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Shareholders of Norfolk Southern, the beleaguered freight railroad, on Thursday voted down an attempt by an activist investment firm to remove the company’s chief executive and take control of its board. But the activist, Ancora, a Cleveland firm, managed to secure a foothold at the company, after shareholders voted to place three of its directors onto Norfolk Southern’s 13-member board. Ancora had hoped to take control of the company’s leadership with an aim to cut costs and increase Norfolk Southern’s profits and stock price. The result is a partial victory for Norfolk Southern’s executives, who had to defend themselves against criticisms of the company’s safety record and its lackluster financial performance. The results of the shareholder vote, which are preliminary, were announced Thursday morning at a virtual company annual meeting.
Persons: Ancora Organizations: Norfolk Locations: Norfolk Southern, Cleveland, East Palestine , Ohio
LONDON — The Bank of England on Thursday announced a widely-expected hold on interest rates following its May meeting, as it said restrictive monetary policy was working to bring down inflation. Members of the central bank's Monetary Policy Committee voted 7-2 to hold, with the latter favoring a cut. In the prior meeting only one member voted for a cut. It keeps the BOE's key Bank Rate at 5.25%. Some economists see a cut as soon as the next meeting in June, and three or more cuts in 2024.
Persons: Matthew Swannell, CNBC's Organizations: Bank of England, Monetary, MPC, BNP
These stocks could be poised to join the S & P 500 when the broad index undergoes its quarterly rebalance next month, according to some Wall Street analysts. Keefe Bruyette & Woods also views a financial services stock as a likely addition to the S & P 500, citing the sector's underweight position. There's a "mid to high probability" that Erie resettles in the S & P 500. The S & P 500 isn't the only index poised for potential changes. Gandhi sees a strong likelihood that Ryan Specialty Holdings joins the S & P Midcap 400, while New York Community Bancorp could drop down to the S & P SmallCap 600 .
Persons: Ramsey El, Bancorporation, Assal, Keefe, Woods, Shreyank Gandhi, Gandhi, Dell Organizations: Barclays, Micro Computer, Whirlpool, Software, Services, KKR, Apollo Global Management, Erie resettles, Specialty Holdings, New, New York Community Bancorp, Axis Capital Holdings, BOK Locations: Erie, New York
Prince Harry is in the UK to celebrate 10 years of the Invictus Games. AdvertisementThe royal family was noticeably absent from a ceremony celebrating the Invictus Games. The Invictus Games, a worldwide sporting competition for injured veterans, marked 10 years since its creation on Wednesday. AdvertisementAs part of the anniversary celebrations, The Invictus Games Foundation hosted a Service of Thanksgiving at St Paul's Cathedral in London. Chris Jackson/Getty Images for Invictus Games Foundation)Harry traveled to the UK to attend the ceremony and other events marking the anniversary.
Persons: Prince Harry, Princess Diana's, King Charles III, Prince William didn't, , London . Prince Harry, Chris Jackson, Harry, Queen Camilla, Diana's, Earl Charles Spencer, Lady Jane Fellowes, Max Mumby, Spencer, King Charles, Meghan Markle, Charles, Meghan, Duke, Sussex, Buckingham, Prince William, Sussex's, Kate Middleton's, Kate, Prince, Princess of Organizations: Invictus, Service, Invictus Games, Charity Commission, St Paul's Cathedral, Getty, Wednesday, Mail, BBC, Good Morning America, Reuters, Buckingham Palace, Sussex, Netflix Locations: England, Wales, Paul's, London, St Paul's, Buckingham
This story is available exclusively to Business Insider subscribers. Now, Critical Role is striking out on its own with the launch of Beacon, an in-house membership service. AdvertisementBeacon essentially gives people what they get with a Twitch subscription — instant access to VODs of their livestreams, but with some additional perks. The $5.99-a-month Beacon membership comes with exclusive access to additional Critical Role programs. Critical Role CEO Travis Willingham added that with "every windfall," the team continues to "purposefully reinvest" in their company to make more content.
Persons: , Marisha Ray, Ray, Travis Willingham, Matthew Mercer, Twitch Organizations: Service, Business, YouTube, Amazon, Hasbro, Beacon Locations: Twitch, London
Tom Selleck said he was angry that CBS didn't want to give the "Magnum P.I." The star negotiated a better deal for himself, he said, then gave each crew member $1,000. Selleck recalled the incident in his memoir, "You Never Know." AdvertisementTom Selleck said he renegotiated his pay to personally give the "Magnum P.I." During contract negotiations, the star initially asked that the crew get $1,000 bonuses if "Magnum P.I."
