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☆ Lionel Richie’s outfit at the 1984 Olympic Games was one of the most ’80s outfit ever
▼ + stars: | 2024-08-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —Remember when Lionel Richie, flanked by 1984’s finest pyrotechnics, closed out the LA Olympic Games wearing an entirely beaded jacket? The unforgettable blue and silver beaded jacket he wore to the 1984 Olympics was cropped at the hips, with a silver piping around the collar and sleeves. “When I came into the business the only man in a beaded jacket was Liberace,” Whitten told the LA Times in 1990. “At that particular time, I was launching ‘All Night Long,’ and it just happened to be at the 1984 Olympics, and of course, you just can’t beat the color. Stood atop a shimmering gold podium in his luminous beaded jacket, it’s clear Richie was also going for gold.

Persons: Lionel Richie, ’, Richie’s, “, Anthony Thomas Melillo, Richie, Bill Frank Whitten, Michael Jackson, Elton John, Whitten, Michael Jackson’s, Billie Jean ”, Liberace, ” Whitten, Tina Turner, Madonna, Bruce Springsteen, ”, let’s Organizations: CNN, LA, Games, Commodores, Associated Press, Vegas, American Idol, Getty, LA Times, Hall of Fame, Coveteur Locations: Cleveland , Ohio

☆ 'It’s mayhem and craziness': Californians react to Gavin Newsom’s order to remove homeless encampments
▼ + stars: | 2024-08-10 | by ( Elleiana Green | Elleiana Green Is A Digital Politics Intern With Nbc News | ) www.nbcnews.com time to read: +8 min

Gavin Newsom’s recent executive order requiring state agencies to remove homeless encampments on public property, leaving the homeless community caught in the middle and uncertain where they will go. Now it’s time for locals to do their job.”But members of the homeless community say they have nowhere to go. “It’s absolute mayhem and craziness,” said Jeni Shurley, a member of the homeless community in Los Angeles. San Francisco has about 8,000 homeless people — the second most in the state behind Los Angeles, with about 75,000. Barger added that the city was working to maintain the trust of the homeless community while working to dismantle the camps.

Persons: Gavin Newsom’s, Newsom, “, ” Newsom, We’ve, ”, Jeni Shurley, Shurley, that’s, “ I’ve, ” Laura Valdez, Tara Gallegos, Newsom’s, Mayor London Breed, Kathryn Barger, Barger, Darrell Steinberg, Steinberg, they’re, ” Steinberg Organizations: Gov, Department of Housing, Urban Development, Democrat, Supreme, D.C, Public, Institute of California, San Francisco’s Mission, NBC News, Mayor London, Los Angeles County, Supervisors, Republican, NBC, Sacramento Locations: California, New, —, Los Angeles, Oregon , Colorado , Louisiana , Missouri, Washington, San Francisco’s, San Francisco, Los, Sacramento

That includes the Jan. 6 and 2020 election interference case brought by special counsel Jack Smith. If Harris wins the election in November, Trump’s Jan. 6 case — though weakened by the Supreme Court — will continue to move toward trial. She is also likely to avoid much discussion of Trump’s handling of classified documents: While a Trump-appointed federal judge dismissed a federal case involving his alleged mishandling of classified documents, the Justice Department has appealed and the case could ultimately survive. While those rules are binding only on the Justice Department, part of Harris’ pitch to voters is that she would respect the lines between the Justice Department and the White House that have existed for decades, since the Watergate scandal. During the Biden administration, the Justice Department appointed another special counsel, a former Trump appointee, who secured the conviction of Biden’s son Hunter Biden on gun charges.

Persons: WASHINGTON, Kamala Harris, Donald Trump, Walz, there’s, Harris, Trump, Jack Smith, Trump’s Jan, Hillary Clinton, “ We’re, ”, —, Tony West, Eric Holder, “, ” Harris, fraudsters, cheaters, Donald Trump’s, Jean Carroll, Joe Biden, Bill Shipley, Shipley, Biden, Smith, Biden’s, Hunter Biden Organizations: Harris, Trump, Supreme, Department, DOJ, United, Democratic National Committee, Justice, Justice Department, NBC News, Republicans, Congress, Democrats, Republican Locations: Wisconsin, United States, California, New York

The annual Perseid meteor shower peaks overnight Sunday and into the predawn hours Monday, giving skywatchers around the world a chance to enjoy one of the best shooting star displays of the year. The Perseids are usually one of the most anticipated skywatching events of the year because the shower tends to deliver a high rate of shooting stars. Weather permitting, stargazers could see as many as 100 per hour from dark locations. Experts are predicting favorable conditions for this year’s show, particularly because the moon will set by around 11:30 p.m. local time, which means the shooting stars will not be washed out by bright moonlight. While the meteor shower's peak will likely produce the highest rate of shooting stars, Perseid meteors have been visible for weeks — and will continue to be seen after this weekend.

