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☆ Why Wall Street is transfixed by a BofA banker's untimely death
▼ + stars: | 2024-05-08 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.

Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, —, UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com

☆ Google employees question execs over 'decline in morale' after blowout earnings
▼ + stars: | 2024-05-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +8 min

"How does leadership plan to address these concerns and regain the trust, morale and cohesion that have been foundational to our company's success?" "Despite the company's stellar performance and record earnings, many Googlers have not received meaningful compensation increases" a top-rated employee question read. Google's use of cashThere were a lot of employee questions ahead of last week's meeting directed at the company's buyback, Porat said. With respect to the decline in morale brought up by employees, Pichai said "leadership has a lot of responsibility here, adding that "it's an iterative process." CNBC reported last week that Google is laying off at least 200 employees from its "Core" organization, which includes key teams and engineering talent.

Persons: Sundar Pichai, Loren Elliott, Ruth Porat, We've, Alphabet's, Hollie Adams, Porat, Prabhakar Raghavan, dory, Pichai, Ted, Larry Page, Jim Cramer Organizations: Inc, Government, Society, Bloomberg, Getty, Google, Economic, Finance, CNBC Locations: Stanford , California, Davos, Switzerland, U.S

☆ Want to fire your real estate agent? Try this.
▼ + stars: | 2024-05-07 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

A $418 million legal settlement in March upended the residential real estate market. It's the brainchild of Lewis Buckley and Allan Wood who met during a private home sale process that — you guessed it — involved no real estate agents. In the US, commissions on home transitions have hovered between 5% and 6% of the sale price for decades. In the UK, real estate agents charge a 1% to 3% of the property sale price, and then sellers usually have to hire someone else to handle the legal stuff. Even with the lowest 1% commission rate of a traditional estate agent, a homeowner would save £4,605 if they paid Hiizzy's £395 flat fee.

Persons: —, Lewis Buckley, Allan Wood, Albert Fox Cahn Organizations: Service Locations: Hiizzy

☆ Garrick Club of London Votes to Accept Female Members for First Time
▼ + stars: | 2024-05-07 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

One of London’s oldest, most celebrated men’s clubs, the Garrick, voted on Tuesday to admit women as members, according to two members. The vote ended a decades-long dispute that had divided the club, generated multiple conflicting legal arguments and made life acutely awkward for some of its most prominent members. Some members had said they planned to swiftly nominate a slate of prominent women, including the actress Judi Dench and the classics scholar Mary Beard. The club did not comment on the meeting, which lasted almost two hours, or the results of the vote, and the members asked not to be identified because they had been asked not to discuss it. They said the debate had been civil, and the vote, which was conducted electronically, had been conducted briskly.

Persons: Garrick, —, Judi Dench, Mary Beard

☆ Columbia’s student journalists produced New York magazine’s cover story. Here’s how they did it
▼ + stars: | 2024-05-07 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

“It was clear from the outset that The Spectator was really leading the coverage,” Summers told CNN by phone Monday. The photographs were captured by student journalists — including the cover image shot by freshman Stella Ragas — working in conjunction with New York photo director Jody Quon. Gathering reporting from campus for the issue, however, was not without its challenges for the student journalists. “There is significantly more trust of us than national outlets who parachute in and maybe don’t have the intimate knowledge,” Ramirez told CNN. In fact, when the encampments first propped up on campus, Ramirez told CNN that the student journalists were reluctant to retire for the night.

Persons: New York CNN —, Nick Summers, Isabella Ramirez, Summers, ” Summers, Ramirez, —, Stella, Jody Quon, David Dee Delgado, ”, Quon, “, ” Quon, ” Ramirez Organizations: New York CNN, New York, Columbia University, Columbia Daily Spectator, The Spectator, New, CNN, The, Hamilton Hall, Israel, Rye, Protesters, Reuters “ Locations: New York, Morningside, Rye Spaeth, Hamilton Hall

☆ I was laid off from my job at a fancy convenience store chain when it suddenly shuttered. My final shift felt like 'The Purge.'
▼ + stars: | 2024-05-07 | by ( Maria Noyen | ) www.businessinsider.com time to read: +7 min

Foxtrot, an upscale convenience-store chain, shuttered its 33 locations on April 23. AdvertisementThis as-told-to essay is based on a conversation with Declan Rhodes, a 25-year-old former employee of Foxtrot, an upscale convenience store chain that was based in Chicago. This will be a nice little survival job while I'm auditioning." It was just: "Kick everyone out of the store, take out the trash, lock doors, and close the store officially." My next move after FoxtrotIt's back to square one in terms of finding a survival job.

