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☆ Trump Media stock jumps 20%, breaking weekslong decline in DJT share price
▼ + stars: | 2024-06-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Shares of Trump Media soared more than 20% on Monday morning, as the firm majority-owned by former President Donald Trump sought to bounce back from a weekslong plunge that cut the stock price nearly in half. Trump Media, which trades as DJT on the Nasdaq, was trading around $33 a share on much higher than average volume as of 10:50 a.m. Shares of Trump Media sunk even lower last week, after its registration of additional shares was declared effective by the Securities and Exchange Commission. Trump posts almost exclusively on Truth Social, the microblogging social media platform that is Trump Media's sole product to date. But Trump in early June joined the social media behemoth TikTok, whose traffic dwarfs that of Truth Social.

Persons: Donald Trump, Trump, TikTok Organizations: Trump Media, Nasdaq, Truth, Securities and Exchange Commission, Trump Locations: Warsaw, Poland, York

☆ Fake Signatures and ‘Good-Faith Letters’ Fuel a Lucrative Campaign Haul
▼ + stars: | 2024-06-24 | by ( Jay Root | Bianca Pallaro | ) www.nytimes.com time to read: +1 min

When an unheralded candidate for the State Assembly submitted a six-figure request for matching funds under New York’s new public campaign finance system, it came with glaring red flags. Of nearly 300 contribution cards turned in by the candidate, Dao Yin, only nine had donors’ phone numbers or email addresses as required under the system’s guidelines. But in April, the board threw Mr. Yin a lifeline, allowing him to submit copies of “good-faith letters,” documenting his supposed attempt to obtain the missing information from the donors. The board soon sent him $162,800 in matching campaign funds, the eighth-highest amount awarded to a State Assembly candidate running this year. The board said no other state candidate has used the good-faith letters; neither Mr. Yin nor regulators provided any evidence that he had sent them to any of the donors in question.

Persons: Dao Yin, Yin’s, Yin Organizations: State Assembly, New, Campaign Finance Board, The New York Times, Assembly

☆ Opinion | Jamaal Bowman’s Political Malpractice
▼ + stars: | 2024-06-24 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +3 min

Now Israel’s champions, many of whom have never been comfortable with Bowman, are striking back, capitalizing on a political environment transformed by Oct. 7. Bowman’s challenger is the Westchester County executive, George Latimer, who refuses to criticize Prime Minister Benjamin Netanyahu of Israel, putting Latimer not just to Bowman’s right but also to the right of President Biden and Senator Chuck Schumer, the majority leader. I think Sanders was exaggerating, but the contest is probably the most important congressional primary this year. It’s setting a precedent for big money interference in local politics and tearing at the longtime progressive alliance between Black people and Jews. There is something deeply admirable about his refusal to subordinate his values to political expediency.

Persons: Jamaal Bowman, Bowman, Eliot Engel, George Latimer, Benjamin Netanyahu, Israel, Latimer, Biden, Chuck Schumer, Emerson, —, Bernie Sanders, Sanders, Hamas’s, he’s Organizations: Democrat, Westchester County, American Israel Public Affairs Committee’s, Israel Locations: New York’s, Israel, Westchester, Vermont, Black, Bronx, America, Gaza

☆ A return to the roots of presidential debates
▼ + stars: | 2024-06-24 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +10 min

CNN —CNN’s presidential debate will feel like something new for most Americans, but it is actually a return to the roots of presidential debates. J. David Ake/AFP/Getty Images Monica Moorehead, a presidential candidate from the Workers World Party, disrupts a presidential debate in Washington, DC, in 1996. Gerald Herbert/AP Barack Obama, right, and John McCain shake hands at the start of a presidential debate in 2008. Joseph Kaczmarek/AP Obama hugs his wife, Michelle, as Romney kisses his wife, Ann, after their third presidential debate in 2012. Ultimately, the commission was formed to create a nonpartisan framework for presidential debates – something that has been exported to other countries.

