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Zilch initially sourced credit for its installment plans and other loans from Goldman Sachs 's private credit arm. The additional $190 million of credit will become available to Zilch as the firm continues to grow. Once Zilch has reaches the $315 million maximum funding threshold, it expects to generate nearly $10 billion of GMV by 2026. The firm reported revenues of £30 million ($38 million) in the 12 months ended March 2023. Zilch also has an advertising sales network where it provides placements for retailers to promote their wares to consumers.
Persons: Phil Belamant, Zilch, it's, Goldman Sachs, Philip Belamant, we've, Goldman, Belamant Organizations: LONDON, Deutsche Bank, Goldman, CNBC, Apple, Citi
For those looking for the hidden hand of politics in what the Supreme Court does, there’s plenty of reason for suspicion on Donald Trump’s as-yet-decided immunity case given its urgency. That eight-week interval is much quicker than the ordinary Supreme Court briefing process, which usually extends for at least 10 weeks. Nearly two months have passed since the justices heard lawyers for the former president and for the special counsel’s office argue the immunity case. The immunity case is not the only big case hanging fire. Some two dozen remain undecided that were argued even before the April 25 oral argument over Mr. Trump’s immunity.
Persons: Donald Trump’s, hasn’t, Trump’s, Trump Organizations: Republican Locations: Colorado
CNN —In what is likely to be his final appearance at Queen’s, Andy Murray earned a hard fought first-round victory over Alexei Popyrin on his 1,000th ATP Tour appearance. If this is to be the final grass court season of his illustrious career, Murray’s 6-3 3-6 6-3 win over world No. “Obviously, during the match, it’s difficult, but great reward at the end for the hard work and effort I put into the match. Alcaraz off to a winning startCarlos Alcaraz celebrates a point against Francisco Cerundolo during their match on Tuesday. “The first match in any tournament is never easy but even more difficult here on grass, starting the grass season,” Alcaraz said, per the ATP.
Persons: Andy Murray, Alexei Popyrin, Murray, Murray’s, It’s, “ I’ve, ” Murray, Jordan Thompson, Holger Rune, Alcaraz, Carlos Alcaraz, Francisco Cerundolo, Zac Goodwin, Argentina’s Francisco Cerundolo, , ” Alcaraz, Jack Draper Organizations: CNN, Wimbledon, Miami, Francisco Locations: Queen’s
Juneteenth is a celebration of that hard-fought Black freedom, observed in honor of June 19, 1865 when slaves in Galveston, Texas, first learned from Union soldiers that they were free. Like my parents growing up in Haiti, she was used to seeing Black people in positions of power. She had freed herself from unjust rules meant to restrict education for Black Americans. Mark Felix/AFP/Getty ImagesIn Haiti, Hurston’s creative powers had the time and freedom to unfurl. As the author of “Barracoon,” a book based on interviews with one of the last enslaved Black Americans, Hurston almost certainly understood the significance of Juneteenth.
Persons: Nadine Pinede, , Nadine Pinede Sophie Kandaouroff, Lincoln, Juneteenth, , Jim Crow, Zora Neale Hurston, Hurston, Lynne Sladky, she’d, Little, Barnard, Langston Hughes, Hurston unapologetically, Zora, Mark Felix, Lucille, Toussaint Louverture, Jean, Jacques Dessalines, Henri Christophe, Alice Walker, Walker Organizations: Scholastic Education, Haiti Noir, CNN, Union, Black, Black American, La Force, Howard University, Barnard College, Harlem Renaissance, verve, Guggenheim Fellowship, Guggenheim, Getty, La, Magazine Locations: Haiti, , Haitian, Galveston , Texas, Africa, Texas, Caribbean, France, United States, Black, American, Eatonville , Florida, Miami , Florida, Little Haiti, Baltimore, Washington, New York City, Jamaica, AFP, Long
AI has “helped me in my life personally … such as helping me with my resume,” Miller told CNN. I really want to see that happen.”On Tuesday, however, OpenAI told CNN it shut down Miller’s access to the tool that was being used to interact with and persuade voters. “We’ve taken action against these uses of our technology for violating our policies against political campaigning,” an OpenAI spokesperson told CNN. Although the public-facing version of VIC has been removed by OpenAI, Miller said it still works on his own ChatGPT account. OpenAI told CNN it also took action against another candidate in the UK who was using its AI models to help campaign for Parliament.