Persons: Declan Rhodes, —, I've, John J, Kim, strapping, we'd, Rhodes, It's, I'm Organizations: Service, Washington DC, Business, Caesars, Chicago Tribune, Tribune, Getty, Foxtrot Locations: Chicago, Austin, Dallas, Springfield , Missouri, Illinois

☆ With Schools in Ruins, Education in Gaza Will Be Hobbled for Years
▼ + stars: | 2024-05-06 | by ( Liam Stack | Bilal Shbair | ) www.nytimes.com time to read: 1 min

Amjad Abu Daqqa was among the top students at his school in Khan Younis, excelling in math and English, and he was applying for a scholarship to study in the United States when war erupted in the Gaza Strip last October. Teachers used to reward his good grades with trips to local historical sites or to the pier, where they would watch boats and take pictures of the sunset. He dreamed of going into medicine like his big sister, Nagham, who studied dentistry in Gaza City. But his old life and old dreams now feel far away. “I feel like I am a body without a soul, and I want to feel hopeful again.”

Persons: Amjad Abu Daqqa, Khan Younis, Nagham, ”, Amjad Locations: United States, Gaza, Gaza City, Rafah

☆ I'm a boomer and will never be able to retire. At 62, I'm already using my Social Security money.
▼ + stars: | 2024-05-06 | by ( Michelle Terhune | ) www.businessinsider.com time to read: +4 min

At 62, it feels like I'm going to be working forever as a freelancer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I wasn't so focused on rebuilding my life that I forgot about how close I was to the traditional retirement age. By making that choice, I faced the fact that I'd never be able to retire unless I remarried well or won the lottery. And at the age of 62 and one month, I made another move financial advisors tell you not to do: I started drawing my Social Security.

Persons: I've, —, I'd, I'm, Ernest Hemingway Organizations: Service, Security Locations: Europe, Slovenian

Look at what's happening in Ukraine. Look at what's happening in the Middle East. Drones have changed modern warfare, public safety, and homeland security forever," Dedrone CEO Aaditya Devarakonda told CNBC on May 6, 2024, the day his startup was acquired by public safety company Axon. Public safety technology company Axon announced Monday that it is acquiring drone defense startup Dedrone. "And you can see what's happening around the world.

Persons: Aaditya Devarakonda, Dedrone, Rick Smith, CNBC's Morgan Brennan, Smith Organizations: Armed Forces, Ukraine, CNBC Locations: Lviv, Ukraine

☆ The US will see a recession by year-end that could spark a 30% drop in the stock market, legendary forecaster Gary Shilling says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

A coming recession could end up sparking a "violent correction" in stocks, Gary Shilling told BI. The top forecaster pointed to warning signs of a downturn, such as a weaker job market. AdvertisementInvestors should be prepared for a recession with the potential to send the stock market plummeting this year, according to top forecaster Gary Shilling. That could be the final blow to the stock market rally fueled by investor overconfidence, causing stocks to drop by as much as 30%, Shilling said. Related storiesThe job market, for one, is "obviously slipping" as firms pull back on hiring, Shilling said.

Persons: Gary Shilling, —, overconfidence, Shilling, we've, we're Organizations: Service, Business, Wall, Employers, San Francisco, Treasury

☆ Why Apple's ad business isn't what you think it is
▼ + stars: | 2024-05-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Apple's definition of "services" includes advertising, which Apple routinely says is a major driver of its services growth. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But as we've pointed out many times, iPhone sales won't grow forever. Which is why, for the last several years, Apple has been taking pains to highlight its growing "services" business. "Services," per Apple's description, is a fast-growing grab-bag of stuff, all of which doesn't directly involve Apple hardware: money Apple makes from App Store sales; money Apple makes selling warranties and cloud storage; and money Apple makes selling you music and TV subscription services.

