecedented levels of wealth.', 'If the company’s stock does as well as Musk and his fans predict, his current holdings would appreciate in value so much that his 2018 $47 billion pay package will look like an afterthought.', 'Ark Invest has a five-year target price for Tesla shares at $2,600 a share.', 'That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029.', 'Even if Musk doesn’t get the options from 2018 restored, his current holdings of 411 million shares, which are today worth a mere $73 billion, would be worth more than $1 trillion if Tesla shares hit that $2,600 target.', 'That likely would make Musk the world’s first trillionaire, with his net worth rising more than the current net worths of the next five people on Bloomberg’s Billionaires list — Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page and Bill Gates — combined.', 'And that doesn’t even count his holdings in other companies such as SpaceX. Not everyone on that list got there through packages of stock options.', 'For example, Bezos, the founder of Amazon, and Zuckerberg, who co-founded Facebook, both took large stakes in their companies as founders, but neither has received stock grants or options since those companies had initial public offerings in 1997 and 2012, respectively.', 'In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”']",0.3231768302865287,"But the Tesla board made clear it believes some form of significant compensation is crucial to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available.","In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”",0.668275777498881,"That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029.",Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness.,2024-06-17 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-06-17 -‘Just too burnt out’: Child care crisis crunches providers,https://edition.cnn.com/2024/06/15/business/child-care-crisis-providers/index.html," - Published - 9:00 AM EDT, Sat June 15, 2024 - ","For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work. - - “Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “And my response is always, ‘Well, I can’t do what you do either! So I’ll watch your kids and you go do that, because I’m better at this.’” - - Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks. She announced in May that she’s closing her doors before the end of August. - - “It’s emotionally and physically and mentally demanding,” Elandt says. “There’s not benefits. The pay is not anywhere near what it should be. And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.” - - Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike. - - Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia. The report looked at care for an infant and a 4-year-old. - - While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable. Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food. Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge. - - “If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says. - - The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay. Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. - - “It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure. - - The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies. Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic. - - The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.” - - An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act. Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat. - - Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden. She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff. In some cases the higher wages weren’t enough. A few months ago, she says, one of her employees left for a factory: “She needed to make a living.” - - The stresses of managing a tight budget and dealing with staff turnover have taken a toll.Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged. In May, she made the formal announcement that this summer would be the center’s last. - - The news left families and staff scrambling. Higgins, who is also a parent at My First Adventure, described the moment as “panic.” - - As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge. - - “It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “I think everybody was really aware during the height of the pandemic, with the critical workers and things like that. I don’t know if that has started to fade out for people.” - - The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership. As it stands, My First Adventure is expected to close in July. - - This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher. Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions. - - “We are literally shaping tomorrow’s youth,” Higgins says. “I think that needs to start being reflected in compensation and policies and where government funding is being directed.”",CNN,15/06/2024,"['For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work.', '“Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “', 'And my response is always, ‘Well, I can’t do what you do either!', 'So I’ll watch your kids and you go do that, because I’m better at this.’”', 'Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks.', 'She announced in May that she’s closing her doors before the end of August.', '“It’s emotionally and physically and mentally demanding,” Elandt says. “', 'There’s not benefits.', 'The pay is not anywhere near what it should be.', 'And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.”', 'Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike.', 'Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latestannual report.', 'Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state.', 'And the tab exceeded annualtypicalmortgage payments in 45 states, plus the District of Columbia.', 'The report looked at care for an infant and a 4-year-old.', 'While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable.', 'Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food.', 'Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge.', '“If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says.', 'The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high.', 'The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay.', 'Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants.', 'The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics.', '“It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure.', 'The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.', 'Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic.', 'The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children.', 'But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.”', 'An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.', 'Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat.', 'Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden.', 'She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.', 'In some cases the higher wages weren’t enough.', 'A few months ago, she says, one of her employees left for a factory: “She needed to make a living.”', 'The stresses of managing a tight budget and dealing with staff turnover have taken a toll.', 'Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged.', 'In May, she made the formal announcement that this summer would be the center’s last.', 'The news left families and staff scrambling.', 'Higgins, who is also a parent at My First Adventure, described the moment as “panic.”', 'As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge.', '“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “', 'I think everybody was really aware during the height of the pandemic, with the critical workers and things like that.', 'I don’t know if that has started to fade out for people.”', 'The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership.', 'As it stands, My First Adventure is expected to close in July.', 'This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher.', 'Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions.', '“We are literally shaping tomorrow’s youth,” Higgins says. “', 'I think that needs to start being reflected in compensation and policies and where government funding is being directed.”']",0.1751321793448637,"An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.","“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “",-0.2154543910707746,"The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.",She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.,2024-06-17 -Church community-owned solar farm plan approved,https://www.bbc.co.uk/news/articles/cmllrn2v2m9o,2024-06-14T05:26:46.971Z,"A community-owned solar farm is set to be built by the end of next year. The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee. Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed. The scheme will connect the solar array to a substation on Blackburn Road. It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal. Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025. Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “It will put Hyndburn in the forefront of the green revolution and renewable energy generation.” Peel ward’s councillor Clare Pritchard said: “I support this application. It is something we need more of in the borough.” Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.” Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.” Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas to northwest.newsonline@bbc.co.uk ",BBC,14/06/2024,"['A community-owned solar farm is set to be built by the end of next year.', ""The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee."", 'Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed.', 'The scheme will connect the solar array to a substation on Blackburn Road.', 'It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal.', 'Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.', 'Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “', 'It will put Hyndburn in the forefront of the green revolution and renewable energy generation.”', 'Peel ward’s councillor Clare Pritchard said: “I support this application.', 'It is something we need more of in the borough.”', 'Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.”', 'Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”', 'Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram.', 'You can also send story ideas to northwest.newsonline@bbc.co.uk']",0.2997221843474639,Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.,"Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “",0.989383856455485,Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”,,2024-06-17 -RV sales are picking up. That’s a good sign for the economy,https://edition.cnn.com/2024/06/16/economy/rv-sales-economy/index.html," - Published - 10:30 AM EDT, Sun June 16, 2024 - ","At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by. - - The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance. - - That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016. Bookings are light; plus, the people who are traveling are taking shorter trips, she said. - - “We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “I actually think it has a lot to do with people having less discretionary spending available.” - - She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.” - - On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism. - - The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether. - - When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. - - RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering. - - “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.” - - RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval. - - So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said. - - Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green. - - “We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call. - - The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet. - - “We’ve been able to get a little creative with it,” Shneyder said. “Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.” - - And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some. - - “We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “And so now we’ve rented it out for them.” - - Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said. - - The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said. - - “Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic. This ate into 2022 and 2023 sales.” - - RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association. - - By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000. - - Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA. In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said. - - Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows. - - Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data. That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion. - - Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added. - - The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units. That’s expected to grow next year to between 374,200 to 408,600. - - The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said. - - “We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.” - - To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana. - - The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.” Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart. - - “And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart. - - Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows. - - When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain. - - In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns. Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%. - - It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time. - - “Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “However, we haven’t seen any of the large job cuts we did during the Great Recession. [The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.” - - At the dealer level, there’s optimism as well. - - Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium. - - Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs. - - Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said. - - “Election years are always off, so we’ll be happy when we get through November,” he said. “Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past. It really doesn’t matter who wins, just as long as it’s done.” - - Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said. - - “You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.” - - He added: “Here in Elkhart it does seem business as usual. Could business be better? Of course it could. But could it be worse? It sure could.”",CNN,16/06/2024,"['At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by.', 'The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance.', 'That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016.', 'Bookings are light; plus, the people who are traveling are taking shorter trips, she said.', '“We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “', 'I actually think it has a lot to do with people having less discretionary spending available.”', 'She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.”', 'On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.', 'The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether.', 'When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.', 'RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering.', '“People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “', 'It’s so sensitive to interest rate changes, which often precede a downturn.”', 'RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval.', 'So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said.', 'Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green.', '“We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call.', 'The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet.', '“We’ve been able to get a little creative with it,” Shneyder said. “', 'Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.”', 'And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some.', '“We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “', 'And so now we’ve rented it out for them.”', 'Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said.', 'The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said.', '“Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “', 'So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic.', 'This ate into 2022 and 2023 sales.”', 'RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before.', 'They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.', 'By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000.', 'Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA.', 'In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said.', 'Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.', 'Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data.', 'That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion.', 'Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added.', 'The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units.', 'That’s expected to grow next year to between 374,200 to 408,600.', 'The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said.', '“We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “', 'Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.”', 'To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana.', 'The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.”', 'Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart.', '“And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart.', 'Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows.', 'When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.', 'In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns.', 'Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%.', 'It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time.', '“Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “', 'However, we haven’t seen any of the large job cuts we did during the Great Recession. [', 'The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.”', 'At the dealer level, there’s optimism as well.', 'Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium.', 'Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs.', 'Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said.', '“Election years are always off, so we’ll be happy when we get through November,” he said. “', 'Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past.', 'It really doesn’t matter who wins, just as long as it’s done.”', 'Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said.', '“You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “', 'I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.”', 'He added: “Here in Elkhart it does seem business as usual.', 'Could business be better?', 'Of course it could.', 'But could it be worse?', 'It sure could.”']",0.1770719017981792,"On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.","When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.",0.1214437454174726,"That’s expected to grow next year to between 374,200 to 408,600.","Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.",2024-06-17 -How Carvel’s Fudgie the Whale became a Father’s Day icon,https://edition.cnn.com/2024/06/16/food/fudgie-the-whale-carvel-history/index.html," - Published - 2:00 AM EDT, Sun June 16, 2024 - ","Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale. - - Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters. - - Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand. It was made to fill the freezer cases that founder Tom Carvel had made for his shops. Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day. - - Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented. He decided to top it with fudge, because it was one of Carvel’s most popular toppings. - - To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.” Then it’s topped with soft-serve chocolate ice cream and frozen for several hours. After that, it’s topped with hot fudge with more crunchies on the side. The cakes sell for about $30. - - Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said. - - “The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue. It’s a big holiday to bring cake home,” Salerno told CNN. - - Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too. Carvel sells nearly 100,000 Fudgies a year. - - Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past. They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm. - - Carvel could use a boost. Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data. Carvel is owned by privately held Go To Foods (f.k.a. Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio. - - “For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN. - - Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose. That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers. - - “It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.” - - Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball. - - Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades. - - The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick. Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape. - - Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state. - - It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons. Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday. - - Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion. - - For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers. - - “We as a brand made sure to keep him front and center,” Salerno said. “It’s amazing how well-known and how well loved he is.”",CNN,16/06/2024,"['Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale.', 'Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters.', 'Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand.', 'It was made to fill the freezer cases that founder Tom Carvel had made for his shops.', 'Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day.', 'Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented.', 'He decided to top it with fudge, because it was one of Carvel’s most popular toppings.', 'To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.”', 'Then it’s topped with soft-serve chocolate ice cream and frozen for several hours.', 'After that, it’s topped with hot fudge with more crunchies on the side.', 'The cakes sell for about $30.', 'Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said.', '“The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue.', 'It’s a big holiday to bring cake home,” Salerno told CNN.', 'Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too.', 'Carvel sells nearly 100,000 Fudgies a year.', 'Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past.', 'They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.', 'Carvel could use a boost.', 'Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.', 'Carvel is owned by privately held Go To Foods (f.k.a.', 'Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio.', '“For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN.', 'Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose.', 'That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers.', '“It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “', 'But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.”', 'Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball.', 'Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.', 'The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick.', 'Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape.', 'Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state.', 'It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons.', 'Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday.', 'Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion.', 'For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers.', '“We as a brand made sure to keep him front and center,” Salerno said. “', 'It’s amazing how well-known and how well loved he is.”']",0.2545999209117467,It’s amazing how well-known and how well loved he is.”,"Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.",0.743081271648407,"They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.","Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.",2024-06-17 -Surgeon general demands warning label on social media apps,https://edition.cnn.com/2024/06/17/media/surgeon-general-social-media-apps-warning-label/index.html," - Updated - 8:28 PM EDT, Mon June 17, 2024 - ","Surgeon General Dr. Vivek Murthy said the threat social media poses to children requires urgent action, and he demanded Congress to put a label on the apps as it does with cigarettes and alcohol. - - “The mental health crisis among young people is an emergency — and social media has emerged as an important contributor,” Murthy said in an op-ed in the New York Times Monday. - - Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression. Teens spend nearly five hours a day on social media apps, according to a Gallup poll. - - In an interview with CNN’s Meg Tirrell, Murthy said that the prevalence of social media use among kids is over 95%, “nearly universal.” - - But Murthy cannot act unilaterally to put a warning label on apps — that requirement would have to come from Congress, with whom Murthy pleaded to pass a bill. - - “I put forward this call for a warning because I think it’s essential that parents know what we now know, which is that there are significant harms associated with social media use,” Murthy told CNN. - - Similar labels on tobacco, first instituted in 1965, led to a steady decline in cigarette smoking in America over the past several decades. - - Congress has long chastised social media companies, claiming they pose harm to children. CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment. But Congress has taken little action to curb children’s social media usage. - - Murthy argued that it’s time for Congress to get serious about curbing children’s use of social media. - - “Until that point in time, when we have reliable evidence that tells us social media is safe and changes are being made and will be made in the future… parents deserve to be warned. That’s where the label comes in,” Murthy told CNN, adding that he hopes Congress will introduce legislation to add a surgeon general’s warning label on social media as soon as possible. “I think this is an urgent issue.” - - Murthy has warned about social media’s harm to children’s welfare for years. But Monday’s declaration of an emergency and his appeal to Congress represent his most urgent call to action on the issue so far. - - In May 2023, Murthy issued an advisory that said there’s not enough evidence to determine whether social media is safe enough for children and adolescents’ mental health, saying social media use presents “a profound risk of harm” for kids. - - He suggested parents restrict their kids’ social media use, saying 13 is too young to join social apps. But such advisories are designed to call attention to urgent public health – they don’t require action. - - “We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “For too long, we have placed the entire burden of managing social media on the shoulders of parents and kids, despite the fact that these platforms are designed by some of the most talented engineers and designers in the world to maximize the amount of time that our kids spend on them.” - - On CNN’s “Chasing Life” podcast with Dr. Sanjay Gupta in June 2023, Murthy outlined some steps parents can take to rein in their children’s social media usage, including partnering with other parents to make sure kids lack the “I’m the only one without social media” excuse. - - A warning label, if Congress passes legislation requiring one, would be insufficient to fix the problem, Murthy acknowledged. - - He suggested schools become phone-free environments for children, as should dinner time and other family events. And Murthy urged parents to restrict children’s use of social media until they graduate from middle school. - - Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app. The bills have been largely bipartisan. - - Florida’s Republican Gov. Ron DeSantis in March signed a bill that would prohibit children under 14 from obtaining their own social media accounts, and children under 16 would need parental consent to have accounts. New York Democratic Gov. Kathy Hochul said she would sign legislation passed by the state legislature that would ban social media from using algorithms in children’s feeds, and the bill would also prevent tech companies from sharing information of children under 18. - - “This is much easier said than done, which is why parents should work together with other families to establish shared rules, so no parents have to struggle alone or feel guilty when their teens say they are the only one who has to endure limits,” Murthy wrote in the New York Times. - - On Monday, Murthy confirmed to CNN that alcohol and cigarettes are currently the only two products with surgeon general warning labels but that the overall health risk of social media is “just as profound.” - - “We’re talking about the mental health and wellbeing of kids,” he said.",CNN,17/06/2024,"['Surgeon General Dr. Vivek Murthy said the threat social media poses to children requires urgent action, and he demanded Congress to put a label on the apps as it does with cigarettes and alcohol.', '“The mental health crisis among young people is an emergency — and social media has emerged as an important contributor,” Murthy said in an op-ed in the New York Times Monday.', 'Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression.', 'Teens spend nearly five hours a day on social media apps, according to a Gallup poll.', 'In an interview with CNN’s Meg Tirrell, Murthy said that the prevalence of social media use among kids is over 95%, “nearly universal.”', 'But Murthy cannot act unilaterally to put a warning label on apps — that requirement would have to come from Congress, with whom Murthy pleaded to pass a bill.', '“I put forward this call for a warning because I think it’s essential that parents know what we now know, which is that there are significant harms associated with social media use,” Murthy told CNN.', 'Similar labels on tobacco, first instituted in 1965, led to a steady decline in cigarette smoking in America over the past several decades.', 'Congress has long chastised social media companies, claiming they pose harm to children.', 'CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment.', 'But Congress has taken little action to curb children’s social media usage.', 'Murthy argued that it’s time for Congress to get serious about curbing children’s use of social media.', '“Until that point in time, when we have reliable evidence that tells us social media is safe and changes are being made and will be made in the future… parents deserve to be warned.', 'That’s where the label comes in,” Murthy told CNN, adding that he hopes Congress will introduce legislation to add a surgeon general’s warning label on social media as soon as possible. “', 'I think this is an urgent issue.”', 'Murthy has warned about social media’s harm to children’s welfare for years.', 'But Monday’s declaration of an emergency and his appeal to Congress represent his most urgent call to action on the issue so far.', 'In May 2023, Murthy issued an advisory that said there’s not enough evidence to determine whether social media is safe enough for children and adolescents’ mental health, saying social media use presents “a profound risk of harm” for kids.', 'He suggested parents restrict their kids’ social media use, saying 13 is too young to join social apps.', 'But such advisories are designed to call attention to urgent public health – they don’t require action.', '“We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “', 'For too long, we have placed the entire burden of managing social media on the shoulders of parents and kids, despite the fact that these platforms are designed by some of the most talented engineers and designers in the world to maximize the amount of time that our kids spend on them.”', 'On CNN’s “Chasing Life” podcast with Dr. Sanjay Gupta in June 2023, Murthy outlined some steps parents can take to rein in their children’s social media usage, including partnering with other parents to make sure kids lack the “I’m the only one without social media” excuse.', 'A warning label, if Congress passes legislation requiring one, would be insufficient to fix the problem, Murthy acknowledged.', 'He suggested schools become phone-free environments for children, as should dinner time and other family events.', 'And Murthy urged parents to restrict children’s use of social media until they graduate from middle school.', 'Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app.', 'The bills have been largely bipartisan.', 'Florida’s Republican Gov. Ron DeSantis in March signed a bill that would prohibit children under 14 from obtaining their own social media accounts, and children under 16 would need parental consent to have accounts.', 'New York Democratic Gov. Kathy Hochul said she would sign legislation passed by the state legislature that would ban social media from using algorithms in children’s feeds, and the bill would also prevent tech companies from sharing information of children under 18.', '“This is much easier said than done, which is why parents should work together with other families to establish shared rules, so no parents have to struggle alone or feel guilty when their teens say they are the only one who has to endure limits,” Murthy wrote in the New York Times.', 'On Monday, Murthy confirmed to CNN that alcohol and cigarettes are currently the only two products with surgeon general warning labels but that the overall health risk of social media is “just as profound.”', '“We’re talking about the mental health and wellbeing of kids,” he said.']",-0.2170621141236108,"Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app.","CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment.",-0.4068378295217241,"Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression.","“We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “",2024-06-17 -Boeing investigated after 'Dutch roll',https://www.bbc.co.uk/news/articles/c722j0rryrxo,2024-06-14T17:02:52.917Z,"US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll. It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed. The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes. The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny. Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation. Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers. It said tests performed so far indicate that the correct alloy was used, despite the false documentation. The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely,” the company said. The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion. Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""The problem is we've lost traceability."" The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue. Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"". The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California. The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage. A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics. The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant. After the incident came to light, Boeing sent a message to aircraft operators, which implied that the aircraft might have been damaged while on the ground. ""Initial review of publicly available weather data indicates the event airplane was potentially exposed to a high wind event during May 2024 prior to the event flight. While a probable cause has not been established for this event by the NTSB, Boeing reminds all operators of the importance of high wind inspections,"" it said. Safety campaigners have raised alarm about the quality of recent planes produced by Boeing. An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing. Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues. Theo Leggett contributed to this article. ",BBC,14/06/2024,"['US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll.', 'It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed.', 'The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes.', 'The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny.', 'Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation.', 'Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers.', 'It said tests performed so far indicate that the correct alloy was used, despite the false documentation.', 'The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""', 'To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely,” the company said.', 'The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion.', 'Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""', 'It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""', 'The problem is we\'ve lost traceability.""', 'The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue.', 'Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".', 'The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California.', 'The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.', 'A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""', 'Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics.', 'The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant.', 'After the incident came to light, Boeing sent a message to aircraft operators, which implied that the aircraft might have been damaged while on the ground. ""', 'Initial review of publicly available weather data indicates the event airplane was potentially exposed to a high wind event during May 2024 prior to the event flight.', 'While a probable cause has not been established for this event by the NTSB, Boeing reminds all operators of the importance of high wind inspections,"" it said.', 'Safety campaigners have raised alarm about the quality of recent planes produced by Boeing.', 'An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing.', 'Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues.', 'Theo Leggett contributed to this article.']",-0.0429006905137657,"Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".","The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.",-0.7044290815080915,"Our analysis shows the in-service fleet can continue to fly safely,” the company said.","The problem is we've lost traceability.""",2024-06-17 -London Stock Exchange becomes Europe's largest stock market again,https://www.bbc.co.uk/news/articles/cqee1vpe3deo,2024-06-17T15:20:18.532Z,"The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows. The total value of companies listed on the London Stock Exchange (LSE) hit $3.18tn on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data. Both valuations have shifted since and remain close, but analysts describe it as a milestone. They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance. The LSE had been Europe’s largest stock market for many years before November 2022 when it was overtaken. Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit. The LSE was worth about $1.4tn more than its Parisian rival in 2016. Analysts say that market investors generally dislike uncertainty - and there are many questions about what the French snap election called by the president will mean. President Emmanuel Macron called the snap election earlier this month, following a victory for his rival Marine Le Pen's right-wing National Rally in European elections. Hargreaves Lansdown's money and markets head Susannah Streeter suggested though that Le Pen's manifesto contains ""unfunded spending"". ""They are not so focused about winning over the market,"" said Ms Streeter. Financial markets often react badly when they do not know where the money for a government's pledges will come from. This is because it affects the value of bonds, which is money investors loan the government at a rate agreed by the market. If investors believe that a government or potential government's policies don't add up, the interest rate on bonds, known as the yield, tends to rise. This then hurts the value of listed companies, because if the bond yield is very high then investors can often make more money lending to the government than investing in a company's shares. Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"". The Conservative party has also been trying to convince investors of its approach. Chancellor Jeremy Hunt told the Wall Street Journal chief executives' council summit last month: ""I think London’s stock market demise is massively overstated."" ""We do have challenges, and we’re addressing those challenges.” One of the biggest challenges facing the LSE over the last decade has been pitching to investors and companies tempted by American exchanges. A number of big firms, including ones based in the UK, have chosen to list in the US rather than the UK. This has driven up the value of American stocks, which then encourages even more companies to list there. The S&P All-Share index, which tracks the value of every listed company in the US, has soared over 85% over the last five years. The equivalent FTSE All-Share index has increased by less than a tenth over the same time period. However, since the start of this year, the UK index has picked up, which AJ Bell's investment director Russ Mould said is partly due to clarity on interest rates. They are expected to go down at some point this year, meaning British companies can borrow money for less. Despite this, British stocks are much cheaper than American stocks relative to their earnings, and Mould suggests investors may be overvaluing US companies and undervaluing UK ones. He noted that the main US exchanges are heavily dependent on a handful of highly-valued tech stocks, including Google, Apple, and Amazon, but did not believe this would be sustainable in the long-term. ""If everyone is sitting on one side of the boat, it's going to tip over eventually,"" he said. ",BBC,17/06/2024,"['The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows.', 'The total value of companies listed on the London Stock Exchange (LSE) hit $3.18tn on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data.', 'Both valuations have shifted since and remain close, but analysts describe it as a milestone.', 'They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.', 'The LSE had been Europe’s largest stock market for many years before November 2022 when it was overtaken.', 'Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit.', 'The LSE was worth about $1.4tn more than its Parisian rival in 2016.', 'Analysts say that market investors generally dislike uncertainty - and there are many questions about what the French snap election called by the president will mean.', ""President Emmanuel Macron called the snap election earlier this month, following a victory for his rival Marine Le Pen's right-wing National Rally in European elections."", 'Hargreaves Lansdown\'s money and markets head Susannah Streeter suggested though that Le Pen\'s manifesto contains ""unfunded spending"". ""', 'They are not so focused about winning over the market,"" said Ms Streeter.', ""Financial markets often react badly when they do not know where the money for a government's pledges will come from."", 'This is because it affects the value of bonds, which is money investors loan the government at a rate agreed by the market.', ""If investors believe that a government or potential government's policies don't add up, the interest rate on bonds, known as the yield, tends to rise."", ""This then hurts the value of listed companies, because if the bond yield is very high then investors can often make more money lending to the government than investing in a company's shares."", 'Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"".', 'The Conservative party has also been trying to convince investors of its approach.', 'Chancellor Jeremy Hunt told the Wall Street Journal chief executives\' council summit last month: ""I think London’s stock market demise is massively overstated."" ""', 'We do have challenges, and we’re addressing those challenges.”', 'One of the biggest challenges facing the LSE over the last decade has been pitching to investors and companies tempted by American exchanges.', 'A number of big firms, including ones based in the UK, have chosen to list in the US rather than the UK.', 'This has driven up the value of American stocks, which then encourages even more companies to list there.', 'The S&P All-Share index, which tracks the value of every listed company in the US, has soared over 85% over the last five years.', 'The equivalent FTSE All-Share index has increased by less than a tenth over the same time period.', ""However, since the start of this year, the UK index has picked up, which AJ Bell's investment director Russ Mould said is partly due to clarity on interest rates."", 'They are expected to go down at some point this year, meaning British companies can borrow money for less.', 'Despite this, British stocks are much cheaper than American stocks relative to their earnings, and Mould suggests investors may be overvaluing US companies and undervaluing UK ones.', 'He noted that the main US exchanges are heavily dependent on a handful of highly-valued tech stocks, including Google, Apple, and Amazon, but did not believe this would be sustainable in the long-term. ""', 'If everyone is sitting on one side of the boat, it\'s going to tip over eventually,"" he said.']",0.1699293819235695,"Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"".","Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit.",-0.0061974809283301,The equivalent FTSE All-Share index has increased by less than a tenth over the same time period.,"They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.",2024-06-17 -US surgeon general wants social media warning labels,https://www.bbc.co.uk/news/articles/c98821dn27lo,2024-06-17T14:09:31.730Z,"One of America's most senior health officials has called on the country to impose smoking-style warning labels on social media platforms. Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression. He wants people who visit these platforms to be shown a message warning that they are ""associated with significant mental health harms for adolescents"". He said such a label would ""regularly remind parents and adolescents that social media has not been proved safe"". The BBC has approached Youtube, TikTok, X and Meta, which owns Facebook and Instagram, for comment. Warning labels were first added to cigarette packaging in the US in 1966, after then-Surgeon General Luther L Terry published a report linking tobacco to lung cancer. Other countries then followed, with the UK requiring a similar message to be printed on packets in 1971. Mr Murthy said that the evidence showed adding these labels to tobacco packaging increased awareness of the risks associated with smoking. And he believes that a similar warning applied to social media platforms would encourage parents to monitor their child's safety online. In the article, he also called for phone use to be banned in schools, and said parents should stop children from using devices during meals and at bedtime. It comes after Mr Murthy published a public health advisory in 2023 which found a link between teenage social media use and poor mental health. But he accepts that there is no academic consensus on the impact of these platforms, and is calling for more research to be done. ""In an emergency, you don’t have the luxury to wait for perfect information,"" he said. ""You assess the available facts, you use your best judgment, and you act quickly. ""The mental health crisis among young people is an emergency - and social media has emerged as an important contributor."" Gin Lalli, psychotherapist and author of How to Empty Your Stress Bucket, told the BBC warning labels would be ""a significant step towards promoting better mental health and wellbeing"". She said that social media may have many benefits, but there may also be some risks such as cyberbullying or exposure to harmful content. ""These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more."" She said a warning label would act as a reminder for people to be mindful of their usage, and to take regular breaks. ""I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said. There is an ongoing debate about the impact of social media on young people. Some research has found a link between heavy social media use and a negative impact on teenagers' mental health, and other research has linked teenage social media use to a reduction in how satisfied children feel with their lives. But a 2023 study found no evidence linking the global spread of Facebook and widespread psychological harm, while other research reported some children benefit from spending time online speaking to friends they already know offline. And the American Psychological Association says social media is ""not inherently beneficial or harmful"", though it warns of problematic use and wants content removed which encourages harm. It also said ""most"" under-14s should be monitored while using social media. In the UK, tech firms will have to take more action to keep children safe on the internet, with the Online Safety Act set to come into force in 2025. Media regulator Ofcom set out new rules for tech firms in May, requiring them to have robust age-checking measures and to steer children away from ""toxic"" material. But parents of children who died after exposure to harmful online content want the rules to go further. ",BBC,17/06/2024,"[""One of America's most senior health officials has called on the country to impose smoking-style warning labels on social media platforms."", 'Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression.', 'He wants people who visit these platforms to be shown a message warning that they are ""associated with significant mental health harms for adolescents"".', 'He said such a label would ""regularly remind parents and adolescents that social media has not been proved safe"".', 'The BBC has approached Youtube, TikTok, X and Meta, which owns Facebook and Instagram, for comment.', 'Warning labels were first added to cigarette packaging in the US in 1966, after then-Surgeon General Luther L Terry published a report linking tobacco to lung cancer.', 'Other countries then followed, with the UK requiring a similar message to be printed on packets in 1971.', 'Mr Murthy said that the evidence showed adding these labels to tobacco packaging increased awareness of the risks associated with smoking.', ""And he believes that a similar warning applied to social media platforms would encourage parents to monitor their child's safety online."", 'In the article, he also called for phone use to be banned in schools, and said parents should stop children from using devices during meals and at bedtime.', 'It comes after Mr Murthy published a public health advisory in 2023 which found a link between teenage social media use and poor mental health.', 'But he accepts that there is no academic consensus on the impact of these platforms, and is calling for more research to be done. ""', 'In an emergency, you don’t have the luxury to wait for perfect information,"" he said. ""', 'You assess the available facts, you use your best judgment, and you act quickly. ""', 'The mental health crisis among young people is an emergency - and social media has emerged as an important contributor.""', 'Gin Lalli, psychotherapist and author of How to Empty Your Stress Bucket, told the BBC warning labels would be ""a significant step towards promoting better mental health and wellbeing"".', 'She said that social media may have many benefits, but there may also be some risks such as cyberbullying or exposure to harmful content. ""', 'These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more.""', 'She said a warning label would act as a reminder for people to be mindful of their usage, and to take regular breaks. ""', 'I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.', 'There is an ongoing debate about the impact of social media on young people.', ""Some research has found a link between heavy social media use and a negative impact on teenagers' mental health, and other research has linked teenage social media use to a reduction in how satisfied children feel with their lives."", 'But a 2023 study found no evidence linking the global spread of Facebook and widespread psychological harm, while other research reported some children benefit from spending time online speaking to friends they already know offline.', 'And the American Psychological Association says social media is ""not inherently beneficial or harmful"", though it warns of problematic use and wants content removed which encourages harm.', 'It also said ""most"" under-14s should be monitored while using social media.', 'In the UK, tech firms will have to take more action to keep children safe on the internet, with the Online Safety Act set to come into force in 2025.', 'Media regulator Ofcom set out new rules for tech firms in May, requiring them to have robust age-checking measures and to steer children away from ""toxic"" material.', 'But parents of children who died after exposure to harmful online content want the rules to go further.']",-0.1419030356442785,"I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.","These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more.""",-0.0789660594680092,"I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.","Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression.",2024-06-17 -Hyundai: India’s biggest IPO could come from South Korean car manufacturer,https://edition.cnn.com/2024/06/17/cars/india-hyundai-ipo-south-korea-intl-hnk/index.html," - Published - 12:39 AM EDT, Mon June 17, 2024 - ","Hyundai Motor’s India unit sought regulatory approval on Saturday for a stock market listing in Mumbai, which could be the nation’s biggest and will see the South Korean parent sell a stake of up to 17.5% in the company. - - The initial public offering (IPO) will make it the country’s first car maker to go public in two decades since Maruti Suzuki in 2003, and would come just as Indian stock markets are trading near record highs. - - Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade. The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. - - The Hyundai draft prospectus filed gave no details of the pricing of the IPO or the company’s valuation, but sources have said Hyundai aims to raise around $2.5 to $3 billion at a valuation of up to $30 billion. - - Hyundai, India’s second-biggest car maker behind Maruti Suzuki, will not issue new shares in the IPO, which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called “offer for sale” route. - - The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors and other rivals as it could make future fundraising easier, without the need to depend on its Korean parent. - - Hyundai expects the listing of the equity shares in India “will enhance our visibility and brand image,” and “provide liquidity and a public market” for the shares, the company said in the draft prospectus filed on Saturday. - - It did not provide a timeline for the listing, but typically India’s markets regulator, the Securities and Exchange Board of India, takes three to six months to approve, reject or seek more information on IPOs. - - The company said it plans to focus on “premiumisation” — selling more expensive cars, as well as increasing its EV market share and adding charging stations, where it lags behind Tata Motors. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. - - Indian Prime Minister Narendra Modi sees the automotive industry as a cornerstone to boosting growth in the world’s fifth-largest economy. His government has built hundreds of kilometers of new roads and is incentivising car makers to increase local manufacturing, especially of electric vehicles. - - Hyundai entered India 28 years ago and has won over buyers with its affordable cars such as Santro and sports-utility vehicle Creta. The company has plans to launch new electric vehicles, establish charging stations and a battery pack assembly unit. - - The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. The sources have said the final percentage could be lower. - - With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. - - Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period. - - Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.",CNN,17/06/2024,"['Hyundai Motor’s India unit sought regulatory approval on Saturday for a stock market listing in Mumbai, which could be thenation’s biggestand will see the South Korean parent sell a stake of up to 17.5% in the company.', 'The initial public offering (IPO) will make it the country’s first car maker to go public in two decades since Maruti Suzuki in 2003, and would come just as Indian stock markets are trading near record highs.', 'Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade.', 'The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally.', 'The Hyundai draft prospectus filed gave no details of the pricing of the IPO or the company’s valuation, but sources have said Hyundai aims to raise around $2.5 to $3 billion at a valuation of up to $30 billion.', 'Hyundai, India’s second-biggest car maker behind Maruti Suzuki, will not issue new shares in the IPO, which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called “offer for sale” route.', 'The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors andother rivalsas it could make future fundraising easier, without the need to depend on its Korean parent.', 'Hyundai expects the listing of the equity shares in India “will enhance our visibility and brand image,” and “provide liquidity and a public market” for the shares, the company said in the draft prospectus filed on Saturday.', 'It did not provide a timeline for the listing, but typically India’s markets regulator, the Securities and Exchange Board of India, takes three to six months to approve, reject or seek more information on IPOs.', 'The company said it plans to focus on “premiumisation” — selling more expensive cars, as well as increasing its EV market share and adding charging stations, where it lags behind Tata Motors.', 'Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub.', 'Indian Prime Minister Narendra Modi sees the automotive industry as a cornerstone to boosting growth in the world’s fifth-largest economy.', 'His government has built hundreds of kilometers of new roads and is incentivising car makers to increase local manufacturing, especially of electric vehicles.', 'Hyundai entered India 28 years ago and has won over buyers with its affordable cars such as Santro and sports-utility vehicle Creta.', 'The company has plans to launch new electric vehicles, establish charging stations and a battery pack assembly unit.', 'The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO.', 'The sources have said the final percentage could be lower.', 'With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers.', 'Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period.', 'Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.']",0.2621860827397431,"The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors andother rivalsas it could make future fundraising easier, without the need to depend on its Korean parent.",The sources have said the final percentage could be lower.,0.8568693832917647,"Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period.",The sources have said the final percentage could be lower.,2024-06-17 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-06-17 -Adobe accused by US government of 'trapping subscribers',https://www.bbc.co.uk/news/articles/c98825z8330o,2024-06-17T18:39:18.841Z,"The US government has sued software giant Adobe, accusing it of violating consumer protection laws with ""hidden"" termination fees and a convoluted cancellation process. The Federal Trade Commission (FTC) said the firm had failed to clearly disclose its terms to customers, including the year-long length of a subscription and charges that would be triggered for cancelling early. In its complaint, the agency said Adobe had refused to modify its behaviour because it would hurt the company financially. Adobe disputed the claims and said it would fight the lawsuit. ""We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process,"" said Dana Rao, general counsel and chief trust officer. ""We will refute the FTC’s claims in court,"" he said. Adobe, founded in 1982, is known for software used to edit photos and PDFs, including Adobe Photoshop. It adopted a subscription-based sales model around 2012 for its offerings, asking customers to pay a monthly or annual fee. But the company's sign-up process is unclear, according to the complaint, in some cases failing to disclose that customers are making a commitment to pay for a year and not stating the cost of cancelling early, even though the fee can amount to hundreds of dollars. If customers try to cancel, the company also allegedly takes them through a ""convoluted process"", requesting re-entry of their password and navigation past multiple pop-up screens, the complaint suggests. ""Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles,"" Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a press announcement. ""Americans are tired of companies hiding the ball during subscription signup and then putting up roadblocks when they try to cancel,"" Mr Levine added. The practices cited in the complaint are similar to ones regulators identified in a lawsuit brought against Amazon last year and generated numerous complaints to outlets such as the Better Business Bureau. In some cases, customers believed they had successfully completed the process, only to keep being charged, the agency alleged in the complaint, which was filed in federal court in California. In addition to Adobe, the complaint also names Maninder Sawhney, senior vice president of digital go to market & sales since 2018 and and David Wadhwani, president of Adobe's digital media business. The government said it had started to look into the issue in 2022 but alleged that the ""defendants have repeatedly decided against rectifying some of Adobe’s unlawful practices because of the revenue implications."" It asked the court to bar Adobe from its practice and impose financial penalties for each violation of the law. ",BBC,17/06/2024,"['The US government has sued software giant Adobe, accusing it of violating consumer protection laws with ""hidden"" termination fees and a convoluted cancellation process.', 'The Federal Trade Commission (FTC) said the firm had failed to clearly disclose its terms to customers, including the year-long length of a subscription and charges that would be triggered for cancelling early.', 'In its complaint, the agency said Adobe had refused to modify its behaviour because it would hurt the company financially.', 'Adobe disputed the claims and said it would fight the lawsuit. ""', 'We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process,"" said Dana Rao, general counsel and chief trust officer. ""', 'We will refute the FTC’s claims in court,"" he said.', 'Adobe, founded in 1982, is known for software used to edit photos and PDFs, including Adobe Photoshop.', 'It adopted a subscription-based sales model around 2012 for its offerings, asking customers to pay a monthly or annual fee.', ""But the company's sign-up process is unclear, according to the complaint, in some cases failing to disclose that customers are making a commitment to pay for a year and not stating the cost of cancelling early, even though the fee can amount to hundreds of dollars."", 'If customers try to cancel, the company also allegedly takes them through a ""convoluted process"", requesting re-entry of their password and navigation past multiple pop-up screens, the complaint suggests. ""', 'Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles,"" Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a press announcement. ""', 'Americans are tired of companies hiding the ball during subscription signup and then putting up roadblocks when they try to cancel,"" Mr Levine added.', 'The practices cited in the complaint are similar to ones regulators identified in a lawsuit brought against Amazon last year and generated numerous complaints to outlets such as the Better Business Bureau.', 'In some cases, customers believed they had successfully completed the process, only to keep being charged, the agency alleged in the complaint, which was filed in federal court in California.', ""In addition to Adobe, the complaint also names Maninder Sawhney, senior vice president of digital go to market & sales since 2018 and and David Wadhwani, president of Adobe's digital media business."", 'The government said it had started to look into the issue in 2022 but alleged that the ""defendants have repeatedly decided against rectifying some of Adobe’s unlawful practices because of the revenue implications.""', 'It asked the court to bar Adobe from its practice and impose financial penalties for each violation of the law.']",-0.3472915006268454,"We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process,"" said Dana Rao, general counsel and chief trust officer. ""","But the company's sign-up process is unclear, according to the complaint, in some cases failing to disclose that customers are making a commitment to pay for a year and not stating the cost of cancelling early, even though the fee can amount to hundreds of dollars.",-0.8200688660144806,,"Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles,"" Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a press announcement. """,2024-06-17 -Wells Fargo fires workers over fake keyboard activity,https://www.bbc.co.uk/news/articles/cjll01220yeo,2024-06-13T19:46:45.871Z,"US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not. It is not yet clear how the issue was discovered or whether it was specifically related to people working from home. The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"". New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years. A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour."" In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time. Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic. Such services can track keystrokes and eye movements, take screenshots and log which websites are visited. But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available. According to Amazon, where they can be found for less than $10, thousands have been sold in the last month. Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected. The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims. Many of them had worked for Wells Fargo for less than five years. Many firms, especially in the financial industry, are pushing staff to return to the office. Remote work has remained popular since the pandemic but numbers have been drifting lower. In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago. As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers. ",BBC,13/06/2024,"['US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.', 'It is not yet clear how the issue was discovered or whether it was specifically related to people working from home.', 'The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"".', 'New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years.', 'A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""', 'In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time.', 'Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic.', 'Such services can track keystrokes and eye movements, take screenshots and log which websites are visited.', 'But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available.', 'According to Amazon, where they can be found for less than $10, thousands have been sold in the last month.', 'Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected.', 'The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims.', 'Many of them had worked for Wells Fargo for less than five years.', 'Many firms, especially in the financial industry, are pushing staff to return to the office.', 'Remote work has remained popular since the pandemic but numbers have been drifting lower.', 'In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago.', 'As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers.']",0.1071104623898091,"A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""",US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.,-0.9963567852973938,,Remote work has remained popular since the pandemic but numbers have been drifting lower.,2024-06-17 -Betting the House: The world of political wagers,https://www.bbc.co.uk/news/articles/c6pp5emm95do,2024-06-15T00:29:04.133Z,"An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting. Gambling on sporting events is now very big business in the UK. Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's. But betting has long been part of the political world too. From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative. One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""I got the Lib Dems to win at 20-to-1, and I got it right,"" he said. Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there's nothing like predicting winner and losers. ""People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying 'I think it's going this way, or that'"". Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson. But some remarkable amounts of money have been wagered over the years. In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election. They lost their money. Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"". Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election. But these figures do not include bets with the larger betting firms. This makes it a miniscule slice of the £15.1bn UK gambling market. But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""It has been helped by the fact we’ve had particularly volatile events - the 'yes' and 'no' Brexit referendum was perfect for betting. ""People like to bet on very tight events."" Over the years, the types of political bets have diversified. Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi. Betting on politics has a surprisingly long history in the UK. Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer. During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting. But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in. But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful. Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence. The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it. Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet. Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation. It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK. Westminster's gamblers will be watching the results of this one with particular interest. Advice on gambling addiction is available via the BBC Action Line. ",BBC,15/06/2024,"['An investigation into Rishi Sunak\'s parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.', 'Gambling on sporting events is now very big business in the UK.', ""Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's."", 'But betting has long been part of the political world too.', 'From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative.', 'One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""', 'I got the Lib Dems to win at 20-to-1, and I got it right,"" he said.', 'Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there\'s nothing like predicting winner and losers. ""', 'People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying \'I think it\'s going this way, or that\'"".', 'Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""', 'Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson.', 'But some remarkable amounts of money have been wagered over the years.', ""In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election."", 'They lost their money.', 'Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"".', 'Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election.', 'But these figures do not include bets with the larger betting firms.', 'This makes it a miniscule slice of the £15.1bn UK gambling market.', 'But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""', 'It has been helped by the fact we’ve had particularly volatile events - the \'yes\' and \'no\' Brexit referendum was perfect for betting. ""', 'People like to bet on very tight events.""', 'Over the years, the types of political bets have diversified.', 'Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""', 'Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi.', 'Betting on politics has a surprisingly long history in the UK.', 'Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer.', 'During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting.', ""But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in."", 'But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful.', 'Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence.', 'The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it.', 'Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet.', 'Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.', 'It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK.', ""Westminster's gamblers will be watching the results of this one with particular interest."", 'Advice on gambling addiction is available via the BBC Action Line.']",0.2101162009157575,But some remarkable amounts of money have been wagered over the years.,"Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.",0.3334703395764033,"But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""","An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.",2024-06-17 -JLR invests £1m to help police stop car thefts,https://www.bbc.co.uk/news/articles/cpee844x4yvo,2024-06-13T23:04:16.471Z,"Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK. The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering. Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft. However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover. Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry. Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000. He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement. Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “We’re just really disappointed. We loved the car but because of the insurance the experience of owning it went downhill so quick.” Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account. Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit. That, in turn, can push up premiums. For Jaguar Land Rover, this has become a problem. The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty. That kind of prestige comes at a cost. The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000. But embarrassingly for the company, it also has a reputation for being vulnerable to theft. Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”. He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security. He accused the insurance industry of failing to take account of all the available information when setting premiums. The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs. Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes. The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”. It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad. The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers. At the same time, it says it has been working hard to make its vehicles less vulnerable to theft. It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen. ",BBC,13/06/2024,"['Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK.', 'The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.', 'Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.', 'However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.', 'Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry.', 'Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000.', 'He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement.', 'Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “', 'We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “', 'We’re just really disappointed.', 'We loved the car but because of the insurance the experience of owning it went downhill so quick.”', 'Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account.', 'Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit.', 'That, in turn, can push up premiums.', 'For Jaguar Land Rover, this has become a problem.', 'The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty.', 'That kind of prestige comes at a cost.', 'The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000.', 'But embarrassingly for the company, it also has a reputation for being vulnerable to theft.', 'Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”.', 'He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security.', 'He accused the insurance industry of failing to take account of all the available information when setting premiums.', 'The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.', 'Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes.', 'The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”.', 'It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad.', 'The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers.', 'At the same time, it says it has been working hard to make its vehicles less vulnerable to theft.', 'It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen.']",-0.023968439722839,"The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.","Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.",-0.1384519829469568,The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.,"However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.",2024-06-17 -Telehealth executives accused of $100m Adderall scheme,https://www.bbc.co.uk/news/articles/cd11qr67qj6o,2024-06-14T01:32:50.581Z,"US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances. US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company's clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"". America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic. Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee. Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials. They are charged with distribution of controlled substances. They could each face up to 20 years in prison if found guilty. Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task. The charges come amid a national shortage of the drug. Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement. Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"". The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify. They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes. Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"". They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails. ",BBC,14/06/2024,"['US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances.', 'US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company\'s clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"".', ""America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic."", 'Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee.', 'Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials.', 'They are charged with distribution of controlled substances.', 'They could each face up to 20 years in prison if found guilty.', 'Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task.', 'The charges come amid a national shortage of the drug.', 'Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""', 'These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement.', 'Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".', 'The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify.', 'They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes.', 'Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"".', 'They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.']",-0.1964394593112733,"They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",They could each face up to 20 years in prison if found guilty.,0.1511241197586059,"Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".","They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",2024-06-17 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-06-17 -China probes European pork prices after EU hikes tariffs on its electric cars,https://edition.cnn.com/2024/06/17/business/china-europe-pork-imports/index.html," - Published - 7:53 AM EDT, Mon June 17, 2024 - ","Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China. - - The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs. - - China’s Ministry of Commerce said Monday that local agricultural producers had requested an anti-dumping investigation into pork and pig by-products from the EU and that a preliminary inspection had found sufficient grounds for a formal probe into whether their prices are artificially low. - - It added that the investigation should conclude within a year but could be extended by six months if required. - - A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports. The EU is the second-biggest pork producer after China. - - According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year. Almost half of that came from Spain, with the Netherlands, Denmark and France also exporting substantial amounts. - - Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers. China could also target European wine and luxury goods, according to analysts at Rhodium Group, a think tank. - - Olof Gill, a spokesperson for the European Commission, the EU’s executive arm, told reporters Monday at that the EU would follow the investigation into pork products “very closely” and “intervene as appropriate” to ensure the probe complies with rules set by the World Trade Organization. - - Responding to a question about the EU’s considerable agricultural subsidies, Gill added that the bloc was “not the least bit worried” that the WTO could find in China’s favor. “Any subsidies… are strictly in line with our WTO obligations,” he said. - - Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November. The provisional tariffs are due to take effect on July 4. - - The European Commission announced last week that additional tariffs of between 17.4% and 38.1% would be applied to EVs manufactured in China on top of the existing EU duty of 10%. That takes the highest overall rate to close to 50%. - - Beijing immediately denounced the measure, which could hurt its ambitions to grow EV exports and is likely to hasten efforts by Chinese carmakers to set up factories in Europe. - - Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports. - - Xiaofei Xu and Maisie Linford contributed reporting.",CNN,17/06/2024,"['Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China.', 'The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs.', 'China’s Ministry of Commerce said Monday that local agricultural producers had requested an anti-dumping investigation into pork and pig by-products from the EU and that a preliminary inspection had found sufficient grounds for a formal probe into whether their prices are artificially low.', 'It added that the investigation should conclude within a year but could be extended by six months if required.', 'A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports.', 'The EU is the second-biggest pork producer after China.', 'According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year.', 'Almost half of that came from Spain, with the Netherlands, Denmark and France also exporting substantial amounts.', 'Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers.', 'China could also target European wine and luxury goods, according to analysts at Rhodium Group, a think tank.', 'Olof Gill, a spokesperson for the European Commission, the EU’s executive arm, told reporters Monday at that the EU would follow the investigation into pork products “very closely” and “intervene as appropriate” to ensure the probe complies with rules set by the World Trade Organization.', 'Responding to a question about the EU’s considerable agricultural subsidies, Gill added that the bloc was “not the least bit worried” that the WTO could find in China’s favor. “', 'Any subsidies… are strictly in line with our WTO obligations,” he said.', 'Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November.', 'The provisional tariffs are due to take effect on July 4.', 'The European Commission announced last week that additionaltariffs of between 17.4% and 38.1% would be applied to EVs manufactured in China on top of the existing EU duty of 10%.', 'That takes the highest overall rate to close to 50%.', 'Beijing immediately denounced the measure, which could hurt its ambitions to grow EV exports and is likely to hasten efforts by Chinese carmakers to set up factories in Europe.', 'Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.', 'Xiaofei Xu and Maisie Linford contributed reporting.']",-0.0764461405553013,Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.,The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs.,-0.506738692522049,That takes the highest overall rate to close to 50%.,Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.,2024-06-17 -Boeing CEO admits company has been ‘far from perfect’ after a flood of safety lapses,https://edition.cnn.com/2024/06/17/business/boeing-ceo-calhoun-testimony/index.html," - Updated - 7:05 PM EDT, Mon June 17, 2024 - ","Boeing CEO Dave Calhoun plans to apologize for Boeing’s recent safety failures in Senate testimony Tuesday and admit to problems with the company culture, but he’ll push back on whistleblower claims that the company retaliated against those who brought safety issues to light. - - “Much has been said about Boeing’s culture. We’ve heard those concerns loud and clear,” he will say in prepared remarks released by Boeing Monday afternoon. “Our culture is far from perfect, but we are taking action and making progress. We understand the gravity, and we are committed to moving forward.” - - The “far from perfect” remark is a massive understatement. Boeing has been under intense scrutiny with numerous federal investigations and congressional hearings since a January 5 Alaska Air Boeing 737 Max flight had a door plug blow off, leaving a gaping hole in both the plane and Boeing’s reputation. - - Boeing has been ordered by the Federal Aviation Administration to improve its safety issues before it can resume normal production, causing problems for airlines that can’t get the planes they ordered. And that, in turn, has meant higher fares for passengers, who have had their faith the company’s planes sorely tested. - - The hearing Tuesday by the Senate’s permanent subcommittee on investigations is entitled “Boeing’s broken safety culture.” It is just the latest congressional hearing this year about safety issues at Boeing but the first time Calhoun is testifying in his more than four years running the troubled company. He will be joined by Howard McKenzie, Boeing’s chief engineer. - - At an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so. - - “I have serious concerns about the safety of the 787 and 777 aircraft, and I’m willing to take on professional risk to talk about them,” Salehpour said in his opening statement. He said when he raised concerns, “I was ignored. I was told not to create delays. I was told, frankly, to shut up.” - - Calhoun denies that is the case currently at Boeing in his prepared remarks. - - “We are committed to making sure every employee feels empowered to speak up if there is a problem,” he’ll say, according to the prepared remarks. “We also have strict policies in place to prohibit retaliation against employees who come forward. It is our job to listen, regardless of how we obtain feedback, and handle it with the seriousness it deserves.” - - Despite the attention the hearing is expected to garner, it’s unlikely to produce significant change at the company, said Richard Aboulafia, managing partner for AeroDynamic Consultancy, an aerospace advisory firm. - - “Nothing has produced change (at Boeing) except frustration from a bunch of airline customers,” said Aboulafia. “I’m not sure what will change as a consequence of this. He (Calhoun) needs to go. He has shown a strong desire to double down on what’s bad.” - - A preliminary investigation of the Alaska Air incident has found that the plane left a Boeing factory two months before the incident without the four bolts needed to hold the door plug in place. - - And Boeing has yet to produce the paperwork to identify who in the factory installed the door plug without the bolts. It has been harshly criticized by members of Congress and safety regulators and will likely face more criticism Tuesday. - - Calhoun has already met with members of Congress since the Alaska Air incident, albeit behind closed doors. He has also made numerous public statements to Boeing employees and to investors since the Alaska Air incident. - - “We caused the problem, and we understand that,” he told investors in January during a call after reporting its fifth straight annual loss. “Whatever conclusions (from the investigations) are reached, Boeing is accountable for what happened. Whatever the specific cause of the accident might turn out to be, an event like this simply must not happen on an airplane that leaves one of our factories. We simply must be better.” - - Calhoun’s prepared remarks begin with an apology to the family members of the victims of two fatal 737 Max crashes. Some of those family members plan to attend the hearing. Between them, 346 people were killed in the 2018 and 2019 crashes in Indonesia and Ethiopia, leading to to a 20-month grounding of the jet to fix a design flaw that caused the crashes. - - “We are deeply sorry for your losses,” he’ll say in his opening comments. “Nothing is more important than the safety of the people who step on board our airplanes. Every day we seek to honor the memory of those lost.” - - He also plans to again apologize to the passengers and crew of the Alaska Air flight in January. - - “We deeply regret the impact that the Alaska Airlines Flight 1282 accident had on Alaska Airlines’ team and its passengers, and we are grateful to the pilots and crew for safely landing the plane,” he’ll say. “We are thankful that there were no fatalities.” - - But experts say that it was sheer luck that no one was killed in the Alaska Air incident. - - This could very well be Calhoun’s only time testifying on Capitol Hill. He has announced plans to retire before the end of this year. His successor has yet to be selected. - - Beyond Tuesday’s hearing, and the numerous federal investigations it faces, the company could still face criminal liability from the original certification process of the 737 Max. In January of 2021 Boeing agreed to a probationary period, which deferred any prosecution on those charges and which would have exempted it from criminal liability in the crashes. - - But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period. In May the Justice Department notified Boeing that it was now subject to criminal prosecution. Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court. The family members planning to attend Tuesday’s hearing say they want to see Boeing prosecuted criminally.",CNN,17/06/2024,"['Boeing CEO Dave Calhoun plans to apologize for Boeing’s recent safety failures in Senate testimony Tuesday and admit to problems with the company culture, but he’ll push back on whistleblower claims that the company retaliated against those who brought safety issues to light.', '“Much has been said about Boeing’s culture.', 'We’ve heard those concerns loud and clear,” he will say in prepared remarks released by Boeing Monday afternoon. “', 'Our culture is far from perfect, but we are taking action and making progress.', 'We understand the gravity, and we are committed to moving forward.”', 'The “far from perfect” remark is a massive understatement.', 'Boeing has been under intense scrutiny with numerous federal investigations and congressional hearings since a January 5 Alaska Air Boeing 737 Max flight had a door plug blow off, leaving a gaping hole in both the plane and Boeing’s reputation.', 'Boeing has been ordered by the Federal Aviation Administration to improve its safety issues before it can resume normal production, causing problems for airlines that can’t get the planes they ordered.', 'And that, in turn, has meant higher fares for passengers, who have had their faith the company’s planes sorely tested.', 'The hearing Tuesday by the Senate’s permanent subcommittee on investigations is entitled “Boeing’s broken safety culture.”', 'It is just the latest congressional hearing this year about safety issues at Boeing but the first time Calhoun is testifying in his more than four years running the troubled company.', 'He will be joined by Howard McKenzie, Boeing’s chief engineer.', 'At an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so.', '“I have serious concerns about the safety of the 787 and 777 aircraft, and I’m willing to take on professional risk to talk about them,” Salehpour said in his opening statement.', 'He said when he raised concerns, “I was ignored.', 'I was told not to create delays.', 'I was told, frankly, to shut up.”', 'Calhoun denies that is the case currently at Boeing in his prepared remarks.', '“We are committed to making sure every employee feels empowered to speak up if there is a problem,” he’ll say, according to the prepared remarks. “', 'We also have strict policies in place to prohibit retaliation against employees who come forward.', 'It is our job to listen, regardless of how we obtain feedback, and handle it with the seriousness it deserves.”', 'Despite the attention the hearing is expected to garner, it’s unlikely to produce significant change at the company, said Richard Aboulafia, managing partner for AeroDynamic Consultancy, an aerospace advisory firm.', '“Nothing has produced change (at Boeing) except frustration from a bunch of airline customers,” said Aboulafia. “', 'I’m not sure what will change as a consequence of this.', 'He (Calhoun) needs to go.', 'He has shown a strong desire to double down on what’s bad.”', 'A preliminary investigation of the Alaska Air incident has found that the plane left a Boeing factory two months before the incident without the four bolts needed to hold the door plug in place.', 'And Boeing has yet to produce the paperwork to identify who in the factory installed the door plug without the bolts.', 'It has been harshly criticized by members of Congress and safety regulators and will likely face more criticism Tuesday.', 'Calhoun has already met with members of Congress since the Alaska Air incident, albeit behind closed doors.', 'He has also made numerous public statements to Boeing employees and to investors since the Alaska Air incident.', '“We caused the problem, and we understand that,” he told investors in January during a call after reporting its fifth straight annual loss. “', 'Whatever conclusions (from the investigations) are reached, Boeing is accountable for what happened.', 'Whatever the specific cause of the accident might turn out to be, an event like this simply must not happen on an airplane that leaves one of our factories.', 'We simply must be better.”', 'Calhoun’s prepared remarks begin with an apology to the family members of the victims of two fatal 737 Max crashes.', 'Some of those family members plan to attend the hearing.', 'Between them, 346 people were killed in the 2018 and 2019 crashes in Indonesia and Ethiopia, leading to to a 20-month grounding of the jet to fix a design flaw that caused the crashes.', '“We are deeply sorry for your losses,” he’ll say in his opening comments. “', 'Nothing is more important than the safety of the people who step on board our airplanes.', 'Every day we seek to honor the memory of those lost.”', 'He also plans to again apologize to the passengers and crew of the Alaska Air flight in January.', '“We deeply regret the impact that the Alaska Airlines Flight 1282 accident had on Alaska Airlines’ team and its passengers, and we are grateful to the pilots and crew for safely landing the plane,” he’ll say. “', 'We are thankful that there were no fatalities.”', 'But experts say that it was sheer luck that no one was killed in the Alaska Air incident.', 'This could very well be Calhoun’s only time testifying on Capitol Hill.', 'He has announced plans to retire before the end of this year.', 'His successor has yet to be selected.', 'Beyond Tuesday’s hearing, and the numerous federal investigations it faces, the company could still face criminal liability from the original certification process of the 737 Max.', 'In January of 2021 Boeing agreed to a probationary period, which deferred any prosecution on those charges and which would have exempted it from criminal liability in the crashes.', 'But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period.', 'In May the Justice Department notified Boeing that it was now subject to criminal prosecution.', 'Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.', 'The family members planning to attend Tuesday’s hearing say they want to see Boeing prosecuted criminally.']",-0.0559171896190357,"Our culture is far from perfect, but we are taking action and making progress.",Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.,-0.1838295261065165,He has shown a strong desire to double down on what’s bad.”,"“We caused the problem, and we understand that,” he told investors in January during a call after reporting its fifth straight annual loss. “",2024-06-17 -Hot dog eating champs Joey Chestnut and Takeru Kobayashi to face off on Netflix,https://edition.cnn.com/2024/06/12/media/netflix-joey-chestnut-takeru-kobayashi-hot-dog-contest/index.html," - Published - 7:43 PM EDT, Wed June 12, 2024 - ","World record holder Joey Chestnut may not be competing at Nathan’s Famous Fourth of July Hot Dog Eating Contest this year, but now fans will be able to watch Chestnut face off with his rival Takeru Kobayashi on Netflix on Labor Day. - - The two professional competitive eaters will face off in a Netflix special titled “CHESTNUT VS. KOBAYASHI: UNFINISHED BEEF,” which the streaming company advertised as a determination of the ultimate hot dog eating champion. - - Netflix’s announcement comes just a day after Chestnut was banned from competing in Nathan’s hot dog eating contest because he signed a deal with rival plant-based food company Impossible Foods. - - Chestnut is a hot dog champ. He’s won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods. - - Kobayashi is Chestnut’s “fiercest rival,” he said in a Netflix press release. - - Kobayashi — who popularized competitive eating as a sport in 2001 when he almost doubled the previous record for most hot dogs eaten in the Nathan’s Hot Dog Eating Championship — said he would put off retiring until he takes down Chestnut “one last time” in the release. - - Netflix said the last time the two faced off was in 2009, when Chestnut edged past Kobayashi. - - Similar to Chestnut, Kobayashi was banned from competing in the Nathan’s Competition due to a contract dispute in 2010. - - “We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the Nathan’s event, said in a statement Tuesday. - - CNN’s Erika Tulfo contributed to this report.",CNN,12/06/2024,"['World record holder Joey Chestnut may not be competing at Nathan’s Famous Fourth of July Hot Dog Eating Contest this year, but now fans will be able to watch Chestnut face off with his rivalTakeru Kobayashi on Netflix on Labor Day.', 'The two professional competitive eaters will face off in a Netflix special titled “CHESTNUT VS.', 'KOBAYASHI: UNFINISHED BEEF,” which the streaming company advertised as a determination of the ultimate hot dog eating champion.', 'Netflix’s announcement comes just a day after Chestnut was banned from competing in Nathan’s hot dog eating contest because he signeda deal with rival plant-based food company Impossible Foods.', 'Chestnut is a hot dog champ.', 'He’s won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.', 'Kobayashi is Chestnut’s “fiercest rival,” he said in a Netflix press release.', 'Kobayashi — who popularized competitive eating as a sport in 2001 when he almost doubled the previous record for most hot dogs eaten in the Nathan’s Hot Dog Eating Championship — said he would put off retiring until he takes down Chestnut “one last time” in the release.', 'Netflix said the last time the two faced off was in 2009, when Chestnut edged past Kobayashi.', 'Similar to Chestnut, Kobayashi was banned from competing in the Nathan’s Competition due to a contract dispute in 2010.', '“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the Nathan’s event, said in a statement Tuesday.', 'CNN’s Erika Tulfo contributed to this report.']",0.1186711494622067,"KOBAYASHI: UNFINISHED BEEF,” which the streaming company advertised as a determination of the ultimate hot dog eating champion.","Similar to Chestnut, Kobayashi was banned from competing in the Nathan’s Competition due to a contract dispute in 2010.",0.1188561767339706,"He’s won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.","“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the Nathan’s event, said in a statement Tuesday.",2024-06-17 -Too much of a good thing? Spain's green energy can exceed demand,https://www.bbc.co.uk/news/articles/czkkgnp1d2xo,2024-06-16T23:06:49.211Z,"The patchwork plains of Castilla-La Mancha, in central Spain, were once known for their windmills. But now it is wind turbines, their modern-day equivalent, which are much more visible on the region’s skyline. The 28 vast turbines of the Sierra del Romeral windfarm, perched on hills not far from the historic city of Toledo, look out over this landscape. Operated by Spanish firm Iberdrola, they are part of a trend that has accelerated Spain’s renewable energy output over the past half-decade, making the country a major presence in the industry. Spain’s total wind generation capacity, its prime renewable source in recent years, has doubled since 2008. Solar energy capacity, meanwhile, has increased by a factor of eight over the same period. This makes Spain the EU member state with the second-largest renewable energy infrastructure, after Sweden in first place. Earlier this year, Spain's Socialist Workers' Party prime minister, Pedro Sánchez, described his country as ""a driving force of the energy transition on a global scale"". The boom began soon after the arrival of a new government under Mr Sánchez in 2018, with the removal of regulatory obstacles, and the introduction of subsidies for renewable installation. The pandemic further accelerated the trend on a domestic level. ""The impact of Covid was very positive for our sector,"" says José Donoso, chief executive of UNEF, the Spanish Photovoltaic Association, which represents the solar panel sector. ""People saved money, took time to think about what to do with it, and many of them decided that it was better invested on their roof than in their bank."" Meanwhile, the government introduced ambitious new targets, including covering 81% of Spain’s electricity needs with renewables by 2030. However, behind this success story, there are concerns within the electricity industry caused by an imbalance between supply and demand with, at times, a surplus of electricity. Even though the Spanish economy has bounced back strongly from the trauma of the Covid pandemic, and is growing faster than all of the bloc’s other big economies, electricity consumption has been dropping in recent years. Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. ""What we saw until 2005 was that when GDP increased, demand for electricity increased more than GDP,"" says Miguel de la Torre Rodríguez, head of system development at Red Eléctrica (REE), the company that operates Spain's national grid. More recently, he says, ""we've seen that demand has increased less than GDP. What we're seeing is a decoupling of energy intensity from the economy"". There are several reasons for the recent drop in demand. They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage. Also, energy efficiency has improved and become more commonplace. The increased usage of renewable energy has also contributed to the reduction in demand for electricity from the national grid. Mr Rodríguez says that during daylight hours, when solar energy output is particularly strong, the supply-demand balance can be pushed out of kilter, having an impact on prices. ""Since the power system always has to have an equilibrium – demand has to equal generation – that has meant there has been excess generation during those hours,"" he says. ""That has driven prices down, especially during certain hours, when the prices have been zero or even negative."" While such low prices are welcome for consumers, they are potentially a problem when it comes to attracting investment to the industry. ""This can make it more difficult for investors to increase their investment in new electricity based on renewable energies,"" says Sara Pizzinato, a renewable energy expert at Greenpeace Spain. ""That can be a bottleneck for the energy transition."" Concerns about Spain having an excess of electricity have led to discussion of the need to accelerate the ""electrification"" of the economy, which involves moving it away from fossil fuels. The Sánchez government has set a target of making 34% of the economy reliant on electricity by 2030. ""This process is going slowly, and we need to accelerate it,"" says UNEF’s José Donoso. ""Electricity is the cheapest and most competitive way to produce clean energy. ""We need facilities that use electricity in place of fossil fuels."" Shifting to a total reliance on electricity is seen as unrealistic, as some important sectors like chemicals and metals will find the transition difficult. However, Mr Donoso and others see plenty of scope for swifter electrification. For example, Spain is trailing many of its European neighbours when it comes to the installation of heat pumps in homes, and the use of electric cars, which only make up around 6% of vehicles on the road. Ms Pizzinato agrees that electrification is crucial, but says there are other ways of tackling the supply-demand quandary, including phasing out the use of nuclear plants more quickly, and increasing energy storage capability. She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night."" Sign up for our Future Earth newsletter to get exclusive insight on the latest climate and environment news from the BBC's Climate Editor Justin Rowlatt, delivered to your inbox every week. Outside the UK? Sign up to our international newsletter here. ",BBC,16/06/2024,"['The patchwork plains of Castilla-La Mancha, in central Spain, were once known for their windmills.', 'But now it is wind turbines, their modern-day equivalent, which are much more visible on the region’s skyline.', 'The 28 vast turbines of the Sierra del Romeral windfarm, perched on hills not far from the historic city of Toledo, look out over this landscape.', 'Operated by Spanish firm Iberdrola, they are part of a trend that has accelerated Spain’s renewable energy output over the past half-decade, making the country a major presence in the industry.', 'Spain’s total wind generation capacity, its prime renewable source in recent years, has doubled since 2008.', 'Solar energy capacity, meanwhile, has increased by a factor of eight over the same period.', 'This makes Spain the EU member state with the second-largest renewable energy infrastructure, after Sweden in first place.', 'Earlier this year, Spain\'s Socialist Workers\' Party prime minister, Pedro Sánchez, described his country as ""a driving force of the energy transition on a global scale"".', 'The boom began soon after the arrival of a new government under Mr Sánchez in 2018, with the removal of regulatory obstacles, and the introduction of subsidies for renewable installation.', 'The pandemic further accelerated the trend on a domestic level. ""', 'The impact of Covid was very positive for our sector,"" says José Donoso, chief executive of UNEF, the Spanish Photovoltaic Association, which represents the solar panel sector. ""', 'People saved money, took time to think about what to do with it, and many of them decided that it was better invested on their roof than in their bank.""', 'Meanwhile, the government introduced ambitious new targets, including covering 81% of Spain’s electricity needs with renewables by 2030.', 'However, behind this success story, there are concerns within the electricity industry caused by an imbalance between supply and demand with, at times, a surplus of electricity.', 'Even though the Spanish economy has bounced back strongly from the trauma of the Covid pandemic, and is growing faster than all of the bloc’s other big economies, electricity consumption has been dropping in recent years.', 'Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. ""', 'What we saw until 2005 was that when GDP increased, demand for electricity increased more than GDP,"" says Miguel de la Torre Rodríguez, head of system development at Red Eléctrica (REE), the company that operates Spain\'s national grid.', 'More recently, he says, ""we\'ve seen that demand has increased less than GDP.', 'What we\'re seeing is a decoupling of energy intensity from the economy"".', 'There are several reasons for the recent drop in demand.', ""They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage."", 'Also, energy efficiency has improved and become more commonplace.', 'The increased usage of renewable energy has also contributed to the reduction in demand for electricity from the national grid.', 'Mr Rodríguez says that during daylight hours, when solar energy output is particularly strong, the supply-demand balance can be pushed out of kilter, having an impact on prices. ""', 'Since the power system always has to have an equilibrium – demand has to equal generation – that has meant there has been excess generation during those hours,"" he says. ""', 'That has driven prices down, especially during certain hours, when the prices have been zero or even negative.""', 'While such low prices are welcome for consumers, they are potentially a problem when it comes to attracting investment to the industry. ""', 'This can make it more difficult for investors to increase their investment in new electricity based on renewable energies,"" says Sara Pizzinato, a renewable energy expert at Greenpeace Spain. ""', 'That can be a bottleneck for the energy transition.""', 'Concerns about Spain having an excess of electricity have led to discussion of the need to accelerate the ""electrification"" of the economy, which involves moving it away from fossil fuels.', 'The Sánchez government has set a target of making 34% of the economy reliant on electricity by 2030. ""', 'This process is going slowly, and we need to accelerate it,"" says UNEF’s José Donoso. ""', 'Electricity is the cheapest and most competitive way to produce clean energy. ""', 'We need facilities that use electricity in place of fossil fuels.""', 'Shifting to a total reliance on electricity is seen as unrealistic, as some important sectors like chemicals and metals will find the transition difficult.', 'However, Mr Donoso and others see plenty of scope for swifter electrification.', 'For example, Spain is trailing many of its European neighbours when it comes to the installation of heat pumps in homes, and the use of electric cars, which only make up around 6% of vehicles on the road.', 'Ms Pizzinato agrees that electrification is crucial, but says there are other ways of tackling the supply-demand quandary, including phasing out the use of nuclear plants more quickly, and increasing energy storage capability.', 'She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night.""', ""Sign up for our Future Earth newsletter to get exclusive insight on the latest climate and environment news from the BBC's Climate Editor Justin Rowlatt, delivered to your inbox every week."", 'Outside the UK?', 'Sign up to our international newsletter here.']",0.1764828363592918,"She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night.""","They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage.",0.339735209941864,"Solar energy capacity, meanwhile, has increased by a factor of eight over the same period.","Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. """,2024-06-17 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-06-17 -Sony Pictures is buying Alamo Drafthouse theater chain,https://www.cnbc.com/2024/06/12/sony-pictures-buys-alamo-drafthouse.html,2024-06-13T03:13:23+0000,"In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas. It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.However the decree only affected some studios. While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater. It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The Egyptian Theatre and New York's Paris Theater.Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas.""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. It was rescued by a private equity firm. However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.",CNBC,13/06/2024,"['In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.', ""This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas."", 'It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.', 'However the decree only affected some studios.', 'While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.', ""Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater."", ""It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The EgyptianTheatre and New York's Paris Theater."", 'Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division.', ""The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas."", '""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.', 'The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.', 'The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.', 'It was rescued by a private equity firm.', 'However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.', '""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""', 'We were created by film lovers for film lovers.', 'We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience.', 'Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.', '""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.']",0.2755990695936975,Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.,The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.,0.9728320717811584,"""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.",,2024-06-16 -"Boeing and NASA delay Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft",https://www.cnbc.com/2024/06/14/boeing-and-nasa-delay-starliner-astronaut-return-to-june-22.html,2024-06-14T19:14:12+0000,"In this articleBoeing's Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS. The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET. That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.NASA said those tests include operating the capsule's hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program's managers and astronauts ""finalize departure planning and operations.""The agency also noted that Starliner would ""repeat some 'safe haven' testing,"" but did not explain why that was necessary. A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency. NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC's request for further clarification until a press conference that will be held Tuesday before the planned departure.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions. Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.Before the launch, a single leak in Calypso's helium propulsion system was identified. The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks. NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system. Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock.NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail. Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance. NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.Starliner was once seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years. However, various setbacks and delays have steadily slipped Starliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.Correction: A previous version of this article misstated the duration of the flight test.",CNBC,14/06/2024,"['In this articleBoeing\'s Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.', ""This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS."", 'The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.', 'Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.', ""But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET."", 'That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.', 'NASA said those tests include operating the capsule\'s hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program\'s managers and astronauts ""finalize departure planning and operations.', '""The agency also noted that Starliner would ""repeat some \'safe haven\' testing,"" but did not explain why that was necessary.', 'A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency.', 'NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC\'s request for further clarification until a press conference that will be held Tuesday before the planned departure.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions.', 'Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.', ""Before the launch, a single leak in Calypso's helium propulsion system was identified."", ""The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks."", 'NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.', 'While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system.', 'Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.', ""Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock."", ""NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail."", ""Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance."", 'NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.', 'Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.', ""Starliner wasonce seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years."", 'However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.', 'Correction: A previous version of this article misstated the duration of the flight test.']",0.0231651503464283,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.",0.2881059249242146,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.",2024-06-16 -"At Stellantis investor day, cost cuts and China come into focus",https://www.cnbc.com/2024/06/12/stellantis-investor-day-wall-street-expectations.html,2024-06-12T16:29:01+0000,"In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That's beginning to pay dividends for the company and investors.How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday.Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually. It's a target the company says it will achieve in 2024, a year ahead of schedule.More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.""We've been cutting headcounts, but we really don't need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""To engineer the systems for our 10-year road map, it's already done.""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we'll see."" He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.""There is no silver bullet here. You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""This is no surprise. You can check my comments for the last five years. I've been running the same stuff for five years.""Future cost-saving efforts could be part of the company's Thursday capital markets day.Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight.""We want to help you better understand how we see the industry evolving, how we're leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns.""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China.At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days.Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.Tavares has called Chinese automakers his ""No. 1 competitor"" and said the company is taking an ""asset-light"" strategy. That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor.""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed. We don't expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March. GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.— CNBC's Michael Bloom contributed to this report.",CNBC,12/06/2024,"['In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission.', ""That's beginning to pay dividends for the company and investors."", ""How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday."", ""Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually."", ""It's a target the company says it will achieve in 2024, a year ahead of schedule."", 'More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.', '""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', ""The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions."", 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.', 'Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.', ""Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it\'s optimizing design and function for its new vehicles.', 'Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.', '""We\'ve been cutting headcounts, but we really don\'t need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""', ""To engineer the systems for our 10-year road map, it's already done."", '""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we\'ll see.""', 'He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.', '""There is no silver bullet here.', 'You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""', 'This is no surprise.', 'You can check my comments for the last five years.', ""I've been running the same stuff for five years."", '""Future cost-saving efforts could be part of the company\'s Thursday capital markets day.', ""Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight."", '""We want to help you better understand how we see the industry evolving, how we\'re leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""', ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns."", '""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.', ""Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China."", ""At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.', 'Tavares has called Chinese automakers his ""No.', '1 competitor"" and said the company is taking an ""asset-light"" strategy.', ""That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor."", '""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.', 'We don\'t expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.', ""Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor."", ""Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March."", 'GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.', 'RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.', 'Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.—', ""CNBC's Michael Bloom contributed to this report.""]",0.1316323402178248,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.","Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.",0.520694066177715,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.",Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.,2024-06-16 -JLR invests £1m to help police stop car thefts,https://www.bbc.co.uk/news/articles/cpee844x4yvo,2024-06-13T23:04:16.471Z,"Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK. The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering. Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft. However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover. Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry. Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000. He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement. Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “We’re just really disappointed. We loved the car but because of the insurance the experience of owning it went downhill so quick.” Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account. Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit. That, in turn, can push up premiums. For Jaguar Land Rover, this has become a problem. The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty. That kind of prestige comes at a cost. The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000. But embarrassingly for the company, it also has a reputation for being vulnerable to theft. Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”. He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security. He accused the insurance industry of failing to take account of all the available information when setting premiums. The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs. Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes. The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”. It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad. The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers. At the same time, it says it has been working hard to make its vehicles less vulnerable to theft. It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen. ",BBC,13/06/2024,"['Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK.', 'The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.', 'Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.', 'However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.', 'Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry.', 'Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000.', 'He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement.', 'Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “', 'We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “', 'We’re just really disappointed.', 'We loved the car but because of the insurance the experience of owning it went downhill so quick.”', 'Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account.', 'Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit.', 'That, in turn, can push up premiums.', 'For Jaguar Land Rover, this has become a problem.', 'The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty.', 'That kind of prestige comes at a cost.', 'The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000.', 'But embarrassingly for the company, it also has a reputation for being vulnerable to theft.', 'Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”.', 'He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security.', 'He accused the insurance industry of failing to take account of all the available information when setting premiums.', 'The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.', 'Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes.', 'The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”.', 'It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad.', 'The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers.', 'At the same time, it says it has been working hard to make its vehicles less vulnerable to theft.', 'It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen.']",-0.023968439722839,"The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.","Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.",-0.1384519829469568,The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.,"However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.",2024-06-16 -"Influencer Jake Paul launching men's skin, personal care line at Walmart",https://www.cnbc.com/2024/06/12/jake-paul-launching-mens-skin-care-line-walmart.html,2024-06-12T18:59:46+0000,"Jake Paul is entering a new arena: skin care.The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.The personal care line will feature products priced at less than $10 and will be available at Walmart. Later this summer, an expanded product line will be available on Amazon.""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""We just believed we had a better vision, better product and could disrupt this entire space.""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant. Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.""It's a super underserved market,"" he said. ""I believe now that more men are caring about how they look and what they are putting into their body,"" he added.As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth. From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor.And it's expected to keep seeing gains. Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.Paul isn't alone in trying to tap into the market. Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.Young men are increasingly turning to social media and influencers for their sources of information. A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past.""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines. But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.""There's a big open market for creator-led products focused on boys,"" he added.He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand.""It's still gonna be a brawl, and we both plan on ripping each other's heads off,"" he added.",CNBC,12/06/2024,"['Jake Paul is entering a new arena: skin care.', 'The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.', 'The personal care line will feature products priced at less than $10 and will be available at Walmart.', 'Later this summer, an expanded product line will be available on Amazon.', '""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""', 'We just believed we had a better vision, better product and could disrupt this entire space.', '""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant.', 'Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.', '""It\'s a super underserved market,"" he said. ""', 'I believe now that more men are caring about how they look and what they are putting into their body,"" he added.', ""As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth."", ""From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor."", ""And it's expected to keep seeing gains."", ""Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects."", ""Paul isn't alone in trying to tap into the market."", 'Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.', 'Young men are increasingly turning to social media and influencers for their sources of information.', ""A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past."", '""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines.', 'But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.', '""There\'s a big open market for creator-led products focused on boys,"" he added.', ""He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand."", '""It\'s still gonna be a brawl, and we both plan on ripping each other\'s heads off,"" he added.']",0.4625497217074573,"As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth.",Paul isn't alone in trying to tap into the market.,0.5827901601791382,"Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.","""It's a super underserved market,"" he said. """,2024-06-16 -UAW president under investigation by federal monitor,https://www.cnbc.com/2024/06/10/uaw-president-shawn-fain-federal-monitor-investigation.html,2024-06-11T00:54:50+0000,"DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents.The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they'll find: a UAW leadership committed to serving the membership, and running a democratic union. We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.""The union is in the middle of a national organizing drive of nonunion automakers. The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.The court filing, which was first reported by The Detroit News, says Barofsky's concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union's Regional Directors.""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.""The filing states more than three months after the monitor's initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.""The monitor believes the ""union's delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges. It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.",CNBC,11/06/2024,"['DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.', 'The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president.', 'He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.', 'Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.', '""The Monitor has attempted for months to garner the Union\'s cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor\'s access to requested documents,"" the court filing reads.', ""More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents."", 'The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.', 'Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.', '""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they\'ll find: a UAW leadership committed to serving the membership, and running a democratic union.', ""We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job."", '""The union is in the middle of a national organizing drive of nonunion automakers.', ""The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis."", 'The court filing, which was first reported by The Detroit News, says Barofsky\'s concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union\'s Regional Directors.', '""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.', 'In response, the filing says Mock ""lodged allegations of her own against the Union\'s President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.', '""The filing states more than three months after the monitor\'s initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.', '""The monitor believes the ""union\'s delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.', 'The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges.', 'It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.']",0.0562732771542696,"We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.","In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.",-0.0189127666609627,"The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.","""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.",2024-06-16 -"Bezos' Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program",https://www.cnbc.com/2024/06/13/pentagon-picks-blue-origin-spacex-ula-in-5point6-billion-rocket-program.html,2024-06-14T11:37:37+0000,"In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time.Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts. Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.Space Force outlined a ""mutual fund"" strategy to buying launches from companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",CNBC,14/06/2024,"[""In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time."", ""Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program."", ""Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program."", 'Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.', 'Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts.', 'Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.', 'Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that']",0.2602735573621667,Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.,"Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",0.8293253978093466,"Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.",,2024-06-16 -Nathan's hot dog contest parts ways with champion Joey Chestnut over plant-based frank partnership,https://www.cnbc.com/2024/06/11/joey-chestnut-out-of-nathans-hot-dog-contest.html,2024-06-12T00:48:49+0000,"In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year.Major League Eating announced Tuesday that it's parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year's competition, hosted by Nathan's Famous.Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement. The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment.An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year. CNBC has not independently verified the account. The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with. This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event.""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world. So I hope he's there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan's to accommodate Chestnut's requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021. Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN. It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline.Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",CNBC,12/06/2024,"[""In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year."", 'Major League Eating announced Tuesday that it\'s parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year\'s competition, hosted by Nathan\'s Famous.', 'Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement.', ""The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment."", 'An account on X under Chestnut\'s name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan\'s hot dog eating contest this year.', 'CNBC has not independently verified the account.', 'The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.', ""This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event."", '""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.', 'For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.', '""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.', 'So I hope he\'s there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan\'s to accommodate Chestnut\'s requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.', ""Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021.Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN."", ""It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline."", 'Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.']",0.2157806098957802,"""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.","An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year.",-0.5937366843223572,"""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.","Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",2024-06-16 -From dying mall brand to Wall Street winner: How Abercrombie & Fitch pulled off retail's biggest comeback,https://www.cnbc.com/2024/06/13/inside-abercrombie-and-fitchs-comeback.html,2024-06-13T13:23:39+0000,"In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations. Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook. She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer. Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.",CNBC,13/06/2024,"['In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer.', ""Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations."", 'Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.', ""Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook."", ""She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer."", 'Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.', ""To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.""]",0.3602311650416981,"Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.","Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.",0.9919991195201874,Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations.,,2024-06-16 -"Affirm buy now, pay later loans will be embedded into Apple Pay later this year",https://www.cnbc.com/2024/06/11/apple-pay-affirm-buy-now-pay-later-loans.html,2024-06-11T21:30:25+0000,"In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in its own update.""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.The move is a boost to Affirm and the buy now, pay later sector in general. When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm. But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more. The companies didn't provide details on the terms of the new loans.""The bottom-line — in our view — is that Affirm's strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers. Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email. Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",CNBC,11/06/2024,"['In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.', 'Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing.', 'Apple confirmed the news in its own update.', '""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.', 'The move is a boost to Affirm and the buy now, pay later sector in general.', 'When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm.', 'But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.', ""For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more."", ""The companies didn't provide details on the terms of the new loans."", '""The bottom-line — in our view — is that Affirm\'s strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.', 'Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.', 'Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""', 'This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony\'s chief growth officer, said in an email.', 'Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.', ""Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue."", '""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.']",0.3099241024494723,"This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",0.4899860024452209,"Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",2024-06-16 -"Stellantis aims to correct 'arrogant' mistakes in U.S. market, CEO says",https://www.cnbc.com/2024/06/13/stellantis-has-achieved-9-billion-in-cost-reductions-from-merger.html,2024-06-13T20:28:51+0000,"In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company's investor day at its North American headquarters. ""When I'm saying that you are arrogant, I'm talking about myself. I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there.""During the investor day, Tavares and his top lieutenants broadly updated investors on the company's operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty. The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets. Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days. Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.While sales have been down, the company remains among the most profitable automakers globally. Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive. That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formed one of the world's largest automakers.Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing.Cost-cutting has been a critical mission of the veteran automotive executive. Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions.Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker's 2030 ""Dare Forward"" strategic plan.Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks. The automaker anticipates that Jeep will be a main driver for the company globally. Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Tavares said. ""We are going to reinforce the manufacturing footprint of Jeep.""",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker\'s U.S. operations that led to sales declines, bloated inventories and investor concerns.', 'Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.', '""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company\'s investor day at its North American headquarters. ""', ""When I'm saying that you are arrogant, I'm talking about myself."", ""I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there."", '""During the investor day, Tavares and his top lieutenants broadly updated investors on the company\'s operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty.', 'The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.', ""Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets."", ""Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue."", ""In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.', 'While sales have been down, the company remains among the most profitable automakers globally.', ""Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.', 'Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive.', ""That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formedone of the world's largest automakers."", ""Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing."", 'Cost-cutting has been a critical mission of the veteran automotive executive.', ""Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions."", 'Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.', 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', '""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker\'s 2030 ""Dare Forward"" strategic plan.', 'Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.', 'The automaker anticipates that Jeep will be a main driver for the company globally.', 'Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Tavares said. ""', 'We are going to reinforce the manufacturing footprint of Jeep.""']",0.0910056018442069,"Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.","In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.",0.2339884865851629,"Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year.","Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.",2024-06-16 -Wells Fargo fired a dozen people accused of faking keyboard strokes,https://edition.cnn.com/2024/06/14/business/wells-fargo-staff-wfh-nightcap/index.html," - Updated - 1:49 PM EDT, Fri June 14, 2024 - ","The pandemic may have released us from the tyranny of the five-day-a-week office schedule. But the grip of America’s busy-work culture is proving harder to shake. - - See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.” - - In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. - - Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic. With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off. - - Even though most workers said they were more productive from home, many executives  adopted “bossware” to monitor their staff’s laptops. (And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality. We hope you can forgive us.) - - At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. It’s not clear whether they were working from home or from a beach, or what they were doing instead of working. A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.” - - I have two immediate thoughts - - • Oh, come on, the highest standards? (More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults. - - “The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “And that’s a symptom of a much larger problem.” - - In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. - - Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees. - - Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry. - - Since then, Wells has been trying to reform its own internal culture while trying to repair its brand. It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees. - - Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated. - - But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion. - - “Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “So, team members are going to innovate around that.” - - —CNN’s Matt Egan contributed reporting.",CNN,14/06/2024,"['The pandemic may have released us from the tyranny of the five-day-a-week office schedule.', 'But the grip of America’s busy-work culture is proving harder to shake.', 'See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority.', 'CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”', 'In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20.', 'Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic.', 'With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off.', 'Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (', 'And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality.', 'We hope you can forgive us.)', 'At any rate, some bankers over at Wells Fargo seem to have gotten caught last month.', 'It’s not clear whether they were working from home or from a beach, or what they were doing instead of working.', 'A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.”', 'I have two immediate thoughts • Oh, come on, the highest standards? (', 'More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults.', '“The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “', 'And that’s a symptom of a much larger problem.”', 'In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history.', 'Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.', 'Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry.', 'Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.', 'It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees.', 'Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated.', 'But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion.', '“Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “', 'So, team members are going to innovate around that.”', '—CNN’s Matt Egan contributed reporting.']",0.030770333410372,CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”,"Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.",-0.5993990302085876,"Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (",But the grip of America’s busy-work culture is proving harder to shake.,2024-06-16 -Telehealth executives accused of $100m Adderall scheme,https://www.bbc.co.uk/news/articles/cd11qr67qj6o,2024-06-14T01:32:50.581Z,"US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances. US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company's clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"". America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic. Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee. Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials. They are charged with distribution of controlled substances. They could each face up to 20 years in prison if found guilty. Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task. The charges come amid a national shortage of the drug. Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement. Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"". The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify. They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes. Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"". They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails. ",BBC,14/06/2024,"['US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances.', 'US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company\'s clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"".', ""America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic."", 'Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee.', 'Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials.', 'They are charged with distribution of controlled substances.', 'They could each face up to 20 years in prison if found guilty.', 'Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task.', 'The charges come amid a national shortage of the drug.', 'Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""', 'These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement.', 'Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".', 'The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify.', 'They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes.', 'Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"".', 'They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.']",-0.1964394593112733,"They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",They could each face up to 20 years in prison if found guilty.,0.1511241197586059,"Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".","They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",2024-06-16 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-06-16 -Here's what's next for Paramount after Skydance deal is stopped in its tracks,https://www.cnbc.com/2024/06/12/paramount-skydance-deal-ends-what-happens-next.html,2024-06-13T11:46:33+0000,"In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry.Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward.Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins. The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.""It's very difficult for a trio of CEOs to work on a long term basis. It's almost unheard of. How will they make decisions on allocating capital and strategic priorities?"" said Jessica Reif-Ehrlich, an analyst at BofA Securities.On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward.""So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process.The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement."" National Amusements also voiced its support for Paramount's current leadership.While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.In recent days, other potential bidders for National Amusements emerged, according to reports. Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved.""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday's memo to employees. ""And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.""Though the company reached financial terms on the proposed deal with Skydance, Paramount's new leadership team outlined a plan at last week's shareholder meeting in the event a transaction didn't take place.The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.The memo noted more would be discussed at a company town hall June 25. The leaders are also expected to flesh out more details of the plan during August's earnings call.The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year. Paramount has $14.6 billion in debt.In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan.""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation.In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""But this is a very difficult situation. Uncertainty is the worst thing.""Whether it's these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year. A weak advertising market could also weigh on the company in the coming months.",CNBC,13/06/2024,"[""In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry."", 'Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.', ""Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward."", 'Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins.', 'The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.', '""It\'s very difficult for a trio of CEOs to work on a long term basis.', ""It's almost unheard of."", 'How will they make decisions on allocating capital and strategic priorities?""', 'said Jessica Reif-Ehrlich, an analyst at BofA Securities.', ""On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward."", '""So, what does this mean for Paramount?', 'While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.', ""After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process."", 'The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.', 'The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.', 'In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement.""', ""National Amusements also voiced its support for Paramount's current leadership."", 'While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.', 'In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', 'In recent days, other potential bidders for National Amusements emerged, according to reports.', 'Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.', 'While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.', ""Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved."", '""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday\'s memo to employees. ""', 'And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.', '""Though the company reached financial terms on the proposed deal with Skydance, Paramount\'s new leadership team outlined a plan at last week\'s shareholder meeting in the event a transaction didn\'t take place.', 'The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.', 'The memo noted more would be discussed at a company town hall June 25.', ""The leaders are also expected to flesh out more details of the plan during August's earnings call."", ""The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year."", 'Paramount has $14.6 billion in debt.', ""In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan."", '""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.', ""Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation."", ""In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations."", 'But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.', '""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""', 'But this is a very difficult situation.', 'Uncertainty is the worst thing.', '""Whether it\'s these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.', ""Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year."", 'A weak advertising market could also weigh on the company in the coming months.']",0.1552936129402598,"""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. """,Uncertainty is the worst thing.,0.0349052796761194,"In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.",A weak advertising market could also weigh on the company in the coming months.,2024-06-16 -New US sanctions force end of dollar and euro trading on Russia’s main exchange,https://edition.cnn.com/2024/06/13/investing/us-russia-sanctions-dollar-euro-trading/index.html," - Updated - 10:36 PM EDT, Thu June 13, 2024 - ","New US sanctions against Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, the Moscow Exchange. - - The exchange, also known as MOEX, and the Russian central bank rushed out statements Wednesday, a public holiday in Russia, within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Moscow’s war in Ukraine. - - “Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said. - - The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight. - - Instead, they will have to trade over the counter, where deals are conducted directly between two parties. The central bank said it would use data from those trades to set official exchange rates. - - Many Russians hold savings in dollars or euros, mindful of periodic crises in recent decades when the ruble has crashed in value. The central bank reassured people these deposits were secure. - - “Companies and individuals can continue to buy and sell US dollars and euros through Russian banks. All funds in US dollars and euros in the accounts and deposits of citizens and companies remain safe,” it said. - - One person at a large, non-sanctioned Russian commodities exporter told Reuters: “We don’t care, we have yuan. Getting dollars and euros in Russia is practically impossible.” - - With Moscow pursuing closer trade and political ties with Beijing, China’s yuan has ousted the dollar to become MOEX’s most traded currency, accounting for 53.6% of all foreign currency traded in May. - - Dollar-ruble trading volume on MOEX tends to be around 1 billion rubles ($11 million) a day, while euro-ruble trading hovers at around 300 million rubles ($3 million) daily. For yuan-ruble trading, daily volumes now regularly top 8 billion rubles ($90 million). - - On the eve of the national holiday, the ruble closed at 89.10 to the dollar and at 95.62 against the euro. Following the sanctions news, some banks immediately jacked up their dollar rates. - - Norvik Bank said Wednesday that it was offering to buy dollars for just 50 rubles but sell for 200 rubles, though it later adjusted the rates to 88.20/97.80. Tsifra Bank was buying dollars at 89 rubles and selling at 120. - - The US Treasury said it was “targeting the architecture of Russia’s financial system, which has been reoriented to facilitate investment into its defense industry and acquisition of goods needed to further its aggression against Ukraine.” - - Russia’s central bank has been bracing for such sanctions for around two years. In July 2022, the bank said it was modeling various sanctions scenarios with foreign exchange market participants and infrastructure organizations. - - “This is bad but expected news,” Russian broker T-Investments said on Telegram. - - Forbes Russia had reported in 2022 that the central bank was discussing a mechanism for managing the ruble-dollar exchange rate should exchange trading be halted in the event of sanctions against MOEX and its National Clearing Centre, which was also hit by the new sanctions. - - MOEX said share trading and money market trades settled in dollars and euros would also cease. The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.",CNN,13/06/2024,"['NewUS sanctionsagainst Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, theMoscow Exchange.', 'The exchange, also known as MOEX, and the Russian central bank rushed out statements Wednesday, a public holiday in Russia, within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Moscow’s war in Ukraine.', '“Due to the introduction of restrictive measures by the United States against theMoscow ExchangeGroup, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said.', 'The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight.', 'Instead, they will have to trade over the counter, where deals are conducted directly between two parties.', 'The central bank said it would use data from those trades to set official exchange rates.', 'Many Russians hold savings in dollars or euros, mindful of periodic crises in recent decades when the ruble has crashed in value.', 'The central bank reassured people these deposits were secure.', '“Companies and individuals can continue to buy and sell US dollars and euros through Russian banks.', 'All funds in US dollars and euros in the accounts and deposits of citizens and companies remain safe,” it said.', 'One person at a large, non-sanctioned Russian commodities exporter told Reuters: “We don’t care, we have yuan.', 'Getting dollars and euros in Russia is practically impossible.”', 'With Moscow pursuing closer trade and political ties with Beijing, China’s yuan has ousted the dollar to become MOEX’s most traded currency, accounting for 53.6% of all foreign currency traded in May.', 'Dollar-ruble trading volume on MOEX tends to be around 1 billion rubles ($11 million) a day, while euro-ruble trading hovers at around 300 million rubles ($3 million) daily.', 'For yuan-ruble trading, daily volumes now regularly top 8 billion rubles ($90 million).', 'On the eve of the national holiday, the ruble closed at 89.10 to the dollarand at 95.62 against the euro.', 'Following the sanctions news, some banks immediately jacked up their dollar rates.', 'Norvik Bank said Wednesday that it was offering to buy dollars for just 50 rubles but sell for 200 rubles, though it later adjusted the rates to 88.20/97.80.', 'Tsifra Bank was buying dollars at 89 rubles and selling at 120.', 'The US Treasury said it was “targeting the architecture of Russia’s financial system, which has been reoriented to facilitate investment into its defense industry and acquisition of goods needed to further its aggression against Ukraine.”', 'Russia’s central bank has been bracing for such sanctions for around two years.', 'In July 2022, the bank said it was modeling various sanctions scenarios with foreign exchange market participants and infrastructure organizations.', '“This is bad but expected news,” Russian broker T-Investments said on Telegram.', 'Forbes Russia had reported in 2022 that the central bank was discussing a mechanism for managing the ruble-dollar exchange rate should exchange trading be halted in the event of sanctions against MOEX and its National Clearing Centre, which was also hit by the new sanctions.', 'MOEX said share trading and money market trades settled in dollars and euros would also cease.', 'The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.']",0.0863052869969159,The central bank reassured people these deposits were secure.,"The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.",0.122061808904012,The central bank reassured people these deposits were secure.,"NewUS sanctionsagainst Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, theMoscow Exchange.",2024-06-16 -Airports criticise sudden re-introduction of 100ml liquids limits,https://www.bbc.co.uk/news/articles/c9885p925rno,2024-06-12T14:18:15.876Z,"Airports have criticised the government’s sudden re-introduction of 100ml limits on liquids in hand luggage last weekend. The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached. After installing high-tech new scanning equipment, some regional airports had scrapped liquid restrictions. Major hubs had not yet switched to the new rules, but are rolling out the machines. The transport secretary has insisted the re-imposition of the old limits is ""temporary’"" but it’s unclear how long the situation will last. The government requires all UK airports to upgrade to ""next generation"" security. New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security. The likes of Heathrow, Gatwick and Manchester were allowed to miss the latest deadline for installing them – 1 June this year - after various logistical challenges. However London City, Teesside, Newcastle, Leeds-Bradford, Aberdeen and Southend had complied on time and dropped the old liquids rules – some as early as Spring last year. Birmingham completed its installation but was told to keep the 100ml limit while waiting for regulatory approval. But on Friday, an unexpected announcement from the Department for Transport (DfT) said that from Sunday, liquids, gels and pastes could once again only be taken through airport security in containers of 100ml or less. At the time, the DfT said it was not in response to a specific threat, but ""to enable further improvements to be made to the new checkpoint systems"". The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved. The sudden change caused consternation among airport bosses, who were only informed on the Friday. Karen Dee, chief executive of trade body the Airport Operators Association, said hundreds of millions of pounds were being spent on a ""huge"" programme of change, as instructed by the government. She said airports supported decisions on security, but Friday’s ""surprise"" announcement ""was sprung on us with very little time to react"", and this ""created uncertainty for passengers just as airports enter their busiest periods of the year"". ""It has also put airport operators in a challenging position, with very limited time to prepare for the additional staffing and wider resources that this will require, and no clear idea of when this issue will be resolved."" Airports who had fully switched the new systems and have trained and rostered their staff accordingly, are most affected, unable to use the expensive, new equipment to its full potential. The change is understood to have led to more items being rejected or confiscated as passengers have turned up expecting to be allowed to take larger containers through. Some larger airports who were only part way through their roll-outs had been using the new scanners in some areas so have also had to quickly alter ways of working. Thirty airport bosses, along with the AOA, have jointly written to the transport secretary, aviation minister and civil servants today in response to Friday’s announcement. Among the questions they want answering are how the decision was taken, what it means for airports who are part-way through their roll-out - with implications for staff training programmes - and how long the reversion to the 100ml limit will last. Ms Dee said airports were doing all they could to mitigate the impact. She asked passengers to come prepared to comply with the liquid limit until advised otherwise. A DfT spokesperson said Friday’s announcement only affected people travelling from six regional airports where Next Generation Security Checkpoints (NGSC) were already in full operation, which it said was around 6% of all UK air passengers. They added security measures would remain unchanged from those in place since 2006 for most passengers, and travellers should continue to check security requirements with their departure airport. The department said it had communicated with airports swiftly upon receiving new information. ",BBC,12/06/2024,"['Airports have criticised the government’s sudden re-introduction of 100ml limits on liquids in hand luggage last weekend.', 'The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.', 'After installing high-tech new scanning equipment, some regional airports had scrapped liquid restrictions.', 'Major hubs had not yet switched to the new rules, but are rolling out the machines.', 'The transport secretary has insisted the re-imposition of the old limits is ""temporary’"" but it’s unclear how long the situation will last.', 'The government requires all UK airports to upgrade to ""next generation"" security.', 'New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security.', 'The likes of Heathrow, Gatwick and Manchester were allowed to miss the latest deadline for installing them – 1 June this year - after various logistical challenges.', 'However London City, Teesside, Newcastle, Leeds-Bradford, Aberdeen and Southend had complied on time and dropped the old liquids rules – some as early as Spring last year.', 'Birmingham completed its installation but was told to keep the 100ml limit while waiting for regulatory approval.', 'But on Friday, an unexpected announcement from the Department for Transport (DfT) said that from Sunday, liquids, gels and pastes could once again only be taken through airport security in containers of 100ml or less.', 'At the time, the DfT said it was not in response to a specific threat, but ""to enable further improvements to be made to the new checkpoint systems"".', 'The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved.', 'The sudden change caused consternation among airport bosses, who were only informed on the Friday.', 'Karen Dee, chief executive of trade body the Airport Operators Association, said hundreds of millions of pounds were being spent on a ""huge"" programme of change, as instructed by the government.', 'She said airports supported decisions on security, but Friday’s ""surprise"" announcement ""was sprung on us with very little time to react"", and this ""created uncertainty for passengers just as airports enter their busiest periods of the year"". ""', 'It has also put airport operators in a challenging position, with very limited time to prepare for the additional staffing and wider resources that this will require, and no clear idea of when this issue will be resolved.""', 'Airports who had fully switched the new systems and have trained and rostered their staff accordingly, are most affected, unable to use the expensive, new equipment to its full potential.', 'The change is understood to have led to more items being rejected or confiscated as passengers have turned up expecting to be allowed to take larger containers through.', 'Some larger airports who were only part way through their roll-outs had been using the new scanners in some areas so have also had to quickly alter ways of working.', 'Thirty airport bosses, along with the AOA, have jointly written to the transport secretary, aviation minister and civil servants today in response to Friday’s announcement.', 'Among the questions they want answering are how the decision was taken, what it means for airports who are part-way through their roll-out - with implications for staff training programmes - and how long the reversion to the 100ml limit will last.', 'Ms Dee said airports were doing all they could to mitigate the impact.', 'She asked passengers to come prepared to comply with the liquid limit until advised otherwise.', 'A DfT spokesperson said Friday’s announcement only affected people travelling from six regional airports where Next Generation Security Checkpoints (NGSC) were already in full operation, which it said was around 6% of all UK air passengers.', 'They added security measures would remain unchanged from those in place since 2006 for most passengers, and travellers should continue to check security requirements with their departure airport.', 'The department said it had communicated with airports swiftly upon receiving new information.']",0.1283890635126139,New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security.,"The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.",-0.5570434861712985,"The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved.","The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.",2024-06-16 -Fisker recalls thousands of Ocean EVs for safety and compliance issues,https://www.cnbc.com/2024/06/12/fisker-recalls-thousands-of-ocean-evs-for-safety-and-compliance-issues.html,2024-06-12T17:52:33+0000,"In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues. The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons. The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.Fisker said that vehicles updated to OS 2.1 are not impacted by the recall. Fisker anticipates completing the software update process by June 30, 2024. The recalls come after months of setbacks for Fisker. Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand. Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels. In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open. This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement.Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available. The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.",CNBC,12/06/2024,"['In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.', 'The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.', 'The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.', 'Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons.', 'The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.', 'Fisker said that vehicles updated to OS 2.1 are not impacted by the recall.', 'Fisker anticipates completing the software update process by June 30, 2024.The recalls come after months of setbacks for Fisker.', 'Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.', 'Fisker\'s struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup\'s shares due to ""abnormally low"" price levels.', ""In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open."", ""This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement."", 'Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available.', 'The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.']",0.0060538940872337,"The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.","Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels.",-0.9712965488433838,,Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.,2024-06-16 -"National Amusements stops discussions with Skydance on Paramount deal, sources say",https://www.cnbc.com/2024/06/11/national-amusements-stops-discussions-with-skydance-on-paramount-deal-sources-say.html,2024-06-12T00:42:45+0000,"In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction. National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR. The deal had been awaiting signoff from Redstone, CNBC previously reported. National Amusements, which Redstone controls, owns 77% of class A Paramount shares.Paramount shares closed nearly 8% lower Tuesday following the report.National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.Redstone's company said it ""supports the recently announced strategic plan being executed by Paramount's Office of the CEO as well as their ongoing work and that of the Company's Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.""Paramount declined to comment. Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.The Wall Street Journal earlier reported talks had ended.""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns.Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter. The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking. The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter. A spokesperson for Phillips declined to comment. The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media. At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction. The Special Committee did not vote on any potential transaction.""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount's annual shareholder meeting, where the company's leadership outlined plans for the future.Last week, Paramount's current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company's strategic priorities in the event the company was not sold.The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets. The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell.While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support. She has approved of their ideas and leadership during their short tenure, CNBC previously reported.Redstone has controlled the future of Paramount and whether a sale would take place. She can now consider other offers for National Amusements from outside buyers. In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported. However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported. Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company. Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt.The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year. Paramount had roughly $14.6 billion in long-term debt as of March 31.",CNBC,12/06/2024,"['In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction.', ""National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR."", 'The deal had been awaiting signoff from Redstone, CNBC previously reported.', 'National Amusements, which Redstone controls, owns 77% of class A Paramount shares.', 'Paramount shares closed nearly 8% lower Tuesday following the report.', 'National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.', 'Redstone\'s company said it ""supports the recently announced strategic plan being executed by Paramount\'s Office of the CEO as well as their ongoing work and that of the Company\'s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.', '""Paramount declined to comment.', 'Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.', 'The Wall Street Journal earlier reported talks had ended.', '""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.', ""There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns."", 'Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter.', ""The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking."", ""The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter."", 'A spokesperson for Phillips declined to comment.', 'The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media.', ""At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction."", 'The Special Committee did not vote on any potential transaction.', '""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount\'s annual shareholder meeting, where the company\'s leadership outlined plans for the future.', 'Last week, Paramount\'s current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company\'s strategic priorities in the event the company was not sold.', 'The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.', 'The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets.', ""The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell."", 'While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support.', 'She has approved of their ideas and leadership during their short tenure, CNBC previously reported.', 'Redstone has controlled the future of Paramount and whether a sale would take place.', 'She can now consider other offers for National Amusements from outside buyers.', 'In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported.', 'However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.', 'Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported.', 'Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', ""Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt."", ""The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year."", 'Paramount had roughly $14.6 billion in long-term debt as of March 31.']",0.2387817313043969,"National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.","The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",0.1864744484424591,The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year.,"The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",2024-06-16 -‘They’re treating us like we’re spies’: Florida property ban has Chinese citizens fuming,https://edition.cnn.com/2024/06/17/homes/florida-law-bans-chinese-citizens-buying-homes/index.html," - Published - 12:01 AM EDT, Mon June 17, 2024 - ","After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida. Then, he was told the purchase might get him prison time. - - “That was really shocking to me. It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “Once I learned that, I didn’t even bother to look anymore.” - - Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers. For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state. - - Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state. Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether. And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year. - - Bian said that lately, he had begun reconsidering his life in Florida. He isn’t alone. Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state. Sellers and real estate agents can also be found liable under the law. - - “We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “We feel like we’re not welcome.” - - Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida. - - For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state. - - “Florida is taking action to stand against the United States’ greatest geopolitical threat — the Chinese Communist Party (CCP),” DeSantis said in a statement last year. - - The law is currently being challenged in court, but several other states are considering similar laws. - - “Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “We think this is a form of discrimination based on race, based on national origin and based on visa status.” - - Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act. He says there should be a distinction made between the CCP and Chinese nationals. - - The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.” But the term “domiciled” isn’t fully defined in the law’s language. - - Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill. - - Like Bian, Li had been searching for a new home when the law passed. Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications. - - “I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “No matter if I have a green card or I’m a citizen, I still have a Chinese face.” - - The controversial law comes at a time when relations between the US and China have grown increasingly tense. - - Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US. - - In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat. According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US. - - “The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “That’s common sense.” - - To Bian, accusations of spying are offensive. - - “We’re ordinary people. We don’t talk about these political things,” he said. “I think 99.99% of people here just want to have a good life.” - - Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty. Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions. - - “The law has caused us so much confusion,” she said. “It definitely hurts business.” - - Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents. - - “People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “It’s very unfair and also very un-American.” - - Jin, who is a citizen, said she plans to stay in Florida. But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books. - - Li said she will likely leave Florida after her daughter goes off to college. Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California. - - “I don’t think California will ever have this kind of law.”",CNN,17/06/2024,"['After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida.', 'Then, he was told the purchase might get him prison time.', '“That was really shocking to me.', 'It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “', 'Once I learned that, I didn’t even bother to look anymore.”', 'Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers.', 'For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state.', 'Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state.', 'Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether.', 'And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year.', 'Bian said that lately,he had begun reconsidering his life in Florida.', 'He isn’t alone.', 'Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.', 'Sellers and real estate agents can also be found liable under the law.', '“We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “', 'We feel like we’re not welcome.”', 'Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida.', 'For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state.', '“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.', 'The law is currently being challenged in court, but several other states are considering similar laws.', '“Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “', 'We think this is a form of discrimination based on race, based on national origin and based on visa status.”', 'Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act.', 'He says there should be a distinction made between the CCP and Chinese nationals.', 'The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.”', 'But the term “domiciled” isn’t fully defined in the law’s language.', 'Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill.', 'Like Bian, Li had been searching for a new home when the law passed.', 'Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications.', '“I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “', 'No matter if I have a green card or I’m a citizen, I still have a Chinese face.”', 'The controversial law comes at a time when relations between the US and China have grown increasingly tense.', 'Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US.', 'In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat.', 'According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US.', '“The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “', 'That’s common sense.”', 'To Bian, accusations of spying are offensive.', '“We’re ordinary people.', 'We don’t talk about these political things,” he said. “', 'I think 99.99% of people here just want to have a good life.”', 'Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty.', 'Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.', '“The law has caused us so much confusion,” she said. “', 'It definitely hurts business.”', 'Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents.', '“People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “', 'It’s very unfair and also very un-American.”', 'Jin, who is a citizen, said she plans to stay in Florida.', 'But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books.', 'Li said she will likely leave Florida after her daughter goes off to college.', 'Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California.', '“I don’t think California will ever have this kind of law.”']",-0.1188935252580385,"“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.","Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.",-0.6851268793855395,Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.,It definitely hurts business.”,2024-06-16 -"FDA advisors recommend Eli Lilly's Alzheimer's drug donanemab, paving way for approval",https://www.cnbc.com/2024/06/10/fda-advisors-recommend-eli-lilly-alzheimers-drug-donanemab.html,2024-06-10T21:08:08+0000,"In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year.The FDA typically follows the recommendations of its advisory panels but is not required to do so. If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai.An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease. But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks. ""There's a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday. Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.Eli Lilly is ""pleased"" with the panel's recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.The recommendation follows snags Eli Lilly faced in bringing the treatment to market.The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment.It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year. The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it. The FDA appears to be reviewing donanemab more cautiously after its polarizing approval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai. The agency granted accelerated approval to that treatment despite a negative recommendation from an advisory panel.Biogen and Eisai have since dropped the drug. Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it. But neither of the treatments are cures.Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal. Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug. Biogen and Eisai signaled in April that they are seeing adoption pick up.In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins. That is a method known as intravenous infusion. Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted. He expects donanemab to rake in $500 million in sales by the end of the decade. Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia.Those results are comparable to those seen with Leqembi. Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity. People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study. Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau.Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau. The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug's effect. Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold. By the end of the trial, 60% of participants on donanemab were able to stop treatment.Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding. The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms. They included headache, confusion, dizziness, nausea and in rare cases, seizures.Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.If donanemab is approved, FDA staff said they expect the drug's label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4. They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.That is consistent with Leqembi's approval label.There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff. That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.",CNBC,10/06/2024,"[""In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year."", 'The FDA typically follows the recommendations of its advisory panels but is not required to do so.', ""If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai."", ""An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease."", 'But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.', ""In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks."", '""There\'s a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday.', 'Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.', 'Eli Lilly is ""pleased"" with the panel\'s recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.', 'The recommendation follows snags Eli Lilly faced in bringing the treatment to market.', ""The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment."", 'It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.', 'The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it.', ""The FDA appears to be reviewing donanemab more cautiously after its polarizingapproval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai."", 'The agencygrantedaccelerated approvaltothat treatment despite a negative recommendation from an advisory panel.', 'Biogen and Eisai have since dropped the drug.', ""Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease."", ""Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it."", 'But neither of the treatments are cures.', 'Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal.', ""Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug."", 'Biogen and Eisai signaled in April that they are seeing adoption pick up.', 'In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly\'s drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.', 'That is a method known as intravenous infusion.', 'Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted.', 'He expects donanemab to rake in $500 million in sales by the end of the decade.', ""Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia."", 'Those results are comparable to those seen with Leqembi.', ""Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity."", 'People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study.', ""Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau."", 'Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau.', 'The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug\'s effect.', 'Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.', '""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.', ""Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold."", 'By the end of the trial, 60% of participants on donanemab were able to stop treatment.', 'Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.', 'Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding.', 'The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms.', 'They included headache, confusion, dizziness, nausea and in rare cases, seizures.', 'Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.', 'If donanemab is approved, FDA staff said they expect the drug\'s label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4.', 'They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.', ""That is consistent with Leqembi's approval label."", ""There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff."", ""That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.""]",0.0600911008433513,"It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.",Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease.,0.2095230562346322,Biogen and Eisai signaled in April that they are seeing adoption pick up.,"In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.",2024-06-16 -Ford ends EV dealership program that required hefty investment to sell electric models,https://www.cnbc.com/2024/06/13/ford-ends-ev-dealership-program.html,2024-06-13T14:13:20+0000,"In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks. That optimism, however, has not panned out as expected.EV sales for Ford and other automakers are growing but at a far slower pace than many expected. That's led to automakers delaying or canceling future electric vehicles and investments.""The world has changed,"" Marin Gjaja, chief operating officer of Ford's Model E electric vehicle business, said Thursday during a media briefing. ""The growth has slowed down.""Gjaja said the Model e Dealership Program, which included about half of Ford's 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers. The company had faced lawsuits from dealers over the program.Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks. ""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""We think it's going to help us grow our sales.""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.Gjaja said those initial estimates were high. He said dealers who participated in the full program invested about $600,000 on average.",CNBC,13/06/2024,"['In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.', 'The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks.', 'That optimism, however, has not panned out as expected.', 'EV sales for Ford and other automakers are growing but at a far slower pace than many expected.', ""That's led to automakers delaying or canceling future electric vehicles and investments."", '""The world has changed,"" Marin Gjaja, chief operating officer of Ford\'s Model E electric vehicle business, said Thursday during a media briefing. ""', 'The growth has slowed down.', '""Gjaja said the Model e Dealership Program, which included about half of Ford\'s 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers.', 'The company had faced lawsuits from dealers over the program.', 'Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks.', '""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""', ""We think it's going to help us grow our sales."", '""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.', 'Gjaja said those initial estimates were high.', 'He said dealers who participated in the full program invested about $600,000 on average.']",0.0858025423727656,"That optimism, however, has not panned out as expected.",In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.,0.5176552004284329,We think it's going to help us grow our sales.,The growth has slowed down.,2024-06-16 -These cities are now so expensive they’re considered ‘impossibly unaffordable’,https://edition.cnn.com/2024/06/14/business/house-prices-impossibly-unaffordable-intl-hnk/index.html," - Updated - 10:08 AM EDT, Fri June 14, 2024 - ","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home. - - But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable.” - - The report compared average incomes with average home prices. It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring. - - US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years. - - Perhaps unsurprisingly, the most expensive US cities to buy home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10. - - The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries. - - Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney and the southern cities of Melbourne in Victoria and Adelaide in South Australia. - - But topping the global leaderboard is Hong Kong, the compact Asian financial hub known for its tiny apartments and sky-high rents. Notably, it’s the only Chinese market covered in the report. - - A regular entrant on the “most expensive” tables, Hong Kong has the lowest home ownership rate of all the cities surveyed, at just 51%, compared to its Asian rival Singapore where home ownership tops 89% due to the government’s decades-long commitment to public housing. - - Hong Kong may be the least affordable city worldwide, but potential home buyers may be encouraged to know that it’s not as unaffordable as it once was. - - House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city. - - The report measures affordability using a price-to-income ratio of the median house price divided by the gross median household income. - - It links the rise in working from home during the pandemic to a “demand shock” for houses outside city centers, which have more outside space. But it also blames soaring house prices on land use policies, including “urban containment,” a kind of planning designed to stop urban sprawl. - - “The middle-class is under siege principally due to the escalation of land costs. As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up,” the report said. - - Prices were driven up even further as investors jumped into the market to make a profit. - - One solution, the report’s author wrote, is to look to New Zealand. - - In an opinion piece for Canada’s Financial Post, Wendell Cox, a senior fellow at the Frontier Centre for Public Policy, advocated for Canada, in particular, to follow New Zealand’s lead and free up more land for immediate development. - - Both Vancouver and Toronto made the list of the cities that are “impossibly unaffordable.” - - Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth. - - “Toronto and Vancouver show that the cost of taming expansion is unacceptably high: inflated house prices, higher rents and, for increasing numbers of people, poverty,” Cox wrote. - - For those who can’t wait for a change in policy or for demand to fall, the report also identifies the most affordable cities of the 94 surveyed worldwide. - - They are Pittsburgh, Rochester and St Louis in the US; Edmonton and Calgary in Canada; Blackpool, Lancashire and Glasgow in the United Kingdom; and Perth and Brisbane in Australia. - - The report was compiled by researchers from the Center for Demographics and Policy at Chapman University in California and the Frontier Centre for Public Policy, an independent public policy think tank in Canada.",CNN,14/06/2024,"['Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.', 'But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable.”', 'The report compared average incomes with average home prices.', 'It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.', 'US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years.', 'Perhaps unsurprisingly, the most expensive US cities to buy home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10.', 'The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries.', 'Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney andthe southern cities of Melbourne in Victoria and Adelaide in South Australia.', 'But topping the global leaderboard is Hong Kong, the compact Asian financial hub known for its tiny apartments and sky-high rents.', 'Notably, it’s the only Chinese market covered in the report.', 'A regular entrant on the “most expensive” tables, Hong Kong has the lowest home ownership rate of all the cities surveyed, at just 51%, compared to its Asian rival Singapore where home ownership tops 89% due to the government’s decades-long commitment to public housing.', 'Hong Kong may be the least affordable city worldwide, but potential home buyers may be encouraged to know that it’s not as unaffordable as it once was.', 'House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city.', 'The report measures affordability using a price-to-income ratio of the median house price divided by the gross median household income.', 'It links the rise in working from home during the pandemic to a “demand shock” for houses outside city centers, which have more outside space.', 'But it also blames soaring house prices on land use policies, including “urban containment,” a kind of planning designed to stop urban sprawl.', '“The middle-class is under siege principally due to the escalation of land costs.', 'As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up,” the report said.', 'Prices were driven up even further as investors jumped into the market to make a profit.', 'One solution, the report’s author wrote, is to look to New Zealand.', 'In an opinion piece for Canada’s Financial Post, Wendell Cox, a senior fellow at the Frontier Centre for Public Policy, advocated for Canada, in particular, to follow New Zealand’s lead and free up more land for immediate development.', 'Both Vancouver and Toronto made the list of the cities that are “impossibly unaffordable.”', 'Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth.', '“Toronto and Vancouver show that the cost of taming expansion is unacceptably high: inflated house prices, higher rents and, for increasing numbers of people, poverty,” Cox wrote.', 'For those who can’t wait for a change in policy or for demand to fall, the report also identifies the most affordable cities of the 94 surveyed worldwide.', 'They are Pittsburgh, Rochester and St Louis in the US; Edmonton and Calgary in Canada; Blackpool, Lancashire and Glasgow in the United Kingdom; and Perth and Brisbane in Australia.', 'The report was compiled by researchers from the Center for Demographics and Policy at Chapman University in California and the Frontier Centre for Public Policy, an independent public policy think tank in Canada.']",0.071200811841246,"Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth.","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.",-0.3996921089979318,Prices were driven up even further as investors jumped into the market to make a profit.,"House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city.",2024-06-16 -Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties,https://www.cnbc.com/2024/06/12/robotics-startup-synapse-ceo-exaggerated-gm-claims.html,2024-06-13T19:13:42+0000,"In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC. The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""Our team is in their Mexico factory this week to start the collection process. We would probably be the only company in this space with a dataset like this.""But, according to GM and one of the startup's founders, most of Foundation's claims related to the automaker are exaggerated or untrue.While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman.""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.""In a phone interview with CNBC, one of Foundation's cofounders, Mike LeBlanc, confirmed GM's points and said he was embarrassed that marketing materials existed that overstated their relationship.""The engineering stuff we've done is really incredible, and it's the bedrock of what this company will be,"" LeBlanc said. ""That, to me is what Foundation Robotics is.""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company's fundraising pitch.It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients. The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment.The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks.Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform. Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings.Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.",CNBC,13/06/2024,"['In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.', 'The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC.', 'The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.', '""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.', ""On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots."", '""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""', 'Our team is in their Mexico factory this week to start the collection process.', 'We would probably be the only company in this space with a dataset like this.', '""But, according to GM and one of the startup\'s founders, most of Foundation\'s claims related to the automaker are exaggerated or untrue.', ""While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman."", '""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""', 'In fact, GM has never had an agreement of any kind with the company.', 'Any claims to the contrary are fabricated.', '""In a phone interview with CNBC, one of Foundation\'s cofounders, Mike LeBlanc, confirmed GM\'s points and said he was embarrassed that marketing materials existed that overstated their relationship.', '""The engineering stuff we\'ve done is really incredible, and it\'s the bedrock of what this company will be,"" LeBlanc said. ""', 'That, to me is what Foundation Robotics is.', '""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company\'s fundraising pitch.', ""It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey."", 'The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients.', 'The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.', ""Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment."", ""The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks."", 'Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform.', 'Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.', ""The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings."", 'Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.', ""Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.""]",-0.0501589084925131,"On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.",In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.,-0.5666174769401551,"It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.","Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.",2024-06-16 -Tesco says shoppers are buying more as confidence returns,https://www.bbc.co.uk/news/articles/c511llw8l0lo,2024-06-14T09:56:19.345Z,"The UK's biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth. The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors. It saw strong sales in its premium food range, claiming consumers are opting to dine-in more. Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting. Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". ""We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added. Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I'm well paid."" According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee. Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin. The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer. Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets."" ",BBC,14/06/2024,"['The UK\'s biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth.', 'The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.', 'It saw strong sales in its premium food range, claiming consumers are opting to dine-in more.', 'Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting.', 'Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken\'s absolute level of pay"". ""', 'We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added.', 'Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I\'m well paid.""', ""According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee."", 'Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.', 'The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer.', 'Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “', 'We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""', 'Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets.""']",0.3783091490336879,"Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.","Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". """,0.641240266236392,"The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.","According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee.",2024-06-16 -Apple’s AI: We’ve seen some of this before,https://edition.cnn.com/2024/06/11/tech/apples-ai-tools-preview/index.html," - Published - 4:48 PM EDT, Tue June 11, 2024 - ","Apple is about to throw artificial intelligence into the mainstream, but some of it is similar to what its competitors are already doing. - - In a demo following Tuesday’s annual Worldwide Developers Conference, Apple gave CNN a preview of some of the AI-powered features coming to the iPhone, iPad and Mac in the fall. Powered by what the company is calling “Apple Intelligence,” some of the tools highlight a new era for the company; others remind us they’re just playing catch up. - - Still, for many, this will be the first time interacting with generative AI – the buzzy form of artificial intelligence that can provide seemingly thorough responses to questions – in a way that will affect their everyday lives. - - The biggest change coming to Apple devices is a modernized, much smarter Siri, potentially turning the company’s virtual assistant with a hit-or-miss track record into a more reliable, personalized chatbot. On the other hand, however, other AI tools look familiar from what we’ve seen on the market. And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist. - - Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot). It’ll also offer the ability to circle and remove distractions in photos (akin to Google Pixel’s Magic Easer). And it can also enable the production of AI-generated images from sketches (similar to Samsung Image Wand). - - Apple is often not the first to adopt and integrate emerging technologies. The company typically researches, develops and aims to perfect new tech for years before including it in new products. Yet the speed at which the world is adopting generative AI perhaps expedited the company’s need to have a smartphone with the latest tech industry bet and finally show off what it’s likely been working on behind the scenes for years. - - Users of only Apple most’s powerful (and therefore expensive) devices will be able to use the AI tools – this includes the iPhone 15 Pro or Mac with a M1, M2 and M3 processor. The rollout could also entice consumers to upgrade their devices at a time when they’ve been holding onto older models longer. - - Ahead of the demo, the company emphasized that the majority of the new tools are powered by Apple Intelligence. Its partnership with ChatGPT creator OpenAI only comes into play in a limited, specific way (more on that soon). - - In the demo, Apple discussed how writing tools with AI can be used to tighten cover letters and suggest changes, or change the tone of an email, rework sentence structure or catch typos. If you want your email to sound more professional, or more friendly, Apple says its AI will take a stab. While using the Notes app, you could ask for a summary of a meeting or school lecture. In the Photos app, it’s possible to remove something or someone out of a picture you no longer want there, using a quick tap. - - Apple also walked us through creating customized photos that could be sent in messages, such as the Golden Gate Bridge with fireworks in the background, or creating a birthday party invitation with a custom picture of a dinosaur on a surfboard. It’s easy to see how this, along with Genmoji – Apple’s custom AI-generated emoji that uses your likeness against different backgrounds – will bring new methods of communication into texting and interacting with others. - - Apple really flexes its AI muscle, however, when it comes to Siri, which Apple says is taking a massive step forward by becoming more contextually relevant and more personal. - - In the demo, an Apple executive asked Siri to set an alarm for 5:30 am and then changed her mind to 5:45 am. Siri obliged without a fumble. In Messages, Siri will know what you’re discussing in case a question comes up. For example, if you’re chatting with someone about tennis player Roger Federer, you can ask Siri how many games he’s won without ever saying his name out loud. - - When you have a question that’s beyond Siri’s scope, ChatGPT can step in. In the demo, Apple showed how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner. Siri could offer that this is a question better suited for ChatGPT, and ask the user if they consent to using the service. - - Although the partnership is limited for now, some analysts say it makes sense for the company to grow its own proprietary technology and fill in the gaps with ChatGPT in the meantime. Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company. - - OpenAI, along with other AI companies, continue to face concerns around misinformation, biases, copyright, privacy and security, and more. It also comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly. - - During its presentation, Apple also emphasized privacy and security, noting most AI functions will be done on the phone, keeping inputs away from a far-off server cloud. - - While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday. - - Although these are only Apple’s first steps into what tech giants are desperately hoping is a brave new world, it’s now poised to be a player in the ever-growing AI arms race.",CNN,11/06/2024,"['Apple is about to throw artificial intelligence into the mainstream, but some of it is similar to what its competitors are already doing.', 'In a demo following Tuesday’s annual Worldwide Developers Conference, Apple gave CNN a preview of some of the AI-powered features coming to the iPhone, iPad and Mac in the fall.', 'Powered by what the company is calling “Apple Intelligence,” some of the tools highlight a new era for the company; others remind us they’re just playing catch up.', 'Still, for many, this will be the first time interacting with generative AI – the buzzy form of artificial intelligence that can provide seemingly thorough responses to questions –in a way that will affect their everyday lives.', 'The biggest change coming to Apple devices is a modernized, much smarter Siri, potentially turning the company’s virtual assistant with a hit-or-miss track record into a more reliable, personalized chatbot.', 'On the other hand, however, other AI tools look familiar from what we’ve seen on the market.', 'And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist.', 'Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot).', 'It’ll also offer the ability to circle and remove distractions in photos (akin to Google Pixel’s Magic Easer).', 'And it can also enable the production of AI-generated images from sketches (similar to Samsung Image Wand).', 'Apple is often not the first to adopt and integrate emerging technologies.', 'The company typically researches, develops and aims to perfect new tech for years before including it in new products.', 'Yet the speed at which the world is adopting generative AI perhaps expedited the company’s need to have a smartphone with the latest tech industry bet and finally show off what it’s likely been working on behind the scenes for years.', 'Users of only Apple most’s powerful (and therefore expensive) devices will be able to use the AI tools – this includes the iPhone 15 Pro or Mac with a M1, M2 and M3 processor.', 'The rollout could also entice consumers to upgrade their devices at a time when they’ve been holding onto older models longer.', 'Ahead of the demo, the company emphasized that the majority of the new tools are powered by Apple Intelligence.', 'Its partnership with ChatGPT creator OpenAI only comes into play in a limited, specific way (more on that soon).', 'In the demo, Apple discussed how writing tools with AI can be used to tighten cover letters and suggest changes, or change the tone of an email, rework sentence structure or catch typos.', 'If you want your email to sound more professional, or more friendly, Apple says its AI will take a stab.', 'While using the Notes app, you could ask for a summary of a meeting or school lecture.', 'In the Photos app, it’s possible to remove something or someone out of a picture you no longer want there, using a quick tap.', 'Apple also walked us through creating customized photos that could be sent in messages, such as the Golden Gate Bridge with fireworks in the background, or creating a birthday party invitation with a custom picture of a dinosaur on a surfboard.', 'It’s easy to see how this, along with Genmoji – Apple’s custom AI-generated emoji that uses your likeness against different backgrounds – will bring new methods of communication into texting and interacting with others.', 'Apple really flexes its AI muscle, however, when it comes to Siri, which Apple says is taking a massive step forward by becoming more contextually relevant and more personal.', 'In the demo, an Apple executive asked Siri to set an alarm for 5:30 am and then changed her mind to 5:45 am.', 'Siri obliged without a fumble.', 'In Messages, Siri will know what you’re discussing in case a question comes up.', 'For example, if you’re chatting with someone about tennis player Roger Federer, you can ask Siri how many games he’s won without ever saying his name out loud.', 'When you have a question that’s beyond Siri’s scope, ChatGPT can step in.', 'In the demo, Apple showed how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner.', 'Siri could offer that this is a question better suited for ChatGPT, and ask the user if they consent to using the service.', 'Although the partnership is limited for now, some analysts say it makes sense for the company to grow its own proprietary technology and fill in the gaps with ChatGPT in the meantime.', 'Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company.', 'OpenAI, along with other AI companies, continue to face concerns around misinformation, biases, copyright, privacy and security, and more.', 'It also comes at a time when theindustry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.', 'During its presentation, Apple also emphasized privacy and security, noting most AI functions will be done on the phone, keeping inputs away from a far-off server cloud.', 'While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday.', 'Although these are only Apple’s first steps into what tech giants are desperately hoping is a brave new world, it’s now poised to be a player in the ever-growing AI arms race.']",0.1879032119342197,"Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot).","Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company.",0.5018185749650002,"While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday.","And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist.",2024-06-16 -Alstom: Derby train-maker wins £370m Elizabeth line order,https://www.bbc.co.uk/news/articles/c29986423x9o,2024-06-14T17:05:05.380Z,"Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line. The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders. The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network. Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site. In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work. Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May. Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them. A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city. Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “The UK remains one of Alstom’s most important global markets.” The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT). Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046. The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future. Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date. Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210. ",BBC,14/06/2024,"[""Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line."", 'The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders.', 'The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network.', 'Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site.', 'In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.', 'Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May.', 'Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them.', 'A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city.', 'Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “', 'The UK remains one of Alstom’s most important global markets.”', 'The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT).', 'Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046.', 'The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.', 'Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date.', 'Follow BBC Derby on Facebook, on X, or on Instagram.', 'Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210.']",0.0484999424552245,"The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.","In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",0.3100224733352661,Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “,"In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",2024-06-16 -Betting the House: The world of political wagers,https://www.bbc.co.uk/news/articles/c6pp5emm95do,2024-06-15T00:29:04.133Z,"An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting. Gambling on sporting events is now very big business in the UK. Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's. But betting has long been part of the political world too. From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative. One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""I got the Lib Dems to win at 20-to-1, and I got it right,"" he said. Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there's nothing like predicting winner and losers. ""People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying 'I think it's going this way, or that'"". Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson. But some remarkable amounts of money have been wagered over the years. In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election. They lost their money. Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"". Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election. But these figures do not include bets with the larger betting firms. This makes it a miniscule slice of the £15.1bn UK gambling market. But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""It has been helped by the fact we’ve had particularly volatile events - the 'yes' and 'no' Brexit referendum was perfect for betting. ""People like to bet on very tight events."" Over the years, the types of political bets have diversified. Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi. Betting on politics has a surprisingly long history in the UK. Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer. During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting. But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in. But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful. Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence. The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it. Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet. Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation. It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK. Westminster's gamblers will be watching the results of this one with particular interest. Advice on gambling addiction is available via the BBC Action Line. ",BBC,15/06/2024,"['An investigation into Rishi Sunak\'s parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.', 'Gambling on sporting events is now very big business in the UK.', ""Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's."", 'But betting has long been part of the political world too.', 'From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative.', 'One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""', 'I got the Lib Dems to win at 20-to-1, and I got it right,"" he said.', 'Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there\'s nothing like predicting winner and losers. ""', 'People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying \'I think it\'s going this way, or that\'"".', 'Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""', 'Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson.', 'But some remarkable amounts of money have been wagered over the years.', ""In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election."", 'They lost their money.', 'Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"".', 'Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election.', 'But these figures do not include bets with the larger betting firms.', 'This makes it a miniscule slice of the £15.1bn UK gambling market.', 'But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""', 'It has been helped by the fact we’ve had particularly volatile events - the \'yes\' and \'no\' Brexit referendum was perfect for betting. ""', 'People like to bet on very tight events.""', 'Over the years, the types of political bets have diversified.', 'Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""', 'Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi.', 'Betting on politics has a surprisingly long history in the UK.', 'Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer.', 'During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting.', ""But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in."", 'But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful.', 'Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence.', 'The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it.', 'Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet.', 'Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.', 'It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK.', ""Westminster's gamblers will be watching the results of this one with particular interest."", 'Advice on gambling addiction is available via the BBC Action Line.']",0.2101162009157575,But some remarkable amounts of money have been wagered over the years.,"Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.",0.3334703395764033,"But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""","An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.",2024-06-16 -Alan Bates learnt of birthday honours knighthood as Post Office boss was grilled,https://www.bbc.co.uk/news/articles/c722kzgp90lo,2024-06-14T21:30:48.540Z,"The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours. He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC. He was told that he had to let the Honours Committee know by the end of the day whether he would accept. For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts. He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer. Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.' And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said. He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “I think it’s another string to my bow to try and drive the rest of the campaign home. We have got to get funding for everybody. And that’s been my priority now for some time. And if it helps there, then great. It’s wonderful.” Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “I think the nation will support us if we have to go ahead with another case,” he said. The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998. Had he ever thought about giving up and letting it go? “I could never do that. We’ve all seen the horror stories, and there are so many. I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told. I mean, they’re absolutely diabolical. ""What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.” He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer. Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”. ",BBC,14/06/2024,"[""The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours."", 'He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “', 'It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC.', 'He was told that he had to let the Honours Committee know by the end of the day whether he would accept.', 'For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts.', 'He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.', 'Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “', ""I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.'"", 'And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said.', 'He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “', 'I think it’s another string to my bow to try and drive the rest of the campaign home.', 'We have got to get funding for everybody.', 'And that’s been my priority now for some time.', 'And if it helps there, then great.', 'It’s wonderful.”', 'Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “', 'I think the nation will support us if we have to go ahead with another case,” he said.', ""The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998."", 'Had he ever thought about giving up and letting it go? “', 'I could never do that.', 'We’ve all seen the horror stories, and there are so many.', 'I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told.', 'I mean, they’re absolutely diabolical. ""', 'What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.”', 'He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer.', 'Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”.']",0.07220490206195,"He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “",Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “,0.3621529340744018,"And if it helps there, then great.","He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.",2024-06-16 -"Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial",https://www.cnbc.com/2024/06/10/moderna-combination-covid-flu-vaccine-shows-positive-late-stage-data.html,2024-06-10T11:53:11+0000,"In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial. The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax. Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview. Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year. The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid. Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.Moderna's messenger RNA combination shot, called mRNA-1083, is made up of both the company's vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot. Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials. The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients. The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above. The trial also compared Moderna's combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64. In both age groups, a single dose of Moderna's combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable. The most common side effects were injection site pain, fatigue, muscle pain and headache. The majority of those effects were mild to moderate in severity. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV. Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial. Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.",CNBC,10/06/2024,"['In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial.', 'The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.', ""Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview."", 'Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year.', 'The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid.', 'Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.', 'Moderna\'s messenger RNA combination shot, called mRNA-1083, is made up of both the company\'s vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot.', 'Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials.', 'The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients.', ""The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above."", 'The trial also compared Moderna\'s combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64.In both age groups, a single dose of Moderna\'s combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable.', 'The most common side effects were injection site pain, fatigue, muscle pain and headache.', 'The majority of those effects were mild to moderate in severity.', 'Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial.', 'Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.']",0.0396964476371143,"Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",0.7456303664616176,"The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",2024-06-16 -Southwest CEO vows change as activist investor pushes for new leadership,https://www.cnbc.com/2024/06/12/southwest-ceo-vows-change-amid-activist-pressure.html,2024-06-12T16:53:03+0000,"In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.""We will adapt as our customers' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman.In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation."" He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday.Southwest on Monday said in response to the activist campaign that its board backed the company's leaders and the airline's strategy, while it will also ""look forward to further conversations with Elliott.""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises. The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion. The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system.Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience. It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years.""I think customer preference is going beyond that,"" Jordan said Wednesday. The carrier has spent months surveying customers to figure out what changes are needed, he added.""It's been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""We are also studying the operational and financial benefits of any potential change.""— CNBC's Rohan Goswami contributed to this article.",CNBC,12/06/2024,"['In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.', '""We will adapt as our customers\' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.', ""Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman."", 'In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.', 'Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation.""', ""He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks."", ""Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday."", 'Southwest on Monday said in response to the activist campaign that its board backed the company\'s leaders and the airline\'s strategy, while it will also ""look forward to further conversations with Elliott.', '""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.', 'The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.', 'Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion.', ""The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system."", 'Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience.', ""It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years."", '""I think customer preference is going beyond that,"" Jordan said Wednesday.', 'The carrier has spent months surveying customers to figure out what changes are needed, he added.', '""It\'s been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""', 'We are also studying the operational and financial benefits of any potential change.""—', ""CNBC's Rohan Goswami contributed to this article.""]",0.1227597138954453,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.",-0.1408947110176086,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.",2024-06-16 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-06-16 -Housing demand wanes as buyers bank on interest rate cut,https://www.bbc.co.uk/news/articles/cmllreerzmro,2024-06-13T14:18:42.842Z,"House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests. UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year. Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May. Financial markets are forecasting that the Bank of England could cut interest rates in August or September. Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year. The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected."" It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known."" The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p. A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May. Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months. However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months."" Those surveyed by RICS said that demand was weakest in both south east and south west England. In contrast, prices were still robust in Scotland and Northern Ireland. ",BBC,13/06/2024,"['House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests.', 'UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year.', 'Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.', 'Financial markets are forecasting that the Bank of England could cut interest rates in August or September.', 'Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year.', 'The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected.""', 'It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known.""', ""The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p."", 'A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May.', 'Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months.', 'However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""', 'Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""', 'Those surveyed by RICS said that demand was weakest in both south east and south west England.', 'In contrast, prices were still robust in Scotland and Northern Ireland.']",0.0614846507055062,The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p.,Those surveyed by RICS said that demand was weakest in both south east and south west England.,-0.2277548267291142,"Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""","Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.",2024-06-16 -Roche alleges counterfeit diabetes medical devices were sold on Amazon,https://www.cnbc.com/2024/06/10/roche-counterfeit-diabetes-medical-devices.html,2024-06-10T19:01:20+0000,"In this articleRoche, one of the world's largest biotech companies, said ""dangerous counterfeits"" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States.Roche accused manufacturers and sellers based in India of selling counterfeit versions of its Accu-Chek devices, which are used to test blood glucose levels. The company made the claim in a federal lawsuit unsealed late Friday.""Patients know that Roche's Accu-Chek medical devices are safe, sterile and accurate,"" the complaint said. Roche said the counterfeit test strips are expired or nearly expired products that are repackaged with counterfeit labels bearing Roche's registered U.S. trademarks and fake expiration dates.It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.""The lawsuit, which was filed under seal in May in the U.S. District Court in the Brooklyn borough of New York City, named as defendants four companies and their executives, all based in India. Roche is seeking unspecified damages.After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products. The Amazon stores that were offering the products for sale appear to have been taken down.Amazon is not a defendant in the case, but Roche claims that as part of the alleged scheme all of the counterfeit products sent to the U.S. were stored at Amazon warehouses across the country, including in Brooklyn. The products are typically shipped to businesses and individuals within 48 hours of landing at Amazon facilities.""Amazon currently has untold numbers of these dangerous counterfeit medical devices in its warehouses across the country, ready to deliver to unsuspecting American consumers at the click of a button,"" the complaint said.Roche said the counterfeiters participated in Amazon's Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ... Amazon, in return, receives a sizable percentage of the revenue from the counterfeit sales,"" according to the complaint.An Amazon spokesman told CNBC that the company has ""a zero tolerance policy for counterfeit products. We have proactive measures in place to prevent counterfeit products from being listed and continuously monitor our store. If we identify an issue, we act quickly to protect customers and brands, including removing counterfeit listings and blocking accounts, and collaborating with brands and law enforcement to protect our customers from bad actors attempting to abuse our store.""The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.The defendants are JMD Enterprises doing business as DKY Store USA, JMD Enterprises founder and owner Dileep Kumar Yadav, JMD International, JMD International owner and founder Abhishek Jain, Medical Hub_USA Store, Medical Hub_USA owner Ratnakar Sharma, Authentic Indian Store and Authentic Indian Store owner Atikur Rahman.CNBC contacted the defendants for comment, but has not yet received responses.A spokesperson for Roche told CNBC that the company does not comment on ongoing lawsuits.Roche's Accu-Chek diabetes care medical devices, used by millions of patients, include Accu-Chek glucometers, blood glucose test strips and lancets. The company's blood glucose test strips and lancets can be purchased with or without a prescription at pharmacies and online marketplaces, including Amazon.The lancets are specialized disposable needles used to draw blood for testing.The packaging on the counterfeit devices at the center of the lawsuit includes a misspelling of the name of the product as well as fake serial numbers and expiration dates, according to the complaint.The company launched an investigation into the counterfeits in late March when a whistleblower reached out with information, according to the complaint. Its investigators then purchased the products from the three Amazon stores listed in the complaint, the lawsuit said.As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product. In March, a different customer said the lancets she purchased from DKY were fake.Roche did not specify how long the counterfeit items were being sold on Amazon, or how many ultimately made it to customers.The issue of potentially dangerous glucose test strips emerged in 2019 when the Food and Drug Administration warned against using test strips from a previous owner or ones not authorized for sale in the U.S. At the time, the FDA said faulty test strips were being sold via online marketplaces and individual sellers.In 2011, Johnson & Johnson said it found counterfeit versions of its glucose test strips in India.CNBC in March reported findings of an investigation into stolen items sold on Amazon's marketplace via organized retail crime rings. The report centered on millions of dollars of items stolen from Ulta Beauty that were being sold for more than a decade on the platform.And in 2023, a CNBC investigation revealed how counterfeiters illegally alter prescription medications, which are then funneled into a gray market supply chain for resale to pharmacies and ultimately to patients.",CNBC,10/06/2024,"['In this articleRoche, one of the world\'s largest biotech companies, said ""dangerous counterfeits"" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States.', 'Roche accused manufacturers and sellers based in India of selling counterfeit versions of its Accu-Chek devices, which are used to test blood glucose levels.', 'The company made the claim in a federal lawsuit unsealed late Friday.', '""Patients know that Roche\'s Accu-Chek medical devices are safe, sterile and accurate,"" the complaint said.', ""Roche said the counterfeit test strips are expired or nearly expired products that are repackaged with counterfeit labels bearing Roche's registered U.S. trademarks and fake expiration dates."", 'It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.', '""The lawsuit, which was filed under seal in May in the U.S. District Court in the Brooklyn borough of New York City, named as defendants four companies and their executives, all based in India.', 'Roche is seeking unspecified damages.', ""After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products."", 'The Amazon stores that were offering the products for sale appear to have been taken down.', 'Amazon is not a defendant in the case, but Roche claims that as part of the alleged scheme all of the counterfeit products sent to the U.S. were stored at Amazon warehouses across the country, including in Brooklyn.', 'The products are typically shipped to businesses and individuals within 48 hours of landing at Amazon facilities.', '""Amazon currently has untold numbers of these dangerous counterfeit medical devices in its warehouses across the country, ready to deliver to unsuspecting American consumers at the click of a button,"" the complaint said.', 'Roche said the counterfeiters participated in Amazon\'s Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ...', 'Amazon, in return, receives a sizable percentage of the revenue from the counterfeit sales,"" according to the complaint.', 'An Amazon spokesman told CNBC that the company has ""a zero tolerance policy for counterfeit products.', 'We have proactive measures in place to prevent counterfeit products from being listed and continuously monitor our store.', 'If we identify an issue, we act quickly to protect customers and brands, including removing counterfeit listings and blocking accounts, and collaborating with brands and law enforcement to protect our customers from bad actors attempting to abuse our store.', '""The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.', 'The defendants are JMD Enterprises doing business as DKY Store USA, JMD Enterprises founder and owner Dileep Kumar Yadav, JMD International, JMD International owner and founder Abhishek Jain, Medical Hub_USA Store, Medical Hub_USA owner Ratnakar Sharma, Authentic Indian Store and Authentic Indian Store owner Atikur Rahman.', 'CNBC contacted the defendants for comment, but has not yet received responses.', 'A spokesperson for Roche told CNBC that the company does not comment on ongoing lawsuits.', ""Roche's Accu-Chek diabetes care medical devices, used by millions of patients, include Accu-Chek glucometers, blood glucose test strips and lancets."", ""The company's blood glucose test strips and lancets can be purchased with or without a prescription at pharmacies and online marketplaces, including Amazon."", 'The lancets are specialized disposable needles used to draw blood for testing.', 'The packaging on the counterfeit devices at the center of the lawsuit includes a misspelling of the name of the product as well as fake serial numbers and expiration dates, according to the complaint.', 'The company launched an investigation into the counterfeits in late March when a whistleblower reached out with information, according to the complaint.', 'Its investigators then purchased the products from the three Amazon stores listed in the complaint, the lawsuit said.', ""As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product."", 'In March, a different customer said the lancets she purchased from DKY were fake.', 'Roche did not specify how long the counterfeit items were being sold on Amazon, or how many ultimately made it to customers.', 'The issue of potentially dangerous glucose test strips emerged in 2019 when the Food and Drug Administration warned against using test strips from a previous owner or ones not authorized for sale in the U.S. At the time, the FDA said faulty test strips were being sold via online marketplaces and individual sellers.', 'In 2011, Johnson & Johnson said it found counterfeit versions of its glucose test strips in India.', ""CNBC in March reported findings of an investigation into stolen items sold on Amazon's marketplace via organized retail crime rings."", 'The report centered on millions of dollars of items stolen from Ulta Beauty that were being sold for more than a decade on the platform.', 'And in 2023, a CNBC investigation revealed how counterfeiters illegally alter prescription medications, which are then funneled into a gray market supply chain for resale to pharmacies and ultimately to patients.']",-0.0805894667901319,"Roche said the counterfeiters participated in Amazon's Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ...","It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.",-0.979553997516632,,"As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product.",2024-06-16 -The battle for Gen Z social shoppers,https://www.bbc.co.uk/news/articles/c511p8gdn21o,2024-06-13T23:09:47.653Z,"Shopping habits have not been the same since the Covid pandemic and resulting lockdowns. For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce. Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt. The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times. For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. ""It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds. Social shopping is a big market and growing fast. In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista. While TikTok is one of the big players, its position looks vulnerable. TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance. So where would that leave social shopping? If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer. Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds. But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg. Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “It’s a very important activity on the app, especially for its users,” says Ms Enberg. Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app. Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says. A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon. Perhaps TikTok's experience in Indonesia might have some useful lessons. In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop. But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close. For 26-year-old entrepreneur Evo Syah it was a major blow. “It’s hard for me, but what I can do?” he says recalling the tough decisions he had to make. “I just start my business for one year, and then they shut me down,” he says. But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app. The 26-year-old said he “never felt happier”. But not everything went back to normal. ""Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily. But after it reopened again that’s down to 10 million rupiah (£483),” he says. Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “Indonesia is a very different commerce landscape to the US,” she says. However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “Many of them don't really have another place that is as powerful as TikTok.” Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “Instagram Reels is the most natural fit for a lot of displaced TikTok users. But we'll probably also see a rise of new apps."" Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned. Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “In a world where this may happen. I think this next big thing has yet to be created,” adds AJ. ",BBC,13/06/2024,"['Shopping habits have not been the same since the Covid pandemic and resulting lockdowns.', 'For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce.', 'Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt.', 'The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times.', 'For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. ""', 'It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “', 'You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds.', 'Social shopping is a big market and growing fast.', 'In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista.', 'While TikTok is one of the big players, its position looks vulnerable.', 'TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance.', 'So where would that leave social shopping?', 'If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer.', 'Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds.', ""But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg."", 'Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “', 'It’s a very important activity on the app, especially for its users,” says Ms Enberg.', 'Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.', 'Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “', ""When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says."", 'A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon.', ""Perhaps TikTok's experience in Indonesia might have some useful lessons."", ""In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop."", 'But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.', 'For 26-year-old entrepreneur Evo Syah it was a major blow. “', 'It’s hard for me, but what I can do?”', 'he says recalling the tough decisions he had to make. “', 'I just start my business for one year, and then they shut me down,” he says.', 'But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app.', 'The 26-year-old said he “never felt happier”.', 'But not everything went back to normal. ""', 'Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily.', 'But after it reopened again that’s down to 10 million rupiah (£483),” he says.', 'Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “', 'Indonesia is a very different commerce landscape to the US,” she says.', 'However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “', ""Many of them don't really have another place that is as powerful as TikTok.”"", 'Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “', 'Instagram Reels is the most natural fit for a lot of displaced TikTok users.', 'But we\'ll probably also see a rise of new apps.""', 'Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned.', ""Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “"", 'In a world where this may happen.', 'I think this next big thing has yet to be created,” adds AJ.']",0.0621521731102571,"Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.","But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.",0.0839516749748816,"For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. """,For 26-year-old entrepreneur Evo Syah it was a major blow. “,2024-06-16 -Stellantis plans to grow Jeep sales 50% by 2027,https://www.cnbc.com/2024/06/13/stellantis-jeep-sales-growth.html,2024-06-13T18:09:38+0000,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis' investor day at its North American headquarters. ""We are going to reinforce the manufacturing footprint of Jeep.""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said. Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric. That's up from 18 currently.   ""We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon. A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV. Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck. Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier. The brand sold nearly 643,000 vehicles last year, down 6% from 2022. Jeep represented 42% of Stellantis' U.S. sales in 2023.",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis\' investor day at its North American headquarters. ""', 'We are going to reinforce the manufacturing footprint of Jeep.', '""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said.', 'Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric.', 'That\'s up from 18 currently. ""', 'We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.', 'Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.', 'Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon.', 'A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV.', 'Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.', ""A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck."", 'Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.', '""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis,Teslaand others.', 'The importance of such a vehicle has grown more apparent as Chinese automakers such as BYDandNiogrow their salesof less-expensive EVsoutside of China.', ""Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier."", 'The brand sold nearly 643,000 vehicles last year, down 6% from 2022.', ""Jeep represented 42% of Stellantis' U.S. sales in 2023.""]",0.1862019152259262,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.",,0.7979354679584503,"Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.","The brand sold nearly 643,000 vehicles last year, down 6% from 2022.",2024-06-16 -GM trims 2024 EV forecast amid slower-than-expected demand,https://www.cnbc.com/2024/06/11/gm-trims-2024-ev-sales-forecast-amid-slower-than-expected-demand.html,2024-06-11T17:51:08+0000,"In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000. The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. That milestone is still expected in the fourth quarter of this year, he said.Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May. Sales of GM's all-electric vehicles remained minuscule during the first quarter. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV. The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500. GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.The two new EVs, which share GM's ""Ultium"" EV platform and technologies, are crucial for GM's EV growth.In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year. He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of June.""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently. This allows us to continue returning cash to shareholders,"" Jacobson said in a release.Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024. A prior version of this article misstated that range.",CNBC,11/06/2024,"['In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.', 'GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.', 'The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.', '""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.', 'Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year.', ""That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units."", 'That milestone is still expected in the fourth quarter of this year, he said.', 'Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May.', ""Sales of GM's all-electric vehicles remained minuscule during the first quarter."", ""EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period."", 'The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV.', 'The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500.', 'GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.', 'The two new EVs, which share GM\'s ""Ultium"" EV platform and technologies, are crucial for GM\'s EV growth.', 'In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year.', 'He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.', 'The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.', 'The new buyback authorization comes as anaccelerated $10 billionshare repurchase program announced in November 2023 is expected to be completed by the end of June.', '""We are very focused on the profitability of our [internal combustion engine] business, we\'re growing and improving the profitability of our EV business and deploying our capital efficiently.', 'This allows us to continue returning cash to shareholders,"" Jacobsonsaid in a release.', 'Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024.', 'A prior version of this article misstated that range.']",0.1281523670116651,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.",0.0904689051888205,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.",2024-06-16 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-06-16 -Wells Fargo fires workers over fake keyboard activity,https://www.bbc.co.uk/news/articles/cjll01220yeo,2024-06-13T19:46:45.871Z,"US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not. It is not yet clear how the issue was discovered or whether it was specifically related to people working from home. The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"". New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years. A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour."" In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time. Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic. Such services can track keystrokes and eye movements, take screenshots and log which websites are visited. But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available. According to Amazon, where they can be found for less than $10, thousands have been sold in the last month. Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected. The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims. Many of them had worked for Wells Fargo for less than five years. Many firms, especially in the financial industry, are pushing staff to return to the office. Remote work has remained popular since the pandemic but numbers have been drifting lower. In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago. As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers. ",BBC,13/06/2024,"['US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.', 'It is not yet clear how the issue was discovered or whether it was specifically related to people working from home.', 'The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"".', 'New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years.', 'A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""', 'In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time.', 'Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic.', 'Such services can track keystrokes and eye movements, take screenshots and log which websites are visited.', 'But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available.', 'According to Amazon, where they can be found for less than $10, thousands have been sold in the last month.', 'Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected.', 'The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims.', 'Many of them had worked for Wells Fargo for less than five years.', 'Many firms, especially in the financial industry, are pushing staff to return to the office.', 'Remote work has remained popular since the pandemic but numbers have been drifting lower.', 'In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago.', 'As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers.']",0.1071104623898091,"A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""",US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.,-0.9963567852973938,,Remote work has remained popular since the pandemic but numbers have been drifting lower.,2024-06-16 -Servers for GameStop annual shareholder meeting crash due to overwhelming interest,https://www.cnbc.com/2024/06/13/gamestop-annual-shareholder-meeting-2024-servers-crash.html,2024-06-14T12:23:03+0000,"In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream. The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event. The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.It said the meeting will be reconvened at 12:30 p.m. ET on Monday. GameStop didn't respond to CNBC's request for comment.When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that ComputerShare's tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes."" The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years. Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.GameStop surged 14.4% on Thursday in another volatile session.GameStop announced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally. GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock.In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns. Call options give the buyer the right to buy a stock at a specified price within a specific period. They increase in value if the stock rises above the so-called strike price.GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.",CNBC,14/06/2024,"[""In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream."", ""The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event."", 'The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.', 'It said the meeting will be reconvened at 12:30 p.m. ET on Monday.', ""GameStop didn't respond to CNBC's request for comment."", 'When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.', ""The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts."", 'They added that ComputerShare\'s tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes.', '""The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years.', 'Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.', 'GameStop surged 14.4% on Thursday in another volatile session.', 'GameStopannounced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally.', 'GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.', ""Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock."", 'In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns.', 'Call options give the buyer the right to buy a stock at a specified price within a specific period.', 'They increase in value if the stock rises above the so-called strike price.', 'GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.', 'The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.', 'It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.', ""Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.""]",0.1013017582753665,"Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.","The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event.",-0.2003346773294302,GameStop surged 14.4% on Thursday in another volatile session.,"The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.",2024-06-16 -Church community-owned solar farm plan approved,https://www.bbc.co.uk/news/articles/cmllrn2v2m9o,2024-06-14T05:26:46.971Z,"A community-owned solar farm is set to be built by the end of next year. The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee. Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed. The scheme will connect the solar array to a substation on Blackburn Road. It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal. Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025. Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “It will put Hyndburn in the forefront of the green revolution and renewable energy generation.” Peel ward’s councillor Clare Pritchard said: “I support this application. It is something we need more of in the borough.” Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.” Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.” Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas to northwest.newsonline@bbc.co.uk ",BBC,14/06/2024,"['A community-owned solar farm is set to be built by the end of next year.', ""The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee."", 'Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed.', 'The scheme will connect the solar array to a substation on Blackburn Road.', 'It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal.', 'Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.', 'Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “', 'It will put Hyndburn in the forefront of the green revolution and renewable energy generation.”', 'Peel ward’s councillor Clare Pritchard said: “I support this application.', 'It is something we need more of in the borough.”', 'Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.”', 'Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”', 'Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram.', 'You can also send story ideas to northwest.newsonline@bbc.co.uk']",0.2997221843474639,Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.,"Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “",0.989383856455485,Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”,,2024-06-16 -"WNBA reports record TV viewership for 2024 season, highest game attendance in 26 years",https://www.cnbc.com/2024/06/10/wnba-reports-record-viewership-highest-game-attendance-years-caitlin-clark.html,2024-06-10T19:52:49+0000,"The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday.The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release. Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers.About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league. More than half those games were sold out.The WNBA attributed much of the growing fan engagement to its powerful rookie class. Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.The league also reported more diverse viewership. The number of people tuning in to games on TV grew 60% year over year among people of color. Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",CNBC,10/06/2024,"[""The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday."", ""The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release."", ""Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers."", 'About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league.', 'More than half those games were sold out.', 'The WNBA attributed much of the growing fan engagement to its powerful rookie class.', 'Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.', 'The league also reported more diverse viewership.', 'The number of people tuning in to games on TV grew 60% year over year among people of color.', 'Viewership in the first week of the season more than doubled for young girls and people under age 35.""We\'re encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.']",0.2499879106919789,"Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",,0.9979255497455596,The number of people tuning in to games on TV grew 60% year over year among people of color.,,2024-06-16 -Netflix hunts for a production partner for its Christmas NFL games,https://www.cnbc.com/2024/06/13/netflix-nfl-christmas-games-broadcast-partner.html,2024-06-13T19:57:54+0000,"In this articleNetflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier. The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment."" Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team. That's left the streamer looking for help.Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private. Disney won't produce the games because it already has college football obligations the same day, two of the people said.In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited.Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.There's also competition to consider.Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter. That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season.Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform. Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day. Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.For the NFL, Netflix represents the chance to reach a global, younger audience. There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games.The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.""Netflix and the league are looking to mirror the partnership that Amazon's Prime Video lined up with Comcast's NBC Sports for ""Thursday Night Football"" games.While NBC Sports' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.Netflix is interested in finding a similar partner, according to people familiar with its plans.If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers. Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple.""It's not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division.""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively. Alphabet's YouTube TV is also the new home of the ""Sunday Ticket"" package of games.Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming. NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.The league has been vocal in its push to add more streaming partners in an effort to widen its audience.That was the thinking behind the deal with Netflix to stream these Christmas Day games.When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.""I think that's best for consumers at this stage,"" Goodell said at the time.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,13/06/2024,"['In this articleNetflix is trying to get ready for some football.', 'The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter.', 'Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.', ""This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier."", 'The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment.""', ""Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team."", ""That's left the streamer looking for help."", ""Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private."", ""Disney won't produce the games because it already has college football obligations the same day, two of the people said."", ""In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited."", 'Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.', ""There's also competition to consider."", 'Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter.', ""That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season."", 'Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.', 'Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform.', ""Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day."", 'Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.', 'For the NFL, Netflix represents the chance to reach a global, younger audience.', ""There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games."", 'The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.', 'While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.', '""There aren\'t that many players in the space who are capable of doing this at a level that you would want to trust when you\'re launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.', '""Netflix and the league are looking to mirror the partnership that Amazon\'s Prime Video lined up with Comcast\'s NBC Sports for ""Thursday Night Football"" games.', 'While NBC Sports\' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.', 'Netflix is interested in finding a similar partner, according to people familiar with its plans.', ""If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers."", ""Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple."", '""It\'s not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""', ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division."", '""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.', 'Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.', 'Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.', 'Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively.', 'Alphabet\'s YouTube TV is also the new home of the ""Sunday Ticket"" package of games.', 'Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming.', 'NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.', 'The league has been vocal in its push to add more streaming partners in an effort to widen its audience.', 'That was the thinking behind the deal with Netflix to stream these Christmas Day games.', 'When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.', '""I think that\'s best for consumers at this stage,"" Goodell said at the time.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1863829998875434,"Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day.","Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.",0.6477434784173965,"NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.","""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.",2024-06-16 -Wizz Air ranked worst airline for delays for third year,https://www.bbc.co.uk/news/articles/clddx2q7y7go,2024-06-13T13:41:22.892Z,"Wizz Air has been named the worst airline for UK flight delays for the third year in a row. The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency. Turkish Airlines recorded the second worst punctuality followed by Tui. The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes. Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"". The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights. Cancelled flights were not included. After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds. Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"". She added that research by Which? showed the airline was also falling short on the quality of customer service experienced by passengers. ""Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive' prices across a variety of popular routes,"" she added. Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports. Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year. Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector. A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers."" Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry. He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK. Punctuality has ""continued to exponentially improve"" this year, he said. ",BBC,13/06/2024,"['Wizz Air has been named the worst airline for UK flight delays for the third year in a row.', ""The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency."", 'Turkish Airlines recorded the second worst punctuality followed by Tui.', 'The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes.', 'Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"".', 'The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights.', 'Cancelled flights were not included.', 'After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.', 'Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"".', 'She added that research by Which?', 'showed the airline was also falling short on the quality of customer service experienced by passengers. ""', 'Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive\' prices across a variety of popular routes,"" she added.', ""Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports."", 'Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year.', 'Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector.', 'A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""', 'Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""', 'Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry.', ""He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK."", 'Punctuality has ""continued to exponentially improve"" this year, he said.']",-0.0568331509592643,"Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""","After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.",-0.0617415785789489,"Punctuality has ""continued to exponentially improve"" this year, he said.",Wizz Air has been named the worst airline for UK flight delays for the third year in a row.,2024-06-16 -"Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair",https://www.cnbc.com/2024/06/10/southwest-luv-activist-elliott-stake.html,2024-06-10T20:05:51+0000,"In this articleActivist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals.Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday. Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet. Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation. Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said. Both executives started their Southwest careers in the 1980s. The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.Elliott in its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline.Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back. In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday. The company had a market capitalization of $16.6 billion as of Friday's close.Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other. But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.Elliott dismissed Southwest's upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline's leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.""Southwest's leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""A good retailer ... is always going to find ways to sell its customers more products.""Elliott said it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation. The activist also said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.Southwest isn't the only carrier facing activist pressure. Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.Elliott's campaigns at other companies have likewise centered on a change in leadership. Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances.In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American. Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.",CNBC,10/06/2024,"['In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.', 'Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday.', 'Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.', ""The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet."", 'Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.', 'The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation.', 'Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said.', 'Both executives started their Southwest careers in the 1980s.', 'The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.', ""Elliottin its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline."", 'Southwest said in a statement that its board ""is confident in our CEO and management\'s ability to execute against the company\'s strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.', '""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.', '""Southwest shares are down by more than 50% as of Friday\'s close from three years ago, when travel demand, led by domestic trips, was starting to come back.', 'In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.', ""The company had a market capitalization of $16.6 billion as of Friday's close."", 'Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other.', 'But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.', 'Elliott dismissed Southwest\'s upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline\'s leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.', '""Southwest\'s leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.', 'Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.', '""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""', 'A good retailer ... is always going to find ways to sell its customers more products.', '""Elliottsaid it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation.', 'Theactivistalso said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.', 'Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.', 'The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.', ""Southwest isn't the only carrier facing activist pressure."", 'Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.', ""Elliott's campaigns at other companies have likewise centered on a change in leadership."", ""Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances."", 'In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American.', ""Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.""]",0.2267985447349857,"Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.",In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.,0.2264580543224628,"In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.","""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back.",2024-06-16 -Delta to launch premium economy service on NYC-LA flights in air travel upsell race,https://www.cnbc.com/2024/06/10/delta-premium-economy-nyc-la.html,2024-06-10T18:56:02+0000,"In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights. It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips. JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin. Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s. Delta said it plans to expand service later this year.Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket. The seats were sold as extra legroom tickets, which are a rung below premium economy.Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.",CNBC,10/06/2024,"['In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.', 'Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights.', 'It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.', 'Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.', 'JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin.', 'Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.', ""Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion."", ""The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s."", 'Delta said it plans to expand service later this year.', 'Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.', 'Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.', ""Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket."", 'The seats were sold as extra legroom tickets, which are a rung below premium economy.', ""Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.""]",0.2113299976676102,"Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.",,0.2140295982360839,"Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.","Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.",2024-06-16 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-06-16 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-06-16 -Here’s how to invest in stocks when interest rates are higher for longer,https://edition.cnn.com/2024/06/14/investing/premarket-stocks-trading-higher-longer-rates/index.html," - Published - 7:49 AM EDT, Fri June 14, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - At least one interest rate cut is still on the table for 2024, but in the short term, higher US borrowing costs are here to stay. - - The Federal Reserve on Wednesday held rates steady for the seventh consecutive time and penciled in just one cut this year, down from the three it first projected last December. - - Recent economic data has encouraged investors that inflation is cooling again after showing signs of sticking earlier this year. The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs. - - Still, traders are widely expecting the central bank to keep rates where they are again in July. If the Fed does indeed hold off on changes, interest rates will stay at their current 23-year high until at least September. - - How should traders invest in a higher-for-longer rate environment? Before the Bell spoke with Wylie Tollette, chief investment officer at Franklin Templeton Investment Solutions. - - This interview has been edited for length and clarity. - - Before the Bell: What do higher-for-longer rates mean for the stock market? - - The stock market is always forward-looking, and I think the market may have already priced in the fewer rate cuts [before the Fed meeting]. As we’ve seen throughout the year, the expectation for rate cuts has been steadily declining. - - What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates. I think that we expected, consistent with most financial economists and investors, higher rates to really begin biting the economy more quickly and more significantly last year. - - As it turns out, I think our new hypothesis, based on everything we’ve seen, is that these higher-for-longer rates are really just a return to a more normal rate environment, sort of a pre-global financial crisis rate environment. - - Which stocks could perform poorly due to higher-for-longer rates? - - There will be some sectors that higher-for-longer rates will impact. And we’ve already seen some of them. For example, real estate. Most real estate is financed. Commercial real estate in particular, offices and retail, I think will continue to suffer. We’ve seen that already, and I think there’s probably still some more pain to come. - - Another area like cars, the big purchases that many consumers finance. Obviously, higher-for-longer rates makes that financing more expensive. And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment. - - In general, smaller-cap stocks, most regardless of sector, will probably have a harder time in this environment right now. - - What about stocks that could perform well in a higher-rate environment? - - Semiconductors, those we think will continue to do well. They’ve almost become the new defensives because they have so much cash on their balance sheet. They don’t rely on financing to finance their internal growth and investment, and their demand cycles aren’t terribly sensitive to higher interest rates. And we’ve seen that already priced into a lot of Big Tech. The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates. - - Energy and materials traditionally do reasonably well in higher-for-longer rates. - - We’ve seen utilities rally. We actually think that could continue. There’s just a lot of demand for electricity with electric vehicles and artificial intelligence. We see utilities needing to increase supply and really being under pressure to do that, which provides an interesting and perhaps a rare opportunity to actually benefit and see some real growth in the utility sector. - - Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement — and the economy, according to a new report released this week. - - Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP, reports my colleague Jeanne Sahadi. - - The report includes findings from its latest annual World Poll, which surveyed 128,278 employees in more than 140 countries last year. - - That poll found that roughly 20% of workers globally reported feeling lonely, angry or sad on a daily basis. And 41% on average say they feel stress. - - Those most likely to say they feel lonely were younger workers (22%), employees who worked remotely full-time (25%) and those who felt most disengaged on the job (31%). - - While work isn’t always the cause of a person’s negative daily emotions, employers should still be concerned. That’s because work can either improve or worsen employees’ well-being. - - On the one hand, the Gallup report noted, “when employees find their work and work relationships meaningful, employment is associated with high levels of daily enjoyment and low levels of all negative daily emotions. Notably, half of employees who are engaged at work are thriving in life overall.” - - On the other, researchers found that being disengaged at work can negatively affect a person’s wellbeing as much as — or more than — not having a job at all. “Employees who dislike their jobs tend to have high levels of daily stress and worry, as well as elevated levels of all other negative emotions,” they wrote. “On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.” - - Read more here. - - Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing. - - Apple’s market cap closed at roughly $3.29 trillion on Thursday, above Microsoft’s $3.28 trillion. Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week. Microsoft shares rose 0.1% on Thursday. - - The iPhone maker’s comeback comes just a week after Nvidia on June 5 surpassed it to become the second-largest public US company. Nvidia now ranks third, behind Microsoft. - - Read more here.",CNN,14/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'At least one interest rate cut is still on the table for 2024, but in the short term, higher US borrowing costs are here to stay.', 'The Federal Reserve on Wednesday held rates steady for the seventh consecutive time and penciled in just one cut this year, down from the three it first projected last December.', 'Recent economic data has encouraged investors that inflation is cooling again after showing signs of sticking earlier this year.', 'The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs.', 'Still, traders are widely expecting the central bank to keep rates where they are again in July.', 'If the Fed does indeed hold off on changes, interest rates will stay at their current 23-year high until at least September.', 'How should traders invest in a higher-for-longer rate environment?', 'Before the Bell spoke with Wylie Tollette, chief investment officer at Franklin Templeton Investment Solutions.', 'This interview has been edited for length and clarity.', 'Before the Bell: What do higher-for-longer rates mean for the stock market?', 'The stock market is always forward-looking, and I think the market may have already priced in the fewer rate cuts [before the Fed meeting].', 'As we’ve seen throughout the year, the expectation for rate cuts has been steadily declining.', 'What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates.', 'I think that we expected, consistent with most financial economists and investors, higher rates to really begin biting the economy more quickly and more significantly last year.', 'As it turns out, I think our new hypothesis, based on everything we’ve seen, is that these higher-for-longer rates are really just a return to a more normal rate environment, sort of a pre-global financial crisis rate environment.', 'Which stocks could perform poorly due to higher-for-longer rates?', 'There will be some sectors that higher-for-longer rates will impact.', 'And we’ve already seen some of them.', 'For example, real estate.', 'Most real estate is financed.', 'Commercial real estate in particular, offices and retail, I think will continue to suffer.', 'We’ve seen that already, and I think there’s probably still some more pain to come.', 'Another area like cars, the big purchases that many consumers finance.', 'Obviously, higher-for-longer rates makes that financing more expensive.', 'And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment.', 'In general, smaller-cap stocks, most regardless of sector, will probably have a harder time in this environment right now.', 'What about stocks that could perform well in a higher-rate environment?', 'Semiconductors, those we think will continue to do well.', 'They’ve almost become the new defensives because they have so much cash on their balance sheet.', 'They don’t rely on financing to finance their internal growth and investment, and their demand cycles aren’t terribly sensitive to higher interest rates.', 'And we’ve seen that already priced into a lot of Big Tech.', 'The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates.', 'Energy and materials traditionally do reasonably well in higher-for-longer rates.', 'We’ve seen utilities rally.', 'We actually think that could continue.', 'There’s just a lot of demand for electricity with electric vehicles and artificial intelligence.', 'We see utilities needing to increase supply and really being under pressure to do that, which provides an interesting and perhaps a rare opportunity to actually benefit and see some real growth in the utility sector.', 'Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement — and the economy, according to a new report released this week.', 'Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP, reports my colleague Jeanne Sahadi.', 'The report includes findings from its latest annual World Poll, which surveyed 128,278 employees in more than 140 countries last year.', 'That poll found that roughly 20% of workers globally reported feeling lonely, angry or sad on a daily basis.', 'And 41% on average say they feel stress.', 'Those most likely to say they feel lonely were younger workers (22%), employees who worked remotely full-time (25%) and those who felt most disengaged on the job (31%).', 'While work isn’t always the cause of a person’s negative daily emotions, employers should still be concerned.', 'That’s because work can either improve or worsen employees’ well-being.', 'On the one hand, the Gallup report noted, “when employees find their work and work relationships meaningful, employment is associated with high levels of daily enjoyment and low levels of all negative daily emotions.', 'Notably, half of employees who are engaged at work are thriving in life overall.”', 'On the other, researchers found that being disengaged at work can negatively affect a person’s wellbeing as much as — or more than — not having a job at all. “', 'Employees who dislike their jobs tend to have high levels of daily stress and worry, as well as elevated levels of all other negative emotions,” they wrote. “', 'On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.”', 'Read more here.', 'Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing.', 'Apple’s market cap closed at roughly $3.29 trillion on Thursday, above Microsoft’s $3.28 trillion.', 'Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week.', 'Microsoft shares rose 0.1% on Thursday.', 'The iPhone maker’s comeback comes just a week afterNvidia on June 5 surpassed itto become the second-largest public US company.', 'Nvidia now ranks third, behind Microsoft.', 'Read more here.']",0.0208692851665589,"The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates.","On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.”",0.0201159505283131,Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week.,"The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs.",2024-06-16 -Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?,https://edition.cnn.com/2024/06/15/business/why-do-small-trader-joes-bags-keep-going-viral/index.html," - Published - 3:00 AM EDT, Sat June 15, 2024 - ","A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag. Right away, he was on the lookout. When he went to London on a trip, he even deputized his mom to keep an eye out for the bags. - - After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding. Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack). Others may not be so lucky. The mini-coolers have already been listed for several times that price on eBay. - - Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral. They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire. - - Before social media, it took a lot more for a niche item to hit. “You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school. But now “you can have it all happen instantly across the whole country.” - - This isn’t even the first time little Trader Joe’s bags have gone viral. In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out. - - Most brands don’t see their products take off this way, especially not twice in a row. On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun. - - But Trader Joe doesn’t have much of a social media presence. The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items — which may well have been popular on their own — even more successful. These creators are playing a key role in the worlds of retail marketing. - - Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative. Her channels are popular enough for her to earn payment from TikTok. - - She’s not the only one posting this type of content. Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores. It had more than 54,000 followers on the social platform on Friday. Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings. - - Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity. - - “What is up with these tote bags? Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said. - - “We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “We had no inkling that they would be this exciting, this quickly, for so many customers. We had actually hundreds of thousands of bags come in and go out within a week.” - - This time, with the brightly colored coolers, the brand seemed more prepared. “Consider yourself fairly warned: these Totes are totally destined to become the next craze!” screams a product description on the grocery chain’s site. - - Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items. A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer. - - If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items. Some people might just decide to pick one up on their next grocery trip because they saw it online. Others may seek the item out specifically, rushing to stores before they sell out. - - “When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.” - - That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted. - - “You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said. Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public. - - These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added. - - For some, the treasure hunt aspect may be part of the fun — especially when it ends not only with the coveted item, but a chance to post evidence of success online. - - Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett. His videos on Instagram and TikTok are mostly devoted to pop culture and Disney. But he likes the chain, and he likes to post about what he buys there. - - “You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “It’s always a surprise.” - - The chain’s unusually loyal fanbase is eager for more Trader Joe���s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. - - “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said. That’s why, she thinks, the branded bags have been such a hit. “People want a little piece of Trader Joe’s to carry around with them.”",CNN,15/06/2024,"['A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag.', 'Right away, he was on the lookout.', 'When he went to London on a trip, he even deputized his mom to keep an eye out for the bags.', 'After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding.', 'Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack).', 'Others may not be so lucky.', 'The mini-coolers have already been listed for several times that price on eBay.', 'Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral.', 'They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire.', 'Before social media, it took a lot more for a niche item to hit. “', 'You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school.', 'But now “you can have it all happen instantly across the whole country.”', 'This isn’t even the first time little Trader Joe’s bags have gone viral.', 'In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out.', 'Most brands don’t see their products take off this way, especially not twice in a row.', 'On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun.', 'But Trader Joe doesn’t have much of a social media presence.', 'The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.', 'These creators are playing a key role in the worlds of retail marketing.', 'Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday.', 'Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said.', 'Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative.', 'Her channels are popular enough for her to earn payment from TikTok.', 'She’s not the only one posting this type of content.', 'Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores.', 'It had more than 54,000 followers on the social platform on Friday.', 'Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings.', 'Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.', '“What is up with these tote bags?', 'Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “', 'I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said.', '“We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “', 'We had no inkling that they would be this exciting, this quickly, for so many customers.', 'We had actually hundreds of thousands of bags come in and go out within a week.”', 'This time, with the brightly colored coolers, the brand seemed more prepared. “', 'Consider yourself fairly warned: these Totes are totally destined to become the next craze!”', 'screams a product description on the grocery chain’s site.', 'Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items.', 'A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer.', 'If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items.', 'Some people might just decide to pick one up on their next grocery trip because they saw it online.', 'Others may seek the item out specifically, rushing to stores before they sell out.', '“When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.”', 'That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted.', '“You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said.', 'Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public.', 'These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added.', 'For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.', 'Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett.', 'His videos on Instagram and TikTok are mostly devoted to pop culture and Disney.', 'But he likes the chain, and he likes to post about what he buys there.', '“You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “', 'It’s always a surprise.”', 'The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that.', '“You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.', 'That’s why, she thinks, the branded bags have been such a hit. “', 'People want a little piece of Trader Joe’s to carry around with them.”']",0.1861896278490253,"For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.",Consider yourself fairly warned: these Totes are totally destined to become the next craze!”,0.7747427523136139,"The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.","Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.",2024-06-16 -Elon Musk wins record-breaking Tesla pay deal from shareholders,https://www.bbc.co.uk/news/articles/cleezyxjv4jo,2024-06-13T04:18:36.115Z,"Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas. The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders. The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price. ""Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting. The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package. However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.” The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk. In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"". Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"". She also highlighted Todd Maron, Tesla's former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"". Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal. The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure. But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base. The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""It's a pretty ringing endorsement,"" said car industry analyst Karl Brauer. Mr Musk got more than enough shareholder support ""to justify the package,"" he added. Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter. Shares in the company closed up nearly 3% after Mr Musk's announcement. The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price. Tesla had said that Mr Musk's goals were challenging. However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""My understanding is that there's been about 1,100% appreciation in Tesla stock. And that's pretty, pretty impressive. Most chief executives have never done anything like that,"" said Mr Brauer. On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC's Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""That’s a very, very good return,"" he said. Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000. Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company. Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said. Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success. Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes. Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk. ",BBC,13/06/2024,"[""Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas."", 'The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.', 'The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn).', 'The exact amount depends on the Tesla share price. ""', 'Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm\'s annual meeting.', ""The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package."", 'However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""', 'The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""', 'It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “', 'It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.”', 'The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk.', 'In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".', 'Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"".', 'She also highlighted Todd Maron, Tesla\'s former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"".', ""Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal."", ""The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure."", ""But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base."", 'The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""', 'It\'s a pretty ringing endorsement,"" said car industry analyst Karl Brauer.', 'Mr Musk got more than enough shareholder support ""to justify the package,"" he added.', 'Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter.', ""Shares in the company closed up nearly 3% after Mr Musk's announcement."", 'The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.', ""Tesla had said that Mr Musk's goals were challenging."", 'However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""', ""My understanding is that there's been about 1,100% appreciation in Tesla stock."", ""And that's pretty, pretty impressive."", 'Most chief executives have never done anything like that,"" said Mr Brauer.', 'On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC\'s Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""', 'That’s a very, very good return,"" he said.', 'Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000.', ""Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company."", 'Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said.', ""Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success."", ""Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes."", ""Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk.""]",0.269444758336889,"The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.","In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".",0.4500754390444074,"But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base.","The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure.",2024-06-16 -Boeing investigated after 'Dutch roll',https://www.bbc.co.uk/news/articles/c722j0rryrxo,2024-06-14T17:02:52.917Z,"US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll. It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed. The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes. The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny. Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation. Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers. It said tests performed so far indicate that the correct alloy was used, despite the false documentation. The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely,” the company said. The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion. Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""The problem is we've lost traceability."" The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue. Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"". The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California. The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage. A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics. The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant. Safety campaigners have raised alarm about the quality of recent planes produced by Boeing. An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing. Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues. Theo Leggett contributed to this article. ",BBC,14/06/2024,"['US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll.', 'It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed.', 'The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes.', 'The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny.', 'Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation.', 'Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers.', 'It said tests performed so far indicate that the correct alloy was used, despite the false documentation.', 'The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""', 'To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely,” the company said.', 'The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion.', 'Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""', 'It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""', 'The problem is we\'ve lost traceability.""', 'The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue.', 'Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".', 'The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California.', 'The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.', 'A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""', 'Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics.', 'The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant.', 'Safety campaigners have raised alarm about the quality of recent planes produced by Boeing.', 'An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing.', 'Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues.', 'Theo Leggett contributed to this article.']",-0.0417885997781969,"Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".","The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.",-0.7044290815080915,"Our analysis shows the in-service fleet can continue to fly safely,” the company said.","The problem is we've lost traceability.""",2024-06-16 -"Barclays suspends sponsorship of Download, Latitude and Isle Of Wight festivals",https://www.bbc.co.uk/news/articles/crgg13nn0kgo,2024-06-14T15:37:14.843Z,"Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight. The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel. Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer. A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals."" The bank signed a five-year sponsorship deal with Live Nation in 2023. It is understood that the suspension does not apply to the full term of the contract. Mercury-nominated band Lankum, who are on the line-up for Suffolk's Latitude festival in July, were among the first to respond to the announcement. ""We welcome the news,"" they said on Instagram. ""Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""Standing together is the best foot forward."" The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays. Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza. A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid. The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe."" They added that the protests had led to intimidation of staff and vandalism of their branches. ""The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""It is time that leaders across politics, business, academia and the arts stand united against this."" A number of bands pulled out of this weekend's Download festival at Donington Park in Leicestershire. ""We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram. The bands Speed, Scowl, Zulu and Ithaca also joined the boycott. The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate. This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent."" Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"". Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent. British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"". Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee."" Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza. However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"". That includes companies ""that supply defence products to Nato and other allies including Ukraine"". It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments. Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard."" ",BBC,14/06/2024,"['Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight.', ""The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel."", 'Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer.', 'A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals.""', 'The bank signed a five-year sponsorship deal with Live Nation in 2023.', 'It is understood that the suspension does not apply to the full term of the contract.', 'Mercury-nominated band Lankum, who are on the line-up for Suffolk\'s Latitude festival in July, were among the first to respond to the announcement. ""', 'We welcome the news,"" they said on Instagram. ""', 'Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""', 'Standing together is the best foot forward.""', ""The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays."", 'Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza.', 'A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""', 'Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid.', 'The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe.""', 'They added that the protests had led to intimidation of staff and vandalism of their branches. ""', 'The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""', 'It is time that leaders across politics, business, academia and the arts stand united against this.""', 'A number of bands pulled out of this weekend\'s Download festival at Donington Park in Leicestershire. ""', 'We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram.', 'The bands Speed, Scowl, Zulu and Ithaca also joined the boycott.', 'The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate.', 'This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent.""', 'Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"".', ""Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent."", 'British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".', 'Fellow comedian Grace Campbell, the daughter of Sir Tony Blair\'s former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can\'t in good conscience take the fee.""', 'Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza.', 'However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"".', 'That includes companies ""that supply defence products to Nato and other allies including Ukraine"".', 'It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments.', 'Protest group Bands Boycott Barclays called the bank\'s decision to suspend its ties with the festivals a ""victory"". ""', 'As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""', 'Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard.""']",0.156580498070319,"Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee.""","British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".",-0.4070264975229899,"Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""","The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. """,2024-06-16 -Washington Post CEO Will Lewis’ status ‘increasingly untenable’ as newsgathering controversies mount,https://edition.cnn.com/2024/06/16/media/washington-post-will-lewis-phone-hacking/index.html," - Updated - 11:27 PM EDT, Sun June 16, 2024 - ","A report from the New York Times on Saturday alleges Will Lewis, the Washington Post’s embattled new publisher and chief executive, used fraudulent and unethical methods to obtain information for articles while working at the London-based Sunday Times in the early 2000s. - - Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were “fraudulently obtained” through hacking and paying sources for information. - - Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country. Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening. Margaret Sullivan, executive director of the Craig Newmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.” - - These latest allegations of questionable journalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor, Sally Buzbee. The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism. - - Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November. TThe Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnett then used in his journalism. - - In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly. Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage. The publisher has no involvement in or influence on our reporting.” - - Winnett did not immediately respond to a CNN query via LinkedIn. - - The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standards are recognized in many newsrooms, warns journalists in its Code of Ethics: “Do not pay for access to news.” - - While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance of undue intrusiveness.” - - The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing. Lewis has previously said his role in the scandal consisted of rooting out problematic behavior. - - A spokesperson for the Washington Post told CNN Lewis declined to comment. - - A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.” - - The decade-old scandal engulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in a new lawsuit filed by Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant. At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation. - - But a cascade of claims has followed Lewis in recent weeks, mostly involving alleged attempts to suppress stories about his connection with the coverup. Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed with Buzbee over publishing an article in May that named him in connection to the scandal, although a spokesperson for Lewis has denied he pressured Buzbee to quash the article, according to NPR. - - Buzbee abruptly left the company earlier this month. Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal. - - The Washington Post did not respond to CNN with regard to these allegations. - - A spokesperson for Lewis told the New York Times earlier this month when the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.” The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.” - - Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further. A number of Post staffers who spoke to CNN have described plummeting morale. “It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented. - - In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make. Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added. - - Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.” He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.",CNN,16/06/2024,"['A report from the New York Times on Saturday allegesWill Lewis, the Washington Post’s embattled new publisher and chief executive,used fraudulent and unethical methodsto obtain information for articles while working at the London-based Sunday Timesin the early 2000s.', 'Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were“fraudulently obtained”through hacking and paying sources for information.', 'Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country.', 'Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening.', 'Margaret Sullivan, executive director of the CraigNewmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.”', 'These latest allegations ofquestionablejournalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor,Sally Buzbee.', 'The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism.', 'Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November.', 'TThe Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnettthen used in his journalism.', 'In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly.', 'Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage.', 'The publisher has no involvement in or influence on our reporting.”', 'Winnett did not immediately respond to a CNN query via LinkedIn.', 'The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standardsare recognized inmany newsrooms, warns journalists in itsCode of Ethics: “Do not pay for access to news.”', 'While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance ofundue intrusiveness.”', 'The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.', 'Lewis haspreviously saidhis role in the scandal consisted of rooting out problematic behavior.', 'A spokesperson for the Washington Post told CNN Lewis declined to comment.', 'A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”', 'Thedecade-old scandalengulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in anew lawsuit filedby Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant.', 'At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation.', 'But a cascade of claims has followed Lewis in recent weeks, mostly involvingalleged attempts to suppress stories about his connection with the coverup.', 'Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed withBuzbeeover publishing an article in May that named him in connection to the scandal,although aspokesperson for Lewis has denied he pressured Buzbeeto quash the article, according to NPR.', 'Buzbee abruptly left the company earlier this month.', 'Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal.', 'The Washington Post did not respond to CNN with regard to these allegations.', 'A spokesperson for Lewistold the New York Times earlier this monthwhen the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.”', 'The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.”', 'Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further.', 'A number of Post staffers who spoke to CNN have described plummeting morale. “', 'It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented.', 'In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.', 'Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added.', 'Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.”', 'He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.']",-0.0882405686082717,"A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”","The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.",-0.4013231217861175,"In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.",A number of Post staffers who spoke to CNN have described plummeting morale. “,2024-06-16 -National Insurance calculator: What are NI and income tax and what do I pay?,https://www.bbc.co.uk/news/explainers-63635185,2022-11-15T17:40:23.000Z,"The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election. Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen. The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected. The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029. The party says it will scrap NI completely when it is ""affordable to do so"". The Tories had already said they will increase the tax-free personal allowance for pensioners. All other thresholds would remain frozen until 2028. The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT. They had already said they would not cut NI either, because ""the money simply isn't there"". The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028. The Liberal Democrat manifesto says the party's priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"". The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%. It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn. The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April. The government said that the two cuts were worth about £900 a year for a worker earning £35,000. For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200. Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions. The NI rate on income and profits above £50,270 remains at 2% for all workers. The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS. NI rates apply across the UK. You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year. It is not paid by people over the state pension age, even if they are working. Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life. The government records how many years of contributions you have made. Paying a lower rate of NI does not mean you contribute less. If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits. You can also make voluntary contributions to plug gaps in your record. Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds. These are the income levels at which people start paying NI or income tax, or have to pay higher rates. These used to rise every year in line with inflation. However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028. Higher-rate tax will continue to kick in for earnings above £50,270. Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates. It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans. According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers. In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off. But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off. Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year. Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits. The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270. The higher rate is 40%, and is paid on earnings between £50,271 and £125,140. Once you earn more than £100,000, you also start losing your tax-free personal allowance. You lose £1 of your personal allowance for every £2 that your income goes above £100,000. Anyone earning more than £125,140 a year no longer has any tax-free personal allowance. The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year. These apply in England, Wales and Northern Ireland. Some income tax rates are different in Scotland. In Scotland a new 45% band took effect in April. The top rate also rose from 47% to 48%. For most families, income tax is the single biggest tax they pay. But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes. For the poorest fifth of households, VAT is the biggest single tax paid. You can look at the amount of tax raised as a proportion of the size of the economy, or GDP. In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%. That puts the UK right in the middle of the G7 group of big economies. France, Italy and Germany tax more; Canada, Japan and the US tax less. However, overall taxation in the UK is high compared with historical rates. In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29. That would be the highest level in 80 years. ",BBC,15/11/2022,"['The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election.', 'Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen.', 'The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected.', 'The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029.', 'The party says it will scrap NI completely when it is ""affordable to do so"".', 'The Tories had already said they will increase the tax-free personal allowance for pensioners.', 'All other thresholds would remain frozen until 2028.', 'The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT.', 'They had already said they would not cut NI either, because ""the money simply isn\'t there"".', 'The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028.', 'The Liberal Democrat manifesto says the party\'s priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"".', 'The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%.', 'It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn.', 'The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April.', 'The government said that the two cuts were worth about £900 a year for a worker earning £35,000.', 'For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.', 'Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions.', 'The NI rate on income and profits above £50,270 remains at 2% for all workers.', 'The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS.', 'NI rates apply across the UK.', 'You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year.', 'It is not paid by people over the state pension age, even if they are working.', 'Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life.', 'The government records how many years of contributions you have made.', 'Paying a lower rate of NI does not mean you contribute less.', 'If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits.', 'You can also make voluntary contributions to plug gaps in your record.', 'Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds.', 'These are the income levels at which people start paying NI or income tax, or have to pay higher rates.', 'These used to rise every year in line with inflation.', 'However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028.', 'Higher-rate tax will continue to kick in for earnings above £50,270.', 'Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates.', ""It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans."", 'According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers.', 'In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off.', 'But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.', 'Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year.', 'Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits.', 'The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270.', 'The higher rate is 40%, and is paid on earnings between £50,271 and £125,140.', 'Once you earn more than £100,000, you also start losing your tax-free personal allowance.', 'You lose £1 of your personal allowance for every £2 that your income goes above £100,000.', 'Anyone earning more than £125,140 a year no longer has any tax-free personal allowance.', 'The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year.', 'These apply in England, Wales and Northern Ireland.', 'Some income tax rates are different in Scotland.', 'In Scotland a new 45% band took effect in April.', 'The top rate also rose from 47% to 48%.', 'For most families, income tax is the single biggest tax they pay.', 'But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes.', 'For the poorest fifth of households, VAT is the biggest single tax paid.', 'You can look at the amount of tax raised as a proportion of the size of the economy, or GDP.', 'In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%.', 'That puts the UK right in the middle of the G7 group of big economies.', 'France, Italy and Germany tax more; Canada, Japan and the US tax less.', 'However, overall taxation in the UK is high compared with historical rates.', 'In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29.', 'That would be the highest level in 80 years.']",0.161418970260656,"But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.","For the poorest fifth of households, VAT is the biggest single tax paid.",0.0086431754262823,The top rate also rose from 47% to 48%.,"For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.",2024-06-16 -Why Shari Redstone called off talks with David Ellison’s Skydance on Paramount deal,https://edition.cnn.com/2024/06/12/media/shari-redstone-david-ellison-skydance-paramount-deal/index.html," - Published - 8:22 AM EDT, Wed June 12, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - Shari Redstone has finally spoken. - - After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress called off talks with David Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire. - - The deal went up in flames at the one-yard line. Just as Paramount’s special committee was set to vote on the deal, lawyers representing the Redstone holding company National Amusements Inc. sent word that she had moved to end merger discussions, CNN was told. - - Why Redstone ultimately vetoed the deal is now up for discussion. Was Redstone irked by the latest financials of the offer? Was she afraid of shareholder litigation? Is legacy at play? Or is it simply that Redstone just cannot let go of the empire her father, Sumner, built? - - The answer, of course, depends — greatly — on who you ask. - - One narrative that has emerged is that, while the two parties had agreed on the economic terms, there were still outstanding issues they had not been able to see eye-to-eye on. Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders. Redstone had advocated for a vote to protect against potential lawsuits; Skydance resisted. - - “That was an important term,” a person close to the matter told CNN. - - The competing narrative is that Skydance had made a competitive offer. Ellison and his backers, led by Redbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations. In this version of events, the real reason a transaction is not taking place is because Redstone, advised by Ellison foe Charles Phillips, simply got cold feet. - - “Shari got spooked,” as one person bluntly told CNN. - - Regardless of the cause, the deal is not happening — and squabbling about the reason it could not get across the finish line does not change that reality. Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work. - - And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way. Over the course of the last few months, Bob Bakish was ousted as chief executive of Paramount Global and four directors resigned from the company’s board. The corporate drama, as many observers have pointed out, has been akin to a real-life “Succession.” - - NAI, which has received interest from other parties and will now explore them, offered support Tuesday afternoon for the Office of the CEO at Paramount Global, the post-Bakish triumvirate made up of Brian Robbins, George Cheeks and Chris McCarthy. The trio last week outlined a plan for the company, which includes exploring a joint streaming venture, finding synergies, and reducing costs by $500 million. - - “NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement. - - NAI also said it “looks forward to the ongoing, successful production collaboration between Paramount and Skydance.” The two companies have in recent years partnered for blockbusters such as “Top Gun” and “Mission Impossible.” - - “At this point, there was an unbelievable amount of uncertainty hanging over the company,” one of the people said of Paramount. “They want the company to be able to move forward.”",CNN,12/06/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Shari Redstonehasfinallyspoken.', 'After weeks of endless speculation about the future ofParamount Global, and more than half a year of grueling negotiations, the heiress called off talks withDavid Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire.', 'The deal went up in flames at the one-yard line.', 'Just as Paramount’s special committee was set to vote on the deal, lawyers representing the Redstone holding companyNational Amusements Inc.sent word that she had moved to end merger discussions, CNN was told.', 'Why Redstone ultimately vetoed the deal is now up for discussion.', 'Was Redstone irked by the latest financials of the offer?', 'Was she afraid of shareholder litigation?', 'Is legacy at play?', 'Or is it simply that Redstone just cannot let go of the empire her father,Sumner, built?', 'The answer, of course, depends —greatly— on who you ask.', 'One narrative that has emerged is that, while the two parties had agreed on the economic terms, there were still outstanding issues they had not been able to see eye-to-eye on.', 'Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders.', 'Redstone had advocated for a vote to protect against potential lawsuits; Skydance resisted.', '“That was an important term,” a person close to the matter told CNN.', 'The competing narrative is that Skydance had made a competitive offer.', 'Ellison and his backers, led byRedbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations.', 'In this version of events, the real reason a transaction is not taking place is because Redstone, advised by Ellison foeCharles Phillips, simply got cold feet.', '“Shari got spooked,” as one person bluntly told CNN.', 'Regardless of the cause, the deal is not happening — and squabbling about the reason it could not get across the finish line does not change that reality.', 'Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.', 'And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way.', 'Over the course of the last few months,Bob Bakishwas ousted as chief executive of Paramount Global and four directors resigned from the company’s board.', 'The corporate drama, as many observers have pointed out, has been akin to a real-life“Succession.”', 'NAI, which has received interest from other parties and will now explore them, offered support Tuesday afternoon for the Office of the CEOat Paramount Global, the post-Bakish triumvirate made up ofBrian Robbins,George Cheeks andChris McCarthy.', 'The trio last week outlined a plan for the company, which includes exploring a joint streaming venture, finding synergies, and reducing costs by $500 million.', '“NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement.', 'NAI also said it “looks forward to the ongoing, successful production collaboration between Paramount and Skydance.”', 'The two companies have in recent years partnered for blockbusters such as“Top Gun”and“Mission Impossible.”', '“At this point, there was an unbelievable amount of uncertainty hanging over the company,” one of the people said of Paramount. “', 'They want the company to be able to move forward.”']",0.125492508140569,"“NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement.","Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.",0.09910465662296,"Ellison and his backers, led byRedbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations.","Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.",2024-06-16 -US Fed pencils in one interest rate cut this year,https://www.bbc.co.uk/news/articles/c1ddj7v9y97o,2024-06-12T12:51:34.244Z,"The US Federal Reserve has signalled that it will cut its key interest rate just once this year despite inflation easing. Back in March, the central bank had been expected to reduce borrowing costs three times by the end of 2024. However, on Wednesday, new forecasts from Fed officials who make decisions on rates pencilled in a single reduction. The new outlook emerged after the Fed voted to hold interest rates at their current 23-year high even as inflation ticked lower. Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May. That compares with 3.4% in the 12 months to April. However, between April and May inflation was unchanged and it remains above the Fed's 2% target. Jerome Powell, chair of the Federal Reserve, said that only ""modest"" progress had been made on hitting the target and the central bank would need to see ""good inflation readings"" before interest rates can be cut. US interest rates were held at 5.25%-5.5%. Anastassia Fedyk, assistant professor of finance at Haas Business School at the University of California Berkeley, told the BBC's Today programme: ""We did get some good news in terms of better inflation numbers. ""But the Fed is still being pretty cautious so they are signalling that in the future they are going to be doing one, most likely, rate drop and not a very large one at that."" Some analysts suggested that the central bank would backtrack on the number of interest rate cuts this year. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that reducing forecasts of interest rate cuts from three to one this year was ""unnecessarily aggressive"". While economists at Wells Fargo said it would be a ""close call"" between making one or two reductions in 2024. Officials at the US Fed were split over how many interest rate cuts they expected this year. Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two. Forecasts from the US Fed signalled one modest cut to 5%-5.25%. Mr Powell acknowledged that a reduction of this size would not have a major impact on the US economy. But he said when a cut finally does come it would be “a consequential decision for the economy” which “you want to get right"". While inflation eased a little, the US employment market remains robust. Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected. Ms Fedyk said: ""The Fed is trying to react to the data but not overreact to the data."" Some other major economies have cut interest rates, including the European Central Bank and the Bank of Canada. But the US - and the UK - are yet to make a similar move. The Bank of England will meet next week and is widely expected to hold interest rates at 5.25%, their highest level for 16 years. The Consumer Prices Index (CPI) measure of inflation has slowed significantly in the UK from a high of 11.1% in October 2022 to 2.3% currently. However, some elements of inflation remain stubbornly high. At the same time, average wage growth in the UK remains strong compared to inflation. Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress."" ",BBC,12/06/2024,"['The US Federal Reserve has signalled that it will cut its key interest rate just once this year despite inflation easing.', 'Back in March, the central bank had been expected to reduce borrowing costs three times by the end of 2024.', 'However, on Wednesday, new forecasts from Fed officials who make decisions on rates pencilled in a single reduction.', 'The new outlook emerged after the Fed voted to hold interest rates at their current 23-year high even as inflation ticked lower.', 'Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May.', 'That compares with 3.4% in the 12 months to April.', ""However, between April and May inflation was unchanged and it remains above the Fed's 2% target."", 'Jerome Powell, chair of the Federal Reserve, said that only ""modest"" progress had been made on hitting the target and the central bank would need to see ""good inflation readings"" before interest rates can be cut.', 'US interest rates were held at 5.25%-5.5%.', 'Anastassia Fedyk, assistant professor of finance at Haas Business School at the University of California Berkeley, told the BBC\'s Today programme: ""We did get some good news in terms of better inflation numbers. ""', 'But the Fed is still being pretty cautious so they are signalling that in the future they are going to be doing one, most likely, rate drop and not a very large one at that.""', 'Some analysts suggested that the central bank would backtrack on the number of interest rate cuts this year.', 'Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that reducing forecasts of interest rate cuts from three to one this year was ""unnecessarily aggressive"".', 'While economists at Wells Fargo said it would be a ""close call"" between making one or two reductions in 2024.', 'Officials at the US Fed were split over how many interest rate cuts they expected this year.', 'Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two.', 'Forecasts from the US Fed signalled one modest cut to 5%-5.25%.', 'Mr Powell acknowledged that a reduction of this size would not have a major impact on the US economy.', 'But he said when a cut finally does come it would be “a consequential decision for the economy” which “you want to get right"".', 'While inflation eased a little, the US employment market remains robust.', 'Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected.', 'Ms Fedyk said: ""The Fed is trying to react to the data but not overreact to the data.""', 'Some other major economies have cut interest rates, including the European Central Bank and the Bank of Canada.', 'But the US - and the UK - are yet to make a similar move.', 'The Bank of England will meet next week and is widely expected to hold interest rates at 5.25%, their highest level for 16 years.', 'The Consumer Prices Index (CPI) measure of inflation has slowed significantly in the UK from a high of 11.1% in October 2022 to 2.3% currently.', 'However, some elements of inflation remain stubbornly high.', 'At the same time, average wage growth in the UK remains strong compared to inflation.', 'Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress.""']",0.1486142408795249,"Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress.""","Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two.",0.2429289572379168,"Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected.","Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May.",2024-06-16 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-06-16 -Alex Jones ordered to sell assets to pay Sandy Hook debt,https://www.bbc.co.uk/news/articles/cj55v57v2z2o,2024-06-14T19:27:50.334Z,"A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting. However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand. Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack. The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns. According to recent court filings, Mr Jones has around $8.6m in personal assets. The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate. According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items. Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure. The decision does not remove Free Speech Systems' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""There's no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “I think creditors are better served in pursuing their state court rights."" One of the attorneys for the families said they would move quickly to collect damages. “The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""Alex Jones is neither a martyr nor a victim. He is the perpetrator of the worst defamation in American history."" Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents. Twenty young children and six school staff were killed in the attack. At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors."" Mr Jones has since acknowledged that the Sandy Hook killings occurred. Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers. The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy. Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring. On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him. He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “I would have been off the air today if the judge hadn’t done the right thing. We live to fight another day.” During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars. But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales. ",BBC,14/06/2024,"[""A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting."", 'However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand.', 'Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack.', ""The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns."", 'According to recent court filings, Mr Jones has around $8.6m in personal assets.', 'The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate.', 'According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items.', 'Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure.', 'The decision does not remove Free Speech Systems\' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""', 'There\'s no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “', 'I think creditors are better served in pursuing their state court rights.""', 'One of the attorneys for the families said they would move quickly to collect damages. “', 'The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""', 'Alex Jones is neither a martyr nor a victim.', 'He is the perpetrator of the worst defamation in American history.""', 'Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.', 'Twenty young children and six school staff were killed in the attack.', 'At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors.""', 'Mr Jones has since acknowledged that the Sandy Hook killings occurred.', 'Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers.', 'The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy.', 'Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring.', 'On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him.', 'He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “', 'We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “', 'I would have been off the air today if the judge hadn’t done the right thing.', 'We live to fight another day.”', 'During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.', 'But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.']",-0.0736248575336421,"He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “","Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.",0.3448423743247986,"But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.","During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.",2024-06-16 -The Indian games industry's storytelling trailblazers,https://www.bbc.co.uk/news/articles/c8vv58ry8q2o,2024-06-14T00:51:03.325Z,"India might not be the first country that springs to mind when someone mentions video games, but it's one of the fastest-growing markets in the world. Analysts believe there could be more than half a billion players there by the end of this year. Most of them are playing on mobile phones and tablets, and fans will tell you the industry is mostly known for fantasy sports games that let you assemble imaginary teams based on real players. Despite concerns over gambling and possible addiction, they're big business. The country's three largest video game startups - Game 24X7, Dream11 and Mobile Premier League – all provide some kind of fantasy sport experience and are valued at over $1bn. But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment. During the recent Summer Game Fest (SGF) - an annual showcase of new and upcoming titles held in Los Angeles and watched by millions - audiences saw previews of a number of story-rich titles from South Asian teams. One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective. Industry veteran Shalin Shodhan is behind the game and tells BBC Asian Network this focus on unique stories is “bucking the trend” in India's games industry. He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “There really isn’t anything in the marketplace to make stories about India,"" he says, despite the strength of some of the country's other cultural industries. “If you think about how much intellectual property there is in film in India, it is really surprising to think nothing indigenous exists as an original entertainment property in games,"" he says. ""It’s almost like the Indian audience accepted that we’re just going to play games from outside.” Another game shown during SGF was The Palace on the Hill – a ""slice-of-life"" farming sim set in rural India. Mala Sen, from developer Niku Games, says games like this and Detective Dotson are what “India needed”. “We know that there are a lot of people in India who want games where characters and setting are relatable to them,"" she says. Games developed by South Asian teams based in western countries have been finding critical praise and commercial success in recent years. Venba, a cooking sim that told the story of a migrant family reconnecting with their heritage through food, became the first game of its kind to take home a Bafta Game Award this year. Canada-based Visai Games, which developed the title, was revealed during SGF as one of the first beneficiaries of a new fund set up by Among Us developer Innersloth to boost fellow indie developers. That will go towards their new, unnamed project based on ancient Tamil legends. Another title awarded funding by the scheme was Project Dosa, from developer Outerloop, that sees players pilot giant robots, cook Indian food and fight lawyers. Its previous game, Thirsty Suitors, was also highly praised and nominated for a Bafta award this year. Games such as these resonating with players worldwide helps perceptions from the wider industry, says Mumbai-based Indrani Ganguly, of Duronto Games. “Finally, people are starting to see we’re not just a place for outsource work,” she says. “We’re moving from India being a technical space to more of a creative hub. “I’m not 100% seeing a shift but that’s more of a mindset thing. ""People who are able to make these kinds of games have always existed but now there is funding and resource opportunities available to be able to act on these creative visions.” British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “They make me feel very proud,"" she says. ""We’re coming to a point where the industry is growing massively, both in terms of hours spent gaming but more importantly in the variety of the games. ""When you have authentic local stories told from the heart, that’s something everyone can relate to.” Charu says funding for ""unique and quirky stories has been an issue"" but recent successes such as Venba and Thirsty Suitors have shown there is an appetite for south Asian stories told by south Asian developers. Some of the industry's biggest companies are also paying attention. Last year, Sony launched its India Hero Project with a goal to “unearth and empower India’s brightest game development talents” via mentorship and funding. Its first cohort of games included slice-of-life games Fishbowl, museum exploration game Mukti and rhythm-action game Suri: the Seventh Note, inspired by mythical Indian stories from the Himalayas to Rajasthan. Meanwhile french publishing giant Ubisoft’s Indie Series has supported Thousand Star Studios in creating Aikyam – a Bollywood-inspired fantasy roleplaying game set to be released this year. Charu says video games and their interactivity allow people to “understand a concept on a very deep level."" “It’s not just about me appreciating my south Asian roots but its about other people really connecting with the authenticity of that experience,” says Charu. “It takes time for an industry to evolve and mature,"" she says. ""We’re in the early days as an industry as a whole, even in the west. ""But people now have access to technology and India is also a nation that loves to tell stories.” Listen to Ankur Desai's show on BBC Asian Network live from 15:00-18:00 Monday to Thursday - or listen back here. ",BBC,14/06/2024,"[""India might not be the first country that springs to mind when someone mentions video games, but it's one of the fastest-growing markets in the world."", 'Analysts believe there could be more than half a billion players there by the end of this year.', 'Most of them are playing on mobile phones and tablets, and fans will tell you the industry is mostly known for fantasy sports games that let you assemble imaginary teams based on real players.', ""Despite concerns over gambling and possible addiction, they're big business."", ""The country's three largest video game startups - Game 24X7, Dream11 and Mobile Premier League – all provide some kind of fantasy sport experience and are valued at over $1bn."", ""But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment."", 'During the recent Summer Game Fest (SGF) - an annual showcase of new and upcoming titles held in Los Angeles and watched by millions - audiences saw previews of a number of story-rich titles from South Asian teams.', 'One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective.', ""Industry veteran Shalin Shodhan is behind the game and tells BBC Asian Network this focus on unique stories is “bucking the trend” in India's games industry."", ""He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “"", 'There really isn’t anything in the marketplace to make stories about India,"" he says, despite the strength of some of the country\'s other cultural industries. “', 'If you think about how much intellectual property there is in film in India, it is really surprising to think nothing indigenous exists as an original entertainment property in games,"" he says. ""', 'It’s almost like the Indian audience accepted that we’re just going to play games from outside.”', 'Another game shown during SGF was The Palace on the Hill – a ""slice-of-life"" farming sim set in rural India.', 'Mala Sen, from developer Niku Games, says games like this and Detective Dotson are what “India needed”. “', 'We know that there are a lot of people in India who want games where characters and setting are relatable to them,"" she says.', 'Games developed by South Asian teams based in western countries have been finding critical praise and commercial success in recent years.', 'Venba, a cooking sim that told the story of a migrant family reconnecting with their heritage through food, became the first game of its kind to take home a Bafta Game Award this year.', 'Canada-based Visai Games, which developed the title, was revealed during SGF as one of the first beneficiaries of a new fund set up by Among Us developer Innersloth to boost fellow indie developers.', 'That will go towards their new, unnamed project based on ancient Tamil legends.', 'Another title awarded funding by the scheme was Project Dosa, from developer Outerloop, that sees players pilot giant robots, cook Indian food and fight lawyers.', 'Its previous game, Thirsty Suitors, was also highly praised and nominated for a Bafta award this year.', 'Games such as these resonating with players worldwide helps perceptions from the wider industry, says Mumbai-based Indrani Ganguly, of Duronto Games. “', 'Finally, people are starting to see we’re not just a place for outsource work,” she says. “', 'We’re moving from India being a technical space to more of a creative hub. “', 'I’m not 100% seeing a shift but that’s more of a mindset thing. ""', 'People who are able to make these kinds of games have always existed but now there is funding and resource opportunities available to be able to act on these creative visions.”', 'British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “', 'They make me feel very proud,"" she says. ""', 'We’re coming to a point where the industry is growing massively, both in terms of hours spent gaming but more importantly in the variety of the games. ""', 'When you have authentic local stories told from the heart, that’s something everyone can relate to.”', 'Charu says funding for ""unique and quirky stories has been an issue"" but recent successes such as Venba and Thirsty Suitors have shown there is an appetite for south Asian stories told by south Asian developers.', ""Some of the industry's biggest companies are also paying attention."", 'Last year, Sony launched its India Hero Project with a goal to “unearth and empower India’s brightest game development talents” via mentorship and funding.', 'Its first cohort of games included slice-of-life games Fishbowl, museum exploration game Mukti and rhythm-action game Suri: the Seventh Note, inspired by mythical Indian stories from the Himalayas to Rajasthan.', 'Meanwhile french publishing giant Ubisoft’s Indie Series has supported Thousand Star Studios in creating Aikyam – a Bollywood-inspired fantasy roleplaying game set to be released this year.', 'Charu says video games and their interactivity allow people to “understand a concept on a very deep level."" “', 'It’s not just about me appreciating my south Asian roots but its about other people really connecting with the authenticity of that experience,” says Charu. “', 'It takes time for an industry to evolve and mature,"" she says. ""', 'We’re in the early days as an industry as a whole, even in the west. ""', 'But people now have access to technology and India is also a nation that loves to tell stories.”', ""Listen to Ankur Desai's show on BBC Asian Network live from 15:00-18:00 Monday to Thursday - or listen back here.""]",0.374573562205407,But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment.,"One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective.",0.7896140109408986,British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “,He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “,2024-06-16 -Pro-Trump media figures dismiss Hunter Biden conviction as ‘fake trial’ to ‘cover up’ other supposed crimes,https://edition.cnn.com/2024/06/11/media/pro-trump-media-hunter-biden-conviction/index.html," - Published - 7:58 PM EDT, Tue June 11, 2024 - ","In the wake of Hunter Biden’s conviction on federal gun charges Tuesday, right-wing media personalities sought to downplay the jury’s decision, falsely claiming the case was a “fake trial” designed to “cover up” other supposed crimes committed by the president and his family. - - The reaction showcased how far to the fringes the right-wing and pro-Trump media ecosystem has drifted in recent years, with high-profile personalities defaulting to conspiracy theories and innuendo in response to inconvenient political news. - - “Hunter Biden guilty. Yawn,” right-wing talk show host Charlie Kirk wrote. “The true crimes of the Biden Crime Family remain untouched. This is a fake trial trying to make the Justice system appear ‘balanced.’ Don’t fall for it.” - - While right-wing figures and Republicans have long pushed the narrative that President Joe Biden has been involved in criminal activity, their claims have repeatedly fallen flat. But the reaction rippled throughout the pro-Trump world Tuesday with other far-right influencers and Trump-boosting Republicans echoing the sentiment. - - “They went after Hunter on his gun stuff to make you overlook all his Ukraine stuff,” Jack Posobiec, the far-right conspiracy theorist and Real America’s Voice host, wrote on X. - - Donald Trump’s campaign also slammed the verdict, pushing the conspiracy theory that the president had taken money from foreign governments. - - “This trial has been nothing more than a distraction from the real crimes of the Biden Crime Family, which has raked in tens of millions of dollars from China, Russia and Ukraine,” the Trump campaign said a statement to CNN. “Crooked Joe Biden’s reign over the Biden Family Criminal Empire is all coming to an end on November 5th, and never again will a Biden sell government access for personal profit.” - - There is no evidence Joe Biden has received large sums of money from China or has otherwise gained wealth as a result of his son’s business dealings abroad. - - The former president’s son Donald Trump Jr. also alleged in a live conversation on X that the younger Biden’s trial was “not what it seems.” - - “It’s trying to create that illusion of equal justice under the law,” he claimed. - - Instead, Trump Jr. alleged the case was a “cover up” for the “real charges and all the things that tied back to Joe Biden himself lapse, drop, expire in terms of statute of limitations.” - - Many of the former president’s supporters also reacted with similar sentiments. - - “They want you focused on the shiny little object of Hunter’s gun so you’re not focused on the Bidens making bank selling out America,” Monica Crowley, the former Trump administration official and ex-Fox News contributor, wrote on X. - - The reaction stood in contrast to just last month when former President Donald Trump was convicted on all 34 counts in the New York hush money trial. For others in the right-wing sphere, it’s simple; Trump’s case was a political hit job while Hunter Biden’s case was a clear case of someone breaking the law. - - “We have gone over a cliff,” Fox News host Jeanine Pirro said shortly after Trump was found guilty. “This is a new era in America, and I think it goes against the ilk of who we are as Americans and our faith in the criminal justice system.” - - But on Tuesday after the jury delivered its guilty verdict, Pirro applauded the Delaware judge - a Trump appointee - for her handling of the Hunter Biden case. - - “This is a no-nonsense judge who took this case, showed America how a case worked and moved it right from opening statement to verdict,” she said. - - Virginia Rep. Bob Good, who leads the hard-right House Freedom Caucus, offered a similar assessment. - - “Hunter Biden is convicted of an actual crime. Donald Trump was railroaded by a political prosecutor and a biased judge,” he posted on X. - - Meanwhile, Mark Levin, the right-wing talk radio personality and Fox News weekend host, wrote that Biden was convicted “in a real trial (not a farce like Manhattan).” - - Still, other Trump boosting Republicans reacted with a shrug . - - “The Hunter Biden gun conviction is kinda dumb tbh,” Florida GOP Rep. Matt Gaetz wrote on X.",CNN,11/06/2024,"['In the wake of Hunter Biden’s conviction on federal gun charges Tuesday, right-wing media personalities sought to downplay the jury’s decision, falsely claiming the case was a “fake trial” designed to “cover up” other supposed crimes committed by the president and his family.', 'The reaction showcased how far to the fringestheright-wing and pro-Trump mediaecosystem hasdrifted in recent years, withhigh-profile personalities defaulting toconspiracy theoriesandinnuendo in response toinconvenient political news.', '“Hunter Biden guilty.', 'Yawn,” right-wing talk show host Charlie Kirk wrote. “', 'The true crimes of the Biden Crime Family remain untouched.', 'This is a fake trial trying to make the Justice system appear ‘balanced.’', 'Don’t fall for it.”', 'While right-wing figures and Republicans have long pushed the narrative that President Joe Biden has been involved in criminal activity, their claims have repeatedly fallen flat.', 'But thereactionrippled throughout the pro-Trump worldTuesdaywithother far-right influencers and Trump-boosting Republicans echoing thesentiment.', '“They went after Hunter on his gun stuff to make you overlook all his Ukraine stuff,” Jack Posobiec,the far-right conspiracy theoristand Real America’s Voice host,wroteon X. Donald Trump’s campaign alsoslammedthe verdict,pushingthe conspiracy theory that the president had taken money from foreign governments.', '“This trial has been nothing more than a distraction from the real crimes of the Biden Crime Family, which has raked in tens of millions of dollars from China, Russia and Ukraine,” the Trump campaign said a statement to CNN. “', 'Crooked Joe Biden’s reign over the Biden Family Criminal Empire is all coming to an end on November 5th, and never again will a Biden sell government access for personal profit.”', 'There isno evidenceJoe Biden has received large sums of money from China or has otherwise gained wealth as a result of his son’s business dealings abroad.', 'The former president’s sonDonald Trump Jr.also alleged in a live conversation on X that the younger Biden’s trial was “not what it seems.”', '“It’s trying to create that illusion of equal justice under the law,”he claimed.', 'Instead, Trump Jr. alleged the casewas a “cover up” for the “real charges and all the things that tied back to Joe Biden himself lapse, drop, expire in terms of statute of limitations.”', 'Many of the former president’s supporters alsoreacted withsimilarsentiments.', '“They want you focused on the shiny little object of Hunter’s gun so you’re not focused on the Bidens making bank selling out America,”Monica Crowley, the former Trump administration officialand ex-Fox News contributor, wrote on X. The reaction stood in contrast to just last month when former President Donald Trump was convicted on all 34 counts intheNew Yorkhush money trial.', 'Forothersin the right-wing sphere, it’s simple; Trump’s case was a political hit job while Hunter Biden’s case was a clear case of someone breaking the law.', '“We have gone over a cliff,” Fox News host Jeanine Pirro said shortly after Trump was found guilty. “', 'This is a new era in America, and I think it goes against the ilk of who we are as Americans and our faith in the criminal justice system.”', 'Buton Tuesday after the jurydelivered itsguilty verdict, Pirroapplauded theDelawarejudge-a Trump appointee-forherhandling of the Hunter Biden case.', '“This is a no-nonsense judge who took this case, showed America how a case worked and moved it right from opening statement to verdict,” she said.', 'Virginia Rep. Bob Good,who leads the hard-right House Freedom Caucus,offered a similar assessment.', '“Hunter Biden is convicted of an actual crime.', 'Donald Trump was railroaded by a political prosecutor and a biased judge,”he posted on X. Meanwhile,Mark Levin, the right-wing talk radiopersonalityand Fox News weekend host, wrote that Biden was convicted “in a real trial (not a farce like Manhattan).”', 'Still, other Trump boosting Republicans reacted with ashrug.', '“The Hunter Biden gun conviction is kinda dumb tbh,” Florida GOP Rep. MattGaetzwroteon X.']",-0.0816421092628329,"Virginia Rep. Bob Good,who leads the hard-right House Freedom Caucus,offered a similar assessment.","“They went after Hunter on his gun stuff to make you overlook all his Ukraine stuff,” Jack Posobiec,the far-right conspiracy theoristand Real America’s Voice host,wroteon X. Donald Trump’s campaign alsoslammedthe verdict,pushingthe conspiracy theory that the president had taken money from foreign governments.",-0.256544957558314,There isno evidenceJoe Biden has received large sums of money from China or has otherwise gained wealth as a result of his son’s business dealings abroad.,"While right-wing figures and Republicans have long pushed the narrative that President Joe Biden has been involved in criminal activity, their claims have repeatedly fallen flat.",2024-06-16 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-06-16 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-06-16 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-06-16 -‘Inside Out 2’ jolts a sleepy summer box office,https://edition.cnn.com/2024/06/16/business/inside-out-2-summer-box-office/index.html," - Published - 5:35 PM EDT, Sun June 16, 2024 - ","It was a weekend no doubt filled with Joy for Disney. The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend. - - Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million. According to Comscore and Disney, “Inside Out 2” has also cinched the No. 2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.” It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far. - - “This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theaters across the United States. “We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.” - - Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office. The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season. - - Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.” - - “Disney is still in the early phases of its refocused theatrical prioritization,” he said. “Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.” - - In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster. - - “Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after “The Marvels” disappointed last November with a $47 million opening weekend. The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26. - - “The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria. - - Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data. But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.” - - “This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.",CNN,16/06/2024,"['It was a weekend no doubt filled with Joy for Disney.', 'The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend.', 'Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million.', 'According to Comscore and Disney, “Inside Out 2” has also cinched the No.', '2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.”', 'It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far.', '“This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtimedata from thousands of movie theaters across the United States. “', 'We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.”', 'Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office.', 'The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.', 'Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.”', '“Disney is still in the early phases of its refocused theatrical prioritization,” he said. “', 'Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.”', 'In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster.', '“Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after“The Marvels” disappointed last Novemberwith a $47 million opening weekend.', 'The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26.', '“The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria.', 'Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data.', 'But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.”', '“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.']",0.136589664167877,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",0.4915643018834731,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",2024-06-16 -The end of Infowars? Judge to decide fate of Alex Jones’ conspiracy empire in Sandy Hook families’ quest for justice,https://edition.cnn.com/2024/06/14/media/infowars-liquidation-alex-jones-sandy-hook-families/index.html," - Published - 7:01 AM EDT, Fri June 14, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - Alex Jones’ conspiracy empire is on the brink. - - The fate of the right-wing extremist’s Infowars outlet could be decided on Friday as a Texas bankruptcy court hears a high-stakes motion filed by the families of the Sandy Hook victims over whether to liquidate the company. - - The families, who have yet to see a penny of the approximately $1.5 billion in judgments they are owed, have argued to the court that there is “no prospect” the company can produce a proper reorganization plan under a Chapter 11 bankruptcy. After years of waiting, they have asked the court to liquidate Jones’ Free Speech Systems, the parent of Infowars. - - If the judge rules in favor of Sandy Hook families, Infowars would be shuttered. In such a scenario, a court-appointed trustee would be tasked with securing the assets and then selling off Jones’ media empire, including the website, studio space, and broadcasting equipment. - - “Infowars would no longer exist,” Christopher Mattei, an attorney who represents some of the Sandy Hook families, explained this week to CNN’s Hadas Gold. - - The process could play out quickly, denying Jones the megaphone he has used for decades to spread dangerous and hateful conspiracy theories. Since founding Infowars in the late 1990s, Jones has poisoned the public discourse with toxic commentary, most notably pushing the lie that the 2012 Newtown, Connecticut, shooting was a so-called “false flag” operation staged by the government and that the grieving family members of 20 child victims were “actors.” Jones, who hawks high-priced dietary supplements to his audience, has used the lies to enrich himself to the tune of millions of dollars. - - While juries in Texas and Connecticut punished Jones, awarding the Sandy Hook families hundreds of millions of dollars, the radical host has been able to continue operating his conspiracy empire after filing for Chapter 11 bankruptcy protection. Jones, who also filed for personal bankruptcy protection, moved to liquidate his personal assets last week, meaning that even if the judge does not order such a move for his company, it will ultimately mean he no longer owns Infowars in the future. - - While it’s possible that the liquidation of Jones’ company, if ordered by the court on Friday, could lead to its ultimate demise, a court-appointed trustee could opt to sell the company to a potential buyer. Perhaps a fellow conspiracy theorist, such as Tucker Carlson, who is trying to gain traction with his own media startup, would be interested in purchasing the assets. But the attorneys representing Sandy Hook families expect that the most likely scenario is Jones’ Infowars empire will be sold off, piece by piece, with the proceeds going to their clients. - - The outlet’s potential demise is the latest instance in which the legal system is holding right-wing media outlets accountable for their lies. Companies operated by dishonest conspiracy profiteers rarely — if ever — admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record. - - In the last year, Fox News paid a historic $787.5 million settlement to voting technology company Dominion Voting Systems. The Gateway Pundit filed for bankruptcy protection. One America News settled a case with voting technology company Smartmatic. Salem Media Group apologized for and stopped distributing an election denialist documentary from Dinesh D’Souza. And several cases are still pending in the legal system. - - While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies. Of course, no monetary award can ever heal the wounds inflicted by the reprehensible lies Jones told about Sandy Hook, dishonoring the children massacred that day and tormenting their families for years. But the liquidation of Jones’ assets will represent some progress. - - “If the judge ordered Alex Jones’ business to be liquidated… that will be a moment the families can take some pride in,” Mattei said. “Their objective has long been to protect their families and other families from the type of harm that Alex Jones inflicted on them for years.”",CNN,14/06/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Alex Jones’ conspiracy empire is on the brink.', 'The fate of the right-wing extremist’sInfowarsoutlet could be decided on Friday as a Texas bankruptcy court hears a high-stakes motion filed by the families of theSandy Hookvictims over whether to liquidate the company.', 'The families, who have yet to see a penny of the approximately $1.5 billion in judgments they are owed, have argued to the court that there is “no prospect” the company can produce a proper reorganization plan under a Chapter 11 bankruptcy.', 'After years of waiting, they have asked the court to liquidate Jones’Free Speech Systems, the parent of Infowars.', 'If the judge rules in favor of Sandy Hook families, Infowars would be shuttered.', 'In such a scenario, a court-appointed trustee would be tasked with securing the assets and then selling off Jones’ media empire, including the website, studio space, and broadcasting equipment.', '“Infowars would no longer exist,”Christopher Mattei, an attorney who represents some of the Sandy Hook families, explained this week to CNN’sHadas Gold.', 'The process could play out quickly, denying Jones the megaphone he has used for decades to spread dangerous and hateful conspiracy theories.', 'Since founding Infowars in the late 1990s, Jones has poisoned the public discourse with toxic commentary, most notably pushing the lie that the 2012 Newtown, Connecticut, shooting was a so-called “false flag” operation staged by the government and that the grieving family members of 20 child victims were “actors.”', 'Jones, who hawks high-priced dietary supplements to his audience, has used the lies to enrich himself to the tune of millions of dollars.', 'While juries in Texas and Connecticut punished Jones, awarding the Sandy Hook families hundreds of millions of dollars, the radical host has been able to continue operating his conspiracy empire after filing for Chapter 11 bankruptcy protection.', 'Jones, who also filed for personal bankruptcy protection, moved toliquidate his personal assetslast week, meaning that even if the judge does not order such a move for his company, it will ultimately mean he no longer owns Infowars in the future.', 'While it’s possible that the liquidation of Jones’ company, if ordered by the court on Friday, could lead to its ultimate demise, a court-appointed trustee could opt to sell the company to a potential buyer.', 'Perhaps a fellow conspiracy theorist, such asTucker Carlson, who is trying to gain traction with his own media startup, would be interested in purchasing the assets.', 'But the attorneys representing Sandy Hook families expect that the most likely scenario is Jones’ Infowars empire will be sold off, piece by piece, with the proceeds going to their clients.', 'The outlet’s potential demise is the latest instance in which the legal system is holding right-wing media outlets accountable for their lies.', 'Companies operated by dishonest conspiracy profiteers rarely —if ever— admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record.', 'In the last year,Fox Newspaid a historic $787.5 million settlementto voting technology companyDominion Voting Systems.', 'The Gateway Punditfiled for bankruptcy protection.', 'One America Newssettled a casewith voting technology companySmartmatic.', 'Salem Media Groupapologized for and stopped distributingan election denialist documentary fromDinesh D’Souza.', 'And several cases are still pending in the legal system.', 'While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies.', 'Of course, no monetary award can ever heal the wounds inflicted by the reprehensible lies Jones told about Sandy Hook, dishonoring the children massacred that day and tormenting their families for years.', 'But the liquidation of Jones’ assets will represent some progress.', '“If the judge ordered Alex Jones’ business to be liquidated… that will be a moment the families can take some pride in,” Mattei said. “', 'Their objective has long been to protect their families and other families from the type of harm that Alex Jones inflicted on them for years.”']",-0.1134271641384359,But the liquidation of Jones’ assets will represent some progress.,"Companies operated by dishonest conspiracy profiteers rarely —if ever— admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record.",0.2628013372421264,"While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies.",Salem Media Groupapologized for and stopped distributingan election denialist documentary fromDinesh D’Souza.,2024-06-16 -"Investigation underway into rare, unsafe airliner roll experienced by a Boeing 737 Max",https://edition.cnn.com/2024/06/14/business/boeing-737-max-dutch-roll-investigation/index.html," - Updated - 3:46 PM EDT, Fri June 14, 2024 - ","Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight. - - The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight. - - There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA. The report said the crew “regained control,” and the plane safely landed. - - But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.” The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder. - - It is unclear if the damaged unit led to or was a result of the roll. - - The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state. Boeing did not immediately comment to CNN. - - Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation. - - The incident occurred almost three weeks ago and was added to a FAA database this week. There were 175 passengers and six crew onboard, according to the airline. - - The NTSB confirmed it has opened an investigation into this incident. Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.” - - Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten. - - In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt. It said the flaw would prevent the pilots from controlling the rudder using foot pedals. Authorities have not said if this condition and the Dutch roll last month are related. - - Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight. - - “It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN. “It’s a very uncomfortable movement and you feel the tail swinging around.” - - While moving forward in flight, airplanes can pivot along three axis: Nose up and down, known as pitch; wings dipping down or raising up, known as roll; and the tail shifting left or right, known as yaw. - - Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers. These large aircraft also have yaw dampers that make small adjustments throughout flight. - - In the Dutch roll, the plane both rolls and yaws excessively. Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said. - - She said airline pilots train for scenarios where their yaw dampers fail. They could take an aircraft simulator to a high altitude and turn off the yaw damper. - - “Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said. - - To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air. Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input. - - But the forces can be powerful. In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls. - - “The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”",CNN,14/06/2024,"['Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.', 'The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight.', 'There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA.', 'The report said the crew “regained control,” and the plane safely landed.', 'But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”', 'The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder.', 'It is unclear if the damaged unit led to or was a result of the roll.', 'The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state.', 'Boeing did not immediately comment to CNN.', 'Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.', 'The incident occurred almost three weeks ago and was added to a FAA database this week.', 'There were 175 passengers and six crew onboard, according to the airline.', 'The NTSB confirmed it has opened an investigation into this incident.', 'Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.”', 'Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten.', 'In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt.', 'It said the flaw would prevent the pilots from controlling the rudder using foot pedals.', 'Authorities have not said if this condition and the Dutch roll last month are related.', 'Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight.', '“It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN.“It’s a very uncomfortable movement and you feel the tail swinging around.”', 'While moving forward in flight, airplanes can pivot along three axis:Nose up and down, known as pitch; wings dipping down or raising up, known as roll;and the tail shifting left or right, known as yaw.', 'Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers.', 'These large aircraft also have yaw dampers that make small adjustments throughout flight.', 'In the Dutch roll, the plane both rolls and yaws excessively.', 'Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said.', 'She said airline pilots train for scenarios where their yaw dampers fail.', 'They could take an aircraft simulator to a high altitude and turn off the yaw damper.', '“Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said.', 'To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air.', 'Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input.', 'But the forces can be powerful.', 'In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls.', '“The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “', 'Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”']",-0.0812634494333823,Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.,But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”,-0.9796725809574128,,"Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.",2024-06-16 -Problematic titanium was found in Boeing and Airbus jets. The FAA is investigating how it got there,https://edition.cnn.com/2024/06/14/business/faa-probe-counterfeit-titanium-boeing-airbus/index.html," - Updated - 11:18 AM EDT, Fri June 14, 2024 - ","Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. - - The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets. The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report. - - The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. - - “To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely.” - - Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain. - - “When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.” - - Airbus said it is aware of the situation. - - “Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “They show that the A220’s airworthiness remains intact.”  - - The FAA said it trying to determine the safety implications to planes that were made using the parts. It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220. - - “Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.” - - Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally. - - The most serious and high profile problems involve Boeing,  which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet. More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side. - - Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.",CNN,14/06/2024,"['Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets.', 'Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.', 'The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets.', 'The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report.', 'The FAA and Boeing confirmed that they are investigating the matter.', 'Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used.', '“To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely.”', 'Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain.', '“When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “', 'More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.”', 'Airbus said it is aware of the situation.', '“Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “', 'They show that the A220’s airworthiness remains intact.”', 'The FAA said it trying to determine the safety implications to planes that were made using the parts.', 'It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220.', '“Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “', 'Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.”', 'Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.', 'The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.', 'More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side.', 'Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.']",-0.0347575921606773,"Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.","The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.",-0.4172341312680925,Our analysis shows the in-service fleet can continue to fly safely.”,"Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.",2024-06-16 -Instant ramen ‘fire noodles’ are too spicy for this country,https://edition.cnn.com/2024/06/12/business/spicy-instant-ramen-recall-denmark-hnk-intl/index.html," - Published - 7:38 AM EDT, Wed June 12, 2024 - ","Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy. - - The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x Spicy and Hot Chicken Stew was so high that it could poison consumers, the Danish Veterinary and Food Administration said in a statement issued Tuesday. - - Capsaicin is a spicy, naturally occurring chemical found in chili peppers. - - South Korean noodle giant Samyang, which developed the ramen, said on Wednesday that the products were not being recalled because of quality issues. - - It’s “because it is so spicy that it could cause problems,” a spokesperson told CNN. “This is the first time they’ve been subject to (a) recall for this reason.” - - The Danish regulator didn’t say whether the recall was prompted by a specific incident. It urged consumers to discard the products or return them to where they were purchased. - - Instant noodles originated in Japan but have become a staple across Asia. Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food. - - Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm. - - Buldak, which means “fire chicken” in Korean, was developed by Samyang’s chief executive, Kim Jung-soo, a housewife who married into the family business and eventually took over. She told The Wall Street Journal in January that she was inspired by a spicy stir fry. - - The noodles were launched in 2012 and popularized on social media by influencers touting the “Fire Noodles Challenge.” In March, rapper Cardi B reignited the craze with a TikTok video. - - According to taste testers, the original buldak ramen scored around 4,000 on the Scoville scale, which is roughly equivalent to the heat of jalapeños. Some of the new flavors may be two or three times as hot, they have said.",CNN,12/06/2024,"['Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy.', 'The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x Spicy and Hot Chicken Stew was so high that it could poison consumers, the Danish Veterinary and Food Administration said in a statement issued Tuesday.', 'Capsaicin is a spicy, naturally occurring chemical found in chili peppers.', 'South Korean noodle giant Samyang, which developed the ramen, said on Wednesday that the products were not being recalled because of quality issues.', 'It’s “because it is so spicy that it could cause problems,” a spokesperson told CNN. “', 'This is the first time they’ve been subject to (a) recall for this reason.”', 'The Danish regulator didn’t say whether the recall was prompted by a specific incident.', 'It urged consumers to discard the products or return them to where they were purchased.', 'Instant noodles originated in Japan but have become a staple across Asia.', 'Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food.', 'Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm.', 'Buldak, which means “fire chicken” in Korean, was developed by Samyang’s chief executive, Kim Jung-soo, a housewife who married into the family business and eventually took over.', 'She told The Wall Street Journal in January that she was inspired by a spicy stir fry.', 'The noodles were launched in 2012 and popularized on social media by influencers touting the “Fire Noodles Challenge.”', 'In March, rapper Cardi B reignited the craze with a TikTok video.', 'According to taste testers, the original buldak ramen scored around 4,000 on the Scoville scale, which is roughly equivalent to the heat of jalapeños.', 'Some of the new flavors may be two or three times as hot, they have said.']",-0.045554786773837,"Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm.","Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food.",-0.9121580521265664,,Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy.,2024-06-16 -"In CEO meeting, Trump promised more tax cuts",https://edition.cnn.com/2024/06/14/investing/trump-tax-cuts/index.html," - Updated - 9:12 AM EDT, Fri June 14, 2024 - ","Former President Donald Trump told some of America’s most powerful business leaders this week that he plans to once against slash corporate taxes, four people familiar with the matter told CNN. - - During his meeting on Thursday with CEOs in Washington, Trump told the executives he wants to cut the corporate tax rate to 20%, down from 21% currently, the sources said. - - Trump met privately with roughly 100 corporate leaders, including JPMorgan CEO Jamie Dimon, Apple CEO Tim Cook and Walmart CEO Doug McMillon, according to one of the people familiar with the matter. - - Trump has previously said that one of his core issues for a second term would be extending the 2017 Tax Cuts and Jobs Act, one of his signature achievements in office. - - Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office. - - An even deeper cut to the corporate rate could add to the cost. - - Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN. - - Trump said he wants to make all of the tax cuts enacted in 2017 permanent and also discussed with the CEOs the border, inflation and energy — including the need for more oil production, sources said. - - A Trump campaign official confirmed to CNN that Trump said he’d like to make all of the 2017 Trump tax cuts permanent and lower the corporate rate to 20%. - - Trump’s comments on tax cuts were previously reported by the New York Times and other outlets.",CNN,14/06/2024,"['Former President Donald Trump told some of America’s most powerful business leaders this week that he plans to once against slash corporate taxes, four people familiar with the matter told CNN.', 'During his meeting on Thursday with CEOs in Washington, Trump told the executives he wants to cut the corporate tax rate to 20%, down from 21% currently, the sources said.', 'Trump met privately with roughly 100 corporate leaders, including JPMorgan CEO Jamie Dimon, Apple CEO Tim Cook and Walmart CEO Doug McMillon, according to one of the people familiar with the matter.', 'Trump haspreviously saidthat one of his core issues for a second term would be extending the 2017 Tax Cuts and Jobs Act, one of his signature achievements in office.', 'Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office.', 'An even deeper cut to the corporate rate could add to the cost.', 'Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.', 'Trump said he wants to make all of the tax cuts enacted in 2017 permanent and also discussed with the CEOs the border, inflation and energy — including the need for more oil production, sources said.', 'A Trump campaign official confirmed to CNN that Trump said he’d like to make all of the 2017 Trump tax cuts permanent and lower the corporate rate to 20%.', 'Trump’s comments on tax cuts were previously reported bythe New York Timesand other outlets.']",-0.0863362313088516,"Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.","Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office.",-0.2967726190884908,"Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.",An even deeper cut to the corporate rate could add to the cost.,2024-06-16 -"Elizabeth Holmes, Silicon Valley’s most famous convict, makes her long-shot appeal",https://edition.cnn.com/2024/06/11/business/elizabeth-holmes-appeal/index.html," - Updated - 2:31 PM EDT, Tue June 11, 2024 - ","Lawyers for Elizabeth Holmes, the convicted Silicon Valley grifter, presented her appeal before a California court Tuesday, revisiting a case that exposed the shortcomings of the tech world’s fake-it-till-you-make-it startup culture. - - Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos. She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings. - - Holmes is serving her sentence at a minimum-security facility in southern Texas and, as with most defendants, did not appear in court when California’s Ninth Circuit heard her appeal. Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence. - - Critical to the government’s case against Holmes was convincing jurors that the Theranos founder not only knew her company’s technology was flawed but went to great lengths to conceal it from investors. In their appeal, defense lawyers have homed in on what they see as the court’s violation of evidentiary rules regarding one of the prosecution’s key witnesses. - - Pushing back, prosecutors stated Tuesday that the lower court did not err in its handling of the case and that “if there were any trial errors, they were harmless given the overwhelming and multifaceted evidence against Holmes.” - - A decision on the appeal wasn’t expected to come down immediately. Legal experts said the three judges are likely to consider the high-profile nature of the case and could take several weeks or months to issue a ruling. - - Over the past decade, the story of Theranos — valued at $10 billion at its peak — has become a cautionary tale of tech-startup hubris and hype. - - It had all the hallmarks of a Silicon Valley juggernaut: A 19-year-old founder who dropped out of Stanford and dressed like Steve Jobs, an audacious mission to disrupt the medical establishment and lots of buzz among deep-pocketed investors such as Larry Ellison and Rupert Murdoch. - - The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins. - - The trouble is, the tech never really worked, as a Wall Street Journal investigation revealed in a series of articles in 2015. Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary. - - Federal prosecutors in 2018 charged Holmes and her former partner, Ramesh “Sunny” Balwani, with running a multimillion-dollar scheme to defraud investors, doctors and patients. A jury ultimately convicted her on four counts of defrauding investors, but not guilty on the counts that pertained to defrauding patients. - - Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued. - - “Holmes repeatedly told potential investors that major pharmaceutical companies had validated Theranos’s device, and the US military was using it in the battlefield to treat wounded soldiers,” lawyers for the government said in court filings. “In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods. And the devices were never used in war zones. - - Balwani was convicted separately and sentenced to 13 years in prison. - - Prosecutors have sought to underscore the real-world implications of Holmes’ and Balwani’s lies to investors. In a filing to the appeals court, they note that one woman received results from Theranos’ test indicated “she was going to have a miscarriage when she was carrying a healthy baby,” the filing states. “Another received results indicating that he had late-stage prostate cancer when he did not. Another was informed (incorrectly) that she had HIV.” - - Holmes’ lawyers have said in court documents that the criminal trial was “teeming with issues for appeal.” - - Specifically, they focused on the testimony of Kingshuk Das, the former lab director at Theranos, who testified during the trial that he found many problems with the Edison machines and that he believed they were “unsuitable for clinical use.” - - On Tuesday, Holmes’ lawyer said Das’ opinion about whether the technology worked was “classic expert opinion,” given by someone who was not vetted as an expert witness in the case. - - Holmes has argued that Judge Edward Davila erred in his ruling that she could not refer to the testimony of Balwani, her former boyfriend and business partner, in her own defense. Her lawyers have argued that prosecutors’ statements about Holmes’ relationship with Balwani “would have probably led to Ms. Holmes’ acquittal in a new trial.” - - During Holmes’ trial, the government characterized the pair’s relationship as one between two co-equals, her laywers said in a 2022 filing. Then, in Balwani’s trial, “the government took the opposite position and highlighted Mr. Balwani’s age, experience, and influence over Ms. Holmes.” - - Criminal appeals are always an uphill battle, and Holmes’ case is no exception. - - “The issues that Holmes’s legal team has raised…are all issues that are difficult to win on appeal — it’s difficult to win on issues when you’re Monday morning quarterbacking the decisions made by the judge,” said Agustin Orozco, a former federal prosecutor and a partner with the law firm Crowell & Moring. - - In prosecutors’ filing to the court, Orozco notes, they frequently raise a “harmless error” argument — essentially saying that even if the lower court did make mistakes, “it doesn’t matter because the evidence is so overwhelming against Holmes.”",CNN,11/06/2024,"['Lawyers for Elizabeth Holmes, the convicted Silicon Valley grifter, presented her appeal before a California court Tuesday, revisiting a case that exposed the shortcomings of the tech world’s fake-it-till-you-make-it startup culture.', 'Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos.', 'She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings.', 'Holmes is serving her sentence at a minimum-security facility in southern Texas and, as with most defendants, did not appear in court when California’s Ninth Circuit heard her appeal.', 'Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence.', 'Critical to the government’s case against Holmes was convincing jurors that the Theranos founder not only knew her company’s technology was flawed but went to great lengths to conceal it from investors.', 'In their appeal, defense lawyers have homed in on what they see as the court’s violation of evidentiary rules regarding one of the prosecution’s key witnesses.', 'Pushing back, prosecutors stated Tuesday that the lower court didnot err in its handling of the case and that“if there were any trial errors, they were harmless given the overwhelming and multifaceted evidence against Holmes.”', 'A decision on the appeal wasn’t expected to come down immediately.', 'Legal experts said the three judges are likely to consider the high-profile nature of the case and could take several weeks or months to issue a ruling.', 'Over the past decade, the story of Theranos — valued at $10 billion at its peak — has become a cautionary tale of tech-startup hubris and hype.', 'It had all the hallmarks of a Silicon Valley juggernaut: A 19-year-old founder who dropped out of Stanford and dressed like Steve Jobs, an audacious mission to disrupt the medical establishment and lots of buzz among deep-pocketed investors such as Larry Ellison and Rupert Murdoch.', 'The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins.', 'The trouble is, the tech never really worked, as a Wall Street Journal investigation revealed in a series of articles in 2015.', 'Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary.', 'Federal prosecutors in 2018 charged Holmes and her former partner, Ramesh “Sunny” Balwani, with running a multimillion-dollar scheme to defraud investors, doctors and patients.', 'A jury ultimately convicted her on four counts of defrauding investors, but not guilty on the counts that pertained to defrauding patients.', 'Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued.', '“Holmes repeatedly told potential investors that major pharmaceutical companies had validated Theranos’s device, and the US military was using it in the battlefield to treat wounded soldiers,” lawyers for the government said in court filings. “', 'In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods.', 'And the devices were never used in war zones.', 'Balwani was convicted separately and sentenced to 13 years in prison.', 'Prosecutors have sought to underscore the real-world implications of Holmes’ and Balwani’s lies to investors.', 'In a filing to the appeals court, they note that one woman received results from Theranos’ test indicated “she was going to have a miscarriage when she was carrying a healthy baby,” the filing states. “', 'Another received results indicating that he had late-stage prostate cancer when he did not.', 'Another was informed (incorrectly) that she had HIV.”', 'Holmes’ lawyers have said in court documents that the criminal trial was “teeming with issues for appeal.”', 'Specifically, they focused on the testimony of KingshukDas, the former lab director at Theranos, who testified during the trial that he found many problems with the Edison machines and that he believed they were “unsuitable for clinical use.”', 'On Tuesday, Holmes’ lawyer said Das’ opinion about whether the technology worked was “classic expert opinion,” given by someone who was not vetted as an expert witness in the case.', 'Holmes has argued that Judge Edward Davila erred in his ruling that she could not refer to the testimony of Balwani, her former boyfriend and business partner, in her own defense.', 'Her lawyers have argued that prosecutors’ statements about Holmes’ relationship with Balwani “would have probably led to Ms. Holmes’ acquittal in a new trial.”', 'During Holmes’ trial, the government characterized the pair’s relationship as one between two co-equals, her laywers said in a 2022 filing.', 'Then, in Balwani’s trial, “the government took the opposite position and highlighted Mr. Balwani’s age, experience, and influence over Ms. Holmes.”', 'Criminal appeals are always an uphill battle, and Holmes’ case is no exception.', '“The issues that Holmes’s legal team has raised…are all issues that are difficult to win on appeal — it’s difficult to win on issues when you’re Monday morning quarterbacking the decisions made by the judge,” said Agustin Orozco, a former federal prosecutor and a partner with the law firm Crowell & Moring.', 'In prosecutors’ filing to the court, Orozco notes, they frequently raise a “harmless error” argument — essentially saying that even if the lower court did make mistakes,“it doesn’t matter because the evidence is so overwhelming against Holmes.”']",-0.0853229838606861,"Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary.","Criminal appeals are always an uphill battle, and Holmes’ case is no exception.",-0.1614258289337158,"The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins.","In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods.",2024-06-16 -How Carvel’s Fudgie the Whale became a Father’s Day icon,https://edition.cnn.com/2024/06/16/food/fudgie-the-whale-carvel-history/index.html," - Published - 2:00 AM EDT, Sun June 16, 2024 - ","Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale. - - Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters. - - Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand. It was made to fill the freezer cases that founder Tom Carvel had made for his shops. Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day. - - Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented. He decided to top it with fudge, because it was one of Carvel’s most popular toppings. - - To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.” Then it’s topped with soft-serve chocolate ice cream and frozen for several hours. After that, it’s topped with hot fudge with more crunchies on the side. The cakes sell for about $30. - - Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said. - - “The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue. It’s a big holiday to bring cake home,” Salerno told CNN. - - Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too. Carvel sells nearly 100,000 Fudgies a year. - - Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past. They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm. - - Carvel could use a boost. Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data. Carvel is owned by privately held Go To Foods (f.k.a. Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio. - - “For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN. - - Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose. That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers. - - “It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.” - - Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball. - - Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades. - - The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick. Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape. - - Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state. - - It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons. Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday. - - Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion. - - For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers. - - “We as a brand made sure to keep him front and center,” Salerno said. “It’s amazing how well-known and how well loved he is.”",CNN,16/06/2024,"['Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale.', 'Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters.', 'Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand.', 'It was made to fill the freezer cases that founder Tom Carvel had made for his shops.', 'Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day.', 'Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented.', 'He decided to top it with fudge, because it was one of Carvel’s most popular toppings.', 'To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.”', 'Then it’s topped with soft-serve chocolate ice cream and frozen for several hours.', 'After that, it’s topped with hot fudge with more crunchies on the side.', 'The cakes sell for about $30.', 'Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said.', '“The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue.', 'It’s a big holiday to bring cake home,” Salerno told CNN.', 'Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too.', 'Carvel sells nearly 100,000 Fudgies a year.', 'Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past.', 'They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.', 'Carvel could use a boost.', 'Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.', 'Carvel is owned by privately held Go To Foods (f.k.a.', 'Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio.', '“For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN.', 'Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose.', 'That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers.', '“It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “', 'But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.”', 'Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball.', 'Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.', 'The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick.', 'Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape.', 'Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state.', 'It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons.', 'Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday.', 'Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion.', 'For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers.', '“We as a brand made sure to keep him front and center,” Salerno said. “', 'It’s amazing how well-known and how well loved he is.”']",0.2545999209117467,It’s amazing how well-known and how well loved he is.”,"Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.",0.743081271648407,"They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.","Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.",2024-06-16 -The hidden costs of owning a home are surging for Americans,https://edition.cnn.com/2024/06/11/business/homeownership-costs-inflation/index.html," - Updated - 8:48 AM EDT, Wed June 12, 2024 - ","The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments. - - US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study. - - That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home. - - All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance. - - The findings are another reminder of how much more expensive life has become since Covid-19. - - New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses. - - Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics. That’s well above the overall inflation rate of 3.3%. - - Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated. The housing market is historically unaffordable. - - But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it. - - The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found. - - Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance. - - Home insurance premiums have surged in recent years, in part because of extreme weather. - - “My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021. - - Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region. - - “My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said. - - Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global. The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage. And high inflation made it that much more expensive to rebuild properties. - - Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs. - - “The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection. We bought it as is,” she said. “We knew the plumbing was old but it’s falling apart.” - - To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service. - - Schauer isn’t alone among Californians grappling with high hidden costs of homeownership. - - The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii. - - The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515). - - By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate. - - Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%). - - Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020. - - Those gains have padded the net worth of millions of Americans. Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve. - - The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes. - - Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers. - - “A lot of first-time buyers think of the closing table as the finish line,” he said. “But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.” - - Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage. - - “You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “But once you own, you have to set aside money for these unexpected costs.”",CNN,12/06/2024,"['The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments.', 'US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study.', 'That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home.', 'All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance.', 'The findings are another reminder of how much more expensive life has become since Covid-19.', 'New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses.', 'Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics.', 'That’s well above the overall inflation rate of 3.3%.', 'Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated.', 'The housing market is historically unaffordable.', 'But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it.', 'The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found.', 'Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance.', 'Home insurance premiums have surged in recent years, in part because of extreme weather.', '“My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021.', 'Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region.', '“My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said.', 'Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global.', 'The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.', 'And high inflation made it that much more expensive to rebuild properties.', 'Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs.', '“The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection.', 'We bought it as is,” she said. “', 'We knew the plumbing was old but it’s falling apart.”', 'To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service.', 'Schauer isn’t alone among Californians grappling with high hidden costs of homeownership.', 'The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii.', 'The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515).', 'By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate.', 'Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).', 'Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020.', 'Those gains have padded the net worth of millions of Americans.', 'Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve.', 'The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.', 'Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers.', '“A lot of first-time buyers think of the closing table as the finish line,” he said. “', 'But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.”', 'Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage.', '“You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “', 'But once you own, you have to set aside money for these unexpected costs.”']",0.0582950305030747,"The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",0.2334338873624801,"Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",2024-06-16 -America’s top central banker says the job market is back to normal. Is that right?,https://edition.cnn.com/2024/06/16/economy/stocks-week-ahead-us-job-market-normal/index.html," - Published - 7:30 AM EDT, Sun June 16, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. But that assertion may not be exactly right, according to ZipRecruiter’s chief economist. - - “Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year. - - The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show. The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022. - - Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic. The rate at which Americans are quitting their jobs is also back to pre-pandemic levels. - - It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020. Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.” - - However, the 2024 job market differs from 2019 in a few key ways. And those factors may not change anytime soon. - - Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. - - (This interview has been edited for length and clarity.) - - Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? - - Julia Pollak: No, I would say that this is not quite the same normal. It’s a new normal, and there are some key differences. We’re still adding employees faster than 2019. But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower. - - Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs. Now, is that necessarily a bad thing? It’s not clear. - - Why is the job market slower now? - - High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking. They’re not hiring new grads at the same rate, they seem quite reluctant to do so. It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates. - - The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs. People are eager to hang on to their job that gives them flexibility. I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition. - - Unlike in 2019, there is more remote work and more flexible work. Remote and hybrid work are like five times bigger than they were before the pandemic. That’s here to stay. - - But what about this persistently wide gap between job openings and the number of unemployed folks seeking work? - - I think there’s reason to believe the labor market is actually less tight now than it was in 2019. The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count. - - You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey]. - - It seems like we are systematically over-counting openings by more and more each year for some reason. - - Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports. - - President Emmanuel Macron called the snap elections a week ago after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - Read more here. - - Monday: Earnings from Lennar and La-Z-Boy. Fed officials Patrick Harker and Lisa Cook deliver remarks. The New York Fed releases its Empire State Manufacturing Index for June. - - Tuesday: The Reserve Bank of Australia announces its latest interest rate decision. The US Commerce Department releases May figures on retail sales and reports business inventories in April. The Federal Reserve releases May data on industrial production. Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks. Japan releases May data on trade flows. - - Wednesday: The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June. - - Thursday: Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s. The Bank of England announces its latest interest rate decision. The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter. The US Labor Department reports on the number of new applications for unemployment in the week ending June 15. The Philadelphia Fed releases its Manufacturing Index for June. Richmond Fed President Tom Barkin delivers remarks. - - Friday: Earnings from CarMax. S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors. The National Association of Realtors reports existing home sales in May.",CNN,16/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society.', 'But that assertion may not be exactly right, according to ZipRecruiter’s chief economist.', '“Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year.', 'The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.', 'The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022.', 'Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic.', 'The rate at which Americans are quitting their jobs is also back to pre-pandemic levels.', 'It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020.', 'Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.”', 'However, the 2024 job market differs from 2019 in a few key ways.', 'And those factors may not change anytime soon.', 'Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market.', '(This interview has been edited for length and clarity.)', 'Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal?', 'Julia Pollak: No, I would say that this is not quite the same normal.', 'It’s a new normal, and there are some key differences.', 'We’re still adding employees faster than 2019.', 'But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower.', 'Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs.', 'Now, is that necessarily a bad thing?', 'It’s not clear.', 'Why is the job market slower now?', 'High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking.', 'They’re not hiring new grads at the same rate, they seem quite reluctant to do so.', 'It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates.', 'The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs.', 'People are eager to hang on to their job that gives them flexibility.', 'I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition.', 'Unlike in 2019, there is more remote work and more flexible work.', 'Remote and hybrid work are like five times bigger than they were before the pandemic.', 'That’s here to stay.', 'But what about this persistently wide gap between job openings and the number of unemployed folks seeking work?', 'I think there’s reason to believe the labor market is actually less tight now than it was in 2019.', 'The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.', 'You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey].', 'It seems like we are systematically over-counting openings by more and more each year for some reason.', 'Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports.', 'President Emmanuel Macron called the snap elections a week ago after his party lost to thefar right in a vote for EU lawmakers, a shock move thatrattledmarkets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.', 'Read more here.', 'Monday:Earnings from Lennar and La-Z-Boy.', 'Fed officials Patrick Harker and Lisa Cook deliver remarks.', 'The New York Fed releases its Empire State Manufacturing Index for June.', 'Tuesday:The Reserve Bank of Australia announces its latest interest rate decision.', 'The US Commerce Department releases May figures on retail sales and reports business inventories in April.', 'The Federal Reserve releases May data on industrial production.', 'Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks.', 'Japan releases May data on trade flows.', 'Wednesday:The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June.', 'Thursday:Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s.', 'The Bank of England announces its latest interest rate decision.', 'The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter.', 'The US Labor Department reports on the number of new applications for unemployment in the week ending June 15.', 'The Philadelphia Fed releases its Manufacturing Index for June.', 'Richmond Fed President Tom Barkin delivers remarks.', 'Friday:Earnings from CarMax.', 'S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors.', 'The National Association of Realtors reports existing home sales in May.']",0.0119642752697554,"There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.,-0.0309852843101208,"The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.",Why is the job market slower now?,2024-06-16 -Gas prices are cheaper than last summer and miles away from the nightmare of 2022,https://edition.cnn.com/2024/06/14/economy/gas-prices-down-since-last-summer/index.html," - Published - 6:30 AM EDT, Fri June 14, 2024 - ","Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally. - - The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets. It helped propel the national inflation rate to 9% for the first time since the early 1980s. - - “Five-dollar gas sent shockwaves through the system. No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy. - - Gas prices today are not cheap – but they are miles away from that point. - - The national average for regular gas stood at $3.46 a gallon on Thursday, according to AAA. Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year. - - “We’ve come a long way. We’re in a much healthier and balanced market than two years ago,” said De Haan. - - Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low. Even in June 2021, the national average was a bit lower, at about $3.08 a gallon. - - Gas prices peaked this spring at $3.68 a gallon on April 19. The fact that prices have moved steadily lower since then has helped take pressure off cash-strapped consumers. - - Cooler gas prices have also played a central role in helping to drive down inflation. - - The Bureau of Labor Statistics said this week that monthly consumer prices were unchanged between April and May for the first time in nearly two years. One of the biggest catalysts was the fact that prices at the pump have become cheaper. - - Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year. That, in turn, would give borrowers a break from historically high rates on mortgages, credit cards and car loans. - - There could be political implications, too. In part because they are so visible, gas prices play a key psychological role in how people feel about the economy. - - It’s not clear if voters will — or even should — credit the White House for falling gas prices. However, a spike to $4 would likely have negative consequences for President Joe Biden’s reelection campaign, since it would feed concerns about the high cost of living and further dent relatively low consumer confidence. - - “Gas prices are so central to how people think about their financial situation. They are the single most important variable in terms of how people are doing — especially low-income households,” said Mark Zandi, chief economist at Moody’s Analytics. - - Drivers in some states are paying much less than a year ago for gasoline, including Utah (69 cents), Washington (47 cents) and Idaho (38 cents). There are also significant 12-month price drops in some key battleground states such as Arizona (59 cents), Wisconsin (33 cents) and Nevada (24 cents), according to AAA. - - “As the summer driving season continues, Americans are seeing gas prices drop around the country,” White House spokesperson Angelo Fernández Hernández told CNN in a statement. “But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.” - - Many people may wish for the $2 gas prices of last decade. Of course, people are making more money than they were a decade ago, so it’s not a fair comparison. - - Yet, on an inflation-adjusted basis, gas prices are right in line with where they were before Covid. - - Real (inflation-adjusted) gas prices stood at $3.34 a gallon in June 2019 and $3.61 in June 2018, according to the US Energy Information Administration. The current national average of $3.46 is in the middle of that. - - Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.” - - Indeed, even though the oil industry frequently battles with the White House over regulation, US oil output is off the charts. - - Powered by the shale oil boom, the United States produced 13.2 million barrels of crude oil per day in March, according to federal statistics. That’s just shy of the record 13.3 million in November. - - “Just think about where gasoline prices would be without US shale,” said Rob Thummel, senior portfolio manager at energy investment firm Tortoise. - - Oil prices are higher than at this point last year, in part because OPEC+ continues to restrain production. That also reflects concerns about both the war in Ukraine and the Israel-Gaza war. - - Gas prices, however, have been guided lower by improving stockpiles of gasoline. - - “It’s all about inventories,” Thummel said. “Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season. That’s good news for consumers.” - - GasBuddy’s De Haan noted that gas prices have been on the low end of what his firm was forecasting for June, in part because fewer people are driving. - - If a hurricane or oil price shock is avoided, De Haan said gas prices should remain subdued. (Experts have forecast a hyperactive Atlantic hurricane season this year.) - - “It’s a good outcome — dare I say a better-than-expected outcome,” he said.",CNN,14/06/2024,"['Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally.', 'The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets.', 'It helped propel the national inflation rate to 9% for the first time since the early 1980s.', '“Five-dollar gas sent shockwaves through the system.', 'No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy.', 'Gas prices today are not cheap – but they are miles away from that point.', 'The national average for regular gas stood at $3.46 a gallon on Thursday, according to AAA.', 'Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year.', '“We’ve come a long way.', 'We’re in a much healthier and balanced market than two years ago,” said De Haan.', 'Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low.', 'Even in June 2021, the national average was a bit lower, at about $3.08 a gallon.', 'Gas prices peaked this spring at $3.68 a gallon on April 19.', 'The fact that prices have moved steadily lower since then has helped take pressure off cash-strapped consumers.', 'Cooler gas prices have also played a central role in helping to drive down inflation.', 'The Bureau of Labor Statistics said this week that monthly consumer prices were unchanged between April and May for the first time in nearly two years.', 'One of the biggest catalysts was the fact that prices at the pump have become cheaper.', 'Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year.', 'That, in turn, would give borrowers a break from historically high rates on mortgages, credit cards and car loans.', 'There could be political implications, too.', 'In part because they are so visible, gas prices play a key psychological role in how people feel about the economy.', 'It’s not clear if voters will — or even should — credit the White House for falling gas prices.', 'However, a spike to $4 would likely have negative consequences for President Joe Biden’s reelection campaign, since it would feed concerns about the high cost of living and further dent relatively low consumer confidence.', '“Gas prices are so central to how people think about their financial situation.', 'They are the single most important variable in terms of how people are doing — especially low-income households,” said Mark Zandi, chief economist at Moody’s Analytics.', 'Drivers in some states are paying much less than a year ago for gasoline, including Utah (69 cents), Washington (47 cents) and Idaho (38 cents).', 'There are also significant 12-month price drops in some key battleground states such as Arizona (59 cents), Wisconsin (33 cents) and Nevada (24 cents), according to AAA.', '“As the summer driving season continues, Americans are seeing gas prices drop around the country,” White House spokesperson Angelo Fernández Hernández told CNN in a statement. “', 'But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.”', 'Many people may wish for the $2 gas prices of last decade.', 'Of course, people are making more money than they were a decade ago, so it’s not a fair comparison.', 'Yet, on an inflation-adjusted basis, gas prices are right in line with where they were before Covid.', 'Real (inflation-adjusted) gas prices stood at $3.34 a gallon in June 2019 and $3.61 in June 2018, according to the US Energy Information Administration.', 'The current national average of $3.46 is in the middle of that.', 'Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.”', 'Indeed, even though the oil industry frequently battles with the White House over regulation, US oil output is off the charts.', 'Powered by the shale oil boom, the United States produced 13.2 million barrels of crude oil per day in March, according to federal statistics.', 'That’s just shy of the record 13.3 million in November.', '“Just think about where gasoline prices would be without US shale,” said Rob Thummel, senior portfolio manager at energy investment firm Tortoise.', 'Oil prices are higher than at this point last year, in part because OPEC+ continues to restrain production.', 'That also reflects concerns about both the war in Ukraine and the Israel-Gaza war.', 'Gas prices, however, have been guided lower by improving stockpiles of gasoline.', '“It’s all about inventories,” Thummel said. “', 'Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season.', 'That’s good news for consumers.”', 'GasBuddy’s De Haan noted that gas prices have been on the low end of what his firm was forecasting for June, in part because fewer people are driving.', 'If a hurricane or oil price shock is avoided, De Haan said gas prices should remain subdued. (', 'Experts have forecast a hyperactive Atlantic hurricane season this year.)', '“It’s a good outcome — dare I say a better-than-expected outcome,” he said.']",-0.0172441582978024,Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year.,That also reflects concerns about both the war in Ukraine and the Israel-Gaza war.,0.3638310879468918,"Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.”","Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year.",2024-06-16 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-06-16 -RV sales are picking up. That’s a good sign for the economy,https://edition.cnn.com/2024/06/16/economy/rv-sales-economy/index.html," - Published - 10:30 AM EDT, Sun June 16, 2024 - ","At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by. - - The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance. - - That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016. Bookings are light; plus, the people who are traveling are taking shorter trips, she said. - - “We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “I actually think it has a lot to do with people having less discretionary spending available.” - - She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.” - - On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism. - - The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether. - - When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. - - RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering. - - “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.” - - RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval. - - So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said. - - Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green. - - “We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call. - - The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet. - - “We’ve been able to get a little creative with it,” Shneyder said. “Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.” - - And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some. - - “We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “And so now we’ve rented it out for them.” - - Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said. - - The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said. - - “Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic. This ate into 2022 and 2023 sales.” - - RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association. - - By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000. - - Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA. In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said. - - Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows. - - Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data. That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion. - - Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added. - - The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units. That’s expected to grow next year to between 374,200 to 408,600. - - The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said. - - “We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.” - - To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana. - - The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.” Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart. - - “And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart. - - Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows. - - When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain. - - In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns. Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%. - - It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time. - - “Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “However, we haven’t seen any of the large job cuts we did during the Great Recession. [The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.” - - At the dealer level, there’s optimism as well. - - Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium. - - Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs. - - Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said. - - “Election years are always off, so we’ll be happy when we get through November,” he said. “Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past. It really doesn’t matter who wins, just as long as it’s done.” - - Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said. - - “You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.” - - He added: “Here in Elkhart it does seem business as usual. Could business be better? Of course it could. But could it be worse? It sure could.”",CNN,16/06/2024,"['At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by.', 'The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance.', 'That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016.', 'Bookings are light; plus, the people who are traveling are taking shorter trips, she said.', '“We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “', 'I actually think it has a lot to do with people having less discretionary spending available.”', 'She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.”', 'On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.', 'The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether.', 'When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.', 'RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering.', '“People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “', 'It’s so sensitive to interest rate changes, which often precede a downturn.”', 'RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval.', 'So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said.', 'Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green.', '“We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call.', 'The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet.', '“We’ve been able to get a little creative with it,” Shneyder said. “', 'Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.”', 'And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some.', '“We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “', 'And so now we’ve rented it out for them.”', 'Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said.', 'The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said.', '“Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “', 'So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic.', 'This ate into 2022 and 2023 sales.”', 'RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before.', 'They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.', 'By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000.', 'Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA.', 'In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said.', 'Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.', 'Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data.', 'That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion.', 'Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added.', 'The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units.', 'That’s expected to grow next year to between 374,200 to 408,600.', 'The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said.', '“We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “', 'Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.”', 'To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana.', 'The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.”', 'Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart.', '“And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart.', 'Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows.', 'When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.', 'In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns.', 'Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%.', 'It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time.', '“Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “', 'However, we haven’t seen any of the large job cuts we did during the Great Recession. [', 'The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.”', 'At the dealer level, there’s optimism as well.', 'Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium.', 'Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs.', 'Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said.', '“Election years are always off, so we’ll be happy when we get through November,” he said. “', 'Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past.', 'It really doesn’t matter who wins, just as long as it’s done.”', 'Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said.', '“You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “', 'I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.”', 'He added: “Here in Elkhart it does seem business as usual.', 'Could business be better?', 'Of course it could.', 'But could it be worse?', 'It sure could.”']",0.1770719017981792,"On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.","When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.",0.1214437454174726,"That’s expected to grow next year to between 374,200 to 408,600.","Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.",2024-06-16 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-06-16 -The complicated partnership between Apple and OpenAI,https://edition.cnn.com/2024/06/14/tech/apple-openai-partnership/index.html," - Published - 7:00 AM EDT, Fri June 14, 2024 - ","When OpenAI CEO Sam Altman attended Apple’s annual developer conference this week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak. Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year. - - But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person or via livestream. Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies. - - “I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “Apple had to manage the message carefully. OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience. Having him in the livestream would have only created an unnecessary level of confusion.” - - Earlier this week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall – the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence. - - The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry. - - The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership. OpenAI, along with other AI companies, continues to face concerns from researchers, industry experts and government officials around misinformation, biases, copyright, privacy and security, and more. The deal also comes at a time when the industry is moving quickly, and government regulators, companies and consumers are still figuring out how to engage with the technology responsibly. - - Apple hopes that a big push into AI could spur growth for iPhone sales as the device has languished without a major upgrade for years and users are now waiting longer to upgrade their devices as a result. An uncertain economic environment is also weighing on consumers, particularly in China. - - The company also faces regulatory scrutiny in Washington and was recently passed by chip maker Nvidia as the second-largest public company in the US. In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value. - - The timing is further noteworthy: Apple is not always first to adopt and integrate emerging technologies — it typically researches, develops and aims to perfect new tech for years before including it in new products — but the speed at which the world is adopting generative AI is perhaps expediting the company’s need to have a smartphone with the latest buzzy technology. - - “Apple needed to deliver an AI story and Apple Intelligence should help placate nervous investors and reassure them that Apple is keeping pace with its rivals,” Wood added. “The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.” - - But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs. Apple alignment with a company and a technology that have yet to win public trust could also cause some challenges down the road. - - Although Apple has been working on its own AI program for years, a partnership with OpenAI marks a way for it to fill in the competitive gaps. - - When a user has a question beyond Siri’s scope, ChatGPT can step in. In the demo following the keynote, Apple showed CNN how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner. Siri may suggest that the question is better suited for ChatGPT, and provide the user with a prompt to give consent to use the service. - - Apple using ChatGPT as a complimentary service could potentially cut down on risks associated with the company. It’s also very possible Apple could partner with other AI companies in the future too, such as Google’s Gemini or more niche providers with certain expertise, such as in healthcare. - - “I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. “If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.” - - Apple has been vocal about how it intends to keep user data private and secure when using its own proprietary technology, noting most AI functions will be done on the phone and inputs will be kept away from a far-off server cloud. - - “As we look to build in these incredible new capabilities, we want to ensure that the outcome reflects the principles at the core of our products, it has to be powerful enough to help with the things that matter most to you,” Cook said during the keynote. “It has to be intuitive and easy to use. It has to be deeply integrated into your product experiences.” - - “And, of course, it has to be built with privacy, from the ground up,” he added. - - Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account. And the repeated consent prompt to require users to opt into using ChatGPT with Siri is noteworthy too; each time Siri wants to kick over a question to ChatGPT, it’ll ask for permission first. - - Wood believes the consent prompts and other guardrails that Apple is implementing “reflect its nervousness.” - - Meanwhile, Reece Hayden, a principal analyst at ABI Research, told CNN that Apple’s approach is smart because it provides customers with a choice of how to deal with their data. - - “By providing a phased approach that blends ChatGPT and native capabilities, users will worry less about the partnership,” he said. “Apple can also continue to highlight their own AI capabilities and mitigate some of the risks of being associated with OpenAI, which remains in a state of flux.” - - Companies like OpenAI have acknowledged the serious risks posed by AI — from manipulation to a loss of control that could potentially result in human extinction — but many experts, researchers and AI employees believe they should be doing more to educate the public about risks and protective measures. Just last week, a group of OpenAI insiders demanded that artificial intelligence companies be far more transparent about the concerns over the technology they’re building. - - So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI. - - In a post to X Monday, Musk said he would ban Apple devices at his companies — which include Tesla, SpaceX and X, among others — if the iPhone maker went ahead with its AI plans. If Apple “integrates OpenAI at the (operating system) level,” Musk said that would constitute “an unacceptable security violation.” - - Although concerns over how employees are using AI models is a topic of worldwide discussion at the moment across many industries, Gartner analyst Annette Zimmermann said Musk’s reaction is a bit misdirected and the topic is not specific to iPhones. - - “Any employee with a smartphone should follow company policies and not enter any private information into the open domain of ChatGPT,” she said. “This is not specific to the iPhone … or Tesla.” - - Andrew Cornwall, senior analyst at Forrester, told CNN he thinks it’s unlikely that Apple users will become loyal to ChatGPT, as many people won’t use the service unless the iPhone maker can’t provide an appropriate response. - - “When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said. “Apple may switch providers or even use more than one third party — until it has mastered its own model. At that point, Apple will shut the garden gate.”",CNN,14/06/2024,"['When OpenAI CEO Sam Altman attended Apple’s annual developer conference this week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak.', 'Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year.', 'But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person or via livestream.', 'Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies.', '“I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “', 'Apple had to manage the message carefully.', 'OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience.', 'Having him in the livestream would have only created an unnecessary level of confusion.”', 'Earlier this week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall – the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence.', 'The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry.', 'The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership.', 'OpenAI, along with other AI companies, continues to face concerns from researchers, industry experts and government officials around misinformation, biases, copyright, privacy and security, and more.', 'The deal also comes at a time when the industry is moving quickly, and government regulators, companies and consumers are still figuring out how to engage with the technology responsibly.', 'Apple hopes that a big push into AI could spur growth for iPhone sales as the device has languished without a major upgrade for years and users are now waiting longer to upgrade their devices as a result.', 'An uncertain economic environment is also weighing on consumers, particularly in China.', 'The company also faces regulatory scrutiny in Washington and was recently passed by chip maker Nvidia as the second-largest public company in the US.', 'In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value.', 'The timing is further noteworthy: Apple is not always first to adopt and integrate emerging technologies — it typically researches, develops and aims to perfect new tech for years before including it in new products — but the speed at which the world is adopting generative AI is perhaps expediting the company’s need to have a smartphone with the latest buzzy technology.', '“Apple needed to deliver an AI story and Apple Intelligence should help placate nervous investors and reassure them that Apple is keeping pace with its rivals,” Wood added. “', 'The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.”', 'But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs.', 'Apple alignment with a company and a technology that have yet to win public trust could also cause some challenges down the road.', 'Although Apple has been working on its own AI program for years, a partnership with OpenAI marks a way for it to fill in the competitive gaps.', 'When a user has a question beyond Siri’s scope, ChatGPT can step in.', 'In the demo following the keynote, Apple showed CNN how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner.', 'Siri may suggest that the question is better suited for ChatGPT, and provide the user with a prompt to give consent to use the service.', 'Apple using ChatGPT as a complimentary service could potentially cut down on risks associated with the company.', 'It’s also very possible Apple could partner with other AI companies in the future too, such as Google’s Gemini or more niche providers with certain expertise, such as in healthcare.', '“I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. “', 'If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.”', 'Apple has been vocal about how it intends to keep user data private and secure when using its own proprietary technology, noting most AI functions will be done on the phone and inputs will be kept away from a far-off server cloud.', '“As we look to build in these incredible new capabilities, we want to ensure that the outcome reflects the principles at the core of our products, it has to be powerful enough to help with the things that matter most to you,” Cook said during the keynote. “', 'It has to be intuitive and easy to use.', 'It has to be deeply integrated into your product experiences.”', '“And, of course, it has to be built with privacy, from the ground up,” he added.', 'Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account.', 'And the repeated consent prompt to require users to opt into using ChatGPT with Siri is noteworthy too; each time Siri wants to kick over a question to ChatGPT, it’ll ask for permission first.', 'Wood believes the consent prompts and other guardrails that Apple is implementing “reflect its nervousness.”', 'Meanwhile, Reece Hayden, a principal analyst at ABI Research, told CNN that Apple’s approach is smart because it provides customers with a choice of how to deal with their data.', '“By providing a phased approach that blends ChatGPT and native capabilities, users will worry less about the partnership,” he said. “', 'Apple can also continue to highlight their own AI capabilities and mitigate some of the risks of being associated with OpenAI, which remains in a state of flux.”', 'Companies like OpenAI have acknowledged the serious risks posed by AI — from manipulation to a loss of control that could potentially result in human extinction — but many experts, researchers and AI employees believe they should be doing more to educate the public about risks and protective measures.', 'Just last week, a group of OpenAI insiders demanded that artificial intelligence companies be far more transparent about the concerns over the technology they’re building.', 'So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI.', 'In a post to X Monday, Musk said he would ban Apple devices at his companies — which include Tesla, SpaceX and X, among others — if the iPhone maker went ahead with its AI plans.', 'If Apple “integrates OpenAI at the (operating system) level,” Musk said that would constitute “an unacceptable security violation.”', 'Although concerns over how employees are using AI models is a topic of worldwide discussion at the moment across many industries, Gartner analyst Annette Zimmermann said Musk’s reaction is a bit misdirected and the topic is not specific to iPhones.', '“Any employee with a smartphone should follow company policies and not enter any private information into the open domain of ChatGPT,” she said. “', 'This is not specific to the iPhone … or Tesla.”', 'Andrew Cornwall, senior analyst at Forrester, told CNN he thinks it’s unlikely that Apple users will become loyal to ChatGPT, as many people won’t use the service unless the iPhone maker can’t provide an appropriate response.', '“When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said. “', 'Apple may switch providers or even use more than one third party — until it has mastered its own model.', 'At that point, Apple will shut the garden gate.”']",0.1264127176766117,"The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.”","But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs.",0.217459581115029,"In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value.","If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.”",2024-06-16 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-06-16 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-06-16 -Markets fear the French far right could trigger a financial crisis,https://edition.cnn.com/2024/06/14/investing/france-financial-crisis-elections/index.html," - Published - 10:24 AM EDT, Fri June 14, 2024 - ","Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy. - - President Emmanuel Macron called the snap elections Sunday after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - “If Le Pen calls the shots in parliament and pursues major parts of her expensive fiscal and protectionist ‘France first’ agenda, the result could be a Liz Truss-style financial crisis,” Berenberg economists wrote in a note Friday, adding that, for now, this was “a serious risk, not a forecast.” - - The British pound and UK government bonds sold off sharply in September 2022 after former Prime Minister Truss unveiled plans to increase borrowing to pay for tax cuts. Mortgage rates soared as investors demanded much higher premiums for owning UK debt. Truss resigned soon after, becoming the shortest-serving prime minister in British history. - - The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire. - - Asked Friday on franceinfo, a French radio station, whether the political turmoil triggered by Macron’s decision to call the snap elections could lead to a financial crisis, Le Maire replied “yes.” - - He noted that France now has to pay a higher interest rate than Portugal — one of the countries bailed out during the European debt crisis more than a decade ago — to borrow from investors. “This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said. - - Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries. In May, S&P downgraded the country’s long-term credit score to AA-, citing the “deterioration of (its) budgetary position,” though it still thought France had ample capacity to repay its debts. The agency said it expected the budget deficit to narrow to 3.5% of GDP in 2027, well above the 2.9% targeted by the current government. - - Markets are already roiled by the prospect of political upheaval. The yield, or the interest rate sought by investors, on France’s benchmark 10-year government bonds stood at 3.17% on Friday afternoon in Europe, compared with 3.15% for the Portuguese equivalent. - - In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017. The spread was widening even further Friday. - - Stock markets haven’t escaped. On Friday, France’s benchmark of 40 leading stocks fell much more than similar German and pan-European indexes. The euro has sagged this week too. - - An Elabe opinion poll for CNN affiliate BFMTV and La Tribune Dimanche showed Wednesday that Macron’s centrist bloc was on track to come only third in the first round of the elections on June 30, far behind the National Rally and an alliance of left-wing parties. - - The National Rally has promised to raise public spending and slash VAT on electricity and fuel. Le Maire said Friday that markets’ response to such measures would be: “I’m sorry but you don’t have the means to afford these expenses.” - - Likewise, speaking on a webinar Thursday, Frank Gill, a senior specialist in European sovereign ratings at S&P Global Ratings, said the policies advocated by the National Rally “could further drag on public finances” and “would be a consideration for the sovereign rating.” - - And Moody’s said in a note Monday that the snap elections increased the risks to fiscal consolidation in France, “a credit negative.” - - The European Central Bank “would have the means to prevent any genuine crisis” in the French government bond market, a Berenberg note said earlier this week. But “akin to the sequence of events in the erstwhile euro crisis, the ECB may only deploy its instruments — or announce that it could do so — if and when the country in question has returned to sounder fiscal policies.” - - Joseph Ataman in Paris and Mark Thompson in London contributed reporting.",CNN,14/06/2024,"['Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy.', 'President Emmanuel Macron called the snap elections Sunday after his party lost to thefar right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally,the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5%of GDP last year.', '“If Le Pen calls the shots in parliament and pursues major parts of her expensive fiscal and protectionist ‘France first’ agenda, the result could be a Liz Truss-style financial crisis,” Berenberg economists wrote in a note Friday, adding that, for now, this was “aserious risk, not a forecast.”', 'The British pound and UK government bonds sold off sharply in September 2022 after former Prime Minister Truss unveiled plans to increase borrowing to pay for tax cuts.', 'Mortgage rates soared as investors demanded much higher premiums for owning UK debt.', 'Truss resigned soon after, becoming the shortest-serving prime minister in British history.', 'The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire.', 'Asked Friday on franceinfo, a French radio station, whether the political turmoil triggered by Macron’sdecision to call the snap elections could lead to a financial crisis,Le Mairereplied “yes.”', 'He noted that France now has to pay a higher interest rate than Portugal — one of the countries bailed out during the European debt crisis more than a decade ago — to borrow from investors. “', 'This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said.', 'Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries.', 'In May, S&Pdowngradedthe country’s long-term credit score to AA-, citing the “deterioration of (its) budgetary position,” though it still thought France had ample capacity to repay its debts.', 'The agency said it expected the budget deficit to narrow to 3.5% of GDP in 2027, well above the 2.9% targeted by the current government.', 'Markets are already roiled by the prospect of political upheaval.', 'The yield, or the interest rate sought by investors, on France’s benchmark 10-year government bonds stood at 3.17% on Friday afternoon in Europe, compared with 3.15% for the Portuguese equivalent.', 'In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017.', 'The spread was widening even further Friday.', 'Stock markets haven’t escaped.', 'On Friday, France’s benchmark of 40 leading stocks fell much more than similar German and pan-European indexes.', 'The euro has sagged this week too.', 'An Elabe opinion poll for CNN affiliate BFMTV and La Tribune Dimanche showed Wednesday that Macron’s centrist bloc was on track to come only third in the first round of the elections on June 30, far behind the National Rally and an alliance of left-wing parties.', 'The National Rally has promised to raise public spending and slash VAT on electricity and fuel.', 'Le Maire said Friday that markets’ response to such measures would be: “I’m sorry but you don’t have the means to afford these expenses.”', 'Likewise, speaking on a webinar Thursday, Frank Gill, a senior specialist in European sovereign ratings at S&P Global Ratings, said the policies advocated by the National Rally “could further drag on public finances” and “would be a consideration for the sovereign rating.”', 'And Moody’s said in a note Monday that the snap elections increased the risks to fiscal consolidation in France, “a credit negative.”', 'The European Central Bank “would have the means to prevent any genuine crisis” in the French government bond market, a Berenberg note said earlier this week.', 'But “akin to the sequence of events in the erstwhile euro crisis, the ECB may only deploy its instruments —or announce that it could do so—if and when the country in question has returned to sounder fiscal policies.”', 'Joseph Ataman in Paris and Mark Thompson in London contributed reporting.']",-0.1471924624032987,"There has been widespread speculation since then that the National Rally,the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5%of GDP last year.,-0.5014126747846603,"In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017.",The euro has sagged this week too.,2024-06-16 -The good economic news this week was just that … good news,https://edition.cnn.com/2024/06/15/economy/good-news-inflation-may/index.html," - Published - 9:30 AM EDT, Sat June 15, 2024 - ","“Good news is bad news” has been a common refrain for a while now. - - When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. - - This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire. - - “What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.” - - He added: “That is good news.” - - This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory. - - And it sure did deliver. - - On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation. - - On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well). - - But those data points were small fry as to what would come Wednesday. - - Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. On an annual basis, consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, - - Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled. Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low. - - “The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said. - - The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September. - - The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December. - - The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. - - Excluding gas prices, imports still fell 0.3%. - - “Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.” - - “We would not rule out a first rate cut in September; the market is not,” Rupkey wrote. - - And more good news is likely on the way this next week and later this month, Brusuelas said. - - Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report. Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month. - - “There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",CNN,15/06/2024,"['“Good news is bad news” has been a common refrain for a while now.', 'When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts.', 'This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire.', '“What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “', 'And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.”', 'He added: “That is good news.”', 'This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory.', 'And it sure did deliver.', 'On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.', 'On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).', 'But those data points were small fry as to what would come Wednesday.', 'Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022.', 'On an annual basis, consumer prices rose 3.3% from a year earlier,slowing from April’s 3.4% rate, Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled.', 'Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low.', '“The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said.', 'The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September.', 'The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December.', 'The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.', 'Excluding gas prices, imports still fell 0.3%.', '“Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “', 'Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.”', '“We would not rule out a first rate cut in September; the market is not,” Rupkey wrote.', 'And more good news is likely on the way this next week and later this month, Brusuelas said.', 'Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report.', 'Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month.', '“There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “', 'At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”']",0.1520506693033568,"On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.","At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",0.2949928978215093,"On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).","The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.",2024-06-16 -China’s record heat and heavy rain raise food security concerns,https://edition.cnn.com/2024/06/14/business/china-record-heat-rain-food-security-intl-hnk/index.html," - Published - 7:23 AM EDT, Fri June 14, 2024 - ","China is grappling with extreme weather as severe drought and record temperatures scorch the north while heavy rains inundate the south, raising concerns about food security in the world’s second-largest economy. - - Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons. - - The Ministry of Agriculture said Thursday that drought and heat have had an adverse impact on the planting season in some northern and central provinces, and it warned that temperatures were expected to surpass 35 Celsius (95 Fahrenheit) in the coming days. - - An emergency alert covering at least seven provinces, including the major agricultural regions of Henan and Shandong, was already in place because of dry, hot conditions. - - “The recent persistently high temperatures have accelerated the loss of water in the soil and (caused) drought in some areas, which has negatively affected the summer sowing season,” the ministry said in a statement. “The drought is likely to continue and the task of protecting the summer planting season is difficult.” - - In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday. - - Parts of the country are experiencing a major heat wave. - - The China Meteorological Administration (CMA) said on Wednesday that 28 regional weather stations broke their respective records for the highest temperature ever recorded in mid June. The city of Fenyang in the northern province of Shanxi registered its highest temperature ever recorded at 40.2 degrees Celsius (104 Fahrenheit). - - China had its hottest spring on record this year. The national average temperature between March and May reached 12.3 degrees Celsius, the highest since records began in 1961, with 12 national meteorological stations registering temperatures reaching or surpassing records, according to the National Climate Center. Last year was the country’s hottest year on record. - - Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours. - - In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas. It made a series of recommendations on reducing damage to growing “early rice” saplings, which are planted in March and harvested in June. - - The CMA said on Thursday that heavy rainfall had occurred in the Zhejiang, Fujian, Jiangxi, Hunan, Guangxi and Guizhou regions — some of them major manufacturing and industrial centers. Hunan and Jiangxi are two of China’s biggest rice producers. - - China’s State Flood Control and Drought Relief Headquarters, a national coordination agency, issued an emergency response to both the flooding in the south and the drought in the north on Thursday, warning of a high risk of flash floods and geologic hazards. - - These rains appear to be related to a seasonal monsoon pattern that can lead to intense showers over short periods.",CNN,14/06/2024,"['China is grappling with extreme weather as severe drought and record temperatures scorch the north while heavy rains inundate the south, raising concerns about food security in the world’s second-largest economy.', 'Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons.', 'The Ministry of Agriculture said Thursday that drought and heat have had an adverse impact on the planting season in some northern and central provinces, and it warned that temperatures were expected to surpass 35 Celsius (95 Fahrenheit) in the coming days.', 'An emergency alert covering at least seven provinces, including the major agricultural regions of Henan and Shandong, was already in place because of dry, hot conditions.', '“The recent persistently high temperatures have accelerated the loss of water in the soil and (caused) drought in some areas, which has negatively affected the summer sowing season,” the ministry said in a statement. “', 'The drought is likely to continue and the task of protecting the summer planting season is difficult.”', 'In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday.', 'Parts of the country are experiencing a major heat wave.', 'The China Meteorological Administration (CMA) said on Wednesday that 28 regional weather stations broke their respective records for the highest temperature ever recorded in mid June.', 'The city of Fenyang in the northern province of Shanxi registered its highest temperature ever recorded at 40.2 degrees Celsius (104 Fahrenheit).', 'China had its hottest spring on record this year.', 'The national average temperature between March and May reached 12.3 degrees Celsius, the highest since records began in 1961, with 12 national meteorological stations registering temperatures reaching or surpassing records, according tothe National Climate Center.', 'Last year was the country’s hottest year on record.', 'Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours.', 'In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas.', 'It made a series of recommendations on reducing damage to growing “early rice” saplings, which are planted in March and harvested in June.', 'The CMA said on Thursday that heavy rainfall had occurred in the Zhejiang, Fujian, Jiangxi, Hunan, Guangxi and Guizhou regions — some of them major manufacturing and industrial centers.', 'Hunan and Jiangxi are two of China’s biggest rice producers.', 'China’s State Flood Control and Drought Relief Headquarters, a national coordination agency, issued an emergency response to both the flooding in the south and the drought in the north on Thursday, warning of a high risk of flash floods and geologic hazards.', 'These rains appear to be related to a seasonal monsoon pattern that can lead to intense showers over short periods.']",-0.1170417778326626,"Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours.","Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons.",-0.2249909825623035,"In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas.","In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday.",2024-06-16 -‘Just too burnt out’: Child care crisis crunches providers,https://edition.cnn.com/2024/06/15/business/child-care-crisis-providers/index.html," - Published - 9:00 AM EDT, Sat June 15, 2024 - ","For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work. - - “Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “And my response is always, ‘Well, I can’t do what you do either! So I’ll watch your kids and you go do that, because I’m better at this.’” - - Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks. She announced in May that she’s closing her doors before the end of August. - - “It’s emotionally and physically and mentally demanding,” Elandt says. “There’s not benefits. The pay is not anywhere near what it should be. And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.” - - Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike. - - Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia. The report looked at care for an infant and a 4-year-old. - - While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable. Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food. Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge. - - “If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says. - - The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay. Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. - - “It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure. - - The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies. Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic. - - The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.” - - An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act. Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat. - - Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden. She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff. In some cases the higher wages weren’t enough. A few months ago, she says, one of her employees left for a factory: “She needed to make a living.” - - The stresses of managing a tight budget and dealing with staff turnover have taken a toll.Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged. In May, she made the formal announcement that this summer would be the center’s last. - - The news left families and staff scrambling. Higgins, who is also a parent at My First Adventure, described the moment as “panic.” - - As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge. - - “It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “I think everybody was really aware during the height of the pandemic, with the critical workers and things like that. I don’t know if that has started to fade out for people.” - - The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership. As it stands, My First Adventure is expected to close in July. - - This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher. Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions. - - “We are literally shaping tomorrow’s youth,” Higgins says. “I think that needs to start being reflected in compensation and policies and where government funding is being directed.”",CNN,15/06/2024,"['For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work.', '“Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “', 'And my response is always, ‘Well, I can’t do what you do either!', 'So I’ll watch your kids and you go do that, because I’m better at this.’”', 'Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks.', 'She announced in May that she’s closing her doors before the end of August.', '“It’s emotionally and physically and mentally demanding,” Elandt says. “', 'There’s not benefits.', 'The pay is not anywhere near what it should be.', 'And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.”', 'Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike.', 'Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latestannual report.', 'Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state.', 'And the tab exceeded annualtypicalmortgage payments in 45 states, plus the District of Columbia.', 'The report looked at care for an infant and a 4-year-old.', 'While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable.', 'Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food.', 'Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge.', '“If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says.', 'The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high.', 'The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay.', 'Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants.', 'The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics.', '“It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure.', 'The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.', 'Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic.', 'The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children.', 'But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.”', 'An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.', 'Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat.', 'Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden.', 'She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.', 'In some cases the higher wages weren’t enough.', 'A few months ago, she says, one of her employees left for a factory: “She needed to make a living.”', 'The stresses of managing a tight budget and dealing with staff turnover have taken a toll.', 'Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged.', 'In May, she made the formal announcement that this summer would be the center’s last.', 'The news left families and staff scrambling.', 'Higgins, who is also a parent at My First Adventure, described the moment as “panic.”', 'As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge.', '“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “', 'I think everybody was really aware during the height of the pandemic, with the critical workers and things like that.', 'I don’t know if that has started to fade out for people.”', 'The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership.', 'As it stands, My First Adventure is expected to close in July.', 'This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher.', 'Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions.', '“We are literally shaping tomorrow’s youth,” Higgins says. “', 'I think that needs to start being reflected in compensation and policies and where government funding is being directed.”']",0.1751321793448637,"An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.","“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “",-0.2154543910707746,"The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.",She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.,2024-06-16 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-06-16 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-06-16 -"Maker of Jeep and Dodge plans to kill chrome on cars, citing risks to those who make it",https://edition.cnn.com/2024/06/14/cars/chrome-cars-stellantis-jeep-volkswagen-vw/index.html," - Published - 7:30 AM EDT, Fri June 14, 2024 - ","Chrome’s century-long reign as that added bit of flash and glamour on new cars may be coming to an end. For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal. - - Chrome has long provided an eye-catching sparkle, creating an upscale look while also protecting unpainted metal car parts from corrosion. It’s served as a by-word for (especially American) automotive opulence. - - “Chrome on a car is the automotive equivalent of using jewelry on an outfit,” said Leslie Kendall, head curator of the Petersen Automotive Museum in Los Angeles. - - But Stellantis – the company that makes Dodge, Jeep, Ram, Fiat, and Maserati vehicles – among others, is committed to doing away with chrome on all its new models. - - The plan even has a name. Inside Stellantis, it’s called “Death of Chrome,” said Stellantis’s chief global designer, Ralph Gilles. Stellantis vehicles, including its newest Jeep model, will sport badges and trim pieces that may not have chrome’s mirror-like shine but customers will come to like them even better, Gilles promises. - - “Death of Chrome” comes in response to chrome plating’s lesser-known dark side. Hexavalent chromium, or “chromium 6,” the form of the element chromium involved in the plating process, is an aggressive cancer-causing agent, according to government regulators in the United States and Europe. - - “Hexavalent chromium is a carcinogen that is the second most potent toxic air contaminant identified by the state,” the California Air Resources Board said in a statement provided to CNN. “It is 500 times more toxic than diesel exhaust and has no known safe level of exposure.” - - This does not mean that the chrome-plated parts on your car or motorcycle are dangerous. The metallic form of chrome that provides the mirror shine on a car brand’s logo or trim is perfectly safe. The risk to human health comes during the electro-plating process, regulators say, when the hexavalent chromium that is used can come into contact with workers or be released into the atmosphere. - - Chrome platers have methods to contain the vapors and minimize human exposure. Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years. But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods. - - Hexavalent chromium is used in a number of different industries besides automotive. It’s also used to increase the hardness of steel, for instance, and as an anti-corrosive agent added to paints, according to the Occupational Safety and Health Administration. In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business. In that case, a Michigan environmental agency cleaned up the toxic mess. - - The National Association for Surface Finishing, an industry organization representing chrome platers, among others, said their industry has made a lot of progress to keep chrome plating safe for workers and the environment but acknowledged alternatives are needed. - - “Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately 99.9% reduction in hexavalent chromium air emissions since 1995 to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “NASF is working in partnership with the automotive industry to ensure a transition to the safest and most sustainable alternatives and replacements.” - - There are are less dangerous alternatives, Gilles said, but, for now, at least, they either don’t look as good as traditional chrome plate, don’t last as long, or are prohibitively expensive for mass production vehicles. For instance, trivalent chrome uses a different form of chromium and a simpler process. - - “The problem is the luster isn’t as good. It has a more yellow kind of finish,” Gilles said. “Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it. They don’t realize what they’re looking at, but they’ve come to love it. We have to make them unlove it.” - - The best way to do that, said Gilles, will be to entice car buyers with styles and designs that don’t use chrome at all, or anything like it. There are the extremely popular “blackout packages” that are already available as an option on most Stellantis models. These replace all the exterior “brightwork,” like chrome badges and grilles, with matte black pieces for a dark, sinister look. - - “Sometimes people go and personally convert their cars to blackout packages,” Gilles said. “They call it ‘murdered out’ on the street.” - - Years ago, Gilles even did it to his own 2016 Chrysler minivan creating a look that eventually came to market as the Chrysler Pacifica S Package with a black grille and a black-winged Chrysler logo. - - Black’s not the only option, though. The “murdered out” look doesn’t work for everyone. - - “Sometimes a vehicle can look a little bit ‘triste,’ as they say in French, sad, when it’s all black,” said Gilles. - - Polished stainless steel looks a lot like chrome but it’s expensive. Satin steel with a dull finish looks refined and is less expensive. Mixing different tones and textures can be even better, Gilles said. - - “Sometimes you don’t want a very holistic, black and white type of contrast. Sometimes a tonal contrast is even more attractive,” Gilles said. “So we’re using bronzes and silvers and graphites where chrome used to be, to create that offset.” - - Stellantis has, for years, been trying out chrome alternatives on special edition models that, generally, have done even better than expected with consumers. It’s a good sign that car buyers are ready for something different. - - The upcoming Jeep Wagoneer S electric SUV will be one of the first Stellantis models to sport some of these new looks. It will have no chrome at all, even as an option. The same will be true on all Stellantis’s other new models, Gilles said. - - A spokesperson for Volkswagen Group’s design department – VW Group operates various brands including Audi and Bentley – said VW is also looking at alternatives to hexavalent chrome as its use becomes more strictly curtailed in various markets, including Europe. VW designers are working with finishes of various tones and textures to accent different models. - - “We are also using light as the new chrome,” VW said in a statement shared with CNN. “Light gives us more possibilities in both exterior and interior applications.” - - Already, many VW models sport round VW logos that glow at night. Stellantis has also used glowing badges on some of its concept vehicles. - - It helps that the use of chrome on modern cars is already much reduced from its glaring peaks. Chrome first started appearing on cars in the 1920s as a shinier and easier to maintain alternative to nickel and, before that, brass, said the Petersen Museum’s Kendall. - - After a few decades, it reached a “more is always better” apotheosis around the same time cars sprouted fins, Gilles said. - - “Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills. They couldn’t use enough chrome,” he said. “They threw as much chrome as they could at it, and we’ve been weaning ourselves from it.”",CNN,14/06/2024,"['Chrome’s century-long reign as that added bit of flash and glamour on new cars may be coming to an end.', 'For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal.', 'Chrome has long provided an eye-catching sparkle, creating an upscale look while also protecting unpainted metal car parts from corrosion.', 'It’s served as a by-word for (especially American) automotive opulence.', '“Chrome on a car is the automotive equivalent of using jewelry on an outfit,” said Leslie Kendall, head curator of the Petersen Automotive Museum in Los Angeles.', 'But Stellantis – the company that makes Dodge, Jeep, Ram, Fiat, and Maserati vehicles – among others, is committed to doing away with chrome on all its new models.', 'The plan even has a name.', 'Inside Stellantis, it’s called “Death of Chrome,” said Stellantis’s chief global designer, Ralph Gilles.', 'Stellantis vehicles, including its newest Jeep model, will sport badges and trim pieces that may not have chrome’s mirror-like shine but customers will come to like them even better, Gilles promises.', '“Death of Chrome” comes in response to chrome plating’s lesser-known dark side.', 'Hexavalent chromium, or “chromium 6,” the form of the element chromium involved in the plating process, is an aggressive cancer-causing agent, according to government regulators in the United States and Europe.', '“Hexavalent chromium is a carcinogen that is the second most potent toxic air contaminant identified by the state,” the California Air Resources Board said in a statement provided to CNN. “', 'It is 500 times more toxic than diesel exhaust and has no known safe level of exposure.”', 'This does not mean that the chrome-plated parts on your car or motorcycle are dangerous.', 'The metallic form of chrome that provides the mirror shine on a car brand’s logo or trim is perfectly safe.', 'The risk to human health comes during the electro-plating process, regulators say, when the hexavalent chromium that is used can come into contact with workers or be released into the atmosphere.', 'Chrome platers have methods to contain the vapors and minimize human exposure.', 'Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years.', 'But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods.', 'Hexavalent chromium is used in a number of different industries besides automotive.', 'It’s also used to increase the hardness of steel, for instance, and as an anti-corrosive agent added to paints, according to the Occupational Safety and Health Administration.', 'In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business.', 'In that case, a Michigan environmental agency cleaned up the toxic mess.', 'The National Association for Surface Finishing, an industry organization representing chrome platers, among others, said their industry has made a lot of progress to keep chrome plating safe for workers and the environment but acknowledged alternatives are needed.', '“Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately99.9%reduction in hexavalent chromiumair emissions since 1995to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “', 'NASF is working in partnership with the automotive industry to ensure a transition to the safest and most sustainablealternatives and replacements.”', 'There are are less dangerous alternatives, Gilles said, but, for now, at least, they either don’t look as good as traditional chrome plate, don’t last as long, or are prohibitively expensive for mass production vehicles.', 'For instance, trivalent chrome uses a different form of chromium and a simpler process.', '“The problem is the luster isn’t as good.', 'It has a more yellow kind of finish,” Gilles said. “', 'Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it.', 'They don’t realize what they’re looking at, but they’ve come to love it.', 'We have to make them unlove it.”', 'The best way to do that, said Gilles, will be to entice car buyers with styles and designs that don’t use chrome at all, or anything like it.', 'There are the extremely popular “blackout packages” that are already available as an option on most Stellantis models.', 'These replace all the exterior “brightwork,” like chrome badges and grilles, with matte black pieces for a dark, sinister look.', '“Sometimes people go and personally convert their cars to blackout packages,” Gilles said. “', 'They call it ‘murdered out’ on the street.”', 'Years ago, Gilles even did it to his own 2016 Chrysler minivan creating a look that eventually came to market as the Chrysler Pacifica S Package with a black grille and a black-winged Chrysler logo.', 'Black’s not the only option, though.', 'The “murdered out” look doesn’t work for everyone.', '“Sometimes a vehicle can look a little bit ‘triste,’ as they say in French, sad, when it’s all black,” said Gilles.', 'Polished stainless steel looks a lot like chrome but it’s expensive.', 'Satin steel with a dull finish looks refined and is less expensive.', 'Mixing different tones and textures can be even better, Gilles said.', '“Sometimes you don’t want a very holistic, black and white type of contrast.', 'Sometimes a tonal contrast is even more attractive,” Gilles said. “', 'So we’re using bronzes and silvers and graphites where chrome used to be, to create that offset.”', 'Stellantis has, for years, been trying out chrome alternatives on special edition models that, generally, have done even better than expected with consumers.', 'It’s a good sign that car buyers are ready for something different.', 'The upcoming Jeep Wagoneer S electric SUV will be one of the first Stellantis models to sport some of these new looks.', 'It will have no chrome at all, even as an option.', 'The same will be true on all Stellantis’s other new models, Gilles said.', 'A spokesperson for Volkswagen Group’s design department – VW Group operates various brands including Audi and Bentley – said VW is also looking at alternatives to hexavalent chrome as its use becomes more strictly curtailed in various markets, including Europe.', 'VW designers are working with finishes of various tones and textures to accent different models.', '“We are also using light as the new chrome,” VW said in a statement shared with CNN. “', 'Light gives us more possibilities in both exterior and interior applications.”', 'Already, many VW models sport round VW logos that glow at night.', 'Stellantis has also used glowing badges on some of its concept vehicles.', 'It helps that the use of chrome on modern cars is already much reduced from its glaring peaks.', 'Chrome first started appearing on cars in the 1920s as a shinier and easier to maintain alternative to nickel and, before that, brass, said the Petersen Museum’s Kendall.', 'After a few decades, it reached a “more is always better” apotheosis around the same time cars sprouted fins, Gilles said.', '“Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills.', 'They couldn’t use enough chrome,” he said. “', 'They threw as much chrome as they could at it, and we’ve been weaning ourselves from it.”']",0.1321109771911105,"Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it.",But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods.,0.550424709039576,"“Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately99.9%reduction in hexavalent chromiumair emissions since 1995to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “","For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal.",2024-06-16 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-06-16 -Ford ends EV dealership program that required hefty investment to sell electric models,https://www.cnbc.com/2024/06/13/ford-ends-ev-dealership-program.html,2024-06-13T14:13:20+0000,"In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks. That optimism, however, has not panned out as expected.EV sales for Ford and other automakers are growing but at a far slower pace than many expected. That's led to automakers delaying or canceling future electric vehicles and investments.""The world has changed,"" Marin Gjaja, chief operating officer of Ford's Model E electric vehicle business, said Thursday during a media briefing. ""The growth has slowed down.""Gjaja said the Model e Dealership Program, which included about half of Ford's 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers. The company had faced lawsuits from dealers over the program.Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks. ""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""We think it's going to help us grow our sales.""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.Gjaja said those initial estimates were high. He said dealers who participated in the full program invested about $600,000 on average.",CNBC,13/06/2024,"['In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.', 'The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks.', 'That optimism, however, has not panned out as expected.', 'EV sales for Ford and other automakers are growing but at a far slower pace than many expected.', ""That's led to automakers delaying or canceling future electric vehicles and investments."", '""The world has changed,"" Marin Gjaja, chief operating officer of Ford\'s Model E electric vehicle business, said Thursday during a media briefing. ""', 'The growth has slowed down.', '""Gjaja said the Model e Dealership Program, which included about half of Ford\'s 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers.', 'The company had faced lawsuits from dealers over the program.', 'Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks.', '""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""', ""We think it's going to help us grow our sales."", '""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.', 'Gjaja said those initial estimates were high.', 'He said dealers who participated in the full program invested about $600,000 on average.']",0.0858025423727656,"That optimism, however, has not panned out as expected.",In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.,0.5176552004284329,We think it's going to help us grow our sales.,The growth has slowed down.,2024-06-16 -Sony Pictures is buying Alamo Drafthouse theater chain,https://www.cnbc.com/2024/06/12/sony-pictures-buys-alamo-drafthouse.html,2024-06-13T03:13:23+0000,"In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas. It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.However the decree only affected some studios. While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater. It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The Egyptian Theatre and New York's Paris Theater.Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas.""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. It was rescued by a private equity firm. However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.",CNBC,13/06/2024,"['In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.', ""This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas."", 'It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.', 'However the decree only affected some studios.', 'While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.', ""Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater."", ""It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The EgyptianTheatre and New York's Paris Theater."", 'Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division.', ""The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas."", '""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.', 'The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.', 'The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.', 'It was rescued by a private equity firm.', 'However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.', '""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""', 'We were created by film lovers for film lovers.', 'We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience.', 'Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.', '""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.']",0.2755990695936975,Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.,The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.,0.9728320717811584,"""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.",,2024-06-16 -Fed decision buys more time for savers to profit from high interest rates,https://edition.cnn.com/2024/06/12/success/saving-under-high-interest-rates/index.html," - Updated - 3:21 PM EDT, Wed June 12, 2024 - ","Editor’s Note: This is an updated version of an article that originally ran on May 1. - - As was widely expected, the Federal Reserve left its benchmark interest rate unchanged for its seventh meeting in a row on Wednesday. - - People carrying variable-rate debt like credit cards and those seeking a loan won’t be happy given that the Fed’s rate, which directly and indirectly affects consumers’ borrowing costs, remains at a 23-year high. - - Those rates will likely stay high for a while. At this point, only one cut is seen as likely before the end of the year, according to US central bankers’ latest summary of economic projections. But whenever the cuts start, they may be small. - - “Absent a complete about-face from the economy, interest rates aren’t likely to come down soon enough, or fast enough, to provide meaningful relief to borrowers. Utilize zero-percent credit card balance transfer offers, shop around for lower fixed-rate personal loans and home equity loans, and channel as much income as possible toward paying down this debt as quickly as possible,” said Greg McBride, Bankrate.com’s chief financial analyst. - - But the Fed’s decision leaves savers, once again, in the catbird seat when it comes to making money on their money. - - “Savers are enjoying the best returns on savings accounts and CDs in more than 15 years, with the most competitive offers outpacing inflation. In addition, these conditions are poised to persist for the foreseeable future,” McBride said. - - The best bang for your savings can still be had in online high-yield savings accounts at FDIC-insured banks, which yield way more than today’s 0.58% overall average savings rate. - - As of June 11, the average online savings account rate was 4.40%, according to DepositAccounts.com. And many online high-yield accounts continue to offer rates of 5% or more. - - Say you have $10,000 in savings. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. If you put it instead in a 5% high-yield account, you’ll get $500. - - A high-yield savings account is the best place to park money you’ll need to cover emergencies as well as anticipated large expenses that you have to pay in the next three months to a year. - - As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. And you can be sure they will do just that when the Fed looks like it will finally start cutting rates, McBride said. - - But, he added, since rates are likely to be cut in small increments, online high-yield savings accounts may continue to offer inflation-beating returns for some time. - - “They will still offer the best way to preserve your [money’s] buying power,” McBride said. - - Money market deposit accounts and money market mutual funds are generating yields competitive with the best high-yield savings accounts. But there are important differences. - - Money market deposit accounts are bank products. So, assuming your bank is FDIC insured, your account is too. (Or, if your account is at a federally backed credit union, your money will be insured by the National Credit Union Share Insurance Fund.) - - As with high-yield accounts, you may get the best deals at an online bank. But money market accounts may have a higher minimum deposit requirement than a high-yield account. - - Money market funds, by contrast, are an investment product — they generate return by investing in short-term, low-risk debt instruments and are currently yielding an average of 5.12%, according to the Crane 100 Money Fund Index. Such funds are a good place to park cash you have in your brokerage account that you may want to use at some point to buy equities or bonds, McBride said. Money market funds are not FDIC-insured, but any brokerage you use should be insured by the Securities Investor Protection Corporation, which covers your funds up to a limit if your brokerage ever goes under. - - CDs are still a great place to park any money you can leave untouched for a fixed period of time — anywhere from a few months to five years or longer. - - As of June 11, the average rate was 4.971% on an online one-year CD, and 3.815% on a five-year CD, according to DepositAccounts.com. - - While your brick-and-mortar bank may offer a CD at a good rate, you may get a better one shopping around. The easiest way to do that without having to set up an additional account at another bank is to shop for CDs through your online brokerage, which is likely to offer a wide array of CDs from many different banks. - - At Schwab.com, for instance, CDs on offer ranging in duration from three months all the way up to 10 years offered average annual returns over 5%, with most ranging between 5.30% and 5.45%. The highest annual average was 5.56% for a three-month CD. - - If you have to withdraw money before the end of a CD’s term, you can always get all of your principal back but may forfeit some of the interest earned as an early withdrawal penalty. - - Beyond deposit accounts, investing in short-term Treasury bills and intermediate-term Treasury notes has been another way to earn a competitive return with virtually no risk since Treasuries are backed by the full faith and credit of the United States. - - Treasury bills come in six different maturities: 4 weeks, 8 weeks, 13 weeks, 17 weeks, 26 weeks and 52 weeks. Treasury notes mature in two, three, five, seven or 10 years. - - “As long as the Fed holds its rate in the 5.25% to 5.5% range, we expect most Treasury bill yields to hover around 5.25% as well,” said Collin Martin, fixed income strategist at the Schwab Center for Financial Research. - - But, Martin added, “While the timing of rate cuts has been pushed back, we still expect them to arrive later this year, and investors in short-term investments would likely face reinvestment risk.” - - That’s why he suggests investors consider buying some intermediate-term investments now before rates are cut if they want to lock in a higher yield for some of their money, such as Treasury notes maturing in the next four to 10 years. - - On Wednesday, yields on Treasury bills were north of 5% and yields on Treasury notes were north of 4%, according to Schwab.com. - - When deciding whether it makes sense to invest in a CD or a Treasury for the same duration, you might opt for the Treasury if you live in a high-tax state, McBride suggested, since interest on Treasuries is exempt from state and local taxes. - - In all instances, the easiest way to purchase Treasuries and other bonds is to do so through your brokerage account.",CNN,12/06/2024,"['Editor’s Note: This is an updated version of an article that originally ran on May 1.', 'As was widely expected, the Federal Reserve left its benchmark interest rate unchanged for its seventh meeting in a row on Wednesday.', 'People carrying variable-rate debt like credit cards and those seeking a loan won’t be happy given that the Fed’s rate, which directly and indirectly affects consumers’ borrowing costs, remains at a 23-year high.', 'Those rates will likely stay high for a while.', 'At this point, only one cut is seen as likely before the end of the year, according to US central bankers’ latest summary of economic projections.', 'But whenever the cuts start, they may be small.', '“Absent a complete about-face from the economy, interest rates aren’t likely to come down soon enough, or fast enough, to provide meaningful relief to borrowers.', 'Utilize zero-percent credit card balance transfer offers, shop around for lower fixed-rate personal loans and home equity loans, and channel as much income as possible toward paying down this debt as quickly as possible,” said Greg McBride, Bankrate.com’s chief financial analyst.', 'But the Fed’s decision leaves savers, once again, in the catbird seat when it comes to making money on their money.', '“Savers are enjoying the best returns on savings accounts and CDs in more than 15 years, with the most competitive offers outpacing inflation.', 'In addition, these conditions are poised to persist for the foreseeable future,” McBride said.', 'The best bang for your savings can still be had in online high-yield savings accounts at FDIC-insured banks, which yield way more than today’s 0.58% overall average savings rate.', 'As of June 11, the average online savings account rate was 4.40%, according to DepositAccounts.com.', 'And many online high-yield accounts continue to offer rates of 5% or more.', 'Say you have $10,000 in savings.', 'If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year.', 'If you put it instead in a 5% high-yield account, you’ll get $500.', 'A high-yield savings account is the best place to park money you’ll need to cover emergencies as well as anticipated large expenses that you have to pay in the next three months to a year.', 'As with any savings account, banks can lower the rate they offer — also known as the APY — at any time.', 'And you can be sure they will do just that when the Fed looks like it will finally start cutting rates, McBride said.', 'But, he added, since rates are likely to be cut in small increments, online high-yield savings accounts may continue to offer inflation-beating returns for some time.', '“They will still offer the best way to preserve your [money’s] buying power,” McBride said.', 'Money market deposit accounts and money market mutual funds are generating yields competitive with the best high-yield savings accounts.', 'But there are important differences.', 'Money market deposit accounts are bank products.', 'So, assuming your bank is FDIC insured, your account is too. (', 'Or, if your account is at a federally backed credit union, your money will beinsured by the National Credit Union Share Insurance Fund.)', 'As with high-yield accounts, you may get the best deals at an online bank.', 'But money market accounts may have a higher minimum deposit requirement than a high-yield account.', 'Money market funds, by contrast, are an investment product — they generate return by investing in short-term, low-risk debt instruments and are currently yielding an average of 5.12%, according to the Crane 100 Money Fund Index.', 'Such funds are a good place to park cash you have in your brokerage account that you may want to use at some point to buy equities or bonds, McBride said.', 'Money market funds are not FDIC-insured, but any brokerage you use should be insured by theSecurities Investor Protection Corporation, whichcovers your funds up to a limit if your brokerage ever goes under.', 'CDs are still a great place to park any money you can leave untouched for a fixedperiod of time — anywhere from a few months to five years or longer.', 'As of June 11, the average rate was 4.971% on an online one-year CD, and 3.815% on a five-year CD, according to DepositAccounts.com.', 'While your brick-and-mortar bank may offer a CD at a good rate, you may get a better one shopping around.', 'The easiest way to do that without having to set up an additional account at another bank is to shop for CDs through your online brokerage, which is likely to offer a wide array of CDs from many different banks.', 'At Schwab.com, for instance, CDs on offer ranging in duration from three months all the way up to 10 years offered average annual returns over 5%, with most ranging between 5.30% and 5.45%.', 'The highest annual average was 5.56% for a three-month CD.', 'If you have to withdraw money before the end of a CD’s term, you can always get all of your principal back but may forfeit some of the interest earned as an early withdrawal penalty.', 'Beyond deposit accounts, investing in short-term Treasury bills and intermediate-term Treasury notes has been another way to earn a competitive return with virtually no risk since Treasuries are backed by the full faith and credit of the United States.', 'Treasury bills come in six different maturities: 4 weeks, 8 weeks, 13 weeks, 17 weeks, 26 weeks and 52 weeks.', 'Treasury notes mature in two, three, five, seven or 10 years.', '“As long as the Fed holds its rate in the 5.25% to 5.5% range, we expect most Treasury bill yields to hover around 5.25% as well,” said Collin Martin, fixed income strategist at the Schwab Center for Financial Research.', 'But, Martin added, “While the timing of rate cuts has been pushed back, we still expect them to arrive later this year, and investors in short-term investments would likely face reinvestment risk.”', 'That’s why he suggests investors consider buying some intermediate-term investments now before rates are cut if they want to lock in a higher yield for some of their money, such as Treasury notes maturing in the next four to 10 years.', 'On Wednesday, yields on Treasury bills were north of 5% and yields on Treasury notes were north of 4%, according to Schwab.com.', 'When deciding whether it makes sense to invest in a CD or a Treasury for the same duration, you might opt for the Treasury if you live in a high-tax state, McBride suggested, since interest on Treasuries isexempt from state and local taxes.', 'In all instances, the easiest way to purchase Treasuries and other bonds is to do so through your brokerage account.']",0.2316756297629233,"“Savers are enjoying the best returns on savings accounts and CDs in more than 15 years, with the most competitive offers outpacing inflation.","But, he added, since rates are likely to be cut in small increments, online high-yield savings accounts may continue to offer inflation-beating returns for some time.",0.6137214203675588,"“Savers are enjoying the best returns on savings accounts and CDs in more than 15 years, with the most competitive offers outpacing inflation.","People carrying variable-rate debt like credit cards and those seeking a loan won’t be happy given that the Fed’s rate, which directly and indirectly affects consumers’ borrowing costs, remains at a 23-year high.",2024-06-16 -Fisker recalls thousands of Ocean EVs for safety and compliance issues,https://www.cnbc.com/2024/06/12/fisker-recalls-thousands-of-ocean-evs-for-safety-and-compliance-issues.html,2024-06-12T17:52:33+0000,"In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues. The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons. The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.Fisker said that vehicles updated to OS 2.1 are not impacted by the recall. Fisker anticipates completing the software update process by June 30, 2024. The recalls come after months of setbacks for Fisker. Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand. Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels. In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open. This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement.Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available. The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.",CNBC,12/06/2024,"['In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.', 'The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.', 'The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.', 'Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons.', 'The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.', 'Fisker said that vehicles updated to OS 2.1 are not impacted by the recall.', 'Fisker anticipates completing the software update process by June 30, 2024.The recalls come after months of setbacks for Fisker.', 'Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.', 'Fisker\'s struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup\'s shares due to ""abnormally low"" price levels.', ""In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open."", ""This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement."", 'Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available.', 'The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.']",0.0060538940872337,"The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.","Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels.",-0.9712965488433838,,Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.,2024-06-16 -Church community-owned solar farm plan approved,https://www.bbc.co.uk/news/articles/cmllrn2v2m9o,2024-06-14T05:26:46.971Z,"A community-owned solar farm is set to be built by the end of next year. The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee. Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed. The scheme will connect the solar array to a substation on Blackburn Road. It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal. Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025. Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “It will put Hyndburn in the forefront of the green revolution and renewable energy generation.” Peel ward’s councillor Clare Pritchard said: “I support this application. It is something we need more of in the borough.” Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.” Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.” Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas to northwest.newsonline@bbc.co.uk ",BBC,14/06/2024,"['A community-owned solar farm is set to be built by the end of next year.', ""The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee."", 'Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed.', 'The scheme will connect the solar array to a substation on Blackburn Road.', 'It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal.', 'Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.', 'Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “', 'It will put Hyndburn in the forefront of the green revolution and renewable energy generation.”', 'Peel ward’s councillor Clare Pritchard said: “I support this application.', 'It is something we need more of in the borough.”', 'Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.”', 'Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”', 'Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram.', 'You can also send story ideas to northwest.newsonline@bbc.co.uk']",0.2997221843474639,Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.,"Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “",0.989383856455485,Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”,,2024-06-16 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-06-16 -London Stock Exchange becomes Europe's largest stock market again,https://www.bbc.co.uk/news/articles/cqee1vpe3deo,2024-06-17T15:20:18.532Z,"The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows. The total value of companies listed on the London Stock Exchange (LSE) hit $3.18tn on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data. Both valuations have shifted since and remain close, but analysts describe it as a milestone. They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance. The LSE had been Europe’s largest stock market for many years before November 2022 when it was overtaken. Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit. The LSE was worth about $1.4tn more than its Parisian rival in 2016. Analysts say that market investors generally dislike uncertainty - and there are many questions about what the French snap election called by the president will mean. President Emmanuel Macron called the snap election earlier this month, following a victory for his rival Marine Le Pen's right-wing National Rally in European elections. Hargreaves Lansdown's money and markets head Susannah Streeter suggested though that Le Pen's manifesto contains ""unfunded spending"". ""They are not so focused about winning over the market,"" said Ms Streeter. Financial markets often react badly when they do not know where the money for a government's pledges will come from. This is because it affects the value of bonds, which is money investors loan the government at a rate agreed by the market. If investors believe that a government or potential government's policies don't add up, the interest rate on bonds, known as the yield, tends to rise. This then hurts the value of listed companies, because if the bond yield is very high then investors can often make more money lending to the government than investing in a company's shares. Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"". The Conservative party has also been trying to convince investors of its approach. Chancellor Jeremy Hunt told the Wall Street Journal chief executives' council summit last month: ""I think London’s stock market demise is massively overstated."" ""We do have challenges, and we’re addressing those challenges.” One of the biggest challenges facing the LSE over the last decade has been pitching to investors and companies tempted by American exchanges. A number of big firms, including ones based in the UK, have chosen to list in the US rather than the UK. This has driven up the value of American stocks, which then encourages even more companies to list there. The S&P All-Share index, which tracks the value of every listed company in the US, has soared over 85% over the last five years. The equivalent FTSE All-Share index has increased by less than a tenth over the same time period. However, since the start of this year, the UK index has picked up, which AJ Bell's investment director Russ Mould said is partly due to clarity on interest rates. They are expected to go down at some point this year, meaning British companies can borrow money for less. Despite this, British stocks are much cheaper than American stocks relative to their earnings, and Mould suggests investors may be overvaluing US companies and undervaluing UK ones. He noted that the main US exchanges are heavily dependent on a handful of highly-valued tech stocks, including Google, Apple, and Amazon, but did not believe this would be sustainable in the long-term. ""If everyone is sitting on one side of the boat, it's going to tip over eventually,"" he said. ",BBC,17/06/2024,"['The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows.', 'The total value of companies listed on the London Stock Exchange (LSE) hit $3.18tn on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data.', 'Both valuations have shifted since and remain close, but analysts describe it as a milestone.', 'They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.', 'The LSE had been Europe’s largest stock market for many years before November 2022 when it was overtaken.', 'Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit.', 'The LSE was worth about $1.4tn more than its Parisian rival in 2016.', 'Analysts say that market investors generally dislike uncertainty - and there are many questions about what the French snap election called by the president will mean.', ""President Emmanuel Macron called the snap election earlier this month, following a victory for his rival Marine Le Pen's right-wing National Rally in European elections."", 'Hargreaves Lansdown\'s money and markets head Susannah Streeter suggested though that Le Pen\'s manifesto contains ""unfunded spending"". ""', 'They are not so focused about winning over the market,"" said Ms Streeter.', ""Financial markets often react badly when they do not know where the money for a government's pledges will come from."", 'This is because it affects the value of bonds, which is money investors loan the government at a rate agreed by the market.', ""If investors believe that a government or potential government's policies don't add up, the interest rate on bonds, known as the yield, tends to rise."", ""This then hurts the value of listed companies, because if the bond yield is very high then investors can often make more money lending to the government than investing in a company's shares."", 'Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"".', 'The Conservative party has also been trying to convince investors of its approach.', 'Chancellor Jeremy Hunt told the Wall Street Journal chief executives\' council summit last month: ""I think London’s stock market demise is massively overstated."" ""', 'We do have challenges, and we’re addressing those challenges.”', 'One of the biggest challenges facing the LSE over the last decade has been pitching to investors and companies tempted by American exchanges.', 'A number of big firms, including ones based in the UK, have chosen to list in the US rather than the UK.', 'This has driven up the value of American stocks, which then encourages even more companies to list there.', 'The S&P All-Share index, which tracks the value of every listed company in the US, has soared over 85% over the last five years.', 'The equivalent FTSE All-Share index has increased by less than a tenth over the same time period.', ""However, since the start of this year, the UK index has picked up, which AJ Bell's investment director Russ Mould said is partly due to clarity on interest rates."", 'They are expected to go down at some point this year, meaning British companies can borrow money for less.', 'Despite this, British stocks are much cheaper than American stocks relative to their earnings, and Mould suggests investors may be overvaluing US companies and undervaluing UK ones.', 'He noted that the main US exchanges are heavily dependent on a handful of highly-valued tech stocks, including Google, Apple, and Amazon, but did not believe this would be sustainable in the long-term. ""', 'If everyone is sitting on one side of the boat, it\'s going to tip over eventually,"" he said.']",0.1699293819235695,"Looking towards the UK, Ms Street added that the Labour party, which is currently leading in the polls in the run-up to the UK general election, has been trying to reassure investors and the City that it is a ""safe pair of hands"".","Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit.",-0.0061974809283301,The equivalent FTSE All-Share index has increased by less than a tenth over the same time period.,"They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.",2024-06-16 -GM trims 2024 EV forecast amid slower-than-expected demand,https://www.cnbc.com/2024/06/11/gm-trims-2024-ev-sales-forecast-amid-slower-than-expected-demand.html,2024-06-11T17:51:08+0000,"In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000. The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. That milestone is still expected in the fourth quarter of this year, he said.Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May. Sales of GM's all-electric vehicles remained minuscule during the first quarter. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV. The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500. GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.The two new EVs, which share GM's ""Ultium"" EV platform and technologies, are crucial for GM's EV growth.In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year. He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of June.""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently. This allows us to continue returning cash to shareholders,"" Jacobson said in a release.Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024. A prior version of this article misstated that range.",CNBC,11/06/2024,"['In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.', 'GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.', 'The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.', '""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.', 'Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year.', ""That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units."", 'That milestone is still expected in the fourth quarter of this year, he said.', 'Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May.', ""Sales of GM's all-electric vehicles remained minuscule during the first quarter."", ""EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period."", 'The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV.', 'The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500.', 'GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.', 'The two new EVs, which share GM\'s ""Ultium"" EV platform and technologies, are crucial for GM\'s EV growth.', 'In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year.', 'He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.', 'The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.', 'The new buyback authorization comes as anaccelerated $10 billionshare repurchase program announced in November 2023 is expected to be completed by the end of June.', '""We are very focused on the profitability of our [internal combustion engine] business, we\'re growing and improving the profitability of our EV business and deploying our capital efficiently.', 'This allows us to continue returning cash to shareholders,"" Jacobsonsaid in a release.', 'Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024.', 'A prior version of this article misstated that range.']",0.1281523670116651,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.",0.0904689051888205,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.",2024-06-16 -The good economic news this week was just that … good news,https://edition.cnn.com/2024/06/15/economy/good-news-inflation-may/index.html," - Published - 9:30 AM EDT, Sat June 15, 2024 - ","“Good news is bad news” has been a common refrain for a while now. - - When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. - - This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire. - - “What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.” - - He added: “That is good news.” - - This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory. - - And it sure did deliver. - - On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation. - - On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well). - - But those data points were small fry as to what would come Wednesday. - - Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. On an annual basis, consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, - - Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled. Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low. - - “The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said. - - The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September. - - The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December. - - The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. - - Excluding gas prices, imports still fell 0.3%. - - “Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.” - - “We would not rule out a first rate cut in September; the market is not,” Rupkey wrote. - - And more good news is likely on the way this next week and later this month, Brusuelas said. - - Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report. Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month. - - “There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",CNN,15/06/2024,"['“Good news is bad news” has been a common refrain for a while now.', 'When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts.', 'This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire.', '“What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “', 'And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.”', 'He added: “That is good news.”', 'This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory.', 'And it sure did deliver.', 'On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.', 'On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).', 'But those data points were small fry as to what would come Wednesday.', 'Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022.', 'On an annual basis, consumer prices rose 3.3% from a year earlier,slowing from April’s 3.4% rate, Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled.', 'Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low.', '“The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said.', 'The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September.', 'The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December.', 'The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.', 'Excluding gas prices, imports still fell 0.3%.', '“Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “', 'Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.”', '“We would not rule out a first rate cut in September; the market is not,” Rupkey wrote.', 'And more good news is likely on the way this next week and later this month, Brusuelas said.', 'Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report.', 'Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month.', '“There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “', 'At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”']",0.1520506693033568,"On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.","At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",0.2949928978215093,"On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).","The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.",2024-06-16 -"At Stellantis investor day, cost cuts and China come into focus",https://www.cnbc.com/2024/06/12/stellantis-investor-day-wall-street-expectations.html,2024-06-12T16:29:01+0000,"In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That's beginning to pay dividends for the company and investors.How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday.Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually. It's a target the company says it will achieve in 2024, a year ahead of schedule.More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.""We've been cutting headcounts, but we really don't need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""To engineer the systems for our 10-year road map, it's already done.""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we'll see."" He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.""There is no silver bullet here. You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""This is no surprise. You can check my comments for the last five years. I've been running the same stuff for five years.""Future cost-saving efforts could be part of the company's Thursday capital markets day.Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight.""We want to help you better understand how we see the industry evolving, how we're leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns.""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China.At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days.Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.Tavares has called Chinese automakers his ""No. 1 competitor"" and said the company is taking an ""asset-light"" strategy. That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor.""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed. We don't expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March. GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.— CNBC's Michael Bloom contributed to this report.",CNBC,12/06/2024,"['In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission.', ""That's beginning to pay dividends for the company and investors."", ""How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday."", ""Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually."", ""It's a target the company says it will achieve in 2024, a year ahead of schedule."", 'More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.', '""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', ""The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions."", 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.', 'Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.', ""Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it\'s optimizing design and function for its new vehicles.', 'Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.', '""We\'ve been cutting headcounts, but we really don\'t need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""', ""To engineer the systems for our 10-year road map, it's already done."", '""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we\'ll see.""', 'He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.', '""There is no silver bullet here.', 'You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""', 'This is no surprise.', 'You can check my comments for the last five years.', ""I've been running the same stuff for five years."", '""Future cost-saving efforts could be part of the company\'s Thursday capital markets day.', ""Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight."", '""We want to help you better understand how we see the industry evolving, how we\'re leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""', ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns."", '""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.', ""Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China."", ""At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.', 'Tavares has called Chinese automakers his ""No.', '1 competitor"" and said the company is taking an ""asset-light"" strategy.', ""That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor."", '""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.', 'We don\'t expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.', ""Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor."", ""Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March."", 'GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.', 'RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.', 'Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.—', ""CNBC's Michael Bloom contributed to this report.""]",0.1316323402178248,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.","Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.",0.520694066177715,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.",Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.,2024-06-16 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-06-16 -Nervous about the market? Here’s one thing you could do if shares start sinking fast,https://edition.cnn.com/2024/06/17/investing/premarket-stocks-trading-fed-rates/index.html," - Published - 7:23 AM EDT, Mon June 17, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - Stocks are trading near record highs after Wall Street received long-awaited clarity on the path for inflation and interest rates. Can that last? - - The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. That rally has been challenged in recent months by a slew of hotter-than-expected inflation reports and economic data, which spurred concerns that the Federal Reserve would wait longer than expected to cut rates. - - The S&P 500 and Nasdaq Composite indexes both clinched several record closes last week as cooler-than-expected May Consumer and Producer Price Index reports raised Wall Street’s hopes that inflation is coming down again. - - Still, the Fed held interest rates steady on Wednesday and signaled just one cut for this year, fewer than the three it previously projected. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. - - If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? - - Before the Bell spoke with Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions, to discuss. - - This interview has been edited for length and clarity. - - Before the Bell: What is your biggest takeaway from last week? - - Jack Janasiewicz: The bottom line … is that there’s a disinflationary impulse coming. I think [Fed Chair Jerome] Powell was right to sort of look at [hotter-than-expected] January, February, March inflation data as maybe a little bit of an anomaly or a pause but not a reversal of that trend that’s going to continue to head to that 2% target. So, again, heading in the right direction, it may be slower than people would like. But we’re going to 2%. - - And then the other thing I would point to as well — the labor side of their mandate is becoming a little more focused. [The Fed] is one of the only central banks that has the dual mandate with price stability and full employment. It feels like the price stability side is coming into better focus. As the economy slows a little bit here, and you start to see the unemployment rate tick a little bit higher … the Fed [could start] to focus on making sure that the unemployment rate doesn’t start to rise. - - That could be the trigger for rate cuts. So we’re not ruling out rate cuts by September. We could easily have a cut. The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. - - What is the implication for stocks? - - This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend. And even if we slow, keep in mind where we’re starting from. You’re starting from an above-trend growth rate. So if you slow maybe we slow to trend. That’s a pretty good backdrop. That’s good for corporate earnings. And that’s, not surprisingly, why the market continues to hold up. - - I wouldn’t be shocked if we get a pullback, but the underlying economy is still pretty strong, and we’re basically going to tell our clients that any pullback, you should be looking to add on. So if we get a 5% or 10% correction in equities over the next month or two, you should be putting money to work, not de-risking here, because the fundamentals are still very strong for the economy. - - Do you expect some of the cash that’s on the sidelines to enter the stock market? - - Some of that will come back in, but I don’t think you’re going to see all of it, only because you’re still earning a pretty good yield on money market accounts. People have cash as cash, and it’s kind of its own bucket. So swapping that bucket for an equity risk, it’s not quite the same. - - But I think some of that will find its way back into the markets. We still have plenty of clients that are pretty defensively positioned because they don’t believe in this market rally, they think it’s overhyped, the economy is still going to slow. So there is room for some of that money to come back in, but some of it I think is still pretty sticky. - - Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home. - - But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable,” reports my colleague Hilary Whiteman. - - The report compared average incomes with average home prices. It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring. - - US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years. - - Perhaps unsurprisingly, the most expensive US cities to buy a home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10. - - The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries. - - Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney and the southern cities of Melbourne in Victoria and Adelaide in South Australia. - - Read more here. - - When OpenAI CEO Sam Altman attended Apple’s annual developer conference last week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak. Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices this year. - - But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person nor via livestream, reports my colleague Samantha Murphy Kelly. Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies. - - “I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “Apple had to manage the message carefully. OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience. Having him in the livestream would have only created an unnecessary level of confusion.” - - Earlier last week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall — the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence. - - The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry. - - The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership. - - Read more here.",CNN,17/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Stocks are trading near record highs after Wall Street received long-awaited clarity on the path for inflation and interest rates.', 'Can that last?', 'The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom.', 'That rally has been challenged in recent months by a slew of hotter-than-expected inflation reports and economic data, which spurred concerns that the Federal Reserve would wait longer than expected to cut rates.', 'The S&P 500 and Nasdaq Composite indexes both clinched several record closes last week as cooler-than-expected May Consumer and Producer Price Index reports raised Wall Street’s hopes that inflation is coming down again.', 'Still, the Fed held interest rates steady on Wednesday and signaled just one cut for this year, fewer than the three it previously projected.', 'Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool.', 'If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market?', 'Before the Bell spoke with Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions, to discuss.', 'This interview has been edited for length and clarity.', 'Before the Bell: What is your biggest takeaway from last week?', 'Jack Janasiewicz: The bottom line … is that there’s a disinflationary impulse coming.', 'I think [Fed Chair Jerome] Powell was right to sort of look at [hotter-than-expected] January, February, March inflation data as maybe a little bit of an anomaly or a pause but not a reversal of that trend that’s going to continue to head to that 2% target.', 'So, again, heading in the right direction, it may be slower than people would like.', 'But we’re going to 2%.', 'And then the other thing I would point to as well — the labor side of their mandate is becoming a little more focused. [', 'The Fed] is one of the only central banks that has the dual mandate with price stability and full employment.', 'It feels like the price stability side is coming into better focus.', 'As the economy slows a little bit here, and you start to see the unemployment rate tick a little bit higher … the Fed [could start] to focus on making sure that the unemployment rate doesn’t start to rise.', 'That could be the trigger for rate cuts.', 'So we’re not ruling out rate cuts by September.', 'We could easily have a cut.', 'The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction.', 'What is the implication for stocks?', 'This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend.', 'And even if we slow, keep in mind where we’re starting from.', 'You’re starting from an above-trend growth rate.', 'So if you slow maybe we slow to trend.', 'That’s a pretty good backdrop.', 'That’s good for corporate earnings.', 'And that’s, not surprisingly, why the market continues to hold up.', 'I wouldn’t be shocked if we get a pullback, but the underlying economy is still pretty strong, and we’re basically going to tell our clients that any pullback, you should be looking to add on.', 'So if we get a 5% or 10% correction in equities over the next month or two, you should be putting money to work, not de-risking here, because the fundamentals are still very strong for the economy.', 'Do you expect some of the cash that’s on the sidelines to enter the stock market?', 'Some of that will come back in, but I don’t think you’re going to see all of it, only because you’re still earning a pretty good yield on money market accounts.', 'People have cash as cash, and it’s kind of its own bucket.', 'So swapping that bucket for an equity risk, it’s not quite the same.', 'But I think some of that will find its way back into the markets.', 'We still have plenty of clients that are pretty defensively positioned because they don’t believe in this market rally, they think it’s overhyped, the economy is still going to slow.', 'So there is room for some of that money to come back in, but some of it I think is still pretty sticky.', 'Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.', 'But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable,” reports my colleague Hilary Whiteman.', 'The report compared average incomes with average home prices.', 'It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.', 'US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years.', 'Perhaps unsurprisingly, the most expensive US cities to buy a home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10.', 'The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries.', 'Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney andthe southern cities of Melbourne in Victoria and Adelaide in South Australia.', 'Read more here.', 'When OpenAI CEO Sam Altman attended Apple’s annual developer conference last week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak.', 'Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices this year.', 'But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person nor via livestream, reports my colleague Samantha Murphy Kelly.', 'Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies.', '“I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “', 'Apple had to manage the message carefully.', 'OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience.', 'Having him in the livestream would have only created an unnecessary level of confusion.”', 'Earlier last week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall — the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence.', 'The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry.', 'The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership.', 'Read more here.']",0.1447508820815298,"This is sort of a Goldilocks scenario for stocks where we’ve got inflation trending lower, but it’s still a little bit elevated above the target, which is going to be good for corporate profits, and the economy is still growing above trend.","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.",0.135143852752188,"The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom.","It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.",2024-06-16 -"Petrol prices higher than they should be, says RAC",https://www.bbc.co.uk/news/articles/cd11jr44gexo,2024-06-17T10:15:28.706Z,"British drivers are facing petrol and diesel prices that are ""far higher than they should be"", according to the RAC. The motoring group said fuel retailers were using the ""distraction"" of the general election to keep profit margins ""persistently high"". It called on the UK's competition body to bring retailers ""into line as soon as it's able to"". However, a body representing fuel retailers said businesses were facing higher costs and also having to invest in new technology for electric vehicles. Concerns about the high price of fuel prompted the competition regulator, the Competition and Markets Authority (CMA), to look into the sector last year and it concluded that some retailers were overcharging. In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"". The RAC, which has long campaigned over fuel costs, says prices at the pumps have remained high despite wholesale costs having fallen since the end of April. The average price of a litre of petrol is 146.3p, which it said was 5p higher than it should be given the equivalent price in Northern Ireland is 141.1p. The group also said that the UK has seen the most expensive diesel prices in Europe for the past seven weeks, with the average litre costing 151.5p. The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre. RAC head of policy Simon Williams said: “While there has been much focus on fuel since the Competition and Markets Authority concluded the biggest retailers had overcharged drivers by £900m in 2022, margins are once again staying persistently high - and drivers are paying the price. “Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up."" But the Petrol Retailers Association (PRA) said comparing current fuel margins to historical figures overlooks ""several critical factors"". ""We must consider the significant increases in operating costs, reduced fuel volumes post-pandemic, and the substantial investments required to transition to a low-carbon transportation system,"" said Gordon Balmer, the PRA's executive director. ""These factors mean that fuel retailers need to earn more from fuel sales to stay in business and invest in the future."" He added that forecourts are ""ideally suited"" to electric vehicle charging points, and many PRA members were investing in these ""despite the slower-than-anticipated uptake of electric vehicles and the long payback periods for such investments"". ",BBC,17/06/2024,"['British drivers are facing petrol and diesel prices that are ""far higher than they should be"", according to the RAC.', 'The motoring group said fuel retailers were using the ""distraction"" of the general election to keep profit margins ""persistently high"".', 'It called on the UK\'s competition body to bring retailers ""into line as soon as it\'s able to"".', 'However, a body representing fuel retailers said businesses were facing higher costs and also having to invest in new technology for electric vehicles.', 'Concerns about the high price of fuel prompted the competition regulator, the Competition and Markets Authority (CMA), to look into the sector last year and it concluded that some retailers were overcharging.', 'In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".', 'The RAC, which has long campaigned over fuel costs, says prices at the pumps have remained high despite wholesale costs having fallen since the end of April.', 'The average price of a litre of petrol is 146.3p, which it said was 5p higher than it should be given the equivalent price in Northern Ireland is 141.1p.', 'The group also said that the UK has seen the most expensive diesel prices in Europe for the past seven weeks, with the average litre costing 151.5p.', 'The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre.', 'RAC head of policy Simon Williams said: “While there has been much focus on fuel since the Competition and Markets Authority concluded the biggest retailers had overcharged drivers by £900m in 2022, margins are once again staying persistently high - and drivers are paying the price. “', 'Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up.""', 'But the Petrol Retailers Association (PRA) said comparing current fuel margins to historical figures overlooks ""several critical factors"". ""', 'We must consider the significant increases in operating costs, reduced fuel volumes post-pandemic, and the substantial investments required to transition to a low-carbon transportation system,"" said Gordon Balmer, the PRA\'s executive director. ""', 'These factors mean that fuel retailers need to earn more from fuel sales to stay in business and invest in the future.""', 'He added that forecourts are ""ideally suited"" to electric vehicle charging points, and many PRA members were investing in these ""despite the slower-than-anticipated uptake of electric vehicles and the long payback periods for such investments"".']",0.0346120493694639,"In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".","Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK - with the exception of those in Northern Ireland where fairer prices are charged - are once again losing several pounds every time they fill up.""",-0.0621459086736043,"In March this year, the CMA looked again at prices and said the sustained increase in the level of fuel profit margins was ""concerning"".","The average profit margin per litre for retailers are currently 14p on petrol and 16p on diesel, RAC data found, which it said appeared ""excessively high"" given the long-term margins for both fuels are 8p a litre.",2024-06-16 -Adidas is investigating allegations of embezzlement and kickbacks in China,https://edition.cnn.com/2024/06/17/business/china-adidas-embezzlement-investigation-whistleblowers-intl-hnk/index.html," - Published - 8:17 AM EDT, Mon June 17, 2024 - ","Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear. - - Chinese state media Jiemian reported last week that local executives had been accused of embezzling “millions of euros” in an unsigned letter written by whistleblowers calling themselves employees of Adidas China. The letter was widely publicized online. - - Claudia Lange, head of media relations at the apparel giant, told CNN on Monday that it had received an anonymous letter on June 7 “indicating potential compliance violations in China.” - - “Adidas is currently intensively investigating this matter together with external legal counsel,” she said in an emailed response. Lange declined further comment pending the outcome of the inquiry. - - Shares of Adidas fell 3.7% on Monday. - - Jiemian wrote that the letter from whistleblowers had been sent directly to the company’s German headquarters before being shared on social media. - - The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies. Several members of the executive’s team and other employees were also implicated, according to a copy of the letter published by the Chinese state media outlet. - - Adidas Greater China’s overall promotional budget amounted to 250 million euros ($268 million) a year, including expenses dedicated to marketing, branding and trade fairs, Jiemian reported, citing the letter. - - The senior manager was also accused of “nepotism��� and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said. People who followed her instructions were promoted, they added. - - The complaint also alleged that one of the manager’s subordinates had received “millions … from suppliers and physical items such as real estate.” - - The whistleblowers vowed to disclose the matter to the media and law enforcement if the company did not address the allegations. - - Adidas is the world’s second largest sportswear retailer. Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales. - - In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE). The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022. - - But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton. - - In 2021, Adidas — along with H&M, Nike and other big Western apparel brands — faced a boycott in China because of the stand they had taken against the alleged use of forced labor to produce cotton in the country’s western region of Xinjiang. - - Adidas is well known for playing the “celebrity” card in its marketing in China. It has previously worked with popular actors and singers as brand ambassadors, including Yang Mi, Dilraba and Yi Yangqianxi.",CNN,17/06/2024,"['Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear.', 'Chinese state media Jiemian reported last week that local executives had been accused of embezzling “millions of euros” in an unsigned letter written by whistleblowers calling themselves employees of Adidas China.', 'The letter was widely publicized online.', 'Claudia Lange, head of media relations at the apparel giant, told CNN on Monday that it had received an anonymous letter on June 7 “indicating potential compliance violations in China.”', '“Adidas is currently intensively investigating this matter together with external legal counsel,” she said in an emailed response.', 'Lange declined further comment pending the outcome of the inquiry.', 'Shares of Adidas fell 3.7% on Monday.', 'Jiemian wrote that the letter from whistleblowers had been sent directly to the company’s German headquarters before being shared on social media.', 'The reported complaint alleged that a senior executive in Greater China who manages Adidas’ marketing budget had embezzled millions of euros and taken huge kickbacks from external advertising and celebrity agencies.', 'Several members of the executive’s team and other employees were also implicated, according to a copy of the letter published by the Chinese state media outlet.', 'Adidas Greater China’s overall promotional budget amounted to 250 million euros ($268 million) a year, including expenses dedicated to marketing, branding and trade fairs, Jiemian reported, citing the letter.', 'The senior manager was also accused of “nepotism” and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said.', 'People who followed her instructions were promoted, they added.', 'The complaint also alleged that one of the manager’s subordinates had received “millions … from suppliers and physical items such as real estate.”', 'The whistleblowers vowed to disclose the matter to the media and law enforcement if the company did not address the allegations.', 'Adidas is the world’s second largest sportswear retailer.', 'Greater China — a region that encompasses mainland China, Hong Kong and Taiwan — contributes 15% of the company’s sales.', 'In mainland China, Adidas is the second largest international sportswear brand behind Nike (NKE).', 'The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.', 'But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton.', 'In 2021, Adidas — along with H&M, Nike and other big Western apparel brands — faced a boycott in China because of the stand they had taken against thealleged use of forced laborto produce cotton in the country’s western region of Xinjiang.', 'Adidas is well known for playing the “celebrity” card in its marketing in China.', 'It has previously worked with popular actors and singers as brand ambassadors, including Yang Mi, Dilraba and Yi Yangqianxi.']",0.0698112406068041,The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.,"The senior manager was also accused of “nepotism” and “workplace bullying,” including isolating some employees and forcing them to leave, the whistleblowers’ reportedly said.",-0.5454946160316467,The German company has enjoyed a rebound in sales growth in China after Beijing scrapped Covid restrictions at the end of 2022.,But its market share has declined significantly from pre-pandemic levels because of competition from local rivals and a controversy over its refusal to use Xinjiang cotton.,2024-06-16 -Tesco says shoppers are buying more as confidence returns,https://www.bbc.co.uk/news/articles/c511llw8l0lo,2024-06-14T09:56:19.345Z,"The UK's biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth. The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors. It saw strong sales in its premium food range, claiming consumers are opting to dine-in more. Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting. Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". ""We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added. Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I'm well paid."" According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee. Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin. The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer. Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets."" ",BBC,14/06/2024,"['The UK\'s biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth.', 'The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.', 'It saw strong sales in its premium food range, claiming consumers are opting to dine-in more.', 'Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting.', 'Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken\'s absolute level of pay"". ""', 'We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added.', 'Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I\'m well paid.""', ""According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee."", 'Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.', 'The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer.', 'Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “', 'We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""', 'Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets.""']",0.3783091490336879,"Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.","Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". """,0.641240266236392,"The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.","According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee.",2024-06-16 -"National Amusements stops discussions with Skydance on Paramount deal, sources say",https://www.cnbc.com/2024/06/11/national-amusements-stops-discussions-with-skydance-on-paramount-deal-sources-say.html,2024-06-12T00:42:45+0000,"In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction. National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR. The deal had been awaiting signoff from Redstone, CNBC previously reported. National Amusements, which Redstone controls, owns 77% of class A Paramount shares.Paramount shares closed nearly 8% lower Tuesday following the report.National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.Redstone's company said it ""supports the recently announced strategic plan being executed by Paramount's Office of the CEO as well as their ongoing work and that of the Company's Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.""Paramount declined to comment. Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.The Wall Street Journal earlier reported talks had ended.""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns.Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter. The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking. The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter. A spokesperson for Phillips declined to comment. The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media. At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction. The Special Committee did not vote on any potential transaction.""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount's annual shareholder meeting, where the company's leadership outlined plans for the future.Last week, Paramount's current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company's strategic priorities in the event the company was not sold.The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets. The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell.While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support. She has approved of their ideas and leadership during their short tenure, CNBC previously reported.Redstone has controlled the future of Paramount and whether a sale would take place. She can now consider other offers for National Amusements from outside buyers. In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported. However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported. Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company. Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt.The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year. Paramount had roughly $14.6 billion in long-term debt as of March 31.",CNBC,12/06/2024,"['In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction.', ""National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR."", 'The deal had been awaiting signoff from Redstone, CNBC previously reported.', 'National Amusements, which Redstone controls, owns 77% of class A Paramount shares.', 'Paramount shares closed nearly 8% lower Tuesday following the report.', 'National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.', 'Redstone\'s company said it ""supports the recently announced strategic plan being executed by Paramount\'s Office of the CEO as well as their ongoing work and that of the Company\'s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.', '""Paramount declined to comment.', 'Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.', 'The Wall Street Journal earlier reported talks had ended.', '""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.', ""There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns."", 'Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter.', ""The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking."", ""The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter."", 'A spokesperson for Phillips declined to comment.', 'The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media.', ""At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction."", 'The Special Committee did not vote on any potential transaction.', '""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount\'s annual shareholder meeting, where the company\'s leadership outlined plans for the future.', 'Last week, Paramount\'s current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company\'s strategic priorities in the event the company was not sold.', 'The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.', 'The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets.', ""The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell."", 'While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support.', 'She has approved of their ideas and leadership during their short tenure, CNBC previously reported.', 'Redstone has controlled the future of Paramount and whether a sale would take place.', 'She can now consider other offers for National Amusements from outside buyers.', 'In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported.', 'However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.', 'Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported.', 'Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', ""Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt."", ""The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year."", 'Paramount had roughly $14.6 billion in long-term debt as of March 31.']",0.2387817313043969,"National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.","The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",0.1864744484424591,The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year.,"The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",2024-06-16 -"Influencer Jake Paul launching men's skin, personal care line at Walmart",https://www.cnbc.com/2024/06/12/jake-paul-launching-mens-skin-care-line-walmart.html,2024-06-12T18:59:46+0000,"Jake Paul is entering a new arena: skin care.The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.The personal care line will feature products priced at less than $10 and will be available at Walmart. Later this summer, an expanded product line will be available on Amazon.""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""We just believed we had a better vision, better product and could disrupt this entire space.""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant. Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.""It's a super underserved market,"" he said. ""I believe now that more men are caring about how they look and what they are putting into their body,"" he added.As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth. From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor.And it's expected to keep seeing gains. Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.Paul isn't alone in trying to tap into the market. Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.Young men are increasingly turning to social media and influencers for their sources of information. A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past.""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines. But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.""There's a big open market for creator-led products focused on boys,"" he added.He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand.""It's still gonna be a brawl, and we both plan on ripping each other's heads off,"" he added.",CNBC,12/06/2024,"['Jake Paul is entering a new arena: skin care.', 'The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.', 'The personal care line will feature products priced at less than $10 and will be available at Walmart.', 'Later this summer, an expanded product line will be available on Amazon.', '""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""', 'We just believed we had a better vision, better product and could disrupt this entire space.', '""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant.', 'Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.', '""It\'s a super underserved market,"" he said. ""', 'I believe now that more men are caring about how they look and what they are putting into their body,"" he added.', ""As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth."", ""From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor."", ""And it's expected to keep seeing gains."", ""Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects."", ""Paul isn't alone in trying to tap into the market."", 'Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.', 'Young men are increasingly turning to social media and influencers for their sources of information.', ""A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past."", '""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines.', 'But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.', '""There\'s a big open market for creator-led products focused on boys,"" he added.', ""He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand."", '""It\'s still gonna be a brawl, and we both plan on ripping each other\'s heads off,"" he added.']",0.4625497217074573,"As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth.",Paul isn't alone in trying to tap into the market.,0.5827901601791382,"Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.","""It's a super underserved market,"" he said. """,2024-06-16 -Here's what's next for Paramount after Skydance deal is stopped in its tracks,https://www.cnbc.com/2024/06/12/paramount-skydance-deal-ends-what-happens-next.html,2024-06-13T11:46:33+0000,"In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry.Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward.Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins. The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.""It's very difficult for a trio of CEOs to work on a long term basis. It's almost unheard of. How will they make decisions on allocating capital and strategic priorities?"" said Jessica Reif-Ehrlich, an analyst at BofA Securities.On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward.""So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process.The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement."" National Amusements also voiced its support for Paramount's current leadership.While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.In recent days, other potential bidders for National Amusements emerged, according to reports. Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved.""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday's memo to employees. ""And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.""Though the company reached financial terms on the proposed deal with Skydance, Paramount's new leadership team outlined a plan at last week's shareholder meeting in the event a transaction didn't take place.The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.The memo noted more would be discussed at a company town hall June 25. The leaders are also expected to flesh out more details of the plan during August's earnings call.The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year. Paramount has $14.6 billion in debt.In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan.""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation.In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""But this is a very difficult situation. Uncertainty is the worst thing.""Whether it's these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year. A weak advertising market could also weigh on the company in the coming months.",CNBC,13/06/2024,"[""In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry."", 'Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.', ""Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward."", 'Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins.', 'The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.', '""It\'s very difficult for a trio of CEOs to work on a long term basis.', ""It's almost unheard of."", 'How will they make decisions on allocating capital and strategic priorities?""', 'said Jessica Reif-Ehrlich, an analyst at BofA Securities.', ""On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward."", '""So, what does this mean for Paramount?', 'While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.', ""After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process."", 'The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.', 'The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.', 'In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement.""', ""National Amusements also voiced its support for Paramount's current leadership."", 'While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.', 'In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', 'In recent days, other potential bidders for National Amusements emerged, according to reports.', 'Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.', 'While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.', ""Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved."", '""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday\'s memo to employees. ""', 'And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.', '""Though the company reached financial terms on the proposed deal with Skydance, Paramount\'s new leadership team outlined a plan at last week\'s shareholder meeting in the event a transaction didn\'t take place.', 'The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.', 'The memo noted more would be discussed at a company town hall June 25.', ""The leaders are also expected to flesh out more details of the plan during August's earnings call."", ""The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year."", 'Paramount has $14.6 billion in debt.', ""In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan."", '""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.', ""Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation."", ""In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations."", 'But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.', '""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""', 'But this is a very difficult situation.', 'Uncertainty is the worst thing.', '""Whether it\'s these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.', ""Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year."", 'A weak advertising market could also weigh on the company in the coming months.']",0.1552936129402598,"""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. """,Uncertainty is the worst thing.,0.0349052796761194,"In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.",A weak advertising market could also weigh on the company in the coming months.,2024-06-16 -Betting the House: The world of political wagers,https://www.bbc.co.uk/news/articles/c6pp5emm95do,2024-06-15T00:29:04.133Z,"An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting. Gambling on sporting events is now very big business in the UK. Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's. But betting has long been part of the political world too. From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative. One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""I got the Lib Dems to win at 20-to-1, and I got it right,"" he said. Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there's nothing like predicting winner and losers. ""People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying 'I think it's going this way, or that'"". Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson. But some remarkable amounts of money have been wagered over the years. In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election. They lost their money. Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"". Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election. But these figures do not include bets with the larger betting firms. This makes it a miniscule slice of the £15.1bn UK gambling market. But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""It has been helped by the fact we’ve had particularly volatile events - the 'yes' and 'no' Brexit referendum was perfect for betting. ""People like to bet on very tight events."" Over the years, the types of political bets have diversified. Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi. Betting on politics has a surprisingly long history in the UK. Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer. During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting. But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in. But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful. Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence. The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it. Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet. Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation. It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK. Westminster's gamblers will be watching the results of this one with particular interest. Advice on gambling addiction is available via the BBC Action Line. ",BBC,15/06/2024,"['An investigation into Rishi Sunak\'s parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.', 'Gambling on sporting events is now very big business in the UK.', ""Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's."", 'But betting has long been part of the political world too.', 'From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative.', 'One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""', 'I got the Lib Dems to win at 20-to-1, and I got it right,"" he said.', 'Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there\'s nothing like predicting winner and losers. ""', 'People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying \'I think it\'s going this way, or that\'"".', 'Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""', 'Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson.', 'But some remarkable amounts of money have been wagered over the years.', ""In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election."", 'They lost their money.', 'Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"".', 'Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election.', 'But these figures do not include bets with the larger betting firms.', 'This makes it a miniscule slice of the £15.1bn UK gambling market.', 'But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""', 'It has been helped by the fact we’ve had particularly volatile events - the \'yes\' and \'no\' Brexit referendum was perfect for betting. ""', 'People like to bet on very tight events.""', 'Over the years, the types of political bets have diversified.', 'Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""', 'Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi.', 'Betting on politics has a surprisingly long history in the UK.', 'Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer.', 'During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting.', ""But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in."", 'But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful.', 'Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence.', 'The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it.', 'Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet.', 'Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.', 'It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK.', ""Westminster's gamblers will be watching the results of this one with particular interest."", 'Advice on gambling addiction is available via the BBC Action Line.']",0.2101162009157575,But some remarkable amounts of money have been wagered over the years.,"Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.",0.3334703395764033,"But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""","An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.",2024-06-16 -Servers for GameStop annual shareholder meeting crash due to overwhelming interest,https://www.cnbc.com/2024/06/13/gamestop-annual-shareholder-meeting-2024-servers-crash.html,2024-06-14T12:23:03+0000,"In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream. The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event. The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.It said the meeting will be reconvened at 12:30 p.m. ET on Monday. GameStop didn't respond to CNBC's request for comment.When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that ComputerShare's tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes."" The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years. Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.GameStop surged 14.4% on Thursday in another volatile session.GameStop announced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally. GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock.In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns. Call options give the buyer the right to buy a stock at a specified price within a specific period. They increase in value if the stock rises above the so-called strike price.GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.",CNBC,14/06/2024,"[""In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream."", ""The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event."", 'The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.', 'It said the meeting will be reconvened at 12:30 p.m. ET on Monday.', ""GameStop didn't respond to CNBC's request for comment."", 'When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.', ""The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts."", 'They added that ComputerShare\'s tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes.', '""The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years.', 'Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.', 'GameStop surged 14.4% on Thursday in another volatile session.', 'GameStopannounced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally.', 'GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.', ""Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock."", 'In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns.', 'Call options give the buyer the right to buy a stock at a specified price within a specific period.', 'They increase in value if the stock rises above the so-called strike price.', 'GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.', 'The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.', 'It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.', ""Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.""]",0.1013017582753665,"Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.","The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event.",-0.2003346773294302,GameStop surged 14.4% on Thursday in another volatile session.,"The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.",2024-06-16 -US surgeon general wants social media warning labels,https://www.bbc.co.uk/news/articles/c98821dn27lo,2024-06-17T14:09:31.730Z,"One of America's most senior health officials has called on the country to impose smoking-style warning labels on social media platforms. Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression. He wants people who visit these platforms to be shown a message warning that they are ""associated with significant mental health harms for adolescents"". He said such a label would ""regularly remind parents and adolescents that social media has not been proved safe"". The BBC has approached Youtube, TikTok, X and Meta, which owns Facebook and Instagram, for comment. Warning labels were first added to cigarette packaging in the US in 1966, after then-Surgeon General Luther L Terry published a report linking tobacco to lung cancer. Other countries then followed, with the UK requiring a similar message to be printed on packets in 1971. Mr Murthy said that the evidence showed adding these labels to tobacco packaging increased awareness of the risks associated with smoking. And he believes that a similar warning applied to social media platforms would encourage parents to monitor their child's safety online. In the article, he also called for phone use to be banned in schools, and said parents should stop children from using devices during meals and at bedtime. It comes after Mr Murthy published a public health advisory in 2023 which found a link between teenage social media use and poor mental health. But he accepts that there is no academic consensus on the impact of these platforms, and is calling for more research to be done. ""In an emergency, you don’t have the luxury to wait for perfect information,"" he said. ""You assess the available facts, you use your best judgment, and you act quickly. ""The mental health crisis among young people is an emergency - and social media has emerged as an important contributor."" Gin Lalli, psychotherapist and author of How to Empty Your Stress Bucket, told the BBC warning labels would be ""a significant step towards promoting better mental health and wellbeing"". She said that social media may have many benefits, but there may also be some risks such as cyberbullying or exposure to harmful content. ""These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more."" She said a warning label would act as a reminder for people to be mindful of their usage, and to take regular breaks. ""I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said. There is an ongoing debate about the impact of social media on young people. Some research has found a link between heavy social media use and a negative impact on teenagers' mental health, and other research has linked teenage social media use to a reduction in how satisfied children feel with their lives. But a 2023 study found no evidence linking the global spread of Facebook and widespread psychological harm, while other research reported some children benefit from spending time online speaking to friends they already know offline. And the American Psychological Association says social media is ""not inherently beneficial or harmful"", though it warns of problematic use and wants content removed which encourages harm. It also said ""most"" under-14s should be monitored while using social media. In the UK, tech firms will have to take more action to keep children safe on the internet, with the Online Safety Act set to come into force in 2025. Media regulator Ofcom set out new rules for tech firms in May, requiring them to have robust age-checking measures and to steer children away from ""toxic"" material. But parents of children who died after exposure to harmful online content want the rules to go further. ",BBC,17/06/2024,"[""One of America's most senior health officials has called on the country to impose smoking-style warning labels on social media platforms."", 'Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression.', 'He wants people who visit these platforms to be shown a message warning that they are ""associated with significant mental health harms for adolescents"".', 'He said such a label would ""regularly remind parents and adolescents that social media has not been proved safe"".', 'The BBC has approached Youtube, TikTok, X and Meta, which owns Facebook and Instagram, for comment.', 'Warning labels were first added to cigarette packaging in the US in 1966, after then-Surgeon General Luther L Terry published a report linking tobacco to lung cancer.', 'Other countries then followed, with the UK requiring a similar message to be printed on packets in 1971.', 'Mr Murthy said that the evidence showed adding these labels to tobacco packaging increased awareness of the risks associated with smoking.', ""And he believes that a similar warning applied to social media platforms would encourage parents to monitor their child's safety online."", 'In the article, he also called for phone use to be banned in schools, and said parents should stop children from using devices during meals and at bedtime.', 'It comes after Mr Murthy published a public health advisory in 2023 which found a link between teenage social media use and poor mental health.', 'But he accepts that there is no academic consensus on the impact of these platforms, and is calling for more research to be done. ""', 'In an emergency, you don’t have the luxury to wait for perfect information,"" he said. ""', 'You assess the available facts, you use your best judgment, and you act quickly. ""', 'The mental health crisis among young people is an emergency - and social media has emerged as an important contributor.""', 'Gin Lalli, psychotherapist and author of How to Empty Your Stress Bucket, told the BBC warning labels would be ""a significant step towards promoting better mental health and wellbeing"".', 'She said that social media may have many benefits, but there may also be some risks such as cyberbullying or exposure to harmful content. ""', 'These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more.""', 'She said a warning label would act as a reminder for people to be mindful of their usage, and to take regular breaks. ""', 'I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.', 'There is an ongoing debate about the impact of social media on young people.', ""Some research has found a link between heavy social media use and a negative impact on teenagers' mental health, and other research has linked teenage social media use to a reduction in how satisfied children feel with their lives."", 'But a 2023 study found no evidence linking the global spread of Facebook and widespread psychological harm, while other research reported some children benefit from spending time online speaking to friends they already know offline.', 'And the American Psychological Association says social media is ""not inherently beneficial or harmful"", though it warns of problematic use and wants content removed which encourages harm.', 'It also said ""most"" under-14s should be monitored while using social media.', 'In the UK, tech firms will have to take more action to keep children safe on the internet, with the Online Safety Act set to come into force in 2025.', 'Media regulator Ofcom set out new rules for tech firms in May, requiring them to have robust age-checking measures and to steer children away from ""toxic"" material.', 'But parents of children who died after exposure to harmful online content want the rules to go further.']",-0.1419030356442785,"I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.","These risks lead to anxiety, depression and other mental health issues, something myself and my colleagues are seeing more and more.""",-0.0789660594680092,"I can also see warning labels as being of great benefit to the parents – having that ‘back-up’ so to speak means that they can feel more confident in setting boundaries around social media use,"" she said.","Writing in the New York Times, Surgeon General Vivek Murthy said social media increased the risk that children would experience symptoms of anxiety and depression.",2024-06-16 -Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties,https://www.cnbc.com/2024/06/12/robotics-startup-synapse-ceo-exaggerated-gm-claims.html,2024-06-13T19:13:42+0000,"In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC. The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""Our team is in their Mexico factory this week to start the collection process. We would probably be the only company in this space with a dataset like this.""But, according to GM and one of the startup's founders, most of Foundation's claims related to the automaker are exaggerated or untrue.While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman.""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.""In a phone interview with CNBC, one of Foundation's cofounders, Mike LeBlanc, confirmed GM's points and said he was embarrassed that marketing materials existed that overstated their relationship.""The engineering stuff we've done is really incredible, and it's the bedrock of what this company will be,"" LeBlanc said. ""That, to me is what Foundation Robotics is.""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company's fundraising pitch.It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients. The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment.The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks.Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform. Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings.Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.",CNBC,13/06/2024,"['In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.', 'The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC.', 'The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.', '""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.', ""On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots."", '""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""', 'Our team is in their Mexico factory this week to start the collection process.', 'We would probably be the only company in this space with a dataset like this.', '""But, according to GM and one of the startup\'s founders, most of Foundation\'s claims related to the automaker are exaggerated or untrue.', ""While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman."", '""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""', 'In fact, GM has never had an agreement of any kind with the company.', 'Any claims to the contrary are fabricated.', '""In a phone interview with CNBC, one of Foundation\'s cofounders, Mike LeBlanc, confirmed GM\'s points and said he was embarrassed that marketing materials existed that overstated their relationship.', '""The engineering stuff we\'ve done is really incredible, and it\'s the bedrock of what this company will be,"" LeBlanc said. ""', 'That, to me is what Foundation Robotics is.', '""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company\'s fundraising pitch.', ""It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey."", 'The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients.', 'The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.', ""Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment."", ""The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks."", 'Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform.', 'Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.', ""The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings."", 'Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.', ""Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.""]",-0.0501589084925131,"On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.",In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.,-0.5666174769401551,"It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.","Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.",2024-06-16 -The battle for Gen Z social shoppers,https://www.bbc.co.uk/news/articles/c511p8gdn21o,2024-06-13T23:09:47.653Z,"Shopping habits have not been the same since the Covid pandemic and resulting lockdowns. For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce. Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt. The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times. For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"" by creative agency Movers+Shakers, TikTok is winning with their generation. ""It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds. Social shopping is a big market and growing fast. In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista. While TikTok is one of the big players, its position looks vulnerable. TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance. So where would that leave social shopping? If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer. Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds. But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg. Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “It’s a very important activity on the app, especially for its users,” says Ms Enberg. Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app. Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says. A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon. Perhaps TikTok's experience in Indonesia might have some useful lessons. In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop. But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close. For 26-year-old entrepreneur Evo Syah it was a major blow. “It’s hard for me, but what I can do?” he says recalling the tough decisions he had to make. “I just start my business for one year, and then they shut me down,” he says. But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app. The 26-year-old said he “never felt happier”. But not everything went back to normal. ""Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily. But after it reopened again that’s down to 10 million rupiah (£483),” he says. Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “Indonesia is a very different commerce landscape to the US,” she says. However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “Many of them don't really have another place that is as powerful as TikTok.” Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “Instagram Reels is the most natural fit for a lot of displaced TikTok users. But we'll probably also see a rise of new apps."" Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned. Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “In a world where this may happen. I think this next big thing has yet to be created,” adds AJ. ",BBC,13/06/2024,"['Shopping habits have not been the same since the Covid pandemic and resulting lockdowns.', 'For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce.', 'Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt.', 'The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times.', 'For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"" by creative agency Movers+Shakers, TikTok is winning with their generation. ""', 'It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “', 'You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds.', 'Social shopping is a big market and growing fast.', 'In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista.', 'While TikTok is one of the big players, its position looks vulnerable.', 'TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance.', 'So where would that leave social shopping?', 'If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer.', 'Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds.', ""But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg."", 'Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “', 'It’s a very important activity on the app, especially for its users,” says Ms Enberg.', 'Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.', 'Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “', ""When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says."", 'A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon.', ""Perhaps TikTok's experience in Indonesia might have some useful lessons."", ""In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop."", 'But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.', 'For 26-year-old entrepreneur Evo Syah it was a major blow. “', 'It’s hard for me, but what I can do?”', 'he says recalling the tough decisions he had to make. “', 'I just start my business for one year, and then they shut me down,” he says.', 'But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app.', 'The 26-year-old said he “never felt happier”.', 'But not everything went back to normal. ""', 'Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily.', 'But after it reopened again that’s down to 10 million rupiah (£483),” he says.', 'Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “', 'Indonesia is a very different commerce landscape to the US,” she says.', 'However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “', ""Many of them don't really have another place that is as powerful as TikTok.”"", 'Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “', 'Instagram Reels is the most natural fit for a lot of displaced TikTok users.', 'But we\'ll probably also see a rise of new apps.""', 'Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned.', ""Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “"", 'In a world where this may happen.', 'I think this next big thing has yet to be created,” adds AJ.']",0.0670679962436108,"Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.","But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.",0.0839505195617675,"For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"" by creative agency Movers+Shakers, TikTok is winning with their generation. """,For 26-year-old entrepreneur Evo Syah it was a major blow. “,2024-06-16 -Delta to launch premium economy service on NYC-LA flights in air travel upsell race,https://www.cnbc.com/2024/06/10/delta-premium-economy-nyc-la.html,2024-06-10T18:56:02+0000,"In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights. It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips. JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin. Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s. Delta said it plans to expand service later this year.Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket. The seats were sold as extra legroom tickets, which are a rung below premium economy.Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.",CNBC,10/06/2024,"['In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.', 'Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights.', 'It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.', 'Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.', 'JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin.', 'Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.', ""Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion."", ""The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s."", 'Delta said it plans to expand service later this year.', 'Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.', 'Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.', ""Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket."", 'The seats were sold as extra legroom tickets, which are a rung below premium economy.', ""Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.""]",0.2113299976676102,"Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.",,0.2140295982360839,"Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.","Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.",2024-06-16 -How Carvel’s Fudgie the Whale became a Father’s Day icon,https://edition.cnn.com/2024/06/16/food/fudgie-the-whale-carvel-history/index.html," - Published - 2:00 AM EDT, Sun June 16, 2024 - ","Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale. - - Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters. - - Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand. It was made to fill the freezer cases that founder Tom Carvel had made for his shops. Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day. - - Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented. He decided to top it with fudge, because it was one of Carvel’s most popular toppings. - - To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.” Then it��s topped with soft-serve chocolate ice cream and frozen for several hours. After that, it’s topped with hot fudge with more crunchies on the side. The cakes sell for about $30. - - Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said. - - “The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue. It’s a big holiday to bring cake home,” Salerno told CNN. - - Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too. Carvel sells nearly 100,000 Fudgies a year. - - Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past. They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm. - - Carvel could use a boost. Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data. Carvel is owned by privately held Go To Foods (f.k.a. Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio. - - “For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN. - - Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose. That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers. - - “It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.” - - Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball. - - Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades. - - The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick. Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape. - - Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state. - - It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons. Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday. - - Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion. - - For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers. - - “We as a brand made sure to keep him front and center,” Salerno said. “It’s amazing how well-known and how well loved he is.”",CNN,16/06/2024,"['Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale.', 'Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters.', 'Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand.', 'It was made to fill the freezer cases that founder Tom Carvel had made for his shops.', 'Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day.', 'Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented.', 'He decided to top it with fudge, because it was one of Carvel’s most popular toppings.', 'To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.”', 'Then it’s topped with soft-serve chocolate ice cream and frozen for several hours.', 'After that, it’s topped with hot fudge with more crunchies on the side.', 'The cakes sell for about $30.', 'Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said.', '“The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue.', 'It’s a big holiday to bring cake home,” Salerno told CNN.', 'Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too.', 'Carvel sells nearly 100,000 Fudgies a year.', 'Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past.', 'They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.', 'Carvel could use a boost.', 'Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.', 'Carvel is owned by privately held Go To Foods (f.k.a.', 'Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio.', '“For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN.', 'Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose.', 'That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers.', '“It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “', 'But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.”', 'Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball.', 'Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.', 'The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick.', 'Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape.', 'Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state.', 'It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons.', 'Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday.', 'Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion.', 'For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers.', '“We as a brand made sure to keep him front and center,” Salerno said. “', 'It’s amazing how well-known and how well loved he is.”']",0.2545999209117467,It’s amazing how well-known and how well loved he is.”,"Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.",0.743081271648407,"They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.","Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.",2024-06-16 -Southwest CEO vows change as activist investor pushes for new leadership,https://www.cnbc.com/2024/06/12/southwest-ceo-vows-change-amid-activist-pressure.html,2024-06-12T16:53:03+0000,"In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.""We will adapt as our customers' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman.In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation."" He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday.Southwest on Monday said in response to the activist campaign that its board backed the company's leaders and the airline's strategy, while it will also ""look forward to further conversations with Elliott.""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises. The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion. The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system.Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience. It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years.""I think customer preference is going beyond that,"" Jordan said Wednesday. The carrier has spent months surveying customers to figure out what changes are needed, he added.""It's been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""We are also studying the operational and financial benefits of any potential change.""— CNBC's Rohan Goswami contributed to this article.",CNBC,12/06/2024,"['In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.', '""We will adapt as our customers\' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.', ""Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman."", 'In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.', 'Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation.""', ""He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks."", ""Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday."", 'Southwest on Monday said in response to the activist campaign that its board backed the company\'s leaders and the airline\'s strategy, while it will also ""look forward to further conversations with Elliott.', '""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.', 'The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.', 'Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion.', ""The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system."", 'Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience.', ""It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years."", '""I think customer preference is going beyond that,"" Jordan said Wednesday.', 'The carrier has spent months surveying customers to figure out what changes are needed, he added.', '""It\'s been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""', 'We are also studying the operational and financial benefits of any potential change.""—', ""CNBC's Rohan Goswami contributed to this article.""]",0.1227597138954453,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.",-0.1408947110176086,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.",2024-06-16 -Netflix hunts for a production partner for its Christmas NFL games,https://www.cnbc.com/2024/06/13/netflix-nfl-christmas-games-broadcast-partner.html,2024-06-13T19:57:54+0000,"In this articleNetflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier. The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment."" Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team. That's left the streamer looking for help.Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private. Disney won't produce the games because it already has college football obligations the same day, two of the people said.In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited.Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.There's also competition to consider.Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter. That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season.Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform. Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day. Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.For the NFL, Netflix represents the chance to reach a global, younger audience. There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games.The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.""Netflix and the league are looking to mirror the partnership that Amazon's Prime Video lined up with Comcast's NBC Sports for ""Thursday Night Football"" games.While NBC Sports' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.Netflix is interested in finding a similar partner, according to people familiar with its plans.If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers. Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple.""It's not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division.""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively. Alphabet's YouTube TV is also the new home of the ""Sunday Ticket"" package of games.Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming. NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.The league has been vocal in its push to add more streaming partners in an effort to widen its audience.That was the thinking behind the deal with Netflix to stream these Christmas Day games.When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.""I think that's best for consumers at this stage,"" Goodell said at the time.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,13/06/2024,"['In this articleNetflix is trying to get ready for some football.', 'The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter.', 'Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.', ""This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier."", 'The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment.""', ""Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team."", ""That's left the streamer looking for help."", ""Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private."", ""Disney won't produce the games because it already has college football obligations the same day, two of the people said."", ""In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited."", 'Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.', ""There's also competition to consider."", 'Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter.', ""That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season."", 'Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.', 'Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform.', ""Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day."", 'Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.', 'For the NFL, Netflix represents the chance to reach a global, younger audience.', ""There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games."", 'The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.', 'While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.', '""There aren\'t that many players in the space who are capable of doing this at a level that you would want to trust when you\'re launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.', '""Netflix and the league are looking to mirror the partnership that Amazon\'s Prime Video lined up with Comcast\'s NBC Sports for ""Thursday Night Football"" games.', 'While NBC Sports\' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.', 'Netflix is interested in finding a similar partner, according to people familiar with its plans.', ""If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers."", ""Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple."", '""It\'s not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""', ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division."", '""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.', 'Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.', 'Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.', 'Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively.', 'Alphabet\'s YouTube TV is also the new home of the ""Sunday Ticket"" package of games.', 'Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming.', 'NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.', 'The league has been vocal in its push to add more streaming partners in an effort to widen its audience.', 'That was the thinking behind the deal with Netflix to stream these Christmas Day games.', 'When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.', '""I think that\'s best for consumers at this stage,"" Goodell said at the time.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1863829998875434,"Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day.","Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.",0.6477434784173965,"NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.","""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.",2024-06-16 -From dying mall brand to Wall Street winner: How Abercrombie & Fitch pulled off retail's biggest comeback,https://www.cnbc.com/2024/06/13/inside-abercrombie-and-fitchs-comeback.html,2024-06-13T13:23:39+0000,"In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations. Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook. She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer. Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.",CNBC,13/06/2024,"['In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer.', ""Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations."", 'Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.', ""Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook."", ""She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer."", 'Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.', ""To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.""]",0.3602311650416981,"Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.","Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.",0.9919991195201874,Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations.,,2024-06-16 -JLR invests £1m to help police stop car thefts,https://www.bbc.co.uk/news/articles/cpee844x4yvo,2024-06-13T23:04:16.471Z,"Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK. The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering. Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft. However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover. Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry. Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000. He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement. Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “We’re just really disappointed. We loved the car but because of the insurance the experience of owning it went downhill so quick.” Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account. Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit. That, in turn, can push up premiums. For Jaguar Land Rover, this has become a problem. The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty. That kind of prestige comes at a cost. The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000. But embarrassingly for the company, it also has a reputation for being vulnerable to theft. Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”. He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security. He accused the insurance industry of failing to take account of all the available information when setting premiums. The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs. Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes. The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”. It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad. The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers. At the same time, it says it has been working hard to make its vehicles less vulnerable to theft. It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen. ",BBC,13/06/2024,"['Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK.', 'The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.', 'Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.', 'However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.', 'Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry.', 'Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000.', 'He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement.', 'Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “', 'We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “', 'We’re just really disappointed.', 'We loved the car but because of the insurance the experience of owning it went downhill so quick.”', 'Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account.', 'Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit.', 'That, in turn, can push up premiums.', 'For Jaguar Land Rover, this has become a problem.', 'The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty.', 'That kind of prestige comes at a cost.', 'The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000.', 'But embarrassingly for the company, it also has a reputation for being vulnerable to theft.', 'Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”.', 'He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security.', 'He accused the insurance industry of failing to take account of all the available information when setting premiums.', 'The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.', 'Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes.', 'The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”.', 'It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad.', 'The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers.', 'At the same time, it says it has been working hard to make its vehicles less vulnerable to theft.', 'It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen.']",-0.023968439722839,"The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.","Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.",-0.1384519829469568,The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.,"However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.",2024-06-16 -Elon Musk wins record-breaking Tesla pay deal from shareholders,https://www.bbc.co.uk/news/articles/cleezyxjv4jo,2024-06-13T04:18:36.115Z,"Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas. The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders. The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price. ""Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting. The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package. However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.” The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk. In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"". Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"". She also highlighted Todd Maron, Tesla's former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"". Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal. The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure. But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base. The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""It's a pretty ringing endorsement,"" said car industry analyst Karl Brauer. Mr Musk got more than enough shareholder support ""to justify the package,"" he added. Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter. Shares in the company closed up nearly 3% after Mr Musk's announcement. The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price. Tesla had said that Mr Musk's goals were challenging. However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""My understanding is that there's been about 1,100% appreciation in Tesla stock. And that's pretty, pretty impressive. Most chief executives have never done anything like that,"" said Mr Brauer. On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC's Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""That’s a very, very good return,"" he said. Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000. Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company. Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said. Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success. Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes. Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk. ",BBC,13/06/2024,"[""Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas."", 'The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.', 'The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn).', 'The exact amount depends on the Tesla share price. ""', 'Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm\'s annual meeting.', ""The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package."", 'However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""', 'The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""', 'It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “', 'It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.”', 'The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk.', 'In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".', 'Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"".', 'She also highlighted Todd Maron, Tesla\'s former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"".', ""Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal."", ""The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure."", ""But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base."", 'The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""', 'It\'s a pretty ringing endorsement,"" said car industry analyst Karl Brauer.', 'Mr Musk got more than enough shareholder support ""to justify the package,"" he added.', 'Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter.', ""Shares in the company closed up nearly 3% after Mr Musk's announcement."", 'The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.', ""Tesla had said that Mr Musk's goals were challenging."", 'However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""', ""My understanding is that there's been about 1,100% appreciation in Tesla stock."", ""And that's pretty, pretty impressive."", 'Most chief executives have never done anything like that,"" said Mr Brauer.', 'On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC\'s Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""', 'That’s a very, very good return,"" he said.', 'Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000.', ""Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company."", 'Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said.', ""Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success."", ""Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes."", ""Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk.""]",0.269444758336889,"The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.","In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".",0.4500754390444074,"But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base.","The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure.",2024-06-16 -The hidden costs of owning a home are surging for Americans,https://edition.cnn.com/2024/06/11/business/homeownership-costs-inflation/index.html," - Updated - 8:48 AM EDT, Wed June 12, 2024 - ","The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments. - - US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study. - - That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home. - - All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance. - - The findings are another reminder of how much more expensive life has become since Covid-19. - - New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses. - - Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics. That’s well above the overall inflation rate of 3.3%. - - Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated. The housing market is historically unaffordable. - - But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it. - - The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found. - - Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance. - - Home insurance premiums have surged in recent years, in part because of extreme weather. - - “My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021. - - Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region. - - “My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said. - - Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global. The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage. And high inflation made it that much more expensive to rebuild properties. - - Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs. - - “The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection. We bought it as is,” she said. “We knew the plumbing was old but it’s falling apart.” - - To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service. - - Schauer isn’t alone among Californians grappling with high hidden costs of homeownership. - - The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii. - - The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515). - - By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate. - - Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%). - - Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020. - - Those gains have padded the net worth of millions of Americans. Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve. - - The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes. - - Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers. - - “A lot of first-time buyers think of the closing table as the finish line,” he said. “But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.” - - Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage. - - “You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “But once you own, you have to set aside money for these unexpected costs.”",CNN,12/06/2024,"['The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments.', 'US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study.', 'That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home.', 'All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance.', 'The findings are another reminder of how much more expensive life has become since Covid-19.', 'New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses.', 'Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics.', 'That’s well above the overall inflation rate of 3.3%.', 'Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated.', 'The housing market is historically unaffordable.', 'But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it.', 'The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found.', 'Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance.', 'Home insurance premiums have surged in recent years, in part because of extreme weather.', '“My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021.', 'Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region.', '“My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said.', 'Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global.', 'The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.', 'And high inflation made it that much more expensive to rebuild properties.', 'Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs.', '“The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection.', 'We bought it as is,” she said. “', 'We knew the plumbing was old but it’s falling apart.”', 'To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service.', 'Schauer isn’t alone among Californians grappling with high hidden costs of homeownership.', 'The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii.', 'The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515).', 'By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate.', 'Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).', 'Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020.', 'Those gains have padded the net worth of millions of Americans.', 'Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve.', 'The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.', 'Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers.', '“A lot of first-time buyers think of the closing table as the finish line,” he said. “', 'But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.”', 'Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage.', '“You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “', 'But once you own, you have to set aside money for these unexpected costs.”']",0.0582950305030747,"The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",0.2334338873624801,"Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",2024-06-16 -Alex Jones ordered to sell assets to pay Sandy Hook debt,https://www.bbc.co.uk/news/articles/cj55v57v2z2o,2024-06-14T19:27:50.334Z,"A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting. However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand. Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack. The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns. According to recent court filings, Mr Jones has around $8.6m in personal assets. The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate. According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items. Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure. The decision does not remove Free Speech Systems' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""There's no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “I think creditors are better served in pursuing their state court rights."" One of the attorneys for the families said they would move quickly to collect damages. “The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""Alex Jones is neither a martyr nor a victim. He is the perpetrator of the worst defamation in American history."" Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents. Twenty young children and six school staff were killed in the attack. At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors."" Mr Jones has since acknowledged that the Sandy Hook killings occurred. Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers. The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy. Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring. On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him. He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “I would have been off the air today if the judge hadn’t done the right thing. We live to fight another day.” During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars. But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales. ",BBC,14/06/2024,"[""A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting."", 'However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand.', 'Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack.', ""The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns."", 'According to recent court filings, Mr Jones has around $8.6m in personal assets.', 'The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate.', 'According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items.', 'Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure.', 'The decision does not remove Free Speech Systems\' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""', 'There\'s no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “', 'I think creditors are better served in pursuing their state court rights.""', 'One of the attorneys for the families said they would move quickly to collect damages. “', 'The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""', 'Alex Jones is neither a martyr nor a victim.', 'He is the perpetrator of the worst defamation in American history.""', 'Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.', 'Twenty young children and six school staff were killed in the attack.', 'At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors.""', 'Mr Jones has since acknowledged that the Sandy Hook killings occurred.', 'Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers.', 'The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy.', 'Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring.', 'On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him.', 'He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “', 'We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “', 'I would have been off the air today if the judge hadn’t done the right thing.', 'We live to fight another day.”', 'During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.', 'But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.']",-0.0736248575336421,"He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “","Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.",0.3448423743247986,"But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.","During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.",2024-06-16 -Housing demand wanes as buyers bank on interest rate cut,https://www.bbc.co.uk/news/articles/cmllreerzmro,2024-06-13T14:18:42.842Z,"House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests. UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year. Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May. Financial markets are forecasting that the Bank of England could cut interest rates in August or September. Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year. The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected."" It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known."" The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p. A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May. Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months. However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months."" Those surveyed by RICS said that demand was weakest in both south east and south west England. In contrast, prices were still robust in Scotland and Northern Ireland. ",BBC,13/06/2024,"['House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests.', 'UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year.', 'Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.', 'Financial markets are forecasting that the Bank of England could cut interest rates in August or September.', 'Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year.', 'The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected.""', 'It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known.""', ""The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p."", 'A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May.', 'Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months.', 'However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""', 'Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""', 'Those surveyed by RICS said that demand was weakest in both south east and south west England.', 'In contrast, prices were still robust in Scotland and Northern Ireland.']",0.0614846507055062,The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p.,Those surveyed by RICS said that demand was weakest in both south east and south west England.,-0.2277548267291142,"Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""","Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.",2024-06-16 -"Affirm buy now, pay later loans will be embedded into Apple Pay later this year",https://www.cnbc.com/2024/06/11/apple-pay-affirm-buy-now-pay-later-loans.html,2024-06-11T21:30:25+0000,"In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in its own update.""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.The move is a boost to Affirm and the buy now, pay later sector in general. When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm. But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more. The companies didn't provide details on the terms of the new loans.""The bottom-line — in our view — is that Affirm's strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers. Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email. Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",CNBC,11/06/2024,"['In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.', 'Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing.', 'Apple confirmed the news in its own update.', '""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.', 'The move is a boost to Affirm and the buy now, pay later sector in general.', 'When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm.', 'But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.', ""For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more."", ""The companies didn't provide details on the terms of the new loans."", '""The bottom-line — in our view — is that Affirm\'s strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.', 'Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.', 'Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""', 'This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony\'s chief growth officer, said in an email.', 'Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.', ""Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue."", '""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.']",0.3099241024494723,"This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",0.4899860024452209,"Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",2024-06-16 -‘Inside Out 2’ jolts a sleepy summer box office,https://edition.cnn.com/2024/06/16/business/inside-out-2-summer-box-office/index.html," - Published - 5:35 PM EDT, Sun June 16, 2024 - ","It was a weekend no doubt filled with Joy for Disney. The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend. - - Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million. According to Comscore and Disney, “Inside Out 2” has also cinched the No. 2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.” It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far. - - “This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theaters across the United States. “We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.” - - Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office. The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season. - - Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.” - - “Disney is still in the early phases of its refocused theatrical prioritization,” he said. “Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.” - - In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster. - - “Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after “The Marvels” disappointed last November with a $47 million opening weekend. The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26. - - “The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria. - - Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data. But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.” - - “This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.",CNN,16/06/2024,"['It was a weekend no doubt filled with Joy for Disney.', 'The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend.', 'Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million.', 'According to Comscore and Disney, “Inside Out 2” has also cinched the No.', '2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.”', 'It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far.', '“This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtimedata from thousands of movie theaters across the United States. “', 'We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.”', 'Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office.', 'The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.', 'Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.”', '“Disney is still in the early phases of its refocused theatrical prioritization,” he said. “', 'Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.”', 'In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster.', '“Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after“The Marvels” disappointed last Novemberwith a $47 million opening weekend.', 'The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26.', '“The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria.', 'Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data.', 'But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.”', '“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.']",0.136589664167877,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",0.4915643018834731,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",2024-06-16 -"Bezos' Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program",https://www.cnbc.com/2024/06/13/pentagon-picks-blue-origin-spacex-ula-in-5point6-billion-rocket-program.html,2024-06-14T11:37:37+0000,"In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time.Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts. Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.Space Force outlined a ""mutual fund"" strategy to buying launches from companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",CNBC,14/06/2024,"[""In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time."", ""Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program."", ""Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program."", 'Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.', 'Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts.', 'Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.', 'Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that']",0.2602735573621667,Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.,"Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",0.8293253978093466,"Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.",,2024-06-16 -"WNBA reports record TV viewership for 2024 season, highest game attendance in 26 years",https://www.cnbc.com/2024/06/10/wnba-reports-record-viewership-highest-game-attendance-years-caitlin-clark.html,2024-06-10T19:52:49+0000,"The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday.The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release. Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers.About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league. More than half those games were sold out.The WNBA attributed much of the growing fan engagement to its powerful rookie class. Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.The league also reported more diverse viewership. The number of people tuning in to games on TV grew 60% year over year among people of color. Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",CNBC,10/06/2024,"[""The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday."", ""The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release."", ""Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers."", 'About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league.', 'More than half those games were sold out.', 'The WNBA attributed much of the growing fan engagement to its powerful rookie class.', 'Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.', 'The league also reported more diverse viewership.', 'The number of people tuning in to games on TV grew 60% year over year among people of color.', 'Viewership in the first week of the season more than doubled for young girls and people under age 35.""We\'re encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.']",0.2499879106919789,"Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",,0.9979255497455596,The number of people tuning in to games on TV grew 60% year over year among people of color.,,2024-06-16 -Telehealth executives accused of $100m Adderall scheme,https://www.bbc.co.uk/news/articles/cd11qr67qj6o,2024-06-14T01:32:50.581Z,"US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances. US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company's clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"". America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic. Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee. Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials. They are charged with distribution of controlled substances. They could each face up to 20 years in prison if found guilty. Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task. The charges come amid a national shortage of the drug. Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement. Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"". The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify. They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes. Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"". They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails. ",BBC,14/06/2024,"['US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances.', 'US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company\'s clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"".', ""America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic."", 'Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee.', 'Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials.', 'They are charged with distribution of controlled substances.', 'They could each face up to 20 years in prison if found guilty.', 'Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task.', 'The charges come amid a national shortage of the drug.', 'Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""', 'These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement.', 'Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".', 'The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify.', 'They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes.', 'Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"".', 'They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.']",-0.1964394593112733,"They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",They could each face up to 20 years in prison if found guilty.,0.1511241197586059,"Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".","They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",2024-06-16 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-06-16 -Where’s inflation really heading? Traders and economists are using this real-time inflation gauge to get ahead of the curve,https://edition.cnn.com/2024/06/12/economy/inflation-real-time-data/index.html," - Published - 4:30 PM EDT, Wed June 12, 2024 - ","If you want to know how much a publicly traded company is worth at any given time, all you have to do is look up its market cap, which updates in real time during trading hours. - - But if you want to know how fast prices are rising in the US, you get two official updates a month — the Consumer Price Index and the Personal Consumption Expenditures price index. Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data. - - Despite these shortcomings, officials at the Federal Reserve rely on these government reports to help make crucial monetary policy decisions that directly influence the interest rates you pay on your mortgage and other kinds of debt. The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay. - - But a novel real-time inflation gauge called Truflation is trying to fix some of the issues with government inflation data that has long been considered the gold standard. - - While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans. The government also has a much longer history of producing inflation reports with extremely thorough standards. - - Unlike PCE and CPI, Truflation arrives at a new inflation rate on a near-daily basis, drawing from over 60 different data sources that provide three unique prices across more than 18 million goods and services. Some of the data providers include Amazon, Walmart, Nielsen, Hilton and Zillow. - - While the Bureau of Labor Statistics, the division of the Labor Department that produces monthly CPI reports, enlists a team of people to either physically go to businesses, call them up or scan websites to collect pricing data for 80,000 goods and services across the country, Truflation pays for some of the data. - - Over time, more providers have been sharing data for free because they recognize that having it incorporated into the model will give them more updated and accurate information on how competitive their pricing is, Stefan Rust, CEO and founder of Truflation, told CNN. - - That data goes through a rigorous process incorporating blockchain technology to verify its authenticity, which Truflation outlines in its public 20-page methodology. - - Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated. For most consumers, housing accounts for the majority of their spending, and is therefore assigned a greater weight than, for instance, clothing. That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate. - - Truflation uses the same process the government does to calculate relative importance, but it uses some different data to determine how consumers allocate their income. That accounts for some of the variation between the government’s inflation data and Truflation’s. - - Another discrepancy is that Truflation’s data is not seasonally adjusted, whereas the government’s monthly data is. That means that an increase in utility prices during the summer when it’s typically more expensive to cool your home would show up more in Truflation’s data than the government’s. - - As of Wednesday, Truflation put the nation’s annual inflation rate at 2.23%, just inches away from the Fed’s 2% target. In contrast, May’s CPI report released Wednesday morning arrived at a 3.3% inflation rate, matching precisely what Truflation predicted the gauge would come in at based on its data. Truflation is able to predict what government inflation reports will show by adjusting their data to when the government goes out and collects its own pricing data to form its monthly reports. - - Wall Street traders were the first group drawn to Truflation, Rust said. “They wanted the data to help them calculate where they felt, based on our data, the government BLS numbers would come out on.” - - Danielle DiMartino Booth, who advised Richard Fisher when he was the president of the Dallas Fed and who is now CEO and chief strategist at QI Research, said she uses Truflation “to identify where price pressures are cropping up” on a daily basis. That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN. - - While Fed officials have taken a greater interest in analyzing economic data from non-government sources to help shape their views on the economy, it remains to be seen if and how they’re using Truflation data. But it’s on their radar, said Rust, who says he has met with researchers from the New York and Dallas Fed.",CNN,12/06/2024,"['If you want to know how much a publicly traded company is worth at any given time, all you have to do is look up its market cap, which updates in real time during trading hours.', 'But if you want to know how fast prices are rising in the US, you get two official updates a month — the Consumer Price Index and the Personal Consumption Expenditures price index.', 'Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data.', 'Despite these shortcomings, officials at the Federal Reserve rely on these government reports to help make crucial monetary policy decisions that directly influence the interest rates you pay on your mortgage and other kinds of debt.', 'The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay.', 'But a novel real-time inflation gauge called Truflation is trying to fix some of the issues with government inflation data that has long been considered the gold standard.', 'While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans.', 'The government also has a much longer history of producing inflation reports with extremely thorough standards.', 'Unlike PCE and CPI, Truflation arrives at a new inflation rate on a near-daily basis, drawing from over 60 different data sources that provide three unique prices across more than 18 million goods and services.', 'Some of the data providers include Amazon, Walmart, Nielsen, Hilton and Zillow.', 'While the Bureau of Labor Statistics, the division of the Labor Department that produces monthly CPI reports, enlists a team of people to either physically go to businesses, call them up or scan websites to collect pricing data for 80,000 goods and services across the country, Truflation pays for some of the data.', 'Over time, more providers have been sharing data for free because they recognize that having it incorporated into the model will give them more updated and accurate information on how competitive their pricing is, Stefan Rust, CEO and founder of Truflation, told CNN.', 'That data goes through a rigorous process incorporating blockchain technology to verify its authenticity, which Truflation outlines in its public 20-page methodology.', 'Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated.', 'For most consumers, housing accounts for the majority of their spending, and is therefore assigned a greater weight than, for instance, clothing.', 'That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate.', 'Truflation uses the same process the government does to calculate relative importance, but it uses some different data to determine how consumers allocate their income.', 'That accounts for some of the variation between the government’s inflation data and Truflation’s.', 'Another discrepancy is that Truflation’s data is not seasonally adjusted, whereas the government’s monthly data is.', 'That means that an increase in utility prices during the summer when it’s typically more expensive to cool your home would show up more in Truflation’s data than the government’s.', 'As of Wednesday, Truflation put the nation’s annual inflation rate at 2.23%, just inches away from the Fed’s 2% target.', 'In contrast, May’s CPI report released Wednesday morning arrived at a 3.3% inflation rate, matching precisely what Truflation predicted the gauge would come in at based on its data.', 'Truflation is able to predict what government inflation reports will show by adjusting their data to when the government goes out and collects its own pricing data to form its monthly reports.', 'Wall Street traders were the first group drawn to Truflation, Rust said. “', 'They wanted the data to help them calculate where they felt, based on our data, the government BLS numbers would come out on.”', 'Danielle DiMartino Booth, who advisedRichard Fisherwhen he was the president of the Dallas Fed and who is now CEO and chief strategist at QI Research, said she uses Truflation “to identify where price pressures are cropping up” on a daily basis.', 'That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN.', 'While Fed officials have taken a greater interest in analyzing economic data from non-government sources to help shape their views on the economy, it remains to be seen if and how they’re using Truflation data.', 'But it’s on their radar, said Rust, who says he has met with researchers from the New York and Dallas Fed.']",0.2092583523485021,"While it’s valuable to have regularly updated inflation data, Truflation doesn’t have as much access to certain categories the government data tracks, namely education and health care prices, two big expenses for many Americans.","Both come with a lag, can be revised several months later and can even be indefinitely delayed in the event of a government shutdown, as was almost the case with September’s inflation data.",-0.1010499715805053,"That gives her a “better feel” of what’s happening on the ground versus the government’s data, Booth told CNN.",That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate.,2024-06-16 -Stellantis plans to grow Jeep sales 50% by 2027,https://www.cnbc.com/2024/06/13/stellantis-jeep-sales-growth.html,2024-06-13T18:09:38+0000,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis' investor day at its North American headquarters. ""We are going to reinforce the manufacturing footprint of Jeep.""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said. Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric. That's up from 18 currently.   ""We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon. A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV. Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck. Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier. The brand sold nearly 643,000 vehicles last year, down 6% from 2022. Jeep represented 42% of Stellantis' U.S. sales in 2023.",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis\' investor day at its North American headquarters. ""', 'We are going to reinforce the manufacturing footprint of Jeep.', '""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said.', 'Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric.', 'That\'s up from 18 currently. ""', 'We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.', 'Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.', 'Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon.', 'A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV.', 'Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.', ""A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck."", 'Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.', '""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis,Teslaand others.', 'The importance of such a vehicle has grown more apparent as Chinese automakers such as BYDandNiogrow their salesof less-expensive EVsoutside of China.', ""Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier."", 'The brand sold nearly 643,000 vehicles last year, down 6% from 2022.', ""Jeep represented 42% of Stellantis' U.S. sales in 2023.""]",0.1862019152259262,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.",,0.7979354679584503,"Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.","The brand sold nearly 643,000 vehicles last year, down 6% from 2022.",2024-06-16 -Green energy plan 'won't benefit' Welsh valley residents,https://www.bbc.co.uk/news/articles/cxwwdpgdjeyo,2024-06-17T15:44:05.665Z,"From the end of Dina Smith’s driveway, there is green as far as the eye can see. Sunlight touches the rolling hills and moorland peaks. ""Just look at it,"" she says as we take it all in. ""This is beautiful, untouched Mid Wales."" But this could all change if plans for a huge wind turbine project get the go-ahead. For Dina, the valley is a ""really special place"", where her, her daughters and their families live and where her grandfather grew up. In the run-up to the general election, she contacted the BBC through the Your Voice Your Vote portal with her concerns: ""I just don’t want my grandchildren looking around this valley with industrial views of turbines and pylons and roads, and ask: 'What did you do about it nanna?'"". The Towy Usk project is being proposed by the renewable energy firm Green GEN Cymru and would take power from 31 giant turbines on a 60-mile pylon ""pathway"" spanning almost the width of Wales, in order to connect to the national grid. Although it is the local council and Welsh government who grant planning permission, the reason the power lines have to run such a long way is that there are a limited number of points where big power projects can connect into the grid, which are controlled by UK government. And whoever is in charge of the next government has an incredibly difficult task on their hands: Keeping energy bills low while millions are still struggling, ensuring energy security and hitting green energy targets. Projects like this one in Wales are part of that mix. But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. ""It’s destroying the environment in an attempt to save the environment"" is the refrain that I keep hearing. In recent years, there have been huge advances in the development of off-shore wind, and residents here want the focus of the UK and Welsh government on off-shore renewable technology instead. But Abi Beck of RenewableUK Cymru says on-shore wind needs to remain part of the mix. “On-shore wind is the cheapest, it’s the quickest to build and it’s the most readily deployable technology we have for renewable energy. ""And we desperately need to upscale the amount of renewable energy we produce if we are going to be anywhere near meeting our targets in the next decade"", she said. The difficulty here is that the place the on-shore wind is generated is a very long way from the place it can be plugged into the UK network. Green GEN Cymru say they are listening to residents' concerns but that “the existing network in Mid and West Wales does not have nearly enough capacity to connect all the new renewable energy we need for our homes and businesses, locally and nationally."" Llandovery farmer Dyfan Walters knows that only too well. ""We all know the infrastructure needs improving”, he says. ""I’m not against renewable energy"". He and his wife Carys have just finished building their new family farm on the land that Carys grew up on. Now there are plans for two pylons in their fields so they’ve become members of the local Llandovery Pylon Steering Group. ""This plan isn’t going to benefit anyone here in the Towy Valley,"" Dyfan says. ""It’s to take energy to the grid which will be used by others"". As a result, Dyfan thinks Green GEN should use the latest technology to send the wires underground rather than use pylons, whatever the cost might be to the company. That is the bind - those living in the valley feel they are being made to pay the price for green targets made more than 200 miles away in Westminster. Labour says it will work with the private sector to double on-shore wind, triple solar power and quadruple off-shore wind by 2030. The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities. It says it seeks to ensure local areas that host on-shore wind directly benefit, including potentially through energy bill discounts. The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power. Plaid Cymru says Wales should have full control over energy powers without any upper limit or conditions set by the UK government, and ""that the beauty of Wales’ natural landscape should be preserved"". It says that large-scale pylon developments or solar developments should be considered in the context of their impact and alternative methods for linking renewable energy to the national grid should be implemented, including through the undergrounding of cables. Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure. It says the environment can be protected with more tree planting, more recycling and using less single-use plastics. The Green party wants wind power to provide about 70% of the UK’s electricity by 2030. The SNP says it is committed to ensuring that at least 50% of energy consumption comes from renewable sources by 2030. It would do so ""by striking a balance between appropriate developments and our natural environment"", it says. ",BBC,17/06/2024,"['From the end of Dina Smith’s driveway, there is green as far as the eye can see.', 'Sunlight touches the rolling hills and moorland peaks. ""', 'Just look at it,"" she says as we take it all in. ""', 'This is beautiful, untouched Mid Wales.""', 'But this could all change if plans for a huge wind turbine project get the go-ahead.', 'For Dina, the valley is a ""really special place"", where her, her daughters and their families live and where her grandfather grew up.', 'In the run-up to the general election, she contacted the BBC through the Your Voice Your Vote portal with her concerns: ""I just don’t want my grandchildren looking around this valley with industrial views of turbines and pylons and roads, and ask: \'What did you do about it nanna?\'"".', 'The Towy Usk project is being proposed by the renewable energy firm Green GEN Cymru and would take power from 31 giant turbines on a 60-mile pylon ""pathway"" spanning almost the width of Wales, in order to connect to the national grid.', 'Although it is the local council and Welsh government who grant planning permission, the reason the power lines have to run such a long way is that there are a limited number of points where big power projects can connect into the grid, which are controlled by UK government.', 'And whoever is in charge of the next government has an incredibly difficult task on their hands: Keeping energy bills low while millions are still struggling, ensuring energy security and hitting green energy targets.', 'Projects like this one in Wales are part of that mix.', 'But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. ""', 'It’s destroying the environment in an attempt to save the environment"" is the refrain that I keep hearing.', 'In recent years, there have been huge advances in the development of off-shore wind, and residents here want the focus of the UK and Welsh government on off-shore renewable technology instead.', 'But Abi Beck of RenewableUK Cymru says on-shore wind needs to remain part of the mix. “', 'On-shore wind is the cheapest, it’s the quickest to build and it’s the most readily deployable technology we have for renewable energy. ""', 'And we desperately need to upscale the amount of renewable energy we produce if we are going to be anywhere near meeting our targets in the next decade"", she said.', 'The difficulty here is that the place the on-shore wind is generated is a very long way from the place it can be plugged into the UK network.', 'Green GEN Cymru say they are listening to residents\' concerns but that “the existing network in Mid and West Wales does not have nearly enough capacity to connect all the new renewable energy we need for our homes and businesses, locally and nationally.""', 'Llandovery farmer Dyfan Walters knows that only too well. ""', 'We all know the infrastructure needs improving”, he says. ""', 'I’m not against renewable energy"".', 'He and his wife Carys have just finished building their new family farm on the land that Carys grew up on.', 'Now there are plans for two pylons in their fields so they’ve become members of the local Llandovery Pylon Steering Group. ""', 'This plan isn’t going to benefit anyone here in the Towy Valley,"" Dyfan says. ""', 'It’s to take energy to the grid which will be used by others"".', 'As a result, Dyfan thinks Green GEN should use the latest technology to send the wires underground rather than use pylons, whatever the cost might be to the company.', 'That is the bind - those living in the valley feel they are being made to pay the price for green targets made more than 200 miles away in Westminster.', 'Labour says it will work with the private sector to double on-shore wind, triple solar power and quadruple off-shore wind by 2030.', 'The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities.', 'It says it seeks to ensure local areas that host on-shore wind directly benefit, including potentially through energy bill discounts.', 'The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power.', 'Plaid Cymru says Wales should have full control over energy powers without any upper limit or conditions set by the UK government, and ""that the beauty of Wales’ natural landscape should be preserved"".', 'It says that large-scale pylon developments or solar developments should be considered in the context of their impact and alternative methods for linking renewable energy to the national grid should be implemented, including through the undergrounding of cables.', 'Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure.', 'It says the environment can be protected with more tree planting, more recycling and using less single-use plastics.', 'The Green party wants wind power to provide about 70% of the UK’s electricity by 2030.', 'The SNP says it is committed to ensuring that at least 50% of energy consumption comes from renewable sources by 2030.', 'It would do so ""by striking a balance between appropriate developments and our natural environment"", it says.']",0.2267821841939884,"The Conservative party says in its manifesto that it will ""ensure democratic consent for on-shore wind"" and strike the right balance between energy security and the views of their local communities.","But some local residents I have been speaking to have said the turbine construction would damage an existing forest, removing ancient trees along the pylon construction route. """,0.2812284827232361,The Liberal Democrats say they will accelerate the deployment of renewable power and deliver energy security by removing restrictions on new solar and wind power.,"Reform says that net zero is pushing up bills, damaging British industries like steel and making the UK less secure.",2024-06-16 -"Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair",https://www.cnbc.com/2024/06/10/southwest-luv-activist-elliott-stake.html,2024-06-10T20:05:51+0000,"In this articleActivist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals.Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday. Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet. Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation. Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said. Both executives started their Southwest careers in the 1980s. The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.Elliott in its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline.Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back. In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday. The company had a market capitalization of $16.6 billion as of Friday's close.Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other. But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.Elliott dismissed Southwest's upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline's leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.""Southwest's leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""A good retailer ... is always going to find ways to sell its customers more products.""Elliott said it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation. The activist also said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.Southwest isn't the only carrier facing activist pressure. Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.Elliott's campaigns at other companies have likewise centered on a change in leadership. Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances.In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American. Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.",CNBC,10/06/2024,"['In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.', 'Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday.', 'Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.', ""The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet."", 'Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.', 'The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation.', 'Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said.', 'Both executives started their Southwest careers in the 1980s.', 'The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.', ""Elliottin its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline."", 'Southwest said in a statement that its board ""is confident in our CEO and management\'s ability to execute against the company\'s strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.', '""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.', '""Southwest shares are down by more than 50% as of Friday\'s close from three years ago, when travel demand, led by domestic trips, was starting to come back.', 'In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.', ""The company had a market capitalization of $16.6 billion as of Friday's close."", 'Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other.', 'But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.', 'Elliott dismissed Southwest\'s upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline\'s leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.', '""Southwest\'s leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.', 'Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.', '""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""', 'A good retailer ... is always going to find ways to sell its customers more products.', '""Elliottsaid it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation.', 'Theactivistalso said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.', 'Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.', 'The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.', ""Southwest isn't the only carrier facing activist pressure."", 'Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.', ""Elliott's campaigns at other companies have likewise centered on a change in leadership."", ""Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances."", 'In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American.', ""Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.""]",0.2267985447349857,"Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.",In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.,0.2264580543224628,"In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.","""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back.",2024-06-16 -"Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial",https://www.cnbc.com/2024/06/10/moderna-combination-covid-flu-vaccine-shows-positive-late-stage-data.html,2024-06-10T11:53:11+0000,"In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial. The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax. Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview. Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year. The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid. Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.Moderna's messenger RNA combination shot, called mRNA-1083, is made up of both the company's vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot. Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials. The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients. The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above. The trial also compared Moderna's combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64. In both age groups, a single dose of Moderna's combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable. The most common side effects were injection site pain, fatigue, muscle pain and headache. The majority of those effects were mild to moderate in severity. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV. Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial. Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.",CNBC,10/06/2024,"['In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial.', 'The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.', ""Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview."", 'Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year.', 'The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid.', 'Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.', 'Moderna\'s messenger RNA combination shot, called mRNA-1083, is made up of both the company\'s vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot.', 'Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials.', 'The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients.', ""The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above."", 'The trial also compared Moderna\'s combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64.In both age groups, a single dose of Moderna\'s combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable.', 'The most common side effects were injection site pain, fatigue, muscle pain and headache.', 'The majority of those effects were mild to moderate in severity.', 'Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial.', 'Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.']",0.0396964476371143,"Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",0.7456303664616176,"The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",2024-06-16 -‘Just too burnt out’: Child care crisis crunches providers,https://edition.cnn.com/2024/06/15/business/child-care-crisis-providers/index.html," - Published - 9:00 AM EDT, Sat June 15, 2024 - ","For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work. - - “Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “And my response is always, ‘Well, I can’t do what you do either! So I’ll watch your kids and you go do that, because I’m better at this.’” - - Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks. She announced in May that she’s closing her doors before the end of August. - - “It’s emotionally and physically and mentally demanding,” Elandt says. “There’s not benefits. The pay is not anywhere near what it should be. And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.” - - Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike. - - Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia. The report looked at care for an infant and a 4-year-old. - - While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable. Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food. Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge. - - “If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says. - - The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay. Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. - - “It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure. - - The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies. Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic. - - The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.” - - An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act. Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat. - - Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden. She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff. In some cases the higher wages weren’t enough. A few months ago, she says, one of her employees left for a factory: “She needed to make a living.” - - The stresses of managing a tight budget and dealing with staff turnover have taken a toll.Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged. In May, she made the formal announcement that this summer would be the center’s last. - - The news left families and staff scrambling. Higgins, who is also a parent at My First Adventure, described the moment as “panic.” - - As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge. - - “It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “I think everybody was really aware during the height of the pandemic, with the critical workers and things like that. I don’t know if that has started to fade out for people.” - - The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership. As it stands, My First Adventure is expected to close in July. - - This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher. Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions. - - “We are literally shaping tomorrow’s youth,” Higgins says. “I think that needs to start being reflected in compensation and policies and where government funding is being directed.”",CNN,15/06/2024,"['For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work.', '“Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “', 'And my response is always, ‘Well, I can’t do what you do either!', 'So I’ll watch your kids and you go do that, because I’m better at this.’”', 'Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks.', 'She announced in May that she’s closing her doors before the end of August.', '“It’s emotionally and physically and mentally demanding,” Elandt says. “', 'There’s not benefits.', 'The pay is not anywhere near what it should be.', 'And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.”', 'Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike.', 'Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latestannual report.', 'Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state.', 'And the tab exceeded annualtypicalmortgage payments in 45 states, plus the District of Columbia.', 'The report looked at care for an infant and a 4-year-old.', 'While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable.', 'Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food.', 'Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge.', '“If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says.', 'The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high.', 'The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay.', 'Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants.', 'The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics.', '“It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure.', 'The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.', 'Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic.', 'The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children.', 'But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.”', 'An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.', 'Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat.', 'Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden.', 'She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.', 'In some cases the higher wages weren’t enough.', 'A few months ago, she says, one of her employees left for a factory: “She needed to make a living.”', 'The stresses of managing a tight budget and dealing with staff turnover have taken a toll.', 'Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged.', 'In May, she made the formal announcement that this summer would be the center’s last.', 'The news left families and staff scrambling.', 'Higgins, who is also a parent at My First Adventure, described the moment as “panic.”', 'As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge.', '“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “', 'I think everybody was really aware during the height of the pandemic, with the critical workers and things like that.', 'I don’t know if that has started to fade out for people.”', 'The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership.', 'As it stands, My First Adventure is expected to close in July.', 'This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher.', 'Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions.', '“We are literally shaping tomorrow’s youth,” Higgins says. “', 'I think that needs to start being reflected in compensation and policies and where government funding is being directed.”']",0.1751321793448637,"An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.","“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “",-0.2154543910707746,"The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.",She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.,2024-06-16 -"Barclays suspends sponsorship of Download, Latitude and Isle Of Wight festivals",https://www.bbc.co.uk/news/articles/crgg13nn0kgo,2024-06-14T15:37:14.843Z,"Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight. The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel. Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer. A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals."" The bank signed a five-year sponsorship deal with Live Nation in 2023. It is understood that the suspension does not apply to the full term of the contract. Mercury-nominated band Lankum, who are on the line-up for Suffolk's Latitude festival in July, were among the first to respond to the announcement. ""We welcome the news,"" they said on Instagram. ""Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""Standing together is the best foot forward."" The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays. Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza. A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid. The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe."" They added that the protests had led to intimidation of staff and vandalism of their branches. ""The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""It is time that leaders across politics, business, academia and the arts stand united against this."" A number of bands pulled out of this weekend's Download festival at Donington Park in Leicestershire. ""We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram. The bands Speed, Scowl, Zulu and Ithaca also joined the boycott. The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate. This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent."" Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"". Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent. British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"". Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee."" Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza. However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"". That includes companies ""that supply defence products to Nato and other allies including Ukraine"". It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments. Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard."" ",BBC,14/06/2024,"['Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight.', ""The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel."", 'Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer.', 'A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals.""', 'The bank signed a five-year sponsorship deal with Live Nation in 2023.', 'It is understood that the suspension does not apply to the full term of the contract.', 'Mercury-nominated band Lankum, who are on the line-up for Suffolk\'s Latitude festival in July, were among the first to respond to the announcement. ""', 'We welcome the news,"" they said on Instagram. ""', 'Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""', 'Standing together is the best foot forward.""', ""The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays."", 'Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza.', 'A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""', 'Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid.', 'The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe.""', 'They added that the protests had led to intimidation of staff and vandalism of their branches. ""', 'The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""', 'It is time that leaders across politics, business, academia and the arts stand united against this.""', 'A number of bands pulled out of this weekend\'s Download festival at Donington Park in Leicestershire. ""', 'We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram.', 'The bands Speed, Scowl, Zulu and Ithaca also joined the boycott.', 'The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate.', 'This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent.""', 'Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"".', ""Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent."", 'British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".', 'Fellow comedian Grace Campbell, the daughter of Sir Tony Blair\'s former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can\'t in good conscience take the fee.""', 'Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza.', 'However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"".', 'That includes companies ""that supply defence products to Nato and other allies including Ukraine"".', 'It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments.', 'Protest group Bands Boycott Barclays called the bank\'s decision to suspend its ties with the festivals a ""victory"". ""', 'As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""', 'Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard.""']",0.156580498070319,"Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee.""","British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".",-0.4070264975229899,"Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""","The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. """,2024-06-16 -Alstom: Derby train-maker wins £370m Elizabeth line order,https://www.bbc.co.uk/news/articles/c29986423x9o,2024-06-14T17:05:05.380Z,"Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line. The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders. The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network. Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site. In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work. Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May. Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them. A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city. Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “The UK remains one of Alstom’s most important global markets.” The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT). Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046. The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future. Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date. Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210. ",BBC,14/06/2024,"[""Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line."", 'The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders.', 'The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network.', 'Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site.', 'In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.', 'Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May.', 'Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them.', 'A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city.', 'Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “', 'The UK remains one of Alstom’s most important global markets.”', 'The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT).', 'Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046.', 'The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.', 'Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date.', 'Follow BBC Derby on Facebook, on X, or on Instagram.', 'Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210.']",0.0484999424552245,"The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.","In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",0.3100224733352661,Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “,"In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",2024-06-16 -Boeing investigated after 'Dutch roll',https://www.bbc.co.uk/news/articles/c722j0rryrxo,2024-06-14T17:02:52.917Z,"US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll. It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed. The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes. The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny. Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation. Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers. It said tests performed so far indicate that the correct alloy was used, despite the false documentation. The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely,” the company said. The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion. Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""The problem is we've lost traceability."" The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue. Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"". The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California. The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage. A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics. The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant. After the incident came to light, Boeing sent a message to aircraft operators, which implied that the aircraft might have been damaged while on the ground. ""Initial review of publicly available weather data indicates the event airplane was potentially exposed to a high wind event during May 2024 prior to the event flight. While a probable cause has not been established for this event by the NTSB, Boeing reminds all operators of the importance of high wind inspections,"" it said. Safety campaigners have raised alarm about the quality of recent planes produced by Boeing. An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing. Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues. Theo Leggett contributed to this article. ",BBC,14/06/2024,"['US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll.', 'It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed.', 'The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes.', 'The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny.', 'Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation.', 'Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers.', 'It said tests performed so far indicate that the correct alloy was used, despite the false documentation.', 'The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""', 'To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely,” the company said.', 'The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion.', 'Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""', 'It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""', 'The problem is we\'ve lost traceability.""', 'The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue.', 'Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".', 'The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California.', 'The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.', 'A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""', 'Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics.', 'The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant.', 'After the incident came to light, Boeing sent a message to aircraft operators, which implied that the aircraft might have been damaged while on the ground. ""', 'Initial review of publicly available weather data indicates the event airplane was potentially exposed to a high wind event during May 2024 prior to the event flight.', 'While a probable cause has not been established for this event by the NTSB, Boeing reminds all operators of the importance of high wind inspections,"" it said.', 'Safety campaigners have raised alarm about the quality of recent planes produced by Boeing.', 'An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing.', 'Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues.', 'Theo Leggett contributed to this article.']",-0.0429006905137657,"Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".","The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.",-0.7044290815080915,"Our analysis shows the in-service fleet can continue to fly safely,” the company said.","The problem is we've lost traceability.""",2024-06-16 -"Boeing and NASA delay Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft",https://www.cnbc.com/2024/06/14/boeing-and-nasa-delay-starliner-astronaut-return-to-june-22.html,2024-06-14T19:14:12+0000,"In this articleBoeing's Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS. The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET. That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.NASA said those tests include operating the capsule's hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program's managers and astronauts ""finalize departure planning and operations.""The agency also noted that Starliner would ""repeat some 'safe haven' testing,"" but did not explain why that was necessary. A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency. NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC's request for further clarification until a press conference that will be held Tuesday before the planned departure.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions. Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.Before the launch, a single leak in Calypso's helium propulsion system was identified. The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks. NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system. Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock.NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail. Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance. NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.Starliner was once seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years. However, various setbacks and delays have steadily slipped Starliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.Correction: A previous version of this article misstated the duration of the flight test.",CNBC,14/06/2024,"['In this articleBoeing\'s Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.', ""This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS."", 'The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.', 'Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.', ""But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET."", 'That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.', 'NASA said those tests include operating the capsule\'s hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program\'s managers and astronauts ""finalize departure planning and operations.', '""The agency also noted that Starliner would ""repeat some \'safe haven\' testing,"" but did not explain why that was necessary.', 'A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency.', 'NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC\'s request for further clarification until a press conference that will be held Tuesday before the planned departure.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions.', 'Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.', ""Before the launch, a single leak in Calypso's helium propulsion system was identified."", ""The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks."", 'NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.', 'While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system.', 'Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.', ""Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock."", ""NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail."", ""Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance."", 'NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.', 'Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.', ""Starliner wasonce seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years."", 'However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.', 'Correction: A previous version of this article misstated the duration of the flight test.']",0.0231651503464283,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.",0.2881059249242146,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.",2024-06-16 -UAW president under investigation by federal monitor,https://www.cnbc.com/2024/06/10/uaw-president-shawn-fain-federal-monitor-investigation.html,2024-06-11T00:54:50+0000,"DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents.The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they'll find: a UAW leadership committed to serving the membership, and running a democratic union. We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.""The union is in the middle of a national organizing drive of nonunion automakers. The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.The court filing, which was first reported by The Detroit News, says Barofsky's concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union's Regional Directors.""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.""The filing states more than three months after the monitor's initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.""The monitor believes the ""union's delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges. It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.",CNBC,11/06/2024,"['DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.', 'The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president.', 'He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.', 'Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.', '""The Monitor has attempted for months to garner the Union\'s cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor\'s access to requested documents,"" the court filing reads.', ""More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents."", 'The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.', 'Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.', '""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they\'ll find: a UAW leadership committed to serving the membership, and running a democratic union.', ""We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job."", '""The union is in the middle of a national organizing drive of nonunion automakers.', ""The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis."", 'The court filing, which was first reported by The Detroit News, says Barofsky\'s concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union\'s Regional Directors.', '""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.', 'In response, the filing says Mock ""lodged allegations of her own against the Union\'s President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.', '""The filing states more than three months after the monitor\'s initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.', '""The monitor believes the ""union\'s delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.', 'The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges.', 'It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.']",0.0562732771542696,"We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.","In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.",-0.0189127666609627,"The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.","""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.",2024-06-16 -"Stellantis aims to correct 'arrogant' mistakes in U.S. market, CEO says",https://www.cnbc.com/2024/06/13/stellantis-has-achieved-9-billion-in-cost-reductions-from-merger.html,2024-06-13T20:28:51+0000,"In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company's investor day at its North American headquarters. ""When I'm saying that you are arrogant, I'm talking about myself. I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there.""During the investor day, Tavares and his top lieutenants broadly updated investors on the company's operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty. The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets. Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days. Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.While sales have been down, the company remains among the most profitable automakers globally. Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive. That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formed one of the world's largest automakers.Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing.Cost-cutting has been a critical mission of the veteran automotive executive. Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions.Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker's 2030 ""Dare Forward"" strategic plan.Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks. The automaker anticipates that Jeep will be a main driver for the company globally. Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Tavares said. ""We are going to reinforce the manufacturing footprint of Jeep.""",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker\'s U.S. operations that led to sales declines, bloated inventories and investor concerns.', 'Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.', '""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company\'s investor day at its North American headquarters. ""', ""When I'm saying that you are arrogant, I'm talking about myself."", ""I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there."", '""During the investor day, Tavares and his top lieutenants broadly updated investors on the company\'s operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty.', 'The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.', ""Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets."", ""Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue."", ""In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.', 'While sales have been down, the company remains among the most profitable automakers globally.', ""Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.', 'Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive.', ""That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formedone of the world's largest automakers."", ""Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing."", 'Cost-cutting has been a critical mission of the veteran automotive executive.', ""Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions."", 'Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.', 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', '""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker\'s 2030 ""Dare Forward"" strategic plan.', 'Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.', 'The automaker anticipates that Jeep will be a main driver for the company globally.', 'Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Tavares said. ""', 'We are going to reinforce the manufacturing footprint of Jeep.""']",0.0910056018442069,"Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.","In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.",0.2339884865851629,"Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year.","Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.",2024-06-16 -"FDA advisors recommend Eli Lilly's Alzheimer's drug donanemab, paving way for approval",https://www.cnbc.com/2024/06/10/fda-advisors-recommend-eli-lilly-alzheimers-drug-donanemab.html,2024-06-10T21:08:08+0000,"In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year.The FDA typically follows the recommendations of its advisory panels but is not required to do so. If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai.An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease. But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks. ""There's a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday. Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.Eli Lilly is ""pleased"" with the panel's recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.The recommendation follows snags Eli Lilly faced in bringing the treatment to market.The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment.It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year. The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it. The FDA appears to be reviewing donanemab more cautiously after its polarizing approval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai. The agency granted accelerated approval to that treatment despite a negative recommendation from an advisory panel.Biogen and Eisai have since dropped the drug. Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it. But neither of the treatments are cures.Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal. Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug. Biogen and Eisai signaled in April that they are seeing adoption pick up.In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins. That is a method known as intravenous infusion. Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted. He expects donanemab to rake in $500 million in sales by the end of the decade. Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia.Those results are comparable to those seen with Leqembi. Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity. People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study. Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau.Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau. The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug's effect. Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold. By the end of the trial, 60% of participants on donanemab were able to stop treatment.Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding. The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms. They included headache, confusion, dizziness, nausea and in rare cases, seizures.Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.If donanemab is approved, FDA staff said they expect the drug's label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4. They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.That is consistent with Leqembi's approval label.There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff. That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.",CNBC,10/06/2024,"[""In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year."", 'The FDA typically follows the recommendations of its advisory panels but is not required to do so.', ""If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai."", ""An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease."", 'But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.', ""In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks."", '""There\'s a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday.', 'Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.', 'Eli Lilly is ""pleased"" with the panel\'s recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.', 'The recommendation follows snags Eli Lilly faced in bringing the treatment to market.', ""The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment."", 'It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.', 'The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it.', ""The FDA appears to be reviewing donanemab more cautiously after its polarizingapproval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai."", 'The agencygrantedaccelerated approvaltothat treatment despite a negative recommendation from an advisory panel.', 'Biogen and Eisai have since dropped the drug.', ""Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease."", ""Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it."", 'But neither of the treatments are cures.', 'Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal.', ""Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug."", 'Biogen and Eisai signaled in April that they are seeing adoption pick up.', 'In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly\'s drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.', 'That is a method known as intravenous infusion.', 'Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted.', 'He expects donanemab to rake in $500 million in sales by the end of the decade.', ""Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia."", 'Those results are comparable to those seen with Leqembi.', ""Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity."", 'People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study.', ""Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau."", 'Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau.', 'The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug\'s effect.', 'Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.', '""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.', ""Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold."", 'By the end of the trial, 60% of participants on donanemab were able to stop treatment.', 'Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.', 'Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding.', 'The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms.', 'They included headache, confusion, dizziness, nausea and in rare cases, seizures.', 'Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.', 'If donanemab is approved, FDA staff said they expect the drug\'s label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4.', 'They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.', ""That is consistent with Leqembi's approval label."", ""There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff."", ""That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.""]",0.0600911008433513,"It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.",Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease.,0.2095230562346322,Biogen and Eisai signaled in April that they are seeing adoption pick up.,"In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.",2024-06-16 -Nathan's hot dog contest parts ways with champion Joey Chestnut over plant-based frank partnership,https://www.cnbc.com/2024/06/11/joey-chestnut-out-of-nathans-hot-dog-contest.html,2024-06-12T00:48:49+0000,"In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year.Major League Eating announced Tuesday that it's parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year's competition, hosted by Nathan's Famous.Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement. The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment.An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year. CNBC has not independently verified the account. The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with. This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event.""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world. So I hope he's there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan's to accommodate Chestnut's requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021. Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN. It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline.Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",CNBC,12/06/2024,"[""In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year."", 'Major League Eating announced Tuesday that it\'s parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year\'s competition, hosted by Nathan\'s Famous.', 'Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement.', ""The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment."", 'An account on X under Chestnut\'s name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan\'s hot dog eating contest this year.', 'CNBC has not independently verified the account.', 'The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.', ""This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event."", '""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.', 'For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.', '""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.', 'So I hope he\'s there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan\'s to accommodate Chestnut\'s requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.', ""Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021.Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN."", ""It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline."", 'Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.']",0.2157806098957802,"""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.","An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year.",-0.5937366843223572,"""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.","Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",2024-06-16 -China probes European pork prices after EU hikes tariffs on its electric cars,https://edition.cnn.com/2024/06/17/business/china-europe-pork-imports/index.html," - Published - 7:53 AM EDT, Mon June 17, 2024 - ","Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China. - - The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs. - - China’s Ministry of Commerce said Monday that local agricultural producers had requested an anti-dumping investigation into pork and pig by-products from the EU and that a preliminary inspection had found sufficient grounds for a formal probe into whether their prices are artificially low. - - It added that the investigation should conclude within a year but could be extended by six months if required. - - A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports. The EU is the second-biggest pork producer after China. - - According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year. Almost half of that came from Spain, with the Netherlands, Denmark and France also exporting substantial amounts. - - Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers. China could also target European wine and luxury goods, according to analysts at Rhodium Group, a think tank. - - Olof Gill, a spokesperson for the European Commission, the EU’s executive arm, told reporters Monday at that the EU would follow the investigation into pork products “very closely” and “intervene as appropriate” to ensure the probe complies with rules set by the World Trade Organization. - - Responding to a question about the EU’s considerable agricultural subsidies, Gill added that the bloc was “not the least bit worried” that the WTO could find in China’s favor. “Any subsidies… are strictly in line with our WTO obligations,” he said. - - Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November. The provisional tariffs are due to take effect on July 4. - - The European Commission announced last week that additional tariffs of between 17.4% and 38.1% would be applied to EVs manufactured in China on top of the existing EU duty of 10%. That takes the highest overall rate to close to 50%. - - Beijing immediately denounced the measure, which could hurt its ambitions to grow EV exports and is likely to hasten efforts by Chinese carmakers to set up factories in Europe. - - Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports. - - Xiaofei Xu and Maisie Linford contributed reporting.",CNN,17/06/2024,"['Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China.', 'The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs.', 'China’s Ministry of Commerce said Monday that local agricultural producers had requested an anti-dumping investigation into pork and pig by-products from the EU and that a preliminary inspection had found sufficient grounds for a formal probe into whether their prices are artificially low.', 'It added that the investigation should conclude within a year but could be extended by six months if required.', 'A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports.', 'The EU is the second-biggest pork producer after China.', 'According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year.', 'Almost half of that came from Spain, with the Netherlands, Denmark and France also exporting substantial amounts.', 'Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers.', 'China could also target European wine and luxury goods, according to analysts at Rhodium Group, a think tank.', 'Olof Gill, a spokesperson for the European Commission, the EU’s executive arm, told reporters Monday at that the EU would follow the investigation into pork products “very closely” and “intervene as appropriate” to ensure the probe complies with rules set by the World Trade Organization.', 'Responding to a question about the EU’s considerable agricultural subsidies, Gill added that the bloc was “not the least bit worried” that the WTO could find in China’s favor. “', 'Any subsidies… are strictly in line with our WTO obligations,” he said.', 'Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November.', 'The provisional tariffs are due to take effect on July 4.', 'The European Commission announced last week that additionaltariffs of between 17.4% and 38.1% would be applied to EVs manufactured in China on top of the existing EU duty of 10%.', 'That takes the highest overall rate to close to 50%.', 'Beijing immediately denounced the measure, which could hurt its ambitions to grow EV exports and is likely to hasten efforts by Chinese carmakers to set up factories in Europe.', 'Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.', 'Xiaofei Xu and Maisie Linford contributed reporting.']",-0.0764461405553013,Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.,The move risks escalating tension in one of the world’s biggest trading relationships and will heighten fears among EU exporters that Beijing could go after their goods to retaliate against the provisional EV tariffs.,-0.506738692522049,That takes the highest overall rate to close to 50%.,Brussels is also investigating China’s state support for wind turbine companies and solar panel suppliers amid concerns that the country’s industrial overcapacity is flooding markets elsewhere with cheap exports.,2024-06-16 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-06-16 -Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?,https://edition.cnn.com/2024/06/15/business/why-do-small-trader-joes-bags-keep-going-viral/index.html," - Published - 3:00 AM EDT, Sat June 15, 2024 - ","A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag. Right away, he was on the lookout. When he went to London on a trip, he even deputized his mom to keep an eye out for the bags. - - After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding. Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack). Others may not be so lucky. The mini-coolers have already been listed for several times that price on eBay. - - Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral. They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire. - - Before social media, it took a lot more for a niche item to hit. “You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school. But now “you can have it all happen instantly across the whole country.” - - This isn’t even the first time little Trader Joe’s bags have gone viral. In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out. - - Most brands don’t see their products take off this way, especially not twice in a row. On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun. - - But Trader Joe doesn’t have much of a social media presence. The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items — which may well have been popular on their own — even more successful. These creators are playing a key role in the worlds of retail marketing. - - Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative. Her channels are popular enough for her to earn payment from TikTok. - - She’s not the only one posting this type of content. Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores. It had more than 54,000 followers on the social platform on Friday. Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings. - - Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity. - - “What is up with these tote bags? Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said. - - “We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “We had no inkling that they would be this exciting, this quickly, for so many customers. We had actually hundreds of thousands of bags come in and go out within a week.” - - This time, with the brightly colored coolers, the brand seemed more prepared. “Consider yourself fairly warned: these Totes are totally destined to become the next craze!” screams a product description on the grocery chain’s site. - - Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items. A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer. - - If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items. Some people might just decide to pick one up on their next grocery trip because they saw it online. Others may seek the item out specifically, rushing to stores before they sell out. - - “When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.” - - That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted. - - “You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said. Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public. - - These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added. - - For some, the treasure hunt aspect may be part of the fun — especially when it ends not only with the coveted item, but a chance to post evidence of success online. - - Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett. His videos on Instagram and TikTok are mostly devoted to pop culture and Disney. But he likes the chain, and he likes to post about what he buys there. - - “You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “It’s always a surprise.” - - The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. - - “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said. That’s why, she thinks, the branded bags have been such a hit. “People want a little piece of Trader Joe’s to carry around with them.”",CNN,15/06/2024,"['A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag.', 'Right away, he was on the lookout.', 'When he went to London on a trip, he even deputized his mom to keep an eye out for the bags.', 'After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding.', 'Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack).', 'Others may not be so lucky.', 'The mini-coolers have already been listed for several times that price on eBay.', 'Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral.', 'They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire.', 'Before social media, it took a lot more for a niche item to hit. “', 'You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school.', 'But now “you can have it all happen instantly across the whole country.”', 'This isn’t even the first time little Trader Joe’s bags have gone viral.', 'In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out.', 'Most brands don’t see their products take off this way, especially not twice in a row.', 'On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun.', 'But Trader Joe doesn’t have much of a social media presence.', 'The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.', 'These creators are playing a key role in the worlds of retail marketing.', 'Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday.', 'Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said.', 'Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative.', 'Her channels are popular enough for her to earn payment from TikTok.', 'She’s not the only one posting this type of content.', 'Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores.', 'It had more than 54,000 followers on the social platform on Friday.', 'Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings.', 'Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.', '“What is up with these tote bags?', 'Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “', 'I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said.', '“We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “', 'We had no inkling that they would be this exciting, this quickly, for so many customers.', 'We had actually hundreds of thousands of bags come in and go out within a week.”', 'This time, with the brightly colored coolers, the brand seemed more prepared. “', 'Consider yourself fairly warned: these Totes are totally destined to become the next craze!”', 'screams a product description on the grocery chain’s site.', 'Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items.', 'A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer.', 'If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items.', 'Some people might just decide to pick one up on their next grocery trip because they saw it online.', 'Others may seek the item out specifically, rushing to stores before they sell out.', '“When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.”', 'That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted.', '“You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said.', 'Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public.', 'These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added.', 'For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.', 'Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett.', 'His videos on Instagram and TikTok are mostly devoted to pop culture and Disney.', 'But he likes the chain, and he likes to post about what he buys there.', '“You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “', 'It’s always a surprise.”', 'The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that.', '“You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.', 'That’s why, she thinks, the branded bags have been such a hit. “', 'People want a little piece of Trader Joe’s to carry around with them.”']",0.1861896278490253,"For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.",Consider yourself fairly warned: these Totes are totally destined to become the next craze!”,0.7747427523136139,"The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.","Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.",2024-06-16 -Alan Bates learned of Birthday Honours knighthood as Post Office boss was grilled,https://www.bbc.co.uk/news/articles/c722kzgp90lo,2024-06-14T21:30:48.540Z,"The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours. He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC. He was told that he had to let the Honours Committee know by the end of the day whether he would accept. For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts. He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer. Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.' And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said. He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “I think it’s another string to my bow to try and drive the rest of the campaign home. We have got to get funding for everybody. And that’s been my priority now for some time. And if it helps there, then great. It’s wonderful.” Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “I think the nation will support us if we have to go ahead with another case,” he said. The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998. Had he ever thought about giving up and letting it go? “I could never do that. We’ve all seen the horror stories, and there are so many. I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told. I mean, they’re absolutely diabolical. ""What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.” He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer. Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”. ",BBC,14/06/2024,"[""The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours."", 'He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “', 'It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC.', 'He was told that he had to let the Honours Committee know by the end of the day whether he would accept.', 'For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts.', 'He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.', 'Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “', ""I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.'"", 'And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said.', 'He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “', 'I think it’s another string to my bow to try and drive the rest of the campaign home.', 'We have got to get funding for everybody.', 'And that’s been my priority now for some time.', 'And if it helps there, then great.', 'It’s wonderful.”', 'Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “', 'I think the nation will support us if we have to go ahead with another case,” he said.', ""The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998."", 'Had he ever thought about giving up and letting it go? “', 'I could never do that.', 'We’ve all seen the horror stories, and there are so many.', 'I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told.', 'I mean, they’re absolutely diabolical. ""', 'What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.”', 'He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer.', 'Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”.']",0.07220490206195,"He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “",Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “,0.3621529340744018,"And if it helps there, then great.","He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.",2024-06-16 -Too much of a good thing? Spain's green energy can exceed demand,https://www.bbc.co.uk/news/articles/czkkgnp1d2xo,2024-06-16T23:06:49.211Z,"The patchwork plains of Castilla-La Mancha, in central Spain, were once known for their windmills. But now it is wind turbines, their modern-day equivalent, which are much more visible on the region’s skyline. The 28 vast turbines of the Sierra del Romeral windfarm, perched on hills not far from the historic city of Toledo, look out over this landscape. Operated by Spanish firm Iberdrola, they are part of a trend that has accelerated Spain’s renewable energy output over the past half-decade, making the country a major presence in the industry. Spain’s total wind generation capacity, its prime renewable source in recent years, has doubled since 2008. Solar energy capacity, meanwhile, has increased by a factor of eight over the same period. This makes Spain the EU member state with the second-largest renewable energy infrastructure, after Sweden in first place. Earlier this year, Spain's Socialist Workers' Party prime minister, Pedro Sánchez, described his country as ""a driving force of the energy transition on a global scale"". The boom began soon after the arrival of a new government under Mr Sánchez in 2018, with the removal of regulatory obstacles, and the introduction of subsidies for renewable installation. The pandemic further accelerated the trend on a domestic level. ""The impact of Covid was very positive for our sector,"" says José Donoso, chief executive of UNEF, the Spanish Photovoltaic Association, which represents the solar panel sector. ""People saved money, took time to think about what to do with it, and many of them decided that it was better invested on their roof than in their bank."" Meanwhile, the government introduced ambitious new targets, including covering 81% of Spain’s electricity needs with renewables by 2030. However, behind this success story, there are concerns within the electricity industry caused by an imbalance between supply and demand with, at times, a surplus of electricity. Even though the Spanish economy has bounced back strongly from the trauma of the Covid pandemic, and is growing faster than all of the bloc’s other big economies, electricity consumption has been dropping in recent years. Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. ""What we saw until 2005 was that when GDP increased, demand for electricity increased more than GDP,"" says Miguel de la Torre Rodríguez, head of system development at Red Eléctrica (REE), the company that operates Spain's national grid. More recently, he says, ""we've seen that demand has increased less than GDP. What we're seeing is a decoupling of energy intensity from the economy"". There are several reasons for the recent drop in demand. They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage. Also, energy efficiency has improved and become more commonplace. The increased usage of renewable energy has also contributed to the reduction in demand for electricity from the national grid. Mr Rodríguez says that during daylight hours, when solar energy output is particularly strong, the supply-demand balance can be pushed out of kilter, having an impact on prices. ""Since the power system always has to have an equilibrium – demand has to equal generation – that has meant there has been excess generation during those hours,"" he says. ""That has driven prices down, especially during certain hours, when the prices have been zero or even negative."" While such low prices are welcome for consumers, they are potentially a problem when it comes to attracting investment to the industry. ""This can make it more difficult for investors to increase their investment in new electricity based on renewable energies,"" says Sara Pizzinato, a renewable energy expert at Greenpeace Spain. ""That can be a bottleneck for the energy transition."" Concerns about Spain having an excess of electricity have led to discussion of the need to accelerate the ""electrification"" of the economy, which involves moving it away from fossil fuels. The Sánchez government has set a target of making 34% of the economy reliant on electricity by 2030. ""This process is going slowly, and we need to accelerate it,"" says UNEF’s José Donoso. ""Electricity is the cheapest and most competitive way to produce clean energy. ""We need facilities that use electricity in place of fossil fuels."" Shifting to a total reliance on electricity is seen as unrealistic, as some important sectors like chemicals and metals will find the transition difficult. However, Mr Donoso and others see plenty of scope for swifter electrification. For example, Spain is trailing many of its European neighbours when it comes to the installation of heat pumps in homes, and the use of electric cars, which only make up around 6% of vehicles on the road. Ms Pizzinato agrees that electrification is crucial, but says there are other ways of tackling the supply-demand quandary, including phasing out the use of nuclear plants more quickly, and increasing energy storage capability. She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night."" Sign up for our Future Earth newsletter to get exclusive insight on the latest climate and environment news from the BBC's Climate Editor Justin Rowlatt, delivered to your inbox every week. Outside the UK? Sign up to our international newsletter here. ",BBC,16/06/2024,"['The patchwork plains of Castilla-La Mancha, in central Spain, were once known for their windmills.', 'But now it is wind turbines, their modern-day equivalent, which are much more visible on the region’s skyline.', 'The 28 vast turbines of the Sierra del Romeral windfarm, perched on hills not far from the historic city of Toledo, look out over this landscape.', 'Operated by Spanish firm Iberdrola, they are part of a trend that has accelerated Spain’s renewable energy output over the past half-decade, making the country a major presence in the industry.', 'Spain’s total wind generation capacity, its prime renewable source in recent years, has doubled since 2008.', 'Solar energy capacity, meanwhile, has increased by a factor of eight over the same period.', 'This makes Spain the EU member state with the second-largest renewable energy infrastructure, after Sweden in first place.', 'Earlier this year, Spain\'s Socialist Workers\' Party prime minister, Pedro Sánchez, described his country as ""a driving force of the energy transition on a global scale"".', 'The boom began soon after the arrival of a new government under Mr Sánchez in 2018, with the removal of regulatory obstacles, and the introduction of subsidies for renewable installation.', 'The pandemic further accelerated the trend on a domestic level. ""', 'The impact of Covid was very positive for our sector,"" says José Donoso, chief executive of UNEF, the Spanish Photovoltaic Association, which represents the solar panel sector. ""', 'People saved money, took time to think about what to do with it, and many of them decided that it was better invested on their roof than in their bank.""', 'Meanwhile, the government introduced ambitious new targets, including covering 81% of Spain’s electricity needs with renewables by 2030.', 'However, behind this success story, there are concerns within the electricity industry caused by an imbalance between supply and demand with, at times, a surplus of electricity.', 'Even though the Spanish economy has bounced back strongly from the trauma of the Covid pandemic, and is growing faster than all of the bloc’s other big economies, electricity consumption has been dropping in recent years.', 'Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. ""', 'What we saw until 2005 was that when GDP increased, demand for electricity increased more than GDP,"" says Miguel de la Torre Rodríguez, head of system development at Red Eléctrica (REE), the company that operates Spain\'s national grid.', 'More recently, he says, ""we\'ve seen that demand has increased less than GDP.', 'What we\'re seeing is a decoupling of energy intensity from the economy"".', 'There are several reasons for the recent drop in demand.', ""They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage."", 'Also, energy efficiency has improved and become more commonplace.', 'The increased usage of renewable energy has also contributed to the reduction in demand for electricity from the national grid.', 'Mr Rodríguez says that during daylight hours, when solar energy output is particularly strong, the supply-demand balance can be pushed out of kilter, having an impact on prices. ""', 'Since the power system always has to have an equilibrium – demand has to equal generation – that has meant there has been excess generation during those hours,"" he says. ""', 'That has driven prices down, especially during certain hours, when the prices have been zero or even negative.""', 'While such low prices are welcome for consumers, they are potentially a problem when it comes to attracting investment to the industry. ""', 'This can make it more difficult for investors to increase their investment in new electricity based on renewable energies,"" says Sara Pizzinato, a renewable energy expert at Greenpeace Spain. ""', 'That can be a bottleneck for the energy transition.""', 'Concerns about Spain having an excess of electricity have led to discussion of the need to accelerate the ""electrification"" of the economy, which involves moving it away from fossil fuels.', 'The Sánchez government has set a target of making 34% of the economy reliant on electricity by 2030. ""', 'This process is going slowly, and we need to accelerate it,"" says UNEF’s José Donoso. ""', 'Electricity is the cheapest and most competitive way to produce clean energy. ""', 'We need facilities that use electricity in place of fossil fuels.""', 'Shifting to a total reliance on electricity is seen as unrealistic, as some important sectors like chemicals and metals will find the transition difficult.', 'However, Mr Donoso and others see plenty of scope for swifter electrification.', 'For example, Spain is trailing many of its European neighbours when it comes to the installation of heat pumps in homes, and the use of electric cars, which only make up around 6% of vehicles on the road.', 'Ms Pizzinato agrees that electrification is crucial, but says there are other ways of tackling the supply-demand quandary, including phasing out the use of nuclear plants more quickly, and increasing energy storage capability.', 'She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night.""', ""Sign up for our Future Earth newsletter to get exclusive insight on the latest climate and environment news from the BBC's Climate Editor Justin Rowlatt, delivered to your inbox every week."", 'Outside the UK?', 'Sign up to our international newsletter here.']",0.1764828363592918,"She says: ""We need to engage more people and more industries in demand-side management, to make sure the flexibility needed in the system is out there to make generation and demand match better during the day and during the night.""","They include the energy crisis triggered by Russia's invasion of Ukraine in 2022, which caused businesses and homes across Europe to cut back on usage.",0.339735209941864,"Solar energy capacity, meanwhile, has increased by a factor of eight over the same period.","Last year, demand for electricity was even below that seen in the pandemic year 2020, and the lowest since 2003. """,2024-06-16 -Wizz Air ranked worst airline for delays for third year,https://www.bbc.co.uk/news/articles/clddx2q7y7go,2024-06-13T13:41:22.892Z,"Wizz Air has been named the worst airline for UK flight delays for the third year in a row. The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency. Turkish Airlines recorded the second worst punctuality followed by Tui. The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes. Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"". The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights. Cancelled flights were not included. After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds. Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"". She added that research by Which? showed the airline was also falling short on the quality of customer service experienced by passengers. ""Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive' prices across a variety of popular routes,"" she added. Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports. Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year. Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector. A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers."" Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry. He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK. Punctuality has ""continued to exponentially improve"" this year, he said. ",BBC,13/06/2024,"['Wizz Air has been named the worst airline for UK flight delays for the third year in a row.', ""The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency."", 'Turkish Airlines recorded the second worst punctuality followed by Tui.', 'The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes.', 'Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"".', 'The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights.', 'Cancelled flights were not included.', 'After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.', 'Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"".', 'She added that research by Which?', 'showed the airline was also falling short on the quality of customer service experienced by passengers. ""', 'Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive\' prices across a variety of popular routes,"" she added.', ""Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports."", 'Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year.', 'Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector.', 'A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""', 'Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""', 'Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry.', ""He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK."", 'Punctuality has ""continued to exponentially improve"" this year, he said.']",-0.0568331509592643,"Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""","After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.",-0.0617415785789489,"Punctuality has ""continued to exponentially improve"" this year, he said.",Wizz Air has been named the worst airline for UK flight delays for the third year in a row.,2024-06-16 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-06-16 -What the price difference between ham and bacon tell us about inflation,https://edition.cnn.com/2024/06/17/business/ham-bacon-prices/index.html," - Updated - 3:03 PM EDT, Mon June 17, 2024 - ","Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot. - - Bacon is more expensive than it was a year ago, with prices up 6.9% from May 2023 to May of this year, according to inflation data from the Bureau of Labor Statistics. Pork chops were up too, by 4.6%. But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties. - - What gives? - - Econ buffs may remember that prices are set according to supply and demand. You’d expect any supply issues — like too many hogs, or too few — to cause prices of each of the items to move up or down, all in the same direction. - - The discrepancy, then, must be caused by differences on the demand side. And it is: Demand for domestic pork has grown in recent years outside of the US. But rising demand, plus the same or reduced supply, should push prices up, not down. - - So again, what gives? - - To understand you have to zoom out, looking at long-term retail pricing strategy and food price trends. - - Glynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board. - - From May 2019 to May 2024, according to government data shared by the Federal Reserve of St. Louis, prices of ham, pork chops and bacon all went up. - - But prices for ham actually went up higher than the prices of bacon and pork chops. That’s because US ham exports have been booming, particularly to Mexico. - - “In the middle of that five-year period, we had that Mexican demand boost,” Tonsor said. “The US market’s competing with Mexico for the same ham,” he added. “So the prices are going to be higher domestically.” - - So that year-over-year decrease you see in the grocery store is really just a drop from those heights. - - Another reason for high bacon prices: Strong demand, even when it’s expensive. - - “People are more willing to pay for bacon than they are maybe some other pork products,” said Christine McCracken, senior animal protein analyst at RaboBank. - - Retailers set prices strategically. So if they know that customers are more willing to spend more on bacon, they might keep those prices high or raise them to make up for decreases in other areas, where customers might spend less. - - Prices in the supermarket aren’t just tied to cost. They’re also determined according to the psychology of how people shop. - - For example: If you see a deal for eggs or pancake mix, you might go into the store for those items. Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal. - - It’s also possible that bacon prices are not quite as high as they seem because of discounts. - - “What you see more in bacon is kind of a high-low strategy,” said McCracken. “You’ll keep the price high on a normal day and then put it on super sale.” - - And even if bacon, pork chops and (taking the long view) ham are getting more expensive, they might still be a cheaper protein option than beef — not to mention restaurant meals. - - While grocery prices are flattening, menu prices continue to increase — frustrating customers and prompting some to dine out less often and spend less when they do. - - Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics. In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%. They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints. - - Chains from Burger King to KFC to Starbucks have started offering menu deals in an effort both to bring people back and restore their reputations as affordable food options. - - Still, buying bacon from the supermarket and making a sandwich at home is cheaper than buying a BLT or a bacon cheeseburger from a restaurant. Even if grocery-store bacon is pricier than it was this time last year.",CNN,17/06/2024,"['Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot.', 'Bacon is more expensive than it was a year ago, with prices up 6.9% from May 2023 to May of this year, according to inflation data from the Bureau of Labor Statistics.', 'Pork chops were up too, by 4.6%.', 'But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties.', 'What gives?', 'Econ buffs may remember that prices are set according to supply and demand.', 'You’d expect any supply issues —like too many hogs, or too few —to cause prices of each of the items to move up or down, all in the same direction.', 'The discrepancy, then, must be caused by differences on the demand side.', 'And it is: Demand for domestic pork has grown in recent years outside of the US.', 'But rising demand, plus the same or reduced supply, should push prices up, not down.', 'So again, what gives?', 'To understand you have to zoom out, looking at long-term retail pricing strategy and food price trends.', 'Glynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board.', 'From May 2019 to May 2024, according to government data shared by the Federal Reserve of St. Louis, prices of ham, pork chops and bacon all went up.', 'But prices for ham actually went uphigherthan the prices of bacon and pork chops.', 'That’s because US ham exports have been booming, particularly to Mexico.', '“In the middle of that five-year period, we had that Mexican demand boost,” Tonsor said. “', 'The US market’s competing with Mexico for the same ham,” he added. “', 'So the prices are going to be higher domestically.”', 'So that year-over-year decrease you see in the grocery store is really just a drop from those heights.', 'Another reason for high bacon prices: Strong demand, even when it’s expensive.', '“People are more willing to pay for bacon than they are maybe some other pork products,” said Christine McCracken, senior animal protein analyst at RaboBank.', 'Retailers set prices strategically.', 'So if they know that customers are more willing to spend more on bacon, they might keep those prices high or raise them to make up for decreases in other areas, where customers might spend less.', 'Prices in the supermarket aren’t just tied to cost.', 'They’re also determined according to the psychology of how people shop.', 'For example: If you see a deal for eggs or pancake mix, you might go into the store for those items.', 'Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal.', 'It’s also possible that bacon prices are not quite as high as they seem because of discounts.', '“What you see more in bacon is kind of a high-low strategy,” said McCracken. “', 'You’ll keep the price high on a normal day and then put it on super sale.”', 'And even if bacon, pork chops and (taking the long view) ham are getting more expensive, they might still be a cheaper protein option than beef — not to mention restaurant meals.', 'While grocery prices are flattening, menu prices continue to increase —frustrating customers and prompting some to dine out less often and spend less when they do.', 'Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics.', 'In that period, menu prices at full-service, or sit-down, restaurants rose 3.5%.', 'They jumped 4.5% at limited-service restaurants, which include fast food and fast casual joints.', 'Chains from Burger King to KFC to Starbucks have started offering menu deals in an effort both to bring people back and restore their reputations as affordable food options.', 'Still, buying bacon from the supermarket and making a sandwich at home is cheaper than buying a BLT or a bacon cheeseburger from a restaurant.', 'Even if grocery-store bacon is pricier than it was this time last year.']",0.0434690223643447,"Once inside, you may very well pick up a package of bacon as a treat — because you’ll be making breakfast at home, anyway, and you got a good price for most of the meal.","But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties.",0.6923250048248856,"Grocery prices rose 1% in the 12 months through May, according to the Bureau of Labor Statistics.",So that year-over-year decrease you see in the grocery store is really just a drop from those heights.,2024-06-16 -National Insurance calculator: What are NI and income tax and what do I pay?,https://www.bbc.co.uk/news/explainers-63635185,2022-11-15T17:40:23.000Z,"The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election. Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen. The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected. The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029. The party says it will scrap NI completely when it is ""affordable to do so"". The Tories had already said they will increase the tax-free personal allowance for pensioners. All other thresholds would remain frozen until 2028. The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT. They had already said they would not cut NI either, because ""the money simply isn't there"". The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028. The Liberal Democrat manifesto says the party's priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"". The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%. It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn. The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April. The government said that the two cuts were worth about £900 a year for a worker earning £35,000. For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200. Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions. The NI rate on income and profits above £50,270 remains at 2% for all workers. The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS. NI rates apply across the UK. You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year. It is not paid by people over the state pension age, even if they are working. Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life. The government records how many years of contributions you have made. Paying a lower rate of NI does not mean you contribute less. If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits. You can also make voluntary contributions to plug gaps in your record. Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds. These are the income levels at which people start paying NI or income tax, or have to pay higher rates. These used to rise every year in line with inflation. However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028. Higher-rate tax will continue to kick in for earnings above £50,270. Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates. It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans. According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers. In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off. But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off. Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year. Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits. The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270. The higher rate is 40%, and is paid on earnings between £50,271 and £125,140. Once you earn more than £100,000, you also start losing your tax-free personal allowance. You lose £1 of your personal allowance for every £2 that your income goes above £100,000. Anyone earning more than £125,140 a year no longer has any tax-free personal allowance. The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year. These apply in England, Wales and Northern Ireland. Some income tax rates are different in Scotland. In Scotland a new 45% band took effect in April. The top rate also rose from 47% to 48%. For most families, income tax is the single biggest tax they pay. But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes. For the poorest fifth of households, VAT is the biggest single tax paid. You can look at the amount of tax raised as a proportion of the size of the economy, or GDP. In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%. That puts the UK right in the middle of the G7 group of big economies. France, Italy and Germany tax more; Canada, Japan and the US tax less. However, overall taxation in the UK is high compared with historical rates. In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29. That would be the highest level in 80 years. ",BBC,15/11/2022,"['The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election.', 'Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen.', 'The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected.', 'The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029.', 'The party says it will scrap NI completely when it is ""affordable to do so"".', 'The Tories had already said they will increase the tax-free personal allowance for pensioners.', 'All other thresholds would remain frozen until 2028.', 'The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT.', 'They had already said they would not cut NI either, because ""the money simply isn\'t there"".', 'The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028.', 'The Liberal Democrat manifesto says the party\'s priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"".', 'The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%.', 'It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn.', 'The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April.', 'The government said that the two cuts were worth about £900 a year for a worker earning £35,000.', 'For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.', 'Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions.', 'The NI rate on income and profits above £50,270 remains at 2% for all workers.', 'The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS.', 'NI rates apply across the UK.', 'You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year.', 'It is not paid by people over the state pension age, even if they are working.', 'Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life.', 'The government records how many years of contributions you have made.', 'Paying a lower rate of NI does not mean you contribute less.', 'If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits.', 'You can also make voluntary contributions to plug gaps in your record.', 'Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds.', 'These are the income levels at which people start paying NI or income tax, or have to pay higher rates.', 'These used to rise every year in line with inflation.', 'However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028.', 'Higher-rate tax will continue to kick in for earnings above £50,270.', 'Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates.', ""It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans."", 'According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers.', 'In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off.', 'But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.', 'Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year.', 'Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits.', 'The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270.', 'The higher rate is 40%, and is paid on earnings between £50,271 and £125,140.', 'Once you earn more than £100,000, you also start losing your tax-free personal allowance.', 'You lose £1 of your personal allowance for every £2 that your income goes above £100,000.', 'Anyone earning more than £125,140 a year no longer has any tax-free personal allowance.', 'The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year.', 'These apply in England, Wales and Northern Ireland.', 'Some income tax rates are different in Scotland.', 'In Scotland a new 45% band took effect in April.', 'The top rate also rose from 47% to 48%.', 'For most families, income tax is the single biggest tax they pay.', 'But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes.', 'For the poorest fifth of households, VAT is the biggest single tax paid.', 'You can look at the amount of tax raised as a proportion of the size of the economy, or GDP.', 'In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%.', 'That puts the UK right in the middle of the G7 group of big economies.', 'France, Italy and Germany tax more; Canada, Japan and the US tax less.', 'However, overall taxation in the UK is high compared with historical rates.', 'In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29.', 'That would be the highest level in 80 years.']",0.161418970260656,"But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.","For the poorest fifth of households, VAT is the biggest single tax paid.",0.0086431754262823,The top rate also rose from 47% to 48%.,"For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.",2024-06-16 -Elon Musk’s multi-billion paycheck just got approved by stockholders. That could be a fraction of what’s coming,https://edition.cnn.com/2024/06/17/business/elon-musk-next-pay-package-tesla/index.html," - Updated - 1:40 PM EDT, Mon June 17, 2024 - ","Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. The question now is, how much will he get going forward? - - The package, made up of 303 million stock options worth more than $47 billion based on the current value of Tesla shares, was thrown out in January by a judge in Delaware, where Tesla has been incorporated. Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness. - - It’s not clear if even with the new shareholder vote that Musk will have the options returned to him, according to legal experts. - - “It’s not an automatic fix. It doesn’t override the decision,” Samantha Crispin, partner and chair of the corporate department at global law firm Baker Botts, told CNN. “The chancellor found a number of defects in the process.” - - But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. So even if the courts in Delaware continue to rule against the pay package, the Tesla board could grant a new stock option award to Musk, although there would be negative tax implications for doing so rather than simply voting to restore the earlier options. - - Musk, who is not paid any kind of cash salary or bonus at Tesla, has been essentially working for free for more than a year, since Tesla hit the financial targets that awarded him the last of the options available in the 2018 package. - - It is clear that Musk believes he needs to receive additional stock options. Earlier this year he said he would not want to grow Tesla to become a leader in artificial intelligence and robotics — areas where he promised growth — without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns. Although, if the 303 million stock options just re-approved by shareholders are restored, and if he exercises those options, his stake would top 20%. - - “I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned,” Musk tweeted in January shortly before McCormick’s ruling. “Unless that is the case, I would prefer to build products outside of Tesla.” But Musk has suggested that the question of a new pay package would likely be delayed until questions about the 2018 package are finally settled. - - Musk was not asked about a new pay package at Thursday’s annual shareholder’s meeting, which observers might consider an absolute love fest as shareholders heaped praise on the billionaire tech mogul. - - But the Tesla board made clear it believes some form of significant compensation is crucial  to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available. - - “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. “Nor does he face any shortage of ideas and other places he can make an incredible difference in the world. We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners.” - - Other Musk fans in the investment community also want to see him get additional shares of Tesla, even if that means their own holdings are diluted. They see Musk as the driving force behind Tesla’s success, and crucial for its success into the future. Some are particularly eager to see him execute his plans for self-driving cars and robotaxis that they believe will change the economics of personal transportation even more than Tesla has changed the auto industry by spurring widespread use of EVs. - - “The idea of him acquiring more shares doesn’t scare me,” said Tasha Keeney, director of investment analysis at ARK Invest, which has the most bullish forecast for Tesla. “I think look at this as an extreme pivotal moment. That’s why it’s important to have Elon at Tesla and engaged and incentivized appropriately.” - - Musk told shareholders Thursday he’s not planning on going anywhere, and said he thinks Tesla could succeed even without him, although he described himself as an “accelerant” to that success. - - It’s not clear how much any additional holdings would be needed to provide Musk with financial incentives to focus on Tesla, and take him to unprecedented levels of wealth. If the company’s stock does as well as Musk and his fans predict, his current holdings would appreciate in value so much that his 2018 $47 billion pay package will look like an afterthought. - - Ark Invest has a five-year target price for Tesla shares at $2,600 a share. That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029. - - Even if Musk doesn’t get the options from 2018 restored, his current holdings of 411 million shares, which are today worth a mere $73 billion, would be worth more than $1 trillion if Tesla shares hit that $2,600 target. That likely would make Musk the world’s first trillionaire, with his net worth rising more than the current net worths of the next five people on Bloomberg’s Billionaires list — Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page and Bill Gates — combined. And that doesn’t even count his holdings in other companies such as SpaceX. - - Not everyone on that list got there through packages of stock options. For example, Bezos, the founder of Amazon, and Zuckerberg, who co-founded Facebook, both took large stakes in their companies as founders, but neither has received stock grants or options since those companies had initial public offerings in 1997 and 2012, respectively. - - In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”",CNN,17/06/2024,"['Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years.', 'The question now is, how much will he get going forward?', 'The package, made up of 303 million stock options worth more than $47 billion based on the current value of Tesla shares, was thrown out in January by a judge in Delaware, where Tesla has been incorporated.', 'Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness.', 'It’s not clear if even with the new shareholder vote that Musk will have the options returned to him, according to legal experts.', '“It’s not an automatic fix.', 'It doesn’t override the decision,” Samantha Crispin, partner and chair of the corporate department at global law firm Baker Botts, told CNN. “', 'The chancellor found a number of defects in the process.”', 'But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision.', 'So even if the courts in Delaware continue to rule against the pay package, the Tesla board could grant a new stock option award to Musk, although there would be negative tax implications for doing so rather than simply voting to restore the earlier options.', 'Musk, who is not paid any kind of cash salary or bonus at Tesla, has been essentially working for free for more than a year, since Tesla hit the financial targets that awarded him the last of the options available in the 2018 package.', 'It is clear that Musk believes he needs to receive additional stock options.', 'Earlier this year he said he would not want to grow Tesla to become a leader in artificial intelligence and robotics — areas where he promised growth — without a compensation plan that wouldgive him ownership of around 25% of the company’s stock.', 'That would be about double the roughly 13% stake he currently owns.', 'Although, if the 303 million stock options just re-approved by shareholders are restored, and if he exercises those options, his stake would top 20%.', '“I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control.', 'Enough to be influential, but not so much that I can’t be overturned,” Musk tweeted in January shortly before McCormick’s ruling. “', 'Unless that is the case, I would prefer to build products outside of Tesla.”', 'But Musk has suggested that the question of a new pay package would likely be delayed until questions about the 2018 package are finally settled.', 'Musk was not asked about a new pay package at Thursday’s annual shareholder’s meeting, which observers might consider an absolute love fest as shareholders heaped praise on the billionaire tech mogul.', 'But the Tesla board made clear it believes some form of significant compensation is crucial to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available.', '“What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. “', 'Nor does he face any shortage of ideas and other places he can make an incredible difference in the world.', 'We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners.”', 'Other Musk fans in the investment community also want to see him get additional shares of Tesla, even if that means their own holdings are diluted.', 'They see Musk as the driving force behind Tesla’s success, and crucial for its success into the future.', 'Some are particularly eager to see him execute his plans for self-driving cars and robotaxis that they believe will change the economics of personal transportation even more than Tesla has changed the auto industry by spurring widespread use of EVs.', '“The idea of him acquiring more shares doesn’t scare me,” said Tasha Keeney, director of investment analysis at ARK Invest, which has the most bullish forecast for Tesla. “', 'I think look at this as an extreme pivotal moment.', 'That’s why it’s important to have Elon at Tesla and engaged and incentivized appropriately.”', 'Musk told shareholders Thursday he’s not planning on going anywhere, and said he thinks Tesla could succeed even without him, although he described himself as an “accelerant” to that success.', 'It’s not clear how much any additional holdings would be needed to provide Musk with financial incentives to focus on Tesla, and take him to unprecedented levels of wealth.', 'If the company’s stock does as well as Musk and his fans predict, his current holdings would appreciate in value so much that his 2018 $47 billion pay package will look like an afterthought.', 'Ark Invest has a five-year target price for Tesla shares at $2,600 a share.', 'That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029.', 'Even if Musk doesn’t get the options from 2018 restored, his current holdings of 411 million shares, which are today worth a mere $73 billion, would be worth more than $1 trillion if Tesla shares hit that $2,600 target.', 'That likely would make Musk the world’s first trillionaire, with his net worth rising more than the current net worths of the next five people on Bloomberg’s Billionaires list — Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page and Bill Gates — combined.', 'And that doesn’t even count his holdings in other companies such as SpaceX. Not everyone on that list got there through packages of stock options.', 'For example, Bezos, the founder of Amazon, and Zuckerberg, who co-founded Facebook, both took large stakes in their companies as founders, but neither has received stock grants or options since those companies had initial public offerings in 1997 and 2012, respectively.', 'In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”']",0.3231768302865287,"But the Tesla board made clear it believes some form of significant compensation is crucial to keeping him focused on Tesla and the challenges ahead, including his promises about making self-driving cars and humanoid robots widely available.","In her decision, McCormick rejected the argument that Musk would be uncompensated if the package was thrown out, writing, “Musk’s preexisting equity stake provided him tens of billions of dollars for his efforts.”",0.668275777498881,"That would be a 1,300% gain from its current value, something that would lift its total market cap to about $8 trillion, or more than the current values of Microsoft and Apple, combined, by 2029.",Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness.,2024-06-16 -Surgeon general demands warning label on social media apps,https://edition.cnn.com/2024/06/17/media/surgeon-general-social-media-apps-warning-label/index.html," - Updated - 2:47 PM EDT, Mon June 17, 2024 - ","Surgeon General Dr. Vivek Murthy said the threat social media poses to children requires urgent action, and he demanded Congress to put a label on the apps as it does with cigarettes and alcohol. - - “The mental health crisis among young people is an emergency — and social media has emerged as an important contributor,” Murthy said in an op-ed in the New York Times Monday. - - Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression. Teens spend nearly five hours a day on social media apps, according to a Gallup poll. - - In an interview with CNN’s Meg Tirrell, Murthy said that the prevalence of social media use among kids is over 95%, “nearly universal.” - - But Murthy cannot act unilaterally to put a warning label on apps — that requirement would have to come from Congress, with whom Murthy pleaded to pass a bill. - - “I put forward this call for a warning because I think it’s essential that parents know what we now know, which is that there are significant harms associated with social media use,” Murthy told CNN. - - Similar labels on tobacco, first instituted in 1965, led to a steady decline in cigarette smoking in America over the past several decades. - - Congress has long chastised social media companies, claiming they pose harm to children. CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment. But Congress has taken little action to curb children’s social media usage. - - Murthy argued that it’s time for Congress to get serious about curbing children’s use of social media. - - “Until that point in time, when we have reliable evidence that tells us social media is safe and changes are being made and will be made in the future… parents deserve to be warned. That’s where the label comes in,” Murthy told CNN, adding that he hopes Congress will introduce legislation to add a surgeon general’s warning label on social media as soon as possible. “I think this is an urgent issue.” - - Murthy has warned about social media’s harm to children’s welfare for years. But Monday’s declaration of an emergency and his appeal to Congress represent his most urgent call to action on the issue so far. - - In May 2023, Murthy issued an advisory that said there’s not enough evidence to determine whether social media is safe enough for children and adolescents’ mental health, saying social media use presents “a profound risk of harm” for kids. - - He suggested parents restrict their kids’ social media use, saying 13 is too young to join social apps. But such advisories are designed to call attention to urgent public health – they don’t require action. - - “We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “For too long, we have placed the entire burden of managing social media on the shoulders of parents and kids, despite the fact that these platforms are designed by some of the most talented engineers and designers in the world to maximize the amount of time that our kids spend on them.” - - On CNN’s “Chasing Life” podcast with Dr. Sanjay Gupta in June 2023, Murthy outlined some steps parents can take to rein in their children’s social media usage, including partnering with other parents to make sure kids lack the “I’m the only one without social media” excuse. - - A warning label, if Congress passes legislation requiring one, would be insufficient to fix the problem, Murthy acknowledged. - - He suggested schools become phone-free environments for children, as should dinner time and other family events. And Murthy urged parents to restrict children’s use of social media until they graduate from middle school. - - Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app. The bills have been largely bipartisan. - - Florida’s Republican Gov. Ron DeSantis in March signed a bill that would prohibit children under 14 from obtaining their own social media accounts, and children under 16 would need parental consent to have accounts. New York Democratic Gov. Kathy Hochul said she would sign legislation passed by the state legislature that would ban social media from using algorithms in children’s feeds, and the bill would also prevent tech companies from sharing information of children under 18. - - “This is much easier said than done, which is why parents should work together with other families to establish shared rules, so no parents have to struggle alone or feel guilty when their teens say they are the only one who has to endure limits,” Murthy wrote in the New York Times. - - On Monday, Murthy confirmed to CNN that alcohol and cigarettes are currently the only two products with surgeon general warning labels but that the overall health risk of social media is “just as profound.” - - “We’re talking about the mental health and wellbeing of kids,” he said.",CNN,17/06/2024,"['Surgeon General Dr. Vivek Murthy said the threat social media poses to children requires urgent action, and he demanded Congress to put a label on the apps as it does with cigarettes and alcohol.', '“The mental health crisis among young people is an emergency — and social media has emerged as an important contributor,” Murthy said in an op-ed in the New York Times Monday.', 'Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression.', 'Teens spend nearly five hours a day on social media apps, according to a Gallup poll.', 'In an interview with CNN’s Meg Tirrell, Murthy said that the prevalence of social media use among kids is over 95%, “nearly universal.”', 'But Murthy cannot act unilaterally to put a warning label on apps — that requirement would have to come from Congress, with whom Murthy pleaded to pass a bill.', '“I put forward this call for a warning because I think it’s essential that parents know what we now know, which is that there are significant harms associated with social media use,” Murthy told CNN.', 'Similar labels on tobacco, first instituted in 1965, led to a steady decline in cigarette smoking in America over the past several decades.', 'Congress has long chastised social media companies, claiming they pose harm to children.', 'CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment.', 'But Congress has taken little action to curb children’s social media usage.', 'Murthy argued that it’s time for Congress to get serious about curbing children’s use of social media.', '“Until that point in time, when we have reliable evidence that tells us social media is safe and changes are being made and will be made in the future… parents deserve to be warned.', 'That’s where the label comes in,” Murthy told CNN, adding that he hopes Congress will introduce legislation to add a surgeon general’s warning label on social media as soon as possible. “', 'I think this is an urgent issue.”', 'Murthy has warned about social media’s harm to children’s welfare for years.', 'But Monday’s declaration of an emergency and his appeal to Congress represent his most urgent call to action on the issue so far.', 'In May 2023, Murthy issued an advisory that said there’s not enough evidence to determine whether social media is safe enough for children and adolescents’ mental health, saying social media use presents “a profound risk of harm” for kids.', 'He suggested parents restrict their kids’ social media use, saying 13 is too young to join social apps.', 'But such advisories are designed to call attention to urgent public health – they don’t require action.', '“We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “', 'For too long, we have placed the entire burden of managing social media on the shoulders of parents and kids, despite the fact that these platforms are designed by some of the most talented engineers and designers in the world to maximize the amount of time that our kids spend on them.”', 'On CNN’s “Chasing Life” podcast with Dr. Sanjay Gupta in June 2023, Murthy outlined some steps parents can take to rein in their children’s social media usage, including partnering with other parents to make sure kids lack the “I’m the only one without social media” excuse.', 'A warning label, if Congress passes legislation requiring one, would be insufficient to fix the problem, Murthy acknowledged.', 'He suggested schools become phone-free environments for children, as should dinner time and other family events.', 'And Murthy urged parents to restrict children’s use of social media until they graduate from middle school.', 'Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app.', 'The bills have been largely bipartisan.', 'Florida’s Republican Gov. Ron DeSantis in March signed a bill that would prohibit children under 14 from obtaining their own social media accounts, and children under 16 would need parental consent to have accounts.', 'New York Democratic Gov. Kathy Hochul said she would sign legislation passed by the state legislature that would ban social media from using algorithms in children’s feeds, and the bill would also prevent tech companies from sharing information of children under 18.', '“This is much easier said than done, which is why parents should work together with other families to establish shared rules, so no parents have to struggle alone or feel guilty when their teens say they are the only one who has to endure limits,” Murthy wrote in the New York Times.', 'On Monday, Murthy confirmed to CNN that alcohol and cigarettes are currently the only two products with surgeon general warning labels but that the overall health risk of social media is “just as profound.”', '“We’re talking about the mental health and wellbeing of kids,” he said.']",-0.2170621141236108,"Several states have worked to pass legislation to increase the age at which children can begin to use social apps or some of their more time-sucking features, such as algorithms that push people to engage with more content within the app.","CEOs of tech companies have been grilled routinely on Capitol Hill, most notably Meta CEO Mark Zuckerberg — who publicly apologized to families whose children killed themselves because of online bullying and harassment.",-0.4068378295217241,"Murthy cited several studies, including a 2019 American Medical Association study published in JAMA that showed teens who spend three hours a day on social media double their risk of depression.","“We’re in the middle of a youth mental health crisis, and I’m concerned that social media is contributing to the harm that kids are experiencing,” Murthy told CNN in May 2023. “",2024-06-16 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-06-16 -Wells Fargo fires workers over fake keyboard activity,https://www.bbc.co.uk/news/articles/cjll01220yeo,2024-06-13T19:46:45.871Z,"US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not. It is not yet clear how the issue was discovered or whether it was specifically related to people working from home. The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"". New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years. A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour."" In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time. Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic. Such services can track keystrokes and eye movements, take screenshots and log which websites are visited. But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available. According to Amazon, where they can be found for less than $10, thousands have been sold in the last month. Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected. The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims. Many of them had worked for Wells Fargo for less than five years. Many firms, especially in the financial industry, are pushing staff to return to the office. Remote work has remained popular since the pandemic but numbers have been drifting lower. In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago. As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers. ",BBC,13/06/2024,"['US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.', 'It is not yet clear how the issue was discovered or whether it was specifically related to people working from home.', 'The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"".', 'New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years.', 'A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""', 'In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time.', 'Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic.', 'Such services can track keystrokes and eye movements, take screenshots and log which websites are visited.', 'But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available.', 'According to Amazon, where they can be found for less than $10, thousands have been sold in the last month.', 'Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected.', 'The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims.', 'Many of them had worked for Wells Fargo for less than five years.', 'Many firms, especially in the financial industry, are pushing staff to return to the office.', 'Remote work has remained popular since the pandemic but numbers have been drifting lower.', 'In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago.', 'As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers.']",0.1071104623898091,"A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""",US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.,-0.9963567852973938,,Remote work has remained popular since the pandemic but numbers have been drifting lower.,2024-06-16 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-06-16 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-06-16 -Steps you can take now to avoid college sticker shock,https://edition.cnn.com/2024/06/17/success/how-to-find-good-affordable-colleges/index.html," - Published - 6:00 AM EDT, Mon June 17, 2024 - ","Long before you take your high schooler on college campus tours, consider this: Shopping for college shouldn’t be any different than shopping for a home. When you want to buy a home, you come up with a range of how much you can afford and get pre-qualified for a mortgage. Then you look in neighborhoods that offer homes that meet your family’s needs and fall within your price range. - - “Adopt a mindset that we’re buying college like we’re buying a house,” said Beth Walker, author of “Buying College Better” and “Never Pay Retail for College.” - - As a financial adviser and certified college planning specialist, Walker tries to help families avoid a situation that many find themselves in at the 11th hour: Their child applies — and gets into — schools they cannot afford because the schools won’t give them enough aid. And then they just … try to make it work, no matter how much debt is involved for the parents or the student. - - Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation. And second, she recommends assessing how a child’s talents and interests pare with majors and careers they might want to pursue. Doing both those things can help you target the right colleges to apply to. - - Mike McKinnon, executive director of the National Institute of Certified College Planners, defines the perfect college as one “where a student can go be happy, safe and successful, graduate in four years or less with a marketable degree and little or no debt.” - - In helping families align parents’ affordability constraints with their student’s academic and social needs, he cautions them not to automatically assume the Ivys or other high-prestige schools will be best simply because of their status. And he stresses what success in life looks like after college and notes that an Ivy League degree isn’t the only path to achieving it, especially if your child won’t get much aid to attend. - - In fact, said Todd Fothergill, founder and CEO of Strategies for College, a lot of brand-name schools don’t even offer merit-based aid, only need-based. So if you’re not rich, but you make too much to qualify for need-based aid, you could find yourself having to cover the entire cost of tuition, room and board every year, which is pushing $90,000 at some US colleges. - - Fothergill created a free calculator called CostHero that lets parents assess what financial resources they will have available to pay for a child’s college education. It then provides a range of affordability: At the low end is the number representing what they can pay if they don’t take on debt. And at the high end is the number they can pay if they also take out an unsubsidized federal Parent Loan for Undergraduate Students (PLUS). - - “If you’re not in a position to write a check for $90,000 a year, put up guardrails for yourself so you don’t blow up your retirement,” he said. - - The calculator inputs let you set the amount of resources you’re willing to use to pay for college from your income and savings, your child’s earnings from summer jobs, any family gifts, and any federal Stafford loans your child may take. It also factors in if you qualify for the federal American Opportunity Tax Credit. That credit, for qualified educational expenses, will reduce your tax bill or increase any refund you have coming. - - The calculator also gives you a debt-to-income score like the kind a mortgage lender might use to assess whether you’re a good credit risk. Ideally, he said, you don’t want your housing costs to exceed 36% of your gross income and your total debt — including debt from housing, cars, credit cards and any parental education loans — to exceed 43%. - - If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said. - - “If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.  For example, if one knows that the range of affordability is between $30,000 [a year] with no parent debt and $50,000 with parent debt, then any college that comes in with a net cost in that range is, by definition, affordable,” Fothergill said. - - Net cost refers to the true cost of attendance after figuring out how much aid your child may get (e.g., grants and scholarships). - - Generally speaking, the biggest tuition discounts go to the most academically accomplished students in an incoming class. “The student needs to be in the top 25% of those admitted,” Walker said. - - Getting into that top 25% cohort is based on SAT or ACT scores, and having a high, unweighted GPA based on a rigorous high school curriculum. The curriculum’s academic rigor can be further bolstered by taking AP courses. - - Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid. Otherwise, you‘ll spend money to apply to guidance-counselor-recommended “safety” schools or “reach” schools with no sense if those places are affordable to you should your child get in. - - Using reported data from admissions officers about their key criteria in admitting an incoming class and based on what more than 1,000 schools report about the qualifications they used to grant aid, Fothergill created another tool called ListHero. It gives students a score that helps gauge how competitive their profile is at a given school, relative to others admitted, and by extension their eligibility for tuition discounts. Right now the tool is only available to college planning professionals for a fee. But Fothergill plans to create a free mini-version for consumers to use. - - For parents doing their own research on test scores, GPA requirements, costs and aid, he recommends checking the Department of Education College Scorecard, the site CollegeData.com and the College Board. - - While your children are in high school they can take other steps to reduce the total cost of their education. - - One way is by doing well on the PSAT to qualify to compete for a National Merit Scholarship. - - Another is to take AP courses. If their high school doesn’t offer them, there is a program called Freshman Year for Free offered by the Modern States Education Alliance. It provides free AP placement courses and pays the fee for students to take the AP tests or college-level preparation (CLEP) tests administered through the College Board. - - Getting the minimum AP scores a college requires to earn a college credit will lower how much you ultimately have to spend on tuition. - - A third option is to see if your state has a program that offers a year of free in-state community college, the credits from which can be transferred to a state university from which your child could earn their degree. Or, if you plan to go to any other college, make sure the school will accept the credits from a community college course you plan to take. - - No matter what steps you take, starting the research and budgeting process early can save everyone a lot of stress, debt and potential heartache in the end. Said Walker: “We have to be a lot more intentional about this purchase.”",CNN,17/06/2024,"['Long before you take your high schooler on college campus tours, consider this: Shopping for college shouldn’t be any different than shopping for a home.', 'When you want to buy a home, you come up with a range of how much you can afford and get pre-qualified for a mortgage.', 'Then you look in neighborhoods that offer homes that meet your family’s needs and fall within your price range.', '“Adopt a mindset that we’re buying college like we’re buying a house,” said Beth Walker, author of “Buying College Better” and “Never Pay Retail for College.”', 'As a financial adviser and certifiedcollege planning specialist, Walker tries to help families avoid a situation that many find themselves in at the 11th hour: Their child applies — and gets into — schools they cannot afford because the schools won’t give them enough aid.', 'And then they just … try to make it work, no matter how much debt is involved for the parents or the student.', 'Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation.', 'And second, she recommends assessing how a child’s talents and interests pare with majors and careers they might want to pursue.', 'Doing both those things can help you target the right colleges to apply to.', 'Mike McKinnon, executive director of the National Institute of Certified College Planners, defines the perfect college as one “where a student can go be happy, safe and successful, graduate in four years or less with a marketable degree and little or no debt.”', 'In helping families align parents’ affordability constraints with their student’s academic and social needs, he cautions them not to automatically assume the Ivys or other high-prestige schools will be best simply because of their status.', 'And he stresses what success in life looks like after college and notes that an Ivy League degree isn’t the only path to achieving it, especially if your child won’t get much aid to attend.', 'In fact, said Todd Fothergill, founder and CEO of Strategies for College, a lot of brand-name schools don’t even offer merit-based aid, only need-based.', 'So if you’re not rich, but you make too much to qualify for need-based aid, you could find yourself having to cover the entire cost of tuition, room and board every year, which is pushing $90,000 at some US colleges.', 'Fothergill created a free calculator called CostHero that lets parents assess what financial resources they will have available to pay for a child’s college education.', 'It then provides a range of affordability: At the low end is the number representing what they can pay if they don’t take on debt.', 'And at the high end is the number they can pay if they also take out an unsubsidized federal Parent Loan for Undergraduate Students (PLUS).', '“If you’re not in a position to write a check for $90,000 a year, put up guardrails for yourself so you don’t blow up your retirement,” he said.', 'The calculator inputs let you set the amount of resources you’re willing to use to pay for college from your income and savings, your child’s earnings from summer jobs, any family gifts, and any federal Stafford loans your child may take.', 'It also factors in if you qualify for the federal American Opportunity Tax Credit.', 'That credit, for qualified educational expenses, will reduce your tax bill or increase any refund you have coming.', 'The calculator also gives you a debt-to-income score like the kind a mortgage lender might use to assess whether you’re a good credit risk.', 'Ideally, he said, you don’t want your housing costs to exceed 36% of your gross income and your total debt — including debt from housing, cars, credit cards and any parental education loans — to exceed 43%.', 'If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said.', '“If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.', 'For example, if one knows that the range of affordability is between $30,000 [a year] with no parent debt and $50,000 with parent debt, then any college that comes in with a net cost in that range is, by definition, affordable,” Fothergill said.', 'Net cost refers to the true cost of attendance after figuring out how much aid your child may get (e.g., grants and scholarships).', 'Generally speaking, the biggest tuition discounts go to the most academically accomplished students in an incoming class. “', 'The student needs to be in the top 25% of those admitted,” Walker said.', 'Getting into that top 25% cohort is based on SAT or ACT scores, and having a high, unweighted GPA based on a rigorous high school curriculum.', 'The curriculum’s academic rigor can be further bolstered by taking AP courses.', 'Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid.', 'Otherwise, you‘ll spend money to apply to guidance-counselor-recommended “safety” schools or “reach” schools with no sense if those places are affordable to you should your child get in.', 'Using reported data from admissions officers about their key criteria in admitting an incoming class and based on what more than 1,000 schools report about the qualifications they used to grant aid, Fothergill created another tool called ListHero.', 'It gives students a score that helps gaugehow competitive their profile isat a given school, relative to others admitted, and by extension their eligibility for tuition discounts.', 'Right now the tool is only available to college planning professionals for a fee.', 'But Fothergill plans to create a free mini-version for consumers to use.', 'For parents doing their own research on test scores, GPA requirements, costs and aid, he recommends checking the Department of Education College Scorecard, the site CollegeData.com and the College Board.', 'While your children are in high school they can take other steps to reduce the total cost of their education.', 'One way is by doing well on the PSAT to qualify to compete for a National Merit Scholarship.', 'Another is to take AP courses.', 'If their high school doesn’t offer them, there is a program called Freshman Year for Free offered by the Modern States Education Alliance.', 'It provides free AP placement courses and pays the fee for students to take the AP tests or college-level preparation (CLEP) tests administered through the College Board.', 'Getting the minimum AP scores a college requires to earn a college credit will lower how much you ultimately have to spend on tuition.', 'A third option is to see if your state has a program that offers a year of free in-state community college, the credits from which can be transferred to a state university from which your child could earn their degree.', 'Or, if you plan to go to any other college, make sure the school will accept the credits from a community college course you plan to take.', 'No matter what steps you take, starting the research and budgeting process early can save everyone a lot of stress, debt and potential heartache in the end.', 'Said Walker: “We have to be a lot more intentional about this purchase.”']",0.2311100222180991,"Since your child is more likely to make the top quartile at some schools than others, Fothergill and Walker both recommend your child focus on applying only to those schools in which they stand the best chances of being in that top group to maximize their chances for merit-based aid.","Instead, she advises families to start as early as 9th or 10th grade in figuring out what is affordable for them as a family — so parents don’t sacrifice their own financial welfare and the future college student doesn’t drown in debt upon graduation.",0.7111026823520661,"“If folks have a way to determine the range of affordability prior to the onset of the college search, the outcomes are a lot better.","If your DTI ratio is close to or higher than 43% that is a sign you could get yourself into trouble if you end up having any financial problems while your child is in college, Fothergill said.",2024-06-16 -Problematic titanium was found in Boeing and Airbus jets. The FAA is investigating how it got there,https://edition.cnn.com/2024/06/14/business/faa-probe-counterfeit-titanium-boeing-airbus/index.html," - Updated - 11:18 AM EDT, Fri June 14, 2024 - ","Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. - - The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets. The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report. - - The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. - - “To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely.” - - Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain. - - “When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.” - - Airbus said it is aware of the situation. - - “Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “They show that the A220’s airworthiness remains intact.”  - - The FAA said it trying to determine the safety implications to planes that were made using the parts. It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220. - - “Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.” - - Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally. - - The most serious and high profile problems involve Boeing,  which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet. More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side. - - Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.",CNN,14/06/2024,"['Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets.', 'Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.', 'The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets.', 'The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report.', 'The FAA and Boeing confirmed that they are investigating the matter.', 'Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used.', '“To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely.”', 'Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain.', '“When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “', 'More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.”', 'Airbus said it is aware of the situation.', '“Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “', 'They show that the A220’s airworthiness remains intact.”', 'The FAA said it trying to determine the safety implications to planes that were made using the parts.', 'It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220.', '“Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “', 'Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.”', 'Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.', 'The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.', 'More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side.', 'Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.']",-0.0347575921606773,"Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.","The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.",-0.4172341312680925,Our analysis shows the in-service fleet can continue to fly safely.”,"Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.",2024-06-16 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-06-16 -Hyundai: India’s biggest IPO could come from South Korean car manufacturer,https://edition.cnn.com/2024/06/17/cars/india-hyundai-ipo-south-korea-intl-hnk/index.html," - Published - 12:39 AM EDT, Mon June 17, 2024 - ","Hyundai Motor’s India unit sought regulatory approval on Saturday for a stock market listing in Mumbai, which could be the nation’s biggest and will see the South Korean parent sell a stake of up to 17.5% in the company. - - The initial public offering (IPO) will make it the country’s first car maker to go public in two decades since Maruti Suzuki in 2003, and would come just as Indian stock markets are trading near record highs. - - Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade. The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. - - The Hyundai draft prospectus filed gave no details of the pricing of the IPO or the company’s valuation, but sources have said Hyundai aims to raise around $2.5 to $3 billion at a valuation of up to $30 billion. - - Hyundai, India’s second-biggest car maker behind Maruti Suzuki, will not issue new shares in the IPO, which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called “offer for sale” route. - - The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors and other rivals as it could make future fundraising easier, without the need to depend on its Korean parent. - - Hyundai expects the listing of the equity shares in India “will enhance our visibility and brand image,” and “provide liquidity and a public market” for the shares, the company said in the draft prospectus filed on Saturday. - - It did not provide a timeline for the listing, but typically India’s markets regulator, the Securities and Exchange Board of India, takes three to six months to approve, reject or seek more information on IPOs. - - The company said it plans to focus on “premiumisation” — selling more expensive cars, as well as increasing its EV market share and adding charging stations, where it lags behind Tata Motors. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. - - Indian Prime Minister Narendra Modi sees the automotive industry as a cornerstone to boosting growth in the world’s fifth-largest economy. His government has built hundreds of kilometers of new roads and is incentivising car makers to increase local manufacturing, especially of electric vehicles. - - Hyundai entered India 28 years ago and has won over buyers with its affordable cars such as Santro and sports-utility vehicle Creta. The company has plans to launch new electric vehicles, establish charging stations and a battery pack assembly unit. - - The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. The sources have said the final percentage could be lower. - - With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. - - Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period. - - Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.",CNN,17/06/2024,"['Hyundai Motor’s India unit sought regulatory approval on Saturday for a stock market listing in Mumbai, which could be thenation’s biggestand will see the South Korean parent sell a stake of up to 17.5% in the company.', 'The initial public offering (IPO) will make it the country’s first car maker to go public in two decades since Maruti Suzuki in 2003, and would come just as Indian stock markets are trading near record highs.', 'Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade.', 'The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally.', 'The Hyundai draft prospectus filed gave no details of the pricing of the IPO or the company’s valuation, but sources have said Hyundai aims to raise around $2.5 to $3 billion at a valuation of up to $30 billion.', 'Hyundai, India’s second-biggest car maker behind Maruti Suzuki, will not issue new shares in the IPO, which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called “offer for sale” route.', 'The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors andother rivalsas it could make future fundraising easier, without the need to depend on its Korean parent.', 'Hyundai expects the listing of the equity shares in India “will enhance our visibility and brand image,” and “provide liquidity and a public market” for the shares, the company said in the draft prospectus filed on Saturday.', 'It did not provide a timeline for the listing, but typically India’s markets regulator, the Securities and Exchange Board of India, takes three to six months to approve, reject or seek more information on IPOs.', 'The company said it plans to focus on “premiumisation” — selling more expensive cars, as well as increasing its EV market share and adding charging stations, where it lags behind Tata Motors.', 'Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub.', 'Indian Prime Minister Narendra Modi sees the automotive industry as a cornerstone to boosting growth in the world’s fifth-largest economy.', 'His government has built hundreds of kilometers of new roads and is incentivising car makers to increase local manufacturing, especially of electric vehicles.', 'Hyundai entered India 28 years ago and has won over buyers with its affordable cars such as Santro and sports-utility vehicle Creta.', 'The company has plans to launch new electric vehicles, establish charging stations and a battery pack assembly unit.', 'The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO.', 'The sources have said the final percentage could be lower.', 'With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers.', 'Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period.', 'Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.']",0.2621860827397431,"The listing is seen putting Hyundai Motor India on a stronger footing versus Maruti Suzuki, Tata Motors andother rivalsas it could make future fundraising easier, without the need to depend on its Korean parent.",The sources have said the final percentage could be lower.,0.8568693832917647,"Benchmark Indian stock indices have doubled between 2019 and 2023, while Seoul’s KOSPI index has risen just 30% over the same period.",The sources have said the final percentage could be lower.,2024-06-16 -Chiquita found liable for financing paramilitary group,https://edition.cnn.com/2024/06/11/business/chiquita-banana-liable-paramilitary-group-colombia/index.html," - Updated - 2:54 PM EDT, Wed June 12, 2024 - ","A Florida jury on Monday found banana company Chiquita Brands International liable for financing the Colombian paramilitary group Autodefensas Unidas de Colombia (AUC). - - The jury in the civil case, in federal court in the Southern District of Florida, found that “Chiquita knowingly provided substantial assistance to the AUC to a degree sufficient to create a foreseeable risk of harm to others.” - - Chiquita, one of the world’s largest banana producers, has been ordered to pay a total of $38.3 million to the families of eight victims of the AUC, which was a far-right paramilitary group that was designated a terrorist organization by the US. The group disbanded in 2006, according to Stanford University’s Mapping Militants Project. - - In an amended Florida lawsuit, which was filed in 2008, the plaintiffs alleged payments from Chiquita to the AUC propped up the paramilitary group’s violence in Colombia and that the company should be held liable for the group’s murders. - - In a statement to CNN, Chiquita said it planned to appeal the jury’s verdict. - - “The situation in Colombia was tragic for so many, including those directly affected by the violence there, and our thoughts remain with them and their families. However, that does not change our belief that there is no legal basis for these claims,” the company’s statement said. “While we are disappointed by the decision, we remain confident that our legal position will ultimately prevail.” - - Searcy Law, a law firm representing AUC victims and their families, applauded Tuesday’s decision in a press release. - - “The verdict sends a powerful message: corporations will be held accountable when business decisions prioritize profits over human lives,” Searcy Law said. - - The lives of the victims were devastated as a result of violence by AUC, Searcy Law said. CNN has reached out to the victims’ families. - - In 2007, Chiquita pleaded guilty to making over 100 payments to the AUC totaling over $1.7 million despite the group being designated a terrorist organization. Chiquita recorded the AUC payments as “security services,” though the company never received any actual services from these payments, according to a US Justice Department press release from the time. The company agreed to pay the US government a $25 million fine, the US said in its release. - - An unnamed company executive had told the Justice Department that the payments had been made under the threat of violence, according to the release. However, the Florida jury ruled that Chiquita failed to “act as a reasonable businessperson would have acted under the circumstances.” - - “Chiquita’s claim that it was forced to support the terrorists because it was itself the victim of extortion was a defense expressly rejected by the jury,” Searcy Law said. - - Searcy Law attorney Victoria Mesa-Estrada said the verdict is a wake-up call for businesses to “re-evaluate their operations and ensure they are not even indirectly supporting violence or human rights abuses.” - - In a social media post, Colombia’s president, Gustavo Petro, reacted to the American jury’s Tuesday decision and asked why the same ruling was not made in his home country. - - “Why could US justice determine in judicial truth that Chiquita Brands financed paramilitarism in Urabá? Why couldn’t Colombian justice?” he said in a post on X translated from Spanish. - - This story has been updated with additional details.",CNN,12/06/2024,"['A Florida jury on Monday found banana company Chiquita Brands International liable for financing the Colombian paramilitary group Autodefensas Unidas de Colombia (AUC).', 'The jury in the civil case, in federal court in the Southern District of Florida, found that “Chiquita knowingly provided substantial assistance to the AUC to a degree sufficient to create a foreseeable risk of harm to others.”', 'Chiquita, one of the world’s largest banana producers, has been ordered to pay a total of $38.3 million to the families of eight victims of the AUC, which was a far-right paramilitary group that was designated a terrorist organization by the US.', 'The group disbanded in 2006, according to Stanford University’s Mapping Militants Project.', 'In an amended Florida lawsuit, which was filed in 2008, the plaintiffs alleged payments from Chiquita to the AUC propped up the paramilitary group’s violence in Colombia and that the company should be held liable for the group’s murders.', 'In a statement to CNN, Chiquita said it planned to appeal the jury’s verdict.', '“The situation in Colombia was tragic for so many, including those directly affected by the violence there, and our thoughts remain with them and their families.', 'However, that does not change our belief that there is no legal basis for these claims,” the company’s statement said. “', 'While we are disappointed by the decision, we remain confident that our legal position will ultimately prevail.”', 'Searcy Law, a law firm representing AUC victims and their families, applauded Tuesday’s decision in a press release.', '“The verdict sends a powerful message: corporations will be held accountable when business decisions prioritize profits over human lives,”Searcy Law said.', 'The lives of the victims were devastated as a result of violence by AUC, Searcy Law said.', 'CNN has reached out to the victims’ families.', 'In 2007, Chiquita pleaded guilty to making over 100 payments to the AUC totaling over $1.7 million despite the group being designated a terrorist organization.', 'Chiquita recorded the AUC payments as “security services,” though the company never received any actual services from these payments, according to a US Justice Department press release from the time.', 'The company agreed to pay the US government a $25 million fine, the US said in its release.', 'An unnamed company executive had told the Justice Department that the payments had been made under the threat of violence, according to the release.', 'However, the Florida jury ruled that Chiquita failed to “act as a reasonable businessperson would have acted under the circumstances.”', '“Chiquita’s claim that it was forced to support the terrorists because it was itself the victim of extortion was a defense expressly rejected by the jury,” Searcy Law said.', 'Searcy Law attorney Victoria Mesa-Estradasaid the verdict is a wake-up call for businesses to “re-evaluate their operations and ensure they are not even indirectly supporting violence or human rights abuses.”', 'In a social media post, Colombia’s president, Gustavo Petro, reacted to the American jury’s Tuesday decision and asked why the same ruling was not made in his home country.', '“Why could US justice determine in judicial truth that Chiquita Brands financed paramilitarism in Urabá?', 'Why couldn’t Colombian justice?”', 'he said in a post on X translated from Spanish.', 'This story has been updated with additional details.']",-0.1766780519931108,"“The verdict sends a powerful message: corporations will be held accountable when business decisions prioritize profits over human lives,”Searcy Law said.","The lives of the victims were devastated as a result of violence by AUC, Searcy Law said.",0.0136027038097381,"While we are disappointed by the decision, we remain confident that our legal position will ultimately prevail.”",A Florida jury on Monday found banana company Chiquita Brands International liable for financing the Colombian paramilitary group Autodefensas Unidas de Colombia (AUC).,2024-06-16 -Washington Post CEO Will Lewis’ status ‘increasingly untenable’ as newsgathering controversies mount,https://edition.cnn.com/2024/06/16/media/washington-post-will-lewis-phone-hacking/index.html," - Updated - 7:37 AM EDT, Mon June 17, 2024 - ","A report from the New York Times on Saturday alleges Will Lewis, the Washington Post’s embattled new publisher and chief executive, used fraudulent and unethical methods to obtain information for articles while working at the London-based Sunday Times in the early 2000s. - - Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were “fraudulently obtained” through hacking and paying sources for information. - - Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country. Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening. Margaret Sullivan, executive director of the Craig Newmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.” - - These latest allegations of questionable journalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor, Sally Buzbee. The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism. - - Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November. The Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnett then used in his journalism. - - In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly. Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage. The publisher has no involvement in or influence on our reporting.” - - Winnett did not immediately respond to a CNN query via LinkedIn. - - The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standards are recognized in many newsrooms, warns journalists in its Code of Ethics: “Do not pay for access to news.” - - While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance of undue intrusiveness.” - - The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing. Lewis has previously said his role in the scandal consisted of rooting out problematic behavior. - - A spokesperson for the Washington Post told CNN Lewis declined to comment. - - A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.” - - The decade-old scandal engulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in a new lawsuit filed by Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant. At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation. - - But a cascade of claims has followed Lewis in recent weeks, mostly involving alleged attempts to suppress stories about his connection with the coverup. Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed with Buzbee over publishing an article in May that named him in connection to the scandal, although a spokesperson for Lewis has denied he pressured Buzbee to quash the article, according to NPR. - - Buzbee abruptly left the company earlier this month. Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal. - - The Washington Post did not respond to CNN with regard to these allegations. - - A spokesperson for Lewis told the New York Times earlier this month when the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.” The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.” - - Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further. A number of Post staffers who spoke to CNN have described plummeting morale. “It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented. - - In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make. Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added. - - Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.” He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.",CNN,17/06/2024,"['A report from the New York Times on Saturday allegesWill Lewis, the Washington Post’s embattled new publisher and chief executive,used fraudulent and unethical methodsto obtain information for articles while working at the London-based Sunday Timesin the early 2000s.', 'Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were“fraudulently obtained”through hacking and paying sources for information.', 'Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country.', 'Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening.', 'Margaret Sullivan, executive director of the CraigNewmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.”', 'These latest allegations ofquestionablejournalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor,Sally Buzbee.', 'The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism.', 'Late on Sunday, the Washington Post itself published a story about Robert Winnett, whom Lewis appointed to take the top job at the Post’s core newsroom after the US presidential election in November.', 'The Post article alleged that Winnett, a Lewis protege, was linked to a man who used dishonest means to obtain information that Winnettthen used in his journalism.', 'In a statement, the Washington Post said: “We cover The Washington Post independently, rigorously and fairly.', 'Given perceived and potential conflicts, we have asked former senior managing editor Cameron Barr, who stepped down from that position in 2023 and now has a contractual relationship as a senior associate editor, to oversee this coverage.', 'The publisher has no involvement in or influence on our reporting.”', 'Winnett did not immediately respond to a CNN query via LinkedIn.', 'The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standardsare recognized inmany newsrooms, warns journalists in itsCode of Ethics: “Do not pay for access to news.”', 'While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance ofundue intrusiveness.”', 'The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.', 'Lewis haspreviously saidhis role in the scandal consisted of rooting out problematic behavior.', 'A spokesperson for the Washington Post told CNN Lewis declined to comment.', 'A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”', 'Thedecade-old scandalengulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in anew lawsuit filedby Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant.', 'At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation.', 'But a cascade of claims has followed Lewis in recent weeks, mostly involvingalleged attempts to suppress stories about his connection with the coverup.', 'Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed withBuzbeeover publishing an article in May that named him in connection to the scandal,although aspokesperson for Lewis has denied he pressured Buzbeeto quash the article, according to NPR.', 'Buzbee abruptly left the company earlier this month.', 'Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal.', 'The Washington Post did not respond to CNN with regard to these allegations.', 'A spokesperson for Lewistold the New York Times earlier this monthwhen the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.”', 'The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.”', 'Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further.', 'A number of Post staffers who spoke to CNN have described plummeting morale. “', 'It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented.', 'In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.', 'Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added.', 'Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.”', 'He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.']",-0.0882405686082717,"A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”","The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.",-0.4013231217861175,"In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.",A number of Post staffers who spoke to CNN have described plummeting morale. “,2024-06-16 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-06-16 -Hot dog eating champ Joey Chestnut barred from competing in this year’s contest,https://edition.cnn.com/2024/06/11/business/nathans-hot-dog-joey-chestnut-banned-impossible/index.html," - Updated - 10:24 AM EDT, Wed June 12, 2024 - ","Dynastic hot dog eating champion Joey Chestnut will not compete in this year’s Nathan’s hot dog eating contest after he struck a deal with plant-based food company Impossible Foods. - - “We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement. - - Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods. - - MLE co-founder George Shea said the company tried to accommodate Chestnut and his management team, which included allowing him to compete in a rival unbranded hot dog eating contest on Labor Day. - - “It’s a long-standing rule not to represent a rival brand,” Shea said. “Michael Jordan can’t go to Adidas and say that Air Jordans are great.” - - The MLE has also emphasized that Chestnut was not banned for life from competing, citing his 20-year relationship with the league. The organization said that to come back Chestnut must renounce deals with brands that rival Nathan’s. - - “Joey Chestnut is an American hero. We would love nothing more than to have him at Nathan’s Famous International Hot Dog Eating Contest, which he has dominated for years. We hope that he returns when he is not representing a rival brand,” the MLE said in a statement. - - An account under Chestnut’s name wrote on X Tuesday that he does “not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.” - - CNN has not independently confirmed the authenticity of the X account. - - This is not the first instance of Nathan’s beefing with their winners. Chestnut’s rival and former reigning champion Takeru Kobayashi did not compete in the 2010 contest, reportedly due to disputes with the company over getting him to sign an exclusive contract. - - An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses. It’s OK to experiment with a new dog. Meat eaters shouldn’t have to be exclusive to just one wiener.” - - Joey Chestnut, Nathan’s and its parent company, Smithfield Foods, did not reply to requests for comment.",CNN,12/06/2024,"['Dynastic hot dog eating champion Joey Chestnut will not compete in this year’s Nathan’s hot dog eating contest after he struck a deal with plant-based food company Impossible Foods.', '“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.', 'Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.', 'MLE co-founder George Shea said the company tried to accommodate Chestnut and his management team, which included allowing him to compete in a rival unbranded hot dog eating contest on Labor Day.', '“It’s a long-standing rule not to represent a rival brand,” Shea said. “', 'Michael Jordan can’t go to Adidas and say that Air Jordans are great.”', 'The MLE has also emphasized that Chestnut was not banned for life from competing, citing his 20-year relationship with the league.', 'The organization said that to come back Chestnut must renounce deals with brands that rival Nathan’s.', '“Joey Chestnut is an American hero.', 'We would love nothing more than to have him at Nathan’s Famous International Hot Dog Eating Contest, which he has dominated for years.', 'We hope that he returns when he is not representing a rival brand,” the MLE said in a statement.', 'An account under Chestnut’s name wrote on X Tuesday that he does “not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.”', 'CNN has not independently confirmed the authenticity of the X account.', 'This is not the first instance of Nathan’s beefing with their winners.', 'Chestnut’s rival and former reigning champion Takeru Kobayashi did not compete in the 2010 contest, reportedly due to disputes with the company over getting him to sign an exclusive contract.', 'An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses.', 'It’s OK to experiment with a new dog.', 'Meat eaters shouldn’t have to be exclusive to just one wiener.”', 'Joey Chestnut, Nathan’s and its parent company, Smithfield Foods, did not reply to requests for comment.']",0.2868838272411839,"An Impossible Foods spokesperson said, “We love Joey and support him in any contest he chooses.","“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.",-0.3391079505284627,"Chestnut won the “Mustard Yellow Belt” 16 times, ate a world record 76 hot dogs and buns in 10 minutes in 2021 and has reportedly made hundreds of thousands, if not millions, of dollars for his competitive eating of hot dogs and other foods.","“We are devastated to learn that Joey Chestnut has chosen to represent a rival brand that sells plant-based hot dogs rather than competing in the 2024 Nathan’s Famous Fourth of July Hot Dog Eating Contest,” the Major League Eating organization, which oversees the event, said in a statement.",2024-06-16 -America’s top central banker says the job market is back to normal. Is that right?,https://edition.cnn.com/2024/06/16/economy/stocks-week-ahead-us-job-market-normal/index.html," - Published - 7:30 AM EDT, Sun June 16, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. But that assertion may not be exactly right, according to ZipRecruiter’s chief economist. - - “Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year. - - The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show. The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022. - - Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic. The rate at which Americans are quitting their jobs is also back to pre-pandemic levels. - - It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020. Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.” - - However, the 2024 job market differs from 2019 in a few key ways. And those factors may not change anytime soon. - - Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. - - (This interview has been edited for length and clarity.) - - Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? - - Julia Pollak: No, I would say that this is not quite the same normal. It’s a new normal, and there are some key differences. We’re still adding employees faster than 2019. But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower. - - Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs. Now, is that necessarily a bad thing? It’s not clear. - - Why is the job market slower now? - - High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking. They’re not hiring new grads at the same rate, they seem quite reluctant to do so. It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates. - - The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs. People are eager to hang on to their job that gives them flexibility. I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition. - - Unlike in 2019, there is more remote work and more flexible work. Remote and hybrid work are like five times bigger than they were before the pandemic. That’s here to stay. - - But what about this persistently wide gap between job openings and the number of unemployed folks seeking work? - - I think there’s reason to believe the labor market is actually less tight now than it was in 2019. The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count. - - You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey]. - - It seems like we are systematically over-counting openings by more and more each year for some reason. - - Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports. - - President Emmanuel Macron called the snap elections a week ago after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - Read more here. - - Monday: Earnings from Lennar and La-Z-Boy. Fed officials Patrick Harker and Lisa Cook deliver remarks. The New York Fed releases its Empire State Manufacturing Index for June. - - Tuesday: The Reserve Bank of Australia announces its latest interest rate decision. The US Commerce Department releases May figures on retail sales and reports business inventories in April. The Federal Reserve releases May data on industrial production. Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks. Japan releases May data on trade flows. - - Wednesday: The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June. - - Thursday: Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s. The Bank of England announces its latest interest rate decision. The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter. The US Labor Department reports on the number of new applications for unemployment in the week ending June 15. The Philadelphia Fed releases its Manufacturing Index for June. Richmond Fed President Tom Barkin delivers remarks. - - Friday: Earnings from CarMax. S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors. The National Association of Realtors reports existing home sales in May.",CNN,16/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society.', 'But that assertion may not be exactly right, according to ZipRecruiter’s chief economist.', '“Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year.', 'The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.', 'The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022.', 'Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic.', 'The rate at which Americans are quitting their jobs is also back to pre-pandemic levels.', 'It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020.', 'Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.”', 'However, the 2024 job market differs from 2019 in a few key ways.', 'And those factors may not change anytime soon.', 'Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market.', '(This interview has been edited for length and clarity.)', 'Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal?', 'Julia Pollak: No, I would say that this is not quite the same normal.', 'It’s a new normal, and there are some key differences.', 'We’re still adding employees faster than 2019.', 'But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower.', 'Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs.', 'Now, is that necessarily a bad thing?', 'It’s not clear.', 'Why is the job market slower now?', 'High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking.', 'They’re not hiring new grads at the same rate, they seem quite reluctant to do so.', 'It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates.', 'The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs.', 'People are eager to hang on to their job that gives them flexibility.', 'I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition.', 'Unlike in 2019, there is more remote work and more flexible work.', 'Remote and hybrid work are like five times bigger than they were before the pandemic.', 'That’s here to stay.', 'But what about this persistently wide gap between job openings and the number of unemployed folks seeking work?', 'I think there’s reason to believe the labor market is actually less tight now than it was in 2019.', 'The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.', 'You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey].', 'It seems like we are systematically over-counting openings by more and more each year for some reason.', 'Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports.', 'President Emmanuel Macron called the snap elections a week ago after his party lost to thefar right in a vote for EU lawmakers, a shock move thatrattledmarkets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.', 'Read more here.', 'Monday:Earnings from Lennar and La-Z-Boy.', 'Fed officials Patrick Harker and Lisa Cook deliver remarks.', 'The New York Fed releases its Empire State Manufacturing Index for June.', 'Tuesday:The Reserve Bank of Australia announces its latest interest rate decision.', 'The US Commerce Department releases May figures on retail sales and reports business inventories in April.', 'The Federal Reserve releases May data on industrial production.', 'Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks.', 'Japan releases May data on trade flows.', 'Wednesday:The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June.', 'Thursday:Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s.', 'The Bank of England announces its latest interest rate decision.', 'The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter.', 'The US Labor Department reports on the number of new applications for unemployment in the week ending June 15.', 'The Philadelphia Fed releases its Manufacturing Index for June.', 'Richmond Fed President Tom Barkin delivers remarks.', 'Friday:Earnings from CarMax.', 'S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors.', 'The National Association of Realtors reports existing home sales in May.']",0.0119642752697554,"There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.,-0.0309852843101208,"The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.",Why is the job market slower now?,2024-06-16 -China is trying to rescue its property market. Prices are still plunging,https://edition.cnn.com/2024/06/17/business/china-property-price-record-slump-intl-hnk/index.html," - Published - 6:17 AM EDT, Mon June 17, 2024 - ","Prices of new homes in China suffered their biggest fall in nearly a decade last month, in a sign that Beijing’s “historic” real estate rescue has not yet revived demand. - - Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday. That’s the steepest month-on-month drop since October 2014, according to Reuters calculation. - - According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record. - - A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases. - - “To be fair, one month is too short for the housing rescue package to take effect,” said analysts from Societe Generale on Monday. - - Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said. - - Still, other numbers on the real estate sector remain bleak. - - Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday. - - New property sales fell 28% during the same period. - - Some parts of the Chinese economy reported a more optimistic picture, according to a separate set of top indicators released by the NBS on Monday. - - Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts. - - Much of that boost came from a massive government trade-in programs for used cars and old home appliances, aimed at bolstering domestic consumption. The Labor Day “Golden Week” holiday, which ran from May 1 to May 5, also helped reignite some consumer spending. - - Industrial output lost some momentum, growing 5.6% in May from a year ago, compared to April’s 6.7% increase. Fixed asset investment also missed expectations. - - But China’s exports jumped 7.6% in May, marking the fastest pace since April 2023, according to customs data released earlier this month. Imports, however, fell short of estimates. - - “The growth is highly uneven,” with exports as the driver and the property sector acting as a drag, said Macquarie analysts. - - The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak. - - The consumer price index inched up just 0.3% in May, unchanged from April, according to the NBS last week. That was slightly below expectations. - - Producer prices dropped 1.4%, down for a 20th consecutive month. - - “While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday. - - “More attention will turn towards next month’s Third Plenum (of the Communist Party) which will highlight economic reforms for the coming years,” they said.",CNN,17/06/2024,"['Prices of new homes in China suffered their biggest fall in nearly a decade last month, in a sign that Beijing’s “historic” real estate rescue has not yet revived demand.', 'Prices in 70 major cities were down 0.7% in May from April, National Bureau of Statistics (NBS) figures showed on Monday.', 'That’s the steepest month-on-month drop since October 2014, according to Reuters calculation.', 'According to separate calculations by the Macquarie Group, prices of existing homes in those cities fell by 7.5% year-on-year last month, marking the biggest decline on record.', 'A month ago, Beijing unveiled wide-ranging measures to rescue the crisis-hit property market, including asking local governments across the country to buy unsold homes from beleaguered developers and easing rules on purchases.', '“To be fair, one month is too short for the housing rescue package to take effect,” said analysts from Societe Generale on Monday.', 'Measures, including efforts to provide cheap loans to state-owned enterprises for buying unsold homes from distressed developers, will “take time” to have an impact on the property market, the analysts said.', 'Still, other numbers on the real estate sector remain bleak.', 'Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.', 'New property sales fell 28% during the same period.', 'Some parts of the Chinese economy reported a more optimistic picture, according to a separate set of top indicators released by the NBS on Monday.', 'Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts.', 'Much of that boost came from a massive government trade-in programs for used cars and old home appliances, aimed at bolstering domestic consumption.', 'The Labor Day “Golden Week” holiday, which ran from May 1 to May 5, also helped reignite some consumer spending.', 'Industrial output lost some momentum, growing 5.6% in May from a year ago, compared to April’s 6.7% increase.', 'Fixed asset investment also missed expectations.', 'But China’s exports jumped 7.6% in May, marking the fastest pace since April 2023, according to customs data released earlier this month.', 'Imports, however, fell short of estimates.', '“The growth is highly uneven,” with exports as the driver and the property sector acting as a drag, said Macquarie analysts.', 'The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak.', 'The consumer price index inched up just 0.3% in May, unchanged from April, according to the NBS last week.', 'That was slightly below expectations.', 'Producer prices dropped 1.4%, down for a 20th consecutive month.', '“While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday.', '“More attention will turn towards next month’s Third Plenum (of the Communist Party) which will highlight economic reforms for the coming years,” they said.']",0.0947871426060017,"“While China’s growth remains uneven, we think more policy support is likely to come through to help keep growth on track for this year’s GDP growth target [of around 5%],” said analysts from HSBC on Monday.",The threat of deflation continues to haunt the world’s second largest economy as domestic demand remains weak.,-0.3026188301003497,"Retail sales increased 3.7% in May, accelerating from a 2.3% rise in April and beating market forecasts.","Property investment for the first five months of the year dropped 10.1% from a year ago, according the NBS on Monday.",2024-06-16 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-06-16 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-06-16 -Sony Pictures is buying Alamo Drafthouse,https://edition.cnn.com/2024/06/12/media/sony-pictures-buys-alamo-drafthouse/index.html," - Published - 3:36 PM EDT, Wed June 12, 2024 - ","Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday. - - Alamo Drafthouse, headquartered in Austin, Texas, has 35 theaters in 25 metro areas. It rose to popularity and has a passionate fanbase due to its dine-in and cocktail menus and its reputation as an oasis for film buffs with its strict no-talking rules. - - But despite being a fan favorite, it was hit hard by the Covid-19 pandemic. It filed for bankruptcy in March 2021 and began closing locations. Business began rebounding and last year it saw a 30% jump in box office revenue from the year before. - - Sony said in a press release that the movie theater chain will be managed under a new division, Sony Pictures Experiences. Alamo Drathouse’s CEO Michael Kustermann will remain in his position, but will now report to Ravi Ahuja, President and COO of SPE. - - While other Hollywood studios have jumped into streaming, Sony Pictures CEO and chairman Tom Rothman has expressed his commitment to movie theaters, according to various trade publications including The Hollywood Reporter. Sony Pictures touted its other spaces in the press release, such as Wonderverse, an immersive entertainment space, in Chicago and a Wheel of Fortune LIVE! traveling tour. - - “The deal reinforces SPE’s long-held commitment to theatrical exhibition and continued initiatives in experiential entertainment,” the press release said. - - Sony acquired Alamo from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League. - - Also included in the acquisition was Alamo Drafthouse’s film festival, Fantastic Fest, which focuses on different genre films from horror to science fiction.",CNN,12/06/2024,"['Sony Pictures Entertainment has bought dine-in movie theater chain Alamo Drafthouse, the companies announced Wednesday.', 'Alamo Drafthouse, headquartered in Austin, Texas, has 35 theaters in 25 metro areas.', 'It rose to popularity and has a passionate fanbase due to its dine-in and cocktail menus and its reputation as an oasis for film buffs with its strict no-talking rules.', 'But despite being a fan favorite, it was hit hard by the Covid-19 pandemic.', 'It filed for bankruptcy in March 2021 and began closing locations.', 'Business began rebounding and last year it saw a 30% jump in box office revenue from the year before.', 'Sony said in a press release that the movie theater chain will be managed under a new division, Sony Pictures Experiences.', 'Alamo Drathouse’s CEO Michael Kustermann will remain in his position, but will now report to Ravi Ahuja, President and COO of SPE.', 'While other Hollywood studios have jumped into streaming, Sony Pictures CEO and chairman Tom Rothman has expressed his commitment to movie theaters, according to various trade publications including The Hollywood Reporter.', 'Sony Pictures touted its other spaces in the press release, such as Wonderverse, an immersive entertainment space, in Chicago and a Wheel of Fortune LIVE!', 'traveling tour.', '“The deal reinforces SPE’s long-held commitment to theatrical exhibition and continued initiatives in experiential entertainment,” the press release said.', 'Sony acquired Alamo from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.', 'Also included in the acquisition was Alamo Drafthouse’s film festival, Fantastic Fest, which focuses on different genre films from horror to science fiction.']",0.2333602606142631,"“The deal reinforces SPE’s long-held commitment to theatrical exhibition and continued initiatives in experiential entertainment,” the press release said.",,0.5889882942040762,Business began rebounding and last year it saw a 30% jump in box office revenue from the year before.,"But despite being a fan favorite, it was hit hard by the Covid-19 pandemic.",2024-06-16 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network���s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-06-16 -Wells Fargo fired a dozen people accused of faking keyboard strokes,https://edition.cnn.com/2024/06/14/business/wells-fargo-staff-wfh-nightcap/index.html," - Updated - 1:49 PM EDT, Fri June 14, 2024 - ","The pandemic may have released us from the tyranny of the five-day-a-week office schedule. But the grip of America’s busy-work culture is proving harder to shake. - - See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.” - - In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. - - Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic. With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off. - - Even though most workers said they were more productive from home, many executives  adopted “bossware” to monitor their staff’s laptops. (And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality. We hope you can forgive us.) - - At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. It’s not clear whether they were working from home or from a beach, or what they were doing instead of working. A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.” - - I have two immediate thoughts - - • Oh, come on, the highest standards? (More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults. - - “The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “And that’s a symptom of a much larger problem.” - - In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. - - Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees. - - Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry. - - Since then, Wells has been trying to reform its own internal culture while trying to repair its brand. It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees. - - Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated. - - But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion. - - “Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “So, team members are going to innovate around that.” - - —CNN’s Matt Egan contributed reporting.",CNN,14/06/2024,"['The pandemic may have released us from the tyranny of the five-day-a-week office schedule.', 'But the grip of America’s busy-work culture is proving harder to shake.', 'See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority.', 'CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”', 'In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20.', 'Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic.', 'With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off.', 'Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (', 'And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality.', 'We hope you can forgive us.)', 'At any rate, some bankers over at Wells Fargo seem to have gotten caught last month.', 'It’s not clear whether they were working from home or from a beach, or what they were doing instead of working.', 'A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.”', 'I have two immediate thoughts • Oh, come on, the highest standards? (', 'More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults.', '“The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “', 'And that’s a symptom of a much larger problem.”', 'In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history.', 'Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.', 'Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry.', 'Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.', 'It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees.', 'Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated.', 'But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion.', '“Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “', 'So, team members are going to innovate around that.”', '—CNN’s Matt Egan contributed reporting.']",0.030770333410372,CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”,"Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.",-0.5993990302085876,"Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (",But the grip of America’s busy-work culture is proving harder to shake.,2024-06-16 -‘They’re treating us like we’re spies’: Florida property ban has Chinese citizens fuming,https://edition.cnn.com/2024/06/17/homes/florida-law-bans-chinese-citizens-buying-homes/index.html," - Published - 12:01 AM EDT, Mon June 17, 2024 - ","After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida. Then, he was told the purchase might get him prison time. - - “That was really shocking to me. It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “Once I learned that, I didn’t even bother to look anymore.” - - Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers. For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state. - - Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state. Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether. And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year. - - Bian said that lately, he had begun reconsidering his life in Florida. He isn’t alone. Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state. Sellers and real estate agents can also be found liable under the law. - - “We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “We feel like we’re not welcome.” - - Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida. - - For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state. - - “Florida is taking action to stand against the United States’ greatest geopolitical threat — the Chinese Communist Party (CCP),” DeSantis said in a statement last year. - - The law is currently being challenged in court, but several other states are considering similar laws. - - “Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “We think this is a form of discrimination based on race, based on national origin and based on visa status.” - - Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act. He says there should be a distinction made between the CCP and Chinese nationals. - - The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.” But the term “domiciled” isn’t fully defined in the law’s language. - - Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill. - - Like Bian, Li had been searching for a new home when the law passed. Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications. - - “I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “No matter if I have a green card or I’m a citizen, I still have a Chinese face.” - - The controversial law comes at a time when relations between the US and China have grown increasingly tense. - - Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US. - - In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat. According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US. - - “The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “That’s common sense.” - - To Bian, accusations of spying are offensive. - - “We’re ordinary people. We don’t talk about these political things,” he said. “I think 99.99% of people here just want to have a good life.” - - Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty. Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions. - - “The law has caused us so much confusion,” she said. “It definitely hurts business.” - - Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents. - - “People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “It’s very unfair and also very un-American.” - - Jin, who is a citizen, said she plans to stay in Florida. But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books. - - Li said she will likely leave Florida after her daughter goes off to college. Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California. - - “I don’t think California will ever have this kind of law.”",CNN,17/06/2024,"['After his employer implemented a return-to-office policy last year, Jin Bian decided to cut down his one-hour commute time by purchasing a house closer to the office in Tampa, Florida.', 'Then, he was told the purchase might get him prison time.', '“That was really shocking to me.', 'It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. “', 'Once I learned that, I didn’t even bother to look anymore.”', 'Bian, a 31-year-old software engineer who has lived in the US for 12 years, is a recipient of an H-1B visa, which allows companies to employ foreign workers.', 'For nearly a year, however, it has been a crime for him to purchase a home in Florida after the state’s governor, Ron DeSantis, signed a law restricting Chinese nationals without US green cards from purchasing property in the state.', 'Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state.', 'Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether.', 'And the law underscores the heightened tensions between the two biggest economies in the world in a US presidential election year.', 'Bian said that lately,he had begun reconsidering his life in Florida.', 'He isn’t alone.', 'Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.', 'Sellers and real estate agents can also be found liable under the law.', '“We feel like we’re different from everyone else because of this type of law,” said Echo King, a US citizen who was born in China and is president of the Florida Asian American Justice Alliance. “', 'We feel like we’re not welcome.”', 'Under SB 264, citizens of Russia, Iran, North Korea, Cuba, Venezuela and Syria are prohibited from buying property within 10 miles of any “military installation or critical infrastructure facility” in Florida.', 'For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state.', '“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.', 'The law is currently being challenged in court, but several other states are considering similar laws.', '“Florida has gone far beyond what is necessary to combat the so-called CCP influence,” said Clay Zhu, an attorney who has partnered with the American Civil Liberties Union to sue the state, challenging the law. “', 'We think this is a form of discrimination based on race, based on national origin and based on visa status.”', 'Zhu likened the law to past discriminatory laws like the Chinese Exclusion Act.', 'He says there should be a distinction made between the CCP and Chinese nationals.', 'The law specifically bans the “purchase or acquisition of real property” by “any person who is domiciled in the People’s Republic of China and who is not a citizen or lawful permanent resident of the United States.”', 'But the term “domiciled” isn’t fully defined in the law’s language.', 'Susan Li, a 47-year-old small business owner in Orlando, Florida, who holds a green card, said she “really felt the discrimination” when she learned about the bill.', 'Like Bian, Li had been searching for a new home when the law passed.', 'Despite the fact that she is a legal resident of the US, her family decided to halt their housing search for fear of potential legal complications.', '“I thought maybe it’s too much to bother, so I’m not looking right now,” she said. “', 'No matter if I have a green card or I’m a citizen, I still have a Chinese face.”', 'The controversial law comes at a time when relations between the US and China have grown increasingly tense.', 'Last year, fears of the Chinese government spying in the US reached a fever pitch after a Chinese surveillance balloon was discovered over Montana and eventually shot down by the US.', 'In addition to allegations that Chinese-owned apps like TikTok are used for spying (which TikTok denies), US lawmakers have increasingly warned that Chinese purchases of agricultural land pose a national security threat.', 'According to the US Department of Agriculture, China owns 349,442 acres of agricultural and non-agricultural land in the US, representing slightly less than 1% of all foreign-held land in the US.', '“The Chinese Communist Party, a dangerous foreign adversary, should not own Virginia’s farmland,” Virginia Republican Governor Glenn Youngkin said on social media last year. “', 'That’s common sense.”', 'To Bian, accusations of spying are offensive.', '“We’re ordinary people.', 'We don’t talk about these political things,” he said. “', 'I think 99.99% of people here just want to have a good life.”', 'Teresa Jin, a mortgage lender in Florida, said she no longer works with clients who are not permanent residents or citizens of the US, but the grey area around the law’s definition of “domiciled” has created uncertainty.', 'Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.', '“The law has caused us so much confusion,” she said. “', 'It definitely hurts business.”', 'Zhu said that some mortgage lenders and brokers in Florida have even begun refusing to work with clients with Chinese passports — even if they are legal residents.', '“People feel as if they are being treated as spies or agents of the Chinese government,” Zhu said. “', 'It’s very unfair and also very un-American.”', 'Jin, who is a citizen, said she plans to stay in Florida.', 'But others are weighing whether they might be more comfortable living in a different state without a law like SB 264 on the books.', 'Li said she will likely leave Florida after her daughter goes off to college.', 'Bian said he has hope that the law will be overturned, but if nothing has changed in a year or two, he plans to move back to California.', '“I don’t think California will ever have this kind of law.”']",-0.1188935252580385,"“Florida is taking action to stand against the United States’ greatest geopolitical threat—the Chinese Communist Party (CCP),” DeSantis said in a statement last year.","Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state.",-0.6851268793855395,Other lenders have agreed to close on deals that she previously rejected for fear of legal repercussions.,It definitely hurts business.”,2024-06-16 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-06-16 -RV sales are picking up. That’s a good sign for the economy,https://edition.cnn.com/2024/06/16/economy/rv-sales-economy/index.html," - Published - 10:30 AM EDT, Sun June 16, 2024 - ","At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by. - - The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance. - - That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016. Bookings are light; plus, the people who are traveling are taking shorter trips, she said. - - “We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “I actually think it has a lot to do with people having less discretionary spending available.” - - She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.” - - On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism. - - The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether. - - When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. - - RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering. - - “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.” - - RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval. - - So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said. - - Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green. - - “We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call. - - The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet. - - “We’ve been able to get a little creative with it,” Shneyder said. “Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.” - - And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some. - - “We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “And so now we’ve rented it out for them.” - - Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said. - - The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said. - - “Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic. This ate into 2022 and 2023 sales.” - - RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association. - - By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000. - - Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA. In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said. - - Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows. - - Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data. That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion. - - Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added. - - The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units. That’s expected to grow next year to between 374,200 to 408,600. - - The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said. - - “We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.” - - To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana. - - The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.” Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart. - - “And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart. - - Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows. - - When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain. - - In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns. Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%. - - It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time. - - “Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “However, we haven’t seen any of the large job cuts we did during the Great Recession. [The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.” - - At the dealer level, there’s optimism as well. - - Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium. - - Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs. - - Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said. - - “Election years are always off, so we’ll be happy when we get through November,” he said. “Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past. It really doesn’t matter who wins, just as long as it’s done.” - - Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said. - - “You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.” - - He added: “Here in Elkhart it does seem business as usual. Could business be better? Of course it could. But could it be worse? It sure could.”",CNN,16/06/2024,"['At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by.', 'The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance.', 'That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016.', 'Bookings are light; plus, the people who are traveling are taking shorter trips, she said.', '“We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “', 'I actually think it has a lot to do with people having less discretionary spending available.”', 'She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.”', 'On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.', 'The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether.', 'When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.', 'RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering.', '“People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “', 'It’s so sensitive to interest rate changes, which often precede a downturn.”', 'RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval.', 'So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said.', 'Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green.', '“We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call.', 'The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet.', '“We’ve been able to get a little creative with it,” Shneyder said. “', 'Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.”', 'And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some.', '“We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “', 'And so now we’ve rented it out for them.”', 'Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said.', 'The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said.', '“Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “', 'So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic.', 'This ate into 2022 and 2023 sales.”', 'RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before.', 'They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.', 'By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000.', 'Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA.', 'In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said.', 'Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.', 'Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data.', 'That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion.', 'Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added.', 'The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units.', 'That’s expected to grow next year to between 374,200 to 408,600.', 'The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said.', '“We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “', 'Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.”', 'To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana.', 'The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.”', 'Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart.', '“And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart.', 'Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows.', 'When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.', 'In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns.', 'Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%.', 'It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time.', '“Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “', 'However, we haven’t seen any of the large job cuts we did during the Great Recession. [', 'The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.”', 'At the dealer level, there’s optimism as well.', 'Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium.', 'Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs.', 'Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said.', '“Election years are always off, so we’ll be happy when we get through November,” he said. “', 'Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past.', 'It really doesn’t matter who wins, just as long as it’s done.”', 'Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said.', '“You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “', 'I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.”', 'He added: “Here in Elkhart it does seem business as usual.', 'Could business be better?', 'Of course it could.', 'But could it be worse?', 'It sure could.”']",0.1770719017981792,"On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.","When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.",0.1214437454174726,"That’s expected to grow next year to between 374,200 to 408,600.","Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.",2024-06-16 -Nationwide says it’s dropping thousands of pet insurance policies due to inflation,https://edition.cnn.com/2024/06/17/business/pet-insurance-cost/index.html," - Published - 3:25 PM EDT, Mon June 17, 2024 - ","Taking care of Fido is getting out of reach for more Americans. - - Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care. - - The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans. - - “Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide said in an announcement last week. - - Impacted policyholders will be notified in writing, the company said. - - Nationwide said it’s taking steps like this to continue its business in the future. - - “We certainly empathize with the disappointment many of our pet families feel and will fully stand by the protections for which they have paid through the end of their current term,” Nationwide said. - - Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons. - - It’s been an expensive year to keep up with insurance, adding to the influx of high prices hurting American families’ wallets. - - Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data. Many factors are behind that trend, including rising car repair costs and more severe and frequent car accidents. - - The home insurance market is also falling apart. Climate change is increasing the frequency and severity of extreme weather such as hurricanes, storms and wildfires. Insurers, especially in areas most impacted by extreme weather, are raising their premiums, or pulling out altogether, impacting the affordability and availability of home and fire insurance. - - There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN. - - The higher costs insurers face from higher replacement costs and re-insurance, the type of insurance used by insurers to limit their own risks, is getting passed down to consumers. Insurers in states like California and Florida have paused issuing policies altogether.",CNN,17/06/2024,"['Taking care of Fido is getting out of reach for more Americans.', 'Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.', 'The move comes as other types of insurance, from homeowners to vehicles, are increasingly becoming harder to obtain for many Americans.', '“Inflation in the cost of veterinary care and other factors have led to recent underwriting changes and the withdrawal of some products in some states — difficult actions that are necessary to ensure a financially sustainable future for our pet insurance line of business,” Nationwide said in an announcement last week.', 'Impacted policyholders will be notified in writing, the company said.', 'Nationwide said it’s taking steps like this to continue its business in the future.', '“We certainly empathize with the disappointment many of our pet families feel and will fully stand by the protections for which they have paid through the end of their current term,” Nationwide said.', 'Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons.', 'It’s been an expensive year to keep up with insurance, adding to the influx of high prices hurting American families’ wallets.', 'Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data.', 'Many factors are behind that trend, including rising car repair costs and more severe and frequent car accidents.', 'The home insurance market is also falling apart.', 'Climate change is increasing the frequency and severity of extreme weather such as hurricanes, storms and wildfires.', 'Insurers, especially in areas most impacted by extreme weather, are raising their premiums, or pulling out altogether,impacting the affordability and availability ofhome and fire insurance.', 'There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN.', 'The higher costs insurers face from higher replacement costs and re-insurance, the type of insurance used by insurers to limit their own risks, is getting passed down to consumers.', 'Insurers in states like California and Florida have paused issuing policies altogether.']",-0.0004540339565247,"There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association, previously told CNN.","Price increases are a double whammy for pet owners whose household finances have been weakened by persistently high inflation and for those who fear for rising instances of “economic euthanasia,” when animals are humanely put to death for financial reasons.",-0.5127464945499713,"Vehicle insurance rose 20.3% for the 12 months ending in May, according to the latest Consumer Price Index data.","Nationwide Pet, the country’s largest provider of pet insurance, says it is dropping about 100,000 policies between now and next summer to keep up with spiraling costs in vet care.",2024-06-16 -Europe risks trade war with China by hiking tariffs on its electric cars,https://edition.cnn.com/2024/06/12/cars/europe-china-ev-tariffs/index.html," - Updated - 10:06 AM EDT, Wed June 12, 2024 - ","The European Union has hiked tariffs on electric cars imported from China, drawing a rebuke from Beijing, which sees the bloc as a vital and growing market for its auto industry. - - Additional tariffs of between 17.4% and 38.1% will be applied on top of the existing EU duty of 10%, according to a statement from the European Commission. That takes the highest overall rate to close to 50%. - - The provisional decision follows an investigation into China’s state support for electric vehicle makers. The European Commission, the EU’s executive arm, launched the probe in October to establish whether Chinese EV prices are artificially low because of subsidies and so hurt European carmakers. - - The Commission said its investigation had provisionally concluded that the EV industry in China “benefits from unfair subsidization, which is causing a threat of economic injury.” - - The sharp increase in tariffs highlights the more protective stance on trade with China that Brussels and Washington are adopting. Western officials are concerned that jobs and strategically important industries could be wiped out by cheap Chinese imports. The EU is also probing China’s support for wind turbine companies and solar panel suppliers. - - But the bloc has to strike a balance between protecting its industry and delivering on commitments to green its economy, which include a ban on the sale of new gasoline and diesel cars from 2035. - - “The EU’s green transition cannot be based on unfair imports at the expense of EU industry,” the Commission said in a statement Wednesday. - - It has applied differing levels of new duties to three major EV makers. BYD — which jostles with Tesla (TSLA) for position as the world’s biggest seller of battery EVs — has the lowest additional duty, at 17.1%. - - Geely, which owns Sweden’s Volvo, has been hit with an extra 20% tariff and SAIC with another 38.1%. As for other EV makers in China, those that cooperated with the EU investigation will see a 21% additional duty, while those that did not will be subject to an extra 38.1% duty. - - Tesla, which manufactures many of its cars in China, could receive an “individually calculated duty rate” at a later stage following a request made by the carmaker, the Commission said. - - Europe is the main destination for Chinese EV exports. Last year, the value of EU imports of electric cars from China stood at $11.5 billion, up from just $1.6 billion in 2020, according to Rhodium Group, a think tank. - - The new EV tariffs are likely to kick off intense negotiations between Beijing and Brussels aimed at averting a damaging trade war. The EU must decide by November whether to adopt the tariffs permanently. - - Beijing’s reaction to the tariffs “could lead to a trade war (with Europe), which would be devastating for a region that is still heavily dependent on Chinese-dominated supply chains in order to achieve its lofty climate goals,” Will Roberts, head of automotive research at consultancy Rho Motion, said in a statement Friday. - - Responding to the EU announcement, China’s Ministry of Commerce accused the bloc of “creating and escalating trade tensions” and said the move would hurt European consumers. It vowed in a statement to take “all necessary measures to firmly defend the legitimate rights and interests of Chinese companies.” - - There are also risks for European automakers. Many of them manufacture cars in China and then sell them in Europe, a set-up that will be more costly as a result of the higher tariffs. In addition, Germany’s carmakers rely heavily on China for sales, and retaliation by Beijing could make life harder for them. - - According to Rho Motion, Tesla accounted for more than half of the battery EVs imported by the EU last year, with Volvo and Renault’s Dacia brand also supplying significant volumes. BYD has only 1.5% of the EU market so far this year but is targeting 5% next year, Roberts at Rho Motion told CNN. - - “Beijing is likely to use both carrots and sticks to build opposition to the Commission’s case, in the hopes that a sufficiently large group of (EU) member states… emerges in order to block permanent duties,” analysts at Rhodium Group said in a recent research paper. - - For example, China could raise tariffs on EU vehicle imports to 25%, from their current level of 15%, or target other European exports such as wine and luxury goods, according to Rhodium. - - Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers. - - Alternatively, Beijing could pledge investment into EU countries and promise better market access in China for EU firms, the Rhodium analysts wrote. - - EU member states, meanwhile, are divided on the tariffs. While France and Spain are in favor, politicians and auto industry executives in Germany are firmly opposed. - - Speaking Saturday, German Chancellor Olaf Scholz said protectionism and isolation “ultimately just makes everything more expensive and everyone poorer.” He added: “We do not close our markets to foreign companies because we do not want that for our companies either.” - - Still, the pressure to protect European automakers grew more urgent last month after Chinese EVs were all but priced out of the United States. President Joe Biden quadrupled import duties on Chinese EVs to 100% as part of a sweeping package of tariffs on goods from China, including semiconductors and batteries. - - Given the competing priorities that European officials had to consider, they could not be as heavy-handed in their approach. - - In a report in April, Rhodium Group analysts said duties of 40%-50% would probably be necessary “to make the European market unattractive for Chinese EV exporters.” For BYD, tariffs would likely have to be even higher to be effective, they added. - - Chinese manufacturers should be able to absorb some of the additional tariffs “into their padded profit margins,” commented Roberts of Rho Motion. - - China’s EV makers could also find ways around the tariffs. BYD pledged in December to open a factory in Hungary, an EU member. That would be BYD’s first plant for passenger cars in Europe. - - Olesya Dmitracova and Mark Thompson in London, and Shawn Deng and Alex Stambaugh in Hong Kong contributed reporting. This story has been updated with additional information.",CNN,12/06/2024,"['The European Union has hiked tariffs on electric cars imported from China, drawing a rebuke from Beijing, which sees the bloc as a vital and growing market for its auto industry.', 'Additional tariffs of between 17.4% and 38.1% will be applied on top of the existing EU duty of 10%, according to a statement from the European Commission.', 'That takes the highest overall rate to close to 50%.', 'The provisional decision follows an investigation into China’s state support for electric vehicle makers.', 'The European Commission, the EU’s executive arm, launched the probe in October to establish whether Chinese EV prices are artificially low because of subsidies and so hurt European carmakers.', 'The Commission said its investigation had provisionally concluded that the EV industry in China “benefits fromunfair subsidization, which is causing athreat of economic injury.”', 'The sharp increase in tariffs highlights the more protective stance on trade with China that Brussels and Washington are adopting.', 'Western officials are concerned that jobs and strategically important industries could be wiped out by cheap Chinese imports.', 'The EU is also probing China’s support for wind turbine companies and solar panel suppliers.', 'But the bloc has to strike a balance between protecting its industry and delivering on commitments to green its economy, which include a ban on the sale of new gasoline and diesel cars from 2035.', '“The EU’s green transition cannot be based on unfair imports at the expense of EU industry,” the Commission said in a statement Wednesday.', 'It has applied differing levels of new duties to three major EV makers.', 'BYD — which jostles with Tesla (TSLA) for position as the world’s biggest seller of battery EVs — has the lowest additional duty, at 17.1%.', 'Geely, which owns Sweden’s Volvo, has been hit with an extra 20% tariff and SAIC with another 38.1%.', 'As for other EV makers in China, those that cooperated with the EU investigation will see a 21% additional duty, while those that did not will be subject to an extra 38.1% duty.', 'Tesla, which manufactures many of its cars in China, could receive an “individually calculated duty rate” at a later stage following a request made by the carmaker, the Commission said.', 'Europe is the main destination for Chinese EV exports.', 'Last year, the value of EU imports of electric cars from China stood at $11.5 billion, up from just $1.6 billion in 2020, according to Rhodium Group, a think tank.', 'The new EV tariffsare likely to kick off intense negotiations between Beijing and Brussels aimed at averting a damaging trade war.', 'The EU must decide by November whether to adopt the tariffs permanently.', 'Beijing’s reaction to the tariffs “could lead to a trade war (with Europe), which would be devastating for a region that is still heavily dependent on Chinese-dominated supply chains in order to achieve its lofty climate goals,” Will Roberts, head of automotive research atconsultancy RhoMotion, said in a statement Friday.', 'Responding to the EU announcement, China’s Ministry of Commerce accused the bloc of “creating and escalating trade tensions” and said the move would hurt European consumers.', 'It vowed in a statement to take “all necessary measures to firmly defend the legitimate rights and interests of Chinese companies.”', 'There are also risks for European automakers.', 'Many of them manufacture cars in China and then sell them in Europe, a set-up that will be more costly as a result of the higher tariffs.', 'In addition, Germany’s carmakers rely heavily on China for sales, and retaliation by Beijing could make life harder for them.', 'According to Rho Motion, Tesla accounted for more than half of the battery EVs imported by the EU last year, with Volvo and Renault’s Dacia brand also supplying significant volumes.', 'BYD has only 1.5% of the EU market so far this year but is targeting 5% next year, Roberts at Rho Motion told CNN.', '“Beijing is likely to use both carrots and sticks to build opposition to the Commission’s case, in the hopes that a sufficiently large group of (EU) member states… emerges in order to block permanent duties,” analysts at Rhodium Group said in a recent research paper.', 'For example, China could raise tariffs on EU vehicle imports to 25%, from their current level of 15%, or target other European exports such as wine and luxury goods, according to Rhodium.', 'Beijing has already launched an anti-dumping investigation into brandy imported from the EU and could impose tariffs that would hit French cognac makers.', 'Alternatively, Beijing could pledge investment into EU countries and promise better market access in China for EU firms, the Rhodium analysts wrote.', 'EU member states, meanwhile, are divided on the tariffs.', 'While France and Spain are in favor, politicians and auto industry executives in Germany are firmly opposed.', 'Speaking Saturday, German Chancellor Olaf Scholz said protectionism and isolation “ultimately just makes everything more expensive and everyone poorer.”', 'He added: “We do not close our markets to foreign companies because we do not want that for our companies either.”', 'Still, the pressure to protect European automakers grew more urgent last month after Chinese EVs were all but priced out of the United States.', 'President Joe Biden quadrupled import duties on Chinese EVs to 100% as part of a sweeping package of tariffs on goods from China, including semiconductors and batteries.', 'Given the competing priorities that European officials had to consider, they could not be as heavy-handed in their approach.', 'In a report in April, Rhodium Group analysts said duties of 40%-50% would probably be necessary “to make the European market unattractive for Chinese EV exporters.”', 'For BYD, tariffs would likely have to be even higher to be effective, they added.', 'Chinese manufacturers should be able to absorb some of the additional tariffs “into their padded profit margins,” commented Roberts of Rho Motion.', 'China’s EV makers could also find ways around the tariffs.', 'BYD pledged in December to open a factory in Hungary, an EU member.', 'That would be BYD’s first plant for passenger cars in Europe.', 'Olesya Dmitracova and Mark Thompson in London, and Shawn Deng and Alex Stambaugh in Hong Kong contributed reporting.', 'This story has been updated with additional information.']",-0.0282420793917314,"Still, the pressure to protect European automakers grew more urgent last month after Chinese EVs were all but priced out of the United States.","Beijing’s reaction to the tariffs “could lead to a trade war (with Europe), which would be devastating for a region that is still heavily dependent on Chinese-dominated supply chains in order to achieve its lofty climate goals,” Will Roberts, head of automotive research atconsultancy RhoMotion, said in a statement Friday.",-0.1294340465379798,"Last year, the value of EU imports of electric cars from China stood at $11.5 billion, up from just $1.6 billion in 2020, according to Rhodium Group, a think tank.","In a report in April, Rhodium Group analysts said duties of 40%-50% would probably be necessary “to make the European market unattractive for Chinese EV exporters.”",2024-06-16 -"Investigation underway into rare, unsafe airliner roll experienced by a Boeing 737 Max",https://edition.cnn.com/2024/06/14/business/boeing-737-max-dutch-roll-investigation/index.html," - Updated - 3:46 PM EDT, Fri June 14, 2024 - ","Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight. - - The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight. - - There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA. The report said the crew “regained control,” and the plane safely landed. - - But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.” The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder. - - It is unclear if the damaged unit led to or was a result of the roll. - - The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state. Boeing did not immediately comment to CNN. - - Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation. - - The incident occurred almost three weeks ago and was added to a FAA database this week. There were 175 passengers and six crew onboard, according to the airline. - - The NTSB confirmed it has opened an investigation into this incident. Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.” - - Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten. - - In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt. It said the flaw would prevent the pilots from controlling the rudder using foot pedals. Authorities have not said if this condition and the Dutch roll last month are related. - - Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight. - - “It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN. “It’s a very uncomfortable movement and you feel the tail swinging around.” - - While moving forward in flight, airplanes can pivot along three axis: Nose up and down, known as pitch; wings dipping down or raising up, known as roll; and the tail shifting left or right, known as yaw. - - Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers. These large aircraft also have yaw dampers that make small adjustments throughout flight. - - In the Dutch roll, the plane both rolls and yaws excessively. Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said. - - She said airline pilots train for scenarios where their yaw dampers fail. They could take an aircraft simulator to a high altitude and turn off the yaw damper. - - “Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said. - - To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air. Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input. - - But the forces can be powerful. In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls. - - “The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”",CNN,14/06/2024,"['Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.', 'The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight.', 'There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA.', 'The report said the crew “regained control,” and the plane safely landed.', 'But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”', 'The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder.', 'It is unclear if the damaged unit led to or was a result of the roll.', 'The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state.', 'Boeing did not immediately comment to CNN.', 'Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.', 'The incident occurred almost three weeks ago and was added to a FAA database this week.', 'There were 175 passengers and six crew onboard, according to the airline.', 'The NTSB confirmed it has opened an investigation into this incident.', 'Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.”', 'Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten.', 'In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt.', 'It said the flaw would prevent the pilots from controlling the rudder using foot pedals.', 'Authorities have not said if this condition and the Dutch roll last month are related.', 'Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight.', '“It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN.“It’s a very uncomfortable movement and you feel the tail swinging around.”', 'While moving forward in flight, airplanes can pivot along three axis:Nose up and down, known as pitch; wings dipping down or raising up, known as roll;and the tail shifting left or right, known as yaw.', 'Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers.', 'These large aircraft also have yaw dampers that make small adjustments throughout flight.', 'In the Dutch roll, the plane both rolls and yaws excessively.', 'Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said.', 'She said airline pilots train for scenarios where their yaw dampers fail.', 'They could take an aircraft simulator to a high altitude and turn off the yaw damper.', '“Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said.', 'To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air.', 'Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input.', 'But the forces can be powerful.', 'In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls.', '“The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “', 'Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”']",-0.0812634494333823,Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.,But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”,-0.9796725809574128,,"Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.",2024-06-16 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-06-16 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-06-16 -Instant ramen ‘fire noodles’ are too spicy for this country,https://edition.cnn.com/2024/06/12/business/spicy-instant-ramen-recall-denmark-hnk-intl/index.html," - Published - 7:38 AM EDT, Wed June 12, 2024 - ","Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy. - - The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x Spicy and Hot Chicken Stew was so high that it could poison consumers, the Danish Veterinary and Food Administration said in a statement issued Tuesday. - - Capsaicin is a spicy, naturally occurring chemical found in chili peppers. - - South Korean noodle giant Samyang, which developed the ramen, said on Wednesday that the products were not being recalled because of quality issues. - - It’s “because it is so spicy that it could cause problems,” a spokesperson told CNN. “This is the first time they’ve been subject to (a) recall for this reason.” - - The Danish regulator didn’t say whether the recall was prompted by a specific incident. It urged consumers to discard the products or return them to where they were purchased. - - Instant noodles originated in Japan but have become a staple across Asia. Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food. - - Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm. - - Buldak, which means “fire chicken” in Korean, was developed by Samyang’s chief executive, Kim Jung-soo, a housewife who married into the family business and eventually took over. She told The Wall Street Journal in January that she was inspired by a spicy stir fry. - - The noodles were launched in 2012 and popularized on social media by influencers touting the “Fire Noodles Challenge.” In March, rapper Cardi B reignited the craze with a TikTok video. - - According to taste testers, the original buldak ramen scored around 4,000 on the Scoville scale, which is roughly equivalent to the heat of jalapeños. Some of the new flavors may be two or three times as hot, they have said.",CNN,12/06/2024,"['Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy.', 'The level of capsaicin found in Buldak Hot Chicken Ramen 3x Spicy, Buldak Hot Chicken Ramen 2x Spicy and Hot Chicken Stew was so high that it could poison consumers, the Danish Veterinary and Food Administration said in a statement issued Tuesday.', 'Capsaicin is a spicy, naturally occurring chemical found in chili peppers.', 'South Korean noodle giant Samyang, which developed the ramen, said on Wednesday that the products were not being recalled because of quality issues.', 'It’s “because it is so spicy that it could cause problems,” a spokesperson told CNN. “', 'This is the first time they’ve been subject to (a) recall for this reason.”', 'The Danish regulator didn’t say whether the recall was prompted by a specific incident.', 'It urged consumers to discard the products or return them to where they were purchased.', 'Instant noodles originated in Japan but have become a staple across Asia.', 'Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food.', 'Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm.', 'Buldak, which means “fire chicken” in Korean, was developed by Samyang’s chief executive, Kim Jung-soo, a housewife who married into the family business and eventually took over.', 'She told The Wall Street Journal in January that she was inspired by a spicy stir fry.', 'The noodles were launched in 2012 and popularized on social media by influencers touting the “Fire Noodles Challenge.”', 'In March, rapper Cardi B reignited the craze with a TikTok video.', 'According to taste testers, the original buldak ramen scored around 4,000 on the Scoville scale, which is roughly equivalent to the heat of jalapeños.', 'Some of the new flavors may be two or three times as hot, they have said.']",-0.045554786773837,"Samyang was the country’s third largest noodle maker after Ottugi and Nongshim by sales in 2022, the latest year for which information was available, according to NICE Information Service, a research firm.","Samyang bills itself as having produced South Korea’s first instant ramen in 1963, when the country was mired in post-war poverty and needed cheap, accessible sources of food.",-0.9121580521265664,,Three varieties of “fire chicken” instant ramen noodles popularized by a viral internet challenge have been recalled in Denmark after they were deemed to be too spicy.,2024-06-15 -‘Just too burnt out’: Child care crisis crunches providers,https://edition.cnn.com/2024/06/15/business/child-care-crisis-providers/index.html," - Published - 9:00 AM EDT, Sat June 15, 2024 - ","For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work. - - “Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “And my response is always, ‘Well, I can’t do what you do either! So I’ll watch your kids and you go do that, because I’m better at this.’” - - Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks. She announced in May that she’s closing her doors before the end of August. - - “It’s emotionally and physically and mentally demanding,” Elandt says. “There’s not benefits. The pay is not anywhere near what it should be. And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.” - - Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike. - - Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia. The report looked at care for an infant and a 4-year-old. - - While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable. Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food. Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge. - - “If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says. - - The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay. Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. - - “It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure. - - The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies. Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic. - - The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.” - - An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act. Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat. - - Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden. She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff. In some cases the higher wages weren’t enough. A few months ago, she says, one of her employees left for a factory: “She needed to make a living.” - - The stresses of managing a tight budget and dealing with staff turnover have taken a toll.Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged. In May, she made the formal announcement that this summer would be the center’s last. - - The news left families and staff scrambling. Higgins, who is also a parent at My First Adventure, described the moment as “panic.” - - As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge. - - “It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “I think everybody was really aware during the height of the pandemic, with the critical workers and things like that. I don’t know if that has started to fade out for people.” - - The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership. As it stands, My First Adventure is expected to close in July. - - This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher. Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions. - - “We are literally shaping tomorrow’s youth,” Higgins says. “I think that needs to start being reflected in compensation and policies and where government funding is being directed.”",CNN,15/06/2024,"['For the past eight years in the small city of Waupaca, Wisconsin, Susan Elandt has been a fixture for dozens of families — taking care of their children, some as early as 4:45 a.m., so they can get to work.', '“Most of our parents, when they drop off, are like, ‘I could never do what you do,’” Elandt says. “', 'And my response is always, ‘Well, I can’t do what you do either!', 'So I’ll watch your kids and you go do that, because I’m better at this.’”', 'Elandt is the owner and operator of My First Adventure Child Care and Preschool — but only for a few more weeks.', 'She announced in May that she’s closing her doors before the end of August.', '“It’s emotionally and physically and mentally demanding,” Elandt says. “', 'There’s not benefits.', 'The pay is not anywhere near what it should be.', 'And we don’t get a lot of professional recognition in the community, either, for the value of the work that we do.”', 'Like so many centers around the country, My First Adventure is feeling the squeeze of a child care crisis that’s crippling parents and providers alike.', 'Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latestannual report.', 'Placing two kids at a child care center cost at least 25% more than the typical rent, on average, in every state.', 'And the tab exceeded annualtypicalmortgage payments in 45 states, plus the District of Columbia.', 'The report looked at care for an infant and a 4-year-old.', 'While the price of keeping children in care is sky-high, the burden of running these centers is equally unsustainable.', 'Running a center comes with a battery of expenses, from hefty insurance policies to “consumables” such as art supplies, books and food.', 'Tight margins don’t leave much room for the biggest cost — staff — which is also Elandt’s biggest challenge.', '“If you were going to pay your teachers what they were worth even based off of basic education and experience, you would need to charge the parents so much that you would have no children in your center, no could parents afford care,” she says.', 'The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high.', 'The costs are also compounded by the additional expenses of fielding high staff turnover, due in large part to the low wages that these employers can afford to pay.', 'Over the years, Elandt has struggled to keep employees because she can’t compete with what’s offered by local factories or even fast food restaurants.', 'The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics.', '“It’s very humbling to go to work every day and pass Help Wanted signs at McDonald’s and Hardee’s, and they are paying more money than child care providers can afford to pay their staff,” says Lydia Higgins, a teacher at My First Adventure.', 'The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.', 'Elandt was able to bring up her starting salaries from $8 or $9 an hour to $12 and reward more experienced teachers, attracting and retaining enough employees to keep the center open during the depths of the pandemic.', 'The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children.', 'But it expired last September, leaving many centers facing what’s been dubbed “the child care cliff.”', 'An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.', 'Multiple states have beefed up their child care investments in recent years, but it’s generally not enough to keep all providers afloat.', 'Elandt has implemented several rate increases for parents in the last year, knowing it would increase their burden.', 'She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.', 'In some cases the higher wages weren’t enough.', 'A few months ago, she says, one of her employees left for a factory: “She needed to make a living.”', 'The stresses of managing a tight budget and dealing with staff turnover have taken a toll.', 'Elandt first started thinking seriously about leaving her business two years ago and tried to sell, but no viable option emerged.', 'In May, she made the formal announcement that this summer would be the center’s last.', 'The news left families and staff scrambling.', 'Higgins, who is also a parent at My First Adventure, described the moment as “panic.”', 'As more and more child care providers and parents find themselves struggling through this crisis, she hopes bigger picture solutions will emerge.', '“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “', 'I think everybody was really aware during the height of the pandemic, with the critical workers and things like that.', 'I don’t know if that has started to fade out for people.”', 'The city of Waupaca is actively trying to help facilitate a sale to keep the facility or re-open it under new ownership.', 'As it stands, My First Adventure is expected to close in July.', 'This fall will find Elandt in the public school system, where she’s found joy the past few months working as a substitute teacher.', 'Both she and Higgins say they plan to get more involved in activism to raise the voices of child care workers and fight for better conditions.', '“We are literally shaping tomorrow’s youth,” Higgins says. “', 'I think that needs to start being reflected in compensation and policies and where government funding is being directed.”']",0.1751321793448637,"An analysis last year by The Century Foundation projected that more than 70,000 child care programs could close and about 3.2 million children could lose their spots due to the end of the federal child care stabilization grant program, which Congress approved as part of the 2021 American Rescue Plan Act.","“It needs to start with an awareness of how critical this crisis is, and not just from the parents that are terrified and suffering through it, but as a whole picture as a whole country,” Higgins said. “",-0.2154543910707746,"The child care industry got a brief boost during the Covid-19 pandemic, as federal funding allowed providers to give their staff much-needed raises and bonuses, as well as cover their rent, mortgages and utilities and buy personal protective equipment and other supplies.",She felt there was no other choice because a return to pre-pandemic salaries would likely mean losing her whole staff.,2024-06-15 -Roche alleges counterfeit diabetes medical devices were sold on Amazon,https://www.cnbc.com/2024/06/10/roche-counterfeit-diabetes-medical-devices.html,2024-06-10T19:01:20+0000,"In this articleRoche, one of the world's largest biotech companies, said ""dangerous counterfeits"" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States.Roche accused manufacturers and sellers based in India of selling counterfeit versions of its Accu-Chek devices, which are used to test blood glucose levels. The company made the claim in a federal lawsuit unsealed late Friday.""Patients know that Roche's Accu-Chek medical devices are safe, sterile and accurate,"" the complaint said. Roche said the counterfeit test strips are expired or nearly expired products that are repackaged with counterfeit labels bearing Roche's registered U.S. trademarks and fake expiration dates.It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.""The lawsuit, which was filed under seal in May in the U.S. District Court in the Brooklyn borough of New York City, named as defendants four companies and their executives, all based in India. Roche is seeking unspecified damages.After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products. The Amazon stores that were offering the products for sale appear to have been taken down.Amazon is not a defendant in the case, but Roche claims that as part of the alleged scheme all of the counterfeit products sent to the U.S. were stored at Amazon warehouses across the country, including in Brooklyn. The products are typically shipped to businesses and individuals within 48 hours of landing at Amazon facilities.""Amazon currently has untold numbers of these dangerous counterfeit medical devices in its warehouses across the country, ready to deliver to unsuspecting American consumers at the click of a button,"" the complaint said.Roche said the counterfeiters participated in Amazon's Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ... Amazon, in return, receives a sizable percentage of the revenue from the counterfeit sales,"" according to the complaint.An Amazon spokesman told CNBC that the company has ""a zero tolerance policy for counterfeit products. We have proactive measures in place to prevent counterfeit products from being listed and continuously monitor our store. If we identify an issue, we act quickly to protect customers and brands, including removing counterfeit listings and blocking accounts, and collaborating with brands and law enforcement to protect our customers from bad actors attempting to abuse our store.""The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.The defendants are JMD Enterprises doing business as DKY Store USA, JMD Enterprises founder and owner Dileep Kumar Yadav, JMD International, JMD International owner and founder Abhishek Jain, Medical Hub_USA Store, Medical Hub_USA owner Ratnakar Sharma, Authentic Indian Store and Authentic Indian Store owner Atikur Rahman.CNBC contacted the defendants for comment, but has not yet received responses.A spokesperson for Roche told CNBC that the company does not comment on ongoing lawsuits.Roche's Accu-Chek diabetes care medical devices, used by millions of patients, include Accu-Chek glucometers, blood glucose test strips and lancets. The company's blood glucose test strips and lancets can be purchased with or without a prescription at pharmacies and online marketplaces, including Amazon.The lancets are specialized disposable needles used to draw blood for testing.The packaging on the counterfeit devices at the center of the lawsuit includes a misspelling of the name of the product as well as fake serial numbers and expiration dates, according to the complaint.The company launched an investigation into the counterfeits in late March when a whistleblower reached out with information, according to the complaint. Its investigators then purchased the products from the three Amazon stores listed in the complaint, the lawsuit said.As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product. In March, a different customer said the lancets she purchased from DKY were fake.Roche did not specify how long the counterfeit items were being sold on Amazon, or how many ultimately made it to customers.The issue of potentially dangerous glucose test strips emerged in 2019 when the Food and Drug Administration warned against using test strips from a previous owner or ones not authorized for sale in the U.S. At the time, the FDA said faulty test strips were being sold via online marketplaces and individual sellers.In 2011, Johnson & Johnson said it found counterfeit versions of its glucose test strips in India.CNBC in March reported findings of an investigation into stolen items sold on Amazon's marketplace via organized retail crime rings. The report centered on millions of dollars of items stolen from Ulta Beauty that were being sold for more than a decade on the platform.And in 2023, a CNBC investigation revealed how counterfeiters illegally alter prescription medications, which are then funneled into a gray market supply chain for resale to pharmacies and ultimately to patients.",CNBC,10/06/2024,"['In this articleRoche, one of the world\'s largest biotech companies, said ""dangerous counterfeits"" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States.', 'Roche accused manufacturers and sellers based in India of selling counterfeit versions of its Accu-Chek devices, which are used to test blood glucose levels.', 'The company made the claim in a federal lawsuit unsealed late Friday.', '""Patients know that Roche\'s Accu-Chek medical devices are safe, sterile and accurate,"" the complaint said.', ""Roche said the counterfeit test strips are expired or nearly expired products that are repackaged with counterfeit labels bearing Roche's registered U.S. trademarks and fake expiration dates."", 'It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.', '""The lawsuit, which was filed under seal in May in the U.S. District Court in the Brooklyn borough of New York City, named as defendants four companies and their executives, all based in India.', 'Roche is seeking unspecified damages.', ""After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products."", 'The Amazon stores that were offering the products for sale appear to have been taken down.', 'Amazon is not a defendant in the case, but Roche claims that as part of the alleged scheme all of the counterfeit products sent to the U.S. were stored at Amazon warehouses across the country, including in Brooklyn.', 'The products are typically shipped to businesses and individuals within 48 hours of landing at Amazon facilities.', '""Amazon currently has untold numbers of these dangerous counterfeit medical devices in its warehouses across the country, ready to deliver to unsuspecting American consumers at the click of a button,"" the complaint said.', 'Roche said the counterfeiters participated in Amazon\'s Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ...', 'Amazon, in return, receives a sizable percentage of the revenue from the counterfeit sales,"" according to the complaint.', 'An Amazon spokesman told CNBC that the company has ""a zero tolerance policy for counterfeit products.', 'We have proactive measures in place to prevent counterfeit products from being listed and continuously monitor our store.', 'If we identify an issue, we act quickly to protect customers and brands, including removing counterfeit listings and blocking accounts, and collaborating with brands and law enforcement to protect our customers from bad actors attempting to abuse our store.', '""The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.', 'The defendants are JMD Enterprises doing business as DKY Store USA, JMD Enterprises founder and owner Dileep Kumar Yadav, JMD International, JMD International owner and founder Abhishek Jain, Medical Hub_USA Store, Medical Hub_USA owner Ratnakar Sharma, Authentic Indian Store and Authentic Indian Store owner Atikur Rahman.', 'CNBC contacted the defendants for comment, but has not yet received responses.', 'A spokesperson for Roche told CNBC that the company does not comment on ongoing lawsuits.', ""Roche's Accu-Chek diabetes care medical devices, used by millions of patients, include Accu-Chek glucometers, blood glucose test strips and lancets."", ""The company's blood glucose test strips and lancets can be purchased with or without a prescription at pharmacies and online marketplaces, including Amazon."", 'The lancets are specialized disposable needles used to draw blood for testing.', 'The packaging on the counterfeit devices at the center of the lawsuit includes a misspelling of the name of the product as well as fake serial numbers and expiration dates, according to the complaint.', 'The company launched an investigation into the counterfeits in late March when a whistleblower reached out with information, according to the complaint.', 'Its investigators then purchased the products from the three Amazon stores listed in the complaint, the lawsuit said.', ""As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product."", 'In March, a different customer said the lancets she purchased from DKY were fake.', 'Roche did not specify how long the counterfeit items were being sold on Amazon, or how many ultimately made it to customers.', 'The issue of potentially dangerous glucose test strips emerged in 2019 when the Food and Drug Administration warned against using test strips from a previous owner or ones not authorized for sale in the U.S. At the time, the FDA said faulty test strips were being sold via online marketplaces and individual sellers.', 'In 2011, Johnson & Johnson said it found counterfeit versions of its glucose test strips in India.', ""CNBC in March reported findings of an investigation into stolen items sold on Amazon's marketplace via organized retail crime rings."", 'The report centered on millions of dollars of items stolen from Ulta Beauty that were being sold for more than a decade on the platform.', 'And in 2023, a CNBC investigation revealed how counterfeiters illegally alter prescription medications, which are then funneled into a gray market supply chain for resale to pharmacies and ultimately to patients.']",-0.0805894667901319,"Roche said the counterfeiters participated in Amazon's Fulfillment by Amazon program, through which ""Amazon agrees to receive, store, and accept orders on behalf of the counterfeiters; to pick, pack, and ship the counterfeit goods; and to provide customer service for the counterfeiters. ...","It warned that the counterfeit devices are ""likely to give false or inaccurate measurements of blood glucose levels, putting patients at risk of severe and life-threatening complications, such as hyperglycemia and over- or under-dosages of insulin.",-0.979553997516632,,"As recently as May, a customer left a negative review on Amazon's platform, complaining that he had ordered test strips from the DKY Store but received a different product.",2024-06-15 -Ford ends EV dealership program that required hefty investment to sell electric models,https://www.cnbc.com/2024/06/13/ford-ends-ev-dealership-program.html,2024-06-13T14:13:20+0000,"In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks. That optimism, however, has not panned out as expected.EV sales for Ford and other automakers are growing but at a far slower pace than many expected. That's led to automakers delaying or canceling future electric vehicles and investments.""The world has changed,"" Marin Gjaja, chief operating officer of Ford's Model E electric vehicle business, said Thursday during a media briefing. ""The growth has slowed down.""Gjaja said the Model e Dealership Program, which included about half of Ford's 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers. The company had faced lawsuits from dealers over the program.Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks. ""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""We think it's going to help us grow our sales.""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.Gjaja said those initial estimates were high. He said dealers who participated in the full program invested about $600,000 on average.",CNBC,13/06/2024,"['In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.', 'The ""EV-certified"" program was announced in September 2022 by Ford CEO Jim Farley amid high demand for the vehicles, low supplies and industry-wide optimism for all-electric cars and trucks.', 'That optimism, however, has not panned out as expected.', 'EV sales for Ford and other automakers are growing but at a far slower pace than many expected.', ""That's led to automakers delaying or canceling future electric vehicles and investments."", '""The world has changed,"" Marin Gjaja, chief operating officer of Ford\'s Model E electric vehicle business, said Thursday during a media briefing. ""', 'The growth has slowed down.', '""Gjaja said the Model e Dealership Program, which included about half of Ford\'s 2,800 U.S. dealers, ""is being sunset"" as the market undergoes changing conditions and amid conversations with dealers.', 'The company had faced lawsuits from dealers over the program.', 'Instead, Ford will open EV sales to all of its dealers in an attempt to grow sales of its all-electric cars and trucks.', '""It allows us to open EV sales and service to more dealers,"" Gjaja said. ""', ""We think it's going to help us grow our sales."", '""Dealers will need to make some investments for charging, training and other EV-related expenses, but not as much as they did under the prior program, which included expected investments of between $500,000 and $1.2 million.', 'Gjaja said those initial estimates were high.', 'He said dealers who participated in the full program invested about $600,000 on average.']",0.0858025423727656,"That optimism, however, has not panned out as expected.",In this articleFord Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs.,0.5176552004284329,We think it's going to help us grow our sales.,The growth has slowed down.,2024-06-15 -"FDA advisors recommend Eli Lilly's Alzheimer's drug donanemab, paving way for approval",https://www.cnbc.com/2024/06/10/fda-advisors-recommend-eli-lilly-alzheimers-drug-donanemab.html,2024-06-10T21:08:08+0000,"In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year.The FDA typically follows the recommendations of its advisory panels but is not required to do so. If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai.An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease. But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks. ""There's a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday. Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.Eli Lilly is ""pleased"" with the panel's recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.The recommendation follows snags Eli Lilly faced in bringing the treatment to market.The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment.It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year. The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it. The FDA appears to be reviewing donanemab more cautiously after its polarizing approval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai. The agency granted accelerated approval to that treatment despite a negative recommendation from an advisory panel.Biogen and Eisai have since dropped the drug. Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease. Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it. But neither of the treatments are cures.Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal. Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug. Biogen and Eisai signaled in April that they are seeing adoption pick up.In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins. That is a method known as intravenous infusion. Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted. He expects donanemab to rake in $500 million in sales by the end of the decade. Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia.Those results are comparable to those seen with Leqembi. Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity. People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study. Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau.Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau. The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug's effect. Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold. By the end of the trial, 60% of participants on donanemab were able to stop treatment.Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding. The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms. They included headache, confusion, dizziness, nausea and in rare cases, seizures.Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.If donanemab is approved, FDA staff said they expect the drug's label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4. They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.That is consistent with Leqembi's approval label.There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff. That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.",CNBC,10/06/2024,"[""In this articleA panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year."", 'The FDA typically follows the recommendations of its advisory panels but is not required to do so.', ""If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind currently on the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai."", ""An approval would expand the now limited treatment options for the more than 6 million Americans who have Alzheimer's, the fifth-leading cause of death for adults over 65.In a first vote, 11 committee members unanimously said available data on the drug shows that it is effective at treating Alzheimer's patients at the early stages of the mind-wasting disease."", 'But several advisors noted that more data is needed on donanemab in Black and Hispanic patients, among other groups.', ""In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks."", '""There\'s a huge unmet medical need here that hopefully can be addressed,"" temporary committee member Sarah Dolan said during a meeting on Monday.', 'Dolan is a consultant for the non-profit organization Critical Path Institute, which aims to improve the drug development process.', 'Eli Lilly is ""pleased"" with the panel\'s recommendation and looks forward to bringing the treatment to patients, Mark Mintun, group vice president of neuroscience research and development at Eli Lilly, said in a statement.', 'The recommendation follows snags Eli Lilly faced in bringing the treatment to market.', ""The FDA in March called a last-minute meeting of an advisory panel to further review the safety and efficacy of Eli Lilly's drug in a late-stage trial, just weeks before the agency's deadline to rule on the treatment."", 'It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.', 'The FDA also rejected the drug in January last year, saying it had insufficient data to greenlight it.', ""The FDA appears to be reviewing donanemab more cautiously after its polarizingapproval of the ill-fated Alzheimer's drug, Aduhelm, from Biogen and Eisai."", 'The agencygrantedaccelerated approvaltothat treatment despite a negative recommendation from an advisory panel.', 'Biogen and Eisai have since dropped the drug.', ""Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease."", ""Both drugs are monoclonal antibodies that target amyloid plaque in the brain, considered a hallmark of Alzheimer's, to slow the progression of the disease in patients at the early stages of it."", 'But neither of the treatments are cures.', 'Drugs that target and clear amyloid plaque can also cause brain swelling and bleeding in patients, which in some cases can be severe and even fatal.', ""Three patients who took Eli Lilly's drug in a late-stage trial died from severe cases of those side effects, called amyloid-related imaging abnormalities, or ARIA.A host of hurdles has slowed Leqembi's rollout since its approval in July, including the steps needed to diagnose Alzheimer's and monitor and handle the weekly infusions required with the drug."", 'Biogen and Eisai signaled in April that they are seeing adoption pick up.', 'In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly\'s drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.', 'That is a method known as intravenous infusion.', 'Leqembi is currently administered through twice-monthly infusions, but Biogen expects to launch an injectable version of the drug next year, Risinger noted.', 'He expects donanemab to rake in $500 million in sales by the end of the decade.', ""Eli Lilly's phase three trial on more than 1,700 patients found that donanemab slowed the progression of Alzheimer's by 29% compared to a placebo after around 18 months, based on a traditional tool used to measure the severity of dementia."", 'Those results are comparable to those seen with Leqembi.', ""Patients in Eli Lilly's phase three trial needed to test positive on a PET scan for amyloid plaque and another protein in the brain called tau, which is thought to be a marker of Alzheimer's severity."", 'People with no or very low levels of tau were not included in the primary analysis of the trial because researchers thought their disease was less likely to progress during the study.', ""Eli Lilly's trial mainly focused on patients with low-to-medium levels of tau, who appeared to benefit more from the treatment than those with high tau."", 'Eli Lilly argued that patients should be tested for amyloid plague to be eligible for the drug, but not for tau.', 'The company said it tested for tau in the trial to enroll patients whose condition was expected to worsen, which made it more likely for the study to ""clearly determine"" the drug\'s effect.', 'Most advisors agreed that tau tests should not be required to access donanemab because it would likely restrict the population who can benefit from the drug.', '""From a very practical perspective, I think this would be not a wise thing to to have as a barrier,"" said temporary committee member Dr. Kathleen Poston, a professor in neurology, neurological sciences and neurosurgery at Stanford University, during the meeting on Monday.', ""Patients taking Eli Lilly's drug in the trial were eligible to switch over to a placebo if amyloid levels in their brains fell below a certain threshold."", 'By the end of the trial, 60% of participants on donanemab were able to stop treatment.', 'Dolan said allowing patients to discontinue the drug when enough amyloid has been cleared could be a ""motivational factor"" for patients to comply with their infusions and regular testing.', 'Around 24% of trial participants who took donanemab experienced brain swelling, while 31% experienced brain bleeding.', 'The majority of those ARIA cases were mild to moderate, as 6% of participants with brain swelling and 1% with brain bleeding experienced symptoms.', 'They included headache, confusion, dizziness, nausea and in rare cases, seizures.', 'Serious cases occurred in 1.5% of patients with brain swelling and less than 1% with brain bleeding.', 'If donanemab is approved, FDA staff said they expect the drug\'s label to include a strong ""boxed"" warning about the risks of brain swelling and bleeding, especially for people with two copies of a gene called ApoE4.', 'They also expect recommendations for MRIs to monitor for those side effects in patients, among other strategies.', ""That is consistent with Leqembi's approval label."", ""There were 19 deaths in participants on donanemab, including the three attributed to Eli Lilly's drug, within the 18-month trial, according to a final analysis of data by FDA staff."", ""That compares to 16 deaths in patients on placebo, reflecting a smaller imbalance in the number of deaths between people who took donanemab and those who didn't.""]",0.0600911008433513,"It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.",Leqembi and donanemab are milestones in the treatment of Alzheimer's after three decades of failed efforts to develop medicines that can fight the fatal disease.,0.2095230562346322,Biogen and Eisai signaled in April that they are seeing adoption pick up.,"In a note Sunday, Leerink Partners analyst David Risinger said he expects limited commercial adoption of donanemab relative to Leqembi because Eli Lilly's drug has ""more safety liabilities"" and will be less convenient, since it is administered once a month through the veins.",2024-06-15 -Here's what's next for Paramount after Skydance deal is stopped in its tracks,https://www.cnbc.com/2024/06/12/paramount-skydance-deal-ends-what-happens-next.html,2024-06-13T11:46:33+0000,"In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry.Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward.Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins. The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.""It's very difficult for a trio of CEOs to work on a long term basis. It's almost unheard of. How will they make decisions on allocating capital and strategic priorities?"" said Jessica Reif-Ehrlich, an analyst at BofA Securities.On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward.""So, what does this mean for Paramount? While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process.The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement."" National Amusements also voiced its support for Paramount's current leadership.While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.In recent days, other potential bidders for National Amusements emerged, according to reports. Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved.""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday's memo to employees. ""And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.""Though the company reached financial terms on the proposed deal with Skydance, Paramount's new leadership team outlined a plan at last week's shareholder meeting in the event a transaction didn't take place.The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.The memo noted more would be discussed at a company town hall June 25. The leaders are also expected to flesh out more details of the plan during August's earnings call.The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year. Paramount has $14.6 billion in debt.In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan.""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation.In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""But this is a very difficult situation. Uncertainty is the worst thing.""Whether it's these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year. A weak advertising market could also weigh on the company in the coming months.",CNBC,13/06/2024,"[""In this articleNational Amusements stopped merger discussions between Paramount Global and Skydance this week — throwing into question what's next for the legacy media giant during a tumultuous period for the industry."", 'Paramount, like many of its peers, is grappling with how to make streaming a profitable business as it faces peak competition, a rapidly shrinking universe of cable-TV customers and a slowdown in the advertising market that has especially weighed on the bundle.', ""Now it's up to the three leaders at the helm of Paramount to figure out the company's best path forward."", 'Bob Bakish stepped down from the top post in April and was replaced by the so-called Office of the CEO: CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins.', 'The executives are trying to steer Paramount out of a rocky period while working under a structure that few companies have tried.', '""It\'s very difficult for a trio of CEOs to work on a long term basis.', ""It's almost unheard of."", 'How will they make decisions on allocating capital and strategic priorities?""', 'said Jessica Reif-Ehrlich, an analyst at BofA Securities.', ""On Wednesday, the leaders sent a memo to Paramount employees saying they would focus on their plan to turn the company around after the proposed deal didn't move forward."", '""So, what does this mean for Paramount?', 'While the Board will always remain open to exploring strategic alternatives that create value for shareholders, we continue to focus on executing the strategic plan we unveiled last week during the Annual Shareholder Meeting, which we are confident will set the stage for growth for Paramount,"" the trio said in the memo that CNBC obtained Wednesday.', ""After months of negotiations in a sale process that included various twists, National Amusements informed Paramount's special committee and the buying consortium that included Skydance and private equity firms RedBird Capital and KKR minutes before a vote that it was stopping the sale process."", 'The move came a little more than a week after Skydance and Paramount had agreed to financial terms of a merger that would have been valued at $8 billion.', 'The deal had been awaiting signoff from Redstone, who owns National Amusements, the controlling shareholder of 77% of class A Paramount shares.', 'In a statement Tuesday, National Amusements said that while it had ""agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement.""', ""National Amusements also voiced its support for Paramount's current leadership."", 'While those near the deal have offered conflicting reasons for why it was called off, a person familiar with the matter said Redstone turned down the offer after Skydance lowered the amount of money she would receive with the altered bid in order to shift some of it to the class B shareholders.', 'In the last iteration of the deal, Redstone would have received $2 billion for National Amusements and Skydance would have bought out roughly 50% of class B shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', 'In recent days, other potential bidders for National Amusements emerged, according to reports.', 'Redstone plans to explore selling her controlling stake in Paramount Global without an associated transaction involving merging studio assets, as Skydance had proposed.', 'While Apollo Global Management and Sony had formally expressed interest in ""a full acquisition"" of the company for $26 billion, Redstone favored a deal that kept Paramount whole, which was not the plan for these bidders, CNBC previously reported.', ""Paramount's Office of the CEO acknowledged the company faces more uncertainty after the deal dissolved."", '""We recognize that the last several months have not been easy as we manage through ongoing change and speculation,"" the leadership trio said in Wednesday\'s memo to employees. ""', 'And, we should all expect some of this to undoubtedly continue as the media industry and our business continue to evolve.', '""Though the company reached financial terms on the proposed deal with Skydance, Paramount\'s new leadership team outlined a plan at last week\'s shareholder meeting in the event a transaction didn\'t take place.', 'The strategic priorities that were highlighted included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs through measures such as layoffs and divesting noncore assets.', 'The memo noted more would be discussed at a company town hall June 25.', ""The leaders are also expected to flesh out more details of the plan during August's earnings call."", ""The executives set those priorities with an eye toward lowering Paramount's debt load and returning the company to investment grade status after it was downgraded earlier this year."", 'Paramount has $14.6 billion in debt.', ""In the memo to employees Wednesday, Paramount's leadership team said it would focus on executing this plan."", '""Work is already underway, as we focus on three pillars: Transforming our streaming strategy to accelerate its path to profitability; Streamlining the organization and reducing non-content costs; Optimizing our asset mix, by divesting some of our businesses to help pay down our debt,"" the leaders said in the memo.', ""Redstone has backed the trio of CEOs since they took over in late April, and voiced that support before introducing them during the shareholders' meeting presentation."", ""In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations."", 'But the unorthodox nature of the CEO office — which Redstone acknowledged during the shareholders call — has industry analysts wondering if the plan can succeed.', '""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. ""', 'But this is a very difficult situation.', 'Uncertainty is the worst thing.', '""Whether it\'s these CEOs putting this plan to work, or an acquirer that takes over, they have to contend with various challenges, said Robert Fishman, an analyst at MoffettNathanson, in a research note.', ""Among those, Paramount's earnings are driven by its traditional TV networks, which are primarily general entertainment — possibly the most challenged content in media, as Disney's Bob Iger said last year."", 'A weak advertising market could also weigh on the company in the coming months.']",0.1552936129402598,"""The company needs to focus on a couple of things, like fixing the balance sheet so it gets flexibility back and focus on the businesses that really profit; also, possibly selling assets or changing the asset mix,"" said Reif-Ehrlich. """,Uncertainty is the worst thing.,0.0349052796761194,"In Wednesday's memo, the leadership once again emphasized growing content and franchises while also focusing on slashing costs and lowering debt, a priority the executives outlined during their presentations.",A weak advertising market could also weigh on the company in the coming months.,2024-06-15 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-06-15 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-06-15 -RV sales are picking up. That’s a good sign for the economy,https://edition.cnn.com/2024/06/16/economy/rv-sales-economy/index.html," - Published - 10:30 AM EDT, Sun June 16, 2024 - ","At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by. - - The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance. - - That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016. Bookings are light; plus, the people who are traveling are taking shorter trips, she said. - - “We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “I actually think it has a lot to do with people having less discretionary spending available.” - - She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.” - - On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism. - - The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether. - - When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. - - RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering. - - “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.” - - RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval. - - So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said. - - Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green. - - “We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call. - - The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet. - - “We’ve been able to get a little creative with it,” Shneyder said. “Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.” - - And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some. - - “We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “And so now we’ve rented it out for them.” - - Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said. - - The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said. - - “Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic. This ate into 2022 and 2023 sales.” - - RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association. - - By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000. - - Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA. In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said. - - Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows. - - Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data. That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion. - - Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added. - - The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units. That’s expected to grow next year to between 374,200 to 408,600. - - The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said. - - “We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.” - - To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana. - - The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.” Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart. - - “And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart. - - Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows. - - When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain. - - In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns. Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%. - - It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time. - - “Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “However, we haven’t seen any of the large job cuts we did during the Great Recession. [The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.” - - At the dealer level, there’s optimism as well. - - Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium. - - Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs. - - Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said. - - “Election years are always off, so we’ll be happy when we get through November,” he said. “Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past. It really doesn’t matter who wins, just as long as it’s done.” - - Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said. - - “You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.” - - He added: “Here in Elkhart it does seem business as usual. Could business be better? Of course it could. But could it be worse? It sure could.”",CNN,16/06/2024,"['At this time of year, a reservation with Chill RV Rentals isn’t usually the easiest to come by.', 'The Los Angeles-based company’s 16-camper fleet is typically booked solid, with the RVs oftentimes reserved weeks in advance.', 'That’s just not the case this year, said Nika Shneyder, who started the recreational vehicle rental business with her father in 2016.', 'Bookings are light; plus, the people who are traveling are taking shorter trips, she said.', '“We’re definitely seeing demand for RV travel slowed down compared to previous years, and I don’t think it has to do with people coming out [the pandemic] and going on different kinds of trips,” Shneyder said. “', 'I actually think it has a lot to do with people having less discretionary spending available.”', 'She added: “I think we’re going to pick up this summer, in July and August for sure; but historically speaking, we would have been busier by now.”', 'On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.', 'The industry appears to be not only getting back into gear but also settling into a familiar groove: its role as an economic bellwether.', 'When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research.', 'RVs are typically large-dollar items for individuals and families, costing about $12,000 to $15,000 for a small, pop-up, tow-behind trailer, to some that run well north of $250,000 or more for a motorhome or luxury offering.', '“People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “', 'It’s so sensitive to interest rate changes, which often precede a downturn.”', 'RV shipments, a proxy for sales, are starting to pick back up after having bottomed out last year — an aftershock of a wild, pandemic-era upheaval.', 'So, if business is on the upswing — especially at a time when the dual forces of elevated inflation and high interest rates are serving as headwinds — that could bode well for the economy as a whole, he said.', 'Still, while that economic indicator doesn’t appear to be flashing red right now, it likely will take interest rates falling from their current 23-year highs before it turns a solid green.', '“We think [interest rate cuts] will offer a little bit of a trigger to consumers becoming more active again,” Michael J. Happe, president and chief executive officer of Winnebago Industries, said during the company’s March earnings call.', 'The cost of borrowing is so high right now that Chill RV hasn’t been able to add new vehicles to its fleet.', '“We’ve been able to get a little creative with it,” Shneyder said. “', 'Instead of purchasing our own inventory, because the rates are so high, we’ve opened up a consignment program where we rent out privately owned RVs and do a profit-share.”', 'And that consignment well is pretty deep right now, a reflection of the pandemic-era #YOLO, #vanlife purchases that just didn’t pan out for some.', '“We find people who during Covid went out and bought an RV for themselves, and they’re just sort of done with it, they no longer use it,” she said. “', 'And so now we’ve rented it out for them.”', 'Five of the 16 vehicles in Chill RV’s fleet are on consignment, she said.', 'The big spike in sales seen during the pandemic turned the entire industry on its head and knocked its economic barometer out of whack, Hicks said.', '“Potential buyers moved to purchase RVs earlier than they’d originally planned,” he told CNN. “', 'So, some folks who were planning on buying one later jumped at the chance to hit low borrowing rates in the wake of the pandemic.', 'This ate into 2022 and 2023 sales.”', 'RV shipments rocketed north of 600,000 in 2021, a nearly 40% jump from the year before.', 'They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.', 'By 2023, orders fell back to Earth — hard — clocking in at a mere 313,000.', 'Dealers had to work through inventory while also navigating a steep drop-off in demand, said Monika Geraci, spokesperson for the RVIA.', 'In addition to sales being pulled forward during the pandemic, other purchases were put on the blocks because of inflation and high interest rates, she said.', 'Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.', 'Consumers spent nearly $38 billion in the category of “other recreational vehicles,” which excludes pleasure boats and aircraft, according to Personal Consumption Expenditures data.', 'That’s down from $42.9 billion and $44.1 billion in 2021 and 2022, respectively, but above 2019 spending of $31 billion.', 'Now, the industry appears to be back at a point of equilibrium, where shipments, production and sales at the retail level are more closely aligned, she added.', 'The latest forecast from RVIA, released earlier this month, projects shipments to land in the range of 329,900 to 359,100 for 2024, with a median of 344,000 units.', 'That’s expected to grow next year to between 374,200 to 408,600.', 'The moderate increase is based on the expectation that interest rates are going to start coming down and inflation will cool further to the point people have the financial wherewithal to make the purchase, she said.', '“We do know from our surveys that the desire to own an RV and purchase an RV is still there and still is high,” she said. “', 'Inflation, interest rates do just hit people’s pocketbooks and make it a little bit harder to follow through on those desires.”', 'To fully get a sense of how the RV industry (and, in turn, the broader economy, is faring), one need not look further than Elkhart, Indiana.', 'The Northern Indiana city that sits 15 miles east of South Bend is known as the “RV Capital of the World.”', 'Many of the leading manufacturers and suppliers have facilities there, resulting in the vast majority of the RVs on US roads being made in Elkhart.', '“And even the ones that are not made here are still made here, because all their parts are made here,” said David Titus, co-owner of International RV Wholesalers in Elkhart.', 'Manufacturing and transportation account for more than 60% of all the jobs held in Elkhart, making the county one of the country’s biggest production hubs, Bureau of Labor Statistics data shows.', 'When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.', 'In March 2009, during the Great Recession, Elkhart County’s jobless rate hit 20.6% and spiked to 30.6% in April 2020, the height of the pandemic lockdowns.', 'Flash-forward to January 2023, when shipments had fallen off due to oversupply and a pullback in demand, and unemployment jumped to 5.6% from 3%.', 'It’s since moved back down and in April 2024 stood at 3.8%, a tick below the national rate of 3.9% at the time.', '“Employment in this sector is ebbing a bit, which is consistent with slower sales,” said Ball State’s Hicks. “', 'However, we haven’t seen any of the large job cuts we did during the Great Recession. [', 'The unemployment rate in Elkhart] suggests optimism by RV producers that the market will strengthen in the coming months.”', 'At the dealer level, there’s optimism as well.', 'Customers are still driving on the lot looking to buy an RV, International RV Wholesalers’ Titus said, adding that banks are still happy to lend the money — albeit at more of a premium.', 'Some customers are leaning toward something a little more modest because of interest rates, he said, adding that they’re also planning shorter trips closer to home — versus the 3,000- or 4,000-mile cross-country haul — because of inflation and fuel costs.', 'Complicating matters further is a cyclical factor: It’s an election year, and like clockwork, some people appear to be holding off and waiting to see what happens, he said.', '“Election years are always off, so we’ll be happy when we get through November,” he said. “', 'Obviously, this is a little more of a contentious election than normal, putting it nicely, than what we’ve seen in the past.', 'It really doesn’t matter who wins, just as long as it’s done.”', 'Still, sales are softer than they were during the pandemic boom, but they’re trending better than last year and above pre-pandemic times, Titus said.', '“You drive through town, everybody’s busy; you can’t go to a restaurant at 6 o’clock and expect to get a table; you go to the store, and it’s busy,” Titus said. “', 'I’m looking at a four-lane road in front of my place right now, and it’s bumper-to-bumper traffic.”', 'He added: “Here in Elkhart it does seem business as usual.', 'Could business be better?', 'Of course it could.', 'But could it be worse?', 'It sure could.”']",0.1770719017981792,"On the retail sales side, there are similar stories at play: Businesses are seeing softer, but improving, demand; consumers are showing some hesitancy but still are spending some; and industry members are exhibiting cautious, but growing, optimism.","When there’s been a downshift in the industry, Elkhart (and its unemployment rate) has reflected that pain.",0.1214437454174726,"That’s expected to grow next year to between 374,200 to 408,600.","Consumer spending on RVs did fall off last year, as compared to 2021 and 2022, inflation-adjusted Commerce Department data shows.",2024-06-15 -Trader Joe’s tiny coolers are selling like hot cakes. Why and how do products go viral?,https://edition.cnn.com/2024/06/15/business/why-do-small-trader-joes-bags-keep-going-viral/index.html," - Published - 3:00 AM EDT, Sat June 15, 2024 - ","A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag. Right away, he was on the lookout. When he went to London on a trip, he even deputized his mom to keep an eye out for the bags. - - After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding. Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack). Others may not be so lucky. The mini-coolers have already been listed for several times that price on eBay. - - Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral. They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire. - - Before social media, it took a lot more for a niche item to hit. “You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school. But now “you can have it all happen instantly across the whole country.” - - This isn’t even the first time little Trader Joe’s bags have gone viral. In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out. - - Most brands don’t see their products take off this way, especially not twice in a row. On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun. - - But Trader Joe doesn’t have much of a social media presence. The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items — which may well have been popular on their own — even more successful. These creators are playing a key role in the worlds of retail marketing. - - Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday. Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said. Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative. Her channels are popular enough for her to earn payment from TikTok. - - She’s not the only one posting this type of content. Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores. It had more than 54,000 followers on the social platform on Friday. Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings. - - Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity. - - “What is up with these tote bags? Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said. - - “We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “We had no inkling that they would be this exciting, this quickly, for so many customers. We had actually hundreds of thousands of bags come in and go out within a week.” - - This time, with the brightly colored coolers, the brand seemed more prepared. “Consider yourself fairly warned: these Totes are totally destined to become the next craze!” screams a product description on the grocery chain’s site. - - Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items. A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer. - - If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items. Some people might just decide to pick one up on their next grocery trip because they saw it online. Others may seek the item out specifically, rushing to stores before they sell out. - - “When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.” - - That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted. - - “You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said. Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public. - - These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added. - - For some, the treasure hunt aspect may be part of the fun — especially when it ends not only with the coveted item, but a chance to post evidence of success online. - - Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett. His videos on Instagram and TikTok are mostly devoted to pop culture and Disney. But he likes the chain, and he likes to post about what he buys there. - - “You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “It’s always a surprise.” - - The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that. - - “You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said. That’s why, she thinks, the branded bags have been such a hit. “People want a little piece of Trader Joe’s to carry around with them.”",CNN,15/06/2024,"['A few months ago, Thaddeus Yan heard that Trader Joe’s was preparing to sell a fairly mundane new item: A miniature insulated cooler bag.', 'Right away, he was on the lookout.', 'When he went to London on a trip, he even deputized his mom to keep an eye out for the bags.', 'After months of waiting, Yan drove to a Trader Joe’s at 7:30 one morning this month and bought as many as he could, given the store’s purchasing limit: Two in bright teal, and one in hot pink, both with prominent TJ’s branding.', 'Yan, a social media content creator, paid $3.99 for each of the small bags (too tiny for his Stanley cup, he noted in a TikTok video on his “thaddybearz” account — but big enough for a six pack).', 'Others may not be so lucky.', 'The mini-coolers have already been listed for several times that price on eBay.', 'Yan is part of a throng of influencers who have been changing, and even accelerating, the way certain retail products go viral.', 'They’re not only rushing out to buy as many items as they can, but spreading the word on their popular social channels, where trends catch fire.', 'Before social media, it took a lot more for a niche item to hit. “', 'You’d have to see people in public settings,” so trends were much more localized, said Colin Campbell, an associate professor of marketing at the University of San Diego’s Knauss business school.', 'But now “you can have it all happen instantly across the whole country.”', 'This isn’t even the first time little Trader Joe’s bags have gone viral.', 'In March, shoppers went wild over Trader Joe’s mini canvas tote bags, which rapidly sold out.', 'Most brands don’t see their products take off this way, especially not twice in a row.', 'On those rare occasions, companies make hay: They talk to fans online and build new marketing campaigns, squeezing as much as possible out of that moment in the sun.', 'But Trader Joe doesn’t have much of a social media presence.', 'The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.', 'These creators are playing a key role in the worlds of retail marketing.', 'Talia Heskett, for example, has more than 134,000 followers on TikTok and about 146,000 on Instagram, plus roughly 68,000 on Facebook for her “Trader Joe’s Talia” accounts, as of Friday.', 'Because Trader Joe’s doesn’t boast much of an official online presence, “I’ve kind of taken on that role” with those pages, she said.', 'Heskett is a fan of the grocery chain, and has turned her interest in the brand into something lucrative.', 'Her channels are popular enough for her to earn payment from TikTok.', 'She’s not the only one posting this type of content.', 'Christy Vetere runs her own TikTok account, “Trader Joe’s and Target Finds,” where she spotlights products from the stores.', 'It had more than 54,000 followers on the social platform on Friday.', 'Heskett, Vetere and others keep shoppers up to date on TJ’s news, tapping into an existing audience of fans to bolster their own followings.', 'Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.', '“What is up with these tote bags?', 'Like, they’re a thing that we didn’t plan for them to be,” said Tara Miller, co-host of the company’s Inside Trader Joe’s podcast, in a March episode. “', 'I’m still a little perplexed about how quickly that excitement went to kind of frenzy,” she said.', '“We thought we bought enough of these mini canvas totes to last for several weeks, maybe a whole month,” said Matt Sloan, who hosts the podcast with Miller. “', 'We had no inkling that they would be this exciting, this quickly, for so many customers.', 'We had actually hundreds of thousands of bags come in and go out within a week.”', 'This time, with the brightly colored coolers, the brand seemed more prepared. “', 'Consider yourself fairly warned: these Totes are totally destined to become the next craze!”', 'screams a product description on the grocery chain’s site.', 'Apart from the prediction on its website, Trader Joe’s hasn’t said much about the swift-selling seasonal items.', 'A Trader Joe’s representative told CNN that the brand is always looking for new products its customers will like — and that it plans to offer more of the mini insulated bags this summer.', 'If you search “Trader Joe’s mini insulated bag,” right now you’ll be served a seemingly endless stream of videos featuring the brightly colored items.', 'Some people might just decide to pick one up on their next grocery trip because they saw it online.', 'Others may seek the item out specifically, rushing to stores before they sell out.', '“When you can get something that not everyone else has it makes you look cool, makes you look like an insider,” said Jonah Berger, marketing professor at the University of Pennsylvania’s Wharton School and author of “Contagious: Why Things Catch On.”', 'That desire doesn’t only apply to high-priced or extremely rare luxury items, he noted.', '“You often see … trends and things catching on, or going viral, in what I would describe as low-cost public consumables,” Berger said.', 'Think Stanley cups, Owala water bottles and Nike socks — all items that can be seen in public.', 'These items “can be affordable luxuries, and can allow people to either show their distinction or show that they’re part of a certain group,” Berger added.', 'For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.', 'Yan, who drove to Trader Joe’s at 7:30 am to find the bags, doesn’t run a Trader Joe’s-focused account like Vetere and Heskett.', 'His videos on Instagram and TikTok are mostly devoted to pop culture and Disney.', 'But he likes the chain, and he likes to post about what he buys there.', '“You never know what they’re going to drop, it could be some random, really cool thing that everyone might be interested” in seeing, or getting for themselves, he said. “', 'It’s always a surprise.”', 'The chain’s unusually loyal fanbase is eager for more Trader Joe’s branded merchandise, TikToker Heskett said, but Trader Joe’s doesn’t offer much of that.', '“You can’t buy a Trader Joe’s hat, you can’t buy a Trader Joe’s sweatshirt,” she said.', 'That’s why, she thinks, the branded bags have been such a hit. “', 'People want a little piece of Trader Joe’s to carry around with them.”']",0.1861896278490253,"For some, the treasure hunt aspect may be part of the fun —especially when it ends not only with the coveted item, but a chance to post evidence of success online.",Consider yourself fairly warned: these Totes are totally destined to become the next craze!”,0.7747427523136139,"The company staying (mostly) mum has allowed content creators, particularly on TikTok, to fill the vacuum, making the items —which may well have been popular on their own — even more successful.","Last March, when TJ’s canvas mini totes went viral, the chain appeared baffled by their popularity.",2024-06-15 -America’s top central banker says the job market is back to normal. Is that right?,https://edition.cnn.com/2024/06/16/economy/stocks-week-ahead-us-job-market-normal/index.html," - Published - 7:30 AM EDT, Sun June 16, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. But that assertion may not be exactly right, according to ZipRecruiter’s chief economist. - - “Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year. - - The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show. The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022. - - Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic. The rate at which Americans are quitting their jobs is also back to pre-pandemic levels. - - It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020. Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.” - - However, the 2024 job market differs from 2019 in a few key ways. And those factors may not change anytime soon. - - Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. - - (This interview has been edited for length and clarity.) - - Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? - - Julia Pollak: No, I would say that this is not quite the same normal. It’s a new normal, and there are some key differences. We’re still adding employees faster than 2019. But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower. - - Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs. Now, is that necessarily a bad thing? It’s not clear. - - Why is the job market slower now? - - High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking. They’re not hiring new grads at the same rate, they seem quite reluctant to do so. It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates. - - The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs. People are eager to hang on to their job that gives them flexibility. I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition. - - Unlike in 2019, there is more remote work and more flexible work. Remote and hybrid work are like five times bigger than they were before the pandemic. That’s here to stay. - - But what about this persistently wide gap between job openings and the number of unemployed folks seeking work? - - I think there’s reason to believe the labor market is actually less tight now than it was in 2019. The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count. - - You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey]. - - It seems like we are systematically over-counting openings by more and more each year for some reason. - - Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports. - - President Emmanuel Macron called the snap elections a week ago after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - Read more here. - - Monday: Earnings from Lennar and La-Z-Boy. Fed officials Patrick Harker and Lisa Cook deliver remarks. The New York Fed releases its Empire State Manufacturing Index for June. - - Tuesday: The Reserve Bank of Australia announces its latest interest rate decision. The US Commerce Department releases May figures on retail sales and reports business inventories in April. The Federal Reserve releases May data on industrial production. Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks. Japan releases May data on trade flows. - - Wednesday: The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June. - - Thursday: Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s. The Bank of England announces its latest interest rate decision. The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter. The US Labor Department reports on the number of new applications for unemployment in the week ending June 15. The Philadelphia Fed releases its Manufacturing Index for June. Richmond Fed President Tom Barkin delivers remarks. - - Friday: Earnings from CarMax. S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors. The National Association of Realtors reports existing home sales in May.",CNN,16/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society.', 'But that assertion may not be exactly right, according to ZipRecruiter’s chief economist.', '“Overall, a broad set of indicators suggests that conditions in the labor market have returned to about where they stood on the eve of the pandemic, relatively tight but not overheated,” Federal Reserve Chair Jerome Powell said in a news conference Wednesday after the central bank signaled that it plans to cut interest rates just once this year.', 'The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.', 'The ratio of job openings to the number of unemployed job seekers, a measure Powell frequently cites to illustrate the job market’s tightness, is now 1.2 to one, down from 2 to 1 in the spring of 2022.', 'Worker filings for unemployment benefits fell to a 53-year low in 2022, reflecting an usually tight job market, but claims have trended upward since and are now roughly back to levels seen in the five years before the pandemic.', 'The rate at which Americans are quitting their jobs is also back to pre-pandemic levels.', 'It’s true that today’s US job market is running at a slower pace than it did in the immediate aftermath of the pandemic, when the economy staged a stunning comeback from the brief recession in 2020.', 'Powell said it’s just a matter of a continued “unwinding of the pandemic-related distortions to both supply and demand.”', 'However, the 2024 job market differs from 2019 in a few key ways.', 'And those factors may not change anytime soon.', 'Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market.', '(This interview has been edited for length and clarity.)', 'Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal?', 'Julia Pollak: No, I would say that this is not quite the same normal.', 'It’s a new normal, and there are some key differences.', 'We’re still adding employees faster than 2019.', 'But under the surface, the labor market is different in that it’s slower, so the amount of churn, dynamism, hiring, firing, everything is slower.', 'Companies are slower to fire, they’re also slower to hire, and workers are slower to switch jobs.', 'Now, is that necessarily a bad thing?', 'It’s not clear.', 'Why is the job market slower now?', 'High interest rates [currently at a 23-year high] are holding back investments and causing businesses to sort of take a wait-and-see approach that is disincentivizing risk taking.', 'They’re not hiring new grads at the same rate, they seem quite reluctant to do so.', 'It’s a slower, stay-in-place economy, partly because of risk aversion in the face of high interest rates.', 'The quit rate being lower also suggests that there are fewer better alternatives for people than their current jobs.', 'People are eager to hang on to their job that gives them flexibility.', 'I think companies did a lot of soul searching during and after the pandemic amid labor shortages to meaningfully improve compensation, benefits and working conditions, and that also may have reduced attrition.', 'Unlike in 2019, there is more remote work and more flexible work.', 'Remote and hybrid work are like five times bigger than they were before the pandemic.', 'That’s here to stay.', 'But what about this persistently wide gap between job openings and the number of unemployed folks seeking work?', 'I think there’s reason to believe the labor market is actually less tight now than it was in 2019.', 'The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.', 'You see this sort of gap widening between openings and hires and quits and everything else within [the Job Openings and Labor Turnover Survey].', 'It seems like we are systematically over-counting openings by more and more each year for some reason.', 'Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy, my colleague Olesya Dmitracova reports.', 'President Emmanuel Macron called the snap elections a week ago after his party lost to thefar right in a vote for EU lawmakers, a shock move thatrattledmarkets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.', 'Read more here.', 'Monday:Earnings from Lennar and La-Z-Boy.', 'Fed officials Patrick Harker and Lisa Cook deliver remarks.', 'The New York Fed releases its Empire State Manufacturing Index for June.', 'Tuesday:The Reserve Bank of Australia announces its latest interest rate decision.', 'The US Commerce Department releases May figures on retail sales and reports business inventories in April.', 'The Federal Reserve releases May data on industrial production.', 'Fed officials Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee deliver remarks.', 'Japan releases May data on trade flows.', 'Wednesday:The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for June.', 'Thursday:Earnings from Accenture, Kroger, Darden Restaurants, Jabil and Conn’s.', 'The Bank of England announces its latest interest rate decision.', 'The US Commerce Department releases May data on housing starts and building permits and separately reports on the current account deficit in the first quarter.', 'The US Labor Department reports on the number of new applications for unemployment in the week ending June 15.', 'The Philadelphia Fed releases its Manufacturing Index for June.', 'Richmond Fed President Tom Barkin delivers remarks.', 'Friday:Earnings from CarMax.', 'S&P Global releases June business surveys gauging economic activity in the US manufacturing and services sectors.', 'The National Association of Realtors reports existing home sales in May.']",0.0119642752697554,"There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — whichreached 5.5%of GDP last year.,-0.0309852843101208,"The Fed chief said that the job market has come into “a better balance” over the past few years as the central bank aggressively lifted rates from near-zero starting in March 2022, which does coincide with what official government statistics show.",Why is the job market slower now?,2024-06-15 -Markets fear the French far right could trigger a financial crisis,https://edition.cnn.com/2024/06/14/investing/france-financial-crisis-elections/index.html," - Published - 10:24 AM EDT, Fri June 14, 2024 - ","Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy. - - President Emmanuel Macron called the snap elections Sunday after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. - - There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. - - Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it. A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5% of GDP last year. - - “If Le Pen calls the shots in parliament and pursues major parts of her expensive fiscal and protectionist ‘France first’ agenda, the result could be a Liz Truss-style financial crisis,” Berenberg economists wrote in a note Friday, adding that, for now, this was “a serious risk, not a forecast.” - - The British pound and UK government bonds sold off sharply in September 2022 after former Prime Minister Truss unveiled plans to increase borrowing to pay for tax cuts. Mortgage rates soared as investors demanded much higher premiums for owning UK debt. Truss resigned soon after, becoming the shortest-serving prime minister in British history. - - The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire. - - Asked Friday on franceinfo, a French radio station, whether the political turmoil triggered by Macron’s decision to call the snap elections could lead to a financial crisis, Le Maire replied “yes.” - - He noted that France now has to pay a higher interest rate than Portugal — one of the countries bailed out during the European debt crisis more than a decade ago — to borrow from investors. “This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said. - - Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries. In May, S&P downgraded the country’s long-term credit score to AA-, citing the “deterioration of (its) budgetary position,” though it still thought France had ample capacity to repay its debts. The agency said it expected the budget deficit to narrow to 3.5% of GDP in 2027, well above the 2.9% targeted by the current government. - - Markets are already roiled by the prospect of political upheaval. The yield, or the interest rate sought by investors, on France’s benchmark 10-year government bonds stood at 3.17% on Friday afternoon in Europe, compared with 3.15% for the Portuguese equivalent. - - In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017. The spread was widening even further Friday. - - Stock markets haven’t escaped. On Friday, France’s benchmark of 40 leading stocks fell much more than similar German and pan-European indexes. The euro has sagged this week too. - - An Elabe opinion poll for CNN affiliate BFMTV and La Tribune Dimanche showed Wednesday that Macron’s centrist bloc was on track to come only third in the first round of the elections on June 30, far behind the National Rally and an alliance of left-wing parties. - - The National Rally has promised to raise public spending and slash VAT on electricity and fuel. Le Maire said Friday that markets’ response to such measures would be: “I’m sorry but you don’t have the means to afford these expenses.” - - Likewise, speaking on a webinar Thursday, Frank Gill, a senior specialist in European sovereign ratings at S&P Global Ratings, said the policies advocated by the National Rally “could further drag on public finances” and “would be a consideration for the sovereign rating.” - - And Moody’s said in a note Monday that the snap elections increased the risks to fiscal consolidation in France, “a credit negative.” - - The European Central Bank “would have the means to prevent any genuine crisis” in the French government bond market, a Berenberg note said earlier this week. But “akin to the sequence of events in the erstwhile euro crisis, the ECB may only deploy its instruments — or announce that it could do so — if and when the country in question has returned to sounder fiscal policies.” - - Joseph Ataman in Paris and Mark Thompson in London contributed reporting.",CNN,14/06/2024,"['Investors are worried France could be facing a financial crisis if the political center collapses in upcoming parliamentary elections, leaving far-right populists in charge of the European Union’s second-biggest economy.', 'President Emmanuel Macron called the snap elections Sunday after his party lost to thefar right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds.', 'There has been widespread speculation since then that the National Rally,the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.', 'Such an outcome could make it harder to reduce France’s huge government debt pile, equal to 110.6% of gross domestic product at the end of last year, and could even add to it.', 'A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5%of GDP last year.', '“If Le Pen calls the shots in parliament and pursues major parts of her expensive fiscal and protectionist ‘France first’ agenda, the result could be a Liz Truss-style financial crisis,” Berenberg economists wrote in a note Friday, adding that, for now, this was “aserious risk, not a forecast.”', 'The British pound and UK government bonds sold off sharply in September 2022 after former Prime Minister Truss unveiled plans to increase borrowing to pay for tax cuts.', 'Mortgage rates soared as investors demanded much higher premiums for owning UK debt.', 'Truss resigned soon after, becoming the shortest-serving prime minister in British history.', 'The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire.', 'Asked Friday on franceinfo, a French radio station, whether the political turmoil triggered by Macron’sdecision to call the snap elections could lead to a financial crisis,Le Mairereplied “yes.”', 'He noted that France now has to pay a higher interest rate than Portugal — one of the countries bailed out during the European debt crisis more than a decade ago — to borrow from investors. “', 'This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said.', 'Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries.', 'In May, S&Pdowngradedthe country’s long-term credit score to AA-, citing the “deterioration of (its) budgetary position,” though it still thought France had ample capacity to repay its debts.', 'The agency said it expected the budget deficit to narrow to 3.5% of GDP in 2027, well above the 2.9% targeted by the current government.', 'Markets are already roiled by the prospect of political upheaval.', 'The yield, or the interest rate sought by investors, on France’s benchmark 10-year government bonds stood at 3.17% on Friday afternoon in Europe, compared with 3.15% for the Portuguese equivalent.', 'In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017.', 'The spread was widening even further Friday.', 'Stock markets haven’t escaped.', 'On Friday, France’s benchmark of 40 leading stocks fell much more than similar German and pan-European indexes.', 'The euro has sagged this week too.', 'An Elabe opinion poll for CNN affiliate BFMTV and La Tribune Dimanche showed Wednesday that Macron’s centrist bloc was on track to come only third in the first round of the elections on June 30, far behind the National Rally and an alliance of left-wing parties.', 'The National Rally has promised to raise public spending and slash VAT on electricity and fuel.', 'Le Maire said Friday that markets’ response to such measures would be: “I’m sorry but you don’t have the means to afford these expenses.”', 'Likewise, speaking on a webinar Thursday, Frank Gill, a senior specialist in European sovereign ratings at S&P Global Ratings, said the policies advocated by the National Rally “could further drag on public finances” and “would be a consideration for the sovereign rating.”', 'And Moody’s said in a note Monday that the snap elections increased the risks to fiscal consolidation in France, “a credit negative.”', 'The European Central Bank “would have the means to prevent any genuine crisis” in the French government bond market, a Berenberg note said earlier this week.', 'But “akin to the sequence of events in the erstwhile euro crisis, the ECB may only deploy its instruments —or announce that it could do so—if and when the country in question has returned to sounder fiscal policies.”', 'Joseph Ataman in Paris and Mark Thompson in London contributed reporting.']",-0.1471924624032987,"There has been widespread speculation since then that the National Rally,the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc.",A bitterly divided parliament would also struggle to cut the budget deficit — the gap between government spending and tax receipts — which reached 5.5%of GDP last year.,-0.5014126747846603,"In another sign of traders’ jitters, the premium they demand to hold French government bonds instead of the ultra-safe AAA-rated German equivalents rose Thursday to its highest level since 2017.",The euro has sagged this week too.,2024-06-15 -"WNBA reports record TV viewership for 2024 season, highest game attendance in 26 years",https://www.cnbc.com/2024/06/10/wnba-reports-record-viewership-highest-game-attendance-years-caitlin-clark.html,2024-06-10T19:52:49+0000,"The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday.The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release. Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers.About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league. More than half those games were sold out.The WNBA attributed much of the growing fan engagement to its powerful rookie class. Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.The league also reported more diverse viewership. The number of people tuning in to games on TV grew 60% year over year among people of color. Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",CNBC,10/06/2024,"[""The growing popularity of women's basketball did not stop with the NCAA tournament — fans are showing up and tuning in at record levels for Women's National Basketball Association games, too, the league reported Monday."", ""The beginning of the 28th season, which started May 14, has been the most-watched on TV networks in the league's history, according to a release."", ""Across ABC, ESPN, ESPN2 and CBS, the WNBA is averaging 1.3 million viewers per game, tripling last season's average of 462,000 viewers."", 'About 400,000 fans attended games in May, the most first-month attendees in 26 years, according to the league.', 'More than half those games were sold out.', 'The WNBA attributed much of the growing fan engagement to its powerful rookie class.', 'Jersey sales for big names such as Caitlin Clark of the Indiana Fever and Angel Reese of the Chicago Sky contributed to a 236% jump in merchandise sales year over year.', 'The league also reported more diverse viewership.', 'The number of people tuning in to games on TV grew 60% year over year among people of color.', 'Viewership in the first week of the season more than doubled for young girls and people under age 35.""We\'re encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.']",0.2499879106919789,"Viewership in the first week of the season more than doubled for young girls and people under age 35.""We're encouraged by growing engagement across all our verticals, especially as we welcome new and diverse audiences into our fandom,"" Chief Growth Officer Colie Edison said in the release.",,0.9979255497455596,The number of people tuning in to games on TV grew 60% year over year among people of color.,,2024-06-15 -"Affirm buy now, pay later loans will be embedded into Apple Pay later this year",https://www.cnbc.com/2024/06/11/apple-pay-affirm-buy-now-pay-later-loans.html,2024-06-11T21:30:25+0000,"In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in its own update.""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.The move is a boost to Affirm and the buy now, pay later sector in general. When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm. But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more. The companies didn't provide details on the terms of the new loans.""The bottom-line — in our view — is that Affirm's strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers. Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email. Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",CNBC,11/06/2024,"['In this articleApple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday.', 'Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing.', 'Apple confirmed the news in its own update.', '""This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay alongside the features users love in Affirm – flexibility, transparency and no late or hidden fees,"" Affirm said in an email statement.', 'The move is a boost to Affirm and the buy now, pay later sector in general.', 'When Apple introduced its own BNPL product last year, investors were concerned that the tech giant would crowd out stand-alone providers like Affirm.', 'But the fact that Apple decided to also allow Affirm products in its ecosystem shows that the fintech company has something unique to offer.', ""For instance, while Apple's BNPL loan lets users repay purchases in four installments over six weeks, Affirm has an array of longer-term offerings that can be repaid over a year or more."", ""The companies didn't provide details on the terms of the new loans."", '""The bottom-line — in our view — is that Affirm\'s strong brand and sophisticated underwriting technology have a moat that Apple likely could not replicate on its own,"" Mizuho Securities analyst Dan Dolev said in a research note.', 'Apple also said that installment loans via credit and debit cards would be available on Apple Pay in the U.S. with Citigroup, Synchrony and Fiserv-related issuers.', 'Traditional credit card players have begun offering BNPL-style installment loans after their popularity surged during the Covid pandemicSynchrony said in an email that it was planning personalized installment loans with promotions based on the transaction size and merchant involved, with the possible use of promotional interest rates and loan durations. ""', 'This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony\'s chief growth officer, said in an email.', 'Thanks to the ubiquity of the iPhone, Apple Pay has more than 500 million users around the world and a leading market share in the U.S. for its mobile payment and digital wallet platform.', ""Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue."", '""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.']",0.3099241024494723,"This announcement with Apple marks an opportunity for Synchrony to scale our flexible payment options and offer our merchants the ability to expand their presence in a growing mobile payments ecosystem,"" Mike Bopp, Synchrony's chief growth officer, said in an email.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",0.4899860024452209,"Shares of Affirm rose 11% Tuesday, while Apple's stock was up 7.3%.Affirm's stock rose despite the fact that the company indicated it would take time for the partnership to significantly boost its revenue.","""Affirm does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025,"" the company said in its filing.",2024-06-15 -"Bezos' Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program",https://www.cnbc.com/2024/06/13/pentagon-picks-blue-origin-spacex-ula-in-5point6-billion-rocket-program.html,2024-06-14T11:37:37+0000,"In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time.Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts. Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.Space Force outlined a ""mutual fund"" strategy to buying launches from companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",CNBC,14/06/2024,"[""In this articleThe Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time."", ""Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program."", ""Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program."", 'Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029.ULA and SpaceX have already been competing for contracts under the previous Phase 2 edition of NSSL: In total, over five years of Phase 2 launch orders, the military assigned ULA with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion.', 'Blue Origin, as well as Northrop Grumman, missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.But with Phase 3, the U.S. military is raising the stakes — and widening the field — on a high-profile competition for Space Force mission contracts.', 'Phase 3 is expected to see 90 rocket launch orders in total, with a split approach of categories Lane 1 and Lane 2 to allow even more companies to bid.', 'Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that']",0.2602735573621667,Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program.,"Space Force outlined a""mutual fund"" strategy to buying launchesfrom companies under Phase 3: The military branch split the program into two lanes, in order to have one that features three companies fulfilling the most demanding and expensive missions, and the other that",0.8293253978093466,"Elon Musk's SpaceX and United Launch Alliance – also known as ULA, the joint venture of Lockheed Martin and Boeing – were also awarded contracts as part of the multi-year third phase of the NSSL program.",,2024-06-15 -Fisker recalls thousands of Ocean EVs for safety and compliance issues,https://www.cnbc.com/2024/06/12/fisker-recalls-thousands-of-ocean-evs-for-safety-and-compliance-issues.html,2024-06-12T17:52:33+0000,"In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues. The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons. The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.Fisker said that vehicles updated to OS 2.1 are not impacted by the recall. Fisker anticipates completing the software update process by June 30, 2024. The recalls come after months of setbacks for Fisker. Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand. Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels. In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open. This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement.Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available. The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.",CNBC,12/06/2024,"['In this articleElectric vehicle startup Fisker announced on Wednesday that it is recalling thousands of Ocean SUVs in North America and Europe due to issues with vehicle software and will roll out an over-the-air software update.', 'The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.', 'The affected vehicles potentially had issues with the Motor Control Unit and Vehicle Control Unit software, which could make the vehicle lose motor power, the company said in a press release.', 'Fisker also recalled 6,864 Oceans in the U.S. and 281 in Canada for compliance reasons.', 'The company said the vehicles do not currently comply with federal vehicle safety standards related to gauges and telltale icons in the cluster display.', 'Fisker said that vehicles updated to OS 2.1 are not impacted by the recall.', 'Fisker anticipates completing the software update process by June 30, 2024.The recalls come after months of setbacks for Fisker.', 'Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.', 'Fisker\'s struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup\'s shares due to ""abnormally low"" price levels.', ""In April, Reuters reported that the U.S. auto safety regulator opened an investigation into the 2023 Ocean due to complaints over the vehicles' doors failing to open."", ""This marked the National Highway Traffic Safety Administration's third probe into Fisker — additional investigations are open due to issues with the 2023 Ocean's brakes and unintended vehicle movement."", 'Fisker delivered 4,929 Oceans in 2023, the company said in February when announcing its full-year financial results, the most recent report available.', 'The company said it expected to deliver between 20,000 and 22,000 vehicles in 2024.The company said it informed its dealers of the recalls on May 30 and will notify owners by June 30.']",0.0060538940872337,"The company recalled 11,201 Oceans across the U.S., Canada, and Europe due to safety issues.","Fisker's struggles continued into March as talks for a potential deal with an unnamed large automaker collapsed, and the New York Stock Exchange announced plans to delist the startup's shares due to ""abnormally low"" price levels.",-0.9712965488433838,,Reuters reported in February that the company may not be able to continue as a going concern due to high interest rates causing a slowdown in demand.,2024-06-15 -From dying mall brand to Wall Street winner: How Abercrombie & Fitch pulled off retail's biggest comeback,https://www.cnbc.com/2024/06/13/inside-abercrombie-and-fitchs-comeback.html,2024-06-13T13:23:39+0000,"In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations. Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook. She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer. Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.",CNBC,13/06/2024,"['In this articleAbercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer.', ""Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations."", 'Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.', ""Over the last seven years, Horowitz changed Abercrombie's product assortment and moved the company away from loud branding and sex appeal, critical components of the retailer's past playbook."", ""She also overhauled the retailer's store footprint by closing hundreds of locations and changing the shops to look more modern, inviting and better suited to its new target customer."", 'Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.', ""To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.""]",0.3602311650416981,"Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success.","Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity.",0.9919991195201874,Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations.,,2024-06-15 -"At Stellantis investor day, cost cuts and China come into focus",https://www.cnbc.com/2024/06/12/stellantis-investor-day-wall-street-expectations.html,2024-06-12T16:29:01+0000,"In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. That's beginning to pay dividends for the company and investors.How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday.Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually. It's a target the company says it will achieve in 2024, a year ahead of schedule.More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.""We've been cutting headcounts, but we really don't need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""To engineer the systems for our 10-year road map, it's already done.""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we'll see."" He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.""There is no silver bullet here. You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""This is no surprise. You can check my comments for the last five years. I've been running the same stuff for five years.""Future cost-saving efforts could be part of the company's Thursday capital markets day.Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight.""We want to help you better understand how we see the industry evolving, how we're leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns.""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China.At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days.Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.Tavares has called Chinese automakers his ""No. 1 competitor"" and said the company is taking an ""asset-light"" strategy. That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor.""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed. We don't expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March. GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.— CNBC's Michael Bloom contributed to this report.",CNBC,12/06/2024,"['In this articleDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission.', ""That's beginning to pay dividends for the company and investors."", ""How the trans-Atlantic automaker expects to keep that momentum amid uncertainty surrounding all-electric vehicles and increasing competition from Chinese automakers is expected to be in focus this week as Tavares leads the automaker's investor day Thursday."", ""Tavares and other executive are expected to address Chinese competition, capital discipline, forthcoming products, software initiatives, and potentially, further cost reductions as the company aims to achieve ambitious financial targets by 2030.When Tavares' PSA Groupe merged with Fiat Chrysler in January 2021, the freshly combined company set out to reduce spending by 5 billion euros, or about $5.4 billion, annually."", ""It's a target the company says it will achieve in 2024, a year ahead of schedule."", 'More recently, Tavares has said the parent of brands like Ram and Jeep needs to remove 40% of its costs to be able to profitably produce and sell EVs to mass-market consumers, citing the need for affordable models despite higher costs to manufacture the vehicles.', '""We are not in the race to transition to EVs, but in a race to cut cost on EVs,"" Tavares said in late May during a Bernstein investor conference.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', ""The cost-saving measures have included reshaping the company's supply chain and operations as well as headcount reductions."", 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, described them as grueling to the point of excessiveness.', 'Since the merger was agreed to in December 2019, Stellantis has reduced headcount by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers the U.S. and Italy have drawn the ire of unions in both countries.', ""Meanwhile the associated billions in operational savings have helped to increase the automaker's adjusted operating income by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it\'s optimizing design and function for its new vehicles.', 'Curic, who joined the company from Amazon in 2021, said headcount reductions, including laying off about 400 U.S. engineers in March, come after the company completed many of its systems for the next decade.', '""We\'ve been cutting headcounts, but we really don\'t need that many,"" he said during an interview last month, adding the company still employs 50,000 or so engineers. ""', ""To engineer the systems for our 10-year road map, it's already done."", '""Tavares, when asked last month whether additional cuts would be needed in the U.S., said ""we\'ll see.""', 'He said officials ""still have work to do"" when it comes to getting EVs to be as profitable as traditional internal combustion engine, or ICE, vehicles.', '""There is no silver bullet here.', 'You need to throw 40% of additional cost because the middle class in the U.S. as much as the middle class of Europe, they need to buy EVs at the price of ICEs,"" he said during a media roundtable in May. ""', 'This is no surprise.', 'You can check my comments for the last five years.', ""I've been running the same stuff for five years."", '""Future cost-saving efforts could be part of the company\'s Thursday capital markets day.', ""Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight."", '""We want to help you better understand how we see the industry evolving, how we\'re leveraging standout technology, our leading operational discipline, and other competitive advantages that distinguish ourselves further,"" she told investors in April. ""', ""And how we're building a powerful and productive capital discipline that help us maintain and maximize sustainable returns."", '""Stellantis declined to disclose any specifics ahead of the event, which is taking place at its North American headquarters in Auburn Hills, Michigan.', ""Wall Street will be looking for executives to address the company's growing U.S. vehicle inventory levels, upcoming product launches and plans for China."", ""At the start of May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.', 'Tavares has called Chinese automakers his ""No.', '1 competitor"" and said the company is taking an ""asset-light"" strategy.', ""That includes plans to quickly grow vehicle exports from the country through a Stellantis-controlled joint venture with China's Leapmotor."", '""The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.', 'We don\'t expect any new financial targets to be announced,"" UBS analyst Patrick Hummel wrote in a Thursday investor note.', ""Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor."", ""Stellantis' U.S.-traded shares are down more than 6% this year and off roughly 30% from an all-time high of more than $29.50 per share in March."", 'GM shares in contrast are up more than 30% this year, and Ford shares are essentially flat.', 'RBC Capital Markets analyst Tom Narayan notes Stellantis, which has a roughly $68 billion market cap, should return 7.7 billion euros to shareholders in 2024 — 4.7 billion euros in dividends and 3 billion euros in buybacks.', 'Redburn Atlantis analyst Adrian Yanoshik last week in a note said largely muted expectations raise the potential for Stellantis to outperform expectations.—', ""CNBC's Michael Bloom contributed to this report.""]",0.1316323402178248,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.","Meanwhile the threat of cheaper, Chinese-made EVs looms in the background.",0.520694066177715,"Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame to 12.8%.Stellantis Chief Technology Officer Ned Curic said the company is operating far more efficiently than before, including ""proper system engineering"" to ensure it's optimizing design and function for its new vehicles.",Hummel and other analysts have noted a divergence in Stellantis' stock performance compared with that of General Motors and Ford Motor.,2024-06-15 -Elon Musk wins record-breaking Tesla pay deal from shareholders,https://www.bbc.co.uk/news/articles/cleezyxjv4jo,2024-06-13T04:18:36.115Z,"Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas. The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders. The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price. ""Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm's annual meeting. The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package. However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.” The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk. In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"". Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"". She also highlighted Todd Maron, Tesla's former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"". Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal. The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure. But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base. The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""It's a pretty ringing endorsement,"" said car industry analyst Karl Brauer. Mr Musk got more than enough shareholder support ""to justify the package,"" he added. Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter. Shares in the company closed up nearly 3% after Mr Musk's announcement. The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price. Tesla had said that Mr Musk's goals were challenging. However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""My understanding is that there's been about 1,100% appreciation in Tesla stock. And that's pretty, pretty impressive. Most chief executives have never done anything like that,"" said Mr Brauer. On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC's Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""That’s a very, very good return,"" he said. Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000. Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company. Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said. Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success. Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes. Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk. ",BBC,13/06/2024,"[""Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas."", 'The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.', 'The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn).', 'The exact amount depends on the Tesla share price. ""', 'Hot damn, I love you guys,"" he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm\'s annual meeting.', ""The deal is worth more than 300 times what the top-earning boss in the US made last year, and more than 3,000 times the average CEO's pay package."", 'However, the vote is not binding and legal experts have said it is not clear if the court that blocked the deal will accept the re-vote and allow the company to restore the pay package. ""', 'The vote changes nothing,"" said Mathieu Shapiro, a managing partner at law firm Obermayer Rebmann Maxwell & Hippel. ""', 'It only offers Tesla opportunities to try to use the vote to obtain a better decision going forward. “', 'It will be interesting to see if another court is willing to credit a vote taken after the trial court’s decision.”', 'The eye-popping sum had sparked criticism and raised concerns that the board of Tesla was too submissive and close to Mr Musk.', 'In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".', 'Chancellor McCormick had pointed out that Antonio Gracias, who had been a board director at Tesla, had ""the sort of personal relationship that had him vacationing with Musk’s family on a regular basis"".', 'She also highlighted Todd Maron, Tesla\'s former general counsel, ""who was Musk’s former divorce attorney and whose admiration for Musk moved him to tears during his deposition"".', ""Mr Musk announced that he wanted to move the firm's legal headquarters to Texas after the court in Delaware, where it is currently incorporated, voided his pay package, siding with a small investor who had sued over the deal."", ""The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure."", ""But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base."", 'The pay proposal received 72% of the votes cast, similar to the 73% total in 2018, when it was first approved. ""', 'It\'s a pretty ringing endorsement,"" said car industry analyst Karl Brauer.', 'Mr Musk got more than enough shareholder support ""to justify the package,"" he added.', 'Mr Musk had previewed the results in a post on his social media company, X, formerly known as Twitter.', ""Shares in the company closed up nearly 3% after Mr Musk's announcement."", 'The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.', ""Tesla had said that Mr Musk's goals were challenging."", 'However, the original lawsuit that led to the Delaware court blocking the pay deal alleged that the targets were the same as internal growth projections that were being shared with banks. ""', ""My understanding is that there's been about 1,100% appreciation in Tesla stock."", ""And that's pretty, pretty impressive."", 'Most chief executives have never done anything like that,"" said Mr Brauer.', 'On whether Mr Musk deserved such a large pay aware, Georg Ell, former director of Western Europe at Tesla, told the BBC\'s Today programme: ""If I was an investor who put a substantial amount of money into this in 2018 and had held it throughout the period, I’d be very happy because I would have seen anywhere between... 13 and 16 times my money back. ""', 'That’s a very, very good return,"" he said.', 'Mr Ell disclosed that he has a small shareholding in Tesla, worth around £6,000.', ""Tesla's board said Mr Musk deserved the package because the carmaker had achieved its targets under his leadership and that it was necessary to ensure he remains dedicated to the company."", 'Mr Ell said that the result of the vote gives Mr Musk ""a very strong validation"" ""At Tesla of course he doesn’t do it all alone but he definitely sets the agenda, he sets the pace and he is a relentless person to work for, there’s no doubt about that,"" he said.', ""Tesla executives expressed support for the package in social media posts, saying that Mr Musk was crucial to the company's success."", ""Meanwhile, Mr Musk promised a personal tour of Tesla's factory in Texas to some shareholders who cast votes."", ""Shareholders also approved the re-election of two board members at the meeting on Thursday: James Murdoch, the son of media tycoon Rupert Murdoch, and Mr Musk's brother Kimbal Musk.""]",0.269444758336889,"The compensation plan gives Mr Musk rights to roughly 300 million shares - the equivalent to a 10% stake in the firm - as a reward for Tesla meeting a number of goals set out in 2018 which are linked to sales, profits and the share price.","In the January court ruling, Delaware judge Kathaleen McCormick ruled the sum was ""unfair"" and the process for determining the package, by a board dominated by Mr Musk, was ""deeply flawed"".",0.4500754390444074,"But Mr Musk rallied his fan base in support of the deal, appealing particularly to individual investors, who make up an unusually large portion of the firm's shareholder base.","The fight over the plan had aired concerns about Mr Musk's leadership, at a time when Tesla's share price has fallen from its height and its position in the electric car industry is under pressure.",2024-06-15 -UAW president under investigation by federal monitor,https://www.cnbc.com/2024/06/10/uaw-president-shawn-fain-federal-monitor-investigation.html,2024-06-11T00:54:50+0000,"DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents.The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they'll find: a UAW leadership committed to serving the membership, and running a democratic union. We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.""The union is in the middle of a national organizing drive of nonunion automakers. The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.The court filing, which was first reported by The Detroit News, says Barofsky's concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union's Regional Directors.""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.""The filing states more than three months after the monitor's initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.""The monitor believes the ""union's delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges. It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.",CNBC,11/06/2024,"['DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing.', 'The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president.', 'He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information.', 'Such actions could potentially violate a 2020 consent decree between the UAW and the U.S. Department of Justice that avoided a federal takeover of the union.', '""The Monitor has attempted for months to garner the Union\'s cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor\'s access to requested documents,"" the court filing reads.', ""More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents."", 'The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.', 'Without specifically addressing any issues in the filing, Fain released a statement Monday night: ""Taking our union in a new direction means sometimes you have to rock the boat, and that upsets some people who want to keep the status quo, but our membership expects better and deserves better than the old business as usual.', '""We encourage the Monitor to investigate whatever claims are brought to their office, because we know what they\'ll find: a UAW leadership committed to serving the membership, and running a democratic union.', ""We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job."", '""The union is in the middle of a national organizing drive of nonunion automakers.', ""The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis."", 'The court filing, which was first reported by The Detroit News, says Barofsky\'s concerns largely began in February, after the monitor ""began investigating current members of the IEB—including the President, Secretary-Treasurer, and one of the Union\'s Regional Directors.', '""The probe stems from union leaders removing all responsibilities assigned to Secretary-Treasurer Margaret Mock that were not constitutionally required amid allegations she had engaged in misconduct while carrying out her financial oversight responsibilities.', 'In response, the filing says Mock ""lodged allegations of her own against the Union\'s President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.', '""The filing states more than three months after the monitor\'s initial document request, the union has produced ""a very small portion (approximately 2,600 documents) of the current potentially relevant pool of approximately 116,000—and with more than 80% of those documents only produced on June 6, 2024, days before the issuance of this report.', '""The monitor believes the ""union\'s delay of relevant documents is obstructing and interfering with his access to information needed for his investigative work, and, if left unaddressed, is an apparent violation of the Consent Decree,"" the filing reads.', 'The consent decree followed a yearslong corruption probe into the union involving embezzlement, bribery and other charges.', 'It resulted in several convictions of union leaders and Fiat Chrysler executives, including two past union presidents.']",0.0562732771542696,"We're staying focused on winning record contracts, growing our union, and fighting for economic and social justice on and off the job.","In response, the filing says Mock ""lodged allegations of her own against the Union's President that, among other things, the charges against her were false, and that the removal of her authority was improperly instigated in retaliation for her refusal or reluctance to authorize certain expenditures.",-0.0189127666609627,"The accusations follow Fain's rise to international prominence after the union under his leadership scored record-setting contracts last year with General Motors, Ford Motor and Stellantis.","""The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents,"" the court filing reads.",2024-06-15 -These cities are now so expensive they’re considered ‘impossibly unaffordable’,https://edition.cnn.com/2024/06/14/business/house-prices-impossibly-unaffordable-intl-hnk/index.html," - Updated - 10:08 AM EDT, Fri June 14, 2024 - ","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home. - - But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable.” - - The report compared average incomes with average home prices. It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring. - - US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years. - - Perhaps unsurprisingly, the most expensive US cities to buy home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10. - - The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries. - - Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney and the southern cities of Melbourne in Victoria and Adelaide in South Australia. - - But topping the global leaderboard is Hong Kong, the compact Asian financial hub known for its tiny apartments and sky-high rents. Notably, it’s the only Chinese market covered in the report. - - A regular entrant on the “most expensive” tables, Hong Kong has the lowest home ownership rate of all the cities surveyed, at just 51%, compared to its Asian rival Singapore where home ownership tops 89% due to the government’s decades-long commitment to public housing. - - Hong Kong may be the least affordable city worldwide, but potential home buyers may be encouraged to know that it’s not as unaffordable as it once was. - - House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city. - - The report measures affordability using a price-to-income ratio of the median house price divided by the gross median household income. - - It links the rise in working from home during the pandemic to a “demand shock” for houses outside city centers, which have more outside space. But it also blames soaring house prices on land use policies, including “urban containment,” a kind of planning designed to stop urban sprawl. - - “The middle-class is under siege principally due to the escalation of land costs. As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up,” the report said. - - Prices were driven up even further as investors jumped into the market to make a profit. - - One solution, the report’s author wrote, is to look to New Zealand. - - In an opinion piece for Canada’s Financial Post, Wendell Cox, a senior fellow at the Frontier Centre for Public Policy, advocated for Canada, in particular, to follow New Zealand’s lead and free up more land for immediate development. - - Both Vancouver and Toronto made the list of the cities that are “impossibly unaffordable.” - - Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth. - - “Toronto and Vancouver show that the cost of taming expansion is unacceptably high: inflated house prices, higher rents and, for increasing numbers of people, poverty,” Cox wrote. - - For those who can’t wait for a change in policy or for demand to fall, the report also identifies the most affordable cities of the 94 surveyed worldwide. - - They are Pittsburgh, Rochester and St Louis in the US; Edmonton and Calgary in Canada; Blackpool, Lancashire and Glasgow in the United Kingdom; and Perth and Brisbane in Australia. - - The report was compiled by researchers from the Center for Demographics and Policy at Chapman University in California and the Frontier Centre for Public Policy, an independent public policy think tank in Canada.",CNN,14/06/2024,"['Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.', 'But a new report sums up the feeling of many potential home buyers by creating a category that labels some major cities as “impossibly unaffordable.”', 'The report compared average incomes with average home prices.', 'It found that pandemic-driven demand for homes with outside space, land use policies aimed at limiting urban sprawl, and investors piling into markets had sent prices soaring.', 'US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years.', 'Perhaps unsurprisingly, the most expensive US cities to buy home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10.', 'The Hawaiian capital of Honolulu also rates a mention in sixth place of 94 major markets surveyed in eight countries.', 'Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney andthe southern cities of Melbourne in Victoria and Adelaide in South Australia.', 'But topping the global leaderboard is Hong Kong, the compact Asian financial hub known for its tiny apartments and sky-high rents.', 'Notably, it’s the only Chinese market covered in the report.', 'A regular entrant on the “most expensive” tables, Hong Kong has the lowest home ownership rate of all the cities surveyed, at just 51%, compared to its Asian rival Singapore where home ownership tops 89% due to the government’s decades-long commitment to public housing.', 'Hong Kong may be the least affordable city worldwide, but potential home buyers may be encouraged to know that it’s not as unaffordable as it once was.', 'House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city.', 'The report measures affordability using a price-to-income ratio of the median house price divided by the gross median household income.', 'It links the rise in working from home during the pandemic to a “demand shock” for houses outside city centers, which have more outside space.', 'But it also blames soaring house prices on land use policies, including “urban containment,” a kind of planning designed to stop urban sprawl.', '“The middle-class is under siege principally due to the escalation of land costs.', 'As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up,” the report said.', 'Prices were driven up even further as investors jumped into the market to make a profit.', 'One solution, the report’s author wrote, is to look to New Zealand.', 'In an opinion piece for Canada’s Financial Post, Wendell Cox, a senior fellow at the Frontier Centre for Public Policy, advocated for Canada, in particular, to follow New Zealand’s lead and free up more land for immediate development.', 'Both Vancouver and Toronto made the list of the cities that are “impossibly unaffordable.”', 'Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth.', '“Toronto and Vancouver show that the cost of taming expansion is unacceptably high: inflated house prices, higher rents and, for increasing numbers of people, poverty,” Cox wrote.', 'For those who can’t wait for a change in policy or for demand to fall, the report also identifies the most affordable cities of the 94 surveyed worldwide.', 'They are Pittsburgh, Rochester and St Louis in the US; Edmonton and Calgary in Canada; Blackpool, Lancashire and Glasgow in the United Kingdom; and Perth and Brisbane in Australia.', 'The report was compiled by researchers from the Center for Demographics and Policy at Chapman University in California and the Frontier Centre for Public Policy, an independent public policy think tank in Canada.']",0.071200811841246,"Cox points to a policy, “Going for Housing Growth,” introduced by New Zealand’s coalition government that requires local authorities to immediately zone for 30 years of housing growth.","Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.",-0.3996921089979318,Prices were driven up even further as investors jumped into the market to make a profit.,"House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city.",2024-06-15 -Servers for GameStop annual shareholder meeting crash due to overwhelming interest,https://www.cnbc.com/2024/06/13/gamestop-annual-shareholder-meeting-2024-servers-crash.html,2024-06-14T12:23:03+0000,"In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream. The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event. The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.It said the meeting will be reconvened at 12:30 p.m. ET on Monday. GameStop didn't respond to CNBC's request for comment.When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that ComputerShare's tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes."" The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years. Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.GameStop surged 14.4% on Thursday in another volatile session.GameStop announced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally. GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock.In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns. Call options give the buyer the right to buy a stock at a specified price within a specific period. They increase in value if the stock rises above the so-called strike price.GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.",CNBC,14/06/2024,"[""In this articleGameStop's annual shareholder meeting was disrupted by computer problems and postponed on Thursday, as servers crashed under overwhelming interest in the stream, according to the company and a customer service representative for the firm hosting the stream."", ""The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event."", 'The meeting was later brought to order and was immediately adjourned without any business being conducted ""due to technical difficulties with the third-party hosting site,"" GameStop later said in a statement.', 'It said the meeting will be reconvened at 12:30 p.m. ET on Monday.', ""GameStop didn't respond to CNBC's request for comment."", 'When reached by phone during the disruption, a customer service rep for ComputerShare told CNBC that it was seeing a ""mass amount"" of issues from people trying to access the meeting.', ""The rep said ComputerShare's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts."", 'They added that ComputerShare\'s tech team was working to solve the issue and advised interested parties to attempt to log in ""every 5 to 10 minutes.', '""The debacle comes amid a new meme stock craze that surged when Keith Gill — known as Roaring Kitty online — resumed posting on his social accounts after going dark for more than three years.', 'Gill gained notoriety in the online trading realm for his big bets on the stock, spurring a frenzy among retail traders.', 'GameStop surged 14.4% on Thursday in another volatile session.', 'GameStopannounced Tuesday that it raised more than $2 billion in a recent at-the-market equity sale as the video game company took advantage of the revived meme rally.', 'GameStop said it intends to use the money for general corporate purposes, which may include acquisitions and investments.', ""Traders have been closely monitoring Roaring Kitty's positioning, as his active selling could knock the price of the stock."", 'In late afternoon trading Wednesday, a sell-off in GameStop shares intensified suddenly just as the trading volume spiked in the call options that Roaring Kitty owns.', 'Call options give the buyer the right to buy a stock at a specified price within a specific period.', 'They increase in value if the stock rises above the so-called strike price.', 'GameStop calls with a $20 strike price and expiration on June 21 traded a whopping 93,266 contracts Wednesday, more than nine times its 30-day average volume of 10,233 contracts.', 'The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.', 'It is unclear if it was indeed Roaring Kitty behind the large volume, but options traders said he could be involved given he is such a large holder of those contracts.', ""Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.""]",0.1013017582753665,"Open interest on those calls, the total number of contracts for an asset that have not been settled, has declined to 111,818 contracts as of Thursday morning, already below Roaring Kitty's original 120,000.More than 47,000 such contracts have changed hands Thursday.","The meeting, slated to begin at 11 a.m. ET, was hosted on ComputerShare, but when people tried to access the event, many received error messages that the page couldn't load, according to posts made on social media site X and CNBC's own attempts to access the event.",-0.2003346773294302,GameStop surged 14.4% on Thursday in another volatile session.,"The price of these contracts dropped more than 40% during the session, while the stock plunged 16.5%.Roaring Kitty owned 120,000 contracts of those calls, according to a screenshot he shared Monday evening.",2024-06-15 -"Stellantis aims to correct 'arrogant' mistakes in U.S. market, CEO says",https://www.cnbc.com/2024/06/13/stellantis-has-achieved-9-billion-in-cost-reductions-from-merger.html,2024-06-13T20:28:51+0000,"In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company's investor day at its North American headquarters. ""When I'm saying that you are arrogant, I'm talking about myself. I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there.""During the investor day, Tavares and his top lieutenants broadly updated investors on the company's operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty. The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets. Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days. Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.While sales have been down, the company remains among the most profitable automakers globally. Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year. Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive. That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formed one of the world's largest automakers.Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing.Cost-cutting has been a critical mission of the veteran automotive executive. Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions.Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings. Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.Several Stellantis executives described the cuts to CNBC as difficult but effective. Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker's 2030 ""Dare Forward"" strategic plan.Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks. The automaker anticipates that Jeep will be a main driver for the company globally. Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Tavares said. ""We are going to reinforce the manufacturing footprint of Jeep.""",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker\'s U.S. operations that led to sales declines, bloated inventories and investor concerns.', 'Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically with two unnamed plants; and lack of ""sophistication in the way to go to market.', '""""We had a convergence of three things that should have triggered, from me and nobody else, an immediate task force to address those things,"" he told media Thursday after the company\'s investor day at its North American headquarters. ""', ""When I'm saying that you are arrogant, I'm talking about myself."", ""I'm talking about the fact that I should have acted immediately recognizing that the convergence of those three problems was there."", '""During the investor day, Tavares and his top lieutenants broadly updated investors on the company\'s operations and how Stellantis plans to achieve ambitious financial targets amid industry and economic uncertainty.', 'The company also reconfirmed its 2024 guidance and vowed to continue to return capital to shareholders going forward.', ""Tavares did not elaborate on the manufacturing or go-to-market problems, but Stellantis' inventory of vehicles leads major U.S. automakers as the company has held back incentives and cut marketing budgets."", ""Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue."", ""In May, Cox Automotive reported days' supply of vehicles at Stellantis' Jeep and Ram brands were more than twice the industry average of 76 days."", 'Stellantis was the only major automaker to report a decline in U.S. sales last year; its market share dropped below 10%; and Hyundai, including Kia, outsold Stellantis for the first time ever.', 'While sales have been down, the company remains among the most profitable automakers globally.', ""Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year."", 'Its adjusted profit margin is also up, rising 0.4 percentage point during that time frame, to 12.8%.Stellantis reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.', 'Its average vehicle transaction price in the U.S. was $57,266, according to Cox Automotive.', ""That compares to an industry average of $48,389.As part of the event, Tavares said Stellantis has achieved 8.4 billion euros ($9 billion) in cost reductions from the merger of Fiat Chrysler and PSA Groupe that created the company in January 2021.That amount is more than double initial expectations from when the merger was announced in 2019, and an increase from the updated 5 billion euros in expected reductions within five years of completion of the merger, which formedone of the world's largest automakers."", ""Tavares said the largest reduction was achieved in the sharing and consolidation of engineering assets for the company's vehicles, followed by purchasing."", 'Cost-cutting has been a critical mission of the veteran automotive executive.', ""Other cost-saving measures have included reshaping the company's supply chain and operations, as well as head-count reductions."", 'Since the merger was agreed to in December 2019, Stellantis has reduced head count by 15.5%, or roughly 47,500 employees, through 2023, according to public filings.', 'Additional job cuts this year involving thousands of plant workers in the U.S. and Italy have drawn the ire of unions in both countries.', 'Several Stellantis executives described the cuts to CNBC as difficult but effective.', 'Others, who spoke on the condition of anonymity due to potential repercussions, have described them as grueling to the point of excessiveness.', ""The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030."", 'The plan also includes targets such as achieving adjusted operating profit of more than 12% and industrial free cash flow of more than 20 billion euros.', '""We are not looking for our way; we know where we are going,"" Tavares said, referring to the automaker\'s 2030 ""Dare Forward"" strategic plan.', 'Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.', 'The automaker anticipates that Jeep will be a main driver for the company globally.', 'Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Tavares said. ""', 'We are going to reinforce the manufacturing footprint of Jeep.""']",0.0910056018442069,"Stellantis reconfirmed its 2024 guidance that included a double-digit adjusted operating income (AOI) margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.","In this articleAUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as ""arrogant"" mistakes by himself and the company in the automaker's U.S. operations that led to sales declines, bloated inventories and investor concerns.",0.2339884865851629,"Since merging Fiat Chrysler and PSA Groupe to form Stellantis in 2021, the automaker's adjusted operating income rose by 31% from 2021 through last year.","Stellantis' U.S. sales were off 10% during the first quarter, leading to notable declines in revenue.",2024-06-15 -Delta to launch premium economy service on NYC-LA flights in air travel upsell race,https://www.cnbc.com/2024/06/10/delta-premium-economy-nyc-la.html,2024-06-10T18:56:02+0000,"In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights. It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips. JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin. Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s. Delta said it plans to expand service later this year.Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket. The seats were sold as extra legroom tickets, which are a rung below premium economy.Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.",CNBC,10/06/2024,"['In this articleDelta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks.', 'Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights.', 'It sits between first or business class and the rest of economy and can command a ticket price often twice as much as standard coach.', 'Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.', 'JetBlue Airways this year said its turnaround plan will emphasize profitable routes that offer its Mint business-class cabin.', 'Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.', ""Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion."", ""The added service will start Sept. 10 on four of 11 peak-day flights between Los Angeles and New York's John F. Kennedy International Airport on Boeing 767s."", 'Delta said it plans to expand service later this year.', 'Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights.', 'Delta said Medallion elite members of its loyalty program, will be eligible for complimentary upgrades to so-called Delta Premium Select, but they will also be able to list for upgrades to its top-tier Delta One product on those flights.', ""Some of Delta's planes flying some routes previously had premium economy seats on them, but the carrier wasn't offering the service that comes along with it, like amenities kits, noise-canceling headphones, a full meal and a blanket."", 'The seats were sold as extra legroom tickets, which are a rung below premium economy.', ""Some American Airlines' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.""]",0.2113299976676102,"Delta and its rivals like United are locked in an arms race to outfit planes with more premium seating, upgrade lounges and sell more rewards cards to capitalize on higher-spending travelers, while airfare overall slips.",,0.2140295982360839,"Ticket revenue from Delta's main cabin rose 4% in the first quarter to $5.4 billion from a year ago, while premium-product revenue came in 10% higher at $4.4 billion.","Even Southwest Airlines, under pressure to increase revenue, is considering a more expensive seat on its planes, breaking from its decades-old business model.",2024-06-15 -Nathan's hot dog contest parts ways with champion Joey Chestnut over plant-based frank partnership,https://www.cnbc.com/2024/06/11/joey-chestnut-out-of-nathans-hot-dog-contest.html,2024-06-12T00:48:49+0000,"In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year.Major League Eating announced Tuesday that it's parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year's competition, hosted by Nathan's Famous.Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement. The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment.An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year. CNBC has not independently verified the account. The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with. This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event.""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world. So I hope he's there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan's to accommodate Chestnut's requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021. Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN. It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline.Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",CNBC,12/06/2024,"[""In this articleThe Nathan's Famous Fourth of July hot dog eating contest will be down one dog this year."", 'Major League Eating announced Tuesday that it\'s parting ways with 16-time champion Joey ""Jaws"" Chestnut ahead of this year\'s competition, hosted by Nathan\'s Famous.', 'Chestnut was previously offered a $1.2 million, four-year contract with MLE to participate in the hot dog competition, a source familiar with the matter told CNBC.The decision to end the relationship comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, the organization told CNBC in a statement.', ""The New York Post reported that the brand is Impossible Foods, though the company didn't immediately provide a comment."", 'An account on X under Chestnut\'s name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan\'s hot dog eating contest this year.', 'CNBC has not independently verified the account.', 'The post also said: ""To set the record straight, I do not have a contract with MLE or Nathans and they are looking to change the rules from past years as it relates to other partners I can work with.', ""This is apparently the basis on which I'm being banned, and it doesn't impact the July 4th event."", '""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.', 'For nearly two decades, contestants, including Chestnut, have worked under the same ""hot dog exclusivity provisions,"" the MLE said in a statement.', '""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.', 'So I hope he\'s there on July fourth as we celebrate Independence Day and he changes his choice to promote a veggie hot dog rather than ours,"" Major League Eating President Richard Shea told CNBC.The MLE said it worked with Nathan\'s to accommodate Chestnut\'s requests, including allowing him to compete in a rival unbranded hot dog eating contest on Labor Day to be streamed by an unnamed major platform.', ""Joey Chestnut holds the Guinness World Record for eating the most hot dogs in 10 minutes, a title he won at the annual hot dog eating contest in 2021.Nathan's Famous Hot Dog Eating Contest in Coney Island, New York, is a Fourth of July tradition and broadcast nationally on ESPN."", ""It's also a marketing strategy for Nathan's Famous, whose signature offering, the hot dog, is on a decline."", 'Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.']",0.2157806098957802,"""Joey is a great champion and a friend, and he is loved in Coney Island and all around the world.","An account on X under Chestnut's name late Tuesday said he was ""gutted"" to find out from the media that he was ""banned"" from Nathan's hot dog eating contest this year.",-0.5937366843223572,"""Impossible Foods offers plant-based hot dogs, which the company claims to be healthier and more eco-friendly than the traditional meat version, with half the saturated fat of the animal version and 84% less greenhouse gas emissions generated.","Particularly with the rise of health-conscious eating habits and the increasing importance of the wellness trend for consumers, the American staple food hot dog is one of many processed foods whose sales have been hurting.",2024-06-15 -Netflix hunts for a production partner for its Christmas NFL games,https://www.cnbc.com/2024/06/13/netflix-nfl-christmas-games-broadcast-partner.html,2024-06-13T19:57:54+0000,"In this articleNetflix is trying to get ready for some football.The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter. Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier. The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment."" Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team. That's left the streamer looking for help.Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private. Disney won't produce the games because it already has college football obligations the same day, two of the people said.In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited.Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.There's also competition to consider.Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter. That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season.Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform. Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day. Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.For the NFL, Netflix represents the chance to reach a global, younger audience. There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games.The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.""Netflix and the league are looking to mirror the partnership that Amazon's Prime Video lined up with Comcast's NBC Sports for ""Thursday Night Football"" games.While NBC Sports' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.Netflix is interested in finding a similar partner, according to people familiar with its plans.If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers. Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple.""It's not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division.""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively. Alphabet's YouTube TV is also the new home of the ""Sunday Ticket"" package of games.Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming. NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.The league has been vocal in its push to add more streaming partners in an effort to widen its audience.That was the thinking behind the deal with Netflix to stream these Christmas Day games.When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.""I think that's best for consumers at this stage,"" Goodell said at the time.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,13/06/2024,"['In this articleNetflix is trying to get ready for some football.', 'The streaming giant has been reaching out to broadcasters this week in the hopes of finding a partner to produce the NFL games it will air on Christmas Day this year, according to people familiar with the matter.', 'Netflix will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the company announced last month.', ""This is Netflix's first real foray into traditional live sports, driven by the company's ambitions to grow its advertising tier."", 'The company signed a deal earlier this year with WWE to be the home for its live ""Raw"" events, but Netflix dubbed that deal as ""sports entertainment.""', ""Unlike WWE, Netflix's deal for Christmas NFL games doesn't come with a full production team."", ""That's left the streamer looking for help."", ""Netflix has been in touch with the broadcasters that currently air NFL games, including Disney's ESPN, Comcast's NBCUniversal and Paramount Global's CBS Sports, said the people familiar, who asked not to be named because the discussions have been private."", ""Disney won't produce the games because it already has college football obligations the same day, two of the people said."", ""In-depth discussions haven't begun with the other broadcasters, but Netflix's options may be somewhat limited."", 'Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.', ""There's also competition to consider."", 'Amazon inked a deal with NBCUniversal to produce its NFL games before its first season of ""Thursday Night Football"" in 2022, but there may be more resistance among current NFL partners to help out Netflix, according to people familiar with the matter.', ""That's because Netflix could be auditioning as a future long-term media rights partner for NFL games in place of a legacy media company, such as Paramount, Fox or NBC.The NFL has an out clause in its current media contracts that allows it to select new media partners after the 2029-30 season."", 'Representatives for Netflix, the NFL, NBCUniversal, CBS, ESPN and Fox declined to comment.', 'Netflix announced its entry into the NFL in mid-May ahead of its Upfront presentation, when it tried to woo advertisers for its burgeoning ad-supported platform.', ""Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day."", 'Netflix will pay the NFL roughly $75 million per game, CNBC previously reported.', 'For the NFL, Netflix represents the chance to reach a global, younger audience.', ""There's also the potential to lay the groundwork for Netflix to become a future bidder on a larger package of games."", 'The NFL signed long-term deals in 2021 with Disney, Paramount, NBCUniversal, Fox and Amazon for its five primary packages of games.', 'While there is some trepidation among current media partners to produce games for a potential rival, pressure from the league — and a hefty paycheck from Netflix — could convince broadcasters to strike a deal, according to people familiar with the matter.', '""There aren\'t that many players in the space who are capable of doing this at a level that you would want to trust when you\'re launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.', '""Netflix and the league are looking to mirror the partnership that Amazon\'s Prime Video lined up with Comcast\'s NBC Sports for ""Thursday Night Football"" games.', 'While NBC Sports\' Fred Gaudelli produced the 2022 season of ""Thursday Night Football,"" Amazon appointed Mark Teitelman, one of its own employees, to the role of lead game producer in 2023.Amazon produces all of its pregame, halftime and postgame coverage, but NBC Sports handles the extensive production work that goes into an NFL game, and employs the vast majority of those workers.', 'Netflix is interested in finding a similar partner, according to people familiar with its plans.', ""If a deal can't be made with one of the incumbents, Netflix could find other options with third-party producers."", ""Endeavor Group Holdings' IMG is the production partner for Major League Soccer, which is offered through Apple."", '""It\'s not easy to do an NFL game at a level that people are used to watching, which is a very high level and well produced,"" said Jonathan Miller, chief executive of Integrated Media, which specializes in digital media investment. ""', ""But there's a number of options out there that can pull it together without [Netflix] having a fully staffed sports division."", '""Amazon Prime Video was the first streamer to obtain exclusive rights to NFL games as the league pushed to broaden its media partners and have more streaming offerings to widen its audience.', 'Amazon reached its deal to carry ""Thursday Night Football"" in 2021 in conjunction with the rest of the media rights deals for the NFL — an 11-year media rights agreement worth over $100 billion, with an opt out clause at the seven-year mark.', 'Given the recent NBA media rights negotiations, which are beckoning top dollar from various media companies, many in and around the industry expect the NFL to exercise the clause and look for new partners.', 'Since the NFL has inked its deal, streaming services for Comcast, ESPN and Paramount have begun to simultaneously stream games, and in some cases, hosted games exclusively.', 'Alphabet\'s YouTube TV is also the new home of the ""Sunday Ticket"" package of games.', 'Sports, particularly the NFL, have been the glue holding the traditional TV bundle together — and have also proved to be a boost to streaming.', 'NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.', 'The league has been vocal in its push to add more streaming partners in an effort to widen its audience.', 'That was the thinking behind the deal with Netflix to stream these Christmas Day games.', 'When the ""Sunday Ticket"" rights negotiations were underway, NFL Commissioner Roger Goodell told CNBC the longtime package offered only by DirecTV would move to streaming.', '""I think that\'s best for consumers at this stage,"" Goodell said at the time.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1863829998875434,"Netflix said last month it has reached 40 million global active users for its advertising tier, which costs $6.99 per month in the U.S. and debuted in November 2022.In May, co-CEO Ted Sarandos told CNBC that the NFL was the right fit for Netflix because it matched the streamer's event strategy — effectively allowing Netflix to own the day.","Fox and CBS Sports already produce various games in different regions each week, which could make taking on additional games for Netflix a burden, some of the people said.",0.6477434784173965,"NBCUniversal said in April its exclusive NFL wild-card game on Peacock helped to add, and then retain, more customers than expected.","""There aren't that many players in the space who are capable of doing this at a level that you would want to trust when you're launching as a new partner with a league as important as the NBA or the NFL,"" said Shirin Malkani, co-chair of the sports industry group at law firm Perkins Coie, adding that the production side ""can be a big hole for streaming partners.",2024-06-15 -"Boeing and NASA delay Starliner astronaut return to June 22, nearly doubling mission length to test spacecraft",https://www.cnbc.com/2024/06/14/boeing-and-nasa-delay-starliner-astronaut-return-to-june-22.html,2024-06-14T19:14:12+0000,"In this articleBoeing's Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS. The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET. That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.NASA said those tests include operating the capsule's hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program's managers and astronauts ""finalize departure planning and operations.""The agency also noted that Starliner would ""repeat some 'safe haven' testing,"" but did not explain why that was necessary. A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency. NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC's request for further clarification until a press conference that will be held Tuesday before the planned departure.Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions. Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.Before the launch, a single leak in Calypso's helium propulsion system was identified. The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks. NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system. Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock.NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail. Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance. NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.Starliner was once seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years. However, various setbacks and delays have steadily slipped Starliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.Correction: A previous version of this article misstated the duration of the flight test.",CNBC,14/06/2024,"['In this articleBoeing\'s Starliner capsule ""Calypso"" will stay at the International Space Station twice as long as the mission originally planned, NASA announced Friday.', ""This developmental nature of the mission, known as Boeing's crew flight test, is on display as the company and NASA are performing a variety of tests on Starliner while it is docked with the ISS."", 'The mission represents the first time Starliner carries crew, with Butch Wilmore and Suni Williams set to fly the spacecraft back to Earth next week.', 'Before launching on June 5, Boeing and NASA planned for Starliner to be in space for nine days.', ""But Calypso's mission is now expected to return to Earth on June 22, departing the ISS at 11:42 p.m. ET on June 21 before landing roughly six and half hours later, at 6:26 a.m. ET."", 'That means the Starliner crew flight test will now last at least 17 days, about double the original plan, for further spacecraft testing.', 'NASA said those tests include operating the capsule\'s hatch, firing seven of its thrusters and checking the cabin air temperature, all while the program\'s managers and astronauts ""finalize departure planning and operations.', '""The agency also noted that Starliner would ""repeat some \'safe haven\' testing,"" but did not explain why that was necessary.', 'A safe haven test is when astronauts on the ISS use a spacecraft for shelter during an emergency.', 'NASA said ""the spacecraft remains cleared for crew emergency return scenarios within the flight rules,"" referencing the possible scenario of an unexpected evacuation of the astronauts off the ISS.NASA, after publishing an update Friday, deferred CNBC\'s request for further clarification until a press conference that will be held Tuesday before the planned departure.', ""Sign up here to receive weekly editions of CNBC's Investing in Space newsletter."", 'The crew flight test represents a final major step before NASA certifies Boeing to fly crew on operational, six-month missions.', 'Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.', ""Before the launch, a single leak in Calypso's helium propulsion system was identified."", ""The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks."", 'NASA earlier this week wrote that Calypso ""has plenty of margin to support the return trip"" based on the current rate of the five leaks, with 10 times the needed capacity of helium in its tanks.', 'While Boeing was guiding Starliner in for docking, another issue — which NASA says is separate from the helium leaks — cropped up with the spacecraft propulsion system.', 'Starliner has 28 jets, known as its reaction control system, or RCS, engines, which help the spacecraft make small movements in orbit.', ""Five of the 28 thrusters were not operating but after troubleshooting, Boeing recovered four of Starliner's malfunctioning jets and NASA allowed the spacecraft to dock."", ""NASA said Friday that it would perform hot fire testing before undocking with seven of the eight thrusters near the spacecraft's tail."", ""Hot fires are very brief bursts of the thrusters, with Boeing looking to evaluate the thrusters' performance."", 'NASA did not specify whether any of the seven thrusters that will undergo testing were the same as the five that stopped operating before docking.', 'Boeing Vice President Mark Nappi said in a statement that despite the mission doubling in length, ""We have plenty of margin and time on station"" remaining.', ""Starliner wasonce seen as a competitor to SpaceX's Dragon, which has made 12 crewed trips to the ISS over the past four years."", 'However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.', 'Correction: A previous version of this article misstated the duration of the flight test.']",0.0231651503464283,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","Yet, similar to the previous two spaceflights that were uncrewed, Starliner is running into several problems during the mission.",0.2881059249242146,"The leak was deemed to be stable and not a threat to the capsule's safety, so the launch moved forward and was successful in delivering Starliner to the ISS.However, since docking with the ISS, the spacecraft has sprung four additional helium leaks.","However, various setbacks and delays have steadily slippedStarliner into a backup position for NASA, with the agency planning to have SpaceX and Boeing fly astronauts on alternating flights.",2024-06-15 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-06-15 -"National Amusements stops discussions with Skydance on Paramount deal, sources say",https://www.cnbc.com/2024/06/11/national-amusements-stops-discussions-with-skydance-on-paramount-deal-sources-say.html,2024-06-12T00:42:45+0000,"In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction. National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR. The deal had been awaiting signoff from Redstone, CNBC previously reported. National Amusements, which Redstone controls, owns 77% of class A Paramount shares.Paramount shares closed nearly 8% lower Tuesday following the report.National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.Redstone's company said it ""supports the recently announced strategic plan being executed by Paramount's Office of the CEO as well as their ongoing work and that of the Company's Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.""Paramount declined to comment. Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.The Wall Street Journal earlier reported talks had ended.""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns.Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter. The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking. The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter. A spokesperson for Phillips declined to comment. The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media. At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction. The Special Committee did not vote on any potential transaction.""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount's annual shareholder meeting, where the company's leadership outlined plans for the future.Last week, Paramount's current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company's strategic priorities in the event the company was not sold.The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets. The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell.While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support. She has approved of their ideas and leadership during their short tenure, CNBC previously reported.Redstone has controlled the future of Paramount and whether a sale would take place. She can now consider other offers for National Amusements from outside buyers. In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported. However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported. Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company. Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt.The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year. Paramount had roughly $14.6 billion in long-term debt as of March 31.",CNBC,12/06/2024,"['In this articleNational Amusements has stopped talks with Skydance on a proposed merger with Paramount Global, ending months of deal discussions without a transaction.', ""National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms on a merger with a consortium that includes David Ellison's Skydance, and private equity firms RedBird Capital and KKR."", 'The deal had been awaiting signoff from Redstone, CNBC previously reported.', 'National Amusements, which Redstone controls, owns 77% of class A Paramount shares.', 'Paramount shares closed nearly 8% lower Tuesday following the report.', 'National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.', 'Redstone\'s company said it ""supports the recently announced strategic plan being executed by Paramount\'s Office of the CEO as well as their ongoing work and that of the Company\'s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders.', '""Paramount declined to comment.', 'Spokespeople for Skydance and Redbird did not immediately respond to requests for comment.', 'The Wall Street Journal earlier reported talks had ended.', '""While National Amusements had agreed to the economic terms that Skydance offered, there were other outstanding terms on which they could not come to agreement,"" a NAI spokesperson said.', ""There's been a disconnect on why the discussions didn't amount to a deal, according to people familiar with the matter, showcasing the nature of the process that has gone on for months with various twists and turns."", 'Redstone and the special committee had asked for a so-called majority of the minority vote as part of the deal, a clause the Skydance bidding consortium found unacceptable and impracticable to add after deal talks had long started, according to people familiar with the matter.', ""The special committee's approval process, meant to determine the deal's fairness, negated the need for such a vote, according to those familiar with Ellison's thinking."", ""The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter."", 'A spokesperson for Phillips declined to comment.', 'The Special Committee of the Board of Directors of Paramount Global said, ""The Special Committee met on Tuesday to discuss progress of discussions regarding a potential transaction with Skydance Media.', ""At that time, the Special Committee was informed by a representative of National Amusements, Inc. that it did not have an agreement on a deal with Skydance Media and didn't anticipate a path forward on this transaction."", 'The Special Committee did not vote on any potential transaction.', '""The about face on the proposed deal not only comes days after Skydance and Paramount agreed to merger terms, but also after Paramount\'s annual shareholder meeting, where the company\'s leadership outlined plans for the future.', 'Last week, Paramount\'s current leadership, the so-called ""Office of the CEO"" — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — mapped out the company\'s strategic priorities in the event the company was not sold.', 'The shared leadership structure was put into place in late April, when former CEO Bob Bakish stepped down.', 'The trio outlined a plan that included exploring streaming joint venture opportunities with other media companies, eliminating $500 million in costs and divesting noncore assets.', ""The plan that was presented to shareholders was Redstone's alternative option if she chose not to sell."", 'While Redstone noted during the beginning of the shareholder presentation the unorthodox structure of the leadership team, she voiced her support.', 'She has approved of their ideas and leadership during their short tenure, CNBC previously reported.', 'Redstone has controlled the future of Paramount and whether a sale would take place.', 'She can now consider other offers for National Amusements from outside buyers.', 'In May, another potential buyer for Paramount surfaced — Apollo Global Management and Sony, which formally expressed interest in acquiring the company for $26 billion, CNBC previously reported.', 'However, Redstone favored a deal that would keep the company together, and Apollo and Sony planned to break up Paramount, separating its movie studio from other parts of the business including its broadcast network, CNBC previously reported.', 'Under those terms, which were still being ironed out up until Tuesday, Redstone would have received $2 billion in cash for National Amusements, CNBC reported.', 'Skydance would buy nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.', ""Skydance and RedBird would have also contributed $1.5 billion in cash to help reduce Paramount's debt."", ""The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year."", 'Paramount had roughly $14.6 billion in long-term debt as of March 31.']",0.2387817313043969,"National Amusements said in a statement on Tuesday it has ""not been able to reach mutually acceptable terms regarding the potential transaction with Skydance Media for the acquisition of a controlling stake in NAI.""""NAI is grateful to Skydance for their months of work in pursuing this potential transaction and looks forward to the ongoing, successful production collaboration between Paramount and Skydance,"" the statement said.","The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",0.1864744484424591,The plan outlined by Paramount's three leaders last week emphasized the reduction of debt and getting the company back to an investment-grade rating after it was lowered to junk status earlier this year.,"The Skydance bidding consortium instead blamed Redstone's inability to let go of a family asset, her desire for more money for NAI, and private comments critical of David Ellison from Paramount board member Charles Phillips as likely reasons a deal collapsed, according to people familiar with the matter.",2024-06-15 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-06-15 -The complicated partnership between Apple and OpenAI,https://edition.cnn.com/2024/06/14/tech/apple-openai-partnership/index.html," - Published - 7:00 AM EDT, Fri June 14, 2024 - ","When OpenAI CEO Sam Altman attended Apple’s annual developer conference this week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak. Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year. - - But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person or via livestream. Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies. - - “I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “Apple had to manage the message carefully. OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience. Having him in the livestream would have only created an unnecessary level of confusion.” - - Earlier this week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall – the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence. - - The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry. - - The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership. OpenAI, along with other AI companies, continues to face concerns from researchers, industry experts and government officials around misinformation, biases, copyright, privacy and security, and more. The deal also comes at a time when the industry is moving quickly, and government regulators, companies and consumers are still figuring out how to engage with the technology responsibly. - - Apple hopes that a big push into AI could spur growth for iPhone sales as the device has languished without a major upgrade for years and users are now waiting longer to upgrade their devices as a result. An uncertain economic environment is also weighing on consumers, particularly in China. - - The company also faces regulatory scrutiny in Washington and was recently passed by chip maker Nvidia as the second-largest public company in the US. In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value. - - The timing is further noteworthy: Apple is not always first to adopt and integrate emerging technologies — it typically researches, develops and aims to perfect new tech for years before including it in new products — but the speed at which the world is adopting generative AI is perhaps expediting the company’s need to have a smartphone with the latest buzzy technology. - - “Apple needed to deliver an AI story and Apple Intelligence should help placate nervous investors and reassure them that Apple is keeping pace with its rivals,” Wood added. “The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.” - - But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs. Apple alignment with a company and a technology that have yet to win public trust could also cause some challenges down the road. - - Although Apple has been working on its own AI program for years, a partnership with OpenAI marks a way for it to fill in the competitive gaps. - - When a user has a question beyond Siri’s scope, ChatGPT can step in. In the demo following the keynote, Apple showed CNN how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner. Siri may suggest that the question is better suited for ChatGPT, and provide the user with a prompt to give consent to use the service. - - Apple using ChatGPT as a complimentary service could potentially cut down on risks associated with the company. It’s also very possible Apple could partner with other AI companies in the future too, such as Google’s Gemini or more niche providers with certain expertise, such as in healthcare. - - “I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. “If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.” - - Apple has been vocal about how it intends to keep user data private and secure when using its own proprietary technology, noting most AI functions will be done on the phone and inputs will be kept away from a far-off server cloud. - - “As we look to build in these incredible new capabilities, we want to ensure that the outcome reflects the principles at the core of our products, it has to be powerful enough to help with the things that matter most to you,” Cook said during the keynote. “It has to be intuitive and easy to use. It has to be deeply integrated into your product experiences.” - - “And, of course, it has to be built with privacy, from the ground up,” he added. - - Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account. And the repeated consent prompt to require users to opt into using ChatGPT with Siri is noteworthy too; each time Siri wants to kick over a question to ChatGPT, it’ll ask for permission first. - - Wood believes the consent prompts and other guardrails that Apple is implementing “reflect its nervousness.” - - Meanwhile, Reece Hayden, a principal analyst at ABI Research, told CNN that Apple’s approach is smart because it provides customers with a choice of how to deal with their data. - - “By providing a phased approach that blends ChatGPT and native capabilities, users will worry less about the partnership,” he said. “Apple can also continue to highlight their own AI capabilities and mitigate some of the risks of being associated with OpenAI, which remains in a state of flux.” - - Companies like OpenAI have acknowledged the serious risks posed by AI — from manipulation to a loss of control that could potentially result in human extinction — but many experts, researchers and AI employees believe they should be doing more to educate the public about risks and protective measures. Just last week, a group of OpenAI insiders demanded that artificial intelligence companies be far more transparent about the concerns over the technology they’re building. - - So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI. - - In a post to X Monday, Musk said he would ban Apple devices at his companies — which include Tesla, SpaceX and X, among others — if the iPhone maker went ahead with its AI plans. If Apple “integrates OpenAI at the (operating system) level,” Musk said that would constitute “an unacceptable security violation.” - - Although concerns over how employees are using AI models is a topic of worldwide discussion at the moment across many industries, Gartner analyst Annette Zimmermann said Musk’s reaction is a bit misdirected and the topic is not specific to iPhones. - - “Any employee with a smartphone should follow company policies and not enter any private information into the open domain of ChatGPT,” she said. “This is not specific to the iPhone … or Tesla.” - - Andrew Cornwall, senior analyst at Forrester, told CNN he thinks it’s unlikely that Apple users will become loyal to ChatGPT, as many people won’t use the service unless the iPhone maker can’t provide an appropriate response. - - “When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said. “Apple may switch providers or even use more than one third party — until it has mastered its own model. At that point, Apple will shut the garden gate.”",CNN,14/06/2024,"['When OpenAI CEO Sam Altman attended Apple’s annual developer conference this week, he walked the campus, mingling with current and former executives, including Apple co-founder Steve Wozniak.', 'Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year.', 'But Altman, who has emerged as the poster child for generative AI in the 18 months since the launch of ChatGPT, was not featured in Apple’s formal presentation, neither in person or via livestream.', 'Nor did he join Apple CEO Tim Cook and other executives in a private press event about privacy and security and the partnership between the two companies.', '“I was not surprised Sam Altman did not appear on stage,” said Ben Wood, an analyst at market research firm CCS Insight in an interview with CNN. “', 'Apple had to manage the message carefully.', 'OpenAI is merely the vehicle to address broader AI-powered inquiries that are not core to the Apple experience.', 'Having him in the livestream would have only created an unnecessary level of confusion.”', 'Earlier this week, Apple showed off a handful of AI-powered features coming to the iPhone, iPad and Mac in the fall – the majority of which are fueled by the company’s own proprietary technology, called Apple Intelligence.', 'The company will offer OpenAI’s viral ChatGPT tool in a limited capacity, usually only when Siri is activated and needs more assistance answering an inquiry.', 'The move to invite Altman to the announcement but not have him appear before the public also represents in some ways how Apple is cautiously moving forward with the partnership.', 'OpenAI, along with other AI companies, continues to face concerns from researchers, industry experts and government officials around misinformation, biases, copyright, privacy and security, and more.', 'The deal also comes at a time when the industry is moving quickly, and government regulators, companies and consumers are still figuring out how to engage with the technology responsibly.', 'Apple hopes that a big push into AI could spur growth for iPhone sales as the device has languished without a major upgrade for years and users are now waiting longer to upgrade their devices as a result.', 'An uncertain economic environment is also weighing on consumers, particularly in China.', 'The company also faces regulatory scrutiny in Washington and was recently passed by chip maker Nvidia as the second-largest public company in the US.', 'In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value.', 'The timing is further noteworthy: Apple is not always first to adopt and integrate emerging technologies — it typically researches, develops and aims to perfect new tech for years before including it in new products — but the speed at which the world is adopting generative AI is perhaps expediting the company’s need to have a smartphone with the latest buzzy technology.', '“Apple needed to deliver an AI story and Apple Intelligence should help placate nervous investors and reassure them that Apple is keeping pace with its rivals,” Wood added. “', 'The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.”', 'But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs.', 'Apple alignment with a company and a technology that have yet to win public trust could also cause some challenges down the road.', 'Although Apple has been working on its own AI program for years, a partnership with OpenAI marks a way for it to fill in the competitive gaps.', 'When a user has a question beyond Siri’s scope, ChatGPT can step in.', 'In the demo following the keynote, Apple showed CNN how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner.', 'Siri may suggest that the question is better suited for ChatGPT, and provide the user with a prompt to give consent to use the service.', 'Apple using ChatGPT as a complimentary service could potentially cut down on risks associated with the company.', 'It’s also very possible Apple could partner with other AI companies in the future too, such as Google’s Gemini or more niche providers with certain expertise, such as in healthcare.', '“I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. “', 'If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.”', 'Apple has been vocal about how it intends to keep user data private and secure when using its own proprietary technology, noting most AI functions will be done on the phone and inputs will be kept away from a far-off server cloud.', '“As we look to build in these incredible new capabilities, we want to ensure that the outcome reflects the principles at the core of our products, it has to be powerful enough to help with the things that matter most to you,” Cook said during the keynote. “', 'It has to be intuitive and easy to use.', 'It has to be deeply integrated into your product experiences.”', '“And, of course, it has to be built with privacy, from the ground up,” he added.', 'Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account.', 'And the repeated consent prompt to require users to opt into using ChatGPT with Siri is noteworthy too; each time Siri wants to kick over a question to ChatGPT, it’ll ask for permission first.', 'Wood believes the consent prompts and other guardrails that Apple is implementing “reflect its nervousness.”', 'Meanwhile, Reece Hayden, a principal analyst at ABI Research, told CNN that Apple’s approach is smart because it provides customers with a choice of how to deal with their data.', '“By providing a phased approach that blends ChatGPT and native capabilities, users will worry less about the partnership,” he said. “', 'Apple can also continue to highlight their own AI capabilities and mitigate some of the risks of being associated with OpenAI, which remains in a state of flux.”', 'Companies like OpenAI have acknowledged the serious risks posed by AI — from manipulation to a loss of control that could potentially result in human extinction — but many experts, researchers and AI employees believe they should be doing more to educate the public about risks and protective measures.', 'Just last week, a group of OpenAI insiders demanded that artificial intelligence companies be far more transparent about the concerns over the technology they’re building.', 'So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI.', 'In a post to X Monday, Musk said he would ban Apple devices at his companies — which include Tesla, SpaceX and X, among others — if the iPhone maker went ahead with its AI plans.', 'If Apple “integrates OpenAI at the (operating system) level,” Musk said that would constitute “an unacceptable security violation.”', 'Although concerns over how employees are using AI models is a topic of worldwide discussion at the moment across many industries, Gartner analyst Annette Zimmermann said Musk’s reaction is a bit misdirected and the topic is not specific to iPhones.', '“Any employee with a smartphone should follow company policies and not enter any private information into the open domain of ChatGPT,” she said. “', 'This is not specific to the iPhone … or Tesla.”', 'Andrew Cornwall, senior analyst at Forrester, told CNN he thinks it’s unlikely that Apple users will become loyal to ChatGPT, as many people won’t use the service unless the iPhone maker can’t provide an appropriate response.', '“When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said. “', 'Apple may switch providers or even use more than one third party — until it has mastered its own model.', 'At that point, Apple will shut the garden gate.”']",0.1264127176766117,"The partnership with ChatGPT is a major development which beefs up Apple’s AI offerings, and new features like a significantly improved Siri will be welcome to users.”","But the partnership could also open Apple up to some vulnerability, as it has no control over OpenAI’s models or what it does with user inputs.",0.217459581115029,"In the 60 hours after Apple’s Monday event, however, the company’s stock price (AAPL) rose by as much as 10%, boosting Apple’s market capitalization by more than $300 billion, rocketing past Nvidia and putting Apple back in contention with Microsoft for largest market value.","If Apple finds that the relationship with OpenAI starts to affect the overall user experience or worse, create challenges around security and data integrity, it might look to add further guardrails, or find other ways to deliver AI-powered content.”",2024-06-15 -Stellantis plans to grow Jeep sales 50% by 2027,https://www.cnbc.com/2024/06/13/stellantis-jeep-sales-growth.html,2024-06-13T18:09:38+0000,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027. To do so, the company will grow its vehicle and powertrain offerings.""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis' investor day at its North American headquarters. ""We are going to reinforce the manufacturing footprint of Jeep.""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said. Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric. That's up from 18 currently.   ""We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon. A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV. Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck. Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier. The brand sold nearly 643,000 vehicles last year, down 6% from 2022. Jeep represented 42% of Stellantis' U.S. sales in 2023.",CNBC,13/06/2024,"['In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.', 'The trans-Atlantic automaker on Thursday said it will expand production and sales to roughly 1.5 million units by 2027.', 'To do so, the company will grow its vehicle and powertrain offerings.', '""The Jeep brand can be a local hero anywhere,"" Stellantis CEO Carlos Tavares told investors Thursday during Stellantis\' investor day at its North American headquarters. ""', 'We are going to reinforce the manufacturing footprint of Jeep.', '""Jeep plans to expand its vehicle nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa said.', 'Those vehicles will include 27 different powertrain offerings – traditional internal combustion engine, hybrid, extended-range/plug-in hybrid electric and all electric.', 'That\'s up from 18 currently. ""', 'We want to grow,"" said Filosa outlining three pillars of its strategy: customer choice of powertrains, increasing market coverage and globalization.', 'Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.', 'Jeep is expected to roll out the recently revealed Wagoneer S EV later this year, followed by a Jeep Wrangler-inspired off-road vehicle called the Recon.', 'A new mainstream unnamed midsize SUV is planned for next year to replace the discontinued, gas-powered Cherokee SUV.', 'Jeep is also planning plug-in versions of its current Wagoneer and Grand Wagoneer large SUVs.', ""A roughly $25,000 Jeep Renegade EV is expected by 2027, according to the company's investor deck."", 'Tavares announced such a vehicle last month, saying it would come to the U.S. ""very soon.', '""Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis,Teslaand others.', 'The importance of such a vehicle has grown more apparent as Chinese automakers such as BYDandNiogrow their salesof less-expensive EVsoutside of China.', ""Through the first quarter of this year, Jeep's sales totaled 31,750, up 47% from the same period a year earlier."", 'The brand sold nearly 643,000 vehicles last year, down 6% from 2022.', ""Jeep represented 42% of Stellantis' U.S. sales in 2023.""]",0.1862019152259262,"In this articleAUBURN HILLS, Mich. – Stellantis expects to grow sales of Jeep vehicles globally by 50% in the next three years, as the automaker attempts to leverage the quintessential American SUV brand for increased profits.",,0.7979354679584503,"Much of the expected growth is targeted in North America, where the brand aims to top sales of 1 million units by 2027, up from roughly 700,000 last year.","The brand sold nearly 643,000 vehicles last year, down 6% from 2022.",2024-06-15 -Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties,https://www.cnbc.com/2024/06/12/robotics-startup-synapse-ceo-exaggerated-gm-claims.html,2024-06-13T19:13:42+0000,"In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC. The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""Our team is in their Mexico factory this week to start the collection process. We would probably be the only company in this space with a dataset like this.""But, according to GM and one of the startup's founders, most of Foundation's claims related to the automaker are exaggerated or untrue.While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman.""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.""In a phone interview with CNBC, one of Foundation's cofounders, Mike LeBlanc, confirmed GM's points and said he was embarrassed that marketing materials existed that overstated their relationship.""The engineering stuff we've done is really incredible, and it's the bedrock of what this company will be,"" LeBlanc said. ""That, to me is what Foundation Robotics is.""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company's fundraising pitch.It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients. The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment.The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks.Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform. Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings.Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.",CNBC,13/06/2024,"['In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.', 'The company, called Foundation Robotics Labs, is seeking the last $1 million in funds for an $11 million seed round, according to documents obtained by CNBC.', 'The investor pitch claimed GM had already committed to an investment, along with the Menlo Park-based VC firm Tribe Capital.', '""Foundation is building humanoid robots to take over work that humans do in factories, warehouses and eventually homes,"" the startup declared.', ""On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots."", '""GM agreed to let us collect the ground truth data in their factories,"" Foundation said in the document. ""', 'Our team is in their Mexico factory this week to start the collection process.', 'We would probably be the only company in this space with a dataset like this.', '""But, according to GM and one of the startup\'s founders, most of Foundation\'s claims related to the automaker are exaggerated or untrue.', ""While GM met with Foundation executives a few times, it hasn't allowed data collection from its factories, has no agreements for robot orders and isn't planning an investment, according to a GM spokesman."", '""GM has never invested in Foundation Robotics and has no plans to do so,"" spokesman Darryll Harrison said in an emailed statement. ""', 'In fact, GM has never had an agreement of any kind with the company.', 'Any claims to the contrary are fabricated.', '""In a phone interview with CNBC, one of Foundation\'s cofounders, Mike LeBlanc, confirmed GM\'s points and said he was embarrassed that marketing materials existed that overstated their relationship.', '""The engineering stuff we\'ve done is really incredible, and it\'s the bedrock of what this company will be,"" LeBlanc said. ""', 'That, to me is what Foundation Robotics is.', '""Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics, a maker of autonomous security guards, according to the company\'s fundraising pitch.', ""It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey."", 'The misleading fundraising pitch was shared in an email group with about 1,500 startup executives and investors this month, according to one of the recipients.', 'The contents of the document were confirmed by someone with direct knowledge of Tribe Capital.', ""Tribe Capital and its cofounder Sethi declined to comment, while Pathak didn't respond to messages seeking comment."", ""The robotics startup finds itself in the spotlight after the implosion of Pathak's other company, Synapse, which enabled fintech brands like Mercury and Dave to offer banking services by connecting them to FDIC-backed banks."", 'Cofounded by Pathak in 2014, Synapse went bankrupt earlier this year after some of its largest clients, including Mercury, left its platform.', 'Mercury, which instead pursued a direct relationship with Evolve, later had disagreements with Synapse over contract issues.', ""The mess has left more than 100,000 Americans with a combined $265 million in deposits locked out of their accounts for more than a month, according to a trustee appointed to oversee the firm's bankruptcy proceedings."", 'Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.', ""Pathak's move to his next venture, coming on the heels of the still-ongoing Synapse failure, has raised eyebrows among some founders and investors in the startup community.""]",-0.0501589084925131,"On top of the seed investment, the fundraising document said GM was set to be Foundation's first customer, with a targeted $300 million purchase order, and had also provided access to its factories to help them train its robots.",In this articleA humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — claims rejected by the automaker.,-0.5666174769401551,"It's raising money at a time when American corporations look to automate more of their labor: 25% of capital spending by industrial companies in the coming years will be on automated systems, according to McKinsey.","Making matters worse, there is an $85 million shortfall between what partner banks of Synapse are holding and what depositors are owed, and no answers yet on what happened to the missing funds, according to the trustee.",2024-06-15 -Sony Pictures is buying Alamo Drafthouse theater chain,https://www.cnbc.com/2024/06/12/sony-pictures-buys-alamo-drafthouse.html,2024-06-13T03:13:23+0000,"In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas. It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.However the decree only affected some studios. While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater. It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The Egyptian Theatre and New York's Paris Theater.Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division. The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas.""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions. It was rescued by a private equity firm. However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""We were created by film lovers for film lovers. We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience. Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.",CNBC,13/06/2024,"['In this articleSony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America, the company announced Wednesday.', ""This is the first time a studio has purchased a theater chain since the Department of Justice's antitrust division terminated a decree that prohibited certain film distributors from owning exhibition companies in 2020.Enacted in 1948, the Paramount Consent Decrees ordered major studios to divest their cinemas."", 'It was a landmark antitrust decision for the motion picture industry and held firm for more than 70 years.', 'However the decree only affected some studios.', 'While Warner Bros., 20th Century Fox and MGM were barred from reentering the theater business without court approval, others like Universal, Columbia and United Artists which did not own theaters at the time of the decree were therefore not banned from acquiring them in the future.', ""Which is why Columbia Pictures, now under the Sony banner, was able to take a minority stake in the Walter Reade Organization, which owned less than a dozen theaters, in the late '80s and later acquired the Lowes Theater."", ""It is also why Disney was permitted to own the El Capitan Theatre and Netflix was able to purchase The EgyptianTheatre and New York's Paris Theater."", 'Alamo Drafthouse CEO Michael Kustermann will remain at the helm of the dine-in movie theater chain and will report to Ravi Ahuja, president and CEO of the newly formed Sony Pictures Experiences division.', ""The company's 35 cinemas will continue to be operated by Alamo Drafthouse and its headquarters will remain in Austin, Texas."", '""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.', 'The cinema company was purchased from owners Altamont Capital Partners, Fortress Investment Group and founder Tim League.', 'The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.', 'It was rescued by a private equity firm.', 'However, just last week, five North Texas locations closed after a franchisee filed for bankruptcy.', '""We are excited to make history with Sony Pictures Entertainment and have found the right home and partner for Alamo Drafthouse Cinema,"" said Kustermann. ""', 'We were created by film lovers for film lovers.', 'We know how important this is to Sony, and it serves as further evidence of their commitment to the theatrical experience.', 'Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.', '""Correction: This story was updated to accurately reflect the terms of the Paramount Consent Decrees and when studio acquisitions of theaters occurred.']",0.2755990695936975,Together we will continue to innovate and bring exciting new opportunities for our teammates and moviegoers alike.,The acquisition comes after Alamo Drafthouse filed for Chapter 11 bankruptcy protection in 2021 due to Covid-19 pandemic disruptions.,0.9728320717811584,"""We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors,"" Ahuja said in a statement.",,2024-06-15 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-06-15 -"Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial",https://www.cnbc.com/2024/06/10/moderna-combination-covid-flu-vaccine-shows-positive-late-stage-data.html,2024-06-10T11:53:11+0000,"In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial. The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax. Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview. Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year. The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid. Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.Moderna's messenger RNA combination shot, called mRNA-1083, is made up of both the company's vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot. Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials. The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients. The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above. The trial also compared Moderna's combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64. In both age groups, a single dose of Moderna's combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable. The most common side effects were injection site pain, fatigue, muscle pain and headache. The majority of those effects were mild to moderate in severity. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV. Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial. Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.",CNBC,10/06/2024,"['In this articleModerna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial.', 'The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.', ""Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview."", 'Moderna, Pfizer and Novavax have said that combination shots will simplify how people can protect themselves against respiratory viruses that typically surge around the same time of the year.', 'The added convenience is critical as fewer Americans roll up their sleeves to get vaccinated against Covid.', 'Bancel added that combination shots could reduce the burden of respiratory viruses on pharmacists and the broader U.S. health-care system, which has been grappling with a labor shortage that has many workers stretched thin.', 'Moderna\'s messenger RNA combination shot, called mRNA-1083, is made up of both the company\'s vaccine candidate for seasonal influenza and a newer, ""next-generation"" version of its Covid shot.', 'Both of those experimental vaccines – mRNA-1010 and mRNA-1283 – have shown positive results in separate phase three trials.', 'The ongoing late-stage trial on mRNA-1083 examined the combination shot in 8,000 patients.', ""The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above."", 'The trial also compared Moderna\'s combination jab with a standard flu shot called Fluarix and Spikevax in another group of participants between the ages of 50 and 64.In both age groups, a single dose of Moderna\'s combination vaccine produced ""statistically significantly higher"" immune responses against three strains of influenza and the Covid omicron variant XBB.1.5.Moderna said the safety of the combination shot, along with how well patients could tolerate it, was acceptable.', 'The most common side effects were injection site pain, fatigue, muscle pain and headache.', 'The majority of those effects were mild to moderate in severity.', 'Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial.', 'Novavax is developing a combination for those viruses as well, but its Covid shot uses protein-based technology.']",0.0396964476371143,"Moderna plans to file for regulatory approval for its combination jab this summer in the U.S. and hopes it can enter the market in 2025, the company's CEO Stephane Bancel said in an interview.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",0.7456303664616176,"The biotech company is the first to release positive phase three data on a Covid and flu combination shot, giving it a potential lead over rival vaccine makers Pfizer and Novavax.","The most common side effects were injection site pain, fatigue, muscle pain and headache.",2024-06-15 -Boeing investigated after 'Dutch roll',https://www.bbc.co.uk/news/articles/c722j0rryrxo,2024-06-14T17:02:52.917Z,"US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll. It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed. The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes. The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny. Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation. Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers. It said tests performed so far indicate that the correct alloy was used, despite the false documentation. The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely,” the company said. The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion. Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""The problem is we've lost traceability."" The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue. Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"". The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California. The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage. A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics. The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant. Safety campaigners have raised alarm about the quality of recent planes produced by Boeing. An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing. Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues. Theo Leggett contributed to this article. ",BBC,14/06/2024,"['US regulators are investigating after a Boeing 737 Max 8 flown by Southwest Airlines rocked side to side while in air, a potentially dangerous movement known as a Dutch roll.', 'It is one of two new inquiries involving Boeing planes that the Federal Aviation Administration (FAA) has recently confirmed.', 'The agency is also involved after Boeing reported learning of potentially falsified documents used to certify titanium in its planes.', 'The issues have emerged at a time when the safety record of Boeing planes is under intense scrutiny.', 'Boeing referred questions about the Southwest flight to the airline, which said it was co-operating with the investigation.', 'Boeing also said that the titanium issue was ""industry-wide"", involving shipments from a limited set of suppliers.', 'It said tests performed so far indicate that the correct alloy was used, despite the false documentation.', 'The company said it sourced the metal separately from its supplier and it believed a small number of parts had been affected. ""', 'To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely,” the company said.', 'The New York Times, which first reported the issue, said a supplier to Spirit AeroSystems, which makes parts for Boeing and European plane-maker Airbus, started looking into the issue after noticing holes from corrosion.', 'Spirit, which had alerted the two manufacturers to the problem earlier this year, said more than 1,000 tests had been completed on the suspect parts, which had been removed from production. ""', 'It is the documents that were counterfeit, not the titanium,"" spokesman Joe Buccino said. ""', 'The problem is we\'ve lost traceability.""', 'The FAA said Boeing had issued a bulletin to suppliers to be on the alert for counterfeit records and that it was probing the scope of the issue.', 'Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".', 'The so-called Dutch roll, said to have been named after an ice-skating technique attributed to the Netherlands, occurred on a 25 May flight from Phoenix, Arizona, to Oakland, California.', 'The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.', 'A post-flight inspection of the two-year-old plane revealed significant damage to a unit that provides backup power to the rudder. ""', 'Dutch roll can be unpleasant but the 737 exhibits relatively benign characteristics.', 'The time elapsed since the incident, and the absence of airworthiness action on the fleet, suggest that this is a one-off, not another widespread problem for Boeing,"" said Tim Atkinson, a former UK accident investigator-turned-consultant.', 'Safety campaigners have raised alarm about the quality of recent planes produced by Boeing.', 'An incident in which a panel broke off a plane in mid-air in January reignited concerns, sparking lawsuits and increased oversight of Boeing.', 'Boeing has slowed its production and last month presented the FAA with an action plan aimed at resolving the issues.', 'Theo Leggett contributed to this article.']",-0.0417885997781969,"Canadian transportation safety officials said in a separate statement that they were working with foreign regulators to determine a co-ordinated approach to the titanium issue, and that officials ""will not hesitate to take action"".","The FAA said the aircraft regained control and no-one on board was injured, but the plane suffered ""substantial"" damage.",-0.7044290815080915,"Our analysis shows the in-service fleet can continue to fly safely,” the company said.","The problem is we've lost traceability.""",2024-06-15 -Southwest CEO vows change as activist investor pushes for new leadership,https://www.cnbc.com/2024/06/12/southwest-ceo-vows-change-amid-activist-pressure.html,2024-06-12T16:53:03+0000,"In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.""We will adapt as our customers' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman.In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation."" He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday.Southwest on Monday said in response to the activist campaign that its board backed the company's leaders and the airline's strategy, while it will also ""look forward to further conversations with Elliott.""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises. The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion. The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system.Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience. It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years.""I think customer preference is going beyond that,"" Jordan said Wednesday. The carrier has spent months surveying customers to figure out what changes are needed, he added.""It's been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""We are also studying the operational and financial benefits of any potential change.""— CNBC's Rohan Goswami contributed to this article.",CNBC,12/06/2024,"['In this articleSouthwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts.', '""We will adapt as our customers\' needs adapt,"" Jordan said at an industry event hosted by Politico on Wednesday.', ""Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman."", 'In April, Jordan told investors that the airline is considering major changes to its product, potentially ditching its system of unassigned seating that has made the Dallas-based carrier a standout among airlines, and even reevaluating its single class of service.', 'Jordan reiterated those considerations Wednesday, saying that the airline, which started flying in 1971 and now carries more passengers in the United States than any other, is in its ""third generation.""', ""He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks."", ""Elliott didn't immediately respond to a request for comment about Jordan's remarks on Wednesday."", 'Southwest on Monday said in response to the activist campaign that its board backed the company\'s leaders and the airline\'s strategy, while it will also ""look forward to further conversations with Elliott.', '""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.', 'The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.', 'Southwest had also taken months to find its footing after a year-end holiday meltdown in 2022 cost it more than $1 billion.', ""The company later acknowledged its technology couldn't handle the hundreds of flight and crew changes triggered by a winter storm, prompting it to quickly upgrade its system."", 'Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience.', ""It's upgraded its inflight Wi-Fi and added power outlets on its fleet of Boeing 737s in recent years."", '""I think customer preference is going beyond that,"" Jordan said Wednesday.', 'The carrier has spent months surveying customers to figure out what changes are needed, he added.', '""It\'s been several years since we last studied this in-depth, and customer preferences and expectations change over time,"" an airline spokeswoman told CNBC. ""', 'We are also studying the operational and financial benefits of any potential change.""—', ""CNBC's Rohan Goswami contributed to this article.""]",0.1227597138954453,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","""Southwest has struggled with weaker margins than some of its competitors as it faces increased airline capacity in the U.S., shifting post-pandemic travel patterns and a spiraling problem that is out of its control: delays of new planes from Boeing, its sole aircraft provider, as that company grapples with several manufacturing and safety crises.",-0.1408947110176086,"He said the airline's leaders are open to big shifts to increase revenue, while rivals like Delta and United capitalize on customers willing to pay up for a seat with more space or other perks.","The airline expects to receive just 20 Max jets from Boeing this year, down from an earlier forecast for close to 80 new planes.",2024-06-15 -"Influencer Jake Paul launching men's skin, personal care line at Walmart",https://www.cnbc.com/2024/06/12/jake-paul-launching-mens-skin-care-line-walmart.html,2024-06-12T18:59:46+0000,"Jake Paul is entering a new arena: skin care.The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.The personal care line will feature products priced at less than $10 and will be available at Walmart. Later this summer, an expanded product line will be available on Amazon.""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""We just believed we had a better vision, better product and could disrupt this entire space.""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant. Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.""It's a super underserved market,"" he said. ""I believe now that more men are caring about how they look and what they are putting into their body,"" he added.As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth. From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor.And it's expected to keep seeing gains. Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.Paul isn't alone in trying to tap into the market. Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.Young men are increasingly turning to social media and influencers for their sources of information. A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past.""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines. But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.""There's a big open market for creator-led products focused on boys,"" he added.He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand.""It's still gonna be a brawl, and we both plan on ripping each other's heads off,"" he added.",CNBC,12/06/2024,"['Jake Paul is entering a new arena: skin care.', 'The YouTube influencer-turned-boxer announced on Wednesday the launch of ""W,"" a skin-care company targeted toward men.', 'The personal care line will feature products priced at less than $10 and will be available at Walmart.', 'Later this summer, an expanded product line will be available on Amazon.', '""We saw this old and outdated category where the competitors have been on the shelves in the exact same way for the past 20 years,"" Paul told CNBC. ""', 'We just believed we had a better vision, better product and could disrupt this entire space.', '""W, a reference to ""winning,"" will launch with three products: a body wash, body spray and antiperspirant deodorant.', 'Paul said the company hopes to expand with a shampoo and conditioner, face wash and hair gel in the coming months.', '""It\'s a super underserved market,"" he said. ""', 'I believe now that more men are caring about how they look and what they are putting into their body,"" he added.', ""As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth."", ""From 2018 to 2023, men's grooming was a $28 billion business globally, with an annual compound growth rate of more than 5%, according to market research company Euromonitor."", ""And it's expected to keep seeing gains."", ""Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects."", ""Paul isn't alone in trying to tap into the market."", 'Other celebrities, including Dwayne ""The Rock"" Johnson, John Legend, Idris Elba and Pharrell, have recently launched skin-care lines targeting less traditional markets.', 'Young men are increasingly turning to social media and influencers for their sources of information.', ""A Euromonitor report said that 50% of Gen Z male respondents found information about a brand, company or product through TikTok in 2023, an increase from 36% in 2022.Paul said he's taking a page from his brother Logan Paul's success with Prime, a sports drink that's popular with boys and young men, though the caffeinated energy drink version of Prime has drawn scrutiny in the past."", '""Me and my brother are like the testosterone Kardashians,"" Jake Paul said, nodding to the Kardashian sisters successfully launching their own skin-care lines.', 'But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.', '""There\'s a big open market for creator-led products focused on boys,"" he added.', ""He's also hoping that his upcoming Netflix fight, in which he'll face famed boxer Mike Tyson, will help create some momentum for the brand."", '""It\'s still gonna be a brawl, and we both plan on ripping each other\'s heads off,"" he added.']",0.4625497217074573,"As men have prioritized skin care and other beauty products in recent years, the men's grooming category has seen strong growth.",Paul isn't alone in trying to tap into the market.,0.5827901601791382,"Men's personal care is expected to grow to more than $100 billion over the next four years, with an annual compound growth rate of nearly 10%, The Business Research Company projects.","""It's a super underserved market,"" he said. """,2024-06-15 -Tesco says shoppers are buying more as confidence returns,https://www.bbc.co.uk/news/articles/c511llw8l0lo,2024-06-14T09:56:19.345Z,"The UK's biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth. The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors. It saw strong sales in its premium food range, claiming consumers are opting to dine-in more. Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting. Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". ""We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added. Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I'm well paid."" According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee. Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin. The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer. Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets."" ",BBC,14/06/2024,"['The UK\'s biggest retailer, Tesco, has said that confidence is beginning to return to shoppers after it reported ""strong"" sales growth.', 'The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.', 'It saw strong sales in its premium food range, claiming consumers are opting to dine-in more.', 'Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year, but the company defended the figure at its annual general meeting.', 'Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken\'s absolute level of pay"". ""', 'We do recruit from time to time at very senior levels from the global market and frankly we just have to be competitive with that market,"" he added.', 'Before the AGM, Ken Murphy had told reporters: ""I absolutely accept that I\'m well paid.""', ""According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee."", 'Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.', 'The retailer is planning for strong demand on match days and has observed an uptick in consumer confidence and positivity going into summer.', 'Sales of its premium ""Finest"" food range had been particularly strong, Tesco said, rising by 12.5%. “', 'We’ve continued to build momentum in the business, with strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation,"" Ken Murphy said. ""', 'Our market share reflects this, growing more than at any other time in the past two years, with customers switching to us from other retailers, shopping with us more often and with more in their baskets.""']",0.3783091490336879,"Tesco said there had been a ""gentle"" improvement in consumer sentiment and it was hoping for a boost from a summer of sport, with the Euro 2024 football tournament about to begin.","Tesco chairman Gerry Murphy said he had ""no difficulty in defending Ken's absolute level of pay"". """,0.641240266236392,"The supermarket reported an increase in UK sales of nearly 5% in the past three months, saying shoppers were putting more in their baskets and switching to Tesco from competitors.","According to the pressure group ShareAction, the Tesco CEO's salary is 430 times more than the average Tesco employee.",2024-06-15 -How Carvel’s Fudgie the Whale became a Father’s Day icon,https://edition.cnn.com/2024/06/16/food/fudgie-the-whale-carvel-history/index.html," - Published - 2:00 AM EDT, Sun June 16, 2024 - ","Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale. - - Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters. - - Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand. It was made to fill the freezer cases that founder Tom Carvel had made for his shops. Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day. - - Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented. He decided to top it with fudge, because it was one of Carvel’s most popular toppings. - - To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.” Then it’s topped with soft-serve chocolate ice cream and frozen for several hours. After that, it’s topped with hot fudge with more crunchies on the side. The cakes sell for about $30. - - Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said. - - “The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue. It’s a big holiday to bring cake home,” Salerno told CNN. - - Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too. Carvel sells nearly 100,000 Fudgies a year. - - Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past. They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm. - - Carvel could use a boost. Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data. Carvel is owned by privately held Go To Foods (f.k.a. Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio. - - “For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN. - - Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose. That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers. - - “It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.” - - Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball. - - Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades. - - The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick. Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape. - - Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state. - - It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons. Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday. - - Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion. - - For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers. - - “We as a brand made sure to keep him front and center,” Salerno said. “It’s amazing how well-known and how well loved he is.”",CNN,16/06/2024,"['Whiskey, steaks and ties are all typical gifts for Father’s Day, but one specifically made for the holiday takes the cake: Fudgie the Whale.', 'Carvel’s vanilla and chocolate-flavored ice cream cake has been a holiday staple since 1977, when it it was first created as a Father’s Day promotion, and nearly five decades later, it has earned its place in the pantheon of recognizable fast food characters.', 'Fudgie the Whale wasn’t initially produced to be a mascot for the 90-year-old brand.', 'It was made to fill the freezer cases that founder Tom Carvel had made for his shops.', 'Ice cream cakes quickly flew off the shelves, first created in the mid-1950s, and twenty years later he thought of making a cake for Father’s Day.', 'Fudgie was a play on the phrase (more commonly said back then): a “whale of a dad,” according to Carvel’s Chief Brand Officer Jim Salerno, which prompted Carvel to mass produce Fudgie using a plastic, whale-shaped mold that he invented.', 'He decided to top it with fudge, because it was one of Carvel’s most popular toppings.', 'To make the cake, soft-serve vanilla is placed into the mold first, followed by chocolate chip cookie pieces better known as “crunchies.”', 'Then it’s topped with soft-serve chocolate ice cream and frozen for several hours.', 'After that, it’s topped with hot fudge with more crunchies on the side.', 'The cakes sell for about $30.', 'Fudgie helped Father’s Day become Carvel’s busiest day of the year for buying cakes, Salerno said.', '“The simple reason is when you ask dad what they want to do on Father’s Day is that they want to stay home, like watch TV or have a barbecue.', 'It’s a big holiday to bring cake home,” Salerno told CNN.', 'Fudgie’s popularity extends beyond Father’s Day, Salerno said, popular for other occasions like birthdays and anniversaries, too.', 'Carvel sells nearly 100,000 Fudgies a year.', 'Fudgie is also part of fading piece of fast food culture, as mascots have largely become a thing of the past.', 'They have been “successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.', 'Carvel could use a boost.', 'Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.', 'Carvel is owned by privately held Go To Foods (f.k.a.', 'Focus Brands) that also has Auntie Anne’s, Jamba and Cinnabon in its portfolio.', '“For Carvel, Fudgie the Whale cakes evoke those same memories and nostalgia for consumers those that are from the East Coast, and for a relatively small regional chain Fudgie has worked its way into pop culture and probably helps keep Carvel more top of mind for consumers,” he told CNN.', 'Although Fudgie is Carvel’s most famous treat, it has a little known sibling rivalry with Cookie Puss — a goofy looking alien with a sugar cone as a nose.', 'That was actually Carvel’s first shaped cake, created about five years before Fudgie, to complement the chain’s ice cream sandwiches, known as Flying Saucers.', '“It’s supposed to be an extra-terrestrial, but some people say that they kind of fashioned it to look like Tom because it has a nice big nose, big eyes and big ears,” Salerno teased. “', 'But when Fudgie came along, Fudgie surpassed Cookie Puss very quickly.”', 'Cookie Puss remains on sale, as well as other shaped cakes like ice cream cones, bunny rabbits for Easter and various sports-themed cakes, like basketball and baseball.', 'Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.', 'The Fudgie family expanded this year with the introduction of Fudgie Pops, which are mini Fudgie cake pops on a stick.', 'Later this year, Carvel is introducing another new character cake, but Salerno is keeping mum on the shape.', 'Carvel has about 340 locations, with more than half of them in New York, but Fudgie’s fandom extends beyond the state.', 'It’s been lovingly joked about on several TV shows including Family Guy, The Office and even The Simpsons.', 'Last October, Kelly Ripa, a big Carvel fan, received a Fudgie cake on her nationally syndicated talk show “Live with Kelly and Mark” for her 53rd birthday.', 'Fudgie is hard to escape: Fudgie mascot has made appearances at New York Mets’ and Yankees games, he’s appeared in TV commercials and was even made into Fudgie the Beer in 2018 as part of a limited-time promotion.', 'For Carvel, which is celebrating its 90th year this year with a new logo and refreshed store designs to focus on its soft serve ice cream roots (Carvel claims that its founder has invented that, but others might disagree), Fudgie sparks nostalgia for consumers.', '“We as a brand made sure to keep him front and center,” Salerno said. “', 'It’s amazing how well-known and how well loved he is.”']",0.2545999209117467,It’s amazing how well-known and how well loved he is.”,"Fudgie’s mold has dual purpose to, Salerno said noting that the late Tom Carvel (he died in 1990) “was very frugal” and turned it sideways to make a Santa Claus cake, which has been on sale for about four decades.",0.743081271648407,"They have been ��successful in reaching kids and families with a memorable character that could then recreate some nostalgia and a fondness for the food and the memories of that chain,” said David Henkes, a senior principal at Technomic, a food industry research and consulting firm.","Its footprint has deceased in recent years and sales lag behind its competitors like Dairy Queen and Baskin Robbins, according to the firm’s data.",2024-06-15 -GM trims 2024 EV forecast amid slower-than-expected demand,https://www.cnbc.com/2024/06/11/gm-trims-2024-ev-sales-forecast-amid-slower-than-expected-demand.html,2024-06-11T17:51:08+0000,"In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000. The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. That milestone is still expected in the fourth quarter of this year, he said.Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May. Sales of GM's all-electric vehicles remained minuscule during the first quarter. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV. The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500. GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.The two new EVs, which share GM's ""Ultium"" EV platform and technologies, are crucial for GM's EV growth.In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year. He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of June.""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently. This allows us to continue returning cash to shareholders,"" Jacobson said in a release.Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024. A prior version of this article misstated that range.",CNBC,11/06/2024,"['In this articleDETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.', 'GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.', 'The company has recently said it will produce volume to match demand, which is growing more slowly than had been forecast.', '""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.', 'Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year.', ""That's lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units."", 'That milestone is still expected in the fourth quarter of this year, he said.', 'Jacobson said the automaker, which does not report monthly sales, sold more than 9,500 EVs in North America in May.', ""Sales of GM's all-electric vehicles remained minuscule during the first quarter."", ""EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period."", 'The Detroit automaker is in the middle of launching its newest EVs, including its new entry-level Chevrolet Equinox EV.', 'The vehicle will start at around $35,000 before EV incentives, such as a federal credit of up to $7,500.', 'GM also recently relaunched its Chevrolet Blazer EV after halting sales due to software issues.', 'The two new EVs, which share GM\'s ""Ultium"" EV platform and technologies, are crucial for GM\'s EV growth.', 'In addition to making the EVs announcement, Jacobson said the company expects its second-quarter earnings to be better than the first three months of the year.', 'He also said the automaker this month will invest $850 million into its troubled Cruise autonomous vehicle unit to help with operational cash.', 'The comments by Jacobson come after the company on Tuesday morning announced that a new $6 billion stock repurchase authorization has been approved by its board, largely backed by sales of its traditional gas-powered vehicles.', 'The new buyback authorization comes as anaccelerated $10 billionshare repurchase program announced in November 2023 is expected to be completed by the end of June.', '""We are very focused on the profitability of our [internal combustion engine] business, we\'re growing and improving the profitability of our EV business and deploying our capital efficiently.', 'This allows us to continue returning cash to shareholders,"" Jacobsonsaid in a release.', 'Correction: GM is trimming its EV production target to 200,000 to 250,000 vehicles in 2024.', 'A prior version of this article misstated that range.']",0.1281523670116651,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","""So at the lower end of that, and I think it reflects the momentum that we have in the business,"" Jacobson said Tuesday during a Deutsche Bank investor event.",0.0904689051888205,"""We are very focused on the profitability of our [internal combustion engine] business, we're growing and improving the profitability of our EV business and deploying our capital efficiently.","GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 to 300,000.",2024-06-15 -National Insurance calculator: What are NI and income tax and what do I pay?,https://www.bbc.co.uk/news/explainers-63635185,2022-11-15T17:40:23.000Z,"The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election. Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen. The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected. The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029. The party says it will scrap NI completely when it is ""affordable to do so"". The Tories had already said they will increase the tax-free personal allowance for pensioners. All other thresholds would remain frozen until 2028. The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT. They had already said they would not cut NI either, because ""the money simply isn't there"". The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028. The Liberal Democrat manifesto says the party's priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"". The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%. It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn. The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April. The government said that the two cuts were worth about £900 a year for a worker earning £35,000. For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200. Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions. The NI rate on income and profits above £50,270 remains at 2% for all workers. The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS. NI rates apply across the UK. You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year. It is not paid by people over the state pension age, even if they are working. Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life. The government records how many years of contributions you have made. Paying a lower rate of NI does not mean you contribute less. If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits. You can also make voluntary contributions to plug gaps in your record. Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds. These are the income levels at which people start paying NI or income tax, or have to pay higher rates. These used to rise every year in line with inflation. However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028. Higher-rate tax will continue to kick in for earnings above £50,270. Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates. It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans. According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers. In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off. But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off. Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year. Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits. The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270. The higher rate is 40%, and is paid on earnings between £50,271 and £125,140. Once you earn more than £100,000, you also start losing your tax-free personal allowance. You lose £1 of your personal allowance for every £2 that your income goes above £100,000. Anyone earning more than £125,140 a year no longer has any tax-free personal allowance. The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year. These apply in England, Wales and Northern Ireland. Some income tax rates are different in Scotland. In Scotland a new 45% band took effect in April. The top rate also rose from 47% to 48%. For most families, income tax is the single biggest tax they pay. But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes. For the poorest fifth of households, VAT is the biggest single tax paid. You can look at the amount of tax raised as a proportion of the size of the economy, or GDP. In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%. That puts the UK right in the middle of the G7 group of big economies. France, Italy and Germany tax more; Canada, Japan and the US tax less. However, overall taxation in the UK is high compared with historical rates. In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29. That would be the highest level in 80 years. ",BBC,15/11/2022,"['The main political parties are setting out their policies on tax and National Insurance (NI) ahead of the general election.', 'Two 2p National Insurance cuts came info effect in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen.', 'The Conservatives have promised a further 2p NI cut for employees by April 2027 if re-elected.', 'The party manifesto also pledges to reduce the main rate of NI paid by the self-employed, abolishing it by April 2029.', 'The party says it will scrap NI completely when it is ""affordable to do so"".', 'The Tories had already said they will increase the tax-free personal allowance for pensioners.', 'All other thresholds would remain frozen until 2028.', 'The Labour manifesto says the party will not increase NI, the basic, higher or additional rates of Income Tax, or VAT.', 'They had already said they would not cut NI either, because ""the money simply isn\'t there"".', 'The party previously confirmed that it would keep income tax and NI thresholds frozen until 2028.', 'The Liberal Democrat manifesto says the party\'s priority would be increasing the tax-free personal allowance for all, ""benefiting the vast majority of families and taking more low-paid workers out of paying income tax altogether"".', 'The Green Party plans to increase the NI rate on annual wages above £50,270, from 2% to 8%.', 'It would also introduce a wealth tax of 1% on all assets worth more than £10m declared in a self-assessment tax return, increasing to 2% on all assets above £1bn.', 'The starting rate for National Insurance for 27 million workers fell from 12% to 10% on 6 January 2024, and again to 8% on 6 April.', 'The government said that the two cuts were worth about £900 a year for a worker earning £35,000.', 'For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.', 'Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions.', 'The NI rate on income and profits above £50,270 remains at 2% for all workers.', 'The government uses National Insurance contributions (NICs) to pay for benefits and help fund the NHS.', 'NI rates apply across the UK.', 'You start paying NI when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year.', 'It is not paid by people over the state pension age, even if they are working.', 'Eligibility for some benefits, including the state pension, depends on the NI contributions you make across your working life.', 'The government records how many years of contributions you have made.', 'Paying a lower rate of NI does not mean you contribute less.', 'If you do not work, for example because you are a carer or claim benefits, you might be able to receive NI credits instead, which mean you will still qualify for the relevant benefits.', 'You can also make voluntary contributions to plug gaps in your record.', 'Despite the NI cuts in January and April, millions will still pay more tax overall because of changes to the tax thresholds.', 'These are the income levels at which people start paying NI or income tax, or have to pay higher rates.', 'These used to rise every year in line with inflation.', 'However, the NI threshold and tax-free personal allowance - the amount you can earn every year before you have to pay income tax - have been frozen at £12,570 until 2028.', 'Higher-rate tax will continue to kick in for earnings above £50,270.', 'Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates.', ""It will create 3.2 million extra taxpayers by 2028, and 2.6 million more people will pay higher rates, according to the Office for Budget Responsibility (OBR), which independently assesses the government's economic plans."", 'According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers.', 'In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 - from the combined tax changes - and people earning between £26,000 and £60,000 will be better off.', 'But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.', 'Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year.', 'Income tax is also paid on some benefits and pensions, income from renting out property, and returns from savings and investments above certain limits.', 'The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270.', 'The higher rate is 40%, and is paid on earnings between £50,271 and £125,140.', 'Once you earn more than £100,000, you also start losing your tax-free personal allowance.', 'You lose £1 of your personal allowance for every £2 that your income goes above £100,000.', 'Anyone earning more than £125,140 a year no longer has any tax-free personal allowance.', 'The additional rate of income tax is 45%, and is paid on all earnings above £125,140 a year.', 'These apply in England, Wales and Northern Ireland.', 'Some income tax rates are different in Scotland.', 'In Scotland a new 45% band took effect in April.', 'The top rate also rose from 47% to 48%.', 'For most families, income tax is the single biggest tax they pay.', 'But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes.', 'For the poorest fifth of households, VAT is the biggest single tax paid.', 'You can look at the amount of tax raised as a proportion of the size of the economy, or GDP.', 'In 2022 - the most recent year for which international comparisons can be made - that figure was 35.3%.', 'That puts the UK right in the middle of the G7 group of big economies.', 'France, Italy and Germany tax more; Canada, Japan and the US tax less.', 'However, overall taxation in the UK is high compared with historical rates.', 'In its assessment of the 2024 Budget, the OBR said the government would collect 37.1p of every pound generated in the economy in 2028-29.', 'That would be the highest level in 80 years.']",0.161418970260656,"But by 2027, the average earner would be only £140 better off - and only people earning between £32,000 and £55,000 a year would be better off.","For the poorest fifth of households, VAT is the biggest single tax paid.",0.0086431754262823,The top rate also rose from 47% to 48%.,"For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 have fallen from 9% to 6%, which the government said was worth £350 to a self-employed person earning £28,200.",2024-06-15 -Alan Bates learnt of birthday honours knighthood as Post Office boss was grilled,https://www.bbc.co.uk/news/articles/c722kzgp90lo,2024-06-14T21:30:48.540Z,"The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours. He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC. He was told that he had to let the Honours Committee know by the end of the day whether he would accept. For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts. He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer. Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.' And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said. He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “I think it’s another string to my bow to try and drive the rest of the campaign home. We have got to get funding for everybody. And that’s been my priority now for some time. And if it helps there, then great. It’s wonderful.” Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “I think the nation will support us if we have to go ahead with another case,” he said. The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998. Had he ever thought about giving up and letting it go? “I could never do that. We’ve all seen the horror stories, and there are so many. I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told. I mean, they’re absolutely diabolical. ""What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.” He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer. Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”. ",BBC,14/06/2024,"[""The campaigner and former sub-postmaster, Alan Bates, was at the public inquiry into the Post Office scandal when he received the news that he was to be knighted in the King's Birthday Honours."", 'He had travelled from his home in Llandudno to hear former Post Office CEO Paula Vennells give evidence, breaking her near-decade long silence. “', 'It was all a bit of a surprise,” Sir Alan, as he is now known, told the BBC.', 'He was told that he had to let the Honours Committee know by the end of the day whether he would accept.', 'For the last 15 years, Sir Alan has campaigned for justice for hundreds of sub-postmasters who were wrongfully prosecuted for theft and false accounting, when faulty software called Horizon made it look like money was missing from their accounts.', 'He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.', 'Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “', ""I went and had a confidential talk with somebody who knows what’s gone on over the years and they said to me, 'well you’ve done the heavy lifting, others are doing the rest now.'"", 'And on reflection, I knew so many people who were keen for me to actually receive something, I felt I would be insulting them as much as anyone else if I refused it at this time,"" Sir Alan said.', 'He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “', 'I think it’s another string to my bow to try and drive the rest of the campaign home.', 'We have got to get funding for everybody.', 'And that’s been my priority now for some time.', 'And if it helps there, then great.', 'It’s wonderful.”', 'Sir Alan said his work was far from finished, adding that he would pursue court action, if necessary, to get financial redress for the victims who took part in the original High Court action that helped expose the Horizon IT scandal. “', 'I think the nation will support us if we have to go ahead with another case,” he said.', ""The former sub-postmaster's dogged pursuit of the truth began after refusing to accept losses at his own post office which he took over in 1998."", 'Had he ever thought about giving up and letting it go? “', 'I could never do that.', 'We’ve all seen the horror stories, and there are so many.', 'I keep hearing from so many more these days who are coming out of the woodwork and stories that have never been told.', 'I mean, they’re absolutely diabolical. ""', 'What’s happened to people is very sad but at least they’re now starting to see some light at the end of the tunnel for themselves.”', 'He described his work as the best unpaid job he’d ever had and said he was looking forward to having a holiday this summer.', 'Many congratulated Sir Alan on his knighthood including a victim of the Post Office scandal, Christopher Head, who said he was a ""hero"" and that the knighthood was “thoroughly well-deserved”.']",0.07220490206195,"He insisted the honour was not just for him but also for his group, the Justice for Sub-Postmasters Alliance, which he started in 2009. “",Ms Vennells handed back her CBE earlier this year amid mounting pressure in the aftermath of the ITV drama in January which sparked national outrage over the scandal. “,0.3621529340744018,"And if it helps there, then great.","He had already rejected the offer of an OBE last year, telling the Honours Committee that it would be inappropriate to accept it whilst Ms Vennells kept hold of her CBE for services to the Post Office and many victims continued to suffer.",2024-06-15 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-06-15 -"Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair",https://www.cnbc.com/2024/06/10/southwest-luv-activist-elliott-stake.html,2024-06-10T20:05:51+0000,"In this articleActivist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals.Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday. Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet. Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation. Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said. Both executives started their Southwest careers in the 1980s. The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.Elliott in its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline.Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back. In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday. The company had a market capitalization of $16.6 billion as of Friday's close.Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other. But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.Elliott dismissed Southwest's upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline's leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.""Southwest's leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""A good retailer ... is always going to find ways to sell its customers more products.""Elliott said it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation. The activist also said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.Southwest isn't the only carrier facing activist pressure. Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.Elliott's campaigns at other companies have likewise centered on a change in leadership. Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances.In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American. Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.",CNBC,10/06/2024,"['In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.', 'Elliott is seeking to replace Southwest CEO Bob Jordan and Chairman Gary Kelly with outside candidates, the activist said in a letter and presentation Monday.', 'Elliott believes Southwest has fallen from a ""best-in-class"" airline to one of the biggest laggards, according to the presentation detailing its case for change.', ""The size of Elliott's stake makes the activist one of Southwest’s largest shareholders, according to FactSet."", 'Elliott said it intends to ""pursue all available pathways to deliver the leadership changes"" the fund believes Southwest needs.', 'The firm wants the airline to announce a CEO and chair transition with ""immediate"" effect, Elliott said in its presentation.', 'Jordan and Kelly have ""presided over a period of stunning underperformance at"" Southwest, Elliott said.', 'Both executives started their Southwest careers in the 1980s.', 'The airline industry usually promotes leaders from within, seeking the technical expertise needed to run the highly regulated and complex business.', ""Elliottin its presentation highlighted COO Andrew Watterson as the only member of Southwest's executive team that had experience at another airline."", 'Southwest said in a statement that its board ""is confident in our CEO and management\'s ability to execute against the company\'s strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.', '""The carrier said Elliott first contacted it on Sunday and it is keeping an ""open dialogue with our shareholders and value their perspectives related to enhancing shareholder value.', '""Southwest shares are down by more than 50% as of Friday\'s close from three years ago, when travel demand, led by domestic trips, was starting to come back.', 'In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.', ""The company had a market capitalization of $16.6 billion as of Friday's close."", 'Southwest grew from a small Texas carrier more than 50 years ago into a massive domestic airline that carries more travelers within the country than any other.', 'But the carrier has long stuck to a conservative business model, using one kind of plane, offering one class of service and not charging for checked bags, while rivals continued to hike their fees and more customers appear willing to pay up for pricier and spacious seats.', 'Elliott dismissed Southwest\'s upgrades like bigger overhead bins, better Wi-Fi and in-seat power as signs the airline\'s leadership is ""focused on incrementalism rather than an unbiased evaluation of all available opportunities.', '""Southwest\'s leaders have said they are looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.', 'Jordan, who succeeded Kelly as CEO in February 2022, told CNBC in April that the carrier is considering ditching its single class of airplane seating and longtime boarding method.', '""They missed those opportunities to give customers the option to spend more money with the airline,"" said Henry Harteveldt, a former airline executive and founder of Atmosphere Research Group. ""', 'A good retailer ... is always going to find ways to sell its customers more products.', '""Elliottsaid it spoke with numerous former Southwest employees during an 18-month research period, according to a presentation.', 'Theactivistalso said it spoke with shareholders and surveyed more than 2,000 flyers to understand why consumers chose Southwest over other airlines, according to its presentation.', 'Southwest has struggled with manufacturing and certification delays at Boeing for new 737 Max planes, the newest models of the jets which the carrier exclusively flies, as well as shifting travel demand patterns after the pandemic.', 'The airline also faced a reckoning from a holiday meltdown at the end of 2022 that cost it more than $1 billion and forced the airline long known for good customer service to win over the flying public and make quick fixes to its internal staff scheduling software.', ""Southwest isn't the only carrier facing activist pressure."", 'Carl Icahn won two board seats at JetBlue Airways in February after taking a nearly 10% stake in the New York-based carrier.', ""Elliott's campaigns at other companies have likewise centered on a change in leadership."", ""Elliott's second campaign at Crown Castle in 2023 and settlement agreement with automotive parts supplier Sensata earlier this year are just two instances."", 'In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments, a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American.', ""Correction: This story has been amended to clarify the timing of Elliott's second campaign at Crown Castle.""]",0.2267985447349857,"Southwest said in a statement that its board ""is confident in our CEO and management's ability to execute against the company's strategic plan to drive long-term value for all shareholders, safely and reliably serve our customers and deliver on our commitments to all of our stakeholders.",In this articleActivisthedge fundElliottManagement has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadershipchanges at the airline that has lagged big rivals.,0.2264580543224628,"In contrast, Delta Air Lines shares are up around 10% over that period and United Airlines shares are down about 7%.Shares of Southwest gained 7% Monday.","""Southwest shares are down by more than 50% as of Friday's close from three years ago, when travel demand, led by domestic trips, was starting to come back.",2024-06-15 -‘Inside Out 2’ jolts a sleepy summer box office,https://edition.cnn.com/2024/06/16/business/inside-out-2-summer-box-office/index.html," - Published - 5:35 PM EDT, Sun June 16, 2024 - ","It was a weekend no doubt filled with Joy for Disney. The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend. - - Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million. According to Comscore and Disney, “Inside Out 2” has also cinched the No. 2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.” It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far. - - “This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtime data from thousands of movie theaters across the United States. “We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.” - - Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office. The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season. - - Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.” - - “Disney is still in the early phases of its refocused theatrical prioritization,” he said. “Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.” - - In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster. - - “Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after “The Marvels” disappointed last November with a $47 million opening weekend. The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26. - - “The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria. - - Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data. But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.” - - “This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.",CNN,16/06/2024,"['It was a weekend no doubt filled with Joy for Disney.', 'The studio’s latest animated film, “Inside Out 2,” has rocked the lethargic summer box office, becoming the first movie of 2024 to reach $100 million in domestic sales during its opening weekend.', 'Heading for a $155 million weekend per Comscore estimates, the movie marks the most lucrative box office opening since last July’s “Barbie,” which grossed $162 million.', 'According to Comscore and Disney, “Inside Out 2” has also cinched the No.', '2 spot for the all-time highest domestic animated three-day opening, lagging less than $30 million behind 2018’s “Incredibles 2.”', 'It also beat “Dune: Part 2” as the highest-grossing opening of 2024 so far.', '“This performance came in well above our expectations,” said Daniel Loria, editorial director at Box Office Pro, which collects sales and showtimedata from thousands of movie theaters across the United States. “', 'We imagined it could … maybe match ‘Toy Story 4’s’ $120 million opening weekend, but this result is absolutely extraordinary.”', 'Industry experts agree this weekend was a turning point for both Disney and the overall domestic box office.', 'The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.', 'Shawn Robbins, founder and owner of Box Office Theory, called this opening weekend a “well-earned victory lap for Disney, Pixar, and movie theaters.”', '“Disney is still in the early phases of its refocused theatrical prioritization,” he said. “', 'Time will tell what original (intellectual property) can accomplish in the future and how consistently they can generate these types of performances again, but this is a major rebound for the parent company and for Pixar after a string of underperformers on both sides.”', 'In addition to production delays that have plagued studios as a result of the multi-month-long Writers Guild and SAG-AFTRA strikes last year, Disney’s recent Marvel fare has been lackluster.', '“Deadpool & Wolverine,” the only Marvel property release this summer, is expected to reinvigorate audience enthusiasm after“The Marvels” disappointed last Novemberwith a $47 million opening weekend.', 'The third R-rated installment featuring the foul-mouthed anti-hero is set to hit theaters July 26.', '“The story of the summer was always going to come down to how Pixar (‘Inside Out 2’) and Marvel (‘Deadpool & Wolverine’) rebounded,” said Loria.', 'Domestic box office totals since the beginning of May are still down by about 28% compared to this time last year, according to Comscore data.', 'But senior analyst Paul Dergarabedian said “Inside Out 2” marks a “major turning point” for theaters, adding it only takes “one or two overperforming films to change the entire narrative.”', '“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.']",0.136589664167877,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",0.4915643018834731,"“This the best possible news for Pixar, movie theatres and indeed rival studios whose own upcoming summer films (including the family friendly ‘Despicable Me 4’) will enjoy the tailwinds brought on by the amount of interest and increased foot traffic at the multiplex,” Dergarabedian noted.","The summer has been off to a lukewarm start following a devastatingly low turnout Memorial Day weekend, which traditionally kicks off the season.",2024-06-15 -Class action suit alleges Raytheon discriminates against older job seekers,https://edition.cnn.com/2024/06/11/business/raytheon-lawsuit-job-discrimination/index.html," - Published - 2:28 PM EDT, Tue June 11, 2024 - ","A class action lawsuit filed Tuesday alleges that RTX Corporation, the multinational aerospace and defense systems giant formerly known as Raytheon Technologies, has been discriminating against job seekers who are 40 years or older. - - The complaint, filed by the AARP Foundation and two law firms at the US District Court for the District of Massachusetts, asserts that the language used in certain Raytheon job ads indicates a preference for younger workers in violation of the federal Age Discrimination in Employment Act, the Massachusetts Fair Employment Practices Act and the Virginia Human Rights Act. The company had been headquartered in Massachusetts and recently relocated to Virginia. - - “The language and content of these job advertisements discourages and deters many older workers from even applying for the Recent Graduate Positions and prevents older workers who do apply from advancing in the hiring process because too much time has passed since they graduated …  and/or entered the workforce,” the complaint said. - - The ads that refer to “Recent Graduate Positions” indicate that applicants should either have graduated from college or graduate school very recently or have no more than 12 or 24 months of related work experience. While the positions may be lower level, they are not necessarily low paying, with salary ranges that can run north of $100,000. - - In response, RTX rejected the premise of the allegations. - - “RTX complies with all relevant age discrimination laws and we’re committed to maintaining a diverse workforce. We believe these claims are entirely without merit and we will actively defend our hiring practices,” company spokesman Chris Johnson told CNN. - - The suit currently has just one named plaintiff — Mark H. Goldstein — but is brought on behalf of “all others similarly situated.” More named individuals may join the suit later, said Peter Romer-Friedman, one of the lead lawyers on the case. - - Goldstein, 67, has roughly four decades of experience in “project management, cybersecurity, technology, risk management, security engineering, sales, marketing, engineering, business, and consulting,” according to the complaint. In addition, it said, Goldstein has experience as a contractor for the US Department of Homeland Security, has held a federal government security clearance and has two key information security and privacy certifications. - - Between 2019 and 2023, Goldstein applied to at least seven of Raytheon’s recent graduate positions for which he met all the qualifications save those requiring the newness of his degrees or the short duration of work experience. - - “Despite the fact that Mr. Goldstein has been genuinely interested in a position with Raytheon, committed to relocating, if necessary, and has skills that Raytheon needs to address a years’ long labor shortage, Raytheon has not hired Mr. Goldstein for any of the positions to which he applied, has never offered him an interview, and has failed to seriously consider Mr. Goldstein’s applications based on his age,” the complaint said. - - Goldstein had filed a charge of discrimination with the Equal Employment Opportunity Commission in 2019. In 2021, the EEOC declared in a letter that its “investigation revealed that [Mr. Goldstein] was denied the opportunity to be considered for the [Recent Graduate Positions] he had applied for because of his age, and not because he did not meet the minimum qualifications required for the jobs,” according to the complaint. “It also found that Raytheon’s discriminatory advertisements had violated the ADEA, explaining that: ‘EEOC believes [Raytheon’s] job advertisements included language that violates the ADEA in that it indicated a hiring preference for applicants who are not in the protected age group.’” - - In response to the EEOC’s 2021 determination, Raytheon tweaked some language in job ads, but in ways that still discriminate against older job seekers, the complaint alleges. - - Goldstein filed a second charge of discrimination with the EEOC in July 2023. The agency is still investigating that matter, Romer-Friedman noted.",CNN,11/06/2024,"['A class action lawsuit filed Tuesday alleges that RTX Corporation, the multinational aerospace and defense systems giant formerly known as Raytheon Technologies, has been discriminating against job seekers who are 40 years or older.', 'The complaint, filed by the AARP Foundation and two law firms at the US District Court for the District of Massachusetts, asserts that the language used in certain Raytheon job ads indicates a preference for younger workers in violation of the federal Age Discrimination in Employment Act, the Massachusetts Fair Employment Practices Act and the Virginia Human Rights Act.', 'The company had been headquartered in Massachusetts and recently relocated to Virginia.', '“The language and content of these job advertisements discourages and deters many older workers from even applying for the Recent Graduate Positions and prevents older workers who do apply from advancing in the hiring process because too much time has passed since they graduated … and/or entered the workforce,” the complaint said.', 'The ads that refer to “Recent Graduate Positions” indicate that applicants should either have graduated from college or graduate school very recently or have no more than 12 or 24 months of related work experience.', 'While the positions may be lower level, they are not necessarily low paying, with salary ranges that can run north of $100,000.', 'In response, RTX rejected the premise of the allegations.', '“RTX complies with all relevant age discrimination laws and we’re committed to maintaining a diverse workforce.', 'We believe these claims are entirely without merit and we will actively defend our hiring practices,” company spokesman Chris Johnson told CNN.', 'The suit currently has just one named plaintiff — Mark H. Goldstein — but is brought on behalf of “all others similarly situated.”', 'More named individuals may join the suit later, said Peter Romer-Friedman, one of the lead lawyers on the case.', 'Goldstein, 67, has roughly four decades of experience in “project management, cybersecurity, technology, risk management, security engineering, sales, marketing, engineering, business, and consulting,” according to the complaint.', 'In addition, it said, Goldstein has experience as a contractor for the US Department of Homeland Security, has held a federal government security clearance and has two key information security and privacy certifications.', 'Between 2019 and 2023, Goldstein applied to at least seven of Raytheon’s recent graduate positions for which he met all the qualifications save those requiring the newness of his degrees or the short duration of work experience.', '“Despite the fact that Mr. Goldstein has been genuinely interested in a position with Raytheon, committed to relocating, if necessary, and has skills that Raytheon needs to address a years’ long labor shortage, Raytheon has not hired Mr. Goldstein for any of the positions to which he applied, has never offered him an interview, and has failed to seriously consider Mr. Goldstein’s applications based on his age,” the complaint said.', 'Goldstein had filed a charge of discrimination with the Equal Employment Opportunity Commission in 2019.', 'In 2021, the EEOC declared in a letter that its “investigation revealed that [Mr. Goldstein] was denied the opportunity to be considered for the [Recent Graduate Positions] he had applied for because of his age, and not because he did not meet the minimum qualifications required for the jobs,” according to the complaint. “', 'It also found that Raytheon’s discriminatory advertisements had violated the ADEA, explaining that: ‘EEOC believes [Raytheon’s] job advertisements included language that violates the ADEA in that it indicated a hiring preference for applicants who are not in the protected age group.’”', 'In response to the EEOC’s 2021 determination, Raytheon tweaked some language in job ads, but in ways that still discriminate against older job seekers, the complaint alleges.', 'Goldstein filed a second charge of discrimination with the EEOC in July 2023.', 'The agency is still investigating that matter, Romer-Friedman noted.']",-0.0863884194657294,"In addition, it said, Goldstein has experience as a contractor for the US Department of Homeland Security, has held a federal government security clearance and has two key information security and privacy certifications.","It also found that Raytheon’s discriminatory advertisements had violated the ADEA, explaining that: ‘EEOC believes [Raytheon’s] job advertisements included language that violates the ADEA in that it indicated a hiring preference for applicants who are not in the protected age group.’”",-0.945488914847374,,"In 2021, the EEOC declared in a letter that its “investigation revealed that [Mr. Goldstein] was denied the opportunity to be considered for the [Recent Graduate Positions] he had applied for because of his age, and not because he did not meet the minimum qualifications required for the jobs,” according to the complaint. “",2024-06-15 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-06-15 -Wizz Air ranked worst airline for delays for third year,https://www.bbc.co.uk/news/articles/clddx2q7y7go,2024-06-13T13:41:22.892Z,"Wizz Air has been named the worst airline for UK flight delays for the third year in a row. The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency. Turkish Airlines recorded the second worst punctuality followed by Tui. The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes. Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"". The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights. Cancelled flights were not included. After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds. Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"". She added that research by Which? showed the airline was also falling short on the quality of customer service experienced by passengers. ""Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive' prices across a variety of popular routes,"" she added. Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports. Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year. Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector. A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers."" Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry. He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK. Punctuality has ""continued to exponentially improve"" this year, he said. ",BBC,13/06/2024,"['Wizz Air has been named the worst airline for UK flight delays for the third year in a row.', ""The carrier's departures from UK airports were an average of 31 minutes and 36 seconds behind schedule in 2023, according to analysis of official data by the PA news agency."", 'Turkish Airlines recorded the second worst punctuality followed by Tui.', 'The generally poor showing comes as airlines fares have been rising as a result of higher fuel costs and green taxes.', 'Wizz Air said it had made ""significant improvements"" but acknowledged there was ""still work to be done"".', 'The analysis of Civil Aviation Authority data covered scheduled and chartered departures from UK airports, by airlines operating more than 2,500 flights.', 'Cancelled flights were not included.', 'After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.', 'Consumer affairs expert Jane Hawkes told the BBC the findings would ""likely come as zero surprise to passengers who have endured lengthy delays on Wizz Air services"".', 'She added that research by Which?', 'showed the airline was also falling short on the quality of customer service experienced by passengers. ""', 'Irritatingly, but again not unsurprisingly, profits are soaring [at Wizz] in line with fares as passengers opt for airlines which offer seemingly ‘competitive\' prices across a variety of popular routes,"" she added.', ""Wizz Air's UK operations serve Aberdeen, Birmingham, Gatwick, Glasgow, Leeds, Liverpool and Luton airports."", 'Passenger numbers at the Hungarian carrier - which operates in Europe, north Africa, the Middle East and other parts of Asia - hit a record 62 million in the 12 months to the end of March, up by more than a fifth on the previous year.', 'Over the same period revenue from ticket sales rose 11.2% year-on-year, similar to rises across the airline sector.', 'A Wizz Air spokeswoman said: ""In 2022, like all airlines in Europe, Wizz Air experienced extraordinary operating challenges driven mostly by the external environment. ""', 'Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""', 'Dale Keller, chief executive of the Board of Airline Representatives in the UK, which represents carriers, said 2023 had been ""an extremely challenging year” for the industry.', ""He added that many delays were caused by factors outside of airlines' control, such as air traffic control disruption including strikes in France and the National Air Traffic Services meltdown last August which grounded flights across the UK."", 'Punctuality has ""continued to exponentially improve"" this year, he said.']",-0.0568331509592643,"Since then, we have invested more than £90m to stabilise operations, reduce the number of delays and provide a better experience for customers.""","After Wizz Air, PA said the worst airlines for delays were: Irish carrier Emerald Airlines was the most punctual airline with an average delay of just 13 minutes and six seconds, while Virgin Atlantic came second at 13 minutes and 42 seconds.",-0.0617415785789489,"Punctuality has ""continued to exponentially improve"" this year, he said.",Wizz Air has been named the worst airline for UK flight delays for the third year in a row.,2024-06-15 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-06-15 -Here’s how to invest in stocks when interest rates are higher for longer,https://edition.cnn.com/2024/06/14/investing/premarket-stocks-trading-higher-longer-rates/index.html," - Published - 7:49 AM EDT, Fri June 14, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - At least one interest rate cut is still on the table for 2024, but in the short term, higher US borrowing costs are here to stay. - - The Federal Reserve on Wednesday held rates steady for the seventh consecutive time and penciled in just one cut this year, down from the three it first projected last December. - - Recent economic data has encouraged investors that inflation is cooling again after showing signs of sticking earlier this year. The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs. - - Still, traders are widely expecting the central bank to keep rates where they are again in July. If the Fed does indeed hold off on changes, interest rates will stay at their current 23-year high until at least September. - - How should traders invest in a higher-for-longer rate environment? Before the Bell spoke with Wylie Tollette, chief investment officer at Franklin Templeton Investment Solutions. - - This interview has been edited for length and clarity. - - Before the Bell: What do higher-for-longer rates mean for the stock market? - - The stock market is always forward-looking, and I think the market may have already priced in the fewer rate cuts [before the Fed meeting]. As we’ve seen throughout the year, the expectation for rate cuts has been steadily declining. - - What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates. I think that we expected, consistent with most financial economists and investors, higher rates to really begin biting the economy more quickly and more significantly last year. - - As it turns out, I think our new hypothesis, based on everything we’ve seen, is that these higher-for-longer rates are really just a return to a more normal rate environment, sort of a pre-global financial crisis rate environment. - - Which stocks could perform poorly due to higher-for-longer rates? - - There will be some sectors that higher-for-longer rates will impact. And we’ve already seen some of them. For example, real estate. Most real estate is financed. Commercial real estate in particular, offices and retail, I think will continue to suffer. We’ve seen that already, and I think there’s probably still some more pain to come. - - Another area like cars, the big purchases that many consumers finance. Obviously, higher-for-longer rates makes that financing more expensive. And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment. - - In general, smaller-cap stocks, most regardless of sector, will probably have a harder time in this environment right now. - - What about stocks that could perform well in a higher-rate environment? - - Semiconductors, those we think will continue to do well. They’ve almost become the new defensives because they have so much cash on their balance sheet. They don’t rely on financing to finance their internal growth and investment, and their demand cycles aren’t terribly sensitive to higher interest rates. And we’ve seen that already priced into a lot of Big Tech. The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates. - - Energy and materials traditionally do reasonably well in higher-for-longer rates. - - We’ve seen utilities rally. We actually think that could continue. There’s just a lot of demand for electricity with electric vehicles and artificial intelligence. We see utilities needing to increase supply and really being under pressure to do that, which provides an interesting and perhaps a rare opportunity to actually benefit and see some real growth in the utility sector. - - Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement — and the economy, according to a new report released this week. - - Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP, reports my colleague Jeanne Sahadi. - - The report includes findings from its latest annual World Poll, which surveyed 128,278 employees in more than 140 countries last year. - - That poll found that roughly 20% of workers globally reported feeling lonely, angry or sad on a daily basis. And 41% on average say they feel stress. - - Those most likely to say they feel lonely were younger workers (22%), employees who worked remotely full-time (25%) and those who felt most disengaged on the job (31%). - - While work isn’t always the cause of a person’s negative daily emotions, employers should still be concerned. That’s because work can either improve or worsen employees’ well-being. - - On the one hand, the Gallup report noted, “when employees find their work and work relationships meaningful, employment is associated with high levels of daily enjoyment and low levels of all negative daily emotions. Notably, half of employees who are engaged at work are thriving in life overall.” - - On the other, researchers found that being disengaged at work can negatively affect a person’s wellbeing as much as — or more than — not having a job at all. “Employees who dislike their jobs tend to have high levels of daily stress and worry, as well as elevated levels of all other negative emotions,” they wrote. “On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.” - - Read more here. - - Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing. - - Apple’s market cap closed at roughly $3.29 trillion on Thursday, above Microsoft’s $3.28 trillion. Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week. Microsoft shares rose 0.1% on Thursday. - - The iPhone maker’s comeback comes just a week after Nvidia on June 5 surpassed it to become the second-largest public US company. Nvidia now ranks third, behind Microsoft. - - Read more here.",CNN,14/06/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'At least one interest rate cut is still on the table for 2024, but in the short term, higher US borrowing costs are here to stay.', 'The Federal Reserve on Wednesday held rates steady for the seventh consecutive time and penciled in just one cut this year, down from the three it first projected last December.', 'Recent economic data has encouraged investors that inflation is cooling again after showing signs of sticking earlier this year.', 'The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs.', 'Still, traders are widely expecting the central bank to keep rates where they are again in July.', 'If the Fed does indeed hold off on changes, interest rates will stay at their current 23-year high until at least September.', 'How should traders invest in a higher-for-longer rate environment?', 'Before the Bell spoke with Wylie Tollette, chief investment officer at Franklin Templeton Investment Solutions.', 'This interview has been edited for length and clarity.', 'Before the Bell: What do higher-for-longer rates mean for the stock market?', 'The stock market is always forward-looking, and I think the market may have already priced in the fewer rate cuts [before the Fed meeting].', 'As we’ve seen throughout the year, the expectation for rate cuts has been steadily declining.', 'What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates.', 'I think that we expected, consistent with most financial economists and investors, higher rates to really begin biting the economy more quickly and more significantly last year.', 'As it turns out, I think our new hypothesis, based on everything we’ve seen, is that these higher-for-longer rates are really just a return to a more normal rate environment, sort of a pre-global financial crisis rate environment.', 'Which stocks could perform poorly due to higher-for-longer rates?', 'There will be some sectors that higher-for-longer rates will impact.', 'And we’ve already seen some of them.', 'For example, real estate.', 'Most real estate is financed.', 'Commercial real estate in particular, offices and retail, I think will continue to suffer.', 'We’ve seen that already, and I think there’s probably still some more pain to come.', 'Another area like cars, the big purchases that many consumers finance.', 'Obviously, higher-for-longer rates makes that financing more expensive.', 'And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment.', 'In general, smaller-cap stocks, most regardless of sector, will probably have a harder time in this environment right now.', 'What about stocks that could perform well in a higher-rate environment?', 'Semiconductors, those we think will continue to do well.', 'They’ve almost become the new defensives because they have so much cash on their balance sheet.', 'They don’t rely on financing to finance their internal growth and investment, and their demand cycles aren’t terribly sensitive to higher interest rates.', 'And we’ve seen that already priced into a lot of Big Tech.', 'The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates.', 'Energy and materials traditionally do reasonably well in higher-for-longer rates.', 'We’ve seen utilities rally.', 'We actually think that could continue.', 'There’s just a lot of demand for electricity with electric vehicles and artificial intelligence.', 'We see utilities needing to increase supply and really being under pressure to do that, which provides an interesting and perhaps a rare opportunity to actually benefit and see some real growth in the utility sector.', 'Employees’ negative daily emotions and lack of well-being can ultimately hurt worker engagement — and the economy, according to a new report released this week.', 'Gallup, in its “State of the Global Workplace,” estimates that low employee engagement costs the global economy $8.9 trillion, or 9% of global GDP, reports my colleague Jeanne Sahadi.', 'The report includes findings from its latest annual World Poll, which surveyed 128,278 employees in more than 140 countries last year.', 'That poll found that roughly 20% of workers globally reported feeling lonely, angry or sad on a daily basis.', 'And 41% on average say they feel stress.', 'Those most likely to say they feel lonely were younger workers (22%), employees who worked remotely full-time (25%) and those who felt most disengaged on the job (31%).', 'While work isn’t always the cause of a person’s negative daily emotions, employers should still be concerned.', 'That’s because work can either improve or worsen employees’ well-being.', 'On the one hand, the Gallup report noted, “when employees find their work and work relationships meaningful, employment is associated with high levels of daily enjoyment and low levels of all negative daily emotions.', 'Notably, half of employees who are engaged at work are thriving in life overall.”', 'On the other, researchers found that being disengaged at work can negatively affect a person’s wellbeing as much as — or more than — not having a job at all. “', 'Employees who dislike their jobs tend to have high levels of daily stress and worry, as well as elevated levels of all other negative emotions,” they wrote. “', 'On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.”', 'Read more here.', 'Apple edged past Microsoft on Thursday to become the most valuable public company in the United States, as announcements made at its annual Worldwide Developers Conference including generative AI features for iPhones sent the stock climbing.', 'Apple’s market cap closed at roughly $3.29 trillion on Thursday, above Microsoft’s $3.28 trillion.', 'Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week.', 'Microsoft shares rose 0.1% on Thursday.', 'The iPhone maker’s comeback comes just a week afterNvidia on June 5 surpassed itto become the second-largest public US company.', 'Nvidia now ranks third, behind Microsoft.', 'Read more here.']",0.0208692851665589,"The Magnificent Seven, we actually continue to see pretty strong growth prospects for those companies in the face of higher rates.","On many wellbeing items (stress, anger, worry, loneliness), being actively disengaged at work is equivalent to or worse than being unemployed.”",0.0201159505283131,Apple shares (AAPL) rose 0.6% on Thursday and have popped 8.8% so far this week.,"The Consumer and Producer Price Index reports for May both came in softer than expected this week, helping lead stocks to record highs.",2024-06-15 -The end of Infowars? Judge to decide fate of Alex Jones’ conspiracy empire in Sandy Hook families’ quest for justice,https://edition.cnn.com/2024/06/14/media/infowars-liquidation-alex-jones-sandy-hook-families/index.html," - Published - 7:01 AM EDT, Fri June 14, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - Alex Jones’ conspiracy empire is on the brink. - - The fate of the right-wing extremist’s Infowars outlet could be decided on Friday as a Texas bankruptcy court hears a high-stakes motion filed by the families of the Sandy Hook victims over whether to liquidate the company. - - The families, who have yet to see a penny of the approximately $1.5 billion in judgments they are owed, have argued to the court that there is “no prospect” the company can produce a proper reorganization plan under a Chapter 11 bankruptcy. After years of waiting, they have asked the court to liquidate Jones’ Free Speech Systems, the parent of Infowars. - - If the judge rules in favor of Sandy Hook families, Infowars would be shuttered. In such a scenario, a court-appointed trustee would be tasked with securing the assets and then selling off Jones’ media empire, including the website, studio space, and broadcasting equipment. - - “Infowars would no longer exist,” Christopher Mattei, an attorney who represents some of the Sandy Hook families, explained this week to CNN’s Hadas Gold. - - The process could play out quickly, denying Jones the megaphone he has used for decades to spread dangerous and hateful conspiracy theories. Since founding Infowars in the late 1990s, Jones has poisoned the public discourse with toxic commentary, most notably pushing the lie that the 2012 Newtown, Connecticut, shooting was a so-called “false flag” operation staged by the government and that the grieving family members of 20 child victims were “actors.” Jones, who hawks high-priced dietary supplements to his audience, has used the lies to enrich himself to the tune of millions of dollars. - - While juries in Texas and Connecticut punished Jones, awarding the Sandy Hook families hundreds of millions of dollars, the radical host has been able to continue operating his conspiracy empire after filing for Chapter 11 bankruptcy protection. Jones, who also filed for personal bankruptcy protection, moved to liquidate his personal assets last week, meaning that even if the judge does not order such a move for his company, it will ultimately mean he no longer owns Infowars in the future. - - While it’s possible that the liquidation of Jones’ company, if ordered by the court on Friday, could lead to its ultimate demise, a court-appointed trustee could opt to sell the company to a potential buyer. Perhaps a fellow conspiracy theorist, such as Tucker Carlson, who is trying to gain traction with his own media startup, would be interested in purchasing the assets. But the attorneys representing Sandy Hook families expect that the most likely scenario is Jones’ Infowars empire will be sold off, piece by piece, with the proceeds going to their clients. - - The outlet’s potential demise is the latest instance in which the legal system is holding right-wing media outlets accountable for their lies. Companies operated by dishonest conspiracy profiteers rarely — if ever — admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record. - - In the last year, Fox News paid a historic $787.5 million settlement to voting technology company Dominion Voting Systems. The Gateway Pundit filed for bankruptcy protection. One America News settled a case with voting technology company Smartmatic. Salem Media Group apologized for and stopped distributing an election denialist documentary from Dinesh D’Souza. And several cases are still pending in the legal system. - - While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies. Of course, no monetary award can ever heal the wounds inflicted by the reprehensible lies Jones told about Sandy Hook, dishonoring the children massacred that day and tormenting their families for years. But the liquidation of Jones’ assets will represent some progress. - - “If the judge ordered Alex Jones’ business to be liquidated… that will be a moment the families can take some pride in,” Mattei said. “Their objective has long been to protect their families and other families from the type of harm that Alex Jones inflicted on them for years.”",CNN,14/06/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Alex Jones’ conspiracy empire is on the brink.', 'The fate of the right-wing extremist’sInfowarsoutlet could be decided on Friday as a Texas bankruptcy court hears a high-stakes motion filed by the families of theSandy Hookvictims over whether to liquidate the company.', 'The families, who have yet to see a penny of the approximately $1.5 billion in judgments they are owed, have argued to the court that there is “no prospect” the company can produce a proper reorganization plan under a Chapter 11 bankruptcy.', 'After years of waiting, they have asked the court to liquidate Jones’Free Speech Systems, the parent of Infowars.', 'If the judge rules in favor of Sandy Hook families, Infowars would be shuttered.', 'In such a scenario, a court-appointed trustee would be tasked with securing the assets and then selling off Jones’ media empire, including the website, studio space, and broadcasting equipment.', '“Infowars would no longer exist,”Christopher Mattei, an attorney who represents some of the Sandy Hook families, explained this week to CNN’sHadas Gold.', 'The process could play out quickly, denying Jones the megaphone he has used for decades to spread dangerous and hateful conspiracy theories.', 'Since founding Infowars in the late 1990s, Jones has poisoned the public discourse with toxic commentary, most notably pushing the lie that the 2012 Newtown, Connecticut, shooting was a so-called “false flag” operation staged by the government and that the grieving family members of 20 child victims were “actors.”', 'Jones, who hawks high-priced dietary supplements to his audience, has used the lies to enrich himself to the tune of millions of dollars.', 'While juries in Texas and Connecticut punished Jones, awarding the Sandy Hook families hundreds of millions of dollars, the radical host has been able to continue operating his conspiracy empire after filing for Chapter 11 bankruptcy protection.', 'Jones, who also filed for personal bankruptcy protection, moved toliquidate his personal assetslast week, meaning that even if the judge does not order such a move for his company, it will ultimately mean he no longer owns Infowars in the future.', 'While it’s possible that the liquidation of Jones’ company, if ordered by the court on Friday, could lead to its ultimate demise, a court-appointed trustee could opt to sell the company to a potential buyer.', 'Perhaps a fellow conspiracy theorist, such asTucker Carlson, who is trying to gain traction with his own media startup, would be interested in purchasing the assets.', 'But the attorneys representing Sandy Hook families expect that the most likely scenario is Jones’ Infowars empire will be sold off, piece by piece, with the proceeds going to their clients.', 'The outlet’s potential demise is the latest instance in which the legal system is holding right-wing media outlets accountable for their lies.', 'Companies operated by dishonest conspiracy profiteers rarely —if ever— admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record.', 'In the last year,Fox Newspaid a historic $787.5 million settlementto voting technology companyDominion Voting Systems.', 'The Gateway Punditfiled for bankruptcy protection.', 'One America Newssettled a casewith voting technology companySmartmatic.', 'Salem Media Groupapologized for and stopped distributingan election denialist documentary fromDinesh D’Souza.', 'And several cases are still pending in the legal system.', 'While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies.', 'Of course, no monetary award can ever heal the wounds inflicted by the reprehensible lies Jones told about Sandy Hook, dishonoring the children massacred that day and tormenting their families for years.', 'But the liquidation of Jones’ assets will represent some progress.', '“If the judge ordered Alex Jones’ business to be liquidated… that will be a moment the families can take some pride in,” Mattei said. “', 'Their objective has long been to protect their families and other families from the type of harm that Alex Jones inflicted on them for years.”']",-0.1134271641384359,But the liquidation of Jones’ assets will represent some progress.,"Companies operated by dishonest conspiracy profiteers rarely —if ever— admit to wrongdoing unless they are either threatened by or face legal action, leaving the courts the only real avenue for victims of lies to correct the public record.",0.2628013372421264,"While the wheels of the legal system turn slowly, they have been proven to be effective in helping victims recoup some of the damages for the lies.",Salem Media Groupapologized for and stopped distributingan election denialist documentary fromDinesh D’Souza.,2024-06-15 -Why Shari Redstone called off talks with David Ellison’s Skydance on Paramount deal,https://edition.cnn.com/2024/06/12/media/shari-redstone-david-ellison-skydance-paramount-deal/index.html," - Published - 8:22 AM EDT, Wed June 12, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - Shari Redstone has finally spoken. - - After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress called off talks with David Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire. - - The deal went up in flames at the one-yard line. Just as Paramount’s special committee was set to vote on the deal, lawyers representing the Redstone holding company National Amusements Inc. sent word that she had moved to end merger discussions, CNN was told. - - Why Redstone ultimately vetoed the deal is now up for discussion. Was Redstone irked by the latest financials of the offer? Was she afraid of shareholder litigation? Is legacy at play? Or is it simply that Redstone just cannot let go of the empire her father, Sumner, built? - - The answer, of course, depends — greatly — on who you ask. - - One narrative that has emerged is that, while the two parties had agreed on the economic terms, there were still outstanding issues they had not been able to see eye-to-eye on. Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders. Redstone had advocated for a vote to protect against potential lawsuits; Skydance resisted. - - “That was an important term,” a person close to the matter told CNN. - - The competing narrative is that Skydance had made a competitive offer. Ellison and his backers, led by Redbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations. In this version of events, the real reason a transaction is not taking place is because Redstone, advised by Ellison foe Charles Phillips, simply got cold feet. - - “Shari got spooked,” as one person bluntly told CNN. - - Regardless of the cause, the deal is not happening — and squabbling about the reason it could not get across the finish line does not change that reality. Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work. - - And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way. Over the course of the last few months, Bob Bakish was ousted as chief executive of Paramount Global and four directors resigned from the company’s board. The corporate drama, as many observers have pointed out, has been akin to a real-life “Succession.” - - NAI, which has received interest from other parties and will now explore them, offered support Tuesday afternoon for the Office of the CEO at Paramount Global, the post-Bakish triumvirate made up of Brian Robbins, George Cheeks and Chris McCarthy. The trio last week outlined a plan for the company, which includes exploring a joint streaming venture, finding synergies, and reducing costs by $500 million. - - “NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement. - - NAI also said it “looks forward to the ongoing, successful production collaboration between Paramount and Skydance.” The two companies have in recent years partnered for blockbusters such as “Top Gun” and “Mission Impossible.” - - “At this point, there was an unbelievable amount of uncertainty hanging over the company,” one of the people said of Paramount. “They want the company to be able to move forward.”",CNN,12/06/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Shari Redstonehasfinallyspoken.', 'After weeks of endless speculation about the future ofParamount Global, and more than half a year of grueling negotiations, the heiress called off talks withDavid Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire.', 'The deal went up in flames at the one-yard line.', 'Just as Paramount’s special committee was set to vote on the deal, lawyers representing the Redstone holding companyNational Amusements Inc.sent word that she had moved to end merger discussions, CNN was told.', 'Why Redstone ultimately vetoed the deal is now up for discussion.', 'Was Redstone irked by the latest financials of the offer?', 'Was she afraid of shareholder litigation?', 'Is legacy at play?', 'Or is it simply that Redstone just cannot let go of the empire her father,Sumner, built?', 'The answer, of course, depends —greatly— on who you ask.', 'One narrative that has emerged is that, while the two parties had agreed on the economic terms, there were still outstanding issues they had not been able to see eye-to-eye on.', 'Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders.', 'Redstone had advocated for a vote to protect against potential lawsuits; Skydance resisted.', '“That was an important term,” a person close to the matter told CNN.', 'The competing narrative is that Skydance had made a competitive offer.', 'Ellison and his backers, led byRedbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations.', 'In this version of events, the real reason a transaction is not taking place is because Redstone, advised by Ellison foeCharles Phillips, simply got cold feet.', '“Shari got spooked,” as one person bluntly told CNN.', 'Regardless of the cause, the deal is not happening — and squabbling about the reason it could not get across the finish line does not change that reality.', 'Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.', 'And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way.', 'Over the course of the last few months,Bob Bakishwas ousted as chief executive of Paramount Global and four directors resigned from the company’s board.', 'The corporate drama, as many observers have pointed out, has been akin to a real-life“Succession.”', 'NAI, which has received interest from other parties and will now explore them, offered support Tuesday afternoon for the Office of the CEOat Paramount Global, the post-Bakish triumvirate made up ofBrian Robbins,George Cheeks andChris McCarthy.', 'The trio last week outlined a plan for the company, which includes exploring a joint streaming venture, finding synergies, and reducing costs by $500 million.', '“NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement.', 'NAI also said it “looks forward to the ongoing, successful production collaboration between Paramount and Skydance.”', 'The two companies have in recent years partnered for blockbusters such as“Top Gun”and“Mission Impossible.”', '“At this point, there was an unbelievable amount of uncertainty hanging over the company,” one of the people said of Paramount. “', 'They want the company to be able to move forward.”']",0.125492508140569,"“NAI supports the recently announced strategic plan being executed by Paramount’s Office of the CEO as well as their ongoing work and that of the Company’s Board of Directors to continue to explore opportunities to drive value creation for all Paramount shareholders,” the family-owned company said in a statement.","Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.",0.09910465662296,"Ellison and his backers, led byRedbird Capital, had repeatedly sweetened the terms of the deal and met all the financial requirements for it to happen over many months of painstaking negotiations.","Instead, it underscores the brewing tension between the two sides as the frustrated parties struggled to make a potential marriage work.",2024-06-15 -Housing demand wanes as buyers bank on interest rate cut,https://www.bbc.co.uk/news/articles/cmllreerzmro,2024-06-13T14:18:42.842Z,"House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests. UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year. Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May. Financial markets are forecasting that the Bank of England could cut interest rates in August or September. Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year. The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected."" It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known."" The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p. A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May. Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months. However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months."" Those surveyed by RICS said that demand was weakest in both south east and south west England. In contrast, prices were still robust in Scotland and Northern Ireland. ",BBC,13/06/2024,"['House buyers are putting off purchasing a new home until the Bank of England cuts interest rates, evidence suggests.', 'UK housebuilder Crest Nicholson was forced to issue a profit warning after it said sales momentum had softened since Easter due to volatile mortgage rates as well as buyers now expecting borrowing costs to drop later this year.', 'Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.', 'Financial markets are forecasting that the Bank of England could cut interest rates in August or September.', 'Crest Nicholson reported a pre-tax loss of £30.9m for the six months to the end of April, including the impact of exceptional costs, compared to a £28.4m profit over the same period last year.', 'The housebuilder said that while ""the spring selling season started well"", it added: ""Momentum has softened slightly since Easter, reflecting the volatility in mortgage rates and the expectation of a base rate reduction coming later in the year than previously expected.""', 'It added: ""The imminent general election is creating some short-term uncertainty, but this is anticipated to be alleviated in July once the outcome is known.""', ""The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p."", 'A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand had weakened in May.', 'Tarrant Parsons, senior economist at RICS, said a recent recovery in the housing market ""appears to have slipped into reverse of late"" which he blamed on higher mortgage rates in the past couple of months.', 'However he predicted that this was ""delaying, rather than derailing, a modest improvement going forward"". ""', 'Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""', 'Those surveyed by RICS said that demand was weakest in both south east and south west England.', 'In contrast, prices were still robust in Scotland and Northern Ireland.']",0.0614846507055062,The firm now expects adjusted full-year profits of between £22m to £29m. Analysts had expected the company to announce profits of around £38m. Crest Nicholson's share price tumbled by nearly 12% to 212.4p.,Those surveyed by RICS said that demand was weakest in both south east and south west England.,-0.2277548267291142,"Indeed, respondents continue to envisage a more positive trend in sales activity coming through over the year ahead, although this is likely predicated on the Bank of England being able to start lowering interest rates in the coming months.""","Meanwhile, a survey of chartered surveyors found that demand for homes had weakened in May.",2024-06-15 -Wells Fargo fired a dozen people accused of faking keyboard strokes,https://edition.cnn.com/2024/06/14/business/wells-fargo-staff-wfh-nightcap/index.html," - Updated - 1:49 PM EDT, Fri June 14, 2024 - ","The pandemic may have released us from the tyranny of the five-day-a-week office schedule. But the grip of America’s busy-work culture is proving harder to shake. - - See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.” - - In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. - - Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic. With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off. - - Even though most workers said they were more productive from home, many executives  adopted “bossware” to monitor their staff’s laptops. (And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality. We hope you can forgive us.) - - At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. It’s not clear whether they were working from home or from a beach, or what they were doing instead of working. A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.” - - I have two immediate thoughts - - • Oh, come on, the highest standards? (More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults. - - “The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “And that’s a symptom of a much larger problem.” - - In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. - - Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees. - - Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry. - - Since then, Wells has been trying to reform its own internal culture while trying to repair its brand. It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees. - - Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated. - - But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion. - - “Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “So, team members are going to innovate around that.” - - —CNN’s Matt Egan contributed reporting.",CNN,14/06/2024,"['The pandemic may have released us from the tyranny of the five-day-a-week office schedule.', 'But the grip of America’s busy-work culture is proving harder to shake.', 'See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority.', 'CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”', 'In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20.', 'Those devices — which keep your screen active and move your cursor in convincingly random ways — took off during the early days of the pandemic.', 'With employees no longer huddled together under fluorescent lighting, eating sad desk salads, bosses suddenly had to wonder whether their teams were actually working or slacking off.', 'Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (', 'And to be fair, yes — sometimes we did step away, selfishly tending to our own personal business, like walking the dog or staring out the window while contemplating our mortality.', 'We hope you can forgive us.)', 'At any rate, some bankers over at Wells Fargo seem to have gotten caught last month.', 'It’s not clear whether they were working from home or from a beach, or what they were doing instead of working.', 'A bank spokesperson declined to offer more details about the firings, saying only that “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior.”', 'I have two immediate thoughts • Oh, come on, the highest standards? (', 'More on that in a moment.)• We are four years into this remote/hybrid experiment, and some bosses still haven’t figured out how to treat their workers like adults.', '“The sad part is that employees feel the need to purchase and use a mouse jiggler,” Ashley Herd, founder of management training firm Manager Method, tells me. “', 'And that’s a symptom of a much larger problem.”', 'In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history.', 'Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.', 'Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry.', 'Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.', 'It’s not hard to understand why it would want to keep some close tabs on its roughly 200,000 employees.', 'Banks in particular have strict controls on work-issued devices because the industry is so tightly regulated.', 'But firing people over mouse movers may not be the best way to foster a culture of trust and inclusion.', '“Managers often assume the worst when they see someone’s away, and so they’re looking for any type of data to show that that’s true,” Herd says. “', 'So, team members are going to innovate around that.”', '—CNN’s Matt Egan contributed reporting.']",0.030770333410372,CNN confirmed that multiple people were let go after a review of allegations that they created an “impression of active work.”,"Since 2016, Wells has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that led to more than 2 million fake accounts being opened without customers’ consent or knowledge — a practice that began when managers began setting unrealistic sales goals for employees.",-0.5993990302085876,"Even though most workers said they were more productive from home, many executives adopted “bossware” to monitor their staff’s laptops. (",But the grip of America’s busy-work culture is proving harder to shake.,2024-06-15 -US Fed pencils in one interest rate cut this year,https://www.bbc.co.uk/news/articles/c1ddj7v9y97o,2024-06-12T12:51:34.244Z,"The US Federal Reserve has signalled that it will cut its key interest rate just once this year despite inflation easing. Back in March, the central bank had been expected to reduce borrowing costs three times by the end of 2024. However, on Wednesday, new forecasts from Fed officials who make decisions on rates pencilled in a single reduction. The new outlook emerged after the Fed voted to hold interest rates at their current 23-year high even as inflation ticked lower. Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May. That compares with 3.4% in the 12 months to April. However, between April and May inflation was unchanged and it remains above the Fed's 2% target. Jerome Powell, chair of the Federal Reserve, said that only ""modest"" progress had been made on hitting the target and the central bank would need to see ""good inflation readings"" before interest rates can be cut. US interest rates were held at 5.25%-5.5%. Anastassia Fedyk, assistant professor of finance at Haas Business School at the University of California Berkeley, told the BBC's Today programme: ""We did get some good news in terms of better inflation numbers. ""But the Fed is still being pretty cautious so they are signalling that in the future they are going to be doing one, most likely, rate drop and not a very large one at that."" Some analysts suggested that the central bank would backtrack on the number of interest rate cuts this year. Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that reducing forecasts of interest rate cuts from three to one this year was ""unnecessarily aggressive"". While economists at Wells Fargo said it would be a ""close call"" between making one or two reductions in 2024. Officials at the US Fed were split over how many interest rate cuts they expected this year. Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two. Forecasts from the US Fed signalled one modest cut to 5%-5.25%. Mr Powell acknowledged that a reduction of this size would not have a major impact on the US economy. But he said when a cut finally does come it would be “a consequential decision for the economy” which “you want to get right"". While inflation eased a little, the US employment market remains robust. Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected. Ms Fedyk said: ""The Fed is trying to react to the data but not overreact to the data."" Some other major economies have cut interest rates, including the European Central Bank and the Bank of Canada. But the US - and the UK - are yet to make a similar move. The Bank of England will meet next week and is widely expected to hold interest rates at 5.25%, their highest level for 16 years. The Consumer Prices Index (CPI) measure of inflation has slowed significantly in the UK from a high of 11.1% in October 2022 to 2.3% currently. However, some elements of inflation remain stubbornly high. At the same time, average wage growth in the UK remains strong compared to inflation. Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress."" ",BBC,12/06/2024,"['The US Federal Reserve has signalled that it will cut its key interest rate just once this year despite inflation easing.', 'Back in March, the central bank had been expected to reduce borrowing costs three times by the end of 2024.', 'However, on Wednesday, new forecasts from Fed officials who make decisions on rates pencilled in a single reduction.', 'The new outlook emerged after the Fed voted to hold interest rates at their current 23-year high even as inflation ticked lower.', 'Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May.', 'That compares with 3.4% in the 12 months to April.', ""However, between April and May inflation was unchanged and it remains above the Fed's 2% target."", 'Jerome Powell, chair of the Federal Reserve, said that only ""modest"" progress had been made on hitting the target and the central bank would need to see ""good inflation readings"" before interest rates can be cut.', 'US interest rates were held at 5.25%-5.5%.', 'Anastassia Fedyk, assistant professor of finance at Haas Business School at the University of California Berkeley, told the BBC\'s Today programme: ""We did get some good news in terms of better inflation numbers. ""', 'But the Fed is still being pretty cautious so they are signalling that in the future they are going to be doing one, most likely, rate drop and not a very large one at that.""', 'Some analysts suggested that the central bank would backtrack on the number of interest rate cuts this year.', 'Ian Shepherdson, chief economist at Pantheon Macroeconomics, said that reducing forecasts of interest rate cuts from three to one this year was ""unnecessarily aggressive"".', 'While economists at Wells Fargo said it would be a ""close call"" between making one or two reductions in 2024.', 'Officials at the US Fed were split over how many interest rate cuts they expected this year.', 'Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two.', 'Forecasts from the US Fed signalled one modest cut to 5%-5.25%.', 'Mr Powell acknowledged that a reduction of this size would not have a major impact on the US economy.', 'But he said when a cut finally does come it would be “a consequential decision for the economy” which “you want to get right"".', 'While inflation eased a little, the US employment market remains robust.', 'Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected.', 'Ms Fedyk said: ""The Fed is trying to react to the data but not overreact to the data.""', 'Some other major economies have cut interest rates, including the European Central Bank and the Bank of Canada.', 'But the US - and the UK - are yet to make a similar move.', 'The Bank of England will meet next week and is widely expected to hold interest rates at 5.25%, their highest level for 16 years.', 'The Consumer Prices Index (CPI) measure of inflation has slowed significantly in the UK from a high of 11.1% in October 2022 to 2.3% currently.', 'However, some elements of inflation remain stubbornly high.', 'At the same time, average wage growth in the UK remains strong compared to inflation.', 'Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress.""']",0.1486142408795249,"Earlier this week, Ruth Gregory, deputy chief UK economist at Capital Economics said: ""Overall, the stickiness of wage growth may not stop the Bank from cutting interest rates for the first time in August, as we are forecasting, as long as other indicators such as pay settlements data and next week’s CPI inflation release show decent progress.""","Of the 19 policymakers who gave their outlook, four expected no cut, seven forecasted one reduction while eight thought there would be two.",0.2429289572379168,"Recent data showed that US employers added 272,000 jobs in May - far above the 185,000 expected.","Inflation, which measures the pace of price rises, slowed to 3.3% in the year to May.",2024-06-15 -Apple’s AI: We’ve seen some of this before,https://edition.cnn.com/2024/06/11/tech/apples-ai-tools-preview/index.html," - Published - 4:48 PM EDT, Tue June 11, 2024 - ","Apple is about to throw artificial intelligence into the mainstream, but some of it is similar to what its competitors are already doing. - - In a demo following Tuesday’s annual Worldwide Developers Conference, Apple gave CNN a preview of some of the AI-powered features coming to the iPhone, iPad and Mac in the fall. Powered by what the company is calling “Apple Intelligence,” some of the tools highlight a new era for the company; others remind us they’re just playing catch up. - - Still, for many, this will be the first time interacting with generative AI – the buzzy form of artificial intelligence that can provide seemingly thorough responses to questions – in a way that will affect their everyday lives. - - The biggest change coming to Apple devices is a modernized, much smarter Siri, potentially turning the company’s virtual assistant with a hit-or-miss track record into a more reliable, personalized chatbot. On the other hand, however, other AI tools look familiar from what we’ve seen on the market. And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist. - - Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot). It’ll also offer the ability to circle and remove distractions in photos (akin to Google Pixel’s Magic Easer). And it can also enable the production of AI-generated images from sketches (similar to Samsung Image Wand). - - Apple is often not the first to adopt and integrate emerging technologies. The company typically researches, develops and aims to perfect new tech for years before including it in new products. Yet the speed at which the world is adopting generative AI perhaps expedited the company’s need to have a smartphone with the latest tech industry bet and finally show off what it’s likely been working on behind the scenes for years. - - Users of only Apple most’s powerful (and therefore expensive) devices will be able to use the AI tools – this includes the iPhone 15 Pro or Mac with a M1, M2 and M3 processor. The rollout could also entice consumers to upgrade their devices at a time when they’ve been holding onto older models longer. - - Ahead of the demo, the company emphasized that the majority of the new tools are powered by Apple Intelligence. Its partnership with ChatGPT creator OpenAI only comes into play in a limited, specific way (more on that soon). - - In the demo, Apple discussed how writing tools with AI can be used to tighten cover letters and suggest changes, or change the tone of an email, rework sentence structure or catch typos. If you want your email to sound more professional, or more friendly, Apple says its AI will take a stab. While using the Notes app, you could ask for a summary of a meeting or school lecture. In the Photos app, it’s possible to remove something or someone out of a picture you no longer want there, using a quick tap. - - Apple also walked us through creating customized photos that could be sent in messages, such as the Golden Gate Bridge with fireworks in the background, or creating a birthday party invitation with a custom picture of a dinosaur on a surfboard. It’s easy to see how this, along with Genmoji – Apple’s custom AI-generated emoji that uses your likeness against different backgrounds – will bring new methods of communication into texting and interacting with others. - - Apple really flexes its AI muscle, however, when it comes to Siri, which Apple says is taking a massive step forward by becoming more contextually relevant and more personal. - - In the demo, an Apple executive asked Siri to set an alarm for 5:30 am and then changed her mind to 5:45 am. Siri obliged without a fumble. In Messages, Siri will know what you’re discussing in case a question comes up. For example, if you’re chatting with someone about tennis player Roger Federer, you can ask Siri how many games he’s won without ever saying his name out loud. - - When you have a question that’s beyond Siri’s scope, ChatGPT can step in. In the demo, Apple showed how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner. Siri could offer that this is a question better suited for ChatGPT, and ask the user if they consent to using the service. - - Although the partnership is limited for now, some analysts say it makes sense for the company to grow its own proprietary technology and fill in the gaps with ChatGPT in the meantime. Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company. - - OpenAI, along with other AI companies, continue to face concerns around misinformation, biases, copyright, privacy and security, and more. It also comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly. - - During its presentation, Apple also emphasized privacy and security, noting most AI functions will be done on the phone, keeping inputs away from a far-off server cloud. - - While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday. - - Although these are only Apple’s first steps into what tech giants are desperately hoping is a brave new world, it’s now poised to be a player in the ever-growing AI arms race.",CNN,11/06/2024,"['Apple is about to throw artificial intelligence into the mainstream, but some of it is similar to what its competitors are already doing.', 'In a demo following Tuesday’s annual Worldwide Developers Conference, Apple gave CNN a preview of some of the AI-powered features coming to the iPhone, iPad and Mac in the fall.', 'Powered by what the company is calling “Apple Intelligence,” some of the tools highlight a new era for the company; others remind us they’re just playing catch up.', 'Still, for many, this will be the first time interacting with generative AI – the buzzy form of artificial intelligence that can provide seemingly thorough responses to questions –in a way that will affect their everyday lives.', 'The biggest change coming to Apple devices is a modernized, much smarter Siri, potentially turning the company’s virtual assistant with a hit-or-miss track record into a more reliable, personalized chatbot.', 'On the other hand, however, other AI tools look familiar from what we’ve seen on the market.', 'And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist.', 'Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot).', 'It’ll also offer the ability to circle and remove distractions in photos (akin to Google Pixel’s Magic Easer).', 'And it can also enable the production of AI-generated images from sketches (similar to Samsung Image Wand).', 'Apple is often not the first to adopt and integrate emerging technologies.', 'The company typically researches, develops and aims to perfect new tech for years before including it in new products.', 'Yet the speed at which the world is adopting generative AI perhaps expedited the company’s need to have a smartphone with the latest tech industry bet and finally show off what it’s likely been working on behind the scenes for years.', 'Users of only Apple most’s powerful (and therefore expensive) devices will be able to use the AI tools – this includes the iPhone 15 Pro or Mac with a M1, M2 and M3 processor.', 'The rollout could also entice consumers to upgrade their devices at a time when they’ve been holding onto older models longer.', 'Ahead of the demo, the company emphasized that the majority of the new tools are powered by Apple Intelligence.', 'Its partnership with ChatGPT creator OpenAI only comes into play in a limited, specific way (more on that soon).', 'In the demo, Apple discussed how writing tools with AI can be used to tighten cover letters and suggest changes, or change the tone of an email, rework sentence structure or catch typos.', 'If you want your email to sound more professional, or more friendly, Apple says its AI will take a stab.', 'While using the Notes app, you could ask for a summary of a meeting or school lecture.', 'In the Photos app, it’s possible to remove something or someone out of a picture you no longer want there, using a quick tap.', 'Apple also walked us through creating customized photos that could be sent in messages, such as the Golden Gate Bridge with fireworks in the background, or creating a birthday party invitation with a custom picture of a dinosaur on a surfboard.', 'It’s easy to see how this, along with Genmoji – Apple’s custom AI-generated emoji that uses your likeness against different backgrounds – will bring new methods of communication into texting and interacting with others.', 'Apple really flexes its AI muscle, however, when it comes to Siri, which Apple says is taking a massive step forward by becoming more contextually relevant and more personal.', 'In the demo, an Apple executive asked Siri to set an alarm for 5:30 am and then changed her mind to 5:45 am.', 'Siri obliged without a fumble.', 'In Messages, Siri will know what you’re discussing in case a question comes up.', 'For example, if you’re chatting with someone about tennis player Roger Federer, you can ask Siri how many games he’s won without ever saying his name out loud.', 'When you have a question that’s beyond Siri’s scope, ChatGPT can step in.', 'In the demo, Apple showed how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner.', 'Siri could offer that this is a question better suited for ChatGPT, and ask the user if they consent to using the service.', 'Although the partnership is limited for now, some analysts say it makes sense for the company to grow its own proprietary technology and fill in the gaps with ChatGPT in the meantime.', 'Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company.', 'OpenAI, along with other AI companies, continue to face concerns around misinformation, biases, copyright, privacy and security, and more.', 'It also comes at a time when theindustry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.', 'During its presentation, Apple also emphasized privacy and security, noting most AI functions will be done on the phone, keeping inputs away from a far-off server cloud.', 'While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday.', 'Although these are only Apple’s first steps into what tech giants are desperately hoping is a brave new world, it’s now poised to be a player in the ever-growing AI arms race.']",0.1879032119342197,"Apple Intelligence, for example, will help spot typos or grammar mistakes in emails, similar to a spellchecker or services like Grammarly, or turn a casual draft into one with a more professional tone (much like Microsoft’s AI software Copilot).","Apple could either scale back or grow its partnership with OpenAI over time, but using it in a limited capability could potentially cut down on risks associated with the company.",0.5018185749650002,"While the market didn’t seem to respond immediately to Apple’s announcements on Monday, with its stock price (AAPL) dipping slightly, the company’s stock rose more than 7% on Tuesday.","And the very first iteration of Siri, launched in 2011, came with similar prognostications, only to fall relatively flat in the cultural zeitgeist.",2024-06-15 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-06-15 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-06-15 -The good economic news this week was just that … good news,https://edition.cnn.com/2024/06/15/economy/good-news-inflation-may/index.html," - Published - 9:30 AM EDT, Sat June 15, 2024 - ","“Good news is bad news” has been a common refrain for a while now. - - When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. - - This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire. - - “What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.” - - He added: “That is good news.” - - This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory. - - And it sure did deliver. - - On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation. - - On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well). - - But those data points were small fry as to what would come Wednesday. - - Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. On an annual basis, consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, - - Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled. Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low. - - “The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said. - - The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September. - - The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December. - - The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. - - Excluding gas prices, imports still fell 0.3%. - - “Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.” - - “We would not rule out a first rate cut in September; the market is not,” Rupkey wrote. - - And more good news is likely on the way this next week and later this month, Brusuelas said. - - Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report. Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month. - - “There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",CNN,15/06/2024,"['“Good news is bad news” has been a common refrain for a while now.', 'When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts.', 'This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire.', '“What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “', 'And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.”', 'He added: “That is good news.”', 'This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory.', 'And it sure did deliver.', 'On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.', 'On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).', 'But those data points were small fry as to what would come Wednesday.', 'Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022.', 'On an annual basis, consumer prices rose 3.3% from a year earlier,slowing from April’s 3.4% rate, Falling gas prices did their part, as did stable grocery prices, but a key gauge of underlying inflation also cooled.', 'Core CPI rose just 0.2% for the month (its slowest pace since October of last year), and its annual rate dropped to 3.4%, setting a fresh three-year low.', '“The disinflationary trend we saw in 2023 is reasserting itself in that the seasonal noise that we typically see in inflation at the turn of the year was just that, ‘noise,’” Brusuelas said.', 'The soft CPI bolstered traders’ expectations that interest rate cuts could now come as soon as September.', 'The Fed, putting on its hawkish hat, tried to play spoilsport later that afternoon when it held rates at their current levels once again, and officials signaled only one rate cut for the remainder of the year, down from the three penciled in last December.', 'The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.', 'Excluding gas prices, imports still fell 0.3%.', '“Everywhere Fed officials look, inflation is now in a cooldown phase after the worrisome first quarter flare-up,” Chris Rupkey, chief economist at FwdBonds, wrote in a note on Friday. “', 'Fed officials did not see what they were hoping for in the inflation trend when they met earlier this week, but the winds of change are coming for those bearish inflation outlooks as the economy may be slowing more than expected at the end of the second quarter.”', '“We would not rule out a first rate cut in September; the market is not,” Rupkey wrote.', 'And more good news is likely on the way this next week and later this month, Brusuelas said.', 'Inflation growing at a slower rate will give Americans more comfort in terms of overall spending, he said, adding that should be on display in next week’s retail sales report.', 'Additionally, the disinflation seen in the CPI and PPI are setting the stage for an equally softer report from the Fed’s favored inflation gauge: The Personal Consumption Expenditures price index, which is due out at the end of the month.', '“There’s a real possibility we could see no increase on a monthly basis and that inflation slows into the 2.5% to 2.6% range,” he said. “', 'At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”']",0.1520506693033568,"On Monday, new survey data from the New York Fed showed that US consumers reported increased optimism about their current and future financial situation, the stock market and the continued slowing of inflation.","At that point, you’re within spitting distance of the Fed’s 2% target, and we have to seriously be talking about rate cuts in the near term.”",0.2949928978215093,"On Tuesday, the National Federation of Independent Business’ optimism index hit the highest level of the year (although firms’ uncertainty rose as well).","The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April.",2024-06-15 -The hidden costs of owning a home are surging for Americans,https://edition.cnn.com/2024/06/11/business/homeownership-costs-inflation/index.html," - Updated - 8:48 AM EDT, Wed June 12, 2024 - ","The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments. - - US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study. - - That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home. - - All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance. - - The findings are another reminder of how much more expensive life has become since Covid-19. - - New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses. - - Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics. That’s well above the overall inflation rate of 3.3%. - - Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated. The housing market is historically unaffordable. - - But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it. - - The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found. - - Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance. - - Home insurance premiums have surged in recent years, in part because of extreme weather. - - “My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021. - - Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region. - - “My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said. - - Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global. The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage. And high inflation made it that much more expensive to rebuild properties. - - Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs. - - “The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection. We bought it as is,” she said. “We knew the plumbing was old but it’s falling apart.” - - To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service. - - Schauer isn’t alone among Californians grappling with high hidden costs of homeownership. - - The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii. - - The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515). - - By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate. - - Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%). - - Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020. - - Those gains have padded the net worth of millions of Americans. Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve. - - The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes. - - Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers. - - “A lot of first-time buyers think of the closing table as the finish line,” he said. “But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.” - - Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage. - - “You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “But once you own, you have to set aside money for these unexpected costs.”",CNN,12/06/2024,"['The price for owning a home is rising rapidly – and we’re not just talking about mortgage payments.', 'US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study.', 'That’s nearly the cost to buy a used car and represents a 26% increase from four years ago when it cost $14,428 annually to own and maintain a home.', 'All of these variable expenses are on top of the fixed cost of a mortgage, including property taxes, homeowners insurance, energy costs, internet, cable bills and home maintenance.', 'The findings are another reminder of how much more expensive life has become since Covid-19.', 'New data released on Wednesday underscored the pressure Americans are feeling from housing-related expenses.', 'Even as items such as food and gas have gotten cheaper, shelter increased 5.4% year-over-year in May, according to the Bureau of Labor Statistics.', 'That’s well above the overall inflation rate of 3.3%.', 'Many Americans would like to buy a home but have been unable to because home prices have spiked to record highs and mortgage rates remain elevated.', 'The housing market is historically unaffordable.', 'But even the ones fortunate enough to have bought a home over the past few years are grappling with sticker shock over the cost of maintaining it.', 'The per-month cost of owning and maintaining a home has gone from $1,202 a month in 2020 to $1,510 now, Bankrate found.', 'Jeff Ostrowski, analyst at Bankrate, told CNN that the main drivers of the spike in homeownership expenses are the cost of maintenance and insurance.', 'Home insurance premiums have surged in recent years, in part because of extreme weather.', '“My homeowners insurance doubled, with no notice – nothing,” said Jennifer Schauer, who bought her home in Novato, California, in 2021.', 'Schauer said some of her neighbors lost their homeowners insurance coverage altogether because of the mounting threat of wildfires in the region.', '“My neighbors said I was lucky our insurance just doubled and it wasn’t canceled,” she said.', 'Home insurance rates jumped 11.3% nationally last year alone, according to S&P Global.', 'The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.', 'And high inflation made it that much more expensive to rebuild properties.', 'Schauer, who has two children and works in a high school as a paraeducator, also recently found out her home needs $10,000 worth of plumbing repairs.', '“The housing market was so competitive when we bought, that to get this house we waived the homeowner inspection.', 'We bought it as is,” she said. “', 'We knew the plumbing was old but it’s falling apart.”', 'To make ends meet and deal with the unexpected costs of homeownership, Schauer is taking on extra hours at school as a substitute teacher, accepting help from family to pay for her son to get tutored and cutting costs by avoiding eating out and canceling her home cleaning service.', 'Schauer isn’t alone among Californians grappling with high hidden costs of homeownership.', 'The average cost of owning and maintaining a home in California is $28,790, according to Bankrate, second among all US states behind only Hawaii.', 'The top five is rounded out by Massachusetts ($26,313), New Jersey ($25,573) and Connecticut ($23,515).', 'By contrast, Kentucky ($11,559), Arkansas ($11,692) and Mississippi ($11,881) had the lowest hidden costs of homeownership, according to Bankrate.', 'Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).', 'Of course, the silver lining for homeowners is the fact that home values have gone up significantly since 2020.', 'Those gains have padded the net worth of millions of Americans.', 'Median inflation-adjusted net worth swelled by 37% between 2019 to 2022, according to the Federal Reserve.', 'The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.', 'Still, Ostrowski, the Bankrate analyst, said the findings should be a “reality check” for first-time homebuyers.', '“A lot of first-time buyers think of the closing table as the finish line,” he said. “', 'But in another way, it’s just the starting line for all these new expenses you’ll be responsible for.”', 'Ostrowski said buyers must budget for these hidden costs of homeownership when they are trying to determine how much they can afford to spend on a mortgage.', '“You may have thought you were done scrimping and saving when you got enough for a down payment,” he said. “', 'But once you own, you have to set aside money for these unexpected costs.”']",0.0582950305030747,"The real estate boom also gives homeowners additional financial flexibility, letting them borrow against the value of their homes to pay for unexpected costs, finance the cost of education or upgrade their homes.","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",0.2334338873624801,"Since Covid, the hidden cost of homeownership has climbed most rapidly in three states: Utah (44%), Idaho (39%) and Hawaii (38%).","The US homeowners insurance industry lost $101.3 billion last year as severe storms, hurricanes and wildfire did significant damage.",2024-06-15 -New US sanctions force end of dollar and euro trading on Russia’s main exchange,https://edition.cnn.com/2024/06/13/investing/us-russia-sanctions-dollar-euro-trading/index.html," - Updated - 10:36 PM EDT, Thu June 13, 2024 - ","New US sanctions against Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, the Moscow Exchange. - - The exchange, also known as MOEX, and the Russian central bank rushed out statements Wednesday, a public holiday in Russia, within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Moscow’s war in Ukraine. - - “Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said. - - The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight. - - Instead, they will have to trade over the counter, where deals are conducted directly between two parties. The central bank said it would use data from those trades to set official exchange rates. - - Many Russians hold savings in dollars or euros, mindful of periodic crises in recent decades when the ruble has crashed in value. The central bank reassured people these deposits were secure. - - “Companies and individuals can continue to buy and sell US dollars and euros through Russian banks. All funds in US dollars and euros in the accounts and deposits of citizens and companies remain safe,” it said. - - One person at a large, non-sanctioned Russian commodities exporter told Reuters: “We don’t care, we have yuan. Getting dollars and euros in Russia is practically impossible.” - - With Moscow pursuing closer trade and political ties with Beijing, China’s yuan has ousted the dollar to become MOEX’s most traded currency, accounting for 53.6% of all foreign currency traded in May. - - Dollar-ruble trading volume on MOEX tends to be around 1 billion rubles ($11 million) a day, while euro-ruble trading hovers at around 300 million rubles ($3 million) daily. For yuan-ruble trading, daily volumes now regularly top 8 billion rubles ($90 million). - - On the eve of the national holiday, the ruble closed at 89.10 to the dollar and at 95.62 against the euro. Following the sanctions news, some banks immediately jacked up their dollar rates. - - Norvik Bank said Wednesday that it was offering to buy dollars for just 50 rubles but sell for 200 rubles, though it later adjusted the rates to 88.20/97.80. Tsifra Bank was buying dollars at 89 rubles and selling at 120. - - The US Treasury said it was “targeting the architecture of Russia’s financial system, which has been reoriented to facilitate investment into its defense industry and acquisition of goods needed to further its aggression against Ukraine.” - - Russia’s central bank has been bracing for such sanctions for around two years. In July 2022, the bank said it was modeling various sanctions scenarios with foreign exchange market participants and infrastructure organizations. - - “This is bad but expected news,” Russian broker T-Investments said on Telegram. - - Forbes Russia had reported in 2022 that the central bank was discussing a mechanism for managing the ruble-dollar exchange rate should exchange trading be halted in the event of sanctions against MOEX and its National Clearing Centre, which was also hit by the new sanctions. - - MOEX said share trading and money market trades settled in dollars and euros would also cease. The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.",CNN,13/06/2024,"['NewUS sanctionsagainst Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, theMoscow Exchange.', 'The exchange, also known as MOEX, and the Russian central bank rushed out statements Wednesday, a public holiday in Russia, within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Moscow’s war in Ukraine.', '“Due to the introduction of restrictive measures by the United States against theMoscow ExchangeGroup, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said.', 'The move means banks, companies and investors will no longer be able to trade either currency via a central exchange, which offers advantages such as better liquidity and oversight.', 'Instead, they will have to trade over the counter, where deals are conducted directly between two parties.', 'The central bank said it would use data from those trades to set official exchange rates.', 'Many Russians hold savings in dollars or euros, mindful of periodic crises in recent decades when the ruble has crashed in value.', 'The central bank reassured people these deposits were secure.', '“Companies and individuals can continue to buy and sell US dollars and euros through Russian banks.', 'All funds in US dollars and euros in the accounts and deposits of citizens and companies remain safe,” it said.', 'One person at a large, non-sanctioned Russian commodities exporter told Reuters: “We don’t care, we have yuan.', 'Getting dollars and euros in Russia is practically impossible.”', 'With Moscow pursuing closer trade and political ties with Beijing, China’s yuan has ousted the dollar to become MOEX’s most traded currency, accounting for 53.6% of all foreign currency traded in May.', 'Dollar-ruble trading volume on MOEX tends to be around 1 billion rubles ($11 million) a day, while euro-ruble trading hovers at around 300 million rubles ($3 million) daily.', 'For yuan-ruble trading, daily volumes now regularly top 8 billion rubles ($90 million).', 'On the eve of the national holiday, the ruble closed at 89.10 to the dollarand at 95.62 against the euro.', 'Following the sanctions news, some banks immediately jacked up their dollar rates.', 'Norvik Bank said Wednesday that it was offering to buy dollars for just 50 rubles but sell for 200 rubles, though it later adjusted the rates to 88.20/97.80.', 'Tsifra Bank was buying dollars at 89 rubles and selling at 120.', 'The US Treasury said it was “targeting the architecture of Russia’s financial system, which has been reoriented to facilitate investment into its defense industry and acquisition of goods needed to further its aggression against Ukraine.”', 'Russia’s central bank has been bracing for such sanctions for around two years.', 'In July 2022, the bank said it was modeling various sanctions scenarios with foreign exchange market participants and infrastructure organizations.', '“This is bad but expected news,” Russian broker T-Investments said on Telegram.', 'Forbes Russia had reported in 2022 that the central bank was discussing a mechanism for managing the ruble-dollar exchange rate should exchange trading be halted in the event of sanctions against MOEX and its National Clearing Centre, which was also hit by the new sanctions.', 'MOEX said share trading and money market trades settled in dollars and euros would also cease.', 'The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.']",0.0863052869969159,The central bank reassured people these deposits were secure.,"The money market comprises low-risk, short-term debt instruments like government bonds and commercial debt.",0.122061808904012,The central bank reassured people these deposits were secure.,"NewUS sanctionsagainst Russia have caused an immediate suspension of trading in dollars and euros on the country’s leading financial marketplace, theMoscow Exchange.",2024-06-15 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-06-15 -"It’s so hot in India, an insurer is helping thousands of women buy food",https://edition.cnn.com/2024/06/12/business/india-heatwave-insurance-climate-intl-hnk/index.html," - Published - 7:30 AM EDT, Wed June 12, 2024 - ","A one-of-its-kind insurance policy has started making payouts to tens of thousands of women across India to help them cope with the impact of extreme heat. - - Fifty thousand women in 22 districts across the states of Rajasthan, Maharashtra and Gujarat received a $5 payments as temperatures topped 40 degrees Celsius (104 Fahrenheit) last month in several parts of the country. - - “This is the first time that insurance payouts and a direct cash assistance program have been combined to supplement the income of women when it’s dangerously hot,” said Kathy Baughman McLeod, CEO of Climate Resilience for All, a not-for-profit organization that designed the insurance in partnership with India’s Self-Employed Women’s Association (SEWA), a trade union with nearly three million members. - - From small farmers to casual laborers, many SEWA members depend on agriculture for their livelihoods, and that makes them particularly vulnerable to climate change. Indian women working in agriculture typically earn about 300 rupees ($3.60) per day. - - Outdoor work in such extreme heat can lead to chronic rashes, dizziness, burns, infections, and miscarriage, according to Climate Resilience for All. Such high temperatures can also destroy crops or merchandise, which can have a debilitating impact on household debt for low-income families. - - The insurance is underwritten by Swiss Re and provided locally by ICICI Lombard. - - More than 46,000 women were given additional insurance payments, with some receiving up to $19.80 each. Overall payments across the program amounted to over $340,000, Climate Resilience for All said in a statement on Wednesday. - - “The money from the program has allowed me to pay for my medical expenses and to buy food for my family,” said Arunaben Makwana, one of the beneficiaries, said in the statement. - - The insurance plan is currently offered to members of SEWA, who work across India’s vast informal sector. According to McLeod, the program may be rolled out to more communities across South Asia, as well as east and west Africa in the coming year. - - Such insurance initiatives may become critical worldwide as policymakers grapple with a much hotter planet. - - India has endured a scorching summer — with a part of the capital of Delhi recording the country’s highest-ever temperature of 49.9 degrees Celsius (121.8 Fahrenheit) last month. - - Rising mercury levels in the country risks reversing progress on poverty alleviation, health and economic growth, experts say. - - India is “expected to lose about 5.8% of daily working hours due to heat stress in 2030,” said a United Nations’ Economic and Social Commission for Asia and the Pacific (ESCAP) report in April. - - “The problem is most severe for outdoor workers, particularly those employed in agriculture and construction, but also relevant for indoor factory workers,” it added.",CNN,12/06/2024,"['A one-of-its-kind insurance policy has started making payouts to tens of thousands of women across India to help them cope with the impact of extreme heat.', 'Fifty thousand women in 22 districts across the states of Rajasthan, Maharashtra and Gujarat received a $5 payments as temperatures topped 40 degrees Celsius (104 Fahrenheit) last month in several parts of the country.', '“This is the first time that insurance payouts and a direct cash assistance program have been combined to supplement the income of women when it’s dangerously hot,” saidKathy Baughman McLeod, CEO of Climate Resilience for All, a not-for-profit organization that designed the insurance in partnership with India’s Self-Employed Women’s Association (SEWA), a trade union with nearly three million members.', 'From small farmers to casual laborers, many SEWA members depend on agriculture for their livelihoods, and that makes them particularly vulnerable to climate change.', 'Indian women working in agriculture typically earn about 300 rupees ($3.60) per day.', 'Outdoor work in such extreme heat can lead to chronic rashes, dizziness, burns, infections, and miscarriage, according to Climate Resilience for All.', 'Such high temperatures can also destroy crops or merchandise, which can have a debilitating impact on household debt for low-income families.', 'The insurance is underwritten by Swiss Re and provided locally by ICICI Lombard.', 'More than 46,000 women were given additional insurance payments, with some receiving up to $19.80 each.', 'Overall payments across the program amounted to over $340,000, Climate Resilience for All said in a statement on Wednesday.', '“The money from the program has allowed me to pay for my medical expenses and to buy food for my family,” said Arunaben Makwana, one of the beneficiaries, said in the statement.', 'The insurance plan is currently offered to members of SEWA, who work across India’s vast informal sector.', 'According to McLeod, the program may be rolled out to more communities across South Asia, as well as east and west Africa in the coming year.', 'Such insurance initiatives may become critical worldwide as policymakers grapple with a much hotter planet.', 'India has endured a scorching summer — with a part of the capital of Delhi recording the country’s highest-ever temperature of 49.9 degrees Celsius (121.8 Fahrenheit) last month.', 'Rising mercury levels in the country risks reversing progress on poverty alleviation, health and economic growth, experts say.', 'India is“expected to lose about 5.8% of daily working hours dueto heat stress in 2030,” said aUnited Nations’Economic and Social Commission for Asia and the Pacific(ESCAP) report in April.', '“The problem is mostsevere for outdoor workers, particularly those employed in agriculture and construction, but also relevant for indoorfactory workers,” it added.']",-0.0308527070769996,A one-of-its-kind insurance policy has started making payouts to tens of thousands of women across India to help them cope with the impact of extreme heat.,"Such high temperatures can also destroy crops or merchandise, which can have a debilitating impact on household debt for low-income families.",-0.0348108187317848,A one-of-its-kind insurance policy has started making payouts to tens of thousands of women across India to help them cope with the impact of extreme heat.,"India is“expected to lose about 5.8% of daily working hours dueto heat stress in 2030,” said aUnited Nations’Economic and Social Commission for Asia and the Pacific(ESCAP) report in April.",2024-06-15 -Problematic titanium was found in Boeing and Airbus jets. The FAA is investigating how it got there,https://edition.cnn.com/2024/06/14/business/faa-probe-counterfeit-titanium-boeing-airbus/index.html," - Updated - 11:18 AM EDT, Fri June 14, 2024 - ","Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. - - The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets. The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report. - - The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. - - “To ensure compliance, we are removing any affected parts on airplanes prior to delivery. Our analysis shows the in-service fleet can continue to fly safely.” - - Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain. - - “When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.” - - Airbus said it is aware of the situation. - - “Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “They show that the A220’s airworthiness remains intact.”  - - The FAA said it trying to determine the safety implications to planes that were made using the parts. It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220. - - “Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.” - - Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally. - - The most serious and high profile problems involve Boeing,  which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet. More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side. - - Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.",CNN,14/06/2024,"['Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets.', 'Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.', 'The probe, first reported by the New York Times Friday, is the latest black eye for the aerospace industry, which has had a series of problems recently with the quality and safety issues involving jets.', 'The investigation comes after small holes were discovered in the material, apparently from corrosion, according to the Times report.', 'The FAA and Boeing confirmed that they are investigating the matter.', 'Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used.', '“To ensure compliance, we are removing any affected parts on airplanes prior to delivery.', 'Our analysis shows the in-service fleet can continue to fly safely.”', 'Spirit said the investigation is looking into counterfeit documents that allowed the questionable titanium to enter the supply chain.', '“When this was identified, all suspect parts were quarantined and removed from Spirit production,” said Joe Buccino, a spokesperson for Spirit. “', 'More than 1,000 tests have been completed to confirm the mechanical and metallurgical properties of the affected material to ensure continued airworthiness.”', 'Airbus said it is aware of the situation.', '“Numerous tests have been performed on parts coming from the same source of supply,” it said in its statment. “', 'They show that the A220’s airworthiness remains intact.”', 'The FAA said it trying to determine the safety implications to planes that were made using the parts.', 'It is unclear how many planes have parts made with the questionable material, according to the Times, which said among the planes with the parts were the Boeing 737 Max and 787 Dreamliner and the Airbus 220.', '“Boeing reported a voluntary disclosure to the FAA regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “', 'Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.”', 'Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.', 'The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.', 'More recently a door plug blew off an Alaska Airlines 737 Max flight on January 5, forcing the plane to land with a gaping hole in its side.', 'Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.']",-0.0347575921606773,"Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public.","The most serious and high profile problems involve Boeing, which had two fatal crashes of its 737 Max due to a design flaw in 2018 and 2019 that killed 346 people and led to a 20-month grounding of the jet.",-0.4172341312680925,Our analysis shows the in-service fleet can continue to fly safely.”,"Besides stirring concerns among passengers about the safety of flying, the growing list of problems for the aviation industry have reduced the capacity of planes available to fly, and thus put upward pressure of airfares in the face of strong demand for air travel globally.",2024-06-15 -The battle for Gen Z social shoppers,https://www.bbc.co.uk/news/articles/c511p8gdn21o,2024-06-13T23:09:47.653Z,"Shopping habits have not been the same since the Covid pandemic and resulting lockdowns. For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce. Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt. The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times. For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. ""It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds. Social shopping is a big market and growing fast. In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista. While TikTok is one of the big players, its position looks vulnerable. TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance. So where would that leave social shopping? If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer. Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds. But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg. Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “It’s a very important activity on the app, especially for its users,” says Ms Enberg. Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app. Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says. A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon. Perhaps TikTok's experience in Indonesia might have some useful lessons. In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop. But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close. For 26-year-old entrepreneur Evo Syah it was a major blow. “It’s hard for me, but what I can do?” he says recalling the tough decisions he had to make. “I just start my business for one year, and then they shut me down,” he says. But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app. The 26-year-old said he “never felt happier”. But not everything went back to normal. ""Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily. But after it reopened again that’s down to 10 million rupiah (£483),” he says. Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “Indonesia is a very different commerce landscape to the US,” she says. However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “Many of them don't really have another place that is as powerful as TikTok.” Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “Instagram Reels is the most natural fit for a lot of displaced TikTok users. But we'll probably also see a rise of new apps."" Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned. Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “In a world where this may happen. I think this next big thing has yet to be created,” adds AJ. ",BBC,13/06/2024,"['Shopping habits have not been the same since the Covid pandemic and resulting lockdowns.', 'For many, and particularly younger shoppers, it saw the lines blur between social media and e-commerce.', 'Unable to shop in person, and with TikTok downloads soaring, a trend began that would go on to be described as a cultural phenomenon: #TikTokMadeMeBuyIt.', 'The hashtag, where users post what they’ve bought thanks to recommendations about products on the app, has now been posted more than seven billion times.', 'For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. ""', 'It’s become one of the biggest because of how advanced the algorithm is, and because, before TikTok Shop even was created, we were seeing shopping behaviours happening on TikTok as a whole,” says 27-year-old Lilia Souri. “', 'You can purchase a product directly on the platform, and then continue scrolling, in a cycle of watch, shop, repeat,” her co-host AJ Pulvirenti, 25, adds.', 'Social shopping is a big market and growing fast.', 'In 2023 globally it was worth $570bn (£446bn), and is forecast to be worth more than a trillion dollars by 2028, according to estimates by Statista.', 'While TikTok is one of the big players, its position looks vulnerable.', 'TikTok could be banned in the US unless it is sold by its Chinese parent company ByteDance.', 'So where would that leave social shopping?', 'If you look at the number of buyers, then Facebook is still the biggest presence in social shopping, according to Jasmine Enberg, chief social media analyst at E Marketer.', 'Most of its transactions take place on Facebook Marketplace, “one of the few places where Gen-Z and young people still go to on Facebook,” she adds.', ""But if you're looking at the percentage of users who actually buy something, then TikTok is ahead, says Ms Enberg."", 'Data from US-based E-marketer suggests 40% of TikTok users in the US will make at least one purchase on the platform this year, in front of both Facebook and Instagram. “', 'It’s a very important activity on the app, especially for its users,” says Ms Enberg.', 'Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.', 'Gen Z podcaster AJ Pulvirenti is sceptical about these new features. “', ""When a platform just tries to replicate something from another platform and doesn't offer anything very new or intriguing about it, it's not going to make people feel inclined to switch from something that they're used to,” he says."", 'A recent study by market-research firm Data.ai suggests that Gen Z spend around two hours a day on TikTok, compared to a little less than 10 minutes on Amazon.', ""Perhaps TikTok's experience in Indonesia might have some useful lessons."", ""In 2021 it became the first country to pilot the app's e-commerce service, and became one of the biggest markets for TikTok Shop."", 'But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.', 'For 26-year-old entrepreneur Evo Syah it was a major blow. “', 'It’s hard for me, but what I can do?”', 'he says recalling the tough decisions he had to make. “', 'I just start my business for one year, and then they shut me down,” he says.', 'But two months after the closure, TikTok agreed to invest $1.5bn in Indonesia’s biggest e-commerce platform Tokopedia, meaning sellers like Evo Syah and millions of others could return to the app.', 'The 26-year-old said he “never felt happier”.', 'But not everything went back to normal. ""', 'Before the TikTok shop closed I could get sales like 20 million rupiah (£966) daily.', 'But after it reopened again that’s down to 10 million rupiah (£483),” he says.', 'Mr Syah sells most of his products on livestreams, a selling method which has boomed in popularity in Asia, but according to Ms Enberg has failed to take off in the UK and US. “', 'Indonesia is a very different commerce landscape to the US,” she says.', 'However, in both Indonesia and the US, TikTok Shop has been crucial for a lot of small and local merchants, she adds. “', ""Many of them don't really have another place that is as powerful as TikTok.”"", 'Looking ahead to a potential US ban, Ms Enberg says it would send ripples through the world of social shopping. “', 'Instagram Reels is the most natural fit for a lot of displaced TikTok users.', 'But we\'ll probably also see a rise of new apps.""', 'Gen Z podcast hosts AJ Pulvirenti and Lilia Souri agree: “In a world where maybe TikTok is banned.', ""Those behaviours are still going to exist and they're still going to thrive,” Lilia says. “"", 'In a world where this may happen.', 'I think this next big thing has yet to be created,” adds AJ.']",0.0621521731102571,"Keen not to be left out, Amazon added a Consult-a-Friend feature last year, allowing customers to ask friends for advice while scrolling through its app.","But with local commerce suffering in the wake of the pandemic, the government introduced rules last October to protect local retailers, which forced TikTok Shop to close.",0.0839516749748816,"For Lilia Souri and AJ Pulvirenti who co-host the marketing podcast ""Gen Z on Gen Z"", TikTok is winning with their generation. """,For 26-year-old entrepreneur Evo Syah it was a major blow. “,2024-06-15 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-06-15 -Gas prices are cheaper than last summer and miles away from the nightmare of 2022,https://edition.cnn.com/2024/06/14/economy/gas-prices-down-since-last-summer/index.html," - Published - 6:30 AM EDT, Fri June 14, 2024 - ","Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally. - - The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets. It helped propel the national inflation rate to 9% for the first time since the early 1980s. - - “Five-dollar gas sent shockwaves through the system. No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy. - - Gas prices today are not cheap – but they are miles away from that point. - - The national average for regular gas stood at $3.46 a gallon on Thursday, according to AAA. Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year. - - “We’ve come a long way. We’re in a much healthier and balanced market than two years ago,” said De Haan. - - Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low. Even in June 2021, the national average was a bit lower, at about $3.08 a gallon. - - Gas prices peaked this spring at $3.68 a gallon on April 19. The fact that prices have moved steadily lower since then has helped take pressure off cash-strapped consumers. - - Cooler gas prices have also played a central role in helping to drive down inflation. - - The Bureau of Labor Statistics said this week that monthly consumer prices were unchanged between April and May for the first time in nearly two years. One of the biggest catalysts was the fact that prices at the pump have become cheaper. - - Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year. That, in turn, would give borrowers a break from historically high rates on mortgages, credit cards and car loans. - - There could be political implications, too. In part because they are so visible, gas prices play a key psychological role in how people feel about the economy. - - It’s not clear if voters will — or even should — credit the White House for falling gas prices. However, a spike to $4 would likely have negative consequences for President Joe Biden’s reelection campaign, since it would feed concerns about the high cost of living and further dent relatively low consumer confidence. - - “Gas prices are so central to how people think about their financial situation. They are the single most important variable in terms of how people are doing — especially low-income households,” said Mark Zandi, chief economist at Moody’s Analytics. - - Drivers in some states are paying much less than a year ago for gasoline, including Utah (69 cents), Washington (47 cents) and Idaho (38 cents). There are also significant 12-month price drops in some key battleground states such as Arizona (59 cents), Wisconsin (33 cents) and Nevada (24 cents), according to AAA. - - “As the summer driving season continues, Americans are seeing gas prices drop around the country,” White House spokesperson Angelo Fernández Hernández told CNN in a statement. “But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.” - - Many people may wish for the $2 gas prices of last decade. Of course, people are making more money than they were a decade ago, so it’s not a fair comparison. - - Yet, on an inflation-adjusted basis, gas prices are right in line with where they were before Covid. - - Real (inflation-adjusted) gas prices stood at $3.34 a gallon in June 2019 and $3.61 in June 2018, according to the US Energy Information Administration. The current national average of $3.46 is in the middle of that. - - Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.” - - Indeed, even though the oil industry frequently battles with the White House over regulation, US oil output is off the charts. - - Powered by the shale oil boom, the United States produced 13.2 million barrels of crude oil per day in March, according to federal statistics. That’s just shy of the record 13.3 million in November. - - “Just think about where gasoline prices would be without US shale,” said Rob Thummel, senior portfolio manager at energy investment firm Tortoise. - - Oil prices are higher than at this point last year, in part because OPEC+ continues to restrain production. That also reflects concerns about both the war in Ukraine and the Israel-Gaza war. - - Gas prices, however, have been guided lower by improving stockpiles of gasoline. - - “It’s all about inventories,” Thummel said. “Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season. That’s good news for consumers.” - - GasBuddy’s De Haan noted that gas prices have been on the low end of what his firm was forecasting for June, in part because fewer people are driving. - - If a hurricane or oil price shock is avoided, De Haan said gas prices should remain subdued. (Experts have forecast a hyperactive Atlantic hurricane season this year.) - - “It’s a good outcome — dare I say a better-than-expected outcome,” he said.",CNN,14/06/2024,"['Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally.', 'The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets.', 'It helped propel the national inflation rate to 9% for the first time since the early 1980s.', '“Five-dollar gas sent shockwaves through the system.', 'No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy.', 'Gas prices today are not cheap – but they are miles away from that point.', 'The national average for regular gas stood at $3.46 a gallon on Thursday, according to AAA.', 'Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year.', '“We’ve come a long way.', 'We’re in a much healthier and balanced market than two years ago,” said De Haan.', 'Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low.', 'Even in June 2021, the national average was a bit lower, at about $3.08 a gallon.', 'Gas prices peaked this spring at $3.68 a gallon on April 19.', 'The fact that prices have moved steadily lower since then has helped take pressure off cash-strapped consumers.', 'Cooler gas prices have also played a central role in helping to drive down inflation.', 'The Bureau of Labor Statistics said this week that monthly consumer prices were unchanged between April and May for the first time in nearly two years.', 'One of the biggest catalysts was the fact that prices at the pump have become cheaper.', 'Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year.', 'That, in turn, would give borrowers a break from historically high rates on mortgages, credit cards and car loans.', 'There could be political implications, too.', 'In part because they are so visible, gas prices play a key psychological role in how people feel about the economy.', 'It’s not clear if voters will — or even should — credit the White House for falling gas prices.', 'However, a spike to $4 would likely have negative consequences for President Joe Biden’s reelection campaign, since it would feed concerns about the high cost of living and further dent relatively low consumer confidence.', '“Gas prices are so central to how people think about their financial situation.', 'They are the single most important variable in terms of how people are doing — especially low-income households,” said Mark Zandi, chief economist at Moody’s Analytics.', 'Drivers in some states are paying much less than a year ago for gasoline, including Utah (69 cents), Washington (47 cents) and Idaho (38 cents).', 'There are also significant 12-month price drops in some key battleground states such as Arizona (59 cents), Wisconsin (33 cents) and Nevada (24 cents), according to AAA.', '“As the summer driving season continues, Americans are seeing gas prices drop around the country,” White House spokesperson Angelo Fernández Hernández told CNN in a statement. “', 'But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.”', 'Many people may wish for the $2 gas prices of last decade.', 'Of course, people are making more money than they were a decade ago, so it’s not a fair comparison.', 'Yet, on an inflation-adjusted basis, gas prices are right in line with where they were before Covid.', 'Real (inflation-adjusted) gas prices stood at $3.34 a gallon in June 2019 and $3.61 in June 2018, according to the US Energy Information Administration.', 'The current national average of $3.46 is in the middle of that.', 'Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.”', 'Indeed, even though the oil industry frequently battles with the White House over regulation, US oil output is off the charts.', 'Powered by the shale oil boom, the United States produced 13.2 million barrels of crude oil per day in March, according to federal statistics.', 'That’s just shy of the record 13.3 million in November.', '“Just think about where gasoline prices would be without US shale,” said Rob Thummel, senior portfolio manager at energy investment firm Tortoise.', 'Oil prices are higher than at this point last year, in part because OPEC+ continues to restrain production.', 'That also reflects concerns about both the war in Ukraine and the Israel-Gaza war.', 'Gas prices, however, have been guided lower by improving stockpiles of gasoline.', '“It’s all about inventories,” Thummel said. “', 'Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season.', 'That’s good news for consumers.”', 'GasBuddy’s De Haan noted that gas prices have been on the low end of what his firm was forecasting for June, in part because fewer people are driving.', 'If a hurricane or oil price shock is avoided, De Haan said gas prices should remain subdued. (', 'Experts have forecast a hyperactive Atlantic hurricane season this year.)', '“It’s a good outcome — dare I say a better-than-expected outcome,” he said.']",-0.0172441582978024,Easing inflation has kept alive hopes that the Federal Reserve will be able to start cutting interest rates at least once before the end of the year.,That also reflects concerns about both the war in Ukraine and the Israel-Gaza war.,0.3638310879468918,"Although the White House spokesperson noted “historic investments” in clean energy, he also acknowledged that “record domestic oil and gas production is helping to meet our immediate needs.”","Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year.",2024-06-15 -"Investigation underway into rare, unsafe airliner roll experienced by a Boeing 737 Max",https://edition.cnn.com/2024/06/14/business/boeing-737-max-dutch-roll-investigation/index.html," - Updated - 3:46 PM EDT, Fri June 14, 2024 - ","Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight. - - The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight. - - There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA. The report said the crew “regained control,” and the plane safely landed. - - But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.” The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder. - - It is unclear if the damaged unit led to or was a result of the roll. - - The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state. Boeing did not immediately comment to CNN. - - Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation. - - The incident occurred almost three weeks ago and was added to a FAA database this week. There were 175 passengers and six crew onboard, according to the airline. - - The NTSB confirmed it has opened an investigation into this incident. Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.” - - Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten. - - In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt. It said the flaw would prevent the pilots from controlling the rudder using foot pedals. Authorities have not said if this condition and the Dutch roll last month are related. - - Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight. - - “It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN. “It’s a very uncomfortable movement and you feel the tail swinging around.” - - While moving forward in flight, airplanes can pivot along three axis: Nose up and down, known as pitch; wings dipping down or raising up, known as roll; and the tail shifting left or right, known as yaw. - - Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers. These large aircraft also have yaw dampers that make small adjustments throughout flight. - - In the Dutch roll, the plane both rolls and yaws excessively. Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said. - - She said airline pilots train for scenarios where their yaw dampers fail. They could take an aircraft simulator to a high altitude and turn off the yaw damper. - - “Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said. - - To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air. Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input. - - But the forces can be powerful. In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls. - - “The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”",CNN,14/06/2024,"['Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.', 'The oscillating motion is known as a Dutch roll, and one characteristic described by the Federal Aviation Administration is the nose of an aircraft making a figure-eight.', 'There were no injuries onboard Southwest Airlines flight 746 on May 25, according to the airline and a preliminary report by the FAA.', 'The report said the crew “regained control,” and the plane safely landed.', 'But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”', 'The FAA report said an inspection “revealed damage to the standby PCU,” or power control unit, which controls the rudder.', 'It is unclear if the damaged unit led to or was a result of the roll.', 'The plane has not flown since landing in Oakland, California after the incident, except to move it to a Boeing facility in Washington state.', 'Boeing did not immediately comment to CNN.', 'Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.', 'The incident occurred almost three weeks ago and was added to a FAA database this week.', 'There were 175 passengers and six crew onboard, according to the airline.', 'The NTSB confirmed it has opened an investigation into this incident.', 'Investigators have downloaded data from the flight data recorder, which “will aid investigators in determining the length and severity of the event.”', 'Voice recordings from the voice data recorder – the other of the so-called black boxes - were overwritten.', 'In February, the FAA required airlines flying some 737 Max 8 and similar aircraft to inspect the rudder assembly for loose or missing nut, washer and bolt.', 'It said the flaw would prevent the pilots from controlling the rudder using foot pedals.', 'Authorities have not said if this condition and the Dutch roll last month are related.', 'Most passengers have never felt a plane make this movement — and most airline pilots have never experienced it in actual flight.', '“It’s very obscure,” aviation safety analyst and former airline pilot Kathleen Bangs told CNN.“It’s a very uncomfortable movement and you feel the tail swinging around.”', 'While moving forward in flight, airplanes can pivot along three axis:Nose up and down, known as pitch; wings dipping down or raising up, known as roll;and the tail shifting left or right, known as yaw.', 'Airliners turn using a typically seamless combination of roll and yaw coordinated by the aircraft’s computers.', 'These large aircraft also have yaw dampers that make small adjustments throughout flight.', 'In the Dutch roll, the plane both rolls and yaws excessively.', 'Passengers would feel the plane shift to one side, and back to the other — moving back and forth, Bangs said.', 'She said airline pilots train for scenarios where their yaw dampers fail.', 'They could take an aircraft simulator to a high altitude and turn off the yaw damper.', '“Then you stomp on a rudder pedal really hard to try to initiate [the roll] in the simulator,” Bangs said.', 'To get out of a Dutch roll, pilots can slow the aircraft and descend to thicker air.', 'Modern airliners are designed to be inherently stable in air, she said, so the plane may return to level flight with minimal additional input.', 'But the forces can be powerful.', 'In 1959, four of the eight occupants on a Boeing 707 test and training flight were killed just outside of Washington, DC, after extremely steep Dutch rolls.', '“The aircraft immediately yawed and rolled violently to the right,” reads a report from the Civil Aeronautics Board, which investigated the incident. “', 'Several gyrations followed and after control of the aircraft was regained, it was determined that three of the four engines had separated from the aircraft and it was on fire.”']",-0.0812634494333823,Southwest told CNN it referred the incident to the FAA and National Transportation Safety Board and is participating in and supporting the investigation.,But the aircraft suffered “substantial” damage and the FAA classified the incident as an “accident.”,-0.9796725809574128,,"Federal authorities and Boeing are trying to figure out why a 737 Max 8 experienced a rare, unsafe back-and-forth roll during flight.",2024-06-15 -"In CEO meeting, Trump promised more tax cuts",https://edition.cnn.com/2024/06/14/investing/trump-tax-cuts/index.html," - Updated - 9:12 AM EDT, Fri June 14, 2024 - ","Former President Donald Trump told some of America’s most powerful business leaders this week that he plans to once against slash corporate taxes, four people familiar with the matter told CNN. - - During his meeting on Thursday with CEOs in Washington, Trump told the executives he wants to cut the corporate tax rate to 20%, down from 21% currently, the sources said. - - Trump met privately with roughly 100 corporate leaders, including JPMorgan CEO Jamie Dimon, Apple CEO Tim Cook and Walmart CEO Doug McMillon, according to one of the people familiar with the matter. - - Trump has previously said that one of his core issues for a second term would be extending the 2017 Tax Cuts and Jobs Act, one of his signature achievements in office. - - Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office. - - An even deeper cut to the corporate rate could add to the cost. - - Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN. - - Trump said he wants to make all of the tax cuts enacted in 2017 permanent and also discussed with the CEOs the border, inflation and energy — including the need for more oil production, sources said. - - A Trump campaign official confirmed to CNN that Trump said he’d like to make all of the 2017 Trump tax cuts permanent and lower the corporate rate to 20%. - - Trump’s comments on tax cuts were previously reported by the New York Times and other outlets.",CNN,14/06/2024,"['Former President Donald Trump told some of America’s most powerful business leaders this week that he plans to once against slash corporate taxes, four people familiar with the matter told CNN.', 'During his meeting on Thursday with CEOs in Washington, Trump told the executives he wants to cut the corporate tax rate to 20%, down from 21% currently, the sources said.', 'Trump met privately with roughly 100 corporate leaders, including JPMorgan CEO Jamie Dimon, Apple CEO Tim Cook and Walmart CEO Doug McMillon, according to one of the people familiar with the matter.', 'Trump haspreviously saidthat one of his core issues for a second term would be extending the 2017 Tax Cuts and Jobs Act, one of his signature achievements in office.', 'Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office.', 'An even deeper cut to the corporate rate could add to the cost.', 'Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.', 'Trump said he wants to make all of the tax cuts enacted in 2017 permanent and also discussed with the CEOs the border, inflation and energy — including the need for more oil production, sources said.', 'A Trump campaign official confirmed to CNN that Trump said he’d like to make all of the 2017 Trump tax cuts permanent and lower the corporate rate to 20%.', 'Trump’s comments on tax cuts were previously reported bythe New York Timesand other outlets.']",-0.0863362313088516,"Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.","Those tax cuts, widely criticized by Democrats, are set to expire at the end of 2025 and extending them could cost $4.6 trillion, according to the Congressional Budget Office.",-0.2967726190884908,"Trump, meeting with CEOs at the powerful Business Roundtable lobbying group, said he wants to lower the rate to 20% because it’s a round number and would boost jobs by making the United States more competitive on the global stage, the person familiar with the matter told CNN.",An even deeper cut to the corporate rate could add to the cost.,2024-06-15 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-06-15 -The Indian games industry's storytelling trailblazers,https://www.bbc.co.uk/news/articles/c8vv58ry8q2o,2024-06-14T00:51:03.325Z,"India might not be the first country that springs to mind when someone mentions video games, but it's one of the fastest-growing markets in the world. Analysts believe there could be more than half a billion players there by the end of this year. Most of them are playing on mobile phones and tablets, and fans will tell you the industry is mostly known for fantasy sports games that let you assemble imaginary teams based on real players. Despite concerns over gambling and possible addiction, they're big business. The country's three largest video game startups - Game 24X7, Dream11 and Mobile Premier League – all provide some kind of fantasy sport experience and are valued at over $1bn. But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment. During the recent Summer Game Fest (SGF) - an annual showcase of new and upcoming titles held in Los Angeles and watched by millions - audiences saw previews of a number of story-rich titles from South Asian teams. One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective. Industry veteran Shalin Shodhan is behind the game and tells BBC Asian Network this focus on unique stories is “bucking the trend” in India's games industry. He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “There really isn’t anything in the marketplace to make stories about India,"" he says, despite the strength of some of the country's other cultural industries. “If you think about how much intellectual property there is in film in India, it is really surprising to think nothing indigenous exists as an original entertainment property in games,"" he says. ""It’s almost like the Indian audience accepted that we’re just going to play games from outside.” Another game shown during SGF was The Palace on the Hill – a ""slice-of-life"" farming sim set in rural India. Mala Sen, from developer Niku Games, says games like this and Detective Dotson are what “India needed”. “We know that there are a lot of people in India who want games where characters and setting are relatable to them,"" she says. Games developed by South Asian teams based in western countries have been finding critical praise and commercial success in recent years. Venba, a cooking sim that told the story of a migrant family reconnecting with their heritage through food, became the first game of its kind to take home a Bafta Game Award this year. Canada-based Visai Games, which developed the title, was revealed during SGF as one of the first beneficiaries of a new fund set up by Among Us developer Innersloth to boost fellow indie developers. That will go towards their new, unnamed project based on ancient Tamil legends. Another title awarded funding by the scheme was Project Dosa, from developer Outerloop, that sees players pilot giant robots, cook Indian food and fight lawyers. Its previous game, Thirsty Suitors, was also highly praised and nominated for a Bafta award this year. Games such as these resonating with players worldwide helps perceptions from the wider industry, says Mumbai-based Indrani Ganguly, of Duronto Games. “Finally, people are starting to see we’re not just a place for outsource work,” she says. “We’re moving from India being a technical space to more of a creative hub. “I’m not 100% seeing a shift but that’s more of a mindset thing. ""People who are able to make these kinds of games have always existed but now there is funding and resource opportunities available to be able to act on these creative visions.” British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “They make me feel very proud,"" she says. ""We’re coming to a point where the industry is growing massively, both in terms of hours spent gaming but more importantly in the variety of the games. ""When you have authentic local stories told from the heart, that’s something everyone can relate to.” Charu says funding for ""unique and quirky stories has been an issue"" but recent successes such as Venba and Thirsty Suitors have shown there is an appetite for south Asian stories told by south Asian developers. Some of the industry's biggest companies are also paying attention. Last year, Sony launched its India Hero Project with a goal to “unearth and empower India’s brightest game development talents” via mentorship and funding. Its first cohort of games included slice-of-life games Fishbowl, museum exploration game Mukti and rhythm-action game Suri: the Seventh Note, inspired by mythical Indian stories from the Himalayas to Rajasthan. Meanwhile french publishing giant Ubisoft’s Indie Series has supported Thousand Star Studios in creating Aikyam – a Bollywood-inspired fantasy roleplaying game set to be released this year. Charu says video games and their interactivity allow people to “understand a concept on a very deep level."" “It’s not just about me appreciating my south Asian roots but its about other people really connecting with the authenticity of that experience,” says Charu. “It takes time for an industry to evolve and mature,"" she says. ""We’re in the early days as an industry as a whole, even in the west. ""But people now have access to technology and India is also a nation that loves to tell stories.” Listen to Ankur Desai's show on BBC Asian Network live from 15:00-18:00 Monday to Thursday - or listen back here. ",BBC,14/06/2024,"[""India might not be the first country that springs to mind when someone mentions video games, but it's one of the fastest-growing markets in the world."", 'Analysts believe there could be more than half a billion players there by the end of this year.', 'Most of them are playing on mobile phones and tablets, and fans will tell you the industry is mostly known for fantasy sports games that let you assemble imaginary teams based on real players.', ""Despite concerns over gambling and possible addiction, they're big business."", ""The country's three largest video game startups - Game 24X7, Dream11 and Mobile Premier League – all provide some kind of fantasy sport experience and are valued at over $1bn."", ""But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment."", 'During the recent Summer Game Fest (SGF) - an annual showcase of new and upcoming titles held in Los Angeles and watched by millions - audiences saw previews of a number of story-rich titles from South Asian teams.', 'One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective.', ""Industry veteran Shalin Shodhan is behind the game and tells BBC Asian Network this focus on unique stories is “bucking the trend” in India's games industry."", ""He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “"", 'There really isn’t anything in the marketplace to make stories about India,"" he says, despite the strength of some of the country\'s other cultural industries. “', 'If you think about how much intellectual property there is in film in India, it is really surprising to think nothing indigenous exists as an original entertainment property in games,"" he says. ""', 'It’s almost like the Indian audience accepted that we’re just going to play games from outside.”', 'Another game shown during SGF was The Palace on the Hill – a ""slice-of-life"" farming sim set in rural India.', 'Mala Sen, from developer Niku Games, says games like this and Detective Dotson are what “India needed”. “', 'We know that there are a lot of people in India who want games where characters and setting are relatable to them,"" she says.', 'Games developed by South Asian teams based in western countries have been finding critical praise and commercial success in recent years.', 'Venba, a cooking sim that told the story of a migrant family reconnecting with their heritage through food, became the first game of its kind to take home a Bafta Game Award this year.', 'Canada-based Visai Games, which developed the title, was revealed during SGF as one of the first beneficiaries of a new fund set up by Among Us developer Innersloth to boost fellow indie developers.', 'That will go towards their new, unnamed project based on ancient Tamil legends.', 'Another title awarded funding by the scheme was Project Dosa, from developer Outerloop, that sees players pilot giant robots, cook Indian food and fight lawyers.', 'Its previous game, Thirsty Suitors, was also highly praised and nominated for a Bafta award this year.', 'Games such as these resonating with players worldwide helps perceptions from the wider industry, says Mumbai-based Indrani Ganguly, of Duronto Games. “', 'Finally, people are starting to see we’re not just a place for outsource work,” she says. “', 'We’re moving from India being a technical space to more of a creative hub. “', 'I’m not 100% seeing a shift but that’s more of a mindset thing. ""', 'People who are able to make these kinds of games have always existed but now there is funding and resource opportunities available to be able to act on these creative visions.”', 'British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “', 'They make me feel very proud,"" she says. ""', 'We’re coming to a point where the industry is growing massively, both in terms of hours spent gaming but more importantly in the variety of the games. ""', 'When you have authentic local stories told from the heart, that’s something everyone can relate to.”', 'Charu says funding for ""unique and quirky stories has been an issue"" but recent successes such as Venba and Thirsty Suitors have shown there is an appetite for south Asian stories told by south Asian developers.', ""Some of the industry's biggest companies are also paying attention."", 'Last year, Sony launched its India Hero Project with a goal to “unearth and empower India’s brightest game development talents” via mentorship and funding.', 'Its first cohort of games included slice-of-life games Fishbowl, museum exploration game Mukti and rhythm-action game Suri: the Seventh Note, inspired by mythical Indian stories from the Himalayas to Rajasthan.', 'Meanwhile french publishing giant Ubisoft’s Indie Series has supported Thousand Star Studios in creating Aikyam – a Bollywood-inspired fantasy roleplaying game set to be released this year.', 'Charu says video games and their interactivity allow people to “understand a concept on a very deep level."" “', 'It’s not just about me appreciating my south Asian roots but its about other people really connecting with the authenticity of that experience,” says Charu. “', 'It takes time for an industry to evolve and mature,"" she says. ""', 'We’re in the early days as an industry as a whole, even in the west. ""', 'But people now have access to technology and India is also a nation that loves to tell stories.”', ""Listen to Ankur Desai's show on BBC Asian Network live from 15:00-18:00 Monday to Thursday - or listen back here.""]",0.374573562205407,But there's hope that a crop of story-driven games making a splash worldwide could inspire a new wave of creativity and investment.,"One of those was Detective Dotson by Masala Games, based in Gujarat, about a failed Bollywood actor turned detective.",0.7896140109408986,British-Indian game developer Charu Desodt believes the success of titles such as Venba has been thanks to their commitment to authenticity. “,He wants video games to become an “interactive cultural export” but says he's found creating new intellectual property difficult. “,2024-06-15 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-06-15 -"Maker of Jeep and Dodge plans to kill chrome on cars, citing risks to those who make it",https://edition.cnn.com/2024/06/14/cars/chrome-cars-stellantis-jeep-volkswagen-vw/index.html," - Published - 7:30 AM EDT, Fri June 14, 2024 - ","Chrome’s century-long reign as that added bit of flash and glamour on new cars may be coming to an end. For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal. - - Chrome has long provided an eye-catching sparkle, creating an upscale look while also protecting unpainted metal car parts from corrosion. It’s served as a by-word for (especially American) automotive opulence. - - “Chrome on a car is the automotive equivalent of using jewelry on an outfit,” said Leslie Kendall, head curator of the Petersen Automotive Museum in Los Angeles. - - But Stellantis – the company that makes Dodge, Jeep, Ram, Fiat, and Maserati vehicles – among others, is committed to doing away with chrome on all its new models. - - The plan even has a name. Inside Stellantis, it’s called “Death of Chrome,” said Stellantis’s chief global designer, Ralph Gilles. Stellantis vehicles, including its newest Jeep model, will sport badges and trim pieces that may not have chrome’s mirror-like shine but customers will come to like them even better, Gilles promises. - - “Death of Chrome” comes in response to chrome plating’s lesser-known dark side. Hexavalent chromium, or “chromium 6,” the form of the element chromium involved in the plating process, is an aggressive cancer-causing agent, according to government regulators in the United States and Europe. - - “Hexavalent chromium is a carcinogen that is the second most potent toxic air contaminant identified by the state,” the California Air Resources Board said in a statement provided to CNN. “It is 500 times more toxic than diesel exhaust and has no known safe level of exposure.” - - This does not mean that the chrome-plated parts on your car or motorcycle are dangerous. The metallic form of chrome that provides the mirror shine on a car brand’s logo or trim is perfectly safe. The risk to human health comes during the electro-plating process, regulators say, when the hexavalent chromium that is used can come into contact with workers or be released into the atmosphere. - - Chrome platers have methods to contain the vapors and minimize human exposure. Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years. But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods. - - Hexavalent chromium is used in a number of different industries besides automotive. It’s also used to increase the hardness of steel, for instance, and as an anti-corrosive agent added to paints, according to the Occupational Safety and Health Administration. In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business. In that case, a Michigan environmental agency cleaned up the toxic mess. - - The National Association for Surface Finishing, an industry organization representing chrome platers, among others, said their industry has made a lot of progress to keep chrome plating safe for workers and the environment but acknowledged alternatives are needed. - - “Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately 99.9% reduction in hexavalent chromium air emissions since 1995 to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “NASF is working in partnership with the automotive industry to ensure a transition to the safest and most sustainable alternatives and replacements.” - - There are are less dangerous alternatives, Gilles said, but, for now, at least, they either don’t look as good as traditional chrome plate, don’t last as long, or are prohibitively expensive for mass production vehicles. For instance, trivalent chrome uses a different form of chromium and a simpler process. - - “The problem is the luster isn’t as good. It has a more yellow kind of finish,” Gilles said. “Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it. They don’t realize what they’re looking at, but they’ve come to love it. We have to make them unlove it.” - - The best way to do that, said Gilles, will be to entice car buyers with styles and designs that don’t use chrome at all, or anything like it. There are the extremely popular “blackout packages” that are already available as an option on most Stellantis models. These replace all the exterior “brightwork,” like chrome badges and grilles, with matte black pieces for a dark, sinister look. - - “Sometimes people go and personally convert their cars to blackout packages,” Gilles said. “They call it ‘murdered out’ on the street.” - - Years ago, Gilles even did it to his own 2016 Chrysler minivan creating a look that eventually came to market as the Chrysler Pacifica S Package with a black grille and a black-winged Chrysler logo. - - Black’s not the only option, though. The “murdered out” look doesn’t work for everyone. - - “Sometimes a vehicle can look a little bit ‘triste,’ as they say in French, sad, when it’s all black,” said Gilles. - - Polished stainless steel looks a lot like chrome but it’s expensive. Satin steel with a dull finish looks refined and is less expensive. Mixing different tones and textures can be even better, Gilles said. - - “Sometimes you don’t want a very holistic, black and white type of contrast. Sometimes a tonal contrast is even more attractive,” Gilles said. “So we’re using bronzes and silvers and graphites where chrome used to be, to create that offset.” - - Stellantis has, for years, been trying out chrome alternatives on special edition models that, generally, have done even better than expected with consumers. It’s a good sign that car buyers are ready for something different. - - The upcoming Jeep Wagoneer S electric SUV will be one of the first Stellantis models to sport some of these new looks. It will have no chrome at all, even as an option. The same will be true on all Stellantis’s other new models, Gilles said. - - A spokesperson for Volkswagen Group’s design department – VW Group operates various brands including Audi and Bentley – said VW is also looking at alternatives to hexavalent chrome as its use becomes more strictly curtailed in various markets, including Europe. VW designers are working with finishes of various tones and textures to accent different models. - - “We are also using light as the new chrome,” VW said in a statement shared with CNN. “Light gives us more possibilities in both exterior and interior applications.” - - Already, many VW models sport round VW logos that glow at night. Stellantis has also used glowing badges on some of its concept vehicles. - - It helps that the use of chrome on modern cars is already much reduced from its glaring peaks. Chrome first started appearing on cars in the 1920s as a shinier and easier to maintain alternative to nickel and, before that, brass, said the Petersen Museum’s Kendall. - - After a few decades, it reached a “more is always better” apotheosis around the same time cars sprouted fins, Gilles said. - - “Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills. They couldn’t use enough chrome,” he said. “They threw as much chrome as they could at it, and we’ve been weaning ourselves from it.”",CNN,14/06/2024,"['Chrome’s century-long reign as that added bit of flash and glamour on new cars may be coming to an end.', 'For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal.', 'Chrome has long provided an eye-catching sparkle, creating an upscale look while also protecting unpainted metal car parts from corrosion.', 'It’s served as a by-word for (especially American) automotive opulence.', '“Chrome on a car is the automotive equivalent of using jewelry on an outfit,” said Leslie Kendall, head curator of the Petersen Automotive Museum in Los Angeles.', 'But Stellantis – the company that makes Dodge, Jeep, Ram, Fiat, and Maserati vehicles – among others, is committed to doing away with chrome on all its new models.', 'The plan even has a name.', 'Inside Stellantis, it’s called “Death of Chrome,” said Stellantis’s chief global designer, Ralph Gilles.', 'Stellantis vehicles, including its newest Jeep model, will sport badges and trim pieces that may not have chrome’s mirror-like shine but customers will come to like them even better, Gilles promises.', '“Death of Chrome” comes in response to chrome plating’s lesser-known dark side.', 'Hexavalent chromium, or “chromium 6,” the form of the element chromium involved in the plating process, is an aggressive cancer-causing agent, according to government regulators in the United States and Europe.', '“Hexavalent chromium is a carcinogen that is the second most potent toxic air contaminant identified by the state,” the California Air Resources Board said in a statement provided to CNN. “', 'It is 500 times more toxic than diesel exhaust and has no known safe level of exposure.”', 'This does not mean that the chrome-plated parts on your car or motorcycle are dangerous.', 'The metallic form of chrome that provides the mirror shine on a car brand’s logo or trim is perfectly safe.', 'The risk to human health comes during the electro-plating process, regulators say, when the hexavalent chromium that is used can come into contact with workers or be released into the atmosphere.', 'Chrome platers have methods to contain the vapors and minimize human exposure.', 'Southern California boasts the highest concentration of chrome plating shops in America and regulators in that state have been requiring those methods for years.', 'But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods.', 'Hexavalent chromium is used in a number of different industries besides automotive.', 'It’s also used to increase the hardness of steel, for instance, and as an anti-corrosive agent added to paints, according to the Occupational Safety and Health Administration.', 'In 2019, green slime oozing out onto a highway near Detroit was found to be hexavalent chromium leaking from a nearby business.', 'In that case, a Michigan environmental agency cleaned up the toxic mess.', 'The National Association for Surface Finishing, an industry organization representing chrome platers, among others, said their industry has made a lot of progress to keep chrome plating safe for workers and the environment but acknowledged alternatives are needed.', '“Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately99.9%reduction in hexavalent chromiumair emissions since 1995to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “', 'NASF is working in partnership with the automotive industry to ensure a transition to the safest and most sustainablealternatives and replacements.”', 'There are are less dangerous alternatives, Gilles said, but, for now, at least, they either don’t look as good as traditional chrome plate, don’t last as long, or are prohibitively expensive for mass production vehicles.', 'For instance, trivalent chrome uses a different form of chromium and a simpler process.', '“The problem is the luster isn’t as good.', 'It has a more yellow kind of finish,” Gilles said. “', 'Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it.', 'They don’t realize what they’re looking at, but they’ve come to love it.', 'We have to make them unlove it.”', 'The best way to do that, said Gilles, will be to entice car buyers with styles and designs that don’t use chrome at all, or anything like it.', 'There are the extremely popular “blackout packages” that are already available as an option on most Stellantis models.', 'These replace all the exterior “brightwork,” like chrome badges and grilles, with matte black pieces for a dark, sinister look.', '“Sometimes people go and personally convert their cars to blackout packages,” Gilles said. “', 'They call it ‘murdered out’ on the street.”', 'Years ago, Gilles even did it to his own 2016 Chrysler minivan creating a look that eventually came to market as the Chrysler Pacifica S Package with a black grille and a black-winged Chrysler logo.', 'Black’s not the only option, though.', 'The “murdered out” look doesn’t work for everyone.', '“Sometimes a vehicle can look a little bit ‘triste,’ as they say in French, sad, when it’s all black,” said Gilles.', 'Polished stainless steel looks a lot like chrome but it’s expensive.', 'Satin steel with a dull finish looks refined and is less expensive.', 'Mixing different tones and textures can be even better, Gilles said.', '“Sometimes you don’t want a very holistic, black and white type of contrast.', 'Sometimes a tonal contrast is even more attractive,” Gilles said. “', 'So we’re using bronzes and silvers and graphites where chrome used to be, to create that offset.”', 'Stellantis has, for years, been trying out chrome alternatives on special edition models that, generally, have done even better than expected with consumers.', 'It’s a good sign that car buyers are ready for something different.', 'The upcoming Jeep Wagoneer S electric SUV will be one of the first Stellantis models to sport some of these new looks.', 'It will have no chrome at all, even as an option.', 'The same will be true on all Stellantis’s other new models, Gilles said.', 'A spokesperson for Volkswagen Group’s design department – VW Group operates various brands including Audi and Bentley – said VW is also looking at alternatives to hexavalent chrome as its use becomes more strictly curtailed in various markets, including Europe.', 'VW designers are working with finishes of various tones and textures to accent different models.', '“We are also using light as the new chrome,” VW said in a statement shared with CNN. “', 'Light gives us more possibilities in both exterior and interior applications.”', 'Already, many VW models sport round VW logos that glow at night.', 'Stellantis has also used glowing badges on some of its concept vehicles.', 'It helps that the use of chrome on modern cars is already much reduced from its glaring peaks.', 'Chrome first started appearing on cars in the 1920s as a shinier and easier to maintain alternative to nickel and, before that, brass, said the Petersen Museum’s Kendall.', 'After a few decades, it reached a “more is always better” apotheosis around the same time cars sprouted fins, Gilles said.', '“Chrome peaked in the ’50s with the big American land yachts and stuff with giant chrome bumpers and giant chrome grills.', 'They couldn’t use enough chrome,” he said. “', 'They threw as much chrome as they could at it, and we’ve been weaning ourselves from it.”']",0.1321109771911105,"Whereas hexavalent is extremely good, very brilliant, very clear and that’s why people have come to love it.",But California is now moving toward an outright ban on chrome plating using hexavalent chromium while offering funding for chrome platers to transition to other methods.,0.550424709039576,"“Working collaboratively and effectively with EPA, OSHA, and state regulatory agencies, the plating industry has achieved an approximately99.9%reduction in hexavalent chromiumair emissions since 1995to protect the environment, human health, and worker safety,” said Christian Richter, vice president for policy at NASF, in an email to CNN. “","For least one major auto maker, environmental and serious health concerns are outweighing its aesthetic appeal.",2024-06-15 -Telehealth executives accused of $100m Adderall scheme,https://www.bbc.co.uk/news/articles/cd11qr67qj6o,2024-06-14T01:32:50.581Z,"US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances. US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company's clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"". America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic. Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee. Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials. They are charged with distribution of controlled substances. They could each face up to 20 years in prison if found guilty. Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task. The charges come amid a national shortage of the drug. Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement. Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"". The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify. They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes. Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"". They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails. ",BBC,14/06/2024,"['US investigators have arrested the founder and CEO of a telehealth company who is accused of a running a $100m (£78m) scheme to fraudulently distribute over 40m pills of Adderall and other controlled substances.', 'US Attorney General Merrick Garland said that Done CEO Ruthia He conspired with the company\'s clinical president, David Brody, ""to provide easy access to Adderall and other stimulants for no legitimate medical purpose"".', ""America's top law officer said the executives had exploited telemedicine rules that were loosened during the Covid pandemic."", 'Done Global, a San Francisco-based start-up, became popular during the pandemic as an online way to obtain Adderall by paying a monthly subscription fee.', 'Ms He was arrested in Los Angeles and Dr Brody in San Rafael, California, according to officials.', 'They are charged with distribution of controlled substances.', 'They could each face up to 20 years in prison if found guilty.', 'Adderall is a medication that helps manage symptoms of ADHD - which can include an inability to focus on a single task.', 'The charges come amid a national shortage of the drug.', 'Principal Deputy Assistant Attorney General Nicole Argentieri accused the pair of ""spending millions on deceptive advertisements on social media"". ""', 'These charges are the Justice Department’s first criminal drug distribution prosecutions related to telemedicine prescribing through a digital health company,"" Ms Argentieri said in a statement.', 'Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".', 'The defendants also allegedly limited information available to prescribers, and instructed them to prescribe medications to patients even when they did not medically qualify.', 'They also allegedly mandated that Done patients complete an initial screening with the prescriber for no longer than 30 minutes.', 'Officials say they continued the illegal scheme ""even after being made aware that material was posted on online social networks about how to use Done to obtain easy access to Adderall and other stimulants, and that Done members had overdosed and died"".', 'They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.']",-0.1964394593112733,"They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",They could each face up to 20 years in prison if found guilty.,0.1511241197586059,"Part of the alleged scheme included increasing the subscription fee, thus increasing the value of the company to ""unlawfully enrich themselves"".","They are also accused of defrauding government healthcare assistance programmes Medicare and Medicaid, as well as pharmacies, out of at least $14m and of conspiring to obstruct justice by deleting documents and emails.",2024-06-15 -Wells Fargo fires workers over fake keyboard activity,https://www.bbc.co.uk/news/articles/cjll01220yeo,2024-06-13T19:46:45.871Z,"US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not. It is not yet clear how the issue was discovered or whether it was specifically related to people working from home. The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"". New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years. A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour."" In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time. Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic. Such services can track keystrokes and eye movements, take screenshots and log which websites are visited. But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available. According to Amazon, where they can be found for less than $10, thousands have been sold in the last month. Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected. The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims. Many of them had worked for Wells Fargo for less than five years. Many firms, especially in the financial industry, are pushing staff to return to the office. Remote work has remained popular since the pandemic but numbers have been drifting lower. In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago. As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers. ",BBC,13/06/2024,"['US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.', 'It is not yet clear how the issue was discovered or whether it was specifically related to people working from home.', 'The US bank said staff had been fired or resigned ""after review of allegations involving simulation of keyboard activity creating impression of active work"".', 'New rules recently came into effect in the US which mean that brokers working from home must be inspected every three years.', 'A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""', 'In 2022, Wells Fargo said it had adopted a hybrid flexible working model with staff permitted to work from home some of the time.', 'Some large companies have been using increasingly sophisticated tools to monitor employees since remote work expanded during the Covid pandemic.', 'Such services can track keystrokes and eye movements, take screenshots and log which websites are visited.', 'But technology has also evolved to evade the surveillance, including so-called ""mouse jigglers"" which are aimed at making computers appear to be in active use which are widely available.', 'According to Amazon, where they can be found for less than $10, thousands have been sold in the last month.', 'Bloomberg, which first reported the move based on a filing Wells Fargo made to the US Financial Industry Regulatory Authority, said that more than a dozen people had been affected.', 'The BBC has confirmed six instances in which staff had been discharged after review, and one case in which a person resigned voluntarily after being confronted with the claims.', 'Many of them had worked for Wells Fargo for less than five years.', 'Many firms, especially in the financial industry, are pushing staff to return to the office.', 'Remote work has remained popular since the pandemic but numbers have been drifting lower.', 'In the US, just under 27% of paid days last month were work-from-home days, compared with more than 60% at the height of the pandemic in 2020, according to research by professors at the Instituto Tecnológico Autónomo de México (ITAM) Business School, Stanford and University of Chicago.', 'As of this spring, about 13% of full-time employees in the US were fully remote, and another 26% enjoyed a hybrid arrangement, according to the researchers.']",0.1071104623898091,"A spokeswoman for the firm said: ""Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.""",US banking giant Wells Fargo has sacked a number of employees following claims that staff were faking keyboard activity to fool the company into thinking they were working when they were not.,-0.9963567852973938,,Remote work has remained popular since the pandemic but numbers have been drifting lower.,2024-06-15 -Church community-owned solar farm plan approved,https://www.bbc.co.uk/news/articles/cmllrn2v2m9o,2024-06-14T05:26:46.971Z,"A community-owned solar farm is set to be built by the end of next year. The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee. Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed. The scheme will connect the solar array to a substation on Blackburn Road. It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal. Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025. Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “It will put Hyndburn in the forefront of the green revolution and renewable energy generation.” Peel ward’s councillor Clare Pritchard said: “I support this application. It is something we need more of in the borough.” Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.” Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.” Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas to northwest.newsonline@bbc.co.uk ",BBC,14/06/2024,"['A community-owned solar farm is set to be built by the end of next year.', ""The scheme is for a parcel of land at Coach Road Meadow in Coach Road, Church, and has been approved by Hyndburn Council's planning committee."", 'Councillors said concerns about the project on 2.31 hectares (6 acres) of land – owned by Prospects Community Energy Ltd – from nearby residents in Hill Street had been addressed.', 'The scheme will connect the solar array to a substation on Blackburn Road.', 'It will supply electricity to the grid with a further connection to power the William Blythe Ltd chemical plant to the north side of the Leeds and Liverpool canal.', 'Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.', 'Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “', 'It will put Hyndburn in the forefront of the green revolution and renewable energy generation.”', 'Peel ward’s councillor Clare Pritchard said: “I support this application.', 'It is something we need more of in the borough.”', 'Her Overton ward Labour colleague, Councillor Scott Brerton said: “This is a very, very positive development.”', 'Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”', 'Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram.', 'You can also send story ideas to northwest.newsonline@bbc.co.uk']",0.2997221843474639,Philip Vincent-Barwood from Prospects Community Energy Ltd said the charity hoped to complete the project in 2025.,"Hyndburn Council Conservative group leader, Councillor Zak Khan said: “There is certainly no reason to refuse this application. “",0.989383856455485,Planning officer Adam Birkett told the meeting: “The development would also result in a net gain in biodiversity meaning that the habitats for wildlife would be left in a measurably better state than they were before.”,,2024-06-15 -China’s record heat and heavy rain raise food security concerns,https://edition.cnn.com/2024/06/14/business/china-record-heat-rain-food-security-intl-hnk/index.html," - Published - 7:23 AM EDT, Fri June 14, 2024 - ","China is grappling with extreme weather as severe drought and record temperatures scorch the north while heavy rains inundate the south, raising concerns about food security in the world’s second-largest economy. - - Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons. - - The Ministry of Agriculture said Thursday that drought and heat have had an adverse impact on the planting season in some northern and central provinces, and it warned that temperatures were expected to surpass 35 Celsius (95 Fahrenheit) in the coming days. - - An emergency alert covering at least seven provinces, including the major agricultural regions of Henan and Shandong, was already in place because of dry, hot conditions. - - “The recent persistently high temperatures have accelerated the loss of water in the soil and (caused) drought in some areas, which has negatively affected the summer sowing season,” the ministry said in a statement. “The drought is likely to continue and the task of protecting the summer planting season is difficult.” - - In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday. - - Parts of the country are experiencing a major heat wave. - - The China Meteorological Administration (CMA) said on Wednesday that 28 regional weather stations broke their respective records for the highest temperature ever recorded in mid June. The city of Fenyang in the northern province of Shanxi registered its highest temperature ever recorded at 40.2 degrees Celsius (104 Fahrenheit). - - China had its hottest spring on record this year. The national average temperature between March and May reached 12.3 degrees Celsius, the highest since records began in 1961, with 12 national meteorological stations registering temperatures reaching or surpassing records, according to the National Climate Center. Last year was the country’s hottest year on record. - - Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours. - - In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas. It made a series of recommendations on reducing damage to growing “early rice” saplings, which are planted in March and harvested in June. - - The CMA said on Thursday that heavy rainfall had occurred in the Zhejiang, Fujian, Jiangxi, Hunan, Guangxi and Guizhou regions — some of them major manufacturing and industrial centers. Hunan and Jiangxi are two of China’s biggest rice producers. - - China’s State Flood Control and Drought Relief Headquarters, a national coordination agency, issued an emergency response to both the flooding in the south and the drought in the north on Thursday, warning of a high risk of flash floods and geologic hazards. - - These rains appear to be related to a seasonal monsoon pattern that can lead to intense showers over short periods.",CNN,14/06/2024,"['China is grappling with extreme weather as severe drought and record temperatures scorch the north while heavy rains inundate the south, raising concerns about food security in the world’s second-largest economy.', 'Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons.', 'The Ministry of Agriculture said Thursday that drought and heat have had an adverse impact on the planting season in some northern and central provinces, and it warned that temperatures were expected to surpass 35 Celsius (95 Fahrenheit) in the coming days.', 'An emergency alert covering at least seven provinces, including the major agricultural regions of Henan and Shandong, was already in place because of dry, hot conditions.', '“The recent persistently high temperatures have accelerated the loss of water in the soil and (caused) drought in some areas, which has negatively affected the summer sowing season,” the ministry said in a statement. “', 'The drought is likely to continue and the task of protecting the summer planting season is difficult.”', 'In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday.', 'Parts of the country are experiencing a major heat wave.', 'The China Meteorological Administration (CMA) said on Wednesday that 28 regional weather stations broke their respective records for the highest temperature ever recorded in mid June.', 'The city of Fenyang in the northern province of Shanxi registered its highest temperature ever recorded at 40.2 degrees Celsius (104 Fahrenheit).', 'China had its hottest spring on record this year.', 'The national average temperature between March and May reached 12.3 degrees Celsius, the highest since records began in 1961, with 12 national meteorological stations registering temperatures reaching or surpassing records, according tothe National Climate Center.', 'Last year was the country’s hottest year on record.', 'Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours.', 'In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas.', 'It made a series of recommendations on reducing damage to growing “early rice” saplings, which are planted in March and harvested in June.', 'The CMA said on Thursday that heavy rainfall had occurred in the Zhejiang, Fujian, Jiangxi, Hunan, Guangxi and Guizhou regions — some of them major manufacturing and industrial centers.', 'Hunan and Jiangxi are two of China’s biggest rice producers.', 'China’s State Flood Control and Drought Relief Headquarters, a national coordination agency, issued an emergency response to both the flooding in the south and the drought in the north on Thursday, warning of a high risk of flash floods and geologic hazards.', 'These rains appear to be related to a seasonal monsoon pattern that can lead to intense showers over short periods.']",-0.1170417778326626,"Meanwhile, southern parts of the country, the top rice growing region, have been grappling with weeks of downpours.","Areas of the country that produce a lot of rice and wheat have been badly affected, disrupting spring and summer planting seasons.",-0.2249909825623035,"In April, the Ministry of Agriculture said in a statement that rainfall in parts of the region had risen by 50% to 80%, and had even doubled in some areas.","In Henan, China’s top wheat producing region which accounts for a quarter of total output, rainfall in May was 70% lower than the yearly average, Yang Wentao, a provincial official, told national broadcaster CCTV on Wednesday.",2024-06-15 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-06-15 -Washington Post CEO Will Lewis’ status ‘increasingly untenable’ as newsgathering controversies mount,https://edition.cnn.com/2024/06/16/media/washington-post-will-lewis-phone-hacking/index.html," - Updated - 8:57 PM EDT, Sun June 16, 2024 - ","A report from the New York Times on Saturday alleges Will Lewis, the Washington Post’s embattled new publisher and chief executive, used fraudulent and unethical methods to obtain information for articles while working at the London-based Sunday Times in the early 2000s. - - Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were “fraudulently obtained” through hacking and paying sources for information. - - Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country. Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening. Margaret Sullivan, executive director of the Craig Newmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.” - - These latest allegations of questionable journalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor, Sally Buzbee. The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism. - - The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standards are recognized in many newsrooms, warns journalists in its Code of Ethics: “Do not pay for access to news.” - - While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance of undue intrusiveness.” - - The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing. Lewis has previously said his role in the scandal consisted of rooting out problematic behavior. - - A spokesperson for the Washington Post told CNN Lewis declined to comment. - - A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.” - - The decade-old scandal engulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in a new lawsuit filed by Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant. At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation. - - But a cascade of claims has followed Lewis in recent weeks, mostly involving alleged attempts to suppress stories about his connection with the coverup. Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed with Buzbee over publishing an article in May that named him in connection to the scandal, although a spokesperson for Lewis has denied he pressured Buzbee to quash the article, according to NPR. - - Buzbee abruptly left the company earlier this month. Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal. - - The Washington Post did not respond to CNN with regard to these allegations. - - A spokesperson for Lewis told the New York Times earlier this month when the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.” The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.” - - Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further. A number of Post staffers who spoke to CNN have described plummeting morale. “It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented. - - In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make. Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added. - - Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.” He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.",CNN,16/06/2024,"['A report from the New York Times on Saturday allegesWill Lewis, the Washington Post’s embattled new publisher and chief executive,used fraudulent and unethical methodsto obtain information for articles while working at the London-based Sunday Timesin the early 2000s.', 'Citing a former co-worker of Lewis’, a private investigator and its own investigation of newspaper archives, the New York Times said Lewis used phone and company records that were“fraudulently obtained”through hacking and paying sources for information.', 'Through the haze of accusations, it remains unclear whether these claims will prompt Lewis to step down from the helm of one of the most distinguished outlets in the country.', 'Even so, experts see Lewis’ grasp on the newsroom as one that is increasingly weakening.', 'Margaret Sullivan, executive director of the CraigNewmark Center for Journalism Ethics and Security at Columbia University’s School of Journalism, told CNN on Sunday that Lewis’ position is “increasingly untenable.”', 'These latest allegations ofquestionablejournalistic ethics could also leave an enduring impression on a newsroom already reeling from the blindsiding ouster of its executive editor,Sally Buzbee.', 'The allegations may also end up reflecting on the paper’s own reputation as a standard-bearer for American journalism.', 'The Society of Professional Journalists, which represents about 7,000 members across the country and whose journalism standardsare recognized inmany newsrooms, warns journalists in itsCode of Ethics: “Do not pay for access to news.”', 'While SPJ does not explicitly address hacking as a means of newsgathering, it does tell journalists to “avoid undercover or other surreptitious methods of gathering information unless traditional, open methods will not yield information vital to the public” but cautions that “pursuit of the news is not a license for arrogance ofundue intrusiveness.”', 'The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.', 'Lewis haspreviously saidhis role in the scandal consisted of rooting out problematic behavior.', 'A spokesperson for the Washington Post told CNN Lewis declined to comment.', 'A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”', 'Thedecade-old scandalengulfed right-wing media mogul Rupert Murdoch’s News of the World tabloid and was revived in recent years in anew lawsuit filedby Prince Harry and Hollywood figures including Guy Ritchie and Hugh Grant.', 'At the time of the News of the World controversy, Lewis was a senior executive at Murdoch’s News Corporation.', 'But a cascade of claims has followed Lewis in recent weeks, mostly involvingalleged attempts to suppress stories about his connection with the coverup.', 'Earlier this month, the New York Times first reported that Lewis, who took the reins at the Washington Post on January 2, clashed withBuzbeeover publishing an article in May that named him in connection to the scandal,although aspokesperson for Lewis has denied he pressured Buzbeeto quash the article, according to NPR.', 'Buzbee abruptly left the company earlier this month.', 'Days later, an NPR reporter said Lewis offered him an interview in exchange for quashing a forthcoming article about the scandal.', 'The Washington Post did not respond to CNN with regard to these allegations.', 'A spokesperson for Lewistold the New York Times earlier this monthwhen the story broke that “when he was a private citizen ahead of joining The Washington Post, he had off the record conversations with an employee of NPR about a story the employee then published.”', 'The spokesperson added that any request for an interview after he joined the Washington Post was “processed through the normal corporate communication channels.”', 'Buzbee’s departure has seemingly frayed Lewis’ command of his newsroom even further.', 'A number of Post staffers who spoke to CNN have described plummeting morale. “', 'It’s as bad as I’ve ever seen it, truly,” one staffer said earlier this month, noting that the Washington Post has hit “rough patches” before but that the stormy atmosphere hanging over the outlet is unprecedented.', 'In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.', 'Lewis’ insistence on tamping down reporting about him “has motivated several news organizations to look more deeply into his past; it’s possible that some new revelation will make his Post leadership position even more untenable and will force Bezos’ hand,” she added.', 'Sullivan also wrote in her op-ed that Lewis could try to repair the trust both within and outside the newsroom by acknowledging that he will not cross any ethical lines and reiterating his commitment to giving staffers “true editorial independence.”', 'He could also work toward reinstating an independent public editor or ombudsman — a position the Washington Post nixed more than a decade ago — who would oversee the paper’s implementation of journalistic ethics.']",-0.0668383835406459,"A Washington Post source with knowledge of internal meetings at the paper last week told CNN that Lewis has told employees “his role as publisher is to create the environment for great journalism and to encourage and support it, that he will never interfere in the journalism and that he is very clear about the lines that should not be crossed.”","The new accusations come as Lewis tries to fend off resurfacing allegations of his involvement in a UK phone hacking scandal coverup, in which he has repeatedly denied wrongdoing.",-0.4013231217861175,"In an opinion piece for the Guardian on Wednesday, Sullivan wrote that firing Lewis and finding a new CEO is “the cleanest, best move” Washington Post owner Jeff Bezos could make.",A number of Post staffers who spoke to CNN have described plummeting morale. “,2024-06-15 -"Elizabeth Holmes, Silicon Valley’s most famous convict, makes her long-shot appeal",https://edition.cnn.com/2024/06/11/business/elizabeth-holmes-appeal/index.html," - Updated - 2:31 PM EDT, Tue June 11, 2024 - ","Lawyers for Elizabeth Holmes, the convicted Silicon Valley grifter, presented her appeal before a California court Tuesday, revisiting a case that exposed the shortcomings of the tech world’s fake-it-till-you-make-it startup culture. - - Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos. She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings. - - Holmes is serving her sentence at a minimum-security facility in southern Texas and, as with most defendants, did not appear in court when California’s Ninth Circuit heard her appeal. Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence. - - Critical to the government’s case against Holmes was convincing jurors that the Theranos founder not only knew her company’s technology was flawed but went to great lengths to conceal it from investors. In their appeal, defense lawyers have homed in on what they see as the court’s violation of evidentiary rules regarding one of the prosecution’s key witnesses. - - Pushing back, prosecutors stated Tuesday that the lower court did not err in its handling of the case and that “if there were any trial errors, they were harmless given the overwhelming and multifaceted evidence against Holmes.” - - A decision on the appeal wasn’t expected to come down immediately. Legal experts said the three judges are likely to consider the high-profile nature of the case and could take several weeks or months to issue a ruling. - - Over the past decade, the story of Theranos — valued at $10 billion at its peak — has become a cautionary tale of tech-startup hubris and hype. - - It had all the hallmarks of a Silicon Valley juggernaut: A 19-year-old founder who dropped out of Stanford and dressed like Steve Jobs, an audacious mission to disrupt the medical establishment and lots of buzz among deep-pocketed investors such as Larry Ellison and Rupert Murdoch. - - The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins. - - The trouble is, the tech never really worked, as a Wall Street Journal investigation revealed in a series of articles in 2015. Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary. - - Federal prosecutors in 2018 charged Holmes and her former partner, Ramesh “Sunny” Balwani, with running a multimillion-dollar scheme to defraud investors, doctors and patients. A jury ultimately convicted her on four counts of defrauding investors, but not guilty on the counts that pertained to defrauding patients. - - Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued. - - “Holmes repeatedly told potential investors that major pharmaceutical companies had validated Theranos’s device, and the US military was using it in the battlefield to treat wounded soldiers,” lawyers for the government said in court filings. “In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods. And the devices were never used in war zones. - - Balwani was convicted separately and sentenced to 13 years in prison. - - Prosecutors have sought to underscore the real-world implications of Holmes’ and Balwani’s lies to investors. In a filing to the appeals court, they note that one woman received results from Theranos’ test indicated “she was going to have a miscarriage when she was carrying a healthy baby,” the filing states. “Another received results indicating that he had late-stage prostate cancer when he did not. Another was informed (incorrectly) that she had HIV.” - - Holmes’ lawyers have said in court documents that the criminal trial was “teeming with issues for appeal.” - - Specifically, they focused on the testimony of Kingshuk Das, the former lab director at Theranos, who testified during the trial that he found many problems with the Edison machines and that he believed they were “unsuitable for clinical use.” - - On Tuesday, Holmes’ lawyer said Das’ opinion about whether the technology worked was “classic expert opinion,” given by someone who was not vetted as an expert witness in the case. - - Holmes has argued that Judge Edward Davila erred in his ruling that she could not refer to the testimony of Balwani, her former boyfriend and business partner, in her own defense. Her lawyers have argued that prosecutors’ statements about Holmes’ relationship with Balwani “would have probably led to Ms. Holmes’ acquittal in a new trial.” - - During Holmes’ trial, the government characterized the pair’s relationship as one between two co-equals, her laywers said in a 2022 filing. Then, in Balwani’s trial, “the government took the opposite position and highlighted Mr. Balwani’s age, experience, and influence over Ms. Holmes.” - - Criminal appeals are always an uphill battle, and Holmes’ case is no exception. - - “The issues that Holmes’s legal team has raised…are all issues that are difficult to win on appeal — it’s difficult to win on issues when you’re Monday morning quarterbacking the decisions made by the judge,” said Agustin Orozco, a former federal prosecutor and a partner with the law firm Crowell & Moring. - - In prosecutors’ filing to the court, Orozco notes, they frequently raise a “harmless error” argument — essentially saying that even if the lower court did make mistakes, “it doesn’t matter because the evidence is so overwhelming against Holmes.”",CNN,11/06/2024,"['Lawyers for Elizabeth Holmes, the convicted Silicon Valley grifter, presented her appeal before a California court Tuesday, revisiting a case that exposed the shortcomings of the tech world’s fake-it-till-you-make-it startup culture.', 'Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos.', 'She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings.', 'Holmes is serving her sentence at a minimum-security facility in southern Texas and, as with most defendants, did not appear in court when California’s Ninth Circuit heard her appeal.', 'Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence.', 'Critical to the government’s case against Holmes was convincing jurors that the Theranos founder not only knew her company’s technology was flawed but went to great lengths to conceal it from investors.', 'In their appeal, defense lawyers have homed in on what they see as the court’s violation of evidentiary rules regarding one of the prosecution’s key witnesses.', 'Pushing back, prosecutors stated Tuesday that the lower court didnot err in its handling of the case and that“if there were any trial errors, they were harmless given the overwhelming and multifaceted evidence against Holmes.”', 'A decision on the appeal wasn’t expected to come down immediately.', 'Legal experts said the three judges are likely to consider the high-profile nature of the case and could take several weeks or months to issue a ruling.', 'Over the past decade, the story of Theranos — valued at $10 billion at its peak — has become a cautionary tale of tech-startup hubris and hype.', 'It had all the hallmarks of a Silicon Valley juggernaut: A 19-year-old founder who dropped out of Stanford and dressed like Steve Jobs, an audacious mission to disrupt the medical establishment and lots of buzz among deep-pocketed investors such as Larry Ellison and Rupert Murdoch.', 'The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins.', 'The trouble is, the tech never really worked, as a Wall Street Journal investigation revealed in a series of articles in 2015.', 'Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary.', 'Federal prosecutors in 2018 charged Holmes and her former partner, Ramesh “Sunny” Balwani, with running a multimillion-dollar scheme to defraud investors, doctors and patients.', 'A jury ultimately convicted her on four counts of defrauding investors, but not guilty on the counts that pertained to defrauding patients.', 'Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued.', '“Holmes repeatedly told potential investors that major pharmaceutical companies had validated Theranos’s device, and the US military was using it in the battlefield to treat wounded soldiers,” lawyers for the government said in court filings. “', 'In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods.', 'And the devices were never used in war zones.', 'Balwani was convicted separately and sentenced to 13 years in prison.', 'Prosecutors have sought to underscore the real-world implications of Holmes’ and Balwani’s lies to investors.', 'In a filing to the appeals court, they note that one woman received results from Theranos’ test indicated “she was going to have a miscarriage when she was carrying a healthy baby,” the filing states. “', 'Another received results indicating that he had late-stage prostate cancer when he did not.', 'Another was informed (incorrectly) that she had HIV.”', 'Holmes’ lawyers have said in court documents that the criminal trial was “teeming with issues for appeal.”', 'Specifically, they focused on the testimony of KingshukDas, the former lab director at Theranos, who testified during the trial that he found many problems with the Edison machines and that he believed they were “unsuitable for clinical use.”', 'On Tuesday, Holmes’ lawyer said Das’ opinion about whether the technology worked was “classic expert opinion,” given by someone who was not vetted as an expert witness in the case.', 'Holmes has argued that Judge Edward Davila erred in his ruling that she could not refer to the testimony of Balwani, her former boyfriend and business partner, in her own defense.', 'Her lawyers have argued that prosecutors’ statements about Holmes’ relationship with Balwani “would have probably led to Ms. Holmes’ acquittal in a new trial.”', 'During Holmes’ trial, the government characterized the pair’s relationship as one between two co-equals, her laywers said in a 2022 filing.', 'Then, in Balwani’s trial, “the government took the opposite position and highlighted Mr. Balwani’s age, experience, and influence over Ms. Holmes.”', 'Criminal appeals are always an uphill battle, and Holmes’ case is no exception.', '“The issues that Holmes’s legal team has raised…are all issues that are difficult to win on appeal — it’s difficult to win on issues when you’re Monday morning quarterbacking the decisions made by the judge,” said Agustin Orozco, a former federal prosecutor and a partner with the law firm Crowell & Moring.', 'In prosecutors’ filing to the court, Orozco notes, they frequently raise a “harmless error” argument — essentially saying that even if the lower court did make mistakes,“it doesn’t matter because the evidence is so overwhelming against Holmes.”']",-0.0853229838606861,"Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary.","Criminal appeals are always an uphill battle, and Holmes’ case is no exception.",-0.1614258289337158,"The pitch was simple: Just one drop of blood, spun through Theranos’ proprietary machine, could deliver faster, more accurate results than traditional testing that required whole vials drawn from a patient’s veins.","In truth, Theranos’s device could never complete more than 12 types of blood tests, often with less accuracy, less automation, and less consistency” than conventional methods.",2024-06-15 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-06-15 -Alstom: Derby train-maker wins £370m Elizabeth line order,https://www.bbc.co.uk/news/articles/c29986423x9o,2024-06-14T17:05:05.380Z,"Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line. The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders. The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network. Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site. In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work. Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May. Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them. A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city. Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “The UK remains one of Alstom’s most important global markets.” The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT). Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046. The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future. Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date. Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210. ",BBC,14/06/2024,"[""Train-maker Alstom has signed a contract worth £370m to build trains for London's Elizabeth line."", 'The announcement comes after the firm began a redundancy consultation at its Litchurch Lane factory in Derby due to a gap in orders.', 'The contract with Transport for London will see the firm provide 10 new nine-car Aventra trains for the network.', 'Work for the project, which includes associated maintenance until 2046, will be carried out at the Derby site.', 'In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.', 'Discussions between executives from the company and Transport Secretary Mark Harper were understood to have ended in May.', 'Alstom had previously said that 10 trains would be the minimum order needed in order for the Derby site to continue producing them.', 'A spokesperson said the announcement enabled the manufacturer to begin the process of restarting manufacturing in the city.', 'Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “', 'The UK remains one of Alstom’s most important global markets.”', 'The contract includes new trains that will be funded by £220.5m from the Department for Transport (DfT).', 'Meanwhile, Transport for London will also contract the provision of train maintenance on the units until 2046.', 'The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.', 'Following the announcement, Alstom told the BBC its voluntary redundancy consultation remained open, although no compulsory redundancies had been made to date.', 'Follow BBC Derby on Facebook, on X, or on Instagram.', 'Send your story ideas to eastmidsnews@bbc.co.uk or via WhatsApp on 0808 100 2210.']",0.0484999424552245,"The DfT said the trains were needed due to ""strong passenger demand"" expected on the Elizabeth Line, and they would allow increased capacity on the network in future.","In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",0.3100224733352661,Managing director Nick Crossfield said: “We are delighted to now have a confirmed workload for Derby Litchurch Lane and our supply chain across the UK. “,"In November, the company warned more 1,300 jobs were at risk at Litchurch Lane along with many more in the supply chain due to a shortage of work.",2024-06-15 -Alex Jones ordered to sell assets to pay Sandy Hook debt,https://www.bbc.co.uk/news/articles/cj55v57v2z2o,2024-06-14T19:27:50.334Z,"A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting. However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand. Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack. The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns. According to recent court filings, Mr Jones has around $8.6m in personal assets. The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate. According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items. Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure. The decision does not remove Free Speech Systems' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""There's no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “I think creditors are better served in pursuing their state court rights."" One of the attorneys for the families said they would move quickly to collect damages. “The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""Alex Jones is neither a martyr nor a victim. He is the perpetrator of the worst defamation in American history."" Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents. Twenty young children and six school staff were killed in the attack. At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors."" Mr Jones has since acknowledged that the Sandy Hook killings occurred. Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers. The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy. Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring. On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him. He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “I would have been off the air today if the judge hadn’t done the right thing. We live to fight another day.” During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars. But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales. ",BBC,14/06/2024,"[""A judge ordered the liquidation of Infowars host Alex Jones' personal assets, clearing the way for potential payouts to families of the victims of the 2012 Sandy Hook mass shooting."", 'However, US Bankruptcy Judge Christopher Lopez ruled against a liquidation of Mr Jones’ company Free Speech Systems, which owns the Infowars brand.', 'Relatives of the victims have won a total of $1.5bn (£1.2bn) in defamation judgements against Mr Jones and his company over his false statements about the attack.', ""The liquidation will force the sale of Mr Jones's assets - including a multimillion-dollar ranch, other properties, cars, boats and guns."", 'According to recent court filings, Mr Jones has around $8.6m in personal assets.', 'The ruling on Friday in Houston, Texas, means that for now, Free Speech Systems and Infowars will continue to operate.', 'According to court filings, Free Speech Systems employs 44 people and made nearly $3.2m in revenue in one recent month, mostly from selling dietary supplements and other items.', 'Families of the victims were divided on whether the corporate bankruptcy should be thrown out or also changed to a liquidation procedure.', 'The decision does not remove Free Speech Systems\' liability, and the plaintiffs in the defamation cases will be able to pursue the damages they are owed in state courts or through further bankruptcy hearings. ""', 'There\'s no easy or right answer here,"" Judge Lopez said, at times sounding deeply emotional as he delivered his decision. “', 'I think creditors are better served in pursuing their state court rights.""', 'One of the attorneys for the families said they would move quickly to collect damages. “', 'The court authorized us to move immediately to collect against all Infowars assets, and we intend to do exactly that,” Christopher Mattei said in a statement Friday. ""', 'Alex Jones is neither a martyr nor a victim.', 'He is the perpetrator of the worst defamation in American history.""', 'Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.', 'Twenty young children and six school staff were killed in the attack.', 'At one point Mr Jones called the attack “a giant hoax” and in 2015 he said: ""Sandy Hook is a synthetic, completely fake with actors, in my view, manufactured… I knew they had actors there clearly, but I thought they killed some real kids, and it just shows how bold they are, that they clearly used actors.""', 'Mr Jones has since acknowledged that the Sandy Hook killings occurred.', 'Following the broadcasts, victims of the families were harassed online and in person by Infowars viewers.', 'The families filed defamation lawsuits in Connecticut and Texas, and their legal victories resulted in Mr Jones and Free Speech Systems declaring bankruptcy.', 'Friday’s hearing was over whether those bankruptcy cases would be converted from Chapter 11 to Chapter 7, a portion of US bankruptcy law that allows straightforward liquidation rather than more complicated financial restructuring.', 'On recent broadcasts and on his social media accounts, Mr Jones has continued to rail against the US justice system and claim that there is a government plot to silence him.', 'He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “', 'We just dodged a bullet, praise Jesus,” Mr Jones said while broadcasting on Infowars after the hearing. “', 'I would have been off the air today if the judge hadn’t done the right thing.', 'We live to fight another day.”', 'During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.', 'But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.']",-0.0736248575336421,"He has repeatedly warned that he is about to be taken off the airwaves, although US free speech laws mean he would be free to set up a new company and continue broadcasting even if his company were to be liquidated. “","Following the December 2012 attack on Sandy Hook Elementary School in Newtown, Connecticut, Mr Jones and guests on his broadcasts repeatedly called into question whether the massacre actually occurred, floating conspiracy theories about whether the murders were faked or carried out by government agents.",0.3448423743247986,"But Mr Jones’ lawyers countered by arguing that in recent weeks, the company had seen record sales.","During the hearing, lawyers for the families claimed that the conspiracy theorist was attempting to reduce the value of his company – for instance by urging listeners to buy products from a company owned by his father rather than directly from Infowars.",2024-06-15 -"Barclays suspends sponsorship of Download, Latitude and Isle Of Wight festivals",https://www.bbc.co.uk/news/articles/crgg13nn0kgo,2024-06-14T15:37:14.843Z,"Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight. The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel. Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer. A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals."" The bank signed a five-year sponsorship deal with Live Nation in 2023. It is understood that the suspension does not apply to the full term of the contract. Mercury-nominated band Lankum, who are on the line-up for Suffolk's Latitude festival in July, were among the first to respond to the announcement. ""We welcome the news,"" they said on Instagram. ""Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""Standing together is the best foot forward."" The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays. Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza. A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid. The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe."" They added that the protests had led to intimidation of staff and vandalism of their branches. ""The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""It is time that leaders across politics, business, academia and the arts stand united against this."" A number of bands pulled out of this weekend's Download festival at Donington Park in Leicestershire. ""We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram. The bands Speed, Scowl, Zulu and Ithaca also joined the boycott. The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate. This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent."" Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"". Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent. British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"". Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee."" Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza. However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"". That includes companies ""that supply defence products to Nato and other allies including Ukraine"". It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments. Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard."" ",BBC,14/06/2024,"['Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight.', ""The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel."", 'Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer.', 'A spokesperson for Live Nation said: ""Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals.""', 'The bank signed a five-year sponsorship deal with Live Nation in 2023.', 'It is understood that the suspension does not apply to the full term of the contract.', 'Mercury-nominated band Lankum, who are on the line-up for Suffolk\'s Latitude festival in July, were among the first to respond to the announcement. ""', 'We welcome the news,"" they said on Instagram. ""', 'Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point. ""', 'Standing together is the best foot forward.""', ""The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays."", 'Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza.', 'A spokesperson for Barclays told the BBC: ""Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024. ""', 'Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid.', 'The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe.""', 'They added that the protests had led to intimidation of staff and vandalism of their branches. ""', 'The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. ""', 'It is time that leaders across politics, business, academia and the arts stand united against this.""', 'A number of bands pulled out of this weekend\'s Download festival at Donington Park in Leicestershire. ""', 'We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain,"" thrash metal band Pest Control posted on Instagram.', 'The bands Speed, Scowl, Zulu and Ithaca also joined the boycott.', 'The latter said: ""Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate.', 'This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent.""', 'Irish singer CMAT also pulled out of Latitude, saying she would ""not allow my precious work, my music, which I love so much, to get into bed with violence"".', ""Taskmaster star Joanne McNally cancelled her headline set in the festival's comedy tent."", 'British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".', 'Fellow comedian Grace Campbell, the daughter of Sir Tony Blair\'s former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can\'t in good conscience take the fee.""', 'Barclays has previously said it recognises ""the profound human suffering"" caused by the ""complex and long-running conflict"" in Gaza.', 'However, it insisted it does not make its own investments, but provides financial services to businesses ""including those in the defence sector"".', 'That includes companies ""that supply defence products to Nato and other allies including Ukraine"".', 'It added that ""Barclays does not directly invest in these companies"" and that ""decisions on the implementation of arms embargoes to other nations"" should be taken by governments.', 'Protest group Bands Boycott Barclays called the bank\'s decision to suspend its ties with the festivals a ""victory"". ""', 'As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military,"" they said. ""', 'Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard.""']",0.156580498070319,"Fellow comedian Grace Campbell, the daughter of Sir Tony Blair's former spokesperson Alastair Campbell, also pulled out of the festival, as did Alexandra Haddow, who wrote on Instagram: ""I can't in good conscience take the fee.""","British comedian and writer Sophie Duker also confirmed she would be boycotting the event, saying on social media she was ""committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence"".",-0.4070264975229899,"Protest group Bands Boycott Barclays called the bank's decision to suspend its ties with the festivals a ""victory"". ""","The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions,"" they added. """,2024-06-15 -Betting the House: The world of political wagers,https://www.bbc.co.uk/news/articles/c6pp5emm95do,2024-06-15T00:29:04.133Z,"An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting. Gambling on sporting events is now very big business in the UK. Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's. But betting has long been part of the political world too. From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative. One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""I got the Lib Dems to win at 20-to-1, and I got it right,"" he said. Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there's nothing like predicting winner and losers. ""People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying 'I think it's going this way, or that'"". Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson. But some remarkable amounts of money have been wagered over the years. In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election. They lost their money. Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"". Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election. But these figures do not include bets with the larger betting firms. This makes it a miniscule slice of the £15.1bn UK gambling market. But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""It has been helped by the fact we’ve had particularly volatile events - the 'yes' and 'no' Brexit referendum was perfect for betting. ""People like to bet on very tight events."" Over the years, the types of political bets have diversified. Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi. Betting on politics has a surprisingly long history in the UK. Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer. During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting. But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in. But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful. Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence. The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it. Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet. Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation. It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK. Westminster's gamblers will be watching the results of this one with particular interest. Advice on gambling addiction is available via the BBC Action Line. ",BBC,15/06/2024,"['An investigation into Rishi Sunak\'s parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.', 'Gambling on sporting events is now very big business in the UK.', ""Millions will be wagered this summer on the Euros and the Paris Olympics, most of it online rather than the traditional way of entering a bookmaker's."", 'But betting has long been part of the political world too.', 'From the outside, betting on an obscure by-election or a party leadership contest may seem strange - but for some political obsessives it combines the unpredictability and excitement of sport with the intrigue of a dramatic narrative.', 'One of the proudest moments in the life of political betting guru Mike Smithson was correctly predicting the result of the 2021 Chesham and Amersham by-election. ""', 'I got the Lib Dems to win at 20-to-1, and I got it right,"" he said.', 'Mr Smithson, who runs the politicalbetting.com website after years as a BBC political journalist, said: ""I love politics and there\'s nothing like predicting winner and losers. ""', 'People love to look at things and think they know the answer - when you go for a drink in the pub people always end up saying \'I think it\'s going this way, or that\'"".', 'Political betting is often used by betting companies as a gateway to entice new punters to more lucrative - for the firms - betting platforms. ""', 'Most bookies get into political betting because they like signing up new customers who will then be attracted in other areas,"" said Mr Smithson.', 'But some remarkable amounts of money have been wagered over the years.', ""In 2017, an anonymous student placed a series of wagers amounting to £10,000 on Jeremy Corbyn's Labour winning the general election."", 'They lost their money.', 'Mike Smithson estimates ""between £10m and £20m will be bet on the election this year"".', 'Online betting exchange Betfair suggests more than £8m has been staked on the outcome of the general election.', 'But these figures do not include bets with the larger betting firms.', 'This makes it a miniscule slice of the £15.1bn UK gambling market.', 'But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""', 'It has been helped by the fact we’ve had particularly volatile events - the \'yes\' and \'no\' Brexit referendum was perfect for betting. ""', 'People like to bet on very tight events.""', 'Over the years, the types of political bets have diversified.', 'Traditional bets on election outcomes remain popular, but novelty bets, such as predicting specific political events or decisions, are gaining traction. ""', 'Elections by themselves are perfect betting events – there are lots of options across the 650 constituencies, betting on each one or overall victory,"" says Mr Kedjanyi.', 'Betting on politics has a surprisingly long history in the UK.', 'Charles James Fox, the 18th-century Whig prime minister, was known to bet ""frequently, largely, and judiciously, on the social and political occurrences of the time"" according to his biographer.', 'During the Victorian and Edwardian periods, gambling laws became stricter, impacting political betting.', ""But in 1963 Ladbrokes began openly accepting bets on political events and by the following year's general election, William Hill had joined in."", 'But people who work at Westminster - like those who work at horse racing stables or football clubs - need to be careful.', 'Using confidential information to gain an advantage could amount to cheating under the Gambling Act - which is a criminal offence.', 'The Gambling Commission is making inquires into Craig Williams, a Conservative Party election candidate and former aide to Rishi Sunak, amid claims he placed a £100 bet on the date of the election days before the PM announced it.', 'Mr Williams has apologised and said he made a ""huge error of judgement"" but has not confirmed the details of his bet.', 'Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.', 'It is understood the watchdog wrote to all licensed bookmakers this week requesting information on anyone who stood to gain more than £199 by betting on a July election in the UK.', ""Westminster's gamblers will be watching the results of this one with particular interest."", 'Advice on gambling addiction is available via the BBC Action Line.']",0.2101162009157575,But some remarkable amounts of money have been wagered over the years.,"Mr Sunak has described his actions as ""very disappointing"" and the opposition parties are calling for him to be suspended as a candidate or face a Cabinet Office investigation.",0.3334703395764033,"But according to William Kedjanyi, head of political content at Star Sports, political betting has been ""growing steadily over the last ten years"". ""","An investigation into Rishi Sunak's parliamentary aide Craig Williams placing a £100 ""flutter"" on the general election has thrown a spotlight on the world of political betting.",2024-06-15 -JLR invests £1m to help police stop car thefts,https://www.bbc.co.uk/news/articles/cpee844x4yvo,2024-06-13T23:04:16.471Z,"Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK. The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering. Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft. However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover. Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry. Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000. He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement. Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “We’re just really disappointed. We loved the car but because of the insurance the experience of owning it went downhill so quick.” Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account. Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit. That, in turn, can push up premiums. For Jaguar Land Rover, this has become a problem. The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty. That kind of prestige comes at a cost. The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000. But embarrassingly for the company, it also has a reputation for being vulnerable to theft. Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”. He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security. He accused the insurance industry of failing to take account of all the available information when setting premiums. The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs. Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes. The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”. It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad. The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers. At the same time, it says it has been working hard to make its vehicles less vulnerable to theft. It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen. ",BBC,13/06/2024,"['Jaguar Land Rover says it plans to invest more than £1m to help the police fight vehicle crime in the UK.', 'The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.', 'Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.', 'However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.', 'Among them is Meryl Cabellos, a 41-year-old Frenchman who has lived in the UK for seven years, and works in the technology industry.', 'Last year, the cost of insuring his 2017 Range Rover Sport doubled, from £2,000 to £4,000.', 'He then discovered that his insurer would not be able to renew his cover at all this year – and struggled to find a replacement.', 'Faced with a best quote of £10,000, and with the car itself losing value rapidly, he decided to cut his losses and sell it. “', 'We’ve been Range Rover customers for many years, and it really feels as though we’re being priced out now,” he said. “', 'We’re just really disappointed.', 'We loved the car but because of the insurance the experience of owning it went downhill so quick.”', 'Insurance costs can vary considerably, with factors such as the driver’s record and experience, as well as where the car is kept and the security features it contains all taken into account.', 'Expensive, luxury cars are often targeted by thieves, because they can be sold abroad at a big profit.', 'That, in turn, can push up premiums.', 'For Jaguar Land Rover, this has become a problem.', 'The company builds a range of premium models, with the Range Rover brand a particular favourite for celebrities, politicians and even royalty.', 'That kind of prestige comes at a cost.', 'The Range Rover starts at £104,000 while its smaller sibling, the Range Rover Sport, is on sale from £75,000.', 'But embarrassingly for the company, it also has a reputation for being vulnerable to theft.', 'Earlier this year, JLR’s chief executive Adrian Mardell condemned reports that suggested the Range Rover was Britain’s “most stolen vehicle”.', 'He admitted that vehicle theft by organised criminals was a serious issue in the UK, but insisted his own business had been unfairly singled out, and that strenuous efforts had been made to improve vehicle security.', 'He accused the insurance industry of failing to take account of all the available information when setting premiums.', 'The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.', 'Last year, for example, the company set up its own insurance products in an effort to help customers who were unable to obtain cover, though some Range Rover owners claim they have still been unable to obtain quotes.', 'The new money, JLR says, will be used to support several police forces “with additional dedicated resources to respond to vehicle thefts across the country”.', 'It will also help pay for a new national policing unit to gather intelligence on vehicle thefts, and increased police activity at the ports used by criminal gangs to ship cars abroad.', 'The company says it is already sharing information with the police to help them find and recover vehicles, and has provided training to some 650 officers.', 'At the same time, it says it has been working hard to make its vehicles less vulnerable to theft.', 'It cites data from the Police National Computer showing that since January 2022 only 0.2% of new Range Rovers and Range Rover Sports have been stolen.']",-0.023968439722839,"The money will be used to support police operations in theft hotspots, as well as to fund intelligence gathering.","Earlier this year, the company’s boss angrily denied reports that Range Rovers were particularly vulnerable to theft.",-0.1384519829469568,The police funding is the latest in a series of moves designed to reassure consumers and attempt to bring down insurance costs.,"However, owners have complained that insurers have been hiking their premiums dramatically, or even refusing cover.",2024-06-15 -Airports criticise sudden re-introduction of 100ml liquids limits,https://www.bbc.co.uk/news/articles/c9885p925rno,2024-06-12T14:18:15.876Z,"Airports have criticised the government’s sudden re-introduction of 100ml limits on liquids in hand luggage last weekend. The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached. After installing high-tech new scanning equipment, some regional airports had scrapped liquid restrictions. Major hubs had not yet switched to the new rules, but are rolling out the machines. The transport secretary has insisted the re-imposition of the old limits is ""temporary’"" but it’s unclear how long the situation will last. The government requires all UK airports to upgrade to ""next generation"" security. New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security. The likes of Heathrow, Gatwick and Manchester were allowed to miss the latest deadline for installing them – 1 June this year - after various logistical challenges. However London City, Teesside, Newcastle, Leeds-Bradford, Aberdeen and Southend had complied on time and dropped the old liquids rules – some as early as Spring last year. Birmingham completed its installation but was told to keep the 100ml limit while waiting for regulatory approval. But on Friday, an unexpected announcement from the Department for Transport (DfT) said that from Sunday, liquids, gels and pastes could once again only be taken through airport security in containers of 100ml or less. At the time, the DfT said it was not in response to a specific threat, but ""to enable further improvements to be made to the new checkpoint systems"". The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved. The sudden change caused consternation among airport bosses, who were only informed on the Friday. Karen Dee, chief executive of trade body the Airport Operators Association, said hundreds of millions of pounds were being spent on a ""huge"" programme of change, as instructed by the government. She said airports supported decisions on security, but Friday’s ""surprise"" announcement ""was sprung on us with very little time to react"", and this ""created uncertainty for passengers just as airports enter their busiest periods of the year"". ""It has also put airport operators in a challenging position, with very limited time to prepare for the additional staffing and wider resources that this will require, and no clear idea of when this issue will be resolved."" Airports who had fully switched the new systems and have trained and rostered their staff accordingly, are most affected, unable to use the expensive, new equipment to its full potential. The change is understood to have led to more items being rejected or confiscated as passengers have turned up expecting to be allowed to take larger containers through. Some larger airports who were only part way through their roll-outs had been using the new scanners in some areas so have also had to quickly alter ways of working. Thirty airport bosses, along with the AOA, have jointly written to the transport secretary, aviation minister and civil servants today in response to Friday’s announcement. Among the questions they want answering are how the decision was taken, what it means for airports who are part-way through their roll-out - with implications for staff training programmes - and how long the reversion to the 100ml limit will last. Ms Dee said airports were doing all they could to mitigate the impact. She asked passengers to come prepared to comply with the liquid limit until advised otherwise. A DfT spokesperson said Friday’s announcement only affected people travelling from six regional airports where Next Generation Security Checkpoints (NGSC) were already in full operation, which it said was around 6% of all UK air passengers. They added security measures would remain unchanged from those in place since 2006 for most passengers, and travellers should continue to check security requirements with their departure airport. The department said it had communicated with airports swiftly upon receiving new information. ",BBC,12/06/2024,"['Airports have criticised the government’s sudden re-introduction of 100ml limits on liquids in hand luggage last weekend.', 'The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.', 'After installing high-tech new scanning equipment, some regional airports had scrapped liquid restrictions.', 'Major hubs had not yet switched to the new rules, but are rolling out the machines.', 'The transport secretary has insisted the re-imposition of the old limits is ""temporary’"" but it’s unclear how long the situation will last.', 'The government requires all UK airports to upgrade to ""next generation"" security.', 'New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security.', 'The likes of Heathrow, Gatwick and Manchester were allowed to miss the latest deadline for installing them – 1 June this year - after various logistical challenges.', 'However London City, Teesside, Newcastle, Leeds-Bradford, Aberdeen and Southend had complied on time and dropped the old liquids rules – some as early as Spring last year.', 'Birmingham completed its installation but was told to keep the 100ml limit while waiting for regulatory approval.', 'But on Friday, an unexpected announcement from the Department for Transport (DfT) said that from Sunday, liquids, gels and pastes could once again only be taken through airport security in containers of 100ml or less.', 'At the time, the DfT said it was not in response to a specific threat, but ""to enable further improvements to be made to the new checkpoint systems"".', 'The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved.', 'The sudden change caused consternation among airport bosses, who were only informed on the Friday.', 'Karen Dee, chief executive of trade body the Airport Operators Association, said hundreds of millions of pounds were being spent on a ""huge"" programme of change, as instructed by the government.', 'She said airports supported decisions on security, but Friday’s ""surprise"" announcement ""was sprung on us with very little time to react"", and this ""created uncertainty for passengers just as airports enter their busiest periods of the year"". ""', 'It has also put airport operators in a challenging position, with very limited time to prepare for the additional staffing and wider resources that this will require, and no clear idea of when this issue will be resolved.""', 'Airports who had fully switched the new systems and have trained and rostered their staff accordingly, are most affected, unable to use the expensive, new equipment to its full potential.', 'The change is understood to have led to more items being rejected or confiscated as passengers have turned up expecting to be allowed to take larger containers through.', 'Some larger airports who were only part way through their roll-outs had been using the new scanners in some areas so have also had to quickly alter ways of working.', 'Thirty airport bosses, along with the AOA, have jointly written to the transport secretary, aviation minister and civil servants today in response to Friday’s announcement.', 'Among the questions they want answering are how the decision was taken, what it means for airports who are part-way through their roll-out - with implications for staff training programmes - and how long the reversion to the 100ml limit will last.', 'Ms Dee said airports were doing all they could to mitigate the impact.', 'She asked passengers to come prepared to comply with the liquid limit until advised otherwise.', 'A DfT spokesperson said Friday’s announcement only affected people travelling from six regional airports where Next Generation Security Checkpoints (NGSC) were already in full operation, which it said was around 6% of all UK air passengers.', 'They added security measures would remain unchanged from those in place since 2006 for most passengers, and travellers should continue to check security requirements with their departure airport.', 'The department said it had communicated with airports swiftly upon receiving new information.']",0.1283890635126139,New scanners which produce 3D images should mean liquids up to two litres and laptops can be kept in hand luggage to go through security.,"The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.",-0.5570434861712985,"The BBC understands the government department felt it had to move quickly after receiving some new information about the scanners, is working with international partners, and will lift the restrictions once the issue has been resolved.","The Airport Operators Association (AOA) said it had left airports ""frustrated"" and created uncertainty and confusion for passengers as the busiest time of year approached.",2024-06-15