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☆ Sao Paulo governor turns heads on Brazil's right after Bolsonaro election ban
▼ + stars: | 2023-07-20 | by ( Ricardo Brito | ) www.reuters.com time to read: +5 min

Although the governor and his closest advisers insist he is focused on serving Sao Paulo state, many of Brazil's seasoned conservative power brokers are already calling the pro-business moderate a natural candidate for the presidency in three years. It also helped shore up three-quarters support among Sao Paulo lawmakers for the reform as it cleared one chamber of Congress. He is pushing to privatize the port of Santos on the Sao Paulo coast, a bid blocked for now by the federal government. And he has vowed to revive efforts to privatize state water utility Sabesp (SBSP3.SA), while Lula has decried recent privatizations under Bolsonaro. "He has to finish his mission in Sao Paulo with a second term," said one close aide, asking not to be named as he was not authorized to speak about the governor's plans.

Persons: Tarcisio de Freitas, Jair Bolsonaro, Freitas, Bolsonaro, Luiz Inacio Lula da Silva's, Marcos Pereira, of God, Arthur Lira, Ciro Nogueira, Bolsonaro's, Antonio Queiroz, Dilma Rousseff, Lula, Queiroz, Ricardo Brito, Anthony Boadle, Brad Haynes, Paul Simao Organizations: Paulo, Republicans, Universal Church of, Liberal Party, ARMY, Workers Party, Sao, Thomson Locations: BRASILIA, Sao Paulo, of, Brazilian, Santos

ATHENS, July 19 (Reuters) - Wildfires burned for a third day west of the Greek capital Athens on Wednesday, as authorities braced for a new heatwave stoking tinderbox conditions across the country. At first light, air water bombers resumed operations over the towns of Mandra, west of Athens, and Loutraki, close to the Corinth canal which separates mainland Greece from the Peloponnese. Firefighters worked throughout the night to keep flames at bay and away from a complex of coastal refineries. Dozens of homes were gutted and hundreds forced to flee towering flames which seared through hamlets on Tuesday. A year later, 101 people died in the seaside town of Mati, east of Athens, after a wildfire razed the town in a matter of hours.

Persons: Vassilis Varthakogiannis, Kostas Tsigas, Greece's, imploring, Andreas Theodosiadis, Michele Kambas, David Holmes Organizations: Firefighters, Traffic, Thomson Locations: ATHENS, Athens, Mandra, Corinth, Greece, Peloponnese, Italy, France, Rhodes, Dervenochoria, Mati

☆ Opinion: The GOP’s double standard on antisemitism
▼ + stars: | 2023-07-19 | by ( Opinion Jay Michaelson | ) edition.cnn.com time to read: +7 min

It echoes 1,000 years of antisemitic conspiracy theories that Jews are responsible for, yet somehow immune to, plagues and disease – beliefs that led to actual Jews being murdered by angry mobs. No, of course, we’re in Washington, DC, where politics dictates how antisemitism is, or isn’t, tolerated by those with something to gain from it. Really, it was only a matter of time before RFK Jr. stumbled into overt antisemitism. Without exaggeration, many of my Jewish friends have remarked that this mainstreaming of antisemitism reminds them of 1930s Germany. There is no equivalence between a strident anti-Israel remark and the resurrection of age-old antisemitic conspiracy theories.

Persons: Rabbi Jay Michaelson, Jay Michaelson Beowulf Sheehan, weren’t, Pramila Jayapal, Robert F, Kennedy, Jr, Jayapal, Kennedy Jr, John Lamparski, Joe Biden, Jay Michaelson, Kennedy’s, George Soros, MAGA, Nick Fuentes, Marjorie Taylor Greene’s, ’, Adolf Hitler Organizations: CNN, Rolling Stone, US Rep, Republicans, RFK, Democratic, Democrats, RFK Jr, Synagogue, for Disease Control, National Institute of Health, Homeland Security, FBI, CIA, Twitter, Facebook, MAGA Republicans, Georgia GOP, Washington DC Locations: Israel, we’re, Washington , DC, Pittsburgh, America, Georgia, California, Rothschild, Hollywood , New York, Germany

Bank of America (BAC.N) rose marginally in premarket trading after the lender posted a 20% surge in second-quarter profit, while Morgan Stanley's (MS.N) shares pared early gains after the bank's profit slipped 18%, hurt by a deal-making drought. The S&P 500 banks index (.SPXBK) has fallen 5.2% so far this year, underperforming the S&P 500 index (.SPX) which has notched a 17.8% gain after the biggest banking crisis since 2008 earlier this year took down three lenders and pummeled the sector. Overall earnings across industries are expected to decline 8.1% for the quarter, according to Refinitiv data. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were down 3.75 points, or 0.08%, and Nasdaq 100 e-minis were down 26.25 points, or 0.17%. Pinterest (PINS.N) gained 3.3% as Evercore ISI upgraded its rating on the stock to "outperform" and Marvell Technology (MRVL.O) climbed 1.1% after Bank of America added the chipmaker to its U.S. No.1 list.