Persons: Tom Selleck, Selleck, Organizations: CBS, Service, Business
We got an inside look at how new United States Army field artillery soldiers are trained at the Field Artillery School in Fort Sill, Oklahoma. Jeremiah Driscoll, a cannon crew member instructor, walked us through 41 essential items an artillery soldier would bring on a mission. While some of Driscoll's gear is used by other units in the US Army, he showcased artillery-specific items like the M2 collimator and the fire-control computer.
Persons: Jeremiah Driscoll Organizations: United States Army, Field Artillery School, Staff, US Army Locations: Fort Sill , Oklahoma
Ukrainian authorities say Russia fired more than 50 missiles and 20 drones, targeting energy infrastructure around the country. But months of inaction has resulted in real costs for Ukrainian forces on the battlefield in both territory and casualties, these officials say. Russian forces are expected to attempt to make further progress and consolidate earlier gains, before this window of opportunity closes. Western and Ukrainian officials view the near-term threat of stepped-up attacks as tied to Russian plans for a larger offensive early this summer. US and Ukrainian officials remain concerned about a further partial mobilization by Russia to send more manpower to the frontlines, as Ukraine is struggling with its own manpower shortage.
Persons: , Oleksiy Goncharenko, Mike Johnson, ” Goncharenko, Chasiv Organizations: CNN, ” CNN Locations: Russia, Ukraine, Israel, Taiwan, Avdiivka, Pokrovsk, Chasiv Yar, Bakhmut
My 93-year-old mom lives over 3,000 miles from me across the Atlantic. I envy families who are together on Mother's Day and can make their moms feel special in person. AdvertisementIn the run-up to Mother's Day this year, my inbox has been flooded with holiday specials. Every time I receive a new email with Mother's Day in the subject line, I can't help but feel sad. Related storiesMy husband suggested we go out for Mother's Day brunch a few years ago.
Persons: , she's Organizations: Service, Mother's, Hallmark, Business Locations: England, New York, Portland , Oregon, British
That goes for summer interns, too, and may be especially important for them considering the bar to entry is high at Balyasny. The firm said it usually converts about 50% of its top-performing summer interns into full-time hires. AdvertisementThe hedge fund also has a formal feedback process where interns get a progress report about halfway through the summer, and again at the end. Anna Gietl, intern summer of 2022 BalyasnyDon't just hear feedback — implement itBalyasny's culture is about more than accepting feedback or seeking it out. Feedback can also be a catalyst to help build connections and solicit mentorship from people outside your team, Gietl added.
Persons: Hannah Dinardo, Dinardo, San Francisco —, execs, Dmitry Balyasny, Brendan McDermid, aren't, it's, Andrew McHugh, Anna Gietl, Gietl, , I've, Balyasny, It's, McHugh Organizations: Service, Business, BAM, Balyasny Asset Management Locations: York, New York, Chicago, Austin, Houston, San, London , Hong Kong, Singapore
Health-tech firm Masimo , facing the imminent threat of litigation and a second proxy contest, offered a settlement to Politan Capital's Quentin Koffey on Thursday that would fill a vacant board seat with one of the activist's proposed directors. The company is trying to spin off its consumer technology division in concert with an unspecified joint-venture partner, CEO Joe Kiani said earlier this year. The settlement offer would not have been possible without the imminent resignation of current director Rolf Classon, whose departure was attributed to "personal health reasons." Koffey waged a successful proxy fight at Masimo last year earning himself and another nominee representation on Masimo's six-person board. Politan launched a second proxy fight to oust Kiani earlier this year, saying that the "absence of oversight has been damaging for shareholders."
Persons: Politan Capital's Quentin Koffey, Masimo's, Craig Reynolds, William Jellison, Joe Kiani, Koffey, Masimo, Rolf Classon, Politan, Kiani Organizations: Masimo Locations: Kiani
The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.
Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las
The results of pure-breeding, on display starting this Saturday at the Westminster Kennel Club Dog Show in New York, are profound. Erich Andres/United Archives, via Getty Images Modern shepherds have more pronounced slopes A German shepherd at the 2013 Westminster Kennel Club Dog Show. Imagno/Getty Images Modern pugs have smushed, round faces A pug at the 2013 Westminster Kennel Club Dog Show. Fox Photos/Getty Images Modern chows are slightly larger, with more fluffy fur A chow at the 2013 Westminster Kennel Club Dog Show. Fox Photos/Getty Images Modern bull terriers have more football-shaped heads A bull terrier at the 2013 Westminster Kennel Club Dog Show.