Persons: CNN —, Joe Biden, Donald Trump, Jake Tapper, Dana Bash, Sen, John F, Kennedy, Richard Nixon, Nixon, Howard K, Smith, Jimmy Carter, Gerald Ford, Carter, Jerry Mosey, Betty, David Hume Kennerly, John B, Ronald Reagan, Anderson, AP Carter, Reagan, Walter Mondale, George H.W, Bush, Michael Dukakis, Dennis Cook, Ross Perot, Bill Clinton, Clinton, Ron Edmonds, AP Clinton, Bob Dole, J, David Ake, Monica Moorehead, Joe Marquette, Mark Penn, Lorenzo Alvarez, Angelica, George W, Al Gore, Joe Raedle, Jim Lehrer, Gore, John Kerry, Gerald Herbert, Barack Obama, John McCain, Charles Dharapak, Obama, Mary Jackson's, Mitt Romney, Joseph Kaczmarek, Michelle, Romney, Ann, David Goldman, Hillary Clinton, Patrick Semansky, Salwan Georges, Biden, Chip Somodevilla, Alan Schroeder, ” Kennedy, Schroeder, “, Ford, John Anderson, sidestep, Trump, ” Schroeder, Abraham Lincoln, Stephen Douglas, Douglas, Read, haven’t, “ They’re, ” Organizations: CNN, Commission, CNN’s Atlanta, CBS, Getty, State University of New, Ford, Anderson, Cleveland Convention Center, AP, Music, Bettmann, Bushnell, Theater, Workers World Party, AP Workers, Hofstra University, AP Trump, Washington Post, Trump, Northeastern University, House, Republican, Republican National Convention, Biden, Lincoln, White, Illinois Senate, ABC News Locations: Los Angeles, New York, State University of New York, Albany, Cleveland, Hartford , Connecticut, Washington , DC, San Diego, El Paso , Texas, Hempstead , New York, Detroit, Soviet Union, Eastern Europe, Lincoln, Illinois

☆ Music labels sue AI companies Suno, Udio for U.S. copyright infringement
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +2 min

Major record labels Sony Music , Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels' recordings to train music-generating AI systems. The companies copied music without permission to teach their systems to create music that will "directly compete with, cheapen, and ultimately drown out" human artists' work, according to federal lawsuits filed against Udio in New York and Suno in Massachusetts. Representatives for Suno and Udio did not immediately respond to requests for comment on the complaints. AI companies have argued that their systems make fair use of copyrighted material. Cambridge, Massachusetts-based Suno and New York-based Udio have raised millions in funding this year for their AI systems, which create music in response to user text prompts.

Persons: Udio, Mariah Carey's, James Brown's, Michael Jackson, Bruce Springsteen, Mitch Glazier Organizations: Sony Music, Universal Music Group, Warner Records, Udio, Suno, Recording Industry Association of America Locations: New York, Suno, Massachusetts, Cambridge , Massachusetts

☆ Science of social media’s effect on mental health isn’t as clear cut as a warning label might suggest
▼ + stars: | 2024-06-24 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +9 min

Authors of a sweeping new review of research into social media and mental health say there’s still key information missing to know whether prevention programs and interventions will work. In the study, published Monday in the medical journal JAMA Pediatrics, researchers reviewed nearly 150 studies on the relationship between social media and the mental health of adolescents. For Murthy, the urgency of the youth mental health crisis is dominant — and there’s enough evidence to act now. “There are certain benefits, but getting some benefits does not justify forcing kids to endure significant harm.”Still, social media is not the same as cigarettes. “To be clear, a warning label would not, on its own, make social media safe for young people,” he wrote.