Persons: Morgan Stanley, Morgan Stanley's, Sam Stovall, Wells, Lockheed Martin, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Dow, Nasdaq, CFRA Research, JPMorgan Chase, Bank of New York Mellon, PNC Financial Services, Lockheed, Dow e, Federal Reserve, ISI, Marvell Technology, U.S, Thomson Locations: New York, Bengaluru

Shares of Charles Schwab jumped 13.2%, leading gains on the S&P 500 (.SPX), and those of PNC rose 2.6%. The S&P 500 banks index (.SPXBK) has fallen 3.9% so far this year, in the aftermath of a banking crisis that took down three lenders and pummeled the sector, underperforming the S&P 500 index (.SPX) that has notched a 17.8% gain in the same period. ET, the Dow Jones Industrial Average (.DJI) was up 141.63 points, or 0.41%, at 34,726.98, the S&P 500 (.SPX) was up 3.12 points, or 0.07%, at 4,525.91, and the Nasdaq Composite (.IXIC) was down 43.61 points, or 0.31%, at 14,201.34. Eight of the top 11 S&P 500 sectors advanced with industrials (.SPLRCI) leading gains, while technology stocks (.SPLRCT) fell 0.6%. The S&P index recorded 20 new 52-week highs and no new lows, while the Nasdaq recorded 65 new highs and 33 new lows.

Persons: Morgan Stanley, Lockheed Martin, MS.N, Robert Pavlik, Wells, Charles Schwab, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Lockheed, Dow, Nasdaq, Dakota Wealth ., . Federal, JPMorgan Chase, PNC Financial Services, PNC, Dow Jones, industrials, Wall, U.S . Federal Reserve, ISI, NYSE, Thomson Locations: ., Bengaluru

Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. Tesla (TSLA.O) gained 1.9% after the company said on Sunday it had built its first Cybertruck, after two years of delays. New York Fed Manufacturing data showed the general business conditions index fell to 1.1 from 6.6 in June, indicating activity changed little during the month. Elsewhere, data showed the Chinese economy grew at a frail pace in the second quarter. The S&P index recorded 44 new 52-week highs and four new lows, while the Nasdaq recorded 104 new highs and 50 new lows.

Persons: Ford, Morgan Stanley, Goldman Sachs, Chris Zaccarelli, JPMorgan Chase, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee, Maju Samuel Organizations: Citi, Dow, Nasdaq, Apple, Tesla, Bank of America, Netflix, Independent, Alliance, Ford, General Motors, Dow Jones, Federal Reserve, New York Fed, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, NYSE, Thomson Locations: Wells Fargo, U.S, Bengaluru

Second-quarter earnings are gathering momentum, with Tesla (TSLA.O) due to report on Wednesday, while Bank of America (BAC.N), Morgan Stanley (MS.N), Goldman Sachs (GS.N) and Netflix (NFLX.O) are also lined up through the rest of the week. Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. In trading before the bell, Tesla <TSLA.O> gained 1.6% after the company said on Sunday it had built its first Cybertruck, after two years of delays. Lackluster Chinese economic data weighed on investors' minds on Monday as the world's second largest economy grew at a frail pace in the second quarter. During the week, investors also await retail sales and new homes figures for June.

