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Read previewAmerica's stimulus-fueled shopping spree looks just about over — and lower spending could be a signal that a consumer-led downturn is on the horizon, economic experts say. Retail spending ticked 0.1% higher in May, but sales volume has dropped 1.3% year-over-year over the last three months, US Census data shows. That adds to a 4% decline in retail sales in the first quarter — and it's a strong sign the long-awaited consumer recession is on the horizon, economist David Rosenberg said recently. "Early signs of a consumer recession finally coming to the fore." AdvertisementThe US has 52% chance of slipping into recession by May of next year, according to projections from the New York Fed.
Persons: , David Rosenberg, Stephanie Pomboy, Ian Shepherdson Organizations: Service, Business, McKinsey, Deutsche Bank, Consumer, Federal Reserve, New York Fed, Pantheon Macroeconomics
Dolly McDermott and her mother, Patricia McDermott, were making their way along Surf Avenue on Coney Island shortly after noon on Saturday. They were trying to get to the registration table for Brooklyn’s annual Mermaid Parade, but it was slow going — spectators kept asking them to pose for pictures. The daughter was wearing light-rimmed sunglasses, peach-colored frills, necklaces, bangles, and a foam seashell anchored to her back. Her mother struck a gothic contrast in black and white, with face paint and a full mermaid skeleton running the length of her outfit. “It’s taken us half an hour to walk this far,” the younger Ms. McDermott, an artist and a self-styled “professional eccentric,” said.
Persons: Dolly McDermott, Patricia McDermott, “ It’s, McDermott, Locations: Coney
Heat-related emergency room visits spiked this week in regions of the United States that had been hit the hardest by the heat wave, according to data from the Centers for Disease Control and Prevention. Across swaths of New England, the Midwest and the Mid-Atlantic states, there were “extremely high” rates of heat-related illnesses this week, the C.D.C.’s heat and health tracker showed. The data used emergency room visits associated with the heat to determine the rise in heat-related illnesses, showing which areas had visits that exceeded the 95th percentile of what is typical there. In New England, the number of visits climbed from 57 per 100,000 on Monday, the first day of the heat wave, to 833 on Thursday — the highest rate in the country all week. Caribou, Maine, reached 96 degrees this week, tying the highest temperature ever recorded there.
Organizations: Centers for Disease Control Locations: United States, New England, Midwest, In New England, Boston, Hartford, Conn, Caribou , Maine
How to Alienate a Colleague, One Coffee at a Time
  + stars: | 2024-06-22 | by ( Anna Holmes | ) www.nytimes.com   time to read: +1 min
I hope that I’m able to honor and expand upon the insights she provided over the years. A little bit about me: I’m a writer and an editor and sometimes both at the same time. I’ve been managed by bosses as well as managed employees myself. I understand the challenges and rewards of workplace collaboration and camaraderie and enjoy the solo nature of just sitting in a chair and writing and writing. Right now, in addition to this new gig, I’m working on a book for Crown Publishers about women, power and communication.
Persons: Anna, Roxane Gay, Roxane, I’ve Organizations: New York Times, Crown Publishers
Multiple times each day, President Biden dials up Mike Donilon, a close adviser since the 1980s, to chew on the latest polls and headlines. What do you think?” Mr. Biden will ask Mr. Donilon, who recently left the White House for the campaign’s Delaware headquarters. Once a week, Mr. Biden summons Ron Klain, his former chief of staff, to workshop the best attacks to use against former President Donald J. Trump as the presidential debate draws closer. When he leaves for Delaware on weekends, Mr. Biden seeks out Ted Kaufman, a confidant who represents the president’s ties to the state that introduced him to the national stage more than a half-century ago. It was Mr. Kaufman who was brutally direct with Mr. Biden when a plagiarism scandal threatened his first campaign for president in 1987.
