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☆ A Destructive Trump Indictment
▼ + stars: | 2023-06-10 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Breaking the news on his social media platform, Truth Social, Donald Trump responded to federal charges of violating laws related to his handling of classified documents. Images: Truth Social/Getty Images Composite: Mark KellyWhether you love or hate Donald Trump, his indictment by President Biden’s Justice Department is a fraught moment for American democracy. For the first time in U.S. history, the prosecutorial power of the federal government has been used against a former President who is also running against the sitting President. This is far graver than the previous indictment by a rogue New York prosecutor, and it will roil the 2024 election and U.S. politics for years to come.

Persons: Donald Trump, Mark Kelly Organizations: Biden’s Locations: York

WASHINGTON, June 9 (Reuters) - American Airlines (AAL.O) and JetBlue Airways (JBLU.O) asked a U.S. judge late Friday to allow them to continue mutual frequent flyer recognition and codeshare arrangements. Codeshares allow multiple airlines to sell seats for the same flight. The Justice Department said Sorokin should reject the airlines "invitation to craft a new 'NEA Lite' on the fly." American is the largest U.S. airline by fleet size and low-cost carrier. Separately, the Justice Department filed suit in March aimed at stopping JetBlue from buying discount rival Spirit Airlines (SAVE.N).

Persons: Leo Sorokin, Sorokin, David Shepardson, Diane Craft Organizations: American Airlines, JetBlue Airways, District, Northeast Alliance, NEA, Justice Department, American, JetBlue Boston, U.S, JetBlue, Department, Spirit Airlines, Thomson Locations: New York, Boston, Washington, York, JFK, LaGuardia, Newark

☆ Justice Department will likely try to have Trump incarcerated if he's convicted in Mar-a-Lago case, national security lawyer says
▼ + stars: | 2023-06-10 | by ( Insider Staff | Sarah Gray | ) www.businessinsider.com time to read: +4 min

DOJ will seek incarceration for Trump, a national security attorney and former US prosecutor say. McClanahan said evidence in the indictment was laid out to show "that this is a kingpin who knowingly broke the law, endangered national security, endangered nuclear weapon security, endangered other countries' national security." In this case, that looks likely to be US District Judge Aileen Cannon, who Trump appointed. It's more likely that, if convicted, he'd be sentenced to house arrest with an ankle monitor, McClanahan said. "Trump can share that information that is in his head whether he is incarcerated or not incarcerated," she said.

Persons: —, Donald Trump, Kel McClanahan, Jack Smith's, McClanahan, Jonathan Turley, Chris Christie, Trump, Sarah Krissoff, Pitney, Krissoff, Aileen Cannon, there's, It's, he'd Organizations: Trump, Service, Department, Justice, George Washington University, Fox News, New, New Jersey Gov, Politico, Pitney LLP, of, DOJ, Department of Justice Locations: New Jersey, Southern, of New York, Bedminster , New Jersey

NEW YORK, June 9 (Reuters) - Bankrupt crypto exchange FTX received court permission on Friday to remove customer names from all filings in its bankruptcy case, persuading a U.S. judge that publishing the names would put people at risk of scams and identity theft. U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled that FTX can permanently redact the names of individual customers from its bankruptcy filings, after hearing testimony that publishing customers' names would place them at risk even if other identifying information like their email address was kept secret. In January, Dorsey had allowed FTX to keep secret the names of 9 million of its individual customers for three months. On Friday, Dorsey also authorized FTX to remove the names of companies and institutional investors from its customer lists on a temporary basis, saying FTX will have to make a new request in 90 days. FTX founder Sam Bankman-Fried and several company insiders have been indicted on fraud charges for their role in the company's collapse.

Persons: FTX, John Dorsey, Dorsey, liquidators, Sam Bankman, Dietrich Knauth, Alexia Garamfalvi, Rosalba O'Brien Organizations: YORK, FTX's, Bahamian, FTX, Thomson Locations: U.S, Wilmington , Delaware, Bahamas, Delaware

The benchmark S&P 500 (.SPX) built on Thursday's 20% rise from its Oct. 12 finishing low, heralding the start of a new bull market as defined by some market participants. The S&P 500 (.SPX) gained 4.93 points, or 0.11%, at 4,298.86, taking this week's advance to 0.38% and extending its winning streak to four weeks, the longest since the July-August 2022 period. The Dow Jones Industrial Average (.DJI) rose 43.17 points, or 0.13%, to 33,876.78, for a weekly gain of 0.33%. Declining issues outnumbered advancing ones on the NYSE by a 1.49-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored decliners. The S&P 500 posted 15 new 52-week highs and five new lows; the Nasdaq Composite recorded 84 new highs and 53 new lows.