Persons: CNN — Victor Miller, , ” Miller, , OpenAI, “ We’ve, Chuck Gray, ” Gray, Miller, Gray, Steve Endacott, Steve, Endacott, Jen Golbeck, Golbeck, ” David Karpf, ” Karpf, doesn’t Organizations: CNN, Cheyenne, Neural, College of Information Sciences, University of Maryland, George Washington University Locations: Cheyenne , Wyoming, Wyoming, “ Wyoming, Cheyenne, Slovakia
Read previewGarrett Madison has built a career on risking his life to stand atop the world's tallest peaks. Everest, oxygen is scarce. Lack of oxygen causes the body to produce more red blood cells, which carry oxygen from the lungs to the rest of the body. AdvertisementHow you can whip your body into Everest shapeIt's best to train for a high-altitude climb outdoors on hilly terrain. His company, Madison Mountaineering, has even created a training guide that can help whip your body into shape for an Everest-level climbing expedition.
Persons: , Garrett Madison, I'm, Madison, michelangeloop, he's Organizations: Service, Business, Madison, Everest, Madison Mountaineering Locations: Everest, summiting Mt, Lhotse, Nuptse, Madison, Washington
Mr. Meeks said that the sale would take years to deliver and that he supported the Biden administration’s plans to hold up the sale of other munitions. The department declined to comment on the arms orders, including on whether it would soon give that formal notification. Congressional sign-off on arms sales has almost always been a foregone conclusion when it comes to Israel. “I don’t want the kinds of weapons that Israel has to be utilized, to have more death,” Mr. Meeks said in an interview with CNN in April. Both of the top Republicans on those panels, Senator Jim Risch of Idaho and Representative Michael McCaul of Texas, immediately approved.
Persons: Gregory W, Meeks, Mr, Benjamin L, Cardin, Haiyun Jiang, Biden, ” Mr, , , Jim Risch of, Michael McCaul of, Edward Wong Organizations: Biden, Democratic holdouts, Foreign Affairs Committee, White House, National Security Council, Democrat, Foreign Relations, Republicans, The New York, State Department, Hamas, CNN, The State Department, House Foreign Affairs Committee, Senate Armed Services Committee Locations: Israel, New York, Gaza, Maryland, United States, Jim Risch of Idaho, Michael McCaul of Texas
May retail sales rise 0.1%, weaker than expected
  + stars: | 2024-06-18 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
A worker assists with check-out at a Costco store in Teterboro, New Jersey, US, on Wednesday, Feb. 28, 2024. Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation. Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a Commerce Department report Tuesday that is adjusted for seasonality but not inflation. On a year-over-year basis, sales rose 2.3%. The sales number was worse when excluding autos, with a decline of 0.1% against the estimate for a 0.2% increase.
Persons: Dow Jones, Patrick Harker Organizations: Costco, Commerce Department, Federal Reserve, Fed, Philadelphia Fed Locations: Teterboro , New Jersey, US
Read previewPublishers are racing to be known for "premium" content to keep advertising revenue afloat, but there's a swirling debate in the industry over how to define it. AdvertisementFor example, some broadcasters are pitching their streaming content as premium by selling it directly to advertisers without using third-party adtech companies. Broadcasters are gunning for control of streaming ad dollarsAt the same time, TV publishers are angling to define themselves as makers of premium content that appeals to advertisers. Instead of premium content, many advertisers are more concerned with premium audiences who are watching streaming content. Still, Gupta from U of Digital said that broadcasters have the upper hand in deciding what is considered premium content because there is a lack of high-quality content in streaming environments.
Persons: , Max, Critics, Joe Root, Shiv Gupta, Gupta, Permutive's Root, Digital's Gupta, gunning, Rachel Eckerling Organizations: Service, Business, Hulu, Disney, Google, Trade, Association for National, Jounce Media, ANA, Universal, Broadcasters, Publicis, Precision, CTV, Publishers, Industry, Interactive
The healthcare sector's 7% return this year is less than half of the S&P 500's 14.9% gain. At first glance, the lack of interest in healthcare stocks seems justified, given the group's subpar earnings growth. However, the upcoming earnings rebound for healthcare stocks isn't accounted for in valuations. Fortunately for investors, BMO has done that legwork by highlighting a slew of top healthcare stocks in its US model portfolios. Below are the eight outperform-rated healthcare stocks in BMO's model portfolios, along with the ticker, market capitalization, and group or groups that each is in.