Persons: Biden, Mike Donilon, Mr, Donilon, Ron Klain, Donald J, Trump, Ted Kaufman, Kaufman Organizations: White House Locations: Delaware
The birth of the American mall ushered in an era of “windowless” shopping that’s largely still here. But the sneakiest reason why malls limit windows could be to make shoppers lose track of time. Windowless shopping creates an environment of consumption without distractions,” Flickinger said. The Southdale mall was functional and drab to look at and that is the blueprint that all traditional enclosed malls have continued to follow. Some of these adaptive uses of traditional malls might be creating a practical need for windows after all, she said.
Persons: mallgoers, Burt Flickinger, Bill Peters, ” Flickinger, , Victor Gruen, Gruen, Larry Salzman, Stephanie Cegielski, , Cegielski, ” Alexandra Lange, Lange, Thomas McMillan, ” Lange, Kristin Mueller, Kena Betancur Organizations: New, New York CNN, Strategic Resource Group, CNN, Shoppers, Denver, Getty, Denver Post, , Southdale, Minneapolis –, Gruen Associates, International Council of Shopping Centers, , Sears, Roebuck, of Retailing Studies, Texas, Mays Business School, Energy, Customers, North Locations: New York, Northglenn, Northglenn , Colorado, Minneapolis, Austria, Los Angeles, Edina , Minneapolis, , Framingham , Massachusetts, United States, America, American, East Rutherford , New Jersey, North America
He worked his shift at Pizza Palace in Manhattan’s Inwood neighborhood late Sunday. But the man, Alejandro Ramirez, never got to the stop. He made it only a few blocks before he was fatally shot in the chest. Mr. Ramirez, 45, was one of two people killed in a shooting at West 207th Street and 10th Avenue around 11:40 p.m. on Father’s Day; another Bronx man, Michael James, 44, was fatally shot, in the face and torso. The number of shootings across New York City has dropped compared with last year, but that was little consolation for a neighborhood shaken by the Father’s Day shooting, and for a city girding for summer’s traditional increase in gun violence.
Persons: Alejandro Ramirez, Ramirez, Michael James Organizations: West 207th Street Locations: Manhattan’s Inwood, Bronx, New York City
CNN —Jupiter’s iconic Great Red Spot is a massive storm that has swirled within the atmosphere of the largest planet in the solar system for years. The Great Red Spot is a massive vortex within Jupiter’s atmosphere that is about 10,159 miles (16,350 kilometers) wide, which is similar to Earth’s diameter, according to NASA. Vincenzo Pinto/AFP/Getty ImagesWhile the first two scenarios resulted in cyclones, they differed in shape and other characteristics witnessed in the Great Red Spot. But the researchers believe that the persistent atmospheric storm cell, which resulted from intense wind instability, produced the Great Red Spot. Previous research, published in March 2018, has shown that the Great Red Spot is growing taller as it shrinks in size overall.
Persons: Giovanni Domenico Cassini, Ann Ronan, Cassini, , Agustín Sánchez, Lavega, , updrafts, Donato Creti, Vincenzo Pinto, Michael Wong, ” Wong Organizations: CNN, Research, NASA, University of, Visitors, Vatican Museum, University of California Locations: Italian, Basque, Bilbao, Spain, AFP, Berkeley
CNN —The International Committee of the Red Cross (ICRC) says at least 22 people were killed in a strike that hit civilians sheltering in southern Gaza on Friday. The strike hit the tents of displaced people in the Palestinian town of Mawasi, parts of which have been identified by the Israeli military as a humanitarian zone. Following the strike, a nearby Red Cross field hospital received 22 bodies and 45 injured, the ICRC said. The Gaza Ministry of Health said that 25 people were killed and 50 wounded in the attack. The Israeli military said the incident was under review but initial inquiries found “no indication” it was behind the strike in Mawasi.
Persons: Cross, Israel, Abed Rahim Khatib, Raed, Nims, , Khan Younis, ” Mohammed Al, Bashar Taleb, General Antonio Guterres, Guterres, Organizations: CNN, International Committee, ICRC, Palestine Red Crescent Society, Gaza Ministry, Health, Anadolu, Israel Defence Forces, Civil Defense, Getty, Ministry of Health, UN Locations: Gaza, Palestinian, Mawasi, Israel, Rafah, Palestine, , Egypt
Learn moreThe 2024 Men's College World Series is about to crown a new baseball champion, and you can watch all of the action from home. Keep reading to learn how to watch the Men's College World Series Championship to see whether Tennessee or Texas A&M will walk away the victor. The Men's College World Series kicked off on June 14 in Omaha and has steadily whittled down to two teams. How to watch the Men's College World Series in the USGame 1 will air on Saturday at 7:30 p.m. See at ESPNIf you're looking for a little more of an elaborate live TV streaming option, you can try out Sling TV or Fubo.
