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A federal judge in New Jersey on Monday rejected Johnson & Johnson 's and Bristol Myers Squibb 's legal challenges to the Biden administration's Medicare drug-price negotiations, ruling that the program is constitutional. J&J and Bristol Myers Squibb did not immediately respond to requests for comment on the ruling. J&J, Bristol Myers Squibb, Novo Nordisk and Novartis presented their oral arguments before Quraishi during the same hearing in March. That same month, a federal judge in Delaware rejected AstraZeneca's separate lawsuit challenging the negotiations. In Texas, a third federal judge tossed a separate lawsuit in February.
Persons: Johnson, Bristol Myers, Joe Biden's, Zahid Quraishi, Quraishi, Bristol Myers Squibb's, AstraZeneca's Organizations: Bristol, Bristol Myers Squibb, Biden, White, Supreme, Final, of New, Novo Nordisk, Novartis, Chamber of Commerce Locations: New Jersey, U.S, of New Jersey, Delaware, Texas, Ohio
Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.
Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America
Federal Reserve Chairman Jerome Powell met with the press after the March Federal Open Market Committee (FOMC) meeting, which was pretty fraught. Data centers If there is the whiff of a data center or anything in one, the stock goes higher. It's why Meta stock is a buy a tad lower as stocks tend to revisit those kinds of declines. I worry about Club stock Stanley Black & Decker for this reason, but the dividend will keep it propped up for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: what's, Jerome Powell, Powell, Powell isn't, Voltaire, Vertiv, Eaton, Meta, It's, jetsam, Darius Adamczyk, Vimal, Stanley Black, Decker, Azek, Morgan Stanley, Wells, Charlie Scharf, Wells Fargo, Chipotle, that's, Johnson, Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Scott Mlyn Organizations: Federal, Market, Broadcom, Google, Microsoft, Nvidia, Travel American Express, Raytheon, GE Aerospace, Royal, AAR, Honeywell, Southwest Airlines, Housing, Stanley, JPMorgan, Procter, Gamble, Colgate, Merck, Bristol, Myers, PepsiCo, Energy, Coterra Energy, Diamondback, drillers, CNBC Locations: California, Royal Caribbean, Delta, Devon
Before Helen Leddy moved to Shell Point Retirement Community in Fort Myers, Fla., last year, she got the lowdown on the place from her best friend, Judy Burget. Ms. Leddy, 86, wasn’t interested in leaving her condo if it meant adopting one part of the culture Shell Point emphasized on its website: “If you go online, you see they’re built around religion,” she said. As a Unitarian Universalist who grew up Jewish, Ms. Leddy was concerned that the denomination that founded Shell Point, the evangelical Christian and Missionary Alliance, might promote values that did not match hers, and that her new neighbors might proselytize. Ms. Burget, who has lived at Shell Point for six years, told her that wasn’t going to happen. Faith-based communities like Shell Point, which was established in 1968, generally don’t insist that residents subscribe to the religion that shaped the communities, according to Katie Smith Sloan, the president and chief executive of LeadingAge, an association of nonprofit providers of aging services.
Persons: Helen Leddy, Judy Burget, Leddy, wasn’t, , Burget, Katie Smith Sloan Organizations: Retirement, Unitarian, Shell, Christian, Missionary Alliance, Shell Point Locations: Fort Myers, Fla, Shell
The October report found that around 13% of Americans reported economic hardship over the prior year due to climate change. Climate change could cost Americans born in 2024 nearly $500,000, due to higher taxes and pricier housing and food, among many other factors, ICF, a consulting firm, recently found in a report commissioned by Consumer Reports. Stan Honda | AFP | Getty ImagesOther health effects of climate change reflect more widespread shifts in global conditions. "There are clear interactions between heat waves and health conditions," said Charles Driscoll, a professor at Syracuse University who studies climate change. Climate change leads to droughts, which lead to crop failures, which cause food price spikes.