Persons: Dow Jones, Tim Holland, Brendan McDermid, Rick Meckler, Wells, Sruthi Shankar, Shristi, Vinay Dwivedi, Richard Chang Organizations: Adobe, Citi, Nasdaq, Tesla Inc, General Motors Co, GM, Orion, Dow Jones, Apple Inc, Devices, Nvidia Corp, NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Cherry Lane Investments, Target Corp, Adobe Inc, Netflix Inc, Thomson Locations: Wells Fargo, New York City, U.S, Bengaluru

Trump mishandled classified documents that included information about the secretive U.S. nuclear program and potential domestic vulnerabilities in the event of an attack, the federal indictment said. Unauthorized disclosure of classified documents posed a risk to U.S. national security, foreign relations, and intelligence gathering, prosecutors said. Former U.S. President and Republican presidential candidate Donald Trump attends a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. The indictment also alleges Trump conspired with Nauta to keep classified documents Trump had taken from the White House and hide them from a federal grand jury. The case does not prevent Trump from campaigning or taking office if he were to win the November 2024 presidential election.

Persons: Donald Trump, Trump, John Rowley, Jim, Walt Nauta, Jack Smith, Smith, General Merrick Garland, Trump’s, Matt Bennett, Joe Biden, Biden, Brian Snyder, Lago, Nauta, Aileen Cannon, Cannon, Sarah N, Lynch, Jonathan Stempel, Jack Queen, Jacqueline Thomsen, Karen Freifeld, Nathan Layne, Heather Timmons, Nandita Bose, Andy Sullivan, Noeleen Walder, Howard Goller Organizations: U.S, White House, The Justice Department, Trump, Republican, Reuters, Democratic, Former U.S, REUTERS, White, Mar, Pentagon, CIA, National Security Agency, Department of Energy, Prosecutors, Defense Department, FBI, TRUMP, AS, Democrat, Biden, Thomson Locations: Lago, Florida, Miami, United States, U.S, Former, Manchester , New Hampshire, New Jersey, Mar, New York, Georgia

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

☆ The GOP Gets to Vote Harvesting
▼ + stars: | 2023-06-09 | by ( Kimberley A. Strassel | ) www.wsj.com time to read: +1 min

Kimberley Strassel is a member of the editorial board for The Wall Street Journal. She writes editorials, as well as the weekly Potomac Watch political column, from her base in Alaska. Ms. Strassel joined Dow Jones & Co. in 1994, working in the news department of The Wall Street Journal Europe in Brussels, and then in London. She moved to New York in 1999 and soon thereafter joined the Journal's editorial page, working as a features editor, and then as an editorial writer. An Oregon native, Ms. Strassel earned a bachelor's degree in Public Policy and International Affairs from Princeton University.

Persons: Kimberley Strassel, Strassel Organizations: Wall Street, Potomac Watch, Dow Jones & Co, The, Street, Fox, Sunday, Press, Policy, International Affairs, Princeton University Locations: Kimberley, Alaska, Brussels, London, New York, An Oregon

☆ Don’t Count a Third Party Out in 2024
▼ + stars: | 2023-06-09 | by ( Peggy Noonan | ) www.wsj.com time to read: +1 min

Peggy Noonan is an opinion columnist at the Wall Street Journal where her column, "Declarations," has run since 2000. She has been a fellow at Harvard University’s Institute of Politics, and has taught in the history department at Yale University. Before entering the Reagan White House, Noonan was a producer and writer at CBS News in New York, and an adjunct professor of Journalism at New York University. She was born in Brooklyn, New York and grew up there, in Massapequa Park, Long Island, and in Rutherford, New Jersey. In November, 2016 she was named one of the city's Literary Lions by the New York Public Library.

