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☆ A Cicada’s Guide to Periodical Romance
▼ + stars: | 2024-05-08 | by ( Alan Burdick | ) www.nytimes.com time to read: 1 min

But to the individual cicada, what’s underway is a courtship ritual as intimate and intricate as a tango. The stakes are high; the potential missteps are many. Review the guest listThis year, in a rare “dual emergence,” two groups of periodical cicadas are in attendance: Brood XIII, or the Northern Illinois Brood, comprising as many as three species of 17-year cicada in some locations, and Brood XIX, the Great Southern Brood, comprising up to four species of 13-year cicada. Their songs — like those of Magicicada septendecim and Magicicada neotredecim, below — can sound deceptively similar:

Persons: Magicicada Organizations: Northern Illinois Brood, Southern

The company argues that the law violates the First Amendment by effectively killing an app in the U.S. that millions of Americans use to share their views. Another problem: a divestiture within 270 days is practically impossible, Sapna Maheshwari and David McCabe report for The Times. DealBook spoke with Maheshwari about the lawsuit filed yesterday and what happens next. Do legal experts think TikTok has a chance at winning? Alan Rozenshtein, an associate professor at the University of Minnesota Law School, says that a victory is possible based on the “very, very substantial First Amendment challenge” involved.

Persons: TikTok, Sapna Maheshwari, David McCabe, DealBook, Maheshwari, Alan Rozenshtein, ” Organizations: U.S, The Times, University of Minnesota Law School Locations: Washington, ByteDance, U.S

☆ Wall Street bonuses to rise this year as deals return, says report
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Bonuses are poised to recover on Wall Street this year, fueled by strong equity market gains and recovery in investment banking, according to financial services compensation firm Johnson Associates. As initial public offerings come back, bonuses for equity underwriters are expected to rise 10% to 20% this year. "We are seeing almost all segments on Wall Street raising compensation", said the firm's founder Alan Johnson. Higher trading volumes are expected to increase bonuses for bond traders between 10% and 20%, and 5% to 15% higher for equity traders. Executives working at wealth management will probably have 5% to 10% higher compensation, whereas asset management and hedge fund employees are expected to receive 5% higher bonuses.

Persons: Johnson, Alan Johnson Organizations: Johnson Associates, Investment Locations: U.S

☆ Judge Postpones Start of Trump Documents Trial Without New Date
▼ + stars: | 2024-05-07 | by ( Alan Feuer | ) www.nytimes.com time to read: +1 min

The federal judge overseeing former President Donald J. Trump’s classified documents case formally scrapped her own May 20 start date for the trial on Tuesday but declined to set a new one, saying there was much more work to be done before a jury could hear the charges. The decision by Judge Aileen M. Cannon to delay the start of the trial was more or less a foregone conclusion given the number of legal issues that remain unresolved less than two weeks from the date she had originally set. In a brief order, Judge Cannon wrote that picking a new date at this point would be “imprudent and inconsistent with the court’s duty to fully and fairly consider” what she described as “the myriad and interconnected” pretrial issues that she had not yet gotten to. Those included several of Mr. Trump’s pending motions to dismiss the case and a host of thorny questions surrounding how to decide what sorts of sensitive information can be revealed at the trial under a law known as the Classified Information Procedures Act.

Persons: Donald J, Trump’s, Aileen M, Cannon, Judge Cannon

☆ Stormy Daniels and Trump Have Met in Court Before, to Her Detriment
▼ + stars: | 2024-05-07 | by ( Alan Feuer | ) www.nytimes.com time to read: 1 min

Stormy Daniels’s testimony on Tuesday against Donald J. Trump at his criminal trial in Manhattan was not the first time that the porn star and the former president have clashed in court. Six years ago, Ms. Daniels — then known by her off-camera name, Stephanie Clifford — filed a defamation lawsuit against Mr. Trump that ultimately failed, leading to damaging consequences for both her and her lawyer. The lawsuit, first filed in Manhattan federal court in April 2018 and then transferred to California, accused Mr. Trump of posting a social media message that called into question Ms. Daniels’s credibility. It came in response to one of her own posts, in which she included a sketch of a man who, she said, had threatened her in a Las Vegas parking lot in 2011, telling her to keep silent when she was first considering revealing her account of having had sex with Mr. Trump.