Persons: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Danni Hewson, AJ Bell, Bansari Mayur, Nivedita Bhattacharjee, Maju Samuel Organizations: Dow, Nasdaq, Bank of America, Netflix, Dow e, Federal Reserve, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, Meta, Thomson Locations: Norway, Wells Fargo, U.S, Bengaluru

☆ China logs 52.2 Celsius as extreme weather rewrites records
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

The target of keeping long-term global warming within 1.5C is moving out of reach, climate experts say. Prolonged bouts of high temperatures in China have challenged power grids and crops, and concerns are mounting of a possible repeat of last year's drought, the most severe in 60 years. China is no stranger to dramatic swings in temperatures across the seasons but the swings are getting wider. Since then, the heaviest rains in a decade have hit central China, ravaging wheat fields in an area known as the country's granary. Reporting by Ryan Woo; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: John Kerry, Xie Zhenhua, Ryan Woo, Tom Hogue Organizations: U.S, Thomson Locations: BEIJING, Sanbao, Xinjiang's Turpan, Xinjiang, Ayding, Asia, China, Mohe, Heilongjiang, United States, Beijing

☆ Manchin’s New Hampshire trip will leave Democrats shivering
▼ + stars: | 2023-07-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

The West Virginia Democrat’s model has served him well with repeated statewide wins in one of the most conservative pro-Trump states in the nation. For now, Manchin’s noncommittal answers are worrying some of his Democratic colleagues. Polls show that both Biden and Trump, the front-runner for the GOP nomination, are unpopular. It argues, therefore, that 79 electoral votes are potentially at risk for Biden from the involvement of a third-party challenger. Such a challenger would also need to win states where Biden won big, and at least some conservative bastions.

Persons: West Virginia Sen, Joe Manchin, Donald Trump, Manchin, who’s, Joe Biden, roil Biden’s, CNN’s Manu Raju, –, “ I’ve, Biden, Manchin’s, Arizona Sen, Mark Kelly, ” Kelly, “ I’m, West, Vermont Sen, Bernie Sanders, Biden –, Georgia –, CNN’s Kaitlan Collins, Trump, “, Robert Kennedy Jr, ’, Kennedy, Ron DeSantis, DeSantis, Jake Tapper, ”, Jon Huntsman, Ryan Clancy, CNN’s Michael Smerconish, we’ve, Jill Stein, Ralph Nader, Gary Johnson –, Nader, Stein, siphoning, Al Gore, Hillary Clinton, CNN’s Harry Enten, don’t, Chris Christie, Trump’s, ” Christie Organizations: CNN, West, Democratic, West Virginia Democrat’s, Trump, Senate, Manchin, Harvard, Green, GOP, Biden, Florida Gov, Democratic National Committee, Republican Gov, Saint Anselm College in, Republican, Democrats, Green Party, Libertarian Party, Trump Republicans, Quinnipiac University, Former New Jersey Gov, ABC Locations: West Virginia, New Hampshire, Granite, Arizona, “ State, Vermont, Georgia, Covid, South Carolina, Florida, Saint Anselm College in Manchester, United States, Washington, Former

☆ Vulnerable Republicans Take a Political Risk With Abortion Vote
▼ + stars: | 2023-07-14 | by ( Annie Karni | More About Annie Karni | ) www.nytimes.com time to read: +2 min

The policy reimburses travel costs for personnel who must travel out of state to obtain an abortion or related services. Democrats pointed to the vote as a prime example of Republicans taking votes that could ultimately cost them their House majority. Strategists in both parties have suggested that the Supreme Court’s abortion decision, and Democrats’ subsequent efforts to spotlight Republican opposition to abortion rights, weakened the G.O.P. “It wouldn’t be the way I would run the place, but at the end of the day as long as we pass N.D.A.A. Mr. Gonzales, who voted for the abortion amendment and others barring transgender health services and limiting diversity training for military personnel, voted against amendments that sought to cut funding for Ukraine.

Persons: “ I’m, ”, “, ’, Courtney Rice, Tony Gonzales, Gonzales Organizations: Republican, Department, “, Democratic Congressional, Republicans, Democrat, Ukraine Locations: Texas

[1/5] Sean O'Brien, President of the International Brotherhood of Teamsters, speaks to UPS Teamsters during a picket ahead of an upcoming possible strike, outside of a UPS Distribution Center in Brooklyn, New York, U.S., July 14, 2023. The contract covering UPS workers who sort, load and deliver packages expires on July 31. I assume at some point they'll be reaching out looking to try and get a deal," Sean O'Brien, general president of the International Brotherhood of Teamsters, told Reuters following a worker rally in New York. Earlier in the day, UPS said it remained focused on reaching an agreement before the current one expires. UPS, which aims to hold down labor costs to compete with non-union rivals, could lose customers in a strike, while the Teamsters count UPS as the largest employer of Teamster-represented U.S. workers.

