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☆ I'm a single mother who just graduated with a master's degree. My two toddlers helped me survive the chaos.
▼ + stars: | 2024-06-26 | by ( Ke'Yonna Hall | ) www.businessinsider.com time to read: +4 min

I would have never guessed that being single, juggling my career, graduate school, and parenting two toddlers would be stamped on my bingo card. As a single mom of two, every achievement feels even sweeter. Graduating with a Master's of Social Work from the University of Texas at Arlington with two toddlers feels more than a personal achievement. As a first-generation high school and college graduate, I knew obtaining another degree would be challenging. When my children napped, I scheduled work blocks to focus on work calls and client updates.

Persons: It's, we'd, Dory Organizations: Service, University of Texas Locations: Arlington

☆ Denmark to charge $100 per cow in world’s first carbon tax on farming
▼ + stars: | 2024-06-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Dairy farmers in Denmark face having to pay an annual tax of 672 krone ($96) per cow for the planet-heating emissions they generate. The country’s coalition government agreed this week to introduce the world’s first carbon emissions tax on agriculture. On average, Danish dairy cows, which account for much of the cattle population, emit 5.6 tonnes of CO2-equivalent per year, according to Concito, a green think tank in Denmark. Using the lower tax rate of 120 krone results in a charge of 672 krone per cow, or $96. With the tax break in place, that levy will rise to 1,680 krone per cow in 2035 ($241).

Persons: Lars Lokke Rasmussen, “, ”, Torsten Hasforth, Landbrug, Peter Kiær, ” Peder Tuborgh, Kristian Hundeboll Organizations: London CNN — Dairy, ”, United Nations, Food, Agriculture Organization, CNN, Arla Foods, DLG, Initiative Locations: Denmark, Danish, Europe

☆ In South Carolina, 3 G.O.P. Senators Fought an Abortion Ban. They Lost Their Races.
▼ + stars: | 2024-06-26 | by ( Kate Zernike | ) www.nytimes.com time to read: +1 min

Last year, the five self-proclaimed “Sister Senators” from South Carolina were awarded the John F. Kennedy Profile in Courage Award after they joined together across party lines to block the legislature from passing a near-total abortion ban. But a prize from the nation’s most storied Democratic family may not be the best calling card in Republican primaries in the red-state South. All three of the Republican women in the group of five — the others were a Democrat and an independent — faced primary challenges, and all three have now lost. State Senator Katrina Shealy, who was the only female member of the chamber after she won in 2012, failed to win a runoff on Tuesday against the son of a former legislator. The two others lost earlier this month: Penry Gustafson lost by a 64 point margin; Sandy Senn lost by 33 votes, small enough to trigger a recount, but conceded the race before that.

Persons: “, John F, Katrina Shealy, Penry Gustafson, Sandy Senn Organizations: Kennedy, Republican, Democrat Locations: South Carolina

☆ Casa Susanna: How an upstate New York home became a safe haven for trans women in 1960s America
▼ + stars: | 2024-06-26 | by ( Suyin Haynes | ) edition.cnn.com time to read: +11 min

Her name is Susanna Valenti, and her home is Casa Susanna, located in the Catskills, in upstate New York. Pictured above, guests with Susanna Valenti (right) in her wife Marie Tonell's New York City apartment, circa 1960-63. Susanna (right) and two friends are pictured on a swing set at Casa Susanna, circa 1960. In discoveries of other Casa Susanna photographs, multiple copies of the same image have been found. I think people find it somewhere between charming and mind blowing.” Pictured above, guests at Casa Susanna circa 1964-68.

Persons: Susanna Valenti, Casa, Casa Susanna, “ Casa, Valenti, Marie Tonell, Cindy Sherman, Louise Lawrence, Harvey Fierstein’s “, Valentina ”, Sophie Hackett, Marie Tonell's, Susan Stryker, “, ” Stryker, I’ve, ’, ‘, Virginia Prince, Stryker, “ Transvestia ”, Susanna, Lili, Wilma, Prince, Virginia, ”, Susanna Says, Casa Susanna ., Tonell, Gloria, Jessica, Lee Miller, ” Lili, that’s, Hackett, ” Hackett, Transvestia, ” Prince, Transvestia ”, Isabelle Bonnet Organizations: CNN, Art, Ontario’s, First Trans Network, Louise Lawrence Transgender, Casa Susanna, Hudson, Casa, Virginia, of Ontario, Prince Locations: New York, United States, New York City, York City, Los Angeles, America, Casa, Chile, Michigan, Colombian, Thames, Hudson