Persons: Donald J, Trump, Daniels —, Stephanie Clifford —, Mr Organizations: Mr Locations: Manhattan, California, Las Vegas

☆ Judge Pushes Back Critical Filing Deadline in Trump Documents Case
▼ + stars: | 2024-05-06 | by ( Alan Feuer | ) www.nytimes.com time to read: +1 min

Reversing one of her own decisions, the federal judge overseeing former President Donald J. Trump’s classified documents case granted his request on Monday to postpone the deadline for a crucial court filing in the criminal proceeding, increasing the chance that any trial would be pushed past the November election. The ruling by the judge, Aileen M. Cannon, was made in a bare-bones order that contained no factual or legal reasoning. It did not schedule a new deadline but erased the one she had set almost a month ago ordering Mr. Trump’s lawyers to file by Thursday a detailed list of the classified materials that they intend to introduce at the trial, which is set to take place at some point in Federal District Court in Fort Pierce, Fla.That list is enormously consequential because, when filed, it will mark the first step in what will ultimately be a pitched battle between the defense and prosecution over what sorts of classified materials the jury will get to hear about at trial — a contested process, balancing issues of public access and national security, that could take months to complete. Mr. Trump has relentlessly pursued a strategy of delaying all four of the criminal cases he is facing, and if he succeeds in delaying his trial on charges of mishandling classified documents until after the election, he could order his Justice Department to drop the matter altogether if he wins.

Persons: Donald J, Trump’s, Aileen M, Cannon, Trump Organizations: Court, Department Locations: Fort Pierce, Fla

☆ Condé Nast has reached a deal with its union, and some call it bittersweet
▼ + stars: | 2024-05-06 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewThe labor union representing Condé Nast employees reached a tentative agreement with the company, hours before the union was set to strike ahead of one of fashion's biggest events of the year, the Anna Wintour-cohosted Met Gala. AdvertisementThe win is bittersweet for some union members. Union members who spoke with Business Insider expressed relief and elation over the contract achievement and resulting employment benefits at Condé Nast, historically known for its low starting pay. Related stories"There's just not going to be any more, 'You're going to make 30 grand a year and work your fingers to the bone,'" said one Condé Nast staffer. "I'm definitely thinking about layoffs," a second Condé Nast staffer said.

Persons: —, Condé, Anna Wintour, cohosted, repped Condé, Roger Lynch, There's, Condé Nast, couldn't, Nast, Mark Alan Burger, we're Organizations: Service, Condé Nast, Business, Union, Vogue, GQ, New York, Metropolitan Museum of Art Locations: New York, New York City, Bon, Union

The judge overseeing Donald J. Trump’s criminal trial in Manhattan rebuked the former president on Monday for mounting “a direct attack on the rule of law,” holding him in contempt of court for a second time and threatening to jail him if he continued to break a gag order that bars him from attacking jurors. In a moment of remarkable courtroom drama, the judge, Juan M. Merchan, addressed Mr. Trump personally from the bench, saying that if there were further violations, he might bypass financial penalties and place the former president behind bars. Justice Merchan acknowledged that jailing Mr. Trump was “the last thing” he wanted to do, but explained that it was his responsibility to “protect the dignity of the justice system.”The judge said that he understood “the magnitude of such a decision” and that jailing Mr. Trump would be a last resort. He noted: “You are the former president of the United States, and possibly the next president as well.”

Persons: Donald J, ”, Juan M, Merchan, Trump, Justice Merchan Locations: Manhattan, United States

☆ U.S. Labor Market Strength Steadies Social Security and Medicare Funds
▼ + stars: | 2024-05-06 | by ( Alan Rappeport | Margot Sanger-Katz | ) www.nytimes.com time to read: +1 min

The financial health of Social Security and Medicare, two of the nation’s most crucial safety net programs, has improved this year as a stronger-than-expected U.S. economy attracted more workers to the labor market, buttressing funding for the critical programs. Annual reports released on Monday by trustees of the old age and retirement programs showed that while both still face long-term shortfalls that could ultimately result in reduced retirement and medical benefits, lawmakers will have slightly more time before they begin to fray. About 70 million people receive Social Security benefits, and more than 66 million participate in Medicare. The fate of the popular programs continues to be a contentious political issue, one that is expected to intensify as the November presidential election draws near. President Biden has pledged to block any cuts to Social Security and Medicare and has called for shoring up the programs with higher taxes on the rich.