Persons: —, doesn't Organizations: Apple, Service, Business

☆ Met Gala 2024: Everything we know about the theme, hosts and guests
▼ + stars: | 2024-05-06 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

Bad Bunny, Jennifer Lopez, Chris Hemsworth and Zendaya will co-chair this year's Met Gala for the exhibition "Sleeping Beauties: Reawakening Fashion." The first celebrities to appear will be Gala co-chairs Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth, the last of whom is making his Met Gala debut. What was the first Met Gala theme? Gwyneth Paltrow famously called the Met Gala “un-fun” in 2013 and said she’d “never” go again, but returned in 2017 (and 2019). Met Gala guests have often broken the no-social-media rule to give a more candid glimpse of who is hanging with who and what goes on behind closed doors.

Persons: CNN —, —, Jared Leto’s, Rihanna, J.G, Ballard, Andrew Bolton, Bunny, Jennifer Lopez, Chris Hemsworth, Zendaya, James Devaney, Victor Aubry, Christina House, Neil Mockford, Bad Bunny, Anna Wintour, Wintour, Arturo Holmes, Karl Lagerfeld, Rei Kawakubo, Charles James, Christian Dior, Alexander McQueen, Gianni Versace, Angela Weiss, Lagerfeld, Anne Hathaway, Nicole Kidman, Jenna Ortega, Chanel, Fendi, Eleanor Lambert, Diana Vreeland, LaunchMetrics, Calvin Klein, “, ” Cher, Ron Galella, ”, Lady Gaga, Kardashian, Jenners, Donald Trump, James Corden’s, Demi Lovato, Zayn Malik, Tina Fey, Fey, David Letterman ”, backtrack, Gwyneth Paltrow, she’d “, Olivia Wilde, Margaret Zhang, Kevin Mazur, Bella Hadid, Dakota Johnson, Jason Derulo, Jay, Solange, it’s, ” Wilde Organizations: CNN, Metropolitan Museum of Art, Costume Institute, Los Angeles Times, American Vogue, New York Times, Getty, Super, Hollywood, Vogue, “ Vogue China Locations: New York, British, American, China

☆ Hamas has proposed a ceasefire deal. Here’s why that won’t bring an immediate end to the war in Gaza
▼ + stars: | 2024-05-06 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

CNN —When Hamas declared on Monday evening that it has “agreed” to a ceasefire deal, it caught many off guard. But US officials have pushed back on Hamas’ claim that it had “agreed” to a ceasefire deal, instead characterizing the response as a counterproposal with changes. The Hamas proposal calls for an end to the war, which is a red line for Israeli Prime Minister Benjamin Netanyahu, a senior American official told CNN. “Both sides only want a ceasefire deal that ensures their political survival,” Lowenstein said. It is not a list of individuals who can be killed or infrastructure and equipment that can be destroyed,” Ibish told CNN.

Persons: CNN —, ”, Israel, Bill Burns, Benny Gantz, Benjamin Netanyahu, Matan Golan, Frank Lowenstein, Barack Obama, ” Lowenstein, Netanyahu — “, Netanyahu, Barak Ravid, CNN’s Anderson Cooper, Hamas’s, Biden, doesn’t, Lowenstein, “ Bibi, he’s, Khan Younis, “, that’s, Bibi, it’s, ” Hussein Ibish, Ibish, ” Ibish, “ Netanyahu Organizations: CNN, Hamas, CIA, Qatari, Israeli, Palestinian, Israel, AFP, Getty, Gulf States Institute Locations: Gaza, Rafah, Egypt, Cairo, Israel, “, American, Tel Aviv, Washington ,, Qatar

☆ When grief and AI collide: These people are communicating with the dead
▼ + stars: | 2024-05-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +12 min

People have wanted to reconnect with deceased loved ones for centuries, whether they’ve visited mediums and spiritualists or leaned on services that preserve their memory. In September 2023, it introduced ChatGPT voice, where users can ask the chatbot prompts without typing. HereAfter AI, founded in 2019, allows users to create avatars of deceased loved ones. “Remembering is very important; it reflects the human condition and importance of deceased loved ones.”But she noted the relationship we have with our closest loved ones is built on authenticity. Creating an AI version of that person could for many “feel like a violation of that.”Bill Abney said he feels uneasy about communicating with his late fiancée through AI platforms.