Persons: Peggy Noonan, ”, ” Noonan, Ronald Reagan, Noonan Organizations: Wall, Journal, NBC News, The, Harvard University’s Institute of Politics, Yale University, Reagan White House, CBS News, Journalism, New York University, Fairleigh Dickinson University, Lions, New York Public Library Locations: New York, Brooklyn , New York, Massapequa Park, Long, Rutherford , New Jersey, Rutherford, New York City

☆ US judge rejects 3M effort to resolve earplug lawsuits in bankruptcy
▼ + stars: | 2023-06-09 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

NEW YORK (Reuters) -A U.S. judge on Friday dismissed the bankruptcy of 3M subsidiary Aearo Technologies, rejecting an effort to resolve nearly 260,000 lawsuits alleging that 3M military earplugs caused hearing loss for veterans and U.S. service members. 3M and Aearo had argued that the earplug litigation had spiraled out of control and could be resolved only in bankruptcy. Graham acknowledged that the earplug litigation was “staggering,” representing 30% of all cases currently pending in the federal district courts. Those appeals could “fundamentally change the trajectory” of the earplug lawsuits, 3M said. 3M’s bankruptcy strategy mirrors a similar effort by Johnson & Johnson, which has attempted to resolve lawsuits through the bankruptcy of a newly created subsidiary, LTL Management.

Persons: Brendan McDermid, Jeffrey Graham, Aearo, Graham, Bryan Aylstock, Chris Seeger, ” “, ” Aylstock, Seeger, Johnson, J, LTL Organizations: YORK, Aearo Technologies, New York Stock Exchange, REUTERS, 3M, Aearo, U.S, Circuit, Johnson, LTL Management Locations: U.S, New York City, Indianapolis, Pensacola , Florida, Florida

☆ New York Emerges From the Haze as Canadian Wildfire Smoke Moves South
▼ + stars: | 2023-06-09 | by ( Gareth Vipers | Alyssa Lukpat | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/smoke-from-canada-wildfires-to-move-south-ease-in-northeast-d989976f

Persons: Dow Jones Locations: canada

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chinese-built-armored-trucks-make-appearance-in-chechnya-33af6e4a

Persons: Dow Jones Locations: chechnya

Trump's prior indictment in New York on charges alleging falsification of business documents didn't move the political needle much. But there is recent polling that explains what Americans think about the prospect of Trump being charged with crimes, including some specifically about an indictment related to his handling of classified documents. Meanwhile, 63% of Americans, called "taking highly classified documents from the White House and obstructing efforts to retrieve them" a serious crime. Ahead of Trump's indictment in Manhattan, Quinnipiac University asked Americans whether they thought criminal charges, not an indictment, should disqualify Trump from running. A slim majority of all voters, 52%, said that in his New York indictment, Trump has been treated like anyone else accused of those same crimes and hasn't been unfairly targeted.

Persons: Donald Trump, —, Trump's, Trump, it's, Joe Biden, hasn't, Jan Organizations: —, White House, Republicans, Trump, White, Yahoo, Quinnipiac University, NBC, Republican, GOP, DeSantis, Associated Press, NORC Center for Public Affairs Research Locations: New York, Manhattan, York, Florida

☆ Some delivery workers biked 50 miles in the thick of the NYC wildfire smog: 'It's an ominous feeling'
▼ + stars: | 2023-06-09 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Wood bikes an average of 40 to 50 miles a day shepherding food and other products to people's doorsteps. The next day, he woke up and did another full day of work outside, despite the city's record-setting poor air quality and a noticeable toll on his lungs. You have to be willing to work in the weather conditions that nobody else wants to work in," Wood says. Delivery workers are among the many kinds of jobs that require outdoor labor. Construction workers, landscapers and highway maintenance laborers, for example, have to spend the majority of their day outside, according to the Bureau of Labor Statistics.