Persons: Biden, Donald J, Trump Organizations: Social Security, Republican, Biden

☆ Building collapse in South Africa leaves three dead, dozens trapped
▼ + stars: | 2024-05-06 | by ( ) edition.cnn.com time to read: +1 min

CNN —Rescue efforts were underway after three people were killed and dozens remained trapped after a multi-storey building under construction collapsed in the South African city of George, authorities said. Fifty-one people remained trapped, according to a statement from the municipality of George. CCTV footage obtained by Reuters showed a cloud of dust as the building crumbled on Monday afternoon. “I saw one guy was working and then ‘boom’ and I saw the whole building collapsed… I’m also traumatised. “This is going to be a really lengthy exercise and probably going to go right through the night,” he said.

Persons: George . “, Alan Winde, “, I’m, Theresa Jeyi, George Mayor Leon van Wyk, ” Organizations: CNN, Reuters, SABC Locations: African, George, Cape Town

After the judge rebuked Mr. Trump for violating a gag order and mounting “a direct attack on the rule of law,” the prosecutors provided jurors with their first look at the 34 records they say he falsified to cover up an infamous payment. Mr. Trump made the payment to his longtime fixer, Michael D. Cohen, reimbursing him for a $130,000 hush-money payoff to a porn star, Stormy Daniels, prosecutors say. Before Mr. Trump repaid Mr. Cohen, prosecutors say, he orchestrated a scheme to falsify the records. Mr. Trump, the first American president to face prosecution, is on trial for 34 felony counts of falsifying business records, one for each document: 11 checks to Mr. Cohen, 11 invoices from Mr. Cohen and 12 entries in Mr. Trump’s general ledger. The invoices and ledger entries claimed that Mr. Cohen had been repaid for “legal expenses” that arose from a “retainer agreement.”

Persons: Donald J, Trump, Mr, Michael D, Cohen, reimbursing, Stormy Daniels, ”

☆ Australia’s Qantas to pay $79 million to settle ‘ghost flights’ case
▼ + stars: | 2024-05-06 | by ( ) edition.cnn.com time to read: +2 min

Sydney — Qantas Airways has agreed to pay 120 million Australian dollars ($79 million) to settle a lawsuit over the sale of thousands of tickets on already canceled flights, in an attempt to end a reputational crisis that has engulfed the airline. The fine is the biggest ever for an Australian airline and among the largest globally in the sector, although some Australian banks and casino operators have faced higher penalties. “We recognize Qantas let down customers and fell short of our own standards,” CEO Vanessa Hudson said in a statement. It had said the airline sometimes sold tickets to flights weeks after they were canceled. The ACCC’s Cass-Gottlieb noted that the settlement included a promise from Qantas not to repeat the conduct.

Persons: Vanessa Hudson, ”, Hudson’s, Alan Joyce, Hudson, Gina Cass, Gottlieb, ACCC’s Cass Organizations: Sydney, Qantas Airways, Qantas, Australian Competition, Consumer Commission, Federal Court, ACCC Locations: Hudson

☆ One of Mt. Everest's deadliest passages is growing even more treacherous
▼ + stars: | 2024-05-04 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +6 min

A 1.6-mile stretch of slowly cascading ice just above Base Camp called the Khumbu Icefall. The Khumbu Icefall looks like a frozen waterfall. They're called the Icefall Doctors, and this year, they delayed Everest's climbing season by 12 days due to unsafe conditions on the Khumbu Icefall. Between 1953 and 2019, 45 people lost their lives on the Khumbu Icefall. Everset's history, 15 of the 18 total deaths were caused by acute mountain sickness, falls, and disappearances.

Persons: They're, Paul Mayewski, Mount, climatologist, Olaf Rieck, Alan Arnette, Mayewski, Jason Maehl, there's, Arnette Organizations: Service, Business, Mount Everest, University of Maine, Wikimedia, Everest, AMS Locations: Everest, Everest's, Mt

☆ Political Furor Over U.S. Steel Bid Puts Investment Panel in Spotlight
▼ + stars: | 2024-05-03 | by ( Alan Rappeport | ) www.nytimes.com time to read: 1 min

At a campaign event last month in Pennsylvania, the heartland of American steel manufacturing, President Biden made clear that he does not want the proposed takeover of U.S. Steel by Japan’s Nippon Steel to happen. “We’re finally making sure that United States Steel stays United States Steel,” Mr. Biden said. “It’s not going to be anybody else’s steel.”How that promise will be kept has yet to be determined. U.S. Steel said this week in its first-quarter earnings release that it expected the acquisition to be completed in the second half of this year, but noted that timing depended on getting regulatory approvals. On Friday, Nippon Steel said that it was delaying its timeline for the deal to close, from the middle of the year to the end of 2024, because it had been asked to provide more information about the transaction to the Department of Justice, which is reviewing the deal.