Persons: stargazers, Bill Cooke, Tuttle Organizations: NASA’s Marshall Space, NASA Locations: Meteoroid, Alabama

GLENDALE, Ariz. — Vice President Kamala Harris made immigration a key component of her stump speech Friday night during a packed rally in a Phoenix suburb after making no mention of the topic during rallies this week in Michigan and Wisconsin. “We will move forward and take on the biggest issues facing our nation, for example, the issue of immigration,” Harris told the crowd of supporters. Harris has faced intense scrutiny on immigration from the Trump campaign since rocketing to the top of the Democratic ticket. Vice President Kamala Harris and running mate Gov. Ross D. Franklin / APSince launching her presidential bid, Harris has touched on immigration during past visits to Sun Belt states.

Persons: Kamala Harris, “, ” Harris, Harris, Donald Trump, “ Donald Trump, ”, Trump, Biden, Gov, Tim Walz, Sen, Mark Kelly, Gabby Giffords, Ross D, Walz, Kamala Harris ’, Halee Dobbins, Joe Biden, ’, Arizona Sen, Kelly, ” Kelly, “ Tim, Ruben Gallego, Kari Lake, Gallego Organizations: ”, Democratic, Republicans, Northern, Desert Diamond, Franklin, AP, Sun, “, Republican, Arizona, Arizona’s Senate, Marine Locations: GLENDALE, Ariz, Phoenix, Michigan, Wisconsin, Guatemala, El Salvador, Honduras, Glendale, Georgia, Arizona, Arizona’s, Iraq

☆ Tim Walz's military career: What we know and what we don't know
▼ + stars: | 2024-08-10 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +6 min

Tim Walz of Minnesota as her running mate, his military history seemed like an asset. About two months later, after his retirement, his unit, the Minnesota National Guard's 1st Battalion, 125th Field Artillery, was ordered to mobilize. In 1996, he transferred to the Minnesota National Guard and held various field artillery positions, including firing battery chief, operations sergeant, first sergeant, and command sergeant major. A month later, in March 2005, the National Guard announced the potential partial mobilization of troops from the Minnesota National Guard. To retire as a command sergeant major, Walz would also have had to hold the title for three years.

Persons: —, Kamala Harris, Tim Walz, Walz, Kristen Augé, Sen, JD Vance, Vance, Mike Waltz, Harris, That's, @JDVance, Mark Kelly, Donald Trump, It's, Major Organizations: Service, Army, Business, Nebraska and Minnesota National Guards, Minnesota National Guard, Minnesota National Guard's 1st Battalion, 125th Field Artillery, Republican, Bowl, Republicans, Facebook, USMC, US Army, Army National Guard, Nebraska Army National Guard, Records, Federal, Commission, National Guard, Minnesota, Minnesota Public Radio, ABC News, Major Locations: Minnesota, Iraq, Florida, Afghanistan, Italy, Washington, DC

☆ A top 1% fund manager over the last 15 years warns a selling spiral threatens to sink the market — and shares 4 stocks he's betting on to capitalize on the turmoil
▼ + stars: | 2024-08-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Yes, the S&P 500 is just off of all-time highs following a 36% percent rally from October to July. Major stock prices begin to perform poorly, which drags down the S&P 500 Index, which in turn causes the selling of the index. The index selling puts a drag on the largest-cap stocks, which adds more legs to the index selling." The S&P 500 is up 49% since late 2022 as bears have continued to warn of downside. AdvertisementSecond, lower interest rates would spark demand and could cause inflation to resurface, which would be good for oil stocks, Smead said.