Persons: Josh Wood, Uber, Wood, doorsteps, It's, Ligia Guallpa Organizations: Empire, CNBC, Unidos, Workers ' Justice, Deliveristas Unidos, Bureau of Labor Statistics Locations: Canada, New York City, midtown Manhattan, York City, New York, landscapers

☆ Trump documents case: Can he still run for president after indictment?
▼ + stars: | 2023-06-09 | by ( Jack Queen | ) www.reuters.com time to read: +3 min

June 9 (Reuters) - Former President Donald Trump has been indicted for illegally retaining classified government documents after leaving office in 2021. WILL THE INDICTMENT PREVENT TRUMP FROM CAMPAIGNING OR TAKING OFFICE? WHAT HAPPENS IF TRUMP TAKES OFFICE WHILE THE CASE IS PENDING? The U.S. Justice Department has a decades-old policy that a sitting president cannot be prosecuted. COULD TRUMP PARDON HIMSELF?

Persons: Donald Trump, Trump, Joe Biden, Merrick Garland, TRUMP, “, ” Trump, Jack Queen, Noeleen Walder, Howard Goller Organizations: TRUMP, Trump, Republican, IF TRUMP, U.S . Department of Justice, U.S . Justice Department, Democratic, Thomson Locations: U.S, New York, United States, Georgia

☆ A New York supermarket billionaire said he wants to buy CNN and that he just wants $1 per year for it
▼ + stars: | 2023-06-09 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

New York supermarket billionaire John Catsimatidis said he wants to buy CNN, per the New York Post. "I'd go run the place tomorrow morning, and all I'd want is $1 per year and a piece of the upside," he said. Catsimatidis — an outspoken Trump supporter — has a net worth of $4.1 billion, per Forbes. Just two days after embattled CNN CEO Chris Licht stepped down from his role in the aftermath of a brutal profile of his leadership, a New York supermarket billionaire said he wants to buy CNN from its parent Warner Bros. That is the craziest thing in the world," Catsimatidis — an outspoken Trump supporter — told 77 WABC.

Persons: John Catsimatidis, Catsimatidis, Trump, —, Chris Licht, Sid Rosenberg, Catsimatidis —, Forbes —, Donald Trump's, Donald Trump Organizations: CNN, New York, Forbes, Morning, Warner Bros ., WABC, Wall Street Journal, Warner Bros Locations: York, New York, New York City

The legislation, modeled off of California's Low Carbon Fuel Standard, aims to reduce carbon intensity from the on-road transportation sector in New York by 20% by 2031. If passed, it would be the second-largest clean fuel standard in the United States, surpassed only by California's. The New York Senate passed the Clean Fuel Standard on Thursday, the first time it had done so despite similar legislation being produced in prior sessions. California's Low Carbon Fuel Standard led to a boom in investments in fuels made from non-petroleum feedstocks. Canada has also implemented a Clean Fuel Standard which is set to take effect later this year.

Persons: Deborah Glick, Laura Sanicola, Nick Zieminski Organizations: U.S ., New York Senate, decarbonizing, Thomson Locations: New York, U.S . East Coast, United States, York, West Coast, Washington and Oregon, Canada

In his deposition, Dimon said he had barely heard of Epstein before the financier's arrest. JPMorgan is also being sued over Epstein by the U.S. Virgin Islands, where the financier allegedly also abused victims on a private island he owned. The bank is suing Staley to cover losses it may face in both lawsuits. Staley, who was Barclays' (BARC.L) CEO from 2015 to 2021, is expected to sit for a deposition on Saturday. The case is Jane Doe 1 v JPMorgan Chase & Co, U.S. District Court, Southern District of New York, No.

Persons: Jeffrey Epstein, Jamie Dimon, Jed Rakoff, Dimon's, Epstein's, Epstein, Jes Staley, Mary Erdoes, Mary Casey, Darin Oduyoye, Oduyoye, Dimon, Staley, Jane Doe, Tatiana Bautzer, Jonathan Stempel, Richard Chang Organizations: YORK, JPMorgan Chase, JPMorgan, Plaintiffs, U.S ., Barclays, JPMorgan Chase & Co, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, Southern District, Southern District of New York, New York

NEW YORK, June 9 (Reuters) - Stephanie Cohen, the head of Goldman Sachs Group Inc's (GS.N) fintech unit called Platform Solutions, is taking a leave of absence for family reasons, she said in a memo to staff seen by Reuters. "The past year has brought some challenges for my family," Cohen said in the memo. Philip Berlinski, the bank's treasurer, and Ericka Leslie, its chief administrative officer, will handle Cohen's responsibilities in her absence. Cohen is the only woman executive to lead one of Goldman's three main business units. Cohen joined Goldman Sachs as an analyst in 1999, was named managing director in 2008 and partner in 2014.

