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You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. When I worked as an insurance agent for a brokerage, David was the CFO. A knock at the door changed everythingI liked my job, but I knew a good deal when I saw it. As he reached the door, David turned around, and his car keys slipped out of his hand.
Persons: , David, we've, We've Organizations: Service, Business
Biden Tries to Close a Loophole
  + stars: | 2024-06-05 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
President Biden’s latest executive actions on immigration are an attempt to shrink a loophole that has allowed many people to enter the country without legal permission. That loophole is the asylum system. Not as intendedThe modern idea of asylum stems from World War II. Today, many migrants claim asylum even though they are not at risk of being persecuted. They instead want to move to the U.S. — understandably enough — because it is a richer, politically freer and less violent place than much of the world.
Persons: Biden’s, Locations: South Sudanese
Mexico Elects Claudia Sheinbaum
  + stars: | 2024-06-03 | by ( David Leonhardt | Ian Prasad Philbrick | ) www.nytimes.com   time to read: +1 min
When foreigners hear news from Mexico, it can often sound chaotic, involving cartels, crime or migration surges. But last night’s election results make clear that most Mexicans are pleased with their country’s direction. Claudia Sheinbaum — the former mayor of Mexico City and the chosen successor of the current president, Andrés Manuel López Obrador — won the presidency easily. Sheinbaum, a leftist-leaning engineer, received about 58 percent of the vote, to around 29 percent for Xóchitl Gálvez, a centrist entrepreneur, and about 11 percent for Jorge Álvarez Máynez, a progressive candidate. In today’s newsletter, we’ll explain why most Mexican citizens have been so satisfied with López Obrador (who’s often known by his initials, AMLO) and what challenges Sheinbaum will likely face, starting with violent crime, which is indeed a major problem.
Persons: Claudia Sheinbaum —, Andrés Manuel López Obrador —, Gálvez, Jorge Álvarez Máynez, López Obrador, Sheinbaum Locations: Mexico, Mexico City
David Levy, a Moroccan-born Israeli who rose from ditch digger to Israel’s political heights, often embodying the resentments of Jews of North African and Middle Eastern origin who felt ill-treated by Europe-rooted elites, died on Sunday at a hospital in Jerusalem. The cause was not disclosed, but he had recently been treated for heart and kidney ailments. His death was announced by the Israeli government. Mr. Levy was Israel’s foreign minister three times in the 1990s and its deputy prime minister even more often across two decades. And on vital foreign policy matters, like negotiations with the Palestinians and Arab states or the management of relations with the United States, he was shunted aside by prime ministers who reserved those responsibilities for themselves.
Persons: David Levy, Levy Locations: Moroccan, North, Europe, Jerusalem, United States
The Conviction of Donald J. Trump
  + stars: | 2024-05-31 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
The criminal justice system finally caught up to Donald Trump. First, he was a New York businessman whose company violated discrimination laws, failed to repay debts and flirted with bankruptcy. Yesterday, however, a criminal jury judged Trump for the first time. The prosecutors argued that Trump had falsified business records to hide a sexual affair from voters and corrupt the 2016 election. Trump has become the first former president of the United States to be a convicted felon.
Persons: Donald Trump, Trump Locations: New York, Georgia, Manhattan, United States
Patriotism, Diversity and the Election
  + stars: | 2024-05-30 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
Student debt. One is the contrast between the country’s most heated political debates and the top concerns of most voters. Student debt and housing costs make for a useful comparison. Student debt, a subject that the Biden administration has emphasized, may seem like the ultimate pocketbook issue. In reality, it’s more niche: Only 18 percent of U.S. adults have any federal student debt.
Persons: Biden Organizations: Democratic Locations: Gaza, U.S
A new women's basketball league has attracted a star-studded roster of investors from the media and sports world at a time when ratings and general interest in the WNBA and other professional women's leagues is rising. Unrivaled, the pro women's basketball league founded last year by New York Liberty's Breanna Stewart and Minnesota Lynx's Napheesa Collier of the WNBA, said Thursday that it had closed on a seed funding round ahead of its January launch. Athletes will be given equity in the new league, and Unrivaled said it will also feature contract opportunities that will offer the highest average salary in women's pro sports league history. Many female athletes play in other countries when the WNBA season ends to boost their earnings potential. Unrivaled's season will run from January to March and feature 30 of the top women's basketball players across six teams for a 3-on-3, compressed full court style of play on a soundstage in Miami.
