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☆ China lifts ban on five Australian beef exporters
▼ + stars: | 2024-05-29 | by ( ) edition.cnn.com time to read: +2 min

Sydney —China has lifted bans on imports from five major Australian beef processing facilities, the Australian government said on Thursday, in the latest sign of improving relations between the two nations. The bans applied to certain abattoirs but did not affect others, which meant Australia was still able to ship beef to China. China was Australia’s second-biggest beef export market last year, receiving 240,000 tons worth around $1.6 billion, Australian trade data shows. They said China’s trade impediments at their height impacted Australian exports worth 20.6 billion Australian dollars ($13.6 billion). The reasons China gave for suspending the Australian beef processors were issues over labeling or contamination or cases of COVID-19 among their workers.

Persons: ”, Matt Dalgleish, Dalgleish, “, Penny Wong, Don Farrell, Murray Watt Locations: Sydney — China, Beijing, China, Australia, Canberra, United States

Several park visitors were swept off the bridge to their deaths in recent years during periods of high water. The crew members were among thousands of mostly youthful workers who labor to maintain the trails that thread through America’s public lands. The National Park Service recorded 325.5 million visits to its parks last year, up 4 percent over the previous year and the second busiest year on record. But the 236,000 miles of trails that wend their way through the parks, forests and deserts are often neglected and are certainly undervalued. That poses dangers to hikers and impedes access to the wonders that can be found on public lands.

Organizations: Forest, National Park Service Locations: Yosemite, Talladega, Allegheny, Michigan , Minnesota, Wisconsin

☆ Facing Possible Cash Crunch, Giant Real Estate Fund Limits Withdrawals
▼ + stars: | 2024-05-23 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

A giant real estate fund managed by the company of the billionaire investor Barry Sternlicht is limiting the amount of money that investors can redeem, in an attempt to fend off a potential cash crunch as high interest rates pummel the market for commercial properties like office buildings. Starwood Real Estate Income Trust, which manages about $10 billion and is one of the largest real estate investment trusts around, said on Thursday that it would buy back only 1 percent of the value of the fund’s assets every quarter, down from 5 percent earlier. Starwood said that it had chosen to tighten the limit because it was facing more withdrawals than it could meet with its cash on hand, and that it was a better option than raising money by selling properties at discounted prices. The value of commercial properties has fallen — hit both by lower occupancy since the coronavirus pandemic and by high interest rates that make real estate less affordable. In a letter to shareholders, Mr. Sternlicht, who leads the Starwood Capital Group, and Sean Harris, the chief executive of Starwood’s REIT, said: “We cannot recommend being an aggressive seller of real estate assets today given what we believe to be a near-bottom market with limited transaction volumes, and our belief that the real estate markets will improve.”

Persons: Barry Sternlicht, —, Sternlicht, Sean Harris, Starwood’s REIT, ” Organizations: Starwood, Income Trust, Starwood Capital Group

☆ What’s BlackRock Without Larry Fink? Shareholders Fret About Future.
▼ + stars: | 2024-05-18 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Laurence D. Fink built BlackRock into the world’s largest asset manager with a steely grip, a thick skin and a cleareyed vision of what the company could become. Today, it’s a caretaker of $10.5 trillion of investor money and a provider of sophisticated trading technology, and Mr. Fink has been an informal financial adviser to many governments, including the United States. They were on investors’ minds this week at BlackRock’s annual shareholder meeting, as they listened to Mr. Fink talk about the company’s performance and voted on ballot issues. Mr. Fink, BlackRock’s chief executive and chairman, exerts an unusual level of control for someone leading a firm of its size, with nearly 20,000 employees. From writing LinkedIn posts defending BlackRock’s policies to personally finding key deals, he has put his stamp all over the company, which he co-founded in 1988.