Persons: Ana Schultz, Kyle, ”, Schultz, “, Schutz, they’ve, ” Ana Schultz, ElevenLabs, Joe Biden, Biden, ChatGPT, OpenAI, Danielle Jacobson, she’s, Phil, Cole, ” Jacobson, “ Cole, Replika, Rohit Prasad, Val Kilmer, It’s, Mary, Frances O’Connor, ‘, ’ ”, Bill Abney, Kari, ” Abney, “ I’m, Jodi Spiegel, Sims Organizations: CNN, Davidson College, Tech, Alexa, MARS, Amazon, University of Arizona Locations: Rock Falls , Illinois, Alabama, Johannesburg, South Africa, “, San Francisco, Newfoundland, Canada

☆ The new power figures in hedge funds do not manage money
▼ + stars: | 2024-05-05 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On the agenda:But first: Why Wall Street is so happy to see the job market slowing down. New data from Vanguard shows a two-tier job market: one divided between a blue-collar boom and a white-collar recession. Also read:AdvertisementiStock; Rebecca Zisser/BIThe portfolio-manager whisperersThe new power figures in hedge funds do not manage money.

Persons: —, it's, Brian Rose, It's, Christie Hemm, Jan Sramek, Goldman Sachs, Reid Hoffman, Marc Andreessen, Alyssa Powell, Stefano Spicca, Jenny Chang, Rodriguez, Rebecca Zisser, whisperers, Gates Organizations: Business, Service, Federal Reserve, Fed, UBS Global Wealth Management, Big, Silicon, California, Vanguard, Microsoft, Big Tech Locations: Austrian, Solano County, Napa, Sacramento, California, Silicon Valley, New York City

☆ Retailers jacked up prices and squeezed consumers. They might have just blinked
▼ + stars: | 2024-05-05 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“There’s just less dollars for consumers to spend.”The challenge for retailers now is to shake consumers out of that frugal mindset. Retail spending has increased in seven of the past 10 months through March. “If you want to convince consumers to spend you have to give them a reason to do so. Lower prices are a clear opportunity to drive people into the store or online.”It’s a lever that Walmart, he said, has pulled forever. Clothing chain H&M told analysts during its most recent earnings call that it, too, would lower prices.

Persons: Sarah Wyeth, ”, Chad Lusk, Alvarez, ” Wyeth, “ There’s, they’re, Zak Stambor, Stambor, Joe Raedle, ” Stambor, “, ” Jesper Brodin, ” Brodin, ” Michaels, ” Ashley Buchanan, Michaels, Lars Daniel Ervér, Frida, Chuck, – CNN’s Bryan Mena Organizations: New, New York CNN —, Ikea, Shoppers, “ Retailers, CNN, Walmart, Ingka, “, Cheese, Stambor Locations: New York, Hallandale Beach , Florida

☆ Inflation is scrambling Americans' perceptions of middle class life
▼ + stars: | 2024-05-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

For many in the middle class, inflation is at the heart of this feeling. That's making people feel locked out of many of the milestones long associated with middle-class life. 74% of middle class Americans have cut back on non-essential spending, according to Primerica's survey. 46% of middle-class Americans said they've dialed back or completely paused saving for the future and 38% said they didn't think they could afford an unexpected expense over $1000. Buying a home may be the greatest example of a tenet of middle-class life feeling out of reach for many, and that struggle is very real rather than merely negatively perceived.