Persons: Chandan Khanna, Andrew Rumbach, Eva Marie Uzcategui, Wagner, Rumbach, Stan Honda, Charles Driscoll, Driscoll, Ringo H.W, Chiu, Mark Kantrowitz, Gernot Wagner Organizations: AFP, Getty, U.S . Department of, Treasury, Consumer Reports, Urban Institute, Bloomberg, U.S . Census, Insurance, Swiss Re Institute, Health, Natural Resources Defense, Syracuse University, International Labour Organization, Kaiser Family Foundation, of Labor Statistics, Columbia Business Locations: Fort Lauderdale , Florida, U.S, Fort Myers Beach , Florida, Florida , Louisiana, California, Hurricane, Queens, New York, Malibu, Malibu , Calif
The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, US, on Wednesday, Dec. 27, 2023. Bristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as its blockbuster blood thinner Eliquis and several new drugs posted sales growth. Two-thirds of savings are associated with drug research and development, Bristol Myers Squibb executives said during an earnings call on Thursday. Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments. Shares of Bristol Myers fell more than 1% in premarket trading Tuesday.
Persons: Bristol Myers, Samit Hirawat, Chris Boerner, Boerner, Revlimid Organizations: Bristol Myers Squibb, Bristol Myers, Karuna Therapeutics, SystImmune, Bristol, LSEG Locations: Cambridge, Cambridge , Massachusetts, Here's
Some companies that are about to report earnings could see a slide in their share prices. With the busiest week of earnings season underway, investors are certainly in for a hectic time. Nearly a third of the companies in the S & P 500 are scheduled to report their earnings this week. CNBC Pro screened the S & P 500 for companies that could see their stocks tumble after earnings. Industrial technology company Rockwell Automation has had its earnings revised downward 29 times in the past three months.
Persons: Myers Squibb, Steve Chesney Organizations: CNBC Pro, Myers, Bristol, Myers Squibb, Rockwell Automation, Gilead Sciences Locations: Bristol, Biopharmaceutical, Gilead
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. U.S. stock futures fell on Wednesday night after tech juggernaut Meta Platforms reported its latest quarterly results. S&P 500 futures slid 0.6%, and Nasdaq 100 futures dropped 1.1%. Meta Platforms plunged 15% in extended trading after the social media giant issued second-quarter revenue guidance that was lighter than expected. Fed funds futures trading suggests the first cut could take place at the September Fed meeting, according to CME FedWatch Tool.
Persons: Dow Jones, Anastasia Amoroso, Northrop Grumman, Myers Squibb Organizations: New York Stock Exchange, Traders, Dow Jones, Nasdaq, Business Machines, Dow, Federal, FedWatch, Caterpillar, Honeywell, Northrop, American Airlines, Comcast, Merck, Bristol, Myers, CNBC Locations: New York City . U.S
Signage is displayed on the exterior of the Novartis AG Institutes for BioMedical Research building in Cambridge, Massachusetts, U.S., on Friday, Aug. 5, 2016. Swiss drugmaker Novartis on Tuesday raised its full-year guidance after reporting better-than-expected first-quarter results. In a statement, it said 2024 net sales would likely grow by a high-single to low double-digit percentage with adjusted operating income expected to grow by a low double-digit to mid-teens percentage. It has previously predicted that adjusted operating income would increase by a "high single-digit" percentage with "mid single-digit" sales growth. Quarterly adjusted operating income gained 16% to $4.54 billion, beating an average analyst estimate of about $4.3 billion.