Persons: Laurence D, Fink, it’s, Robert F, Kennedy Jr, . Fink Organizations: BlackRock Locations: United States

☆ This under-the-radar tech stock will get a boost from Netflix's new advertising strategy
▼ + stars: | 2024-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A little-known technology stock could win big from Netflix 's shift in advertising strategy. The streaming giant announced Wednesday that it plans to debut its own advertising platform and partner with companies such as The Trade Desk and Magnite as its global ad-tier reaches 40 million monthly subscribers worldwide. While the partnership may take time to ramp up, Citi's Ygal Arounian estimates that it could add $500 million in 2025 gross billings to The Trade Desk. Every 10% of business funneled through The Trade Desk by 2026 could generate 2% upside to revenues, he estimates. "We also highlight TTD's scarcity value as the only scaled independent [demand-side platform] and its leadership in the highly-coveted CTV category."

Persons: Piper Sandler, Matt Farrell, Farrell, Morgan Stanley's Matthew, Chris Kuntarich Organizations: Netflix, billings, The, CTV, UBS

☆ Gov. Jim Justice Faces Heavy Business Debts as He Seeks Senate Seat
▼ + stars: | 2024-05-12 | by ( Campbell Robertson | Maureen Farrell | ) www.nytimes.com time to read: +1 min

Jim Justice, the businessman-turned-politician governor of West Virginia, has been pursued in court for years by banks, governments, business partners and former employees for millions of dollars in unmet obligations. And for a long time, Mr. Justice and his family’s companies have managed to stave off one threat after another with wily legal tactics notably at odds with the aw-shucks persona that has endeared him to so many West Virginians. But now, as he wraps up his second term as governor and campaigns for a seat in the U.S. Senate, things are looking dicier. Much like Donald J. Trump, with whom he is often compared — with whom he often compares himself — Mr. Justice has faced a barrage of costly judgments and legal setbacks. And this time, there may be too many, some suspect, for Mr. Justice, 73, and his family to fend them all off.

Persons: Jim Justice, Joe Manchin III, Donald J, — Mr, Justice Organizations: West Virginians, Republican Senate, Democratic, U.S . Senate, Trump Locations: West Virginia, West, U.S

Brown’s agreement will let students make their case and then have the Brown Corporation, the university’s governing body, vote on the matter in October. But Dr. Paxson’s initial offer did not include bringing a divestment proposal to a vote. That came after two university negotiators and six students involved with the Brown Divest Coalition, one of the groups behind the movement, reached a deal on Tuesday, the university and several students said. The agreement immediately gave the university control of its facilities in time to allow students to finish classes and hold in-person graduation ceremonies and an alumni reunion this month. One donor, an investor who has made sizable contributions to the university and describes himself as a supporter of Israel, said members of the administration had assured him that Brown wouldn’t ultimately divest from Israel.

Persons: William A, Marc Rowan, Christina H, Paxson, Brown, Brown wouldn’t Organizations: Wall Street titans, Democratic Party, Republican, Harvard University, University of Pennsylvania, Brown Corporation, Coalition Locations: Israel, Gaza

☆ His Book Was Repeatedly Banned. Fighting For It Shaped His Life.
▼ + stars: | 2024-05-01 | by ( Brian Raftery | ) www.nytimes.com time to read: +1 min

In the 50 years since it came out, “The Chocolate War” has become one of the country’s most challenged books. But the tensest battle over the novel may have been fought in Panama City, Fla., in the mid-1980s. That’s when an attempt to ban “The Chocolate War” divided the town, leading to arson and death threats against middle-school teachers. The Mowat teachers endured all sorts of harassment because of their stand. It featured the words “YOU ALL SHALL DIE” in letters cut out from magazines, and mentioned several teachers by name — including Alyne Farrell.

Persons: Robert Cormier’s “, Mowat, Pranksters, Alyne Farrell Organizations: Mowat Middle School Locations: Panama City, Fla

☆ Resmed CEO Mick Farrell goes one-on-one with Jim Cramer
▼ + stars: | 2024-04-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Resmed CEO Mick Farrell goes one-on-one with Jim CramerResmed Chairman and CEO Mick Farrell joins 'Mad Money' host Jim Cramer to talk quarterly results, the impact of weight-loss medication, competition in the healthcare space and more.