☆ Why the world is barreling towards a 'food war,' according to one commodity trader
▼ + stars: | 2024-06-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Food wars will rise amid trade barriers and climate risk, Olam Agri's CEO warned. Advertisement"Food wars" are looming over global stability, as trade barriers and the climate crisis strain supply, the head of trading firm Olam Agri warned. We will fight bigger wars over food and water," he said during last week's Redburn Atlantic and Rothschild consumer conference. Though agricultural commodity traders took the blame for rising food costs after Russia's 2022 invasion of Ukraine, the CEO pushed back. Instead, the outbreak of non-tariff trade barriers was likely the chief culprit, with 1,266 curbs proliferating that year.

Persons: —, Sunny Verghese Organizations: Service, The Financial Times, Rothschild Locations: Ukraine

☆ Biden wants to paint Trump as a threat to democracy. But new swing-state polling shows voters think otherwise.
▼ + stars: | 2024-06-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewPresident Joe Biden has staked a major tenet of his reelection campaign on painting former President Donald Trump as one of the biggest political threats to democracy in the US. "We're often not faced with questions of whether the vote we cast will preserve democracy," he said at the time. In a survey conducted by The Washington Post and the Schar School of Policy and Government at George Mason University among registered voters from mid-April to late May, Trump led Biden 44 percent to 33 percent on the democracy issue.

Persons: —, Joe Biden, Donald Trump, Biden, Trump, — Trump Organizations: Service, GOP, Business, Senate, The Washington Post, Schar School of Policy, Government, George Mason University, Biden, White, Trump, Capitol, Republicans

☆ How AI could actually make the hiring process more human
▼ + stars: | 2024-06-26 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

This has taken a major toll on the remaining hiring teams, who must now manage overwhelming workloads. For employers, acknowledging the challenges your hiring teams are grappling with, along with the innovative solutions available to them, can ultimately make the hiring process better for everyone involved. Currently, hiring teams are working under economic uncertainty, making companies more hesitant to make long-term hiring decisions. AI can make hiring more efficient and humanChris Hyams, CEO of Indeed, is optimistic about what AI can do for hiring processes by blending AI capabilities with human judgment. How Indeed employs AI responsiblyIndeed's Smart Sourcing platform is a prime example of using AI responsibly to support, not replace, human decision-making in the hiring process.

Persons: Harris, Chris Hyams, We're, " Hyams, Tony Stark, Hyams, it's Organizations: Harris, Bureau of Labor Statistics, Smart, Insider Studios

☆ Wednesday's analyst calls: Stifel gets bullish on Tesla, FedEx seen rallying 40%, Citi boosts Nvidia
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Stifel opened coverage on Tesla with a buy rating and an ambitious price target as it sees multiple growth opportunities for the company. Crockett also increased his price target by $64 to $260, which now suggests shares can rally 24.4% from Tuesday's closing price. Goldman also hiked his price target by $7 to $52, now reflecting upside potential of 17.7% over Tuesday's close. Analyst Stephen Gengaro initiated the electric vehicle maker at a buy rating with a $265 price target.

Persons: Rosenblatt, Barton Crockett, Crockett, — Alex Harring, Atif Malik, Malik, Blackwell, Wolfe, Robinhood, Steven Chubak, Chubak, Jason Warnick, That's, Keith Gill, Katja Jancic, Jancic, Brian Ossenbeck, Ossenbeck, Campbell, Ken Goldman, hasn't, Goldman, underperformance, Stifel, Stephen Gengaro, Gengaro, Alex Harring Organizations: CNBC, Federal Express, JPMorgan, FedEx, Apple, Apple Intelligence, Android, Meta, Microsoft, Nvidia, Citi, Wolfe Research, . Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Nippon, US, U.S . Steel, CPB, Tesla Locations: Tuesday's, Japan, U.S

☆ With ‘Strands,’ the New York Times has found its next hit game
▼ + stars: | 2024-06-26 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Following the success of Connections and Wordle, the pressure was on for the New York Times to find its next hit game. It “bubbled up as a version of a word search that was true to the New York Times’ games,” Knight said. The Times’ research of its subscribers found that Wordle players also solve word search games, making Strands a natural addition to its lineup. That’s another part of the game, Knight said, because it challenges some people not to use the hints. Times’ Games app lets people play some puzzles, like Wordle and Strands, for free.