Persons: —, Smead doesn't, Smead, Warren, We're, Dow, Jeremy Grantham, John Hussman, Stocks, LEN Organizations: Service, Business, Morningstar, Smead, Bank of America, Technology, Fund, Federal, Fed, DR, Occidental Petroleum, Apache

☆ How Hollywood Glamour Is Reviving the Endangered Broadway Play
▼ + stars: | 2024-08-10 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Robert Downey Jr. is deep in rehearsals for his Broadway debut next month as an A.I.-obsessed novelist in “McNeal.” Next spring, George Clooney arrives for his own Broadway debut in “Good Night, and Good Luck,” and Denzel Washington returns, after a seven-year absence, to star in “Othello” with Jake Gyllenhaal. Then comes an even more surprising debut: Keanu Reeves plans to begin his Broadway career in the fall of 2025, opposite his longtime “Bill & Ted” slacker-buddy Alex Winter in “Waiting for Godot,” the ur-two-guys-being-unimpressive tragicomedy. Broadway, still adapting to sharply higher production costs and audiences that have not fully rebounded since the coronavirus pandemic, is betting big on star power, hoping that a helping of Hollywood glamour will hasten its rejuvenation. Even for an industry long accustomed to stopovers by screen and pop stars, the current abundance is striking.

Persons: Robert Downey Jr, “, ”, George Clooney, Denzel Washington, Jake Gyllenhaal, Keanu Reeves, Ted ” slacker, Alex Winter Organizations: Broadway Locations: “ McNeal, Hollywood

☆ An Airbnb host had to ban crypto mining after guests racked up a $1,500 electric bill
▼ + stars: | 2024-08-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +1 min

Airbnb host Ashley Class said she had to ban crypto mining at her North Carolina property. She said guests ran up a $1,500 electricity bill after bringing many computer rigs into the home. Go to newsletter preferences Thanks for signing up! One North Carolina host has had to add another: no cryptocurrency mining. On July 30, Airbnb host Ashley Class said in a video posted to TikTok that she had banned crypto mining in her short-term rentals after a bizarre guest experience.

Persons: Ashley Class, —, Ashley Organizations: Service Locations: North Carolina, Carolina

☆ Opinion | Harris Must Persuade Gaza Protesters, Not Dismiss Them
▼ + stars: | 2024-08-10 | by ( M. Gessen | ) www.nytimes.com time to read: +2 min

At a campaign rally in the Detroit area on Wednesday, Kamala Harris was speaking about the threat of Project 2025 and the Trump agenda when a small group of protesters interrupted her. I couldn’t make out their words, but it was reported that they were shouting something about Gaza. Harris reacted with her trademark “I am speaking now.” The protesters persisted. Clinton engaged at first, saying he was running for president “to do something about it.” Rafsky continued to shout. Yes, before her Detroit speech, Harris met very briefly with a group of pro-Palestinian activists.

Persons: Kamala Harris, Trump, Harris, Donald Trump, ”, Bill Clinton, Bob Rafsky, “ We’re, ” Rafsky, Clinton, “ Organizations: Democratic, ACT UP, Trump, Palestinian Locations: Detroit, Gaza, New York

Democratic vice presidential candidate and Minnesota Governor Tim Walz (L), and Republican Vice Presidential candidate Sen. JD Vance (R-OH). Child tax creditMinnesota's new child tax credit is unusual in its narrowness, but it is the most generous in the nation for low-income households. However, a permanent federal child tax credit expansion could be difficult, particularly amid a divided Congress and increasing concerns over the federal budget deficit. Despite the failed procedural vote, Crapo voiced openness to negotiating a "child tax credit solution that a majority of Republicans can support." Vance was not present for the Senate vote, but has expressed support for the child tax credit.

Persons: Tim Walz, Sen, JD Vance, Walz, Vance, Cowen, Seiberg, Jared Walczak, Mike Crapo, Crapo, Vance's Organizations: Democratic, Minnesota, Republican, Getty, Convention, Senate, U.S, Tax, Republicans, Senate Finance Committee, Democrats, Yale Law School Locations: Harris, Idaho, U.S

☆ The Man Who Tried to Solve Immigration for the G.O.P.
▼ + stars: | 2024-08-10 | by ( Lulu Garcia-Navarro | ) www.nytimes.com time to read: +2 min

Before you were in politics, you ran the largest Baptist youth camp in the country, Falls Creek. That’s what my wife and I did for 22 years, to be able to just love on families and to encourage them. And in 2008 and 2009, we really felt a calling to be able to run for Congress in the central district. As I joke with some of my Democrat colleagues, we’re friends, but they’re wrong all the time. They vote wrong all the time, but we can still be friends in our conversation and relationship and try to be able to engage.