Persons: Bristol Myers, Giovanni Caforio, Joerg Reinhardt, Vas Narasimhan, Sandoz Organizations: Novartis, Institutes, Research, Bristol, Bristol Myers Squibb Locations: Cambridge , Massachusetts, U.S
The Nasdaq sank 2% on Friday as Netflix dropped nearly 11% post-earnings and Club stock Nvidia fell 10%, entering bear market territory but still up more than 50% in 2024. Following a much stronger-than-expected March retail sales report last month, fresh economic data and six Club stock earnings will take center stage in the week ahead. While lower rates may help stock multiples, that is not a sustainable path to higher equity prices over time. Earnings : The latest quarterly reporting season is starting to ramp into high gear with six Club names set to report next week. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Dow, Jerome Powell, Jim Cramer, Mark, Meta, Bing, Ford, Vimal, Lockheed Martin, Clark, Philip Morris, Sherwin, Williams, Baker Hughes, Lam, Northrop, Dr Pepper, CARR, Edwards Lifesciences, Jim Cramer's, Jim, Michael M Organizations: Nasdaq, Netflix, Nvidia, Dow Jones, Federal, Fed, Hamas, Gross, Google, Reality Labs, General Motors, Honeywell, Microsoft, Verizon Communications, Albertsons Companies, SAP, Cadence Design Systems, United Parcel Service, General Electric, GE, PepsiCo, Lockheed, Spotify Technology, RTX Corporation, JetBlue Airways, Halliburton, HAL, Philip Morris International, Quest Diagnostics, Texas Instruments, Seagate Technology, Mattel, Veralto Corporation, Boeing, General Dynamics, Boston, Hilton, Fisher, Otis Worldwide, IBM, Grill, Viking Therapeutics, Lam Research, Whirlpool, WM, Honeywell International, Royal Caribbean Cruises, American Airlines, Altria, Newmont, Caterpillar, Southwest Airlines, Myers Squibb, AstraZeneca, Mobileye, Northrop Grumman, CNBC, Comcast, Merck, Dow Inc, Carrier Global, Union Pacific, Intel, Western, Mobile, L3Harris Technologies, Exxon Mobil, Chevron, Colgate, Palmolive, HCA Healthcare, Charter Communications, Newell Brands, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: Israel, Iran, Ukraine, destocking, China, Cleveland, Freeport, McMoRan, Kimberly, Masco, Bristol, New York City
Here are the backup solutions I now put in place before leaving home — and why you might want to try them if you're traveling anytime soon. AdvertisementBut when stopping for fuel 600 miles away from home, with 1,100 miles remaining, "Key battery low, replace soon" appeared on my car's display. I didn't bring my spare smart key fob, let alone a flathead screwdriver or a replacement battery. The smart lock wouldn't let us lock the door. If it's a smart lock, I ask for a contingency plan in case the tech isn't so bright.
Persons: , I've, I'm Organizations: Service, Apple, Google Locations: , Fort Myers , Florida, Minneapolis, fobs, Dallas
These are the 10 most overvalued stocks in the S&P 500
  + stars: | 2024-04-18 | by ( Pia Singh | ) www.cnbc.com   time to read: +2 min
Shares of these companies would be considered overvalued, meaning they're trading at a current price that is not justified by their P/E ratio. Super Micro Computer trades at a 32.9 forward P/E, which is 173% above the five-year average P/E of 12.1. Microchip Technology is trading 73% above its five-year average P/E ratio of 15.8, while Broadcom is trading at a 58% premium. Eli Lilly is another overvalued name, as the stock is trading at a 71% premium to its five-year average. Other expensive stocks included in the list include copper producer Freeport McMoRan , pharmaceutical company Bristol-Myers Squibb and Tyson Foods .
Persons: Dow, Eli Lilly, Mounjaro, Eli Lilly's, Myers Squibb Organizations: Nasdaq, CNBC, Computer, Broadcom, Technology, Micro Computer, Bristol, Myers, Tyson Foods Locations: Freeport
David Ellison, CEO of Skydance Media attends the 81st Annual Golden Globe Awards at The Beverly Hilton on January 07, 2024 in Beverly Hills, California. David Ellison, the son of Republican megadonor Larry Ellison, gave $929,600 to back the re-election efforts of President Joe Biden, putting him among the top recent donors to the incumbent Democrat. David Ellison's donation is the largest recorded contribution that the Skydance Media CEO ever made to a federal candidate, according to Federal Election Commission records. David Ellison's donation comes as his father, Larry Ellison, the chairman of Oracle, has kept his wallet firmly shut this election cycle. Larry Ellison donated more than $31 million to Republican candidates during the 2022 congressional midterms, according to data from OpenSecrets.