Persons: , There's, Brian Belski, Belski Organizations: Service, BMO Capital Markets, Business, BMO, Healthcare, BMO doesn't Locations: Montreal
The House Ethics Committee issued a rare statement on its probe into Matt Gaetz on Tuesday. The panel's looking into whether he sought to obstruct government investigations of his conduct. That's in addition to the existing sexual misconduct claims. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In addition to the long-standing sexual misconduct allegations, the panel said it's now looking into whether the controversial Florida congressman has "sought to obstruct government investigations of his conduct."
Persons: Matt Gaetz, , it's, Gaetz, Kevin McCarthy Organizations: Service, Business Locations: Florida
The task force suggested that extensive and intensive behavioral interventions are the best way to help a child get to a healthy weight. A high BMI for a child is defined a little differently than it is for adults, although both use height and weight to estimate mass. Nearly 20% of children in the US have what’s considered a high BMI. The task force gives its guidelines letter grades based on the most up-to-date science. Under the Affordable Care Act, private insurers must cover preventive services that get a grade of A or B; the new child obesity recommendations got a B grade.
Persons: Susma Vaidya, , , Dr, Mona Sharifi, ” Sharifi, Thomas Robinson, Sarah Armstrong, haven’t, Sharifi, Justin Ryder, Stanley Manne, Robert H, Lurie, “ I’ve, ” Ryder, Wegovy, Alli, Lomaira, John Ruiz, Sanjay Gupta, “ There’s, ” Vaidya, Vaidya, pharmacotherapy Organizations: CNN, US Preventive Services, Force, American Academy of Pediatrics, BMI, US Centers for Disease Control, Affordable, National Hospital, Yale School of Medicine, Stanford Solutions Science Lab, Department of Pediatrics, Pediatrics, Adolescent Health, Duke University Medical School, Stanley Manne Children’s, Ann, Lurie Children’s Hospital of Chicago, University of Arizona, CNN Health, FDA Locations: Washington
Shares of Trump Media & Technology Group dropped more than 13% on Tuesday, continuing the stock's tumble following the conviction of former President Donald Trump, the company's majority shareholder. Trump Media shares, which trade under the ticker "DJT," are down about 40% since May 30, when a New York jury found Trump guilty of 34 felony counts of falsifying business records. But the registration statement notes that holders of Trump Media warrants can exercise them on a "cashless basis" starting Tuesday and until the registration statement becomes effective. The warning comes just weeks after the former president — who uses Truth Social almost exclusively to make his public statements — joined the social media app TikTok. Trump Media & Technology Group disclosed a net loss of $327.6 million and total revenue of $770,500 in the first quarter of the year on its most recent earnings report, filed in May.
Persons: Donald Trump, Trump, Tuesday's, Donald J, Organizations: Trump Media & Technology Group, Trump Media, New, Securities and Exchange Commission, Trump, SEC, Truth Locations: New York, TMTG
The House Ethics Committee issued a rare statement Tuesday on its inquiry into Matt Gaetz. The panel is looking into whether he sought to obstruct government investigations of his conduct. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe House Ethics Committee made clear on Tuesday that it's still investigating Rep. Matt Gaetz. In addition to the long-standing sexual-misconduct allegations, the panel said it's now looking into whether the controversial Florida congressman had "sought to obstruct government investigations of his conduct."
Persons: Matt Gaetz, , it's, Gaetz, Kevin McCarthy Organizations: Service, Business Locations: Florida
Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.
Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America
“In the courtroom we see Donald Trump for who he is. “And a president who is fighting for your family.”For months, Biden and his team refrained from using Trump’s legal woes in their arguments against him. The campaign has leaned into using the verdict as further evidence the former president is unfit for office and has branded him a “convicted felon” in statements. “For the first time in American history, a former president is convicted – a convicted felon. The ad push comes 10 days before Biden and Trump will appear on the debate stage at a CNN studio in Atlanta for the first in-person showdown of the 2024 campaign.
