title,url,timestamp,content,source,clean_date,clean_content,arti_score,pos_sent,neg_sent The top 10 richest cities in America,https://www.cnbc.com/2024/03/21/the-top-10-richest-cities-in-america.html,2024-03-21T18:56:30+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.New York still leads the U.S. and the world when it comes to wealthy cities.With nearly 350,000 millionaires and 60 billionaires, the Big Apple is the richest city in America, according to the USA Wealth Report from Henley & Partners and New World Wealth. Despite all the headlines about the rich leaving the city, its millionaire population has grown 48% over the past decade.The San Francisco Bay Area ranks as the second richest city in America, despite topping New York for billionaires, with more than 305,000 millionaires and 68 billionaires. The Bay Area's growth rate over the past 10 years has been even more impressive, with its millionaire population soaring 82%. The surge in investment and growth in artificial intelligence is expected to add another boost to the area.The fastest-growing U.S. city for the ultra wealthy among the top 10 is Austin, Texas, which has more than doubled its millionaire population over the past decade to nearly 33,000. Miami is up there too, with 87% growth in millionaires over the past decade — but with one-tenth the New York City total.The numbers show that the twin wealth hubs in the U.S. endure, despite wealth migration to the Sun Belt — which is roughly defined as the southern third of the U.S. known for its sunny weather and lower tax states.""Despite the recent rise of major wealth hubs in Texas and Florida, the Bay Area and New York City are expected to remain America's wealthiest cities for many more decades to come,"" said Andrew Amoils, head of research at New World Wealth.Here are the top 10:Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,21/03/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'New York still leads the U.S. and the world when it comes to wealthy cities.', 'With nearly 350,000 millionaires and 60 billionaires, the Big Apple is the richest city in America, according to the USA Wealth Report from Henley & Partners and New World Wealth.', 'Despite all the headlines about the rich leaving the city, its millionaire population has grown 48% over the past decade.', 'The San Francisco Bay Area ranks as the second richest city in America, despite topping New York for billionaires, with more than 305,000 millionaires and 68 billionaires.', ""The Bay Area's growth rate over the past 10 years has been even more impressive, with its millionaire population soaring 82%."", 'The surge in investment and growth in artificial intelligence is expected to add another boost to the area.', 'The fastest-growing U.S. city for the ultra wealthy among the top 10 is Austin, Texas, which has more than doubled its millionaire population over the past decade to nearly 33,000.', 'Miami is up there too, with 87% growth in millionaires over the past decade — but with one-tenth the New York City total.', 'The numbers show that the twin wealth hubs in the U.S. endure, despite wealth migration to the Sun Belt — which is roughly defined as the southern third of the U.S. known for its sunny weather and lower tax states.', '""Despite the recent rise of major wealth hubs in Texas and Florida, the Bay Area and New York City are expected to remain America\'s wealthiest cities for many more decades to come,"" said Andrew Amoils, head of research at New World Wealth.', ""Here are the top 10:Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.""]",0.561624820229274,"""Despite the recent rise of major wealth hubs in Texas and Florida, the Bay Area and New York City are expected to remain America's wealthiest cities for many more decades to come,"" said Andrew Amoils, head of research at New World Wealth.", Nordstrom shares jump 9% on report retailer is trying to go private,https://www.cnbc.com/2024/03/19/nordstrom-reportedly-trying-to-go-private.html,2024-03-19T20:25:55+0000,"In this articleNordstrom shares closed 9% higher on Tuesday following a report that the department store chain is attempting to go private.The retailer's founding family is working with Morgan Stanley and investment bank Centerview Partners to determine if private equity firms have interest in a deal, Reuters reported, citing people familiar with the matter. Morgan Stanley declined to comment.A deal might not happen, according to Reuters. A previous effort to take Nordstrom private fizzled out in 2018.Nordstrom has struggled to drive sales in a competitive retail landscape where consumers squeezed by inflation have been watching their spending on apparel and other discretionary goods. Earlier this month, the company gave a gloomy sales outlook for 2024.Nordstrom said it expects full-year revenue to range from a 2% decline to a 1% increase from 2023.Before Tuesday's move, the company's shares had fallen about 7% this year.Nordstrom did not immediately respond to CNBC's request for comment.",CNBC,19/03/2024,"['In this articleNordstrom shares closed 9% higher on Tuesday following a report that the department store chain is attempting to go private.', ""The retailer's founding family is working with Morgan Stanley and investment bank Centerview Partners to determine if private equity firms have interest in a deal, Reuters reported, citing people familiar with the matter."", 'Morgan Stanley declined to comment.', 'A deal might not happen, according to Reuters.', 'A previous effort to take Nordstrom private fizzled out in 2018.Nordstrom has struggled to drive sales in a competitive retail landscape where consumers squeezed by inflation have been watching their spending on apparel and other discretionary goods.', ""Earlier this month, the company gave a gloomy sales outlook for 2024.Nordstrom said it expects full-year revenue to range from a 2% decline to a 1% increase from 2023.Before Tuesday's move, the company's shares had fallen about 7% this year."", ""Nordstrom did not immediately respond to CNBC's request for comment.""]",0.09964161695694883,"The retailer's founding family is working with Morgan Stanley and investment bank Centerview Partners to determine if private equity firms have interest in a deal, Reuters reported, citing people familiar with the matter.",A previous effort to take Nordstrom private fizzled out in 2018.Nordstrom has struggled to drive sales in a competitive retail landscape where consumers squeezed by inflation have been watching their spending on apparel and other discretionary goods. 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.']",0.20223228276818256,"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?" ESPN’s model is eroding. Past and present execs are split on how it can protect its dominance,https://www.cnbc.com/2024/03/21/espn-executives-talk-streaming-plans-in-cnbc-documentary.html,2024-03-21T19:22:22+0000,"In this articleDisney's ESPN is at a crossroads.For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees. ESPN first charged pay-TV distributors less than $1 per month per subscriber in the 1980s. In 2023, ESPN's monthly carriage fee was $9.42 per subscriber, according to data from S&P Global Market Intelligence.That business model is eroding. Since 2013, tens of millions of Americans have canceled their cable TV subscriptions, raising questions about ESPN's future in an increasingly fragmented media landscape. CNBC spoke with multiple current and former Disney and ESPN executives about the network's path ahead as part of the digital documentary ""ESPN's Fight for Dominance.""ESPN reported domestic and international revenue grew just 1% to $4.4 billion in its most recent fiscal quarter. The network can no longer rely on price increases to make up the difference as the number of cable customers declines.The company has a new two-part streaming plan to reinvigorate growth. First, this fall, Disney will make ESPN available outside the traditional cable TV bundle for the first time as part of a joint venture with Warner Bros. Discovery and Fox. The service, which does not yet have a price, will target noncable customers who want to watch sports but don't want to pay $80 or $100 a month for a full bundle of networks.Second, in fall 2025 ESPN will launch its flagship streaming service that will include everything ESPN has to offer, both live and on demand. It will include unprecedented personalization and will interact with ESPN Bet, the company's licensed online sportsbook, and fantasy sports to cater to younger fans. The product will go well beyond ESPN+, which exists as a $10.99 streaming service that doesn't include ESPN's most expensive programming, such as all of ""Monday Night Football.""""The industry is in a transition phase right now,"" ESPN Chairman Jimmy Pitaro said in an interview as part of CNBC's documentary.""We're seeing declines in the traditional ecosystem, cable and satellite universe,"" Pitaro said. ""There's a transition to digital. That is by far the biggest component of our future.""Pitaro and head of programming Roz Durant defended ESPN's growth plan to CNBC, while former Disney and ESPN executives Bob Chapek, John Skipper and Mark Shapiro noted the so-called Worldwide Leader in Sports faces multiple potential obstacles while it charts its path forward.Watch the documentary for the full story.",CNBC,21/03/2024,"[""In this articleDisney's ESPN is at a crossroads."", ""For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees."", 'ESPN first charged pay-TV distributors less than $1 per month per subscriber in the 1980s.', ""In 2023, ESPN's monthly carriage fee was $9.42 per subscriber, according to data from S&P Global Market Intelligence."", 'That business model is eroding.', ""Since 2013, tens of millions of Americans have canceled their cable TV subscriptions, raising questions about ESPN's future in an increasingly fragmented media landscape."", 'CNBC spoke with multiple current and former Disney and ESPN executives about the network\'s path ahead as part of the digital documentary ""ESPN\'s Fight for Dominance.', '""ESPN reported domestic and international revenue grew just 1% to $4.4 billion in its most recent fiscal quarter.', 'The network can no longer rely on price increases to make up the difference as the number of cable customers declines.', 'The company has a new two-part streaming plan to reinvigorate growth.', 'First, this fall, Disney will make ESPN available outside the traditional cable TV bundle for the first time as part of a joint venture with Warner Bros. Discovery and Fox.', ""The service, which does not yet have a price, will target noncable customers who want to watch sports but don't want to pay $80 or $100 a month for a full bundle of networks."", 'Second, in fall 2025 ESPN will launch its flagship streaming service that will include everything ESPN has to offer, both live and on demand.', ""It will include unprecedented personalization and will interact with ESPN Bet, the company's licensed online sportsbook, and fantasy sports to cater to younger fans."", 'The product will go well beyond ESPN+, which exists as a $10.99 streaming service that doesn\'t include ESPN\'s most expensive programming, such as all of ""Monday Night Football.', '""""The industry is in a transition phase right now,"" ESPN Chairman Jimmy Pitaro said in an interview as part of CNBC\'s documentary.', '""We\'re seeing declines in the traditional ecosystem, cable and satellite universe,"" Pitaro said. ""', ""There's a transition to digital."", 'That is by far the biggest component of our future.', '""Pitaro and head of programming Roz Durant defended ESPN\'s growth plan to CNBC, while former Disney and ESPN executives Bob Chapek, John Skipper and Mark Shapiro noted the so-called Worldwide Leader in Sports faces multiple potential obstacles while it charts its path forward.', 'Watch the documentary for the full story.']",0.03376307501743596,The company has a new two-part streaming plan to reinvigorate growth.,ESPN first charged pay-TV distributors less than $1 per month per subscriber in the 1980s. "Audi reveals new all-electric Q6 e-tron SUV, its first next-generation EV",https://www.cnbc.com/2024/03/18/audi-reveals-all-electric-q6-e-tron-suv.html,2024-03-20T02:38:32+0000,"In this articleAudi on Monday revealed its new all-electric Q6 e-tron SUV, the first production vehicle on its next-generation electric vehicle architecture.The Volkswagen-owned luxury carmaker says the new ""Premium Platform Electric"" opens up new levels of technology for Audi, including a rapid EV recharge time of 158 miles in 10 minutes.The vehicle ushers in the next generation of EVs for Audi, which continues to offer more all-electric and plug-in hybrid EVs despite growth slowing recently for EVs.Audi confirmed it plans to introduce about 20 new or significantly redesigned models and derivatives globally through 2025, more than half of which will be electric.Ordering for the Q6 e-tron quattro as well as an ""S"" performance variant will open this month in Europe, starting at 74,400 euros or about $81,000, and 93,800 euros, or $102,030, respectively. The Q6 e-tron has an estimated range on a single charge of 625 kilometers, or 388 miles, based on European testing standards.Top performance specifications for the U.S. include up to 510 horsepower, max speed of 143 miles per hour and 0 mph to 60 mph in 4.2 seconds.Audi said the U.S. model is expected to achieve more than 300 miles on a single charge.Exact pricing, range and model details for the U.S. are expected closer to when the midsize SUV goes on sale domestically later this year, according to an Audi spokesman.Audi currently offers all-electric Q4 and Q8 SUVs as well as a $106,500 GT sedan in the U.S. market.The Q6 e-tron features a new but familiar Audi design including sleek headlamps, mesh-style grille and an overall aggressive exterior design.The new EV platform includes an 800-volt battery architecture and a maximum charging capacity of 270 kilowatt hours.",CNBC,20/03/2024,"['In this articleAudi on Monday revealed its new all-electric Q6 e-tron SUV, the first production vehicle on its next-generation electric vehicle architecture.', 'The Volkswagen-owned luxury carmaker says the new ""Premium Platform Electric"" opens up new levels of technology for Audi, including a rapid EV recharge time of 158 miles in 10 minutes.', 'The vehicle ushers in the next generation of EVs for Audi, which continues to offer more all-electric and plug-in hybrid EVs despite growth slowing recently for EVs.', 'Audi confirmed it plans to introduce about 20 new or significantly redesigned models and derivatives globally through 2025, more than half of which will be electric.', 'Ordering for the Q6 e-tron quattro as well as an ""S"" performance variant will open this month in Europe, starting at 74,400 euros or about $81,000, and 93,800 euros, or $102,030, respectively.', 'The Q6 e-tron has an estimated range on a single charge of 625 kilometers, or 388 miles, based on European testing standards.', 'Top performance specifications for the U.S. include up to 510 horsepower, max speed of 143 miles per hour and 0 mph to 60 mph in 4.2 seconds.', 'Audi said the U.S. model is expected to achieve more than 300 miles on a single charge.', 'Exact pricing, range and model details for the U.S. are expected closer to when the midsize SUV goes on sale domestically later this year, according to an Audi spokesman.', 'Audi currently offers all-electric Q4 and Q8 SUVs as well as a $106,500 GT sedan in the U.S. market.', 'The Q6 e-tron features a new but familiar Audi design including sleek headlamps, mesh-style grille and an overall aggressive exterior design.', 'The new EV platform includes an 800-volt battery architecture and a maximum charging capacity of 270 kilowatt hours.']",0.1121470533490551,"Top performance specifications for the U.S. include up to 510 horsepower, max speed of 143 miles per hour and 0 mph to 60 mph in 4.2 seconds.","The vehicle ushers in the next generation of EVs for Audi, which continues to offer more all-electric and plug-in hybrid EVs despite growth slowing recently for EVs." Advisory firm ISS tells Disney shareholders to side with Nelson Peltz in proxy fight,https://www.cnbc.com/2024/03/21/proxy-advisory-firm-iss-backs-nelson-peltz-in-disney-proxy-fight.html,2024-03-21T16:28:18+0000,"In this articleProxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders elect activist investor Nelson Peltz to the board in his bitter fight against CEO Bob Iger.Peltz and his firm, Trian Fund Management, have asked investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3. Among other things, Peltz wants to overhaul Disney's traditional TV channels, which he claims have been a shrinking business and a drain on shareholder value.""Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board is properly engaged this time around,"" the ISS report said.While siding with Peltz, ISS told shareholders not to back Rasulo in the fight, citing his previous positioning as a potential successor to Iger.""Though we do not have any concerns about his ability to serve as an objective director, we recognize that Rasulo's potential presence might create added friction on the board,"" ISS said.ISS slammed Disney's board for repeatedly failing to find a new CEO to take over for Iger, who left his role as CEO in 2020 only to return to the position years later.Trian heralded ISS' backing as a significant victory, pointing to the advisors' support for Peltz as an experienced director at other companies. The investment firm also highlighted that ISS recommended shareholders withhold their support for former JPMorgan Chase executive Maria Elena Lagomasino, a current Disney director whom Trian has targeted for replacement.In response, Disney said that the recommendation from ISS ""fails to acknowledge the diverse set of skills and experience on Disney's Board,"" and stressed that the proxy firm is endorsing 11 of its 12 nominees.ISS also said shareholders should withhold their votes from a separate slate of nominees, from activist Blackwells. The recommendation comes as Disney has lined up a number of high-profile endorsements, from the heirs of Walt and Roy Disney to JPMorgan Chase CEO Jamie Dimon and top Disney shareholder and filmmaker George Lucas.Another proxy advisory firm, Glass Lewis, earlier this week endorsed Disney's slate of board nominees. ISS was largely expected to follow suit.Securing the support of ISS and Glass Lewis is crucial in activist fights. Large institutional shareholders will often — but not always — vote based on the recommendation of either of the two proxy advisory firms. Activists and management each make their case to the advisory firms, which in turn issue their opinions based on meetings with either side and their own analysis.— CNBC's Rohan Goswami contributed to this report.",CNBC,21/03/2024,"['In this articleProxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders elect activist investor Nelson Peltz to the board in his bitter fight against CEO Bob Iger.', 'Peltz and his firm, Trian Fund Management, have asked investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3.', ""Among other things, Peltz wants to overhaul Disney's traditional TV channels, which he claims have been a shrinking business and a drain on shareholder value."", '""Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board is properly engaged this time around,"" the ISS report said.', 'While siding with Peltz, ISS told shareholders not to back Rasulo in the fight, citing his previous positioning as a potential successor to Iger.', '""Though we do not have any concerns about his ability to serve as an objective director, we recognize that Rasulo\'s potential presence might create added friction on the board,"" ISS said.', ""ISS slammed Disney's board for repeatedly failing to find a new CEO to take over for Iger, who left his role as CEO in 2020 only to return to the position years later."", ""Trian heralded ISS' backing as a significant victory, pointing to the advisors' support for Peltz as an experienced director at other companies."", 'The investment firm also highlighted that ISS recommended shareholders withhold their support for former JPMorgan Chase executive Maria Elena Lagomasino, a current Disney director whom Trian has targeted for replacement.', 'In response, Disney said that the recommendation from ISS ""fails to acknowledge the diverse set of skills and experience on Disney\'s Board,"" and stressed that the proxy firm is endorsing 11 of its 12 nominees.', 'ISS also said shareholders should withhold their votes from a separate slate of nominees, from activist Blackwells.', 'The recommendation comes as Disney has lined up a number of high-profile endorsements, from the heirs of Walt and Roy Disney toJPMorgan ChaseCEOJamie Dimon and top Disney shareholder and filmmaker George Lucas.', ""Another proxy advisory firm, Glass Lewis, earlier this week endorsed Disney's slate of board nominees."", 'ISS was largely expected to follow suit.', 'Securing the support of ISS and Glass Lewis is crucial in activist fights.', 'Large institutional shareholders will often — but not always — vote based on the recommendation of either of the two proxy advisory firms.', 'Activists and management each make their case to the advisory firms, which in turn issue their opinions based on meetings with either side and their own analysis.—', ""CNBC's Rohan Goswami contributed to this report.""]",0.09426468150430783,"""Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board is properly engaged this time around,"" the ISS report said.","In response, Disney said that the recommendation from ISS ""fails to acknowledge the diverse set of skills and experience on Disney's Board,"" and stressed that the proxy firm is endorsing 11 of its 12 nominees." "Nike shares slide on lackluster outlook, slowing China sales",https://www.cnbc.com/2024/03/21/nike-nke-earnings-q3-2024.html,2024-03-21T22:40:25+0000,"In this articleNike's China sales continued to slow during its holiday quarter, but the retailer beat estimates on the top and bottom line, helped by better than expected growth in North America and price changes.Here's how the company performed in its fiscal 2024 third quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:The company's reported net income for the three-month period that ended Feb. 29 was $1.17 billion, or 77 cents per share, compared with $1.24 billion, or 79 cents per share, a year earlier. Excluding 21 cents per share related to restructuring charges, earnings per share would have been 98 cents, the company said.Sales rose to $12.43 billion, up slightly from $12.39 billion a year earlier.In North America, where demand has been unsteady, sales rose about 3% to $5.07 billion, compared with estimates of $4.75 billion, according to StreetAccount.Meanwhile, sales in the rest of Nike's regions came in below estimates. In China, sales reached $2.08 billion, just below the $2.09 billion analysts had expected. Revenues in the region climbed 5%, but growth there has decelerated as demand normalizes after Covid-19 lockdowns.In Europe, the Middle East and Africa, revenue fell 3% to $3.14 billion, worse than the $3.17 billion that analysts had expected, according to StreetAccount. In China, sales grew 5% to $2.08 billion, just below the $2.09 billion analysts had expected. Sales in Asia Pacific and Latin America rose 3% to $1.65 billion, below the $1.69 billion analysts had expected, according to StreetAccount.Nike shares rose about 5% after its report came out, but later dropped by as much as 7% after it released its guidance for the current quarter and fiscal 2025.Excluding restructuring charges, the company reiterated its sales outlook for fiscal 2024, and said it expects revenue to grow by 1%, in line with expectations of up 1.1%, according to LSEG. For the current quarter, it expects revenue to be up slightly, compared to estimates of up 2%, according to LSEG.Nike anticipates gross margins will grow 1.6 to 1.8 percentage points, helped by ""strategic price increases, lower ocean freight rates, lower product input costs and improved supply chain efficiency,"" finance chief Matthew Friend told analysts.The improvements are offset by higher markdowns and reduced benefits from Nike's channel mix, along with foreign exchange headwinds, Friend said. Those shifts in mix are related to changes in how often consumers are shopping online versus in stores or with Nike's wholesale partners. For the full year, it expects gross margins to grow about 1.2 percentage points, below the 1.4 to 1.6 percentage point uptick that analysts had expected, according to StreetAccount. For fiscal 2025, Nike expects revenue and earnings to grow versus the prior year, but it didn't say by how much. Analysts had expected revenue guidance of up 5.6%, according to LSEG. Friend said Nike is ""prudently planning"" for revenue in the first half of fiscal 2025 to be down low single digits, reflecting ""a subdued macro outlook around the world."" As consumers pull back on spending on discretionary items like clothes and shoes, Nike has spent the past few months focused on what it can control: cutting costs and becoming more efficient so it can drive profits and protect its margins. In December, it announced a broad restructuring plan to reduce costs by about $2 billion over the next three years. It also cut its sales guidance as it warned of softer demand in the quarters ahead. Two months later, it said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand.The early innings of Nike's cost cuts, which involve simplifying its assortment, reducing management layers and increasing automation, likely helped the retailer beat earnings expectations in the three months ended Nov. 30, even as it missed sales estimates for the second quarter in a row. The cuts, along with ""strategic pricing actions and lower ocean freight rates,"" also contributed to a 1.7 percentage point gain in gross margin — the first time the company saw its gross margin increase compared to the prior year in at least six quarters. Nike's gross margin recovery continued during the quarter. The retailer's gross margin grew by 1.5 percentage points to 44.8%, driven by ""strategic pricing actions and lower ocean freight and logistics costs."" The gains were partially offset by higher product input costs and restructuring charges, company said.Nike is still considered a market leader in the sneaker and apparel space, but the category has become more crowded and the retailer has had to work harder to compete. Some analysts say its assortment has lost focus and say the company has fallen behind on innovation, giving up market share to newer entrants like Hoka and On Running, as well as legacy brands like Brooks Running and New Balance. Last month, Nike launched the Book 1, its latest basketball shoes with NBA star Devin Booker. But the release wasn't well received because it ""looked more like a casual sneaker instead of [a] basketball shoe,"" according to a research note from Jane Hali & Associates. The firm is now neutral on Nike long term, compared to its previous rating of positive, because it's unclear where the brand is headed, said senior analyst Jessica Ramirez.She's noticed that Nike has removed a lot of products from its offering, which indicates it's preparing to bring in new styles. But it's still unclear exactly what those changes will look like.""They've already said [those changes are] going to take some time,"" Ramirez told CNBC prior to Nike's earnings release. ""Its a little concerning to know they don't have a solid plan that we know of yet.""Read the full earnings release here.",CNBC,21/03/2024,"[""In this articleNike's China sales continued to slow during its holiday quarter, but the retailer beat estimates on the top and bottom line, helped by better than expected growth in North America and price changes."", ""Here's how the company performed in its fiscal 2024 third quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:The company's reported net income for the three-month period that ended Feb. 29 was $1.17 billion, or 77 cents per share, compared with $1.24 billion, or 79 cents per share, a year earlier."", 'Excluding 21 cents per share related to restructuring charges, earnings per share would have been 98 cents, the company said.', 'Sales rose to $12.43 billion, up slightly from $12.39 billion a year earlier.', 'In North America, where demand has been unsteady, sales rose about 3% to $5.07 billion, compared with estimates of $4.75 billion, according to StreetAccount.', ""Meanwhile, sales in the rest of Nike's regions came in below estimates."", 'In China, sales reached $2.08 billion, just below the $2.09 billion analysts had expected.', 'Revenues in the region climbed 5%, but growth there has decelerated as demand normalizes after Covid-19 lockdowns.', 'In Europe, the Middle East and Africa, revenue fell 3% to $3.14 billion, worse than the $3.17 billion that analysts had expected, according to StreetAccount.', 'In China, sales grew 5% to $2.08 billion, just below the $2.09 billion analysts had expected.', 'Sales in Asia Pacific and Latin America rose 3% to $1.65 billion, below the $1.69 billion analysts had expected, according to StreetAccount.', 'Nike shares rose about 5% after its report came out, but later dropped by as much as 7% after it released its guidance for the current quarter and fiscal 2025.Excluding restructuring charges, the company reiterated its sales outlook for fiscal 2024, and said it expects revenue to grow by 1%, in line with expectations of up 1.1%, according to LSEG.', 'For the current quarter, it expects revenue to be up slightly, compared to estimates of up 2%, according to LSEG.Nike anticipates gross margins will grow 1.6 to 1.8 percentage points, helped by ""strategic price increases, lower ocean freight rates, lower product input costs and improved supply chain efficiency,"" finance chief Matthew Friend told analysts.', ""The improvements are offset by higher markdowns and reduced benefits from Nike's channel mix, along with foreign exchange headwinds, Friend said."", ""Those shifts in mix are related to changes in how often consumers are shopping online versus in stores or with Nike's wholesale partners."", 'For the full year, it expects gross margins to grow about 1.2 percentage points, below the 1.4 to 1.6 percentage point uptick that analysts had expected, according to StreetAccount.', ""For fiscal 2025, Nike expects revenue and earnings to grow versus the prior year, but it didn't say by how much."", 'Analysts had expected revenue guidance of up 5.6%, according to LSEG.Friend said Nike is ""prudently planning"" for revenue in the first half of fiscal 2025 to be down low single digits, reflecting ""a subdued macro outlook around the world.', '""As consumers pull back on spending on discretionary items like clothes and shoes, Nike has spent the past few months focused on what it can control: cutting costs and becoming more efficient so it can drive profits and protect its margins.', 'In December, it announced a broad restructuring plan to reduce costs by about $2 billion over the next three years.', 'It also cut its sales guidance as it warned of softer demand in the quarters ahead.', ""Two months later, it said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand."", ""The early innings of Nike's cost cuts, which involve simplifying its assortment, reducing management layers and increasing automation, likely helped the retailer beat earnings expectations in the three months ended Nov. 30, even as it missed sales estimates for the second quarter in a row."", 'The cuts, along with ""strategic pricing actions and lower ocean freight rates,"" also contributed to a 1.7 percentage point gain in gross margin — the first time the company saw its gross margin increase compared to the prior year in at least six quarters.', ""Nike's gross margin recovery continued during the quarter."", 'The retailer\'s gross margin grew by 1.5 percentage points to 44.8%, driven by ""strategic pricing actions and lower ocean freight and logistics costs.""', 'The gains were partially offset by higher product input costs and restructuring charges, company said.', 'Nike is still considered a market leader in the sneaker and apparel space, but the category has become more crowded and the retailer has had to work harder to compete.', 'Some analysts say its assortment has lost focus and say the company has fallen behind on innovation, giving up market share to newer entrants like Hoka and On Running, as well as legacy brands like Brooks Running and New Balance.', 'Last month, Nike launched the Book 1, its latest basketball shoes with NBA star Devin Booker.', 'But the release wasn\'t well received because it ""looked more like a casual sneaker instead of [a] basketball shoe,"" according to a research note from Jane Hali & Associates.', ""The firm is now neutral on Nike long term, compared to its previous rating of positive, because it's unclear where the brand is headed, said senior analyst Jessica Ramirez."", ""She's noticed that Nike has removed a lot of products from its offering, which indicates it's preparing to bring in new styles."", ""But it's still unclear exactly what those changes will look like."", '""They\'ve already said [those changes are] going to take some time,"" Ramirez told CNBC prior to Nike\'s earnings release. ""', ""Its a little concerning to know they don't have a solid plan that we know of yet."", '""Read the full earnings release here.']",0.07484955545656403,"""As consumers pull back on spending on discretionary items like clothes and shoes, Nike has spent the past few months focused on what it can control: cutting costs and becoming more efficient so it can drive profits and protect its margins.","The retailer's gross margin grew by 1.5 percentage points to 44.8%, driven by ""strategic pricing actions and lower ocean freight and logistics costs.""" 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?']",0.0034737194649936336,"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.”" Dragon Ball: First theme park to be built in Saudi Arabia,https://www.bbc.co.uk/news/business-68653311,2024-03-25T03:25:33.000Z,"Saudi Arabia has announced it will build a theme park based on the famed Japanese animated series Dragon Ball, sparking mixed reactions from fans. It will feature a 70m (229.6ft) dragon at its centre and at least 30 rides, the firm behind the project says. The park would be the world's first such attraction based on the popular media franchise. The announcement was met with some criticism from fans, citing Saudi Arabia's human rights record. The park will cover more than half a million square metres, according to Qiddiya Investment Company (QIC) which is wholly owned by the Saudi Arabian government's investment fund. The plans are part of ""a long-term strategic partnership"" between the QIC and Toei Animation, the Japanese producer of Dragon Ball. According to the official Dragon Ball website, the park will include a roller coaster inside the dragon modelled after Shenron, a wish-giving dragon that features in the franchise. Qiddiya is a major entertainment and tourism project being built near Saudi Arabia's capital Riyadh. It is part of the energy-rich nation's plans to diversify its economy away from fossil fuels. While some Dragon Ball fans have welcomed the plans for the theme park, others on social media have questioned the decision to locate the attraction in Saudi Arabia. The country has been criticised for its human rights record, treatment of women and lack of recognition of LGBTQ+ rights. The announcement comes just weeks after the death of Dragon Ball's creator, Akira Toriyama. Toriyama died on 1 March, aged 68. Only his family and very few friends attended his funeral, according to a statement on the Dragon Ball website. Fans around the world paid tribute to Toriyama for creating characters that have become a part of their lives. The Dragon Ball comic series debuted in 1984. It follows a boy named Son Goku in his quest to collect magical dragon balls that can give him super powers. It is one of the most influential and best-selling Japanese comics of all time. ",BBC,25/03/2024,"['Saudi Arabia has announced it will build a theme park based on the famed Japanese animated series Dragon Ball, sparking mixed reactions from fans.', 'It will feature a 70m (229.6ft) dragon at its centre and at least 30 rides, the firm behind the project says.', ""The park would be the world's first such attraction based on the popular media franchise."", ""The announcement was met with some criticism from fans, citing Saudi Arabia's human rights record."", ""The park will cover more than half a million square metres, according to Qiddiya Investment Company (QIC) which is wholly owned by the Saudi Arabian government's investment fund."", 'The plans are part of ""a long-term strategic partnership"" between the QIC and Toei Animation, the Japanese producer of Dragon Ball.', 'According to the official Dragon Ball website, the park will include a roller coaster inside the dragon modelled after Shenron, a wish-giving dragon that features in the franchise.', ""Qiddiya is a major entertainment and tourism project being built near Saudi Arabia's capital Riyadh."", ""It is part of the energy-rich nation's plans to diversify its economy away from fossil fuels."", 'While some Dragon Ball fans have welcomed the plans for the theme park, others on social media have questioned the decision to locate the attraction in Saudi Arabia.', 'The country has been criticised for its human rights record, treatment of women and lack of recognition of LGBTQ+ rights.', ""The announcement comes just weeks after the death of Dragon Ball's creator, Akira Toriyama."", 'Toriyama died on 1 March, aged 68.', 'Only his family and very few friends attended his funeral, according to a statement on the Dragon Ball website.', 'Fans around the world paid tribute to Toriyama for creating characters that have become a part of their lives.', 'The Dragon Ball comic series debuted in 1984.', 'It follows a boy named Son Goku in his quest to collect magical dragon balls that can give him super powers.', 'It is one of the most influential and best-selling Japanese comics of all time.']",0.15685451837134246,It is one of the most influential and best-selling Japanese comics of all time.,"The country has been criticised for its human rights record, treatment of women and lack of recognition of LGBTQ+ rights." Shoppers snap up summer clothes as food sales fall,https://www.bbc.co.uk/news/business-68634774,2024-03-22T07:24:06.000Z,"Shop sales saw zero growth in February as wet weather and cost-of-living pressures kept people at home. While clothing sales increased, this was offset by falling food and fuel sales, according to official figures. February's flat sales came after a lacklustre December followed by a strong bounce back in January. Although food price rises eased in February, people remained under pressure as a result of housing costs and fuel prices. Economists had predicted that sales volumes would fall slightly in February. However, clothing sales increased as did sales in department stores because shoppers splashed out on the new season's collections. This boost helped to offset a drop in food sales as shoppers stayed away due to poor weather. On the flipside, the weather benefitted online retailers, in particular those selling clothing. February was the fourth wettest on record in England, and it was the warmest weather on record for England and Wales, Met Office figures show. In southern England, it was the wettest February on record. Climate change means the UK weather is on average getting wetter in the winter and drier in the summer, according to the Met Office, and heavy rainfall could get more frequent and longer if greenhouse gas emissions continue to rise. Andrew Opie, director of food and sustainability at industry group the British Retail Consortium, said that retailers are increasingly having to manage the effects of climate change, which has created more variability in the weather. ""Without action, there is a real risk of food insecurity due to falling global farm yields and increased threats to global supply chains,"" he said. Along with the weather, the economic climate also contributed to a drop in footfall in food shops. Sales in household goods stores also fell, according to the Office for National Statistics. Households have been squeezed by a cost-of-living crisis, and economic growth has been sluggish, with the UK in a shallow recession at the end of last year. However, the pace of general price rises has been slowing, and Prime Minister Rishi Sunak has said the UK economy will ""bounce back"" in 2024. Economic research firm Pantheon Macroeconomics predicted that retail sales would ""drag the economy out of recession"" in the first three months of the year. February's flat retail sales contrasted with December's drop of 3.2%, and then a strong bounce back in January. The ONS has now revised January's sales figures up from a 3.4% to a 3.6% rise. Danni Hewson, head of financial analysis at AJ Bell, said it was not a surprise that February's downpours ""kept people off High Streets and tucked up in their dry living rooms"". ""After a few tricky months clothing retailers needed a win and those that have toiled to create must-have pieces at a price point that works for their buyer will be feeling a kind of fuzzy relief."" ",BBC,22/03/2024,"['Shop sales saw zero growth in February as wet weather and cost-of-living pressures kept people at home.', 'While clothing sales increased, this was offset by falling food and fuel sales, according to official figures.', ""February's flat sales came after a lacklustre December followed by a strong bounce back in January."", 'Although food price rises eased in February, people remained under pressure as a result of housing costs and fuel prices.', 'Economists had predicted that sales volumes would fall slightly in February.', ""However, clothing sales increased as did sales in department stores because shoppers splashed out on the new season's collections."", 'This boost helped to offset a drop in food sales as shoppers stayed away due to poor weather.', 'On the flipside, the weather benefitted online retailers, in particular those selling clothing.', 'February was the fourth wettest on record in England, and it was the warmest weather on record for England and Wales, Met Office figures show.', 'In southern England, it was the wettest February on record.', 'Climate change means the UK weather is on average getting wetter in the winter and drier in the summer, according to the Met Office, and heavy rainfall could get more frequent and longer if greenhouse gas emissions continue to rise.', 'Andrew Opie, director of food and sustainability at industry group the British Retail Consortium, said that retailers are increasingly having to manage the effects of climate change, which has created more variability in the weather. ""', 'Without action, there is a real risk of food insecurity due to falling global farm yields and increased threats to global supply chains,"" he said.', 'Along with the weather, the economic climate also contributed to a drop in footfall in food shops.', 'Sales in household goods stores also fell, according to the Office for National Statistics.', 'Households have been squeezed by a cost-of-living crisis, and economic growth has been sluggish, with the UK in a shallow recession at the end of last year.', 'However, the pace of general price rises has been slowing, and Prime Minister Rishi Sunak has said the UK economy will ""bounce back"" in 2024.', 'Economic research firm Pantheon Macroeconomics predicted that retail sales would ""drag the economy out of recession"" in the first three months of the year.', ""February's flat retail sales contrasted with December's drop of 3.2%, and then a strong bounce back in January."", ""The ONS has now revised January's sales figures up from a 3.4% to a 3.6% rise."", 'Danni Hewson, head of financial analysis at AJ Bell, said it was not a surprise that February\'s downpours ""kept people off High Streets and tucked up in their dry living rooms"". ""', 'After a few tricky months clothing retailers needed a win and those that have toiled to create must-have pieces at a price point that works for their buyer will be feeling a kind of fuzzy relief.""']",0.013974390914157076,"After a few tricky months clothing retailers needed a win and those that have toiled to create must-have pieces at a price point that works for their buyer will be feeling a kind of fuzzy relief.""","Households have been squeezed by a cost-of-living crisis, and economic growth has been sluggish, with the UK in a shallow recession at the end of last year." "Darden posts first same-store sales decline since pandemic, offset by Ruth's Chris acquisition",https://www.cnbc.com/2024/03/21/darden-restaurants-dri-q3-2024-earnings.html,2024-03-21T13:43:12+0000,"In this articleDarden Restaurants on Thursday reported mixed quarterly results as the Olive Garden owner's same-store sales shrank for the first time since the Covid pandemic.Sales slowed down in January due to bad weather, and underperformed expectations in February. CFO Raj Vennam said on the company's conference call that February's weak sales exposed ""some underlying consumer weakness.""Shares of the company fell more than 4% in morning trading.Here's what the company reported for the quarter ended Feb. 25 compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:Darden reported fiscal third-quarter net income of $312.9 million, or $2.60 per share, up from $286.6 million, or $2.34 per share, a year earlier.Excluding items, the restaurant company earned $2.62 per share.Net sales rose 6.8% to $2.97 billion, fueled by Darden's acquisition of Ruth's Chris Steak House and 53 other new restaurant locations.But Darden's overall same-store sales fell 1% in the quarter as almost all of its restaurant segments reported same-store sales declines. Only LongHorn Steakhouse saw same-store sales growth. A year earlier, Darden reported same-store sales growth of 11.7%.Lower-income consumers pulled back their restaurant spending, according to executives. In particular, transactions from households making less than $50,000 fell at every one of Darden's brands. Sales from households making less than $75,000 also declined. Older customers are also being more careful about how much they spend while dining, Vennam said.But there were some bright spots. Darden gained more customers from households with incomes of at least $150,000. Executives also said the company's same-store sales and traffic outpaced that of the broader industry.Despite the slowdown, Darden isn't planning on changing its strategy by leaning into discounts like many of its peers. The company instead has been raising its menu prices slightly below the pace of inflation.Olive Garden, usually the crown jewel of Darden's portfolio, reported its same-store sales fell 1.8%. Analysts were expecting the chain's same-store sales to rise 1.3%, according to StreetAccount estimates.LongHorn Steakhouse's same-store sales rose 2.3%, but still fell short of StreetAccount estimates of 3.1%.Darden's fine dining business, which includes The Capital Grille, saw its same-store sales decline 2.3%. That division now includes Ruth's Chris, but those same-store results won't be included in the category total for several more quarters.Remaining chains, like Cheddar's Scratch Kitchen, collectively saw same-store sales fall 2.6%.Darden also updated its outlook for fiscal 2024. The company now expects adjusted earnings per share of $8.80 to $8.90, narrowing its earnings forecast from a prior range of $8.75 to $8.90. Darden also lowered its revenue projection from $11.5 billion to $11.4 billion and changed its same-store sales outlook from a range of 2.5% to 3% growth to a range of 1.5% to 2%.",CNBC,21/03/2024,"[""In this articleDarden Restaurants on Thursday reported mixed quarterly results as the Olive Garden owner's same-store sales shrank for the first time since the Covid pandemic."", 'Sales slowed down in January due to bad weather, and underperformed expectations in February.', 'CFO Raj Vennam said on the company\'s conference call that February\'s weak sales exposed ""some underlying consumer weakness.', '""Shares of the company fell more than 4% in morning trading.', ""Here's what the company reported for the quarter ended Feb. 25 compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:Darden reported fiscal third-quarter net income of $312.9 million, or $2.60 per share, up from $286.6 million, or $2.34 per share, a year earlier."", 'Excluding items, the restaurant company earned $2.62 per share.', ""Net salesrose 6.8% to $2.97 billion, fueled by Darden's acquisition of Ruth's Chris Steak House and 53 other new restaurant locations."", ""But Darden's overall same-store sales fell 1% in the quarter as almost all of its restaurant segments reported same-store sales declines."", 'Only LongHorn Steakhouse saw same-store sales growth.', 'A year earlier, Darden reported same-store sales growth of 11.7%.Lower-income consumers pulled back their restaurant spending, according to executives.', ""In particular, transactions from households making less than $50,000 fell at every one of Darden's brands."", 'Sales from households making less than $75,000 also declined.', 'Older customers are also being more careful about how much they spend while dining, Vennam said.', 'But there were some bright spots.', 'Darden gained more customers from households with incomes of at least $150,000.', ""Executives also said the company's same-store sales and traffic outpaced that of the broader industry."", ""Despite the slowdown, Darden isn't planning on changing its strategy by leaning into discounts like many of its peers."", 'The company instead has been raising its menu prices slightly below the pace of inflation.', ""Olive Garden, usually the crown jewel of Darden's portfolio, reported its same-store sales fell 1.8%."", ""Analysts were expecting the chain's same-store sales to rise 1.3%, according to StreetAccount estimates."", ""LongHorn Steakhouse's same-store sales rose 2.3%, but still fell short of StreetAccount estimates of 3.1%.Darden's fine dining business, which includes The Capital Grille, saw its same-store sales decline 2.3%."", ""That division now includes Ruth's Chris, but those same-store results won't be included in the category total for several more quarters."", ""Remaining chains, like Cheddar's Scratch Kitchen, collectively saw same-store sales fall 2.6%.Darden also updated its outlook for fiscal 2024."", 'The company now expects adjusted earnings per share of $8.80 to $8.90, narrowing its earnings forecast from a prior range of $8.75 to $8.90.', 'Darden also lowered its revenue projection from $11.5 billion to $11.4 billion and changed its same-store sales outlook from a range of 2.5% to 3% growth to a range of 1.5% to 2%.']",0.15077345742475398,But there were some bright spots.,"CFO Raj Vennam said on the company's conference call that February's weak sales exposed ""some underlying consumer weakness." UAW says VW workers at Tennessee plant file for union election,https://www.cnbc.com/2024/03/18/uaw-says-vw-workers-at-tennessee-plant-file-for-union-election.html,2024-03-18T18:40:38+0000,"In this articleDETROIT — Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday.The filing comes after a ""supermajority of Volkswagen workers have signed union cards in just 100 days,"" the union said, marking a major milestone in the labor group's organizing drives of nonunionized auto plants in the U.S.The UAW has previously failed to organize foreign-based automakers in the U.S. Most recently, plants with Volkswagen and Nissan fell short of the support needed to unionize. In 2019, VW workers at the Chattanooga, Tennessee, plant rejected union representation in an 833-776 vote. The Chattanooga plant is VW's only U.S. assembly plant and employs more than 4,000 autoworkers who would be eligible to vote for union representation.VW confirmed receiving a notice that the UAW has filed a petition with the NLRB to hold an election. The company said it respects its workers' right to a democratic process and to organize.""We will fully support an NLRB vote so every team member has a chance to vote in privacy in this important decision. The election timeline will be determined by the NLRB. Volkswagen is proud of our working environment in Chattanooga that provides some of the best paying jobs in the area,"" the company said in an emailed statement.VW production workers at the plant earn between $23.40 per hour and $32.40 per hour, with a four-year grow-in period to top wages, according to the company.VW's hourly wages are lower than those the UAW negotiated last year with the Detroit automakers, which this year range between about $25 an hour and $36 an hour for production workers, including estimated cost-of-living adjustments, or COLA. By the end of the UAW contracts, top wages are expected to surpass $42 an hour for production workers.VW is one of 13 nonunion automakers in the U.S. that the UAW set its sights on late last year after securing record contracts with the Detroit automakers.The drive covers nearly 150,000 autoworkers across BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen and Volvo.",CNBC,18/03/2024,"['In this articleDETROIT — Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday.', 'The filing comes after a ""supermajority of Volkswagen workers have signed union cards in just 100 days,"" the union said, marking a major milestone in the labor group\'s organizing drives of nonunionized auto plants in the U.S.The UAW has previously failed to organize foreign-based automakers in the U.S. Most recently, plants withVolkswagenandNissan fell short of the support needed to unionize.', 'In 2019, VW workers at the Chattanooga, Tennessee, plant rejected union representation in an 833-776 vote.', ""The Chattanooga plant is VW's only U.S. assembly plant and employs more than 4,000 autoworkerswho would be eligible to vote for union representation."", 'VW confirmed receiving a notice that the UAW has filed a petition with the NLRB to hold an election.', ""The company said it respects its workers' right to a democratic process and to organize."", '""We will fully support an NLRB vote so every team member has a chance to vote in privacy in this important decision.', 'The election timeline will be determined by the NLRB.', 'Volkswagen is proud of our working environment in Chattanooga that provides some of the best paying jobs in the area,"" the company said in an emailed statement.', 'VW production workers at the plant earn between $23.40 per hour and $32.40 per hour, with a four-year grow-in period to top wages, according to the company.', ""VW's hourly wages are lower than those the UAW negotiated last year with the Detroit automakers, which this year range between about $25 an hour and $36 an hour for production workers, including estimated cost-of-living adjustments, or COLA."", 'By the end of the UAW contracts, top wages are expected to surpass $42 an hour for production workers.', 'VW is one of 13 nonunion automakers in the U.S. that the UAW set its sights on late last year after securing record contracts with the Detroit automakers.', 'The drive covers nearly 150,000 autoworkers across BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen and Volvo.']",0.1814823225523221,"Volkswagen is proud of our working environment in Chattanooga that provides some of the best paying jobs in the area,"" the company said in an emailed statement.","In 2019, VW workers at the Chattanooga, Tennessee, plant rejected union representation in an 833-776 vote." Boeing CEO to step down in broad management shake-up as 737 Max crisis weighs on aerospace giant,https://www.cnbc.com/2024/03/25/boeing-ceo-board-chair-commercial-head-out-737-max-crisis.html,2024-03-25T20:45:18+0000,"In this articleBoeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shake-up for the embattled aerospace giant.Larry Kellner, chairman of the board, will not stand for reelection at Boeing's annual meeting in May, Boeing said Monday. He will be succeeded as chair by Steve Mollenkopf, who has been a Boeing director since 2020 and is a former CEO of Qualcomm. Mollenkopf will lead the board in picking a new CEO, Boeing said.And Stan Deal, president and chief executive of Boeing's commercial airplanes unit, is leaving the company effective immediately. Moving into his job is Stephanie Pope, who recently became Boeing's chief operating officer after previously running Boeing Global Services.The departures come as airlines and regulators have been increasing calls for major changes at the company after a host of quality and manufacturing flaws on Boeing planes. Scrutiny intensified after a Jan. 5 accident, when a door plug blew out of a nearly new Boeing 737 Max 9 minutes into an Alaska Airlines flight.""As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing,"" Calhoun wrote to employees on Monday. ""We must continue to respond to this accident with humility and complete transparency. We also must inculcate a total commitment to safety and quality at every level of our company.""The eyes of the world are on us, and I know we will come through this moment a better company, building on all the learnings we accumulated as we worked together to rebuild Boeing over the last number of years,"" he wrote.Calhoun told CNBC in an interview Monday that the decision to resign was ""100%"" his own.""We have another mountain to climb,"" Calhoun said. ""Let's not avoid the call for action. Let's not avoid the changes that we have to make in our factory. Let's not avoid the need to slow down a bit and let the supply chain catch up.""Calhoun, a more than decade-long board member at Boeing, took the top job there in January 2020 after the company ousted its previous chief executive, Dennis Muilenburg, for his handling of the aftermath of two deadly 737 Max crashes.For months Calhoun has promised investors, airline customers and the general public that Boeing will get its myriad quality struggles under control. The Federal Aviation Administration has stepped up oversight of Boeing, and agency Administrator Mike Whitaker after the Alaska Airlines accident said Boeing will be barred from increasing 737 production until the FAA is satisfied with the company's quality control.Boeing's production problems have delayed deliveries of new planes to customers and hampered growth plans. CEOs of some of the company's largest customers, including United Airlines, Southwest Airlines and American Airlines have publicly complained about the delays.Ryanair, Boeing's largest airline customer in Europe, said in a statement Monday it welcomes the management changes.""Stan Deal has done a great sales job for Boeing for many years, but he's not the person to turn around the operation in Seattle, and that's where most of the problems have been in recent years,"" Ryanair CEO Michael O'Leary said in a video posted to social media platform X.United's CEO, Scott Kirby, earlier this month said he urged Boeing to stop making yet-to-be-certified Max 10 planes for the company because it wasn't clear when the FAA would clear those aircraft to fly.Last week, airline CEOs started scheduling meetings with Boeing directors to voice their displeasure at the lack of manufacturing quality controls and lower-than-expected production of 737 Max planes. The meetings were to include Kellner and one or more other board members.Also last week, Boeing Chief Financial Officer Brian West said at an industry conference that Boeing would burn more cash than expected because of limited 737 Max production.Boeing's stock added 1.4% on Monday after the announcements. Its shares are down more than 26% so far this year.",CNBC,25/03/2024,"['In this articleBoeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shake-up for the embattled aerospace giant.', ""Larry Kellner, chairman of the board, will not stand for reelection at Boeing's annual meeting in May, Boeing said Monday."", 'He will be succeeded as chair by Steve Mollenkopf, who has been a Boeing director since 2020 and is a former CEO of Qualcomm.', 'Mollenkopf will lead the board in picking a new CEO, Boeing said.', ""And Stan Deal, president and chief executive of Boeing's commercial airplanes unit, is leaving the company effective immediately."", ""Moving into his job is Stephanie Pope, who recently became Boeing's chief operating officer after previously running Boeing Global Services."", 'The departures come as airlines and regulators have been increasing calls for major changes at the company after a host of quality and manufacturing flaws on Boeing planes.', 'Scrutiny intensified after a Jan. 5 accident, when a door plug blew out of a nearly new Boeing 737 Max 9 minutes into an Alaska Airlines flight.', '""As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing,"" Calhoun wrote to employees on Monday. ""', 'We must continue to respond to this accident with humility and complete transparency.', 'We also must inculcate a total commitment to safety and quality at every level of our company.', '""The eyes of the world are on us, and I know we will come through this moment a better company, building on all the learnings we accumulated as we worked together to rebuild Boeing over the last number of years,"" he wrote.', 'Calhoun told CNBC in an interview Monday that the decision to resign was ""100%"" his own.', '""We have another mountain to climb,"" Calhoun said. ""', ""Let's not avoid the call for action."", ""Let's not avoid the changes that we have to make in our factory."", ""Let's not avoid the need to slow down a bit and let the supply chain catch up."", '""Calhoun, a more than decade-long board member at Boeing, took the top job there in January 2020 after the company ousted its previous chief executive, Dennis Muilenburg, for his handling of the aftermath of two deadly 737 Max crashes.', 'For months Calhoun has promised investors, airline customers and the general public that Boeing will get its myriad quality struggles under control.', ""The Federal Aviation Administration has stepped up oversight of Boeing, and agency Administrator Mike Whitaker after the Alaska Airlines accident said Boeing will be barred from increasing 737 production until the FAA is satisfied with the company's quality control."", ""Boeing's production problems have delayed deliveries of new planes to customers and hampered growth plans."", ""CEOs of some of the company's largest customers, including United Airlines, Southwest Airlines and American Airlines have publicly complained about the delays."", ""Ryanair, Boeing's largest airline customer in Europe, said in a statement Monday it welcomes the management changes."", '""Stan Deal has done a great sales job for Boeing for many years, but he\'s not the person to turn around the operation in Seattle, and that\'s where most of the problems have been in recent years,"" Ryanair CEO Michael O\'Leary said in a video posted to social media platform X.United\'s CEO, Scott Kirby, earlier this month said he urged Boeing to stop making yet-to-be-certified Max 10 planes for the company because it wasn\'t clear when the FAA would clear those aircraft to fly.', 'Last week, airline CEOs started scheduling meetings with Boeing directors to voice their displeasure at the lack of manufacturing quality controls and lower-than-expected production of 737 Max planes.', 'The meetings were to include Kellner and one or more other board members.', 'Also last week, Boeing Chief Financial Officer Brian West said at an industry conference that Boeing would burn more cash than expected because of limited 737 Max production.', ""Boeing's stock added 1.4% on Monday after the announcements."", 'Its shares are down more than 26% so far this year.']",0.035935591994953595,We also must inculcate a total commitment to safety and quality at every level of our company.,"Last week, airline CEOs started scheduling meetings with Boeing directors to voice their displeasure at the lack of manufacturing quality controls and lower-than-expected production of 737 Max planes." Chrysler parent Stellantis laying off 400 salaried U.S. workers due to 'unprecedented uncertainties',https://www.cnbc.com/2024/03/22/chrysler-parent-stellantis-laying-off-400-salaried-us-workers.html,2024-03-22T17:41:18+0000,"In this articleDETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions.Stellantis on Friday said the layoffs would affect about 2% of employees in those units ""after rigorous organizational reviews."" Stellantis employed 11,800 U.S. salaried employees as of the end of last year.The cuts are effective March 31.""As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,"" the company said in an emailed statement.A spokeswoman for the automaker declined to discuss the exact number of employees who are being laid off. A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.The layoffs occurred during a ""mandatory remote work day"" for U.S. salaried, nonunion employees in Stellantis' engineering and technology organization, according to an internal announcement confirmed by two sources who were not authorized to speak about the actions.The action is the latest by Stellantis CEO Carlos Tavares to cut costs through layoffs, buyouts and other methods since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in 2021.The cuts are part of a push to achieve Stellantis' ""Dare Forward 2030"" strategic plan that aims to increase profits and double the automaker's revenue to 300 billion euros, or $335 billion, by then, among other targets.""While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive and our Dare Forward 2030 strategic plan,"" the company said.",CNBC,22/03/2024,"['In this articleDETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions.', 'Stellantis on Friday said the layoffs would affect about 2% of employees in those units ""after rigorous organizational reviews.""', 'Stellantis employed 11,800 U.S. salaried employees as of the end of last year.', 'The cuts are effective March 31.""As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,"" the company said in an emailed statement.', 'A spokeswoman for the automaker declined to discuss the exact number of employees who are being laid off.', 'A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.', 'The layoffs occurred during a ""mandatory remote work day"" for U.S. salaried, nonunion employees in Stellantis\' engineering and technology organization, according to an internal announcement confirmed by two sources who were not authorized to speak about the actions.', 'The action is the latest by Stellantis CEO Carlos Tavares to cut costs through layoffs, buyouts and other methods since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in 2021.The cuts are part of a push to achieve Stellantis\' ""Dare Forward 2030"" strategic plan that aims to increase profits and double the automaker\'s revenue to 300 billion euros, or $335 billion, by then, among other targets.', '""While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive and our Dare Forward 2030 strategic plan,"" the company said.']",0.14150570793656872,"The cuts are effective March 31.""As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,"" the company said in an emailed statement.","Stellantis on Friday said the layoffs would affect about 2% of employees in those units ""after rigorous organizational reviews.""" Shohei Ohtani's interpreter fired after reports of theft,https://www.bbc.co.uk/news/business-68622772,2024-03-21T04:23:43.000Z,"Baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, has been fired by the Los Angeles Dodgers after allegations of theft connected to illegal gambling. According to ESPN, at least $4.5m (£3.5m) was transferred from Ohtani's bank account to a bookmaker. Ohtani is not accused of wrongdoing. Mr Mizuhara spoke to the sports network about his gambling debts on Tuesday. The news comes as Ohtani made his regular season debut with the Dodgers. The team's senior communications director has told the BBC that they are gathering information and that they ""can confirm that interpreter Ippei Mizuhara has been terminated"". ESPN has said it reviewed bank information showing Ohtani's name on two $500,000 payments, one sent in September and the other in October, to a bookmaking operation run by Mathew Bowyer. According to the Los Angeles Times, Mr Bowyer was investigated by a prosecution team targeting a multimillion-dollar illegal sports betting scheme but was not charged with a crime. Sports betting is legal in 38 states in America but it remains illegal in California. Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on any baseball game and placing bets with illegal bookmakers. It is not known whether any of Mr Mizuhara's sports gambling involved baseball games. No one has alleged that Ohtani placed any bets. Mr Mizuhara reportedly said in his interview with ESPN that he had asked the baseball star for help with his gambling debts. ""Obviously, [Ohtani] wasn't happy about it and said he would help me out to make sure I never do this again,"" Mr Mizuhara reportedly said. ""I want everyone to know Shohei had zero involvement in betting. I want people to know I did not know this was illegal. I learned my lesson the hard way. I will never do sports betting ever again."" A spokesman for Ohtani initially told ESPN that the former Los Angeles Angels star had transferred funds to cover his interpreter's gambling debts but he has since recanted this account. Mr Mizuhara himself has reportedly changed his story, now saying that Ohtani did not know about the gambling debts and did not transfer the money. The LA Times has reported that Ohtani's attorneys have since accused his interpreter of ""massive theft"". ""In the course of responding to recent media inquiries, we discovered that Shohei has been the victim of a massive theft, and we are turning the matter over to the authorities,"" a statement to the newspaper from West Hollywood law firm Berk Brettler read. The BBC has contacted the law firm for confirmation. The news comes as Ohtani played in the Los Angeles Dodgers' season opener in Seoul. Mr Mizuhara had been with him this week in South Korea for the series against the San Diego Padres, which has drawn legions of fans. Ahead of the second game in the series on Thursday, Dodgers manager Dave Roberts repeatedly declined to comment on the issues between Mr Mizuhara and Ohtani. He only said that his star player would take the field as normal. ""Shohei's ready - ready to go for tonight's game,"" he said. Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise. He had just won his second unanimous American League MVP award. His stint in the US started in 2018, and Mr Mizuhara has been a constant companion. He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation. Mr Mizuhara's ability to interpret Ohtani's comments into colloquial English has been widely praised in Japan. Additional reporting by Mattea Bubalo ",BBC,21/03/2024,"[""Baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, has been fired by the Los Angeles Dodgers after allegations of theft connected to illegal gambling."", ""According to ESPN, at least $4.5m (£3.5m) was transferred from Ohtani's bank account to a bookmaker."", 'Ohtani is not accused of wrongdoing.', 'Mr Mizuhara spoke to the sports network about his gambling debts on Tuesday.', 'The news comes as Ohtani made his regular season debut with the Dodgers.', 'The team\'s senior communications director has told the BBC that they are gathering information and that they ""can confirm that interpreter Ippei Mizuhara has been terminated"".', ""ESPN has said it reviewed bank information showing Ohtani's name on two $500,000 payments, one sent in September and the other in October, to a bookmaking operation run by Mathew Bowyer."", 'According to the Los Angeles Times, Mr Bowyer was investigated by a prosecution team targeting a multimillion-dollar illegal sports betting scheme but was not charged with a crime.', 'Sports betting is legal in 38 states in America but it remains illegal in California.', 'Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on any baseball game and placing bets with illegal bookmakers.', ""It is not known whether any of Mr Mizuhara's sports gambling involved baseball games."", 'No one has alleged that Ohtani placed any bets.', 'Mr Mizuhara reportedly said in his interview with ESPN that he had asked the baseball star for help with his gambling debts. ""', 'Obviously, [Ohtani] wasn\'t happy about it and said he would help me out to make sure I never do this again,"" Mr Mizuhara reportedly said. ""', 'I want everyone to know Shohei had zero involvement in betting.', 'I want people to know I did not know this was illegal.', 'I learned my lesson the hard way.', 'I will never do sports betting ever again.""', ""A spokesman for Ohtani initially told ESPN that the former Los Angeles Angels star had transferred funds to cover his interpreter's gambling debts but he has since recanted this account."", 'Mr Mizuhara himself has reportedly changed his story, now saying that Ohtani did not know about the gambling debts and did not transfer the money.', 'The LA Times has reported that Ohtani\'s attorneys have since accused his interpreter of ""massive theft"". ""', 'In the course of responding to recent media inquiries, we discovered that Shohei has been the victim of a massive theft, and we are turning the matter over to the authorities,"" a statement to the newspaper from West Hollywood law firm Berk Brettler read.', 'The BBC has contacted the law firm for confirmation.', ""The news comes as Ohtani played in the Los Angeles Dodgers' season opener in Seoul."", 'Mr Mizuhara had been with him this week in South Korea for the series against the San Diego Padres, which has drawn legions of fans.', 'Ahead of the second game in the series on Thursday, Dodgers manager Dave Roberts repeatedly declined to comment on the issues between Mr Mizuhara and Ohtani.', 'He only said that his star player would take the field as normal. ""', 'Shohei\'s ready - ready to go for tonight\'s game,"" he said.', 'Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise.', 'He had just won his second unanimous American League MVP award.', 'His stint in the US started in 2018, and Mr Mizuhara has been a constant companion.', ""He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation."", ""Mr Mizuhara's ability to interpret Ohtani's comments into colloquial English has been widely praised in Japan."", 'Additional reporting by Mattea Bubalo']",-0.010331690155923764,"Obviously, [Ohtani] wasn't happy about it and said he would help me out to make sure I never do this again,"" Mr Mizuhara reportedly said. ""","According to the Los Angeles Times, Mr Bowyer was investigated by a prosecution team targeting a multimillion-dollar illegal sports betting scheme but was not charged with a crime." "The state of women's sports: Top executives weigh in on parity, media share and NIL regulations",https://www.cnbc.com/2024/03/17/womens-sports-executives-weigh-in-on-parity-media-and-nil.html,2024-03-18T13:50:17+0000,"Women's sports reached an inflection point in 2023, propelled by major new broadcast deals, once-in-a-lifetime players and record-breaking audiences that dramatically changed the sports landscape.From Caitlin Clark fever in Iowa to a packed house of 92,000 fans for women's volleyball in Nebraska, women's sports have never been more at the forefront.And it's not slowing down.Revenue generated by women's elite sports could surpass $1 billion this year, a 300% increase from 2021, according to estimates from Deloitte.Bigger media deals and more commercial sponsors are driving record valuations for women's sports, with several teams' values expected to exceed $100 million in 2024, according to Deloitte.Last year saw record media deals for women's sports as the NCAA and NWSL both inked groundbreaking agreements. And investors from private equity to celebrities are lining up to get in the game.Yet, there's still a lot of work to be done, specifically, in the areas of equal pay, prime-time access and even the need for more historical data.CNBC surveyed some of the most high-powered women executives in sports, ranging from league commissioners to team owners and CEOs, to hear their thoughts on the state of women in sports. Some of their answers have been edited for style, clarity and length.Renie Anderson, executive vice president and chief revenue officer for the NFL: The obstacle, or really the opportunity, for today is to continue to amplify the spectacular athleticism of these women. Rather than be shocked and surprised that women are spectacular at sport, we need to do a better job of weaving in the message of greatness when highlighting the greatness in men's sports. It's there. It just doesn't get the attention it deserves.Jessica Berman, commissioner of the National Women's Soccer League: Because the world has woken up to women's sports, the expectations on how fast this can grow, from all stakeholders, is really challenging. We're 100 years behind men's sports, and so it's not to say that we should move slowly. It is to say that it is challenging to sort of build the plane as quickly as so many stakeholders expect it to be built — and to do it in a way that's sustainable and commercially viable.Cathy Engelbert, commissioner of the Women's National Basketball Association: One of the obstacles is the undervaluation of our assets. Whether it's a patch on the uniform or an ad buy on a broadcast, we need to change the model. It's based on decades-old spreadsheet models that are tailored to men's sports and in those models, a lot of things that companies are now supporting in women's sports aren't being accounted for like their diversity, their community, the fact that they are not the ""one and done"" type.Jessica Gelman, KAGR CEO and founder of the MIT Sloan Sports Analytics Conference: A major obstacle has been available data on performance which supports and enhances storytelling. These stories create interest and drive (i.e. see Caitlin Clark's NCAA scoring record quest). This past year the MIT Sloan Sports Analytics Conference donated to Sports-Reference to support the addition of college women's data back to 1987.Jayna Hefford, senior vice president of operations for the Professional Women's Hockey League: Women's sports still struggle to secure prime broadcast windows, consistent airtime and traditional media coverage. Furthermore, the scarcity of traditional media coverage has historically forced women's teams and leagues, as well as women-owned media companies, to take the lead in promoting their own narratives. This limited visibility has made it challenging to attract brand support, even though research indicates that companies investing in women's sports see lucrative returns.Haley Rosen, CEO and founder of Just Women's Sports: One of the biggest obstacles hindering the progress of women's sports today is relying on the legacy platforms. Legacy platforms aren't set up to support women's sports and build on the momentum. Yes, they'll air the games. But there's only so much time in the day for the shoulder programming and coverage needed to amplify the women's leagues, and legacy platforms are always going to prioritize men's sports. Viewership numbers are rising, but the relative percentage of women's sports coverage on legacy platforms hasn't changed.Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association: Women's sports today face two primary obstacles: investment and exposure. At the LPGA we've made some great strides. Our total revenue has gone up 65% in the last four years, and total purses — the prize funds players' play for each week — has grown 70% since 2021. That's because of investment, because of partnerships, because of corporate decision makers seeing not only the significant commercial value of the LPGA but also the opportunity to have a positive impact on the world.Katrina Adams, former pro tennis player and ex-CEO of the United States Tennis Association: I think what the Women's Tennis Association has done for many years, is shown other professional sports what can be achieved if they use your voice and their talent, that they can survive. When you look at the players of today — you know, we talk about the [Caitlin Clark types] and Sabrina Ionescu and Coco Gauff, who was the highest paid athlete last year — there's so many opportunities for these young women to use their platform to really speak up and speak out on what it means to be on a level playing field week in and week out.Berman: I think we have to go from these being moments to being part of a movement, so that we get out of the default of having these reference points be episodic, or transactional or in isolation, so that it can translate to more sustainable growth and investment. I think the more we can demonstrate and talk about some of those consistent data points that show that the business is actually being built in a more consistent way, the easier it'll be to debunk the narrative that these are one-off success stories.Pamela Duckworth, head of Fubo Studios at FuboTV: Female athletes are multifaceted — they are also mothers, businesswomen, philanthropists, media moguls and more. We can use the momentum from attention-grabbing sports moments to bring athletes' stories to the forefront and connect with broader audiences that way.Engelbert: Sports is about marketing, marketing, marketing. If you look back at the history of the NBA that put the league on the map and the multibillion-dollar deals, it was a rivalry coming out of college, Magic Johnson and Larry Bird. Then it was a marketing genius with Michael Jordan and Nike. But you need capital to market and advertise. I think the marketing strategy we put in place now that we have this capital is to build household names, create rivalries, and promote games or events of consequence.Amy Howe, FanDuel CEO: Women's sports need to continue to position their star athletes (i.e. Ionescu, A'ja Wilson and Breanna Stewart of WNBA) in the mainstream at parity with their male counterparts – the 3-point competition was a perfect example. Not surprisingly, all of this investment and support is fueling greater performance from female athletes which is driving added success in places like FanDuel's business, where we saw a 270% increase in bet counts on women's sports and 101% increase in handle, or amount wagered. It's a real flywheel effect.Rosen: There are tens of millions of sports fans out there waiting to be onboarded into this space. We have to make it easy and fun for them to be a women's sports fan and not just rely on the stand-alone moments. That means meeting them every day on their feeds, creating content that engages them and keeps them continually connected to this space. Kelly Laferriere, chief business officer, A-Rod Corp.:The investment community and media companies are taking notice. They recognize the strategic value. Distributing women's sports content across multiple media platforms to reach the widest possible audience will drive new revenue and keep women's sports part of mainstream conversations. The Paris Olympics in July also creates an opportunity for female athletes to shine on the world stage.Adams: I think it's an opportunity for our women to finally be recognized and actually make a living. The men, they've had this opportunity for years, for decades, ""under the table,"" if you will, now the women are able to do it legally with the NIL. For them to make a little money and really grow the sport in their communities, in their cities in their college towns, etc. I think it's great. They're learning how to become entrepreneurs at a younger age, and they're doing extremely well.Anderson: I think NIL helps likely a small few through their social media. I'm not sure outside of a handful of amazing athletes/influencers it's going to be spread out throughout college sports for women, like it is for football for men. But I guess we wait and see. I don't think it hurts, but for those few women that do benefit, it's an opportunity for them to lift up other women.Duckworth: NIL opens doors for female athletes to build their own brands in ways that weren't possible before. Why shouldn't a female athlete make money the same way her male counterpart can? Money equals independence in my book. Kudos to major sports stars like Angel Reese or Caitlin Clark on showing young women just what can be built. Hefford: The positive impact of NIL on women's college athletics has reverberated throughout women's sports, creating a scenario where all boats rise. As more female athletes become household names, the investment in women's sports is likely to increase, encouraging more young girls to start — or continue participating in — sports.Rosen: On paper, it's great and we should celebrate anything that helps women athletes grow their brand and monetize their talents. There are obviously still some details that need to be ironed out, especially when it comes to team dynamics and the potential for NIL deals to force players into taking the short-term profit at the cost of their long-term development.",CNBC,18/03/2024,"[""Women's sports reached an inflection point in 2023, propelled by major new broadcast deals, once-in-a-lifetime players and record-breaking audiences that dramatically changed the sports landscape."", ""From Caitlin Clark fever in Iowa to a packed house of 92,000 fans for women's volleyball in Nebraska, women's sports have never been more at the forefront."", ""And it's not slowing down."", ""Revenue generated by women's elite sports could surpass $1 billion this year, a 300% increase from 2021, according to estimates from Deloitte."", ""Bigger media deals and more commercial sponsors are driving record valuations for women's sports, with several teams' values expected to exceed $100 million in 2024, according to Deloitte."", ""Last year saw record media deals for women's sports as the NCAA and NWSL both inked groundbreaking agreements."", 'And investors from private equity to celebrities are lining up to get in the game.', ""Yet, there's still a lot of work to be done, specifically, in the areas of equal pay, prime-time access and even the need for more historical data."", 'CNBC surveyed some of the most high-powered women executives in sports, ranging from league commissioners to team owners and CEOs, to hear their thoughts on the state of women in sports.', 'Some of their answers have been edited for style, clarity and length.', 'Renie Anderson, executive vice president and chief revenue officer for the NFL: The obstacle, or really the opportunity, for today is to continue to amplify the spectacular athleticism of these women.', ""Rather than be shocked and surprised that women are spectacular at sport, we need to do a better job of weaving in the message of greatness when highlighting the greatness in men's sports."", ""It's there."", ""It just doesn't get the attention it deserves."", ""Jessica Berman, commissioner of the National Women's Soccer League: Because the world has woken up to women's sports, the expectations on how fast this can grow, from all stakeholders, is really challenging."", ""We're 100 years behind men's sports, and so it's not to say that we should move slowly."", ""It is to say that it is challenging to sort of build the plane as quickly as so many stakeholders expect it to be built — and to do it in a way that's sustainable and commercially viable."", ""Cathy Engelbert, commissioner of the Women's National Basketball Association: One of the obstacles is the undervaluation of our assets."", ""Whether it's a patch on the uniform or an ad buy on a broadcast, we need to change the model."", 'It\'s based on decades-old spreadsheet models that are tailored to men\'s sports and in those models, a lot of things that companies are now supporting in women\'s sports aren\'t being accounted for like their diversity, their community, the fact that they are not the ""one and done"" type.', 'Jessica Gelman, KAGR CEO and founder of the MIT Sloan Sports Analytics Conference: A major obstacle has been available data on performance which supports and enhances storytelling.', ""These stories create interest and drive (i.e. see Caitlin Clark's NCAA scoring record quest).This past year the MIT Sloan Sports Analytics Conference donated to Sports-Reference to support the addition of college women's data back to 1987.Jayna Hefford, senior vice president of operations for the Professional Women's Hockey League: Women's sports still struggle to secure prime broadcast windows, consistent airtime and traditional media coverage."", ""Furthermore, the scarcity of traditional media coverage has historically forced women's teams and leagues, as well as women-owned media companies, to take the lead in promoting their own narratives."", ""This limited visibility has made it challenging to attract brand support, even though research indicates that companies investing in women's sports see lucrative returns."", ""Haley Rosen, CEO and founder of Just Women's Sports: One of the biggest obstacles hindering the progress of women's sports today is relying on the legacy platforms."", ""Legacy platforms aren't set up to support women's sports and build on the momentum."", ""Yes, they'll air the games."", ""But there's only so much time in the day for the shoulder programming and coverage needed to amplify the women's leagues, and legacy platforms are always going to prioritize men's sports."", ""Viewership numbers are rising, but the relative percentage of women's sports coverage on legacy platforms hasn't changed."", ""Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association: Women's sports today face two primary obstacles: investment and exposure."", ""At the LPGA we've made some great strides."", ""Our total revenue has gone up 65% in the last four years, and total purses — the prize funds players' play for each week — has grown 70% since 2021."", ""That's because of investment, because of partnerships, because of corporate decision makers seeing not only the significant commercial value of the LPGA but also the opportunity to have a positive impact on the world."", ""Katrina Adams, former pro tennis player and ex-CEO of the United States Tennis Association: I think what the Women's Tennis Association has done for many years, is shown other professional sports what can be achieved if they use your voice and their talent, that they can survive."", ""When you look at the players of today — you know, we talk about the [Caitlin Clark types] and Sabrina Ionescu and Coco Gauff, who was the highest paid athlete last year — there's so many opportunities for these young women to use their platform to really speak up and speak out on what it means to be on a level playing field week in and week out."", 'Berman: I think we have to go from these being moments to being part of a movement, so that we get out of the default of having these reference points be episodic, or transactional or in isolation, so that it can translate to more sustainable growth and investment.', ""I think the more we can demonstrate and talk about some of those consistent data points that show that the business is actually being built in a more consistent way, the easier it'll be to debunk the narrative that these are one-off success stories."", 'Pamela Duckworth, head of Fubo Studios at FuboTV: Female athletes are multifaceted — they are also mothers, businesswomen, philanthropists, media moguls and more.', ""We can use the momentum from attention-grabbing sports moments to bring athletes' stories to the forefront and connect with broader audiences that way."", 'Engelbert: Sports is about marketing, marketing, marketing.', 'If you look back at the history of the NBA that put the league on the map and the multibillion-dollar deals, it was a rivalry coming out of college, Magic Johnson and Larry Bird.', 'Then it was a marketing genius with Michael Jordan and Nike.', 'But you need capital to market and advertise.', 'I think the marketing strategy we put in place now that we have this capital is to build household names, create rivalries, and promote games or events of consequence.', ""Amy Howe, FanDuel CEO: Women's sports need to continue to position their star athletes (i.e. Ionescu, A'ja Wilson and Breanna Stewart of WNBA) in the mainstream at parity with their male counterparts – the 3-point competition was a perfect example."", ""Not surprisingly, all of this investment and support is fueling greater performance from female athletes which is driving added success in places like FanDuel's business, where we saw a 270% increase in bet counts on women's sports and 101% increase in handle, or amount wagered."", ""It's a real flywheel effect."", 'Rosen: There are tens of millions of sports fans out there waiting to be onboarded into this space.', ""We have to make it easy and fun for them to be a women's sports fan and not just rely on the stand-alone moments."", 'That means meeting them every day on their feeds, creating content that engages them and keeps them continually connected to this space.', 'Kelly Laferriere, chief business officer, A-Rod Corp.:The investment community and media companies are taking notice.', 'They recognize the strategic value.', ""Distributing women's sports content across multiple media platforms to reach the widest possible audience will drive new revenue and keep women's sports part of mainstream conversations."", 'The Paris Olympics in July also creates an opportunity for female athletes to shine on the world stage.', ""Adams: I think it's an opportunity for our women to finally be recognized and actually make a living."", 'The men, they\'ve had this opportunity for years, for decades, ""under the table,"" if you will, now the women are able to do it legally with the NIL.', 'For them to make a little money and really grow the sport in their communities, in their cities in their college towns, etc.', ""I think it's great."", ""They're learning how to become entrepreneurs at a younger age, and they're doing extremely well."", 'Anderson: I think NIL helps likely a small few through their social media.', ""I'm not sure outside of a handful of amazing athletes/influencers it's going to be spread out throughout college sports for women, like it is for football for men."", 'But I guess we wait and see.', ""I don't think it hurts, but for those few women that do benefit, it's an opportunity for them to lift up other women."", ""Duckworth: NIL opens doors for female athletes to build their own brands in ways that weren't possible before."", ""Why shouldn't a female athlete make money the same way her male counterpart can?"", 'Money equals independence in my book.', 'Kudos to major sports stars like Angel Reese or Caitlin Clark on showing young women just what can be built.', ""Hefford: The positive impact of NIL on women's college athletics has reverberated throughout women's sports, creating a scenario where all boats rise."", ""As more female athletes become household names, the investment in women's sports is likely to increase, encouraging more young girls to start — or continue participating in — sports."", ""Rosen: On paper, it's great and we should celebrate anything that helps women athletes grow their brand and monetize their talents."", 'There are obviously still some details that need to be ironed out, especially when it comes to team dynamics and the potential for NIL deals to force players into taking the short-term profit at the cost of their long-term development.']",0.2888674204582378,"Rosen: On paper, it's great and we should celebrate anything that helps women athletes grow their brand and monetize their talents.","Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association: Women's sports today face two primary obstacles: investment and exposure." Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards," Updated 12:10 PM EST, Wed January 10, 2024 ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards and Chase Ultimate Rewards. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees. When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings. If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel. You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards. Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back. Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories. As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards. Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees. By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption. Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary. Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points. Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible. It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year. Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option. Here’s a look at your Citi ThankYou travel redemption options and how they work. Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal. Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points. If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate. By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines. Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option. Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option. Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best. For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points: Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points. Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value. Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece. Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio. Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available. Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards and Chase Ultimate Rewards.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points: Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.419572580688158,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder." "Apple, Google and Meta at risk of ‘heavy’ fines as Europe launches new probes",https://edition.cnn.com/2024/03/25/tech/digital-markets-act-apple-google-meta/index.html," Updated 9:54 AM EDT, Mon March 25, 2024 ","The European Union has launched investigations into Apple, Google and Facebook parent Meta on suspicion that they are failing to comply with a new landmark European law designed to promote competition in digital services. The European Commission said it “suspects” that various practices by all three companies “fall short of effective compliance” with the Digital Markets Act (DMA), which went into effect earlier this month. If the probes find a “lack of full compliance,” they could face “heavy fines,” said European Commissioner Thierry Breton. The DMA requires dominant online platforms to give users more choices and rivals more opportunities to compete. It currently applies to the three tech giants under investigation, as well as Amazon (AMZN), Microsoft (MSFT) and ByteDance, the Chinese parent company of TikTok. By mid-May, the list could also include Elon Musk’s X and Booking.com, the EU has said. Violations of the new law can lead to stiff penalties, including fines of up to 10% of a company’s global revenue and up to 20% for repeat offenses. For most of the regulated companies, that would translate to tens of billions of dollars. The practices the European Commission is investigating include what it calls Meta’s “pay or consent” approach. Last October, Meta (META) launched a subscription service, called “Subscription for no ads,” allowing European users of Facebook and Instagram to pay up to €12.99 ($14) a month for ad-free versions. “The Commission is concerned that the binary choice imposed by Meta’s ‘pay or consent’ model may not provide a real alternative in case users do not consent, thereby not achieving the objective of preventing the accumulation of personal data by (large companies),” the body said in a statement. A Meta spokesperson responded: “Subscriptions as an alternative to advertising are a well-established business model across many industries, and we designed ‘Subscription for no ads’ to address several overlapping regulatory obligations, including the DMA. We will continue to engage constructively with the Commission.” The EU is also looking into app stores operated by Apple (AAPL) and Google. The DMA states that large digital platforms — so-called gatekeepers — must allow app developers to “steer” consumers to offers outside the two dominant stores, free of charge. Among other concerns, the EU suspects that Apple and Google’s parent Alphabet (GOOGL) constrain developers’ ability “to freely communicate (with end-users) and promote offers and directly conclude contracts, including by imposing various charges,” the Commission said. “We are concerned Alphabet, Apple & Meta & are not meeting their obligations, e.g.: Apple & Alphabet still charge recurring fees to app developers,” European Commissioner Margrethe Vestager wrote on X Monday. Apple’s “choice screen” for Safari is also under scrutiny, the European Commission said. Under the DMA, Apple must prompt users with “choice screens which must effectively and easily allow them to select an alternative default service, such as a browser or search engine on their iPhones,” it noted. Apple told CNN in a statement: “We’re confident our plan complies with the DMA, and we’ll continue to constructively engage with the European Commission as they conduct their investigations.” Another of the Commission’s concerns pertains to Google Search. Alphabet may not have done enough to ensure that third-party services appearing in search results are treated in “a fair and non-discriminatory manner” compared with Alphabet’s own services, such as Google Shopping and Google Flights. Oliver Bethell, a competition executive at Google, said in a statement: “To comply with the Digital Markets Act, we have made significant changes to the way our services operate in Europe. “We have engaged with the European Commission, stakeholders and third parties in dozens of events over the past year to receive and respond to feedback, and to balance conflicting needs within the ecosystem. We will continue to defend our approach in the coming months.” This story has been updated with additional information.",CNN,25/03/2024,"['The European Union has launched investigations into Apple, Google and Facebook parent Meta on suspicion that they are failing to comply with a new landmark European law designed to promote competition in digital services.', 'The European Commission said it “suspects” that various practices by all three companies “fall short of effective compliance” with the Digital Markets Act (DMA), which went into effect earlier this month.', 'If the probes find a “lack of full compliance,” they could face “heavy fines,” said European Commissioner Thierry Breton.', 'The DMA requires dominant online platforms to give users more choices and rivals more opportunities to compete.', 'It currently applies to the three tech giants under investigation, as well as Amazon (AMZN), Microsoft (MSFT) and ByteDance, the Chinese parent company of TikTok.', 'By mid-May, the list could also include Elon Musk’s X and Booking.com, the EU has said.', 'Violations of the new law can lead to stiff penalties, including fines of up to 10% of a company’s global revenue and up to 20% for repeat offenses.', 'For most of the regulated companies, that would translate to tens of billions of dollars.', 'The practices the European Commission is investigating include what it calls Meta’s “pay or consent” approach.', 'Last October, Meta (META)launcheda subscription service, called “Subscription for no ads,” allowing European users of Facebook and Instagram to pay up to €12.99 ($14) a month for ad-free versions.', '“The Commission is concerned that the binary choice imposed by Meta’s ‘pay or consent’ model may not provide a real alternative in case users do not consent, thereby not achieving the objective of preventing the accumulation of personal data by (large companies),” the body said in a statement.', 'A Meta spokesperson responded: “Subscriptions as an alternative to advertising are a well-established business model across many industries, and we designed ‘Subscription for no ads’ to address several overlapping regulatory obligations, including the DMA.', 'We will continue to engage constructively with the Commission.”', 'The EU is also looking into app stores operated by Apple (AAPL) and Google.', 'The DMA states that large digital platforms —so-called gatekeepers —must allow app developers to “steer” consumers to offers outside the two dominant stores, free of charge.', 'Among other concerns, the EU suspects that Apple and Google’s parent Alphabet (GOOGL) constrain developers’ ability “to freely communicate (with end-users) and promote offers and directly conclude contracts, including by imposing various charges,” the Commission said.', '“We are concerned Alphabet, Apple & Meta & are not meeting their obligations, e.g.: Apple & Alphabet still charge recurring fees to app developers,” European Commissioner Margrethe Vestager wrote on X Monday.', 'Apple’s “choice screen” for Safari is also under scrutiny, the European Commission said.', 'Under the DMA, Apple must prompt users with “choice screens which must effectively and easily allow them to select an alternative default service, such as a browser or search engine on their iPhones,” it noted.', 'Apple told CNN in a statement: “We’re confident our plan complies with the DMA, and we’ll continue to constructively engage with the European Commission as they conduct their investigations.”', 'Another of the Commission’s concerns pertains to Google Search.', 'Alphabet may not have done enough to ensure that third-party services appearing in search results are treated in “a fair and non-discriminatory manner” compared with Alphabet’s own services, such as Google Shopping and Google Flights.', 'Oliver Bethell, a competition executive at Google, said in a statement: “To comply with the Digital Markets Act, we have madesignificant changesto the way our services operate in Europe.', '“We have engaged with the European Commission, stakeholders and third parties in dozens of events over the past year to receive and respond to feedback, and to balance conflicting needs within the ecosystem.', 'We will continue to defend our approach in the coming months.”', 'This story has been updated with additional information.']",0.1455842646081827,"Alphabet may not have done enough to ensure that third-party services appearing in search results are treated in “a fair and non-discriminatory manner” compared with Alphabet’s own services, such as Google Shopping and Google Flights.","Violations of the new law can lead to stiff penalties, including fines of up to 10% of a company’s global revenue and up to 20% for repeat offenses." Fox News sued by family of Ukrainian journalist killed while covering war over ‘reckless and negligent conduct’,https://edition.cnn.com/2024/03/14/media/fox-news-sued-photojournalist-deaths/index.html," Updated 8:51 PM EDT, Thu March 14, 2024 ","Fox News is the subject of yet another explosive lawsuit. On the two-year anniversary of the attack in Ukraine that claimed the lives of Fox News photojournalist Pierre Zakrzewski and contractor Oleksandra “Sasha” Kuvshynova, the network was accused Thursday of being culpable for the fatal incident by engaging in “reckless and negligent conduct” that put the crew in harm’s way. The network was also accused of launching “a campaign of material misrepresentations and omissions to hide its own accountability for the disaster and shift blame” to then-security contractor Shane Thomson, who allegedly warned against the crew entering the dangerous zone near Kyiv where they were killed. The lawsuit, filed by Kuvshynova’s parents and Thomson in New York State court, not only named Fox News as a defendant, but also Fox Corporation Chairman Emeritus Rupert Murdoch, Fox News Chief Executive Suzanne Scott, and correspondent Benjamin Hall, who was severely injured in the attack, but survived. Both deaths were announced at the time by Scott, who said the team’s vehicle came under fire as they were reporting. Anton Gerashchenko, an advisor to the Ukrainian interior minister, blamed artillery shelling by Russian forces. But the circumstances that led to the 2022 tragedy, the lawsuit stated, were uncovered as part of a sweeping investigation conducted by lawyers for Thomson and Kuvshynova’s parents to get to the bottom of what happened on March 14, 2022. Their probe found that the circumstances that led to the attack were set into motion when the Fox News team disregarded warnings to avoid the Irpin-Hostomel area near Kyiv. The mayor of Irpin had barred journalists from the city and Thomson, the security contractor, had vetoed the idea of reporting from the area, according to the lawsuit. Disregarding such security warnings would be unusual in a war zone and Fox News correspondent Trey Yingst, who was also reporting from the area at the time, had indicated days prior to the incident that the network’s journalists were following protocol. Heading to the area was considered so dangerous, the lawsuit said, that the Ukrainian driver who had been working with the Fox News team “refused” to take them there, forcing the crew to “find a different driver.” Eventually, when the crew arrived in the region, they rendezvoused with a few Ukrainian soldiers, who had previously escorted The New York Times reporters into the area. That’s when they realized the vehicle the soldiers were driving was “not large enough to carry all” of them, the lawsuit said. The team decided to leave their security consultant behind, the lawsuit explained. “The absence of the security contractor was vital, as the crew made fatal mistakes,” the lawsuit said. The Fox News crew ultimately stopped at an abandoned checkpoint where they were attacked. According to the lawsuit, the “car caught fire and Sasha was burned to ashes inside it, causing her death.” Zakrzewski, the lawsuit said, “managed to escape the car but bled to death at the side of the road from a small puncture wound in his leg.” The lawsuit alleged that “the bleeding could easily have been stemmed to save his life if the security contractor trained in battlefield first aid had been present.” Hall survived the attack and was “later found grievously injured” before being taken for emergency medical care. In the aftermath of the tragedy, the lawsuit alleged that Fox News has tried to cover up its failures and hide them from the public. Fox News took “all electronic gear … that survived the attack” and “withheld any record of any evaluation or re-evaluation of the crew’s assignment,” the lawsuit said. The account of the attack that Hall later recounted in his book published by HarperCollins, the lawsuit added, was “misleading.” And, the lawsuit said, Fox News “has attempted to impose non-disclosure and non-disparagement agreements on all the surviving family members.” The lawsuit also alleged that after the fatal incident, Fox News tasked Thomson with transporting Zakrzewski’s body across the Polish border to his widow. The lawsuit said that Thomson objected to the assignment, but was told he had to complete it, and was later “let go from his employment without explanation.” “He was severely traumatized by the combined experience of his colleagues being killed, transporting the dead body of his friend, and then being dismissed,” the lawsuit said. “Shane reached out to Fox repeatedly for assistance with the trauma. Fox never responded, even after Shane attempted suicide by hanging.” The lawsuit alleged that Thomson has had trouble finding work because he is “frequently associated with the Fox News disaster of being security advisor for the crew that was killed in Irpin the day after journalists were banned from the area.” The lawsuit also alleged that Fox News employees spread a bogus story that he had a “drinking problem in Kyiv at the time of the fatal incident, insinuating that this was the cause of the disastrous assignment in which Pierre and Sasha were killed.” Kuvshynova’s parents and Thomson are seeking unspecified punitive damages. “Sasha Kuvshynova’s final text message — responding to her parents, who were highly alarmed by the dangerousness of the situation unfolding on March 14, with Russian forces closing in on Kyiv — was not to worry,” the lawsuit said, “because Fox was a professional news organization that knew what it was doing and would not expose her to unnecessary danger.”",CNN,14/03/2024,"['Fox Newsis the subject of yet another explosive lawsuit.', 'On the two-year anniversary of the attack inUkrainethat claimed the lives of Fox News photojournalistPierre Zakrzewskiand contractorOleksandra “Sasha” Kuvshynova, the network was accused Thursday of being culpable for the fatal incident by engaging in “reckless and negligent conduct” that put the crew in harm’s way.', 'The network was also accused of launching “a campaign of material misrepresentations and omissions to hide its own accountability for the disaster and shift blame” to then-security contractorShane Thomson, who allegedly warned against the crew entering the dangerous zone near Kyiv where they were killed.', 'The lawsuit, filed by Kuvshynova’s parents and Thomson in New York State court, not only named Fox News as a defendant, but alsoFox CorporationChairman EmeritusRupert Murdoch, Fox News Chief ExecutiveSuzanne Scott, and correspondentBenjamin Hall, who was severely injured in the attack, but survived.', 'Both deaths wereannounced at the timeby Scott, who said the team’s vehicle came under fire as they were reporting.', 'Anton Gerashchenko, an advisor to the Ukrainian interior minister, blamed artillery shelling by Russian forces.', 'But the circumstances that led to the 2022 tragedy, the lawsuit stated, were uncovered as part of a sweeping investigation conducted by lawyers for Thomson and Kuvshynova’s parents to get to the bottom of what happened on March 14, 2022.', 'Their probe found that the circumstances that led to the attack were set into motion when the Fox News team disregarded warnings to avoid the Irpin-Hostomel area near Kyiv.', 'The mayor of Irpin had barred journalists from the city and Thomson, the security contractor, had vetoed the idea of reporting from the area, according to the lawsuit.', 'Disregarding such security warnings would be unusual in a war zone and Fox News correspondent Trey Yingst, who was also reporting from the area at the time, had indicated days prior to the incident that the network’s journalists were following protocol.', 'Heading to the area was considered so dangerous, the lawsuit said, that the Ukrainian driver who had been working with the Fox News team “refused” to take them there, forcing the crew to “find a different driver.”', 'Eventually, when the crew arrived in the region, they rendezvoused with a few Ukrainian soldiers, who had previously escortedTheNew York Timesreporters into the area.', 'That’s when they realized the vehicle the soldiers were driving was “not large enough to carry all” of them, the lawsuit said.', 'The team decided to leave their security consultant behind, the lawsuit explained.', '“The absence of the security contractor was vital, as the crew made fatal mistakes,” the lawsuit said.', 'The Fox News crew ultimately stopped at an abandoned checkpoint where they were attacked.', 'According to the lawsuit, the “car caught fire and Sasha was burned to ashes inside it, causing her death.”', 'Zakrzewski, the lawsuit said, “managed to escape the car but bled to death at the side of the road from a small puncture wound in his leg.”', 'The lawsuit alleged that “the bleeding could easily have been stemmed to save his life if the security contractor trained in battlefield first aid had been present.”', 'Hall survived the attack and was “later found grievously injured” before being taken for emergency medical care.', 'In the aftermath of the tragedy, the lawsuit alleged that Fox News has tried to cover up its failures and hide them from the public.', 'Fox News took “all electronic gear … that survived the attack” and “withheld any record of any evaluation or re-evaluation of the crew’s assignment,” the lawsuit said.', 'The account of the attack that Hall later recounted in his book published byHarperCollins, the lawsuit added, was “misleading.”', 'And, the lawsuit said, Fox News “has attempted to impose non-disclosure and non-disparagement agreements on all the surviving family members.”', 'The lawsuit also alleged that after the fatal incident, Fox News tasked Thomson with transporting Zakrzewski’s body across the Polish border to his widow.', 'The lawsuit said that Thomson objected to the assignment, but was told he had to complete it, and was later “let go from his employment without explanation.”', '“He was severely traumatized by the combined experience of his colleagues being killed, transporting the dead body of his friend, and then being dismissed,” the lawsuit said. “', 'Shane reached out to Fox repeatedly for assistance with the trauma.', 'Fox never responded, even after Shane attempted suicide by hanging.”', 'The lawsuit alleged that Thomson has had trouble finding work because he is “frequently associated with the Fox News disaster of being security advisor for the crew that was killed in Irpin the day after journalists were banned from the area.”', 'The lawsuit also alleged that Fox News employees spread a bogus story that he had a “drinking problem in Kyiv at the time of the fatal incident, insinuating that this was the cause of the disastrous assignment in which Pierre and Sasha were killed.”', 'Kuvshynova’s parents and Thomson are seeking unspecified punitive damages.', '“Sasha Kuvshynova’s final text message — responding to her parents, who were highly alarmed by the dangerousness of the situation unfolding on March 14, with Russian forces closing in on Kyiv — was not to worry,” the lawsuit said, “because Fox was a professional news organization that knew what it was doing and would not expose her to unnecessary danger.”']",-0.5348643881666391,The lawsuit alleged that “the bleeding could easily have been stemmed to save his life if the security contractor trained in battlefield first aid had been present.”,"The network was also accused of launching “a campaign of material misrepresentations and omissions to hide its own accountability for the disaster and shift blame” to then-security contractorShane Thomson, who allegedly warned against the crew entering the dangerous zone near Kyiv where they were killed." Judge tosses Elon Musk’s case against hate speech watchdog in excoriating rebuke,https://edition.cnn.com/2024/03/25/tech/judge-tosses-elon-musks-case-against-hate-speech-watchdog/index.html," Updated 12:53 PM EDT, Mon March 25, 2024 ","A federal judge on Monday threw out a lawsuit by Elon Musk’s X that had targeted a watchdog group for its critical reports about hate speech on the social media platform. In a blistering 52-page order, the judge blasted X’s case as plainly punitive rather than about protecting the platform’s security and legal rights. “Sometimes it is unclear what is driving a litigation,” wrote District Judge Charles Breyer, of the US District Court for the Northern District of California, in the order’s opening lines. “Other times, a complaint is so unabashedly and vociferously about one thing that there can be no mistaking that purpose.” “This case represents the latter circumstance,” Breyer continued. “This case is about punishing the Defendants for their speech.” X’s lawsuit had accused the Center for Countering Digital Hate (CCDH) of violating the company’s terms of service when it studied, and then wrote about, hate speech on the platform following Musk’s takeover of Twitter in October 2022. X has blamed CCDH’s reports, which showcase the prevalence of hate speech on the platform, for amplifying brand safety concerns and driving advertisers away from the site. In the suit, X claimed that it had suffered tens of millions of dollars in damages from CCDH’s publications. CCDH is an international non-profit with offices in the UK and US. Because of its potential to destroy the watchdog group, the case has been widely viewed as a bellwether for research and accountability on X as Musk has welcomed back prominent white supremacists and others to the platform who had previously been suspended when the platform was still a publicly-traded company called Twitter. In December, for example, Musk restored the X account of conspiracy theorist Alex Jones, who lost a $1.5 billion judgement for spreading false theories about a school shooting in Newtown, Connecticut, that killed 20 children and six educators. The judge’s ruling Monday also illustrated the limits of Musk’s claim to be a “free-speech absolutist.” On Monday, Breyer wrote that CCDH’s writing about X “unquestionably constitutes” an exercise of the group’s free speech rights and that the group “makes a compelling case” that its data scraping from X “was newsgathering in furtherance of CCDH’s protected rights.” He also said he was concerned about X litigating in bad faith and denied the company an opportunity to amend and refile its breach of contract claim. “The Court is concerned that X Corp’s desire to amend its breach of contract claim has a dilatory motive — forcing CCDH to spend more time and money defending itself before it can hope to get out from under this potentially ruinous litigation,” he wrote. He added it would be “wrong” to let X amend its suit “when the damages it now alleges, and the damages it would like to allege, are so problematic, and when X Corp.’s motivation is so clear.” To fight the allegations, CCDH partly relied on a California law whose purpose is to safeguard defendants from frivolous suits intended to chill their speech. California’s law against so-called strategic lawsuits against public participation (SLAPP) is among the toughest in the nation. On Monday, Breyer wrote that California’s anti-SLAPP law forbids plaintiffs such as X from getting around the statute through “artifices of pleading” such as breach of contract claims. In a February hearing to consider CCDH’s motion to dismiss the case, Breyer mocked X’s arguments as “vapid” and said that X notably did not file a defamation claim against the nonprofit. He repeated that criticism on Monday. “If CCDH’s publications were defamatory, that would be one thing, but X Corp. has carefully avoided saying that they are,” Breyer wrote. He added that X “wishes to have it both ways,” trying to impose “punishing damages” on CCDH but without having to clear the high bar of a defamation suit. The judge’s dismissal of the suit “sends a strong message,” said Imran Ahmed, CCDH’s CEO, in a message on X. “@CCDHate has won dismissal on all counts against @ElonMusk’s @X Corp’s outrageous and hypocritical SLAPP suit to silence our research,” Ahmed wrote. “This ruling sends a strong message to those who aim at intimidating and silencing independent research.” In a separate statement, Ahmed added, “We hope this landmark ruling will embolden public-interest researchers everywhere to continue, and even intensify, their vital work of holding social media companies accountable for the hate and disinformation they host and the harm they cause.” X, meanwhile, said in a statement posted on the platform that it disagrees with the court’s decision and plans to appeal. “Today a federal court in San Francisco issued a decision in the case X brought against the Center for Countering Digital Hate for illegally obtaining platform data to create misleading research,” the company said in a post. “X disagrees with the court’s decision and plans to appeal.”",CNN,25/03/2024,"['A federal judge on Monday threw out a lawsuit by Elon Musk’s X that had targeted a watchdog group for its critical reports about hate speech on the social media platform.', 'In a blistering 52-pageorder, the judge blasted X’s case as plainly punitive rather than about protecting the platform’s security and legal rights.', '“Sometimes it is unclear what is driving a litigation,” wrote District Judge Charles Breyer, of the US District Court for the Northern District of California, in the order’s opening lines. “', 'Other times, a complaint is so unabashedly and vociferously about one thing that there can be no mistaking that purpose.”', '“This case represents the latter circumstance,” Breyer continued. “', 'This case is about punishing the Defendants for their speech.”', 'X’s lawsuit had accused the Center for Countering Digital Hate (CCDH) of violating the company’s terms of service when it studied, and then wrote about, hate speech on the platform following Musk’s takeover of Twitter in October 2022.', 'X has blamed CCDH’s reports, which showcase the prevalence of hate speech on the platform, for amplifying brand safety concerns and driving advertisers away from the site.', 'In the suit, X claimed that it had suffered tens of millions of dollars in damages from CCDH’s publications.', 'CCDH is an international non-profit with offices in the UK and US.', 'Because of its potential to destroy the watchdog group, the case has been widely viewed as a bellwether for research and accountability on X as Musk has welcomed back prominent white supremacists and others to the platform who had previously been suspended when the platform was still a publicly-traded company called Twitter.', 'In December, for example, Musk restored the X account of conspiracy theorist Alex Jones, who lost a $1.5 billion judgement for spreading false theories about a school shooting in Newtown, Connecticut, that killed 20 children and six educators.', 'The judge’s ruling Monday also illustrated the limits of Musk’s claim to be a “free-speech absolutist.”', 'On Monday,Breyer wrote that CCDH’s writing about X “unquestionably constitutes” an exercise of the group’s free speech rights and that the group “makes a compelling case” that its data scraping from X “was newsgathering in furtherance of CCDH’s protected rights.”', 'He also said he was concerned about X litigating in bad faithand denied the company an opportunity to amend and refile its breach of contract claim.', '“The Court is concerned that X Corp’s desire to amend its breach of contract claim has a dilatory motive — forcing CCDH to spend more time and money defending itself before it can hope to get out from under this potentially ruinous litigation,” he wrote.', 'He added it would be “wrong” to let X amend its suit “when the damages it now alleges, and the damages it would like to allege, are so problematic, and when X Corp.’s motivation is so clear.”', 'To fight the allegations, CCDH partly relied on a California law whose purpose is to safeguard defendants from frivolous suits intended to chill their speech.', 'California’s law against so-called strategic lawsuits against public participation (SLAPP) is among the toughest in the nation.', 'On Monday, Breyer wrote that California’s anti-SLAPP law forbids plaintiffs such as X from getting around the statute through “artifices of pleading” such as breach of contract claims.', 'In a February hearing to consider CCDH’s motion to dismiss the case, Breyer mocked X’s arguments as “vapid” and said that X notably did not file a defamation claim against the nonprofit.', 'He repeated that criticism on Monday.', '“If CCDH’s publications were defamatory, that would be one thing, but X Corp. has carefully avoided saying that they are,” Breyer wrote.', 'He added that X “wishes to have it both ways,” trying to impose “punishing damages” on CCDH but without having to clear the high bar of a defamation suit.', 'The judge’s dismissal of the suit “sends a strong message,” said Imran Ahmed, CCDH’s CEO, in amessage on X. “@CCDHate has won dismissal on all counts against @ElonMusk’s @X Corp’s outrageous and hypocritical SLAPP suit to silence our research,” Ahmed wrote. “', 'This ruling sends a strong message to those who aim at intimidating and silencing independent research.”', 'In a separate statement, Ahmed added, “We hope this landmark ruling will embolden public-interest researchers everywhere to continue, and even intensify, their vital work of holding social media companies accountable for the hate and disinformation they host and the harm they cause.”', 'X, meanwhile, said in a statement posted on the platform that it disagrees with the court’s decision and plans to appeal.', '“Today a federal court in San Francisco issued a decision in the case X brought against the Center for Countering Digital Hate for illegally obtaining platform data to create misleading research,” the company said in a post. “', 'X disagrees with the court’s decision and plans to appeal.”']",-0.3197338786203699,"On Monday,Breyer wrote that CCDH’s writing about X “unquestionably constitutes” an exercise of the group’s free speech rights and that the group “makes a compelling case” that its data scraping from X “was newsgathering in furtherance of CCDH’s protected rights.”","X’s lawsuit had accused the Center for Countering Digital Hate (CCDH) of violating the company’s terms of service when it studied, and then wrote about, hate speech on the platform following Musk’s takeover of Twitter in October 2022." Homebuilder sentiment turns positive for the first time since July,https://www.cnbc.com/2024/03/18/homebuilder-sentiment-turns-positive-for-the-first-time-since-july.html,2024-03-18T15:15:24+0000,"U.S. homebuilders are feeling more confident about their businesses than they have since last summer, as they see better demand despite stubbornly high mortgage rates.Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells Fargo Housing Market Index. The reading gained for the fourth-straight month, hitting its highest level since July.Sentiment also moved into positive territory for the first time since July. Fifty is the line between positive and negative sentiment.Mortgage rates came down in the first week of March, only to shoot back up in the second week. The average rate on the popular 30-year fixed mortgage has hovered around 7% since early February.""Buyer demand remains brisk and we expect more consumers to jump off the sidelines and into the marketplace if mortgage rates continue to fall later this year,"" said NAHB Chairman Carl Harris, a custom homebuilder from Wichita, Kansas. ""But even though there is strong pent-up demand, builders continue to face several supply-side challenges, including a scarcity of buildable lots and skilled labor, and new restrictive codes that continue to increase the cost of building homes.""Of the index's three components, current sales conditions rose 4 points to 56, expectations in the next six months rose 2 points to 62 and buyer traffic increased 2 points to 34. Regionally, on a three-month moving average, sentiment rose most in the Midwest and West. The report also noted that fewer builders are lowering home prices to attract buyers. In March, 24% of builders reported cutting home prices, down from 36% in December 2023 and the lowest share since July.The average price cut remains steady at around 6%. Builders are still using sales incentives such as buying down mortgage rates.""With the Federal Reserve expected to announce future rate cuts in the second half of 2024, lower financing costs will draw many prospective buyers into the market,"" said Robert Dietz, chief economist for the NAHB. ""However, as home building activity picks up, builders will likely grapple with rising material prices, particularly for lumber.""",CNBC,18/03/2024,"['U.S. homebuilders are feeling more confident about their businesses than they have since last summer, as they see better demand despite stubbornly high mortgage rates.', 'Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells Fargo Housing Market Index.', 'The reading gained for the fourth-straight month, hitting its highest level since July.', 'Sentiment also moved into positive territory for the first time since July.', 'Fifty is the line between positive and negative sentiment.', 'Mortgage rates came down in the first week of March, only to shoot back up in the second week.', 'The average rate on the popular 30-year fixed mortgage has hovered around 7% since early February.', '""Buyer demand remains brisk and we expect more consumers to jump off the sidelines and into the marketplace if mortgage rates continue to fall later this year,"" said NAHB Chairman Carl Harris, a custom homebuilder from Wichita, Kansas. ""', 'But even though there is strong pent-up demand, builders continue to face several supply-side challenges, including a scarcity of buildable lots and skilled labor, and new restrictive codes that continue to increase the cost of building homes.', '""Of the index\'s three components, current sales conditions rose 4 points to 56, expectations in the next six months rose 2 points to 62 andbuyer traffic increased 2 points to 34.Regionally, on a three-month moving average, sentiment rose most in the Midwest and West.', 'The report also noted that fewer builders are lowering home prices to attract buyers.', 'In March, 24% of builders reported cutting home prices, down from 36% in December 2023 and the lowest share since July.', 'The average price cut remains steady at around 6%.', 'Builders are still using sales incentives such as buying down mortgage rates.', '""With the Federal Reserve expected to announce future rate cuts in the second half of 2024, lower financing costs will draw many prospective buyers into the market,"" said Robert Dietz, chief economist for the NAHB. ""', 'However, as home building activity picks up, builders will likely grapple with rising material prices, particularly for lumber.""']",0.17092728458741308,"U.S. homebuilders are feeling more confident about their businesses than they have since last summer, as they see better demand despite stubbornly high mortgage rates.","""With the Federal Reserve expected to announce future rate cuts in the second half of 2024, lower financing costs will draw many prospective buyers into the market,"" said Robert Dietz, chief economist for the NAHB. """ Canada's maple syrup reserve hits 16-year low,https://www.bbc.co.uk/news/world-us-canada-68657703,2024-03-25T17:55:45.000Z,"Canada's maple syrup reserve - the world's only - has reached a 16-year low, raising questions about the future of a globally loved sweet staple in the face of climate change. The reserve, located in Quebec, is designed to hold 133 million pounds of maple syrup at any given year. But in 2023, the supply fell to 6.9 million pounds (3.1 million kg). Experts link the shortage to both a rise in demand and warmer weather, which has disrupted production. But they say that this will not affect the availability or price of maple syrup to consumers - at least for now. ""The strategic reserve is holding its lowest amount of maple syrup since 2008,"" Simon Doré-Ouellet, the deputy director general of the Quebec Maple Syrup Producers, told the BBC. ""But we do not foresee any supply issues in the near future."" Canada's billion-dollar maple syrup industry accounts for 75% of the world's entire maple syrup production. According to national data, a majority of that - around 90% - is produced in the province of Quebec, where the world's sole strategic reserve of maple syrup was set up 24 years ago. The amount of maple syrup in the national reserve - stored in tens of thousands of barrels in several warehouses across Quebec - has dwindled significantly since 2020. That year, the reserve had more than 103 million pounds of the sticky product. Now, the amount in the reserve is only 7% of what it was four years ago. Part of the reason why, Mr Doré-Ouellet said, is because of poor harvest seasons over the last few years. Maple syrup production, which is typically done between early March and late April, relies heavily on a delicate balance of below freezing overnight temperatures and warmer daytime temperatures above 0C (32F). The cold temperatures help the maple tree absorb water from the soil, while the warmer weather during the day creates pressure that pushes water down to the bottom of the tree, making it easier to harvest the sap. In 2021 and 2023, warmer spring temperatures felt across the country resulted in a reduction in maple syrup production, which fell 21% in 2021 from the year prior. This reduction, however, came on the heels of two consecutive record years of production, in 2020 and 2019. Mr Doré-Ouellet said that because of the harvest unpredictability, fluctuations in the reserve's supply are not unusual. ""The strategic reserve was put in place to stabilise supply - which is highly weather dependent - for buyers,"" he said. ""In the last four years, that is exactly what it has done."" Coupled with the poor harvest years is a rising demand for for the golden product. In 2021, Canada exported 161 million pounds of maple syrup to 71 countries worldwide - an increase of more than 19% from the year before. Mr Doré-Ouellet said the growth in demand is tied to Quebec's efforts to promote Canadian maple syrup and its benefits to other countries, primarily the US, UK, Germany, Australia and Japan. With the reserve supply dwindling in the face of growing demand, many are keen to see how the upcoming harvest season unfolds. Canada is coming out of one of its warmest winters on record. Temperatures in December, January and February were the warmest since record-keeping began in 1948. Despite this, Mr Doré-Ouellet said there is reason to be optimistic. ""The sugaring season has come early this year and is still underway,"" he said. ""So far, production has been plentiful and the weather forecasts are encouraging for the next few weeks all across Quebec."" Because the reserve stabilises the maple syrup market for producers and buyers, he said it is important that it be built back up. Efforts to do so are already underway, including the release of 14 million new taps to producers over the last three years to bolster harvesting efforts, he said. Mr Doré-Ouellet did note that replenishing Canada's maple syrup supply is a ""multi-year process"", adding that he believes the outcome of the 2024 season will not ""make or break"" the future of Canada's most iconic export. ",BBC,25/03/2024,"[""Canada's maple syrup reserve - the world's only - has reached a 16-year low, raising questions about the future of a globally loved sweet staple in the face of climate change."", 'The reserve, located in Quebec, is designed to hold 133 million pounds of maple syrup at any given year.', 'But in 2023, the supply fell to 6.9 million pounds (3.1 million kg).', 'Experts link the shortage to both a rise in demand and warmer weather, which has disrupted production.', 'But they say that this will not affect the availability or price of maple syrup to consumers - at least for now. ""', 'The strategic reserve is holding its lowest amount of maple syrup since 2008,"" Simon Doré-Ouellet, the deputy director general of the Quebec Maple Syrup Producers, told the BBC. ""', 'But we do not foresee any supply issues in the near future.""', ""Canada's billion-dollar maple syrup industry accounts for 75% of the world's entire maple syrup production."", ""According to national data, a majority of that - around 90% - is produced in the province of Quebec, where the world's sole strategic reserve of maple syrup was set up 24 years ago."", 'The amount of maple syrup in the national reserve - stored in tens of thousands of barrels in several warehouses across Quebec - has dwindled significantly since 2020.', 'That year, the reserve had more than 103 million pounds of the sticky product.', 'Now, the amount in the reserve is only 7% of what it was four years ago.', 'Part of the reason why, Mr Doré-Ouellet said, is because of poor harvest seasons over the last few years.', 'Maple syrup production, which is typically done between early March and late April, relies heavily on a delicate balance of below freezing overnight temperatures and warmer daytime temperatures above 0C (32F).', 'The cold temperatures help the maple tree absorb water from the soil, while the warmer weather during the day creates pressure that pushes water down to the bottom of the tree, making it easier to harvest the sap.', 'In 2021 and 2023, warmer spring temperatures felt across the country resulted in a reduction in maple syrup production, which fell 21% in 2021 from the year prior.', 'This reduction, however, came on the heels of two consecutive record years of production, in 2020 and 2019.', 'Mr Doré-Ouellet said that because of the harvest unpredictability, fluctuations in the reserve\'s supply are not unusual. ""', 'The strategic reserve was put in place to stabilise supply - which is highly weather dependent - for buyers,"" he said. ""', 'In the last four years, that is exactly what it has done.""', 'Coupled with the poor harvest years is a rising demand for for the golden product.', 'In 2021, Canada exported 161 million pounds of maple syrup to 71 countries worldwide - an increase of more than 19% from the year before.', ""Mr Doré-Ouellet said the growth in demand is tied to Quebec's efforts to promote Canadian maple syrup and its benefits to other countries, primarily the US, UK, Germany, Australia and Japan."", 'With the reserve supply dwindling in the face of growing demand, many are keen to see how the upcoming harvest season unfolds.', 'Canada is coming out of one of its warmest winters on record.', 'Temperatures in December, January and February were the warmest since record-keeping began in 1948.', 'Despite this, Mr Doré-Ouellet said there is reason to be optimistic. ""', 'The sugaring season has come early this year and is still underway,"" he said. ""', 'So far, production has been plentiful and the weather forecasts are encouraging for the next few weeks all across Quebec.""', 'Because the reserve stabilises the maple syrup market for producers and buyers, he said it is important that it be built back up.', 'Efforts to do so are already underway, including the release of 14 million new taps to producers over the last three years to bolster harvesting efforts, he said.', 'Mr Doré-Ouellet did note that replenishing Canada\'s maple syrup supply is a ""multi-year process"", adding that he believes the outcome of the 2024 season will not ""make or break"" the future of Canada\'s most iconic export.']",0.12085186853196417,"The cold temperatures help the maple tree absorb water from the soil, while the warmer weather during the day creates pressure that pushes water down to the bottom of the tree, making it easier to harvest the sap.",Coupled with the poor harvest years is a rising demand for for the golden product. Medicare can now cover certain weight loss drugs in a big step for patients,https://www.cnbc.com/2024/03/21/medicare-can-cover-weight-loss-drugs-if-used-for-added-health-benefit.html,2024-03-21T19:51:11+0000,"In this articleMedicare can start covering certain weight loss drugs for the first time — as long as they are approved for an added health benefit, the Centers for Medicare and Medicaid Services said Thursday.That opens the door for broader coverage of some highly popular weight loss medications such as Novo Nordisk's Wegovy, which is now approved in the U.S. for heart health. Those treatments have skyrocketed in demand over the past year despite their hefty price tags and spotty insurance coverage.Under the new CMS guidance, Medicare Part D plans can cover obesity treatments that receive Food and Drug Administration approval for an additional health benefit. Medicare prescription drug plans administered by private insurers, known as Part D, currently cannot cover those drugs for weight loss alone.The agency's guidance means Medicare patients could soon get coverage for Wegovy, as long as they have obesity and a history of heart disease and are prescribed the treatment to reduce their risk of heart attacks and strokes. Earlier this month, the Food and Drug Administration approved Wegovy for that purpose.The guidance also will open the door to future coverage of other weight loss medications, many of which are being tested for additional health conditions.Drugmakers such as Novo Nordisk, which also makes the diabetes drug Ozempic, and Eli Lilly are studying their weight loss medicines as treatments for fatty liver disease, chronic kidney disease, sleep apnea and more. To be covered, those drugs would need to return late-stage trial results and then be submitted for FDA approval for those uses.Wegovy is part of a class of drugs called GLP-1s which mimic a hormone produced in the gut to suppress a person's appetite and help regulate blood sugar. Coverage for those treatments when used for weight loss is a mixed bag. Roughly 110 million American adults are living with obesity and approximately 50 million of them have insurance coverage for weight loss drugs, a spokesperson for Novo Nordisk said in a statement last week.Some of the nation's largest insurers, such as CVS Health's Aetna, also cover the treatments.But many employers don't. An October survey of more than 200 companies by the International Foundation of Employee Benefit Plans, or IFEBP, found only 27% provided coverage for GLP-1s for weight loss, compared with the 76% that covered those drugs for diabetes. Notably, 13% of employers indicated they were considering coverage for weight loss.A provision of a 2003 law established that Medicare Part D plans can't cover drugs used for weight loss, but the program does cover obesity screening, behavioral counseling and bariatric surgery. A group of bipartisan lawmakers have introduced legislation that would eliminate the provision, but its fate in Congress is far from certain.A CMS spokesperson told CNBC last week that Medicaid programs would be required to cover Wegovy specifically for its new cardiovascular use. By law, Medicaid must cover nearly all FDA-approved medications, but weight loss treatments are among a small group of drugs that can be excluded from coverage. Around 1 in 5 state Medicaid programs currently cover GLP-1 drugs for weight loss.",CNBC,21/03/2024,"['In this articleMedicare can start covering certain weight loss drugs for the first time — as long as they are approved for an added health benefit, the Centers for Medicare and Medicaid Services said Thursday.', ""That opens the door for broader coverage of some highly popular weight loss medications such as Novo Nordisk's Wegovy, which is now approved in the U.S. for heart health."", 'Those treatments have skyrocketed in demand over the past year despite their hefty price tags and spotty insurance coverage.', 'Under the new CMS guidance, Medicare Part D plans can cover obesity treatments that receive Food and Drug Administration approval for an additional health benefit.', 'Medicare prescription drug plans administered by private insurers, known as Part D, currently cannot cover those drugs for weight loss alone.', ""The agency's guidance means Medicare patients could soon get coverage for Wegovy, as long as they have obesity and a history of heart disease and are prescribed the treatment to reduce their risk of heart attacks and strokes."", 'Earlier this month, the Food and Drug Administration approved Wegovy for that purpose.', 'The guidance also will open the door to future coverage of other weight loss medications, many of which are being tested for additional health conditions.', 'Drugmakers such as Novo Nordisk, which also makes the diabetes drug Ozempic, and Eli Lilly are studying their weight loss medicines as treatments for fatty liver disease, chronic kidney disease, sleep apnea and more.', 'To be covered, those drugs would need to return late-stage trial results and then be submitted for FDA approval for those uses.', ""Wegovy is part of a class of drugs called GLP-1s which mimic a hormone produced in the gut to suppress a person's appetite and help regulate blood sugar."", 'Coverage for those treatments when used for weight loss is a mixed bag.', 'Roughly 110 million American adults are living with obesity and approximately 50 million of them have insurance coverage for weight loss drugs, a spokesperson for Novo Nordisk said in a statement last week.', ""Some of the nation's largest insurers, such asCVS Health'sAetna, also cover the treatments."", ""But many employers don't."", 'An Octobersurveyof more than 200 companies by the International Foundation of Employee Benefit Plans, or IFEBP, found only 27% provided coverage for GLP-1s for weight loss, compared with the 76% that covered those drugs for diabetes.', 'Notably, 13% of employers indicated they were considering coverage for weight loss.', ""A provision of a2003 lawestablished that Medicare Part D plans can't cover drugs used for weight loss, but the program does cover obesity screening, behavioral counseling and bariatric surgery."", 'A group of bipartisan lawmakers have introducedlegislationthat would eliminate the provision, but its fate in Congress is far from certain.', 'A CMS spokesperson told CNBC last week that Medicaid programs would be required to cover Wegovy specifically for its new cardiovascular use.', 'Bylaw, Medicaid must cover nearly all FDA-approved medications, but weight loss treatments are among a small group of drugs that can be excluded from coverage.', 'Around 1 in 5 state Medicaid programscurrently coverGLP-1 drugs for weight loss.']",-0.007444139961440777,"Under the new CMS guidance, Medicare Part D plans can cover obesity treatments that receive Food and Drug Administration approval for an additional health benefit.","Bylaw, Medicaid must cover nearly all FDA-approved medications, but weight loss treatments are among a small group of drugs that can be excluded from coverage." More employers now say they’re willing to hire workers without a college degree. But is that playing out?,https://edition.cnn.com/2024/03/08/success/no-college-degree-options-better-jobs/index.html," Published 12:11 PM EST, Fri March 8, 2024 ","For decades, not having a college degree has often been a barrier for workers seeking a higher-level, better-paying job. But more employers are now saying they’re willing to hire them. College degrees were used by companies as a proxy for skills and competence when evaluating potential hires — making it very difficult for lower-wage, non-degreed workers even to be considered. A majority of US workers have had to contend with that barrier. Only 37.7% of Americans ages 25 and up had a bachelor’s degree in 2022, according to the US Census Bureau. But employers are now — at least publicly — becoming more open to the idea of skills-based hiring, which focuses on a job candidates’ competencies and capacity to learn new skills rather than on their educational background. Why the change of heart? There are several factors. But lurking over all of them is a demographic reality: The falling US birth rate will produce fewer workers in the years ahead to replace the number of workers retiring. Additionally, employers are increasingly aware that the skills needed to do many jobs don’t necessarily require a four-year degree, and that competent workers can be trained in needed skills as they arise. President Joe Biden, in his State of the Union speech Thursday night, acknowledged the need for skills-based hiring more than once, noting that “private companies are now investing billions of dollars to build new chip factories here in America — creating tens of thousands of jobs, many of them paying over $100,000 a year, and don’t require a college degree.” He also said he is “connecting businesses and high schools so students get hands-on experience and a path to a good-paying job, whether or not they go to college.” At a Fortune conference in October last year, Ken Frazier, the former CEO of Merck, noted that roughly three-quarters of Black adults do not have college degrees, yet the vast majority of openings at leading US companies required college degrees “for almost any job.” What’s more, since George Floyd’s murder in 2020, there has been a push to improve diversity and equity in company workforces. That means the lack of college degrees can’t be ignored, since Blacks and Hispanics are least likely to have a bachelor’s degree. In 2022, only 27.6% of Black adults and 20.9% of Hispanics had one, compared to nearly 41.8% of non-Hispanic White population, according to Census data. After Floyd’s murder, Frazier co-founded the group OneTen. Its goal is to help non-degreed Black workers find better jobs with family-sustaining pay, as defined by the MIT Living Wage Calculator. OneTen’s mission has since grown to include all workers without four-year degrees, and the group has pulled together a coalition of more than 70 leading US corporations from Accenture to Yum! Brands and talent development firms that support OneTen’s mission of closing the opportunity gap for those without degrees. So far, the group has played a matchmaking role for employers in the hiring and promotion of 108,000 non-degreed workers, said OneTen CEO Debbie Dyson at the same Fortune event. She also noted its career marketplace platform has 23,000 profiles of non-degreed job seekers and those seeking training, which is a talent pool that employers can search. OneTen’s hand in more than 100,000 job advancements is notable, but it is still well below the group’s goal of 1 million hires and promotions of non-degreed workers within 10 years. That may reflect what one recent study found: Not all employers who talk about skills-based hiring and remove degree requirements from job ads are actually hiring candidates without degrees. “[F]or all its fanfare, the increased opportunity promised by skills-based hiring has borne out in not even 1 in 700 hires last year,” wrote the authors of a report from Harvard Business School and the Burning Glass Institute. Directionally, however, the signs are encouraging. The report’s authors note that the 37% of companies in its sample that did follow through on their skills-based hiring commitment are already seeing benefits. “[D]espite the limited progress to date, our analysis shows that, for those who embrace it, skills-based hiring … yields tangible, measurable value. Skills-based hiring boosts retention among non-degreed workers hired into roles that formerly asked for degrees,” they said. Candidates hired into those roles received a 25% pay increase on average, the researchers added. “If the arc of corporate practice bends toward profitability, the win-win that skills-based hiring represents is an opportunity firms are remiss to ignore,” the authors wrote. In the meantime, the Federal Reserve banks of Philadelphia and Cleveland created an interactive tool called the Occupational Mobility Explorer that was released at the end of 2020. The tool is aimed at lower-wage workers without college degrees. It helps them identify better-paying occupations that have overlap with the skills required in their current positions. For example: A cashier in the Cincinnati metro area might consider a job first as a customer service representative, then move on to the role of police or fire station dispatcher and later transition to becoming a human resource specialist or legal assistant. The strong skills overlap between cashiers and customer service reps include customer service, communication skills and retail industry knowledge. From there, the skills commonly required of customer service reps and dispatchers include customer service, communication and problem solving. And so on. With each move, the former cashier’s pay could increase considerably. (The pay data in the tool still reflects 2020 pay levels, but it will be updated later this year, according to a spokesperson for the Philadelphia Fed.) The tool can be an eye-opener not just for job seekers but also employers when it comes to seeing what skills non-degreed workers from various occupations bring to the table. “It’s a good illustration of how skills gained in prior jobs can be used to move up the career ladder,” said Keith Wardrip, senior community development research adviser at the Federal Reserve Bank of Philadelphia.",CNN,08/03/2024,"['For decades, not having a college degree has often been a barrier for workers seeking a higher-level, better-paying job.', 'But more employers are now saying they’re willing to hire them.', 'College degrees were used by companies as a proxy for skills and competence when evaluating potential hires — making it very difficult for lower-wage, non-degreed workers even to be considered.', 'A majority of US workers have had to contend with that barrier.', 'Only 37.7% of Americans ages 25 and up had a bachelor’s degree in 2022, according to the US Census Bureau.', 'But employers are now — at least publicly — becoming more open to the idea of skills-based hiring, which focuses on a job candidates’ competencies and capacity to learn new skills rather than on their educational background.', 'Why the change of heart?', 'There are several factors.', 'But lurking over all of them is a demographic reality: The falling US birth rate will produce fewer workers in the years ahead to replace the number of workers retiring.', 'Additionally, employers are increasingly aware that the skills needed to do many jobs don’t necessarily require a four-year degree, and that competent workers can be trained in needed skills as they arise.', 'President Joe Biden, in his State of the Union speech Thursday night, acknowledged the need for skills-based hiring more than once, noting that “private companies are now investing billions of dollars to build new chip factories here in America — creating tens of thousands of jobs, many of them paying over $100,000 a year, and don’t require a college degree.”', 'He also said he is “connectingbusinesses and high schoolsso students get hands-on experienceand a path to a good-paying job,whether or notthey go to college.”', 'At a Fortune conference in October last year, Ken Frazier, the former CEO of Merck, noted that roughly three-quarters of Black adults do not have college degrees, yet the vast majority of openings at leading US companies required college degrees “for almost any job.”', 'What’s more, since George Floyd’s murder in 2020, there has been a push to improve diversity and equity in company workforces.', 'That means the lack of college degrees can’t be ignored, since Blacks and Hispanics are least likely to have a bachelor’s degree.', 'In 2022, only 27.6% of Black adults and 20.9% of Hispanics had one, compared to nearly 41.8% of non-Hispanic White population, according to Census data.', 'After Floyd’s murder, Frazier co-founded the group OneTen.', 'Its goal is to help non-degreed Black workers find better jobs with family-sustaining pay, as defined by the MIT Living Wage Calculator.', 'OneTen’s mission has since grown to include all workers without four-year degrees, and the group has pulled together a coalition of more than 70 leading US corporations from Accenture to Yum!', 'Brands and talent development firms that support OneTen’s mission of closing the opportunity gap for those without degrees.', 'So far, the group has played a matchmaking role for employers in the hiring and promotion of 108,000 non-degreed workers, said OneTen CEO Debbie Dyson at the same Fortune event.', 'She also noted its career marketplace platform has 23,000 profiles of non-degreed job seekers and those seeking training, which is a talent pool that employers can search.', 'OneTen’s hand in more than 100,000 job advancements is notable, but it is still well below the group’s goal of 1 million hires and promotions of non-degreed workers within 10 years.', 'That may reflect what one recent study found: Not all employers who talk about skills-based hiring and remove degree requirements from job ads are actually hiring candidates without degrees.', '“[F]or all its fanfare, the increased opportunity promised by skills-based hiring has borne out in not even 1 in 700 hires last year,” wrote the authors of a report from Harvard Business School and the Burning Glass Institute.', 'Directionally, however, the signs are encouraging.', 'The report’s authors note that the 37% of companies in its sample that did follow through on their skills-based hiring commitment are already seeing benefits.', '“[D]espite the limited progress to date, our analysis shows that, for those who embrace it, skills-based hiring … yields tangible, measurable value.', 'Skills-based hiring boosts retention among non-degreed workers hired into roles that formerly asked for degrees,” they said.', 'Candidates hired into those roles received a 25% pay increase on average, the researchers added.', '“If the arc of corporate practice bends toward profitability, the win-win that skills-based hiring represents is an opportunity firms are remiss to ignore,” the authors wrote.', 'In the meantime, the Federal Reserve banks of Philadelphia and Cleveland created an interactive tool called the Occupational Mobility Explorer that was released at the end of 2020.', 'The tool is aimed at lower-wage workers without college degrees.', 'It helps them identify better-paying occupations that have overlap with the skills required in their current positions.', 'For example: A cashier in the Cincinnati metro area might consider a job first as a customer service representative, then move on to the role of police or fire station dispatcher and later transition to becoming a human resource specialist or legal assistant.', 'The strong skills overlap between cashiers and customer service reps include customer service, communication skills and retail industry knowledge.', 'From there, the skills commonly required of customer service reps and dispatchers include customer service, communication and problem solving.', 'And so on.', 'With each move, the former cashier’s pay could increase considerably. (', 'The pay data in the tool still reflects 2020 pay levels, but it will be updated later this year, according to a spokesperson for the Philadelphia Fed.)', 'The tool can be an eye-opener not just for job seekers but also employers when it comes to seeing what skills non-degreed workers from various occupations bring to the table.', '“It’s a good illustration of how skills gained in prior jobs can be used to move up the career ladder,” said Keith Wardrip, senior community development research adviser at the Federal Reserve Bank of Philadelphia.']",0.1698387786572772,"“If the arc of corporate practice bends toward profitability, the win-win that skills-based hiring represents is an opportunity firms are remiss to ignore,” the authors wrote.","After Floyd’s murder, Frazier co-founded the group OneTen." Can Sweden keep its edge in the music industry?,https://www.bbc.co.uk/news/business-68499740,2024-03-15T00:17:40.000Z,"From Abba to Spotify, Avicii to Soundcloud, Stockholm has spawned both some of the world's most successful musicians and music tech companies. Sweden has won the Eurovision Song Contest a record seven times, a gong it holds jointly with Ireland - and Malmö will host this year's competition. That legacy is evident moments after stepping off the underground at Stockholm's central station. Sergels torg, the capital's main square paved in black and white triangles, is home to the Avicii Experience, an interactive museum celebrating the late Tim Bergling. He grew up here and became one of the world's bestselling DJs under his artist name Avicii. On the fifteenth floor sits Per Sundin, chief executive of Pophouse Entertainment which runs the museum. The company is focussed on creating the ""next generation"" of high-tech entertainment experiences, with a portfolio that also includes the Abba Voyage stage show in London, performed by avatar versions of Sweden's biggest supergroup. It is developing plans for a new show in 2027 involving digital versions of the US rock band Kiss, after testing the technology at the band's final real-life gig last year. ""What's the similarity between Kiss and Abba?,"" asks Mr Sundin rhetorically from his private office with floor-to-ceiling windows. ""They really have super fans, both artists, and they have a wide catalogue, and they have global presence all over the world."" Despite selling more than two million tickets for Abba Voyage since May 2022, he says Pophouse Entertainment still hasn't broken even on its investments, which include the technology (created in collaboration with US filmmaker George Lucas's visual effects company Industrial Light and Magic), and the event's bespoke east London arena. But Mr Sundin - a former Universal Music executive - says he has faith in the concept, and hopes it can be adapted for a handful of other big-name legacy artists in future. ""This is for those who can't tour anymore, can't really make themselves as good [as they were]... or [want to] do different kinds of things with their music legacy,"" says Mr Sundin. Pophouse's innovations follow a string of other music tech success stories emerging from Stockholm, a capital with a population of just one million. Daniel Ek's Spotify launched here in 2008, while Soundcloud was founded a year earlier by two students from Stockholm School of Economics, Alex Ljung and Eric Wahlforss, who later relocated the business to Berlin. Other companies who've made a global impact include Soundtrack Your Brand, which provides a subscription service enabling businesses to play commercial music without licensing issues, and Epidemic Sound, a platform for rights-free music for content creators, recently valued at 12.5bn kronor (£950m; $1.2bn), according to Swedish business news site Dagens Industri. ""We all know there must be something in the water,"" laughs Sarah Herlin, co-founder of Stockholm Music City, an organisation that encourages collaboration between the capital's music and tech sectors, and provides support to start-ups. On a more serious note, she argues that there are several key ingredients in Stockholm's recipe for music tech success. These include Sweden's historically strong music scene, with artists like Roxette, The Cardigans and legendary pop producer/songwriter Max Martin cementing the reputation set by Abba, and giving credibility to Swedish tech companies with a music-related focus. Plus, the country has long had a tech-savvy population, with many of today's entrepreneurs growing up in the 1990s when there were tax cuts on home hardware in Sweden, followed by an early adoption of broadband. The business culture in Sweden, which tends to promote collaboration over competition has also created a supportive ecosystem, argues Herlin. ""If you realise someone else is doing the same thing, you contact each other and see how can we do this together,"" she says. ""That often means that they all succeed instead of nobody succeeding."" More technology of business One recent example is Elk, a company that provides a remote, collaborative recording platform for artists, which was founded after two local businesses figured out they were developing similar software tools. Ms Herlin has just finished a meeting at The Node, a physical recording studio hub which opened last year on the same square as the Avicii museum, and includes some of the late DJ's equipment. ""Where you have producers, you will have music tech start-ups, and you will have investors coming to check it out,"" she says. Late on a Monday afternoon the neon-pink lit cafe area is largely empty, save for several nonchalant staff. But Ms Herlin says the space is creating a global buzz. ""We've noticed already people pop up here from New York and from London to check it out."" Seedtable, a platform that tracks the fastest growing companies in Europe lists 69 music and and audio start-ups to watch and work for in 2024, with 13 of them based in Stockholm, more than any other city in relation to population size. A few blocks away from The Node, one of them, Snafu Records, is based at a shared office space with a parquet floor and a cocktail bar. Described by its co-founder and chief executive Ankit Desai as ""the first AI enabled music label in the world"", the start-up has developed an algorithm which trawls the internet to pinpoint new artists it believes can make an impact. ""We try to find those diamonds in the rough… those undervalued artists and give them a platform to shine,"" says Mr Desai. Since launching in 2019, the company has signed more than 150 artists. Snafu Records takes a 50% cut of all its artists earnings, although Desai says most traditional labels take up to 80%. The start-up's investors include Agnetha Fältskog (Agnetha from Abba), Finnish gaming entrepreneur Mikko Kodisoja, and Pophouse Entertainment, and it raised $7m (£5.5m) in its second funding round in late 2023. But Mr Desai admits that raising capital was ""a lot harder"" than when the label first launched in 2019, and the company is yet to turn a profit. Emil Widhagen, a journalist for Swedish tech and start-up news site Breakit, argues many of Stockholm's music tech start-ups are facing similar challenges to Snafu Records, as a result of global economic jitters. ""People tend to move towards more safe investments in more difficult times, and music tech companies in general aren't producing profits, not even Spotify."" Indeed, Spotify - the world's biggest subscription audio streaming site - reported a loss of around €75m (£64m; $82m) in the final quarter of 2023, despite cutting around 1,500 jobs. But the company still saw a 4% increase in subscribers despite putting its prices up. Some music tech entrepreneurs argue the speed at which AI tools are growing globally is also putting pressure on Stockholm's well-oiled music tech ecosystem. ""One of the biggest challenges is to keep up with everything,"" says Emelie Olsson, chief operating officer and co-founder at Corite, a music tech start-up which uses crowdfunding to help artists gain financial backing from fans (and rewards fans if artists score a hit). ""It's really a race, I would say, with a lot of companies doing a lot of cool things at the same time."" Corite has also struggled to turn a profit, and is pinning its hopes on a new tool for artists and other content creators which is launching later this year. ""We are about to raise money again and we are definitely humble,"" says Ms Olsson. ""I think, companies have a bit more to prove a bit earlier than they had before."" ",BBC,15/03/2024,"[""From Abba to Spotify, Avicii to Soundcloud, Stockholm has spawned both some of the world's most successful musicians and music tech companies."", ""Sweden has won the Eurovision Song Contest a record seven times, a gong it holds jointly with Ireland - and Malmö will host this year's competition."", ""That legacy is evident moments after stepping off the underground at Stockholm's central station."", ""Sergels torg, the capital's main square paved in black and white triangles, is home to the Avicii Experience, an interactive museum celebrating the late Tim Bergling."", ""He grew up here and became one of the world's bestselling DJs under his artist name Avicii."", 'On the fifteenth floor sits Per Sundin, chief executive of Pophouse Entertainment which runs the museum.', 'The company is focussed on creating the ""next generation"" of high-tech entertainment experiences, with a portfolio that also includes the Abba Voyage stage show in London, performed by avatar versions of Sweden\'s biggest supergroup.', 'It is developing plans for a new show in 2027 involving digital versions of the US rock band Kiss, after testing the technology at the band\'s final real-life gig last year. ""', 'What\'s the similarity between Kiss and Abba?,""', 'asks Mr Sundin rhetorically from his private office with floor-to-ceiling windows. ""', 'They really have super fans, both artists, and they have a wide catalogue, and they have global presence all over the world.""', ""Despite selling more than two million tickets for Abba Voyage since May 2022, he says Pophouse Entertainment still hasn't broken even on its investments, which include the technology (created in collaboration with US filmmaker George Lucas's visual effects company Industrial Light and Magic), and the event's bespoke east London arena."", 'But Mr Sundin - a former Universal Music executive - says he has faith in the concept, and hopes it can be adapted for a handful of other big-name legacy artists in future. ""', 'This is for those who can\'t tour anymore, can\'t really make themselves as good [as they were]... or [want to] do different kinds of things with their music legacy,"" says Mr Sundin.', ""Pophouse's innovations follow a string of other music tech success stories emerging from Stockholm, a capital with a population of just one million."", ""Daniel Ek's Spotify launched here in 2008, while Soundcloud was founded a year earlier by two students from Stockholm School of Economics, Alex Ljung and Eric Wahlforss, who later relocated the business to Berlin."", 'Other companies who\'ve made a global impact include Soundtrack Your Brand, which provides a subscription service enabling businesses to play commercial music without licensing issues, and Epidemic Sound, a platform for rights-free music for content creators, recently valued at 12.5bn kronor (£950m; $1.2bn), according to Swedish business news site Dagens Industri. ""', 'We all know there must be something in the water,"" laughs Sarah Herlin, co-founder of Stockholm Music City, an organisation that encourages collaboration between the capital\'s music and tech sectors, and provides support to start-ups.', ""On a more serious note, she argues that there are several key ingredients in Stockholm's recipe for music tech success."", ""These include Sweden's historically strong music scene, with artists like Roxette, The Cardigans and legendary pop producer/songwriter Max Martin cementing the reputation set by Abba, and giving credibility to Swedish tech companies with a music-related focus."", ""Plus, the country has long had a tech-savvy population, with many of today's entrepreneurs growing up in the 1990s when there were tax cuts on home hardware in Sweden, followed by an early adoption of broadband."", 'The business culture in Sweden, which tends to promote collaboration over competition has also created a supportive ecosystem, argues Herlin. ""', 'If you realise someone else is doing the same thing, you contact each other and see how can we do this together,"" she says. ""', 'That often means that they all succeed instead of nobody succeeding.""', 'More technology of business One recent example is Elk, a company that provides a remote, collaborative recording platform for artists, which was founded after two local businesses figured out they were developing similar software tools.', 'Ms Herlin has just finished a meeting at The Node, a physical recording studio hub which opened last year on the same square as the Avicii museum, and includes some of the late DJ\'s equipment. ""', 'Where you have producers, you will have music tech start-ups, and you will have investors coming to check it out,"" she says.', 'Late on a Monday afternoon the neon-pink lit cafe area is largely empty, save for several nonchalant staff.', 'But Ms Herlin says the space is creating a global buzz. ""', 'We\'ve noticed already people pop up here from New York and from London to check it out.""', 'Seedtable, a platform that tracks the fastest growing companies in Europe lists 69 music and and audio start-ups to watch and work for in 2024, with 13 of them based in Stockholm, more than any other city in relation to population size.', 'A few blocks away from The Node, one of them, Snafu Records, is based at a shared office space with a parquet floor and a cocktail bar.', 'Described by its co-founder and chief executive Ankit Desai as ""the first AI enabled music label in the world"", the start-up has developed an algorithm which trawls the internet to pinpoint new artists it believes can make an impact. ""', 'We try to find those diamonds in the rough… those undervalued artists and give them a platform to shine,"" says Mr Desai.', 'Since launching in 2019, the company has signed more than 150 artists.', 'Snafu Records takes a 50% cut of all its artists earnings, although Desai says most traditional labels take up to 80%.', ""The start-up's investors include Agnetha Fältskog (Agnetha from Abba), Finnish gaming entrepreneur Mikko Kodisoja, and Pophouse Entertainment, and it raised $7m (£5.5m) in its second funding round in late 2023."", 'But Mr Desai admits that raising capital was ""a lot harder"" than when the label first launched in 2019, and the company is yet to turn a profit.', 'Emil Widhagen, a journalist for Swedish tech and start-up news site Breakit, argues many of Stockholm\'s music tech start-ups are facing similar challenges to Snafu Records, as a result of global economic jitters. ""', 'People tend to move towards more safe investments in more difficult times, and music tech companies in general aren\'t producing profits, not even Spotify.""', ""Indeed, Spotify - the world's biggest subscription audio streaming site - reported a loss of around €75m (£64m; $82m) in the final quarter of 2023, despite cutting around 1,500 jobs."", 'But the company still saw a 4% increase in subscribers despite putting its prices up.', 'Some music tech entrepreneurs argue the speed at which AI tools are growing globally is also putting pressure on Stockholm\'s well-oiled music tech ecosystem. ""', 'One of the biggest challenges is to keep up with everything,"" says Emelie Olsson, chief operating officer and co-founder at Corite, a music tech start-up which uses crowdfunding to help artists gain financial backing from fans (and rewards fans if artists score a hit). ""', 'It\'s really a race, I would say, with a lot of companies doing a lot of cool things at the same time.""', 'Corite has also struggled to turn a profit, and is pinning its hopes on a new tool for artists and other content creators which is launching later this year. ""', 'We are about to raise money again and we are definitely humble,"" says Ms Olsson. ""', 'I think, companies have a bit more to prove a bit earlier than they had before.""']",0.2732650350345871,"One of the biggest challenges is to keep up with everything,"" says Emelie Olsson, chief operating officer and co-founder at Corite, a music tech start-up which uses crowdfunding to help artists gain financial backing from fans (and rewards fans if artists score a hit). ""","Emil Widhagen, a journalist for Swedish tech and start-up news site Breakit, argues many of Stockholm's music tech start-ups are facing similar challenges to Snafu Records, as a result of global economic jitters. """ Amgen wants in on the booming weight loss drug market — and it's taking a different approach,https://www.cnbc.com/2024/03/24/amgen-aims-to-enter-weight-loss-drug-market-with-a-new-approach.html,2024-03-25T17:03:02+0000,"In this articleAmgen is taking a new approach as it tries to stand out in a crowded field of drugmakers racing to develop the next blockbuster weight loss drug.The biotech company is testing an injectable treatment that helps people lose weight differently from the existing injections from Novo Nordisk and Eli Lilly, and other obesity medicines in development. Amgen's treatment, called MariTide, also appears to help patients keep weight off after they stop taking it.  The drugmaker is also testing its drug to be taken once a month or even less frequently, which could offer more convenience than the weekly medicines on the market. It's too early to say how competitive Amgen will be in the budding weight loss drug space, which Novo Nordisk and Eli Lilly have so far dominated.Some analysts expect the market could be worth $100 billion by the end of the decade, potentially leaving room for new competitors to enter. Goldman Sachs also projects that between 10 million and 70 million Americans will be taking weight loss drugs by 2028.The available data on Amgen's injectable drug is promising, but it's from a small, early-stage clinical trial. The Thousand Oaks, California-based company also is developing an oral medicine and other treatments for obesity, but has disclosed few details about them. Investors and health experts will likely get a better idea of Amgen's prospects later this year: The drugmaker expects to release initial data from an ongoing mid-stage trial on MariTide, along with phase one data on its obesity pill. It's also unclear whether Amgen's treatments will be cheaper than the existing weight loss drugs, which cost around $1,000 per month.Wegovy from Novo Nordisk and Zepbound from Eli Lilly lead a new class of obesity treatments that has drawn unrelenting patient demand — and investor interest — despite their hefty price tags and limited insurance coverage. Eli Lilly and Novo Nordisk have also struggled to offer enough supply of their treatments, which could give other companies a chance to win market share.  Amgen's drug offers a new twist on weight loss. Much like Wegovy and Zepbound, one part of Amgen's treatment activates a gut hormone receptor called GLP-1 to help regulate a person's appetite. But while Zepbound activates a second hormone receptor called GIP, Amgen's drug blocks it. Wegovy does not target GIP, which suppresses appetite like GLP-1 but may also improve how the body breaks down sugar and fat.Amgen's decision to tamp down rather than boost GIP activity is based on genetics research suggesting that blocking the receptor is linked to lower fat mass and body weight, company executives have said. That appears to contradict how Zepbound works. Eli Lilly's approach has proven successful: The treatment helped patients with obesity lose up to 22.5% of their weight after 72 weeks in a late-stage trial.But Amgen's MartiTide also was effective in a small, early-stage study. Patients given the highest dose of Amgen's drug — 420 milligrams — every month lost 14.5% of their body weight on average in just 12 weeks, according to data from the phase one trial published last month in the journal Nature Metabolism. There's a broader debate among researchers about why both approaches – blocking and activating GIP – are effective at promoting weight loss. One theory is that repeatedly activating the GIP receptor, as Zepbound does, ultimately causes the body to ""self-regulate"" itself and make sure there isn't too much GIP activity, said Dr. Caroline Apovian, a director of the Center for Weight Management and Wellness at Brigham and Women's Hospital.That decreases GIP activity overall, which is thought to essentially mimic what Amgen's drug achieves when it blocks the GIP receptor. But Apovian cautioned that ""none of this is proven"" and more data is needed.Amgen's treatment may be better at helping people maintain weight loss than competitors, even though patients take it less frequently, early-stage trial data suggests.Amgen's study enrolled 110 patients with obesity but not diabetes. Patients in one group were randomly assigned to receive a single dose of the drug and were followed for 150 days, while a second group was given a dose every four weeks for three months. Patients who received a single shot of the highest dose of MariTide lost up to 8.2% of their body weight after 92 days. That suggests a single injection of the drug has a prolonged weight loss effect, according to the study authors. In the group that received multiple doses of the drug, patients appeared to maintain their maximum weight loss until around two months after their last dose. Their body weight started to slowly return after that. Still, their weight was as much as 11.2% lower five months after they received the last dose. ""We think meaningful weight loss is already 5%. If you take Amgen's drug, lose 14.5%, stop the drug and still have 11.2% weight loss after a few months, that's significant,"" said Dr. Holly Lofton, director of the Weight Management Program at NYU Langone Health and an obesity medicine physician. But she pointed out the need to study the treatment in a larger group of people. The sustained weight loss in Amgen's study appears to contrast with results seen in clinical trials on Zepbound and Wegovy. Patients in those studies saw their weight rebound sooner after stopping the injections. The frequency of Amgen's drug also sets it apart. Those on Wegovy or Zepbound have to take doses weekly, compared with the once-monthly MariTide. Amgen's trial used monthly dosing in part because patients saw sustained weight loss whether they had a single injection or multiple shots of the company's drug, according to the study authors. Amgen's treatment also can stay in the body for much longer than current therapies like Wegovy and Zepbound because it includes a monoclonal antibody, the authors added. Amgen's MariTide ""has that advantage where it's just going to last a lot longer. Even if you give a high dose, you're still going to have drug exposure in the body for a month or two months, so that clearly shows you don't need to take it every week,"" William Blair & Company analyst Matt Phipps told CNBC.Phipps said people typically don't want to get injections often, so some patients could prefer a monthly shot like Amgen's MariTide for a disease that will likely require chronic treatment. But he noted that a patient's choice may also depend on whether the level of weight loss and side effects of Amgen's drug end up being on par with those of the existing weekly injections. Amgen's ongoing phase two trial is exploring whether patients can take its drug even less frequently than once a month. Amgen's longer-term phase two study on nearly 600 patients will provide more clarity on how competitive MariTide will be against Wegovy and Zepbound. The company is exploring which dose strength and schedule is best for patients. It expects to release initial trial results later this year. Some analysts have said the phase two trial could help address several questions, including how well patients tolerate the treatment at different dose regimens.The 52-week study is testing 11 different patient groups at a variety of dosing levels and regimens. That includes starting some patients at a lower dose of a drug and gradually increasing it until they reach a higher target dose. That dose escalation could help reduce side effects that some patients experienced after taking their first dose of MariTide in the phase one trial, according to Phipps.In that trial, the safety and side effects of Amgen's drug were similar to other GLP-1 medications. Nausea and vomiting were the most commonly reported side effects, and typically lasted for about 72 hours. Four out of eight patients in a group receiving the highest dose of the treatment withdrew before getting a second shot after reporting mild gastrointestinal issues, according to the study. But no other patients stopped taking the drug due to adverse events across any of the different dosing groups, Amgen Chief Medical Officer Paul Burton said during a conference earlier this month. ""It's a little early to jump to the conclusion that the drug won't be tolerated by patients based on this phase one data,"" William Blair & Company's Phipps said.Another part of Amgen's phase two trial will also examine weight loss beyond 52 weeks, which will provide a clearer picture of how long the drug is effective.",CNBC,25/03/2024,"['In this articleAmgen is taking a new approach as it tries to stand out in a crowded field of drugmakers racing to develop the next blockbuster weight loss drug.', 'The biotech company is testing an injectable treatment that helps people lose weight differently from the existing injections from Novo Nordisk and Eli Lilly, and other obesity medicines in development.', ""Amgen's treatment, called MariTide, also appears to help patients keep weight off after they stop taking it."", 'The drugmaker is also testing its drug to be taken once a month or even less frequently, which could offer more convenience than the weekly medicines on the market.', ""It's too early to say how competitive Amgen will be in the budding weight loss drug space, which Novo Nordisk and Eli Lilly have so far dominated."", 'Some analysts expect the market could be worth $100 billion by the end of the decade, potentially leaving room for new competitors to enter.', ""Goldman Sachs also projects that between 10 million and 70 million Americans will be taking weight loss drugs by 2028.The available data on Amgen's injectable drug is promising, but it's from a small, early-stage clinical trial."", 'The Thousand Oaks, California-based company also is developing an oral medicine and other treatments for obesity, but has disclosed few details about them.', ""Investors and health experts will likely get a better idea of Amgen's prospects later this year: The drugmaker expects to release initial data from an ongoing mid-stage trial on MariTide, along with phase one data on its obesity pill."", ""It's also unclear whether Amgen's treatments will be cheaper than the existing weight loss drugs, which cost around $1,000 per month."", 'Wegovy from Novo Nordisk and Zepbound from Eli Lilly lead a new class of obesity treatments that has drawn unrelenting patient demand — and investor interest — despite their hefty price tags and limited insurance coverage.', 'Eli Lilly and Novo Nordisk have also struggled to offer enough supply of their treatments, which could give other companies a chance to win market share.', ""Amgen's drug offers a new twist on weight loss."", ""Much like Wegovy and Zepbound, one part of Amgen's treatment activates a gut hormone receptor called GLP-1 to help regulate a person's appetite."", ""But while Zepbound activates a second hormone receptor called GIP, Amgen's drug blocks it."", 'Wegovy does not target GIP, which suppresses appetite like GLP-1 but may also improve how the body breaks down sugar and fat.', ""Amgen's decision to tamp down rather than boost GIP activity is based on genetics research suggesting that blocking the receptor is linked to lower fat mass and body weight, company executives have said."", 'That appears to contradict how Zepbound works.', ""Eli Lilly's approach has proven successful: The treatment helped patients with obesity lose up to 22.5% of their weight after 72 weeks in a late-stage trial."", ""But Amgen's MartiTide also was effective in a small, early-stage study."", ""Patients given the highest dose of Amgen's drug — 420 milligrams — every month lost 14.5% of their body weight on average in just 12 weeks, according to data from the phase one trial published last month in the journal Nature Metabolism."", ""There's a broader debate among researchers about why both approaches – blocking and activating GIP – are effective at promoting weight loss."", 'One theory is that repeatedly activating the GIP receptor, as Zepbound does, ultimately causes the body to ""self-regulate"" itself and make sure there isn\'t too much GIP activity, said Dr. Caroline Apovian, a director of the Center for Weight Management and Wellness at Brigham and Women\'s Hospital.', ""That decreases GIP activity overall, which is thought to essentially mimic what Amgen's drug achieves when it blocks the GIP receptor."", 'But Apovian cautioned that ""none of this is proven"" and more data is needed.', ""Amgen's treatment may be better at helping people maintain weight loss than competitors, even though patients take it less frequently, early-stage trial data suggests."", ""Amgen's study enrolled 110 patients with obesity but not diabetes."", 'Patients in one group were randomly assigned to receive a single dose of the drug and were followed for 150 days, while a second group was given a dose every four weeks for three months.', 'Patients who received a single shot of the highest dose of MariTide lost up to 8.2% of their body weight after 92 days.', 'That suggests a single injection of the drug has a prolonged weight loss effect, according to the study authors.', 'In the group that received multiple doses of the drug, patients appeared to maintain their maximum weight loss until around two months after their last dose.', 'Their body weight started to slowly return after that.', 'Still, their weight was as much as 11.2% lower five months after they received the last dose.', '""We think meaningful weight loss is already 5%.', 'If you take Amgen\'s drug, lose 14.5%, stop the drug and still have 11.2% weight loss after a few months, that\'s significant,"" said Dr. Holly Lofton, director of the Weight Management Program at NYU Langone Health and an obesity medicine physician.', 'But she pointed out the need to study the treatment in a larger group of people.', ""The sustained weight loss in Amgen's study appears to contrast with results seen in clinical trials on Zepbound and Wegovy."", 'Patients in those studies saw their weight rebound sooner after stopping the injections.', ""The frequency of Amgen's drug also sets it apart."", 'Those on Wegovy or Zepbound have to take doses weekly, compared with the once-monthly MariTide.', ""Amgen's trial used monthly dosing in part because patients saw sustained weight loss whether they had a single injection or multiple shots of the company's drug, according to the study authors."", ""Amgen's treatment also can stay in the body for much longer than current therapies like Wegovy and Zepbound because it includes a monoclonal antibody, the authors added."", 'Amgen\'s MariTide ""has that advantage where it\'s just going to last a lot longer.', 'Even if you give a high dose, you\'re still going to have drug exposure in the body for a month or two months, so that clearly shows you don\'t need to take it every week,"" William Blair & Company analyst Matt Phipps told CNBC.Phipps said people typically don\'t want to get injections often, so some patients could prefer a monthly shot like Amgen\'s MariTide for a disease that will likely require chronic treatment.', ""But he noted that a patient's choice may also depend on whether the level of weight loss and side effects of Amgen's drug end up being on par with those of the existing weekly injections."", ""Amgen's ongoing phase two trial is exploring whether patients can take its drug even less frequently than once a month."", ""Amgen's longer-term phase two study on nearly 600 patients will provide more clarity on how competitive MariTide will be against Wegovy and Zepbound."", 'The company is exploring which dose strength and schedule is best for patients.', 'It expects to release initial trial results later this year.', 'Some analysts have said the phase two trial could help address several questions, including how well patients tolerate the treatment at different dose regimens.', 'The 52-week study is testing 11 different patient groups at a variety of dosing levels and regimens.', 'That includes starting some patients at a lower dose of a drug and gradually increasing it until they reach a higher target dose.', 'That dose escalation could help reduce side effects that some patients experienced after taking their first dose of MariTide in the phase one trial, according to Phipps.', ""In that trial, the safety and side effects of Amgen's drug were similar to other GLP-1 medications."", 'Nausea and vomiting were the most commonly reported side effects, and typically lasted for about 72 hours.', 'Four out of eight patients in a group receiving the highest dose of the treatment withdrew before getting a second shot after reporting mild gastrointestinal issues, according to the study.', 'But no other patients stopped taking the drug due to adverse events across any of the different dosing groups, Amgen Chief Medical Officer Paul Burton said during a conference earlier this month.', '""It\'s a little early to jump to the conclusion that the drug won\'t be tolerated by patients based on this phase one data,"" William Blair & Company\'s Phipps said.', ""Another part of Amgen's phase two trial will also examine weight loss beyond 52 weeks, which will provide a clearer picture of how long the drug is effective.""]",0.05595128954394345,The company is exploring which dose strength and schedule is best for patients.,"But no other patients stopped taking the drug due to adverse events across any of the different dosing groups, Amgen Chief Medical Officer Paul Burton said during a conference earlier this month." Reddit: Social media firm's shares jump in stock market debut,https://www.bbc.co.uk/news/business-68610711,2024-03-21T01:01:32.000Z,"Social media site Reddit's shares have closed 48% higher on the company's first day of trading on the New York Stock Exchange. On Wednesday, Reddit revealed that it had priced its shares at $34 each, near the top of a marketed range. By the close of trade on Thursday its shares stood at $50.44, valuing the firm at more than $9bn (£7.1bn). It was one of the biggest ever initial public offerings (IPO) by a social media platform. It put 22 million of its shares up for sale and, in an unusual move, offered some of the shares to the platform's users, although it has not been disclosed how many took up the offer. Reddit was founded almost 20 years ago and has become one of the most popular websites in the world. It is an online forum where users can discuss topics that interest them. As of the end of December 2023 it had more than 73 million users, according to the company. But the filing brings to the forefront a question that has been bubbling for years behind the scenes - how can a business make money from what is, essentially, random conversations. People do not pay to use Reddit - the website is completely free for people to browse, post and comment. For 20 years it couldn't turn a profit, and some might ask why Reddit is worth billions if it has not ever made money. It has tried a few things, and a significant visual change in 2017 made the website more friendly to advertisers. But it seems Reddit's road to profitability has an end in sight, built around AI models. That is because companies like OpenAI, the developer of ChatGPT, will pay for data of those random conversations. Google is believed to have paid Reddit $60m for the right to scan almost two decades of discussions to make its AI more human-like - and Reddit has said it has agreed licensing deals worth more than $200m over the next two to three years. In February, Reddit said it lost $90.8m in 2023, so the money from artificial intelligence (AI) firms could make the platform profitable. But there are also plenty of concerns on Reddit's horizon too. For one thing, the social media platform is facing increased scrutiny from regulators. The US Federal Trade Commission (FTC) is already looking into how Reddit licences its data for AI models - generally speaking, regulators don't like it when big technology firms sell data generated by users. While the platform may have seen that coming, it may have been blindsided by a challenge from Finnish firm Nokia, which is accusing it of infringing on its patents. ""We will evaluate their claims,"" Reddit said, adding that it's faced similar accusations in the past. Perhaps most significant of all is that Reddit's filing with the US financial markets regulator, the Securities and Exchange Commission (SEC), notes its users as a potential risk that comes with owning shares in the company. ""If we fail to increase or retain our user base or if user engagement declines, our business... and prospects will be harmed,"" it said in the filing. ""If Redditors do not continue to contribute content or their contributions are not valuable or appealing to other Redditors, we may experience a decline in the number of Redditors accessing our products and services... which could result in the loss of advertisers."" Reddit's user base has been known to react with frustration to changes made on the platform. Such is their distaste for changes made in recent years, a search on the platform for chief executive Steve Huffman - username u/spez - shows that when Redditors mention him the comments are usually preceded by foul language. Despite growing discontent, threats to leave the platform - such as the blackout that rendered much of Reddit unusable in 2023 - have often proved short-lived. And although there have been efforts to create an alternative platform, one of Reddit's biggest pluses is something it does not have - a significant rival. While there may be concerns from Redditors, the social media platform seems to be on relatively safe ground when it ties its stock market value to its users, so long as there is nowhere else for them to go. ",BBC,21/03/2024,"[""Social media site Reddit's shares have closed 48% higher on the company's first day of trading on the New York Stock Exchange."", 'On Wednesday, Reddit revealed that it had priced its shares at $34 each, near the top of a marketed range.', 'By the close of trade on Thursday its shares stood at $50.44, valuing the firm at more than $9bn (£7.1bn).', 'It was one of the biggest ever initial public offerings (IPO) by a social media platform.', ""It put 22 million of its shares up for sale and, in an unusual move, offered some of the shares to the platform's users, although it has not been disclosed how many took up the offer."", 'Reddit was founded almost 20 years ago and has become one of the most popular websites in the world.', 'It is an online forum where users can discuss topics that interest them.', 'As of the end of December 2023 it had more than 73 million users, according to the company.', 'But the filing brings to the forefront a question that has been bubbling for years behind the scenes - how can a business make money from what is, essentially, random conversations.', 'People do not pay to use Reddit - the website is completely free for people to browse, post and comment.', ""For 20 years it couldn't turn a profit, and some might ask why Reddit is worth billions if it has not ever made money."", 'It has tried a few things, and a significant visual change in 2017 made the website more friendly to advertisers.', ""But it seems Reddit's road to profitability has an end in sight, built around AI models."", 'That is because companies like OpenAI, the developer of ChatGPT, will pay for data of those random conversations.', 'Google is believed to have paid Reddit $60m for the right to scan almost two decades of discussions to make its AI more human-like - and Reddit has said it has agreed licensing deals worth more than $200m over the next two to three years.', 'In February, Reddit said it lost $90.8m in 2023, so the money from artificial intelligence (AI) firms could make the platform profitable.', ""But there are also plenty of concerns on Reddit's horizon too."", 'For one thing, the social media platform is facing increased scrutiny from regulators.', ""The US Federal Trade Commission (FTC) is already looking into how Reddit licences its data for AI models - generally speaking, regulators don't like it when big technology firms sell data generated by users."", 'While the platform may have seen that coming, it may have been blindsided by a challenge from Finnish firm Nokia, which is accusing it of infringing on its patents. ""', 'We will evaluate their claims,"" Reddit said, adding that it\'s faced similar accusations in the past.', 'Perhaps most significant of all is that Reddit\'s filing with the US financial markets regulator, the Securities and Exchange Commission (SEC), notes its users as a potential risk that comes with owning shares in the company. ""', 'If we fail to increase or retain our user base or if user engagement declines, our business... and prospects will be harmed,"" it said in the filing. ""', 'If Redditors do not continue to contribute content or their contributions are not valuable or appealing to other Redditors, we may experience a decline in the number of Redditors accessing our products and services... which could result in the loss of advertisers.""', ""Reddit's user base has been known to react with frustration to changes made on the platform."", 'Such is their distaste for changes made in recent years, a search on the platform for chief executive Steve Huffman - username u/spez - shows that when Redditors mention him the comments are usually preceded by foul language.', 'Despite growing discontent, threats to leave the platform - such as the blackout that rendered much of Reddit unusable in 2023 - have often proved short-lived.', ""And although there have been efforts to create an alternative platform, one of Reddit's biggest pluses is something it does not have - a significant rival."", 'While there may be concerns from Redditors, the social media platform seems to be on relatively safe ground when it ties its stock market value to its users, so long as there is nowhere else for them to go.']",0.23340202866791318,Google is believed to have paid Reddit $60m for the right to scan almost two decades of discussions to make its AI more human-like - and Reddit has said it has agreed licensing deals worth more than $200m over the next two to three years.,"If Redditors do not continue to contribute content or their contributions are not valuable or appealing to other Redditors, we may experience a decline in the number of Redditors accessing our products and services... which could result in the loss of advertisers.""" Easter eggs costs rise as climate change hits crops,https://www.bbc.co.uk/news/science-environment-68619912,2024-03-21T06:00:00.000Z,"You may have noticed that Easter eggs are more expensive this year. But did you know that climate change is one of the reasons? Most chocolate is made from cocoa grown in West Africa, but a humid heatwave has blasted the crops and massively cut yields. Experts say that human-induced climate change has made the extreme heat 10 times more likely. Which? found some popular eggs have risen in price by 50% or more. The shortage of cocoa resulting from the heatwave has seen prices soar to almost $8,500 (£6,700) a tonne this week. Cocoa trees are particularly vulnerable to changes in the climate. They only grow in a narrow band of about 20 degrees latitude around the Equator. Most global production is concentrated in West Africa. In 2023, 58m kilogrammes of cocoa beans worth £127m were imported to the UK from Ivory Coast and Ghana with 85% of the UK's cocoa beans sourced from Ivory Coast. However, severe drought conditions have hit the West Africa region since February this year. This has been caused by temperatures that soared above 40C, breaking records in countries including the Ivory Coast and Ghana. It was these exceptionally high temperatures that the World Weather Attribution group, based at Imperial College London, found were made 10 times more likely by human-caused greenhouse gas emissions. Their study found that unless the world quickly reduces fossil fuel use, West Africa will experience similar heatwaves about every two years. ""There were reports from farmers in Ivory Coast that the heat weakened the cocoa crop,"" according to one of the authors of the study, Izadine Pinto, from the University of Cape Town. He said the high temperatures increased the rate of evaporation, leaving the crops without sufficient moisture. Another factor impacting the crops was El Niño. This is a recurring, natural fluctuation in weather patterns in the tropical Pacific that drives up global temperatures and can lead to extreme weather in some places. A strong El Niño has been active since last June. El Niño years often present challenges for farmers, but global warming is exacerbating those changes, says Ben Clarke, an expert on extreme weather at the Grantham Institute at Imperial College. ""Increasingly, climate change driven by fossil fuel use is multiplying this natural challenge in many regions. It fuels more extreme conditions, devastates harvests, and makes food costs higher for all,"" Mr Clarke said. Drought is not the only factor affecting cocoa growers. Both Ivory Coast and Ghana have been hit with an extreme weather double whammy. In December last year, both countries experienced intense rains. Total precipitation in West Africa was more than double the 30-year average for the time of year. The wet and humid conditions allowed a fungal infection called black pod disease to flourish, rotting cocoa beans on the trees. The result of these different extreme events has been the same - the price of cocoa has more than trebled since this time last year and doubled in just the last three months. Chocolate makers typically buy beans months ahead of time but soaring prices are now beginning to affect prices in the shops. ""Lots of players who have already announced price increases. We are also part of that group,"" Martin Hug, of chocolate maker Lindt & Spruengli told city analysts earlier this month. In February, Mondelez, the company that owns the Cadbury brand, and the American chocolate maker Hershey were already warning rising cocoa prices could drive up the price of chocolate. Feeling the brunt of these price fluctuations are the farmers who grow the cocoa crops. There are estimated to be some two million smallholder farmers in the West African cocoa belt who rely on this labour-intensive crop for most of their income. Amber Sawyer, an analyst at the climate think-tank the Energy and Climate Intelligence Unit, said wealthy countries like the UK can provide financial and technical support to developing countries to help their farmers better cope with extreme weather. But she warned that, ""as climate change worsens, more support will undoubtedly be needed to protect their livelihoods and keep the flow of cocoa beans coming into the UK."" ",BBC,21/03/2024,"['You may have noticed that Easter eggs are more expensive this year.', 'But did you know that climate change is one of the reasons?', 'Most chocolate is made from cocoa grown in West Africa, but a humid heatwave has blasted the crops and massively cut yields.', 'Experts say that human-induced climate change has made the extreme heat 10 times more likely.', 'Which?', 'found some popular eggs have risen in price by 50% or more.', 'The shortage of cocoa resulting from the heatwave has seen prices soar to almost $8,500 (£6,700) a tonne this week.', 'Cocoa trees are particularly vulnerable to changes in the climate.', 'They only grow in a narrow band of about 20 degrees latitude around the Equator.', 'Most global production is concentrated in West Africa.', ""In 2023, 58m kilogrammes of cocoa beans worth £127m were imported to the UK from Ivory Coast and Ghana with 85% of the UK's cocoa beans sourced from Ivory Coast."", 'However, severe drought conditions have hit the West Africa region since February this year.', 'This has been caused by temperatures that soared above 40C, breaking records in countries including the Ivory Coast and Ghana.', 'It was these exceptionally high temperatures that the World Weather Attribution group, based at Imperial College London, found were made 10 times more likely by human-caused greenhouse gas emissions.', 'Their study found that unless the world quickly reduces fossil fuel use, West Africa will experience similar heatwaves about every two years. ""', 'There were reports from farmers in Ivory Coast that the heat weakened the cocoa crop,"" according to one of the authors of the study, Izadine Pinto, from the University of Cape Town.', 'He said the high temperatures increased the rate of evaporation, leaving the crops without sufficient moisture.', 'Another factor impacting the crops was El Niño.', 'This is a recurring, natural fluctuation in weather patterns in the tropical Pacific that drives up global temperatures and can lead to extreme weather in some places.', 'A strong El Niño has been active since last June.', 'El Niño years often present challenges for farmers, but global warming is exacerbating those changes, says Ben Clarke, an expert on extreme weather at the Grantham Institute at Imperial College. ""', 'Increasingly, climate change driven by fossil fuel use is multiplying this natural challenge in many regions.', 'It fuels more extreme conditions, devastates harvests, and makes food costs higher for all,"" Mr Clarke said.', 'Drought is not the only factor affecting cocoa growers.', 'Both Ivory Coast and Ghana have been hit with an extreme weather double whammy.', 'In December last year, both countries experienced intense rains.', 'Total precipitation in West Africa was more than double the 30-year average for the time of year.', 'The wet and humid conditions allowed a fungal infection called black pod disease to flourish, rotting cocoa beans on the trees.', 'The result of these different extreme events has been the same - the price of cocoa has more than trebled since this time last year and doubled in just the last three months.', 'Chocolate makers typically buy beans months ahead of time but soaring prices are now beginning to affect prices in the shops. ""', 'Lots of players who have already announced price increases.', 'We are also part of that group,"" Martin Hug, of chocolate maker Lindt & Spruengli told city analysts earlier this month.', 'In February, Mondelez, the company that owns the Cadbury brand, and the American chocolate maker Hershey were already warning rising cocoa prices could drive up the price of chocolate.', 'Feeling the brunt of these price fluctuations are the farmers who grow the cocoa crops.', 'There are estimated to be some two million smallholder farmers in the West African cocoa belt who rely on this labour-intensive crop for most of their income.', 'Amber Sawyer, an analyst at the climate think-tank the Energy and Climate Intelligence Unit, said wealthy countries like the UK can provide financial and technical support to developing countries to help their farmers better cope with extreme weather.', 'But she warned that, ""as climate change worsens, more support will undoubtedly be needed to protect their livelihoods and keep the flow of cocoa beans coming into the UK.""']",0.05849767943250169,"Amber Sawyer, an analyst at the climate think-tank the Energy and Climate Intelligence Unit, said wealthy countries like the UK can provide financial and technical support to developing countries to help their farmers better cope with extreme weather.","It fuels more extreme conditions, devastates harvests, and makes food costs higher for all,"" Mr Clarke said." The U.S. is the top country for millionaires and billionaires,https://www.cnbc.com/2024/03/22/the-us-is-the-top-country-for-millionaires-and-billionaires.html,2024-03-22T16:57:55+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The U.S. has rapidly overwhelmed China as the world's top spot for millionaires and billionaires, according a new report.  