Persons: Mick Farrell, Jim Cramer

☆ More than half of the US Air Force's B-2 stealth bombers just staged a mass fly-off
▼ + stars: | 2024-04-19 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

B-2 Spirit stealth bombers executed a mass fly-off earlier this week during a major exercise. AdvertisementMore than half of the US Air Force's B-2 Spirit stealth bombers conducted a large-scale exercise earlier this week, staging a massive fly-off. For a long time, it was the only stealth bomber in the world, but the US is making progress on a new stealth bomber, the B-21 Raider, which achieved its first flight in November last year. AdvertisementAs a penetrating strike stealth bomber, the B-21, the US military has said, is expected to "form the backbone of the future Air Force bomber force." A B-2 Spirit stealth bomber assigned to the 509th Bomb Wing takes off at Whiteman Air Force Base, Mo., April 15, 2024.

Persons: —, Hailey Farrell, Northrop Grumman, Matthew S, Domingos Organizations: Whiteman Air Force Base, Service, US Air, 509th Bomb, . Air Force, Vigilance, Air Force, Northrop Locations: Mo, Missouri, Kosovo, Iraq, Afghanistan

☆ Netflix earnings are about to hit the Street. Here’s what traders need to know
▼ + stars: | 2024-04-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

Wall Street anticipates a largely rosy setup for the stock, with many forecasting that the company beats, or reports in line with expectations. The anticipation contributed to some Wall Street firms lifting their price targets heading into the print. Under the paid sharing plan , Netflix account owners can buy an extra member slot and invite people outside their household to use the service. "After 1Q24, Netflix begins to lap the paid sharing benefits - most significantly in 2H24," wrote Morgan Stanley's Swinburne. Reason for caution Despite Netflix's strong run this year and the benefits reaped through paid sharing, some Wall Street analysts see reasons for caution.

Persons: —, Morgan Stanley, Benjamin Swinburne, Doug Anmuth, Morgan Stanley's Swinburne, Piper Sandler, Wall, Anmuth, Goldman Sachs, Eric Sheridan, Bryan Kraft, Kannan Venkateshwar, Deutsche Bank's Kraft, Piper Sandler's Matt Farrell, MoffettNathanson's Michael Nathanson, Street's, Farrell, Citi's Jason Bazinet Organizations: Netflix, LSEG, Deutsche Bank, Barclays, Street, Kraft, Deutsche, WWE, NBA, Netflix's WWE Locations: 2H24

☆ Simon Harris Is About to Become Ireland’s Youngest Leader. Who Is He?
▼ + stars: | 2024-04-09 | by ( Megan Specia | ) www.nytimes.com time to read: +1 min

Simon Harris was three years into a university degree when he dropped out in 2008. On Tuesday, at 37, he is set to become the Republic of Ireland’s youngest ever head of government, the culmination of a swift political rise to a post he has long aspired to. “He’s always been hungry for this role,” said David Farrell, a professor of politics at University College Dublin, noting that although Mr. Harris was young, he was not lacking in political experience. “His career has been short, but it’s been meteoric.”But Mr. Harris will reach the top at a moment when his center-right party, Fine Gael, has stagnated in the polls. And unless he can revive its fortunes, his time as premier may also be short-lived.

Persons: Simon Harris, Harris, HotPress, “ He’s, ”, David Farrell, “, it’s Organizations: University College Dublin, Fine Gael Locations: Irish, County Wicklow, Dublin, Republic of Ireland’s

☆ Famously Obstinate, Bill Ackman Is Now Real-Life Famous. What Next?
▼ + stars: | 2024-03-24 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

In June 2017 — as he was reeling from the end of his marriage of more than two decades and some of the most disastrous investments of his career — Bill Ackman, the billionaire hedge-fund financier, joined Twitter. He offered his early Twitter followers little of the drama that was part of his investing style and would later become a hallmark of his round-the-clock social media posts. Just a few months later, Mr. Ackman went on his first date with a Massachusetts Institute of Technology professor, Neri Oxman. He was instantly smitten, and asked her on that date if she was open to having children, he told the crowd last year at an awards dinner. They married the following year.

