Reported 6 months ago
Former Morgan Stanley CEO James Gorman shared his vision for the U.S. banking system at the Federal Reserve Bank of New York's annual conference, suggesting a structure with mainly megabanks and tiny community banks. Gorman emphasized the importance of aligning values in acquisitions and building a culture based on competence and collaboration. He highlighted efforts to increase female representation in leadership roles and acknowledged the need for industry-wide cultural changes, such as addressing long working hours for junior employees.
Source: YAHOO
Reported 6 months ago
Norfolk Southern Railway Company has agreed to pay an additional $310 million settlement with the U.S. Environmental Protection Agency and the Department of Justice for damages caused by a 2023 train derailment in East Palestine, Ohio. The settlement, subject to court approval, includes measures to improve rail safety, health monitoring and mental health services for communities, environmental monitoring, a civil penalty, and protection of water resources. This settlement follows a previous $600 million settlement for class action and personal injury claims related to the derailment, with Norfolk Southern estimating it will spend over $1 billion to address contamination and enhance rail safety.
Source: YAHOO
Reported 6 months ago
A Louisiana Democratic political consultant, Steven Kramer, was indicted for felony voter suppression and misdemeanor impersonation charges after sending AI-generated robocalls imitating U.S. President Joe Biden to dissuade voters in New Hampshire's Democratic primary. The Federal Communications Commission proposed a $6 million fine for Kramer for using deepfake audio recordings of Biden's voice in the calls, highlighting concerns of AI-generated content influencing the November elections. Additionally, the FCC proposed a $2 million fine for Lingo Telecom for transmitting the robocalls. There are efforts in Washington to address AI threats to election integrity before the upcoming elections.
Source: YAHOO
Reported 6 months ago
The US government will provide $75 million to the South Korean company Absolics, a part of the SK Group, to establish a factory in Covington, Georgia, manufacturing glass parts for computer chips. The investment is part of the CHIPS and Science Act and aims to enhance semiconductor technology, enabling faster and more energy-efficient computers. The company plans to invest over $300 million in the first phase, hire 200 workers initially, and increase production starting in 2025. This initiative is seen as a significant opportunity for Georgia to lead in manufacturing and innovation.
Source: YAHOO
Reported 6 months ago
At age 48, gymnast Oksana Chusovitina's bid to qualify for her record ninth Olympics came to an end due to an injury during podium training at the Asian Gymnastics Championships in Uzbekistan. Chusovitina, known for competing in eight previous Olympics and holding records as the oldest gymnast and most Olympic appearances, announced the news on Instagram, expressing disappointment but gratitude for her fans. Although she did not mention retirement, this injury marks a potential conclusion to her Olympic career, which began in 1990 competing for the Soviet Union and included winning a team gold in 1992 and an individual bronze in 2008.
Source: YAHOO
Reported 6 months ago
Producer Toni Ireland of "The Traitors" expresses being overwhelmed by the success of Season 2, which featured an all-celebrity cast from shows like "Big Brother" and "Survivor." The show, described as a murder mystery, involves players trying to identify murderers among them. Ireland credits the show's appeal to tapping into the human psyche and the engaging gameplay. Alan Cumming serves as the host, and Ireland highlights his perfect fit for the show's theatrical and dramatic tone. Plans for Season 3 include exciting new outfits for Cumming and continued strategic gameplay.
Source: YAHOO
Reported 6 months ago
The US Justice Department and nearly 30 states have sued Live Nation Entertainment Inc., alleging an illegal monopoly with Ticketmaster in the live events industry. The lawsuit aims to force Live Nation to sell Ticketmaster, citing anticompetitive practices like exclusive contracts and retaliation against rivals. Live Nation controls a significant portion of concert venues and ticketing, leading to higher fees for fans. The company plans to defend against the allegations, stating that the lawsuit ignores the economics of live entertainment. The case is seen as a significant antitrust move by the Justice Department, signaling a push to break up monopolies in various industries.
Source: YAHOO
Reported 6 months ago
Scottie Scheffler remains charged with four counts of criminal conduct, including a felony, following an incident outside Valhalla Golf Club. The detective involved was disciplined for not having his body camera on during the encounter, with video footage of the arrest expected to be released soon. Scheffler's attorney has stated that there will be no settlement, and the case will either be dismissed or go to trial. The felony charge requires Scheffler's presence at an arraignment scheduled for June 3rd, coinciding with the Memorial Tournament week.
Source: YAHOO
Reported 6 months ago
Source: INVESTORS
Reported 6 months ago
Ginger Zee's fans have been captivated by her stylish outfits, with her latest colorful ensemble distracting viewers from her severe weather news. Despite her warnings about tornadoes, followers on Instagram were more interested in complimenting her striped dress and pumps. Zee, known for her professional yet glamorous looks, has refrained from buying new clothes for almost two years as part of a "no new clothes challenge" to support women's workers and reduce the environmental impact of fashion.
Source: YAHOO
Reported 6 months ago
The article discusses Nvidia's promising first-quarter earnings report and the positive impact on the stock market, with the S&P 500 and Nasdaq Composite opening higher following Nvidia's strong performance. Nvidia's CEO, Jensen Huang, highlighted the robust demand for the company's AI chips, leading to a global rally in chip stocks. Additionally, the article mentions concerns about trade tensions between the US and China impacting Nvidia's future performance. Furthermore, the US Justice Department is reportedly preparing an antitrust lawsuit against Live Nation Entertainment, and insights from JPMorgan Chase and Goldman Sachs CEOs on the US economy and interest rates are discussed. Overall, the focus is on Nvidia's earnings, market reactions, and broader economic implications.