There are now more than 5.5 million Americans with liquid investible assets of more than $1 million, up 62% over the past decade and well above the global growth rate of 38%, according to the 2024 USA Wealth Report from Henley & Partners and New World Wealth.Over the past five years, the population of millionaires in the U.S. has grown 35%, nearly twice as fast as China's. The U.S. is now home to 37% of the world's millionaires, up from 35% in 2018.The divergence grows even more at the top of the wealth ladder. The U.S. has 9,850 centi-millionaires — those worth $100 million or more — compared with China's 2,352. The U.S. has about 788 billionaires to China's 305.""The USA remains the world's undisputed leader in private wealth creation and accumulation,"" according to the report.Dominic Volek, group head of private clients at Henley, said the strict Covid lockdowns in China coupled with increases in its government intervention in the private sector have slowed the growth in wealth creation.""China has certainly slowed a lot due to these elements and the U.S. has benefited,"" he said.The shift from China to the U.S. is also reflected in wealth migration patterns. A net 13,500 Chinese millionaires left China in 2023, marking a new record. The U.S. had a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to the Henley report.""The USA remains a top draw for wealthy tech entrepreneurs and engineers, especially from Asia, Europe, and the UK,"" the report said. America's leadership in wealth creation is spilling over into spending and investing. A report from UBS and Art Basel finds that the U.S. is the leader in global art sales, accounting for 42% of sales by value. The U.S. also leads the world in sales of the highest-priced works.Bain now predicts that China will account for only 35% to 40% of global luxury goods consumption by 2030, up only slightly from current levels. Overall luxury spending in China is about 40% below where it was in 2019, according to Bain. Luxury sales in the U.S. last year totaled $80 billion, to China’s $52 billion, Bain found.While analysts and economists say China will still be a major source of luxury and wealth growth in the coming years, the U.S. has become both the dominant market and source of growth for the high-net-worth economy.""The wealth creation opportunities in the U.S. are second to none globally,"" Volek said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,22/03/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', ""The U.S. has rapidly overwhelmed China as the world's top spot for millionaires and billionaires, according a new report."", 'There are now more than 5.5 million Americans with liquid investible assets of more than $1 million, up 62% over the past decade and well above the global growth rate of 38%, according to the 2024 USA Wealth Report from Henley & Partners and New World Wealth.', ""Over the past five years, the population of millionaires in the U.S. has grown 35%, nearly twice as fast as China's."", ""The U.S. is now home to 37% of the world's millionaires, up from 35% in 2018.The divergence grows even more at the top of the wealth ladder."", ""The U.S. has 9,850 centi-millionaires — those worth $100 million or more — compared with China's 2,352."", 'The U.S. has about 788 billionaires to China\'s 305.""The USA remains the world\'s undisputed leader in private wealth creation and accumulation,"" according to the report.', 'Dominic Volek, group head of private clients at Henley, said the strict Covid lockdowns in China coupled with increases in its government intervention in the private sector have slowed the growth in wealth creation.', '""China has certainly slowed a lot due to these elements and the U.S. has benefited,"" he said.', 'The shift from China to the U.S. is also reflected in wealth migration patterns.', 'A net 13,500 Chinese millionaires left China in 2023, marking a new record.', 'The U.S. had a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to the Henley report.', '""The USA remains a top draw for wealthy tech entrepreneurs and engineers, especially from Asia, Europe, and the UK,"" the report said.', ""America's leadership in wealth creation is spilling over into spending and investing."", 'A report from UBS and Art Basel finds that the U.S. is the leader in global art sales, accounting for 42% of sales by value.', 'The U.S. also leads the world in sales of the highest-priced works.', 'Bain now predicts that China will account for only 35% to 40% of global luxury goods consumption by 2030, up only slightly from current levels.', 'Overall luxury spending in China is about 40% below where it was in 2019, according to Bain.', 'Luxury sales in the U.S. last year totaled $80 billion, to China’s $52 billion, Bain found.', 'While analysts and economists say China will still be a major source of luxury and wealth growth in the coming years, the U.S. has become both the dominant market and source of growth for the high-net-worth economy.', '""The wealth creation opportunities in the U.S. are second to none globally,"" Volek said.', ""Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.""]",0.38104560036824114,"There are now more than 5.5 million Americans with liquid investible assets of more than $1 million, up 62% over the past decade and well above the global growth rate of 38%, according to the 2024 USA Wealth Report from Henley & Partners and New World Wealth.", Target doubles bonuses for salaried employees as profits recover,https://www.cnbc.com/2024/03/21/target-doubles-bonuses-for-salaried-employees-as-profits-recover-.html,2024-03-21T17:31:03+0000,"In this articleTarget will double its bonus payments to salaried employees this year, as the big-box retailer's profits recover from a bumpy nearly two-year stretch.Salaried employees at the Minneapolis-based retailer receive an annual bonus, based on Target's performance and the eligible amount set as part of their compensation. The retailer will pay 100% of employees' eligible annual bonus amounts for the most recent fiscal year, a company spokesperson said Thursday. That is an increase from 50% in the prior year.In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year.""Based on Target's performance in 2023, including the $2 billion in additional profit growth our team delivered that exceeded the goals we set at the beginning of the year, we're rewarding our team accordingly,"" the company statement said.Target will pay out the annual cash bonuses in late March. The amount paid out won't be as high as it could be, however. It tops out at 175% of each employee's eligible bonus amount.The vast majority of Target's approximately 415,000 employees, such as those at its stores and warehouses, are paid hourly and do not qualify for the bonuses. Yet it does offer bonuses to store and supply-chain leaders, along with many corporate employees. Top executives at Target have a different bonus structure. The increased bonus payout was first reported by Bloomberg.Target has dealt with a challenging nearly two-year stretch marked by inventory troubles, weaker discretionary spending, inflated supply chain costs and higher levels of theft. In the holiday quarter, Target's comparable sales declined for the third quarter in a row, and its e-commerce sales also dropped compared with the year-ago period.The discounter said it expects the sales challenges will continue. For the full year 2024, Target said it anticipates comparable sales will be flat to up 2%.But the company has improved profits and margins as Target has kept a sharper focus on inventory and as some of its costs, such as freight, have fallen. For the fiscal year, Target said, it expects adjusted earnings per share will range from $8.60 to $9.60. The higher end of that range would top the adjusted earnings per share of $8.94 that it reported for the previous fiscal year.",CNBC,21/03/2024,"[""In this articleTarget will double its bonus payments to salaried employees this year, as the big-box retailer's profits recover from a bumpy nearly two-year stretch."", ""Salaried employees at the Minneapolis-based retailer receive an annual bonus, based on Target's performance and the eligible amount set as part of their compensation."", ""The retailer will pay 100% of employees' eligible annual bonus amounts for the most recent fiscal year, a company spokesperson said Thursday."", 'That is an increase from 50% in the prior year.', 'In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year.', '""Based on Target\'s performance in 2023,including the $2 billion in additional profit growth our team delivered that exceeded the goals we set at the beginning of the year,we\'re rewarding our team accordingly,"" the company statement said.', 'Target will pay out the annual cash bonuses in late March.', ""The amount paid out won't be as high as it could be, however."", ""It tops out at 175% of each employee's eligible bonus amount."", ""The vast majority of Target's approximately 415,000 employees, such as those at its stores and warehouses, are paid hourly and do not qualify for the bonuses."", 'Yet it does offer bonuses to store and supply-chain leaders, along with many corporate employees.', 'Top executives at Target have a different bonus structure.', 'The increased bonus payout was first reported by Bloomberg.', 'Target has dealt with a challenging nearly two-year stretch marked by inventory troubles, weaker discretionary spending, inflated supply chain costs and higher levels of theft.', ""In the holiday quarter, Target's comparable sales declined for the third quarter in a row, and its e-commerce sales also dropped compared with the year-ago period."", 'The discounter said it expects the sales challenges will continue.', 'For the full year 2024, Target said it anticipates comparable sales will be flat to up 2%.But the company has improved profits and margins as Target has kept a sharper focus on inventory and as some of its costs, such as freight, have fallen.', 'For the fiscal year, Target said, it expects adjusted earnings per share will range from $8.60 to $9.60.', 'The higher end of that range would top the adjusted earnings per share of$8.94 that it reported for the previous fiscal year.']",0.44833844287731633,"""Based on Target's performance in 2023,including the $2 billion in additional profit growth our team delivered that exceeded the goals we set at the beginning of the year,we're rewarding our team accordingly,"" the company statement said.","Target has dealt with a challenging nearly two-year stretch marked by inventory troubles, weaker discretionary spending, inflated supply chain costs and higher levels of theft." Bahrain takes full control of supercar brand McLaren,https://www.bbc.co.uk/news/business-68639320,2024-03-22T15:58:09.000Z,"Bahrain's sovereign wealth fund has taken full ownership of the McLaren Group, which builds high-end sportscars and owns a majority stake in the McLaren F1 team. The Bahraini fund, Mumtalakat, was already McLaren's biggest shareholder. The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses. McLaren hailed it as a ""major milestone"". The company is now understood to be looking at technical partnerships with other businesses, to help it develop electric vehicle technology. ""We are delighted at Mumtalakat's continued commitment to McLaren through this deal,"" McLaren Group's executive chairman Paul Walsh said in a statement. ""This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, while continuing to explore potential technical partnerships with industry partners."" The McLaren Group has its headquarters in the Surrey town of Woking. It owns McLaren Automotive, which over the past 14 years has become a major player in the market for prestige sportscars. Its products compete with models from the likes of Ferrari and Porsche. The group also has a majority stake in McLaren Racing, which owns the McLaren Formula 1 team, and also competes in the US IndyCar series, and the electric series Formula E and Extreme E. The business has been under financial strain since the Covid pandemic, which initially forced it to suspend production of cars, and also led to the cancellation of racing activities around the world. It underwent a major restructuring in 2020, which included the loss of more than 1,000 jobs. It was then affected by the widespread disruption to supply chains that occurred as economies got back into gear following the pandemic, in particular a shortage of computer chips. There were also problems with its new Artura hybrid sportscar, which caused it to suspend production, and led to delays in deliveries. In the first nine months of last year - the most recent period for which figures are available - it made a pre-tax loss of £276m. Mumtalakat has been an investor in McLaren Group since 2007, when it bought a 30% stake from founding shareholders Ron Dennis and Mansour Ojjeh. Over time it increased that stake to 60%, while injecting hundreds of millions of pounds into the business. Its decision to take full control, which was initially agreed last year, bolsters McLaren's finances in the short term. Also, sources within the group say that getting rid of what was seen as an overly complex shareholder structure will make future partnerships easier. McLaren is known to be looking for new technical link-ups to help it expand its range and in particular work on developing electric vehicles. The BBC understands the Swedish firm Polestar, owned by the Chinese group Geely, is among those to have held talks with McLaren. According to the Financial Times, discussions have also been held with Hyundai, BMW and Californian electric brand Lucid Motors. Any deal could involve Mumtalakat selling a minority stake in McLaren group to its chosen partner. ",BBC,22/03/2024,"[""Bahrain's sovereign wealth fund has taken full ownership of the McLaren Group, which builds high-end sportscars and owns a majority stake in the McLaren F1 team."", ""The Bahraini fund, Mumtalakat, was already McLaren's biggest shareholder."", 'The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.', 'McLaren hailed it as a ""major milestone"".', 'The company is now understood to be looking at technical partnerships with other businesses, to help it develop electric vehicle technology. ""', 'We are delighted at Mumtalakat\'s continued commitment to McLaren through this deal,"" McLaren Group\'s executive chairman Paul Walsh said in a statement. ""', 'This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, while continuing to explore potential technical partnerships with industry partners.""', 'The McLaren Group has its headquarters in the Surrey town of Woking.', 'It owns McLaren Automotive, which over the past 14 years has become a major player in the market for prestige sportscars.', 'Its products compete with models from the likes of Ferrari and Porsche.', 'The group also has a majority stake in McLaren Racing, which owns the McLaren Formula 1 team, and also competes in the US IndyCar series, and the electric series Formula E and Extreme E. The business has been under financial strain since the Covid pandemic, which initially forced it to suspend production of cars, and also led to the cancellation of racing activities around the world.', 'It underwent a major restructuring in 2020, which included the loss of more than 1,000 jobs.', 'It was then affected by the widespread disruption to supply chains that occurred as economies got back into gear following the pandemic, in particular a shortage of computer chips.', 'There were also problems with its new Artura hybrid sportscar, which caused it to suspend production, and led to delays in deliveries.', 'In the first nine months of last year - the most recent period for which figures are available - it made a pre-tax loss of £276m. Mumtalakat has been an investor in McLaren Group since 2007, when it bought a 30% stake from founding shareholders Ron Dennis and Mansour Ojjeh.', 'Over time it increased that stake to 60%, while injecting hundreds of millions of pounds into the business.', ""Its decision to take full control, which was initially agreed last year, bolsters McLaren's finances in the short term."", 'Also, sources within the group say that getting rid of what was seen as an overly complex shareholder structure will make future partnerships easier.', 'McLaren is known to be looking for new technical link-ups to help it expand its range and in particular work on developing electric vehicles.', 'The BBC understands the Swedish firm Polestar, owned by the Chinese group Geely, is among those to have held talks with McLaren.', 'According to the Financial Times, discussions have also been held with Hyundai, BMW and Californian electric brand Lucid Motors.', 'Any deal could involve Mumtalakat selling a minority stake in McLaren group to its chosen partner.']",0.030200568610833145,"We are delighted at Mumtalakat's continued commitment to McLaren through this deal,"" McLaren Group's executive chairman Paul Walsh said in a statement. ""","The group also has a majority stake in McLaren Racing, which owns the McLaren Formula 1 team, and also competes in the US IndyCar series, and the electric series Formula E and Extreme E. The business has been under financial strain since the Covid pandemic, which initially forced it to suspend production of cars, and also led to the cancellation of racing activities around the world." "Former Disney CEO Bob Chapek breaks silence, says there's no strategic need for ESPN partners",https://www.cnbc.com/2024/03/21/ex-disney-ceo-bob-chapek-says-espn-doesnt-need-strategic-partners.html,2024-03-21T17:11:47+0000,"In this articleIn his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners.""Strategically, I don't really see a benefit in bringing on yet another minority partner into ESPN,"" Chapek said as part of the CNBC documentary ""ESPN's Fight for Dominance,"" which chronicles the network's digital strategy, published Thursday.Disney CEO Bob Iger told CNBC's David Faber in July that he'd consider selling a minority stake in ESPN to strengthen the sports network's content or technology as it plans a new direct-to-consumer offering, which he later said would launch by fall 2025.The company hasn't yet announced a deal to sell a stake in ESPN. CNBC reported in August that the network had held talks with the major American professional sports leagues, including the National Football League and the National Basketball Association, about potential partnerships or investments.Disney owns 80% of ESPN and Hearst owns the other 20%, a structure that's been in place since 1996. By searching for a partner, Disney wants to enhance the content, distribution and marketing of the direct-to-consumer ESPN, which hasn't yet been priced, Iger said during Disney's August quarterly earnings call.Striking a partnership with one of the professional sports leagues could help secure future live rights, though it may irritate other media companies that bid against Disney for packages of games. Bringing on a technology or telecommunications company such as Verizon or Apple could give ESPN broader distribution options by reaching larger customer bases.Still, it's unclear selling equity in ESPN is needed to strike an arrangement. ESPN President Jimmy Pitaro, who also spoke with CNBC as part of the documentary, downplayed the need for the sports network to sell a stake in its business to build a partnership with a league or another company.""It's not about equity,"" Pitaro said. ""It's not about these partners taking an ownership interest in ESPN. That is something, as Bob [Iger] has said, that we are very much open to, but this is about partnership and accelerating the launch or the adoption of ESPN flagship.""Chapek's remarks are his first public statements since Disney's board fired him and brought back Iger as CEO about 16 months ago. He and Iger, who had stayed on as Disney's executive chairman, had a strained relationship that got progressively worse through Chapek's tenure as CEO, which ran nearly three years from 2020 to 2022, as documented by CNBC in September. Chapek declined to comment on anything other than ESPN's future for the CNBC documentary.While Chapek said he didn't agree with the need to bring on a partner for strategic reasons, he did acknowledge Disney might do it to bring in cash to pay for Comcast's one-third stake in Hulu, which Disney has committed to buy for at least $8.6 billion.""There's already one minority strategic partner in Hearst. So this would be bringing on a second minority strategic partner,"" Chapek said. ""Obviously, the benefit of doing that is that you make available some cash. And given some of the conversation that's been happening between Comcast and Disney in terms of needing to buy the final share of Hulu to make it wholly owned by the Disney company, it's possible that maybe that cash itself is what they're after.""Chapek also discussed the vision he had as CEO of turning ESPN into a centralized hub to direct consumers to where a game is streaming, no matter which company owns the rights to air it — a concept CNBC first reported in March 2023.""If I'm on my Apple TV and I want to watch a movie, I have no idea whether it's on Prime or Netflix or Disney+ or Hulu or wherever it's at,"" Chapek said. ""The way I find out is I go to Apple TV, I plug in the movie that I'm looking to watch, and they direct me exactly to where that movie is. And then they connect me seamlessly without me then having to exit and go to another app to go find the show on that app. I think ESPN should be that source for a central clearinghouse.""Adding one-stop navigation can help ESPN become the first place sports fans go to when they want to watch a game, even if Disney doesn't own the rights to certain sports, Chapek said.""How do you make yourself indispensable to the sports viewer so that they stay on with you as you evolve over to a streaming world? I think solving that problem would be one big way to do it,"" Chapek said.WATCH: Bob Chapek discusses ESPN's future",CNBC,21/03/2024,"['In this articleIn his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners.', '""Strategically, I don\'t really see a benefit in bringing on yet another minority partner into ESPN,"" Chapek said as part of the CNBC documentary ""ESPN\'s Fight for Dominance,"" which chronicles the network\'s digital strategy, published Thursday.', ""Disney CEO Bob Iger told CNBC's David Faber in July that he'd consider selling a minority stake in ESPN to strengthen the sports network's content or technology as it plans a new direct-to-consumer offering, which he later said would launch by fall 2025.The company hasn't yet announced a deal to sell a stake in ESPN."", 'CNBC reported in August that the network had held talks with the major American professional sports leagues, including the National Football League and the National Basketball Association, about potential partnerships or investments.', ""Disney owns 80% of ESPN and Hearst owns the other 20%, a structure that's been in place since 1996."", ""By searching for a partner, Disney wants to enhance the content, distribution and marketing of the direct-to-consumer ESPN, which hasn't yet been priced, Iger said during Disney's August quarterly earnings call."", 'Striking a partnership with one of the professional sports leagues could help secure future live rights, though it may irritate other media companies that bid against Disney for packages of games.', 'Bringing on a technology or telecommunications company such as Verizon or Apple could give ESPN broader distribution options by reaching larger customer bases.', ""Still, it's unclear selling equity in ESPN is needed to strike an arrangement."", 'ESPN President Jimmy Pitaro, who also spoke with CNBC as part of the documentary, downplayed the need for the sports network to sell a stake in its business to build a partnership with a league or another company.', '""It\'s not about equity,"" Pitaro said. ""', ""It's not about these partners taking an ownership interest in ESPN."", 'That is something, as Bob [Iger] has said, that we are very much open to, but this is about partnership and accelerating the launch or the adoption of ESPN flagship.', '""Chapek\'s remarks are his first public statements since Disney\'s board fired him and brought back Iger as CEO about 16 months ago.', ""He and Iger, who had stayed on as Disney's executive chairman, had a strained relationship that got progressively worse through Chapek's tenure as CEO, which ran nearly three years from 2020 to 2022, as documented by CNBC in September."", ""Chapek declined to comment on anything other than ESPN's future for the CNBC documentary."", ""While Chapek said he didn't agree with the need to bring on a partner for strategic reasons, he did acknowledge Disney might do it to bring in cash to pay for Comcast's one-third stake in Hulu, which Disney has committed to buy for at least $8.6 billion."", '""There\'s already one minority strategic partner in Hearst.', 'So this would be bringing on a second minority strategic partner,"" Chapek said. ""', 'Obviously, the benefit of doing that is that you make available some cash.', ""And given some of the conversation that's been happening between Comcast and Disney in terms of needing to buy the final share of Hulu to make it wholly owned by the Disney company, it's possible that maybe that cash itself is what they're after."", '""Chapek also discussed the vision he had as CEO of turning ESPN into a centralized hub to direct consumers to where a game is streaming, no matter which company owns the rights to air it — a concept CNBC first reported in March 2023.""If I\'m on my Apple TV and I want to watch a movie, I have no idea whether it\'s on Prime or Netflix or Disney+ or Hulu or wherever it\'s at,"" Chapek said. ""', ""The way I find out is I go to Apple TV, I plug in the movie that I'm looking to watch, and they direct me exactly to where that movie is."", 'And then they connect me seamlessly without me then having to exit and go to another app to go find the show on that app.', 'I think ESPN should be that source for a central clearinghouse.', '""Adding one-stop navigation can help ESPN become the first place sports fans go to when they want to watch a game, even if Disney doesn\'t own the rights to certain sports, Chapek said.', '""How do you make yourself indispensable to the sports viewer so that they stay on with you as you evolve over to a streaming world?', 'I think solving that problem would be one big way to do it,"" Chapek said.', ""WATCH: Bob Chapek discusses ESPN's future""]",0.029201374226027976,"While Chapek said he didn't agree with the need to bring on a partner for strategic reasons, he did acknowledge Disney might do it to bring in cash to pay for Comcast's one-third stake in Hulu, which Disney has committed to buy for at least $8.6 billion.","In this articleIn his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners." How much can my landlord increase my rent and can they keep my deposit or evict me?,https://www.bbc.co.uk/news/technology-65038459,2023-03-26T23:05:39.000Z,"The average cost of renting in the UK rose by 9% in the year to February - the highest annual increase since records began in 2015. What are your rights if your landlord tries to increase your rent, keep your deposit, or evict you? It depends on your rental agreement and where you live in the UK. Most tenants in England's 4.6m privately rented homes - about one in five households - have an assured shorthold tenancy. These are usually for a fixed term of six or 12 months, or rolling - which means there's no end date. If you are on a fixed term, the landlord: If you are on a rolling agreement, the landlord: Renting rules are different in Scotland, Wales and Northern Ireland. In England, landlords can only increase your rent by what the government calls a ""fair and realistic"" amount. That means in line with average local rents. Most landlords ask for a deposit before you move in. The most they can charge is five or six weeks' rent, depending on your annual rent. If you have an assured shorthold tenancy in England or Wales, landlords must put your deposit in a government approved tenancy deposit scheme (TDP). This is to ensure you get your deposit back if you: At the end of your tenancy, the landlord must return your deposit within 10 days of you both agreeing how much you'll receive. If there's a dispute over the amount, the TDP offers a resolution service. There are different TDP schemes in Scotland and Northern Ireland. Landlords need to follow strict rules if they want a tenant to leave. If not, the eviction could be illegal, or the landlord could be guilty of harassment. In England, there are two types of eviction notice, which the landlord must provide in writing: Once the notice period ends, the landlord can start eviction proceedings through court. Landlords can apply for a so-called ""possession order"". If that is granted and you don't leave, landlords can apply for a ""warrant for possession"". It is illegal for landlords to change the locks or use force to evict a tenant. Other tenancy contracts have different rules and eviction rules also differs in Scotland, Wales and Northern Ireland. In England, the landlord must give you at least 24 hours' notice to enter. They must visit at a reasonable time of day, unless it's an emergency. The landlord might make an initial inspection after a tenant moves in. After that, visits should be at least three months apart, the National Residential Landlords Associationsays. Tenants in England have the right to ""live in a property that's safe and in a good state of repair"". Similar rules apply in Scotland, Wales, and Northern Ireland. A rented home could be unfit if, for example, the electrics are unsafe, it's damp, or there's a problem with rats or mice. There are no laws that explicitly stop landlords from refusing to rent to people with children. But since women are more likely to live with children, any such refusal in England, Wales and Scotland is likely to be indirect discrimination under the Equality Act 2010, says Shelter. The charity has a guide on how to challenge a ban on children. Those in Northern Ireland can get help from Housing Rights. A draft of the Renters (Reform) Bill in July 2022 had sought to make it illegal for a landlord to refuse tenancies to families with children, or those on benefits. However, when the bill was presented in May 2023, the measures were not included. The government said it remained committed to bringing forward legislation to make it illegal for landlords and agents to impose blanket bans on those with children and benefit claimants. The Renters (Reform) Bill is also looking to give tenants a legal right to request to keep a ""well-behaved"" pet. If passed, the landlord can only refuse on reasonable grounds - such as the size of the property. However, landlords will be able to charge a higher rent to cover the risk of pet damage. ",BBC,26/03/2023,"['The average cost of renting in the UK rose by 9% in the year to February - the highest annual increase since records began in 2015.', 'What are your rights if your landlord tries to increase your rent, keep your deposit, or evict you?', 'It depends on your rental agreement and where you live in the UK.', ""Most tenants in England's 4.6m privately rented homes - about one in five households - have an assured shorthold tenancy."", ""These are usually for a fixed term of six or 12 months, or rolling - which means there's no end date."", 'If you are on a fixed term, the landlord: If you are on a rolling agreement, the landlord: Renting rules are different in Scotland, Wales and Northern Ireland.', 'In England, landlords can only increase your rent by what the government calls a ""fair and realistic"" amount.', 'That means in line with average local rents.', 'Most landlords ask for a deposit before you move in.', ""The most they can charge is five or six weeks' rent, depending on your annual rent."", 'If you have an assured shorthold tenancy in England or Wales, landlords must put your deposit in a government approved tenancy deposit scheme (TDP).', ""This is to ensure you get your deposit back if you: At the end of your tenancy, the landlord must return your deposit within 10 days of you both agreeing how much you'll receive."", ""If there's a dispute over the amount, the TDP offers a resolution service."", 'There are different TDP schemes in Scotland and Northern Ireland.', 'Landlords need to follow strict rules if they want a tenant to leave.', 'If not, the eviction could be illegal, or the landlord could be guilty of harassment.', 'In England, there are two types of eviction notice, which the landlord must provide in writing: Once the notice period ends, the landlord can start eviction proceedings through court.', 'Landlords can apply for a so-called ""possession order"".', 'If that is granted and you don\'t leave, landlords can apply for a ""warrant for possession"".', 'It is illegal for landlords to change the locks or use force to evict a tenant.', 'Other tenancy contracts have different rules and eviction rules also differs in Scotland, Wales and Northern Ireland.', ""In England, the landlord must give you at least 24 hours' notice to enter."", ""They must visit at a reasonable time of day, unless it's an emergency."", 'The landlord might make an initial inspection after a tenant moves in.', 'After that, visits should be at least three months apart, the National Residential Landlords Associationsays.', 'Tenants in England have the right to ""live in a property that\'s safe and in a good state of repair"".', 'Similar rules apply in Scotland, Wales, and Northern Ireland.', ""A rented home could be unfit if, for example, the electrics are unsafe, it's damp, or there's a problem with rats or mice."", 'There are no laws that explicitly stop landlords from refusing to rent to people with children.', 'But since women are more likely to live with children, any such refusal in England, Wales and Scotland is likely to be indirect discrimination under the Equality Act 2010, says Shelter.', 'The charity has a guide on how to challenge a ban on children.', 'Those in Northern Ireland can get help from Housing Rights.', 'A draft of the Renters (Reform) Bill in July 2022 had sought to make it illegal for a landlord to refuse tenancies to families with children, or those on benefits.', 'However, when the bill was presented in May 2023, the measures were not included.', 'The government said it remained committed to bringing forward legislation to make it illegal for landlords and agents to impose blanket bans on those with children and benefit claimants.', 'The Renters (Reform) Bill is also looking to give tenants a legal right to request to keep a ""well-behaved"" pet.', 'If passed, the landlord can only refuse on reasonable grounds - such as the size of the property.', 'However, landlords will be able to charge a higher rent to cover the risk of pet damage.']",-0.025927376277368176,"Tenants in England have the right to ""live in a property that's safe and in a good state of repair"".","If not, the eviction could be illegal, or the landlord could be guilty of harassment." "Sotheby's leans into sports with auctions of Jordan shoes, Ali trunks and Kobe jersey",https://www.cnbc.com/2024/03/20/sothebys-holds-sports-auctions-with-jordan-ali-kobe-items.html,2024-03-20T13:47:40+0000,"Sotheby's is increasing its sports offerings, as the auction house looks to capitalize on the growing demand for sports memorabilia and draw in a younger demographic.The company on Wednesday announced its first ""Sports Week,"" which will include six live and online auctions with items from many of the biggest names in sports. The auctions will kick off April 5.Demand for athletic memorabilia has jumped in recent years, and sports has become one of Sotheby's fastest-growing categories, the auction house said.""We've seen exponential growth and interest in the category,"" Brahm Wachter, Sotheby's head of Streetwear & Modern Collectibles, told CNBC. ""Sports Week represents another example of Sotheby's commitment to engaging in collecting communities with creative sale formats and is presented with attractive estimates that caters to all sports fans and collectors alike, both seasoned and also those looking to kickstart their collection.""The market for sports collectibles is massive, and only getting bigger. Consulting group Market Decipher estimated the valuation of sports memorabilia at $26.1 billion globally in 2021. The group predicts the market will explode in the coming years, reaching $227.2 billion by 2032.The sports category saw higher demand during Covid, when the popular documentary series ""The Last Dance"" was released, according to Wachter. ""The Last Dance,"" which chronicled the story of Michael Jordan and the Chicago Bulls' quest for their sixth NBA title, boosted interest in Jordan collectibles, which then translated into other sports memorabilia.Sports has also brought a new, younger demographic into the market.Sotheby's said its average client for sports memorabilia are 20 to 40 years old, and 50% of them are new to auctions. Some sales lead to more purchases in the contemporary and watch categories, Wachter said.As a result, Sotheby's is going all in on sports. In addition to dramatically increasing its offerings, the auction house is partnering with the NBA to sell game-worn jerseys, and is in talks with a variety of other sports organizations about potential tie-ups.Earlier this year, Sotheby's sold The Dynasty Collection, a set of six individual Air Jordan sneakers worn by Jordan in the clinching games of his six career NBA Finals championships, for $8 million. The sale set a new global auction record for game-worn sneakers and became the second-highest price achieved for Jordan sports memorabilia. Sotheby's Sports Week auction highlights include a pair of Muhammad Ali's shorts from his legendary ""Thrilla in Manila"" match from 1975, considered one of the greatest boxing matches in history. The trunks are expected to sell for an estimated $4 million to $6 million, which would make them one of the most valuable items of Ali memorabilia to appear at auction.A Kobe Bryant Los Angeles Lakers jersey from Game 1 of the 2009 NBA Finals also up for auction that week is expected to fetch an estimated $1.5 million to $2.5 million. The late star scored 40 points that game, his highest-scoring NBA Finals performance.Sports Week will also include some classic sneakers worn by NBA greats. Sotheby's will offer 50 pairs of sneakers donned by some of the league's greatest players such as Jordan, Bryant, LeBron James, James Harden and Russell Westbrook.Jordan's Air Jordan 11s from Game 5 of the 1996 NBA Finals are the headliner, expected to fetch between $200,000 and $400,000. Jordan wore the sneakers as he returned from his brief retirement to lead the Bulls to a 72-10 regular season record and then their fourth NBA title.For fans looking to get their hands on more recent memorabilia, Sotheby's is offering several items from February's NBA All-Star weekend in Indianapolis. Those include a James 2024 All-Star Jersey, expected to fetch $200,000 to 300,000, along with the jerseys Stephen Curry and Sabrina Ionescu wore during their three-point competition. The Curry and Ionescu jerseys are expected to sell for between $30,000 to $500,000, and $8,000 to $12,000, respectively.The entire sports collection is expected to sell for more than $12 million, with individual items ranging from $500 to about $6 million each.",CNBC,20/03/2024,"[""Sotheby's is increasing its sports offerings, as the auction house looks to capitalize on the growing demand for sports memorabilia and draw in a younger demographic."", 'The company on Wednesday announced its first ""Sports Week,"" which will include six live and online auctions with items from many of the biggest names in sports.', ""The auctions will kick off April 5.Demand for athletic memorabilia has jumped in recent years, and sports has become one of Sotheby's fastest-growing categories, the auction house said."", '""We\'ve seen exponential growth and interest in the category,"" Brahm Wachter, Sotheby\'s head of Streetwear & Modern Collectibles, told CNBC. ""', ""Sports Week represents another example of Sotheby's commitment to engaging in collecting communities with creative sale formats and is presented with attractive estimates that caters to all sports fans and collectors alike, both seasoned and also those looking to kickstart their collection."", '""The market for sports collectibles is massive, and only getting bigger.', 'Consulting group Market Decipher estimated the valuation of sports memorabilia at $26.1 billion globally in 2021.', 'The group predicts the market will explode in the coming years, reaching $227.2 billion by 2032.The sports category saw higher demand during Covid, when the popular documentary series ""The Last Dance"" was released, according to Wachter. ""', 'The Last Dance,"" which chronicled the story of Michael Jordan and the Chicago Bulls\' quest for their sixth NBA title, boosted interest in Jordan collectibles, which then translated into other sports memorabilia.', 'Sports has also brought a new, younger demographic into the market.', ""Sotheby's said its average client for sports memorabilia are 20 to 40 years old, and 50% of them are new to auctions."", 'Some sales lead to more purchases in the contemporary and watch categories, Wachter said.', ""As a result, Sotheby's is going all in on sports."", 'In addition to dramatically increasing its offerings, the auction house is partnering with the NBA to sell game-worn jerseys, and is in talks with a variety of other sports organizations about potential tie-ups.', ""Earlier this year, Sotheby's sold The Dynasty Collection, a set of six individual Air Jordan sneakers worn by Jordan in the clinching games of his six career NBA Finals championships,for $8 million."", 'The sale set a new global auction record for game-worn sneakers and became the second-highest price achieved for Jordan sports memorabilia.', 'Sotheby\'s Sports Week auction highlights include a pair of Muhammad Ali\'s shorts from his legendary ""Thrilla in Manila"" match from 1975, considered one of the greatest boxing matches in history.', 'The trunks are expected to sell for an estimated $4 million to $6 million, which would make them one of the most valuable items of Ali memorabilia to appear at auction.', 'A Kobe Bryant Los Angeles Lakers jersey from Game 1 of the 2009 NBA Finals also up for auction that week is expected to fetch an estimated $1.5 million to $2.5 million.', 'The late star scored 40 points that game, his highest-scoring NBA Finals performance.', 'Sports Week will also include some classic sneakers worn by NBA greats.', ""Sotheby's will offer 50 pairs of sneakers donned by some of the league's greatest players such as Jordan, Bryant, LeBron James, James Harden and Russell Westbrook."", ""Jordan's Air Jordan 11s from Game 5 of the 1996 NBA Finals are the headliner, expected to fetch between $200,000 and $400,000."", 'Jordan wore the sneakers as he returned from his brief retirement to lead the Bulls to a 72-10 regular season record and then their fourth NBA title.', ""For fans looking to get their hands on more recent memorabilia, Sotheby's is offering several items from February's NBA All-Star weekend in Indianapolis."", 'Those include a James 2024 All-Star Jersey, expected to fetch $200,000 to 300,000, along with the jerseys Stephen Curry and Sabrina Ionescu wore during their three-point competition.', 'The Curry and Ionescu jerseys are expected to sell for between $30,000 to $500,000, and $8,000 to $12,000, respectively.', 'The entire sports collection is expected to sell for more than $12 million, with individual items ranging from $500 to about $6 million each.']",0.15814056287353923,"Sports Week represents another example of Sotheby's commitment to engaging in collecting communities with creative sale formats and is presented with attractive estimates that caters to all sports fans and collectors alike, both seasoned and also those looking to kickstart their collection.","In addition to dramatically increasing its offerings, the auction house is partnering with the NBA to sell game-worn jerseys, and is in talks with a variety of other sports organizations about potential tie-ups." Nigeria Binance dispute: British-Kenyan executive Nadeem Anjarwalla escapes from custody,https://www.bbc.co.uk/news/world-africa-68656119,2024-03-25T14:52:21.000Z,"An executive of the cryptocurrency firm Binance has escaped from custody in Nigeria, the authorities there say. Nadeem Anjarwalla, a British-Kenyan dual national, was arrested in February with his US colleague Tigran Gambaryan. Their detention came as the Nigerian authorities investigated alleged wrongdoing by Binance. Nigeria said that Mr Anjarwalla fled the country with a ""smuggled passport"", but a family source has said he had left by ""by lawful means"". The country is now ""working with Interpol for an international arrest warrant on the suspect"", the Office of the National Security Adviser (ONSA) said in a statement. Binance has not commented on the accusations it has been facing. ""We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,"" a Binance spokesperson said. Mr Anjarwalla, the company's Africa regional manager, and Mr Gambaryan, in charge of financial crime compliance at the firm, were arrested on 26 February after attending meetings in Nigeria's capital, Abuja, to which they had been invited by the government. The authorities reportedly demanded that they name Nigerians trading on their platform. A court granted the Economic and Financial Crimes Commission's request to detain the two executives for 14 days, but their continued detention was not authorised by the court and they were being held ""unlawfully"", a source close to the families told the BBC. They were due to appear again in court early next month. ""The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,"" the ONSA said. Nigerian media are reporting that Mr Anjarwalla asked the guards at a guest house where he was being held to allow him to go to the mosque last Friday but never returned. The authorities had reportedly confiscated his British passport but the whereabouts of his Kenyan passport were unknown. Mr Gambaryan remains in custody. Meanwhile, the Nigerian authorities have formally filed tax evasion charges against Binance at the High Court in Abuja, and named Mr Anjarwalla among the respondents. The Federal Inland Revenue Service is accusing the cryptocurrency platform of non-payment of value added tax, company income tax, failure to file tax returns and complicity in aiding customers to evade taxes through its platform. Binance has not made a statement on these charges. Last month, the Nigerian authorities clamped down on cryptocurrency firms in general over allegations they were being used for money laundering and financing terrorism. The country's central bank alleged that over $26bn (£20.6bn) worth of transactions had passed through Binance with untraceable sources. It accused the platforms of fixing exchange rates and currency speculation leading to the free-fall of the naira, the local currency, and ordered the firm to pay a fine of $10bn. Binance is understood to be one of the most popular cryptocurrency platforms in Nigeria. Africa's largest economy is battling an economic crisis worsened by the weakening of the naira, the soaring cost of living, and food inflation. ",BBC,25/03/2024,"['An executive of the cryptocurrency firm Binance has escaped from custody in Nigeria, the authorities there say.', 'Nadeem Anjarwalla, a British-Kenyan dual national, was arrested in February with his US colleague Tigran Gambaryan.', 'Their detention came as the Nigerian authorities investigated alleged wrongdoing by Binance.', 'Nigeria said that Mr Anjarwalla fled the country with a ""smuggled passport"", but a family source has said he had left by ""by lawful means"".', 'The country is now ""working with Interpol for an international arrest warrant on the suspect"", the Office of the National Security Adviser (ONSA) said in a statement.', 'Binance has not commented on the accusations it has been facing. ""', 'We were made aware that Nadeem is no longer in Nigerian custody.', 'Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,"" a Binance spokesperson said.', ""Mr Anjarwalla, the company's Africa regional manager, and Mr Gambaryan, in charge of financial crime compliance at the firm, were arrested on 26 February after attending meetings in Nigeria's capital, Abuja, to which they had been invited by the government."", 'The authorities reportedly demanded that they name Nigerians trading on their platform.', 'A court granted the Economic and Financial Crimes Commission\'s request to detain the two executives for 14 days, but their continued detention was not authorised by the court and they were being held ""unlawfully"", a source close to the families told the BBC.', 'They were due to appear again in court early next month. ""', 'The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,"" the ONSA said.', 'Nigerian media are reporting that Mr Anjarwalla asked the guards at a guest house where he was being held to allow him to go to the mosque last Friday but never returned.', 'The authorities had reportedly confiscated his British passport but the whereabouts of his Kenyan passport were unknown.', 'Mr Gambaryan remains in custody.', 'Meanwhile, the Nigerian authorities have formally filed tax evasion charges against Binance at the High Court in Abuja, and named Mr Anjarwalla among the respondents.', 'The Federal Inland Revenue Service is accusing the cryptocurrency platform of non-payment of value added tax, company income tax, failure to file tax returns and complicity in aiding customers to evade taxes through its platform.', 'Binance has not made a statement on these charges.', 'Last month, the Nigerian authorities clamped down on cryptocurrency firms in general over allegations they were being used for money laundering and financing terrorism.', ""The country's central bank alleged that over $26bn (£20.6bn) worth of transactions had passed through Binance with untraceable sources."", 'It accused the platforms of fixing exchange rates and currency speculation leading to the free-fall of the naira, the local currency, and ordered the firm to pay a fine of $10bn.', 'Binance is understood to be one of the most popular cryptocurrency platforms in Nigeria.', ""Africa's largest economy is battling an economic crisis worsened by the weakening of the naira, the soaring cost of living, and food inflation.""]",-0.19737221813447867,"Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,"" a Binance spokesperson said.","Africa's largest economy is battling an economic crisis worsened by the weakening of the naira, the soaring cost of living, and food inflation." What happened when the world’s most populous nation turned off TikTok,https://edition.cnn.com/2024/03/14/tech/india-us-tiktok-ban-analysis-intl-hnk/index.html," Updated 9:59 AM EDT, Fri March 15, 2024 ","As TikTok fans in the United States worry about losing access to the wildly-popular social media app, there are lessons they can learn from a country on the other side of the world. On Wednesday, the US House of Representatives passed a bill that could lead to a nationwide TikTok ban. While the Chinese-owned app is not disappearing from Americans’ phones anytime soon, many of its 170 million users in the country are deeply rattled. But here is what they need to know: It is possible to survive and thrive in a TikTok-less world. Just ask the planet’s most populous nation. In June 2020, after a violent clash on the India-China border that left at least 20 Indian soldiers dead, the government in New Delhi suddenly banned TikTok and several other well-known Chinese apps. “It’s important to remember that when India banned TikTok and multiple Chinese apps, the US was the first to praise the decision,” said Nikhil Pahwa, the Delhi-based founder of tech website MediaNama. “[Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it ‘will boost India’s sovereignty.’” While India’s abrupt decision shocked the country’s 200 million TikTok users, in the four years since, many have found other suitable alternatives. “The ban on Tiktok led to the creation of a multibillion dollar opportunity … A 200 million user base needed somewhere to go,” said Pahwa, adding that it was ultimately American tech companies that seized the moment with their new offerings. The ban was not without pain. Indian TikTokkers had to grapple with confusion and even anguish in the days and months that followed. By 2020, TikTok had become hugely popular among Indians looking for relief from the pressures of strict Covid-related lockdowns. “Everyone in India wants to be a Bollywood star, and TikTok made that dream possible by making people, including those in small towns, overnight stars,” said Saptarshi Ray, head of product at Viralo, a Bengaluru-based influencer marketing platform. But it didn’t take long before other avenues for their creativity and commercial ventures sprang up. A ferocious fight ensued between US tech giants and domestic startups to fill the gap. Within a week of the ban, Meta-owned Instagram cashed in by launching its TikTok copycat, Instagram Reels, in India. Google introduced its own short video offering, YouTube Shorts. Homegrown alternatives such as MX Taka Tak and Moj also began seeing a rise in popularity and an infux in funding. Those local startups soon fizzled out, however, unable to match the reach and financial firepower of the American firms, which are flourishing. Citing independent findings from consulting firm Oxford Economics, a Google spokesperson said that “the YouTube creative ecosystem” contributed roughly $2 billion to the Indian economy in 2022. According to Ray, Indian content creators swiftly moved all the old content they had shot for TikTok to Instagram Reels and YouTube Shorts. “Some Influencers were uploading seven Reels a day and gaining four to five million subscribers a year,” he said. But not everyone was able to build a significant following on these platforms. “Many users and creators slipped into a deep, dark space after the ban, and some have still not emerged from that space,” said Clyde Fernandes, executive director— artist management at Opraahfx, an influencer marketing and management firm. “The way one was gaining reach and followers on TikTok is [still] incomparable to any other platform out there at the moment,” he added. US officials and lawmakers have long voiced concerns that the Chinese government could compel TikTok’s parent ByteDance to hand over data collected from American users. Cybersecurity experts say that the national security concerns surrounding TikTok remain largely hypothetical. Indian experts, however, say its purge from national digital life hasn’t resulted in a safer space. “I am not so sure removal of TikTok makes a dent in the cybersecurity threat landscape. Unless there is a step change in user awareness about the software on their phones, or what they download from the open internet, this is unlikely to change,” said Vivan Sharan, partner at Delhi-based tech policy consulting firm Koan Advisory Group. US lawmakers also fear that the app could serve as a tool for Beijing to spread propaganda, misinformation or influence Americans. The removal of TikTok hasn’t insulated Indians from those threats. “In terms of content and disinformation environment, it is plain to see we still have to grapple with serious issues like deepfakes, etc, with or without TikTok,” Sharan said. “So overall, it is hard to see which part of the risk-landscape changes significantly, assuming TikTok was certifiably problematic.”",CNN,15/03/2024,"['As TikTok fans in the United States worry about losing access to the wildly-popular social media app, there are lessons they can learn from a country on the other side of the world.', 'On Wednesday, the US House of Representatives passed a bill that could lead to a nationwide TikTok ban.', 'While the Chinese-owned app is not disappearing from Americans’ phones anytime soon, many of its 170 million users in the country are deeply rattled.', 'But here is what they need to know: It is possible to survive and thrive in a TikTok-less world.', 'Just ask the planet’s most populous nation.', 'In June 2020, after a violent clash on the India-China border that left at least 20 Indian soldiers dead, the government in New Delhi suddenly bannedTikTokand several other well-known Chinese apps.', '“It’s important to remember that when India banned TikTok and multiple Chinese apps, the US was the first to praise the decision,” said Nikhil Pahwa, the Delhi-based founder of tech website MediaNama. “[', 'Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it ‘will boost India’s sovereignty.’”', 'While India’s abrupt decision shocked the country’s 200 million TikTok users, in the four years since, many have found other suitable alternatives.', '“The ban on Tiktok led to the creation of a multibillion dollar opportunity … A 200 million user base needed somewhere to go,” said Pahwa, adding that it was ultimately American tech companies that seized the moment with their new offerings.', 'The ban was not without pain.', 'Indian TikTokkers had to grapple with confusion and even anguish in the days and months that followed.', 'By 2020, TikTok had become hugely popular among Indians looking for relief from the pressures of strict Covid-related lockdowns.', '“Everyone in India wants to be a Bollywood star, and TikTok made that dream possible by making people, including those in small towns, overnight stars,” said Saptarshi Ray, head of product at Viralo, a Bengaluru-based influencer marketing platform.', 'But it didn’t take long before other avenues for their creativity and commercial ventures sprang up.', 'A ferocious fight ensued between US tech giants and domestic startups to fill the gap.', 'Within a week of the ban, Meta-owned Instagram cashed in bylaunching its TikTok copycat, Instagram Reels, in India.', 'Google introduced its own short video offering, YouTube Shorts.', 'Homegrown alternatives such asMX Taka TakandMoj also began seeing a rise in popularity and an infux in funding.', 'Those local startups soon fizzled out, however, unable to match the reach and financial firepower of the American firms, which are flourishing.', 'Citing independent findings from consulting firm Oxford Economics, a Google spokesperson said that “the YouTube creative ecosystem” contributed roughly $2 billion to the Indian economy in 2022.', 'According to Ray, Indian content creators swiftly moved all the old content they had shot for TikTok to Instagram Reels and YouTube Shorts. “', 'Some Influencers were uploading seven Reels a day and gaining four to five million subscribers a year,” he said.', 'But not everyone was able to build a significant following on these platforms.', '“Many users and creators slipped into a deep, dark space after the ban, and some have still not emerged from that space,” said Clyde Fernandes, executive director— artist management at Opraahfx, an influencer marketing and management firm.', '“The way one was gaining reach and followers on TikTok is [still] incomparable to any other platform out there at the moment,” he added.', 'US officials and lawmakers have longvoiced concernsthat the Chinese government could compel TikTok’s parent ByteDance to hand over data collected from American users.', 'Cybersecurity experts say that the national security concerns surrounding TikTok remain largely hypothetical.', 'Indian experts, however, say its purge from national digital life hasn’t resulted in a safer space.', '“I am not so sure removal of TikTok makes a dent in the cybersecurity threat landscape.', 'Unless there is a step change in user awareness about the software on their phones, or what they download from the open internet, this is unlikely to change,” said Vivan Sharan, partner at Delhi-based tech policyconsultingfirmKoan AdvisoryGroup.', 'US lawmakers also fear that the app could serve as a tool for Beijing to spread propaganda, misinformation or influence Americans.', 'The removal of TikTok hasn’t insulated Indians from those threats.', '“In terms of content and disinformation environment, it is plain to see we still have to grapple with serious issues like deepfakes, etc, with or without TikTok,” Sharan said. “', 'So overall, it is hard to see which part of the risk-landscape changes significantly, assuming TikTok was certifiably problematic.”']",-0.02348391029802596,"By 2020, TikTok had become hugely popular among Indians looking for relief from the pressures of strict Covid-related lockdowns.","In June 2020, after a violent clash on the India-China border that left at least 20 Indian soldiers dead, the government in New Delhi suddenly bannedTikTokand several other well-known Chinese apps." Nelson Peltz withholds votes from Disney CEO Bob Iger in proxy battle,https://www.cnbc.com/2024/03/25/nelson-peltz-withholds-votes-from-disney-ceo-bob-iger-in-proxy-battle.html,2024-03-25T14:22:59+0000,"In this articleNelson Peltz's Trian Fund Management withheld its votes from Walt Disney CEO Bob Iger when voting its shares in the bitter proxy battle the asset management firm is waging against the entertainment giant, according to sources who monitor the situation.The move is hardly shocking, given the acrimonious nature of the battle.However, it is counter to Trian's proxy recommendations, and it doesn't mesh with the public statements Peltz has made about wanting to work together with management if he is elected to the Disney board.In recent weeks, Disney has stepped up its attacks on Trian and Peltz. ""Correcting Trian's Fact With Fiction"" was the headline of a recent investor presentation from Disney, over a picture of Pinocchio with a growing nose.""Disney is stupid because I'm not trying to fire Bob Iger, I want to help him,"" Peltz recently told the Financial Times. ""We don't fire CEOs.""When asked for comment, a Trian spokesperson directed CNBC to a press release repeating its proxy recommendations and stating that Trian supports Iger as a candidate for the board and as CEO.Withholding its votes from Iger, however, is hardly a supportive move of his leadership, and it raises questions about how toxic of an environment the boardroom would be if Peltz is elected to the Disney board next month.Disney has nominated a slate of 12 directors, including Iger. Trian is officially recommending shareholders vote for Peltz and former Disney Chief Financial Officer Jay Rasulo and to withhold votes for Disney nominees Maria Elena Lagomasino and Michael Froman, who are current board members.Trian owns a relatively small position in Disney, representing about 1.5% of the outstanding shares when combined with the ownership position of former Marvel Entertainment Chairman and CEO Ike Perlmutter, who has sided with Peltz in the proxy battle. The Disney board meeting will be held April 3, and Trian could change its vote between now and then.",CNBC,25/03/2024,"[""In this articleNelson Peltz's Trian Fund Management withheld its votes from Walt Disney CEO Bob Iger when voting its shares in the bitter proxy battle the asset management firm is waging against the entertainment giant, according to sources who monitor the situation."", 'The move is hardly shocking, given the acrimonious nature of the battle.', ""However, it is counter to Trian's proxy recommendations, and it doesn't mesh with the public statements Peltz has made about wanting to work together with management if he is elected to the Disney board."", 'In recent weeks, Disney has stepped up its attacks on Trian and Peltz. ""', 'Correcting Trian\'s Fact With Fiction"" was the headline of a recent investor presentation from Disney, over a picture of Pinocchio with a growing nose.', '""Disney is stupid because I\'m not trying to fire Bob Iger, I want to help him,"" Peltz recently told the Financial Times. ""', ""We don't fire CEOs."", '""When asked for comment, a Trian spokesperson directed CNBC to a press release repeating its proxy recommendations and stating that Trian supports Iger as a candidate for the board and as CEO.Withholding its votes from Iger, however, is hardly a supportive move of his leadership, and it raises questions about how toxic of an environment the boardroom would be if Peltz is elected to the Disney board next month.', 'Disney has nominated a slate of 12 directors, including Iger.', 'Trian is officially recommending shareholders vote for Peltz and former Disney Chief Financial Officer Jay Rasulo and to withhold votes for Disney nominees Maria Elena Lagomasino and Michael Froman, who are current board members.', 'Trian owns a relatively small position in Disney, representing about 1.5% of the outstanding shares when combined with the ownership position of former Marvel Entertainment Chairman and CEO Ike Perlmutter, who has sided with Peltz in the proxy battle.', 'The Disney board meeting will be held April 3, and Trian could change its vote between now and then.']",0.03656781197397583,"Trian owns a relatively small position in Disney, representing about 1.5% of the outstanding shares when combined with the ownership position of former Marvel Entertainment Chairman and CEO Ike Perlmutter, who has sided with Peltz in the proxy battle.","The move is hardly shocking, given the acrimonious nature of the battle." "Lululemon shares plunge 16% on weak guidance, slowing North America growth",https://www.cnbc.com/2024/03/21/lululemon-lulu-earnings-q4-2023.html,2024-03-22T20:06:12+0000,"In this articleShares of Lululemon plunged on Friday after the athletic apparel retailer issued disappointing guidance and said it's seeing soft sales in the U.S., its largest market.The retailer reported holiday earnings on Thursday evening that topped expectations, but showed that its growth in North America is stagnating.Here's how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:The company's reported net income for the three-month period that ended Jan. 28 was $669.5 million, or $5.29 per share, compared with $119.8 million, or 94 cents per share, a year earlier. Sales rose to $3.21 billion, up about 16% from $2.77 billion a year earlier.Shares of Lululemon closed about 16% lower Friday. As of Friday's close, shares are down about 21% this year, significantly underperforming the S&P 500, which is up about 10% in that time.Like its peers, Lululemon has been grappling with uncertain demand and a slowdown in discretionary spending that's hit the apparel space particularly hard. Investors have watched how Lululemon performs in North America, its largest region by sales, as it laps tougher prior year comparisons and contends with consumers who are choosing experiences over goods like clothes and shoes. During the quarter, sales rose 9% in the Americas, compared to 29% growth in the year-ago period. While Lululemon is still growing in the region, the rate has slowed down significantly as Lululemon focuses on expanding internationally.""As you've heard from others in our industry, there has been a shift in the U.S. consumer behavior of late and we're navigating what has been a slower start to the year in this market,"" CEO Calvin McDonald said on a call with analysts Thursday. ""We view this as an opportunity to keep playing offense as we lean into investments that will continue our growth trajectory. Outside the U.S., our business remains strong.""McDonald added that both traffic and conversions are down in the U.S. He attributed that to a lack of products in sizes zero to four, key sizes for the U.S. customer base, and not enough colorful items.Meanwhile, international sales grew 54% on a reported basis, with sales in China growing 78% and 36% in the rest of Lululemon's markets.Comparable sales rose 12% during the quarter, just shy of the 12.3% uptick analysts had expected, according to StreetAccount.For the current quarter, Lululemon expects net revenue to be between $2.18 billion and $2.20 billion, representing growth of 9% to 10%. Analysts were expecting a forecast of $2.25 billion, or growth of 12.5%, according to LSEG.It expects diluted earnings per share to be between $2.35 and $2.40, below the $2.55 analysts had expected, according to LSEG.For the full year, it expects sales to be between $10.7 billion and $10.8 billion, compared with estimates of $10.9 billion, according to LSEG.It anticipates diluted earnings per share will be between $14 and $14.20 for the year, compared to estimates of $14.13, according to LSEG.Lululemon has long been one of the market leaders for women's athletic apparel, but the Vancouver-based company is facing more competition than ever. Newer entrants like Alo Yoga and Vuori have been nipping at Lululemon's market share, and it's had to work harder to set itself apart in the more crowded category. The retailer has been working to build out its footwear offering and grow its men's business. During the quarter, it opened its first men's store in Beijing — a key growth market for the company. In February, it debuted its first men's sneaker, CityVerse, and plans to launch new running styles for both men and women as performance sneakers continue to be a bright spot in an otherwise stagnant shoewear market. Headed into the holidays, McDonald said Black Friday was the ""single biggest day"" in the company's history and he was ""encouraged"" by the trends he was seeing at the start of the season. But the retailer's holiday-quarter outlook came in a bit short of analysts' expectations. In January, it raised that guidance after it saw sales ""balanced across channels, categories, and geographies,"" finance chief Meghan Frank said in a news release. Read the full earnings release here.",CNBC,22/03/2024,"[""In this articleShares of Lululemon plunged on Friday after the athletic apparel retailer issued disappointing guidance and said it's seeing soft sales in the U.S., its largest market."", 'The retailer reported holiday earnings on Thursday evening that topped expectations, but showed that its growth in North America is stagnating.', ""Here's how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:The company's reported net income for the three-month period that ended Jan. 28 was $669.5 million, or $5.29 per share, compared with $119.8 million, or 94 cents per share, a year earlier."", 'Sales rose to $3.21 billion, up about 16% from $2.77 billion a year earlier.', 'Shares of Lululemon closed about 16% lower Friday.', ""As of Friday's close, shares are down about 21% this year, significantly underperforming the S&P 500, which is up about 10% in that time."", ""Like its peers, Lululemon has been grappling with uncertain demand and a slowdown in discretionary spending that's hit the apparel space particularly hard."", 'Investors have watched how Lululemon performs in North America, its largest region by sales, as it laps tougher prior year comparisons and contends with consumers who are choosing experiences over goods like clothes and shoes.', 'During the quarter, sales rose 9% in the Americas, compared to 29% growth in the year-ago period.', 'While Lululemon is still growing in the region, the rate has slowed down significantly as Lululemon focuses on expanding internationally.', '""As you\'ve heard from others in our industry, there has been a shift in the U.S. consumer behavior of late and we\'re navigating what has been a slower start to the year in this market,"" CEO Calvin McDonald said on a call with analysts Thursday. ""', 'We view this as an opportunity to keep playing offense as we lean into investments that will continue our growth trajectory.', 'Outside the U.S., our business remains strong.', '""McDonald added that both traffic and conversions are down in the U.S. He attributed that to a lack of products in sizes zero to four, key sizes for the U.S. customer base, and not enough colorful items.', ""Meanwhile, international sales grew 54% on a reported basis, with sales in China growing 78% and 36% in the rest of Lululemon's markets."", 'Comparable sales rose 12% during the quarter, just shy of the 12.3% uptick analysts had expected, according to StreetAccount.', 'For the current quarter, Lululemon expects net revenue to be between $2.18 billion and $2.20 billion, representing growth of 9% to 10%.', ""Analysts were expecting a forecast of $2.25 billion, or growth of 12.5%, according to LSEG.It expects diluted earnings per share to be between $2.35 and $2.40, below the $2.55 analysts had expected, according to LSEG.For the full year, it expects sales to be between $10.7 billion and $10.8 billion, compared with estimates of $10.9 billion, according to LSEG.It anticipates diluted earnings per share will be between $14 and $14.20 for the year, compared to estimates of $14.13, according to LSEG.Lululemon has long been one of the market leaders for women's athletic apparel, but the Vancouver-based company is facing more competition than ever."", ""Newer entrants like Alo Yoga and Vuori have been nipping at Lululemon's market share, and it's had to work harder to set itself apart in the more crowded category."", ""The retailer has been working to build out its footwear offering and grow its men's business."", ""During the quarter, it opened its first men's store in Beijing — a key growth market for the company."", ""In February, it debuted its first men's sneaker, CityVerse, and plans to launch new running styles for both men and women as performance sneakers continue to be a bright spot in an otherwise stagnant shoewear market."", 'Headed into the holidays, McDonald said Black Friday was the ""single biggest day"" in the company\'s history and he was ""encouraged"" by the trends he was seeing at the start of the season.', ""But the retailer's holiday-quarter outlook came in a bit short of analysts' expectations."", 'In January, it raised that guidance after it saw sales ""balanced across channels, categories, and geographies,"" finance chief Meghan Frank said in a news release.', 'Read the full earnings release here.']",0.229511879571783,"The retailer reported holiday earnings on Thursday evening that topped expectations, but showed that its growth in North America is stagnating.","In this articleShares of Lululemon plunged on Friday after the athletic apparel retailer issued disappointing guidance and said it's seeing soft sales in the U.S., its largest market." United Airlines CEO tries to reassure customers after string of flight problems,https://www.cnbc.com/2024/03/18/united-ceo-tries-to-reassure-customers-after-string-of-flight-problems.html,2024-03-18T13:00:25+0000,"In this articleUnited Airlines CEO Scott Kirby on Monday sought to reassure customers about the carrier's safety after a series of flight problems in recent weeks.In one incident this month, a tire fell from one of the carrier's Japan-bound Boeing 777s shortly after takeoff, damaging cars in a San Francisco airport parking lot. In another, a missing panel from the plane was discovered after the older Boeing 737 landed in Oregon on Friday.""Safety is our highest priority and is at the center of everything we do,"" Kirby said in an email to customers. ""Unfortunately, in the past few weeks, our airline has experienced a number of incidents that are reminders of the importance of safety.""Kirby said the incidents, which the Federal Aviation Administration is investigating, were ""all unrelated"" but that the team is reviewing the details ""and using those insights to inform our safety training and procedures across all employee groups.""The string of recent mishaps occurred during heightened scrutiny of the aviation industry after a door plug panel blew off an Alaska Airlines' nearly new Boeing 737 Max 9 on Jan. 5.On March 8, a United 737 Max plane rolled off a Houston runway. On March 4, a United Boeing 737 that was heading to Florida from Houston returned to the airport after the engine ingested plastic bubble wrap, with video on social media showing flames coming out of the engine.United's CEO said the airline had already planned to implement changes such as ""an extra day of in-person training for all pilots starting in May and a centralized training curriculum for our new-hire maintenance technicians.""""You can be confident that every time a United plane pulls away from the gate, everyone on our team is working together to keep you safe on your trip,"" Kirby wrote.",CNBC,18/03/2024,"[""In this articleUnited Airlines CEO Scott Kirby on Monday sought to reassure customers about the carrier's safety after a series of flight problems in recent weeks."", ""In one incident this month, a tire fell from one of the carrier's Japan-bound Boeing 777s shortly after takeoff, damaging cars in a San Francisco airport parking lot."", 'In another, a missing panel from the plane was discovered after the older Boeing 737 landed in Oregon on Friday.', '""Safety is our highest priority and is at the center of everything we do,"" Kirby said in an email to customers. ""', 'Unfortunately, in the past few weeks, our airline has experienced a number of incidents that are reminders of the importance of safety.', '""Kirby said the incidents, which the Federal Aviation Administration is investigating, were ""all unrelated"" but that the team is reviewing the details ""and using those insights to inform our safety training and procedures across all employee groups.', '""The string of recent mishaps occurred during heightened scrutiny of the aviation industry after a door plug panel blew off an Alaska Airlines\' nearly new Boeing 737 Max 9 on Jan. 5.On March 8, a United 737 Max plane rolled off a Houston runway.', 'On March 4, a United Boeing 737 that was heading to Florida from Houston returned to the airport after the engine ingested plastic bubble wrap, with video on social media showing flames coming out of the engine.', 'United\'s CEO said the airline had already planned to implement changes such as ""an extra day of in-person training for all pilots starting in May and a centralized training curriculum for our new-hire maintenance technicians.', '""""You can be confident that every time a United plane pulls away from the gate, everyone on our team is working together to keep you safe on your trip,"" Kirby wrote.']",0.31422222696686974,"""""You can be confident that every time a United plane pulls away from the gate, everyone on our team is working together to keep you safe on your trip,"" Kirby wrote.","In one incident this month, a tire fell from one of the carrier's Japan-bound Boeing 777s shortly after takeoff, damaging cars in a San Francisco airport parking lot." Navy Federal says external review finds ‘non-race factors’ explained mortgage approval disparities,https://edition.cnn.com/2024/03/23/business/navy-federal-external-review-invs/index.html," Published 3:36 PM EDT, Sat March 23, 2024 ","The nation’s largest credit union said this week that an external review found it hadn’t considered race in mortgage underwriting, responding to CNN’s previous reporting about racial gaps in its mortgage approval rates. Navy Federal Credit Union, which has more than 13 million members and lends to military servicemembers, Department of Defense personnel, veterans and their families, said a review it commissioned from a civil rights lawyer “found no race-based decision making in our mortgage underwriting” and that “legitimate, non-race factors” had largely explained racial differences in approval rates. A CNN investigation published in December found that Navy Federal approved more than 75% of the White borrowers who applied for a new conventional home purchase mortgage in 2022 while approving less than 50% of Black borrowers who applied for the same type of loan, according to the most recent federal data available from the Consumer Financial Protection Bureau. The nearly 29-percentage-point gap in Navy Federal’s approval rates was the widest of any of the 50 lenders that originated the most mortgage loans in 2022. The disparity remained even after accounting for more than a dozen different variables available in public mortgage data, including applicants’ income, debt-to-income ratio and property value, CNN’s review found. In addition, an analysis by staff of the Senate Banking Committee, which 10 Democratic senators cited in a letter asking federal regulators to review Navy Federal’s mortgage lending earlier this year, also found racial disparities in Navy Federal’s mortgage approval rates based on the publicly available data. Navy Federal said Thursday that an analysis it had commissioned by lawyer Debo Adegbile, a former member of the U.S. Commission on Civil Rights, found that those racial disparities were largely accounted for by examining “all non-public underwriting factors.” “Our review found that when all relevant factors are controlled for, which CNN did not do, the difference in approval rates between Black and White borrowers falls to less than 1%,” Adegbile said in a statement. “The remaining difference in approval rates is explained by legitimate, non-race factors like income verification and incomplete credit applications.” The analysis also accounted for other non-public factors including applicants’ credit scores, the statement said. A spokesperson for Navy Federal did not respond to a request for additional details about the analysis. As CNN previously reported, applicants’ credit scores are not available in the public mortgage data, and Navy Federal declined to provide CNN any data that would make it possible to analyze credit scores or other non-public factors. CNN’s analysis only included mortgage applications that were listed in the public data as being fully submitted and either approved or denied, and excluded those that were listed as “closed for incompleteness.” And while Navy Federal’s statement said its analysis included applicants’ debt-to-income ratios, CNN’s review also took those ratios, which are available in the public mortgage data, into account. Navy Federal described Adegbile’s analysis as an “external review,” but his law firm, WilmerHale, is also defending Navy Federal in a class-action lawsuit from Black and Latino borrowers who allege the credit union discriminated against them in mortgage applications. The same day that Navy Federal released a statement about the review, other lawyers from WilmerHale filed a motion to dismiss the lawsuit, which had cited CNN’s reporting. Attorneys for the credit union argued that the “alleged statistical disparities” the plaintiffs had cited were not sufficient to prove discrimination, and that they “fail to identify any Navy Federal policy or practice that caused any disparity.” The lawyers also argued that agreements the plaintiffs had signed when they became members of the credit union had required them to give Navy Federal adequate notice before filing a lawsuit, and that most had not done so. Adegbile’s analysis was not included in Navy Federal’s motion to dismiss the case. The plaintiffs’ attorneys – Ben Crump, Adam Levitt, and Hassan Zavareei – said in a statement that it was “a classic conflict of interest” for Adegbile to review Navy Federal’s practices at the same time his firm was defending the credit union in court. “Navy Federal should immediately put out the full investigative report and data analysis so that Navy Federal’s members have an opportunity for themselves to review the findings,” the statement said. In its statement, Navy Federal also said it was “currently examining initiatives to build on our mission of expanding access to credit for our diverse community of members and continue our efforts to address systemic barriers to homeownership.”",CNN,23/03/2024,"['The nation’s largest credit union said this week that an external review found it hadn’tconsidered racein mortgage underwriting, responding to CNN’s previous reporting about racial gaps in its mortgage approval rates.', 'Navy Federal Credit Union, which has more than 13 million members and lends to military servicemembers, Department of Defense personnel, veterans and their families, said a review it commissioned from a civil rights lawyer “found no race-based decision making in our mortgage underwriting” and that “legitimate, non-race factors” had largely explained racial differences in approval rates.', 'A CNNinvestigationpublished in December found that Navy Federal approved more than 75% of the White borrowers who applied for a new conventional home purchase mortgage in 2022 while approving less than 50% of Black borrowers who applied for the same type of loan, according to the most recent federal data available from the Consumer Financial Protection Bureau.', 'The nearly 29-percentage-point gap in Navy Federal’s approval rates was the widest of any of the 50 lenders that originated the most mortgage loans in 2022.', 'The disparity remained even after accounting for more than a dozen different variables available in public mortgage data, including applicants’ income, debt-to-income ratio and property value, CNN’s review found.', 'In addition, an analysis by staff of the Senate Banking Committee, which10Democratic senators cited in a letterasking federal regulators to reviewNavy Federal’s mortgage lending earlier this year, also found racial disparities in Navy Federal’s mortgage approval rates based on the publicly available data.', 'Navy Federal said Thursday that an analysis it had commissioned by lawyer Debo Adegbile, a former member of the U.S. Commission on Civil Rights, found that those racial disparities were largely accounted for by examining “all non-public underwriting factors.”', '“Our review found that when all relevant factors are controlled for, which CNN did not do, the difference in approval rates between Black and White borrowers falls to less than 1%,” Adegbile saidin a statement. “', 'The remaining difference in approval rates is explained by legitimate, non-race factors like income verification and incomplete credit applications.”', 'The analysis also accounted for other non-public factors including applicants’ credit scores, the statement said.', 'A spokesperson for Navy Federal did not respond to a request for additional details about the analysis.', 'As CNN previously reported, applicants’ credit scores are not available in the public mortgage data, and Navy Federal declined to provide CNN any data that would make it possible to analyze credit scores or other non-public factors.', 'CNN’s analysis only included mortgage applications that were listed in the public data as being fully submitted and either approved or denied, and excluded those that were listed as “closed for incompleteness.”', 'And while Navy Federal’s statement said its analysis included applicants’ debt-to-income ratios, CNN’s review also took those ratios, which are available in the public mortgage data, into account.', 'Navy Federal described Adegbile’s analysis as an “external review,” but his law firm,WilmerHale, is also defending Navy Federal in a class-action lawsuit from Black and Latino borrowers who allege the credit union discriminated against them in mortgage applications.', 'The same day that Navy Federal released a statement about the review, other lawyers from WilmerHale filed a motion to dismiss the lawsuit, which had cited CNN’s reporting.', 'Attorneys for the credit union argued that the “alleged statistical disparities” the plaintiffs had cited were not sufficient to prove discrimination, and that they “fail to identify any Navy Federal policy or practice that caused any disparity.”', 'The lawyers also argued that agreements the plaintiffs had signed when they became members of the credit union had required them to give Navy Federal adequate notice before filing a lawsuit, and that most had not done so.', 'Adegbile’s analysis was not included in Navy Federal’s motion to dismiss the case.', 'The plaintiffs’ attorneys – Ben Crump, Adam Levitt, and Hassan Zavareei – said in a statement that it was “a classic conflict of interest” for Adegbile to review Navy Federal’s practices at the same time his firm was defending the credit union in court.', '“Navy Federal should immediately put out the full investigative report and data analysis so that Navy Federal’s members have an opportunity for themselves to review the findings,”the statementsaid.', 'In its statement, Navy Federal also said it was “currently examining initiatives to build on our mission of expanding access to credit for our diverse community of members and continue our efforts to address systemic barriers to homeownership.”']",0.24298380200830938,"The remaining difference in approval rates is explained by legitimate, non-race factors like income verification and incomplete credit applications.”","Attorneys for the credit union argued that the “alleged statistical disparities” the plaintiffs had cited were not sufficient to prove discrimination, and that they “fail to identify any Navy Federal policy or practice that caused any disparity.”" What's behind Rishi Sunak's surprising optimism?,https://www.bbc.co.uk/news/business-68634968,2024-03-22T22:02:52.000Z,"As I arrived in Downing Street to interview the prime minister earlier this week, his aides were whispering about some mysterious last minute ""artwork"" that was yet to appear. When Rishi Sunak walked into the room, a hitherto blank screen flashed with a multi-coloured line chart pointing downwards with the words ""Inflation. Halved"". Mr Sunak and his team are going to great effort to project a turnaround in the UK economy. In a wide-ranging interview on the economy, he spoke of turning points and bounceback, and insisted it's ""not just me"" who saw green shoots of recovery up and down the country. ""Wages are up. Energy bills are falling. Pensions are going up. Tax cuts are now already happening and benefiting people. That all just gives me the confidence that the future is brighter,"" he said. ""2024 will prove to be a bounce back year for the UK economy."" While his political position means the PM has no other choice than to say he expects a thumping economic recovery, I was somewhat taken aback by the extent of his sunny optimism. This buoyancy comes against a backdrop of consistently dire opinion polls for both Mr Sunak and the Conservative party, and the rapidly approaching local elections in England on 2 May. But the prime minister's eyes are focused on three other dates that month. On the 10 May, the recession could be officially declared over, when GDP figures for January to March are expected to show that the economy is growing again. On 22 May, we will get inflation figures for April, with the headline rate forecast to be below the Bank of England's 2% target for the first time in three years. But it is the next interest rate decision on 9 May that may explain Mr Sunak's sanguineness. Up until this week, the expectation has been that an interest rate cut would come in the summer or later, when the Bank was absolutely sure that the inflation shock had been defeated. But Bank of England governor Andrew Bailey went further in his interview with me on behalf of UK broadcasters on Thursday after rates were left unchanged at 5.25%, their highest for 16 years. When I asked him whey he had not cut rates yet, he replied: ""We're on the way."" He said that the Bank did not have to wait until after inflation was below 2% to cut. He also said that market predictions of two or three cuts were ""reasonable"". So a cut is now in play for May. Both the PM and the chancellor have been at pains not to actually tell the independent Bank of England what to do. That said, one can only imagine the rain dances being done in Downing Street for a series of rate cuts before a general election. Yet when I was near Crewe earlier this week and asked I asked businesses and families whether they were seeing a turnaround or even stabilisation in the cost of living crisis, I got a uniformly negative response. Shaine Ashley Tench, who runs A Star Taxis, said a recent quote to insure his fleet was in the tens of thousands. ""We can't just put that onto the customers' price, because we need to be an affordable, reliable taxi company in this area,"" he said. A second-hand car salesman told me some customers were telling him they could afford a car but were put off buying because of insurance costs. At the Wheelock Hall farm shop, a man told me the standing charge on his energy bills had gone up and his car insurance had doubled. ""It's getting worse,"" he said. A nurse conceded that her gas and electric prices had stopped rising, but said: ""It's not getting better, it's just stopped getting worse."" She then listed all the other bills that will go up in April - mobile phone, broadband, water and council tax. The psychology of personal finances is very interesting. Can people really feel a declining inflation rate as good news or is that outweighed by prices being much higher than they were? And would a household feel it more if they had smaller bills but with above-inflation price rises, or if they saw a fall in their large energy bill? In Downing Street, they point out that members of the public on radio phone-ins or TV are bound to find some areas where they feel personal finance pain. But the way this has been measured across the economy for decades has been by consumer confidence numbers. The GfK measure of overall consumer confidence is still in clear negative territory, but in new numbers for March, people's perceptions of their own personal finances over the next 12 months went positive for the first time since January 2022. It is a chart being followed very carefully by the prime minister. For the Shadow Chancellor Rachel Reeves, the situation is clear. The economic situation is grim in absolute and relative terms, and whoever wins the upcoming election will inherit the worst overall set of circumstances since World War Two. In a lecture this week, she firmly committed to get debt falling in five years' time, taking on the same self imposed straitjacket that currently constrains the Conservative government. Much was made of her comment about a 1979 moment, suggesting Thatcherite reforms. This reference, she told me, was about cutting red tape on planning to allow more new homes. But in the absence of huge government investments, the heavy lifting that would need to be done by planning reform would be huge. Each of my questions about what this might mean for public spending or tax cuts was met with an answer about the need to get growth. The opposition remains very cautious on policy details, wary of doing anything risky to endanger the precious poll lead in the months before the election. Could that really be sustained if there is a widely felt turnaround, a series of interest rate cuts and the end of the UK recession? Back in Downing Street I put to the PM that even if there was a turnaround his problem was that the mini-budget with £45bn of unfunded tax cuts had trashed the economic credibility of his party in the eyes of key swathes of the electorate, especially those who had taken on mortgages in the near-zero rate era. He replied that the economy was dealing with ""lots of different challenges"" and pointed to his pandemic furlough scheme as evidence he ""knows how to run the economy"". I also asked him if he was infuriated that plotting in his party aimed at removing him from office was coming from some of the same people who backed the mini-budget. He didn't dispute the premise of the question, laughing: ""These things don't infuriate me, because fundamentally I'm just not interested in Westminster gossip."" When I asked him if he would still be PM after the local elections in May, he laughed and said yes. He has lasted longer than the last person I asked that question, then Chancellor Kwasi Kwarteng who was fired a day later. So the recession over, inflation below target, the first of two or three interest rate cuts over summer, helping consumers over summer and offering space for pre-election tax cuts in September. The more hazily optimistic Conservative strategists might throw in Harry Kane lifting the Euros in Berlin in July. The reality is that a window for some sort of change in the economic weather does appear to be opening up. But the real question is whether it happens quickly and visibly enough to shift the dial with the electorate. ",BBC,22/03/2024,"['As I arrived in Downing Street to interview the prime minister earlier this week, his aides were whispering about some mysterious last minute ""artwork"" that was yet to appear.', 'When Rishi Sunak walked into the room, a hitherto blank screen flashed with a multi-coloured line chart pointing downwards with the words ""Inflation.', 'Halved"".', 'Mr Sunak and his team are going to great effort to project a turnaround in the UK economy.', 'In a wide-ranging interview on the economy, he spoke of turning points and bounceback, and insisted it\'s ""not just me"" who saw green shoots of recovery up and down the country. ""', 'Wages are up.', 'Energy bills are falling.', 'Pensions are going up.', 'Tax cuts are now already happening and benefiting people.', 'That all just gives me the confidence that the future is brighter,"" he said. ""', '2024 will prove to be a bounce back year for the UK economy.""', 'While his political position means the PM has no other choice than to say he expects a thumping economic recovery, I was somewhat taken aback by the extent of his sunny optimism.', 'This buoyancy comes against a backdrop of consistently dire opinion polls for both Mr Sunak and the Conservative party, and the rapidly approaching local elections in England on 2 May.', ""But the prime minister's eyes are focused on three other dates that month."", 'On the 10 May, the recession could be officially declared over, when GDP figures for January to March are expected to show that the economy is growing again.', ""On 22 May, we will get inflation figures for April, with the headline rate forecast to be below the Bank of England's 2% target for the first time in three years."", ""But it is the next interest rate decision on 9 May that may explain Mr Sunak's sanguineness."", 'Up until this week, the expectation has been that an interest rate cut would come in the summer or later, when the Bank was absolutely sure that the inflation shock had been defeated.', 'But Bank of England governor Andrew Bailey went further in his interview with me on behalf of UK broadcasters on Thursday after rates were left unchanged at 5.25%, their highest for 16 years.', 'When I asked him whey he had not cut rates yet, he replied: ""We\'re on the way.""', 'He said that the Bank did not have to wait until after inflation was below 2% to cut.', 'He also said that market predictions of two or three cuts were ""reasonable"".', 'So a cut is now in play for May.', 'Both the PM and the chancellor have been at pains not to actually tell the independent Bank of England what to do.', 'That said, one can only imagine the rain dances being done in Downing Street for a series of rate cuts before a general election.', 'Yet when I was near Crewe earlier this week and asked I asked businesses and families whether they were seeing a turnaround or even stabilisation in the cost of living crisis, I got a uniformly negative response.', 'Shaine Ashley Tench, who runs A Star Taxis, said a recent quote to insure his fleet was in the tens of thousands. ""', 'We can\'t just put that onto the customers\' price, because we need to be an affordable, reliable taxi company in this area,"" he said.', 'A second-hand car salesman told me some customers were telling him they could afford a car but were put off buying because of insurance costs.', 'At the Wheelock Hall farm shop, a man told me the standing charge on his energy bills had gone up and his car insurance had doubled. ""', 'It\'s getting worse,"" he said.', 'A nurse conceded that her gas and electric prices had stopped rising, but said: ""It\'s not getting better, it\'s just stopped getting worse.""', 'She then listed all the other bills that will go up in April - mobile phone, broadband, water and council tax.', 'The psychology of personal finances is very interesting.', 'Can people really feel a declining inflation rate as good news or is that outweighed by prices being much higher than they were?', 'And would a household feel it more if they had smaller bills but with above-inflation price rises, or if they saw a fall in their large energy bill?', 'In Downing Street, they point out that members of the public on radio phone-ins or TV are bound to find some areas where they feel personal finance pain.', 'But the way this has been measured across the economy for decades has been by consumer confidence numbers.', ""The GfK measure of overall consumer confidence is still in clear negative territory, but in new numbers for March, people's perceptions of their own personal finances over the next 12 months went positive for the first time since January 2022."", 'It is a chart being followed very carefully by the prime minister.', 'For the Shadow Chancellor Rachel Reeves, the situation is clear.', 'The economic situation is grim in absolute and relative terms, and whoever wins the upcoming election will inherit the worst overall set of circumstances since World War Two.', ""In a lecture this week, she firmly committed to get debt falling in five years' time, taking on the same self imposed straitjacket that currently constrains the Conservative government."", 'Much was made of her comment about a 1979 moment, suggesting Thatcherite reforms.', 'This reference, she told me, was about cutting red tape on planning to allow more new homes.', 'But in the absence of huge government investments, the heavy lifting that would need to be done by planning reform would be huge.', 'Each of my questions about what this might mean for public spending or tax cuts was met with an answer about the need to get growth.', 'The opposition remains very cautious on policy details, wary of doing anything risky to endanger the precious poll lead in the months before the election.', 'Could that really be sustained if there is a widely felt turnaround, a series of interest rate cuts and the end of the UK recession?', 'Back in Downing Street I put to the PM that even if there was a turnaround his problem was that the mini-budget with £45bn of unfunded tax cuts had trashed the economic credibility of his party in the eyes of key swathes of the electorate, especially those who had taken on mortgages in the near-zero rate era.', 'He replied that the economy was dealing with ""lots of different challenges"" and pointed to his pandemic furlough scheme as evidence he ""knows how to run the economy"".', 'I also asked him if he was infuriated that plotting in his party aimed at removing him from office was coming from some of the same people who backed the mini-budget.', 'He didn\'t dispute the premise of the question, laughing: ""These things don\'t infuriate me, because fundamentally I\'m just not interested in Westminster gossip.""', 'When I asked him if he would still be PM after the local elections in May, he laughed and said yes.', 'He has lasted longer than the last person I asked that question, then Chancellor Kwasi Kwarteng who was fired a day later.', 'So the recession over, inflation below target, the first of two or three interest rate cuts over summer, helping consumers over summer and offering space for pre-election tax cuts in September.', 'The more hazily optimistic Conservative strategists might throw in Harry Kane lifting the Euros in Berlin in July.', 'The reality is that a window for some sort of change in the economic weather does appear to be opening up.', 'But the real question is whether it happens quickly and visibly enough to shift the dial with the electorate.']",0.021843805070067335,"The GfK measure of overall consumer confidence is still in clear negative territory, but in new numbers for March, people's perceptions of their own personal finances over the next 12 months went positive for the first time since January 2022.","A nurse conceded that her gas and electric prices had stopped rising, but said: ""It's not getting better, it's just stopped getting worse.""" Powerball jackpot soared to an estimated $750 million after no top winners Wednesday,https://edition.cnn.com/2024/03/21/business/powerball-jackpot-drawing/index.html," Published 4:15 AM EDT, Thu March 21, 2024 ","The Powerball jackpot soared to an estimated $750 million after no ticket matched all six numbers to nab the grand prize Wednesday, according to the lottery’s website. Wednesday’s winning numbers were 13, 22, 27, 54, 66 and Powerball 9. The now larger jackpot – with an estimated cash value of $357.3 million – will be up for grabs during the next drawing on Saturday, according to Powerball’s website. The last time the Powerball jackpot was won was in January, when a ticket in Michigan scored a prize worth $842.4 million. Since then, there have been 34 consecutive drawings without a grand prize winner, according to the lottery. Although there was no jackpot winner Wednesday, 27 players won at least $50,000, according to the lottery. The overall odds of winning any Powerball prize are 1 in 24.9. But the odds of winning the jackpot are 1 in 292.2 million, according to Powerball’s website. The Powerball jackpot isn’t the only lottery prize that’s been growing this week. No one won the Mega Millions jackpot during Tuesday’s drawing, sending the grand prize for Friday’s drawing to an estimated $977 million, according to Mega Millions.",CNN,21/03/2024,"['The Powerball jackpot soared to an estimated $750 million after no ticket matched all six numbers to nab the grand prize Wednesday, according to thelottery’s website.', 'Wednesday’s winning numbers were 13, 22, 27, 54, 66 and Powerball 9.', 'The now larger jackpot – with an estimated cash value of $357.3 million – will be up for grabs during the next drawing on Saturday, according to Powerball’s website.', 'The last time the Powerball jackpot was won was in January, when a ticket in Michigan scored a prize worth $842.4 million.', 'Since then, there have been 34 consecutive drawings without a grand prize winner, according to the lottery.', 'Although there was no jackpot winner Wednesday, 27 players won at least $50,000, according tothe lottery.', 'The overall odds of winning any Powerball prize are 1 in 24.9.', 'But the odds of winning the jackpot are 1 in 292.2 million, according to Powerball’s website.', 'The Powerball jackpot isn’t the only lottery prize that’s been growing this week.', 'No one won the Mega Millions jackpot during Tuesday’s drawing, sending the grand prize for Friday’s drawing to an estimated $977 million, according toMega Millions.']",0.5869007059546159,"The last time the Powerball jackpot was won was in January, when a ticket in Michigan scored a prize worth $842.4 million.", Labour targets floating wind farms to boost energy security,https://www.bbc.co.uk/news/business-68654098,2024-03-25T10:43:46.000Z,"Labour is planning to invest in building floating wind farms off Britain's coast to reduce the UK's reliance on foreign energy. Sir Keir Starmer has announced Labour will set up a state-owned firm with a £8.3bn budget which it claims will help cut energy bills and create jobs. Labour has pledged to decarbonise the UK by 2030, while the Conservatives target 2035 for net zero energy supply. The Tories said Labour's plan was ""unfunded"" and would mean higher taxes. Ahead of a general election, Labour and the Conservatives have pledged to make the UK's energy supply more secure after the price shocks that followed Russia's invasion of Ukraine. At a port in North Wales, Sir Keir announced on Monday that Great British Energy, a publicly-owned company, will fund the construction of floating offshore wind farms. ""In an increasingly insecure world, with tyrants using energy as an economic weapon, Britain must take back control of our national energy security."" he will say. The most recent figures show that the UK imported nearly 40% of its energy in 2022. Sir Keir said: ""Here in Wales, the potential for offshore wind is enormous, and the UK Tory government is squandering it. With public investment through Great British Energy we can unlock billions more in private investment to turbocharge jobs and growth for Wales."" But Energy Secretary Claire Coutinho, said ""Sir Keir Starmer can't say what he will do to protect our energy security because he does not have a plan - he set out a 2030 decarbonisation promise, which Labour themselves costed at £28bn without a plan to pay for it."" Labour recently dropped a pledge to spend £28bn a year on environmental projects if it wins the general election, which must be held by 28 January, 2025. Sir Keir blamed the ""damage the Tories have done to the economy"" for the U-turn. But he promised to stick to other commitments including battery factories and wind farms with British-made turbines. He also stood by Labour's 2030 timeline, telling the BBC that while it was a ""difficult target"" it is ""important"", adding that it is key to have a deadline to work towards. Adrian Ramsay, co-leader of the Green Party, described Labour's £8.3bn investment plan as ""a drop in the ocean"". ""Especially since it follows the Party ditching its £28bn a year green investment plan,"" he said. ""The Green Party would invest whatever is needed to turbocharge the move to renewables, ensuring wind provides around 70% of the UK's electricity by 2030."" Floating wind farms are a relatively new means of generating renewable energy with very few in operation. The first was built off the coast of Peterhead in Scotland and consists of five wind turbines, led by Norwegian firm Equinor. Floating farms allow turbines to be placed further out at sea, where wind speeds may be greater, unlike traditional wind farms which are fixed to the seabed usually in waters less than 60 metres deep. The floating turbines off the coast of Aberdeen are kept in place using three suction anchors attached to each turbine. As well as offshore wind, Labour said they would veto any new oil and gas licences in UK waters if elected. The Conservatives plan to continue granting fossil fuel permits and have a 2035 target for net zero energy supplies. The government insists that rejecting future UK based oil and gas production will cost jobs and jeopardise UK energy security. Sir Keir said: ""So far as oil and gas licenses are concerned, we've been very clear we're not going to revoke or interfere with any existing licenses so they will be a part of the mix for decades to come. ""But clean power is the way to ensure we get lower bills for the long term, that we get the stability and security we need, so Putin can't put his boot on our throat, but crucially so we get the next generation of jobs."" The Liberal Democrats also back a 2030 target for net zero energy supplies. Lib Dem leader Ed Davey told the BBC: ""We are super-committed to fast-tracking action on net zero, not least because it could both reduce people's energy bills and make the UK more energy independent."" Plaid Cymru described Labour's plan as ""unambitious"" and ""re-hashed"". Labour first announced its plan to create the Great British Energy company in September 2022. ",BBC,25/03/2024,"[""Labour is planning to invest in building floating wind farms off Britain's coast to reduce the UK's reliance on foreign energy."", 'Sir Keir Starmer has announced Labour will set up a state-owned firm with a £8.3bn budget which it claims will help cut energy bills and create jobs.', 'Labour has pledged to decarbonise the UK by 2030, while the Conservatives target 2035 for net zero energy supply.', 'The Tories said Labour\'s plan was ""unfunded"" and would mean higher taxes.', ""Ahead of a general election, Labour and the Conservatives have pledged to make the UK's energy supply more secure after the price shocks that followed Russia's invasion of Ukraine."", 'At a port in North Wales, Sir Keir announced on Monday that Great British Energy, a publicly-owned company, will fund the construction of floating offshore wind farms. ""', 'In an increasingly insecure world, with tyrants using energy as an economic weapon, Britain must take back control of our national energy security.""', 'he will say.', 'The most recent figures show that the UK imported nearly 40% of its energy in 2022.', 'Sir Keir said: ""Here in Wales, the potential for offshore wind is enormous, and the UK Tory government is squandering it.', 'With public investment through Great British Energy we can unlock billions more in private investment to turbocharge jobs and growth for Wales.""', 'But Energy Secretary Claire Coutinho, said ""Sir Keir Starmer can\'t say what he will do to protect our energy security because he does not have a plan - he set out a 2030 decarbonisation promise, which Labour themselves costed at £28bn without a plan to pay for it.""', 'Labour recently dropped a pledge to spend £28bn a year on environmental projects if it wins the general election, which must be held by 28 January, 2025.', 'Sir Keir blamed the ""damage the Tories have done to the economy"" for the U-turn.', 'But he promised to stick to other commitments including battery factories and wind farms with British-made turbines.', 'He also stood by Labour\'s 2030 timeline, telling the BBC that while it was a ""difficult target"" it is ""important"", adding that it is key to have a deadline to work towards.', 'Adrian Ramsay, co-leader of the Green Party, described Labour\'s £8.3bn investment plan as ""a drop in the ocean"". ""', 'Especially since it follows the Party ditching its £28bn a year green investment plan,"" he said. ""', 'The Green Party would invest whatever is needed to turbocharge the move to renewables, ensuring wind provides around 70% of the UK\'s electricity by 2030.""', 'Floating wind farms are a relatively new means of generating renewable energy with very few in operation.', 'The first was built off the coast of Peterhead in Scotland and consists of five wind turbines, led by Norwegian firm Equinor.', 'Floating farms allow turbines to be placed further out at sea, where wind speeds may be greater, unlike traditional wind farms which are fixed to the seabed usually in waters less than 60 metres deep.', 'The floating turbines off the coast of Aberdeen are kept in place using three suction anchors attached to each turbine.', 'As well as offshore wind, Labour said they would veto any new oil and gas licences in UK waters if elected.', 'The Conservatives plan to continue granting fossil fuel permits and have a 2035 target for net zero energy supplies.', 'The government insists that rejecting future UK based oil and gas production will cost jobs and jeopardise UK energy security.', 'Sir Keir said: ""So far as oil and gas licenses are concerned, we\'ve been very clear we\'re not going to revoke or interfere with any existing licenses so they will be a part of the mix for decades to come. ""', 'But clean power is the way to ensure we get lower bills for the long term, that we get the stability and security we need, so Putin can\'t put his boot on our throat, but crucially so we get the next generation of jobs.""', 'The Liberal Democrats also back a 2030 target for net zero energy supplies.', 'Lib Dem leader Ed Davey told the BBC: ""We are super-committed to fast-tracking action on net zero, not least because it could both reduce people\'s energy bills and make the UK more energy independent.""', 'Plaid Cymru described Labour\'s plan as ""unambitious"" and ""re-hashed"".', 'Labour first announced its plan to create the Great British Energy company in September 2022.']",0.33300501376931835,"But Energy Secretary Claire Coutinho, said ""Sir Keir Starmer can't say what he will do to protect our energy security because he does not have a plan - he set out a 2030 decarbonisation promise, which Labour themselves costed at £28bn without a plan to pay for it.""","Sir Keir blamed the ""damage the Tories have done to the economy"" for the U-turn." Fanatics fires back at DraftKings' claims of corporate espionage in bitter legal battle,https://www.cnbc.com/2024/03/22/fanatics-fires-back-at-draftkings-claims-of-corporate-espionage.html,2024-03-22T12:57:12+0000,"In this articleSports merchandise giant Fanatics is firing back against sportsbook giant DraftKings in an ongoing legal fight over Fanatics' hiring of a top DraftKings executive.In a legal brief filed late Thursday in U.S. District Court in Massachusetts, Fanatics accuses DraftKings of distorting reality and character assassination of its former senior vice president of business development, Michael Hermalyn.In February, Hermalyn accepted a position as the president of Fanatics VIP and head of Fanatics' Los Angeles office. He reports directly to CEO Michael Rubin.DraftKings is suing Hermalyn in federal court, arguing he downloaded confidential company documents and tried to recruit other employees away from DraftKings.Fanatics alleges in its filing that DraftKings has a ""culture of retribution"" and is making an example of Hermalyn to instill fear in other ""DK employees looking to jump ship.""By its count, 186 DraftKings employees have applied to work at Fanatics since the company announced in 2021 it would launch a sportsbook, according to the filing.In the rapidly expanding sports gambling industry, Fanatics is the newcomer, late to the game but backed by billionaire Rubin and an enviable database of customers who buy team jerseys and ball caps online or sports memorabilia through its collectibles business.DraftKings ranks No. 2 in sports betting market share, behind FanDuel, which is owned by Flutter. But those two leaders dominate, with roughly 80% market share between them.And the competition is fierce — with even well-known gambling brands like Caesars and BetMGM fighting for customers' dollars. They're investing in technology to improve their apps, individualize marketing and promotions, and make deposits and withdrawals easier. Much of that is proprietary.But sports gamblers are notoriously promiscuous. They chase promotions or the best odds and many have more than one betting app downloaded on their phones.The most valuable customers, the VIPs, work with casino or sportsbook hosts, who build relationships and try to engender loyalty.DraftKings alleges Hermalyn reached out to one of DraftKings' most valuable customers to alert him that Hermalyn would be leaving his employer.""The evidence against Mr. Hermalyn is open-and-shut. He stole valuable trade secrets, destroyed evidence to cover his tracks and then lied about it all,"" said Orin Snyder, an attorney with Gibson Dunn representing DraftKings, in a statement to CNBC on Thursday.In a brief filed March 14, DraftKings details what it describes as corporate espionage. Fanatics, it insists, is trying to steal its VIPs, its valuable employees and its strategy to clone DraftKings' business.Fanatics in its response vehemently denies those allegations, and says DraftKings is intentionally distorting reality and engaging in character assassination.""To be clear, this is not a case in which an employee was hired to move a book of business from one company to another: Fanatics already has 100 million customers in the U.S., each of DK and Fanatics have tens of thousands of VIP customers, and it is well known that many if not all those customers overlap,"" the company said in its filing.DraftKings had petitioned the court to keep Hermalyn from working for Fanatics. The judge declined that petition but issued a temporary restraining order to keep Hermalyn from soliciting clients or employees from his former employer.",CNBC,22/03/2024,"[""In this articleSports merchandise giant Fanatics is firing back against sportsbook giant DraftKings in an ongoing legal fight over Fanatics' hiring of a top DraftKings executive."", 'In a legal brief filed late Thursday in U.S. District Court in Massachusetts, Fanatics accuses DraftKings of distorting reality and character assassination of its former senior vice president of business development, Michael Hermalyn.', ""In February, Hermalyn accepted a position as the president of Fanatics VIP and head of Fanatics' Los Angeles office."", 'He reports directly to CEO Michael Rubin.', 'DraftKings is suing Hermalyn in federal court, arguing he downloaded confidential company documents and tried to recruit other employees away from DraftKings.', 'Fanatics alleges in its filing that DraftKings has a ""culture of retribution"" and is making an example of Hermalyn to instill fear in other ""DK employees looking to jump ship.', '""By its count, 186 DraftKings employees have applied to work at Fanatics since the company announced in 2021 it would launch a sportsbook, according to the filing.', 'In the rapidly expanding sports gambling industry, Fanatics is the newcomer, late to the game but backed by billionaire Rubin and an enviable database of customers who buy team jerseys and ball caps online or sports memorabilia through its collectibles business.', 'DraftKings ranks No.', '2 in sports betting market share, behind FanDuel, which is owned by Flutter.', 'But those two leaders dominate, with roughly 80% market share between them.', ""And the competition is fierce — with even well-known gambling brands like Caesars and BetMGM fighting for customers' dollars."", ""They're investing in technology to improve their apps, individualize marketing and promotions, and make deposits and withdrawals easier."", 'Much of that is proprietary.', 'But sports gamblers are notoriously promiscuous.', 'They chase promotions or the best odds and many have more than one betting app downloaded on their phones.', 'The most valuable customers, the VIPs, work with casino or sportsbook hosts, who build relationships and try to engender loyalty.', ""DraftKings alleges Hermalyn reached out to one of DraftKings' most valuable customers to alert him that Hermalyn would be leaving his employer."", '""The evidence against Mr. Hermalyn is open-and-shut.', 'He stole valuable trade secrets, destroyed evidence to cover his tracks and then lied about it all,"" said Orin Snyder, an attorney with Gibson Dunn representing DraftKings, in a statement to CNBC on Thursday.', 'In a brief filed March 14, DraftKings details what it describes as corporate espionage.', ""Fanatics, it insists, is trying to steal its VIPs, its valuable employees and its strategy to clone DraftKings' business."", 'Fanatics in its response vehemently denies those allegations, and says DraftKings is intentionally distorting reality and engaging in character assassination.', '""To be clear, this is not a case in which an employee was hired to move a book of business from one company to another: Fanatics already has 100 million customers in the U.S., each of DK and Fanatics have tens of thousands of VIP customers, and it is well known that many if not all those customers overlap,"" the company said in its filing.', 'DraftKings had petitioned the court to keep Hermalyn from working for Fanatics.', 'The judge declined that petition but issued a temporary restraining order to keep Hermalyn from soliciting clients or employees from his former employer.']",0.05240356788787802,"""To be clear, this is not a case in which an employee was hired to move a book of business from one company to another: Fanatics already has 100 million customers in the U.S., each of DK and Fanatics have tens of thousands of VIP customers, and it is well known that many if not all those customers overlap,"" the company said in its filing.","In a legal brief filed late Thursday in U.S. District Court in Massachusetts, Fanatics accuses DraftKings of distorting reality and character assassination of its former senior vice president of business development, Michael Hermalyn." "Apple, Meta and Google to be investigated by the EU",https://www.bbc.co.uk/news/technology-68655093,2024-03-25T10:14:12.000Z,"The EU has announced investigations into some of the biggest tech firms in the world over uncompetitive practices. Meta, Apple, and Alphabet, which owns Google, are being looked into for potential breaches of the Digital Markets Act (DMA) introduced in 2022. If they are found to have broken the rules, the firms can face huge fines of up to 10% of their annual turnover. EU antitrust boss Margrethe Vestager and industry head Thierry Breton announced the investigations on Monday. Just six companies have obligations under the DMA, but they are also the world's largest tech firms: Alphabet, Apple, Meta, Amazon, Microsoft and ByteDance. None of the firms are actually based in Europe - five of them are in the US, while ByteDance has headquarters in Beijing. Three of them are now facing questions just two weeks after submitting their compliance reports, which will have been meticulously compiled. It comes three weeks after the EU fined Apple €1.8bn (£1.5bn) for breaking competition laws over music streaming. Meanwhile, the United States accused Apple of monopolising the smartphone market in a landmark lawsuit against the tech giant introduced last week. An Apple spokesperson says the company will constructively engage with the investigation and that they're confident that their plan complies with the Digital Markets Act. They added that their teams established a variety of mechanisms to comply with the EU's landmark legislation, as well as privacy and security protections for EU users. ""Throughout, we've demonstrated flexibility and responsiveness to the European Commission and developers, listening and incorporating their feedback,"" they said. Meanwhile a Meta spokesperson said the firm's use of subscriptions as an alternative to advertising were ""a well-established business model across many industries"". ""We designed Subscription for No Ads to address several overlapping regulatory obligations, including the DMA... we will continue to engage constructively with the Commission,"" they said. Alphabet has been approached for comment. The EU said it will investigate five different possible acts of non-compliance in its announcement: The first two of these investigations concern what is known as ""anti-steering"" - and the EU says it believes the firms are making it difficult for apps to tell users about ways to pay less for their services outside of using app stores' own payment methods. Under the third point, the EU says that Apple is obliged to allow users to easily uninstall apps on their devices, change default settings and be given ""choice screens"" to let them use different browsers or search engines. The EU says Apple's web browser ""choice screen"" does not give people enough choice, and said that some apps, such as Apple Photos, cannot be deleted at all. According to Ms Vestager, the investigation will take around 12 months to complete - though Mr Breton later clarified it could take slightly longer. ""We suspect that the suggested solutions put forward by the three companies do not fully comply with the DMA,"" she said. ""We will now investigate the companies' compliance with the DMA, to ensure open and contestable digital markets in Europe."" The five cases are consumer-focused, and highly relatable to most people who use products from these companies, which is collectively billions of people worldwide. ""We're talking about the protection of our citizens, we can't just sit around and wait,"" said Thierry Breton, of the EU's decision to act straight away. There is however another reason potentially in mind: European Parliament elections are due to be held in June 2024. Dr Rupprecht Podszun, director of the Institute for Competition Law at Heinrich Heine University in Dusseldorf, called it ""a strong signal"" from the EU. ""The DMA is designed for quick results,"" he said. ""The cases that the Commission has selected go to the heart of the business models; these are not marginal issues for the gatekeepers. ""The legal battles will be tense, but we must always bear in mind that the Court of Justice will have the last word."" ",BBC,25/03/2024,"['The EU has announced investigations into some of the biggest tech firms in the world over uncompetitive practices.', 'Meta, Apple, and Alphabet, which owns Google, are being looked into for potential breaches of the Digital Markets Act (DMA) introduced in 2022.', 'If they are found to have broken the rules, the firms can face huge fines of up to 10% of their annual turnover.', 'EU antitrust boss Margrethe Vestager and industry head Thierry Breton announced the investigations on Monday.', ""Just six companies have obligations under the DMA, but they are also the world's largest tech firms: Alphabet, Apple, Meta, Amazon, Microsoft and ByteDance."", 'None of the firms are actually based in Europe - five of them are in the US, while ByteDance has headquarters in Beijing.', 'Three of them are now facing questions just two weeks after submitting their compliance reports, which will have been meticulously compiled.', 'It comes three weeks after the EU fined Apple €1.8bn (£1.5bn) for breaking competition laws over music streaming.', 'Meanwhile, the United States accused Apple of monopolising the smartphone market in a landmark lawsuit against the tech giant introduced last week.', ""An Apple spokesperson says the company will constructively engage with the investigation and that they're confident that their plan complies with the Digital Markets Act."", 'They added that their teams established a variety of mechanisms to comply with the EU\'s landmark legislation, as well as privacy and security protections for EU users. ""', 'Throughout, we\'ve demonstrated flexibility and responsiveness to the European Commission and developers, listening and incorporating their feedback,"" they said.', 'Meanwhile a Meta spokesperson said the firm\'s use of subscriptions as an alternative to advertising were ""a well-established business model across many industries"". ""', 'We designed Subscription for No Ads to address several overlapping regulatory obligations, including the DMA... we will continue to engage constructively with the Commission,"" they said.', 'Alphabet has been approached for comment.', 'The EU said it will investigate five different possible acts of non-compliance in its announcement: The first two of these investigations concern what is known as ""anti-steering"" - and the EU says it believes the firms are making it difficult for apps to tell users about ways to pay less for their services outside of using app stores\' own payment methods.', 'Under the third point, the EU says that Apple is obliged to allow users to easily uninstall apps on their devices, change default settings and be given ""choice screens"" to let them use different browsers or search engines.', 'The EU says Apple\'s web browser ""choice screen"" does not give people enough choice, and said that some apps, such as Apple Photos, cannot be deleted at all.', 'According to Ms Vestager, the investigation will take around 12 months to complete - though Mr Breton later clarified it could take slightly longer. ""', 'We suspect that the suggested solutions put forward by the three companies do not fully comply with the DMA,"" she said. ""', 'We will now investigate the companies\' compliance with the DMA, to ensure open and contestable digital markets in Europe.""', 'The five cases are consumer-focused, and highly relatable to most people who use products from these companies, which is collectively billions of people worldwide. ""', 'We\'re talking about the protection of our citizens, we can\'t just sit around and wait,"" said Thierry Breton, of the EU\'s decision to act straight away.', 'There is however another reason potentially in mind: European Parliament elections are due to be held in June 2024.', 'Dr Rupprecht Podszun, director of the Institute for Competition Law at Heinrich Heine University in Dusseldorf, called it ""a strong signal"" from the EU. ""', 'The DMA is designed for quick results,"" he said. ""', 'The cases that the Commission has selected go to the heart of the business models; these are not marginal issues for the gatekeepers. ""', 'The legal battles will be tense, but we must always bear in mind that the Court of Justice will have the last word.""']",0.13813804867532703,An Apple spokesperson says the company will constructively engage with the investigation and that they're confident that their plan complies with the Digital Markets Act.,"The EU said it will investigate five different possible acts of non-compliance in its announcement: The first two of these investigations concern what is known as ""anti-steering"" - and the EU says it believes the firms are making it difficult for apps to tell users about ways to pay less for their services outside of using app stores' own payment methods." Apple lawsuit: US accuses tech giant of monopolising smartphone market,https://www.bbc.co.uk/news/world-us-canada-68628989,2024-03-21T14:41:20.000Z,"The US has filed a landmark lawsuit against Apple, accusing the tech giant of monopolising the smartphone market and crushing competition. In the legal action, the justice department alleges the company abused its control of the iPhone app store to ""lock in"" customers and developers. It accuses the firm of taking illegal steps to thwart apps seen as a threat and make rival products less appealing. Apple has vowed to ""vigorously"" fight the lawsuit and denies the claims. The sprawling complaint, filed at a federal court in New Jersey along with the attorneys general of 16 states, marks one of the biggest challenges to date for Apple, which has been fending off mounting complaints about its practices in recent years. It alleges that Apple used ""a series of shapeshifting rules"" and restricted access to its hardware and software, in a bid to boost its own profits while raising costs for customers and stifling innovation. ""Apple has maintained monopoly power in the smartphone market not simply by staying ahead of the competition on the merits but by violating federal anti-trust law,"" Attorney General Merrick Garland said at a press conference announcing the suit. ""Customers should not have to pay higher prices because companies break the law."" The 88-page complaint focuses on five areas where Apple allegedly abused its power. For example, the US alleges that Apple used its app review process to thwart development of so-called super apps and streaming apps, because it was worried such apps would provide less incentive for customers to stick with iPhones. It also says Apple has made it difficult to connect iPhones to smart watches made by rivals and blocked banks and other financial firms from accessing its tap-to-pay technology, allowing Apple to earn billions in fees from processing Apple Pay transactions. The complaint also focuses on the way Apple treats messages sent from rival phones, distinguishing them with green bubbles and limiting videos and other features. It says Apple's moves have created ""social stigma"" that has helped the tech giant maintain its grip on the market. Apple said customers were loyal because they were happy and that under US law it was free to choose its business partners. It has pointed to privacy and security concerns to justify its rules. The company said it would ask the court to dismiss the lawsuit, which it predicted would fail. ""We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it,"" the company said. The case will hinge on the question of motivation, said Bill Baer, a visiting fellow at Brookings who was an anti-trust official under the Obama administration. ""Anti-trust laws and the courts' interpretation of them suggest that once you're a monopolist,"" he said, ""if you do engage in behaviours that have no legitimate business justification other than to limit competition and cement your monopoly, then that is problematic."" It is the third legal action Apple has faced from the US government since 2009 and the first anti-trust challenge filed against the company under President Joe Biden's administration. If the government wins its case, it could force Apple to overhaul its current contracts and practices - or even lead to a break-up of the company. Shares in Apple fell more than 4% as investors digested the implications of the legal battle. Any potential changes would take years to materialise as the case makes its way through the courts. Vanderbilt University professor Rebecca Allensworth called the case ""a blockbuster"", following other lawsuits the justice department has brought against the major tech giants. Google, Meta and Amazon all face similar lawsuits. She said at its core, it was about increasing functionality between smartphones and making the technology and software more accessible to consumers and other businesses. ""It's not about breaking up Apple into small units or spinning off divisions,"" she said. Apple has faced a growing legal backlash over its iOS ecosystem and business practices. It is engaged in a lengthy legal battle with Epic Games, which makes Fortnite. Last month, it was fined €1.8bn (£1.5bn) by the EU for breaking competition laws over music streaming. The firm had prevented streaming services from informing users of payment options outside the Apple app store, the European Commission said. Competition commissioner Margrethe Vestager said Apple had abused its dominant position in the market for a decade, and ordered the tech giant to remove all of the restrictions. Apple said it would appeal against the decision. Anat Alon-Beck, a business law professor at Case Western Reserve University in Ohio, said the justice department's new lawsuit was ""far more extensive"" than its previous legal challenges in the EU. ""It's not just about the 30% app store fee, but about the core unfair practices of Apple,"" she said, adding that it was ""about time"" that the DOJ took action. ""Apple systematically excludes rivals from the Apple ecosystem. By doing that, Apple is hurting so many startup businesses, stakeholders, customers and, in my opinion, its shareholders,"" she said. According to the justice department, Apple's share of the US smartphone market exceeds 70%, and its share of the broader smartphone market exceeds 65%. ",BBC,21/03/2024,"['The US has filed a landmark lawsuit against Apple, accusing the tech giant of monopolising the smartphone market and crushing competition.', 'In the legal action, the justice department alleges the company abused its control of the iPhone app store to ""lock in"" customers and developers.', 'It accuses the firm of taking illegal steps to thwart apps seen as a threat and make rival products less appealing.', 'Apple has vowed to ""vigorously"" fight the lawsuit and denies the claims.', 'The sprawling complaint, filed at a federal court in New Jersey along with the attorneys general of 16 states, marks one of the biggest challenges to date for Apple, which has been fending off mounting complaints about its practices in recent years.', 'It alleges that Apple used ""a series of shapeshifting rules"" and restricted access to its hardware and software, in a bid to boost its own profits while raising costs for customers and stifling innovation. ""', 'Apple has maintained monopoly power in the smartphone market not simply by staying ahead of the competition on the merits but by violating federal anti-trust law,"" Attorney General Merrick Garland said at a press conference announcing the suit. ""', 'Customers should not have to pay higher prices because companies break the law.""', 'The 88-page complaint focuses on five areas where Apple allegedly abused its power.', 'For example, the US alleges that Apple used its app review process to thwart development of so-called super apps and streaming apps, because it was worried such apps would provide less incentive for customers to stick with iPhones.', 'It also says Apple has made it difficult to connect iPhones to smart watches made by rivals and blocked banks and other financial firms from accessing its tap-to-pay technology, allowing Apple to earn billions in fees from processing Apple Pay transactions.', 'The complaint also focuses on the way Apple treats messages sent from rival phones, distinguishing them with green bubbles and limiting videos and other features.', 'It says Apple\'s moves have created ""social stigma"" that has helped the tech giant maintain its grip on the market.', 'Apple said customers were loyal because they were happy and that under US law it was free to choose its business partners.', 'It has pointed to privacy and security concerns to justify its rules.', 'The company said it would ask the court to dismiss the lawsuit, which it predicted would fail. ""', 'We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it,"" the company said.', 'The case will hinge on the question of motivation, said Bill Baer, a visiting fellow at Brookings who was an anti-trust official under the Obama administration. ""', 'Anti-trust laws and the courts\' interpretation of them suggest that once you\'re a monopolist,"" he said, ""if you do engage in behaviours that have no legitimate business justification other than to limit competition and cement your monopoly, then that is problematic.""', ""It is the third legal action Apple has faced from the US government since 2009 and the first anti-trust challenge filed against the company under President Joe Biden's administration."", 'If the government wins its case, it could force Apple to overhaul its current contracts and practices - or even lead to a break-up of the company.', 'Shares in Apple fell more than 4% as investors digested the implications of the legal battle.', 'Any potential changes would take years to materialise as the case makes its way through the courts.', 'Vanderbilt University professor Rebecca Allensworth called the case ""a blockbuster"", following other lawsuits the justice department has brought against the major tech giants.', 'Google, Meta and Amazon all face similar lawsuits.', 'She said at its core, it was about increasing functionality between smartphones and making the technology and software more accessible to consumers and other businesses. ""', 'It\'s not about breaking up Apple into small units or spinning off divisions,"" she said.', 'Apple has faced a growing legal backlash over its iOS ecosystem and business practices.', 'It is engaged in a lengthy legal battle with Epic Games, which makes Fortnite.', 'Last month, it was fined €1.8bn (£1.5bn) by the EU for breaking competition laws over music streaming.', 'The firm had prevented streaming services from informing users of payment options outside the Apple app store, the European Commission said.', 'Competition commissioner Margrethe Vestager said Apple had abused its dominant position in the market for a decade, and ordered the tech giant to remove all of the restrictions.', 'Apple said it would appeal against the decision.', 'Anat Alon-Beck, a business law professor at Case Western Reserve University in Ohio, said the justice department\'s new lawsuit was ""far more extensive"" than its previous legal challenges in the EU. ""', 'It\'s not just about the 30% app store fee, but about the core unfair practices of Apple,"" she said, adding that it was ""about time"" that the DOJ took action. ""', 'Apple systematically excludes rivals from the Apple ecosystem.', 'By doing that, Apple is hurting so many startup businesses, stakeholders, customers and, in my opinion, its shareholders,"" she said.', ""According to the justice department, Apple's share of the US smartphone market exceeds 70%, and its share of the broader smartphone market exceeds 65%.""]",-0.005586439338331192,Apple said customers were loyal because they were happy and that under US law it was free to choose its business partners.,It accuses the firm of taking illegal steps to thwart apps seen as a threat and make rival products less appealing. Banks are in limbo without a crucial lifeline. Here's where cracks may appear next,https://www.cnbc.com/2024/03/19/where-cracks-in-the-banking-sector-may-appear-without-more-ma.html,2024-03-19T22:13:09+0000,"In this articleThe forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle.As the memory of last year's regional banking crisis begins to fade, it's easy to believe the industry is in the clear. But the high interest rates that caused the collapse of Silicon Valley Bank and its peers in 2023 are still at play.After hiking rates 11 times through July, the Federal Reserve has yet to start cutting its benchmark. As a result, hundreds of billions of dollars of unrealized losses on low-interest bonds and loans remain buried on banks' balance sheets. That, combined with potential losses on commercial real estate, leaves swaths of the industry vulnerable.Of about 4,000 U.S. banks analyzed by consulting firm Klaros Group, 282 institutions have both high levels of commercial real estate exposure and large unrealized losses from the rate surge — a potentially toxic combo that may force these lenders to raise fresh capital or engage in mergers.  