Persons: —, Vincent, he'd, he's, Eoin Sheehan, Chris Collins, Collins, Jessica, they're, Kayla, Primerica, they've, Sheehan Organizations: Service, Business, Pew Research Center, Redfield & Wilton, Federal, Northwestern Mutual's Collins, Northwestern Mutual, Newsweek, National Association of Realtors Locations: Santa Barbara, California, Alabama, Primerica

☆ How Humans Failed Racehorses
▼ + stars: | 2024-05-05 | by ( Joe Drape | ) www.nytimes.com time to read: +1 min

It was a welcome conclusion for the multibillion-dollar sport imperiled by frequent racing fatalities, reckless breeding, dodgy doping practices and the old-fashioned greed of veterinarians, trainers and owners. Last year, 12 horses perished at Churchill Downs in the days surrounding the famous race. Two weeks later, a horse trained by one of the sport’s most recognized trainers died at Pimlico Race Course. Ambulances rumbled onto the track, emergency workers erected privacy screens and, behind them, vets euthanized the horses with injections. All of it put the social acceptability of one of America’s oldest sports at risk.

Persons: Dan, Forever Young Organizations: Sierra, Forever, Kentucky Derby Locations: Sierra Leone, Japan, America’s, Churchill, Saratoga, New York

☆ How Warren Buffett, set to turn 94 this year, is thinking about his age and his business
▼ + stars: | 2024-05-05 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Warren Buffett made several jokes about his age during Saturday's annual shareholder meeting. Buffett will be turning 94 this year and has already made plans for a successor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett is very aware that he won't be at the helm of Berkshire Hathaway forever.

Persons: Warren Buffett, Buffett, —, Berkshire Hathaway Organizations: CNBC, Service, Berkshire Hathaway, Berkshire, Business Locations: Berkshire

☆ These sisters became co-owners of the family farm at 22 and 24, joining the ranks of women as key decision-makers on farms
▼ + stars: | 2024-05-05 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +7 min

Rebekah Alstede Modery, left, and Sarah Alstede, sisters and co-owners of Alstede Farms in Chester, New Jersey. Courtesy: Alstede FarmsSisters Rebekah Alstede Modery and Sarah Alstede were raised on a New Jersey farm. In February, the sisters joined their father, Kurt Alstede, and their stepmother, Mary Thompson-Alstede, as co-owners of Alstede Farms. 'A huge undertaking' as a familyCo-owners of Alstede Farms from left to right: Mary Thompson-Alstede, Rebekah Alstede Modery, Kurt Alstede and Sarah Alstede. Rebekah Alstede Modery, left, and Sarah Alstede, sisters and co-owners of Alstede Farms in Chester, New Jersey.

Persons: Rebekah Alstede Modery, Sarah Alstede, Rebekah, Kurt Alstede, Mary Thompson, It's, Dominique Sims, NASS, Agriculture hasn't, Inwood, Lance Honig, Sarah, that's, Bernt Nelson, Rachel Schattman, Alstede Organizations: Delaware Valley University, CNBC, Centenary University, Alstede, National Agricultural Statistics Service, U.S . Department of Agriculture, The Ohio State University, Agriculture, Agricultural Resource Management, USDA Economic Research Service, American Farm Bureau Federation, University of Maine, Farmers Locations: Chester , New Jersey, New Jersey, Sarah, Agriculture, U.S

☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ Hundreds of Bahraini Political Prisoners Freed in ‘Bittersweet’ Royal Pardon
▼ + stars: | 2024-05-05 | by ( Nazeeha Saeed | Vivian Nereim | ) www.nytimes.com time to read: 1 min

When Naji Fateel was arrested in the aftermath of Bahrain’s Arab Spring uprising, his youngest son, Nidal, was a toddler. Last month, when Mr. Fateel left prison — riding a bus filled with inmates freed by a surprise royal pardon — the Nidal who greeted him was a teenager. Mr. Fateel, 49, a human rights activist, embraced his son and emerged, dazed, into a life forever changed. “It was an indescribable moment,” he said, “the first hug after freedom.”After more than a decade in jail, Mr. Fateel was released in a mass pardon in April that included more than 1,500 prisoners — the largest pardon since the reign of King Hamad bin Isa Al Khalifa of Bahrain began in 1999.