Persons: ”, Jonathan Knight, “, ” Knight, Wordle — Tracy Bennett —, Knight, “ There’s, ” Brian Morrissey, ” Morrissey, Growth, “ We’ve, we’re Organizations: New, New York CNN, New York Times, Times ’, Times, CNN, The Times, The, LinkedIn, Hearst, “, ’ Locations: New York

☆ Xi Jinping admits China is 'relatively weak' on innovation and needs more talent to dominate the tech 'battlefield'
▼ + stars: | 2024-06-26 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

China's leader, Xi Jinping, is urging his country's scientists to innovate in the tech sector. He said China's innovation was "still relatively weak," and had a shortage of top talent. 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 . AdvertisementChina's leader, Xi Jinping, made several admissions of the country's shortcomings in its race to become the world's tech powerhouse, saying its innovation is "relatively weak" and that its scientists are overburdened.

Persons: Xi, —, Xi Jinping, Xi's Organizations: Service, Business Locations: Beijing

Atlanta, Georgia CNN —The headwinds facing President Joe Biden’s reelection bid are as apparent in Georgia as any battleground. “President Trump still has to earn these Republican voters,” said Kelvin King, who was among Trump’s most prominent Black supporters in Georgia in 2016 and 2020. “Atlanta rent is way up, food prices soaring to record highs but Biden claims he’s lowering costs. “You know what you’re getting with Joe Biden,” Davis said in an interview in her store, the Beehive. “To me, former President Donald Trump just isn’t an option whatsoever.”The question is whether Singleton stands alone or represents a broader view among young voters.

Persons: Joe Biden’s, Donald Trump, Trump, ”, Kelvin King, he’s, ” King, “, King, “ He’s, denialism —, Brian Kemp, Brad Raffensperger, ” Biden, Biden, who’s, “ We’ve, Keisha Lance Bottoms, “ We’re, aren’t, ‘, –, Democrat Mariama Davis, Joe Biden, ” Davis, He’s, Davis, it’s, battlegrounds Trump, Kamala Harris, ” Harris, “ Young, Kerry Singleton Jr, Singleton, ” Singleton, that’s Organizations: Georgia CNN, CNN, Republican, Trump, US, America, Biden, Democratic, Gov, Atlanta, Georgia, Democrat, Morehouse College Locations: Atlanta, Georgia, Arizona, Nevada, Wisconsin , Michigan, Pennsylvania, Nebraska

☆ Britain looks to upstage France with play for world's third major AI hub after U.S., China
▼ + stars: | 2024-06-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.

Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain

☆ 3 job search strategies for when the market feels impossible, from a career coach: 'Strong relationships are more important than ever'
▼ + stars: | 2024-06-26 | by ( Phoebe Gavin | ) www.cnbc.com time to read: +6 min

Think quality over quantityGiven the realities of the current job market, mentally prepare for a longer job hunt and be proactive about managing your energy. Job seeking is draining, and searches are inevitably going to take longer right now. Pick the right shortcutsCreating first-rate materials is time- and energy-intensive, even if the potential prize is a job you're over the moon for. Let them know you're on the hunt and tell them what you're looking for and why you're a good fit. Let them know you're on the hunt and tell them what you're looking for and why you're a good fit.

Persons: doesn't, aren't, you'll Organizations: Energy, LinkedIn

☆ Here's where U.S. rents are rising — and falling — the fastest
▼ + stars: | 2024-06-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Zumper analyzed median asking rents for apartment listings in the largest 100 U.S. cities by population. Rents have also risen by at least 10% for both one- and two-bedroom apartments in other major metros: Lincoln, Nebraska; Chicago; Buffalo, New York; Madison, Wisconsin; Rochester, New York; and New York City, according to Zumper. What causes rent inflationAt a high level, rent inflation is guided by supply-and-demand dynamics, said Crystal Chen, an analyst who authored the Zumper analysis. Basically, areas with fast-growing rents are seeing demand outstrip the supply of available apartments, while those with falling rents have seen their apartment inventories growing. Rent inflation has fallen substantiallyRent inflation plummeted in the early days of the Covid-19 pandemic.