Persons: Vivek Murthy, There’s, ”, Sandro Galea, Murthy, ” Murthy, ” Galea, “, Pamela Wisniewski, Jenny Radesky, Dr, Sanjay Gupta, ” Radesky Organizations: CNN, University of Cambridge, Stellenbosch University, National Academies of Sciences, Engineering, Medicine, National Academies, Boston University School of Public Health, New York Times, Vanderbilt University, American Academy of Pediatrics, Excellence, Social Media, Mental Health, CNN Health, ” Locations: United Kingdom, South Africa

☆ Affordable luxury: Price-conscious Americans are turning to cheaper steakhouses
▼ + stars: | 2024-06-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

So business is booming at Texas Roadhouse and LongHorn Steakhouse, even as Americans pull back elsewhere. And in the three months through May 26, sales at Longhorn Steakhouse locations open at least 16 months rose 4%. An affordable luxuryWhen it comes to steakhouses, Texas Roadhouse and LongHorn Steakhouse are on the cheaper end, noted Jim Salera, a research analyst at Stephens. Patrons sit at a bar and watch sports at a Texas Roadhouse restaurant in November 2023. “Retail demand has been probably a little bit weaker,” said Michael Bailen, senior director of investor relations at Texas Roadhouse.

Persons: Texas, ”, Jim Salera, Salera, you’re, Peter Saleh, They’ve, Scott Olson, Saleh, Rick Cardenas, It’s, Michael Bailen, ” Bailen, “, ’ Organizations: New, New York CNN, Texas, Texas Roadhouse, LongHorn, Longhorn, Darden Restaurants, steakhouses , Texas Roadhouse, Stephens, of America, CNN, Bureau of Labor Statistics, Kroger Locations: New York, Texas, Olive, steakhouses , Texas, Skokie , Illinois, . Texas

☆ Democrats aren't shying away from abortion talk this election — they're capitalizing on it
▼ + stars: | 2024-06-24 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDemocrats are putting abortion — a topic they've historically downplayed — front and center this election. The debate is no longer just about abortion — it's become about pregnancy itself and access to life-saving medical care. AdvertisementDemocrats know the issue could be a turning point for independent voters and even some Republicans, and they're using it to their advantage. He's hoping that the issue of abortion can turn Florida blue this fall, and he's repeatedly promised to restore Roe.

Persons: —, Roe, Wade, Annie Lentz, " Lentz, — it's, Dobbs, Joe Biden, He's, he's Organizations: Service, Democratic Senatorial, Republican, Business, Democratic, Republicans, Senate Democrats, Pew Research Center, Gallup, —, New York Times, Democrats Locations: Arizona, Florida , Maryland , Michigan, Montana , Nevada , Ohio, Pennsylvania, Texas, Wisconsin, Florida

☆ Who Will Win the Debate Between Biden and Trump? Here’s How to Tell. - The New York Times
▼ + stars: | 2024-06-24 | by ( Frank Luntz | ) www.nytimes.com time to read: +2 min

I’ve learned this from studying American reactions to almost every general election presidential debate since 1992. Yet those things often have little to no discernible impact on the opinions of many people watching at home. To be fair, some of the debates I watched with voters, like Bill Clinton and Bob Dole’s in 1996, had no major impact on the electorate’s mood. Others — like the three-way town hall debate with Mr. Clinton, George H.W. Bush and Ross Perot in 1992 and the first George W. Bush-Al Gore debate in 2000 and the three Donald Trump-Hillary Clinton collisions — arguably changed history.

Persons: I’ve, Bill Clinton, Bob Dole’s, Clinton, George H.W, Bush, Ross Perot, George W, Al Gore, Donald Trump, Hillary Clinton, Biden, Trump, Ronald Reagan’s “, Barack Obama Organizations: Viewers, Mr

☆ I tried Il Mulino's prix-fixe weeknight dinner for $60. The upscale Italian chain's meal was delicious with a few downsides.
▼ + stars: | 2024-06-24 | by ( Steven John | ) www.businessinsider.com time to read: +1 min

I went to Il Mulino for the first time to try the upscale Italian chain's prix-fixe dinner. 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 . AdvertisementWhen I entered the Il Mulino on Long Island, I was shocked by just how quiet it was. The upscale Italian chain is located right next to a major thoroughfare, and I went to dine at the height of rush hour.