Persons: —, Bill Ackman, Ackman, Neri Oxman, Oxman Organizations: Twitter, Massachusetts Institute of Technology

☆ Kate Middleton took time to explain her cancer diagnosis to her kids before announcing it publicly. Here's how to have conversations about cancer with young ones.
▼ + stars: | 2024-03-23 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

Use clear languageWhen telling kids about a parent's cancer diagnosis, medical experts said it's important for adults to be as honest as possible in an age-appropriate way. AdvertisementKids three and younger are too little to understand what a cancer diagnosis means. Lastly, teenagers can comprehend the difficult aspects of a cancer diagnosis and will probably start to internalize their feelings, Villena said. AdvertisementUltimately, medical experts said parents should use their best judgment regarding how much information to share with their kids. Be prepared for questionsQuestions are common as kids try to process a parent's cancer diagnosis, experts said.

Persons: —, Kate Middleton, Princess, Wales, Kate, Prince William, Prince George, Princess Charlotte, Prince Louis, Elizabeth Farrell, Dana, Farrell, Dr, Ari Yares, Yares, Jonathan Villena, Villena, Young, it's, they're, we'll, Getty Organizations: Service, Business, CNN, Dana Farber Cancer Institute, BBC, American Cancer Society Locations: Kensington

☆ A French Castle Filled With a Collector’s Treasures
▼ + stars: | 2024-03-15 | by ( Aimee Farrell | ) www.nytimes.com time to read: +1 min

When the French gallerist Yves Gastou bought the Ermitage de Douce-amie — or refuge of a sweet friend — a follylike crenelated castle on the outskirts of Biarritz in southwest France, in 1990, it had the air of a place frozen in time. Hidden within a forest of bamboo and pine, bay and oak trees, the 5,380-square-foot house was built in 1900 as a retirement home for a member of the imperial court of Napoleon III, or so Gastou believed. The house had changed hands only a few times since: The woman from whom he purchased it was among the last ladies in Biarritz to travel by horse and cart. The hermitage was his summer hideaway, a place for monthslong vacations with family and friends. And if his Paris home was an expression of his appetite for modernity — it epitomized his eclectic tastes, with Cubist midcentury furniture by the French sculptor Philippe Hiquily and acrylic 1980s-era pieces by the Japanese designer Shiro Kuramata — the castle offered a retreat into the past.

Persons: Yves Gastou, Douce, amie —, —, Napoleon III, Gastou, Philippe Hiquily, Shiro Kuramata Locations: Biarritz, France, Carcassonne, Limoux, Paris, French

☆ Venture capitalist Mark Farrell stakes his claim in the San Francisco mayor's race
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVenture capitalist Mark Farrell stakes his claim in the San Francisco mayor's raceVenture capitalist and former San Francisco mayor Mark Farrell talks with CNBC's Kate Rooney on his campaign to fix the city's issues and image, and how business and tech leaders are getting more involved in local politics.

Persons: Mark Farrell, CNBC's Kate Rooney Organizations: Email Venture, Venture, San Locations: San Francisco

But when the 91-year-old got his first virtual reality experience recently, he was stunned. “For the majority of our respondents, it was their first time using virtual reality. The Texas-based company is one of a handful that specializes in virtual reality for seniors. She said that with others who don't talk much perk up when given a VR experience putting them in nature. On a recent afternoon at John Knox, a handful of seniors who live independently took turns again using virtual reality.