The study, based on regulatory filings known as call reports, screened for two factors: Banks where commercial real estate loans made up over 300% of capital, and firms where unrealized losses on bonds and loans pushed capital levels below 4%.Klaros declined to name the institutions in its analysis out of fear of inciting deposit runs.But there's only one company with more than $100 billion in assets found in this analysis, and, given the factors of the study, it's not hard to determine: New York Community Bank, the real estate lender that avoided disaster earlier this month with a $1.1 billion capital injection from private equity investors led by ex-Treasury Secretary Steven Mnuchin.Most of the banks deemed to be potentially challenged are community lenders with less than $10 billion in assets. Just 16 companies are in the next size bracket that includes regional banks — between $10 billion and $100 billion in assets — though they collectively hold more assets than the 265 community banks combined.Behind the scenes, regulators have been prodding banks with confidential orders to improve capital levels and staffing, according to Klaros co-founder Brian Graham.""If there were just 10 banks that were in trouble, they would have all been taken down and dealt with,"" Graham said. ""When you've got hundreds of banks facing these challenges, the regulators have to walk a bit of a tightrope.""These banks need to either raise capital, likely from private equity sources as NYCB did, or merge with stronger banks, Graham said. That's what PacWest resorted to last year; the California lender was acquired by a smaller rival after it lost deposits in the March tumult.Banks can also choose to wait as bonds mature and roll off their balance sheets, but doing so means years of underearning rivals, essentially operating as ""zombie banks"" that don't support economic growth in their communities, Graham said. That strategy also puts them at risk of being swamped by rising loan losses.Federal Reserve Chair Jerome Powell acknowledged this month that commercial real estate losses are likely to capsize some small and medium-sized banks.""This is a problem we'll be working on for years more, I'm sure. There will be bank failures,"" Powell told lawmakers. ""We're working with them ... I think it's manageable, is the word I would use.""There are other signs of mounting stress among smaller banks. In 2023, 67 lenders had low levels of liquidity — meaning the cash or securities that can be quickly sold when needed — up from nine institutions in 2021, Fitch analysts said in a recent report. They ranged in size from $90 billion in assets to under $1 billion, according to Fitch.And regulators have added more companies to their ""Problem Bank List"" of companies with the worst financial or operational ratings in the past year. There are 52 lenders with a combined $66.3 billion in assets on that list, 13 more than a year earlier, according to the Federal Deposit Insurance Corporation.""The bad news is, the problems faced by the banking system haven't magically gone away,"" Graham said. ""The good news is that, compared to other banking crises I've worked through, this isn't a scenario where hundreds of banks are insolvent.""After the implosion of SVB last March, the second-largest U.S. bank failure at the time, followed by Signature's failure days later and that of First Republic in May, many in the industry predicted a wave of consolidation that could help banks deal with higher funding and compliance costs.But deals have been few and far between. There were fewer than 100 bank acquisitions announced last year, according to advisory firm Mercer Capital. The total deal value of $4.6 billion was the lowest since 1990, it found.One big hang-up: Bank executives are uncertain that their deals will pass regulatory muster. Timelines for approval have lengthened, especially for larger banks, and regulators have killed recent deals, such as the $13.4 billion acquisition of First Horizon by Toronto-Dominion Bank.A planned merger between Capital One and Discovery, announced in February, was promptly met with calls from some lawmakers to block the transaction.""Banks are in this pressure cooker,"" said Chris Caulfield, senior partner at consulting firm West Monroe. ""Regulators are playing a bigger role in what M&A can occur, but at the same time, they're making it much harder for banks, especially smaller ones, to be able to turn a profit.""Despite the slow environment for deals, leaders of banks all along the size spectrum recognize the need to consider mergers, according to an investment banker at a top-three global advisory firm.Discussion levels with bank CEOs are now the highest in his 23-year career, said the banker, who requested anonymity to speak about clients.""Everyone's talking, and there's acknowledgment consolidation has to happen,"" said the banker. ""The industry has structurally changed from a profitability standpoint, because of regulation and with deposits now being something that won't ever cost zero again.""Another reason to expect heightened merger activity is the age of bank leaders. A third of regional bank CEOs are older than 65, beyond the group's average retirement age, according to 2023 data from executive search firm Spencer Stuart. That could lead to a wave of departures in coming years, the firm said.""You've got a lot of folks who are tired,"" said Frank Sorrentino, an investment banker at boutique advisory Stephens. ""It's been a tough industry, and there are a lot of willing sellers who want to transact, whether that's an outright sale or a merger.""Sorrentino was involved in the January merger between FirstSun and HomeStreet, a Seattle-based bank whose shares plunged last year after a funding squeeze. He predicts a surge in merger activity from lenders between $3 billion and $20 billion in assets as smaller firms look to scale up.One deterrent to mergers is that bond and loan markdowns have been too deep, which would erode capital for the combined entity in a deal because losses on some portfolios have to be realized in a transaction. That has eased since late last year as bond yields dipped from 16-year highs.That, along with recovering bank stocks, will lead to more activity this year, Sorrentino said. Other bankers said that larger deals are more likely to be announced after the U.S. presidential election, which could usher in a new set of leaders in key regulatory roles.Easing the path for a wave of U.S. bank mergers would strengthen the system and create challengers to the megabanks, according to Mike Mayo, the veteran bank analyst and former Fed employee.""It should be game-on for bank mergers, especially the strong buying the weak,"" Mayo said. ""The merger restrictions on the industry have been the equivalent of the Jamie Dimon Protection Act.""",CNBC,19/03/2024,"['In this articleThe forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle.', ""As the memory of last year's regional banking crisis begins to fade, it's easy to believe the industry is in the clear."", 'But the high interest rates that caused the collapse of Silicon Valley Bank and its peers in 2023 are still at play.', 'After hiking rates 11 times through July, the Federal Reserve has yet to start cutting its benchmark.', ""As a result, hundreds of billions of dollars of unrealized losses on low-interest bonds and loans remain buried on banks' balance sheets."", 'That, combined with potential losses on commercial real estate, leaves swaths of the industry vulnerable.', 'Of about 4,000 U.S. banks analyzed by consulting firm Klaros Group, 282 institutions have both high levels of commercial real estate exposure and large unrealized losses from the rate surge — a potentially toxic combo that may force these lenders to raise fresh capital or engage in mergers.', 'The study, based on regulatory filings known as call reports, screened for two factors: Banks where commercial real estate loans made up over 300% of capital, and firms where unrealized losses on bonds and loans pushed capital levels below 4%.Klaros declined to name the institutions in its analysis out of fear of inciting deposit runs.', ""But there's only one company with more than $100 billion in assets found in this analysis, and, given the factors of the study, it's not hard to determine: New York Community Bank, the real estate lender that avoided disaster earlier this month with a $1.1 billion capital injection from private equity investors led by ex-Treasury Secretary Steven Mnuchin."", 'Most of the banks deemed to be potentially challenged are community lenders with less than $10 billion in assets.', 'Just 16 companies are in the next size bracket that includes regional banks — between $10 billion and $100 billion in assets — though they collectively hold more assets than the 265 community banks combined.', 'Behind the scenes, regulators have been prodding banks with confidential orders to improve capital levels and staffing, according to Klaros co-founder Brian Graham.', '""If there were just 10 banks that were in trouble, they would have all been taken down and dealt with,"" Graham said. ""', ""When you've got hundreds of banks facing these challenges, the regulators have to walk a bit of a tightrope."", '""These banks need to either raise capital, likely from private equity sources as NYCB did, or merge with stronger banks, Graham said.', ""That's what PacWest resorted to last year; the California lender was acquired by a smaller rival after it lost deposits in the March tumult."", 'Banks can also choose to wait as bonds mature and roll off their balance sheets, but doing so means years of underearning rivals, essentially operating as ""zombie banks"" that don\'t support economic growth in their communities, Graham said.', 'That strategy also puts them at risk of being swamped by rising loan losses.', 'Federal Reserve Chair Jerome Powell acknowledged this month that commercial real estate losses are likely to capsize some small and medium-sized banks.', '""This is a problem we\'ll be working on for years more, I\'m sure.', 'There will be bank failures,"" Powell told lawmakers. ""', ""We're working with them ... I think it's manageable, is the word I would use."", '""There are other signs of mounting stress among smaller banks.', 'In 2023, 67 lenders had low levels of liquidity — meaning the cash or securities that can be quickly sold when needed — up from nine institutions in 2021, Fitch analysts said in a recent report.', 'They ranged in size from $90 billion in assets to under $1 billion, according to Fitch.', 'And regulators have added more companies to their ""Problem Bank List"" of companies with the worst financial or operational ratings in the past year.', 'There are 52 lenders with a combined $66.3 billion in assets on that list, 13 more than a year earlier, according to the Federal Deposit Insurance Corporation.', '""The bad news is, the problems faced by the banking system haven\'t magically gone away,"" Graham said. ""', ""The good news is that, compared to other banking crises I've worked through, this isn't a scenario where hundreds of banks are insolvent."", '""After the implosion of SVB last March, the second-largest U.S. bank failure at the time, followed by Signature\'s failure days later and that of First Republic in May, many in the industry predicted a wave of consolidation that could help banks deal with higher funding and compliance costs.', 'But deals have been few and far between.', 'There were fewer than 100 bank acquisitions announced last year, according to advisory firm Mercer Capital.', 'The total deal value of $4.6 billion was the lowest since 1990, it found.', 'One big hang-up: Bank executives are uncertain that their deals will pass regulatory muster.', 'Timelines for approval have lengthened, especially for larger banks, and regulators have killed recent deals, such as the $13.4 billion acquisition of First Horizon by Toronto-Dominion Bank.', 'A planned mergerbetween Capital One and Discovery, announced in February, was promptly met with calls from some lawmakers to block the transaction.', '""Banks are in this pressure cooker,"" said Chris Caulfield, senior partner at consulting firm West Monroe. ""', ""Regulators are playing a bigger role in what M&A can occur, but at the same time, they're making it much harder for banks, especially smaller ones, to be able to turn a profit."", '""Despite the slow environment for deals, leaders of banks all along the size spectrum recognize the need to consider mergers, according to an investment banker at a top-three global advisory firm.', 'Discussion levels with bank CEOs are now the highest in his 23-year career, said the banker, who requested anonymity to speak about clients.', '""Everyone\'s talking, and there\'s acknowledgment consolidation has to happen,"" said the banker. ""', ""The industry has structurally changed from a profitability standpoint, because of regulation and with deposits now being something that won't ever cost zero again."", '""Another reason to expect heightened merger activity is the age of bank leaders.', ""A third of regional bank CEOs are older than 65, beyond the group's average retirement age, according to 2023 data from executive search firm Spencer Stuart."", 'That could lead to a wave of departures in coming years, the firm said.', '""You\'ve got a lot of folks who are tired,"" said Frank Sorrentino, an investment banker at boutique advisory Stephens. ""', ""It's been a tough industry, and there are a lot of willing sellers who want to transact, whether that's an outright sale or a merger."", '""Sorrentino was involved in the January merger between FirstSun and HomeStreet, a Seattle-based bank whose shares plunged last year after a funding squeeze.', 'He predicts a surge in merger activity from lenders between $3 billion and $20 billion in assets as smaller firms look to scale up.', 'One deterrent to mergers is that bond and loan markdowns have been too deep, which would erode capital for the combined entity in a deal because losses on some portfolios have to be realized in a transaction.', 'That has eased since late last year as bond yields dipped from 16-year highs.', 'That, along with recovering bank stocks, will lead to more activity this year, Sorrentino said.', 'Other bankers said that larger deals are more likely to be announced after the U.S. presidential election, which could usher in a new set of leaders in key regulatory roles.', 'Easing the path for a wave of U.S. bank mergers would strengthen the system and create challengers to the megabanks, according to Mike Mayo, the veteran bank analyst and former Fed employee.', '""It should be game-on for bank mergers, especially the strong buying the weak,"" Mayo said. ""', 'The merger restrictions on the industry have been the equivalent of the Jamie Dimon Protection Act.""']",-0.0500367140412572,"Banks can also choose to wait as bonds mature and roll off their balance sheets, but doing so means years of underearning rivals, essentially operating as ""zombie banks"" that don't support economic growth in their communities, Graham said.","And regulators have added more companies to their ""Problem Bank List"" of companies with the worst financial or operational ratings in the past year." It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion," 11:21 AM EST, Wed February 14, 2024 ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point. Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower. This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it. With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon. To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story. Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added. Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion. But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so. If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible. But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply. When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel. However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer. To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order. Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer. Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment. With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax. Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer. Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back. Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access. Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year. Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon. Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points. "Here's how much people are willing to spend on weight loss drugs, according to a new survey",https://www.cnbc.com/2024/03/23/weight-loss-drug-cost-how-much-people-are-willing-to-spend.html,2024-03-23T14:11:27+0000,"In this articleDemand for weight loss drugs is booming in the U.S. despite their limited insurance coverage and roughly $1,000 monthly price tags before discounts. But some patients are willing to pay more out of pocket for those treatments than others — and that desire is strongly correlated to their annual income.That's according to a recent survey from Evercore ISI focused on GLP-1s, a new class of medications used to treat Type 2 diabetes and obesity. Between Jan. 24 and Feb. 20, the firm surveyed more than 600 participants who are currently taking a GLP-1, considering the therapy or have taken it in the past but no longer do. The findings on how much patients are willing to spend underscore concerns about equity in access to the breakthrough drugs while insurance coverage is sparse.GLP-1s include Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes counterpart Ozempic, along with Eli Lilly's popular weight loss treatment Zepbound and diabetes injection Mounjaro. A monthly package of a GLP-1 costs between $900 and $1,350 before insurance and other rebates. Both Novo Nordisk and Eli Lilly have savings programs that aim to reduce out-of-pocket costs for weight loss drugs, regardless of whether a patient has commercial insurance coverage. The majority — nearly 60% — of people surveyed with annual incomes of more than $250,000 said the maximum price they are willing to pay out of pocket for a GLP-1 is more than $300 per month. Only about 4% of people with annual incomes of less than $75,000 said the same thing. Of that group, 64% said the maximum price they are willing to pay out of pocket for a GLP-1 is $50 per month or less. The maximum people currently on a GLP-1 said they are willing to pay out of pocket per month was roughly in line with what they actually paid for treatment, according to the survey. The highest price respondents would accept paying skewed lower among those who used to take a GLP-1 or are thinking of taking the drug. More than half of people currently taking a GLP-1 said they are paying a monthly price of $50 or less out of pocket. Nearly 75% of those who used to take one of the drugs said they spent the same amount. A small share of both groups paid more than $750 out of pocket per month for a GLP-1.The survey also asked respondents how long they stayed on the drugs.Notably, more than 80% of those who used to take a treatment were only on a therapy for 12 months or less. Some people stopped due to cost, while others stopped a treatment because they hit their weight loss goal or experienced side effects.That premature stoppage by some patients is one concern of certain insurers hesitant to cover them.Still, nearly half of people who are currently taking GLP-1s said they intend to stay on the drugs permanently. Only 10% of those thinking of taking a treatment said the same thing. Of that group, more than 70% said they intend to stay on a GLP-1 until they reach their weight loss goal.The survey also asked participants whether they would restart taking a GLP-1 if they regain weight after stopping the drug. The majority of patients across all groups — those currently on a GLP-1, thinking of it, or who used to take one — said ""yes."" Among those who used to take a GLP-1, 42% said they gained ""some"" weight back after stopping treatment. Around 13% said they gained most of it back, while 23% said they gained all of it back. Another 23% said they remained at a lower weight after stopping the drug.That weight regain is consistent with what has been observed in some clinical trials on drugs such as Wegovy and Zepbound.Another part of the survey asked participants about whether taking a GLP-1 affected their eating and drinking habits. More than 70% of respondents reporting eating less when taking a GLP-1, regardless of whether they have pre-existing conditions. That refers to other health problems, such as diabetes, asthma or high blood pressure.The survey finding is no surprise: GLP-1s work by mimicking a hormone produced in the gut to suppress a person's appetite and regulate blood sugar. Some treatments, such as Zepbound, mimic more than one gut hormone.More than half of those without preexisting conditions said they drank less alcohol when taking a GLP-1. Around 27% said the treatment had no effect on their alcohol consumption, while 22% said they abstain from drinking. A greater share — 51% — of those with preexisting conditions said they abstain from alcohol. The remainder said they consumed less alcohol when taking a GLP-1. Several studies have demonstrated that certain GLP-1s curb alcohol intake in rodents and monkeys. But more research is needed in humans.-- CNBC's Gabriel Cortés contributed to this report",CNBC,23/03/2024,"['In this articleDemand for weight loss drugs is booming in the U.S. despite their limited insurance coverage and roughly $1,000 monthly price tags before discounts.', 'But some patients are willing to pay more out of pocket for those treatments than others — and that desire is strongly correlated to their annual income.', ""That's according to a recent survey from Evercore ISI focused on GLP-1s, a new class of medications used to treat Type 2 diabetes and obesity."", 'Between Jan. 24 and Feb. 20, the firm surveyed more than 600 participants who are currently taking a GLP-1, considering the therapy or have taken it in the past but no longer do.', 'The findings on how much patients are willing to spend underscore concerns about equity in access to the breakthrough drugs while insurance coverage is sparse.', ""GLP-1s include Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes counterpart Ozempic, along with Eli Lilly's popular weight loss treatment Zepbound and diabetes injection Mounjaro."", 'A monthly package of a GLP-1 costs between $900 and $1,350 before insurance and other rebates.', 'Both Novo Nordisk and Eli Lilly have savings programs that aim to reduce out-of-pocket costs for weight loss drugs, regardless of whether a patient has commercial insurance coverage.', 'The majority — nearly 60% — of people surveyed with annual incomes of more than $250,000 said the maximum price they are willing to pay out of pocket for a GLP-1 is more than $300 per month.', 'Only about 4% of people with annual incomes of less than $75,000 said the same thing.', 'Of that group, 64% said the maximum price they are willing to pay out of pocket for a GLP-1 is $50 per month or less.', 'The maximum people currently on a GLP-1 said they are willing to pay out of pocket per month was roughly in line with what they actually paid for treatment, according to the survey.', 'The highest price respondents would accept paying skewed lower among those who used to take a GLP-1 or are thinking of taking the drug.', 'More than half of people currently taking a GLP-1 said they are paying a monthly price of $50 or less out of pocket.', 'Nearly 75% of those who used to take one of the drugs said they spent the same amount.', 'A small share of both groups paid more than $750 out of pocket per month for a GLP-1.The survey also asked respondents how long they stayed on the drugs.', 'Notably, more than 80% of those who used to take a treatment were only on a therapy for 12 months or less.', 'Some people stopped due to cost, while others stopped a treatment because they hit their weight loss goal or experienced side effects.', 'That premature stoppage by some patients is one concern of certain insurers hesitant to cover them.', 'Still, nearly half of people who are currently taking GLP-1s said they intend to stay on the drugs permanently.', 'Only 10% of those thinking of taking a treatment said the same thing.', 'Of that group, more than 70% said they intend to stay on a GLP-1 until they reach their weight loss goal.', 'The survey also asked participants whether they would restart taking a GLP-1 if they regain weight after stopping the drug.', 'The majority of patients across all groups — those currently on a GLP-1, thinking of it, or who used to take one — said ""yes.', '""Among those who used to take a GLP-1, 42% said they gained ""some"" weight back after stopping treatment.', 'Around 13% said they gained most of it back, while 23% said they gained all of it back.', 'Another 23% said they remained at a lower weight after stopping the drug.', 'That weight regain is consistent with what has been observed in some clinical trials on drugs such as Wegovy and Zepbound.', 'Another part of the survey asked participants about whether taking a GLP-1 affected their eating and drinking habits.', 'More than 70% of respondents reporting eating less when taking a GLP-1, regardless of whether they have pre-existing conditions.', 'That refers to other health problems, such as diabetes, asthma or high blood pressure.', ""The survey finding is no surprise: GLP-1s work by mimicking a hormone produced in the gut to suppress a person's appetite and regulate blood sugar."", 'Some treatments, such as Zepbound, mimic more than one gut hormone.', 'More than half of those without preexisting conditions said they drank less alcohol when taking a GLP-1.', 'Around 27% said the treatment had no effect on their alcohol consumption, while 22% said they abstain from drinking.', 'A greater share — 51% — of those with preexisting conditions said they abstain from alcohol.', 'The remainder said they consumed less alcohol when taking a GLP-1.Several studies have demonstrated that certain GLP-1s curb alcohol intake in rodents and monkeys.', ""But more research is needed in humans.-- CNBC's Gabriel Cortés contributed to this report""]",0.015406454203778537,But some patients are willing to pay more out of pocket for those treatments than others — and that desire is strongly correlated to their annual income.,"Some people stopped due to cost, while others stopped a treatment because they hit their weight loss goal or experienced side effects." ‘I want to help people fly – and keep them safe’,https://www.bbc.co.uk/news/business-68489226,2024-03-22T00:15:02.000Z,"Student Pooja Umashankar clearly remembers when she first felt the roar of an aircraft taking off. She was 10 years old and travelling from Sri Lanka to the UK with her family. Through the window near her seat, she could see hundreds of tiny lights on the ground below. ""It's just a piece of metal,"" she remembers marvelling, ""And it's flying now."" Today, a decade and a half later, Miss Umashankar has returned from Sri Lanka to study aircraft maintenance engineering at the University of South Wales. ""I knew that I wanted to do something that nobody had ever done in my town,"" she says. The aviation industry can't find enough people like Miss Umashankar. For years, airlines and engineering firms have struggled to hire maintenance engineers, and there is now a global shortage numbering in the tens of thousands. This is a huge problem not least because aviation is expected to balloon in the coming decades. Industry estimates suggest that roughly 700,000 engineers will have to enter the profession between now and 2040 in order to satisfy demand. Plus, after Boeing's recent 737 Max 9 door blowout - currently the subject of an investigation - engineers have been in especially high demand to perform increased checks on 737 Max aircraft of various models. And trade association ADS says there are 10,000 vacancies in total across the UK's aerospace, defence, security and space industries. Miss Umashankar, who is now nearing the end of her three-year degree, says she wants to be a part of the solution. ""What motivates me is to… help people travel,"" she says. ""I want to help them fly - while being safe."" She says she has especially enjoyed working with electronics during her course but was not able to find an on-the-job training placement. However, Miss Umashankar has now started applying for full-time positions. She hopes to work for an employer that will treat her with respect and provide further training. Not many of her colleagues will be women, she knows. But that does not deter her: ""There's such a shortage of female engineers in this field, I just feel that maybe I should be one of them."" Redressing the severe gender imbalance in the industry could help tackle the shortage, some observers say. In the UK, fewer than 10% of aerospace and aviation engineers are women. The numbers are even worse across the Atlantic, says Gail Rouscher, a former aircraft maintenance engineer now at Western Michigan University. Only 2.8% of US aircraft technicians are women. ""I don't think that there are enough women that are involved in the industry to act as mentors,"" she says. Multiple engineering firms contacted by the BBC declined to specify whether they were short of aviation technicians at present, or to what extent. AAR Corporation, however, says it has raised salaries and launched a programme to help US military veterans join the workforce. More than 60 such candidates have been hired since 2019, the firm notes. ST Engineering has started a mentorship programme in Singapore and is in talks to set up a training academy in the US. Meanwhile, Lufthansa Technik is working to attract more women into the industry. ""Large-scale recruitment of apprentices is still ongoing,"" a spokeswoman adds. The current focus on training is significant, says Daniel Olufisan, training director and principal consultant at Wing Engineering, which works in the aviation industry. It is partly down to the fact that fewer aircraft engineers these days are ex-military and, therefore, not as many people with hands-on experience are entering maintenance roles, he suggests. Another key reason for the shortage is that a high number of engineers in their 60s are now retiring from the profession. Aircraft maintenance is not as glamorous as it once was, suggests Robert Mann, an industry analyst and consultant at RW Mann & Company: ""Some of the benefits that then came with working for an airline, flying on staff passes for example, just aren't there anymore."" He stresses that a dearth of engineers is no excuse to cut corners on safety. ""This is not a test flying business, this is a consumer service,"" he says. Last year, manufacturer Airbus set a target of hiring 13,000 new employees, many of whom were engineers, though in Airbus's case most were destined to work on new aircraft designs rather than maintenance. A spokeswoman confirms that the company exceeded its target and also succeeded in hiring a large proportion of engineers (25% of the total). ""It does become harder and harder to source talented professional engineers,"" acknowledges Mark Crompton, global head of employment marketing. He adds that outreach to children of school age could help encourage them to consider the career. More technology of business Airbus, like many firms, is increasing apprenticeship and internship positions to help, too. The number of such posts at Airbus climbed by 25% in 2023. But the industry as a whole is having to face up to the impact aviation is having on climate change and even more engineers are needed to develop cleaner aircraft, explains Mr Crompton. Nadeem Bandali is an aircraft maintenance engineer at Gatwick Airport. He says that when young people ask him about his job, he shows them videos of the kind of work he does to illustrate how practical it is. ""It's purely mechanical, fixing aircraft, troubleshooting aircraft systems,"" he explains. As an example, just a few weeks ago, he and his colleagues were tasked with locating a fault in a long sensor wire that runs through the fuselage and wings of an A320. It took a few hours, but they found it and fixed it. He is aware of the engineer shortage but says, ""I don't think safety is an issue at the moment."" Keeping planes in the air, without incident, is a worthwhile endeavour for Miss Umashankar. ""Aircraft,"" she says, ""connect the whole world into one."" ",BBC,22/03/2024,"['Student Pooja Umashankar clearly remembers when she first felt the roar of an aircraft taking off.', 'She was 10 years old and travelling from Sri Lanka to the UK with her family.', 'Through the window near her seat, she could see hundreds of tiny lights on the ground below. ""', 'It\'s just a piece of metal,"" she remembers marvelling, ""And it\'s flying now.""', 'Today, a decade and a half later, Miss Umashankar has returned from Sri Lanka to study aircraft maintenance engineering at the University of South Wales. ""', 'I knew that I wanted to do something that nobody had ever done in my town,"" she says.', ""The aviation industry can't find enough people like Miss Umashankar."", 'For years, airlines and engineering firms have struggled to hire maintenance engineers, and there is now a global shortage numbering in the tens of thousands.', 'This is a huge problem not least because aviation is expected to balloon in the coming decades.', 'Industry estimates suggest that roughly 700,000 engineers will have to enter the profession between now and 2040 in order to satisfy demand.', ""Plus, after Boeing's recent 737 Max 9 door blowout - currently the subject of an investigation - engineers have been in especially high demand to perform increased checks on 737 Max aircraft of various models."", ""And trade association ADS says there are 10,000 vacancies in total across the UK's aerospace, defence, security and space industries."", 'Miss Umashankar, who is now nearing the end of her three-year degree, says she wants to be a part of the solution. ""', 'What motivates me is to… help people travel,"" she says. ""', 'I want to help them fly - while being safe.""', 'She says she has especially enjoyed working with electronics during her course but was not able to find an on-the-job training placement.', 'However, Miss Umashankar has now started applying for full-time positions.', 'She hopes to work for an employer that will treat her with respect and provide further training.', 'Not many of her colleagues will be women, she knows.', 'But that does not deter her: ""There\'s such a shortage of female engineers in this field, I just feel that maybe I should be one of them.""', 'Redressing the severe gender imbalance in the industry could help tackle the shortage, some observers say.', 'In the UK, fewer than 10% of aerospace and aviation engineers are women.', 'The numbers are even worse across the Atlantic, says Gail Rouscher, a former aircraft maintenance engineer now at Western Michigan University.', 'Only 2.8% of US aircraft technicians are women. ""', 'I don\'t think that there are enough women that are involved in the industry to act as mentors,"" she says.', 'Multiple engineering firms contacted by the BBC declined to specify whether they were short of aviation technicians at present, or to what extent.', 'AAR Corporation, however, says it has raised salaries and launched a programme to help US military veterans join the workforce.', 'More than 60 such candidates have been hired since 2019, the firm notes.', 'ST Engineering has started a mentorship programme in Singapore and is in talks to set up a training academy in the US.', 'Meanwhile, Lufthansa Technik is working to attract more women into the industry. ""', 'Large-scale recruitment of apprentices is still ongoing,"" a spokeswoman adds.', 'The current focus on training is significant, says Daniel Olufisan, training director and principal consultant at Wing Engineering, which works in the aviation industry.', 'It is partly down to the fact that fewer aircraft engineers these days are ex-military and, therefore, not as many people with hands-on experience are entering maintenance roles, he suggests.', 'Another key reason for the shortage is that a high number of engineers in their 60s are now retiring from the profession.', 'Aircraft maintenance is not as glamorous as it once was, suggests Robert Mann, an industry analyst and consultant at RW Mann & Company: ""Some of the benefits that then came with working for an airline, flying on staff passes for example, just aren\'t there anymore.""', 'He stresses that a dearth of engineers is no excuse to cut corners on safety. ""', 'This is not a test flying business, this is a consumer service,"" he says.', ""Last year, manufacturer Airbus set a target of hiring 13,000 new employees, many of whom were engineers, though in Airbus's case most were destined to work on new aircraft designs rather than maintenance."", 'A spokeswoman confirms that the company exceeded its target and also succeeded in hiring a large proportion of engineers (25% of the total). ""', 'It does become harder and harder to source talented professional engineers,"" acknowledges Mark Crompton, global head of employment marketing.', 'He adds that outreach to children of school age could help encourage them to consider the career.', 'More technology of business Airbus, like many firms, is increasing apprenticeship and internship positions to help, too.', 'The number of such posts at Airbus climbed by 25% in 2023.', 'But the industry as a whole is having to face up to the impact aviation is having on climate change and even more engineers are needed to develop cleaner aircraft, explains Mr Crompton.', 'Nadeem Bandali is an aircraft maintenance engineer at Gatwick Airport.', 'He says that when young people ask him about his job, he shows them videos of the kind of work he does to illustrate how practical it is. ""', 'It\'s purely mechanical, fixing aircraft, troubleshooting aircraft systems,"" he explains.', 'As an example, just a few weeks ago, he and his colleagues were tasked with locating a fault in a long sensor wire that runs through the fuselage and wings of an A320.', 'It took a few hours, but they found it and fixed it.', 'He is aware of the engineer shortage but says, ""I don\'t think safety is an issue at the moment.""', 'Keeping planes in the air, without incident, is a worthwhile endeavour for Miss Umashankar. ""', 'Aircraft,"" she says, ""connect the whole world into one.""']",0.1132175272645693,She hopes to work for an employer that will treat her with respect and provide further training.,"He stresses that a dearth of engineers is no excuse to cut corners on safety. """ Buying yon bonnie banks,https://www.bbc.co.uk/news/uk-scotland-scotland-business-68628838,2024-03-21T21:21:20.000Z,"While branches close by the hundred and your money is now handled through chat bots and contact centres, Scotland is also suffering from the loss of bank headquarters. And the consequences of increasingly rootless and distant banks could be serious for the wider economy. On Thursday, the directors of Virgin Money UK plc announced they have agreed to recommend to shareholders that they vote to accept a £2.9bn takeover offer by Nationwide building society. Virgin Money operates under the licence for Clydesdale Bank, which took it over in 2018 and adopted its brand, saying farewell to the older brand's presence in Glasgow since 1838 while, for no obvious reason, continuing to print Clydesdale bank notes. That commitment to the deal also comes from the holding company owned by Virgin Group founder Sir Richard Branson, which has a 14.6% stake. In addition to trousering more than £400m from the sale, his group gets £20m for each of the six years while Nationwide continues to use the Virgin brand. At a 40% premium to the recent share price, it's not hard to see why directors have agreed. Such ""challenger banks"" have begun to look more of a challenge to themselves than to their bigger rivals. The prospects of Virgin Money growing from sixth largest bank in Britain to rival the established giants were not good. Regulatory costs weigh heavily on smaller banks, and upstarts with whizzy apps, without the legacy and focused on the relatively easy, lower-risk stuff - Monzo, Starling and Revolut, for instance - attract customers by the million. So under Nationwide, Virgin Money and Clydesdale, along with the former Yorkshire Bank, become part of a building society. As things stand, the combination is set to have total assets of £366bn and total lending and advances of around £283bn, representing the second largest provider of mortgages and savings in the UK. Nationwide gets Virgin Money's strengths in business lending, while extending the customer orientation of a mutual. Some HQ jobs in Glasgow may be lost where they overlap with those at Nationwide's head office in Swindon. That includes David Duffy, chief executive since 2015, who will leave by the end of the year when the takeover should be complete. The new owners are committed to the workforce of more than 7,000 people, mostly in Glasgow and Newcastle, and to branches. But that's only in ""the medium term"", which looks like 2028 for branches at least. The demise of branch banking is being driven hard by banks themselves: coincidentally, I went into a Virgin Money branch this week with a friend who is a customer there, who wanted to open a cash ISA but didn't want to do it online. There was a blank look, and after 10 minutes in the back office, a gormless answer: ""you could make an appointment with someone who can help, but there's a long wait, and appointments are made at another branch - before then, we might find someone who could show you how to do it online"". By 2028, the new bosses will have decided if they want to run the operations separately or gain from synergy and cost-cutting. Though Nationwide is not accountable to shareholders, the cost-cutting option looks more likely - if it can't be as nimble as the app competitors, it makes sense to use its scale. Dial back a few years, and you would hear questions of whether Scottish banks and their canny reputation could survive the ignominious near-collapse of the Royal Bank of Scotland and Halifax Bank of Scotland, both headquartered in Edinburgh. The capital recovered from the blow better than many expected. But under Lloyds Banking Group, HBOS quickly lost executive power from its HQ on the Mound. It returns to Scotland each year for its annual general meeting, but there's no pretence that it is based north of the border. Under government ownership, Royal Bank of Scotland continued to pay homage to its Scottish roots. It spent years eating humble pie, and it had to make use of its colossal headquarters campus at Gogarburn, near Edinburgh Airport. But now with minority state ownership and rebranded to NatWest, its London-based executive team pay less and less attention to those roots. Royal Bank of Scotland is only retained as a brand in Scotland, and with more staff working from home, Gogarburn is operating far below capacity. Clydesdale Bank was a distant third among Scottish banks. It had also taken big risks on lending. Its parent company, National Australia Bank, despaired of it and the huge costs of redress for mis-selling financial products. It struggled to offload it, eventually spinning it off in a stock exchange float. Such new ""challenger banks"" were encouraged by government and by regulators with relaxed capital rules, and a share of funds which Royal Bank of Scotland had to pay as compensation for the state aid it received. Scotland's two main cities did exceptionally well at attracting them. Virgin Money put its HQ into Edinburgh, and bought the less toxic remnants of Northern Rock, an important part of the economy in north-east England. TSB, spun off by Lloyds, retained its historic HQ on Edinburgh's George Street, but was taken over by Sabadell of Spain and ran into expensive problems in updating its IT systems. Two new banks, the financial arms of Sainsbury's and Tesco supermarket chains, put their headquarters in Edinburgh, and Tesco followed up by locating its main processing and contact centre in Glasgow. Now, however, banks look much less attractive for big brand expansion. Government and regulators look less favourably on challenger banks. And as they retreat, that means less competition in the bank market, and risks higher costs for customers. Tesco's is being sold to Barclays, and Sainsbury's has failed to find a buyer, so it is winding down its bank. For Scotland, that is a lot of bank headquarters to lose in only 15 years. Does that matter? According to Ian Fraser, an author and commentator on banking, it is a ""bit of a disaster"" for the Scottish economy more widely. ""It's very serious,"" he says. ""People in business were used to being able to walk a few hundred metres from their office to the bank. They got to know the managers there, who understood the needs of the business, and that included the people right at the top. ""Therefore, the bankers had a very good knowledge of the needs of the industrial base of the companies located here. That was a huge advantage for Scotland. But now the people who make the ultimate decisions on finance are based elsewhere."" ""It's the branch economy syndrome,"" he adds. Decisions made elsewhere. And that applies not only to finance, but also to businesses in other sectors being bought over and losing HQ functions to other parts of the world. Scotland continues to do well at attracting jobs through inward investment in back office technology, processing and risk functions, and there is a lively financial technology sector, clustered around universities. These are skilled staff who can make banking more efficient. Big data gives bankers ever more detailed read-outs of customer behaviour, both retail and business. But it is at the cost of more physical distant from customers, and over time, lending decisions will be handled more often by machine. In lacking the key figures at the top of banking, Scotland is far from alone. And similar smaller countries lack such easy access to the financial powerhouse and capital markets of London. But Scots have seen an unusually sharp decline in a feature of the economy they have long taken for granted. ",BBC,21/03/2024,"['While branches close by the hundred and your money is now handled through chat bots and contact centres, Scotland is also suffering from the loss of bank headquarters.', 'And the consequences of increasingly rootless and distant banks could be serious for the wider economy.', 'On Thursday, the directors of Virgin Money UK plc announced they have agreed to recommend to shareholders that they vote to accept a £2.9bn takeover offer by Nationwide building society.', ""Virgin Money operates under the licence for Clydesdale Bank, which took it over in 2018 and adopted its brand, saying farewell to the older brand's presence in Glasgow since 1838 while, for no obvious reason, continuing to print Clydesdale bank notes."", 'That commitment to the deal also comes from the holding company owned by Virgin Group founder Sir Richard Branson, which has a 14.6% stake.', 'In addition to trousering more than £400m from the sale, his group gets £20m for each of the six years while Nationwide continues to use the Virgin brand.', ""At a 40% premium to the recent share price, it's not hard to see why directors have agreed."", 'Such ""challenger banks"" have begun to look more of a challenge to themselves than to their bigger rivals.', 'The prospects of Virgin Money growing from sixth largest bank in Britain to rival the established giants were not good.', 'Regulatory costs weigh heavily on smaller banks, and upstarts with whizzy apps, without the legacy and focused on the relatively easy, lower-risk stuff - Monzo, Starling and Revolut, for instance - attract customers by the million.', 'So under Nationwide, Virgin Money and Clydesdale, along with the former Yorkshire Bank, become part of a building society.', 'As things stand, the combination is set to have total assets of £366bn and total lending and advances of around £283bn, representing the second largest provider of mortgages and savings in the UK.', ""Nationwide gets Virgin Money's strengths in business lending, while extending the customer orientation of a mutual."", ""Some HQ jobs in Glasgow may be lost where they overlap with those at Nationwide's head office in Swindon."", 'That includes David Duffy, chief executive since 2015, who will leave by the end of the year when the takeover should be complete.', 'The new owners are committed to the workforce of more than 7,000 people, mostly in Glasgow and Newcastle, and to branches.', 'But that\'s only in ""the medium term"", which looks like 2028 for branches at least.', ""The demise of branch banking is being driven hard by banks themselves: coincidentally, I went into a Virgin Money branch this week with a friend who is a customer there, who wanted to open a cash ISA but didn't want to do it online."", 'There was a blank look, and after 10 minutes in the back office, a gormless answer: ""you could make an appointment with someone who can help, but there\'s a long wait, and appointments are made at another branch - before then, we might find someone who could show you how to do it online"".', 'By 2028, the new bosses will have decided if they want to run the operations separately or gain from synergy and cost-cutting.', ""Though Nationwide is not accountable to shareholders, the cost-cutting option looks more likely - if it can't be as nimble as the app competitors, it makes sense to use its scale."", 'Dial back a few years, and you would hear questions of whether Scottish banks and their canny reputation could survive the ignominious near-collapse of the Royal Bank of Scotland and Halifax Bank of Scotland, both headquartered in Edinburgh.', 'The capital recovered from the blow better than many expected.', 'But under Lloyds Banking Group, HBOS quickly lost executive power from its HQ on the Mound.', ""It returns to Scotland each year for its annual general meeting, but there's no pretence that it is based north of the border."", 'Under government ownership, Royal Bank of Scotland continued to pay homage to its Scottish roots.', 'It spent years eating humble pie, and it had to make use of its colossal headquarters campus at Gogarburn, near Edinburgh Airport.', 'But now with minority state ownership and rebranded to NatWest, its London-based executive team pay less and less attention to those roots.', 'Royal Bank of Scotland is only retained as a brand in Scotland, and with more staff working from home, Gogarburn is operating far below capacity.', 'Clydesdale Bank was a distant third among Scottish banks.', 'It had also taken big risks on lending.', 'Its parent company, National Australia Bank, despaired of it and the huge costs of redress for mis-selling financial products.', 'It struggled to offload it, eventually spinning it off in a stock exchange float.', 'Such new ""challenger banks"" were encouraged by government and by regulators with relaxed capital rules, and a share of funds which Royal Bank of Scotland had to pay as compensation for the state aid it received.', ""Scotland's two main cities did exceptionally well at attracting them."", 'Virgin Money put its HQ into Edinburgh, and bought the less toxic remnants of Northern Rock, an important part of the economy in north-east England.', ""TSB, spun off by Lloyds, retained its historic HQ on Edinburgh's George Street, but was taken over by Sabadell of Spain and ran into expensive problems in updating its IT systems."", ""Two new banks, the financial arms of Sainsbury's and Tesco supermarket chains, put their headquarters in Edinburgh, and Tesco followed up by locating its main processing and contact centre in Glasgow."", 'Now, however, banks look much less attractive for big brand expansion.', 'Government and regulators look less favourably on challenger banks.', 'And as they retreat, that means less competition in the bank market, and risks higher costs for customers.', ""Tesco's is being sold to Barclays, and Sainsbury's has failed to find a buyer, so it is winding down its bank."", 'For Scotland, that is a lot of bank headquarters to lose in only 15 years.', 'Does that matter?', 'According to Ian Fraser, an author and commentator on banking, it is a ""bit of a disaster"" for the Scottish economy more widely. ""', 'It\'s very serious,"" he says. ""', 'People in business were used to being able to walk a few hundred metres from their office to the bank.', 'They got to know the managers there, who understood the needs of the business, and that included the people right at the top. ""', 'Therefore, the bankers had a very good knowledge of the needs of the industrial base of the companies located here.', 'That was a huge advantage for Scotland.', 'But now the people who make the ultimate decisions on finance are based elsewhere."" ""', 'It\'s the branch economy syndrome,"" he adds.', 'Decisions made elsewhere.', 'And that applies not only to finance, but also to businesses in other sectors being bought over and losing HQ functions to other parts of the world.', 'Scotland continues to do well at attracting jobs through inward investment in back office technology, processing and risk functions, and there is a lively financial technology sector, clustered around universities.', 'These are skilled staff who can make banking more efficient.', 'Big data gives bankers ever more detailed read-outs of customer behaviour, both retail and business.', 'But it is at the cost of more physical distant from customers, and over time, lending decisions will be handled more often by machine.', 'In lacking the key figures at the top of banking, Scotland is far from alone.', 'And similar smaller countries lack such easy access to the financial powerhouse and capital markets of London.', 'But Scots have seen an unusually sharp decline in a feature of the economy they have long taken for granted.']",0.059801344347364574,"Such new ""challenger banks"" were encouraged by government and by regulators with relaxed capital rules, and a share of funds which Royal Bank of Scotland had to pay as compensation for the state aid it received.","While branches close by the hundred and your money is now handled through chat bots and contact centres, Scotland is also suffering from the loss of bank headquarters." Wetherspoon profits jump as Covid recovery continues,https://www.bbc.co.uk/news/business-68636250,2024-03-22T12:20:39.000Z,"Pub chain Wetherspoon has reported an eightfold jump in profits, saying its recovery from the Covid pandemic is continuing. Pre-tax profits leapt from £4.6m to £36m in the first six months of the financial year, as more people visited the group's pubs. Wetherspoon's boss said overall sales had continued to increase despite a reduction in the number of pubs. Bar sales saw the biggest increase, up 12% over the year. The biggest sellers for the chain, which has 814 pubs, were coffee and Pepsi. Foods sales and slot machine sales also rose. Sales were continuing to improve into the new financial year, but at a slower rate. Shares in the company dropped 6% as a result. Wetherspoon founder Tim Martin told BBC Radio 4's Today programme the latest financial results were ""good"" albeit not ""sensational"". He described the recovery from the pandemic as a ""slow three-year slog"". As a result, Wetherspoon's profit margins for the six months stood at 6.8%, still below the company's pre-pandemic margins of 7.1%. Derren Nathan, head of equity research at Hargreaves Lansdown, said the results told a story of ""an impressive recovery"". But he said the profits growth was in comparison with a low base. ""Margins are still pretty thin and there was little in the statement to help see where an improvement might come from,"" he said. Wetherspoon has cut its number of pubs from 955 a few years ago, since when sales per pub have increased by about 50%. It said there was the potential in the UK for about 1,000 outlets. Mr Martin also highlighted the fact that the tax burden on pubs and restaurants is much higher in the UK than it is on supermarkets. He called for tax equality to revitalise High Streets and town centres, pointing towards other European countries where the VAT rate on restaurant and food sales is far lower, typically at 5-10%. Mr Martin called for a similar approach in the UK, advocating for a VAT rate ""less draconian"" than the current 20%. ",BBC,22/03/2024,"['Pub chain Wetherspoon has reported an eightfold jump in profits, saying its recovery from the Covid pandemic is continuing.', ""Pre-tax profits leapt from £4.6m to £36m in the first six months of the financial year, as more people visited the group's pubs."", ""Wetherspoon's boss said overall sales had continued to increase despite a reduction in the number of pubs."", 'Bar sales saw the biggest increase, up 12% over the year.', 'The biggest sellers for the chain, which has 814 pubs, were coffee and Pepsi.', 'Foods sales and slot machine sales also rose.', 'Sales were continuing to improve into the new financial year, but at a slower rate.', 'Shares in the company dropped 6% as a result.', 'Wetherspoon founder Tim Martin told BBC Radio 4\'s Today programme the latest financial results were ""good"" albeit not ""sensational"".', 'He described the recovery from the pandemic as a ""slow three-year slog"".', ""As a result, Wetherspoon's profit margins for the six months stood at 6.8%, still below the company's pre-pandemic margins of 7.1%."", 'Derren Nathan, head of equity research at Hargreaves Lansdown, said the results told a story of ""an impressive recovery"".', 'But he said the profits growth was in comparison with a low base. ""', 'Margins are still pretty thin and there was little in the statement to help see where an improvement might come from,"" he said.', 'Wetherspoon has cut its number of pubs from 955 a few years ago, since when sales per pub have increased by about 50%.', 'It said there was the potential in the UK for about 1,000 outlets.', 'Mr Martin also highlighted the fact that the tax burden on pubs and restaurants is much higher in the UK than it is on supermarkets.', 'He called for tax equality to revitalise High Streets and town centres, pointing towards other European countries where the VAT rate on restaurant and food sales is far lower, typically at 5-10%.', 'Mr Martin called for a similar approach in the UK, advocating for a VAT rate ""less draconian"" than the current 20%.']",0.22969429546050735,"Margins are still pretty thin and there was little in the statement to help see where an improvement might come from,"" he said.",Mr Martin also highlighted the fact that the tax burden on pubs and restaurants is much higher in the UK than it is on supermarkets. Your personal data all over the web - is there a better way?,https://www.bbc.co.uk/news/business-68286395,2024-03-08T00:08:42.000Z,"""From the beginning, I always meant for the web to be a platform for creativity and collaboration,"" says Sir Tim Berners-Lee, inventor of the world wide web. ""The first decade of the web lived up to that promise, but that's not what we've seen in the last 20 years or so."" Sir Tim says a particular problem is the way personal data is handled. When you log in and store data in a website, it can only be used within that website. But an open source software project, called Solid, is designed to reverse that situation. The idea of Solid is that people have a private data store, and they get to choose which organisations can access it, for what purpose, and for how long. Called a Personal Online Data Store, or Pod, it gives users control over their data, and the freedom to combine it or share it between applications. Sir Tim is co-founder of Inrupt, a company that provides Solid-based technologies. He says using the technology would mean that data storage would be ""centred around people, instead of around apps"". Other companies providing Solid-based solutions include Graphmetrix and Digita. In Flanders, Belgium, Athumi is working on several projects using Solid. The company was set up by the Flemish government to help re-launch the economy after the Covid-19 emergency. The company acts as a neutral intermediary, connecting businesses in different sectors and enabling them to access sensitive company and citizen data. Athumi's first Solid project launched last year in collaboration with recruitment company Randstad, prior to a rollout with other recruitment firms. During 2024, Athumi plans to scale this application to 30,000 users. The application solves a common problem for job applicants in Belgium. They often have to submit copies of their diplomas, typically as photocopies by mail. Sometimes people struggle to find their certificates and getting replacements causes delay and costs money. ""We made the process very easy,"" says Björn De Vidts, chief executive of Athumi. ""The first step is to activate your pod. That is legally required because we cannot deliver services for a person who hasn't given us the authority to activate their pod. The second step is that you give permission to load your diploma into the pod. The third step is giving access to Randstad for a certain period of time to use the diploma in your pod for the specific job application."" Citizens access and manage their pods through a web browser. For some roles, the recruiter needs to verify that the claimed qualification is genuine. This can be time-consuming when dealing with paperwork. In the Solid application, the diploma has a token that guarantees the data is authentic and hasn't been changed. More technology of business The tech is also being piloted in healthcare. Starting this year, five Belgian hospitals will store information about hospital visits in patients' Solid pods. The idea is that it will make it easier for patients to share their medical data. For example, they could share proof of a recent medical examination when applying for a job, so they don't need to have another one. Athumi is also working with several media companies to create shared user profiles that span streaming services, so viewers can get better personalised services. The pods store data in standard formats, so that it can be reused in multiple contexts. ""What I call the real fun stuff of the data economy is when we will be able to combine these different data elements,"" says Mr De Vidts. ""That will generate use cases that we cannot even predict today. When you have enough interesting data points, application builders will, we believe, come to the pod to build new applications."" Research commissioned by the Flemish government indicates that citizens would be willing to use the pods if they save time or money, or they help them to improve their health. The Flemish pods are hosted using Enterprise Solid Server, provided by Inrupt. John Bruce, Inrupt's co-founder and CEO, says you could have multiple pods hosted for you by companies such as internet service providers or travel firms you use frequently. All the pods can be accessed through one login. Pods could potentially make life harder for hackers. Even though pods may share a server, each one has its own access controls, set by the user. By contrast, a company database has one set of access controls that grants access to all customer records. ""Today you exist in big databases,"" says Mr Bruce. ""Your credit card is in there with 10 million others. ""That database is a high value target. [Hackers] will put months of work in to get that database. When the data value exists only in your pod, it is like the difference in the kind of attack one would get on a bank versus you getting mugged on the street. You're not going to get a team of people following you around for three months to nick your wallet,"" he says. Amanda Finch, CEO of The Chartered Institute of Information Security, says Athumi's plan to create a centralised data platform will have benefits. As well as easing the flow of data through the economy it could boost security. ""From a security standpoint, it should help to create a safer environment. With fewer platforms to secure, and responsibility lying with one, overarching party, you'd expect fewer vulnerabilities compared to multiple different solutions."" She adds a note of caution, though, as the new architecture means citizens take responsibility for more sensitive data than they might previously have held. ""Putting security into the hands of users and citizens is a risk when you consider how many breaches have a human element,"" she says. ""If someone is duped into sharing their pod with a fraudster, then that's it - they've potentially lost everything. Users need to make their own conscious decisions on whether they share data. But this can only happen if citizens are educated on how they can reduce risk by instilling security best practices such as strong passwords or multi-factor authentication."" Would all those companies used to hoarding data give it up easily? ""Companies don't want it,"" says Mr Bruce. ""If they could live in a world where they don't have to be responsible for your data, but they can have access to it, they'd take that in a heartbeat."" Back at Athumi, Mr De Vidts thinks Solid could be the start of a data revolution. ""I've been working 25 years in B2B data collaboration, and this is the first time I've seen a data sharing technology that has this kind of potential to disrupt existing business models,"" he says. ""A citizen can decide what data goes to which consuming application. The data subject becomes the data controller."" ",BBC,08/03/2024,"['""From the beginning, I always meant for the web to be a platform for creativity and collaboration,"" says Sir Tim Berners-Lee, inventor of the world wide web. ""', 'The first decade of the web lived up to that promise, but that\'s not what we\'ve seen in the last 20 years or so.""', 'Sir Tim says a particular problem is the way personal data is handled.', 'When you log in and store data in a website, it can only be used within that website.', 'But an open source software project, called Solid, is designed to reverse that situation.', 'The idea of Solid is that people have a private data store, and they get to choose which organisations can access it, for what purpose, and for how long.', 'Called a Personal Online Data Store, or Pod, it gives users control over their data, and the freedom to combine it or share it between applications.', 'Sir Tim is co-founder of Inrupt, a company that provides Solid-based technologies.', 'He says using the technology would mean that data storage would be ""centred around people, instead of around apps"".', 'Other companies providing Solid-based solutions include Graphmetrix and Digita.', 'In Flanders, Belgium, Athumi is working on several projects using Solid.', 'The company was set up by the Flemish government to help re-launch the economy after the Covid-19 emergency.', 'The company acts as a neutral intermediary, connecting businesses in different sectors and enabling them to access sensitive company and citizen data.', ""Athumi's first Solid project launched last year in collaboration with recruitment company Randstad, prior to a rollout with other recruitment firms."", 'During 2024, Athumi plans to scale this application to 30,000 users.', 'The application solves a common problem for job applicants in Belgium.', 'They often have to submit copies of their diplomas, typically as photocopies by mail.', 'Sometimes people struggle to find their certificates and getting replacements causes delay and costs money. ""', 'We made the process very easy,"" says Björn De Vidts, chief executive of Athumi. ""', 'The first step is to activate your pod.', ""That is legally required because we cannot deliver services for a person who hasn't given us the authority to activate their pod."", 'The second step is that you give permission to load your diploma into the pod.', 'The third step is giving access to Randstad for a certain period of time to use the diploma in your pod for the specific job application.""', 'Citizens access and manage their pods through a web browser.', 'For some roles, the recruiter needs to verify that the claimed qualification is genuine.', 'This can be time-consuming when dealing with paperwork.', ""In the Solid application, the diploma has a token that guarantees the data is authentic and hasn't been changed."", 'More technology of business The tech is also being piloted in healthcare.', ""Starting this year, five Belgian hospitals will store information about hospital visits in patients' Solid pods."", 'The idea is that it will make it easier for patients to share their medical data.', ""For example, they could share proof of a recent medical examination when applying for a job, so they don't need to have another one."", 'Athumi is also working with several media companies to create shared user profiles that span streaming services, so viewers can get better personalised services.', 'The pods store data in standard formats, so that it can be reused in multiple contexts. ""', 'What I call the real fun stuff of the data economy is when we will be able to combine these different data elements,"" says Mr De Vidts. ""', 'That will generate use cases that we cannot even predict today.', 'When you have enough interesting data points, application builders will, we believe, come to the pod to build new applications.""', 'Research commissioned by the Flemish government indicates that citizens would be willing to use the pods if they save time or money, or they help them to improve their health.', 'The Flemish pods are hosted using Enterprise Solid Server, provided by Inrupt.', ""John Bruce, Inrupt's co-founder and CEO, says you could have multiple pods hosted for you by companies such as internet service providers or travel firms you use frequently."", 'All the pods can be accessed through one login.', 'Pods could potentially make life harder for hackers.', 'Even though pods may share a server, each one has its own access controls, set by the user.', 'By contrast, a company database has one set of access controls that grants access to all customer records. ""', 'Today you exist in big databases,"" says Mr Bruce. ""', 'Your credit card is in there with 10 million others. ""', 'That database is a high value target. [', 'Hackers] will put months of work in to get that database.', 'When the data value exists only in your pod, it is like the difference in the kind of attack one would get on a bank versus you getting mugged on the street.', 'You\'re not going to get a team of people following you around for three months to nick your wallet,"" he says.', ""Amanda Finch, CEO of The Chartered Institute of Information Security, says Athumi's plan to create a centralised data platform will have benefits."", 'As well as easing the flow of data through the economy it could boost security. ""', 'From a security standpoint, it should help to create a safer environment.', 'With fewer platforms to secure, and responsibility lying with one, overarching party, you\'d expect fewer vulnerabilities compared to multiple different solutions.""', 'She adds a note of caution, though, as the new architecture means citizens take responsibility for more sensitive data than they might previously have held. ""', 'Putting security into the hands of users and citizens is a risk when you consider how many breaches have a human element,"" she says. ""', ""If someone is duped into sharing their pod with a fraudster, then that's it - they've potentially lost everything."", 'Users need to make their own conscious decisions on whether they share data.', 'But this can only happen if citizens are educated on how they can reduce risk by instilling security best practices such as strong passwords or multi-factor authentication.""', 'Would all those companies used to hoarding data give it up easily? ""', 'Companies don\'t want it,"" says Mr Bruce. ""', 'If they could live in a world where they don\'t have to be responsible for your data, but they can have access to it, they\'d take that in a heartbeat.""', 'Back at Athumi, Mr De Vidts thinks Solid could be the start of a data revolution. ""', 'I\'ve been working 25 years in B2B data collaboration, and this is the first time I\'ve seen a data sharing technology that has this kind of potential to disrupt existing business models,"" he says. ""', 'A citizen can decide what data goes to which consuming application.', 'The data subject becomes the data controller.""']",0.2011309203114104,"But this can only happen if citizens are educated on how they can reduce risk by instilling security best practices such as strong passwords or multi-factor authentication.""","If someone is duped into sharing their pod with a fraudster, then that's it - they've potentially lost everything." Boeing timeline: Inside the air giant’s turbulent journey in recent years,https://edition.cnn.com/2024/03/17/business/boeing-timeline-troubles-crashes-stock-dg/index.html," Updated 2:40 PM EDT, Mon March 25, 2024 ","Boeing once had a reputation for unmatched safety and quality, an economic giant and a shining example of American industrial prowess. No longer. Since late 2018, a series of setbacks has besieged the company, including two fatal crashes that grounded its best-selling jet and an incident where a door plug detached in mid-air, leaving a gaping hole in a jet’s side. In addition to the loss of 346 lives in the two crashes, the problems have cost the company tens of billions of dollars and damaged its reputation. Here’s how Boeing got to this point.",CNN,25/03/2024,"['Boeing once had a reputation for unmatched safety and quality, an economic giant and a shining example of American industrial prowess.', 'No longer.', 'Since late 2018, a series of setbacks has besieged the company, including two fatal crashes that grounded its best-selling jet and an incident where a door plug detached in mid-air, leaving a gaping hole in a jet’s side.', 'In addition to the loss of 346 lives in the two crashes, the problems have cost the company tens of billions of dollars and damaged its reputation.', 'Here’s how Boeing got to this point.']",-0.13355138645764425,"Boeing once had a reputation for unmatched safety and quality, an economic giant and a shining example of American industrial prowess.","In addition to the loss of 346 lives in the two crashes, the problems have cost the company tens of billions of dollars and damaged its reputation." Searches for VPNs spike in Texas after Pornhub pulls out of the state,https://edition.cnn.com/2024/03/15/tech/vpn-searches-spike-texas-pornhub/index.html," Updated 11:57 AM EDT, Fri March 15, 2024 ","Searches for virtual private networking (VPN) software briefly spiked in Texas this week after Pornhub suspended service in the state over a law forcing adult websites to verify the age or identities of their users. The four-fold rise in Google searches for tools that can circumvent the state-level blocking suggests the law may already be having unintended side effects, days after a federal appeals court upheld the legislation and said it could remain in effect. Visitors with Texas IP addresses who visit Pornhub’s website are now presented with a full-page message calling the Texas law “ineffective, haphazard, and dangerous.” “Until the real solution is offered, we have made the difficult decision to completely disable access to our website in Texas,” the message reads. “In doing so, we are complying with the law, as we always do, but hope that governments around the world will implement laws that actually protect the safety and security of users.” Search interest in VPNs began disproportionately rising in Texas Thursday compared to the rest of the country, according to a CNN analysis of Google Trends data — quadrupling in the hours following Pornhub’s announcement before retreating slightly by early Friday morning. While Google Trends merely shows correlations between events and is only useful as a gauge of relative search interest for a given snapshot of time, the immediacy of the search spike, coupled with its concentration from within Texas, highlights the potential connection between the law and Pornhub’s users. A link “seems pretty likely,” said Evan Greer, director of Fight for the Future, a digital rights advocacy group. “The apparent spike in VPN searches in Texas shows that these types of age verification laws aren’t just unconstitutional, they’re also silly and ineffective,” Greer said. “Just like millions of people in countries like China, Russia and Turkey evade their government’s draconian online censorship regimes using simple tools like VPNs, now we see Texans doing the same to get around their own state government’s invasive rules.” The Electronic Frontier Foundation (EFF), another digital rights group, said Texas is not the only state to see such searches rise in response to age verification laws. “Similar search spikes have been reported after other states passed age verification laws, which EFF opposes,” said Hudson Hongo, a spokesperson for the group. “No one should have to hand over their driver’s license just to access free websites.” Pornhub has pulled out of multiple states in response to a wave of age verification laws sweeping the country, including in Montana, Utah, Virginia and others. It also highlights the running debate in statehouses nationwide about how and whether governments can require websites to perform age verification. The law in question in Texas is known as HB 1181. It requires adult websites to implement “reasonable age verification” methods to ensure that pornography is not being distributed to minors. Those methods include either requiring users to submit “proof of identity” such as a government-issued ID to the adult website or to a third-party contractor, or by submitting other personal data to a third-party contractor, such as biometric information, that enables the vendor to check a user’s age. Last summer, a US district judge temporarily blocked the law, finding that it was overly broad, likely violated the First Amendment and threatened marginalized communities. “It runs the risk that the state can monitor when an adult views sexually explicit materials and what kind of websites they visit,” wrote Judge David Alan Ezra in the US District Court for the Western District of Texas. “Given Texas’s ongoing criminalization of homosexual intercourse, it is apparent that people who wish to view homosexual material will be profoundly chilled from doing so if they must first affirmatively identify themselves to the state.” Later, however, in response to an emergency appeal by Texas officials, the US 5th Circuit Court of Appeals overruled Ezra with an order that allowed the law to take effect. And last week, a three-judge panel of the same appeals court found that Ezra applied too tough a standard in reviewing the law. The 5th Circuit court’s latest decision formally lifts the injunction against the Texas law. Texas Attorney General Ken Paxton posted on X Thursday celebrating Pornhub’s decision to withdraw from the state. “Sites like PornHub are on the run,” he wrote, adding: “In Texas, companies cannot get away with showing porn to children. If they don’t want to comply, good riddance.” Pornhub said in a blog post that it supports age verification but that forcing individual websites and third-party providers to handle users’ most sensitive personal information creates unreasonable privacy and security risks. Pornhub has proposed, and reiterated on Thursday, that age verification checks should be performed exclusively on a user’s device, without requiring them to send data over the internet to third parties.",CNN,15/03/2024,"['Searches for virtual private networking (VPN) software briefly spiked in Texas this week after Pornhub suspended service in the state over a law forcing adult websites to verify the age or identities of their users.', 'The four-fold rise in Google searches for tools that can circumvent the state-level blocking suggests the law may already be having unintended side effects, days after a federal appeals court upheld the legislation and said it could remain in effect.', 'Visitors with Texas IP addresses who visit Pornhub’s website are now presented with a full-page message calling the Texas law “ineffective, haphazard, and dangerous.”', '“Until the real solution is offered, we have made the difficult decision to completely disable access to our website in Texas,” the message reads. “', 'In doing so, we are complying with the law, as we always do, but hope that governments around the world will implement laws that actually protect the safety and security of users.”', 'Search interest in VPNs began disproportionately rising in Texas Thursday compared to the rest of the country, according to a CNN analysis of Google Trends data — quadrupling in the hours following Pornhub’s announcement before retreating slightly by early Friday morning.', 'While Google Trends merely shows correlations between events and is only useful as a gauge of relative search interest for a given snapshot of time, the immediacy of the search spike, coupled with its concentration from within Texas, highlights the potential connection between the law and Pornhub’s users.', 'A link “seems pretty likely,” said Evan Greer, director of Fight for the Future, a digital rights advocacy group.', '“The apparent spike in VPN searches in Texas shows that these types of age verification laws aren’t just unconstitutional, they’re also silly and ineffective,” Greer said. “', 'Just like millions of people in countries like China, Russia and Turkey evade their government’s draconian online censorship regimes using simple tools like VPNs, now we see Texans doing the same to get around their own state government’s invasive rules.”', 'The Electronic Frontier Foundation (EFF), another digital rights group, said Texas is not the only state to see such searches rise in response to age verification laws.', '“Similar search spikes have been reported after other states passed age verification laws, which EFF opposes,” said Hudson Hongo, a spokesperson for the group. “', 'No one should have to hand over their driver’s license just to access free websites.”', 'Pornhub has pulled out of multiple states in response to a wave of age verification laws sweeping the country, including in Montana, Utah, Virginia and others.', 'It also highlights the running debate in statehouses nationwide about how and whether governments can require websites to perform age verification.', 'The law in question in Texas is known as HB 1181.', 'It requires adult websites to implement “reasonable age verification” methods to ensure that pornography is not being distributed to minors.', 'Those methods include either requiring users to submit “proof of identity” such as a government-issued ID to the adult website or to a third-party contractor, or by submitting other personal data to a third-party contractor, such as biometric information, that enables the vendor to check a user’s age.', 'Last summer, a US district judge temporarily blocked the law, finding that it was overly broad, likely violated the First Amendment and threatened marginalized communities.', '“It runs the risk that the state can monitor when an adult views sexually explicit materials and what kind of websites they visit,” wrote Judge David Alan Ezra in the US District Court for the Western District of Texas. “', 'Given Texas’s ongoing criminalization of homosexual intercourse, it is apparent that people who wish to view homosexual material will be profoundly chilled from doing so if they must first affirmatively identify themselves to the state.”', 'Later, however, in response to an emergency appeal by Texas officials, the US 5th Circuit Court of Appeals overruled Ezra with an order that allowed the law to take effect.', 'And last week, a three-judge panel of the same appeals court found that Ezra applied too tough a standard in reviewing the law.', 'The 5th Circuit court’s latest decision formally lifts the injunction against the Texas law.', 'Texas Attorney General Ken Paxton posted on X Thursday celebrating Pornhub’s decision to withdraw from the state.', '“Sites like PornHub are on the run,” he wrote, adding: “In Texas, companies cannot get away with showing porn to children.', 'If they don’t want to comply, good riddance.”', 'Pornhub said in a blog post that it supports age verification but that forcing individual websites and third-party providers to handle users’ most sensitive personal information creates unreasonable privacy and security risks.', 'Pornhub has proposed, and reiterated on Thursday, that age verification checks should be performed exclusively on a user’s device, without requiring them to send data over the internet to third parties.']",0.17815943667273257,"In doing so, we are complying with the law, as we always do, but hope that governments around the world will implement laws that actually protect the safety and security of users.”","Last summer, a US district judge temporarily blocked the law, finding that it was overly broad, likely violated the First Amendment and threatened marginalized communities." When wind turbine blades get old what's next?,https://www.bbc.co.uk/news/business-68225891,2024-03-12T00:01:23.000Z,"The cranes moved in last year at Hagshaw Hill, Scotland's oldest commercial wind farm. They were there to continue the dismantling of wind turbines that had been generating electricity for the last 28 years. A similar scene can be witnessed across the world as the first wave of wind turbines built in the late 1990s and early 2000s are decommissioned. In the case of Hagshaw Hill, the existing turbines will be replaced with taller and more efficient ones that can generate up to 10 times more electricity. But working out what to do with the old turbines is challenging. Between 85 and 95% of a turbine's materials, such as steel, aluminium, and copper, can be easily recycled, but the blades are a different matter. Made of fibreglass they are covered with a tough epoxy resin, designed to withstand years of hammering by the elements. These durable qualities make breaking down the blades for recycling a tricky process. Traditional solutions include using pieces of decommissioned blades in cement kilns to manufacture cement, though this can be an energy intensive process. Blades are also commonly disposed of in landfill sites, but this option is becoming increasingly less feasible with a number of countries, notably Germany and the Netherlands, banning the practice. Innovative solutions such as repurposing blades into playgrounds or bike sheds have been shown to be effective at a local level but, with some experts predicting up to 43 million tonnes of wind turbine blade waste by 2050, there is a pressing need for a system that will work on a bigger scale. Scientists and start-ups are working on the problem, with many focusing on tackling the challenge of breaking down the materials used in the blades. ""At the end of life, if we're going to get any value out of the materials, we need to be able to separate the fibres from the resin in some way or another,"" Dr Claire Barlow, a sustainability and materials engineer, from the University of Cambridge tells me. More technology of business One approach showing promise uses a technique developed by the University of Strathclyde. It involves breaking the blades down into small pieces and feeding them into a very hot air stream. The process separates the glass fibre from the resin. The glass fibre can then be collected, treated and reused, explains Malcolm Forsyth who leads Project PRoGrESS, which aims to commercialise the technology. The project, which kicked off in 2022, is working on a pilot plant that's due to be operational in the first half of this year - though it's hit some difficulties. ""The major challenge for the project team has been the rapid escalation of material costs partly due to the Russia and Ukraine war, as well as global inflation,"" according to Mr Forsyth. Similar solutions are being tested elsewhere that use different methodologies but have the same overarching goal of breaking down the materials used in wind turbine blades. Danish company Vestas, the largest wind turbine producer in Europe, announced last year an approach that uses a liquid chemical solution to break down the blades into materials which can then potentially be used to make new blades. A major advantage of this approach, according to Vestas, is that it uses widely available chemicals, though details haven't been disclosed. The process has the added benefit of not requiring energy-intensive high temperatures. Both of these traits hint at potential scalability, with the company claiming to have recycled 475 end-of-life blades in 2022. If technologies such as these succeed ""then not only can we solve the problem of new waste coming through, but we can also actually tackle historic waste,"" according to Dr Barlow. Historic blade waste currently in landfill could be recycled, as could waste which has been placed in storage awaiting a solution. At Hagshaw Hill a number of wind turbines have been kept in storage while ScottishPower Renewables decides what to do with them. Perhaps the future will be to make turbine blades that are easier to break down. A number of companies are working on building blades made out of materials less reliant on the difficult to recycle fibreglass and epoxy resin. However at this stage, the vast majority of blades continue to be made of these traditional materials. The next few years will determine whether the recycling technology under development can be scaled-up to a useful size, without harming the environment. As Dr Barlow puts it ""that really is the silver bullet."" ",BBC,12/03/2024,"[""The cranes moved in last year at Hagshaw Hill, Scotland's oldest commercial wind farm."", 'They were there to continue the dismantling of wind turbines that had been generating electricity for the last 28 years.', 'A similar scene can be witnessed across the world as the first wave of wind turbines built in the late 1990s and early 2000s are decommissioned.', 'In the case of Hagshaw Hill, the existing turbines will be replaced with taller and more efficient ones that can generate up to 10 times more electricity.', 'But working out what to do with the old turbines is challenging.', ""Between 85 and 95% of a turbine's materials, such as steel, aluminium, and copper, can be easily recycled, but the blades are a different matter."", 'Made of fibreglass they are covered with a tough epoxy resin, designed to withstand years of hammering by the elements.', 'These durable qualities make breaking down the blades for recycling a tricky process.', 'Traditional solutions include using pieces of decommissioned blades in cement kilns to manufacture cement, though this can be an energy intensive process.', 'Blades are also commonly disposed of in landfill sites, but this option is becoming increasingly less feasible with a number of countries, notably Germany and the Netherlands, banning the practice.', 'Innovative solutions such as repurposing blades into playgrounds or bike sheds have been shown to be effective at a local level but, with some experts predicting up to 43 million tonnes of wind turbine blade waste by 2050, there is a pressing need for a system that will work on a bigger scale.', 'Scientists and start-ups are working on the problem, with many focusing on tackling the challenge of breaking down the materials used in the blades. ""', 'At the end of life, if we\'re going to get any value out of the materials, we need to be able to separate the fibres from the resin in some way or another,"" Dr Claire Barlow, a sustainability and materials engineer, from the University of Cambridge tells me.', 'More technology of business One approach showing promise uses a technique developed by the University of Strathclyde.', 'It involves breaking the blades down into small pieces and feeding them into a very hot air stream.', 'The process separates the glass fibre from the resin.', 'The glass fibre can then be collected, treated and reused, explains Malcolm Forsyth who leads Project PRoGrESS, which aims to commercialise the technology.', 'The project, which kicked off in 2022, is working on a pilot plant that\'s due to be operational in the first half of this year - though it\'s hit some difficulties. ""', 'The major challenge for the project team has been the rapid escalation of material costs partly due to the Russia and Ukraine war, as well as global inflation,"" according to Mr Forsyth.', 'Similar solutions are being tested elsewhere that use different methodologies but have the same overarching goal of breaking down the materials used in wind turbine blades.', 'Danish company Vestas, the largest wind turbine producer in Europe, announced last year an approach that uses a liquid chemical solution to break down the blades into materials which can then potentially be used to make new blades.', ""A major advantage of this approach, according to Vestas, is that it uses widely available chemicals, though details haven't been disclosed."", 'The process has the added benefit of not requiring energy-intensive high temperatures.', 'Both of these traits hint at potential scalability, with the company claiming to have recycled 475 end-of-life blades in 2022.', 'If technologies such as these succeed ""then not only can we solve the problem of new waste coming through, but we can also actually tackle historic waste,"" according to Dr Barlow.', 'Historic blade waste currently in landfill could be recycled, as could waste which has been placed in storage awaiting a solution.', 'At Hagshaw Hill a number of wind turbines have been kept in storage while ScottishPower Renewables decides what to do with them.', 'Perhaps the future will be to make turbine blades that are easier to break down.', 'A number of companies are working on building blades made out of materials less reliant on the difficult to recycle fibreglass and epoxy resin.', 'However at this stage, the vast majority of blades continue to be made of these traditional materials.', 'The next few years will determine whether the recycling technology under development can be scaled-up to a useful size, without harming the environment.', 'As Dr Barlow puts it ""that really is the silver bullet.""']",0.06506699303730755,"The next few years will determine whether the recycling technology under development can be scaled-up to a useful size, without harming the environment.","If technologies such as these succeed ""then not only can we solve the problem of new waste coming through, but we can also actually tackle historic waste,"" according to Dr Barlow." Legoland and Alton Towers owner to charge more at peak times,https://www.bbc.co.uk/news/business-68659045,2024-03-25T17:53:57.000Z,"The owner of theme parks including Alton Towers and Legoland is to make it more costly to visit on a sunny bank holiday than a rainy day midweek. Merlin Entertainments, which also runs the London Eye and Madame Tussauds, is introducing ""dynamic pricing"" so prices can respond faster to weather and demand. Merlin said it would help offset a decline in visitors since the pandemic. Around 20 of its global venues will see the changes this year. Merlin Entertainments already uses off-peak and peak time pricing which, like many organisations, allows seasonal fluctuations to dictate demand and therefore price. But the introduction of machine learning will make flexible ticket pricing faster and more detailed. For example, if a sunny Saturday during the summer holiday turns out to be less busy than expected, the firm could lower ticket prices on the day. Similarly, if a winter's day unexpectedly turns out to be busy, prices could rise higher than current off-peak prices, even during what is normally considered a cheaper time to visit. Merlin said in a statement that such a pricing structure ""makes sure that the peak period experience is optimised by avoiding overcrowding"". It added that ""these changes enable greater flexibility for guests booking online to choose discounted prices for select dates and times"". ""We had it in 2023 and we had the highest guest satisfaction scores in the history of the company, and seven million additional guests,"" chief executive Scott O'Neil said. ""So we're definitely getting the signal that our processes are moving in the right direction"". However, there has been some criticism of the ""dynamic pricing"" model used by companies such as Uber and restaurants, partly due to its lack of transparency about why prices are high some of the time. In February, US burger chain Wendy's was quick to clarify that it was not introducing dynamic, or ""surge"" pricing. One of the company's most high-profile critics, left-wing senator Elizabeth Warren, said the plans meant people ""could pay more for your lunch, even if the cost to Wendy's stays exactly the same"". Meanwhile, Mr O'Neil said ""dynamic"" pricing would help ""protect the guest experience"" during busier times of the year by managing queues, where waits of more than an hour are routine. Merlin said on Monday it had made record revenues of £2.1bn in 2023, an increase of 8% year on year, with much of the revenue coming from international tourists visiting the capital. Nearly one in every four visitors to London came to a Merlin attraction, the company said. ",BBC,25/03/2024,"['The owner of theme parks including Alton Towers and Legoland is to make it more costly to visit on a sunny bank holiday than a rainy day midweek.', 'Merlin Entertainments, which also runs the London Eye and Madame Tussauds, is introducing ""dynamic pricing"" so prices can respond faster to weather and demand.', 'Merlin said it would help offset a decline in visitors since the pandemic.', 'Around 20 of its global venues will see the changes this year.', 'Merlin Entertainments already uses off-peak and peak time pricing which, like many organisations, allows seasonal fluctuations to dictate demand and therefore price.', 'But the introduction of machine learning will make flexible ticket pricing faster and more detailed.', 'For example, if a sunny Saturday during the summer holiday turns out to be less busy than expected, the firm could lower ticket prices on the day.', ""Similarly, if a winter's day unexpectedly turns out to be busy, prices could rise higher than current off-peak prices, even during what is normally considered a cheaper time to visit."", 'Merlin said in a statement that such a pricing structure ""makes sure that the peak period experience is optimised by avoiding overcrowding"".', 'It added that ""these changes enable greater flexibility for guests booking online to choose discounted prices for select dates and times"". ""', 'We had it in 2023 and we had the highest guest satisfaction scores in the history of the company, and seven million additional guests,"" chief executive Scott O\'Neil said. ""', 'So we\'re definitely getting the signal that our processes are moving in the right direction"".', 'However, there has been some criticism of the ""dynamic pricing"" model used by companies such as Uber and restaurants, partly due to its lack of transparency about why prices are high some of the time.', 'In February, US burger chain Wendy\'s was quick to clarify that it was not introducing dynamic, or ""surge"" pricing.', 'One of the company\'s most high-profile critics, left-wing senator Elizabeth Warren, said the plans meant people ""could pay more for your lunch, even if the cost to Wendy\'s stays exactly the same"".', 'Meanwhile, Mr O\'Neil said ""dynamic"" pricing would help ""protect the guest experience"" during busier times of the year by managing queues, where waits of more than an hour are routine.', 'Merlin said on Monday it had made record revenues of £2.1bn in 2023, an increase of 8% year on year, with much of the revenue coming from international tourists visiting the capital.', 'Nearly one in every four visitors to London came to a Merlin attraction, the company said.']",0.30266711707992994,"Meanwhile, Mr O'Neil said ""dynamic"" pricing would help ""protect the guest experience"" during busier times of the year by managing queues, where waits of more than an hour are routine.","One of the company's most high-profile critics, left-wing senator Elizabeth Warren, said the plans meant people ""could pay more for your lunch, even if the cost to Wendy's stays exactly the same""." Powerball jackpot swells to an estimated $800 million after no grand prize winners Saturday,https://edition.cnn.com/2024/03/23/business/powerball-jackpot-saturday-drawing/index.html," Updated 6:13 AM EDT, Sun March 24, 2024 ","When the next Powerball numbers are drawn Monday night, a lucky lottery player somewhere in the country could win an estimated $800 million grand prize. No tickets matched all six numbers for the $750 million jackpot in Saturday night’s drawing, so the jackpot continued to swell, according to the lottery. The numbers drawn Saturday were 6, 23, 25, 34, 51 and Powerball 3. Although there was no jackpot winner Saturday, five tickets won $1 million each in California, Florida, Indiana, Texas and Washington, according to the Powerball website. A lucky winner in Monday’s drawing would be able to choose to receive the money in annuitized payments or take the estimated $384.8 lump sum. The last time the Powerball jackpot was won was in January, when a ticket in Michigan scored a prize worth $842.4 million. Since then, there have been 35 consecutive drawings without a jackpot winner, according to Powerball. The Powerball jackpot isn’t the only lottery prize that’s been growing this week. No one won the Mega Millions jackpot during Friday’s drawing, sending the grand prize for Tuesday’s drawing to an estimated $1.1 billion, according to Mega Millions. Winning the Powerball jackpot means a ticket correctly guessed all five white balls plus the red Powerball. The odds of winning the grand prize are 1 in 292.2 million, according to Powerball. Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the US Virgin Islands. Drawings are held Mondays, Wednesdays and Saturdays at 10:59 p.m. ET in Tallahassee, Florida.",CNN,24/03/2024,"['When the next Powerball numbers are drawn Monday night, a lucky lottery player somewhere in the country could win an estimated $800 million grand prize.', 'No tickets matched all six numbers for the$750 million jackpotin Saturday night’s drawing, so the jackpot continued to swell, according to the lottery.', 'The numbers drawn Saturday were 6, 23, 25, 34, 51 and Powerball 3.', 'Although there was no jackpot winner Saturday, five tickets won $1 million each in California, Florida, Indiana, Texas and Washington, according to the Powerball website.', 'A lucky winner in Monday’s drawing would be able to choose to receive the money in annuitized payments or take the estimated $384.8 lump sum.', 'The last time the Powerball jackpot was won was in January, when a ticket in Michigan scored a prize worth $842.4 million.', 'Since then, there have been 35 consecutive drawings without a jackpot winner, according to Powerball.', 'The Powerball jackpot isn’t the only lottery prize that’s been growing this week.', 'No one won theMega Millionsjackpot during Friday’s drawing, sending the grand prize for Tuesday’s drawing to an estimated $1.1 billion, according toMega Millions.', 'Winning the Powerball jackpot means a ticket correctly guessed all five white balls plus the red Powerball.', 'The odds of winning the grand prize are 1 in 292.2 million, according to Powerball.', 'Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the US Virgin Islands.', 'Drawings are held Mondays, Wednesdays and Saturdays at 10:59 p.m. ET in Tallahassee, Florida.']",0.43613060122808156,"When the next Powerball numbers are drawn Monday night, a lucky lottery player somewhere in the country could win an estimated $800 million grand prize.","Since then, there have been 35 consecutive drawings without a jackpot winner, according to Powerball." Should you sell your home now or wait for the Realtor settlement this summer?,https://edition.cnn.com/2024/03/24/investing/when-to-list-your-home-nar-settlement/index.html," Published 9:30 AM EDT, Sun March 24, 2024 ","Listing your home in the spring used to be a no-brainer. But a major real estate shakeup is complicating the equation. That shakeup is coming from a $418 million settlement the National Association of Realtors announced last week with groups of homesellers that could go into effect as early as July. The settlement will eliminate the long-standing standard 6% commission paid by the seller, which could ultimately make it cheaper to sell your home post-settlement. But is it worth waiting to list your home and potentially risking a sale? Would you rather be unloading boxes from a moving truck in a potential snowstorm or heatwave as opposed to when it’s a pleasant 60-degree day? That’s one of the main reasons spring has been the most popular season to buy a home. For families with children, it’s also an ideal time to close on home because it would allow them to stay in the same school. By springtime, people are also more likely to have paid off any debt they took on over the holidays, said Phil Crescenzo Jr., the southeast division vice president at Nation One Mortgage Corporation. The settlement could present a major downside to homebuyers. Under the current system, the buyer’s agent’s commission is baked into the total they pay for a home. That meant buyers could pay that added cost over the entire length of their mortgage. But after the settlement is finalized, many may have to pay flat fees upfront to agents. That would add to the financial burden for homebuyers – especially first-timers. And that’s on top of coming up with all the money they need for a home downpayment, closing costs, a lawyer and all the other fees associated with buying a home. Buyers, therefore, may have more of an incentive to close on a home sooner rather than later. There’s also no guarantee a federal court will sign off on the settlement as is. The unknowns associated with that are enough of a reason not to wait to list your home, said Crescenzo. From conversations he’s had with real estate agents, he said he’s not seeing any signs that the NAR settlement is delaying listing activity. “There is no reason to wait,” Mike Downer, a broker associate with Coldwell Banker Realty in Naples, Florida. “The seller does not currently need to provide any compensation to the buyer’s agent.” The biggest advantage of waiting to list your home until the settlement is finalized is being able to negotiate an agent’s commission down more than they otherwise would’ve been able to. On top of that, they may be able to avoid having to pay the buyer’s agent’s commission. That could allow them to pocket thousands of dollars more on the sale of their home. If selling your home boiled down to a business decision, Mike Downer, a broker associate with Coldwell Banker Realty in Naples, Florida, said he’d try to list it as soon as possible. “If I am trying to test the market, there would be no need to list it [now],” he added. But in his view, the NAR settlement shouldn’t be a major consideration when it comes to timing. “An agent who provides value will always be worth more than an agent who does not provide value,” because they can help you net more money for the sale of your home, he said.",CNN,24/03/2024,"['Listing your home in the spring used to be a no-brainer.', 'But a major real estate shakeup is complicating the equation.', 'That shakeup is coming from a$418 million settlementthe National Association of Realtors announced last week with groups of homesellers that could go into effect as early as July.', 'The settlement will eliminate the long-standing standard 6% commission paid by the seller, which could ultimately make it cheaper to sell your home post-settlement.', 'But is it worth waiting to list your home and potentially risking a sale?', 'Would you rather be unloading boxes from a moving truck in a potential snowstorm or heatwave as opposed to when it’s a pleasant 60-degree day?', 'That’s one of the main reasons spring has been the most popular season to buy a home.', 'For families with children, it’s also an ideal time to close on home because it would allow them to stay in the same school.', 'By springtime, people are also more likely to have paid off any debt they took on over the holidays, said Phil Crescenzo Jr., the southeast division vice president at Nation One Mortgage Corporation.', 'The settlement could present a major downside to homebuyers.', 'Under the current system, the buyer’s agent’s commission is baked into the total they pay for a home.', 'That meant buyers could pay that added cost over the entire length of their mortgage.', 'But after the settlement is finalized, many may have to pay flat fees upfront to agents.', 'That would add to the financial burden for homebuyers – especially first-timers.', 'And that’s on top of coming up with all the money they need for a home downpayment, closing costs, a lawyer and all the other fees associated with buying a home.', 'Buyers, therefore, may have more of an incentive to close on a home sooner rather than later.', 'There’s also no guarantee a federal court will sign off on the settlement as is.', 'The unknowns associated with that are enough of a reason not to wait to list your home, said Crescenzo.', 'From conversations he’s had with real estate agents, he said he’s not seeing any signs that the NAR settlement is delaying listing activity.', '“There is no reason to wait,” Mike Downer, a broker associate with Coldwell Banker Realty in Naples, Florida. “', 'The seller does not currently need to provide any compensation to the buyer’s agent.”', 'The biggest advantage of waiting to list your home until the settlement is finalized is being able to negotiate an agent’s commission down more than they otherwise would’ve been able to.', 'On top of that, they may be able to avoid having to pay the buyer’s agent’s commission.', 'That could allow them to pocket thousands of dollars more on the sale of their home.', 'If selling your home boiled down to a business decision, Mike Downer, a broker associate with Coldwell Banker Realty in Naples, Florida, said he’d try to list it as soon as possible.', '“If I am trying to test the market, there would be no need to list it [now],” he added.', 'But in his view, the NAR settlement shouldn’t be a major consideration when it comes to timing.', '“An agent who provides value will always be worth more than an agent who does not provide value,” because they can help you net more money for the sale of your home, he said.']",0.014665011888462845,"For families with children, it’s also an ideal time to close on home because it would allow them to stay in the same school.",That would add to the financial burden for homebuyers – especially first-timers. Florida governor signs law restricting social media access for children,https://edition.cnn.com/2024/03/25/tech/florida-social-media-law-age/index.html," Published 1:53 PM EDT, Mon March 25, 2024 ","Florida Republican Governor Ron DeSantis signed a bill into law banning children under age 14 from having their own social media accounts on Monday, according to a news release from the governor’s office. Fourteen and 15-year-olds will be allowed to have accounts with parental consent. In addition to restricting social media accounts for children, the legislation also places restrictions on pornographic websites. The bill, known as HB 3, requires age verification for those who visit sexually explicit websites. HB 3 goes into effect on January 1, 2025. The legislation makes Florida the latest in a string of states to pass laws that restrict young Americans from accessing social media, and is likely to invite legal challenges similar to those already filed in other parts of the country. States including Arkansas, California, Louisiana, Ohio and Utah have pushed similar bills to regulate tech platforms. In February, a federal judge temporarily blocked Ohio’s law over concerns about its breadth and the likelihood that it could infringe on teens’ First Amendment rights to access information online. And last year, another federal judge temporarily blocked Arkansas’ law. DeSantis vetoed a prior version of the Florida law after saying he wanted to ensure that any legislation provides parents with enough of an opportunity to be involved in decisions about their kids’ social media use.",CNN,25/03/2024,"['Florida Republican Governor Ron DeSantis signed a bill into law banning children under age 14 from having their own social media accounts on Monday, according to anews releasefrom the governor’s office.', 'Fourteen and 15-year-olds will be allowed to have accounts with parental consent.', 'In addition to restricting social media accounts for children, the legislation also places restrictions on pornographic websites.', 'The bill, known as HB 3, requires age verification for those who visit sexually explicit websites.', 'HB 3 goes into effect on January 1, 2025.', 'The legislation makes Florida the latest in a string of states to pass laws that restrict young Americans from accessing social media, and is likely to invite legal challenges similar to those already filed in other parts of the country.', 'States including Arkansas, California, Louisiana, Ohio and Utah have pushed similar bills to regulate tech platforms.', 'In February, a federal judge temporarily blocked Ohio’s law over concerns about its breadth and the likelihood that it could infringe on teens’ First Amendment rights to access information online.', 'And last year, another federal judge temporarily blocked Arkansas’ law.', 'DeSantis vetoed a prior version of the Florida law after saying he wanted to ensure that any legislation provides parents with enough of an opportunity to be involved in decisions about their kids’ social media use.']",-0.009374009930164772,DeSantis vetoed a prior version of the Florida law after saying he wanted to ensure that any legislation provides parents with enough of an opportunity to be involved in decisions about their kids’ social media use.,"In addition to restricting social media accounts for children, the legislation also places restrictions on pornographic websites." Donald Trump’s estimated net worth just doubled as Truth Social owner closes deal to go public,https://edition.cnn.com/2024/03/25/investing/trump-media-stock-trading/index.html," Updated 5:08 PM EDT, Mon March 25, 2024 ","Truth Social owner Trump Media & Technology Group has finalized its deal to go public, creating a massive windfall for former President Donald Trump that doubles his net worth. After Trump Media announced it will make its stock market debut on Tuesday, Trump for the first time joined the list of the world’s 500 wealthiest people on the Bloomberg Billionaires Index. Bloomberg estimated Trump’s net worth spiked by $4 billion on Monday alone, giving him a fortune of $6.5 billion. The closing of the merger between Trump Media and Digital World Acquisition Corp. amounts to a multi-billion dollar windfall for Trump, who is the chairman and dominant shareholder of the new company. News of the merger’s completion propelled shares of Digital World up 21%. Buying continued Monday afternoon, boosting Digital World 39% higher on the day to around $51. At current prices, Trump’s stake is valued at about $4 billion. However, there are lock-up restrictions that would likely prevent Trump from selling or even borrowing against the value of that stock for months. Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said. Devin Nunes, the CEO of the combined company, said in a statement that the business will move to “reclaim the Internet from Big Tech censors.” “We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors,” Nunes said. Shares of Digital World Acquisition Corp (DWAC), the shell company that now owns Truth Social, surged more than 20% on Monday. The stock is up over 170% over the past six months. Experts warn that the market is overvaluing Trump Media given the company’s fundamentals. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings. The company posted a net loss of $49 million over that span. Meanwhile, Truth Social’s user base is shrinking – more so than that of X, the company formerly known as Twitter. The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year, according to Similarweb data shared with CNN earlier this month. In anticipation of its merger with Trump Media, trading of DWAC shares had embodied the same kind of frenzy shown in Tupperware’s stock surge last July, or that of meme stocks AMC Entertainment and GameStop during the height of the pandemic. On Truth Social, there are more than 8,000 members in a chat group titled “The DWAC Shareholder Group,” where users discuss the shareholder vote to approve the merger and post memes and supportive messages. Contributing: CNN’s Elisabeth Buchwald and Krystal Hur. This story has been updated with additional context.",CNN,25/03/2024,"['Truth Social owner Trump Media & Technology Group has finalized its deal to go public, creating a massive windfall for former President Donald Trump that doubles his net worth.', 'After Trump Media announced it will make its stock market debut on Tuesday, Trump for the first time joined the list of the world’s 500 wealthiest people on the Bloomberg Billionaires Index.', 'Bloomberg estimated Trump’s net worth spiked by $4 billion on Monday alone, giving him a fortune of $6.5 billion.', 'The closing of the merger between Trump Media and Digital World Acquisition Corp. amounts to a multi-billion dollar windfall for Trump, who is the chairman and dominant shareholder of the new company.', 'News of the merger’s completion propelled shares of Digital World up 21%.', 'Buying continued Monday afternoon, boosting Digital World 39% higher on the day to around $51.', 'At current prices, Trump’s stake is valued at about $4 billion.', 'However, there are lock-up restrictions that would likely prevent Trump from selling or even borrowing against the value of that stock for months.', 'Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said.', 'Devin Nunes, the CEO of the combined company, said in a statement that the business will move to “reclaim the Internet from Big Tech censors.”', '“We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors,” Nunes said.', 'Shares of Digital World Acquisition Corp(DWAC), the shell company thatnowowns Truth Social, surged more than 20% on Monday.', 'The stock is up over 170% over the past six months.', 'Experts warn that the market is overvaluing Trump Media given the company’s fundamentals.', 'Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.', 'The company posted a net loss of $49 million over that span.', 'Meanwhile, Truth Social’s user base is shrinking – more so than that of X, the company formerly known as Twitter.', 'The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year, according to Similarweb data shared with CNN earlier this month.', 'In anticipation of its merger with Trump Media, trading of DWAC shares had embodied the same kind of frenzy shown inTupperware’s stock surgelast July, or that of meme stocks AMC Entertainment and GameStop during the height of the pandemic.', 'On Truth Social, there are more than 8,000 members in a chat group titled “The DWAC Shareholder Group,” where users discuss theshareholdervoteto approve the mergerand post memes and supportive messages.', 'Contributing: CNN’s Elisabeth Buchwald and Krystal Hur.', 'This story has been updated with additional context.']",0.2742322368608994,"“We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors,” Nunes said.",The company posted a net loss of $49 million over that span. George Lucas backs Disney CEO Bob Iger in proxy fight with Nelson Peltz,https://www.cnbc.com/2024/03/19/george-lucas-backs-disney-ceo-bob-iger-in-nelson-peltz-proxy-fight.html,2024-03-19T22:17:24+0000,"In this articleFilmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz.Lucas, who received 37.1 million Disney shares as part of Disney's $4.05 billion purchase of Lucasfilm in 2012, is currently the largest individual investor in the company, multiple sources confirmed to CNBC.In a statement provided to CNBC, Lucas wrote:""Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob's track record of driving long-term value. I have voted all of my shares for Disney's 12 directors and urge other shareholders to do the same.""Disney has lined up a number of high-profile endorsements in its battle against Peltz and his firm, Trian Fund Management, from the heirs of Walt and Roy Disney to JPMorgan Chase CEO Jamie Dimon.But the support from the Lucas endorsement is key, not only because of his role as Disney's largest individual shareholder, but also because of his standing in Hollywood. Lucas wrote and created the ""Star Wars"" and ""Indiana Jones"" franchises, some of the most popular films in history, and he helped pioneer tools such as digital film editing and computer-generated imagery.Peltz has asked investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3. Among other things, Peltz wants to overhaul Disney's traditional TV channels, which he thinks have been a shrinking business.Iger, meanwhile, has been trying to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable. Iger has instituted broad restructuring, including thousands of layoffs.",CNBC,19/03/2024,"['In this articleFilmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz.', 'Lucas, who received 37.1 million Disney shares as part of Disney\'s $4.05 billion purchase of Lucasfilm in 2012, is currently the largest individual investor in the company, multiple sources confirmed to CNBC.In a statement provided to CNBC, Lucas wrote:""Creating magic is not for amateurs.', ""When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership."", 'When Bob recently returned to the company during a difficult time, I was relieved.', 'No one knows Disney better.', ""I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob's track record of driving long-term value."", ""I have voted all of my shares for Disney's 12 directors and urge other shareholders to do the same."", '""Disney has lined up a number of high-profile endorsements in its battle against Peltz and his firm, Trian Fund Management, from the heirs of Walt and Roy Disney to JPMorgan Chase CEO Jamie Dimon.', ""But the support from the Lucas endorsement is key, not only because of his role as Disney's largest individual shareholder, but also because of his standing in Hollywood."", 'Lucas wrote and created the ""Star Wars"" and ""Indiana Jones"" franchises, some of the most popular films in history, and he helped pioneer tools such as digital film editing and computer-generated imagery.', 'Peltz has asked investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3.', ""Among other things, Peltz wants to overhaul Disney's traditional TV channels, which he thinks have been a shrinking business."", 'Iger, meanwhile, has been trying to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable.', 'Iger has instituted broad restructuring, including thousands of layoffs.']",0.21644593979789212,I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob's track record of driving long-term value.,In this articleFilmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz. Leo Varadkar: Five key moments for the Brexit Taoiseach,https://www.bbc.co.uk/news/articles/c6pj0j3le6no,2024-03-21T07:27:53.936Z,"Leo Varadkar was taoiseach during the most intense phase of Brexit, when the Irish border was central to negotiations. In January 2017, the then UK Prime Minister Theresa May said Brexit would mean the UK leaving the single market and the customs union. That had immediate implications for Ireland, raising the prospect that it would have to harden its border with Northern Ireland. The Irish government quickly decided that would be a bad idea for economic, political and security reasons. Its Brexit bottom line was that there could be no hard border and Ireland’s place in the EU should be undisturbed. It fell to Leo Varadkar to pursue that policy. There is a perception among some Brexit supporters that Ireland’s approach hardened when Mr Varadkar became taoiseach and that his predecessor Enda Kenny would have been a friendlier, more accommodating partner for the UK. However Ireland’s key Brexit policy had been set months before Mr Varadkar took the top job. The EU’s negotiating guidelines of April 2017 had the avoidance of a hard border in Ireland as one of its three priorities. There was certainly a stylistic contrast between Mr Kenny and Mr Varadkar. The new taoiseach could be brusque, even blunt. A month after becoming taoiseach he made clear his exasperation with some of the ideas for the border coming from Brexit supporters. ""What we’re not going to do is to design a border for the Brexiteers because they’re the ones who want a border,"" he said. ""It’s up to them to say what it is, say how it would work and first of all convince their own people, their own voters that this is actually a good idea. ""As far as this government is concerned there shouldn’t be an economic border. We don’t want one."" This robust defence of Ireland’s interest set the tone for his approach over the next few years. Throughout the second half of 2017 EU and UK negotiators laboured to find a way to square Theresa May’s hard Brexit with a soft Irish border. An interim agreement called the Joint Report saw the UK implicitly concede that an Irish Sea border, between NI and GB, could be a solution. The Joint Report laid out three possibilities: • The border issue could be solved in the context of an overall trade deal • There could be technological and administrative solutions • Northern Ireland could continue to follow some rules of the EU internal market and the customs union - this was known as the backstop For Mr Varadkar this was effectively mission accomplished with the UK signing up to a text which ruled out a hard border. ‘We have achieved all we set out to achieve in phase one of these negotiations,’ he said. ‘We have the assurances and guarantees we need from the United Kingdom and support for them from the European Union.’ He went on to paraphrase Winston Churchill describing the agreement as ‘not the end, but it is the end of the beginning.’ Mr Varadkar was right to suggest that the Brexit negotiations would not be concluded quickly. Throughout 2018 it became clear that Theresa May had signed up to a deal that would not win majority support in the House of Commons. Most importantly the DUP, which was keeping her party in power, was opposed to the backstop. There was an interminable series of summits and negotiations in an attempt to finesse the deal. At a meeting of EU leaders in October 2018 Mr Varadkar sought to impress on his peers just how important it was to stand firm on the border issue. He showed them a story from that day’s Irish Times about the IRA bombing of a customs post in 1972 in which nine people were killed. This provoked outrage among unionists who suggested he was using the threat of violence to advance his political agenda. Mr Varadkar said this was never his intention later explaining: ‘I have never used a threat of violence in politics. ‘What I did was express concerns at the time that were held by the Chief Constable and the Garda Commissioner, that the reestablishment of border posts between north and south could lead to violence. ""But there’s a very big difference I think, between warning or expressing concern about violence, and threatening it, and I certainly didn’t do that.” But this episode became emblematic of the low opinion many unionists had of his approach to Brexit. Mr Varadkar had a new UK counterpart in July 2019 when Boris Johnson replaced Theresa May. He promised to ditch the backstop but by October, he was proposing an ""all-island regulatory zone"" which would effectively keep Northern Ireland in the EU's single market for agriculture, food and all manufactured goods. However, the Irish government and the EU were not convinced as the plan would have potentially meant a new customs border in Ireland. They were also concerned an up-front veto for the DUP could prevent the ""all-island regulatory zone"" from ever materialising. But then came a decisive meeting with Mr Varadkar at Thornton Manor on Merseyside. This would prove to be the engagement which unlocked a deal that would finally be approved by the UK Parliament. Mr Johnson accepted that there would be a border in the Irish Sea while Mr Varadkar conceded that Stormont would need to have some democratic oversight. A joint statement said: ""Both continue to believe that a deal is in everybody’s interest. They agreed that they could see a pathway to a possible deal."" Just a week later, the UK and EU had agreed the Northern Ireland protocol. An amended version of the protocol, the Windsor Framework, now governs NI’s post-Brexit trading arrangements. As Mr Varadkar announced his resignation on Wednesday he counted his approach to Brexit among his key achievements. He referenced Ireland’s original objectives saying: ""We prevented a hard border between North and South and protected our place in Europe."" He also suggested that with the DUP’s return to government a period of difficult relations, east-west as well as north-south, was now beginning to heal. ""The institutions of the Good Friday Agreement are working again, and our trading relationship with the United Kingdom, in the post-Brexit era, is settled and stable,"" he concluded. ",BBC,21/03/2024,"['Leo Varadkar was taoiseach during the most intense phase of Brexit, when the Irish border was central to negotiations.', 'In January 2017, the then UK Prime Minister Theresa May said Brexit would mean the UK leaving the single market and the customs union.', 'That had immediate implications for Ireland, raising the prospect that it would have to harden its border with Northern Ireland.', 'The Irish government quickly decided that would be a bad idea for economic, political and security reasons.', 'Its Brexit bottom line was that there could be no hard border and Ireland’s place in the EU should be undisturbed.', 'It fell to Leo Varadkar to pursue that policy.', 'There is a perception among some Brexit supporters that Ireland’s approach hardened when Mr Varadkar became taoiseach and that his predecessor Enda Kenny would have been a friendlier, more accommodating partner for the UK.', 'However Ireland’s key Brexit policy had been set months before Mr Varadkar took the top job.', 'The EU’s negotiating guidelines of April 2017 had the avoidance of a hard border in Ireland as one of its three priorities.', 'There was certainly a stylistic contrast between Mr Kenny and Mr Varadkar.', 'The new taoiseach could be brusque, even blunt.', 'A month after becoming taoiseach he made clear his exasperation with some of the ideas for the border coming from Brexit supporters. ""', 'What we’re not going to do is to design a border for the Brexiteers because they’re the ones who want a border,"" he said. ""', 'It’s up to them to say what it is, say how it would work and first of all convince their own people, their own voters that this is actually a good idea. ""', 'As far as this government is concerned there shouldn’t be an economic border.', 'We don’t want one.""', 'This robust defence of Ireland’s interest set the tone for his approach over the next few years.', 'Throughout the second half of 2017 EU and UK negotiators laboured to find a way to square Theresa May’s hard Brexit with a soft Irish border.', 'An interim agreement called the Joint Report saw the UK implicitly concede that an Irish Sea border, between NI and GB, could be a solution.', 'The Joint Report laid out three possibilities: • The border issue could be solved in the context of an overall trade deal • There could be technological and administrative solutions • Northern Ireland could continue to follow some rules of the EU internal market and the customs union - this was known as the backstop For Mr Varadkar this was effectively mission accomplished with the UK signing up to a text which ruled out a hard border. ‘', 'We have achieved all we set out to achieve in phase one of these negotiations,’ he said. ‘', 'We have the assurances and guarantees we need from the United Kingdom and support for them from the European Union.’', 'He went on to paraphrase Winston Churchill describing the agreement as ‘not the end, but it is the end of the beginning.’', 'Mr Varadkar was right to suggest that the Brexit negotiations would not be concluded quickly.', 'Throughout 2018 it became clear that Theresa May had signed up to a deal that would not win majority support in the House of Commons.', 'Most importantly the DUP, which was keeping her party in power, was opposed to the backstop.', 'There was an interminable series of summits and negotiations in an attempt to finesse the deal.', 'At a meeting of EU leaders in October 2018 Mr Varadkar sought to impress on his peers just how important it was to stand firm on the border issue.', 'He showed them a story from that day’s Irish Times about the IRA bombing of a customs post in 1972 in which nine people were killed.', 'This provoked outrage among unionists who suggested he was using the threat of violence to advance his political agenda.', 'Mr Varadkar said this was never his intention later explaining: ‘I have never used a threat of violence in politics. ‘', 'What I did was express concerns at the time that were held by the Chief Constable and the Garda Commissioner, that the reestablishment of border posts between north and south could lead to violence. ""', 'But there’s a very big difference I think, between warning or expressing concern about violence, and threatening it, and I certainly didn’t do that.”', 'But this episode became emblematic of the low opinion many unionists had of his approach to Brexit.', 'Mr Varadkar had a new UK counterpart in July 2019 when Boris Johnson replaced Theresa May.', 'He promised to ditch the backstop but by October, he was proposing an ""all-island regulatory zone"" which would effectively keep Northern Ireland in the EU\'s single market for agriculture, food and all manufactured goods.', 'However, the Irish government and the EU were not convinced as the plan would have potentially meant a new customs border in Ireland.', 'They were also concerned an up-front veto for the DUP could prevent the ""all-island regulatory zone"" from ever materialising.', 'But then came a decisive meeting with Mr Varadkar at Thornton Manor on Merseyside.', 'This would prove to be the engagement which unlocked a deal that would finally be approved by the UK Parliament.', 'Mr Johnson accepted that there would be a border in the Irish Sea while Mr Varadkar conceded that Stormont would need to have some democratic oversight.', 'A joint statement said: ""Both continue to believe that a deal is in everybody’s interest.', 'They agreed that they could see a pathway to a possible deal.""', 'Just a week later, the UK and EU had agreed the Northern Ireland protocol.', 'An amended version of the protocol, the Windsor Framework, now governs NI’s post-Brexit trading arrangements.', 'As Mr Varadkar announced his resignation on Wednesday he counted his approach to Brexit among his key achievements.', 'He referenced Ireland’s original objectives saying: ""We prevented a hard border between North and South and protected our place in Europe.""', 'He also suggested that with the DUP’s return to government a period of difficult relations, east-west as well as north-south, was now beginning to heal. ""', 'The institutions of the Good Friday Agreement are working again, and our trading relationship with the United Kingdom, in the post-Brexit era, is settled and stable,"" he concluded.']",0.11933180626716132,"The institutions of the Good Friday Agreement are working again, and our trading relationship with the United Kingdom, in the post-Brexit era, is settled and stable,"" he concluded.",This provoked outrage among unionists who suggested he was using the threat of violence to advance his political agenda. "February home sales spike 9.5%, the largest monthly gain in a year, as supply improves",https://www.cnbc.com/2024/03/21/february-2024-home-sales-spike.html,2024-03-21T16:40:35+0000,"Sales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. Housing analysts had been expecting a slight drop.Sales were down 3.3% year over year, but it was the largest monthly gain since February 2023. Sales surged the most in the West, up 19.4%, and the South, up 16.4%. Sales in the Northeast were unchanged.""Additional housing supply is helping to satisfy market demand,"" said Lawrence Yun, NAR's chief economist. ""Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices.""Inventory rose 10.3% year over year to 1.07 million homes for sale at the end of February. That represents a still low 2.9-month supply at the current sales pace.Higher demand continued to push the median price higher, up 5.7% from the year before to $384,500 — the eighth straight month of annual gains. Competition was stiff, with 20% of homes selling above list price.The sales count is based on closings, so contracts likely signed in December and January, when the 30-year fixed mortgage rate dropped to the mid 6% range. It is now over 7%, according to Mortgage News Daily.First-time buyers, however, did not surge with overall sales. They represented just 26% of buyers in February, down from 28% in January. Roughly 40% is the historical norm. All-cash sales were at 33%, up from 28% the year before.""The stock market, maybe that is helping, or the record-high home prices. People from expensive states like California are going to more affordable markets like Florida or Georgia and paying all cash,"" Yun said, adding that consumers may be accepting a ""new normal"" for mortgage rates.",CNBC,21/03/2024,"['Sales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors.', 'Housing analysts had been expecting a slight drop.', 'Sales were down 3.3% year over year, but it was the largest monthly gain since February 2023.', 'Sales surged the most in the West, up 19.4%, and the South, up 16.4%.', 'Sales in the Northeast were unchanged.', '""Additional housing supply is helping to satisfy market demand,"" said Lawrence Yun, NAR\'s chief economist. ""', 'Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices.', '""Inventory rose 10.3% year over year to 1.07 million homes for sale at the end of February.', 'That represents a still low 2.9-month supply at the current sales pace.', 'Higher demand continued to push the median price higher, up 5.7% from the year before to $384,500 — the eighth straight month of annual gains.', 'Competition was stiff, with 20% of homes selling above list price.', 'The sales count is based on closings, so contracts likely signed in December and January, when the 30-year fixed mortgage rate dropped to the mid 6% range.', 'It is now over 7%, according to Mortgage News Daily.', 'First-time buyers, however, did not surge with overall sales.', 'They represented just 26% of buyers in February, down from 28% in January.', 'Roughly 40% is the historical norm.', 'All-cash sales were at 33%, up from 28% the year before.', '""The stock market, maybe that is helping, or the record-high home prices.', 'People from expensive states like California are going to more affordable markets like Florida or Georgia and paying all cash,"" Yun said, adding that consumers may be accepting a ""new normal"" for mortgage rates.']",0.14829128799764044,"People from expensive states like California are going to more affordable markets like Florida or Georgia and paying all cash,"" Yun said, adding that consumers may be accepting a ""new normal"" for mortgage rates.",That represents a still low 2.9-month supply at the current sales pace. "The last time Trump took a ‘DJT’ business public, it ended up in bankruptcy",https://edition.cnn.com/2024/03/25/investing/trump-stock/index.html," Updated 5:33 PM EDT, Mon March 25, 2024 ","Starting Tuesday, there’s a new company on the Nasdaq: Trump Media & Technology Group, which will trade under the stock ticker DJT. DJT, of course, stands for Donald John Trump, underscoring the company’s raison d’etre — giving a megaphone (and a serious cash infusion) to the presumptive Republican nominee. The company’s main product, Truth Social, was Trump’s quick and dirty solution to his ban on practically every mainstream social media app in the wake of the January 6, 2021, attack on the US Capitol. The social media app was never a blockbuster, though, and it’s unclear how the company will ever make money. If that all sounds familiar, that’s because we’ve been down this road before. While Trump Media may be new, its stock ticker is a throwback to Trump’s only other publicly traded company. Trump bestowed the same initials on his Atlantic City casino business, Trump Hotels and Casino Resorts, back when that company went public in 1995. It didn’t go great. At least, not for investors. Trump Hotels and Casino Resorts never turned a profit and ended up in bankruptcy in 2004, wiping out shareholders. Trump’s company lost money every single year of its existence, putting it more than $600 million in the red — despite owning premier Atlantic City casinos, including the Trump Taj Mahal, a place so opulent Trump called it “the eighth wonder of the world.” The stock lost 90% its value in its first five years as a public company. Yet Trump himself made out fine. Between 1995 and 2004, Trump took home about $40 million in salary, bonuses and options — not unusual for a CEO. Then there were the less common moneymaking methods, including consulting contracts, licensing deals and reimbursements for the use of his personal jet and golf courses. Those atypical payments made up about half of the money Trump made during his tenure as the company’s leader. “The money I took out of there was incredible,” Trump told the New York Times in 2016. Trump’s stock holdings were wiped out in the bankruptcy. But he continued to make millions of dollars from the company after it came out of bankruptcy, pocketing $6.1 million from the re-named Trump Entertainment Resorts company, which traded under a new ticker — you guessed it! — TRMP. The new name and ticker didn’t help the company, though. It lost $2 billion over five years and filed for bankruptcy a second time in 2009. Like its predecessor, the new DJT is enjoying some market enthusiasm following the merger between Trump’s media entity and Digital World Acquisition Corp. Shares of DWAC surged 40% Monday and are up over 170% over the past six months. But a look at the fundamentals suggests the stock is wildly overvalued. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings. “The stock price is clearly a bubble,” Yale law professor Jonathan Macey told my colleague Matt Egan last week. “No rational investor would take the stock at face value, especially if they had to hold it for any length of time.” Meanwhile, Truth Social’s user base is shrinking – more so than that of X, the company formerly known as Twitter. At current prices, Trump’s stake is valued at about $4 billion. In theory, he’s not allowed to sell that stock for several months after trading begins. But there could be workarounds to that so-called lock-up period, if the company’s board of directors allow it. And the board may be more amenable to green-lighting that now that Trump’s civil fraud bond obligation has shrunk by more than 60%. Trump would have to sell a much smaller sliver of his stake in Trump Media to cover his modified bond payment — $175 million, down from $454 million — to cover any shortfall. — CNN’s Matt Egan contributed reporting.",CNN,25/03/2024,"['Starting Tuesday, there’s a new company on the Nasdaq:Trump Media & Technology Group, which will trade under the stock ticker DJT.', 'DJT, of course, stands for Donald John Trump, underscoring the company’s raison d’etre — giving a megaphone (and a serious cash infusion) to the presumptive Republican nominee.', 'The company’s main product, Truth Social, was Trump’s quick and dirty solution to his ban on practically every mainstream social media app in the wake of the January 6, 2021, attack on the US Capitol.', 'The social media app was never a blockbuster, though, and it’s unclear how the company will ever make money.', 'If that all sounds familiar, that’s because we’ve been down this road before.', 'While Trump Media may be new, its stock ticker is a throwback to Trump’s only other publicly traded company.', 'Trump bestowed the same initials on his Atlantic City casino business, Trump Hotels and Casino Resorts, back when that company went public in 1995.', 'It didn’t go great.', 'At least, not for investors.', 'Trump Hotels and Casino Resorts never turned a profit and ended up in bankruptcy in 2004, wiping out shareholders.', 'Trump’s company lost money every single year of its existence, putting it more than $600 million inthe red — despite owning premier Atlantic City casinos, including the Trump Taj Mahal, a place so opulent Trump called it “the eighth wonder of the world.”', 'The stock lost 90% its value in its first five years as a public company.', 'Yet Trump himself made out fine.', 'Between 1995 and 2004, Trump took home about $40 million in salary, bonuses and options — not unusual for a CEO.', 'Then there were the less common moneymaking methods, including consulting contracts, licensing deals and reimbursements for the use of his personal jet and golf courses.', 'Those atypical payments made up about half of the money Trump made during his tenure as the company’s leader.', '“The money I took out of there was incredible,” Trump told the New York Times in 2016.', 'Trump’s stock holdings were wiped out in the bankruptcy.', 'But he continued to make millions of dollars from the company after it came out of bankruptcy, pocketing $6.1 million from the re-named Trump Entertainment Resorts company, which traded under a new ticker — you guessed it! —', 'TRMP.', 'The new name and ticker didn’t help the company, though.', 'It lost $2 billion over five years and filed for bankruptcy a second time in 2009.', 'Like its predecessor, the new DJT is enjoying some market enthusiasm following the merger between Trump’s media entity and Digital World Acquisition Corp. Shares of DWAC surged 40% Monday and are up over 170% over the past six months.', 'But a look at the fundamentals suggests the stock is wildly overvalued.', 'Trump Media generated just $3.4 million of revenue through the first nine months of last year, according toSECfilings.', '“The stock price is clearly a bubble,” Yale law professor Jonathan Macey told my colleague Matt Egan last week. “', 'No rational investor would take the stock at face value, especially if they had to hold it for any length of time.”', 'Meanwhile, Truth Social’s user base is shrinking – more so than that of X, the company formerly known as Twitter.', 'At current prices, Trump’s stake is valued at about $4 billion.', 'In theory, he’s not allowed to sell that stock for several months after trading begins.', 'But there could be workarounds to that so-called lock-up period, if the company’s board of directors allow it.', 'And the board may be more amenable to green-lighting that now that Trump’s civil fraud bond obligation has shrunk by more than 60%.', 'Trump would have to sell a much smaller sliver of his stake in Trump Media to cover his modified bond payment — $175 million, down from $454 million — to cover any shortfall.', '— CNN’s Matt Egan contributed reporting.']",0.06472580320246858,"Like its predecessor, the new DJT is enjoying some market enthusiasm following the merger between Trump’s media entity and Digital World Acquisition Corp. Shares of DWAC surged 40% Monday and are up over 170% over the past six months.","The company’s main product, Truth Social, was Trump’s quick and dirty solution to his ban on practically every mainstream social media app in the wake of the January 6, 2021, attack on the US Capitol." Boeing chief executive Dave Calhoun to leave as firm faces safety crisis,https://www.bbc.co.uk/news/business-68656925,2024-03-25T12:25:37.000Z,"Boeing boss Dave Calhoun will leave at the end of this year amid a deepening crisis over the firm's safety record. Boeing also said that the head of its commercial airlines division will retire immediately while its chairman will not stand for re-election. The firm is under pressure after an unused door blew out of a Boeing 737 Max in January shortly after take-off. No-one was injured but the firm's safety and quality control standards came under renewed scrutiny. Many analysts said a change in Boeing's leadership was overdue. ""A shake-up at the top is necessary,"" said Stewart Glickman, equity analyst at CFRA Research, adding that he believed the current crisis stemmed from problems in the firm's corporate culture that only fresh insight would be able to fix. ""I don't think you can change the culture with internal voices because I think this has been modus operandi for this company for too long."" Mr Calhoun took on the chief executive role in early 2020 after the previous boss, Dennis Muilenburg, was ousted in the aftermath of one of the biggest scandals in Boeing's history. Within the space of five months, two brand new 737 Max planes had been lost in almost identical accidents that claimed the lives of 346 passengers and crew. A board member at the time, after being made boss Mr Calhoun promised to strengthen Boeing's ""safety culture"" and ""rebuild trust"". However, in January this year a disused emergency exit door blew off a new Alaska Airlines Boeing 737 Max shortly after take-off from Portland International Airport. An initial report from the US National Transportation Safety Board concluded that four bolts meant to attach the door securely to the aircraft had not been fitted. Boeing is facing a criminal investigation into the incident itself, as well as legal action from passengers aboard the plane. In a letter to staff on Monday, Mr Calhoun described the Alaska Airlines incident as a ""watershed moment"" for Boeing and said it had to respond with ""humility and complete transparency"". ""The eyes of the world are on us, and I know that we will come through this moment a better company,"" he said. Air safety campaigner Ed Pierson, a former senior manager at Boeing's 737 factory in Renton, Washington, said Mr Calhoun had had years to try to boost safety at the company. ""It's been one failure after the other,"" said Mr Pierson, who is now executive director at The Foundation for Aviation Safety. ""The company deserves much better leadership and the people who get on these airplanes deserve much better leadership."" The blowout had tested Boeing's relationships with its airline customers and regulators in Washington, reviving concerns that the company's corporate culture had focused on speed ahead of safety. The Federal Aviation Administration said earlier this month that a six-week audit of the 737 Max production process at Boeing and its supplier Spirit Aerosystems had found ""multiple instances where the companies failed to comply with manufacturing quality control requirements"". The findings came shortly after another report into Boeing's safety culture by an expert panel found a ""disconnect"" between senior management and regular staff, as well as signs that staff were hesitant about reporting problems for fear of retaliation. After the two plane crashes in October 2018 and 2019, it was found that flawed flight control software caused the incidents - details of which Boeing was accused of deliberately concealing from regulators. The company agreed to pay $2.5bn (£1.8bn) to settle fraud charges and admitted deception, though in later court hearings it formally pleaded not guilty. It subsequently faced widespread accusations that it had put profits ahead of passengers' lives. Mark Pegram, whose 25-year-old son Sam died when Ethiopian Airlines 737 Max crashed in 2019, said Mr Calhoun had appeared to have been brought in to say what investors wanted to hear and ""not fix the cause of the problems that were making planes fall out of the sky"". He said he was pleased by the change but disappointed it had taken so long. ""It's something we've been calling for for quite some time now,"" he said. The crisis at Boeing has caused wider disruption in the travel industry as the company, one of the world's two major jet-makers, slows its manufacturing lines to try to get a grip on the problems. Airlines, including Ryanair, have warned of higher ticket prices and more limited flight schedules as they face delayed aircraft deliveries. For Boeing, the slowdown is already generating multi-billion dollar charges, while rival Airbus gains advantage. The firm is also facing criticism it has failed to innovate. Speculation has already started as to who might replace Mr Calhoun, but the pool of people with qualifications for such a job is small. Air transport consultant John Strickland of JLS Consulting warned that the hard work for the company was still ahead. ""It's all very well to get rid of people but what are you going to do to keep the steering the business,"" Mr Strickland said. ""This is much easier said than done."" Shares in the company rose more than 1% after the changes were announced. As well as Mr Calhoun, Stan Deal will leave his role as head of Boeing's commercial airlines division immediately. He will be replaced by Stephanie Pope who has spent the past three months working as the Boeing's chief operating officer. Larry Kellner, the firm's chair will also leave and be replaced by Steve Mollenkopf, the former boss of Qualcomm who has been a board member at Boeing since 2020. He will lead the search for a new chief executive. ",BBC,25/03/2024,"[""Boeing boss Dave Calhoun will leave at the end of this year amid a deepening crisis over the firm's safety record."", 'Boeing also said that the head of its commercial airlines division will retire immediately while its chairman will not stand for re-election.', 'The firm is under pressure after an unused door blew out of a Boeing 737 Max in January shortly after take-off.', ""No-one was injured but the firm's safety and quality control standards came under renewed scrutiny."", 'Many analysts said a change in Boeing\'s leadership was overdue. ""', 'A shake-up at the top is necessary,"" said Stewart Glickman, equity analyst at CFRA Research, adding that he believed the current crisis stemmed from problems in the firm\'s corporate culture that only fresh insight would be able to fix. ""', 'I don\'t think you can change the culture with internal voices because I think this has been modus operandi for this company for too long.""', ""Mr Calhoun took on the chief executive role in early 2020 after the previous boss, Dennis Muilenburg, was ousted in the aftermath of one of the biggest scandals in Boeing's history."", 'Within the space of five months, two brand new 737 Max planes had been lost in almost identical accidents that claimed the lives of 346 passengers and crew.', 'A board member at the time, after being made boss Mr Calhoun promised to strengthen Boeing\'s ""safety culture"" and ""rebuild trust"".', 'However, in January this year a disused emergency exit door blew off a new Alaska Airlines Boeing 737 Max shortly after take-off from Portland International Airport.', 'An initial report from the US National Transportation Safety Board concluded that four bolts meant to attach the door securely to the aircraft had not been fitted.', 'Boeing is facing a criminal investigation into the incident itself, as well as legal action from passengers aboard the plane.', 'In a letter to staff on Monday, Mr Calhoun described the Alaska Airlines incident as a ""watershed moment"" for Boeing and said it had to respond with ""humility and complete transparency"". ""', 'The eyes of the world are on us, and I know that we will come through this moment a better company,"" he said.', 'Air safety campaigner Ed Pierson, a former senior manager at Boeing\'s 737 factory in Renton, Washington, said Mr Calhoun had had years to try to boost safety at the company. ""', 'It\'s been one failure after the other,"" said Mr Pierson, who is now executive director at The Foundation for Aviation Safety. ""', 'The company deserves much better leadership and the people who get on these airplanes deserve much better leadership.""', ""The blowout had tested Boeing's relationships with its airline customers and regulators in Washington, reviving concerns that the company's corporate culture had focused on speed ahead of safety."", 'The Federal Aviation Administration said earlier this month that a six-week audit of the 737 Max production process at Boeing and its supplier Spirit Aerosystems had found ""multiple instances where the companies failed to comply with manufacturing quality control requirements"".', 'The findings came shortly after another report into Boeing\'s safety culture by an expert panel found a ""disconnect"" between senior management and regular staff, as well as signs that staff were hesitant about reporting problems for fear of retaliation.', 'After the two plane crashes in October 2018 and 2019, it was found that flawed flight control software caused the incidents - details of which Boeing was accused of deliberately concealing from regulators.', 'The company agreed to pay $2.5bn (£1.8bn) to settle fraud charges and admitted deception, though in later court hearings it formally pleaded not guilty.', ""It subsequently faced widespread accusations that it had put profits ahead of passengers' lives."", 'Mark Pegram, whose 25-year-old son Sam died when Ethiopian Airlines 737 Max crashed in 2019, said Mr Calhoun had appeared to have been brought in to say what investors wanted to hear and ""not fix the cause of the problems that were making planes fall out of the sky"".', 'He said he was pleased by the change but disappointed it had taken so long. ""', 'It\'s something we\'ve been calling for for quite some time now,"" he said.', ""The crisis at Boeing has caused wider disruption in the travel industry as the company, one of the world's two major jet-makers, slows its manufacturing lines to try to get a grip on the problems."", 'Airlines, including Ryanair, have warned of higher ticket prices and more limited flight schedules as they face delayed aircraft deliveries.', 'For Boeing, the slowdown is already generating multi-billion dollar charges, while rival Airbus gains advantage.', 'The firm is also facing criticism it has failed to innovate.', 'Speculation has already started as to who might replace Mr Calhoun, but the pool of people with qualifications for such a job is small.', 'Air transport consultant John Strickland of JLS Consulting warned that the hard work for the company was still ahead. ""', 'It\'s all very well to get rid of people but what are you going to do to keep the steering the business,"" Mr Strickland said. ""', 'This is much easier said than done.""', 'Shares in the company rose more than 1% after the changes were announced.', ""As well as Mr Calhoun, Stan Deal will leave his role as head of Boeing's commercial airlines division immediately."", ""He will be replaced by Stephanie Pope who has spent the past three months working as the Boeing's chief operating officer."", ""Larry Kellner, the firm's chair will also leave and be replaced by Steve Mollenkopf, the former boss of Qualcomm who has been a board member at Boeing since 2020."", 'He will lead the search for a new chief executive.']",-0.06846143444782206,"A board member at the time, after being made boss Mr Calhoun promised to strengthen Boeing's ""safety culture"" and ""rebuild trust"".","The crisis at Boeing has caused wider disruption in the travel industry as the company, one of the world's two major jet-makers, slows its manufacturing lines to try to get a grip on the problems." Fed holds interest rates steady but signals cuts ahead,https://www.bbc.co.uk/news/business-68619144,2024-03-20T18:12:55.000Z,"The US central bank has left its key interest rate unchanged again, while it looks for more evidence that inflation is coming under control. The decision kept the target range for the Federal Reserve's influential rate in the range of 5.25%-5.5%, the highest in more than two decades. The Fed is debating whether higher borrowing costs have done enough to ease the pressures pushing up prices. Officials said they still expected to cut rates by the end of the year. But after raising borrowing costs aggressively in response to soaring prices in 2022, the bank is proceeding cautiously. ""We want to be careful and fortunately with the economy growing, the labour market strong and inflation coming down, we can"" be, Fed chairman Jerome Powell said at a press conference after the Fed's meeting. The Fed's move comes a day before the Bank of England will announce its own interest rate decision. It is also expected to hold UK interest rates where they are, at 5.25%, a 15-year high. Higher interest rates in theory work to cool inflation by make borrowing more expensive, slowing the economy and easing the pressures pushing up prices. But if left in place for too long, they risk triggering a harsh economic slowdown. The moves in the US are being closely watched, as countries around the world face similar trade-offs. For now, the world's largest economy has held up surprisingly well, despite the higher interest rates. Forecasts released after the meeting showed that officials expect the economy to grow 2.1% this year, a significantly more rosy outlook than the 1.4% they projected in December. The forecasts also showed officials expect inflation to fall to 2.4% by the end of the year, approaching the 2% rate the bank wants to see. Mr Powell said officials were not overly concerned by some recent data, which has suggested that progress might be stalling. The inflation rate was 3.2% in the US last month and 3.1% in January. ""We're not going to overreact to these two months of data, nor are we going to ignore them,"" he said. The forecasts showed higher rates next year than officials had previously forecast. But overall the outlook suggested that the bank's confidence that it can rein in inflation without knocking the economy off course is growing. Charles Mangin, head of foreign exchange at UK-based Crown Agents Bank, which specialises in emerging markets, said the growth in the US was ""quite impressive"". But he warned that if strong growth leads the US to keep interest rates higher for longer than expected, it could lead to economic pain in other countries. Emerging markets have seen foreign investment slow sharply, as investors shift money to more established economies like the US in response to higher rates. Central banks in countries such as Egypt and Nigeria have already raised their own interest rates aggressively to try to compete, a path others may have to follow if they hope to bring investors back, he said. But those moves - which sent rates to more than 20% in Egypt and Nigeria- will not come without local costs, he warned. ""The premium [to which] these guys will have to push their rates ... will put stress on the economies,"" he said. ""If now we're in the scenario where the US are going to keep rates higher for longer, it's going to be a challenge for quite a few of the emerging markets countries."" ",BBC,20/03/2024,"['The US central bank has left its key interest rate unchanged again, while it looks for more evidence that inflation is coming under control.', ""The decision kept the target range for the Federal Reserve's influential rate in the range of 5.25%-5.5%, the highest in more than two decades."", 'The Fed is debating whether higher borrowing costs have done enough to ease the pressures pushing up prices.', 'Officials said they still expected to cut rates by the end of the year.', 'But after raising borrowing costs aggressively in response to soaring prices in 2022, the bank is proceeding cautiously. ""', 'We want to be careful and fortunately with the economy growing, the labour market strong and inflation coming down, we can"" be, Fed chairman Jerome Powell said at a press conference after the Fed\'s meeting.', ""The Fed's move comes a day before the Bank of England will announce its own interest rate decision."", 'It is also expected to hold UK interest rates where they are, at 5.25%, a 15-year high.', 'Higher interest rates in theory work to cool inflation by make borrowing more expensive, slowing the economy and easing the pressures pushing up prices.', 'But if left in place for too long, they risk triggering a harsh economic slowdown.', 'The moves in the US are being closely watched, as countries around the world face similar trade-offs.', ""For now, the world's largest economy has held up surprisingly well, despite the higher interest rates."", 'Forecasts released after the meeting showed that officials expect the economy to grow 2.1% this year, a significantly more rosy outlook than the 1.4% they projected in December.', 'The forecasts also showed officials expect inflation to fall to 2.4% by the end of the year, approaching the 2% rate the bank wants to see.', 'Mr Powell said officials were not overly concerned by some recent data, which has suggested that progress might be stalling.', 'The inflation rate was 3.2% in the US last month and 3.1% in January. ""', 'We\'re not going to overreact to these two months of data, nor are we going to ignore them,"" he said.', 'The forecasts showed higher rates next year than officials had previously forecast.', ""But overall the outlook suggested that the bank's confidence that it can rein in inflation without knocking the economy off course is growing."", 'Charles Mangin, head of foreign exchange at UK-based Crown Agents Bank, which specialises in emerging markets, said the growth in the US was ""quite impressive"".', 'But he warned that if strong growth leads the US to keep interest rates higher for longer than expected, it could lead to economic pain in other countries.', 'Emerging markets have seen foreign investment slow sharply, as investors shift money to more established economies like the US in response to higher rates.', 'Central banks in countries such as Egypt and Nigeria have already raised their own interest rates aggressively to try to compete, a path others may have to follow if they hope to bring investors back, he said.', 'But those moves - which sent rates to more than 20% in Egypt and Nigeria- will not come without local costs, he warned. ""', 'The premium [to which] these guys will have to push their rates ... will put stress on the economies,"" he said. ""', 'If now we\'re in the scenario where the US are going to keep rates higher for longer, it\'s going to be a challenge for quite a few of the emerging markets countries.""']",0.16915033679491762,But overall the outlook suggested that the bank's confidence that it can rein in inflation without knocking the economy off course is growing.,"But if left in place for too long, they risk triggering a harsh economic slowdown." Row erupts over German football team switching supplier from Adidas to Nike,https://www.bbc.co.uk/news/business-68634777,2024-03-22T13:28:48.000Z,"The German Football Association's (DFB) decision to switch the supplier of the national team's kit away from Adidas has been blasted by politicians. The contract will pass from the German company to US firm Nike from 2027. Economy Minister Robert Habeck said he would have ""liked a bit more local patriotism"", while Health Minister Karl Lauterbach called the decision ""wrong"". The DFB said the deal made financial sense and would support grassroots German football. Adidas has supplied the kit for the German national football team for more than 70 years. However, according to reports in the German press, Nike agreed to pay about €100m (£86m; $108m) per year to supply the kit, doubling Adidas's payment of €50m. The deal, announced on Thursday, was greeted with dismay by German politicians on the left and right. ""I can hardly imagine the German jersey without the three stripes,"" Mr Habeck said. ""For me, Adidas and black-red-gold always belonged together. A piece of German identity."" Mr Lauterbach said on X, formerly Twitter, it was ""a wrong decision where commerce destroys a tradition and a piece of home"". And Bavarian premier Markus Soeder said the national team always plays in the three stripes of Adidas. ""That was as clear as the fact that the ball is round and a game lasts 90 minutes,"" he said. ""The success story began in 1954 with the unforgettable World Cup victory, which gave our country self-confidence again. That's why it's wrong, a shame and also incomprehensible that this story should end now."" He said German football should not be ""a pawn in international corporate battles"" and that ""commerce isn't everything"". The DFB said on X that it understood the emotional reaction to its decision, saying switching supplier after 70 years was a ""drastic event"" that ""doesn't leave us cold"". However, it said the grassroots of German football, with ""more than 24,000 football clubs, 2.2 million active players, the numerous volunteers and almost 55,000 referees"", is financed by the DFB. ""Against this background, the DFB has to make economic decisions,"" it said. ""Nike made by far the best financial offer in the transparent and non-discriminatory tender process."" ""The future partnership with Nike ensures that we can continue to carry out our central tasks for football in the coming decade,"" it added. The announcement of the Nike deal comes just months ahead of Euro 2024. Germany's men's team is using Adidas's headquarters in Herzogenaurach, near Nuremberg, as its base for the tournament, which Germany is hosting. Adidas said it would not comment on contractual details. The row over the German kit comes as politicians in England criticise a Nike design for the England team kit. Prime Minister Rishi Sunak said the St George's Cross should not be ""messed with"" after Nike used different colours, adding navy, light blue and purple to the traditional red. The FA has defended the design, saying ""it is not the first time"" different colours have been used. ",BBC,22/03/2024,"[""The German Football Association's (DFB) decision to switch the supplier of the national team's kit away from Adidas has been blasted by politicians."", 'The contract will pass from the German company to US firm Nike from 2027.', 'Economy Minister Robert Habeck said he would have ""liked a bit more local patriotism"", while Health Minister Karl Lauterbach called the decision ""wrong"".', 'The DFB said the deal made financial sense and would support grassroots German football.', 'Adidas has supplied the kit for the German national football team for more than 70 years.', 'However, according to reports in the German press, Nike agreed to pay about €100m (£86m; $108m) per year to supply the kit, doubling Adidas\'s payment of €50m. The deal, announced on Thursday, was greeted with dismay by German politicians on the left and right. ""', 'I can hardly imagine the German jersey without the three stripes,"" Mr Habeck said. ""', 'For me, Adidas and black-red-gold always belonged together.', 'A piece of German identity.""', 'Mr Lauterbach said on X, formerly Twitter, it was ""a wrong decision where commerce destroys a tradition and a piece of home"".', 'And Bavarian premier Markus Soeder said the national team always plays in the three stripes of Adidas. ""', 'That was as clear as the fact that the ball is round and a game lasts 90 minutes,"" he said. ""', 'The success story began in 1954 with the unforgettable World Cup victory, which gave our country self-confidence again.', 'That\'s why it\'s wrong, a shame and also incomprehensible that this story should end now.""', 'He said German football should not be ""a pawn in international corporate battles"" and that ""commerce isn\'t everything"".', 'The DFB said on X that it understood the emotional reaction to its decision, saying switching supplier after 70 years was a ""drastic event"" that ""doesn\'t leave us cold"".', 'However, it said the grassroots of German football, with ""more than 24,000 football clubs, 2.2 million active players, the numerous volunteers and almost 55,000 referees"", is financed by the DFB. ""', 'Against this background, the DFB has to make economic decisions,"" it said. ""', 'Nike made by far the best financial offer in the transparent and non-discriminatory tender process."" ""', 'The future partnership with Nike ensures that we can continue to carry out our central tasks for football in the coming decade,"" it added.', 'The announcement of the Nike deal comes just months ahead of Euro 2024.', ""Germany's men's team is using Adidas's headquarters in Herzogenaurach, near Nuremberg, as its base for the tournament, which Germany is hosting."", 'Adidas said it would not comment on contractual details.', 'The row over the German kit comes as politicians in England criticise a Nike design for the England team kit.', 'Prime Minister Rishi Sunak said the St George\'s Cross should not be ""messed with"" after Nike used different colours, adding navy, light blue and purple to the traditional red.', 'The FA has defended the design, saying ""it is not the first time"" different colours have been used.']",0.016774752943893613,"The success story began in 1954 with the unforgettable World Cup victory, which gave our country self-confidence again.","Mr Lauterbach said on X, formerly Twitter, it was ""a wrong decision where commerce destroys a tradition and a piece of home""." Reddit has been around since the early days of social media. Here’s why it’s finally going public now,https://edition.cnn.com/2024/03/20/tech/reddit-ipo-nyse-debut/index.html," Updated 10:51 PM EDT, Wed March 20, 2024 ","Reddit, one of the original social media companies, is finally making its debut on the New York Stock Exchange — more than a decade after many of its peers. It’s a major milestone for the nearly 20-year-old company, something Reddit has been preparing for since at least 2021, when it hired its first chief financial officer. It also marks the first social media company to go public in years, and its performance could be a signpost for other companies considering IPOs. Funds raised from a successful IPO could help Reddit invest in key areas for growth, including building out new revenue streams as it seeks to stake a claim as a data provider for the burgeoning artificial intelligence language model industry. A successful public offering could also establish a sustainable ownership structure for a company with a history of ownership changes and leadership controversies. But its success is far from guaranteed. Reddit has never turned a profit, and by its own admission, “we may not be able to achieve or maintain profitability in the future.” The company is also giving loyal users a chance to buy IPO shares, a move that’s “great for PR but practically risky,” according to Kamran Ansari, Venture Partner at investment firm Headline, because those users could cause volatility in the share price right out of the gate if they quickly sell the stock. It’s also been a rough few years for the IPO market — and successful IPOs typically beget other successful listings. While 2021 was a record-breaking year for companies looking to make their public debuts on the US stock market, dealmaking on Wall Street has largely dried up since, as executives have contended with recession fears, elevated interest rates and rising geopolitical tensions. While IPO activity is now trending higher — there have been 23 IPOs priced so far this year, a 15% change over last year — companies that have gone public have underperformed the S&P 500 by about two percentage points, according to data from the Renaissance IPO Index. Reddit priced its shares at $34 each, the top of it’s range, according to multiple published reports. That would value the company at around $6 billion, less than the $10 billion valuation the company targeted on the private market in 2021 — which may be a reminder that in the age of continued high interest rates, money now comes at a higher cost. “Reddit’s IPO marks the return of the junk IPO,” David Trainer, CEO of New Constructs, said in an email. “We think the company may never monetize its platform without angering its users and the entire premise of Reddit is user-generated content.” Still, there may be no time like the present for Reddit to go public. The social media industry is bracing for a potential shakeup if a bill that could see TikTok banned in the United States — which has already passed the House — progresses further. Some on Wall Street also believe Reddit has more room to grow, after increasing its user base by some 40% between 2021 and 2023. “There’s really substantial growth potential when it comes to certain places outside the US, particularly ones where English is a primary language. India has been highlighted, for example, as a very substantial opportunity,” said Scott Kessler, global technology sector lead at research firm Third Bridge. He added that Reddit is available in fewer than 10 languages, meaning the company could also find new growth by making the platform accessible to more users around the world. “The big challenge, of course, is not just user growth, but the related monetization,” Kessler said. Among Reddit’s plans to better monetize those users is licensing their data to help train AI models. The company recently announced an AI licensing deal with Google that’s said to be worth $60 million per year. And while the so-called “front page of the internet” certainly seems to have potential as a data source, some users appear frustrated with the idea of their content being sold off to train AI tools. And regulators have questions, too. Reddit disclosed last week that the US Federal Trade Commission is looking into its plans to license data to AI firms, although the company said it does not believe it has violated US consumer protection law. –CNN’s Nicole Goodkind contributed to this report.",CNN,20/03/2024,"['Reddit, one of the original social media companies, is finally making its debut on the New York Stock Exchange — more than a decade after many of its peers.', 'It’s a major milestone for the nearly 20-year-old company, something Reddit has been preparing for since at least 2021, when it hired its first chief financial officer.', 'It also marks the first social media company to go public in years, and its performance could be a signpost for other companies considering IPOs.', 'Funds raised from a successful IPO could help Reddit invest in key areas for growth, including building out new revenue streams as it seeks to stake a claim as a data provider for the burgeoning artificial intelligence language model industry.', 'A successful public offering could also establish a sustainable ownership structure for a company with a history of ownership changes and leadership controversies.', 'But its success is far from guaranteed.', 'Reddit has never turned a profit, and by its own admission, “we may not be able to achieve or maintain profitability in the future.”', 'The company is also giving loyal users a chance to buy IPO shares, a move that’s “great for PR but practically risky,” according to Kamran Ansari, Venture Partner at investment firm Headline, because those users could cause volatility in the share price right out of the gate if they quickly sell the stock.', 'It’s also been a rough few years for the IPO market — and successful IPOs typically beget other successful listings.', 'While 2021 was a record-breaking year for companies looking to make their public debuts on the US stock market, dealmaking on Wall Street has largely dried up since, as executives have contended with recession fears, elevated interest rates and rising geopolitical tensions.', 'While IPO activity is now trending higher — there have been 23 IPOs priced so far this year, a 15% change over last year — companies that have gone public have underperformed the S&P 500 by about two percentage points, according to data from the Renaissance IPO Index.', 'Reddit priced its shares at $34 each, the top of it’s range, according to multiple published reports.', 'That would value the company at around $6 billion, less than the $10 billion valuation the company targeted on the private market in 2021 — which may be a reminder that in the age of continued high interest rates, money now comes at a higher cost.', '“Reddit’s IPO marks the return of the junk IPO,” David Trainer, CEO of New Constructs, said in an email.', '“We think the company may never monetize its platform without angering its users and the entire premise of Reddit is user-generated content.”', 'Still, there may be no time like the present for Reddit to go public.', 'The social media industry is bracing for a potential shakeup if a bill that could see TikTok banned in the United States — which has already passed the House — progresses further.', 'Some on Wall Street also believe Reddit has more room to grow, after increasing its user base by some 40% between 2021 and 2023.', '“There’s really substantial growth potential when it comes to certain places outside the US, particularly ones where English is a primary language.', 'India has been highlighted, for example, as a very substantial opportunity,” said Scott Kessler, global technology sector lead at research firm Third Bridge.', 'He added that Reddit is available in fewer than 10 languages, meaning the company could also find new growth by making the platform accessible to more users around the world.', '“The big challenge, of course, is not just user growth, but the related monetization,” Kessler said.', 'Among Reddit’s plans to better monetize those users is licensing their data to help train AI models.', 'The company recently announced an AI licensing deal with Google that’s said to be worth $60 million per year.', 'And while the so-called “front page of the internet” certainly seems to have potential as a data source, some users appear frustrated with the idea of their content being sold off to train AI tools.', 'And regulators have questions, too.', 'Reddit disclosed last week that the US Federal Trade Commission is looking into its plans to license data to AI firms, although the company said it does not believe it has violated US consumer protection law.', '–CNN’s Nicole Goodkind contributed to this report.']",0.23409606051417642,"Funds raised from a successful IPO could help Reddit invest in key areas for growth, including building out new revenue streams as it seeks to stake a claim as a data provider for the burgeoning artificial intelligence language model industry.","While 2021 was a record-breaking year for companies looking to make their public debuts on the US stock market, dealmaking on Wall Street has largely dried up since, as executives have contended with recession fears, elevated interest rates and rising geopolitical tensions." Are Hong Kong's days as a global business hub over?,https://www.bbc.co.uk/news/world-asia-china-68636561,2024-03-25T00:22:34.000Z,"There is a new running joke in Hong Kong: locals mock their city for losing its status as the darling of global capital. As one joked, it is the newest Unesco world heritage site. A tough security law - Article 23 - that came into effect over the weekend has only renewed the underlying concerns. Authorities say it will protect the city and ensure stability, while critics are alarmed it will silence all dissent with its closed-door trials and life sentences for broadly-defined offences - from insurrection to treason. It comes at a time when Beijing's iron grip and US-China tensions were already driving away foreign investors who now have an ""anywhere but China"" policy, says Mr Chan, a real estate surveyor, who did not wish to disclose his full name. ""Hong Kong was seen as distinct from China so investors could still invest here - not anymore now,"" he says. The emphasis on national security and the danger posed by ""foreign forces"" - a running theme in the legislation and in Beijing's recent policies - raises the stakes for foreign capital and businesses operating in the city. ""The business has been awful in the past two years and there was no major deal at all,"" says Mr Tse, who works for a Chinese state-owned bank. He said his company fired 10% of their staff in June and another 5% just this past week. ""No one knows when it will be their turn."" While it is too early to evaluate the risks of Article 23 to businesses, it could lead to higher compliance costs because of its ""broad wording"" and the ""severe consequences of a breach"", says Johannes Hack, the president of the German Chamber of Commerce. The Hong Kong government told the BBC in a statement that Article 23 will make the city ""advance from stability to prosperity"", and will not affect ""normal"" businesses. It also said it is ""outrageous"" to single out Hong Kong when other countries have security laws too. Hong Kong's Article 23, which expands on national security legislation imposed by China in 2020, comes at a time when the city's administration is trying to reassure the world that it's still a financial dynamo. The Hong Kong General Chamber of Commerce argued it ""will make Hong Kong a safer destination for local and foreign businesses and professionals operating"" in the city, while Hong Kong's chief executive John Lee had dismissed as ""ridiculous"" the notion that the administration only cared about national security, calling such concerns a form of ""soft resistance"". Hong Kong's economy has been reeling from Beijing's crackdown since the pro-democracy protests in 2019 and a harsh zero-Covid policy. Rentals for commercial and retail spaces have fallen, leaving office buildings and shopfronts vacant. There are fewer tourists - last year's arrivals were only 60% of the pre-pandemic figure. The value of the Hang Seng index - Hong Kong's crown jewel - has fallen by more than 40% since 2019. India overtook the city in January to become the world's fourth-largest stock market. Singapore has emerged as a stiff regional rival for finance. Global banks have been laying off people focused on Hong Kong and China, pointing to sluggish growth and plummeting investor confidence. An exodus of capital and people has followed, with the former head of Morgan Stanley Asia declaring recently in a newspaper column that ""Hong Kong is over"". Veteran investor Lam Yat-ming wrote in an economic magazine that investors should ""cherish their lives and distance themselves from Hong Kong stocks"". ""Outside perception of Hong Kong"" has changed, Mr Hack says. ""While the city is still distinctly different from the mainland, the focus on security may increasingly blur the distinction in people's minds."" The former British colony has been run under the principle of ""one country, two systems"" since its return to China in 1997. Beijing promised that Hong Kong would enjoy civil liberties for half a century. But critics say it has reneged on the deal, crushing pro-democracy protests and imposing a national security law (NSL) in 2020 under which more than 260 people, including former lawmakers, have been arrested. Authorities defend it, saying it marked the transition from ""chaos to governance"". A local security law, outlined in the city's mini constitution, was always on the cards. The first attempt in 2003 failed after half a million people took to the streets against it. This time, Article 23 was passed less than two weeks after it was tabled. Under Xi Jinping, China attaches ""absolute importance"" to national security - and Hong Kong's status as a free society and an international gateway comes second, says Kenneth Chan, a political scientist at Hong Kong Baptist University. He says the arrest of Jimmy Lai, the former media mogul who has been charged under the NSL, was an ""awakening for the international community"". ""The national security law has no limits. Personal safety, private property rights, and individual assets are not guaranteed,"" Dr Chan adds. After police raided Mr Lai's Apple Daily newspaper in 2021, trading in his company was suspended and it was delisted the following year. The 76-year-old tycoon, who is now on trial, has been behind bars for three years and his assets worth HK$500 million ($64m; £50m) have been frozen. Hong Kong's common law system, which underpins its rule of law, has come under scrutiny following the trials of pro-democracy protesters. But the city's judiciary is perceived as independent, at least over commercial matters, although critics worry that Mr Lee can now pick judges handling national security cases. Under such security laws, businesses in Hong Kong have to adopt additional measures to mitigate political risk - just like in the mainland, Dr Chan says. ""No-one can grasp the political direction, so big companies have started recruiting political consultants to evaluate risks and build political connections. These are all new costs, leading to lower efficiency."" The city should not be discounted as an international financial hub, says Kevin Tsui, chief economist at the research firm Orientis. He adds that Hong Kong should make use of its advantages - a simple, low-rate tax system, and the fact that it's the only Chinese city with no foreign exchange controls. The Hong Kong dollar is also pegged to the US dollar, providing financial stability. ""Even if Hong Kong is just a Chinese city, foreigners want to do business with China,"" he says. And yet confidence in the city has been shaken, not least because it is also feeling the heat of a slowing Chinese economy, which has been hit by debt and a property market crisis. The mainland is the city's biggest trading partner and second-largest source of investment. Half of the 2,600 companies listed on Hong Kong's stock market are from mainland China. But a new rule Beijing introduced last year requires Chinese companies to have official approval to list overseas. This has made the process far more cumbersome, said a banker who spoke on the condition of anonymity. ""We can only wait because we have no idea about the progress. If the companies are involved in sensitive industries such as data security or genetic technology, the process will be extremely slow,"" he said. Hong Kong, which ranked as the world's number one IPO venue in seven of the last 15 years, is now in the eighth spot, according to industry reports. ""Beijing wants private companies to raise funds internationally to salvage the economy, but at the same time it worries these companies will no longer be under [their] control after listing,"" says the banker who wanted to remain anonymous. ""They want to control everything, but it will kill the financial market eventually."" Additional reporting by Grace Tsoi in Hong Kong ",BBC,25/03/2024,"['There is a new running joke in Hong Kong: locals mock their city for losing its status as the darling of global capital.', 'As one joked, it is the newest Unesco world heritage site.', 'A tough security law - Article 23 - that came into effect over the weekend has only renewed the underlying concerns.', 'Authorities say it will protect the city and ensure stability, while critics are alarmed it will silence all dissent with its closed-door trials and life sentences for broadly-defined offences - from insurrection to treason.', 'It comes at a time when Beijing\'s iron grip and US-China tensions were already driving away foreign investors who now have an ""anywhere but China"" policy, says Mr Chan, a real estate surveyor, who did not wish to disclose his full name. ""', 'Hong Kong was seen as distinct from China so investors could still invest here - not anymore now,"" he says.', 'The emphasis on national security and the danger posed by ""foreign forces"" - a running theme in the legislation and in Beijing\'s recent policies - raises the stakes for foreign capital and businesses operating in the city. ""', 'The business has been awful in the past two years and there was no major deal at all,"" says Mr Tse, who works for a Chinese state-owned bank.', 'He said his company fired 10% of their staff in June and another 5% just this past week. ""', 'No one knows when it will be their turn.""', 'While it is too early to evaluate the risks of Article 23 to businesses, it could lead to higher compliance costs because of its ""broad wording"" and the ""severe consequences of a breach"", says Johannes Hack, the president of the German Chamber of Commerce.', 'The Hong Kong government told the BBC in a statement that Article 23 will make the city ""advance from stability to prosperity"", and will not affect ""normal"" businesses.', 'It also said it is ""outrageous"" to single out Hong Kong when other countries have security laws too.', ""Hong Kong's Article 23, which expands on national security legislation imposed by China in 2020, comes at a time when the city's administration is trying to reassure the world that it's still a financial dynamo."", 'The Hong Kong General Chamber of Commerce argued it ""will make Hong Kong a safer destination for local and foreign businesses and professionals operating"" in the city, while Hong Kong\'s chief executive John Lee had dismissed as ""ridiculous"" the notion that the administration only cared about national security, calling such concerns a form of ""soft resistance"".', ""Hong Kong's economy has been reeling from Beijing's crackdown since the pro-democracy protests in 2019 and a harsh zero-Covid policy."", 'Rentals for commercial and retail spaces have fallen, leaving office buildings and shopfronts vacant.', ""There are fewer tourists - last year's arrivals were only 60% of the pre-pandemic figure."", ""The value of the Hang Seng index - Hong Kong's crown jewel - has fallen by more than 40% since 2019."", ""India overtook the city in January to become the world's fourth-largest stock market."", 'Singapore has emerged as a stiff regional rival for finance.', 'Global banks have been laying off people focused on Hong Kong and China, pointing to sluggish growth and plummeting investor confidence.', 'An exodus of capital and people has followed, with the former head of Morgan Stanley Asia declaring recently in a newspaper column that ""Hong Kong is over"".', 'Veteran investor Lam Yat-ming wrote in an economic magazine that investors should ""cherish their lives and distance themselves from Hong Kong stocks"". ""', 'Outside perception of Hong Kong"" has changed, Mr Hack says. ""', 'While the city is still distinctly different from the mainland, the focus on security may increasingly blur the distinction in people\'s minds.""', 'The former British colony has been run under the principle of ""one country, two systems"" since its return to China in 1997.', 'Beijing promised that Hong Kong would enjoy civil liberties for half a century.', 'But critics say it has reneged on the deal, crushing pro-democracy protests and imposing a national security law (NSL) in 2020 under which more than 260 people, including former lawmakers, have been arrested.', 'Authorities defend it, saying it marked the transition from ""chaos to governance"".', ""A local security law, outlined in the city's mini constitution, was always on the cards."", 'The first attempt in 2003 failed after half a million people took to the streets against it.', 'This time, Article 23 was passed less than two weeks after it was tabled.', 'Under Xi Jinping, China attaches ""absolute importance"" to national security - and Hong Kong\'s status as a free society and an international gateway comes second, says Kenneth Chan, a political scientist at Hong Kong Baptist University.', 'He says the arrest of Jimmy Lai, the former media mogul who has been charged under the NSL, was an ""awakening for the international community"". ""', 'The national security law has no limits.', 'Personal safety, private property rights, and individual assets are not guaranteed,"" Dr Chan adds.', ""After police raided Mr Lai's Apple Daily newspaper in 2021, trading in his company was suspended and it was delisted the following year."", 'The 76-year-old tycoon, who is now on trial, has been behind bars for three years and his assets worth HK$500 million ($64m; £50m) have been frozen.', ""Hong Kong's common law system, which underpins its rule of law, has come under scrutiny following the trials of pro-democracy protesters."", ""But the city's judiciary is perceived as independent, at least over commercial matters, although critics worry that Mr Lee can now pick judges handling national security cases."", 'Under such security laws, businesses in Hong Kong have to adopt additional measures to mitigate political risk - just like in the mainland, Dr Chan says. ""', 'No-one can grasp the political direction, so big companies have started recruiting political consultants to evaluate risks and build political connections.', 'These are all new costs, leading to lower efficiency.""', 'The city should not be discounted as an international financial hub, says Kevin Tsui, chief economist at the research firm Orientis.', ""He adds that Hong Kong should make use of its advantages - a simple, low-rate tax system, and the fact that it's the only Chinese city with no foreign exchange controls."", 'The Hong Kong dollar is also pegged to the US dollar, providing financial stability. ""', 'Even if Hong Kong is just a Chinese city, foreigners want to do business with China,"" he says.', 'And yet confidence in the city has been shaken, not least because it is also feeling the heat of a slowing Chinese economy, which has been hit by debt and a property market crisis.', ""The mainland is the city's biggest trading partner and second-largest source of investment."", ""Half of the 2,600 companies listed on Hong Kong's stock market are from mainland China."", 'But a new rule Beijing introduced last year requires Chinese companies to have official approval to list overseas.', 'This has made the process far more cumbersome, said a banker who spoke on the condition of anonymity. ""', 'We can only wait because we have no idea about the progress.', 'If the companies are involved in sensitive industries such as data security or genetic technology, the process will be extremely slow,"" he said.', 'Hong Kong, which ranked as the world\'s number one IPO venue in seven of the last 15 years, is now in the eighth spot, according to industry reports. ""', 'Beijing wants private companies to raise funds internationally to salvage the economy, but at the same time it worries these companies will no longer be under [their] control after listing,"" says the banker who wanted to remain anonymous. ""', 'They want to control everything, but it will kill the financial market eventually.""', 'Additional reporting by Grace Tsoi in Hong Kong']",-0.03758271996304131,Beijing promised that Hong Kong would enjoy civil liberties for half a century.,"But critics say it has reneged on the deal, crushing pro-democracy protests and imposing a national security law (NSL) in 2020 under which more than 260 people, including former lawmakers, have been arrested." Neuralink: Musk's firm says first brain-chip patient plays online chess,https://www.bbc.co.uk/news/business-68622781,2024-03-21T05:59:28.000Z,"Elon Musk's brain-chip company Neuralink has shown its first patient moving a cursor on a computer using an implanted device. In a nine-minute livestream on X, formerly Twitter, Noland Arbaugh uses the cursor to play chess online. Mr Arbaugh was paralysed below the shoulders after a diving accident and received the chip implant in January. The company's goal is to connect human brains to computers to help tackle complex neurological conditions. ""The surgery was super easy,"" Mr Arbaugh said during the presentation. Mr Arbaugh also said that he had used the brain implant to play the video game Civilization VI. Neuralink gave him ""the ability to do that again and played for eight hours straight"", he said. However, Mr Arbaugh said the new technology was not perfect and they ""have run into some issues"". Neuralink's device, which is about the size of a one pound coin, is inserted into the skull, with microscopic wires which can read neuron activity and beam back a wireless signal to a receiving unit. The company has also run trials in pigs and claimed that monkeys can play a basic version of the video game Pong. Neuralink was given permission to test the chip on humans by the Food and Drug Administration (FDA) in May 2023. Neuralink is one of a growing number of companies and university departments attempting to refine and ultimately commercialise this technology. For example, the École Polytechnique Fédérale in Lausanne in Switzerland has successfully enabled Gert-Jan Oskam, who is paralysed, to walk just by thinking about the movements involved. That was achieved by putting electronic implants on Mr Oskam's brain and spine, which wirelessly communicate thoughts to his legs and feet. Details of the breakthrough were published in the peer-reviewed journal Nature last year. The human brain is home to around 86 billion neurons, nerve cells connected to one another by synapses. Every time we want to move, feel or think, a tiny electrical impulse is generated and sent incredibly quickly from one neuron to another. Scientists have developed devices which can detect some of those signals - either using a non-invasive cap placed on the head or wires implanted into the brain itself. The technology - known as a brain-computer interface (BCI) - is where many millions of dollars of research funding appears to be heading at the moment. ",BBC,21/03/2024,"[""Elon Musk's brain-chip company Neuralink has shown its first patient moving a cursor on a computer using an implanted device."", 'In a nine-minute livestream on X, formerly Twitter, Noland Arbaugh uses the cursor to play chess online.', 'Mr Arbaugh was paralysed below the shoulders after a diving accident and received the chip implant in January.', 'The company\'s goal is to connect human brains to computers to help tackle complex neurological conditions. ""', 'The surgery was super easy,"" Mr Arbaugh said during the presentation.', 'Mr Arbaugh also said that he had used the brain implant to play the video game Civilization VI.', 'Neuralink gave him ""the ability to do that again and played for eight hours straight"", he said.', 'However, Mr Arbaugh said the new technology was not perfect and they ""have run into some issues"".', ""Neuralink's device, which is about the size of a one pound coin, is inserted into the skull, with microscopic wires which can read neuron activity and beam back a wireless signal to a receiving unit."", 'The company has also run trials in pigs and claimed that monkeys can play a basic version of the video game Pong.', 'Neuralink was given permission to test the chip on humans by the Food and Drug Administration (FDA) in May 2023.', 'Neuralink is one of a growing number of companies and university departments attempting to refine and ultimately commercialise this technology.', 'For example, the École Polytechnique Fédérale in Lausanne in Switzerland has successfully enabled Gert-Jan Oskam, who is paralysed, to walk just by thinking about the movements involved.', ""That was achieved by putting electronic implants on Mr Oskam's brain and spine, which wirelessly communicate thoughts to his legs and feet."", 'Details of the breakthrough were published in the peer-reviewed journal Nature last year.', 'The human brain is home to around 86 billion neurons, nerve cells connected to one another by synapses.', 'Every time we want to move, feel or think, a tiny electrical impulse is generated and sent incredibly quickly from one neuron to another.', 'Scientists have developed devices which can detect some of those signals - either using a non-invasive cap placed on the head or wires implanted into the brain itself.', 'The technology - known as a brain-computer interface (BCI) - is where many millions of dollars of research funding appears to be heading at the moment.']",0.1284337283056444,"The surgery was super easy,"" Mr Arbaugh said during the presentation.","However, Mr Arbaugh said the new technology was not perfect and they ""have run into some issues""." Sick people leaving workforce at record highs,https://www.bbc.co.uk/news/business-68639144,2024-03-23T02:54:36.000Z,"The number of people leaving the workforce due to long term sickness is at its highest since the 1990s, a report suggests. Adults economically inactive due to ill-health rose from 2.1m in July 2019 to a peak of 2.8m in October 2023, said the Resolution Foundation. It is the ""longest sustained rise"" since 1994-1998, when records began. The government said its recent Budget measures are estimated to boost the labour force by 300,000 workers. The Foundation's report comes after the Office for National Statistics (ONS) said more than a fifth of UK adults were not looking for work. People at either end of the age spectrum had the highest proportion of those out-of-work due to ongoing illness, the Foundation's report said. ""Younger and older people together account for nine-tenths of the rise in overall economic inactivity, which could have serious effects both on individual's living standards and career paths,"" said Louise Murphy, senior economist at the Foundation. The rise in long-term sickness leaves the UK as the only G7 economy not to have returned to its pre-pandemic employment rate, according to the Foundation. However, it did add that inactivity figures fell slightly to 2.7 million in December 2023. It said the upward trend in long-term sickness actually started before the pandemic in the summer of 2019, and has lasted for 54 months. The longest previous period of increasing economic inactivity due to ill-health was for 55 months, between 1994 and 1998, it added. As well as looking at ONS figures, the Foundation pointed to Department of Work and Pension (DWP) figures showing claims for disability benefits. It said the rise in claims for personal independence payment (Pip), the non-means tested benefit for those with health issues, were ""most striking"", with claims rising 68% from 2020 to 2024. In the 16-17 age range, new Pip claims had increased by 138%. The Foundation said it would lead to ""wider strains on the NHS and welfare spending if we fail to improve the nation's health and reduce economic inactivity"". It also examined the DWP's data on medical conditions recorded on Work Capability Assessments and highlighted the fact that many benefit claimants cited mental health problems and musculoskeletal problems. It said 69% claimed for mental health disorders, and 48% had problems with connective or musculoskeletal pain. A spokesperson for the DWP said: ""Our plan for the economy is working. Inflation [the rate at which prices rise] is down to 3.4%, employment is up, the number of people on payrolls is at a record high, and inactivity is falling. ""We've reduced the number of workless households by one million since 2010. Our £2.5 billion Back to Work plan will help break down barriers to work for over a million more people and our recent Budget measures are estimated to boost the labour force by an extra 300,000 workers."" In order to deal with long-term economic inactivity, Chancellor Jeremy Hunt said in November that reforms including stricter fit-to-work tests and jobseeker support would get 200,000 more people into work. Under those plans, the government also wants to scrap the controversial Work Capability Assessment. ""We will reform the work capability assessment to reflect greater flexibility and availability of home working after the pandemic,"" Mr Hunt said in November. ""And we will spend £1.3bn over the next five years to help nearly 700,000 people with health conditions find jobs."" The Foundation's latest report comes after it said in February that people in their early 20s are more likely to be not working due to ill health than those in their early 40s. Responding to the report, Shazia Ejaz at the Recruitment and Employment Federation (REC), which represents the recruitment industry, said long NHS waiting lists ""are a big factor for why not enough people are well enough to work"". She added: ""Better infrastructure around transport, childcare and social care will all help tackle the inactivity challenge the UK faces"". ",BBC,23/03/2024,"['The number of people leaving the workforce due to long term sickness is at its highest since the 1990s, a report suggests.', 'Adults economically inactive due to ill-health rose from 2.1m in July 2019 to a peak of 2.8m in October 2023, said the Resolution Foundation.', 'It is the ""longest sustained rise"" since 1994-1998, when records began.', 'The government said its recent Budget measures are estimated to boost the labour force by 300,000 workers.', ""The Foundation's report comes after the Office for National Statistics (ONS) said more than a fifth of UK adults were not looking for work."", 'People at either end of the age spectrum had the highest proportion of those out-of-work due to ongoing illness, the Foundation\'s report said. ""', 'Younger and older people together account for nine-tenths of the rise in overall economic inactivity, which could have serious effects both on individual\'s living standards and career paths,"" said Louise Murphy, senior economist at the Foundation.', 'The rise in long-term sickness leaves the UK as the only G7 economy not to have returned to its pre-pandemic employment rate, according to the Foundation.', 'However, it did add that inactivity figures fell slightly to 2.7 million in December 2023.', 'It said the upward trend in long-term sickness actually started before the pandemic in the summer of 2019, and has lasted for 54 months.', 'The longest previous period of increasing economic inactivity due to ill-health was for 55 months, between 1994 and 1998, it added.', 'As well as looking at ONS figures, the Foundation pointed to Department of Work and Pension (DWP) figures showing claims for disability benefits.', 'It said the rise in claims for personal independence payment (Pip), the non-means tested benefit for those with health issues, were ""most striking"", with claims rising 68% from 2020 to 2024.', 'In the 16-17 age range, new Pip claims had increased by 138%.', 'The Foundation said it would lead to ""wider strains on the NHS and welfare spending if we fail to improve the nation\'s health and reduce economic inactivity"".', ""It also examined the DWP's data on medical conditions recorded on Work Capability Assessments and highlighted the fact that many benefit claimants cited mental health problems and musculoskeletal problems."", 'It said 69% claimed for mental health disorders, and 48% had problems with connective or musculoskeletal pain.', 'A spokesperson for the DWP said: ""Our plan for the economy is working.', 'Inflation [the rate at which prices rise] is down to 3.4%, employment is up, the number of people on payrolls is at a record high, and inactivity is falling. ""', ""We've reduced the number of workless households by one million since 2010."", 'Our £2.5 billion Back to Work plan will help break down barriers to work for over a million more people and our recent Budget measures are estimated to boost the labour force by an extra 300,000 workers.""', 'In order to deal with long-term economic inactivity, Chancellor Jeremy Hunt said in November that reforms including stricter fit-to-work tests and jobseeker support would get 200,000 more people into work.', 'Under those plans, the government also wants to scrap the controversial Work Capability Assessment. ""', 'We will reform the work capability assessment to reflect greater flexibility and availability of home working after the pandemic,"" Mr Hunt said in November. ""', 'And we will spend £1.3bn over the next five years to help nearly 700,000 people with health conditions find jobs.""', ""The Foundation's latest report comes after it said in February that people in their early 20s are more likely to be not working due to ill health than those in their early 40s."", 'Responding to the report, Shazia Ejaz at the Recruitment and Employment Federation (REC), which represents the recruitment industry, said long NHS waiting lists ""are a big factor for why not enough people are well enough to work"".', 'She added: ""Better infrastructure around transport, childcare and social care will all help tackle the inactivity challenge the UK faces"".']",0.06331491362849094,"She added: ""Better infrastructure around transport, childcare and social care will all help tackle the inactivity challenge the UK faces"".","It said 69% claimed for mental health disorders, and 48% had problems with connective or musculoskeletal pain." How Temu is shaking up the world of online shopping,https://www.bbc.co.uk/news/business-68563339,2024-03-19T00:09:28.000Z,"A record 123 million Americans tuned into this year's Super Bowl. But as well as getting the nation's biggest sporting event, a blockbuster halftime performance and several camera cutaways of Taylor Swift in the crowd, they also got six 30-second commercials for Temu - a Chinese-owned e-commerce company. The shopping giant has been criticised by politicians in the UK and US - a US government investigation finding an ""extremely high risk"" that products sold on Temu could have been made with forced labour. Temu says it ""strictly prohibits"" the use of forced, penal, or child labour by all its merchants. The company, which sells everything from clothes to electronics and furniture, first launched in the US in 2022 and later in the UK and the rest of the world. Since then, it has consistently topped global app download charts, with just under 152 million Americans using it every month, according to data gathered by analyst SimilarWeb. It's ""Amazon on steroids,"" says retail analyst Neil Saunders, and with the tagline ""shop like a billionaire"" it has exploded in popularity, shipping to around 50 countries worldwide. A typical 30-second Super Bowl commercial costs around $7m (£5.5m), during this year's event Temu had six of them. ""It's a lot of money for a very, short commercial,"" Mr Saunders says. ""But it is seen by an enormous number of people and we know that after that commercial Temu's downloads spiked,"" he adds. SimilarWeb data suggests individual visitors to the platform worldwide were up by nearly a quarter on the day of the Super Bowl compared with the previous Sunday, with 8.2 million people browsing the website and app. In the same period, Amazon and Ebay's visitors were down by 5% and 2% respectively. ""They've also spent a lot of money on micro-marketing, persuading influencers to push products and to suggest buying things on the platform via social channels like TikTok and YouTube,"" says Mr Saunders. These influencers typically have fewer than 10,000 followers according to Ines Durand, an e-commerce expert at SimilarWeb. ""Micro-influencers have strong communities, so their endorsement means a strong trust towards these products,"" she explains. Temu is owned by Chinese giant PDD Holdings - ""a monster in Chinese e-commerce,"" according to Shaun Rein, founder of the China Market Research Group. ""Throughout China, everyone buys products on Pinduoduo, from speakers to t-shirts or socks,"" he says. More technology of business The company consistently trades places with rival Alibaba for the top spot of most valuable Chinese firm listed on a US stock exchange. Its current worth sits at just under $150bn (£117bn). With the Chinese consumer market under its spell, PDD Holdings expanded overseas with Temu, using the same model that had ensured its previous success. According to Mr Rein, who is based in Shanghai, the firm has become a great source of pride and patriotism. ""They're proud that Chinese companies can slay the e-commerce dragons from the United States like Amazon,"" he adds. A quick scroll through the Temu app or website will bring up anything from steel-toecap trainers to a device designed to help the elderly and pregnant women put on socks. A menagerie of manufactured goods, almost entirely produced in factories in China, Mr Rein explains. ""Temu use an amazing, system that relies on, heavy data collection at scale,"" says Ines Durand. ""They collect data on consumer trends, the most searched and clicked products, which they give to individual manufacturers."" Ms Durand says that while Amazon sells this data to manufacturers at a premium, Temu gives it to producers free of charge - information they use to ""test the market"" with a relatively small number of products. A third of parcels that came into the US last year under a shipping loophole known as the de minimis threshold were from Temu and competitor Shein, according to a report from US Congress. Many countries - including the UK and USA have a de minimis threshold, designed to help citizens to import goods. So as Temu's goods are shipped directly from the factory floors, cutting out the middlemen, they become essentially