Persons: Davis, Erich Andres, Fred R, Conrad, Danika Bannasch, Cane Corso, Pugs, Imagno, Chow chows, chow, Bull Organizations: American Kennel Club, University of California, Wisdom Health, Westminster Kennel, Danes, United, Getty, The New York Times, Fox, American Kennel Locations: Finland, New York, Rhodesian
Ivy Getty is the great-granddaughter of American oil tycoon and industrialist Jean Paul Getty. She is also an heiress to the family's vast fortune, once valued at $5.4 billion. AdvertisementSurrounded by billionaires and other exclusive guests at the 2024 Met Gala on Monday, Ivy Love Getty fit right in. Getty is a member of one of the richest — and most private — families in the country. While her personal net worth is largely unknown to the public, Forbes estimated the Getty family's fortune to be $5.4 billion in 2015.
Persons: Ivy Getty, Jean Paul Getty, Tobias Engel, , Ivy Love Getty, Conner Ives, Kim Kardashian, Jeff Bezos, Tom Ford, Wendi Murdoch, Getty, Ivy Organizations: Service, Forbes, Getty
BRUSSELS, Belgium — European diplomats have already started key negotiations on who will take the main jobs at the European Union following elections next month. Voters across the 27-member EU are heading to the polls between June 6 and 9 to choose the next set of representatives in the European Parliament. The very top EU jobs, which aren't directly elected, then get dished out in the weeks following. Diplomats within the EU are already trying to figure out who will be leading the three big institutions in the coming years: The European Commission, the European Council and the European Parliament. "Von der Leyen has a lot of support from European heads of state," one of the three sources told CNBC via telephone.
Persons: aren't, Ursula von der Leyen, Von der Leyen, Emmanuel Macron, Christine Lagarde Organizations: European, Voters, EU, Parliament, Diplomats, European Commission, European Council, CNBC, European Central Bank Locations: BRUSSELS, Belgium, policymaking, Brussels
Fani Willis, the district attorney of Fulton County, Georgia, photographed on Sept. 20, 2022, and former President Donald Trump, photographed on Aug. 8, 2023. A Georgia appeals court Wednesday agreed to hear a bid by Donald Trump to disqualify Fulton County District Attorney Fani Willis from the former president's criminal election interference case. Trump still faces 10 criminal counts in Willis' case. That order grants Trump's application to appeal McAfee's disqualification ruling while Willis' case is ongoing. The appeals court gave Trump 10 days to file the notice of appeal.
Persons: Fani Willis, Donald Trump, Scott McAfee, Willis, Trump, Joe Biden, Steve Sadow, Fulton County DA Willis, Nathan Wade, Wade, McAfee Organizations: Fulton, Trump, Fulton County, Georgia, McAfee, Trump —, NBC Locations: Fulton County , Georgia, Georgia, Fulton County, Georgia's
For Bulgarian Voters, It’s Groundhog Day, Again
  + stars: | 2024-05-08 | by ( Andrew Higgins | ) www.nytimes.com   time to read: +1 min
For citizens of the United States, Britain, India and dozens of other countries around the world, 2024 is a big, high-stakes election year. For Dimitar Naydenov, a Bulgarian member of Parliament and restaurant owner, it offers only yet another Groundhog Day: Bulgaria in June holds its sixth general election in three years with a vote for a new Parliament. The total number of elections in those years is even higher — eight — if those for president and European Parliament are included. “I’ve done this so many times people have started to feel pity for me,” he said. But pity Bulgarian voters, too.
Persons: Dimitar Naydenov, , Mr, Naydenov, shuddering, Locations: United States, Britain, India, Bulgarian, Bulgaria, Burgas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Jerry Moran on the FAA Reauthorization Act: Gives FAA the tools to do its job well and betterCommerce Aviation Safety Subcommittee ranking member Sen. Jerry Moran (R-Kan.) joins 'Squawk Box' to discuss the fate of the FAA Reauthorization Act, how likely the bill will pass this week, and more.
Persons: Email Sen, Jerry Moran, Sen Organizations: Email, FAA, Aviation
The reporting included a video obtained by CNN captured by a Marine’s GoPro camera that had not been seen publicly in full before. Much of the controversy about the Pentagon’s two investigations into the attack has focused on gunfire in the aftermath of the blast. “Lastly, why do journalists have this video footage and the Department does not? The recent discovery of new video released by CNN directly contradicts and exposes outright lies from our recent briefing last month from CENTCOM officials,” the Gold Star families said in a statement they sent to CNN. Haroon Sabawoon/Anadolu Agency/Getty Images/FileThe evidence also suggests the Pentagon may have more video footage than it has acknowledged in public.