Persons: Sean O'Brien, Brendan McDermid, he's, O'Brien, Lisa Baertlein, John Stonestreet Organizations: International Brotherhood of Teamsters, UPS Teamsters, UPS, REUTERS, United Parcel Service, Teamsters, Reuters, Teamster, Thomson Locations: Brooklyn , New York, U.S, ANGELES, New York, Los Angeles

☆ Larry Summers warns US deficits have never looked as ominous as they do now and are on a 'completely unsustainable path'
▼ + stars: | 2023-07-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Former Treasury Secretary Larry Summers said US deficits are on an unsustainable trajectory. Deficits are stoking inflation and forcing the Fed to raise rates more than it would otherwise, he told the Atlantic. "I don't think there's ever been a moment when the trajectory looks nearly as ominous as it does now." During the Great Financial Crisis, he was among the top voices in the Obama administration to support federal deficit spending to jump start the economy and avoid long-term stagnation. For Summers, there's no reason the government should continue to run massive deficits, noting that the economy is growing at a healthy pace.

Persons: Larry Summers, Summers, Obama, Trump, there's Organizations: Fed, Service, Republican, Social Security, Medicare, Federal Reserve Locations: Wall, Silicon

☆ Don’t Be Fooled by the Fake Uproar Over Woke Capitalism - The New York Times
▼ + stars: | 2023-07-12 | by ( Lydia Polgreen | ) www.nytimes.com time to read: +3 min

Netflix, the once unstoppable juggernaut that seemed likely to eat Hollywood for breakfast, is an interesting case in point. As its growth has slowed and the political climate has changed, it reportedly shelved a plan to produce an anti-racist video series. Our systems of government increasingly favor electoral minorities — like gerrymandered state legislatures in a polarized environment — rather than common-sense compromise. rights, we are tilting ever more toward a system that allows a fanatical minority to impose its views as law. But woke capitalism is a paper tiger.

Persons: George Floyd, Thomas Frank, “, Reagan, ” Organizations: Netflix, Elites Locations: America

☆ Asian shares rise, dollar dips as traders await US inflation data
▼ + stars: | 2023-07-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The Japanese yen strengthened against most major currencies and last fetched 139.43 against the dollar, its highest in a month. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.61% higher, while Australia's S&P/ASX 200 index (.AXJO) rose 0.54%. "However, if the core CPI decelerates as anticipated, investors may continue to keep the odds for September and November rate hikes low." China shares (.SSEC) eased 0.14%, while Hong Kong's Hang Seng Index (.HSI) rose 0.5% in early trading. The dollar index , which measures the U.S. currency against six peers, fell 0.197% at 101.40, having slid as low as 101.37, its lowest in two months.

Persons: Australia's, Hong, Rodrigo Catril, Wells, Saira Malik, Brent, Ankur Banerjee Organizations: Federal, Japan's Nikkei, Reuters, Saxo Markets, National Australia Bank, Investor, JPMorgan, Citigroup, New Zealand, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Wall, dealmaking

☆ Trump supporter sues Fox News alleging Tucker Carlson defamed him by calling him an FBI informant who incited January 6 riot
▼ + stars: | 2023-07-12 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

Ray Epps sued Fox News, saying host-turned-Twitter vlogger Tucker Carlson defamed him. Carlson accused him of being an FBI informant who incited the Capitol riot. According to the lawsuit, Epps and his wife, Robyn Epps, both listened to Fox News push falsehoods about the results of the 2020 election. "The lies that Fox told were heard by Ray and Robyn Epps, loyal Fox viewers and fans of Tucker Carlson and other Fox personalities," the lawsuit says. The conspiracy theory about Epps has been frequently advanced by Tucker Carlson, a Twitter vlogger who was fired by Fox News in April.

Persons: Ray Epps, Twitter vlogger Tucker Carlson, Epps, Carlson, Ray Epps —, Donald Trump, Fox News —, Trump, Joe Biden, Fox, Robyn Epps, Ray, Tucker Carlson, Chadwick Moore, —, Kevin McCarthy, Robin, Fox News didn't Organizations: Fox News, Twitter, Capitol, Trump, Service, Fox, FBI, Smartmatic, Voting Systems, Dominion, CBS Locations: Wall, Silicon, Washington

☆ Apple TV+ has grown to No. 3 among ad-free streamers, besting Hulu and Max in share — but it faces stiff competition if it launches an ad tier
▼ + stars: | 2023-07-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

New data shows Apple TV+ has more than tripled its share of streaming subscribers. More established streamers have had the most success growing their ad tiers. The findings come as Apple TV+ is rumored to be planning to join the other major streamers in chasing video advertising. Apple TV+ has more than tripled its share of ad-free subscribers in the past two years, jumping ahead of Paramount+, Disney's Hulu, and Warner Bros. But Apple TV+ has yet to move into ad-supported streaming, where competitors are seeing their biggest subscriber growth — not to mention new revenue opportunities.