Persons: Naji Fateel, Nidal, Fateel, —, ”, King Hamad bin Isa Al Khalifa Locations: Bahrain

☆ Warren Buffett holds first Berkshire Hathaway meeting without Charlie Munger
▼ + stars: | 2024-05-04 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +3 min

Buffett will appear for the first time without his longtime business partner and friend Charlie Munger, who died in November. In 1978, Munger joined Berkshire Hathaway as vice-chairman and sat by Buffett’s side, quick with a quip or a sage piece of advice. Berkshire’s operating profits are expected to increase by 21% to $6,702 per Class A share, according to the FactSet estimates. Berkshire Hathaway reported a significant uptick in fourth-quarter operating earnings, which totaled $8.5 billion, up from $6.6 billion, or a 28% increase from a year ago. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Warren Buffett, Buffett, Charlie Munger, Greg Abel, Ajit Jain, Munger’s, Munger, ”, “, Charlie, Berkshire Hathaway, “ Charlie, Abel, Greg, ” Buffett, “ Greg Organizations: New, New York CNN, Berkshire Hathaway, Oracle, “, Berkshire Locations: New York, Woodstock, Nebraska, Berkshire, Omaha, “ Berkshire, The Omaha , Nebraska

☆ The Kentucky Derby could be a wet one. Early favorites Fierceness, Sierra Leone have won in the slop
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +3 min

Trainer Todd Pletcher watches as Kentucky Derby entrant Fierceness works out on Kentucky Oaks Stakes Day, one day before the 150th running of the Kentucky Derby, at Churchill Downs in Louisville, KY on Friday, May 03, 2024. It's the 150th Kentucky Derby. Wet weather could benefit six horses that have won in the mud or slop before, including early favorites Fierceness and Sierra Leone. The Kentucky Derby winner earns $3.1 million from the record purse of $5 million. Trainer Todd Pletcher, who saddles Fierceness, is in the Kentucky Derby for the 24th year and it never gets old.

Persons: Todd Pletcher, Fierceness, Dan, John Velazquez, Peter Brandt, Larry Demeritte, Demeritte, Young, Wayne Lukas, Frankie Dettori, He's Organizations: Kentucky Derby, Kentucky Oaks, 150th Kentucky Derby, Society, Saratoga Locations: Kentucky, Churchill Downs, Louisville , KY, Churchill, Sierra Leone, Bahamas, Japan, Italian

☆ Kentucky Derby photo finish: Mystik Dan wins in dramatic 150th anniversary race
▼ + stars: | 2024-05-04 | by ( Homero De La Fuente | Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Mystik Dan has won the 150th running of the Kentucky Derby in a dramatic photo finish at Churchill Downs on Saturday in Louisville. Over the years the Kentucky Derby has seen sporting drama, controversy and has crowned some of the best race horses in history. Unrivalled historyThe first Kentucky Derby was watched by a crowd of 10,000 people who saw three-year-old chestnut colt Aristides, ridden by jockey Oliver Lewis, triumph at Churchill Downs. The race, pictured here in 1978, has been run at Churchill Downs every year since its inauguration. Bob Baffert ban extendedThe 150th edition of the Kentucky Derby was run without arguably the most recognizable name in the sport, Bob Baffert.

Persons: Mystik Dan, Dan, Forever Young, Bob Baffert, Sierra Leone, Brian Hernandez Jr, Rob Carr, ”, Hernandez Jr, Kenny McPeek, Aristides, Oliver Lewis, revel, Charlie Riedel, Medina, Baffert “, Muth Organizations: CNN, Kentucky Derby, Churchill, Sierra, Forever, Triple Crown, Derby, NBC, Jet, AP, Churchill Downs, Churchill Downs Incorporated Locations: Louisville, Sierra Leone, Baltimore , Maryland, Faultless, Churchill Downs, Churchill, Medina, Kentucky

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