Persons: Napheesa Collier, New York Liberty's Breanna Stewart, John Skipper, Turner, David Levy, Ann Sarnoff, Star Carmelo Anthony, Alex Morgan, David, Skipper, Alex Bazzell, Stewart, Collier Organizations: Minnesota Lynx, New York Liberty, Target, New York, ESPN, Warner Bros, NBA, U.S, soccer, Meadowlark Media, WNBA Locations: Minneapolis , Minnesota, New, Minnesota, U.S, Miami
Democrats Who Are Winning
  + stars: | 2024-05-29 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
Recent polls contain a surprising combination of results: Democrats appear to be leading in six tough Senate races even as President Biden trails Donald Trump in the same states. What are these Democratic Senate candidates doing right? In today’s newsletter, I’ll highlight the single biggest theme that emerged: The six Democrats are basing their campaigns around a populism that harshly criticizes both big business and China. (In a follow-up newsletter, I’ll look at several other campaign themes.) Still, most of the Democrats in these races aren’t merely ahead in the polls; they also have a track record of winning tough races by appealing to voters who are skeptical of the Democratic Party.
Persons: Biden, Donald Trump, It’s Organizations: Democratic, Democratic Party Locations: China
Addressing Immigration
  + stars: | 2024-05-23 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
President Biden and his aides describe this year’s election as crucial — existential, even — because of Donald Trump’s hostility to democracy. Yet given the election’s importance, the Biden administration has been notably slow to address one of his biggest political vulnerabilities: immigration. Polls show that immigration is a top concern of voters, often trailing only the economy. Most voters are unhappy with Biden’s handling of the issue and say they trust Trump more on it. Despite this situation, the White House has been reluctant to act aggressively for most of the past few years.
Persons: Biden, Donald Trump’s, Trump Organizations: Democratic, White, Politico
The Rise of a New Centrism
  + stars: | 2024-05-20 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
Washington, you often hear, is a place so polarized that our leaders barely get anything done. Senator Elizabeth Warren, a progressive leader, has worked on legislation with several conservative Senate Republicans, including Josh Hawley and J.D. My editors recently asked me to make sense of this conundrum: A polarized country in which bipartisanship has somehow become normal. To do so, I spoke with Congress members from both parties, as well as Biden administration officials and outside experts. I emerged from the project believing that the U.S. was indeed a polarized country in many ways — but less polarized than people sometimes think.
Persons: Biden —, Donald Trump’s, , Elizabeth Warren, Josh Hawley, J.D, Vance, Lina Khan —, Biden, ” Biden, bipartisanship Organizations: Democrats, Republican, Republicans, Federal Trade Commission Locations: U.S
A New Centrism Is Rising in Washington
  + stars: | 2024-05-19 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
The Republican Party has moved to the right by many measures, and the Democratic Party has moved to the left. One consequence of this polarization, politicians and pundits often say, is gridlock in Washington. These years have been arguably the most productive period of Washington bipartisanship in decades. After the bill’s passage, far-right House Republicans tried to oust Speaker Mike Johnson because he did not block it — and House Democrats voted to save Johnson’s job. Last week, the House advanced another bipartisan bill, on disaster relief, using a rare procedural technique to get around party-line votes.
Persons: Washington bipartisanship, Biden, Mike Johnson Organizations: Republican Party, Democratic Party, Republicans, Postal Service, Trump, House Democrats Locations: Washington, Ukraine
How Israeli Extremists Won
  + stars: | 2024-05-16 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
Last October, an Israeli settler in the West Bank set a Palestinian home on fire. And last fall, a settler shot a Palestinian in the stomach in front of an Israeli soldier. Yet the authorities have not charged any of these settlers — or others who have attacked West Bank residents — with crimes. In it, they document how violent factions within the settler movement have repeatedly received protection from the Israeli government despite attacks against Palestinians — and even against Israeli officials who tried to challenge the settlers. An Israeli government report in 1982 documented the problem, to no effect.