Persons: David Ellison, The Beverly Hilton, Larry Ellison, Joe Biden, David Ellison's, George Conway, Donald Trump, Dustin Moskowitz, Charles Myers, bundler, Biden, Soros, Myers, George Soros, Biden's, Trump, , Jeffrey Katzenberg, Katzenberg, Kurt Rappaport, Rappaport Organizations: Skydance Media, The Beverly, Commission, Biden, Facebook, Oracle, Trump, CNBC, Democratic, Republican, Hollywood Locations: Beverly Hills , California, OpenSecrets, Los Angeles
Kristen Breuss, from the Midwest, worked at Goldman Sachs in New York and London for 20 years. I joined Goldman Sachs in 1990 as an investment banking analyst at the age of 22. My first two years at Goldman Sachs were ridiculously intense, and I was lucky to get a day off, including Sundays. So in 1999, I pitched the idea of Goldman Sachs basing their global training for investment banking in London, and they said yes. At Goldman Sachs, you had to get back to someone within 24 hours, that was the rule.
Persons: Kristen Breuss, Goldman Sachs, , Kristin Breuss, we're, I'd, Briggs, Breuss, It's, I'm, Mary's Organizations: Service, Midwest, Myers, St, Paul's, I'm Locations: New York, London, Michigan, LQBTQ, London —, St Mary's London
The thought of round-the-clock "togetherness" — with friends, family or strangers bound together in a tour group — can be overwhelming to the estimated 57% of people who lean toward introversion. Dori Nix, a marketing and communications director for the Colorado-based women-led tour company Adventures in Good Company, also recommends staying alone, even if means paying a single supplement. 2: Don't get trapped by talkersIn Psychology Today, author Sophia Dembling cautions introverts to research group trips well. "As an introvert, I definitely need small groups," she said. "As an introvert, I definitely need small groups.
Persons: introverts, Jenny Olsen, Olsen, Dori Nix, Sophia Dembling, John Hackston, The Myers, Carl Jung, Hackston, Kelly Kimple, Patty Civalleri, Jonathan Feniak, Myers, Briggs Company's Hackston Organizations: Company, talkers, The, Briggs Company, CNBC, CNBC Travel, Good Locations: Los Angeles, Colorado, Europe, Swiss, Mazatlán, Mexico, New Hampshire, Rocky
Riding Rage Over Israel to Online Prominence
  + stars: | 2024-04-11 | by ( Steven Lee Myers | Tiffany Hsu | ) www.nytimes.com   time to read: +1 min
Jackson Hinkle has cultivated an online persona so incendiary that he has been kicked off YouTube, Twitch and Instagram. Along the way, he has employed false or misleading content, promoted manipulated images and made comments that watchdog organizations have denounced as antisemitic. He calls himself an American patriot even as he praises American adversaries, including Vladimir V. Putin, Xi Jinping and Ayatollah Ali Khamenei. “DROP A LIKE if you stand with IRAN in the face of ISRAELI TERRORISM!” he wrote last week on X after an Israeli airstrike in Syria killed several Iranian military officials. A day later he addressed the Houthi leadership in Yemen over video, praising the group for its attacks on shipping in the Red Sea.
Persons: Jackson Hinkle, Vladimir V, Putin, Xi Jinping, Ali Khamenei, Organizations: YouTube Locations: Israel, American, IRAN, Syria, Yemen, Red
While debate rages on about when the Federal Reserve might start cutting interest rates, biotech industry analysts are making the case that the argument for stocks in the sector is growing. Last week, Morgan Stanley analysts noted that it is the months leading up to an initial rate cut when biotech stocks outperform. Morgan Stanley also believes the case for biotech stocks is further reinforced by the financing environment and the outlook for mergers and acquisitions as well as upcoming innovation. The case for innovation Morgan Stanley also favors owning biotech stocks that have a strong drug platform even if the key catalyst of clinical trial data and FDA approvals are farther out. Rhythm ranks among the stocks rated overweight that Morgan Stanley favors in this category.