duty-free. More regulation may be on the horizon to close up shipping loopholes, however, according to Mickey Diaz, chief operating officer at global freight company Unique Logistics. ""The UK has already started to look at Temu with some scrutiny, including the sale of weapons that are otherwise not allowed into the UK, which were being imported because of these loopholes,"" she explains. Temu has been criticised for its supply chains too, with UK and US politicians accusing the e-commerce giant of allowing goods produced with forced labour to be sold on its site. Last year, Alicia Kearns MP, head of the foreign affairs select committee, told the BBC she wanted greater scrutiny of the online marketplace to make sure ""consumers are not inadvertently contributing to the Uyghur genocide"". Temu says it ""strictly prohibits"" the use of forced, penal, or child labour by all its merchants. It told the BBC anyone doing business with it must ""comply with all regulatory standards and compliance requirements"". ""Temu's merchants, suppliers, and other third parties must pay their employees and contractors on time and comply with all applicable local wage and hours laws. ""Our current standards and practices are no different from other major e-commerce platforms trusted by consumers, and allegations in this regard are completely ungrounded,"" a spokesperson added. Despite the controversy, analysts expect further expansion for Temu. ""We'll probably see teams start to round out its offer more, perhaps pushing into some slightly higher priced products"" predicts retail analyst Neil Saunders. According to Shaun Reid, the focus will be on grabbing an even bigger slice of the market. ""For the next two to three years, their strategy is just to grow brand awareness and market share. They don't care about profits. ""That's exactly what happened with Pinduoduo when it launched in China. They were giving incredibly cheap deals just to grab market share."" ",BBC,19/03/2024,"[""A record 123 million Americans tuned into this year's Super Bowl."", ""But as well as getting the nation's biggest sporting event, a blockbuster halftime performance and several camera cutaways of Taylor Swift in the crowd, they also got six 30-second commercials for Temu - a Chinese-owned e-commerce company."", 'The shopping giant has been criticised by politicians in the UK and US - a US government investigation finding an ""extremely high risk"" that products sold on Temu could have been made with forced labour.', 'Temu says it ""strictly prohibits"" the use of forced, penal, or child labour by all its merchants.', 'The company, which sells everything from clothes to electronics and furniture, first launched in the US in 2022 and later in the UK and the rest of the world.', 'Since then, it has consistently topped global app download charts, with just under 152 million Americans using it every month, according to data gathered by analyst SimilarWeb.', 'It\'s ""Amazon on steroids,"" says retail analyst Neil Saunders, and with the tagline ""shop like a billionaire"" it has exploded in popularity, shipping to around 50 countries worldwide.', 'A typical 30-second Super Bowl commercial costs around $7m (£5.5m), during this year\'s event Temu had six of them. ""', 'It\'s a lot of money for a very, short commercial,"" Mr Saunders says. ""', 'But it is seen by an enormous number of people and we know that after that commercial Temu\'s downloads spiked,"" he adds.', 'SimilarWeb data suggests individual visitors to the platform worldwide were up by nearly a quarter on the day of the Super Bowl compared with the previous Sunday, with 8.2 million people browsing the website and app.', 'In the same period, Amazon and Ebay\'s visitors were down by 5% and 2% respectively. ""', 'They\'ve also spent a lot of money on micro-marketing, persuading influencers to push products and to suggest buying things on the platform via social channels like TikTok and YouTube,"" says Mr Saunders.', 'These influencers typically have fewer than 10,000 followers according to Ines Durand, an e-commerce expert at SimilarWeb. ""', 'Micro-influencers have strong communities, so their endorsement means a strong trust towards these products,"" she explains.', 'Temu is owned by Chinese giant PDD Holdings - ""a monster in Chinese e-commerce,"" according to Shaun Rein, founder of the China Market Research Group. ""', 'Throughout China, everyone buys products on Pinduoduo, from speakers to t-shirts or socks,"" he says.', 'More technology of business The company consistently trades places with rival Alibaba for the top spot of most valuable Chinese firm listed on a US stock exchange.', 'Its current worth sits at just under $150bn (£117bn).', 'With the Chinese consumer market under its spell, PDD Holdings expanded overseas with Temu, using the same model that had ensured its previous success.', 'According to Mr Rein, who is based in Shanghai, the firm has become a great source of pride and patriotism. ""', 'They\'re proud that Chinese companies can slay the e-commerce dragons from the United States like Amazon,"" he adds.', 'A quick scroll through the Temu app or website will bring up anything from steel-toecap trainers to a device designed to help the elderly and pregnant women put on socks.', 'A menagerie of manufactured goods, almost entirely produced in factories in China, Mr Rein explains. ""', 'Temu use an amazing, system that relies on, heavy data collection at scale,"" says Ines Durand. ""', 'They collect data on consumer trends, the most searched and clicked products, which they give to individual manufacturers.""', 'Ms Durand says that while Amazon sells this data to manufacturers at a premium, Temu gives it to producers free of charge - information they use to ""test the market"" with a relatively small number of products.', 'A third of parcels that came into the US last year under a shipping loophole known as the de minimis threshold were from Temu and competitor Shein, according to a report from US Congress.', 'Many countries - including the UK and USA have a de minimis threshold, designed to help citizens to import goods.', ""So as Temu's goods are shipped directly from the factory floors, cutting out the middlemen, they become essentially duty-free."", 'More regulation may be on the horizon to close up shipping loopholes, however, according to Mickey Diaz, chief operating officer at global freight company Unique Logistics. ""', 'The UK has already started to look at Temu with some scrutiny, including the sale of weapons that are otherwise not allowed into the UK, which were being imported because of these loopholes,"" she explains.', 'Temu has been criticised for its supply chains too, with UK and US politicians accusing the e-commerce giant of allowing goods produced with forced labour to be sold on its site.', 'Last year, Alicia Kearns MP, head of the foreign affairs select committee, told the BBC she wanted greater scrutiny of the online marketplace to make sure ""consumers are not inadvertently contributing to the Uyghur genocide"".', 'Temu says it ""strictly prohibits"" the use of forced, penal, or child labour by all its merchants.', 'It told the BBC anyone doing business with it must ""comply with all regulatory standards and compliance requirements"". ""', 'Temu\'s merchants, suppliers, and other third parties must pay their employees and contractors on time and comply with all applicable local wage and hours laws. ""', 'Our current standards and practices are no different from other major e-commerce platforms trusted by consumers, and allegations in this regard are completely ungrounded,"" a spokesperson added.', 'Despite the controversy, analysts expect further expansion for Temu. ""', 'We\'ll probably see teams start to round out its offer more, perhaps pushing into some slightly higher priced products"" predicts retail analyst Neil Saunders.', 'According to Shaun Reid, the focus will be on grabbing an even bigger slice of the market. ""', 'For the next two to three years, their strategy is just to grow brand awareness and market share.', 'They don\'t care about profits. ""', ""That's exactly what happened with Pinduoduo when it launched in China."", 'They were giving incredibly cheap deals just to grab market share.""']",0.2590481124794851,"Micro-influencers have strong communities, so their endorsement means a strong trust towards these products,"" she explains.","The shopping giant has been criticised by politicians in the UK and US - a US government investigation finding an ""extremely high risk"" that products sold on Temu could have been made with forced labour." Goldman Sachs analysts say there’s still potential for more stock gains,https://edition.cnn.com/2024/03/24/investing/401k-sp-500-markets-goldman-boost/index.html," Published 2:34 PM EDT, Sun March 24, 2024 ","It’s been a bumpy road for the stock market this year, but investors aren’t complaining. That’s because markets have rallied to new highs and have already soared past analysts’ 2024 estimates. The S&P 500 has surged more than 10% since January, and last week it surpassed Goldman Sachs’ year-end target of 5,200. So what comes next? The question is weighing heavily on the minds of investors, Goldman Sachs’ strategists wrote in a note Friday. The analysts, led by Goldman’s chief US equity strategist, David Kostin, presented a scenario in which mega-cap tech stocks could continue to grow and propel the S&P 500 an additional 15% higher to the 6,000 level by the end of the year. The current rally in growth stocks is different from what happened when markets crashed in 2021 or during the tech bubble, the analysts wrote. This time around, investors are paying closer attention to how much profit companies are actually bringing in, they said. And while enthusiasm for artificial intelligence is at a fever pitch, Goldman’s analysts said growth expectations and valuations for the largest technology, media and telecommunication stocks are “still far from bubble territory.” The investment bank also presented a more tempered scenario in which the S&P 500 climbs 11% to reach 5,800 by year-end. In this case, markets would just have to catch up to their pre-pandemic valuation levels. Either of these shifts higher, analysts wrote, are dependent on the Federal Reserve’s next policy move. Investors have been worried that the central bank will keep interest rates elevated for longer than previously expected in response to persistently high interest rates. “A shift in the interest rate outlook without a deterioration in the economy is necessary for the market rally to broaden,” the analysts said. “Today, a large swath of the market remains weighed down by concerns of ‘high-for-longer’ interest.” They also presented a worst-case scenario in which mega tech stocks could fail to live up to expectations, causing markets to fall by 14% this year. But for now, Goldman analysts will keep their baseline prediction of 5,200 for the S&P 500 unchanged. That means markets would drop by about 1% before the end of the year. “Both our expected path of the federal funds rate and our above-consensus economic growth forecast appear to already be priced by markets,” they wrote.",CNN,24/03/2024,"['It’s been a bumpy road for the stock market this year, but investors aren’t complaining.', 'That’s because markets have rallied to new highs and have already soared past analysts’ 2024 estimates.', 'The S&P 500 has surged more than 10% since January, and last week it surpassed Goldman Sachs’ year-end target of 5,200.', 'So what comes next?', 'The question is weighing heavily on the minds of investors, Goldman Sachs’ strategists wrote in a note Friday.', 'The analysts, led by Goldman’s chief US equity strategist, David Kostin, presented a scenario in which mega-cap tech stocks could continue to grow and propel the S&P 500 an additional 15% higher to the 6,000 level by the end of the year.', 'The current rally in growth stocks is different from what happened when markets crashed in 2021 or during the tech bubble, the analysts wrote.', 'This time around, investors are paying closer attention to how much profit companies are actually bringing in, they said.', 'And while enthusiasm for artificial intelligence is at a fever pitch, Goldman’s analysts said growth expectations and valuations for the largest technology, media and telecommunication stocks are “still far from bubble territory.”', 'The investment bank also presented a more tempered scenario in which the S&P 500 climbs 11% to reach 5,800 by year-end.', 'In this case, markets would just have to catch up to their pre-pandemic valuation levels.', 'Either of these shifts higher, analysts wrote, are dependent on the Federal Reserve’s next policy move.', 'Investors have been worried that the central bank will keep interest rates elevated for longer than previously expected in response to persistently high interest rates.', '“A shift in the interest rate outlook without a deterioration in the economy is necessary for the market rally to broaden,” the analysts said. “', 'Today, a large swath of the market remains weighed down by concerns of ‘high-for-longer’ interest.”', 'They also presented a worst-case scenario in which mega tech stocks could fail to live up to expectations, causing markets to fall by 14% this year.', 'But for now, Goldman analysts will keep their baseline prediction of 5,200 for the S&P 500 unchanged.', 'That means markets would drop by about 1% before the end of the year.', '“Both our expected path of the federal funds rate and our above-consensus economic growth forecast appear to already be priced by markets,” they wrote.']",0.11390825445711839,"And while enthusiasm for artificial intelligence is at a fever pitch, Goldman’s analysts said growth expectations and valuations for the largest technology, media and telecommunication stocks are “still far from bubble territory.”","They also presented a worst-case scenario in which mega tech stocks could fail to live up to expectations, causing markets to fall by 14% this year." "Triple lock for pensions to be in Tory manifesto, Jeremy Hunt says",https://www.bbc.co.uk/news/business-68649894,2024-03-24T10:09:26.000Z,"Jeremy Hunt has said the Conservatives will keep the triple lock system to decide rises in the state pension if they win the election. The chancellor confirmed the pledge, which means the pension rises in line with average earnings growth, inflation or 2.5% - whichever is highest. He told Sunday with Laura Kuenssberg he was confident the ""expensive"" promise would be paid by growing the economy. Labour said it was ""committed to retaining"" the triple lock. However, it is yet to confirm if the pledge will feature in its election manifesto. ""We will set out those plans for our manifesto in detail,"" Labour party chair Anneliese Dodds told the BBC programme. The state pension will rise by 8.5% in April. Mr Hunt confirmed the current triple lock system to decide how much the payments rise each year would ""absolutely"" remain if the Conservatives win the general election, which must be held by 28 January 2025, for the whole of the next parliament. ""When we came to office in 2010, pensioners were more likely to be in poverty than other income groups, now because of the triple lock that we introduced they are less likely to be in poverty,"" he told the BBC. ""I think that is a very important social change because unlike adults of working age, pensioners can't work, they have retired and so we need to respect that."" Mr Hunt said he realised continuing the policy would be an ""expensive commitment"", but added: ""You can only make that commitment if you're confident that you're going to deliver the economic growth that is going to pay for it."" Liberal Democrat Treasury spokesperson Sarah Olney said the pledge was a ""shameless election trick by the Conservatives"" and claimed Mr Hunt was ""yet again taking pensioners for granted"". Yael Selfin, chief economist at accountancy firm KPMG, said: ""It is easier to make this promise now that inflation is going down."" Inflation rose by 3.4% in the year to February, which is the lowest rate since September 2021 and Ms Selfin predicted that it would fall below the Bank of England's 2% target sooner than expected this year. Ms Selfin said: ""The extra spending on pensions will not necessarily create a lot of growth on its own. [The chancellor] would need to find other ways to stimulate growth."" Labour leader Sir Keir Starmer declined to say if the triple lock would be in his party's manifesto when asked by The Sun newspaper last week. ""We will have to see what the state of the economy is as we go into the election. We will publish all of our plans as we go in and answer that question, but I believe in the triple lock."" The state pension is a payment made every four weeks by the government to people who have reached the qualifying age and have paid enough National Insurance contributions. More than 12 million people in the UK receive it. Currently, the pension is worth £203.85 a week for the full, new flat-rate (for those who reached state pension age after April 2016), and £156.20 a week for the full, old basic state pension (for those who reached state pension age before April 2016). In April, the two payments will rise to £221.20 and £169.50 per week respectively, taking the annual totals to £11,502 and £8,814. Next month's increase is set to be the second significant rise in the state pension in two years, after a 10.1% increase in April 2023. The triple lock is designed to ensure pensioners, especially if they rely solely on the state pension, are able to afford rising prices, or keep pace with the increases in the working population's wages. It was introduced by the Conservative-Liberal Democrat coalition government in 2010, but there has been debate over whether it can continue in the long-term future due to its costs. The state pension cost £110.5bn in 2022-2023, just under half the total amount the government spends on benefits, and the government's official forecaster, the Office for Budget Responsibility, estimated the level would grow to £124bn in 2023-2024. Paul Johnson, director of the Institute for Fiscal Studies economic think tank, told the BBC he was not surprised by Mr Hunt's pledge to keep the policy in place due to pensioners being an important voting demographic to the Conservative party. But he warned: ""It can't go on forever and they need to give an indication to when they want it to stop."" The rate of price rises in the UK - inflation - has been high in recent years, putting pensioners, as well as working families under financial pressure. Inflation has fallen sharply but interest rates are still at a 16-year high after being raised by the Bank of England in recent times to try to slow the pace of consumer prices rising. It has made borrowing money on things such as credit cards and mortgages much more expensive for households, but has boosted returns for savers. Mr Hunt said the UK was ""not there yet"" when asked whether the cost-of-living crisis had ended, but added that a fall in interest rates would ""make the biggest difference for families up and down the country"". The Bank of England, which sets rates independently from the government, has held rates at 5.25% five times in a row, but signalled last week cuts are to be made this year, possibly as soon as May. ",BBC,24/03/2024,"['Jeremy Hunt has said the Conservatives will keep the triple lock system to decide rises in the state pension if they win the election.', 'The chancellor confirmed the pledge, which means the pension rises in line with average earnings growth, inflation or 2.5% - whichever is highest.', 'He told Sunday with Laura Kuenssberg he was confident the ""expensive"" promise would be paid by growing the economy.', 'Labour said it was ""committed to retaining"" the triple lock.', 'However, it is yet to confirm if the pledge will feature in its election manifesto. ""', 'We will set out those plans for our manifesto in detail,"" Labour party chair Anneliese Dodds told the BBC programme.', 'The state pension will rise by 8.5% in April.', 'Mr Hunt confirmed the current triple lock system to decide how much the payments rise each year would ""absolutely"" remain if the Conservatives win the general election, which must be held by 28 January 2025, for the whole of the next parliament. ""', 'When we came to office in 2010, pensioners were more likely to be in poverty than other income groups, now because of the triple lock that we introduced they are less likely to be in poverty,"" he told the BBC. ""', 'I think that is a very important social change because unlike adults of working age, pensioners can\'t work, they have retired and so we need to respect that.""', 'Mr Hunt said he realised continuing the policy would be an ""expensive commitment"", but added: ""You can only make that commitment if you\'re confident that you\'re going to deliver the economic growth that is going to pay for it.""', 'Liberal Democrat Treasury spokesperson Sarah Olney said the pledge was a ""shameless election trick by the Conservatives"" and claimed Mr Hunt was ""yet again taking pensioners for granted"".', 'Yael Selfin, chief economist at accountancy firm KPMG, said: ""It is easier to make this promise now that inflation is going down.""', ""Inflation rose by 3.4% in the year to February, which is the lowest rate since September 2021 and Ms Selfin predicted that it would fall below the Bank of England's 2% target sooner than expected this year."", 'Ms Selfin said: ""The extra spending on pensions will not necessarily create a lot of growth on its own. [', 'The chancellor] would need to find other ways to stimulate growth.""', 'Labour leader Sir Keir Starmer declined to say if the triple lock would be in his party\'s manifesto when asked by The Sun newspaper last week. ""', 'We will have to see what the state of the economy is as we go into the election.', 'We will publish all of our plans as we go in and answer that question, but I believe in the triple lock.""', 'The state pension is a payment made every four weeks by the government to people who have reached the qualifying age and have paid enough National Insurance contributions.', 'More than 12 million people in the UK receive it.', 'Currently, the pension is worth £203.85 a week for the full, new flat-rate (for those who reached state pension age after April 2016), and £156.20 a week for the full, old basic state pension (for those who reached state pension age before April 2016).', 'In April, the two payments will rise to £221.20 and £169.50 per week respectively, taking the annual totals to £11,502 and £8,814.', ""Next month's increase is set to be the second significant rise in the state pension in two years, after a 10.1% increase in April 2023."", ""The triple lock is designed to ensure pensioners, especially if they rely solely on the state pension, are able to afford rising prices, or keep pace with the increases in the working population's wages."", 'It was introduced by the Conservative-Liberal Democrat coalition government in 2010, but there has been debate over whether it can continue in the long-term future due to its costs.', ""The state pension cost £110.5bn in 2022-2023, just under half the total amount the government spends on benefits, and the government's official forecaster, the Office for Budget Responsibility, estimated the level would grow to £124bn in 2023-2024."", ""Paul Johnson, director of the Institute for Fiscal Studies economic think tank, told the BBC he was not surprised by Mr Hunt's pledge to keep the policy in place due to pensioners being an important voting demographic to the Conservative party."", 'But he warned: ""It can\'t go on forever and they need to give an indication to when they want it to stop.""', 'The rate of price rises in the UK - inflation - has been high in recent years, putting pensioners, as well as working families under financial pressure.', 'Inflation has fallen sharply but interest rates are still at a 16-year high after being raised by the Bank of England in recent times to try to slow the pace of consumer prices rising.', 'It has made borrowing money on things such as credit cards and mortgages much more expensive for households, but has boosted returns for savers.', 'Mr Hunt said the UK was ""not there yet"" when asked whether the cost-of-living crisis had ended, but added that a fall in interest rates would ""make the biggest difference for families up and down the country"".', 'The Bank of England, which sets rates independently from the government, has held rates at 5.25% five times in a row, but signalled last week cuts are to be made this year, possibly as soon as May.']",0.2437337923854865,"Mr Hunt said he realised continuing the policy would be an ""expensive commitment"", but added: ""You can only make that commitment if you're confident that you're going to deliver the economic growth that is going to pay for it.""","When we came to office in 2010, pensioners were more likely to be in poverty than other income groups, now because of the triple lock that we introduced they are less likely to be in poverty,"" he told the BBC. """ Switzerland gets a surprise rate cut. Will other central banks move before the Fed?,https://edition.cnn.com/2024/03/21/economy/switzerland-europe-interest-rate-cuts/index.html," Published 9:38 AM EDT, Thu March 21, 2024 ","The Swiss National Bank surprised markets Thursday by cutting interest rates, becoming the first of the world’s major central banks to do so since they began battling a post-pandemic surge in prices. The SNB announced that it would reduce the cost of borrowing by a quarter of a percentage point as it revised down its forecasts for inflation this year and next. “The fight against inflation over the past two and a half years has been effective,” it said in a statement. Pressure is also building for the European Central Bank to cut rates for the 20 countries that use the euro. Data released Thursday suggested the region’s economy went backward in March, bolstering the case for the ECB to break with tradition and reduce rates before the US Federal Reserve. The Purchasing Managers’ Index showed a slight increase to 49.9 in March, driven by expansion in the services sector, but remained below the 50 mark that separates contraction from growth. Europe’s manufacturers have spent the best part of the past two years grappling with steep energy costs, which surged after Russia invaded Ukraine. Manufacturing remains mired in a deep contraction, according to the latest PMI numbers. Commenting on Thursday’s preliminary data, Christoph Weil, senior economist at Commerzbank, said the eurozone’s economy likely stagnated “at best” in the first quarter. “The services PMI now gives some hope that the economy will return to growth in the spring. The recovery is nevertheless likely to be very subdued at first,” he wrote in a note. It’s a very different story in the United States, where the economy has, despite a turbulent few years marked by high inflation, gone absolutely gangbusters. Fed officials now expect US gross domestic product to rise 2.1% this year, a sizeable jump from their 1.4% forecast in December. Core inflation, which strips out volatile food and energy prices, was also revised upward to 2.4% on the Fed’s preferred measure. The US labor market, meanwhile, remains resilient, with unemployment at historic lows and elevated wage inflation. The Fed kept its key interest rate steady Wednesday but continued to signal three cuts later this year. Unlike its European peer, it has the dual mandate of keeping inflation around 2% and aiming for full employment — an objective that can be aided by cutting rates to stimulate hiring. The ECB’s primary concern is to ensure stable prices. “The ‘why’ of the ECB’s decision comes in stark contrast to the Fed’s,” Felix Feather, an economic analyst at asset manager Abrdn, told CNN. He said the Fed “may choose to lower rates in an effort to pre-emptively stave off risks to the full employment part of its dual mandate.” Still, ahead of its meeting in April, the ECB has signaled that market expectations of the first rate cut in June are right. Traders are putting a high chance on that outcome and their confidence has increased since Wednesday. “When it comes to the data that is relevant for our policy decisions, we will know a bit more by April and a lot more by June,” ECB President Christine Lagarde said Wednesday at a conference in Germany. Annual consumer price inflation in the eurozone has tumbled from a record high of 10.6% in October 2022 to 2.6% in February, not far above the ECB’s 2% target. A cut at the ECB’s June 6 meeting would see it move before the Fed, which traders also currently expect to cut rates when it meets six days later. The Bank of England, which left rates unchanged Thursday, is expected to follow with its first cut later that month. Moving before the central bank of the world’s biggest economy would be an unusual step for the ECB. Lindsay James, investment strategist at Quilter Investors, says the central bank has tended to follow the Fed’s lead, largely because the consequential economic events of the past two decades, such as the global financial crisis, originated on American soil. “The current economic landscape, however, is different altogether, and central banks are not bound by the moves of the past,” she told CNN. Cutting rates before the Fed does could cause the euro to lose value against the dollar, pushing up the cost of dollar-denominated imports and — ironically — fueling inflation. But ECB policymakers are far more concerned right now with boosting the region’s economy, says Adrian Prettejohn, Europe economist at Capital Economics. The central bank “will probably take some solace looking at inflation (projections) in Switzerland,” he told CNN. “What’s really going to matter for the ECB is what’s happening in their economy.”",CNN,21/03/2024,"['The Swiss National Bank surprised markets Thursday by cutting interest rates, becoming the first of the world’s major central banks to do so since they began battling a post-pandemic surge in prices.', 'The SNB announced that it would reduce the cost of borrowing by a quarter of a percentage point as it revised down its forecasts for inflation this year and next. “', 'The fight against inflation over the past two and a half years has been effective,” it said in a statement.', 'Pressure is also building for the European Central Bank to cut rates for the 20 countries that use the euro.', 'Data released Thursday suggested the region’s economy went backward in March, bolstering the case for the ECB to break with tradition and reduce rates before the US Federal Reserve.', 'The Purchasing Managers’ Index showed a slight increase to 49.9 in March, driven by expansion in the services sector, but remained below the 50 mark that separates contraction from growth.', 'Europe’s manufacturers have spent the best part of the past two years grappling with steep energy costs, which surged after Russia invaded Ukraine.', 'Manufacturing remains mired in a deep contraction, according to the latest PMI numbers.', 'Commenting on Thursday’s preliminary data, Christoph Weil, senior economist at Commerzbank, said the eurozone’s economy likely stagnated “at best” in the first quarter.', '“The services PMI now gives some hope that the economy will return to growth in the spring.', 'The recovery is nevertheless likely to be very subdued at first,” he wrote in a note.', 'It’s a very different story in the United States, where the economy has, despite a turbulent few years marked by high inflation, gone absolutely gangbusters.', 'Fed officials now expect US gross domestic product to rise 2.1% this year, a sizeable jump from their 1.4% forecast in December.', 'Core inflation, which strips out volatile food and energy prices, was also revised upward to 2.4% on the Fed’s preferred measure.', 'The US labor market, meanwhile, remains resilient, withunemployment at historic lowsand elevated wage inflation.', 'The Fed kept its key interest rate steady Wednesday but continued to signal three cuts later this year.', 'Unlike its European peer, it has the dual mandate of keeping inflation around 2% and aiming for full employment —an objective that can be aided by cutting rates to stimulate hiring.', 'The ECB’s primary concern is to ensure stable prices.', '“The ‘why’ of the ECB’s decision comes in stark contrast to the Fed’s,” Felix Feather, an economic analyst at asset manager Abrdn, told CNN.', 'He said the Fed “may choose to lower rates in an effort to pre-emptively stave off risks to the full employment part of its dual mandate.”', 'Still, ahead of its meeting in April, the ECB has signaled that market expectations of the first rate cut in June are right.', 'Traders are putting a high chance on that outcome and their confidence has increased since Wednesday.', '“When it comes to the data that is relevant for our policy decisions, we will know a bit more by April and a lot more by June,” ECB President Christine Lagarde said Wednesday at a conference in Germany.', 'Annual consumer price inflation in the eurozone has tumbled from a record high of 10.6% in October 2022 to 2.6% in February, not far above the ECB’s 2% target.', 'A cut at the ECB’s June 6 meeting would see it move before the Fed, which traders also currently expect to cut rates when it meets six days later.', 'The Bank of England, which left rates unchanged Thursday, is expected to follow with its first cut later that month.', 'Moving before the central bank of the world’s biggest economy would be an unusual step for the ECB.', 'Lindsay James, investment strategist at Quilter Investors, says the central bank has tended to follow the Fed’s lead, largely because the consequential economic events of the past two decades, such as the global financial crisis, originated on American soil.', '“The current economic landscape, however, is different altogether, and central banks are not bound by the moves of the past,” she told CNN.', 'Cutting rates before the Fed does could cause the euro to lose value against the dollar, pushing up the cost of dollar-denominated imports and —ironically —fueling inflation.', 'But ECB policymakers are far more concerned right now with boosting the region’s economy, says Adrian Prettejohn, Europe economist at Capital Economics.', 'The central bank “will probably take some solace looking at inflation (projections) in Switzerland,” he told CNN. “', 'What’s really going to matter for the ECB is what’s happening in their economy.”']",0.07860909068531005,Traders are putting a high chance on that outcome and their confidence has increased since Wednesday.,"Lindsay James, investment strategist at Quilter Investors, says the central bank has tended to follow the Fed’s lead, largely because the consequential economic events of the past two decades, such as the global financial crisis, originated on American soil." "Hull funeral home inquiry: 'I spent £2,700 on a fake funeral policy'",https://www.bbc.co.uk/news/uk-england-humber-68636654,2024-03-22T15:26:00.000Z,"Buyers of funeral plans from a Hull funeral home already at the centre of a police inquiry said they have been told their policies are non-existent. Rita Goldspink and Kevin Newton paid about £2,500 each for plans bought from Legacy Independent Funeral Directors in 2018 and 2012 respectively. Each has been told separately that there is no trace of their policy on the third-party insurer's database. Legacy funeral home has been contacted for comment. Two people have been bailed in a police investigation of Legacy Independent Funeral Directors that began on 6 March, following a report of ""concern for care of the deceased"". Rachel Marshall, from Hull, said the pre-paid funeral plan for her mother, Rita Goldspink, 76, had cost £2,700 in April 2018, six months after Legacy had organised her father's funeral. After news emerged of the Humberside Police investigation, Ms Marshall said she contacted the insurer and discovered they could not find ""my mum's name on their database"". She said she was later told by the insurer that she should have received a welcome pack containing details of the plan shortly after purchase. ""My mum was absolutely devastated and I was in total shock,"" said Ms Marshall. ""All that money is gone. ""I'm gutted and have started to realise through conversations [with others that] there are more of us with these fake policies."" Kevin Newton, 69, also from Hull, said he was ""mortified"" to learn that his pre-paid funeral plan, which had cost him £2,239, was similarly untraceable. He said when he bought the third-party policy in 2012, he had received written confirmation and a receipt from Legacy. Shortly afterwards a pack had arrived in the post, which he had believed contained official documents about his policy. However, after his family raised concerns with him last week, Mr Newton said he had phoned the third-party insurer and was told there was no trace of the policy. His daughter Kerry, 35, said: ""It's absolutely shocking because it's a lot of money for my dad to fork out and it's not like he can [afford it] again. ""I know my dad's done it so me and my brother don't have to worry about him when the time comes. It's just devastating. ""It's unforgiveable."" Another woman from Hull, who wishes to remain anonymous, said she ""can't get [her] head round"" being told there was no record of her £2,500 pre-paid funeral plan, bought from Legacy in 2016. She said she had bought the plan after using the company to arrange the funerals of both her parents, who had died three weeks apart. She too had believed a pack she received was evidence of the third-party policy. But she discovered last week the policy did not exist, the woman said. ""Initially... all I was concerned about was my mum and dad. They're supposed to be buried together in the same grave. I hope they are but I just don't know now. I'm thinking: are they there? ""But now - finding this policy is worthless - it's just a cherry on the icing, really. I'm completely shocked. ""I mean, I'm still more troubled about mum and dad at the moment. But I know I'll never get any answers on that."" The BBC has seen documents given to all three families who bought the plans from Legacy. It is unclear whether Legacy submitted the filled-in application forms to the insurer. In a statement, the third-party insurer, Ecclesiastical Planning Services, said: ""This is a deeply distressing incident for the families affected. ""We are unable to comment on individual cases but we are working with families who contact us to establish if they have a plan with us."" All three families said they had ""lost trust"" in the financial sector, particularly in the funeral industry, and have called for tighter regulations. The woman said: ""I think anyone setting up a funeral business should have some sort of qualification or have been trained. And there has to be regular inspections."" Ms Marshall urged anyone who had bought a pre-paid funeral plan to ""check your policy"". ""More or less everything goes on trust,"" she said. Few details about the police investigation have been revealed but a quantity of ashes and 35 bodies were recovered from Legacy's Hessle Road premises and taken to another mortuary. The families involved have been contacted, Humberside Police have said. A 46-year-old man and a 23-year-old woman were arrested on suspicion of prevention of a lawful and decent burial, fraud by false representation and fraud by abuse of position. They have since been released on bail while police inquiries continue. The force said its dedicated helpline numbers remain open. Follow BBC East Yorkshire and Lincolnshire on Facebook, X (formerly Twitter), and Instagram. Send your story ideas to eastyorkslincs.news@bbc.co.uk Are you affected by the issues raised in this story? Share your experiences by emailing haveyoursay@bbc.co.uk Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk Please include your name, age and location with any submission. ",BBC,22/03/2024,"['Buyers of funeral plans from a Hull funeral home already at the centre of a police inquiry said they have been told their policies are non-existent.', 'Rita Goldspink and Kevin Newton paid about £2,500 each for plans bought from Legacy Independent Funeral Directors in 2018 and 2012 respectively.', ""Each has been told separately that there is no trace of their policy on the third-party insurer's database."", 'Legacy funeral home has been contacted for comment.', 'Two people have been bailed in a police investigation of Legacy Independent Funeral Directors that began on 6 March, following a report of ""concern for care of the deceased"".', ""Rachel Marshall, from Hull, said the pre-paid funeral plan for her mother, Rita Goldspink, 76, had cost £2,700 in April 2018, six months after Legacy had organised her father's funeral."", 'After news emerged of the Humberside Police investigation, Ms Marshall said she contacted the insurer and discovered they could not find ""my mum\'s name on their database"".', 'She said she was later told by the insurer that she should have received a welcome pack containing details of the plan shortly after purchase. ""', 'My mum was absolutely devastated and I was in total shock,"" said Ms Marshall. ""', 'All that money is gone. ""', 'I\'m gutted and have started to realise through conversations [with others that] there are more of us with these fake policies.""', 'Kevin Newton, 69, also from Hull, said he was ""mortified"" to learn that his pre-paid funeral plan, which had cost him £2,239, was similarly untraceable.', 'He said when he bought the third-party policy in 2012, he had received written confirmation and a receipt from Legacy.', 'Shortly afterwards a pack had arrived in the post, which he had believed contained official documents about his policy.', 'However, after his family raised concerns with him last week, Mr Newton said he had phoned the third-party insurer and was told there was no trace of the policy.', 'His daughter Kerry, 35, said: ""It\'s absolutely shocking because it\'s a lot of money for my dad to fork out and it\'s not like he can [afford it] again. ""', ""I know my dad's done it so me and my brother don't have to worry about him when the time comes."", 'It\'s just devastating. ""', 'It\'s unforgiveable.""', 'Another woman from Hull, who wishes to remain anonymous, said she ""can\'t get [her] head round"" being told there was no record of her £2,500 pre-paid funeral plan, bought from Legacy in 2016.', 'She said she had bought the plan after using the company to arrange the funerals of both her parents, who had died three weeks apart.', 'She too had believed a pack she received was evidence of the third-party policy.', 'But she discovered last week the policy did not exist, the woman said. ""', 'Initially... all I was concerned about was my mum and dad.', ""They're supposed to be buried together in the same grave."", ""I hope they are but I just don't know now."", 'I\'m thinking: are they there? ""', ""But now - finding this policy is worthless - it's just a cherry on the icing, really."", 'I\'m completely shocked. ""', ""I mean, I'm still more troubled about mum and dad at the moment."", 'But I know I\'ll never get any answers on that.""', 'The BBC has seen documents given to all three families who bought the plans from Legacy.', 'It is unclear whether Legacy submitted the filled-in application forms to the insurer.', 'In a statement, the third-party insurer, Ecclesiastical Planning Services, said: ""This is a deeply distressing incident for the families affected. ""', 'We are unable to comment on individual cases but we are working with families who contact us to establish if they have a plan with us.""', 'All three families said they had ""lost trust"" in the financial sector, particularly in the funeral industry, and have called for tighter regulations.', 'The woman said: ""I think anyone setting up a funeral business should have some sort of qualification or have been trained.', 'And there has to be regular inspections.""', 'Ms Marshall urged anyone who had bought a pre-paid funeral plan to ""check your policy"". ""', 'More or less everything goes on trust,"" she said.', ""Few details about the police investigation have been revealed but a quantity of ashes and 35 bodies were recovered from Legacy's Hessle Road premises and taken to another mortuary."", 'The families involved have been contacted, Humberside Police have said.', 'A 46-year-old man and a 23-year-old woman were arrested on suspicion of prevention of a lawful and decent burial, fraud by false representation and fraud by abuse of position.', 'They have since been released on bail while police inquiries continue.', 'The force said its dedicated helpline numbers remain open.', 'Follow BBC East Yorkshire and Lincolnshire on Facebook, X (formerly Twitter), and Instagram.', 'Send your story ideas to eastyorkslincs.news@bbc.co.uk Are you affected by the issues raised in this story?', 'Share your experiences by emailing haveyoursay@bbc.co.uk Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk Please include your name, age and location with any submission.""]",-0.13737844245260844,Share your experiences by emailing haveyoursay@bbc.co.uk Please include a contact number if you are willing to speak to a BBC journalist.,"A 46-year-old man and a 23-year-old woman were arrested on suspicion of prevention of a lawful and decent burial, fraud by false representation and fraud by abuse of position." Emergency expenses will happen. Try these strategies if you don’t have the cash on hand,https://edition.cnn.com/2024/03/11/success/lack-of-emergency-savings/index.html," Published 6:00 AM EDT, Mon March 11, 2024 ","Whether it’s an unexpected car repair or an emergency room visit, life happens. And it’s expensive. For those without any kind of safety net, paying for unanticipated expenses can mean borrowing money at astronomical interest rates, as well as forking over late fees if you can’t make payments on time. And while surveys indicate that there are plenty of people in just such a situation, there are some inexpensive and safe ways to access emergency funds. In a May 2023 report on the economic well-being of US households, the Federal Reserve reported that only 63% of Americans said they would pay an unexpected $400 expense with their own cash or cash equivalent (e.g. putting it on a credit card but paying that bill in full when it comes due). Of the remaining 37%, most indicated they would borrow the money (using everything from credit cards to payday loans to friends or family). Some said they would sell something to foot the bill. And 13% indicated they simply would not be able to pay it. Another survey, released by Bankrate.com in January, found that only 44% of US adults said they could pay a $1,000 emergency expense from their savings, while 35% indicated they would have to borrow the money. In that latter group, 21% said they would finance it with a credit card; 10% would borrow the money from family or friends, and 4% say they would take out a personal loan. Another 16% say they would have to reduce their spending on other things. An earlier survey by Bankrate, meanwhile, found that two-thirds of US adults worried they don’t have enough emergency savings to cover them if they lost their primary source of income. Typically, that would mean at least three months’ worth of living expenses. Credit card interest rates remain sky-high — the average at the end of February was 20.75%, according to Bankrate.com, with average penalty rates pushing 30%. So simply charging an emergency expense to a high-rate card should be your last resort. You might, however, look for a new credit card with a 0% introductory rate that will be in effect for a year or more, said Noah Damsky, founder of Marina Wealth Advisors. “This will provide you with the short-term cash you need, and provide you potentially with 18 months to pay it back, without interest.” Just be sure to pay it all back before the 0% introductory period ends, otherwise a high rate will kick in for the remaining balance. If your emergency is medical or dental in nature, ask the health provider if they offer a payment plan. “Many providers offer plans without interest, allowing you to spread the cost over several months,” said Marcel Miu, lead wealth planner at Simplify Wealth Planning. For some people, another low-cost option might be to borrow from a close relative or friend, but only if doing so would not jeopardize your relationship — which is a very personal decision. “While this option requires careful consideration and clear communication about repayment terms, it can be a way to cover expenses without the formalities and costs associated with traditional loans,” Miu said. In recent years, alternative ways to access cash have also been created outside of the traditional financial system, which has proven expensive for many families. Daisy Martini, a 29-year-old working for New York City’s Department of Education, felt she didn’t have many good options after she’d been temporarily laid off during the pandemic. Her bills were piling up and she had already accrued high credit card balances from her years in school. So to get small, short-term loans to tide her over, she turned to SoLo Funds, a community financing platform that puts borrowers in the driver seat: They decide how much they need to borrow, when they can pay it back and how much they’re willing to pay a lender as a “tip” for providing the loan. That tip can never exceed 15% of the loan. Borrowers may offer a much smaller tip, or even nothing. It’s up to lenders to decide if they will accept the borrowers’ terms. Loan amounts can’t exceed $575 and the average is $248, according to SoLo cofounder Rodney Williams. Once borrowers repay in full, they can then borrow again. Besides using SoLo for small emergency expenses, such as fixing a leak in the roof, Martini said she sometimes uses it for expenses she has a week ahead of when she knows she will be paid. She likes the platform better than the more anonymous interactions with a credit card company. Knowing who is lending to her gives her even more incentive to pay what she owes on time. “I knew if I borrowed from someone in the community who cared, I would … pay them back. You’re paying someone back who empathizes with your story,” she said. While getting a low-cost loan to tide you over in a pinch may be a relief, not having to borrow at all is optimal. To make the next emergency expense less stressful and costly, you can build emergency savings with small amounts consistently over time. Damsky recommends setting up automatic daily transfers from your checking account to a savings account. For example, he said, if you want to save roughly $150 a month, you could set up a transfer of just $5 a day or $35 a week. At the end of a year, you will have built up more than $1,800, plus whatever interest you earn on those savings. To maximize that interest, try to transfer your money into a high-yielding online savings account, which currently pay between 4% and 5%, according to Bankrate.com. The same pattern applies if your goal is to have at least three months of living expenses to protect you in case you lose your job. “Even small amounts, if consistent, can accumulate over time,” Miu said. He also recommends redirecting at least a portion of one-time annual windfalls — such as a tax refund or bonus — to a high-yield savings account. Two other proven ways to bolster emergency savings are increasing your income (e.g., taking on a side gig,) or cutting back on spending that you do not consider essential to your life, said Linda Grizely, a fee-only planner at Visions Financial Planning. But, she cautioned, ”It’s important to strike a balance and avoid excessive cuts. A plan that can be adhered to is the key to success.”",CNN,11/03/2024,"['Whether it’s an unexpected car repair or an emergency room visit, life happens.', 'And it’s expensive.', 'For those without any kind of safety net, paying for unanticipated expenses can mean borrowing money at astronomical interest rates, as well as forking over late fees if you can’t make payments on time.', 'And while surveys indicate that there are plenty of people in just such a situation, there are some inexpensive and safe ways to access emergency funds.', 'In a May 2023 report on the economic well-being of US households, the Federal Reserve reported that only 63% of Americans said they would pay an unexpected $400 expense with their own cash or cash equivalent (e.g. putting it on a credit card but paying that bill in full when it comes due).', 'Of the remaining 37%, most indicated they would borrow the money (using everything from credit cards to payday loans to friends or family).', 'Some said they would sell something to foot the bill.', 'And 13% indicated they simply would not be able to pay it.', 'Another survey, released by Bankrate.com in January, found that only 44% of US adults said they could pay a $1,000 emergency expense from their savings, while 35% indicated they would have to borrow the money.', 'In that latter group, 21% said they would finance it with a credit card; 10% would borrow the money from family or friends, and 4% say they would take out a personal loan.', 'Another 16% say they would have to reduce their spending on other things.', 'An earlier survey by Bankrate, meanwhile, found that two-thirds of US adults worried they don’t have enough emergency savings to cover them if they lost their primary source of income.', 'Typically, that would mean at least three months’ worth of living expenses.', 'Credit card interest rates remain sky-high — the average at the end of February was 20.75%, according to Bankrate.com, with average penalty rates pushing 30%.', 'So simply charging an emergency expense to a high-rate card should be your last resort.', 'You might, however, look for a new credit card with a 0% introductory rate that will be in effect for a year or more, said Noah Damsky, founder of Marina Wealth Advisors. “', 'This will provide you with the short-term cash you need, and provide you potentially with 18 months to pay it back, without interest.”', 'Just be sure to pay it all back before the 0% introductory period ends, otherwise a high rate will kick in for the remaining balance.', 'If your emergency is medical or dental in nature, ask the health provider if they offer a payment plan. “', 'Many providers offer plans without interest, allowing you to spread the cost over several months,” said Marcel Miu, lead wealth planner at Simplify Wealth Planning.', 'For some people, another low-cost option might be to borrow from a close relative or friend, but only if doing so would not jeopardize your relationship — which is a very personal decision. “', 'While this option requires careful consideration and clear communication about repayment terms, it can be a way to cover expenses without the formalities and costs associated with traditional loans,” Miu said.', 'In recent years, alternative ways to access cash have also been created outside of the traditional financial system, which has proven expensive for many families.', 'Daisy Martini, a 29-year-old working for New York City’s Department of Education, felt she didn’t have many good options after she’d been temporarily laid off during the pandemic.', 'Her bills were piling up and she had already accrued high credit card balances from her years in school.', 'So to get small, short-term loans to tide her over, she turned to SoLo Funds, a community financing platform that puts borrowers in the driver seat: They decide how much they need to borrow, when they can pay it back and how much they’re willing to pay a lender as a “tip” for providing the loan.', 'That tip can never exceed 15% of the loan.', 'Borrowers may offer a much smaller tip, or even nothing.', 'It’s up to lenders to decide if they will accept the borrowers’ terms.', 'Loan amounts can’t exceed $575 and the average is $248, according to SoLo cofounder Rodney Williams.', 'Once borrowers repay in full, they can then borrow again.', 'Besides using SoLo for small emergency expenses, such as fixing a leak in the roof, Martini said she sometimes uses it for expenses she has a week ahead of when she knows she will be paid.', 'She likes the platform better than the more anonymous interactions with a credit card company.', 'Knowing who is lending to her gives her even more incentive to pay what she owes on time.', '“I knew if I borrowed from someone in the community who cared, I would … pay them back.', 'You’re paying someone back who empathizes with your story,” she said.', 'While getting a low-cost loan to tide you over in a pinch may be a relief, not having to borrow at all is optimal.', 'To make the next emergency expense less stressful and costly, you can build emergency savings with small amounts consistently over time.', 'Damsky recommends setting up automatic daily transfers from your checking account to a savings account.', 'For example, he said, if you want to save roughly $150 a month, you could set up a transfer of just $5 a day or $35 a week.', 'At the end of a year, you will have built up more than $1,800, plus whatever interest you earn on those savings.', 'To maximize that interest, try to transfer your money into a high-yielding online savings account, which currently pay between 4% and 5%, according to Bankrate.com.', 'The same pattern applies if your goal is to have at least three months of living expenses to protect you in case you lose your job. “', 'Even small amounts, if consistent, can accumulate over time,” Miu said.', 'He also recommends redirecting at least a portion of one-time annual windfalls — such as a tax refund or bonus — to a high-yield savings account.', 'Two other proven ways to bolster emergency savings are increasing your income (e.g., taking on a side gig,) or cutting back on spending that you do not consider essential to your life, said Linda Grizely, a fee-only planner at Visions Financial Planning.', 'But, she cautioned, ”It’s important to strike a balance and avoid excessive cuts.', 'A plan that can be adhered to is the key to success.”']",0.12415654099703144,She likes the platform better than the more anonymous interactions with a credit card company.,"To make the next emergency expense less stressful and costly, you can build emergency savings with small amounts consistently over time." Trump poised for billions as stock market deal passes,https://www.bbc.co.uk/news/business-68609007,2024-03-22T02:51:02.000Z,"Donald Trump appears to be scrambling for funds to pay a $464m (£365m) fraud fine. Could the stock market ride to his rescue? Trump Media, which runs the social media platform Truth Social, is poised to become a publicly listed company, after a majority of shareholders of Digital World Acquisition Corp voted on Friday to acquire it. Mr Trump is due to have a stake of at least 58% in the merged company, worth nearly $3bn at Digital World's current share prices. It's an astonishing potential windfall for Mr Trump in exchange for a business whose own auditor warned last year it was at risk of failure. Never mind the many red flags associated with the deal, including unresolved lawsuits from former business partners. There's also an $18m settlement that Digital World agreed to pay last year to resolve fraud charges over how the merger plan came together. Shares in Digital World dropped more than 13% on Friday after the approval, ending the day at $36.94. Backers of Digital World - the vast majority of whom are individual investors instead of Wall Street firms, many apparently Trump loyalists - seemed unfazed. ""This is just the start,"" Chad Nedohin, a deal supporter, said on his show DWAC Live on the video platform Rumble after the approval was announced. ""There's no reason to freak out."" Digital World, or DWAC (pronounced D-whack), is what is known as a SPAC, or a shell business created expressly to buy another firm and take it public. The company will now be renamed Trump Media & Technology Group and could start trading on the Nasdaq stock exchange under the ticker DJT as soon as next week. The deal is unlikely to immediately resolve Mr Trump's most pressing financial issues, such as his New York fraud penalty. The former president is barred from selling or transferring his shares for at least six months - though the new company could grant him an exemption. Mr Trump could also try to get a loan, backed by the value of the shares. But in this case, analysts said a bank would probably lend him significantly less than the shares are worth on paper, given the potential risks of the business. That hasn't stopped some of his supporters hoping their backing will help. Mr Nedohin, who describes himself on his website as a Canadian ""worship leader"" and goes by Captain DWAC on Truth Social, declined to be interviewed. But on his show this week he urged investors to approve the deal, speculating it could help the former president in his legal battles. ""If the merger is complete Friday at 10am and Trump all of a sudden has... shares of DJT that's worth three, four, five $10bn, who knows? He could easily leverage that to get a loan,"" he said. He added: ""This is putting your money where your mouth is for free speech, to save your country, potentially losing it all."" The risk that Digital World shareholders will lose money on their investment is significant, according to analysts. Share prices are down from the highs they reached after plans to purchase Trump Media were announced in 2021. But even after Friday's slide, they still imply Trump Media has a value of almost $5bn, which is a lot given it brought in just $3.3m in revenue in the first nine months of last year and lost nearly $50m. The merger will provide an influx of more than $200m in cash to Trump Media, which it could use for growth and expansion. But for now Truth Social, which launched to the general public in 2022, branding itself as an alternative to major social media platforms like Twitter and Facebook, remains small. It claims about 8.9 million sign-ups and in regulatory filings Trump Media warns prospective investors that it does not track metrics like user growth or engagement that could give them a sense of its operations. And it says it has little intention of doing so. Outside firms estimate Truth Social received about five million visits in February. By comparison, Elon Musk's X, formerly Twitter, and recently valued by one investor at about $14bn, received more than 100 million visits. Analysts said Digital World was a prime example of a ""meme stock"", in which the share price is divorced from a company's fundamentals - and near-destined to fall, eventually. ""With Trump Media, I expect that it will collapse but whether it's going to occur a week from now or two years from now and how rapidly... those things are really difficult to predict,"" said University of Florida finance professor Jay Ritter, who tracks public listings. Marco Iachini, senior vice-president of research at Vanda Securities, said individual investors piled into Digital World stock after the Trump deal was announced, and again in January, after he won the Iowa primary. Ahead of the vote this week, he said there had been less activity, a sign that professional firms might be the ones driving the trading. Whatever is motivating buyers, Mr Trump, whose main contributions to Trump Media have been his name and posts on the platform, appears poised to be the top beneficiary. ""It's an enormous transfer of value from [investors]... to Trump, which stands to be extremely lucrative for him,"" says Michael Ohlrogge, a law professor at New York University who has studied listings of companies such as Trump Media. ",BBC,22/03/2024,"['Donald Trump appears to be scrambling for funds to pay a $464m (£365m) fraud fine.', 'Could the stock market ride to his rescue?', 'Trump Media, which runs the social media platform Truth Social, is poised to become a publicly listed company, after a majority of shareholders of Digital World Acquisition Corp voted on Friday to acquire it.', ""Mr Trump is due to have a stake of at least 58% in the merged company, worth nearly $3bn at Digital World's current share prices."", ""It's an astonishing potential windfall for Mr Trump in exchange for a business whose own auditor warned last year it was at risk of failure."", 'Never mind the many red flags associated with the deal, including unresolved lawsuits from former business partners.', ""There's also an $18m settlement that Digital World agreed to pay last year to resolve fraud charges over how the merger plan came together."", 'Shares in Digital World dropped more than 13% on Friday after the approval, ending the day at $36.94.', 'Backers of Digital World - the vast majority of whom are individual investors instead of Wall Street firms, many apparently Trump loyalists - seemed unfazed. ""', 'This is just the start,"" Chad Nedohin, a deal supporter, said on his show DWAC Live on the video platform Rumble after the approval was announced. ""', 'There\'s no reason to freak out.""', 'Digital World, or DWAC (pronounced D-whack), is what is known as a SPAC, or a shell business created expressly to buy another firm and take it public.', 'The company will now be renamed Trump Media & Technology Group and could start trading on the Nasdaq stock exchange under the ticker DJT as soon as next week.', ""The deal is unlikely to immediately resolve Mr Trump's most pressing financial issues, such as his New York fraud penalty."", 'The former president is barred from selling or transferring his shares for at least six months - though the new company could grant him an exemption.', 'Mr Trump could also try to get a loan, backed by the value of the shares.', 'But in this case, analysts said a bank would probably lend him significantly less than the shares are worth on paper, given the potential risks of the business.', ""That hasn't stopped some of his supporters hoping their backing will help."", 'Mr Nedohin, who describes himself on his website as a Canadian ""worship leader"" and goes by Captain DWAC on Truth Social, declined to be interviewed.', 'But on his show this week he urged investors to approve the deal, speculating it could help the former president in his legal battles. ""', ""If the merger is complete Friday at 10am and Trump all of a sudden has... shares of DJT that's worth three, four, five $10bn, who knows?"", 'He could easily leverage that to get a loan,"" he said.', 'He added: ""This is putting your money where your mouth is for free speech, to save your country, potentially losing it all.""', 'The risk that Digital World shareholders will lose money on their investment is significant, according to analysts.', 'Share prices are down from the highs they reached after plans to purchase Trump Media were announced in 2021.', ""But even after Friday's slide, they still imply Trump Media has a value of almost $5bn, which is a lot given it brought in just $3.3m in revenue in the first nine months of last year and lost nearly $50m. The merger will provide an influx of more than $200m in cash to Trump Media, which it could use for growth and expansion."", 'But for now Truth Social, which launched to the general public in 2022, branding itself as an alternative to major social media platforms like Twitter and Facebook, remains small.', 'It claims about 8.9 million sign-ups and in regulatory filings Trump Media warns prospective investors that it does not track metrics like user growth or engagement that could give them a sense of its operations.', 'And it says it has little intention of doing so.', 'Outside firms estimate Truth Social received about five million visits in February.', ""By comparison, Elon Musk's X, formerly Twitter, and recently valued by one investor at about $14bn, received more than 100 million visits."", 'Analysts said Digital World was a prime example of a ""meme stock"", in which the share price is divorced from a company\'s fundamentals - and near-destined to fall, eventually. ""', 'With Trump Media, I expect that it will collapse but whether it\'s going to occur a week from now or two years from now and how rapidly... those things are really difficult to predict,"" said University of Florida finance professor Jay Ritter, who tracks public listings.', 'Marco Iachini, senior vice-president of research at Vanda Securities, said individual investors piled into Digital World stock after the Trump deal was announced, and again in January, after he won the Iowa primary.', 'Ahead of the vote this week, he said there had been less activity, a sign that professional firms might be the ones driving the trading.', 'Whatever is motivating buyers, Mr Trump, whose main contributions to Trump Media have been his name and posts on the platform, appears poised to be the top beneficiary. ""', 'It\'s an enormous transfer of value from [investors]... to Trump, which stands to be extremely lucrative for him,"" says Michael Ohlrogge, a law professor at New York University who has studied listings of companies such as Trump Media.']",0.23329388607923818,"Whatever is motivating buyers, Mr Trump, whose main contributions to Trump Media have been his name and posts on the platform, appears poised to be the top beneficiary. """,It's an astonishing potential windfall for Mr Trump in exchange for a business whose own auditor warned last year it was at risk of failure. 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.”']",0.06277721738923508,"“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." "Prince Harry targets Rupert Murdoch in phone hacking lawsuit, alleges mogul was involved in a cover-up",https://edition.cnn.com/2024/03/21/media/prince-harry-rupert-murdoch-phone-hacking-lawsuit/index.html," Published 7:36 AM EDT, Thu March 21, 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. Rupert Murdoch is at risk of being personally dragged into another major lawsuit. Lawyers for Prince Harry and a number of other notable public figures, including Guy Ritchie and Hugh Grant, asked a U.K. court on Wednesday for permission to amend their lawsuit against Murdoch’s British newspaper company, leveling the explosive allegation that the billionaire media mogul was personally involved in covering up wrongdoing. The lawsuit, filed in 2019, accuses News Group Newspapers, the parent company of The Sun tabloid and defunct News of the World, of illegal privacy invasions, including hacking. The illicit behavior occurred from the mid-1990s until 2016, according to the lawsuit. Lawyers for the Duke of Sussex now want to include claims that Murdoch personally provided “knowingly false” information on the matter. They also allege Rebekah Brooks, a top Murdoch lieutenant who currently oversees his British newspapers, of having also “lied and/or gave deliberately misleading evidence.” Executives at the newspaper group, including Murdoch, publicly promoted the false claim that there was only “one rogue reporter” in the News of the World scandal and attempted to “buy” the silence of senior executives, Harry’s lawyers said. The lawyers added that “they would not have been carrying out this extensive concealment and destruction strategy without the knowledge and approval of Rupert Murdoch and [his son and then-executive chairman] James Murdoch.” NGN aggressively pushed back on the allegations, with a spokesperson saying in a statement that they amounted to a “scurrilous and cynical attack on their integrity” and “have nothing to do with seeking compensation for victims of phone hacking or unlawful information gathering.” “Some of these allegations date back to events now thirty years old and relate to allegations which are irrelevant to the matters which are now in issue between the parties,” the spokesperson added. The high-profile suit threatens to further mar the legacy of Murdoch as the nonagenarian enters the twilight of his career and comes in the wake of multiple damaging lawsuits against Fox News, the highly profitable crown jewel of his global media empire. And the case brewing in the U.K., which is set to go to trial early next year, has the potential to have larger ramifications, rippling across the pond to the U.S. Not only is Murdoch at the center of the lawsuit, but his former deputy turned Washington Post chief executive and publisher Will Lewis is also facing allegations of engaging in the alleged cover-up. (It goes without saying that Lewis has denied all wrongdoing.) The phone hacking scandal rocked Murdoch’s media empire more than a decade ago and marked one of the lowest moments in the billionaire’s career. At the time, NGN issued an apology to victims, Murdoch shut down the popular News of the World, and the company has since settled hundreds of legal cases stemming from the scandal. Illegal phone hacking was not unique to Murdoch’s U.K. publications. The bad behavior extended to other outlets, with the country’s notoriously aggressive tabloid press doing whatever it could to dig up celebrity dirt. Just last year a court ruled that Harry was also the victim of “extensive” phone hacking by Mirror Group Newspapers. Harry is also suing the publisher of the Daily Mail. And he said that Murdoch’s newspapers paid his brother, Prince William, a “large sum” to settle hacking claims. On Wednesday, NGN said it wants to put its own scandal to bed. “These proceedings have now been going on for over fifteen years,” the spokesperson said, “and NGN is seeking to bring them to a close.”",CNN,21/03/2024,"['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.', 'Rupert Murdoch is at risk of being personally dragged into another major lawsuit.', 'Lawyers for Prince Harry and a number of other notable public figures, including Guy Ritchie and Hugh Grant, asked a U.K. court on Wednesday for permission to amend their lawsuit against Murdoch’s British newspaper company, leveling the explosive allegation that the billionaire media mogul was personally involved in covering up wrongdoing.', 'The lawsuit, filed in 2019, accuses News Group Newspapers, the parent company of The Sun tabloid and defunct News of the World, of illegal privacy invasions, including hacking.', 'The illicit behavior occurred from the mid-1990s until 2016, according to the lawsuit.', 'Lawyers for the Duke of Sussex now want to include claims that Murdoch personally provided “knowingly false” information on the matter.', 'They also allege Rebekah Brooks, a top Murdoch lieutenant who currently oversees his British newspapers, of having also “lied and/or gave deliberately misleading evidence.”', 'Executives at the newspaper group, including Murdoch, publicly promoted the false claim that there was only “one rogue reporter” in the News of the World scandal and attempted to “buy” the silence of senior executives, Harry’s lawyers said.', 'The lawyers added that “they would not have been carrying out this extensive concealment and destruction strategy without the knowledge and approval of Rupert Murdoch and [his son and then-executive chairman] James Murdoch.”', 'NGN aggressively pushed back on the allegations, with a spokesperson saying in a statement that they amounted to a “scurrilous and cynical attack on their integrity” and “have nothing to do with seeking compensation for victims of phone hacking or unlawful information gathering.”', '“Some of these allegations date back to events now thirty years old and relate to allegations which are irrelevant to the matters which are now in issue between the parties,” the spokesperson added.', 'The high-profile suit threatens to further mar the legacy of Murdoch as the nonagenarian enters the twilight of his career and comes in the wake of multiple damaging lawsuits against Fox News, the highly profitable crown jewel of his global media empire.', 'And the case brewing in the U.K., which is set to go to trial early next year, has the potential to have larger ramifications, rippling across the pond to the U.S. Not only is Murdoch at the center of the lawsuit, but his former deputy turned Washington Post chief executive and publisher Will Lewis is also facing allegations of engaging in the alleged cover-up. (', 'It goes without saying that Lewis has denied all wrongdoing.)', 'The phone hacking scandal rocked Murdoch’s media empire more than a decade ago and marked one of the lowest moments in the billionaire’s career.', 'At the time, NGN issued an apology to victims, Murdoch shut down the popular News of the World, and the company has since settled hundreds of legal cases stemming from the scandal.', 'Illegal phone hacking was not unique to Murdoch’s U.K. publications.', 'The bad behavior extended to other outlets, with the country’s notoriously aggressive tabloid press doing whatever it could to dig up celebrity dirt.', 'Just last year a court ruled that Harry was also the victim of “extensive” phone hacking by Mirror Group Newspapers.', 'Harry is also suing the publisher of the Daily Mail.', 'And he said that Murdoch’s newspapers paid his brother, Prince William, a “large sum” to settle hacking claims.', 'On Wednesday, NGN said it wants to put its own scandal to bed.', '“These proceedings have now been going on for over fifteen years,” the spokesperson said, “and NGN is seeking to bring them to a close.”']",-0.23468603883916617,"“Some of these allegations date back to events now thirty years old and relate to allegations which are irrelevant to the matters which are now in issue between the parties,” the spokesperson added.","The lawsuit, filed in 2019, accuses News Group Newspapers, the parent company of The Sun tabloid and defunct News of the World, of illegal privacy invasions, including hacking." Why are bidets just now getting popular in America?,https://edition.cnn.com/2024/03/24/business/bidet-boom-america-toilets/index.html," Published 10:30 AM EDT, Sun March 24, 2024 ","Bring up installing a bidet to the average American before the pandemic, and they might have likely flushed the idea straightaway. The bathroom washer business, once a foreign concept to many in the US, experienced a huge boom during the Covid-19 pandemic, when shoppers were battling over toilet paper shortages. But while some products or industries saw a boom during Covid that later came back down to earth –- say, masks, roller skates, pet adoptions, Zoom subscriptions, Peloton bikes -– bidets made a big splash and have managed to maintain sales growth. Bidets and their product cousins – washlets, “bum guns” and other water-based alternatives to toilet paper – are universal in most parts of the world; bidet enthusiasts tout how the devices are more sustainable, clean, and less abrasive. But Americans just can’t seem to let go of the Charmin Bear. It took a toilet paper shortage for some to come around to the 18th-century invention. During the pandemic, every single bidet sold out at bidetking.com, and the business grew exponentially, bidetking.com founder James Lin said. The site faced a massive supply crunch, and it had to air freight costly containers to meet demands. Lin described shipments of products from abroad by water completely selling out before they even hit the warehouse. By some estimates, the entire bidet market grew two to three times during 2020. Tushy, which makes a trendy bidet seat attachment, pulled in a revenue of $40 million in 2020 versus $8 million in 2019, founder Miki Agrawal said to CNN. Americans are still intrigued by the bidet. Bidetking.com reports sales have grown a minimum of 20% each year since the pandemic, with 2023 closer to 30%. A dizzying array of bidet options confront the burgeoning American consumer. Big spenders can find luxury options to give their porcelain throne the royal treatment. Japanese electronic bidet seat maker Toto sells a “washlet” for as much as $1,420 on bidetking.com, equipped with a water heating system (that heats the toilet seat and the jet streams of water that clean the user’s backside), a wireless remote control (with multiple spray settings) and a hands-free dryer. Tushy, defined by its whimsical marketing, sells a popular bidet attachment starting at $99. Few people buy a bidet every year, so much of the growth is coming from new customers. Often, bidet sales spread just through word of mouth. Once one person is converted to the new method of bathroom sanitation, they want their friends and family to join the club. And many of those customers often become entrenched rather than transient. Some customers who start with more basic washer attachments are now upgrading to electronic models that have different temperature and pressure settings. The most popular type of bidet in the US, Lin said, is a non-electric attachment that only sprays cold water, found for less than $50 on sites like Amazon. Others have found an even cheaper alternative. Joe from Michigan, who did not want to be identified by his last name, says he grabbed a bidet attached to a toilet being discarded on the side of the street, and purchased an adapter hose to fit it into his home (after sanitizing it). “Gosh, I wish I would have known about it sooner,” Joe told CNN. The idea to use flowing water – rather than harder objects, whether leaves or paper – to clean one’s underside may be as old as human existence. The bidet originated in France, used by aristocrats as a separate piece of furniture next to the chamber pot. Variations of the bidet are ubiquitous in a large swath of Europe to the Middle East, East Asia and some South American countries. During the booming electronics era, the Japanese brand Toto revolutionized the washlet in 1980 with a toilet seat attachment that uses warm water to cleanse. The devices have proliferated to homes and businesses around Japan and beyond. A common reason why bidets aren’t used in the US is that during World War 2, American soldiers saw brothels utilizing bidets. When they came back to United States, they shunned the bidet because of the connotations. Plus, the construction boom that took place in the post-war years built plumbing systems without bidets. (Japanese washlets and other devices, however, connect to existing toilets and don’t require separate plumbing like French-style bidets.) The foreignness of bidets stuck. Some of the new bidet users CNN interviewed said they had associated the object with places like Europe or Japan, or something found in fancy hotels. When Joe and his wife lived in Spain, he initially didn’t even know what the unattached bidet in their apartment bathroom was used for. Agrawal, the Tushy founder, said she was drawn to the bidet business because it was a standard practice she grew up in with an Indian father and Japanese mother. Of course, for many, water-based cleanliness has long been entrenched in their culture, going back centuries. For example, for practicing Muslims, the Islamic jurisprudence lays out strict guidelines on washing oneself. Many Asian and Middle Eastern countries utilize “bum guns,” or low-cost handheld sprayers attached by a hose to the side of the toilet, or jugs that look like watering cans. Eyad Atieh, a resident physician in Illinois, spent part of his childhood and adolesence in Jordan, where every house had a bidet installed. In his medical training, he learned the bidet’s health benefits, especially for those who suffer from hemorrhoids and hernias. “A big part of our culture is using water to clean, otherwise you can’t pray, you can’t be considered clean Islamically,” Atieh said. When the great toilet paper shortage hit in 2020, many Americans realized there could be another way to clean themselves. Environmental concerns around trees, paper and waste perhaps also played a role. Using toilet paper had seemed, somehow, American, with toilet paper jokes a staple in bathroom humor and “TP-ing” a stereotypical rite of passage for teens. And little is more American than the Charmin bear, an industry emblem that already dominates aisles of supermarkets. So, “getting consumers to do something different, they have to undo all those brand associations (with toilet paper) and all those habits they have,” Derek Rucker, a marketing professor at Kellogg School of Management told CNN. Rucker said the bidet industry would need to become a social norm in the US, such as being built into more new home constructions. Many bidet users in the US were converted after visiting societies where bidet use is widespread. Mikaela Koelzer, in Chicago, visited Japan the summer before the pandemic and was awestruck by the variety of bidet settings in even the most hole-in-the-wall restaurants. Then the pandemic hit, and Koelzer had “nothing but time” to find “pockets of joy” in her day. With the toilet paper mania, she decided to kill two birds with one stone and splurge on a Tushy. “It moreso was just about nurturing myself and feeling like I was doing something good for myself in a way that I could control, because everything else was just so out of control,” Koelzer said. Though Koelzer has a basic Tushy, her parents are now looking into a more state-of-the-art one that has temperature controls, she says. Two of her friends are now “proud bidet owners.”",CNN,24/03/2024,"['Bring up installing a bidet to the average American before the pandemic, and they might have likely flushed the idea straightaway.', 'The bathroom washer business, once a foreign concept to many in the US, experienced a huge boom during the Covid-19 pandemic, when shoppers were battling over toilet paper shortages.', 'But while some products or industries saw a boom during Covid that later came back down to earth –- say, masks, roller skates, pet adoptions, Zoom subscriptions, Peloton bikes -–bidets made a big splash and have managed to maintain sales growth.', 'Bidets and their product cousins – washlets, “bum guns” and other water-based alternatives to toilet paper – are universal in most parts of the world; bidet enthusiasts tout how the devices are more sustainable, clean, and less abrasive.', 'But Americans just can’t seem to let go of the Charmin Bear.', 'It took a toilet paper shortage for some to come around to the 18th-century invention.', 'During the pandemic, every single bidet sold out at bidetking.com, and the business grew exponentially, bidetking.com founder James Lin said.', 'The site faced a massive supply crunch, and it had to air freight costly containers to meet demands.', 'Lin described shipments of products from abroad by water completely selling out before they even hit the warehouse.', 'By some estimates, the entire bidet market grew two to three times during 2020.', 'Tushy, which makes a trendy bidet seat attachment, pulled in a revenue of $40 million in 2020 versus $8 million in 2019, founder Miki Agrawal said to CNN.', 'Americans are still intrigued by the bidet.', 'Bidetking.com reports sales have grown a minimum of 20% each year since the pandemic, with 2023 closer to 30%.', 'A dizzying array of bidet options confront the burgeoning American consumer.', 'Big spenders can find luxury options to give their porcelain throne the royal treatment.', 'Japanese electronic bidet seat maker Toto sells a “washlet” for as much as $1,420 on bidetking.com, equipped with a water heating system (that heats the toilet seat and the jet streams of water that clean the user’s backside), a wireless remote control (with multiple spray settings) and a hands-free dryer.', 'Tushy, defined by its whimsical marketing, sells a popular bidet attachment starting at $99.', 'Few people buy a bidet every year, so much of the growth is coming from new customers.', 'Often, bidet sales spread just through word of mouth.', 'Once one person is converted to the new method of bathroom sanitation, they want their friends and family to join the club.', 'And many of those customers often become entrenched rather than transient.', 'Some customers who start with more basic washer attachments are now upgrading to electronic models that have different temperature and pressure settings.', 'The most popular type of bidet in the US, Lin said, is a non-electric attachment that only sprays cold water, found for less than $50 on sites like Amazon.', 'Others have found an even cheaper alternative.', 'Joe from Michigan, who did not want to be identified by his last name, says he grabbed a bidet attached to a toilet being discarded on the side of the street, and purchased an adapter hose to fit it into his home (after sanitizing it).', '“Gosh, I wish I would have known about it sooner,” Joe told CNN.', 'The idea to use flowing water – rather than harder objects, whether leaves or paper – to clean one’s underside may be as old as human existence.', 'The bidet originated in France, used by aristocrats as a separate piece of furniture next to the chamber pot.', 'Variations of the bidet are ubiquitous in a large swath of Europe to the Middle East, East Asia and some South American countries.', 'During the booming electronics era, the Japanese brand Toto revolutionized the washlet in 1980 with a toilet seat attachment that uses warm water to cleanse.', 'The devices have proliferated to homes and businesses around Japan and beyond.', 'A common reason why bidets aren’t used in the US is that during World War 2, American soldiers saw brothels utilizing bidets.', 'When they came back to United States, they shunned the bidet because of the connotations.', 'Plus, the construction boom that took place in the post-war years built plumbing systems without bidets. (', 'Japanese washlets and other devices, however, connect to existing toilets and don’t require separate plumbing like French-style bidets.)', 'The foreignness of bidets stuck.', 'Some of the new bidet users CNN interviewed said they had associated the object with places like Europe or Japan, or something found in fancy hotels.', 'When Joe and his wife lived in Spain, he initially didn’t even know what the unattached bidet in their apartment bathroom was used for.', 'Agrawal, the Tushy founder, said she was drawn to the bidet business because it was a standard practice she grew up in with an Indian father and Japanese mother.', 'Of course, for many, water-based cleanliness has long been entrenched in their culture, going back centuries.', 'For example, for practicing Muslims, the Islamic jurisprudence lays out strict guidelines on washing oneself.', 'Many Asian and Middle Eastern countries utilize “bum guns,” or low-cost handheld sprayers attached by a hose to the side of the toilet, or jugs that look like watering cans.', 'Eyad Atieh, a resident physician in Illinois, spent part of his childhood and adolesence in Jordan, where every house had a bidet installed.', 'In his medical training, he learned the bidet’s health benefits, especially for those who suffer from hemorrhoids and hernias.', '“A big part of our culture is using water to clean, otherwise you can’t pray, you can’t be considered clean Islamically,” Atieh said.', 'When the great toilet paper shortage hit in 2020, many Americans realized there could be another way to clean themselves.', 'Environmental concerns around trees, paper and waste perhaps also played a role.', 'Using toilet paper had seemed, somehow, American, with toilet paper jokes a staple in bathroom humor and “TP-ing” a stereotypical rite of passage for teens.', 'And little is more American than the Charmin bear, an industry emblem that already dominates aisles of supermarkets.', 'So, “getting consumers to do something different, they have to undo all those brand associations (with toilet paper) and all those habits they have,” Derek Rucker, a marketing professor at Kellogg School of Management told CNN.', 'Rucker said the bidet industry would need to become a social norm in the US, such as being built into more new home constructions.', 'Many bidet users in the US were converted after visiting societies where bidet use is widespread.', 'Mikaela Koelzer, in Chicago, visited Japan the summer before the pandemic and was awestruck by the variety of bidet settings in even the most hole-in-the-wall restaurants.', 'Then the pandemic hit, and Koelzer had “nothing but time” to find “pockets of joy” in her day.', 'With the toilet paper mania, she decided to kill two birds with one stone and splurge on a Tushy.', '“It moreso was just about nurturing myself and feeling like I was doing something good for myself in a way that I could control, because everything else was just so out of control,” Koelzer said.', 'Though Koelzer has a basic Tushy, her parents are now looking into a more state-of-the-art one that has temperature controls, she says.', 'Two of her friends are now “proud bidet owners.”']",0.14494055104381418,"“It moreso was just about nurturing myself and feeling like I was doing something good for myself in a way that I could control, because everything else was just so out of control,” Koelzer said.","With the toilet paper mania, she decided to kill two birds with one stone and splurge on a Tushy." FAA says future United projects ‘may be delayed’ due to increased oversight,https://edition.cnn.com/2024/03/23/business/united-airlines-faa-oversight/index.html," Published 6:20 PM EDT, Sat March 23, 2024 ","The Federal Aviation Administration warned Saturday its increased oversight of United Airlines — after a string of nearly a dozen incidents on flights this month — may mean the troubled airline will have to put some of its future plans on hold. “Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “Certification activities in process may be allowed to continue, but future projects may be delayed based on findings from oversight.” The FAA also said it would initiate an evaluation of the company’s safety management and compliance. The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon, missing an external panel on March 15. While no passengers were injured, the incident was just one in a line of recent mishaps on United flights — all involving Boeing jets. In just the last month, another United Boeing plane spewed flames from an engine after taking off, one slid off the runway, one lost a wheel during takeoff and another trailed hydraulic fluid. The FAA did not specify what future projects may be delayed by its evaluation, but on Saturday, Bloomberg reported the agency is considering preventing United Airlines from adding new routes, curbing the airline’s growth. In a Friday memo, United told employees they would start seeing “more of an FAA presence in our operation as they begin to review some of our work processes, manuals and facilities.” United said the FAA’s review would mean an “even closer look at multiple areas of our operation to ensure we are doing all we can to promote and drive safety compliance.” United’s troubles come at a time of heightened safety concerns around Boeing, the manufacturer of most of the airline’s jets. The most notable mishap on a Boeing jet this year occurred on January 5, when an Alaska Airlines Boeing 737 Max 9 plane lost a door midflight, leaving a gaping hole in the side of the plane. Last week, a LATAM Airlines Boeing plane flying from Sydney, Australia, to Auckland, New Zealand, suddenly plunged in midair, injuring some passengers as they were thrown to the cabin’s ceiling. CNN’s Gregory Wallace, Chris Isidore and Pete Muntean contributed to this report.",CNN,23/03/2024,"['The Federal Aviation Administration warned Saturday its increased oversight of United Airlines — after a string of nearly a dozen incidents on flights this month — may mean the troubled airline will have to put some of its future plans on hold.', '“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “', 'Certification activities in process may be allowed to continue, but future projects may be delayed based on findings from oversight.”', 'The FAA also said it would initiate an evaluation of the company’s safety management and compliance.', 'The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon,missing an external panel on March 15.', 'While no passengers were injured, the incident was just one in a line of recent mishaps on United flights — all involving Boeing jets.', 'In justthe last month, another United Boeing plane spewed flames from an engine after taking off, one slid off the runway, one lost a wheel during takeoff and another trailed hydraulic fluid.', 'The FAA did not specify what future projects may be delayed by its evaluation, but on Saturday, Bloomberg reported the agency is considering preventing United Airlines from adding new routes, curbing the airline’s growth.', 'In a Friday memo, United told employees they would start seeing “more of an FAA presence in our operation as they begin to review some of our work processes, manuals and facilities.”', 'United said the FAA’s review would mean an “even closer look at multiple areas of our operation to ensure we are doing all we can to promote and drive safety compliance.”', 'United’s troubles come at a time of heightened safety concerns around Boeing, the manufacturer of most of the airline’s jets.', 'The most notable mishap on a Boeing jet this year occurred on January 5, when an Alaska Airlines Boeing 737 Max 9 plane lost a door midflight, leaving a gaping hole in the side of the plane.', 'Last week, a LATAM Airlines Boeing plane flying from Sydney, Australia, to Auckland, New Zealand, suddenly plunged in midair, injuring some passengers as they were thrown to the cabin’s ceiling.', 'CNN’s Gregory Wallace, Chris Isidore and Pete Muntean contributed to this report.']",0.22580314783022667,"“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “","Certification activities in process may be allowed to continue, but future projects may be delayed based on findings from oversight.”" Boeing CEO Dave Calhoun to step down in wake of ongoing safety problems,https://edition.cnn.com/2024/03/25/business/boeing-ceo-calhoun-leaving/index.html," Updated 2:04 PM EDT, Mon March 25, 2024 ","Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership. Boeing’s chairman and the head of the commercial airplane unit are also leaving. Boeing’s chairman, Larry Kellner, will not stand for re-election as a board director. The board has elected former Qualcomm CEO Steve Mollenkopf to succeed him. The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. Stephanie Pope, Boeing’s chief operating officer since January, is taking his place effective immediately. Boeing has been buffeted by more than five years of problems with its airplanes, including two fatal crashes of the 737 Max in 2018 and 2019 that killed 346 people, and most recently a door plug that blew out of the side of an Alaska Airlines 737 Max in January, leaving a gaping hole in the side of the plane. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses. In a letter to Boeing employees Monday, Calhoun called the Alaska Airlines incident “a watershed moment for Boeing.” “The eyes of the world are on us,” he said in announcing his departure plans. “We are going to fix what isn’t working, and we are going to get our company back on the track towards recovery and stability.” The decision to leave was “100%” his choice, Calhoun said in an interview on CNBC Monday morning. But Calhoun has become the focus of many who are critical of the way Boeing has been run in recent decades and the string of safety and quality issues. “He’s the very best CEO that Airbus has ever had,” said Richard Aboulafia, managing director at AeroDynamic Advisory and a leading aerospace analyst, recently referring to the advantages gained by Boeing’s main rival during his tenure running Boeing. His departure also comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes. CEOs of numerous airlines had asked to speak directly to the Boeing board last week, which Calhoun tried to characterize Monday as a normal process, even if it’s rare for customers to speak directly to directors. As to why Calhoun decided to stay on through the end of the year rather than leave immediately, he told CNBC: “We have another mountain to climb. Let’s not avoid what happened with Alaska Air. Let’s not avoid the call for action. Let’s not avoid the changes that we need to make in our factories.” “We will get through that,” he said. “I’ve committed myself to the board to do exactly that.” The airlines are upset both by the quality of the planes they are getting from Boeing, and the fact that Boeing won’t be able to deliver the planes they were counting on this year, as passenger demand continues to surge to record levels. Michael O’Leary, CEO of Ryanair, Europe’s largest airline and one that flies only Boeing 737 planes, told CNN last week that whenever it takes deliveries of Boeing jets “we spend 48 hours going through the plane checking it for errors, omissions or anything else.” And O’Leary said while it hasn’t found anything major in those checks, it regularly finds minor problems such as tools under floorboards and missing seat handles, that “shows, I think, a lack of attention to detail quality issues in Boeing.” Ryanair issued a statement Monday saying, “We welcome these much-needed management changes in Seattle.” United Airlines, which flies Boeing jets for more than 80% of its mainline fleet, has expressed disappointment in quality issues at Boeing and a delay in its scheduled deliveries. The airline is a primary customer for a stretched version of the Boeing 737 Max, known as the Max 10, but Boeing’s inability to get the plane certified to carry passengers is also causing headaches. Scott Kirby, CEO of United, described the Alaska Airlines incident as the “straw that broke the camel’s back” for its plans to get the Max 10 this year, as planned, and it is now looking at possibly buying jets from Boeing rival Airbus to take the place of the Max 10s it has ordered. But it is difficult for airlines to shift to Airbus, which has a long backlog of jets it has already committed to build for its existing customer base. Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered. And operating two types of aircraft of the same class is costly, since pilots are certified to fly specific aircraft, and most cannot shift back and forth between an Airbus and a Boeing without training. And the airline needs to keep a supply of expensive spare parts on hand for every type of aircraft it operates. Alaska Airlines CEO Ben Minicucci estimated recently it cost his airline $75 million to $100 million a year to operate both Airbus and Boeing single-aisle jets after it merged with Virgin America, which is why it got rid of its Airbus jets after the merger was complete. And Alaska is a smaller national airline, only America’s fifth largest. Larger airlines face even greater costs from splitting fleets between manufacturers. The Boeing 737 Max 9 was grounded for three weeks after the Alaska Airlines incident as airlines completed inspections of their own planes’ door plugs. Minicucci disclosed that many of his planes were discovered to have loose bolts, although he did not mention missing bolts. An audit of Boeing procedures by the Federal Aviation Administration in the wake of the Alaska Airlines incident found numerous “non-compliance issues.” The agency gave the company 90 days to come up with a plan to fix its safety and quality issues. But the probes at Boeing aren’t limited to the FAA audit. A preliminary investigation found that the plane left the Boeing factory in October without the four bolts needed to keep the door plug in place. While the NTSB has not identified who is at fault for the missing bolts, NTSB Chair Jennifer Homendy criticized Boeing for not providing the agency with the documentation for who handled the installation of the door plug. Calhoun told investors in January after the incident that “we caused the problem, and we understand that. Whatever conclusions are reached, Boeing is accountable for what happened.” And Boeing is also facing an investigation by the Justice Department, which could open it up to criminal liability, and upend a controversial deferred prosecution agreement the company reached in January 2021 to settle charges it defrauded the FAA during the original certification process for the 737 Max last decade. It was days away from having that probation-like period end when the Alaska Air incident happened. The company has also had problems not related to the Max during Calhoun’s time in charge at Boeing, including a couple of halts in deliveries of the 787 Dreamliners, one of its main widebody jets, due to quality issues with that plane. Calhoun, 66, a longtime board member at Boeing, became chairman of the company in late 2019, when the board stripped his predecessor Dennis Muilenburg of that title. He was tapped as CEO after Muilenburg was ousted in December of that year, starting in the job in January 2020. Boeing was once known as a company that put engineering excellence ahead of financial performance, and produced planes that were the gold standard in the industry. Critics of the company say that focus has changed in the last 25 years, citing the 1997 merger with competitor McDonell Douglas for the shift in focus on saving money. Calhoun is one of the executives since that time with no engineering background, having served as senior managing director and head of portfolio operations at investing firm The Blackstone Group, as well as CEO of Nielsen after 26 years at General Electric. Calhoun’s tenure began about halfway through a 20-month grounding of the 737 Max due to a design flaw that was determined to have caused the two crashes; and just before the Covid pandemic broke out globally, causing a near halt in air travel and massive losses for the airlines Boeing depends upon to buy its planes. Asked about what he would like to see in his successor, Calhoun told CNBC Monday that “I want somebody who knows how to handle a big, long, long-cycle business like ours. It’s not just the production of the airplane. It’s the development of the next airplane. It will be a $50 billion investment. I would like somebody who clearly has the experience inside our industry.” Shares of Boeing, which have lost more than 26% of their value since the start of the year, were 4% higher at the market open Monday, but they soon lost most of that gain and closed slightly above 1%. CNN’s Allison Morrow contributed to this report.",CNN,25/03/2024,"['Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership.', 'Boeing’s chairman and the head of the commercial airplane unit are also leaving.', 'Boeing’s chairman, Larry Kellner, will not stand for re-election as a board director.', 'The board has elected former Qualcomm CEO Steve Mollenkopf to succeed him.', 'The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring.', 'Stephanie Pope, Boeing’s chief operating officer since January, is taking his place effective immediately.', 'Boeing has been buffeted by more than five years of problems with its airplanes, including two fatal crashes of the 737 Max in 2018 and 2019 that killed 346 people, and most recently a door plug that blew out of the side of an Alaska Airlines 737 Max in January, leaving a gaping hole in the side of the plane.', 'The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses.', 'In a letter to Boeing employees Monday, Calhoun called the Alaska Airlines incident “a watershed moment for Boeing.”', '“The eyes of the world are on us,” he said in announcing his departure plans. “', 'We are going to fix what isn’t working, and we are going to get our company back on the track towards recovery and stability.”', 'The decision to leave was “100%” his choice, Calhoun said in an interview on CNBC Monday morning.', 'But Calhoun has become the focus of many who are critical of the way Boeing has been run in recent decades and the string of safety and quality issues.', '“He’s the very best CEO that Airbus has ever had,” said Richard Aboulafia, managing director at AeroDynamic Advisory and a leading aerospace analyst, recently referring to the advantages gained by Boeing’s main rival during his tenure running Boeing.', 'His departure also comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes.', 'CEOs of numerous airlines had asked to speak directly to the Boeing board last week, which Calhoun tried to characterize Monday as a normal process, even if it’s rare for customers to speak directly to directors.', 'As to why Calhoun decided to stay on through the end of the year rather than leave immediately, he told CNBC: “We have another mountain to climb.', 'Let’s not avoid what happened with Alaska Air.', 'Let’s not avoid the call for action.', 'Let’s not avoid the changes that we need to make in our factories.”', '“We will get through that,” he said. “', 'I’ve committed myself to the board to do exactly that.”', 'The airlines are upset both by the quality of the planes they are getting from Boeing, and the fact that Boeing won’t be able to deliver the planes they were counting on this year, as passenger demand continues to surge to record levels.', 'Michael O’Leary, CEO of Ryanair, Europe’s largest airline and one that flies only Boeing 737 planes, told CNN last week that whenever it takes deliveries of Boeing jets “we spend 48 hours going through the plane checking it for errors, omissions or anything else.”', 'And O’Leary said while it hasn’t found anything major in those checks, it regularly finds minor problems such as tools under floorboards and missing seat handles, that “shows, I think, a lack of attention to detail quality issues in Boeing.”', 'Ryanair issued a statement Monday saying, “We welcome these much-needed management changes in Seattle.”', 'United Airlines, which flies Boeing jets for more than 80% of its mainline fleet, has expressed disappointment in quality issues at Boeing and a delay in its scheduled deliveries.', 'The airline is a primary customer for a stretched version of the Boeing 737 Max, known as the Max 10, but Boeing’s inability to get the plane certified to carry passengers is also causing headaches.', 'Scott Kirby, CEO of United, described the Alaska Airlines incident as the “straw that broke the camel’s back” for its plans to get the Max 10 this year, as planned, and it is now looking at possibly buying jets from Boeing rival Airbus to take the place of the Max 10s it has ordered.', 'But it is difficult for airlines to shift to Airbus, which has a long backlog of jets it has already committed to build for its existing customer base.', 'Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered.', 'And operating two types of aircraft of the same class is costly, since pilots are certified to fly specific aircraft, and most cannot shift back and forth between an Airbus and a Boeing without training.', 'And the airline needs to keep a supply of expensive spare parts on hand for every type of aircraft it operates.', 'Alaska Airlines CEO Ben Minicucci estimated recently it cost his airline $75 million to $100 million a year to operate both Airbus and Boeing single-aisle jets after it merged with Virgin America, which is why it got rid of its Airbus jets after the merger was complete.', 'And Alaska is a smaller national airline, only America’s fifth largest.', 'Larger airlines face even greater costs from splitting fleets between manufacturers.', 'The Boeing 737 Max 9 was grounded for three weeks after the Alaska Airlines incident as airlines completed inspections of their own planes’ door plugs.', 'Minicucci disclosed that many of his planes were discovered to have loose bolts, although he did not mention missing bolts.', 'An audit of Boeing procedures by the Federal Aviation Administration in the wake of the Alaska Airlines incident found numerous “non-compliance issues.”', 'The agency gave the company 90 days to come up with a plan to fix its safety and quality issues.', 'But the probes at Boeing aren’t limited to the FAA audit.', 'A preliminary investigation found that the plane left the Boeing factory in October without the four bolts needed to keep the door plug in place.', 'While the NTSB has not identified who is at fault for the missing bolts, NTSB Chair Jennifer Homendy criticized Boeing for not providing the agency with the documentation for who handled the installation of the door plug.', 'Calhoun told investors in January after the incident that “we caused the problem, and we understand that.', 'Whatever conclusions are reached, Boeing is accountable for what happened.”', 'And Boeing is also facing an investigation by the Justice Department, which could open it up to criminal liability, and upend a controversial deferred prosecution agreement the company reached in January 2021 to settle charges it defrauded the FAA during the original certification process for the 737 Max last decade.', 'It was days away from having that probation-like period end when the Alaska Air incident happened.', 'The company has also had problems not related to the Max during Calhoun’s time in charge at Boeing, including a couple of halts in deliveries of the 787 Dreamliners, one of its main widebody jets, due to quality issues with that plane.', 'Calhoun, 66, a longtime board member at Boeing, became chairman of the company in late 2019, when the board stripped his predecessor Dennis Muilenburg of that title.', 'He was tapped as CEO after Muilenburg was ousted in December of that year, starting in the job in January 2020.', 'Boeing was once known as a company that put engineering excellence ahead of financial performance, and produced planes that were the gold standard in the industry.', 'Critics of the company say that focus has changed in the last 25 years, citing the 1997 merger with competitor McDonell Douglas for the shift in focus on saving money.', 'Calhoun is one of the executives since that time with no engineering background, having served as senior managing director and head of portfolio operations at investing firm The Blackstone Group, as well as CEO of Nielsen after 26 years at General Electric.', 'Calhoun’s tenure began about halfway through a 20-month grounding of the 737 Max due to a design flaw that was determined to have caused the two crashes; and just before the Covid pandemic broke out globally, causing a near halt in air travel and massive losses for the airlines Boeing depends upon to buy its planes.', 'Asked about what he would like to see in his successor, Calhoun told CNBC Monday that “I want somebody who knows how to handle a big, long, long-cycle business like ours.', 'It’s not just the production of the airplane.', 'It’s the development of the next airplane.', 'It will be a $50 billion investment.', 'I would like somebody who clearly has the experience inside our industry.”', 'Shares of Boeing, which have lost more than 26% of their value since the start of the year, were 4% higher at the market open Monday, but they soon lost most of that gain and closed slightly above 1%.', 'CNN’s Allison Morrow contributed to this report.']",-0.0028371724018646026,"“He’s the very best CEO that Airbus has ever had,” said Richard Aboulafia, managing director at AeroDynamic Advisory and a leading aerospace analyst, recently referring to the advantages gained by Boeing’s main rival during his tenure running Boeing.","Boeing has been buffeted by more than five years of problems with its airplanes, including two fatal crashes of the 737 Max in 2018 and 2019 that killed 346 people, and most recently a door plug that blew out of the side of an Alaska Airlines 737 Max in January, leaving a gaping hole in the side of the plane." This social app prohibits edited photos to encourage users to be more authentic. It’s growing fast,https://edition.cnn.com/2022/04/21/business/bereal-social-media-app-cec/index.html," Updated 9:17 AM EDT, Thu April 21, 2022 ","Scoot over, Facebook and Instagram. There’s a newer photo-sharing app – and it’s not like other social media platforms. The app is called BeReal. And while you may not have heard of it, a lot of young people are signing up. Its active monthly users have skyrocketed this year by more than 315%, according to data from Apptopia, which tracks and analyzes performance. We joined the app and talked to users to get a deeper understanding of how BeReal works and what you need to know about it. BeReal is a social media app that encourages users to share a slice of their life in real time. It was launched in early 2020 by an entrepreneur in France but a majority of its users – at least 65% – have signed up this calendar year. As its name suggests, the focus is on authenticity. Users are invited once a day to share a photo of what they’re doing at that moment, giving friends and others an unvarnished glimpse into their life. It has no filters and no edit buttons. So if your hair is a mess at that moment and your view is of a rainy parking lot, that’s what people will see. The result is a far cry from the polished, overly curated photos popular on other social media platforms. The concept of BeReal is simple. Once you download the app, you get a notification once a day that it’s time to “BeReal.” That means you have two minutes to snap and post a photo of what you’re doing, no matter how mundane. There’s no set time – the notification comes at random times of the day – adding to the app’s mystique. “Push notifications are sent around the world simultaneously at different times each day,” the company said in a statement. “It’s a secret on how the time is chosen every day, it’s not random.” That means the potential window into your life can open at any time. When it does, the app invites you to take a photo of what you’re up to at that moment. It takes a dual photo – a selfie and one showing what’s in front of you. (BeReal doesn’t permit videos yet.) The result is a social feed filled with unedited photos of people doing mostly everyday, unglamorous things – lounging in pajamas, doing homework, riding the bus, microwaving their dinner. With only one post a day, there’s no clutter of friends’ pictures to mindlessly scroll through. You can only see friends’ posts if you share a photo, which eliminates lurkers. Some people turn off their location for privacy reasons, since the app works in real time. Georgetown University student Ben Telerski, 21, is an avid social media user and joined the app in August. “What I like about BeReal is I am able to make connections with my friends via social media on a platform that does not incentivize likes, comments, or being artificial. … solely showing your friends what you are doing at the moment that the daily alert goes off,” says Telerski, a junior majoring in government. Telerski says the posts he sees on the app are generally more authentic compared to other social media platforms. “I try to post as soon as I see the notification, even if I am just sitting in bed or walking to class,” he says. “I think the amount of authenticity depends on the persona each person creates on social media. If someone tries to keep their social media presence highly polished and produced, BeReal is not the app to use.” When you click on the once-a-day BeReal notification, your camera opens within the app along with a timer with a two-minute countdown. You have until the timer runs out to take a picture of what’s in front of you. At the same time, your rear-facing camera snaps a selfie. The app will share both images. You can retake them anytime during the two minutes and share them with friends when you’re ready. BeReal also allows users to take and post the photo later in the day. But it lets your friends know how many hours past the notification that you posted. In short, it puts you on blast for your lack of spontaneity. BeReal has tapped into marketing on college campuses. It recruits young users via its college ambassador program, which allows students to host events that educate others about the app. Telerski believes the app is popular because it’s an antidote to the pressures to look perfect online. “I have seen a lot of news coverage lately about the negative mental health impacts that social media has on Gen Z. I do not know if BeReal is directly attempting to combat this problem, but it is certainly making some ground toward that goal,” he says. Morgan Nott, 26, manages a tea shop in Reno and is a newbie on the app. She started using it last week at a friend’s suggestion. Nott says she finds it refreshing to get a non-airbrushed, non-idealized glimpse into other people’s lives. “It’s the authenticity of it that makes it so appealing. Users aren’t as glamorized or fake as some can portray themselves on other platforms,” she says. “It’s something different.” In a statement, BeReal says its goal is to create “an alternative to addictive social networks” that focus on amassing influence, it says. “BeReal is your chance to show your friends who you really are,” the company says. “BeReal won’t make you famous, if you want to become an influencer you can stay on TikTok and Instagram.” The app doesn’t give you much time to put on makeup or stage your surroundings before you snap and post photos. But some users may still try to curate their lives on the app. “There is the potential to be just as artificial on BeReal as people tend to be on other platforms,” Telerski says. Some people might ignore the notification to post at a certain time and wait to post until they are dressed up and out at dinner with friends, he says. “It is not in the spirit of BeReal and entirely defeats the purpose,” he says. “BeReal should be full of pictures of (people) walking, doing homework and sitting in bed watching Netflix.” The young people CNN spoke to have no plans to give up Instagram, TikTok and other social media apps. Nott says she plans to keep letting her guard down on BeReal – and to keep posting on other social media platforms as well. Telerski says he tries to maintain a certain level of authenticity on social media regardless of the platform. Authenticity is determined by a person, not an app, he says. “For those who think we need a new social media app in order to be truly authentic, maybe we should take that as a sign to be more authentic throughout our existing social media presence,” he says. “Think about what social media was originally intended for – real connection through family and friends keeping up with your life. Maybe we should get back to that.”",CNN,21/04/2022,"['Scoot over, Facebook and Instagram.', 'There’s a newer photo-sharing app – and it’s not like other social media platforms.', 'The app is called BeReal.', 'And while you may not have heard of it, a lot of young people are signing up.', 'Its active monthly users have skyrocketed this year by more than 315%, according to data from Apptopia, which tracks and analyzes performance.', 'We joined the app and talked to users to get a deeper understanding of how BeReal works and what you need to know about it.', 'BeReal is a social media app that encourages users to share a slice of their life in real time.', 'It was launched in early 2020 by an entrepreneur in France but a majority of its users – at least 65% – have signed up this calendar year.', 'As its name suggests, the focus is on authenticity.', 'Users are invited once a day to share a photo of what they’re doing at that moment, giving friends and others an unvarnished glimpse into their life.', 'It has no filters and no edit buttons.', 'So if your hair is a mess at that moment and your view is of a rainy parking lot, that’s what people will see.', 'The result is a far cry from the polished, overly curated photos popular on other social media platforms.', 'The concept of BeReal is simple.', 'Once you download the app, you get a notification once a day that it’s time to “BeReal.”', 'That means you have two minutes to snap and post a photo of what you’re doing, no matter how mundane.', 'There’s no set time – the notification comes at random times of the day – adding to the app’s mystique.', '“Push notifications are sent around the world simultaneously at different times each day,” the company said in a statement. “', 'It’s a secret on how the time is chosen every day, it’s not random.”', 'That means the potential window into your life can open at any time.', 'When it does, the app invites you to take a photo of what you’re up to at that moment.', 'It takes a dual photo – a selfie and one showing what’s in front of you. (', 'BeReal doesn’t permit videos yet.)', 'The result is a social feed filled with unedited photos of people doing mostly everyday, unglamorous things – lounging in pajamas, doing homework, riding the bus, microwaving their dinner.', 'With only one post a day, there’s no clutter of friends’ pictures to mindlessly scroll through.', 'You can only see friends’ posts if you share a photo, which eliminates lurkers.', 'Some people turn off their location for privacy reasons, since the app works in real time.', 'Georgetown University student Ben Telerski, 21, is an avid social media user and joined the app in August.', '“What I like about BeReal is I am able to make connections with my friends via social media on a platform that does not incentivize likes, comments, or being artificial. …', 'solely showing your friends what you are doing at the moment that the daily alert goes off,” says Telerski, a junior majoring in government.', 'Telerski says the posts he sees on the app are generally more authentic compared to other social media platforms.', '“I try to post as soon as I see the notification, even if I am just sitting in bed or walking to class,” he says. “', 'I think the amount of authenticity depends on the persona each person creates on social media.', 'If someone tries to keep their social media presence highly polished and produced, BeReal is not the app to use.”', 'When you click on the once-a-day BeReal notification, your camera opens within the app along with a timer with a two-minute countdown.', 'You have until the timer runs out to take a picture of what’s in front of you.', 'At the same time, your rear-facing camera snaps a selfie.', 'The app will share both images.', 'You can retake them anytime during the two minutes and share them with friends when you’re ready.', 'BeReal also allows users to take and post the photo later in the day.', 'But it lets your friends know how many hours past the notification that you posted.', 'In short, it puts you on blast for your lack of spontaneity.', 'BeReal has tapped into marketing on college campuses.', 'It recruits young users via its college ambassador program, which allows students to host events that educate others about the app.', 'Telerski believes the app is popular because it’s an antidote to the pressures to look perfect online.', '“I have seen a lot of news coverage lately about the negative mental health impacts that social media has on Gen Z. I do not know if BeReal is directly attempting to combat this problem, but it is certainly making some ground toward that goal,” he says.', 'Morgan Nott, 26, manages a tea shop in Reno and is a newbie on the app.', 'She started using it last week at a friend’s suggestion.', 'Nott says she finds it refreshing to get a non-airbrushed, non-idealized glimpse into other people’s lives.', '“It’s the authenticity of it that makes it so appealing.', 'Users aren’t as glamorized or fake as some can portray themselves on other platforms,” she says. “', 'It’s something different.”', 'In a statement, BeReal says its goal is to create “an alternative to addictive social networks” that focus on amassing influence, it says.', '“BeReal is your chance to show your friends who you really are,” the company says. “', 'BeReal won’t make you famous, if you want to become an influencer you can stay on TikTok and Instagram.”', 'The app doesn’t give you much time to put on makeup or stage your surroundings before you snap and post photos.', 'But some users may still try to curate their lives on the app.', '“There is the potential to be just as artificial on BeReal as people tend to be on other platforms,” Telerski says.', 'Some people might ignore the notification to post at a certain time and wait to post until they are dressed up and out at dinner with friends, he says.', '“It is not in the spirit of BeReal and entirely defeats the purpose,” he says. “', 'BeReal should be full of pictures of (people) walking, doing homework and sitting in bed watching Netflix.”', 'The young people CNN spoke to have no plans to give up Instagram, TikTok and other social media apps.', 'Nott says she plans to keep letting her guard down on BeReal – and to keep posting on other social media platforms as well.', 'Telerski says he tries to maintain a certain level of authenticity on social media regardless of the platform.', 'Authenticity is determined by a person, not an app, he says.', '“For those who think we need a new social media app in order to be truly authentic, maybe we should take that as a sign to be more authentic throughout our existing social media presence,” he says.', '“Think about what social media was originally intended for – real connection through family and friends keeping up with your life.', 'Maybe we should get back to that.”']",0.12036650013581231,You can retake them anytime during the two minutes and share them with friends when you’re ready.,It has no filters and no edit buttons. Chick-fil-A will stop using its ‘no antibiotics ever’ label on chicken,https://edition.cnn.com/2024/03/25/business/chick-fil-a-antibiotics/index.html," Updated 10:11 AM EDT, Mon March 25, 2024 ","Chick-fil-A is ditching its “no antibiotics ever” promise. Citing diminishing chicken supply, Chick-fil-A will back off its pledge never to serve chicken that was fed antibiotics, and instead it will embrace a looser industry standard: “no antibiotics important to human medicine.” Chick-fil-A first announced that it would abandon antibiotics in 2014. The change comes after Tyson, America’s biggest poultry company, last summer ended its eight-year-pledge to keep antibiotics out of its chicken. Like Chick-fil-A, Tyson said it will ensure the chicken it produces is not fed antibiotics that are important to the treatment of humans — a standard recognized by the USDA and the World Health Organization. As for other meat processors, Pilgrim’s Pride says it uses some antibiotics, while Perdue still says it does not. Antibiotic use in food production has come under intense scrutiny in recent years as some bacterial infections in humans have become increasingly resistant to treatment as a result of more frequent exposure to the drugs. But diseases in chicken coops can be difficult to control, as poultry farmers learned the hard way when a highly infectious avian flu ravaged their flocks over the past couple years, sending prices of chicken and eggs surging before coming back down to Earth late last year. That particular disease is not treatable with antibiotics, but other diseases that can kill chickens do respond to antibiotics. In addition to chickens’ health, antibiotics are particularly important to promote poultry growth — particularly for items like large broiler chickens. Chick-fil-A said in its statement that the company remains committed to serving only white breast meat with no added hormones, artificial preservatives or fillers. It expects to transition to sourcing chicken fed with antibiotics this spring. About half of US poultry farmers use some form of antibiotics to help keep chickens healthy, according to Tyson. In many chicken farms, animals are raised in crowded and unsanitary conditions and can be prone to disease. In WHO’s most recent publication on the “important to human medicine” standard, the group said there remains “clear evidence of adverse human health consequences due to resistant organisms resulting from non-human usage of antimicrobials.” It also said that the types of drugs used to promote growth and health in animals is “frequently the same, or closely related to those used in human medicine.” With the understanding that antibiotic treatments at times could be important to meat production, WHO in 2007 developed a set of risk assessments that aimed to prevent important antibiotics for humans from being used in animal production. It noted in that 2007 publication that “an appropriate balance should be struck between animal health needs and human health considerations – human health being, however, paramount compared to animal health.”",CNN,25/03/2024,"['Chick-fil-A is ditching its “no antibiotics ever” promise.', 'Citing diminishing chicken supply, Chick-fil-A will back off its pledge never to serve chicken that was fed antibiotics, and instead it will embrace a looser industry standard: “no antibiotics important to human medicine.”', 'Chick-fil-A first announced that it would abandon antibiotics in 2014.', 'The change comes after Tyson, America’s biggest poultry company, last summer ended its eight-year-pledge to keep antibiotics out of its chicken.', 'Like Chick-fil-A, Tyson said it will ensure the chicken it produces is not fed antibiotics that are important to the treatment of humans — a standard recognized by the USDA and the World Health Organization.', 'As for other meat processors, Pilgrim’s Pride says it uses some antibiotics, while Perdue still says it does not.', 'Antibiotic use in food production has come under intense scrutiny in recent years as some bacterial infections in humans have becomeincreasingly resistantto treatment as a result of more frequent exposure to the drugs.', 'But diseases in chicken coops can be difficult to control, as poultry farmers learned the hard way when ahighly infectious avian fluravaged their flocksover the past couple years, sending prices of chicken and eggs surging before coming back down to Earth late last year.', 'That particular disease is not treatable with antibiotics, but other diseases that can kill chickens do respond to antibiotics.', 'In addition to chickens’ health, antibiotics are particularly important to promote poultry growth — particularly for items like large broiler chickens.', 'Chick-fil-A said in its statement that the company remains committed to serving only white breast meat with no added hormones, artificial preservatives or fillers.', 'It expects to transition to sourcing chicken fed with antibiotics this spring.', 'About half of US poultry farmers use some form of antibiotics to help keep chickens healthy, according to Tyson.', 'In many chicken farms, animals are raised in crowded and unsanitary conditions and can be prone to disease.', 'In WHO’s most recentpublicationon the “important to human medicine” standard, the group said there remains “clear evidence of adverse human health consequences due to resistant organisms resulting from non-human usage of antimicrobials.”', 'It also said that the types of drugs used to promote growth and health in animals is “frequently the same, or closely related to those used in human medicine.”', 'With the understanding that antibiotic treatments at times could be important to meat production, WHO in 2007 developed a set of risk assessments that aimed to prevent important antibiotics for humans from being used in animal production.', 'It noted in that2007 publicationthat “an appropriate balance should be struck between animal health needs and human health considerations – human health being, however, paramount compared to animal health.”']",0.09881482358743872,"In addition to chickens’ health, antibiotics are particularly important to promote poultry growth — particularly for items like large broiler chickens.","That particular disease is not treatable with antibiotics, but other diseases that can kill chickens do respond to antibiotics." 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." "Best mobile payment apps in 2024, tested by our editors",https://edition.cnn.com/cnn-underscored/reviews/best-mobile-payment-apps," Updated 4:04 PM EST, Tue January 9, 2024 ","Mobile payment apps can be a convenient way to send and receive money using your smartphone or smartwatch. Paying for items this way has never been easier, thanks to the availability of numerous mobile payment apps, better payment terminal infrastructure, and wider support for Bluetooth/near-field communication (NFC) contactless credit cards by American issuers. The coronavirus pandemic has also helped to make contactless “everything” more compelling, so being able to use our smartphones or smartwatches for mobile banking and payments is as appealing as ever. Over the course of several weeks, we tested out five different mobile payment apps: Apple Pay, Google Pay, Samsung Pay, Venmo (by PayPal) and Cash App (by Block, formerly Square). We tested Apple Pay and Samsung Pay on just their own devices and tested Google Pay, Venmo and Cash App on both Android and iOS. The apps work across a variety of web browsers (with the exception of Samsung) and watches. We tested the apps on an Apple Watch and a Samsung Galaxy Watch. We tested each of them with the following in mind: ease of installation, ease of setup, features, security, fees and customer support. As our testing concluded, two clear winners emerged: Apple Pay and Google Pay. While Apple Pay only works for its own devices, it is available in numerous countries, and its elegant and simple user interface (UI) and design make it a standout. Peer-to-peer (P2P) payments are only available in the United States. On your iOS device, you need to set up Face ID, Touch ID or a passcode. On your Apple Watch, you need to set up a passcode. You also need to be 13 years old or older. If you want to make a P2P payment, then you’ll need to send an Apple Message, which means you need to know your recipient’s phone number or email address. One nice feature is that all transactions generate 2% cash back. If you have an Apple Watch, then you need to connect your cards and bank accounts specifically on the watch for use in payments. Apple recently announced that users of other browsers besides Safari on their phones will be able to eventually use the software with the release of iOS 16. Google Pay has different lists of countries and regions in which it is available depending on the transaction type intended. Google Pay works across Android and iOS and is also designed to be capable in your browser. There aren’t any fees and immediate transfers are from debit cards only. Since Google Pay also works through browser cookies, it doesn’t require your phone to complete any online transactions. But, since it works through your Google account, you will have to exchange emails to set up the payment. Also, you will need a personal account (Pay won’t work with workspace or enterprise accounts). There are three different use cases for these apps (which we tested) that we will explain, as well as three other use cases that we will mention (even though we didn’t test these). The first use case we tested is making P2P cash payments. Two examples of this are splitting a restaurant check and sending gift money to family and friends. Consumers are increasingly using these apps according to a recent survey by Lending Tree. The survey showed that 84% of the 1,200 respondents (all U.S. consumers) have used at least one mobile payment app in the past year. Samsung Pay doesn’t support this mode but the other apps do. Some of the apps let you set up pools of funds, like a miniature version of GoFundMe to which your friends can send you contributions. There are several ways to identify your recipient: by their phone number and email address, or by their username (Block and Venmo support this) and, in some cases, by using a personal QR code (Block and Venmo are focused on this use case). The second use case we tested is paying for retail purchases instead of directly using a credit card or debit card. When the time comes to pay at a physical store, you hold your smartphone (or smartwatch) close to the payment terminal and it should read the appropriate card. This can be useful if you load multiple cards on the payment app, so you don’t have to cart around an overstuffed wallet with physical cards. It is also more secure because most of the payment apps create and then send a one-time token instead of your actual card number for each transaction. (Apple Pay and Google Pay are focused on this use case, although both also support P2P payments, too.) The third use case we tested is using them whenever you are shopping online. The Apple Pay and Google Pay apps can be used here. You can also store your card details in the various desktop browsers so that they can be auto-filled when you are at the checkout screen of your favorite retailer. So, now for the other use cases we didn’t test but are worth mentioning. Each of the payment apps has moved beyond these three core situations and now offer three other use cases: 1) a complex series of their own branded credit cards and debit cards, 2) support for Bitcoin purchases and other money-related features, and 3) cash-back offers. Again, we didn’t test these last three use cases; however, it is worth paying attention to at least the one about cash-back offers because those can really add up over time. Should you be worried about scammers when using mobile payment apps? Yes — the same Lending Tree survey we cited earlier found that 15% of the respondents have been victims of scams. And the survey also mentioned that, though P2P services are growing, they’re not FDIC insured (with the exception of Cash App, which is FDIC-insured). The survey found that “62% of consumers knew FDIC doesn’t insure P2P balances. However, 49% of those who keep a balance wrongly believe their money is protected.” If you intend to use any of these mobile payment apps on a regular basis, then you’ll want to follow these 6 steps: During our pretesting research, we found there are more than 20 different payment apps available, including apps from retailers like Starbucks and apps from Mastercard and Visa. We selected our five payment apps to test based on desired features, security options and user reviews. We tested each of them with the following criteria in mind: ease of installation, ease of setup, features, security, customer support and fees. To begin our testing, we installed the apps on one or both types of smartphones (if supported) and on an Apple Watch and Samsung Galaxy Watch. Next, we connected to various bank accounts and credit cards and debit cards, using them for retail purchases and P2P payments. We also tried each app when it was available for online retail purchases. We tested each app’s MFA support and other security features. We tested each app’s ability to notify you of payment transactions, and to block someone else from initiating a payment without your biometric data or other factors to approve it. Then we noted that the workflows for the payment apps were similar across the lot. We first ensured we were downloading the correct payment app from the legit app store. This is important and you should take care here. We then connected the app to either our phone number or email address (most apps want both), and then typed in a bank account or card that was to be the source and destination of our funds. This was the moment of truth, because not every payment app supported every bank card (and we didn’t find out until we got to this step). Apple Pay and Google Pay worked with more of our credit cards than the others did, but your experience could be different. After that, we set up our app’s security with our face or fingerprint to protect our transactions. It sounds more complicated than it actually was. After a flurry of confirmation emails and texts, we were ready to go shopping or send our friends some money. One of the big advantages of these apps is that you forgo the need to carry cash and you can pay someone on the spot. However, for all of these apps, our patience was rewarded. If we wanted to make a P2P payment and our recipient was willing to wait a few days, then there wasn’t any fee applied. But if we wanted the payment to happen in a matter of minutes, then it cost us. For example, all the apps were free to download. But when it came to fees, Apple charges 1.5% (with a minimum $0.25 and maximum $15 fee) and Venmo adds a 1% surcharge (with a maximum $10 fee). Square is free for all personal accounts but charges 2.75% for business users. Google Pay and Samsung Pay have no added fees. Lastly, we also reviewed complaints collected by CardPaymentOptions.com for Apple Pay, Google Pay, Samsung Pay, Cash App and Venmo. And we tried out the various support options available for each service. All five apps had equivalent high scores on both. Cash App, Samsung Pay and Venmo all share data with third parties to track internal marketing. Apple Pay and Google Pay don’t do this, although they may use this data internally across their various properties. During our testing, we used an Apple Watch and Samsung Galaxy Watch to gauge how easy it is to use a smartwatch versus a smartphone for mobile payments. So, is your smartwatch better to use than your phone for payments? No, we don’t think so. We found the watch movements needed to get close enough to the payment terminal to make a connection were more cumbersome than they were when we used our phone. And the usability factors to set up the account on the watches are sub-par. If you use your watch for other apps, then great, but don’t rush out and get a watch just for payments. Free at Cash App With Cash App, which is owned by Block (formerly Square, Inc.), you set up a username that your friends can use to find you when sending or demanding funds. You do not need to know their phone number or email address. Cash App is limited to debit cards only for direct access. It also uses Plaid for connecting to your bank account, which we think adds another layer of security issues. There are also various transfer limits, too, for unidentified users (e.g., sending $250 over per week or receiving $1,000 over a month). You can set up recurring deposits, direct deposits, make bank transfers and even file your taxes. There is a 3% fee if you are moving funds with a credit card. You can also instantly purchase or sell Bitcoin from the app. Cash App also works with the Lightning network to pay anyone with these cryptocurrencies. Free at Samsung Samsung Pay works in several countries, but it is only available on Samsung smartphones and smartwatches. It is basically a stripped-down version of Google Pay, using the same banking backends. It requires your mobile number to complete its setup, and in our testing we found it didn’t support several of the debit cards we owned. It also doesn’t support any P2P payments: you’ll need to use the separate Samsung Pay Cash app. One advantage is that, while Apple Pay and Google Pay will only work with point-of-sale (POS) payment terminals equipped with NFC technology, Samsung Pay (from the phone, not from the watch) works at magnetic card terminals — those few that are left and haven’t been upgraded — as well. We had trouble getting the Samsung Pay app to work with the Samsung Galaxy Watch (like Apple Pay, you have to separately install each card to use on the watch), and needed to install and re-install various Samsung apps. We recommend using Google Pay instead. Free at Venmo Venmo, which is only available in the United States, was simple to set up and get connected to our bank card. Like Cash App, you can send money using a username, which obviates the need to know a friend’s phone number or email address. One drawback to Venmo is that all of your friends’ transactions are made public by default, so anyone can see them in its public feed. This means the first thing you need to do when using this service is turn these settings to Private. Venmo also supports Bitcoin, Bitcoin Cash, Ethereum or Litecoin currency transactions. If you are sending funds from a credit card and can’t wait, then there is a 3% fee. Funds sent from your bank account are free if you can wait a few days. Fees are clearly described on their Resources page and there are fees for unverified users when sending more than $300 per week. Venmo’s browser client mirrors the UI for its phone app screens, which is useful for reviewing its numerous configuration settings. But it could do a better job explaining its security protocols.",CNN,09/01/2024,"['Mobile payment apps can be a convenient way to send and receive money using your smartphone or smartwatch.', 'Paying for items this way has never been easier, thanks to the availability of numerous mobile payment apps, better payment terminal infrastructure, and wider support for Bluetooth/near-field communication (NFC) contactless credit cards by American issuers.', 'The coronavirus pandemic has also helped to make contactless “everything” more compelling, so being able to use our smartphones or smartwatches for mobile banking and payments is as appealing as ever.', 'Over the course of several weeks, we tested out five different mobile payment apps: Apple Pay, Google Pay, Samsung Pay, Venmo (by PayPal) and Cash App (by Block, formerly Square).', 'We tested Apple Pay and Samsung Pay on just their own devices and tested Google Pay, Venmo and Cash App on both Android and iOS.', 'The apps work across a variety of web browsers (with the exception of Samsung) and watches.', 'We tested the apps on an Apple Watch and a Samsung Galaxy Watch.', 'We tested each of them with the following in mind: ease of installation, ease of setup, features, security, fees and customer support.', 'As our testing concluded, two clear winners emerged: Apple Pay and Google Pay.', 'While Apple Pay only works for its own devices, it is available in numerous countries, and its elegant and simple user interface (UI) and design make it a standout.', 'Peer-to-peer (P2P) payments are only available in the United States.', 'On your iOS device, you need to set up Face ID, Touch ID or a passcode.', 'On your Apple Watch, you need to set up a passcode.', 'You also need to be 13 years old or older.', 'If you want to make a P2P payment, then you’ll need to send an Apple Message, which means you need to know your recipient’s phone number or email address.', 'One nice feature is that all transactions generate 2% cash back.', 'If you have an Apple Watch, then you need to connect your cards and bank accounts specifically on the watch for use in payments.', 'Apple recently announced that users of other browsers besides Safarion their phones will be able to eventually use the software with the release of iOS 16.', 'Google Pay has different lists of countries and regions in which it is available depending on the transaction type intended.', 'Google Pay works across Android and iOS and is also designed to be capable in your browser.', 'There aren’t any fees and immediate transfers are from debit cards only.', 'Since Google Pay also works through browser cookies, it doesn’t require your phone to complete any online transactions.', 'But, since it works through your Google account, you will have to exchange emails to set up the payment.', 'Also, you will need a personal account (Pay won’t work with workspace or enterprise accounts).', 'There are three different use cases for these apps (which we tested) that we will explain, as well as three other use cases that we will mention (even though we didn’t test these).', 'The first use case we tested is making P2P cash payments.', 'Two examples of this are splitting a restaurant check and sending gift money to family and friends.', 'Consumers are increasingly using these apps according to a recent survey by Lending Tree.', 'The survey showed that 84% of the 1,200 respondents (all U.S. consumers) have used at least one mobile payment app in the past year.', 'Samsung Pay doesn’t support this mode but the other apps do.', 'Some of the apps let you set up pools of funds, like a miniature version of GoFundMe to which your friends can send you contributions.', 'There are several ways to identify your recipient: by their phone number and email address, or by their username (Block and Venmo support this) and, in some cases, by using a personal QR code (Block and Venmo are focused on this use case).', 'The second use case we tested is paying for retail purchases instead of directly using a credit card or debit card.', 'When the time comes to pay at a physical store, you hold your smartphone (or smartwatch) close to the payment terminal and it should read the appropriate card.', 'This can be useful if you load multiple cards on the payment app, so you don’t have to cart around an overstuffed wallet with physical cards.', 'It is also more secure because most of the payment apps create and then send a one-time token instead of your actual card number for each transaction. (', 'Apple Pay and Google Pay are focused on this use case, although both also support P2P payments, too.)', 'The third use case we tested is using them whenever you are shopping online.', 'The Apple Pay and Google Pay apps can be used here.', 'You can also store your card details in the various desktop browsers so that they can be auto-filled when you are at the checkout screen of your favorite retailer.', 'So, now for the other use cases we didn’t test but are worth mentioning.', 'Each of the payment apps has moved beyond these three core situations and now offer three other use cases: 1) a complex series of their own branded credit cards and debit cards, 2) support for Bitcoin purchases and other money-related features, and 3) cash-back offers.', 'Again, we didn’t test these last three use cases; however, it is worth paying attention to at least the one about cash-back offers because those can really add up over time.', 'Should you be worried about scammers when using mobile payment apps?', 'Yes — the same Lending Tree survey we cited earlier found that 15% of the respondents have been victims of scams.', 'And the survey also mentioned that, though P2P services are growing, they’re not FDIC insured (with the exception of Cash App, which is FDIC-insured).', 'The survey found that “62% of consumers knew FDIC doesn’t insure P2P balances.', 'However, 49% of those who keep a balance wrongly believe their money is protected.”', 'If you intend to use any of these mobile payment apps on a regular basis, then you’ll want to follow these 6 steps: During our pretesting research, we found there are more than 20 different payment apps available, including apps from retailers like Starbucks and apps from Mastercard and Visa.', 'We selected our five payment apps to test based on desired features, security options and user reviews.', 'We tested each of them with the following criteria in mind: ease of installation, ease of setup, features, security, customer support and fees.', 'To begin our testing, we installed the apps on one or both types of smartphones (if supported) and on an Apple Watch and Samsung Galaxy Watch.', 'Next, we connected to various bank accounts and credit cards and debit cards, using them for retail purchases and P2P payments.', 'We also tried each app when it was available for online retail purchases.', 'We tested each app’s MFA support and other security features.', 'We tested each app’s ability to notify you of payment transactions, and to block someone else from initiating a payment without your biometric data or other factors to approve it.', 'Then we noted that the workflows for the payment apps were similar across the lot.', 'We first ensured we were downloading the correct payment app from the legit app store.', 'This is important and you should take care here.', 'We then connected the app to either our phone number or email address (most apps want both), and then typed in a bank account or card that was to be the source and destination of our funds.', 'This was the moment of truth, because not every payment app supported every bank card (and we didn’t find out until we got to this step).', 'Apple Pay and Google Pay worked with more of our credit cards than the others did, but your experience could be different.', 'After that, we set up our app’s security with our face or fingerprint to protect our transactions.', 'It sounds more complicated than it actually was.', 'After a flurry of confirmation emails and texts, we were ready to go shopping or send our friends some money.', 'One of the big advantages of these apps is that you forgo the need to carry cash and you can pay someone on the spot.', 'However, for all of these apps, our patience was rewarded.', 'If we wanted to make a P2P payment and our recipient was willing to wait a few days, then there wasn’t any fee applied.', 'But if we wanted the payment to happen in a matter of minutes, then it cost us.', 'For example, all the apps were free to download.', 'But when it came to fees, Apple charges 1.5% (with a minimum $0.25 and maximum $15 fee) and Venmo adds a 1% surcharge (with a maximum $10 fee).', 'Square is free for all personal accounts but charges 2.75% for business users.', 'Google Pay and Samsung Pay have no added fees.', 'Lastly, we also reviewed complaints collected by CardPaymentOptions.com for Apple Pay, Google Pay, Samsung Pay, Cash App and Venmo.', 'And we tried out the various support options available for each service.', 'All five apps had equivalent high scores on both.', 'Cash App, Samsung Pay and Venmo all share data with third parties to track internal marketing.', 'Apple Pay and Google Pay don’t do this, although they may use this data internally across their various properties.', 'During our testing, we used an Apple Watch and Samsung Galaxy Watch to gauge how easy it is to use a smartwatch versus a smartphone for mobile payments.', 'So, is your smartwatch better to use than your phone for payments?', 'No, we don’t think so.', 'We found the watch movements needed to get close enough to the payment terminal to make a connection were more cumbersome than they were when we used our phone.', 'And the usability factors to set up the account on the watches are sub-par.', 'If you use your watch for other apps, then great, but don’t rush out and get a watch just for payments.', 'Free at Cash App With Cash App, which is owned by Block (formerly Square, Inc.), you set up a username that your friends can use to find you when sending or demanding funds.', 'You do not need to know their phone number or email address.', 'Cash App is limited to debit cards only for direct access.', 'It also uses Plaid for connecting to your bank account, which we think adds another layer of security issues.', 'There are also various transfer limits, too, for unidentified users (e.g., sending $250 over per week or receiving $1,000 over a month).', 'You can set up recurring deposits, direct deposits, make bank transfers and even file your taxes.', 'There is a 3% fee if you are moving funds with a credit card.', 'You can also instantly purchase or sell Bitcoin from the app.', 'Cash App also works with the Lightning network to pay anyone with these cryptocurrencies.', 'Free at Samsung Samsung Pay works in several countries, but it is only available on Samsung smartphones and smartwatches.', 'It is basically a stripped-down version of Google Pay, using the same banking backends.', 'It requires your mobile number to complete its setup, and in our testing we found it didn’t support several of the debit cards we owned.', 'It also doesn’t support any P2P payments: you’ll need to use the separate Samsung Pay Cash app.', 'One advantage is that, while Apple Pay and Google Pay will only work with point-of-sale (POS) payment terminals equipped with NFC technology, Samsung Pay (from the phone, not from the watch) works at magnetic card terminals — those few that are left and haven’t been upgraded — as well.', 'We had trouble getting the Samsung Pay app to work with the Samsung Galaxy Watch (like Apple Pay, you have to separately install each card to use on the watch), and needed to install and re-install various Samsung apps.', 'We recommend using Google Pay instead.', 'Free at Venmo Venmo, which is only available in the United States, was simple to set up and get connected to our bank card.', 'Like Cash App, you can send money using a username, which obviates the need to know a friend’s phone number or email address.', 'One drawback to Venmo is that all of your friends’ transactions are made public by default, so anyone can see them in its public feed.', 'This means the first thing you need to do when using this service is turn these settings to Private.', 'Venmo also supports Bitcoin, Bitcoin Cash, Ethereum or Litecoin currency transactions.', 'If you are sending funds from a credit card and can’t wait, then there is a 3% fee.', 'Funds sent from your bank account are free if you can wait a few days.', 'Fees are clearly described on their Resources page and there are fees for unverified users when sending more than $300 per week.', 'Venmo’s browser client mirrors the UI for its phone app screens, which is useful for reviewing its numerous configuration settings.', 'But it could do a better job explaining its security protocols.']",0.19027227307609704,"We tested each of them with the following in mind: ease of installation, ease of setup, features, security, fees and customer support.","Over the course of several weeks, we tested out five different mobile payment apps: Apple Pay, Google Pay, Samsung Pay, Venmo (by PayPal) and Cash App (by Block, formerly Square)." The hot new scam on Wall Street,https://edition.cnn.com/2024/03/21/investing/premarket-stocks-trading-ai-washing/index.html," Published 7:50 AM EDT, Thu March 21, 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. There’s a hot new scam on Wall Street, and, of course, it involves the world’s buzziest technology: artificial intelligence. The Securities and Exchange Commission said Monday that it had charged investment advisers Delphia and Global Predictions for making deceptive claims about their use of AI, a practice known as AI washing. Both firms agreed to settle the charges, according to the SEC. “Global Predictions cooperated fully with the inquiry and is pleased to put this behind us. Additionally, we have clarified across our marketing how exactly we use AI,” the company said in a statement to CNN on Monday. Delphia did not respond to requests for comment. The firms paid a combined $400,000 in civil penalties, according to the SEC. “We’ve seen time and again that when new technologies come along, they can create buzz from investors as well as false claims by those purporting to use those new technologies,” SEC Chair Gary Gensler said in a statement on Monday. “Such AI washing hurts investors.” What is “AI washing?” The practice is comparable to greenwashing. But rather than trumpeting phony sustainable practices or a product that is supposedly zero-waste, companies engaging in AI washing falsely state that they use artificial intelligence or misportray their use of the technology. The Securities and Exchange Commission has also said that a failure to disclose potential risks surrounding AI is a form of deception. Public trading companies who participate in AI washing risk violating US securities law, Gensler warned in a speech last month. Artificial intelligence buzz helped push stocks into a fresh bull market last year after the launch of ChatGPT in November 2022, despite a backdrop of sky-high interest rates, recession fears and geopolitical turmoil. Although experts have touted positive uses for AI, many worry about potentially disastrous consequences including security risks, unmitigated spread of disinformation and even human extinction. The Federal Trade Commission has warned that AI could spur a “turbocharging” of scams and fraud, and that existing laws give the US government the ability to crack down on AI-borne consumer harm. How can investors protect themselves against AI washing and other AI scams? The SEC Office of Investor Education and Advocacy has best practices for investors to avoid such schemes. Here are some of them: • Make sure that any investment adviser, exchange or platform that you engage with is registered. You can do that for free through the SEC here.• Use information from several, verified sources before deciding where to put your dollars. Fraudsters can use AI to clone voices or generate fake video impersonating legitimate sources like government agencies or even your friends and family.• Be skeptical of endorsements from celebrities or influencers. The product or service they’re promoting could be a scam or just not right for your investment goals.• Review company disclosures and marketing tactics. Look for warning signs, such as a focus on promotions to attract investors rather than growing its business. You can find public companies’ disclosures in the SEC’s EDGAR database.• If it sounds too good to be true, it probably is. Promises of a guaranteed, turbocharged return with little to no risk are immediate red flags. The Federal Reserve held its key interest rate steady Wednesday for the fifth consecutive meeting, as the central bank awaits more data to determine when to cut rates, reports my colleague Bryan Mena. The Fed has raised rates aggressively over the past two years in a bid to fight the highest inflation in decades. But while Americans continue to deal with high interest rates and inflation, Fed officials are still not ready to bring down borrowing costs. Wall Street is betting that the first rate cut will come in the summer. Fed officials are facing the difficult task of balancing the risk of cutting too soon with the risk of cutting too late — both of which come with consequences. That’s why the timing of that first rate cut is so critical, because it could either undo the progress the Fed has seen, if officials cut too soon, or it could fail to prevent the economy from sharply deteriorating, if officials cut too late. Fed officials also released a fresh set of economic projections, which show they now expect fewer rate cuts in the coming years than they estimated in December. A majority of Fed policymakers continue to expect three rate cuts this year, but they now see fewer in 2025 and 2026. They expect interest rates in the longer run to be slightly higher than they projected in December. Economic growth is also expected to be much higher this year than officials estimated. Officials also reflected in their latest estimates that they expect “core” inflation, a measure that strips out volatile food and energy prices, to be higher this year than previously thought. Read more here. A multibillion-dollar settlement in the United States agreed last Friday has opened the door for alternative models of selling real estate, and likely spells the end to 6% commissions on home sales. American homesellers excited by the prospect of paying substantially lower fees — and realtors equally fearful of a huge cut to their income — need only look across the pond for an example of what might happen next, reports my colleague Anna Cooban. An influx of low-cost, online-only real estate agencies in Britain has shaken up its housing market in recent years, offering sellers highly competitive upfront fixed fees for a basic package of services. “Sell your home for free. No bull,” promises one such agency, Purplebricks, on its website. The company, founded a decade ago, offers sellers a valuation and a listing — “everything you need to sell your home” — for free. Sellers can choose, however, to pay for a range of services considered standard among traditional real estate agencies, and many of them do. Purplebricks charges £899 ($1,142) to have one of its agents conduct property viewings, for example, and £699 ($888) for a package that includes professional photos. But that’s still a much sweeter deal than the typical £2,850 ($3,616) a UK homeowner can expect to pay a traditional brick-and-mortar agent for a property priced at the national average of £285,000 ($362,022). Read more here.",CNN,21/03/2024,"['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.', 'There’s a hot new scam on Wall Street, and, of course, it involves the world’s buzziest technology: artificial intelligence.', 'The Securities and Exchange Commission said Monday that it had charged investment advisers Delphia and Global Predictions for making deceptive claims about their use of AI, a practice known as AI washing.', 'Both firms agreed to settle the charges, according to the SEC.', '“Global Predictions cooperated fully with the inquiry and is pleased to put this behind us.', 'Additionally, we have clarified across our marketing how exactly we use AI,” the company said in a statement to CNN on Monday.', 'Delphia did not respond to requests for comment.', 'The firms paid a combined $400,000 in civil penalties, according to the SEC.', '“We’ve seen time and again that when new technologies come along, they can create buzz from investors as well as false claims by those purporting to use those new technologies,” SEC Chair Gary Gensler said in a statement on Monday. “', 'Such AI washing hurts investors.”', 'What is “AI washing?”', 'The practice is comparable to greenwashing.', 'But rather than trumpeting phony sustainable practices or a product that is supposedly zero-waste, companies engaging in AI washing falsely state that they use artificial intelligence or misportray their use of the technology.', 'The Securities and Exchange Commission has also said that a failure to disclose potential risks surrounding AI is a form of deception.', 'Public trading companies who participate in AI washing risk violating US securities law, Gensler warned in a speech last month.', 'Artificial intelligence buzz helped push stocks into a fresh bull market last year after the launch of ChatGPT in November 2022, despite a backdrop of sky-high interest rates, recession fears and geopolitical turmoil.', 'Although experts have touted positive uses for AI, many worry about potentially disastrous consequences including security risks, unmitigated spread of disinformation and even human extinction.', 'The Federal Trade Commission has warned that AI could spur a “turbocharging” of scams and fraud, and that existing laws give the US government the ability to crack down on AI-borne consumer harm.', 'How can investors protect themselves against AI washing and other AI scams?', 'The SEC Office of Investor Education and Advocacy has best practices for investors to avoid such schemes.', 'Here are some of them: • Make sure that any investment adviser, exchange or platform that you engage with is registered.', 'You can do that for free through the SEC here.• Use information from several, verified sources before deciding where to put your dollars.', 'Fraudsters can use AI to clone voices or generate fake video impersonating legitimate sources like government agencies or even your friends and family.• Be skeptical of endorsements from celebrities or influencers.', 'The product or service they’re promoting could be a scam or just not right for your investment goals.• Review company disclosures and marketing tactics.', 'Look for warning signs, such as a focus on promotions to attract investors rather than growing its business.', 'You can find public companies’ disclosures in the SEC’s EDGAR database.• If it sounds too good to be true, it probably is.', 'Promises of a guaranteed, turbocharged return with little to no risk are immediate red flags.', 'The Federal Reserve held its key interest rate steady Wednesday for the fifth consecutive meeting, as the central bank awaits more data to determine when to cut rates, reports my colleague Bryan Mena.', 'The Fed has raised rates aggressively over the past two years in a bid to fight the highest inflation in decades.', 'But while Americans continue to deal with high interest rates and inflation, Fed officials are still not ready to bring down borrowing costs.', 'Wall Street is betting that the first rate cut will come in the summer.', 'Fed officials are facing the difficult task of balancing the risk of cutting too soon with the risk of cutting too late — both of which come with consequences.', 'That’s why the timing of that first rate cut is so critical, because it could either undo the progress the Fed has seen, if officials cut too soon, or it could fail to prevent the economy from sharply deteriorating, if officials cut too late.', 'Fed officials also released a fresh set of economic projections, which show they now expect fewer rate cuts in the coming years than they estimated in December.', 'A majority of Fed policymakers continue to expect three rate cuts this year, but they now see fewer in 2025 and 2026.', 'They expect interest rates in the longer run to be slightly higher than they projected in December.', 'Economic growth is also expected to be much higher this year than officials estimated.', 'Officials also reflected in their latest estimates that they expect “core” inflation, a measure that strips out volatile food and energy prices, to be higher this year than previously thought.', 'Read more here.', 'A multibillion-dollar settlement in the United States agreed last Friday has opened the door for alternative models of selling real estate, and likely spells the end to 6% commissions on home sales.', 'American homesellers excited by the prospect of paying substantially lower fees — and realtors equally fearful of a huge cut to their income — need only look across the pond for an example of what might happen next, reports my colleague Anna Cooban.', 'An influx of low-cost, online-only real estate agencies in Britain has shaken up its housing market in recent years, offering sellers highly competitive upfront fixed fees for a basic package of services.', '“Sell your home for free.', 'No bull,” promises one such agency, Purplebricks, on its website.', 'The company, founded a decade ago, offers sellers a valuation and a listing — “everything you need to sell your home” — for free.', 'Sellers can choose, however, to pay for a range of services considered standard among traditional real estate agencies, and many of them do.', 'Purplebricks charges £899 ($1,142) to have one of its agents conduct property viewings, for example, and £699 ($888) for a package that includes professional photos.', 'But that’s still a much sweeter deal than the typical £2,850 ($3,616) a UK homeowner can expect to pay a traditional brick-and-mortar agent for a property priced at the national average of £285,000 ($362,022).', 'Read more here.']",-0.01020635191165628,"You can find public companies’ disclosures in the SEC’s EDGAR database.• If it sounds too good to be true, it probably is.","The Federal Trade Commission has warned that AI could spur a “turbocharging” of scams and fraud, and that existing laws give the US government the ability to crack down on AI-borne consumer harm." Flying is getting scary. But is it still safe?,https://edition.cnn.com/2024/03/24/business/is-it-safe-to-fly-airplanes-boeing-max/index.html," Published 12:30 PM EDT, Sun March 24, 2024 ","The reports of harrowing and sometimes tragic incidents aboard airplanes accelerated this year, leading many to wonder if it’s still safe to fly. A door plug blew out on an Alaska Airlines flight leaving a gaping hole in the Boeing 737 Max fuselage. Passengers’ phones and clothing were ripped from their bodies and sent hurtling out into the night as oxygen masks dropped and the plane made its way to the ground, fortunately without any serious injuries. Another Boeing jet plunged so severely that passengers were thrown onto the ceiling of the cabin, leaving dozens so injured they need to be hospitalized upon landing. A passenger plane collided with a military plane at a Tokyo airport, killing five members of the Japanese Coast Guard who were responding to an earthquake. And more minor incidents happened, like when a 200-pound wheel fell off a plane on takeoff, crushing parked vehicles on the ground. Another plane’s engine caught fire. A jet arrived at an airport only to have a missing panel discovered. These incidents all gained attention worthy of a Kardashian on social media. But answering the question of whether it is still safe to fly is not so straightforward. The quick answer is that flying is safe — safer than most forms of travel — and far, far safer than the car ride most people take every day without thinking twice. “When you arrive at the airport, and step aboard the pressurized tube, that’s the safest part of the trip,” said Anthony Brickhouse, a crash investigator and professor of aviation safety at Embry-Riddle Aeronautical University. “You were more at risk driving to the airport.” But it’s also true that it’s only pure luck that the American aviation industry has kept its near-perfect safety record intact. Since a regional jet crashed in Buffalo, New York, in January of 2009, killing 49 on board and one on the ground, only five other people have died in accidents on scheduled commercial flights in the United States: By comparison, an average of more than 100 people a day died on America’s roads and highways between 2003 and 2022, the most recent year for which full year traffic deaths are available. That means nearly as many died on roads and highways every hour, on average, as the number of people who died in US commercial aviation crashes in 15 years. However, other forms of flying are not nearly as safe. Nearly 300 people have died since 2009 while traveling in “on demand” air service, such as private jets. And nearly 5,500 people have died in general aviation, which are typically small planes often operated by amateur pilots. While commercial aviation has the safest record among transit options, railroads are the second safest form of travel. Railroads had 71 passenger deaths on commuter trains and Amtrak from 2009 through last year. But passenger trains logged far fewer miles traveled than planes or motor vehicles. When you control for the much higher number of miles traveled by planes, it’s clearly much more dangerous to travel on the ground than to fly on a commercial US airline. Ed Pierson, the director of the Foundation for Aviation Safety and a harsh critic of Boeing, said he knows the stats, but because of concerns about quality controls at the embattled aircraft maker, he still would refuse to fly on the Boeing 737 Max or have a family member do so. He has even gotten off a Max just before departure after he was surprised to find out he was on that particular model of plane. Still, Pierson said he is willing to fly on most planes, even many older Boeing models. “Taking the Max out of the equation, (flying has) been proven to be pretty darn safe,” he said. Unfortunately, the safety record of recent years is not a guarantee of safety in the future. The record for the nearly fatality-free US airplane travel industry is partly due to the efforts of aviation authorities, airlines and aircraft manufacturers, despite the criticism heaped on all three of those groups recently. But mainly it’s been sheer luck. In each case, if things had gone just a little differently, the outcomes could have been much worse. The Alaska Air plane that lost the door plug had flown for more than two months without the four bolts needed to keep the door plug in place, according to the National Transportation Safety Board. It had made 153 flights before the door plug blew out at 16,000 feet. Twenty-two of those flights were between Hawaii and the mainland. If the door had blown out at the normal 35,000-foot cruising altitude, or hours from the nearest airport over the open Pacific Ocean, or if the plug had gone straight back and hit the tail of the plane and caused damage, it could likely have caused a loss of the aircraft and the 177 people on board. And that’s not the biggest break. A year ago, the discussion about air safety wasn’t focused on Boeing planes. It was on a series of near-misses on runways at the nation’s airports with reports of incident after incident of narrowly averted collisions. On February 4, 2023, a FedEx jet came within 150 feet of the runway before its pilots realized a Southwest jet was in the process of taking off on the same runway. It was one of five such incidents in which an accident was only narrowly avoided in a period of just seven weeks at the start of last year. And none of those were as potentially serious as another incident in July 2017, when an Air Canada jet piloted by a captain who had been awake for more than 19 hours nearly landed on a taxiway at San Francisco International Airport where three wide-body jets filled with passengers were waiting to take off. The NTSB later determined the Air Canada jet got within 100 feet of the ground before it took off again without making contact with any of the passenger planes on the ground. The safety regulator said more than 1,000 people on the four planes might have died had the accident not been averted at the last moment. “It would have been the worst disaster in aviation history,” Brickhouse said. “Pilots, air traffic controllers, mechanics — they’re all human, and humans make mistakes. We’ve been working toward designing the system so that when mistakes are made, we can recover from them without it being a tragedy.” But Pierson said the system is under unprecedented stress, and regulators, airlines and aircraft manufactures like Boeing need to make changes. “I think the system is under tremendous stress,” he said. “There’s a shortage of staff, in air traffic control, a shortage of pilots, of maintenance personnel, of manufacturing personnel.” What concerns Pierson the most is the attitude that the apparent safety of the American aviation system means nothing needs to be improved. “There’s a sense of overconfidence,” he said. “The gold standard is melting down, because we continue to try to downplay everything and talk about how safe the system is. That’s not the right mindset. That’s the mindset that gets people killed.” Brickhouse believes the planes now in use are safe. He said the drama of the Alaska Air incident brought attention to a series of other events that in and of themselves don’t pose a serious threat, even if they should not have happened. “We have safety events in aviation all the time. That is not an indictment of the aviation industry,” he said. “But after Alaska Air, it became a snowballing event and everyone became hypersensitive.” Despite having more confidence in the safety of the system than Pierson, Brickhouse said he also wouldn’t dismiss anyone who’s fearful about flying right now or who wants to avoid a plane like the 737 Max. And he has his own concerns about things like the number of narrowly avoided accidents at the nation’s airports. “I don’t believe in luck, but we are fortunate that these incidents did not turn into disasters,” he said. “When you have a trend that keeps occurring, you need to focus on fixing it.”",CNN,24/03/2024,"['The reports of harrowing and sometimes tragic incidents aboard airplanes accelerated this year, leading many to wonder if it’s still safe to fly.', 'A door plug blew out on an Alaska Airlines flight leaving a gaping hole in the Boeing 737 Max fuselage.', 'Passengers’ phones and clothing were ripped from their bodies and sent hurtling out into the night as oxygen masks dropped and the plane made its way to the ground, fortunately without any serious injuries.', 'Another Boeing jet plunged so severely that passengers were thrown onto the ceiling of the cabin, leaving dozens so injured they need to be hospitalized upon landing.', 'A passenger plane collided with a military plane at a Tokyo airport, killing five members of the Japanese Coast Guard who were responding to an earthquake.', 'And more minor incidents happened, like when a 200-pound wheel fell off a plane on takeoff, crushing parked vehicles on the ground.', 'Another plane’s engine caught fire.', 'A jet arrived at an airport only to have a missing panel discovered.', 'These incidents all gained attention worthy of a Kardashian on social media.', 'But answering the question of whether it is still safe to fly is not so straightforward.', 'The quick answer is that flying is safe — safer than most forms of travel — and far, far safer than the car ride most people take every day without thinking twice.', '“When you arrive at the airport, and step aboard the pressurized tube, that’s the safest part of the trip,” said Anthony Brickhouse, a crash investigator and professor of aviation safety at Embry-Riddle Aeronautical University. “', 'You were more at risk driving to the airport.”', 'But it’s also true that it’s only pure luck that the American aviation industry has kept its near-perfect safety record intact.', 'Since a regional jet crashed in Buffalo, New York, in January of 2009, killing 49 on board and one on the ground, only five other people have died in accidents on scheduled commercial flights in the United States: By comparison, an average of more than 100 people a day died on America’s roads and highways between 2003 and 2022, the most recent year for which full year traffic deaths are available.', 'That means nearly as many died on roads and highways every hour, on average, as the number of people who died in US commercial aviation crashes in 15 years.', 'However, other forms of flying are not nearly as safe.', 'Nearly 300 people have died since 2009 while traveling in “on demand” air service, such as private jets.', 'And nearly 5,500 people have died in general aviation, which are typically small planes often operated by amateur pilots.', 'While commercial aviation has the safest record among transit options, railroads are the second safest form of travel.', 'Railroads had 71 passenger deaths on commuter trains and Amtrak from 2009 through last year.', 'But passenger trains logged far fewer miles traveled than planes or motor vehicles.', 'When you control for the much higher number of miles traveled by planes, it’s clearly much more dangerous to travel on the ground than to fly on a commercial US airline.', 'Ed Pierson, the director of the Foundation for Aviation Safety and a harsh critic of Boeing, said he knows the stats, but because of concerns about quality controls at the embattled aircraft maker, he still would refuse to fly on the Boeing 737 Max or have a family member do so.', 'He has even gotten off a Max just before departure after he was surprised to find out he was on that particular model of plane.', 'Still, Pierson said he is willing to fly on most planes, even many older Boeing models.', '“Taking the Max out of the equation, (flying has) been proven to be pretty darn safe,” he said.', 'Unfortunately, the safety record of recent years is not a guarantee of safety in the future.', 'The record for the nearly fatality-free US airplane travel industry is partly due to the efforts of aviation authorities, airlines and aircraft manufacturers, despite the criticism heaped on all three of those groups recently.', 'But mainly it’s been sheer luck.', 'In each case, if things had gone just a little differently, the outcomes could have been much worse.', 'The Alaska Air plane that lost the door plug had flown for more than two months without the four bolts needed to keep the door plug in place, according to the National Transportation Safety Board.', 'It had made 153 flights before the door plug blew out at 16,000 feet.', 'Twenty-two of those flights were between Hawaii and the mainland.', 'If the door had blown out at the normal 35,000-foot cruising altitude, or hours from the nearest airport over the open Pacific Ocean, or if the plug had gone straight back and hit the tail of the plane and caused damage, it could likely have caused a loss of the aircraft and the 177 people on board.', 'And that’s not the biggest break.', 'A year ago, the discussion about air safety wasn’t focused on Boeing planes.', 'It was on a series of near-misses on runways at the nation’s airports with reports of incident after incident of narrowly averted collisions.', 'On February 4, 2023, a FedEx jet came within 150 feet of the runway before its pilots realized a Southwest jet was in the process of taking off on the same runway.', 'It was one of five such incidents in which an accident was only narrowly avoided in a period of just seven weeks at the start of last year.', 'And none of those were as potentially serious as another incident in July 2017, when an Air Canada jet piloted by a captain who had been awake for more than 19 hours nearly landed on a taxiway at San Francisco International Airport where three wide-body jets filled with passengers were waiting to take off.', 'The NTSB later determined the Air Canada jet got within 100 feet of the ground before it took off again without making contact with any of the passenger planes on the ground.', 'The safety regulator said more than 1,000 people on the four planes might have died had the accident not been averted at the last moment.', '“It would have been the worst disaster in aviation history,” Brickhouse said. “', 'Pilots, air traffic controllers, mechanics — they’re all human, and humans make mistakes.', 'We’ve been working toward designing the system so that when mistakes are made, we can recover from them without it being a tragedy.”', 'But Pierson said the system is under unprecedented stress, and regulators, airlines and aircraft manufactures like Boeing need to make changes.', '“I think the system is under tremendous stress,” he said. “', 'There’s a shortage of staff, in air traffic control, a shortage of pilots, of maintenance personnel, of manufacturing personnel.”', 'What concerns Pierson the most is the attitude that the apparent safety of the American aviation system means nothing needs to be improved.', '“There’s a sense of overconfidence,” he said. “', 'The gold standard is melting down, because we continue to try to downplay everything and talk about how safe the system is.', 'That’s not the right mindset.', 'That’s the mindset that gets people killed.”', 'Brickhouse believes the planes now in use are safe.', 'He said the drama of the Alaska Air incident brought attention to a series of other events that in and of themselves don’t pose a serious threat, even if they should not have happened.', '“We have safety events in aviation all the time.', 'That is not an indictment of the aviation industry,” he said. “', 'But after Alaska Air, it became a snowballing event and everyone became hypersensitive.”', 'Despite having more confidence in the safety of the system than Pierson, Brickhouse said he also wouldn’t dismiss anyone who’s fearful about flying right now or who wants to avoid a plane like the 737 Max.', 'And he has his own concerns about things like the number of narrowly avoided accidents at the nation’s airports.', '“I don’t believe in luck, but we are fortunate that these incidents did not turn into disasters,” he said. “', 'When you have a trend that keeps occurring, you need to focus on fixing it.”']",-0.06687788441289161,But it’s also true that it’s only pure luck that the American aviation industry has kept its near-perfect safety record intact.,"Since a regional jet crashed in Buffalo, New York, in January of 2009, killing 49 on board and one on the ground, only five other people have died in accidents on scheduled commercial flights in the United States: By comparison, an average of more than 100 people a day died on America’s roads and highways between 2003 and 2022, the most recent year for which full year traffic deaths are available." FCC cracks down on cable ‘junk fees’,https://edition.cnn.com/2024/03/14/tech/americans-high-speed-internet-access-fcc/index.html," Published 2:31 PM EDT, Thu March 14, 2024 ","The US government is cracking down on cable TV “junk fees,” forcing providers to publish a single, comprehensive price — so consumers know up front exactly how much they’ll pay for services inclusive of all extra costs. The junk fees crackdown is part of a series of moves the Federal Communications Commission announced Thursday. During its monthly open meeting, the agency addressed other consumer issues, including finalizing a new cybersecurity product label for hack-resistant tech gadgets and releasing a report finding that 24 million Americans still lack high speed internet access. The new junk fees rule requires cable and satellite TV companies to list “all-in” prices to consumers in their billing and marketing materials — including any miscellaneous fees, such as those related to sports programming or local broadcast channels. Between 24% and 33% of the typical consumer’s bill can be attributed to fees, consumer advocates told the FCC. The new rule aims to help consumers comparison shop among different providers. The move could simplify what is currently a difficult process of comparing apples to oranges, the FCC said. “No one likes surprises on their bill,” said FCC Chairwoman Jessica Rosenworcel. “The advertised price for service should be the price you pay when your bill arrives. It shouldn’t include a bunch of unexpected junk fees that are separate from the top line price you were told when you signed up.” In a report released Thursday alongside the agency’s 3-2 vote, the FCC cited a filing that Consumer Reports submitted to the agency, alleging that cable companies publicly advertise “relatively low base rates” to lure customers in before imposing “a dizzying array of other charges.” The cable industry has pushed back, saying “all-in” pricing is unnecessary and that the current practice of breaking out fees into separate line items is a more transparent approach that helps consumers. “Our members clearly disclose the specific amounts of the fees that will apply and the total amount customers will pay for service, thereby ensuring that customers are not ‘surprised by unexpected fees,’” said NCTA, a trade association representing some of the nation’s largest cable companies, in a filing to the FCC. In a separate move last year, the FCC proposed banning certain cable fees altogether, including early termination fees that the agency says hinder competition and prevent customers from easily switching providers. That proposal would also require companies to provide consumer refunds if a subscriber cancels their plan mid-month. In addition to cable, the FCC also addressed internet availability during its Thursday meeting. Tens of millions of Americans still don’t have access to high-speed home internet, the FCC added Thursday in a new report highlighting the digital divide. The problem affects more than 1 in 4 Americans, or 28%, who live in rural areas, the FCC said, and the same is true for 23% of people living on tribal lands. Overall, 7% of the country, or 24 million Americans, lack high-speed access. “It was four years ago this week that so many of us were told to go home,” said Rosenworcel, referring to the Covid-19 lockdowns of 2020. “The pandemic exposed our digital divide in living color.” The new report is based on 2022 data and first-time insights from a massive, years-long revamp of FCC coverage maps — which officials say provide radically more accurate service estimates. Previously, entire census blocks were considered served by broadband if just one household within a census block had high-speed internet, dramatically overstating the number of connected Americans. The report also reflects newly adopted revisions in how the country defines high-speed internet, which the FCC voted to approve on Thursday. The definition of high-speed home internet has not been updated since 2015, when the FCC set the threshold at a minimum download speed of 25 megabits per second and a minimum upload speed of 3 megabits per second. Thursday’s revisions set the new standard at 100 Mbps for downloads and 20 Mbps for uploads, reflecting advances in technology and how faster internet speeds have become an absolute necessity for everyday life, supporting everything from telehealth visits to remote work. The definition of broadband is more than academic; it has far-reaching implications for how the country allocates billions in federal funding for infrastructure and government aid programs. The FCC moves follow Congress’ decision to spend billions of dollars in the 2021 bipartisan infrastructure law to build out internet service to hard-to-reach and underserved areas. It also comes as more than 23 million low-income households are at risk of losing their internet service, or could face potential bill shock, due to the expiration this spring of a critical benefit program popular with both parties known as the Affordable Connectivity Program. Thursday’s FCC report sets a long-term goal to serve Americans everywhere with download speeds of at least 1,000 Mbps, also known as gigabit speeds, and download speeds of 500 Mbps or more. Republican members of the FCC criticized the report on connectivity and the vote to increase the definition of broadband, saying the moves appear intended to justify more regulation of internet service providers and taxpayer spending. A Biden administration plan to protect consumer electronics from hackers also received final approval on Thursday as the FCC voted unanimously to greenlight a product label that will soon appear on smart home devices, baby monitors and other common gadgets. The label, which resembles a shield and that officials compare to the Energy Star certification program that denotes energy-efficient products, is intended to help buyers pick out connected appliances that voluntarily meet rigorous cybersecurity standards. A wide range of products will be eligible for the label, including internet-connected refrigerators, washing machines, doorbell cameras and smart speakers — provided that they meet criteria published by the National Institute for Standards and Technology. Some of the participating electronics makers and retailers in the program include giants such as Logitech, LG, Samsung, Best Buy and Amazon. “You want to know that when you bring that monitor into your house to watch your newborn, that connection is secure and is not going to invite any malware or malicious activity into your home,” said Rosenworcel, the chairwoman. “I think parents everywhere feel that way.” US officials have said that consumers have their own role to play in protecting the nation from cyberattacks — and that is by making informed decisions about what tech products to buy. “Imagine you’re a mom, and you’re worried about someone taking pictures of your infant lying in a crib and posting them on the dark web,” US deputy national security advisor Anne Neuberger said during an onstage appearance this year at the Consumer Electronics Show in Las Vegas. “Think about your home alarm system, somebody hacking into it and unlocking digital locks. Those are examples we see today.” The “US Cyber Trust Mark” label will improve the country’s baseline cybersecurity by ensuring that the most widely used tech products in America are those that have been specifically hardened against hacking, the Biden administration has said. It could also encourage competition among electronics manufacturers to offer the most secure devices on the market. Thursday’s action by the FCC establishes the Cyber Trust Mark program, plus a publicly available database that will list all the trusted products that have received the label. Neuberger has said the Biden administration is working with overseas counterparts to extend the labeling program to the European Union, and that the partnership will make US products more attractive and competitive in the EU. She has also said consumers could begin seeing the label on store shelves by the end of the year.",CNN,14/03/2024,"['The US government is cracking down on cable TV “junk fees,” forcing providers to publish a single, comprehensive price — so consumers know up front exactly how much they’ll pay for services inclusive of all extra costs.', 'The junk fees crackdown is part of a series of moves the Federal Communications Commission announced Thursday.', 'During its monthly open meeting, the agency addressed other consumer issues, including finalizing a new cybersecurity product label for hack-resistant tech gadgets and releasing a report finding that 24 million Americans still lack high speed internet access.', 'The new junk fees rule requires cable and satellite TV companies to list “all-in” prices to consumers in their billing and marketing materials — including any miscellaneous fees, such as those related to sports programming or local broadcast channels.', 'Between 24% and 33% of the typical consumer’s bill can be attributed to fees, consumer advocates told the FCC.', 'The new rule aims to help consumers comparison shop among different providers.', 'The move could simplify what is currently a difficult process of comparing apples to oranges, the FCC said.', '“No one likes surprises on their bill,” said FCC Chairwoman Jessica Rosenworcel. “', 'The advertised price for service should be the price you pay when your bill arrives.', 'It shouldn’t include a bunch of unexpected junk fees that are separate from the top line price you were told when you signed up.”', 'In a report released Thursday alongside the agency’s 3-2 vote, the FCC cited a filing that Consumer Reports submitted to the agency, alleging that cable companies publicly advertise “relatively low base rates” to lure customers in before imposing “a dizzying array of other charges.”', 'The cable industry has pushed back, saying “all-in” pricing is unnecessary and that the current practice of breaking out fees into separate line items is a more transparent approach that helps consumers.', '“Our members clearly disclose the specific amounts of the fees that will apply and the total amount customers will pay for service, thereby ensuring that customers are not ‘surprised by unexpected fees,’” said NCTA, a trade association representing some of the nation’s largest cable companies, in a filing to the FCC.', 'In a separate move last year, the FCC proposed banning certain cable fees altogether, including early termination fees that the agency says hinder competition and prevent customers from easily switching providers.', 'That proposal would also require companies to provide consumer refunds if a subscriber cancels their plan mid-month.', 'In addition to cable, the FCC also addressed internet availability during its Thursday meeting.', 'Tens of millions of Americans still don’t have access to high-speed home internet, the FCC added Thursday in a new report highlighting thedigital divide.', 'The problem affects more than 1 in 4 Americans, or 28%, who live in rural areas, the FCC said, and the same is true for 23% of people living on tribal lands.', 'Overall, 7% of the country, or 24 million Americans, lack high-speed access.', '“It was four years ago this week that so many of us were told to go home,” said Rosenworcel, referring to the Covid-19 lockdowns of 2020. “', 'The pandemic exposed our digital divide in living color.”', 'The new report is based on 2022 data and first-time insights from a massive, years-long revamp of FCC coverage maps — which officials say provide radically more accurate service estimates.', 'Previously, entire census blocks were considered served by broadband if just one household within a census block had high-speed internet, dramatically overstating the number of connected Americans.', 'The report also reflects newly adopted revisions in how the country defines high-speed internet, which the FCC voted to approve on Thursday.', 'The definition of high-speed home internet has not been updated since 2015, when the FCC set the threshold at a minimum download speed of 25 megabits per second and a minimum upload speed of 3 megabits per second.', 'Thursday’s revisions set the new standard at 100 Mbps for downloads and 20 Mbps for uploads, reflecting advances in technology and how faster internet speeds have become an absolute necessity for everyday life, supporting everything from telehealth visits to remote work.', 'The definition of broadband is more than academic; it has far-reaching implications for how the country allocates billions in federal funding for infrastructure and government aid programs.', 'The FCC moves follow Congress’ decision to spend billions of dollars in the 2021 bipartisan infrastructure law to build out internet service to hard-to-reach and underserved areas.', 'It also comes as more than 23 million low-income households are at risk of losing their internet service, or could face potential bill shock, due to the expiration this spring of a critical benefit program popular with both parties known as the Affordable Connectivity Program.', 'Thursday’s FCC report sets a long-term goal to serve Americans everywhere with download speeds of at least 1,000 Mbps, also known asgigabit speeds, and download speeds of 500 Mbps or more.', 'Republican members of the FCC criticized the report on connectivity and the vote to increase the definition of broadband, saying the moves appearintended to justify more regulation of internet service providers and taxpayer spending.', 'A Biden administration plan to protect consumer electronics from hackers also received final approval on Thursday as the FCC voted unanimously to greenlight a product label that will soon appear on smart home devices, baby monitors and other common gadgets.', 'The label, which resembles a shield and that officials compare to the Energy Star certification program that denotes energy-efficient products, is intended to help buyers pick out connected appliances that voluntarily meet rigorous cybersecurity standards.', 'A wide range of products will be eligible for the label, including internet-connected refrigerators, washing machines, doorbell cameras and smart speakers — provided that they meet criteria published by the National Institute for Standards and Technology.', 'Some of the participating electronics makers and retailers in the program include giants such as Logitech, LG, Samsung, Best Buy and Amazon.', '“You want to know that when you bring that monitor into your house to watch your newborn, that connection is secure and is not going to invite any malware or malicious activity into your home,” said Rosenworcel, the chairwoman. “', 'I think parents everywhere feel that way.”', 'US officials have said that consumers have their own role to play in protecting the nation from cyberattacks — and that is by making informed decisions about what tech products to buy.', '“Imagine you’re a mom, and you’re worried about someone taking pictures of your infant lying in a crib and posting them on the dark web,” US deputy national security advisor Anne Neuberger said during an onstage appearance this year at the Consumer Electronics Show in Las Vegas. “', 'Think about your home alarm system, somebody hacking into it and unlocking digital locks.', 'Those are examples we see today.”', 'The “US Cyber Trust Mark” label will improve the country’s baseline cybersecurity by ensuring that the most widely used tech products in America are those that have been specifically hardened against hacking, the Biden administration has said.', 'It could also encourage competition among electronics manufacturers to offer the most secure devices on the market.', 'Thursday’s action by the FCC establishes the Cyber Trust Mark program, plus a publicly available database that will list all the trusted products that have received the label.', 'Neuberger has said the Biden administration is working with overseas counterparts to extend the labeling program to the European Union, and that the partnership will make US products more attractive and competitive in the EU.', 'She has also said consumers could begin seeing the label on store shelves by the end of the year.']",0.12372944870496551,"A Biden administration plan to protect consumer electronics from hackers also received final approval on Thursday as the FCC voted unanimously to greenlight a product label that will soon appear on smart home devices, baby monitors and other common gadgets.","In a report released Thursday alongside the agency’s 3-2 vote, the FCC cited a filing that Consumer Reports submitted to the agency, alleging that cable companies publicly advertise “relatively low base rates” to lure customers in before imposing “a dizzying array of other charges.”" Realtors are nervous: ‘It could be the worst thing ever’,https://edition.cnn.com/2024/03/21/business/realtors-nar-settlement/index.html," Updated 7:16 AM EDT, Thu March 21, 2024 ","Lower pay, intense competition for clients and a massive exodus of realtors. Those are some of the predictions that real estate professionals are making, anxiously, after the recent settlement from the National Association of Realtors with homebuyers, which establishes new rules for brokers that could upend the way Americans buy and sell their homes. On Friday, the NAR announced that it had agreed to change some of its guidelines that critics said were behind inflated home prices. If approved, the settlement will likely lower commissions brokers have charged sellers and shared with buyers’ agents. Experts say it will likely dramatically change how some real estate professionals get paid for their services. Feeling the ground shift under them, some who are helping people buy and sell homes say they aren’t sure what these changes will mean and whether they will damage the way they make their living. Some are holding out hope for the best in an uncertain time. “It could turn out to be a good thing,” said Belinda Tucker, a Realtor who started her own real estate firm last year in Moore County, North Carolina. “Or it could turn out to be the worst thing ever.” Under the current system, most home sellers pay a commission, usually 5% or 6%, upon selling their home. The commission is generally shared between the agent representing the seller and an agent representing the home buyer. Groups of sellers brought lawsuits against the NAR for this practice, alleging it was a violation of antitrust laws. Under the proposed terms of the settlement, sellers’ agents will no longer be required to offer commissions to buyers’ agents. That means some buyers’ agents will probably have to find another way to get paid. “I don’t know how we’re going to negotiate, but we’re going to have to because we have to get paid,” said Tucker. The new rules also require agents to enter into written agreements with their buyers. Many of the Realtors who spoke to CNN said they plan to stipulate that if a home seller does not agree to pay their commission, their buyer is on the hook for payment. “I have cleaned houses; I’ve moved people out. Anything to be helpful,” said Tucker. “Nobody works for free.” However, many first-time buyers, already shelling out their savings for what is often the largest purchase of their lives, may be unwilling or unable to pay thousands of dollars more for their Realtor. Some may look to negotiate their agent’s commission down to 2%, 1% – or possibly less – perhaps in the form of a flat fee. In fact, the settlement is expected to slash overall real estate commissions by 25% to 50%, according to an estimate from TD Cowen Insights. NAR currently counts more than 1.5 million members, but some Realtors and other experts predict that lower pay and increased competition may push many members out of the profession. Jing Pu, the CEO of Edgewise Realty, a real estate technology company, said the added expense may spur more home buyers to turn to internet listing sites and other technologies for their home searches rather than relying on a Realtor. “We think a lot of buyer agents may ultimately shift to selling – to the listing agent side,” he said. Many experts predict that the new rules will dramatically slash the cost of buying and selling a home since sellers often bake their commission fees to the overall price tag of their home. A price drop would be a much-needed reprieve for those looking to buy a home: the median sales price of a new home has surged 21% since January 2020. However, some Realtors estimate that the opposite will be true now that homebuyers are tasked with paying their own agents. “This is just going to be an added expense for buyers who are already really struggling to get into this housing market,” said Brita Kleingartner, a Realtor in Los Angeles, CA. “We’re at an all-time high for housing prices and affordability and this is just going to make it more difficult for buyers.” Though under the new rules, agents are still allowed to negotiate a deal in which sellers pay a buyers’ agent fee, Kleingartner pointed out that in a competitive market like Los Angeles, where she works, most homes go into bidding wars. “Buyers with extra down payment money are going to offer to pay their buyers’ agent commissions themselves,” she said. “I think it’s just going to add to the competitive nature of this market.” Tucker said the new rules and the discourse surrounding commissions make it feel like “Realtor is a bad word.” “99% of us are your neighbors. We go through the same things that any buyer and seller do,” she said. “Just like you pay your hairdresser or you landscaper or anybody else for a service, we do provide a good service.” But not all agents think the new rules spell doom for their industry. Crystal Tran, a Realtor in Chicago, said that she thinks asking buyers to agree to payment will “weed out the people who are not serious about homebuying.” “I think there’s a lot of confusion out there,” Tran said. “But this is going to make us refine our business to really show our clients our value.” When the dust settles, Tucker said she feels “confident” that her business will still be standing. “Will we be as busy with buyers? I’m not sure.”",CNN,21/03/2024,"['Lower pay, intense competition for clients and a massive exodus of realtors.', 'Those are some of the predictions that real estate professionals are making, anxiously, after the recent settlement from the National Association of Realtors with homebuyers, which establishes new rules for brokers that could upend the way Americans buy and sell their homes.', 'On Friday, the NAR announced that it had agreed to change some of its guidelines that critics said were behind inflated home prices.', 'If approved, the settlement will likely lower commissions brokers have charged sellers and shared with buyers’ agents.', 'Experts say it will likely dramatically change how some real estate professionals get paid for their services.', 'Feeling the ground shift under them, some who are helping people buy and sell homes say they aren’t sure what these changes will mean and whether they will damage the way they make their living.', 'Some are holding out hope for the best in an uncertain time.', '“It could turn out to be a good thing,” said Belinda Tucker, a Realtor who started her own real estate firm last year in Moore County, North Carolina. “', 'Or it could turn out to be the worst thing ever.”', 'Under the current system, most home sellers pay a commission, usually 5% or 6%, upon selling their home.', 'The commission is generally shared between the agent representing the seller and an agent representing the home buyer.', 'Groups of sellers brought lawsuits against the NAR for this practice, alleging it was a violation of antitrust laws.', 'Under the proposed terms of the settlement, sellers’ agents will no longer be required to offer commissions to buyers’ agents.', 'That means some buyers’ agents will probably have to find another way to get paid.', '“I don’t know how we’re going to negotiate, but we’re going to have to because we have to get paid,” said Tucker.', 'The new rules also require agents to enter into written agreements with their buyers.', 'Many of the Realtors who spoke to CNN said they plan to stipulate that if a home seller does not agree to pay their commission, their buyer is on the hook for payment.', '“I have cleaned houses; I’ve moved people out.', 'Anything to be helpful,” said Tucker. “', 'Nobody works for free.”', 'However, many first-time buyers, already shelling out their savings for what is often the largest purchase of their lives, may be unwilling or unable to pay thousands of dollars more for their Realtor.', 'Some may look to negotiate their agent’s commission down to 2%, 1% – or possibly less – perhaps in the form of a flat fee.', 'In fact, the settlement is expected to slash overall real estate commissions by 25% to 50%, according to an estimate from TD Cowen Insights.', 'NAR currently counts more than 1.5 million members, but some Realtors and other experts predict that lower pay and increased competition may push many members out of the profession.', 'Jing Pu, the CEO of Edgewise Realty, a real estate technology company, said the added expense may spur more home buyers to turn to internet listing sites and other technologies for their home searches rather than relying on a Realtor.', '“We think a lot of buyer agents may ultimately shift to selling – to the listing agent side,” he said.', 'Many experts predict that the new rules will dramatically slash the cost of buying and selling a home since sellers often bake their commission fees to the overall price tag of their home.', 'A price drop would be a much-needed reprieve for those looking to buy a home: the median sales price of a new home has surged 21% since January 2020.', 'However, some Realtors estimate that the opposite will be true now that homebuyers are tasked with paying their own agents.', '“This is just going to be an added expense for buyers who are already really struggling to get into this housing market,” said Brita Kleingartner, a Realtor in Los Angeles, CA. “', 'We’re at an all-time high for housing prices and affordability and this is just going to make it more difficult for buyers.”', 'Though under the new rules, agents are still allowed to negotiate a deal in which sellers pay a buyers’ agent fee, Kleingartner pointed out that in a competitive market like Los Angeles, where she works, most homes go into bidding wars.', '“Buyers with extra down payment money are going to offer to pay their buyers’ agent commissions themselves,” she said. “', 'I think it’s just going to add to the competitive nature of this market.”', 'Tucker said the new rules and the discourse surrounding commissions make it feel like “Realtor is a bad word.”', '“99% of us are your neighbors.', 'We go through the same things that any buyer and seller do,” she said. “', 'Just like you pay your hairdresser or you landscaper or anybody else for a service, we do provide a good service.”', 'But not all agents think the new rules spell doom for their industry.', 'Crystal Tran, a Realtor in Chicago, said that she thinks asking buyers to agree to payment will “weed out the people who are not serious about homebuying.”', '“I think there’s a lot of confusion out there,” Tran said. “', 'But this is going to make us refine our business to really show our clients our value.”', 'When the dust settles, Tucker said she feels “confident” that her business will still be standing. “', 'Will we be as busy with buyers?', 'I’m not sure.”']",-0.013175087586885494,Some are holding out hope for the best in an uncertain time.,Or it could turn out to be the worst thing ever.” 