Persons: , Ronen Bergman, Mark Mazzetti, ” Ronen, Mark, Organizations: West Bank, Times Magazine Locations: , of Israel
A New Rent-Versus-Buy Calculator
  + stars: | 2024-05-13 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
It is the biggest financial decision for many younger adults: Should I rent a home or buy one? To help people understand the trade-offs, The Times has just relaunched its popular rent-versus-buy calculator. The calculator, which The Times’s Upshot section built, has been updated in several important ways, including to take into account the 2017 tax law that affected the mortgage-interest deduction. Ultimately, the calculator can’t tell you whether you should rent or buy. That decision depends on the future paths of home prices and rents, which are unknowable.
Organizations: Times
The Debate Over Rafah
  + stars: | 2024-05-10 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
At the heart of the dispute between President Biden and Benjamin Netanyahu over invading Rafah is a larger disagreement about what Israel can reasonably hope to accomplish against Hamas. Israel’s military has already made progress, having dismantled at least 18 of Hamas’s 24 battalions since the Oct. 7 attacks. But Hamas’s top leaders and thousands of fighters have survived, many evidently fleeing to tunnels under Rafah. “Ending the war without clearing out Rafah is like sending a firefighter to extinguish 80 percent of the fire,” Benny Gantz, a member of Israel’s war cabinet and Netanyahu’s chief political opponent, has told U.S. officials. The Wall Street Journal editorial board, which tends to support Netanyahu, has called Rafah “the crucial city for the terrorist group’s future.”
Persons: Biden, Benjamin Netanyahu, I’ll, Netanyahu, ” Benny Gantz, Organizations: U.S Locations: Rafah, Israel
On Friday night, in the premiere of his appealingly chaotic livestreaming variety show “Everybody’s in L.A.,” which runs every night this week, John Mulaney delivered a monologue about his adopted city next to a map that broke it down into a crooked jigsaw puzzle of neighborhoods. It’s the biggest comedy showcase of the year (with more than 500 offerings, a 40 percent increase from the festival’s already mammoth debut event in 2022) but also something of a corporate flex. Who else could get Hannah Gadsby and Shane Gillis in the same festival or draw the talk-show titans Jon Stewart and David Letterman to host events? The most newsworthy shift this year was the aggressive move into livestreaming events, following the blockbuster success of Chris Rock’s 2023 special, “Selective Outrage,” about being slapped at the Oscars. (One of that ceremony’s hosts, Wanda Sykes, returned to the place it happened, the Dolby Theater, for a festival show and began by saying this time no one would get assaulted).
Persons: John Mulaney, Hannah Gadsby, Shane Gillis, Jon Stewart, David Letterman, Chris Rock, Billy Crystal, , Harry Met Sally, , Tracee Ellis Ross, Meg Ryan’s, Chris Rock’s, Wanda Sykes Organizations: Netflix, Dolby Locations: L.A, Los Angeles
Now 42, Bilimoria is the sole partner of Refactor Capital, the early-stage venture-capital firm he launched in 2016. Through Refactor Capital, Bilimoria has backed unicorn companies including the green-chemical manufacturer Solugen and the space startup Astranis. AdvertisementTwo years later, Lee stepped down as a general partner — making Bilimoria the firm's sole investor. Life as a solo partnerAs a solo partner, "all the successes and all the challenges are on my shoulders," Bilimoria said. Refactor Capital invests in about eight companies every year and is deploying capital out of its third fund.
Persons: , Bilimoria, Andreessen Horowitz —, weren't, Andreessen Horowitz, David Lee, Lee Organizations: Service, University of Pennsylvania, Business, Microsoft, Netflix, Google, Twitter, Fund, SV Angel Locations: Northwest Indiana
Bad Bunny, Jennifer Lopez, Chris Hemsworth and Zendaya will co-chair this year's Met Gala for the exhibition "Sleeping Beauties: Reawakening Fashion." The first celebrities to appear will be Gala co-chairs Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth, the last of whom is making his Met Gala debut. What was the first Met Gala theme? Gwyneth Paltrow famously called the Met Gala “un-fun” in 2013 and said she’d “never” go again, but returned in 2017 (and 2019). Met Gala guests have often broken the no-social-media rule to give a more candid glimpse of who is hanging with who and what goes on behind closed doors.