Persons: There's, ExpressVPN Organizations: Business, Men's, LSU, Tennessee, Texas, ESPN, ABC, MLB, NHL, NFL, UFC, Hulu, Disney Plus Locations: Tennessee, Texas, Omaha, North Carolina
The Vexing Problem of the ‘Medium Friend’
  + stars: | 2024-06-22 | by ( Lisa Miller | ) www.nytimes.com   time to read: +2 min
My friend R. once went a step further. Call them the “medium friends.”As an example, R. told me about a certain friend. R. simply did not feel as connected to this friend as he once did. And so, without malevolence or even conscious intent, he shuffled her down in his personal friend deck. But we’re just not that kind of friend.
Persons: , , Emily Langan, I’m, we’re Organizations: Wheaton College
OpenAI cofounder Ilya Sutskever left his company in May after a failed attempt to oust Sam Altman. He announced on June 19 that he would start a new AI project called "Safe Superintellgence Inc."Nvidia CEO Jensen Huang said Sutskever's past work sparked the "big bang of deep learning." 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 . AdvertisementNvidia CEO Jensen Huang had high praise for Ilya Sutskever, the OpenAI cofounder who left his company after a chaotic attempt to oust its chief executive, Sam Altman.
Persons: Ilya Sutskever, Sam Altman, Jensen Huang, Organizations: Inc, Nvidia, Service, California Institute of Technology, CNN, Business
“I said, ‘Dana, I have an idea: Why don’t you set up a migrant league of fighters and have your regular league of fighters. And then you have the champion of your league — these are the greatest fighters in the world — fight the champion of the migrants. At his campaign rallies, he spotlights violent crimes committed by undocumented immigrants as he bashes Biden’s handling of security at the border. As president, Trump took steps to curb both illegal and legal immigration, targeting visa programs and seeking to restrict refugee resettlements. During his 2024 campaign, Trump has vowed to carry out the “largest domestic deportation operation in American history” to combat what he claims is an “invasion of our country.”
Persons: Donald Trump, , Dana White, , ‘ Dana, Trump, it’s, I’ve, Joe Biden’s, Sarafina Chitika, ” Trump, White supremacists, Biden, Adolf Hitler, Mein Organizations: CNN, UFC Locations: Washington, Mexico, Ohio
I met Miranda 16 years ago on a social networking website called Bebo; before Instagram and Tiktok, this is where many teens spent their time online. I lived in the Eastern Cape of South Africa, and Miranda lived in Virginia, US. We grew together, even thousands of miles apartI was 13 years old, and Miranda was 12 years old, and we were at the crux of growing up. AdvertisementMeeting Miranda for the first time felt like reuniting with an old friend. We talked like we had physically been in each other's lives for 16 years, not separated by thousands of miles.
Persons: , Miranda, Demi, Booth, I've, I'd Organizations: Service, Business Locations: Eastern, South Africa, Virginia, United States, New York
CNN —Taylor Swift brought her Eras Tour to London’s Wembley Stadium on Friday with some famous faces in the audience, including the Prince of Wales and two of his children, Prince George and Princess Charlotte. William, who was celebrating his 42nd birthday that day, and the children later met Swift and her boyfriend, NFL star Travis Kelce backstage. The official @KensingtonRoyal account posted a photo of Swift taking a selfie with Prince William, Princess Charlotte, and Prince George. Taylor Swift shared a photo with Prince William, Prince George, Princess Charlotte and Travis Kelce, at Swift’s concert in London on June 21. According to the Mayor of London, nearly 700,000 people are expected to attend her London shows, which are predicted to boost the capital’s economy by £300 million ($379.5 million USD).