Persons: Biden, “ We’re, Mr, “ It’s Organizations: U.S, Steel, Japan’s Nippon Steel, United States Steel, . Steel, Nippon Steel, Department of Justice Locations: Pennsylvania

☆ Alan Patricof talks investing in longevity and the impact of an aging population
▼ + stars: | 2024-05-02 | 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 EmailAlan Patricof talks investing in longevity and the impact of an aging populationHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Alan Patricof, Brian Sullivan, “ Organizations: CNBC

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

Rumors that the Hollywood star Lindsay Lohan was in rehab. A lawsuit by Hulk Hogan, the former pro wrestler, against the gossip website Gawker for publishing a tape of him having sex. Testimony on Thursday at former President Donald J. Trump’s criminal trial in Manhattan dove deeply into the celebrity-obsessed digital media environment of the past fifteen years or so that helped fuel Mr. Trump’s rise to political prominence. In his testimony, particularly as he was cross-examined, Mr. Davidson and a defense lawyer, Emil Bove, together led the jurors on a whirlwind tour of several gossipy and tawdry deals he had a hand in. Prosecutors say that the former president’s efforts to continue to keep the story hidden were criminal.

Persons: Charlie Sheen, Lindsay Lohan, Hulk Hogan, Donald J, Keith Davidson, Davidson, Emil Bove, Karen McDougal, Stormy Daniels, Trump, Michael D, Cohen Organizations: Hollywood, Prosecutors Locations: Manhattan, Los Angeles

☆ Watch CNBC's full interview with famed tech investor Alan Patricof
▼ + stars: | 2024-05-02 | 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 EmailWatch CNBC's full interview with famed tech investor Alan PatricofHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Alan Patricof, Brian Sullivan, “ Organizations: CNBC

☆ Giant Pandas Are Returning to San Diego, China Announces
▼ + stars: | 2024-05-01 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The United States and China may be at odds these days over Russia’s war in Ukraine, cheap Chinese exports, tensions with Taiwan and matters of human rights. But when it comes to giant pandas, diplomacy is back. The Ministry of Foreign Affairs in China confirmed this week that two giant pandas — Yun Chuan and Xin Bao — would be sent from the China Conservation and Research Center to the San Diego Zoo. The zoo has a longstanding partnership with China on panda conservation research, and a ministry spokesman said the upcoming exchange would focus on prevention and treatment of major diseases and habitat protection. It is not clear when the new pandas will arrive, but the agreement should allay concerns that the recent tensions between the United States and China would threaten the beloved tradition of panda diplomacy.

Persons: Yun Chuan, Xin Bao —, Lin Jian Organizations: Ministry of Foreign Affairs, China Conservation and Research Center, San Diego Zoo Locations: States, China, Ukraine, Taiwan, U.S, United States

☆ U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort
▼ + stars: | 2024-05-01 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The sanctions represent a broadening of U.S. efforts to disrupt Russia’s military industrial complex supply chain. The Biden administration has expressed growing alarm about the weapons technology alliance between China and Russia. The sanctions follow Ms. Yellen’s trip last month to China, where she confronted Chinese officials over support for Russia. She warned them that Chinese companies and financial institutions that facilitate support for the Kremlin’s war effort would face penalties. The Treasury secretary said her counterparts told her that China had a policy of not providing Russia with military aid.

Persons: Biden, “, Janet L, Yellen, Yellen’s Organizations: Wednesday, Top U.S, Russia Locations: Russia, Ukraine, China, United States

☆ What the First Amendment Means for Campus Protests
▼ + stars: | 2024-05-01 | by ( Alan Blinder | ) www.nytimes.com time to read: +1 min

Follow our live coverage of the college protests at U.C.L.A. But many legal scholars, along with university lawyers and administrators, believe at least some of those free-speech assertions muddle, misstate, test or even flout the amendment, which is meant to guard against state suppression. Whose interpretation and principles prevail, whether in the courts or among the administrators in charge of meting out discipline, will do much to determine whether protesters face punishments for campus turmoil. The First Amendment doesn’t automatically apply at private schools. Public universities, as arms of government, must yield to the First Amendment and how the courts interpret its decree that there shall be no law “abridging the freedom of speech” or “the right of the people peaceably to assemble.”