Persons: Stephanie Cohen, Cohen, Philip Berlinski, Ericka Leslie, Goldman Sachs, Goldman, John Waldron, Lananh Nguyen, Saeed Azhar, Nick Zieminski Organizations: YORK, Goldman Sachs, Reuters, Thomson Locations: New York

Rey Steve Mabiala and his wife, Liz Gouari, taking refuge at the Roberval emergency center after being ordered to evacuate Chibougamau, Quebec, as a fire approached. Of the more than 400 fires now burning in Canada, more than one-third are in Quebec, which has already registered its worst wildfire season on record. Credit... Carlos Osorio/Reuters“We are facing some unprecedented events, including droughts, accelerated fires and heat waves, and there will be more over time, especially forest fires,” Ms. Mohsin said. But perhaps most surprised were newcomers to Chibougamau, like Mr. Mabiala, from the Republic of Congo, who came to work in logging. “They were asking, “Oh, is there such a thing in Canada?’ ’’ Ms. Cabrera said.

Persons: Rey Steve Mabiala, Liz Gouari, Gouari, Mabiala, Prince Edward Island, ” Mr, “ It’s, ”, Josée Poitras, Tanzina Mohsin, Carlos Osorio, Ms, Mohsin, Poitras, “ I’ve, I’ve, Francis Côté, “, Chibougamau, Renaud Philippe, Côté, Guy Boisvert, Winters, Boisvert, Shirley, Jonathan Mattson, Mr, Mattson, Ruth Cabrera, Anna Huerte, —, Cabrera, Huerte Organizations: Wildfire, University of Toronto, ., Reuters, The New York Times, “, Credit Locations: Chibougamau, Quebec, Africa, Canada, North America, Republic of Congo, Prince, Nunavut, Fort Nelson, British Columbia, Toronto, Val, Montreal, Roberval, East Coast, United States, Philippines

☆ Trump was DJ-ing on the patio at Bedminster and playing Elvis, Pavarotti, and James Brown tracks from an iPad after he found out about his second indictment
▼ + stars: | 2023-06-09 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Hours after he was indicted, Donald Trump was seen jamming to Elvis, Pavarotti and James Brown. The ex-president was seen DJ-ing at Bedminster after getting indicted, sources told The New York Times. However, he was rage-posting on Truth Social almost simultaneously. Sources close to Trump told The New York Times on Thursday evening that just 90 minutes after he received the call, he was playing tracks by Elvis, opera singer Pavarotti, and James Brown, on his iPad. He then posted a video on Truth Social shortly after, reiterating his stance that he is an innocent man and that "THE BIDEN ADMINISTRATION IS TOTALLY CORRUPT."

Persons: Donald Trump, Elvis, Pavarotti, James Brown, —, he'd, Trump, He's, — Trump, James Brown's, he's, Celine Dion, Jim, CNN's Kaitlin Collins Organizations: Bedminster, New York Times, Service, The New York Times, BIDEN, Trump, Mar, DOJ Locations: Bedminster , New Jersey, United States, Mar

Once he was sworn in as president, Mr. Trump reimbursed Mr. Cohen. Rather than publish her account, the tabloid suppressed it in cooperation with Mr. Trump and Mr. Cohen, prosecutors say. Legal experts say that Mr. Trump and others appear to be at “substantial risk” of prosecution for violating a number Georgia statutes, including the state’s racketeering law. But if she were to prevail at trial, a judge could impose steep financial penalties on Mr. Trump and restrict his business operations in New York. Ms. James’s investigators questioned Mr. Trump under oath in April, and a trial is scheduled for October.