Persons: CNN —, Biden, , , Donald Trump’s, Joe Biden’s, Trump, Donald Trump, He’s, , ” Biden, Barack Obama, “ Trump, Michael Tyler Organizations: CNN, Biden Locations: Manhattan, New York, Connecticut, Los Angeles, Atlanta
China's retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists. However, other economic metrics, such as industrial output and fixed asset investment, missed Reuters forecasts. Industrial output grew by 5.6% year-on-year, compared to the 6% increase expected, while fixed asset investment rose 4% compared to last May, just shy of the 4.2% forecast by the Reuters poll. On the other hand, the miss in fixed asset investment was dragged by a steeper drop in real estate investment. NBS said that excluding real estate, total fixed asset investment was 8.6% higher compared to last May.
Organizations: Reuters, National Bureau, Statistics, NBS Locations: Hangzhou, Zhejiang Province, China
The market has been on a tear in 2024, driven higher by robust corporate earnings and the artificial intelligence boom. Traders expect the Fed to begin easing rates in September at the earliest, according to the CME FedWatch Tool. If inflation is cooling down but the Fed is still expected to keep its key lending rate higher for longer, what does that mean for the stock market? The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction. Do you expect some of the cash that’s on the sidelines to enter the stock market?
Persons: Price, Wall, Bell, Jack Janasiewicz, Jerome, Powell, we’re, it’s, wouldn’t, you’re, Hilary Whiteman, Read, Sam Altman, Steve Wozniak, OpenAI, Altman, Samantha Murphy Kelly, Tim Cook, , Ben Wood, “ Apple, Siri Organizations: CNN Business, Bell, New York CNN, Federal, Nasdaq, Fed, Traders, Solutions, You’re, Apple, Insight, CNN, Apple Intelligence Locations: New York, United States, West Coast, Hawaii, California, San Jose , Los Angeles, San Francisco, San Diego, Honolulu, Australia, Sydney, Melbourne, Victoria, Adelaide, South Australia
The United States Surgeon General, Dr. Vivek Murthy, announced on Monday that he would push for a warning label on social media platforms advising parents that using the platforms might damage adolescents’ mental health. Warning labels — like those that appear on tobacco and alcohol products — are one of the most powerful tools available to the nation’s top health official, but Dr. Murthy cannot unilaterally require them; the action requires approval by Congress. No such legislation has yet been introduced in either chamber. A warning label would send a powerful message to parents “that social media has not been proved safe,” Dr. Murthy wrote in an essay published in The New York Times opinion section on Monday. In his essay, he cast the effects of social media on children and teenagers as a public health risk on par with road fatalities or contaminated food.
Persons: Vivek Murthy, Murthy, Dr Organizations: United, The New York Times
Dr. Vivek Murthy said social media is contributing to a mental health "emergency." He's calling for a Surgeon General's warning label, which would require congressional action. Murthy said parents shouldn't let their kids have social media until after middle school. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US Surgeon General says social media should come with a warning label — similar to the ones that appear on cigarette packs.
Persons: Vivek Murthy, Murthy, shouldn't, Organizations: Service, The New York Times, Business
Bernie Sanders said the CEO of Novo Nordisk will testify on the cost of Ozempic and Wegovy. Lars Jørgensen will appear before the Senate Committee on Health, Education, Labor, and Pensions. Sanders, who chairs the committee, said the hearing would focus on the "outrageously high cost" of the drugs. AdvertisementUS Senator Bernie Sanders has announced that the CEO of Danish drug company Novo Nordisk will testify on the high cost of the weight-loss drugs Ozempic and Wegovy. The hearing will focus on what was described in the press release as the "outrageously high cost" of the drugs, which have soared in popularity over the last year.