Persons: Il Mulino, should've, — Organizations: Service, Business Locations: Long, Greenwich, New York, New York , New Jersey, Florida

☆ Hooters closes dozens of restaurants
▼ + stars: | 2024-06-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Hooters is the latest chain to close dozens of locations across the United States, blaming tough economic challenges including rising food and labor costs. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” a spokesperson told CNN. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. It’s not just Hooters feeling the financial brunt from cash-conscious customers: Applebee’s, TGI Fridays, Boston Market, California Pizza Kitchen and bankrupt Red Lobster have all recently closed restaurants.

Persons: Danielle Wiener, Bronner Organizations: New, New York CNN, Hooters, CNN, Bureau of Labor Statistics, Boston Locations: New York, United States, Florida , Kentucky, Rhode Island , Texas, Virginia, Boston Market, California

☆ Venture firms could be the latest target for AI disruption, and that's not the only threat to VCs
▼ + stars: | 2024-06-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .

Persons: —, VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago

☆ He Stole From His Tech Boss and Killed Him to Conceal the Crime
▼ + stars: | 2024-06-24 | by ( Maia Coleman | ) www.nytimes.com time to read: +1 min

Just days after the body of Fahim Saleh, a successful tech entrepreneur, was found dismembered in his luxury condomiumium in Manhattan in July 2020, his former personal assistant, Tyrese Haspil, made a series of unsettling web searches. “Fahim Saleh.” “Murder of tech C.E.O. in New York.” “Dismembered body.”The search queries were just some of the chilling details that emerged during Mr. Haspil’s murder trial this month in Manhattan Criminal Court. And on Monday jurors convicted him of stealing hundreds of thousands of dollars from Mr. Saleh — and then killing him and cutting up his body in an effort to conceal what he had done. Mr. Haspil, 25, of Brookyn, is expected to be sentenced on Sept. 10.

Persons: Fahim Saleh, Tyrese Haspil, “ Fahim Saleh, ”, Haspil’s, Saleh —, Haspil, “ Tyrese Haspil, Alvin L, Bragg, “, Saleh’s, Mr, Saleh Organizations: Manhattan Criminal Locations: Manhattan, New York, Brookyn, Saudi Arabia, Poughkeepsie, N.Y, Bangladesh, Nigeria

☆ Hamas Skimmed $1 Billion in U.N. Aid for Weapons and Tunnels, Suit Says
▼ + stars: | 2024-06-24 | by ( Ken Belson | Katherine Rosman | ) www.nytimes.com time to read: +1 min

For years, the United Nations Relief and Works Agency sent millions of dollars each month to Gaza to pay employees and support hospitals, schools and other infrastructure, according to a new lawsuit. About 100 Israeli plaintiffs — including at least one who was held hostage by Hamas in Gaza, others who survived the attack, as well as the estates of some who died — are seeking unspecified financial damages. They claim that UNRWA is liable because it helped fund Hamas, which the United States and other countries deem a terrorist organization. UNRWA has been sued several times since the attacks, with some cases claiming that the agency has abetted Hamas and others attempting to cut off UNRWA’s funding. The case filed on Monday goes further, describing how the plaintiffs believe agency money ended up in the hands of Hamas and how the terrorists used its resources in the attack on Israel.

Persons: — Organizations: United Nations Relief, Works Agency, West Bank, UNRWA Locations: Gaza, New York, Israel, Manhattan, United States

☆ Barcelona plans to ban short-term rentals as cities rethink the Airbnb effect
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewBarcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market. By 2029, no homes will be allowed to operate as short-term tourist accommodations. AdvertisementGlobal short-term rental restrictionsOther cities are similarly eyeing short-term rental restrictions to manage skyrocketing housing costs in what's been deemed the "Airbnb effect." Cities including Vancouver, Tokyo, London, Amsterdam, and Paris have all placed restrictions on the short-term rental market. Some Southeast Asian countries have banned short-term rentals completely.