Source: YAHOO
Reported 6 months ago
Fundstrat's Tom Lee predicts that a global labor shortage of around 80 million workers by 2030 will drive technology stocks to surge, with the sector potentially growing to 50% of the S&P 500. Lee attributes this growth to AI addressing the labor shortage and boosting productivity, leading to an estimated $3.2 trillion annual spend on AI tech by companies. He highlights Nvidia's potential benefits from this trend, emphasizing that the current situation is reminiscent of past instances where global labor shortages led to significant growth in technology stocks.
Source: YAHOO
Reported 6 months ago
Chelsea Lazkani, star of "Selling Sunset," opened up about her divorce from husband Jeff Lazkani for the first time in a recent interview. Chelsea mentioned that she is taking each day as it comes since the end of her seven-year marriage and hinted that viewers may see some of the split play out on the upcoming eighth season of the show. She described the season as "bonkers" and emphasized the support she has received from her fellow cast members, Emma Hernan and Chrishell Stause. The couple, who share two children, filed for divorce citing irreconcilable differences, with Jeff also accusing Chelsea of exhibiting suspicious behavior and being physically aggressive towards him.
Source: YAHOO
Reported 6 months ago
OWN has ordered a new reality series titled "Family Empire: Houston" from Carlos King's Kingdom Reign Entertainment, set to premiere on June 28. The show follows the multi-generational Braden family in Houston, exploring themes of generational wealth and family legacy as the grandchildren navigate complications surrounding the potential dissolution of family assets by their matriarch. Carlos King is known for producing series like the Love & Marriage franchise and is already behind other successful shows for the network.
Source: YAHOO
Reported 6 months ago
Miranda Maverick is determined to prove her worthiness for a spot in the UFC women's flyweight rankings against Tracy Cortez this summer, despite being ranked outside the top 15 while Cortez holds the No. 11 spot. Maverick believes that Cortez's ranking is influenced by factors like social media presence rather than fighting resumes, pointing out Cortez's inactivity and lack of fights against ranked opponents. Maverick sees this upcoming fight as a significant opportunity to climb the rankings and move closer to becoming a title contender in the next two years.
Source: YAHOO
Reported 6 months ago
BJ’s Wholesale Club is considering opening its first location in Texas in Fort Worth, as indicated by a recent filing with the city. The potential site for the warehouse retailer is on Altamesa Blvd. off Chisholm Trail Parkway. BJ’s is known for offering bulk products and discounted gasoline to its members, with plans to open new stores and gas stations across the U.S. in the coming fiscal year. If BJ’s does establish a presence in Fort Worth, it will face competition from other warehouse stores like Costco and Sam’s Club already operating in Texas.
Source: YAHOO
Reported 6 months ago
The late Charlie Munger, vice chairman of Berkshire Hathaway, emphasized the importance of buying a home when needed rather than trying to time the market, stating that homeownership is more for families than single individuals. Munger's straightforward advice focuses on personal necessity and practicality over speculative financial factors, highlighting the significance of aligning financial decisions with personal needs and circumstances rather than market conditions. His perspective serves as a timeless reminder to prioritize personal milestones and family needs when making significant choices like homeownership.
Source: YAHOO
Reported 6 months ago
The Hollywood Commission, chaired by Anita Hill, has launched MyConnext, a centralized reporting platform for entertainment workers to address harassment, discrimination, bullying, or other forms of abuse in the industry. The platform offers resources, a reporting infrastructure, individual advisers, and an Ombuds Office to guide victims through the reporting process. It allows for anonymous reporting and the option to submit as a “Hold for Match” to verify multiple reports about the same individual. Participating organizations and guilds can access the platform, with broader industry resources available on MyConnext.org. The platform aims to empower workers to report abuses through appropriate channels while avoiding potential retaliation.
Source: YAHOO
Reported 6 months ago
An internal investigation by Louisville officials into the incident involving golfer Scottie Scheffler before the PGA Championship revealed that the police officer who initially interacted with Scheffler was disciplined for failing to follow departmental procedure by not turning on his body camera. Charges against Scheffler have not been dropped, and the judicial process will continue. Scheffler's attorney maintains his client's innocence, stating that Scheffler did not do anything wrong during the incident. The arraignment for Scheffler has been delayed to June 3, where he will be expected in court in Louisville.
Source: YAHOO
Reported 6 months ago
Nvidia, the semiconductor tech giant, has announced a 10-1 stock split effective June 7, with each stockholder receiving nine additional shares. The split aims to make ownership more accessible to employees and investors, lowering the share price from $1,020 to around $102 per share. Stock splits do not change the total value of holdings for existing shareholders but can make shares more affordable and boost liquidity. Nvidia's recent performance includes a 7.4 percent jump to $1,020 per share after a strong earnings report and a 150 percent increase in dividends.
Source: YAHOO
Reported 6 months ago
In Yellowstone National Park, a photographer captured a coyote with a hidden mammal watching it from behind. The article highlights the importance of being observant of your surroundings while visiting the park to spot wildlife, as sometimes smaller critters can go unnoticed, like the ground squirrel in this case. The photographer also mentions other wildlife sightings during their trip, including bears, mountain goats, pronghorn, and bison.
Source: YAHOO
Reported 6 months ago
The article discusses Kyrie Irving's transformed demeanor while playing for the Mavericks, where he appears humble, gracious, and focused on teamwork. Despite this change, the author remains skeptical, anticipating Irving's villainous nature to resurface, especially if the Celtics face the Mavericks in the NBA Finals. The article recalls Irving's controversial past with the Celtics, highlighting his negative impact on the team before departing to Brooklyn. The author emphasizes that despite Irving's current likable persona, Celtics fans still view him as a villain and anticipate a potential showdown in the Finals.
Source: YAHOO