Persons: James, “, It’s Organizations: Republican Party, Baptist, Republican Locations: Trump, Oklahoma

☆ Inside the Worst Three Weeks of Donald Trump’s 2024 Campaign
▼ + stars: | 2024-08-10 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

The Aug. 2 dinner at the Bridgehampton, N.Y., home of Howard Lutnick, the Cantor Fitzgerald chief executive, was a high-powered affair. Among the roughly 130 people who dined under an air-conditioned tent were some of Donald Trump’s wealthiest supporters, including the billionaire hedge-fund financier Bill Ackman, who sat next to the former president, and Omeed Malik, the president of another fund, 1789 Capital. Some guests hoped Mr. Trump would signal that he was recalibrating after a series of damaging mistakes. He did not. According to two people present, Mr. Trump himself also brought up his remark, made two days earlier at a gathering of the National Association of Black Journalists, in which he had questioned Vice President Kamala Harris’s racial identity.

Persons: Howard Lutnick, Cantor Fitzgerald, Donald Trump’s, Bill Ackman, Omeed Malik, Trump, Lutnick’s, “ We’ve, Kamala Harris’s Organizations: National Association of Black Journalists

Tim Walz plays cards with students on a river boat cruise in China in the summer of 2001. Tim Walz, left, singing "The Lion Sleeps Tonight" at karaoke on a trip to China with students in the summer of 2001. Larissa Beck and Tim Walz at the Minnesota state capitol on March 19, 2024, for Disability Services Day. Mankato West High SchoolAs for his former students, Walz’s ascent to vice presidential candidate has inspired them to reconnect with each other and share their memories of “Mr. Walz.”“I’ve talked to hundreds of people from high school that I haven’t talked to in 20 years because of this,” Meyer said.

Persons: Tim Walz, Kamala Harris ’, Walz ”, Jacob Reitan, Walz, “, Tim, Gwen, ” Reitan, Seth Elliot Meyer, Meyer, ” Meyer, ” Tim Walz, Seth Elliott Meyer Meyer, Emily Scott Emily Scott, Scott, ‘, China, ’ ” Scott, ‘ Emily, ” Scott, Emily Scott Scott, ” Larissa Beck, Larissa Beck, Larissa Beck Beck, “ We’re, ”, He’s, Reitan, Randi, ‘ Tim, ‘ Randi, ’ ” Walz, wouldn’t, “ Don’t, Donald Trump, “ There’s, ” Trump, “ Fox, Mr, ” “ I’ve Organizations: Minnesota Gov, Straight Alliance, GSA, Mankato West High School, MSNBC, America, ”, Mankato West, Woodward Academy, University of Wisconsin, Madison, Services, National Guard, Minneapolis ’ Star Tribune, Republican, Minnesota, Fox News, NBC Locations: Minnesota, Mankato , Minnesota, Minneapolis, Atlanta, China, St, Paul , Minnesota, Guilin, United States, Massachusetts, Vermont

— President Joe Biden signed the CHIPS and Science Act into law on Aug. 9, 2022, authorizing nearly $53 billion to rebuild the nation’s semiconductor industry. A Purdue University summer program gives undergrads hands-on experience in the chip-development process. The domestic semiconductor manufacturing workforce has dropped from a peak of 714,500 in 2001 to 392,100 as of July, according to government data. In addition, the CHIPS Program Office, run out of the Commerce Department, has announced major commitments for research and development, including workforce skilling, with a $5 billion package unveiled in February. Some of the students in Purdue University’s inaugural STARS program last summer, which began with about 70 trainees.

Persons: Joe Biden, Robert Zhang, doesn’t, ” Zhang, Feichi Huang, Mark Lundstrom, Purdue University Bill Wiseman, ”, Lundstrom, Sujai, Shivakumar, “, that’s, Taylor Roundtree, there’s Organizations: WEST LAFAYETTE, Purdue University, Semiconductors, Intel, Texas, STARS, Purdue, U.S, McKinsey & Co, Semiconductor Industry Association, Micron, Commerce Department, McKinsey, South, SK Hynix, Apple, Nvidia, TSMC, Center for Strategic, International Studies . Universities Locations: Ind, Syracuse , New York, Phoenix, U.S, Taiwan, Korea, Japan, Singapore, West Lafayette , Indiana, South Korean, United States, “