Persons: —, Jaume Collboni, Collboni, Airbnb, Damià Calvet, Calvet, Enrique Alcantara Organizations: Service, Business, Spanish, Government, EU, Barcelona Tourist Apartments Association, Estate Economics Locations: Barcelona, Spanish, Madrid, what's, Irvine , California, New York City, Cities, Vancouver, Tokyo, London, Amsterdam, Paris, Singapore, Thailand, Irvine

☆ For One Night Only, Paris Is Vogue’s (Disney)World
▼ + stars: | 2024-06-24 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +2 min

Barnum meeting Florenz Ziegfeld and together they hatch a fashion show, and you’ll get the idea. Like the Met Gala, Vogue World, which was previously held in New York and London, is a live expression of Vogue’s power and an effort to position the magazine as an arbiter of influence, culture and people. Like the Met’s annual fund-raiser, it involves great eye candy, in terms of both clothes and celebrity. Unlike the Met, however, anyone who can afford a ticket, or wants to watch the livestream from afar, can get inside. Can be part, that is to say, of Vogue’s world.

Persons: Anna Wintour, Condé Nast, Barnum, Florenz Ziegfeld, you’ll, nob, Emma Chamberlain, Selma Blair, Russell Westbrook, Ms, Wintour, John Galliano —, —, Pharrell Williams, Louis Vuitton Organizations: Vogue, Ritz Locations: Paris, New York, London

☆ Will Lewis Says He Helped Hacking Investigation. Scotland Yard Had Doubts.
▼ + stars: | 2024-06-24 | by ( Jo Becker | Justin Scheck | ) www.nytimes.com time to read: +1 min

Will Lewis, now the publisher of the Washington Post, was in full crisis mode in 2011. Then an executive at Rupert Murdoch’s News Corporation, he was an intermediary to the police detectives investigating a British phone-hacking scandal that had placed the company’s journalists and top leaders in legal peril. For years, reporters at News Corporation’s best-selling British tabloid had landed scoops by paying public officials and illegally listening to the voice mail messages of royals, politicians, celebrities and even a murdered girl. Mr. Lewis was supposed to cooperate with police, identify wrongdoing and help steer the company through the crisis. His role, he would later say, was as a force for good.

Persons: Will Lewis, Lewis Organizations: Washington Post, Rupert Murdoch’s News Corporation, The New York Times, London’s Metropolitan Police, News Corp

☆ Our Pandemic Puppy Brought Pure Joy. Losing Him, Pure Heartbreak. - The New York Times
▼ + stars: | 2024-06-24 | by ( Margaret Renkl | ) www.nytimes.com time to read: +1 min

The first good thing about Rascal was his wiggling, leaping “You’re awake!” greeting at the start of every day. Because the second good thing about Rascal was his irrepressible joy. There is no gratitude like the gratitude of an animal rescued from a life of pain and fear and hunger. The third good thing about Rascal was his undimmed delight in what may have been the first real home he ever had. He turned laundry folding into a game of keep-away, and then a game of tug of war.

Persons: Rascal Organizations: Metro Animal Control Locations: Nashville

☆ I'm an American who visited Portugal for the first time. The affordability and walkability of Lisbon blew me away.
▼ + stars: | 2024-06-24 | by ( Rachel Dube | ) www.businessinsider.com time to read: +1 min

I could walk almost everywhere I wanted to go in the city — but it was very hilly. The view from my balcony at the Four Seasons Hotel Ritz. Rachel DubeBefore you decide where to stay in Lisbon, it's important to research the city's different neighborhoods, especially if you plan on walking everywhere. I chose the Four Seasons Hotel Ritz in the Marquês de Pombal neighborhood because it was within walking distance of Baixa and Chiado. On our first day in Lisbon, the hotel concierge told us to take a taxi to Chiado and Rossio.