Persons: “, ” Organizations: Protesters, Public Locations: U.C.L.A

☆ Biden Tax Increases Won’t Hit Middle Class, Yellen Says
▼ + stars: | 2024-04-30 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

The battle lines of the next big tax fight were laid out on Tuesday as Treasury Secretary Janet L. Yellen sparred with Republicans over the Biden administration’s plans to raise taxes on businesses and wealthy Americans. In recent weeks, Republicans have been amplifying their attacks on President Biden’s tax proposals, which have become central to the president’s re-election message. Many provisions in the $1.7 trillion tax cut that Republican lawmakers and former President Donald J. Trump enacted in 2017 are set to expire in 2025, including lower tax rates for individuals as well as many tax breaks for corporations. Renewing all of the tax measures for another decade would cost about $3 trillion, according to the Joint Committee on Taxation. Republicans have begun warning that Mr. Biden plans to allow all of the tax cuts to expire, effectively raising taxes on businesses and families at a moment when inflation is pinching consumers.

Persons: Janet L, sparred, Biden’s, Donald J, Trump, Biden Organizations: Biden, Republican, Taxation, Republicans

☆ ISS endorses most of activist Ancora's nominees for Norfolk Southern board
▼ + stars: | 2024-04-30 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Influential proxy advisory firm ISS recommended on Tuesday that Norfolk Southern shareholders support five of activist Ancora's seven board nominees, withholding an endorsement from CEO pick Jim Barber but describing him as a "credible director and CEO candidate nonetheless." Ancora is seeking to oust both current CEO Shaw and newly appointed COO John Orr. ISS recommends shareholders support Ancora nominees William Clyburn, Sameh Fahmy, Gilbert Lamphere, Allison Landry and John Kasich. "As board chair, Amy Miles arguably bears the most responsibility for this state of affairs," ISS' report read. WATCH: CNBC's full interview with NSC CEO Shaw on activist campaign

Persons: Jim Barber, Glass Lewis, Alan Shaw's, Barber, Amy Miles, Ancora, Shaw, John Orr, William Clyburn, Sameh Fahmy, Gilbert Lamphere, Allison Landry, John Kasich, Orr, Sen, Heidi Heitkamp, Richard Anderson Organizations: Norfolk, ISS, CNBC, Vanguard, BlackRock, Norfolk Southern, Delta Locations: Norfolk Southern, East Palestine , Ohio, Norfolk

The judge overseeing Donald J. Trump’s criminal case in Manhattan held him in contempt on Tuesday, fining the former president $9,000 for repeatedly violating a gag order and warning that he could go to to jail if he continued to attack witnesses and jurors. “The court will not tolerate continued willful violations of its lawful orders,” the judge, Juan M. Merchan, said as Mr. Trump’s trial reconvened for a third week. He added that while he was “keenly aware of, and protective of, defendant’s First Amendment rights,” he would jail Mr. Trump “if necessary and appropriate.”Justice Merchan determined that Mr. Trump had flouted the gag order by making nine public statements on social media and on his campaign website in which he attacked witnesses and the jury. He ordered Mr. Trump, the presumptive Republican nominee for president, to remove the posts by Tuesday afternoon. The judge’s ruling and admonition came one week after a fiery hearing in which prosecutors had argued that Mr. Trump’s statements threatened the trial.

Persons: Donald J, fining, “, ”, Juan M, Merchan, Trump’s, Trump Organizations: Republican Locations: Manhattan

☆ Trump Wants to Prosecute Biden. He Also Thinks Presidents Deserve Immunity.
▼ + stars: | 2024-04-30 | by ( Alan Feuer | Maggie Haberman | ) www.nytimes.com time to read: +1 min

“Could President Biden someday be charged with unlawfully inducing immigrants to enter the country illegally for his border policies?” the lawyer, D. John Sauer, asked. What Mr. Sauer did not mention was that Mr. Trump has done as much as anyone to escalate the prospect of threatening political rivals with prosecution. In 2016, his supporters greeted mentions of Hillary Clinton with chants of “lock her up.” In his current campaign, Mr. Trump has explicitly warned of his intent to use the legal system as a weapon of political retribution, with frequent declarations that he could go after President Biden and his family. In effect, Mr. Trump has asked the Supreme Court to enforce a norm — that in the United States, public officials do not engage in tit-for-tat political prosecutions — that he has for years threatened to shatter. In promising to sic his Justice Department on Mr. Biden, Mr. Trump has laid the grounds for the very conditions that he was asking the justices to guard against by granting him immunity.

Persons: Donald J, Trump, ceaselessly, “, Biden, John Sauer, Sauer, Hillary Clinton, ” Organizations: Mr Locations: United States

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