Persons: CNN — Taylor Swift, Prince, Wales, Prince George, Princess Charlotte, William, Swift, Travis Kelce, Prince William, , , Taylor Swift, Prince George , Princess Charlotte, Instagram Swift, Nicola Coughlan, Cara Delevingne, Salma Hayek, Leslie Mann, Jonathan Van Ness Organizations: CNN, Wembley, PA Media Locations: London
But, in some cases, you could withdraw from the account and incur zero capital gains tax if you remain within the IRS's specified income brackets, he noted. This means that if you're filing jointly, your income can be as much as $123,250 in 2024 — $29,200 income in tax-free income thanks to the standard deduction plus $94,050 in qualified investment income — and still pay 0% capital gains tax if you have no other income source, Hook noted. If your brokerage account allows you to sell by lots, you can select which shares to sell based on the capital gains they have accumulated, he added. This would allow you to withdraw more while keeping your capital gains low. State income tax rates aren't impacted and will vary depending on where you live.
Persons: Jeremy Schneider, wouldn't, Schneider hasn't, Schneider, Howard Hook, Hook, LIFO, that's Organizations: Service, CFP, CPA, IRS, Social Security
A few months ago, President Biden seemed so fed up as Prime Minister Benjamin Netanyahu of Israel ignored his calls for restraint in Gaza that he finally sounded tough. In March, Biden was asked if his calls for Israel not to invade the southern Gaza city of Rafah marked a “red line,” meaning that an invasion would lead to serious consequences. “It is a red line,” Biden said, “but I’m never gonna leave Israel.”What that added up to wasn’t clear, perhaps not even to Biden. But as someone who generally admires Biden’s foreign policy, I wanted to think that the president meant that an Israeli invasion of Rafah would lead to a suspension of transfers of offensive weapons, but no interruption of defensive weapons such as protections against incoming missiles. Then in April, Biden called Netanyahu and seemed again to draw a line that was at least pink.
Persons: Biden, Benjamin Netanyahu, Israel, ” Biden, I’m, Netanyahu, , Locations: Gaza, Israel, Rafah
A Swiss court convicted four members of the UK's richest family of exploiting staff at their Geneva villa. The family was given sentences ranging from four to four-and-a-half years. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Swiss court has convicted four members of the UK's richest family of exploiting staff at their Geneva mansion. They were given sentences ranging from four to four-and-a-half years, the report said.
Persons: , Prakash Hinduja, Kamal, Ajay, Namrata Organizations: Service, BBC, Business Locations: Geneva
Generative AI has become the leading conversation topic at the world's premiere consulting firms. "How do we actually inject gen AI and AI thinking into ways of doing business?" The launch of ChatGPT marked an inflection point for McKinsey's work on generative AI. He added that McKinsey has worked on roughly 400 generative AI projects in the last six months. McKinsey's work helps the young startup "build trust" among more organizations, Cohere's founder and CEO Aidan Gomez told Business Insider.
Persons: It's, Ben Ellencweig, Ellencweig, they're, it's, Aidan Gomez Organizations: Service, McKinsey & Company, McKinsey, Business Locations: India, Brazil, United States, Israel
CNN —Forty-two people have been killed or left missing after two strikes in central Gaza on Saturday, according to the Hamas-controlled Government Media Office. The Director of the Media Office, Ismail Al-Thawabtah, told CNN that the strikes had occurred at Al Shati camp and in the nearby Al Tuffah neighborhood. The Civil Defense Directorate said 19 bodies had been retrieved after the strike in Al Tuffah, where more than 35 people were injured. The other strike was against a residential block in Al Shati, also near Gaza City. Israel launched its offensive in Gaza following the Hamas attacks of October 7, which killed around 1,200 people.