☆ DuPont's AI ties drew us in, but its water unit may be the sleeper hit
▼ + stars: | 2024-08-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

DuPont's water business DuPont is considered a leader in purification and specialty-separation technologies that generates cleaner water for industries, governments, and communities. Arun Viswanathan, analyst at RBC Capital Markets, characterizes Dupont's water business' next-generation products as being "at the top of the technology pyramid." Dupont's water business is the smallest of the three companies that will be created by the breakup. As this exercise shows, DuPont's water business as a standalone firm would certainly deserve that compared to some. Potential M & A It's possible DuPont's water business never makes it to standalone status.

Persons: we've, Jim Cramer, It's, Lori Koch, it's, Aleksey Yefremov, Arun Viswanathan, Viswanathan, Dupont, RBC's Viswanathan, DuPont, KeyBank's Yefremov, EBITDA, Pentair, Veralto, Yefremov, They'll, they'll, —, Koch, Ed Breen, Jim Cramer's, Jim, Jeff Fusco Organizations: DuPont, CNBC, JPMorgan, Bank, Barclays, RBC Capital Markets Locations: China, North America, Asia, East, Africa, America, Yefremov, Wilmington , Delaware

☆ Google and X lag peers in addressing non-consensual explicit images, lawmakers say
▼ + stars: | 2024-08-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Google, X and Discord are among a group of tech giants that could be doing more to address the rising threat of non-consensual explicit images online, according to a letter that a group of senators sent to the companies Friday. The letter criticizes nearly a dozen tech firms for their lack of participation in two programs that make it easier for people to request the removal of non-consensual explicit images and videos from the internet. The letter was spearheaded by Democratic Sen. Jeanne Shaheen and Republican Sen. Rick Scott, and co-signed by ten other senators. Most of the companies named in the letter have policies against the creation or sharing of non-consensual, explicit images, and in some cases offer their own ways for users to report or request the removal of such content. The fight to address non-consensual explicit images and deepfakes has received rare bipartisan support.

Persons: popstar Taylor Swift, OpenAI, Democratic Sen, Jeanne Shaheen, Republican Sen, Rick Scott, deepfakes, Ted Cruz, —, Amy Klobuchar Organizations: New, New York CNN, Google, CNN, Microsoft, National Center for, Democratic, Republican, Capitol Locations: New York

☆ Work Culture at the Gates Foundation: Bill Gates Was Domineering, Inspired Fear
▼ + stars: | 2024-08-09 | by ( Anupreeta Das | ) www.businessinsider.com time to read: +10 min

Every year, Bill Gates — and, until she left, Melinda French Gates — would hold multiple meetings with executives of the Gates Foundation to approve plans and budgets, and review strategies. For many, the meeting might be the only direct opportunity to interact with, and impress, Gates and French Gates. AdvertisementGates and French Gates followed the presentations closely, usually saving questions for the end. The former couple sought to maintain a professional relationship, giving themselves at least two years to see if they could work together, with the understanding that French Gates would leave if they couldn't. One former senior employee compared the style of discussion to the Socratic method, often used in law schools by professors who push students to reasoning through dialogue.

Persons: Bill Gates —, Melinda French Gates, Gates, Louis XIV, —, opprobrium, Gates —, Bill Gates, Simon, It's, Melinda weren't, hasn't, Warren Buffett —, outargue Gates, seethed, Anupreeta Das Organizations: Gates Foundation, Business, Employees, Avid Reader Press, Simon & Schuster, Inc, HBO, Microsoft Locations: French Gates, Versailles, Gates

☆ Boeing Starliner: What life is like for two astronauts in limbo in space
▼ + stars: | 2024-08-09 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

They’re not part of Expedition 71, the international crew of seven astronauts serving as the space station’s official staff. Crew-9 — a routine trip to the space station to replenish expedition staff — is currently slated to fly with four astronauts: NASA astronauts Zena Cardman, Nick Hague and Stephanie Wilson, and cosmonaut Aleksandr Gorbunov of the Russian space agency Roscosmos. NASA astronauts Suni Williams and Butch Wilmore are greeted by the crew of the International Space Station on June 6, 2024. In 2012, during an earlier trip to the International Space Station, she became the first person to finish a triathlon in space. Without a suitcaseFlying to the space station without the suitcases they had packed for their mission perhaps complicated the comfort of the Starliner astronauts’ extended stay.