Persons: Farrell Patrick, Patrick, John Knox, Terry Colli, ” Anne Selby, ”, Ryan Moore, Chris Brickler, Hana Salem, Salem, ” Brickler, Brickler, Moore, Pete Audet, Audet, “, Karen, Karen Audet, Farrell Organizations: —, Army, John Knox, Navy, VR, John, Stanford University, Canadian Embassy, Washington , D.C, John Knox Village, Google Locations: POMPANO BEACH, Fla, West, Fort Lauderdale , Florida, Florida, Paris, Egypt, Washington ,, Texas

SAN FRANCISCO (AP) — A former interim mayor of San Francisco announced Tuesday he's running for his previous job, joining a competitive field of candidates who say the city has crumbled under the watch of Mayor London Breed, who is up for reelection this year. The lawyer and former city supervisor said he had not planned to return to politics but feels he has the right skills to turn San Francisco around. While she's not on the March 5 ballot, Breed is pushing a pair of public safety proposals that are. Critics say the ballot measures are not in line with San Francisco voters who value privacy over surveillance and encouraging rather than mandating participating in drug treatment programs. Meanwhile, political action committees supporting Breed have raised $1.3 million, including $200,000 from Michael Bloomberg, former New York City mayor.

Persons: —, London Breed, Mark Farrell, Breed, Ed Lee, San, ” Eric Jaye, “, ” Jaye, San Jose . San, Farrell, Ahsha Safaí, Daniel Lurie, Levi Strauss, she's, Lurie, E, Miriam Haas, Haas, Michael Bloomberg, Safaí Organizations: FRANCISCO, San Francisco, London, Associated Press, Democratic, New York City Locations: San Francisco, Francisco's, San Jose ., San Jose . San Francisco, New York

☆ Will Voters in San Francisco Go for a Different Kind of Mayor?
▼ + stars: | 2024-02-13 | by ( Heather Knight | ) www.nytimes.com time to read: +1 min

Famously liberal San Francisco is irritable these days. But what’s not so clear is what kind of mayor they want to fix what’s broken. He’ll test his platform — which he calls common sense and his detractors will surely label too conservative for San Francisco — on the November ballot. Mr. Farrell, the city’s 44th mayor, plans to announce on Tuesday that he wants to be its 46th one too. “I’ve watched San Francisco crumble over the last five years,” Mr. Farrell, 49, said recently over coffee at a downtown cafe.

Persons: San, what’s, Mark Farrell, San Francisco —, Farrell, “ I’ve, ” Mr, we’ve Organizations: Mayor London Breed, San Francisco Locations: San Francisco, Francisco

☆ Inside New York Fashion Week where subtle luxury still reigns supreme
▼ + stars: | 2024-02-12 | by ( Amanda Krause | ) www.businessinsider.com time to read: +4 min

Quiet luxury was everywhere at Badgley Mischka's runway show during New York Fashion Week. A model walks the Badgley Mischka runway during New York Fashion Week. Advertisement"I'm always quiet luxury," she said while pointing to her Cartier glasses, which were a gift from her daughter Jordyn. Elizabeth Woods attends the Badgley Mischka runway show during New York Fashion Week. "I'm from Connecticut, where quiet luxury is the thing, so I just see so much that I'm over it."

Persons: —, Badgley Mischka, Kelly Rutherford, Jonathan Cheban, Adrienne Bailon, Houghton, Rian, Mark Badgley, James Mischka —, it's, Amanda Krause, Daisy Marquez, Elizabeth Woods, Jordyn Woods, doesn't, Cartier, Jordyn, Hailey Bieber's, Thomaï, You've, Gen, Sofia Richie, Jeremy Moeller, Molly Farrell, Savage, Eva Marcille, Marcille Organizations: New York, Service, Starrett, Lehigh, York, NYU's Stern School of Business, Housewives, Atlanta Locations: New, New York City, Rhode, I'm, Connecticut

LOS ANGELES (AP) — The tributes that poured in following Wayne Kramer's death last week came from musicians praising the MC5 guitarist's contributions to rock music, as well as from prison reform advocates who extolled his legacy of bringing music to incarcerated people. “Working with inmates was cathartic for him because music had saved his life when he was inside,” Heath said this week. Kramer eventually delivered testimony before a joint committee on the arts, along with actor Tim Robbins and others. “Wayne just gave this moving speech about how important it was to have music and arts in prisons,” said Bowers, who's now a mentor at the William James Association Prison Arts Project. The state provided $1 million in 2014, and the prison arts budget has since been increased to $8 million, he said.