Persons: Rachel Dube, who's Organizations: Ritz Locations: Lisbon, Pombal, New York

☆ Vivian Maier: The mysterious New York nanny who helped shape 20th-century street photography
▼ + stars: | 2024-06-24 | by ( Helen Stoilas | ) edition.cnn.com time to read: +9 min

CNN —For much of her life, Vivian Maier was something of a mystery. A crying child, photographed by Vivian Maier in Grenoble, France, in 1959. Vivian Maier/Courtesy Fotografiska New YorkVisitors take in photographs on display at Fotografiska's “Vivian Maier Unseen Work” in New York. In 2011, Maloof published a book, “Vivian Maier: Street Photographer,” and with the filmmaker Charlie Siskel co-directed the 2013 documentary “Finding Vivian Maier,” which was nominated for an Academy Award. In a self-portrait featured in “Vivian Maier Unseen Work," the photographer lenses herself in profile, reflected in a hand mirror.

Persons: Vivian Maier, Maier, “ Vivian Maier, ”, Anne Morin, Leandro Justen, Morin, Robert Frank, Diane Arbus, ” Morin, “, Maier’s, Sophie Wright, Vivian, ” Wright, Dario Lasagni, John Maloof, Maloof, Charlie Siskel, Chicago’s, Carl, Maier hasn’t, Wright, Lane, Matthew Gensburg, York Maloof, Howard Greenberg, ‘ Organizations: CNN, New, Fotografiska, York Visitors, Kodak, Central, Flickr, Court, du Locations: New York, Chicago, York, Swedish, Grenoble, France, Central Park , New York, ” New York, America, California, Europe, Asia, ”, Chicago’s Cook, du Luxembourg, Paris

☆ A New Yorker took her first solo trip to Greece at 38. She loved the slower pace of life so much that she moved there.
▼ + stars: | 2024-06-24 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

She told Business Insider she worked 16 hours a day some days and often worked weekends. Rodriguez told BI they'd been working hard on a new project just before being let go. AdvertisementWith her new business, Rodriguez thought she needed to stay in New York to meet clients in person. She took a solo trip to GreeceRodriguez decided to attend a friend's birthday party in Greece in June 2021. She'd never visited the country before and decided to take a 10-day solo vacation to Greece around the party.

Persons: —, Marissa Rodriguez, Rodriguez, she'd, Chris Burch, Wonder, Sofia Vergara, Renata Black's, Greece Rodriguez, She'd, New York —, couldn't Organizations: Service, New York University, Business, C.Wonder Locations: Puerto Rico, Manhattan, New York, Greece, America, Athens, there's, New York City

☆ Barcelona plans to ban short-term rentals, hitting the owners of 10,000 apartments
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewBarcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market. "Tourist apartments represent just 0.77% of Barcelona's housing stock," Enrique Alcantara, president of the Barcelona Tourist Apartments Association, told media after the announcement. AdvertisementGlobal short-term rental restrictionsOther cities are similarly eyeing short-term rental restrictions to manage skyrocketing housing costs in what's been deemed the "Airbnb effect." Cities including Vancouver, Tokyo, London, Amsterdam, and Paris have all placed restrictions on the short-term rental market. Some Southeast Asian countries have banned short-term rentals completely.

☆ Jain Global, the most anticipated new hedge fund in years, is about to make its debut. An architect of the manager explains how it will be different.
▼ + stars: | 2024-06-24 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +12 min

The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.

Persons: —, Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath

☆ Stock futures are little changed after Nasdaq Composite registers worst day since April: Live updates
▼ + stars: | 2024-06-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 24, 2024. Stock futures were flat in overnight trading after a selloff in favored technology names brought the Nasdaq Composite to its worst day since April. During the regular session, the Dow Jones Industrial Average bucked Monday's selloff, adding nearly 261 points, or 0.67%. The S&P 500 dropped 0.31%, while the Nasdaq Composite shed 1.09% for its worst day since April as investors rotated out of semiconductors. Wall Street is looking ahead to earnings from FedEx and Carnival on Tuesday as the season nears its end.

Persons: Jeff deGraaf, CNBC's Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones, SolarEdge Technologies, Pool Corp, Nvidia, Qualcomm, Broadcom, FedEx, Richmond Fed Locations: New York City, U.S

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

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