Persons: Suni Williams, Butch Wilmore, —, They’ve, Williams, They’re, ” Dana Weigel, “ Butch, Suni, ” Weigel, “, Zena Cardman, Nick Hague, Stephanie Wilson, Aleksandr Gorbunov, Wilmore, they’ve, Sunita Williams, Frank Rubio, yearlong, ’, ”, Bill Spetch, Spetch, they’re, Ken Bowersox Organizations: CNN, Space, NASA, SpaceX, International Space Station, Boeing, SpaceX’s, International, Station, AP, Boston Marathon, Space Station, Northrop Grumman, Space Operations, “ Locations: Russian

☆ Opinion | Nancy Pelosi: ‘It Didn’t Sound Like Joe Biden to Me’
▼ + stars: | 2024-08-09 | by ( Ezra Klein | ) www.nytimes.com time to read: +55 min

And they know you’re going to act so they won’t mess with you. Put it in somebody else’s mouth because it was AI mean, it didn’t sound like Joe Biden to me. I think you’re I think you’re underselling this a little bit. And if they don’t, I’m going to keep my promise and send them 100 powdered wigs because they’re just living in a different era. All these other politicians, these career politicians didn’t know how to make a good deal.

Persons: Nancy Pelosi, Harris, Tim Walz, Al Gore, They’re, he’s, Joe Biden, Obama, Walz, Donald Trump, it’s, Trump, Said, JD Vance, Kamala Harris, Gavin Newsom, Ro Khanna, Scott Wiener, haven’t, Liam McCarthy, Willie Brown, George Moscone, Leo, Dianne Feinstein, It’s, Kamala, she’s, let’s, Suzan, You’ll, That’s, you’ll, I’m, that’s, We’re, I’ve, He’s, what’s, Bob Dole, George Bush, Svetlana, they’re, Scott Brown, Ted Kennedy’s, Ted Kennedy, Scott Brown’s, We’ve, you’re, Bill, Harry, Harry Reid, Pelosi, John Boehner, you’ve, Weaver, that’s O.K, Kevin McCarthy, kaka, Bernie Sanders, Sanders, Ted Cruz, Let’s, Barney Frank, Bill I, Steny Hoyer, don’t, You’re, John Dingell, Roe, Ira, Biden, McCarthy, o’clock, Wade, Kathy Manning of, Kathy Manning, didn’t, America’s, Republicans can’t, You’ve, Mary Barra, Steph Curry, Elton John Bono, Bill Gates, ain’t, Abraham, Little, Hillary, Norman Lear, Umberto, Gabriel Garcia Marquez’s, I’ll, Darwin, Lincoln Organizations: Democratic Party, Democratic, Republican, Veterans Affairs, Trump, Republicans, Democrat, San, Cal Stanford, University of San, Morning, NATO, Affordable, Senate, White House, California Democratic Party, Technology Committee, North, Global, Abraham Accords, Rogue, Republican Party Locations: America, Minnesota, San Francisco, University of San Francisco, United States, It’s, Belarus, Massachusetts, California, Iraq, Idaho, Italian, Kathy Manning of North Carolina, China, Sudan, Michigan, Arizona, David, South, Baltimore

☆ Beware Politicians’ Newfound Love of Crypto - The New York Times
▼ + stars: | 2024-08-09 | by ( Eswar Prasad | ) www.nytimes.com time to read: +2 min

Donald Trump is vowing to make the United States “the crypto capital of the planet,” and a new Republican-sponsored Senate bill demands that the Fed invest billions in bitcoin. All of this might suggest that the crypto world is finally putting its scandals and unsavory reputation as the playground of crooks and financial charlatans behind it. Politicians’ newfound love of crypto probably has more to do with a cynical bid for young voter support and Silicon Valley cash than a maturing of a financially perilous set of assets. If anything, crypto today presents even greater risks to its investors and to our financial institutions than it did before. The fact that the Republican Party is publicly celebrating crypto to American voters could only make matters worse.