Persons: Wayne Kramer's, Kramer, Tom Morello, Wayne, ” Kramer, Morello, Slash, Perry Farrell, Jason Heath, ” Heath, Larry Brewster, “, Elida Ledesma, ”, Joseph Jimenez, ” Jimenez, " Jimenez, ” Jack Bowers, Tim Robbins, “ Wayne, Bowers, who's, William James, Heath, they're, they’re, they’ve, He's Organizations: ANGELES, Mojo, University of San, for Healing, Justice Network, Community Arts, Outreach Center, William, William James Association Prison Arts, Outreach Locations: California, Michigan, University of San Francisco, Hollywood, lockups

NEW YORK (AP) — A convicted drug dealer reluctantly testified Monday that Jam Master Jay — known for his anti-drug advocacy as part of the groundbreaking rap group Run-DMC — got involved in cocaine trafficking to pay his bills. Mullgrav said Jam Master Jay, born Jason Mizell, approached him periodically to sell cocaine that the rap star had acquired — “maybe 1 or 2 kilos, here or there.”“Jason wasn't a drug dealer. He just used it to make ends meet,” Mullgrav said. Mizell wanted to put Washington, who's known as “Tinard,” on the ground in Baltimore, said Mullgrav, who grew up with both men. Prosecutors — and some witnesses who were in the studio that night — say that Jordan shot Mizell while Washington brandished a gun and blocked the door.

Persons: —, Jay —, Ralph Mullgrav, Mullgrav, Jay, Jason Mizell, ”, Jason wasn't, ” Mullgrav, Karl Jordan Jr, Ronald Washington, Mizell, “, Washington “, Washington, Gary Farrell, wasn't, Tricky, Jordan Organizations: Prosecutors, Washington, Midwest, MTV Locations: Washington, Jordan, Baltimore, ”

☆ Jamie Lee Curtis celebrates 25 years of being 'clean and sober' after overcoming opiate addiction
▼ + stars: | 2024-02-04 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +3 min

Jamie Lee Curtis celebrated a personal milestone on February 3: 25 years of sobriety. "25 years clean and sober. AdvertisementJamie Lee Curtis has been "clean and sober" for a quarter of a century — and she marked the milestone on social media on Saturday. "25 years clean and sober. AdvertisementJamie Lee Curtis, photographed at the Directors Guild of America Awards in 1989, the year she said her opiate addiction began.

Persons: Jamie Lee Curtis, —, Adam, Joe, I'd, Ron Galella, Curtis, Colin Farrell, Variety's Organizations: Service, Guild, America, Getty

☆ A Pre-I.P.O. Gift to Company Executives: ‘11th-Hour Options Discounting’
▼ + stars: | 2024-01-31 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Public companies must abide by strict rules when granting stock options to their top executives, including pricing them where the company’s shares are trading on the day they are granted and disclosing them swiftly. Private companies planning to go public face some of the same requirements, but have more leeway in pricing their stock options — since there is no publicly traded price — and more time to disclose them. That discrepancy has prompted dozens of private companies to give their top managers low-priced options in the weeks leading up to their initial public offering — when they can often accurately predict where their shares are likely to trade, but before public company regulations about options pricing kick in, according to a new research paper by Sven Riethmueller, a professor at Yale Law School. “They just slide in these equity grants at the last minute,” said Mr. Riethmueller, referring to the options. He called the practice “11th-hour options discounting.”

Persons: Sven Riethmueller, ” Organizations: Yale Law School, “

☆ ResMed CEO Mick Farrell goes one-on-one with Jim Cramer
▼ + stars: | 2024-01-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

ResMed CEO Mick Farrell goes one-on-one with Jim CramerResMed Chairman and CEO Mick Farrell joins 'Mad Money' host Jim Cramer to talk quarterly results, weight loss drugs, growth in its medical device segment and more.

Persons: Mick Farrell, Jim Cramer

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