Persons: Ismail Al, Al Shati, Ayman Al Hassi, Cross, Khader Organizations: CNN, Media Office, Civil Defense, Israel Defense Forces, IDF, International Committee, Ministry of Health Locations: Gaza, Al Shati, Al Tuffah, Gaza City, Al, Palestinian, Mawasi, Israel, Rafah, Wafa
Karim al-Masri was supposed to start his final exams on Saturday morning, just a few weeks shy of graduating. Instead, he spent his morning filling bags of water to freeze into ice, which he sold to support his family. “I should have been studying and preparing for my final exams,” said Mr. al-Masri, 18. The war has devastated Gaza’s education system which was already struggling after several wars and escalations since 2008. All of Gaza’s 12 universities have been severely damaged or destroyed by fighting, according to the United Nations.
Persons: Karim al, Masri, , , Mr Organizations: Palestinian Education Ministry, Islamic, of Gaza, University College of Applied Sciences —, United Nations Locations: Gaza, Jordan
Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.
Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China
“Can I ask you something?” he said when invited to justify Cristiano Ronaldo’s continued selection in Portugal’s starting XI. If Ronaldo doesn’t score, what else does he bring to the team apart from the histrionic gesturing of a frustrated traffic warden? “Do you know how many minutes Ronaldo played last season?” Martinez knowingly queried. Cristiano Ronaldo and Joao Cancelo were all smiles moments after the captain had been furious with his team-mate (Friso Gentsch/Picture Alliance via Getty Images)Pitch invaders marked Ronaldo closer than Turkey’s ragged centre-backs. “You can understand it was a difficult moment — if those intentions are wrong, the players are exposed and in danger.
Persons: Roberto Martinez, , Cristiano Ronaldo’s, Ronaldo doesn’t, He’s, Arda Guler, Ronaldo, ” Martinez, Cristiano, , Fernando Santos, Goncalo Ramos, Conceicao’s, didn’t, Nuno Mendes, Bernardo Silva’s, Orkun, Joao Cancelo, Cristiano Ronaldo, Friso, Bernardo, Ruben Neves, Bruno Fernandes, Fernandes, Martinez, Fernandes ’, Will, Ramos, Germain, it’s, You’re, he’ll, Etsuo Hara Organizations: Saudi Pro League, Turkey’s, Georgia, Turkey, Portugal, Getty, Altay Bayindir, North, Portugal’s, Ronaldo, Paris Saint, selfies Locations: Portugal’s, Czech Republic, Leipzig, Portugal, Dortmund, Germany, Switzerland, Qatar, North Macedonia, Hamburg, Paris
Piping Up at the Gates of Dawn
  + stars: | 2024-06-22 | by ( Dennis Overbye | ) www.nytimes.com   time to read: +1 min
Since the James Webb Space Telescope began operating two years ago, astronomers have been using it to leapfrog one another millions of years into the past, back toward the moment they call cosmic dawn, when the first stars and galaxies were formed. Last month, an international team doing research as the JWST Advanced Deep Extragalactic Survey, or JADES, said it had identified the earliest, most distant galaxy yet found — a banana-shaped blob of color measuring 1,600 light-years across. It was already shining with intense starlight when the universe was in its relative infancy, at only 290 million years old, the astronomers said. The new galaxy, known as JADES-GS-z14-0, is one of a string of Webb discoveries, including early galaxies and black holes, that challenge conventional models of how the first stars and galaxies formed. “This discovery proves that luminous galaxies were already in place 300 million years after the Big Bang and are more common than what was expected,” the researchers wrote in a paper posted to an online physics archive.
Persons: James Webb, Webb Organizations: James Webb Space Telescope
The same could not be said for their sprawling entertainment businesses. The three men meet occasionally to discuss the state of the industry, and lively disagreements have a been a staple of their discussions. But by the time they met on the yacht, they had all agreed that the money-losing status quo in the streaming business was unsustainable. “There was peace in the valley for a period of time,” Mr. Malone mused in a rare recent interview, recalling the days before video-streaming upended the lucrative cable business. Disney laid off thousands of workers and pushed out its chief executive as streaming losses mounted, and had to fend off a proxy contest from the activist investor Nelson Peltz.
Persons: Brian Roberts, John Malone, Barry Diller, Diller’s, ” Mr, Malone, Nelson Peltz Organizations: Mr, Arriva, Paramount, CBS, Warner Bros, Disney Locations: Jupiter, Fla
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