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.']",0.052132073691834424,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." CNBC invited Trump on its air. The network didn’t even try to stop his lies,https://edition.cnn.com/2024/03/12/media/cnbc-trump-interview-lies/index.html," Published 8:22 AM EDT, Tue March 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. Suffice to say, this was no perfect call. CNBC on Monday made the curious decision to welcome Donald Trump onto its airwaves for an extended live telephone chat, in which the business news network allowed the twice-impeached, four-time indicted, insurrection-inciting former president a safe harbor to make a number of outrageous and false comments without scrutiny. “I believe on the ‘Squawk’ news line, we are joined by former President Donald J. Trump, DJT 45. It is good to welcome you. It’s been a while, Mr. President,” Joe Kernen, co-host of “Squawk Box,” greeted Trump on the air. Almost immediately after commencing the interview, Trump launched into one of his trademark, fact-free rants. Kernen asked the Republican candidate to outline his “vision for the country” following President Joe Biden’s State of the Union address, to which Trump unleashed a stream of deceit-laced drivel. Most notably, he alleged Biden has weaponized the government and that the US legal system under the “very angry and confused man” is now comparable to that of “third-world countries.” Kernen let it all fly. Rather than fact-checking Trump, or at least providing context about the serious allegations he leveled to viewers, the CNBC host brushed the insidious comments aside and attempted to move the interview along. Kernen, trying to conduct a serious interview with a very unserious man, proceeded to asked Trump about his view toward entitlements. But Trump didn’t answer. Instead, he said he disagreed with the premise of the question (that “something has to be done” to rein in entitlement programs) and pivoted to other topics, infusing his rambling response with more lies. The former president, for example, claimed that when he was in office, the country was producing oil at a “much higher level oil” than now. “We were drill, baby, drill,” Trump boasted. But, as those paying attention to the issue know well, Trump’s claim was false. US gas and crude oil production has soared to a record under Biden, surpassing Trump’s term in office. In fact, coincidentally, the US Energy Information Administration put out a press release on Monday noting that in 2023, the US broke all previous records for oil production. Unfortunately, Kernen failed to challenge Trump on the matter. Instead, throughout the interview, the “Squawk” host effectively surrendered the channel’s air to Trump, allowing the dishonest GOP candidate to abuse the platform and mislead its audience of influential viewers — all by phone. To be fair to the “Squawk” crew, it was not only Kernen who had the opportunity to ask Trump questions during the Trump chat. Co-host Andrew Ross Sorkin attempted at times to press Trump on various issues, such as his reversal on whether the US should ban TikTok. While Kernen showed no interest in holding Trump accountable, Sorkin at least tried to compel Trump to include some substance in his responses, though it was largely to no avail. Watching the CNBC interview felt like being transported in time to 2015, back when news outlets allowed Trump to phone in to news shows and deliver a drive-by of lies to their audiences. Even after the interview aired, CNBC waited hours to do the bare minimum and publish digital stories fact-checking some of Trump’s claims. Instead, the outlet quickly spliced Trump’s comments into a handful of clips and posted them online, amplifying his comments further. It is hard to see how any responsible news executive would defend CNBC’s actions as beneficial, nevermind smart. Asked why the network allowed Trump to repeatedly lie on its air without scrutiny, a CNBC spokesperson told me: “We asked former President Trump questions that are important to our audience such as social security and entitlement spending, and challenged him throughout the discussion on business issues like tariffs and their impact on the nation’s relationship with China. Additionally, the CNBC digital team has followed up with reporting throughout the day pointing out areas of inaccuracies and including comments from others questioning his statements.” Regardless of how debatable that characterization is, it is remarkable that after nearly a decade of covering Trump as a politician, prominent news outlets, having witnessed the democracy-threatening effects of Trump’s lies, have reverted to lowering their guardrails, allowing him to once again poison the public discourse with false claims. It’s even more striking given the stakes. Trump has publicly confessed he would like to rule as a strongman and exact revenge on his political opponents, should he win in November. He has even explicitly threatened NBCU News Group parent Comcast over the media giant’s political coverage, calling its chairman Brian Roberts in November a “slime ball” and declaring “our so-called ‘government’ should come down hard on them.” (Trump was notably never asked about these overt threats during his Monday interview on CNBC.) Instead of recognizing the threat Trump poses and assuming a more cautious stance, NBC News Group appears to be moving in the opposite direction. MSNBC has recently started taking Trump’s public remarks live (to the vocal objection of star host Rachel Maddow) and CNBC is now welcoming Trump to its air for friendly chats. At the end of Monday’s “Squawk” interview, Trump claimed his legal problems “aren’t legal issues” but “Biden issues;” falsely claimed Biden installed Fani Willis as the Fulton County district attorney; alleged without evidence Biden has “weaponized government” to target him; raged against E. Jean Carroll and again called her accusation of sexual assault “false,” prompting her attorney to suggest maybe she will sue him again; and ominously warned about the “fragile” state of the country and how “people are rejecting” the government for supposedly targeting him. Kernen, a purported newsman, apparently didn’t find any of those issues worth confronting Trump on. Instead, he thanked Trump for appearing on the program and immediately moved to invite him on again for more interviews. “We appreciate all the time you’ve given us this morning, Mr. President,” Kernen said. “I look forward to another conversation in the not-too-distant future.”",CNN,12/03/2024,"['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.', 'Suffice to say, this was no perfect call.', 'CNBC on Monday made the curious decision to welcome Donald Trump onto its airwaves for an extended live telephone chat, in which the business news network allowed the twice-impeached, four-time indicted, insurrection-inciting former president a safe harbor to make a number of outrageous and false comments without scrutiny.', '“I believe on the ‘Squawk’ news line, we are joined by former President Donald J. Trump, DJT 45.', 'It is good to welcome you.', 'It’s been a while, Mr. President,” Joe Kernen, co-host of “Squawk Box,” greeted Trump on the air.', 'Almost immediately after commencing the interview, Trump launched into one of his trademark, fact-free rants.', 'Kernen asked the Republican candidate to outline his “vision for the country” following President Joe Biden’s State of the Union address, to which Trump unleashed a stream of deceit-laced drivel.', 'Most notably, he alleged Biden has weaponized the government and that the US legal system under the “very angry and confused man” is now comparable to that of “third-world countries.”', 'Kernen let it all fly.', 'Rather than fact-checking Trump, or at least providing context about the serious allegations he leveled to viewers, the CNBC host brushed the insidious comments aside and attempted to move the interview along.', 'Kernen, trying to conduct a serious interview with a very unserious man, proceeded to asked Trump about his view toward entitlements.', 'But Trump didn’t answer.', 'Instead, he said he disagreed with the premise of the question (that “something has to be done” to rein in entitlement programs) and pivoted to other topics, infusing his rambling response with more lies.', 'The former president, for example, claimed that when he was in office, the country was producing oil at a “much higher level oil” than now.', '“We were drill, baby, drill,” Trump boasted.', 'But, as those paying attention to the issue know well, Trump’s claim was false.', 'US gas and crude oil production has soared to a record under Biden, surpassing Trump’s term in office.', 'In fact, coincidentally, the US Energy Information Administration put out a press release on Monday noting that in 2023, the US broke all previous records for oil production.', 'Unfortunately, Kernen failed to challenge Trump on the matter.', 'Instead, throughout the interview, the “Squawk” host effectively surrendered the channel’s air to Trump, allowing the dishonest GOP candidate to abuse the platform and mislead its audience of influential viewers — all by phone.', 'To be fair to the “Squawk” crew, it was not only Kernen who had the opportunity to ask Trump questions during the Trump chat.', 'Co-host Andrew Ross Sorkin attempted at times to press Trump on various issues, such as his reversal on whether the US should ban TikTok.', 'While Kernen showed no interest in holding Trump accountable, Sorkin at least tried to compel Trump to include some substance in his responses, though it was largely to no avail.', 'Watching the CNBC interview felt like being transported in time to 2015, back when news outlets allowed Trump to phone in to news shows and deliver a drive-by of lies to their audiences.', 'Even after the interview aired, CNBC waited hours to do the bare minimum and publish digital stories fact-checking some of Trump’s claims.', 'Instead, the outlet quickly spliced Trump’s comments into a handful of clips and posted them online, amplifying his comments further.', 'It is hard to see how any responsible news executive would defend CNBC’s actions as beneficial, nevermind smart.', 'Asked why the network allowed Trump to repeatedly lie on its air without scrutiny, a CNBC spokesperson told me: “We asked former President Trump questions that are important to our audience such as social security and entitlement spending, and challenged him throughout the discussion on business issues like tariffs and their impact on the nation’s relationship with China.', 'Additionally, the CNBC digital team has followed up with reporting throughout the day pointing out areas of inaccuracies and including comments from others questioning his statements.”', 'Regardless of how debatable that characterization is, it is remarkable that after nearly a decade of covering Trump as a politician, prominent news outlets, having witnessed the democracy-threatening effects of Trump’s lies, have reverted to lowering their guardrails, allowing him to once again poison the public discourse with false claims.', 'It’s even more striking given the stakes.', 'Trump has publicly confessed he would like to rule as a strongman and exact revenge on his political opponents, should he win in November.', 'He has even explicitly threatened NBCU News Group parent Comcast over the media giant’s political coverage, calling its chairman Brian Roberts in November a “slime ball” and declaring “our so-called ‘government’ should come down hard on them.” (', 'Trump was notably never asked about these overt threats during his Monday interview on CNBC.)', 'Instead of recognizing the threat Trump poses and assuming a more cautious stance, NBC News Group appears to be moving in the opposite direction.', 'MSNBC has recently started taking Trump’s public remarks live (to the vocal objection of star host Rachel Maddow) and CNBC is now welcoming Trump to its air for friendly chats.', 'At the end of Monday’s “Squawk” interview, Trump claimed his legal problems “aren’t legal issues” but “Biden issues;” falsely claimed Biden installed Fani Willis as the Fulton County district attorney; alleged without evidence Biden has “weaponized government” to target him; raged against E. Jean Carroll and again called her accusation of sexual assault “false,” prompting her attorney to suggest maybe she will sue him again; and ominously warned about the “fragile” state of the country and how “people are rejecting” the government for supposedly targeting him.', 'Kernen, a purported newsman, apparently didn’t find any of those issues worth confronting Trump on.', 'Instead, he thanked Trump for appearing on the program and immediately moved to invite him on again for more interviews.', '“We appreciate all the time you’ve given us this morning, Mr. President,” Kernen said. “', 'I look forward to another conversation in the not-too-distant future.”']",-0.013840337838957805,"It is hard to see how any responsible news executive would defend CNBC’s actions as beneficial, nevermind smart.","At the end of Monday’s “Squawk” interview, Trump claimed his legal problems “aren’t legal issues” but “Biden issues;” falsely claimed Biden installed Fani Willis as the Fulton County district attorney; alleged without evidence Biden has “weaponized government” to target him; raged against E. Jean Carroll and again called her accusation of sexual assault “false,” prompting her attorney to suggest maybe she will sue him again; and ominously warned about the “fragile” state of the country and how “people are rejecting” the government for supposedly targeting him." Don Lemon says Elon Musk canceled his deal with X after ‘tense’ interview,https://edition.cnn.com/2024/03/13/media/don-lemon-says-elon-deal-canceled/index.html," Updated 8:55 PM EDT, Wed March 13, 2024 ","Don Lemon said Wednesday that his partnership with Elon Musk went down in flames, hours after the former CNN anchor conducted an interview last week with the erratic billionaire for the debut episode of his new independent web-based show. “Elon publicly encouraged me to join X with a new show, saying I would have his ‘full support,’” Lemon said in a statement, adding that he took Musk at his word that he was “interested in working directly with diverse voices.” In an interview with CNN’s Erin Burnett on Wednesday night, Lemon spoke about his exchange with Musk and shared video excerpts from the 90 minute sit-down, in which Lemon asked Musk questions on an array of topics. Lemon said he pressed Musk about the rise in hate speech on X since the billionaire took over the social media platform last year, asking him if he believed that he and the company had a responsibility to moderate hateful content. “I don’t have to answer questions from reporters, Don,” Musk replied. “The only reason I’m doing this interview is because you’re on the X platform and you asked for it. Otherwise, I would not do this interview.” Lemon also asked Musk about a recent meeting he held with former President Donald Trump. CNN previously confirmed the meeting with Musk, one of several Trump held with donors in Palm Beach in recent weeks as he seeks to raise more money for his financially strained campaign. “I was at a breakfast at a friend’s place and Donald Trump came by. That’s it,” Musk said, adding that Trump did “most of the talking.” Musk said Trump, who is facing more than a half a billion dollars in civil judgments and multiple criminal cases playing out in the courts, did not ask him for money. Musk said he was “not paying his legal bills in any way shape or form.” Lemon also brought up Musk’s open use of the drug ketamine, asking the SpaceX founder if he believed it posed a problem for his government security clearance. Musk, Lemon said, answered no because he has a prescription for the drug. In his statement on social media, Lemon said the sit-down he conducted with Musk for the first episode of “The Don Lemon Show,” which will be released Monday on social media platforms including X and YouTube, was “respectful and wide ranging” and that “there were no restrictions on the interview that he willingly agreed to.” “His commitment to a global town square where all questions can be asked and all ideas can be shared seems not to include questions of him from people like me,” Lemon added. In a video posted on his social media Wednesday, Lemon took further aim at Musk’s claim to be a “free speech absolutist.” “Throughout our conversation I kept reiterating to him, although it was tense at times, I thought it was good for people to see our exchange,” Lemon said. “But apparently free speech absolutism doesn’t apply when it comes to questions about him from people like me.” While the interview is not yet public, a person familiar with the matter said Musk was miffed when Lemon questioned him on his use of the drug ketamine, his government security clearance, and the issue of antisemitism. In a statement, X defended Musk’s decision to pull the plug on its agreement with Lemon. “The Don Lemon Show is welcome to publish its content on X, without censorship, as we believe in providing a platform for creators to scale their work and connect with new communities,” the company said in a statement. “However, like any enterprise, we reserve the right to make decisions about our business partnerships, and after careful consideration, X decided not to enter into a commercial partnership with the show.” Asked by a user on X what led to the decision, Musk attacked Lemon and CNN, which is not involved in Lemon’s new venture. “His approach was basically just ‘CNN, but on social media’, which doesn’t work, as evidenced by the fact that CNN is dying,” Musk wrote. “And, instead of it being the real Don Lemon, it was really just [former CNN chief] Jeff Zucker talking through Don, so lacked authenticity.” But a spokesperson for Lemon told CNN that the media personality expects Musk to honor the financial terms of the agreement. “Don has a deal with X and expects to be paid for it,” the spokesperson said. “If we have to go to court we will.” Lemon technically had not inked a contract with X, people familiar with the matter told CNN. But contracts do not necessarily have to be signed to be legally binding, particularly if it is clear each side had arrived at a mutual understanding. And according to the people close to the matter, Lemon’s camp is confident that a deal had effectively been struck, as evidenced by the fact that X had touted the deal in public announcements earlier this year. Moreover, Musk himself appeared to acknowledge that there had been a deal, texting Jay Sures, the UTA power agent who represents Lemon, “contract is canceled,” according to people familiar with the matter. The deal’s implosion comes after Musk urged Lemon to launch a show on his platform, writing last year on X: “It’d be great to have [MSNBC host] Rachel Maddow, Don Lemon & others on the left put their shows on this platform. No exclusivity or legal docs required! You will receive our full support. The digital town square is for all.” In another post, Musk directly appealed to Lemon: “Have you considered doing your show on this platform? Maybe worth a try. Audience is much bigger.” Musk has claimed to believe in free speech absolutism, but he has repeatedly taken steps to limit the speech of critics. The billionaire has at times suspended journalists from his platform and filed lawsuits against watchdogs for publishing reports critical of X. While Musk frequently launches ugly attacks on journalists and traditional news organizations, he has simultaneously elevated conspiracy theories and extremist rhetoric. Last year, Musk endorsed an antisemitic conspiracy theory, which resulted in droves of advertisers fleeing X. Only then, days afterward, did Musk publicly express remorse for his actions. Lemon was ousted from CNN last year, in a decision that the longtime anchor said left him “stunned.” No specific reason was given by CNN for Lemon’s dismissal, but it came after he was widely criticized for making sexist comments about then-GOP presidential candidate Nikki Haley. Lemon apologized for the remarks at the time, saying, “When I make a mistake, I own it. And I own this one as well.” This story has been updated with statements posted on X and additional context.",CNN,13/03/2024,"['Don Lemon said Wednesday that his partnership with Elon Musk went down in flames, hours after the former CNN anchor conducted an interview last week with the erratic billionaire for the debut episode of his new independent web-based show.', '“Elon publicly encouraged me to join X with a new show, saying I would have his ‘full support,’” Lemon said in a statement, adding that he took Musk at his word that he was “interested in working directly with diverse voices.”', 'In an interview with CNN’s Erin Burnett on Wednesday night, Lemon spoke about his exchange with Musk and shared video excerpts from the 90 minute sit-down, in which Lemon asked Musk questions on an array of topics.', 'Lemon said he pressed Musk about the rise in hate speech on X since the billionaire took over the social media platform last year, asking him if he believed that he and the company had a responsibility to moderate hateful content.', '“I don’t have to answer questions from reporters, Don,” Musk replied. “', 'The only reason I’m doing this interview is because you’re on the X platform and you asked for it.', 'Otherwise, I would not do this interview.”', 'Lemon also asked Musk about a recent meeting he held with former President Donald Trump.', 'CNN previouslyconfirmedthe meeting with Musk, one of several Trump held with donors in Palm Beach in recent weeks as he seeks to raise more money for his financially strained campaign.', '“I was at a breakfast at a friend’s place and Donald Trump came by.', 'That’s it,” Musk said, adding that Trump did “most of the talking.”', 'Musk said Trump, who is facing more than a half a billion dollars in civil judgments and multiple criminal cases playing out in the courts, did not ask him for money.', 'Musk said he was “not paying his legal bills in any way shape or form.”', 'Lemon also brought up Musk’s open use of the drug ketamine, asking the SpaceX founder if he believed it posed a problem for his government security clearance.', 'Musk, Lemon said, answered no because he has a prescription for the drug.', 'In his statement on social media, Lemon said the sit-down he conducted with Musk for the first episode of “The Don Lemon Show,” which will be released Monday on social media platforms including X and YouTube, was “respectful and wide ranging” and that “there were no restrictions on the interview that he willingly agreed to.”', '“His commitment to a global town square where all questions can be asked and all ideas can be shared seems not to include questions of him from people like me,” Lemon added.', 'In avideo postedon his social media Wednesday, Lemon took further aim at Musk’s claim to be a “free speech absolutist.”', '“Throughout our conversation I kept reiterating to him, although it was tense at times, I thought it was good for people to see our exchange,” Lemon said. “', 'But apparently free speech absolutism doesn’t apply when it comes to questions about him from people like me.”', 'While the interview is not yet public, a person familiar with the matter said Musk was miffed when Lemon questioned him on his use of the drug ketamine, his government security clearance, and the issue of antisemitism.', 'In a statement, X defended Musk’s decision to pull the plug on its agreement with Lemon.', '“The Don Lemon Show is welcome to publish its content on X, without censorship, as we believe in providing a platform for creators to scale their work and connect with new communities,” the company said in a statement. “', 'However, like any enterprise, we reserve the right to make decisions about our business partnerships, and after careful consideration, X decided not to enter into a commercial partnership with the show.”', 'Asked by a user on X what led to the decision, Musk attacked Lemon and CNN, which is not involved in Lemon’s new venture.', '“His approach was basically just ‘CNN, but on social media’, which doesn’t work, as evidenced by the fact that CNN is dying,” Musk wrote. “', 'And, instead of it being the real Don Lemon, it was really just [former CNN chief] Jeff Zucker talking through Don, so lacked authenticity.”', 'But a spokesperson for Lemon told CNN that the media personality expects Musk to honor the financial terms of the agreement.', '“Don has a deal with X and expects to be paid for it,” the spokesperson said. “', 'If we have to go to court we will.”', 'Lemon technically had not inked a contract with X, people familiar with the matter told CNN.But contracts do not necessarily have to be signed to be legally binding, particularly if it is clear each side had arrived at a mutual understanding.', 'And according to the people close to the matter,Lemon’s camp is confident that a deal had effectively been struck, as evidenced by the fact that X had touted the deal in public announcements earlier this year.', 'Moreover, Musk himself appeared to acknowledge that there had been a deal, texting Jay Sures, the UTA power agent who represents Lemon, “contract is canceled,” according to people familiar with the matter.', 'The deal’s implosion comes after Musk urged Lemon to launch a show on his platform, writing last year on X: “It’d be great to have [MSNBC host] Rachel Maddow, Don Lemon & others on the left put their shows on this platform.', 'No exclusivity or legal docs required!', 'You will receive our full support.', 'The digital town square is for all.”', 'In another post, Musk directly appealed to Lemon: “Have you considered doing your show on this platform?', 'Maybe worth a try.', 'Audience is much bigger.”', 'Musk has claimed to believe in free speech absolutism, but he has repeatedly taken steps to limit the speech of critics.', 'The billionaire has at times suspended journalists from his platform and filed lawsuits against watchdogs for publishing reports critical of X. While Musk frequently launches ugly attacks on journalists and traditional news organizations, he has simultaneously elevated conspiracy theories and extremist rhetoric.', 'Last year, Musk endorsed an antisemitic conspiracy theory, which resulted in droves of advertisers fleeing X. Only then, days afterward, did Musk publicly express remorse for his actions.', 'Lemon was ousted from CNN last year, in a decision that the longtime anchor said left him “stunned.”', 'No specific reason was given by CNN for Lemon’s dismissal, but it came after he was widely criticized for making sexist comments about then-GOP presidential candidate Nikki Haley.', 'Lemon apologized for the remarks at the time, saying, “When I make a mistake, I own it.', 'And I own this one as well.”', 'This story has been updated with statements posted on X and additional context.']",0.09243069665377808,But a spokesperson for Lemon told CNN that the media personality expects Musk to honor the financial terms of the agreement.,"The billionaire has at times suspended journalists from his platform and filed lawsuits against watchdogs for publishing reports critical of X. While Musk frequently launches ugly attacks on journalists and traditional news organizations, he has simultaneously elevated conspiracy theories and extremist rhetoric." Chuck Todd rips NBC News for hiring former RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/24/business/chuck-todd-rips-nbc-news-ronna-mcdaniel/index.html," Updated 5:34 PM EDT, Sun March 24, 2024 ","Former “Meet the Press” moderator Chuck Todd delivered a stunning rebuke of NBC News on Sunday, blasting the network for hiring former Republican National Committee chair Ronna McDaniel as a paid political analyst. Todd, who serves as the network’s chief political analyst, delivered his scathing criticism after McDaniel made her debut on the network during an interview with current “Meet the Press” moderator Kristen Welker. “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. As RNC chair, McDaniel was a prominent election denier, working to help disgraced former President Donald Trump subvert the 2020 vote. She also has a long track record for demonizing the news media, including launching ugly attacks on NBC News journalists and MSNBC hosts. It is unusual and widely considered unethical for a news organization to put an election denier on its payroll, never mind someone who for years has smeared the credibility of the organization and its journalists. Welker disclosed at the top of her Sunday morning program that the interview was scheduled to take place prior to NBC News announcing McDaniel would be a paid contributor. Welker also said she was not involved in McDaniel’s hiring. “I think our bosses owe you an apology for putting you in this situation,” Todd told Welker during the roundtable discussion that followed the interview. A spokesperson for NBC News declined to comment on Todd’s remarks. During her interview Sunday, McDaniel notably diverged from Trump on whether those who attacked the US Capitol on January 6 should be freed from prison. “We should not be attacking the Capitol; we should not be having violence,” she said. Asked why she didn’t offer such condemnation as RNC chairwoman, McDaniel responded, “When you’re the RNC chair, you kind of take one for the whole team. Right now, I get to be a little bit more myself.” McDaniel also reversed her position on whether President Joe Biden was legitimately elected in 2020. In an interview with CNN’s Chris Wallace last year, McDaniel refused to say that Biden’s victory was fair, echoing false claims from Trump in the wake of his electoral defeat. “I don’t think he won it fair,” she told Wallace. “I don’t. I’m not going to say that.” But on Sunday, McDaniel acknowledged that Biden won the 2020 election “fair and square” even as she voiced concern over “problems” with the vote. “I believe that both can be true,” she said. While McDaniel voiced new positions on key issues that became right-wing rallying cries in the wake of the 2020 vote, she largely stood by Trump’s messaging on the current affairs program, effectively using the platform to encourage audience members to vote for Trump in November. But Todd noted that because McDaniel was a paid network contributor, it was not clear whether she was being genuine. “I don’t know what to believe,” Todd said, adding that maybe she “didn’t want to mess up her contract.” In the face of the fierce internal and external backlash it has faced, NBC News has said it is important to have McDaniel’s voice on air to represent the Republican Party position on issues. But Todd disagreed with NBC News’ decision, adding that McDaniel has “credibility issues.” Others on the Sunday broadcast panel agreed with Todd’s assessment. Kimberly Atkins Stohr, a senior opinion writer for the Boston Globe, told Welker that McDaniel is “only here after she got ousted from Trump’s RNC. Her credibility is completely shot.” “I know that she habitually lied, she habitually joined Trump in attacking … members of the press, including this network, in a way that put journalists at risk, in danger,” Stohr said. Stephen Hayes, editor of the conservative online outlet The Dispatch, added that McDaniel has “huge credibility problems, not because she’s been a partisan spinner on behalf of the Republican Party, but because she not only presided but directed, drove, the QAnonization of the Republican Party during her tenure.”",CNN,24/03/2024,"['Former “Meet the Press” moderator Chuck Todd delivered a stunning rebuke of NBC News on Sunday, blasting the network for hiring former Republican National Committee chair Ronna McDaniel as a paid political analyst.', 'Todd, who serves as the network’s chief political analyst, delivered his scathing criticism after McDaniel made her debut on the network during an interview with current “Meet the Press” moderator Kristen Welker.', '“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.', 'As RNC chair, McDaniel was a prominent election denier, working to help disgraced former President Donald Trump subvert the 2020 vote.', 'She also has a long track record for demonizing the news media, including launching ugly attacks on NBC News journalists and MSNBC hosts.', 'It is unusual and widely considered unethical for a news organization to put an election denier on its payroll, never mind someone who for years has smeared the credibility of the organization and its journalists.', 'Welker disclosed at the top of herSunday morningprogram that the interview was scheduled to take place prior to NBC News announcing McDaniel would be a paid contributor.', 'Welker also saidshe was not involved in McDaniel’s hiring.', '“I think our bosses owe you an apology for putting you in this situation,” Todd told Welker during the roundtable discussion that followed the interview.', 'A spokesperson for NBC News declined to comment on Todd’s remarks.', 'During her interview Sunday, McDaniel notably diverged from Trump on whetherthose who attacked the US Capitol on January 6 shouldbe freed from prison.', '“We should not be attacking the Capitol; we should not be having violence,” she said.', 'Asked why she didn’t offer such condemnation as RNC chairwoman, McDaniel responded, “When you’re the RNC chair, you kind of take one for the whole team.', 'Right now,I get to be a little bit more myself.”', 'McDaniel also reversed her position on whether President Joe Biden was legitimately elected in 2020.', 'In an interview with CNN’s Chris Wallace last year, McDaniel refused to say that Biden’s victory was fair, echoing false claims from Trump in the wake of his electoral defeat.', '“I don’t think he won it fair,” she told Wallace. “', 'I don’t.', 'I’m not going to say that.”', 'But on Sunday, McDaniel acknowledged that Biden won the 2020 election “fair and square” even as she voiced concern over “problems” with the vote. “', 'I believe that both can be true,” she said.', 'While McDaniel voiced new positions on key issuesthat became right-wing rallying cries in the wake of the 2020 vote, she largely stood by Trump’s messaging on the current affairs program, effectively using the platform to encourage audience members to vote for Trump in November.', 'But Todd noted that because McDaniel was a paid network contributor, it was not clear whether she was being genuine.', '“I don’t know what to believe,” Todd said, adding that maybe she “didn’t want to mess up her contract.”', 'In the face of the fierce internal and external backlash it has faced, NBC News has said it is important to have McDaniel’s voice on air to represent the Republican Party position on issues.', 'But Todd disagreed with NBC News’ decision, adding that McDaniel has “credibility issues.”', 'Others on the Sunday broadcast panel agreed with Todd’s assessment.', 'Kimberly Atkins Stohr, a senior opinion writer for the Boston Globe, told Welker that McDaniel is “only here after she got ousted from Trump’s RNC.', 'Her credibility is completely shot.”', '“I know that she habitually lied, she habitually joined Trump in attacking … members of the press, including this network, in a way that put journalists at risk, in danger,” Stohr said.', 'Stephen Hayes, editor of the conservative online outlet The Dispatch, added that McDaniel has “huge credibility problems, not because she’s been a partisan spinner on behalf of the Republican Party, but because she not only presided but directed, drove, the QAnonization of the Republican Party during her tenure.”']",-0.019268607403651942,"“I don’t think he won it fair,” she told Wallace. “","“I know that she habitually lied, she habitually joined Trump in attacking … members of the press, including this network, in a way that put journalists at risk, in danger,” Stohr said." H&R Block sues US Federal Trade Commission over tax ads probe,https://edition.cnn.com/2024/03/20/business/h-and-r-block-sues-ftc-tax-ads-probe/index.html," Published 6:49 PM EDT, Wed March 20, 2024 ","H&R Block sued the US Federal Trade Commission on Wednesday, seeking an order that could upend the agency’s case accusing the tax giant of misleading consumers about the scope of its free tax-filing services. The lawsuit in Kansas City, Missouri, federal court claims the FTC’s use of internal administrative law judges to hear cases violates the US Constitution. The FTC last month accused H&R Block of deceiving customers with broad marketing for “free” online tax filing services that really only apply to simple returns. The agency also said H&R Block had unfairly deleted consumers’ tax data. H&R Block has denied the FTC’s claims. A hearing before an administrative judge is set for Oct. 23. Wednesday’s lawsuit cites the power of US presidents enshrined in the Constitution to remove “inferior officers.” It says the FTC’s internal judges are improperly insulated from that authority, and that the agency must abandon their use. “The FTC could still vindicate its law-enforcement interests by conducting the adjudication itself,” the lawsuit said. H&R Block declined to comment on the lawsuit but said it “offers fair and transparent pricing.” The FTC did not immediately respond to a request for comment. The FTC’s administrative law judges preside over hearings and take evidence, and they issue findings that can be appealed to the full commission. The agency then hears arguments and issues a final order. Those decisions can be appealed to a US court. Federal agencies’ use of administrative law judges have been contested in other cases. The US Supreme Court in November heard a challenge to the US Securities and Exchange Commission’s similar proceedings using administrative law judges. The court’s ruling, expected by the end of June, could have broad consequences for such in-house agency tribunals.",CNN,20/03/2024,"['H&RBlocksued the US Federal Trade Commission on Wednesday, seeking an order that could upend the agency’s case accusing the tax giant of misleading consumers about the scope of its free tax-filing services.', 'The lawsuit in Kansas City, Missouri, federal court claims the FTC’s use of internal administrative law judges to hear cases violates the US Constitution.', 'The FTClast month accusedH&RBlockof deceiving customers with broad marketing for “free” online tax filing services that really only apply to simple returns.', 'The agency also said H&RBlockhad unfairly deleted consumers’ tax data.', 'H&RBlockhas denied the FTC’s claims.', 'A hearing before an administrative judge is set for Oct. 23.', 'Wednesday’s lawsuit cites the power of US presidents enshrined in the Constitution to remove “inferior officers.”', 'It says the FTC’s internal judges are improperly insulated from that authority, and that the agency must abandon their use.', '“The FTC could still vindicate its law-enforcement interests by conducting the adjudication itself,” the lawsuit said.', 'H&RBlockdeclined to comment on the lawsuit but said it “offers fair and transparent pricing.”', 'The FTC did not immediately respond to a request for comment.', 'The FTC’s administrative law judges preside over hearings and take evidence, and they issue findings that can be appealed to the full commission.', 'The agency then hears arguments and issues a final order.', 'Those decisions can be appealed to a US court.', 'Federal agencies’ use of administrative law judges have been contested in other cases.', 'The US Supreme Court in Novemberheard a challengeto the US Securities and Exchange Commission’s similar proceedings using administrative law judges.', 'The court’s ruling, expected by the end of June, could have broad consequences for such in-house agency tribunals.']",-0.06198354648145203,The US Supreme Court in Novemberheard a challengeto the US Securities and Exchange Commission’s similar proceedings using administrative law judges.,"The lawsuit in Kansas City, Missouri, federal court claims the FTC’s use of internal administrative law judges to hear cases violates the US Constitution." Here’s why the Fed doesn’t see a US recession in coming years,https://edition.cnn.com/2024/03/24/economy/stocks-week-ahead-fed-recession-coming-years/index.html," Published 7:30 AM EDT, Sun March 24, 2024 ","America’s central bank doesn’t see any signs of a recession on the horizon. Not this year nor the year after. The Federal Reserve’s policymaking committee of 19 officials released a new set of economic projections last week, showing that they now expect economic growth in 2024, 2025 and 2026 to be even stronger than they previously thought. That optimism seems to be the consensus among analysts, including Goldman Sachs’ chief economist: The ruthless economic pains of a recession, such as mass layoffs and tepid consumer spending, probably won’t happen anytime soon. “The economy is strong, the labor market is strong and inflation has come way down,” Fed Chair Jerome Powell said Wednesday. Corporate earnings have been robust, the stock market continues to break record after record and America might be in the thick of a productivity boom that could boost growth without stoking inflation. And even though interest rates are at their highest levels in two decades, the economy continues to display remarkable resilience. Economists say that strength could persist through the coming years. Fed officials continue to expect three rate cuts this year but the days of ultra-low interest rates are long gone. Interest rates will eventually settle down at levels well above the near-zero rates seen before the Fed began to hike in 2022. But economists say that won’t present any problem for the sturdy US economy. “A lot of my peers are calling it higher-for-longer, but it’s really stronger-for-longer,” Mike Skordeles, head of US economics at Truist Advisory Services, told CNN. US gross domestic product, the broadest measure of economic output, registered at a strong 3.2% annualized rate in the fourth quarter. That was after a gangbusters 4.9% rate in the prior three-month period. The Atlanta Fed is currently projecting that the economy expanded at a 2.1% rate in the first three months of 2024. Fed officials estimate that growth in 2024 overall will hit 2.1%, then 2% in each of the following two years. The job market, a key driver of growth, also remains on strong footing. It’s seen a gradual, orderly slowdown from the red-hot pace in 2021, when the labor market ascended from pandemic depths, but unemployment remains low and payroll growth is still humming along. Employers added 275,000 jobs in February, and the unemployment rate edged higher to 3.9% from 3.7%, but it has remained below 4% for more than two years. Jobless claims, a proxy for layoffs and often seen as the earliest indicator of any changes in the job market, remain at historically low levels. Skordeles said the economy is expected to remain solid because of “better productivity than we had prior to the pandemic” and “structural changes in the workforce.” But as rosy as the outlook may be, any unforeseen economic shock could derail growth and lead to a downturn. One risk is the possibility that inflation’s descent does indeed stall. “We do believe that the recession risk has come down,” Stephanie Lang, chief investment officer at Homrich Berg, told CNN. “But the big wild card, of course, is if we get some surprise on the inflation data that the Fed and the market were not expecting.” “If that happens then the Fed will be more tilted toward fighting inflation, so they may be in a situation in which they keep rates restrictive for too long, causing economic growth to come down too far, leading to a recession,” she said. Reddit, one of the original social media companies, finally made its debut on the New York Stock Exchange on Thursday — more than a decade after many of its peers, reports my colleague Clare Duffy. Trading under the ticker “RDDT,” shares started trading at $47 and reached a high of $57.80 early Thursday afternoon, up as much as 70% from its initial price offering of $34. At its peak, shares of the stock had a market cap of about $10.9 billion. It’s a major milestone for the nearly 20-year-old company, something Reddit has been preparing for since at least 2021, when it hired its first chief financial officer. It also marks the first social media company to go public in years, and its performance could be a signpost for other companies considering IPOs. Reddit entered its second official day of trading on Friday with a downward adjustment — shares were down about 8.5% after springing 48% higher following its debut on the New York Stock Exchange. Read more here. Monday: The Chicago Fed releases its National Activity Index for February. The US Commerce Department releases February data on sales of new single-family homes. Fed Governor Lisa Cook delivers remarks. Tuesday: Earnings from McCormick and GameStop. The US Commerce Department releases February figures on new orders for durable goods. S&P Global releases its S&P CoreLogic Case-Shiller National Home Price Index for January. The Conference Board releases its consumer survey for March. Wednesday: Fed Governor Christopher Waller delivers remarks. Thursday: Earnings from Walgreens Boots Alliance. The US Commerce Department releases its final estimate of fourth-quarter gross domestic product. The US Labor Department reports the number of new applications for unemployment benefits in the week ended March 23. The University of Michigan releases its final reading of consumer sentiment in March. The National Association of Realtors reports February home sales based on contract signings. Friday: US markets are closed in observance of Good Friday. The US Commerce Department releases February data on household spending, income and the Fed’s preferred inflation gauge. Fed Chair Jerome Powell delivers remarks.",CNN,24/03/2024,"['America’s central bank doesn’t see any signs of a recession on the horizon.', 'Not this year nor the year after.', 'The Federal Reserve’s policymaking committee of 19 officials released a new set of economic projections last week, showing that they now expect economic growth in 2024, 2025 and 2026 to be even stronger than they previously thought.', 'That optimism seems to be the consensus among analysts, including Goldman Sachs’ chief economist: The ruthless economic pains of a recession, such as mass layoffs and tepid consumer spending, probably won’t happen anytime soon.', '“The economy is strong, the labor market is strong and inflation has come way down,” Fed Chair Jerome Powell said Wednesday.', 'Corporate earnings have been robust, the stock market continues to break record after record and America might be in the thick of a productivity boom that could boost growth without stoking inflation.', 'And even though interest rates are at their highest levels in two decades, the economy continues to display remarkable resilience.', 'Economists say that strength could persist through the coming years.', 'Fed officials continue to expect three rate cuts this year but the days of ultra-low interest rates are long gone.', 'Interest rates will eventually settle down at levels well above the near-zero rates seen before the Fed began to hike in 2022.', 'But economists say that won’t present any problem for the sturdy US economy.', '“A lot of my peers are calling it higher-for-longer, but it’s really stronger-for-longer,” Mike Skordeles, head of US economics at Truist Advisory Services, told CNN.', 'US gross domestic product, the broadest measure of economic output, registered at a strong 3.2% annualized rate in the fourth quarter.', 'That was after a gangbusters 4.9% rate in the prior three-month period.', 'The Atlanta Fed is currently projecting that the economy expanded at a 2.1% rate in the first three months of 2024.', 'Fed officials estimate that growth in 2024 overall will hit 2.1%, then 2% in each of the following two years.', 'The job market, a key driver of growth, also remains on strong footing.', 'It’s seen a gradual, orderly slowdown from the red-hot pace in 2021, when the labor market ascended from pandemic depths, but unemployment remains low and payroll growth is still humming along.', 'Employers added 275,000 jobs in February, and the unemployment rate edged higher to 3.9% from 3.7%, but it has remained below 4% for more than two years.', 'Jobless claims, a proxy for layoffs and often seen as the earliest indicator of any changes in the job market, remain at historically low levels.', 'Skordeles said the economy is expected to remain solid because of “better productivity than we had prior to the pandemic” and “structural changes in the workforce.”', 'But as rosy as the outlook may be, any unforeseen economic shock could derail growth and lead to a downturn.', 'One risk is the possibility that inflation’s descent does indeed stall.', '“We do believe that the recession risk has come down,” Stephanie Lang, chief investment officer at Homrich Berg, told CNN.“But the big wild card, of course, is if we get some surprise on the inflation data that the Fed and the market were not expecting.”', '“If that happens then the Fed will be more tilted toward fighting inflation, so they may be in a situation in which they keep rates restrictive for too long, causing economic growth to come down too far, leading to a recession,” she said.', 'Reddit, one of the original social media companies,finally made its debuton the New York Stock Exchange on Thursday — more than a decade after many of its peers, reports my colleague Clare Duffy.', 'Trading under the ticker “RDDT,” shares started trading at $47 and reached a high of $57.80 early Thursday afternoon, up as much as 70% from its initial price offering of $34.', 'At its peak, shares of the stock had a market cap of about $10.9 billion.', 'It’s a major milestone for the nearly 20-year-old company, something Reddit has been preparing for since at least 2021, when it hired its first chief financial officer.', 'It also marks the first social media company to go public in years, and its performance could be a signpost for other companies considering IPOs.', 'Reddit entered itssecond official day of tradingon Friday with a downward adjustment — shares were down about 8.5% after springing 48% higher following its debut on the New York Stock Exchange.', 'Read more here.', 'Monday: The Chicago Fed releases its National Activity Index for February.', 'The US Commerce Department releases February data on sales of new single-family homes.', 'Fed Governor Lisa Cook delivers remarks.', 'Tuesday: Earnings from McCormick and GameStop.', 'The US Commerce Department releases February figures on new orders for durable goods.', 'S&P Global releases its S&P CoreLogic Case-Shiller National Home Price Index for January.', 'The Conference Board releases its consumer survey for March.', 'Wednesday: Fed Governor Christopher Waller delivers remarks.', 'Thursday: Earnings from Walgreens Boots Alliance.', 'The US Commerce Department releases its final estimate of fourth-quarter gross domestic product.', 'The US Labor Department reports the number of new applications for unemployment benefits in the week ended March 23.', 'The University of Michigan releases its final reading of consumer sentiment in March.', 'The National Association of Realtors reports February home sales based on contract signings.', 'Friday: US markets are closed in observance of Good Friday.', 'The US Commerce Department releases February data on household spending, income and the Fed’s preferred inflation gauge.', 'Fed Chair Jerome Powell delivers remarks.']",0.07940729225990328,"Corporate earnings have been robust, the stock market continues to break record after record and America might be in the thick of a productivity boom that could boost growth without stoking inflation.",But economists say that won’t present any problem for the sturdy US economy. Key takeaways from the Fed’s rate decision and Powell’s press conference,https://edition.cnn.com/2024/03/20/economy/what-to-expect-from-the-fed-meeting/index.html," Updated 10:04 PM EDT, Wed March 20, 2024 ","The Federal Reserve held its key interest rate steady Wednesday for the fifth consecutive meeting, as the central bank awaits more data to determine when to cut rates. The Fed has raised rates aggressively over the past two years in a bid to fight the highest inflation in decades. But while Americans continue to deal with high interest rates and inflation, Fed Chair Jerome Powell said the central bank is still not ready to lower borrowing costs just yet. Wall Street is betting that the first rate cut will come in the summer. Fed officials are facing the difficult task of balancing the risk of cutting too soon with the risk of cutting too late — both of which come with consequences. That’s why the timing of that first rate cut is so critical, because it could either undo the progress the Fed has seen, if officials cut too soon, or it could fail to prevent the economy from sharply deteriorating, if officials cut too late. Fed officials also released a fresh set of economic projections Wednesday. They show that central bank officials now expect fewer rate cuts in the coming years than they estimated in December. A majority of Fed policymakers continue to expect three rate cuts this year, but they now see fewer in 2025 and 2026. They expect interest rates in the longer run to be slightly higher than they projected in December. Economic growth is also expected to be much higher this year than officials estimated. Officials also reflected in their latest estimates that they expect “core” inflation, a measure that strips out volatile food and energy prices, to be higher this year than previously thought. US stocks broadly soared to new highs Wednesday, with the S&P 500 topping the 5,200 level for the first time ever, closing 0.9% higher. The blue-chip Dow also reached a new record, up 401 points, or 1%, at 39,511.34; and the tech-heavy Nasdaq hit 16,369.41, also a new high. Here are some key takeways from the Fed’s latest decision. Powell said “we continue to make good progress in bringing inflation down,” but it has become evident there are some persistent price pressures in housing and the services sector. That could be worrisome for the Fed as it faces the final stretch of its historic inflation fight. Rising shelter costs and a sharp climb in gas prices pushed up consumer prices in February, according to the latest Consumer Price Index. The Fed chief repeated his usual phrase that inflation’s journey back down to 2% will be a bumpy one. “We’ve got nine months of 2.5% inflation, now we’ve had two months of kind of bumpy inflation,” Powell said Wednesday in a post-meeting press conference. “Now, there were some bumps and the question is, are they more than bumps? And we can’t know that, that’s why we are approaching this question carefully.” Economists like to look at data over several months to strip out any “noise,” or month-to-month fluctuations, and make sense of any durable trends. That’s how the Fed is approaching the current situation with inflation; waiting for more data to know if inflation has indeed stalled. Powell added there might have also been some “seasonal effects” that skewed data for January. Asked about the role of rising shelter costs in pushing up inflation, Powell said there is “some confidence that the lower market rents we’re seeing will show up over time, but there’s a little bit of uncertainty about when that will happen.” Chair Powell laid out the risks of cutting too soon versus cutting too late, explaining that the Fed is still in wait-and-see mode because there simply isn’t any urgency to cut rates. “It is consequential,” Powell said. “Fortunately, with the economy growing, with the labor market strong and inflation coming down, we can approach that question carefully and let the data speak on that.” Powell said officials want to “feel more confident” inflation is headed toward the central bank’s 2% target. Wednesday’s policy statement also made that clear. “The Committee does not expect it will be appropriate to reduce the targetrange until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” it said. America’s economy remains solid by many measures and in Powell’s own view. “The economy is strong, the labor market is strong and inflation has come way down,” he said. Economic growth in the first quarter is expected to register at a healthy 2.1% annualized rate, according to the Atlanta Fed’s latest projection, following two straight quarters of growth above a robust 3%. The job market is still humming along, with employers continuing to add jobs at a brisk pace while unemployment remains low. The jobless rate edged higher in February, to 3.9% from 3.7%, but it has remained below 4% for more than two years. Jan Hatzius, chief economist at Goldman Sachs, recently told CNN that “it doesn’t look like the economy is anywhere close to a recession.” If the job market does weaken more than expected in the coming months, that could change the path of monetary policy. “If you look historically, we’re high. And the longer we stay at that — if inflation continues falling — we’re going to have to start thinking about the employment side of the mandate,” Chicago Fed President Austan Goolsbee told CNBC earlier this month. It’s also possible that the US economy’s persistent strength could be standing in the way of any further improvement on the inflation front. Officials also consider the role of productivity when assessing growth, which boomed last year. Consumer spending also remains healthy, but it has cooled down from the red-hot pace in the summer. Spending fell sharply in January, mostly due to the unseasonably cold weather, but the Commerce Department’s latest report on retail spending showed that there was a rebound in February. Broader figures on consumer spending in February are due later this month.",CNN,20/03/2024,"['TheFederal Reserveheld its key interest rate steady Wednesday for the fifth consecutive meeting, as the central bank awaits more data to determine when to cutrates.', 'TheFedhas raisedratesaggressively over the past two years in a bid to fight the highestinflationin decades.', 'But while Americans continue to deal with high interestratesandinflation,FedChair Jerome Powell said the central bank is still not ready to lower borrowing costs just yet.', 'Wall Street is betting that the first rate cut will come in the summer.', 'Fedofficials are facing the difficult task of balancing the risk of cutting too soon with the risk of cutting too late — both of which come with consequences.', 'That’s why the timing of that first rate cut is so critical, because it could either undo the progress theFedhas seen, if officials cut too soon, or it could fail to prevent theeconomyfrom sharply deteriorating, if officials cut too late.', 'Fedofficials also released a fresh set of economic projections Wednesday.', 'They show that central bank officials now expect fewer rate cuts in the coming years than they estimated in December.', 'A majority ofFedpolicymakers continue to expect three rate cuts this year, but they now see fewer in 2025 and 2026.', 'They expect interestratesin the longer run to be slightly higher than they projected in December.', 'Economic growth is also expected to be much higher this year than officials estimated.', 'Officials also reflected in their latest estimates that they expect “core”inflation, a measure that strips out volatile food and energy prices, to be higher this year than previously thought.', 'US stocks broadly soared to new highs Wednesday, with the S&P 500 topping the 5,200 level for the first time ever, closing 0.9% higher.', 'The blue-chip Dow also reached a new record, up 401 points, or 1%, at 39,511.34; and the tech-heavy Nasdaq hit 16,369.41, also a new high.', 'Here are some key takeways from the Fed’s latest decision.', 'Powell said “we continue to make good progress in bringing inflation down,” but it has become evident there are some persistent price pressures inhousingand the services sector.', 'That could be worrisome for theFedas it faces the final stretch of its historicinflationfight.', 'Rising shelter costs and a sharp climb in gas prices pushed up consumer prices in February, according to the latest Consumer Price Index.', 'The Fed chief repeated his usual phrase that inflation’s journey back down to 2% will be a bumpy one.', '“We’ve got nine months of 2.5% inflation, now we’ve had two months of kind of bumpy inflation,” Powell said Wednesday in a post-meeting press conference. “', 'Now, there were some bumps and the question is, are they more than bumps?', 'And we can’t know that, that’s why we are approaching this question carefully.”', 'Economists like to look at data over several months to strip out any “noise,” or month-to-month fluctuations, and make sense of any durable trends.', 'That’s how the Fed is approaching the current situation with inflation; waiting for more data to know if inflation has indeed stalled.', 'Powell added there might have also been some “seasonal effects” that skewed data for January.', 'Asked about the role of rising shelter costs in pushing up inflation, Powell said there is “some confidence that the lower market rents we’re seeing will show up over time, but there’s a little bit of uncertainty about when that will happen.”', 'Chair Powell laid out the risks of cutting too soon versus cutting too late, explaining that the Fed is still in wait-and-see mode because there simply isn’t any urgency to cut rates.', '“It is consequential,” Powell said. “', 'Fortunately, with the economy growing, with the labor market strong and inflation coming down, we can approach that question carefully and let the data speak on that.”', 'Powell said officials want to “feel more confident” inflation is headed toward the central bank’s 2% target.', 'Wednesday’s policy statement also made that clear.', '“The Committee does not expect it will be appropriate to reduce the targetrange until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” it said.', 'America’seconomyremains solid by many measures and in Powell’s own view.', '“The economy is strong, the labor market is strong and inflation has come way down,” he said.', 'Economic growth in the first quarter is expected to register at a healthy 2.1% annualized rate, according to the AtlantaFed’s latest projection, following two straight quarters of growth above a robust 3%.', 'The job market is still humming along, with employers continuing to addjobsat a brisk pace whileunemploymentremains low.', 'The jobless rate edged higher in February, to 3.9% from 3.7%, but it has remained below 4% for more than two years.', 'Jan Hatzius, chief economist at Goldman Sachs, recently told CNN that “it doesn’t look like the economy is anywhere close to a recession.”', 'If the job market does weaken more than expected in the coming months, that could change the path of monetary policy.', '“If you look historically, we’re high.', 'And the longer we stay at that — ifinflationcontinues falling — we’re going to have to start thinking about theemploymentside of the mandate,” ChicagoFedPresident Austan Goolsbee told CNBC earlier this month.', 'It’s also possible that the USeconomy’s persistent strength could be standing in the way of any further improvement on theinflationfront.', 'Officials also consider the role of productivity when assessing growth, which boomed last year.', 'Consumer spending also remains healthy, but it has cooled down from the red-hot pace in the summer.', 'Spending fell sharply in January, mostly due to the unseasonably cold weather, but the Commerce Department’s latest report on retail spending showed that there was a rebound in February.', 'Broader figures on consumer spending in February are due later this month.']",0.06676502488414274,"Economic growth in the first quarter is expected to register at a healthy 2.1% annualized rate, according to the AtlantaFed’s latest projection, following two straight quarters of growth above a robust 3%.","That’s why the timing of that first rate cut is so critical, because it could either undo the progress theFedhas seen, if officials cut too soon, or it could fail to prevent theeconomyfrom sharply deteriorating, if officials cut too late." Fisker shares halted as EV company navigates uncertain future,https://edition.cnn.com/2024/03/25/cars/fisker-shares-halted-ev-company-uncertain-future/index.html," Updated 5:34 PM EDT, Mon March 25, 2024 ","Shares of Fisker, a California-based electric vehicle startup, were halted Monday. This comes after the company warned, in an earnings report in March, that it might not have enough cash to survive the year. Later in the day, the New York Stock Exchange announced it planned to delist Fisker’s stock due to “abnormally low” price levels. That delisting will mean the company must offer to buy back bonds that are currently due in 2026 and to immediately pay off other debts due in 2025, according to a filing the company made with the Securities and Exchange Commission. “We do not currently have sufficient cash reserves or financing sources sufficient to satisfy all amounts due under the 2026 Notes or the 2025 Notes, and as a result, such events could have a material adverse effect on our business, results of operations and financial condition,” Fisker said in its filing. Fisker’s shares traded for as much as $28 in February of 2021, valuing the company at just under $8 billion, but its shares now currently trade for less than 10 cents per share, reducing the EV car maker’s total market capitalization to less than $50 million Fisker had also previously said it was in talks with a major, established automaker but, those talks have fallen apart without a deal, according to a regulatory filing Fisker made Monday. The company’s troubles are another sign of the headwinds and speed bumps for the burgeoning EV industry. Reuters had reported it was in talks with Nissan, citing unnamed sources familiar with the discussions. Those talks centered on Fisker’s planned electric pickup, the Alaska, according to the report. Fisker was founded by its chief executive officer, auto designer Henrik Fisker, in 2016. Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr. Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers. Henrik Fisker had expected that outsourcing manufacturing to Magna, a company that also builds cars for Mercedes, BMW, Jaguar and others, would reduce the companies risks because it wouldn’t have to invest in its own manufacturing facilities. Fisker had also announced plans to produce a small, affordable EV called the Pear. Foxconn, the Taiwanese electronics company best known for manufacturing Apple’s iPhones, had been in discussions to produce the Pear at a Foxconn-owned factory in Ohio. Those talks never came to fruition. And more bad news has been mounting for the company recently. The Ocean was the subject of a scathing review by American YouTube tech personality Marques Brownlee. The video was titled, “This is the Worst Car I’ve Ever Reviewed.” “Do not buy this version of the Fisker Ocean,” reads the video’s description. Brownlee’s video has racked up more than 4.5 million views so far, and it sent Fisker’s stock price plunging after its release. Consumer Reports also recently published its own review of the Ocean panning its ride quality and software although the reviewers did like its cargo space, rear seat legroom and large glass moonroof. Henrik Fisker admitted, in an interview with the industry newspaper Automotive News, that the Ocean had quality problems. He blamed the issues on software from various suppliers that worked poorly together. He said the problems were being addressed through software updates. But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established. Now, besides Tesla, companies like Hyundai, Kia, Ford and General Motors offer electric SUVs that are substantially similar to the Ocean and without the risks of dealing with an unknown startup.",CNN,25/03/2024,"['Shares of Fisker, a California-based electric vehicle startup, were halted Monday.', 'This comes after the company warned, in an earnings report in March, that it might not have enough cash to survive the year.', 'Later in the day, the New York Stock Exchange announced it planned to delist Fisker’s stock due to “abnormally low” price levels.', 'That delisting will mean the company must offer to buy back bonds that are currently due in 2026 and to immediately pay off other debts due in 2025, according to a filing the company made with the Securities and Exchange Commission.', '“We do not currently have sufficient cash reserves or financing sources sufficient to satisfy all amounts due under the 2026 Notes or the 2025 Notes, and as a result, such events could have a material adverse effect on our business, results of operations and financial condition,” Fisker said in its filing.', 'Fisker’s shares traded for as much as $28 in February of 2021, valuing the company at just under $8 billion, but its shares now currently trade for less than 10 cents per share, reducing the EV car maker’s total market capitalization to less than $50 million Fisker had also previously said it was in talks with a major, established automaker but, those talks have fallen apart without a deal, according to a regulatory filing Fisker made Monday.', 'The company’s troubles are another sign of the headwinds and speed bumps for the burgeoning EV industry.', 'Reuters had reported it was in talks with Nissan, citing unnamed sources familiar with the discussions.', 'Those talks centered on Fisker’s planned electric pickup, the Alaska, according to the report.', 'Fisker was founded by its chief executive officer, auto designer Henrik Fisker, in 2016.', 'Its sole product, the Fisker Ocean electric SUV, was produced in Austria under contract by third-party manufacturer Magna Steyr.', 'Last year, 10,000 SUVs were produced but, in its earnings report, the company said only about half had been delivered to customers.', 'Henrik Fisker had expected that outsourcing manufacturing to Magna, a company that also builds cars for Mercedes, BMW, Jaguar and others, would reduce the companies risks because it wouldn’t have to invest in its own manufacturing facilities.', 'Fisker had also announced plans to produce a small, affordable EV called the Pear.', 'Foxconn, the Taiwanese electronics company best known for manufacturing Apple’s iPhones, had been in discussions to produce the Pear at a Foxconn-owned factory in Ohio.', 'Those talks never came to fruition.', 'And more bad news has been mounting for the company recently.', 'The Ocean was the subject of a scathing review by American YouTube tech personality Marques Brownlee.', 'The video wastitled, “This is the Worst Car I’ve Ever Reviewed.”', '“Do not buy this version of the Fisker Ocean,” reads the video’s description.', 'Brownlee’s video has racked up more than 4.5 million views so far, and it sent Fisker’s stock price plunging after its release.', 'Consumer Reports also recently published its own review of the Ocean panning its ride quality and software although the reviewers did like its cargo space, rear seat legroom and large glass moonroof.', 'Henrik Fisker admitted, in an interview with the industry newspaper Automotive News, that the Ocean had quality problems.', 'He blamed the issues on software from various suppliers that worked poorly together.', 'He said the problems were being addressed through software updates.', 'But, besides its own quality issues, Fisker had to deal with much greater competition from established automakers than had existed when the company was established.', 'Now, besides Tesla, companies like Hyundai, Kia, Ford and General Motors offer electric SUVs that are substantially similar to the Ocean and without the risks of dealing with an unknown startup.']",-0.030175502610655026,"Foxconn, the Taiwanese electronics company best known for manufacturing Apple’s iPhones, had been in discussions to produce the Pear at a Foxconn-owned factory in Ohio.","The video wastitled, “This is the Worst Car I’ve Ever Reviewed.”" Trader Joe’s just increased the price of a banana for the first time in more than 20 years,https://edition.cnn.com/2024/03/25/business/trader-joes-banana-price-increase/index.html," Published 4:11 PM EDT, Mon March 25, 2024 ","Food prices have gone a bit bananas — and that includes a famously priced 19-cent fruit at Trader Joe’s. The snack-heavy grocer told CNN on Monday that it recently increased the price of the banana to 23 cents, a more than 20% increase. “We only change our prices when our costs change, and after holding our price for Bananas at 19¢ each for more than two decades, we’ve now reached a point where this change is necessary,” a Trader Joe’s spokesperson said to CNN. Stores have carved out loyal fanbases and distinguished themselves from competition by sticking to low-cost deals that become synonymous to the brand (think Costco’s $1.50 hot dog). Though overall food inflation hasn’t been rising as fast as it has been, Americans are still seeing the effects in the grocery store. The 19-cent banana is a well-known deal at Trader Joe’s — so much so that it’s ranked as the favorite piece of produce by the company’s customers. Bananas have managed to remain affordable for most Americans. Demand in recent years for bananas in the US has been driven primarily by the fruit’s affordability, according to a 2023 report by the Food and Agriculture Organization of the United Nations. The report also noted that prices at the retail level remained mostly unchanged in 2023. That’s because of fierce grocery store competition and bananas’ role as a loss leader, or an item that is purposefully priced lower to attract customers and encourage them to buy more expensive products. The average price of bananas in the US has remained steady from February 2023 to February 2024, according to the Bureau of Labor Statistics, at 62 to 64 cents a pound throughout the year. However, CBS News reported that experts from the World Banana Forum in March warned that climate change and rising temperatures can drive up banana prices. Trader Joe’s noted it has been able to lower prices for some of its other produce, such as raw almonds, romaine hearts, organic tri-color bell peppers, and green onions. In the first episode of the “Inside Trader Joe’s” podcast, former CEO Dan Bane said when the stores used to sell them by the pound, he asked an older customer why she didn’t take a bag of bananas after browsing through them. “She says to me, ‘Sonny… I may not live to that fourth banana.’ And so we decided the next day we were going to sell individual bananas. And they’ve been 19 cents ever since,” Bane said.",CNN,25/03/2024,"['Food prices have gone a bit bananas — and that includes a famously priced 19-cent fruit at Trader Joe’s.', 'The snack-heavy grocer told CNN on Monday that it recently increased the price of the banana to 23 cents, a more than 20% increase.', '“We only change our prices when our costs change, and after holding our price for Bananas at 19¢ each for more than two decades, we’ve now reached a point where this change is necessary,” a Trader Joe’s spokesperson said to CNN.', 'Stores have carved out loyal fanbases and distinguished themselves from competition by sticking to low-cost deals that become synonymous to the brand (think Costco’s $1.50 hot dog).', 'Though overall food inflation hasn’t been rising as fast as it has been, Americans are still seeing the effects in the grocery store.', 'The 19-cent banana is a well-known deal at Trader Joe’s — so much so that it’s ranked as the favorite piece of produce by the company’s customers.', 'Bananas have managed to remain affordable for most Americans.', 'Demand in recent years for bananas in the US has been driven primarily by the fruit’s affordability, according to a 2023 report by the Food and Agriculture Organization of the United Nations.', 'The report also noted that prices at the retail level remained mostly unchanged in 2023.', 'That’s because of fierce grocery store competition and bananas’ role as a loss leader, or an item that is purposefully priced lower to attract customers and encourage them to buy more expensive products.', 'The average price of bananas in the US has remained steady from February 2023 to February 2024, according to the Bureau of Labor Statistics, at 62 to 64 cents a pound throughout the year.', 'However, CBS News reported that experts from the World Banana Forum in March warned that climate change and rising temperatures can drive up banana prices.', 'Trader Joe’s noted it has been able to lower prices for some of its other produce, such as raw almonds, romaine hearts, organic tri-color bell peppers, and green onions.', 'In the first episode of the “Inside Trader Joe’s” podcast, former CEO Dan Bane said when the stores used to sell them by the pound, he asked an older customer why she didn’t take a bag of bananas after browsing through them.', '“She says to me, ‘Sonny… I may not live to that fourth banana.’', 'And so we decided the next day we were going to sell individual bananas.', 'And they’ve been 19 cents ever since,” Bane said.']",0.09244817046715534,The 19-cent banana is a well-known deal at Trader Joe’s — so much so that it’s ranked as the favorite piece of produce by the company’s customers.,"Trader Joe’s noted it has been able to lower prices for some of its other produce, such as raw almonds, romaine hearts, organic tri-color bell peppers, and green onions." 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. "Self-proclaimed bitcoin inventor is not ‘Satoshi Nakamoto,’ UK judge rules",https://edition.cnn.com/2024/03/14/tech/uk-bitcoin-not-satoshi-nakamoto-hnk-intl/index.html," Updated 12:34 AM EDT, Fri March 15, 2024 ","London — An Australian computer scientist who claims he invented bitcoin is not “Satoshi Nakamoto,” the pseudonymous inventor of the cryptocurrency, a judge at London’s High Court ruled on Thursday. Craig Wright has long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published under the pseudonym. The Crypto Open Patent Alliance (COPA) took Wright to court to stop him suing bitcoin developers, asking for a ruling that Wright was not Satoshi. Judge James Mellor said at the end of closing arguments on Thursday that the evidence Wright was not Satoshi was “overwhelming.” “Dr Wright is not the author of the Bitcoin white paper,” Mellor said. “Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011.” COPA, whose members include Twitter founder Jack Dorsey’s payments firm Block (SQ), said the ruling was “a win for developers, for the entire open source community and for the truth.” “For over eight years, Dr Wright and his financial backers have lied about his identity as Satoshi Nakamoto and used that lie to bully and intimidate developers in the bitcoin community,” a COPA spokesperson said in a statement. “That ends today with the court’s ruling that Craig Wright is not Satoshi Nakamoto.” A spokesperson for Wright said he was “not prepared to speak to anyone at this time.” COPA had accused Wright of repeatedly forging documents to substantiate his claim, including during the trial itself, which Wright denied when he gave evidence. Its lawyer, Jonathan Hough, said at the start of the trial in February that Wright’s claim was “a brazen lie, an elaborate false narrative supported by forgery on an industrial scale.” Hough said that “there are elements of Dr Wright’s conduct that stray into farce,” citing his alleged use of ChatGPT to produce forgeries. But he added: “Dr Wright’s conduct is also deadly serious. On the basis of his dishonest claim to be Satoshi, he has pursued claims he puts at hundreds of billions of dollars, including against numerous private individuals.” Wright’s lawyers, however, argued in court filings that he had produced “clear evidence demonstrating his authorship of the white paper and creation of bitcoin.” In their closing arguments, COPA’s lawyers asked Mellor to refer the case to Britain’s Crown Prosecution Service “for consideration of prosecution for the offenses of perjury and perverting the course of justice.” Mellor did not indicate whether or not he would do so.",CNN,15/03/2024,"['London — An Australian computer scientist who claims he invented bitcoin is not “SatoshiNakamoto,” the pseudonymous inventor of the cryptocurrency, a judge at London’s High Court ruled on Thursday.', 'Craig Wright has long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published under the pseudonym.', 'The Crypto Open Patent Alliance (COPA)took Wright to courtto stop him suing bitcoin developers, asking for a ruling that Wright was notSatoshi.', 'Judge James Mellor said at the end of closing arguments on Thursday that the evidence Wright was notSatoshiwas “overwhelming.”', '“Dr Wright is not the author of the Bitcoin white paper,” Mellor said. “', 'Dr Wright is not the person who adopted or operated under the pseudonymSatoshiNakamoto in the period 2008 to 2011.”', 'COPA, whose members include Twitter founder Jack Dorsey’s payments firm Block(SQ), said the ruling was “a win for developers, for the entire open source community and for the truth.”', '“For over eight years, Dr Wright and his financial backers have lied about his identity asSatoshiNakamoto and used that lie to bully and intimidate developers in the bitcoin community,” a COPA spokesperson said in a statement.', '“That ends today with the court’s ruling that Craig Wright is notSatoshiNakamoto.”', 'A spokesperson for Wright said he was “not prepared to speak to anyone at this time.”', 'COPA had accused Wright of repeatedly forging documents to substantiate his claim, including during the trial itself, which Wright denied whenhe gave evidence.', 'Its lawyer, Jonathan Hough, said at the start of the trial in February that Wright’s claim was “a brazen lie, an elaborate false narrative supported by forgery on an industrial scale.”', 'Hough said that “there are elements of Dr Wright’s conduct that stray into farce,” citing his alleged use of ChatGPT to produce forgeries.', 'But he added: “Dr Wright’s conduct is also deadly serious.', 'On the basis of his dishonest claim to beSatoshi, he has pursued claims he puts at hundreds of billions of dollars, including against numerous private individuals.”', 'Wright’s lawyers, however, argued in court filings that he had produced “clear evidence demonstrating his authorship of the white paper and creation of bitcoin.”', 'In their closing arguments, COPA’s lawyers asked Mellor to refer the case to Britain’s Crown Prosecution Service “for consideration of prosecution for the offenses of perjury and perverting the course of justice.”', 'Mellor did not indicate whether or not he would do so.']",-0.1734526306101531,"COPA, whose members include Twitter founder Jack Dorsey’s payments firm Block(SQ), said the ruling was “a win for developers, for the entire open source community and for the truth.”","In their closing arguments, COPA’s lawyers asked Mellor to refer the case to Britain’s Crown Prosecution Service “for consideration of prosecution for the offenses of perjury and perverting the course of justice.”" Rate cut in June or July? What matters is the Fed wants to get started,https://edition.cnn.com/2024/03/25/investing/premarket-stocks-trading/index.html," Updated 12:45 PM EDT, Mon March 25, 2024 ","Last week was the kind that investors dream about. Markets vaulted higher after the Federal Reserve policy meeting concluded on Wednesday — the S&P 500 and Dow Jones Industrial Average closed with two back-to-back record highs and the tech-heavy Nasdaq Composite notched three consecutive highs before breaking for the weekend. The S&P 500 knocked past the key threshold level of 5,200 and the Dow had its best week of the year. A lot of people made a lot of money. So where do we go from here? Before the Bell spoke with David Mericle, Goldman Sachs’ chief US economist, to discuss what exactly investors were celebrating, whether it can continue and why he thinks the chance of a recession are just about as low as they can be. This interview has been edited for length and clarity. Before the Bell: It’s an understatement to say that Wall Street was happy with the results of last week’s Federal Reserve policy meeting. Markets have rallied to new highs, and a global rally is underway. But the meeting left things exactly where they were. Is it possible that investors are celebrating a bit too hard, and could this rally soon lose momentum? David Mericle: I do think we learned something this week: The next few inflation prints don’t need to be amazing for [the Fed] to follow through on cutting rates in June. They stuck to that three-cut median in the dot plot despite raising their inflation forecast by two-tenths of a percentage point for this year. So our basic assumption is that [inflation data from] January and February will prove to be outliers and that, going forward, we will see inflation step back down to something like the pace that we were running at in the back half of last year. The message from the FOMC [Federal Open Market Committee] is that even if [inflation rates aren’t] as low as what we’re forecasting, there’s still a little bit of wiggle room to nevertheless deliver that June cut. The leadership seems to feel pretty strongly about not waiting indefinitely to get started. So markets didn’t really know exactly what we needed to see on inflation prior to this week, and now we found out that we need to see a little bit less. That’s positive information for markets. Markets still seem somewhat uncertain about whether the first rate hike will be in June or July. We still have three rounds of inflation reports ahead of us before June. It’s still three months off. Markets probably shouldn’t be pricing in anything with too much certainty at that horizon. But the meeting did have some impact on market pricing. [About 70% of investors now think a rate cut will occur in June, according to the CME FedWatch tool.] Goldman Sachs is currently predicting a 15% chance of recession over the next 12 months, down from 35% last year. What’s the significance of that change? That was a meaningful change from 35% down to 15%. And the reason that we made that change was we felt we had sufficient evidence that two things that we worried about in real time had worked out. One was that the hard part of the inflation fight was over. Inflation expectations were back to normal, and the labor market had largely rebalanced to its pre-pandemic state without the unemployment rate going up. Seeing that happen made us more confident that the Fed wouldn’t be forced to cause a recession in order to get inflation down. The other thing was that we learned enough about the regional banking stress of last spring to not worry as much anymore. Once those two risks had passed, it’s not that there was no probability of recession. There’s always some — in late 2019 we thought the probability of recession was very low. It’s a good reminder that unexpected things like the pandemic can always surprise us. So we always want to make some allowance for that. The reason we say 15% risk is because that is roughly the historical unconditional average. So if you were just in a typical year and there was nothing particularly distinctive to worry about, we would say the recession risk was 15% over the next 12 months. But the reasons that we saw the recession probability as higher than usual I feel today are behind us. So a 15% recession rate is baseline for you, it will never go below that number? By looking back at recent history, we can think of it as how often when we weren’t in recession have we gone into recession over the next 12 months. Are we thinking about recession in the wrong way? Some economists say we’ve been in a rolling recession over the last few years.  I think the way we define recession, through the National Bureau of Economic Research’s Business Cycle Dating Committee, is a holistic approach that looks at many different sources of data. The way that we do this, looking at a variety of data, is a sensible way of doing it. Are we in an unprecedented economic environment right now?  There have been a lot of unprecedented things that have occurred over the last few years, but at this point, I think we are moving back into more familiar territory. We’re not there yet, obviously. But broadly we are gliding back to that pre-pandemic dynamic where we had a very strong labor market by historical standards but did not have an inflation problem. The key thing that’s different is that interest rates are likely to wind up meaningfully higher than they were last cycle. But if your historical memory stretches beyond last cycle, then where interest rates are likely to settle this time around doesn’t look unprecedented. Broadly, we seem to be heading back to somewhere pretty familiar — basically, where we left off. The Federal Aviation Administration warned Saturday its increased oversight of United Airlines — after a string of nearly a dozen incidents on flights this month — may mean the troubled airline will have to put some of its future plans on hold. “Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “Certification activities in process may be allowed to continue, but future projects may be delayed based on findings from oversight.” The FAA also said it would initiate an evaluation of the company’s safety management and compliance, reported my colleague Samantha Delouya. The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon, missing an external panel on March 15. In a Friday memo, United told employees they would start seeing “more of an FAA presence in our operation as they begin to review some of our work processes, manuals and facilities.” United said the FAA’s review would mean an “even closer look at multiple areas of our operation to ensure we are doing all we can to promote and drive safety compliance.” By as soon as May, more than 23 million US households risk being kicked off their internet plans or facing skyrocketing bills that force them to pay hundreds more per year to get online, according to the Federal Communications Commission (FCC). The looming disaster could affect nearly 1 in 5 households nationwide, or nearly 60 million Americans, going by Census Bureau population estimates. Such broad disruptions to internet access would affect people’s ability to do schoolwork, to seek and do jobs, to visit their doctors virtually or refill prescriptions online, or to connect to public services, widening the digital divide between have and have-nots and potentially leading to economic instability on a massive scale. The crisis is linked to a critical government program expected to run out of funding at the end of April. Known as the Affordable Connectivity Program (ACP), the benefit provides discounts on internet service valued at up to $30 per month to qualifying low-income households, or up to $75 per month for eligible recipients on tribal lands. Lawmakers have known for months about the approaching deadline. Yet Congress is nowhere close to approving the $6 billion that President Joe Biden says would renew the ACP and avert calamity for tens of millions of Americans. This past week, congressional leaders missed what advocates say was the last, best legislative opportunity for funding the ACP: The 11th-hour budget deal designed to avert a government shutdown. The bill text released this week includes no money for the program, heightening the odds of an emergency that will plunge millions into financial distress just months before the pivotal 2024 election. Now, with time running out for the ACP, the FCC has been forced to begin shutting down the program — halting new signups and warning users their benefits are about to be suspended. Read more here.",CNN,25/03/2024,"['Last week was the kind that investors dream about.', 'Markets vaulted higher after the Federal Reserve policy meeting concluded on Wednesday — the S&P 500 and Dow Jones Industrial Average closed with two back-to-back record highs and the tech-heavy Nasdaq Composite notched three consecutive highs before breaking for the weekend.', 'The S&P 500 knocked past the key threshold level of 5,200 and the Dow had its best week of the year.', 'A lot of people made a lot of money.', 'So where do we go from here?', 'Before the Bell spoke with David Mericle, Goldman Sachs’ chief US economist, to discuss what exactly investors were celebrating, whether it can continue and why he thinks the chance of a recession are just about as low as they can be.', 'This interview has been edited for length and clarity.', 'Before the Bell: It’s an understatement to say that Wall Street was happy with the results of last week’s Federal Reserve policy meeting.', 'Markets have rallied to new highs, and a global rally is underway.', 'But the meeting left things exactly where they were.', 'Is it possible that investors are celebrating a bit too hard, and could this rally soon lose momentum?', 'David Mericle: I do think we learned something this week:The next few inflation prints don’t need to be amazing for [the Fed] to follow through on cutting rates in June.', 'They stuck to that three-cut median in the dot plot despite raising their inflation forecast by two-tenths of a percentage point for this year.', 'So our basic assumption is that [inflation data from] January and Februarywill prove to be outliers and that, going forward, we will see inflation step back down to something like the pace that we were running at in the back half of last year.', 'The message from the FOMC [Federal Open Market Committee] is that even if [inflation rates aren’t] as low as what we’re forecasting, there’s still a little bit of wiggle room to nevertheless deliver that June cut.', 'The leadership seems to feel pretty strongly about not waiting indefinitely to get started.', 'So markets didn’t really know exactly what we needed to see on inflation prior to this week, and now we found out that we need to see a little bit less.', 'That’s positive information for markets.', 'Markets still seem somewhat uncertain about whether the first rate hike will be in June or July.', 'We still have three rounds of inflation reports ahead of us before June.', 'It’s still three months off.', 'Markets probably shouldn’t be pricing in anything with too much certainty at that horizon.', 'But the meeting did have some impact on market pricing. [', 'About 70% of investors now think a rate cut will occur in June, according to the CME FedWatch tool.]', 'Goldman Sachs is currently predicting a 15% chance of recession over the next 12 months, down from 35% last year.', 'What’s the significance of that change?', 'That was a meaningful change from 35% down to 15%.', 'And the reason that we made that change was we felt we had sufficient evidence that two things that we worried about in real time had worked out.', 'One was that the hard part of the inflation fight was over.', 'Inflation expectations were back to normal, and the labor market had largely rebalanced to its pre-pandemic state without the unemployment rate going up.', 'Seeing that happen made us more confident that the Fed wouldn’t be forced to cause a recession in order to get inflation down.', 'The other thing was that we learned enough about the regional banking stress of last spring to not worry as much anymore.', 'Once those two risks had passed, it’s not that there was no probability of recession.', 'There’s always some — in late 2019 we thought the probability of recession was very low.', 'It’s a good reminder that unexpected things like the pandemic can always surprise us.', 'So we always want to make some allowance for that.', 'The reason we say 15% risk is because that is roughly the historical unconditional average.', 'So if you were just in a typical year and there was nothing particularly distinctive to worry about, we would say the recession risk was 15% over the next 12 months.', 'But the reasons that we saw the recession probability as higher than usual I feel today are behind us.', 'So a 15% recession rate is baseline for you, it will never go below that number?', 'By looking back at recent history, we can think of it as how often when we weren’t in recession have we gone into recession over the next 12 months.', 'Are we thinking about recession in the wrong way?', 'Some economists say we’ve been in a rolling recession over the last few years.', 'I think the way we define recession, through the National Bureau of Economic Research’s Business Cycle Dating Committee, is a holistic approach that looks at many different sources of data.', 'The way that we do this, looking at a variety of data, is a sensible way of doing it.', 'Are we in an unprecedented economic environment right now?', 'There have been a lot of unprecedented things that have occurred over the last few years, but at this point, I think we are moving back into more familiar territory.', 'We’re not there yet, obviously.', 'But broadly we are gliding back to that pre-pandemic dynamic where we had a very strong labor market by historical standards but did not have an inflation problem.', 'The key thing that’s different is that interest rates are likely to wind up meaningfully higher than they were last cycle.', 'But if your historical memory stretches beyond last cycle, then where interest rates are likely to settle this time around doesn’t look unprecedented.', 'Broadly, we seem to be heading back to somewhere pretty familiar — basically, where we left off.', 'The Federal Aviation Administration warned Saturday its increased oversight of United Airlines — after a string of nearly a dozen incidents on flights this month — may mean the troubled airline will have to put some of its future plans on hold.', '“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “', 'Certification activities in process may be allowed to continue, but future projects may be delayed based on findings from oversight.”', 'The FAA also said it would initiate an evaluation of the company’s safety management and compliance, reported my colleague Samantha Delouya.', 'The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon,missing an external panelon March 15.', 'In a Friday memo,United told employeesthey would start seeing “more of an FAA presence in our operation as they begin to review some of our work processes, manuals and facilities.”', 'United said the FAA’s review would mean an “even closer look at multiple areas of our operation to ensure we are doing all we can to promote and drive safety compliance.”', 'By as soon as May, more than 23 million US households risk being kicked off their internet plans or facing skyrocketing bills that force them to pay hundreds more per year to get online, according to the Federal Communications Commission (FCC).', 'The looming disaster could affect nearly 1 in 5 households nationwide, or nearly 60 million Americans, going by Census Bureaupopulation estimates.', 'Such broad disruptions to internet access would affect people’s ability to do schoolwork, to seek and do jobs, to visit their doctorsvirtually or refill prescriptions online, or to connect to public services, widening the digital divide between have and have-nots and potentially leading to economic instability on a massive scale.', 'The crisis is linked to a critical government program expected to run out of funding at the end of April.', 'Known as the Affordable Connectivity Program (ACP), the benefit provides discounts on internet service valued at up to $30 per month to qualifying low-income households, or up to $75 per month for eligible recipients on tribal lands.', 'Lawmakers have known for months about the approaching deadline.', 'Yet Congress is nowhere close to approving the $6 billion that President Joe Biden says would renew the ACP and avert calamity for tens of millions of Americans.', 'This past week, congressional leaders missed what advocates say was the last, best legislative opportunity for funding the ACP: The 11th-hour budgetdealdesigned to avert a government shutdown.', 'The bill text released this week includes no money for the program, heightening the odds of an emergency that will plunge millions into financial distress just months before the pivotal 2024 election.', 'Now, with time running out for the ACP, the FCC has been forced to begin shutting down the program — halting new signups and warning users their benefits are about to be suspended.', 'Read more here.']",0.01031642204030791,"“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. “","The bill text released this week includes no money for the program, heightening the odds of an emergency that will plunge millions into financial distress just months before the pivotal 2024 election." $800 million up for grabs in tonight’s Powerball drawing - and an even bigger Mega Millions jackpot is up Tuesday,https://edition.cnn.com/2024/03/25/business/powerball-jackpot-800-million-monday/index.html," Updated 6:11 AM EDT, Mon March 25, 2024 ","Lottery players have two opportunities to potentially strike it rich this week as the Powerball jackpot climbs to a colossal $800 million for Monday night’s drawing and Tuesday’s Mega Millions jackpot tops $1 billion. The Powerball jackpot was last won on January 1 by a ticket in Michigan with an estimated $842.4 million prize. If the prize is won Monday it would be the sixth-largest in the game’s history. A winner would have the option of receiving an estimated $800 million in annual payments or a lump sum payment of $384.8 million – both before taxes, according to Powerball. Monday night’s Powerball drawing will be held at 10:59 p.m. ET. There have been 35 consecutive Powerball drawings with no grand prize winner. The odds of winning any prize are 1 in 24.9, but the odds of snagging the jackpot are 1 in 292.2 million, according to the lottery. If the odds aren’t in your favor during Monday’s Powerball drawing, you can try again with Tuesday’s Mega Millions drawing, when $1.1 billion will be up for grabs. The lottery crossed the billion-dollar mark after there were no grand prize winners in Friday’s drawing. If the jackpot is won Tuesday, it would be the fifth largest prize in the history of the game, according to Mega Millions. Tuesday’s drawing will happen at 11 p.m. ET.",CNN,25/03/2024,"['Lottery players have two opportunities to potentially strike it rich this week as the Powerball jackpot climbs to a colossal $800 million for Monday night’s drawing and Tuesday’s Mega Millions jackpot tops $1 billion.', 'The Powerball jackpot was last won on January 1 by a ticket in Michigan with an estimated $842.4 million prize.', 'If the prize is won Monday it would be the sixth-largest in the game’s history.', 'A winner would have the option of receiving an estimated $800 million in annual payments or a lump sum payment of $384.8 million – both before taxes, according to Powerball.', 'Monday night’s Powerball drawing will be held at 10:59 p.m. ET.', 'There have been 35 consecutive Powerball drawings with no grand prize winner.', 'The odds of winning any prize are 1 in 24.9, but the odds of snagging the jackpot are 1 in 292.2 million, according to the lottery.', 'If the odds aren’t in your favor during Monday’s Powerball drawing, you can try again with Tuesday’s Mega Millions drawing, when $1.1 billion will be up for grabs.', 'The lottery crossed the billion-dollar mark after there were no grand prize winners in Friday’s drawing.', 'If the jackpot is won Tuesday, it would be the fifth largest prize in the history of the game, according to Mega Millions.', 'Tuesday’s drawing will happen at 11 p.m. ET.']",0.5778542669368817,Lottery players have two opportunities to potentially strike it rich this week as the Powerball jackpot climbs to a colossal $800 million for Monday night’s drawing and Tuesday’s Mega Millions jackpot tops $1 billion., Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion," Updated 10:57 AM EST, Mon February 26, 2024 ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years. And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day. With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to. Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick. A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1. And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case). Let’s take a closer look at how this bracket will work and the Rent Day offer options. For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket. The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1. However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day. With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on. For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example. Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far. On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix. You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent). So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits). Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month. Learn more and apply now for the Bilt Mastercard. Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.", Why Nike wants to make Air Force 1 sneakers harder to find,https://edition.cnn.com/2024/03/25/business/nike-air-force-1-sneakers/index.html," Published 9:36 AM EDT, Mon March 25, 2024 ","Nike Air Force 1 and Nike Pegasus sneakers are everywhere. That’s a problem for Nike, and it wants to make them harder to buy. Nike is scaling back production of these classic sneaker lines to prevent discounting and make room for its newer lines. The Air Force 1 and Pegasus are staples of Nike’s sneaker lineup, and some of Nike’s oldest sneaker lines. The Air Force 1’s are known for their all-white design, while the Pegasus have large Nike swooshes on their mid-sole. They are both marketed for everyday wear, but growth has slowed for these lines and other Nike products, and stores have been promoting the shoes more frequently to clear the glut off shelves. This is a risk for Nike, which sees itself as a premium brand that wants to protect its ability to sell merchandise at higher prices and prevent products from being discounted too heavily. So Nike is cutting back supply to try to juice demand and sell them at full prices. Nike also wants to push shoppers to buy new, higher-priced Air Max shoes and newer Pegasus products. “We are in the midst of shifting our product portfolio” toward newer lines, Nike finance chief Matthew Friend said on an earnings call Thursday. “We are pulling back supply of classics such as the Air Force 1, and we’re reducing supply of Pegasus.” Nike’s moves could also make it harder for consumers to find traditional white Air Force 1 sneakers and Pegasus versions at shoe stores. But loyal Nike customers will transition to other Nike shoes, said Christopher Burns, a sneaker industry analyst and founder of Arch USA, a sneaker and lifestyle blog. And it won’t impact sneakerheads like Burns much. Sneaker collectors focus on limited-edition and special collaboration lines — not mass market lines like Air Force 1, he said. Still, Nike’s strategy will impact sales and could backfire if consumers aren’t keen on its new styles. Nike said the cutback will hurt its sales during its upcoming fiscal year. Sales during the first half of the year will fall to low single-digits, the company said. “It’s the right strategy long-term, but it’s unclear how strong new styles will resonate,” said Randal Konik, a retail analyst at Jefferies. Nike’s move to slash supply comes as the company faces a consumer slowdown for discretionary goods and tough competition from upstart running brands like Hoka and On. Customers are changing their behavior, passing up discretionary purchases of expensive sneakers and athletic clothing for basics and experiences such as concerts and travel. Nike slashed its revenue outlook for the year and said it was looking for as much as $2 billion in cost savings in the next three years. In January, Nike cut 1,700 employees. Nike is also facing new competition. Hoka, a French brand founded as a running shoe for hardcore marathoners that soon caught on in the mainstream, is growing. Known for its chunky insoles, even President Joe Biden was photographed earlier this week striding out of the White House in a new set of Hoka sneakers — far from a Gen Z-endorsement, but a sign that a once virtually unknown brand is making a dent in sales and visibility. Meanwhile, Nike has also changed its distribution strategy. The company in recent years has slashed the number of traditional retailers it sells its goods to while shifting to grow directly through its own channels, especially online. Nike has said it can make more than double the profit selling goods through its own website and physical stores than it can through wholesale partners. Nike has said it would focus its resources, marketing and top products on just 40 select retail partners, such as Dick’s Sporting Goods and Foot Locker.",CNN,25/03/2024,"['Nike Air Force 1 and Nike Pegasus sneakers are everywhere.', 'That’s a problem for Nike, and it wants to make them harder to buy.', 'Nike is scaling back production of these classic sneaker lines to prevent discounting and make room for its newer lines.', 'The Air Force 1 and Pegasus are staples of Nike’s sneaker lineup, and some of Nike’s oldest sneaker lines.', 'The Air Force 1’s are known for their all-white design, while the Pegasus have large Nike swooshes on their mid-sole.', 'They are both marketed for everyday wear, but growth has slowed for these lines and other Nike products, and stores have been promoting the shoes more frequently to clear the glut off shelves.', 'This is a risk for Nike, which sees itself as a premium brand that wants to protect its ability to sell merchandise at higher prices and prevent products from being discounted too heavily.', 'So Nike is cutting back supply to try to juice demand and sell them at full prices.', 'Nike also wants to push shoppers to buy new, higher-priced Air Max shoes and newer Pegasus products.', '“We are in the midst of shifting our product portfolio” toward newer lines, Nike finance chief Matthew Friend said on an earnings call Thursday. “', 'We are pulling back supply of classics such as the Air Force 1, and we’re reducing supply of Pegasus.”', 'Nike’s moves could also make it harder for consumers to find traditional white Air Force 1 sneakers and Pegasus versions at shoe stores.', 'But loyal Nike customers will transition to other Nike shoes, said Christopher Burns, a sneaker industry analyst and founder of Arch USA, a sneaker and lifestyle blog.', 'And it won’t impact sneakerheads like Burns much.', 'Sneaker collectors focus on limited-edition and special collaboration lines — not mass market lines like Air Force 1, he said.', 'Still, Nike’s strategy will impact sales and could backfire if consumers aren’t keen on its new styles.', 'Nike said the cutback will hurt its sales during its upcoming fiscal year.', 'Sales during the first half of the year will fall to low single-digits, the company said.', '“It’s the right strategy long-term, but it’s unclear how strong new styles will resonate,” said Randal Konik, a retail analyst at Jefferies.', 'Nike’s move to slash supply comes as the company faces a consumer slowdown for discretionary goods and tough competition from upstart running brands like Hoka and On.', 'Customers are changing their behavior, passing up discretionary purchases of expensive sneakers and athletic clothing for basics and experiences such as concerts and travel.', 'Nike slashed its revenue outlook for the year and said it was looking for as much as $2 billion in cost savings in the next three years.', 'In January, Nike cut 1,700 employees.', 'Nike is also facing new competition.', 'Hoka, a French brand founded as a running shoe for hardcore marathoners that soon caught on in the mainstream, is growing.', 'Known for its chunky insoles,even President Joe Biden was photographed earlier this week striding out of the White House in a new set of Hoka sneakers — far froma Gen Z-endorsement, but a sign that a once virtually unknown brand is making a dent in sales and visibility.', 'Meanwhile, Nike has also changed its distribution strategy.', 'The company in recent years has slashed the number of traditional retailers it sells its goods to while shifting to grow directly through its own channels, especially online.', 'Nike has said it can make more than double the profitselling goodsthrough its own website and physical stores than it can through wholesale partners.', 'Nike has said it would focus its resources, marketing and top products on just 40 select retail partners, such as Dick’s Sporting Goods and Foot Locker.']",0.06830043318195647,"They are both marketed for everyday wear, but growth has slowed for these lines and other Nike products, and stores have been promoting the shoes more frequently to clear the glut off shelves.",Nike said the cutback will hurt its sales during its upcoming fiscal year. Trump is about to get $3 billion richer after deal is approved to take his company public. But it won’t solve his cash crunch,https://edition.cnn.com/2024/03/22/business/trump-truth-social-dwac-shares/index.html," Updated 1:01 PM EDT, Mon March 25, 2024 ","Truth Social owner Trump Media will begin trading Tuesday as the merger closes Investors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company. The green light from shareholders clears a major hurdle for a long-delayed merger that will generate a multi-billion dollar windfall for former President Donald Trump at a time when he’s facing immense financial and legal pressure. According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media. The companies have indicated the merger could close as soon as early next week. The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. It will own Trump’s struggling social media platform Truth Social. Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles. Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices. However, experts tell CNN there are numerous practical, financial and legal reasons why this deal is unlikely to solve Trump’s imminent cash crunch. “President Trump won’t be able to monetize that stake right away,” said Matthew Kennedy, senior initial public offering market strategist at Renaissance Capital. Trump faces a Monday deadline to post a $464 million bond in New York’s civil fraud case against him or New York’s attorney general could try to seize his golf course and private estate north of Manhattan – or other assets. The good news for Trump is that there are strong incentives for shareholders to approve the merger with Digital World Acquisition Corp. If it gets the green light from shareholders, Trump stands to be the dominant shareholder, with a stake of at least 58.1%, according to filings. The merger agreement calls for Trump to own roughly 79 million shares of the new public company – and potentially tens of millions more if certain goals are hit. At Digital World’s share price of around $43 Thursday, that massive stake would be worth $3.4 billion – at least on paper. But Digital World shares were volatile Friday, and they were closed 14% lower. The merger could close swiftly. Regulatory filings indicate the companies expect to close the merger on the second business day after the shareholder vote is approved. That sets the stage for trading to begin under the new name and ticker symbol by Tuesday or Wednesday, although it could take longer, according to Kennedy. But the deal still faces legal uncertainty. There is ongoing litigation seeking to block the merger from closing. The bad news for Trump is that this stake is not as liquid as it sounds. Those paper gains would be very difficult for Trump to translate to actual cash. In fact, Trump’s shares in this company are in many ways even less liquid than his real estate holdings, according to Charles Whitehead, a law professor at Cornell Law School. First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals. That means Trump would have a hard time dumping the stock or even pledging it as collateral. “The stock price is clearly a bubble,” Yale law professor Jonathan Macey told CNN. “No rational investor would take the stock at face value, especially if they had to hold it for any length of time.” SEC filings indicate Trump Media’s revenue amounted to just $1.1 million during the third quarter. The company posted a loss of $26 million that quarter. Not only that, but Truth Social appears to be shrinking. The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year, according to Similarweb data shared with CNN earlier this month. Truth Social remains much smaller than X (formerly Twitter), which is also shrinking but at a slower pace. And yet Trump Media is being valued north of $6 billion on a fully diluted basis, which includes all stocks and options that could be converted to common stock, according to Jay Ritter, a finance professor at the University of Florida. Ritter said the current market price is hard, if not impossible, to justify. “It is grossly overvalued,” said Ritter. “It qualifies as a meme stock for which the price is divorced from fundamental value…Meme stock investors are usually buying on the basis of the greater fool theory of investing: It is overvalued today, but I hope to make money selling it to an even greater fool tomorrow at an even higher price.” But even in the unlikely event that Trump found a taker for those shares, experts say he is likely not allowed to sell or pledge that stock – at least not yet. As is typical in a deal like this, certain shareholders are subject to a lock-up period that prevents insiders from immediately selling. “No one wants to buy into a company where the largest shareholder – and really the face of the biggest product – is selling,” said Whitehead. In this case, key shareholders of Trump Media, including its management team, have agreed not to sell their common stock for six months to maintain “important stability to the leadership and governance” of the company, according to SEC filings. Not only does that lock-up agreement prevent these key shareholders from selling their stock for six months, it says they have agreed not to “lend, offer, pledge…encumber, donate” that stock during the period. If the share price stays above $12 for a period of time, it’s possible that insiders can sell or pledge their stock 150 days after the deal closes. “The lock-up is meant to stop insiders from selling immediately after the merger,” said Xavier Kowalski, a former partner at Schulte Roth & Zabel who is now a lecturer in the finance department at the University of Florida. “It also stops them from pledging the stock, like with a margin loan. So it’s going to be difficult to find a way to use those shares to get cash for now.” Moreover, there are additional lock-up restrictions contained in an amended charter that experts say appear to include Trump. That lock-up also restricts certain shareholders from immediately selling after the deal closes. “If his shares are covered by the charter’s lockup provisions then, absent an amendment to the charter, President Trump cannot pledge this stock. Full stop,” Whitehead said. And amending the charter would be tricky – even for Trump and his outsized sway over the company. That’s the kind of thing that would have to be disclosed ahead of time because it would impact potential buyers of the stock. “He can’t do this quietly. If President Trump today intends to amend the charter and they are not disclosing this intention, that’s a problem,” Whitehead said. “Presumably, they would need to take the position after the vote approving the merger that President Trump woke up and suddenly said, ‘Hey, let’s amend the charter.’” Now even if Trump overcame these potentially insurmountable obstacles, there is no guarantee any bank would take this stock as collateral in a loan. “If I’m a bank, I’m going to be troubled by the idea of a significant shareholder pledging his stake,” Whitehead said. “Any bank doing a proper credit analysis must be sensitive to the fact that this stock may very well tank if it turns out that President Trump is looking to sell down the position.” This story has been updated with additional developments and context.",CNN,25/03/2024,"['Truth Social owner Trump Media will begin trading Tuesday as the merger closes Investors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company.', 'The green light from shareholders clears a major hurdle for a long-delayed merger that will generate a multi-billion dollar windfall for former President Donald Trump at a time when he’s facing immense financial and legal pressure.', 'According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media.', 'The companies have indicated the merger could close as soon as early next week.', 'The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials.', 'It will own Trump’s struggling social media platform Truth Social.', 'Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles.', 'Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices.', 'However, experts tell CNN there are numerous practical, financial and legal reasons why this deal is unlikely to solve Trump’s imminent cash crunch.', '“President Trump won’t be able to monetize that stake right away,” said Matthew Kennedy, senior initial public offering market strategist at Renaissance Capital.', 'Trump faces a Monday deadline to post a $464 million bond in New York’s civil fraud case against him or New York’s attorney general could try to seize his golf course and private estate north of Manhattan – or other assets.', 'The good news for Trump is that there are strong incentives for shareholders to approve the merger with Digital World Acquisition Corp. If it gets the green light from shareholders, Trump stands to be the dominant shareholder, with a stake of at least 58.1%, according to filings.', 'The merger agreement calls for Trump to own roughly 79 million shares of the new public company – and potentially tens of millions more if certain goals are hit.', 'At Digital World’s share price of around $43 Thursday, that massive stake would be worth $3.4 billion – at least on paper.', 'But Digital World shares were volatile Friday, and they were closed 14% lower.', 'The merger could close swiftly.', 'Regulatory filings indicate the companies expect to close the merger on the second business day after the shareholder vote is approved.', 'That sets the stage for trading to begin under the new name and ticker symbol by Tuesday or Wednesday, although it could take longer, according to Kennedy.', 'But the deal still faces legal uncertainty.', 'There is ongoing litigation seeking to block the merger from closing.', 'The bad news for Trump is that this stake is not as liquid as it sounds.', 'Those paper gains would be very difficult for Trump to translate to actual cash.', 'In fact, Trump’s shares in this company are in many ways even less liquid than his real estate holdings, according to Charles Whitehead, a law professor at Cornell Law School.', 'First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals.', 'That means Trump would have a hard time dumping the stock or even pledging it as collateral.', '“The stock price is clearly a bubble,” Yale law professor Jonathan Macey told CNN. “', 'No rational investor would take the stock at face value, especially if they had to hold it for any length of time.”', 'SEC filings indicate Trump Media’s revenue amounted to just $1.1 million during the third quarter.', 'The company posted a loss of $26 million that quarter.', 'Not only that, but Truth Social appears to be shrinking.', 'The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year, according to Similarweb data shared with CNN earlier this month.', 'Truth Social remains much smaller than X (formerly Twitter), which is also shrinking but at a slower pace.', 'And yet Trump Media is being valued north of $6 billion on a fully diluted basis, which includes all stocks and options that could be converted to common stock, according to Jay Ritter, a finance professor at the University of Florida.', 'Ritter said the current market price is hard, if not impossible, to justify.', '“It is grossly overvalued,” said Ritter. “', 'It qualifies as a meme stock for which the price is divorced from fundamental value…Meme stock investors are usually buying on the basis of the greater fool theory of investing: It is overvalued today, but I hope to make money selling it to an even greater fool tomorrow at an even higher price.”', 'But even in the unlikely event that Trump found a taker for those shares, experts say he is likely not allowed to sell or pledge that stock – at least not yet.', 'As is typical in a deal like this, certain shareholders are subject to a lock-up period that prevents insiders from immediately selling.', '“No one wants to buy into a company where the largest shareholder – and really the face of the biggest product – is selling,” said Whitehead.', 'In this case, key shareholders of Trump Media, including its management team, have agreed not to sell their common stock for six months to maintain “important stability to the leadership and governance” of the company, according to SEC filings.', 'Not only does that lock-up agreement prevent these key shareholders from selling their stock for six months, it says they have agreed not to “lend, offer, pledge…encumber, donate” that stock during the period.', 'If the share price stays above $12 for a period of time, it’s possible that insiders can sell or pledge their stock 150 days after the deal closes.', '“The lock-up is meant to stop insiders from selling immediately after the merger,” said Xavier Kowalski, a former partner at Schulte Roth & Zabel who is now a lecturer in the finance department at the University of Florida. “', 'It also stops them from pledging the stock, like with a margin loan.', 'So it’s going to be difficult to find a way to use those shares to get cash for now.”', 'Moreover, there are additional lock-up restrictions contained in an amended charter that experts say appear to include Trump.', 'That lock-up also restricts certain shareholders from immediately selling after the deal closes.', '“If his shares are covered by the charter’s lockup provisions then, absent an amendment to the charter,PresidentTrump cannot pledge this stock.', 'Full stop,” Whitehead said.', 'And amending the charter would be tricky – even for Trump and his outsized sway over the company.', 'That’s the kind of thing that would have to be disclosed ahead of time because it would impact potential buyers of the stock.', '“He can’t do this quietly.', 'IfPresidentTrump today intends to amend the charter and they are not disclosingthis intention, that’s a problem,” Whitehead said. “', 'Presumably, they wouldneedto take the position after the voteapproving the merger that PresidentTrump woke up and suddenly said, ‘Hey, let’s amend the charter.’”', 'Now even if Trump overcame these potentially insurmountable obstacles, there is no guarantee any bank would take this stock as collateral in a loan.', '“If I’m a bank, I’m going to be troubled by the idea of a significant shareholder pledging his stake,” Whitehead said. “', 'Any bank doing a proper credit analysis must be sensitive to the fact that this stock may very well tank if it turns out that President Trump is looking to sell down the position.”', 'This story has been updated with additional developments and context.']",0.10156040537983282,"The good news for Trump is that there are strong incentives for shareholders to approve the merger with Digital World Acquisition Corp. If it gets the green light from shareholders, Trump stands to be the dominant shareholder, with a stake of at least 58.1%, according to filings.",There is ongoing litigation seeking to block the merger from closing.