Persons: CNN —, , Jared Leto’s, Rihanna, J.G, Ballard, Andrew Bolton, Bunny, Jennifer Lopez, Chris Hemsworth, Zendaya, James Devaney, Victor Aubry, Christina House, Neil Mockford, Bad Bunny, Anna Wintour, Wintour, Arturo Holmes, Karl Lagerfeld, Rei Kawakubo, Charles James, Christian Dior, Alexander McQueen, Gianni Versace, Angela Weiss, Lagerfeld, Anne Hathaway, Nicole Kidman, Jenna Ortega, Chanel, Fendi, Eleanor Lambert, Diana Vreeland, LaunchMetrics, Calvin Klein, , ” Cher, Ron Galella, , Lady Gaga, Kardashian, Jenners, Donald Trump, James Corden’s, Demi Lovato, Zayn Malik, Tina Fey, Fey, David Letterman ”, backtrack, Gwyneth Paltrow, she’d “, Olivia Wilde, Margaret Zhang, Kevin Mazur, Bella Hadid, Dakota Johnson, Jason Derulo, Jay, Solange, it’s, ” Wilde Organizations: CNN, Metropolitan Museum of Art, Costume Institute, Los Angeles Times, American Vogue, New York Times, Getty, Super, Hollywood, Vogue, “ Vogue China Locations: New York, British, American, China
Inflation canceled that, and now it's almost certain that Wall Street's summer is canceled, too. That means Wall Street's fantasies of decamping to the Hamptons for the summer have shattered. You can see why this tug-of-war will keep Wall Street on its toes and off Georgica Beach. There is a certain set on Wall Street that does not get to "rosé all day" on Hamptons summer water when currencies trade that way. The simplicity that Wall Street hoped for is one of the few options that's no longer on the table.
Persons: , Justin Simon, decamping, Jerome Powell, opportunistically, Jamie Dimon, Torsten Slok, Slok, Powell, we'd, David Lefkowitz, dory, McDonald's, Silas Myers, Wall, Zuck, Simon, they're, it's Organizations: Federal Reserve, Jasper Capital, Nasdaq, Hamptons, JPMorgan, Fed, Pepsi, Mar Vista Investments, Wall, Nvidia, Tesla, Microsoft, Meta, Apple, EU Locations: Georgica, Japan
Warning: Spoilers ahead for "The Fall Guy." But by the end of the movie, director David Leitch blesses us with one more big-name star: Jason Momoa. "The Fall Guy" is set around the production of a big-budget sci-fi epic titled "Metalstorm," which stars Aaron Taylor-Johnson's character, Tom Ryder, and is directed by Emily Blunt's character, Jody Moreno. AdvertisementRyan Gosling and Emily Blunt in "The Fall Guy." "The Fall Guy" is in theaters now.
Persons: Guy, David Leitch, , Ryan Gosling, Emily Blunt, Hannah Waddingham, Winston Duke, Stephanie Hsu, Aaron Taylor, Johnson, Jason Momoa, Tom Ryder, Emily Blunt's, Jody Moreno, Ryan Gosling's, Colt Seavers, Ryder, Moreno, Leitch's, Jason, Conan, Leitch, " Leitch, Momoa, Brad Pitt, Hobbs, Shaw, Kevin Hart, Channing Tatum, Ryan Reynolds Organizations: Service, Universal Sporting Locations: Australia, New Zealand
Their latest film, "The Fall Guy," looks to continue that streak of success. 'The Fall Guy' evolved from film noir to action rom-comRyan Gosling plays stuntman Colt Seavers in "The Fall Guy." Eric Laciste/Universal Pictures"The Fall Guy" movie adaptation had been bouncing around Hollywood for decades, with everyone from Nicolas Cage to Dwayne "The Rock" Johnson attached to star. AdvertisementIn "The Fall Guy," Gosling's Colt must clear his name after footage appears to implicate him in the death of another stuntman. AdvertisementThe Taylor Swift song "All Too Well" wasn't originally in the movieRyan Gosling and Emily Blunt in "The Fall Guy."
Persons: , David Leitch, Kelly McCormick, they've, Shaw, Guy, it's, Lee Majors, Colt Seavers, Ryan Gosling, Jody Moreno, Emily Blunt, Leitch, McCormick, who's, Brad Pitt, McCormack, Gosling, Blunt's, Eric Laciste, Nicolas Cage, Dwayne, Johnson, David, Blunt, Jody, Emily, " Leitch, Ryan, Leitch David Leitch, Kiss, Yungblud, I'm, Tom Cruise's, Taylor, Colt, Harry Nilsson's, Taylor's Organizations: Service, Business, Pictures, Universal, Colt, deepfakes, Hollywood Locations: Hollywood
Critics highlight the strong chemistry between stars Ryan Gosling and Emily Blunt. But what he's elevated here with "The Fall Guy" is telling the story within a movie-in-a-movie structure. "The Fall Guy" features everything from Phil Collins' "Against All Odds (Take A Look At Me Now)" to Taylor Swift's "All Too Well." AdvertisementEmily Blunt and Ryan Gosling are a perfect tandem, giving the movie a rom-com vibeRyan Gosling and Emily Blunt in "The Fall Guy." "The Fall Guy" definitely has that vibe with its lighthearted tone and thrills.