Persons: Morgan Stanley, Needham, Joseph Stringer, dealmaking, Stringer, erosive, it's, Phathom, GERD, LSEG, Merck, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, Oncology, Immunology, Phathom Pharmaceutical, Pharmaceuticals, Phathom Pharmaceuticals, LSEG, Drug, Bristol Myers Squibb, Pfizer, Intellia Therapeutics, Rocket Pharmaceuticals Locations: New Jersey
But J&J's drug is walking away with a notable edge over its rival. They add more options to a growing arsenal of treatments that have helped improve outcomes for people with multiple myeloma. But the new approvals also give J&J's therapy, which was developed with Legend Biotech, a clear advantage over Bristol Myers's drug. J&J's drug has gradually gained ground over Abecma in the CAR-T market for multiple myeloma, even though it first entered the market a year later. With the new approval on Friday, Jefferies' Shi expects J&J's drug to win the majority of that market share.
Persons: Jonathan Raa, Johnson, Myers's, Bristol Myers, Jefferies, Kelly Shi, Shi, Carvykti, Cantor Fitzgerald, Rick Bienkowski, Kelsey Goodwin, Annika, annikakim.constantino@nbcuni.com Organizations: Nurphoto, Bristol Myers Squibb, Johnson, Food and Drug Administration, FDA, Legend Biotech, Bristol, New York Stock Exchange, NYSE, Reuters, Mount Sinai Hospital, Getty Locations: Bristol, U.S, EU, Japan, Mount Sinai, New York City
Seven years ago, Dawn Myers saw Lori Greiner invest in a woman-owned hair company on ABC's "Shark Tank." She felt inspired, and started her own hair company catering to curls and coils. Today, Myers is the founder and CEO of Washington D.C.-based The Most, a parent company for brands Richualist and The Most Curls. Myers, a lawyer by training, said her lack of beauty, tech and engineering experience made it hard to attract investors. She ultimately raised $1.1 million in venture capital while undergoing surgeries and chemotherapy treatments, a Richualist spokesperson tells CNBC Make It.
Persons: Dawn Myers, Lori Greiner, Myers Organizations: Washington D.C, The, CNBC
Economists polled by FactSet anticipate the March consumer price index will show prices rising by 0.3% on a monthly basis, less than February's 0.4% advance. Similarly, the March producer price index is expected to show an increase of 0.5%, according to FactSet consensus estimates. Monday April 8 Tuesday April 9 6 a.m. NFIB Small Business Index (March) Wednesday April 10 8:30 a.m. Consumer Price Index (CPI) (March) 8:30 a.m. Initial Claims (04/06) 8:30 a.m. Producer Price Index PPI Earnings: CarMax Friday April 12 8:30 a.m. Import Price Index (March) 10 a.m. Michigan Sentiment preliminary (April) Earnings: State Street , Wells Fargo , JPMorgan Chase , Progressive , Citigroup
Persons: Stocks, we're, Ross Mayfield, Baird, Mayfield, FactSet, David Einhorn, CNBC's Scott Wapner, he's, Michelle Bowman, Bank's Tom Hainlin, Hainlin, Jamie Myers, JPMorgan Chase Organizations: Federal Reserve, Investors, Treasury Bond, Dow Jones, Nasdaq, . West Texas, Treasury, Fed, Investment Group, Investors Intelligence, American Association of, Walmart, Citigroup, JPMorgan, Index, Treasury Budget NSA, Air Lines, Price Index, Progressive Locations: U.S, Wells Fargo, Michigan
Opinion | Amid Tragedy, Anguished Pleas for Gaza
  + stars: | 2024-04-04 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “Just Let People Eat,” by José Andrés, a chef and the founder of World Central Kitchen (Opinion guest essay, April 4):What a humane, heartfelt and balanced essay by Mr. Andrés after the tragic death of seven World Central Kitchen aid workers in Gaza. Now if only the Israeli people will hear his plea and require the government to open more humanitarian aid routes into Gaza. He beautifully points out the commonality across religions and cultures of our need for food. To the Editor:Re “Is Biden Willing to Use America’s Leverage With Israel?,” by David E. Sanger and Peter Baker (news analysis, April 4):President Biden is “outraged and heartbroken” over the deaths of the seven aid workers in Gaza. David Cameron, the British foreign secretary, says Israel must “make major changes to ensure the safety of aid workers.”