Persons: Bernie Sanders, Wegovy, Lars Jørgensen, Sanders, , Ozempic Organizations: Novo Nordisk, Health, Education, Labor, Service, Business Locations: Danish
AI could supercharge offshoring
  + stars: | 2024-06-16 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +11 min
There's another possibility, however: Someone who knows how to use AI — and who's based abroad — will come for your job. AdvertisementAndrew Yeung, a former product lead at Google and Meta, predicted in May that overseas workers who get their AI glow-up will someday take over numerous jobs. And it's not just learning about AI, but learning from AI. AI is also making it cheaper to bring lessons on AI and other topics to people in languages other than English. AdvertisementThe time it took for earlier technologies — including automation and robotics — to rejigger the labor market was longer than what we're seeing with Gen AI, Vincent said.
Persons: , Andrew Yeung, Sagar Khatri, Khatri, Everyone's, Jeff Maggioncalda, Maggioncalda, Coursera, Daron Acemoglu, they're, Acemoglu, Scott Vincent, Vincent, he's, Offshoring, you've, Drew Cesario Organizations: Service, Business, Google, Sagar, Massachusetts Institute of Technology, Philippines . " Workers, Digital Futures, Futures, Cesario Locations: New York, Philippines, Mexico, India, Pakistan, Brazil, Vietnam, Egypt, Japan, Germany, Indonesia
CNN —Germany is marking its first Veterans’ Day since World War Two on Saturday, a once unthinkable move that sets aside long-standing unease over the honoring of its soldiers. “We on the left reject this Veterans’ Day,” he told CNN in a statement. The commemorations, modeled on Armed Forces Day in the UK and Veterans Day in the US, will honor all Germans who have worn military uniform – not only those wounded or killed in combat. But the biggest spur to creating a Veterans’ Day has been Ukraine. He played a prominent role in forming the new Veterans’ Day bill.
Persons: Ates Gürpinar, , , Boris Pistorius, ” Johannes Kiess, Johannes Arlt, Arlt, ” Arlt, Andreas Eggert, ” Eggert, Andreas Eggert “, Pistorius, Stefan Huss Organizations: CNN, Veterans ’, Veterans, Linke, Armed Forces Day, UK, Defense, National People’s Army, Bundeswehr, University of Leipzig, Social Democrats Locations: Germany, , Ukraine, Soviet, East Germany, Kosovo, Afghanistan, Mali, Berlin, Europe
Read previewKate Middleton put on her "game face" for the crowds and cameras at the 2024 Trooping the Colour parade, according to a behavioral and body-language expert. The mother-of-three joined other senior members of the British royal family for all public-facing parts of the ceremony. She was seen arriving at Buckingham Palace with her husband, Prince William, and their children. "Looking at the first photograph of Kate Middleton and Prince William heading to the ceremony together, Kate is using a masking smile. AdvertisementCatherine, Princess of Wales, arrives to Horse Guards Parade for the King's Birthday Parade "Trooping the Colour" in London on June 15, 2024.
Persons: , Kate Middleton, Wales, Prince William, Darren Stanton, Kate, Stanton, Catherine , Princess of, Benjamin Cremel, Prince George, Princess Charlotte, Prince Louis, William, Catherine, Princess of Wales, Justin Tallis, King Organizations: Service, Business, Glass, Horse Guards Parade, Getty, Horse Guards, Glass State Locations: London, Buckingham, Catherine , Princess of Wales, AFP
CNN —With less than two weeks until the first presidential debate of the 2024 election cycle, CNN has released additional details on the parameters agreed upon by the Trump and Biden campaigns. Both candidates agreed to appear at a uniform podium, and their podium positions will be determined by a coin flip. In order to meet CNN’s qualifications for the debate, candidates must satisfy the requirements outlined in Article II, Section 1 of the US Constitution to serve as president. Both Biden and Trump meet those requirements, as do Robert F. Kennedy Jr., Cornel West and Jill Stein, who are running on non-major-party tickets. Though not impossible in Kennedy’s case, it is less likely that candidates other than Biden and Trump will meet those requirements.
Persons: CNN’s Jake Tapper, Dana Bash, Joe Biden, Donald Trump, Robert F, Kennedy Jr, Cornel West, Jill Stein, Trump, Kennedy Organizations: CNN, Trump, Biden, Federal, Commission, ABC News, CBS News, Fox News, Marquette University Law School, Monmouth University, NBC News, The New York Times, Siena College, NPR, PBS, Marist College, Quinnipiac University, The, Street, The Washington Post, Electoral Locations: Atlanta
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