Persons: Crypto, Donald Trump, Kamala Harris, Biden, ’, Bitcoin Organizations: Securities and Exchange Commission, Republican, charlatans, Republican Party Locations: United States, bitcoin, Silicon

☆ Delta says chaos after CrowdStrike outage cost it $550 million
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +1 min

Delta Air Lines on Thursday said last month’s CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing legal claims against the company as well as Microsoft. The incident, in which it canceled some 7,000 flights, also meant a $170 million expense “associated with the technology-driven outage and subsequent operational recovery,” the carrier said, adding that its fuel bill will likely be $50 million lower because of the scrubbed flights. Delta struggled more than its competitors to recover from the July 19 outage, which took millions of Windows-based machines offline around the world. The disruptions occurred at the height of the summer travel season, leaving thousands of Delta customers stranded, a rare incident for the carrier that markets itself as a premium carrier that gets top marks for reliability. “Since the incident, our people have returned the operation to an industry-leading position that is consistent with the level of performance our customers expect from Delta.”

Persons: Ed Bastian Organizations: Delta Air Lines, Microsoft, Delta Locations: Atlanta, Delta

☆ Catalan separatist Carles Puigdemont returns to Spain after seven years, risking arrest
▼ + stars: | 2024-08-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

BARCELONA, SPAIN - AUGUST 08: Former Catalan President Carles Puigdemont makes his first public appearance since he fled Spain in 2017, speaking at a public rally in Barcelona, Spain on August 08, 2024. Catalan police had the order to arrest him immediately, but Puigdemont managed to speak for several minutes outside of the Catalan parliament. (Photo by Adria Puig/Anadolu via Getty Images)Former Catalan separatist leader Carles Puigdemont returned to Spain after seven years of self-imposed exile, defying a pending arrest warrant and igniting a police manhunt. A Catalan Interior Ministry spokesperson confirmed to Reuters that the separatist politician has yet to be captured. Illa's platform won the largest share of the vote in the Catalan elections of May, dethroning Puigdemont's hardline separatist Junts per Catalunya party.

Persons: Carles Puigdemont, Puigdemont, Adria Puig, Salvador Illa, dethroning, Ignacio Garriga —, Pedro Sanchez, Sanchez, Alberto Nunez Feijoo, Bill Organizations: Anadolu, Getty Images, CNBC, Interior Ministry, Reuters, Spanish, Government, Socialist Locations: BARCELONA, SPAIN, Spain, Barcelona, Catalonia, Spanish, Catalan, Catalonian, Catalunya

☆ Delta says chaos after CrowdStrike outage cost it $380 million in revenue
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Delta Airlines Airbus A319-114 aircraft taxis at Los Angeles International Airport after arriving from Las Vegas on May 5, 2024 in Los Angeles, California. Delta Air Lines on Thursday said last month's CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing damages against the company as well as Microsoft . Delta struggled more than its competitors to recover from the July 19 outage, which took millions of Windows-based machines offline around the world. "Since the incident, our people have returned the operation to an industry-leading position that is consistent with the level of performance our customers expect from Delta." The U.S. Department of Transportation last month said it is investigating Delta's response to the outage and flight cancellations.

Persons: Ed Bastian, CrowdStrike Organizations: Delta Airlines Airbus, Los Angeles International Airport, Delta Air Lines, Microsoft, Delta, U.S . Department of Transportation Locations: Las Vegas, Los Angeles , California, Atlanta

☆ The next world’s tallest building could be a 3,000-feet-high battery
▼ + stars: | 2024-08-07 | by ( Amy Gunia | ) edition.cnn.com time to read: +6 min

A combination of technologies — from various forms of batteries to other energy storage methods — will likely be necessary to increase capacity. As shown in this render, energy storage company Energy Vault, along with Skidmore, Owens & Merrill, the architecture and engineering firm behind some of the world's tallest buildings, is integrating gravity energy storage technology into building designs. A view of the world's tallest building, the Burj Khalifa, in Dubai, in December 2022. Two energy storage experts contacted by CNN questioned if the economics of a skyscraper battery could work, given the space that would need to be used for energy storage and the structural changes that would be needed to support the extra weight. Energy Vault has already completed a project in China which it says is the world’s first commercial-scale, non-pumped hydro gravitational energy storage system.

Persons: Chicago’s Willis, Bill Baker, Abdelhadi Ramahi, Robert Piconi, Stefano Boeri, Daniel Safarik, ” Organizations: CNN, Skidmore, Owings, Merrill, Energy, Owens & Merrill, Trade Center, Sears, Burj, International Energy Association ., SOM, Reuters Locations: Burj Khalifa, Dubai, China, Milan, Italian

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