Persons: Peacock, Lauren Fry, Hulu, Discovery's Max, Jonathan Carson Organizations: Apple, Hulu, Paramount, Warner Bros, Netflix, Disney Locations: Hulu

☆ Mark Zuckerberg is sassing Elon Musk non-stop on Meta's Threads, throwing out punch after punch about Twitter's fails
▼ + stars: | 2023-07-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

It looks like Zuckerberg didn't need to wait for a cage match to land some punches on Musk. It looks like Mark Zuckerberg didn't need to wait for a jiu-jitsu cage match with Elon Musk to land some punches on the Twitter owner — the Zuck has already started sassing Musk in posts on Threads. Meta launched its new text-based app, Threads, on Wednesday. And it looks like Zuckerberg is taking the first shot by hitting Musk where it hurts — making Threads the "anti-Twitter." said a user named mikedavismma.

Persons: Zuckerberg, they're, Mark Zuckerberg, Elon Musk, —, sassing, Elon, Zuck, witter, arth, ike Z, hreads, ike, eople, hough, ong, ake, T witter Organizations: Twitter, Meta Locations: usk

☆ US layoffs halve in June as tech job cuts ease - report
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

Despite the drop in job cuts in the month, layoffs in June were higher than the corresponding month a year earlier, the report said. Technology companies continue to lead job cut announcements with 141,516 layoffs in the first half of the year, compared with about 6,000 in the same period last year. The sector laid off nearly 5,000 employees last month, the report said. After a round of multiple rate hikes, the Fed unanimously kept its interest rates steady at the central bank's June meeting that could freeze layoffs and allay fears of employees. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: stoking, Andrew Challenger, Stuart Cole, Akash Sriram, Jaspreet Singh, Maju Samuel Organizations: Christmas Inc, Corporate America, Federal Reserve, Technology, Fed, Equiti, Thomson Locations: United States, Bengaluru

Brent crude futures settled down 1%, or 76 cents, at $74.65 a barrel while U.S. West Texas Intermediate crude settled down 1.2%, or 85 cents, to $69.79. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said. "Oil is facing serious economic headwinds and the market is trying to make sense of what additional crude cuts mean in that context," said John Kilduff, partner at Again Capital LLC in New York. Russia, seeking to tighten global crude supplies and boost prices in concert with Saudi Arabia, will reduce oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd.

Persons: Brent, John Kilduff, Alexander Novak, Tamas Varga, Alex Lawler, Natalie Grover, Florence Tan, Emily Chow, Jason Neely, David Goodman, David Gregorio Our Organizations: West Texas, OPEC, Thomson Locations: Saudi Arabia, Russia, Europe, China, New York, Riyadh, Moscow, London, Singapore

SummarySummary Companies Saudi Arabia extends production cuts through AugustRussia to cuts August exports by 500,000 bpdGloomy factory activity last month in Europe, China limits gainsJuly 3 (Reuters) - Oil prices rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, prompting prices to bounce of early losses spurred by worries about a slowing global economy and possible U.S. interest-rate hikes. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said. Brent crude futures were up 0.6%, or 43 cents, at $75.84 a barrel by 11:52 a.m. EDT (1652 GMT) U.S. West Texas Intermediate crude rose 0.6%, or 39 cents, to $71.03. Russia, seeking to tighten global crude supplies and boost prices in concert with Saudi Arabia, will reduce oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ oil producers to 5.16 million bpd.

Persons: Brent, John Kilduff, Alexander Novak, Tamas Varga, Alex Lawler, Natalie Grover, Florence Tan, Emily Chow, Jason Neely, David Goodman, David Gregorio Our Organizations: Brent, West Texas, OPEC, Thomson Locations: Saudi Arabia, Russia, Europe, China, U.S, New York, Riyadh, Moscow, London, Singapore

☆ Jews should leave Russia 'before it's too late,' says former chief rabbi of Moscow
▼ + stars: | 2023-07-02 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

The former chief rabbi of Moscow is urging Jews to leave Russia. Rabbi Pinchas Goldschmidt himself fled the country following last year's invasion of Ukraine. Russia on Friday labeled Goldschmidt a "foreign agent," citing his opposition to the war. In a statement on Saturday, Rabbi Pinchas Goldschmidt, who himself fled the country in March 2022, noted that he had spent three decades supporting the Jews of Russia. "I call on the Jewish community to leave the country, before it is too late."