Persons: Defense Lloyd Austin, Austin “, , , Mike Waltz, Darrell Issa, Tim Burchett, Brian Mast, Rich McCormick, Keith Self, Cory Mills, Chris Smith –, Sayed Ahmadi, Ahmadi, , ” James Adams, Hamid, Jared Schmitz, Humberto Sanchez, Taylor Hoover, Nicole Gee, Kareem Nikoui, Hunter Lopez, Rylee McCollum –, Biden, Erik Kurilla, CENTCOM, I’m, Haroon Sabawoon, Rob Lodewick, ” Lodewick Organizations: CNN —, Defense, CNN, Pentagon, House Foreign Affairs, Command, Marines, House Foreign Affairs Committee, Department, Gold Star, Department of Defense, Biden Administration, , Anadolu Agency, Getty, Army, DoD, Service Locations: Kabul, Afghanistan, US
Businesses are adding $90 billion in fees to consumer's bills each year, according to one estimate. US consumers spend more than $650 a year per household on "junk fees," per the CEA. AdvertisementBusinesses are adding $90 billion in surprise "junk fees" to customers' bills each year — and it is starting to backfire. Junk fees are hidden costs that are added to product prices. Last June, President Joe Biden said his administration had taken steps to crack down on junk fees.
Persons: , Noelle Weaver, Bradley Walker, Walker, Merrilee Bridgeman, Joe Biden Organizations: Service, White House Council, Economic Advisers, National Bureau of Economic Research, Wall Street, Democratic Locations: New Orleans, Charlotte , North Carolina
Prime Minister Rishi Sunak of Britain will tell university leaders on Thursday to do more to combat antisemitism on college campuses, in a sign of rising dissatisfaction within government about the recent growth of encampments set up by students protesting the war in Gaza. Vice chancellors from some of Britain’s prominent universities have been invited to Downing Street to discuss “escalating antisemitic abuse toward Jewish students in the U.K.,” Mr. Sunak’s office said in a statement issued in advance of the meeting. But small-scale, largely peaceful protest encampments have sprung up recently around several universities, including Oxford, Cambridge, Newcastle, Leeds and Manchester. “Universities should be places of rigorous debate but also bastions of tolerance and respect for every member of their community,” Mr. Sunak said the statement released by his office ahead of the meeting. “A vocal minority on our campuses are disrupting the lives and studies of their fellow students and, in some cases, propagating outright harassment and antisemitic abuse.
Persons: Rishi Sunak, ” Mr, Sunak, , Organizations: Locations: Britain, Gaza, Oxford, Cambridge, Newcastle, Leeds, Manchester
CNN —A Berlin senator was attacked while visiting a library on Tuesday, amid what appears to be an increasing trend of violence against politicians in Germany. Franziska Giffey, Berlin senator for economy, was hit over the head with a bag containing hard material as she visited the library in her district in the German capital Tuesday afternoon, the Berlin prosecutor’s office said in a statement. Giffey, a former Berlin mayor, described the moment of the attack on Instagram, saying “I suddenly felt a hard blow to my head and neck from behind. The Green party in Saxony wrote on X that its members would continue campaigning, and would not be intimidated. It also said it would support a draft law to increase legislation around protection against attacks on politicians.
Persons: Franziska Giffey, , Chancellor Olaf Scholz’s, Giffey, ” Scholz, Ursula von der Leyen, Organizations: CNN, Chancellor Olaf Scholz’s Social Democratic Party, SPD, Green Locations: Berlin, Germany, Dresden, Saxony
The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.
Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, , UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com
CNN —President Joe Biden sat down with CNN’s Erin Burnett on Wednesday for a rare, one-on-one television interview with a member of the national media. But Biden expanded, suggesting protesters have gone too far:There is a legitimate right to free speech and protest. There’s a legitimate right to do that and they have a right to do that. But there’s not a legitimate right to use hate speech. There is not a legitimate right to block people’s access to class.
Persons: Joe Biden, CNN’s Erin Burnett, Biden, Donald Trump, We’ve, they’re, ” Biden, , SSRS, Jennifer Agiesta, He’s, I’ve, Trump, won’t, , , Joe ”, There’s, there’s, Israel, bin, They’re, “ We’re Organizations: CNN, Biden, Trump, University of Michigan, Microsoft Locations: Wisconsin, Midwest, Israel, Racine , Wisconsin, Scranton, , Gaza, Afghanistan, Iraq, Rafah
When it comes to traveling from Florida to Virginia, the Amtrak Auto Train is one of the best ways to get around. By riding the Auto Train, I saved over 900 miles on my car and skipped all of the traffic on Interstate 95. Here's what taking the Amtrak Auto Train was like and why I think it's worth every penny. When it came to purchasing tickets for the Amtrak Auto Train, I tried to pick the cheapest option, which was in the coach section. Unloading my car was a pretty simple processThe Amtrak Auto Train boarding and unloading process was pretty smooth.
Persons: , I've Organizations: Service, Amtrak, Business, Amtrak Auto, Amtrak Auto Train, Getty Locations: Florida, Virginia, Sanford , Florida, Lorton , Virginia, Miami, stow
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