Persons: Jamie Kelter Davis, Zumper, Crystal Chen, Eric Adams, Fitch, Chen Organizations: Bloomberg, Getty, New, New York City Department of Housing Preservation, Development, Finance, York City Locations: Chicago, U.S, Syracuse , New York, Lincoln , Nebraska, Buffalo , New York, Madison , Wisconsin, Rochester , New York, New York City, Oakland , California, Memphis, Chattanooga , Tennessee, Cincinnati , Ohio, Colorado Springs , Colorado, Irving , Texas, Jacksonville , Florida, Raleigh, Greensboro, Durham , North Carolina, New York, Akron , Ohio, Wichita , Kansas, York

☆ What Rivian's venture with Volkswagen means for the EV maker, broader auto industry
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.

Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China

☆ South Sudan is home to ‘world’s largest land mammal migration.’ War means no one knows about it.
▼ + stars: | 2024-06-25 | by ( Nell Lewis | ) edition.cnn.com time to read: +14 min

Antelopes, hundreds of thousands of them, are crossing the savannas of South Sudan. But a report published today estimates that South Sudan is home to the largest known migration of land mammals on Earth. South Sudan, a country in central Africa, has a varied landscape, from rainforests to lush savannas and swamplands fed by the Nile River (pictured). Marcus Westberg He suspects that the migration’s survival and growth is likely to be linked to the decades of war South Sudan has suffered. South Sudan gained independence from Sudan in 2011 after decades of civil war.

Persons: Marcus Westberg, Mike Fay, ”, Steve Boyes, South Sudan Fay, He’s, “ It’s, Jigar, Fay, ” Fay, “, you’ve, We’ve, “ We’ve, Boyes, Salva Kiir Mayardit Organizations: CNN, Initiative, African Parks, African Parks Network, Parks Network, United Nations, Parks, Rolex, Ministry of Wildlife Locations: South Sudan, Sudan, Africa, African, Ethiopia, South Sudan’s, Juba, “, Tanzania

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Disney, Gap, Ford, Rivian, Apple, Tesla, Uber, Exxon & more
▼ + stars: | 2024-06-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."

Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST

☆ Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
▼ + stars: | 2024-06-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.

Persons: Tesla, —, didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China

☆ 'Every trench' in Ukraine needs a close-range electronic warfare shield against drones and other threats, top official says
▼ + stars: | 2024-06-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewRussia and Ukraine have relied heavily on electronic warfare tactics throughout the conflict, leaning on cheap — but highly effective — technology to interfere with the targeting process of precision strike weapons like attack drones and guided munitions. With the battlefield full of such threats, especially the drones that threaten anything that moves, the need for electronic warfare systems is tremendous. "Different EW tools are needed to conduct strategic missions, but there is also a huge need for so-called 'close-range' EW," Fedorov said. Related storiesClose-range electronic-warfare systems would be particularly useful against enemy drones, specifically the small quadcopters that conduct reconnaissance and strike missions. "You can have the best drone, but what's the sense if it can't fly under electronic warfare?"

Persons: —, Mykhailo Fedorov, we've, Fedorov, Yar, Jose Colon, Doug Bush, Bush, Khrystyna Lutsyk, Nicole Petrucci, Petrucci Organizations: Service, Kyiv, Business, AP, 22nd Infantry Brigade, Anadolu, Getty, 24th Mechanized Brigade, US Space Force, Air & Space Forces Magazine Locations: Russia, Ukraine, Ukrainian, Bakhmut, Donetsk, Kyiv, China

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ Li Qiang warns against ‘vicious cycle’ of China decoupling from the West
▼ + stars: | 2024-06-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN —Chinese Premier Li Qiang has warned against a “vicious cycle” of economic decoupling from the West, as Beijing struggles to contain rising global pushback over soaring electric vehicle (EV) exports. This will “drag countries … into a vicious cycle of scrambling for a cake that becomes smaller and smaller,” Li added. Last month, the Biden administration quadrupled tariffs on EV imports from China, from 25% to 100%, aiming to protect American jobs and manufacturing. Chinese EV sales to the United States are tiny.