Persons: Rabbi Pinchas Goldschmidt, Goldschmidt, —, " Goldschmidt Organizations: Service, Synagogue, Conference, Guardian, Russian, Ministry, Friday Locations: Moscow, Russia, Ukraine, Israel, Jerusalem

☆ Apple TV+ is growing faster than other streamers, but it'll have a lot of catchup to do when it launches its rumored ad tier
▼ + stars: | 2023-06-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

More established streamers have had the most success growing their ad tiers. The findings come as Apple TV+ is rumored to be planning to join the other major streamers in chasing video advertising. Apple hired ad exec Lauren Fry earlier this year to build out the business, The Information reported, stoking speculation about its ad plans. And the streamers that have had an ad-supported tier for a while may have a first-mover advantage, the Antenna data suggests. AntennaNetflix and Disney+, meanwhile, whose ad tiers are the newest — having launched late last year — have only 2% and 5% of their subscribers opting for ads, respectively.

Persons: Peacock, Lauren Fry, Hulu, Discovery's Max, Jonathan Carson Organizations: Hulu, Apple, Paramount, Warner Bros, Netflix, Disney Locations: Hulu

☆ Resetting student loans brings Econ 101 lessons
▼ + stars: | 2023-06-30 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

A U.S. Supreme Court ruling against President Joe Biden’s student loan forbearance erases as much as $20,000 in potential relief for graduates. Combined with the resumption of debt payments, borrowers will be feeling the pinch in their wallets and their confidence. The court said on Friday that a plan to wipe out swathes of student loans was unconstitutional, ending hopes of an easier financial future for some 43 million borrowers. If the Supreme Court had supported the relief, it also risked stoking inflation just as it slides to a healthier level. The proposal aimed to relieve $10,000 of student loans for individuals earning less than $125,000 annually, and an additional $10,000 for eligible borrowers who received Pell Grant subsidies.

Persons: Joe Biden’s, Mark Zandi, Taco, Pell Grant, Donald Trump, Jeffrey Goldfarb, Streisand Neto Organizations: Reuters, U.S, Supreme, White, Census Bureau, U.S . Federal Reserve, Bureau of Labor Statistics, Taco Bell, Yum Brands, Biden, Democratic, Congressional, Office, Former U.S, Thomson

☆ Breakingviews: Student-loan ruling offers Econ 101 crash course
▼ + stars: | 2023-06-30 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

A U.S. Supreme Court ruling against President Joe Biden’s student loan forbearance erases as much as $20,000 in potential relief for graduates. Combined with the resumption of debt payments, borrowers will be feeling the pinch in their wallets and their confidence. Had Biden’s policy covered $10,000 of their debt, the typical monthly payment would have shrunk by about a quarter. If the Supreme Court had supported the relief, it also risked stoking inflation just as it slides to a healthier level. CONTEXT NEWSThe U.S. Supreme Court on June 30 ruled 6-3 against President Joe Biden’s plan to forgive student loan debt for some 43 million borrowers.

Persons: Joe Biden’s, Mark Zandi, Taco, Pell Grant, Donald Trump, Jeffrey Goldfarb, Streisand Neto Organizations: Reuters, U.S, Supreme, White, Census Bureau, U.S . Federal Reserve, Bureau of Labor Statistics, Taco Bell, Yum Brands, Biden, Twitter, Democratic, Congressional, Office, Former U.S, Thomson

☆ Opinion | Do Not Panic. It’s Just a Moral Panic.
▼ + stars: | 2023-06-29 | by ( Pamela Paul | ) www.nytimes.com time to read: +2 min

Not to freak you out, but you may be in the middle of a moral panic. A moral panic is the pervasive belief that some great wickedness is threatening society and must be stopped. According to the panic police, if you are worried about children and social media, you are succumbing to moral panic. If you’re troubled about your employees ruining the corporate brand on TikTok, that’s right: moral panic. Trepidations about artificial intelligence, crime, teenage Juul use, policing, gender ideology, privacy, self-driving cars, feminism, A.D.H.D., racism — moral panics, all.

Persons: Nachman Ben, Yehuda, Erich Goode, ” Ben Organizations: Hebrew University Locations: Jerusalem

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