Persons: Ryan Gosling, Emily Blunt, Guy, , Lee Majors, Colt Seavers, Aaron Taylor, Johnson, David Leitch, Here's, Leitch, Drew Pearce, Chris O'Hara, Eric Laciste, Phil Collins, Taylor, Katie, Gosling, Blunt, Lovia Gyarkye, David Fear, Jonathan Sela, Peter Debruge Organizations: Rotten, Service, Universal Pictures, Universal, Hollywood, Variety Locations: Hollywood
Holladay was driving the cars during the early car crash scene and the final car jump scene. He recalled breaking the Guinness World Record for most cannon rolls performed in a car to Business Insider. When I was hired as Ryan Gosling's stunt driver for "The Fall Guy," the film's stunt coordinator gave me one big objective. Although we had other stunts and cannon rolls to perform for other scenes, completing this big stunt felt like a real victory. A side-by-side picture of the car jump.
Persons: Logan Holladay, Ryan Gosling's, Guy, Holladay, , Adam Kirley, Daniel Craig's, Eric Laciste, we'd, Ryan Gosling, David Leitch, Colt, Tom Ryder, Aaron Taylor, Johnson, Emily Blunt, Chris O'Hara, Ryder Organizations: Business, Service, Guinness, Universal Pictures Locations: Sydney, Australia
Less than a month ago, analysts were calling for subdued earnings growth of just 3%. Although higher rates can be a headache, Lefkowitz said earnings growth matters most. Instead of obsessing over when interest rates will fall, Lefkowitz said investors should consider the reasoning behind the Fed's decisions. "If rates are rising and that's leading to more confidence in the earnings growth outlook, then that shouldn't be a headwind to markets," Lefkowitz said. Follow this 5-part investing game planHealthy earnings growth and a resilient economy have strategists at UBS GWM bullish about US stocks.
Persons: Jonathan Golub, weren't, that's, David Lefkowitz, Lefkowitz, , shouldn't Organizations: UBS Global Wealth Management, UBS, Business, UBS GWM, Bank of America, Federal, Healthcare
Large technology stocks have continued to be a key driver of earnings growth. Those calls are based on the firms' expectation that the economy will continue to grow despite uncomfortably high interest rates. Bullish firms concur that elevated interest rates are a serious concern for investors. "Should the outlook for earnings growth deteriorate, the recent stretch of quality outperformance will likely continue and also expand to include stocks with stable growth," Kostin wrote. Along with each is its ticker, market capitalization, sector, 2024 expected earnings growth rate, and 10-year EBITDA growth variability rate, according to Goldman Sachs.
Persons: Morgan Stanley, That's, Jonathan Golub, David Lefkowitz, Stocks, they've, Mike Wilson, Morgan, 19.3x, Goldman Sachs, David Kostin, Wilson, Kostin, Russell Organizations: UBS, Business, UBS Beats, UBS Global Wealth Management, Companies, Federal Reserve
But the Hollywood strikes pushed the release date for "Deadpool & Wolverine, so "The Fall Guy" stepped in. 2012's "The Avengers" brought in $207 million opening weekend and grossed over $1.5 billion worldwide. 'The Fall Guy' doesn't need to earn what past Marvel titles did to be successfulRyan Gosling in "The Fall Guy." There have to be other big winners, and that's where "The Fall Guy" comes in. "The Fall Guy" is tracking in the mid-$30 million range for this weekend, multiple industry sources told BI.
Persons: Guy, , David Leitch, Ryan Gosling, Emily Blunt, Tim Handren, Hadren, Jeff Bock, Bock, Max Organizations: Marvel, Service, WGA, SAG, Santikos Entertainment, Marvel Studios, Hollywood Locations: Hollywood, Antonio
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