Persons: Donald J, Trump, Trump’s, Jack Smith, Alvin L, Bragg, Stormy Daniels, Michael D, Cohen, Daniels, Karen McDougal, McDougal, Brad Raffensperger, Biden’s, —, Emily Kohrs, “ You’re, ”, “, Willis, Jan, Mr . Biden, Smith, Mike Pence, Mark Meadows, Letitia James, Mr, James, Donald Jr, Eric, Jonah E, Rebecca Davis O’Brien, Michael Gold, Michael Rothfeld, Ed Shanahan, Richard Fausset, Ashley Wong Organizations: Capitol, Manhattan, National Enquirer, Mr, ., The New York Times, Justice Department, Trump, Prosecutors, White House, Trump White House, New York, Civil, New Locations: Manhattan, Georgia, . Georgia, Fulton County, United States, Washington, Trump’s, New, New York, Bromwich

☆ Donald Trump’s criminal cases, explained
▼ + stars: | 2023-06-09 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +14 min

Trump was indicted back in March by the Manhattan district attorney on state charges related to hush-money payments to a former adult-film star in 2016. Smith is also overseeing other investigations related to Trump, including those regarding the January 6, 2021, insurrection and the 2020 election. That federal law deals with the illegal retention of “national defense information,” a broad term that encompasses classified documents and other sensitive government materials. Federal charges related to classified documents likely do not either. But people do routinely serve prison time for retention of classified documents, conspiracy and obstruction.

Persons: Donald Trump’s, He’s, Jack Smith, Trump’s, Trump, Aaron Burr, Wasn’t, isn’t Trump, Smith, Joe Biden’s, Jim Trusty, ”, Elie Honig, CNN’s Marshall Cohen, CNN’s Evan Perez, Joe Biden, Honig, “, Robert Ray, Ray, it’s, David Axelrod, ‘ They’re, ’, Richard Hasen, don’t, Jean Carroll, We’re, hasn’t, Hasen, Richard Nixon, Gerald Ford, Nixon’s, Spiro Agnew, Agnew, Burr, We’ve, Let’s Organizations: CNN, US Department of Justice, Trump, White, National Archives, Prosecutors, Lago, USC, FBI, DOJ, That’s, Manhattan, Justice Department, Republican, Democratic, University of California, Senate, State, Quinnipiac University, Service Locations: Lago, Miami, Manhattan, Florida, Trump . Miami, Washington, New York, Dade County, Los Angeles, United States, New York City, Fulton County , Georgia, York

☆ Why do businesses keep raising their prices?
▼ + stars: | 2023-06-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

Los Angeles CNN —After two years of surging prices, economists still can’t agree on what has caused the world’s worst inflation crisis in decades. The survey of 700 businesses across New York, Atlanta and Cleveland found that strength of customer demand outranked all other factors that companies weigh when setting prices, including steady profit margins and overall inflation. More than 82% of businesses surveyed said demand factored into their pricing decisions, while only 52% of businesses said they take the overall rate of inflation into account when setting prices. Are customers too willing to pay higher prices? Murphy said the restaurant has since raised prices more than once to keep up with inflation.

Persons: “, John Zheng, ”, Zheng, Mr, Mac’s, Mark Murphy, Murphy, ” Murphy, Emily Netti, “ I’ve Organizations: Los Angeles CNN —, New York Federal Reserve, Wharton School, University of Pennsylvania, CNN, Colgate, Procter, Gamble, PepsiCo, Federal Reserve, New York Fed Locations: Ukraine, New, New York, Atlanta, Cleveland, Manchester , New Hampshire, Syracuse , New York, Syracuse

☆ Belmont Stakes in jeopardy as wildfire smoke shrouds US cities
▼ + stars: | 2023-06-09 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —This year’s Belmont Stakes is under threat as wildfire smoke originating from Canada continues to spread across the US. The New York Racing Association (NYRA) postponed Thursday’s schedule at Belmont Park and said racing would only be authorised if conditions improved. Parts of the East Coast are expected to continue to suffer poor air quality until at least the weekend. How to watchThe Belmont Stakes will take place on Saturday at Belmont Park in Elmont, New York. The win made Baffert the winningest trainer in Preakness Stakes history, having now had eight horses win the race.

Persons: ”, David O’Rourke, “ NYRA, Brad Penner, Kathy Hochul, ” Hochul, Tapit Trice, Forte, Angel of, Bob Baffert’s Organizations: CNN, New York Racing Association, Belmont, Animals, PETA, Reuters Horse, Triple Crown, Kentucky Derby, Preakness, Fox, NBC, Kentucky Horse Racing Commission Locations: Canada, Elmont , New York, East, New York, Belmont

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