Persons: Li Qiang, Li, ”, China’s, Xi Jinping, Biden Organizations: Hong Kong CNN, EV, European Union, Reuters, EU, Global Locations: China, Hong Kong, Beijing, Dalian, Canada, Beijing’s “, United States, European

☆ Perkins, the aging diner chain, has a ‘new vibe’ with a different name
▼ + stars: | 2024-06-25 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +6 min

“We felt this was a more modern, fresh and relevant vibe to start connecting with new consumers, while also servicing our guests that are tried-and-true Perkins loyalists.”A rendering of a new Perkins American Food Co., which will debut later this year. Aria Group and Perkins American Food Co. Aria Group and Perkins American Food Co.“We know that value is so critical right now and we’re very mindful of that,” she said. The firm is investing in the classic American brand that’s been marred with financial issues, including two bankruptcies, following a disastrous 2006 merger with Marie Callender’s. “We really feel that this iteration of ‘Perkins American Food Co.’ is going to marry tradition and innovation and keep us true to who we are,” she said.

Persons: Perkins, Toni Ronayne, “, ” Ronayne, Ronayne, It’s, ”, David Henkes, Baby, Marie Callender’s, “ Perkins, it’s, ‘ Organizations: New, New York CNN —, Perkins, “ Perkins, Food Co, CNN, Perkins American Food Co, Aria, Dine Brands, Baby Boomers, Ascent Hospitality Management, Watch, ‘ Perkins Locations: New York, Orlando , Florida, Cincinnati , Ohio

Many merchants and trade groups including the National Retail Federation opposed the accord, saying card fees would remain too high, while Visa and Mastercard would retain too much control over card transactions. The decision could force Visa and Mastercard to negotiate a settlement more favorable to merchants, or go to trial. Visa and Mastercard said they were disappointed with the outcome. Some U.S. senators have promoted legislation, the Credit Card Competition Act, to let merchants use other payment networks to process Visa and Mastercard transactions. The judge's decision does not affect an earlier $5.6 billion class action swipe fee settlement among Visa, Mastercard and about 12 million merchants.

Persons: Brendan McDermid, Margo Brodie, Brodie, Nilson, Doug Kantor, Jonathan Stempel, Deepa Babington, Leslie Adler Organizations: Mastercard Inc, New York Stock Exchange, REUTERS, Companies, Mastercard, National Retail Federation, Visa, National Association of Convenience Stores, U.S, Merchant Discount Antitrust Litigation, Court, Eastern District of, Thomson Locations: New York City, U.S, Brooklyn, Manhattan, Eastern District, Eastern District of New York, New York

☆ Student-loan borrowers who were set to get debt cancellation or lower payments through Biden's new repayment plan won't get it — for now. Here's what you need to know.
▼ + stars: | 2024-06-25 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Monday's district court rulings were different, but both dealt blows to the SAVE plan. AdvertisementEducation Secretary Miguel Cardona condemned the rulings on Monday, saying in a statement that "the Department of Justice will continue to vigorously defend the SAVE Plan." "While we continue to review these rulings, the SAVE plan still means lower monthly payments for millions of borrowers - including more than 4 million borrowers who owe no payments at all, and protections for borrowers facing runaway interest when they are making their monthly payments," he added. "All of this is to ask why: if these parts of the SAVE Plan promised an irreparable harm to plaintiffs, why didn't they move to enjoin the SAVE Plan before they took effect?" He also said that even without allowing student-loan forgiveness, the other provisions, like lower payments and limited interest accrual, will still provide relief to borrowers.

Persons: —, Joe Biden's, Daniel Crabtree, John Ross, Miguel Cardona, " Cardona, Crabtree, Missouri's Ross, MOHELA, Biden's, Ross, Cardona, Karine Jean, Pierre Organizations: Service, Business, GOP, Department, Justice, SAVE, Republican, Higher, Education Department, Justice Department, White House Press Locations: Kansas, Missouri, Monday's

☆ Saudi Arabia may be forced to reassess megaprojects like Neom
▼ + stars: | 2024-06-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Kingdom's Vision 2030 plans feature several massive construction projects, including the futuristic megacity Neom and an entertainment project on the outskirts of Riyadh. Amine Mati, an assistant director at the IMF and its mission chief for Saudi Arabia, told The FT that Saudi authorities were "recalibrating" to assess whether some spending should be delayed. In public, Saudi has largely been keen to insist that the megaprojects, especially Neom, are on track. Experts previously told BI that Saudi Arabia was struggling to attract the foreign investment needed for the development. Representatives for Neom did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Mohammed Al, Jadaan, Prince Mohammed bin Salman, Neom Organizations: Service, Business, BBC, Saudi, IMF, FT, Public Investment Fund, CNBC Locations: Saudi Arabia, Riyadh

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