Persons: José Andrés, Mr, Andrés, James Berkman Boston, Elena Reyes Fort, Biden, David E, Sanger, Peter Baker, , , David Cameron Organizations: World, Kitchen, Israel Locations: Gaza, Elena Reyes Fort Myers, Fla, British, Israel
China, Russia and Trump
  + stars: | 2024-04-02 | by ( David Leonhardt | ) www.nytimes.com   time to read: +2 min
America’s biggest adversaries evidently want Donald Trump to win the 2024 presidential election. Some of the Chinese accounts impersonate fervent Trump fans, including one on X that purported to be “a father, husband and son” who was “MAGA all the way! !” The accounts mocked Mr. Biden’s age and shared fake images of him in a prison jumpsuit, or claimed that Mr. Biden was a Satanist pedophile while promoting Mr. Trump’s “Make America Great Again” slogan. In today’s newsletter, I’ll explain what China and Russia hope to gain from a second Trump term. Trump has suggested that he will end this support.
Persons: Donald Trump, Vladimir Putin’s, Trump, Tiffany Hsu, Steven Lee Myers, Donald J, Biden, Biden …, , “ MAGA, Mr, Trump’s, Putin Organizations: Trump Locations: Beijing, China, Russia, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMAI Capital's Grisanti offers 3 buys and a bail: Bristol Myers Squibb, Verizon, Hershey & BoeingChris Grisanti, MAI Capital Management chief equity strategist, joins 'The Exchange' to discuss how to trade Bristol Myers Squibb, Verizon, Hershey, and Boeing.
Persons: Boeing Chris Grisanti Organizations: MAI, Grisanti, Bristol Myers Squibb, Verizon, Hershey, Boeing, MAI Capital Management
Covert Chinese accounts are masquerading online as American supporters of former President Donald J. Trump, promoting conspiracy theories, stoking domestic divisions and attacking President Biden ahead of the election in November, according to researchers and government officials. The accounts signal a potential tactical shift in how Beijing aims to influence American politics, with more of a willingness to target specific candidates and parties, including Mr. Biden. In an echo of Russia’s influence campaign before the 2016 election, China appears to be trying to harness partisan divisions to undermine the Biden administration’s policies, despite recent efforts by the two countries to lower the temperature in their relations. Some of the Chinese accounts impersonate fervent Trump fans, including one on X that purported to be “a father, husband and son” who was “MAGA all the way! !” The accounts mocked Mr. Biden’s age and shared fake images of him in a prison jumpsuit, or claimed that Mr. Biden was a Satanist pedophile while promoting Mr. Trump’s “Make America Great Again” slogan.
Persons: Donald J, Biden, Trump, , “ MAGA, Mr, Trump’s Organizations: Trump, Biden Locations: Beijing, China
Even before the deadly toll of the attack on a Moscow concert hall on Friday became clear, officials in Russia linked it to the war against Ukraine and a broader conflict with the West. Ninety minutes after first reports of the attack, Dmitri A. Medvedev, the former president and the deputy chairman of the Kremlin’s security council, darkly hinted at “terrorists of the Kyiv regime.”The claim of responsibility by the Islamic State did little to temper the Kremlin’s narrative, which has unspooled in a torrent of unsupported accusations and baseless, even fanciful conspiracy theories spread across social media. When President Vladimir V. Putin said “radical Islamists” had carried out the attack, he called it “just an element in a series of attempts of those who have been at war with our country since 2014,” an explicit reference to Ukraine and the upheaval that year that led to the illegal annexation of Crimea. “They need a ‘Big Lie,’” said Nina Khrushcheva, a professor of international affairs at the New School in New York, who has written extensively on Russian politics and propaganda.
Persons: Dmitri A, Medvedev, Vladimir V, Putin, , , ’ ”, Nina Khrushcheva Organizations: Ukraine, West, New School Locations: Moscow, Russia, Kyiv, Ukraine, Crimea, , New York
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