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Former President Donald J. Trump lashed out at Republicans in Congress while campaigning in Pennsylvania on Saturday, threatening members of his party who do not share his appetite for pursuing corruption investigations against President Biden and his family — and for retribution. In a litany of grievances about his deepening legal woes and the direction of the country, the twice-indicted former president cast G.O.P. “You’ve got to get a little bit lower class.”And then Mr. Trump, the overwhelming front-runner for the 2024 Republican presidential nomination, put party members on notice. “Any Republican that doesn’t act on Democratic fraud should be immediately primaried,” said Mr. Trump, to the roaring approval of several thousand supporters at the Erie Insurance Arena. Throughout the night he referenced the case against Hunter Biden and accused the president of complicity in his son’s troubles.
Persons: Donald J, Trump, Biden, G.O.P, holdouts, , “ You’ve, , Hunter Biden Organizations: Republicans, Erie Insurance Locations: Pennsylvania, Erie, Pa
WASHINGTON, July 28 (Reuters) - Conservative U.S. Supreme Court Justice Samuel Alito said that Congress lacks the power to regulate the court, in an interview published by the Wall Street Journal on Friday a week after Senate Democrats advanced a bill to impose an ethics code. The Democratic-controlled Senate Judiciary Committee last week approved the bill, which would mandate a binding code for the court following revelations that some justices - including Alito - had failed to disclose luxury trips funded by wealthy benefactors. "I know this is a controversial view, but I'm willing to say it," Alito said in the interview published in the Journal's opinion section. "No provision in the Constitution gives them the authority to regulate the Supreme Court — period." That bill, which cleared the committee on an 11-10 party-line vote, is unlikely to gain the Republican support needed to pass Congress.
Persons: Samuel Alito, Alito, John Roberts, Neil Gorsuch, Clarence Thomas, preemptively, ProPublica, Thomas, Harlan Crow, Sheldon Whitehouse, John Kruzel, Andrew Chung, Scott Malone, Alistair Bell Organizations: Conservative U.S, Supreme, Wall, Democrats, Democratic, Republicans, Republican, Thomson Locations: Alaska
Lawyers to the uber-rich told Insider how purpose trusts work and how to plan for centuries ahead. Fortunately, there is a workaround: purpose trusts. Trusts are well-known as a tool for saving millions on taxes, but purpose trusts are seldom used to pay less to Uncle Sam. Here is how purpose trusts workPurpose trusts are not absolutely necessary to make sure your pets are cared for after you pass, Yadav told Insider. Purpose trusts set up to maintain art collections usually include a timeline for liquidating or donating the artworks, according to lawyer Neil Solarz of Weinstock Manion.
Persons: Leona Helmsley, Naomita Yadav, Uncle Sam, Yadav, perpetuities, Neil Solarz, Weinstock Manion, Solarz, that's, Samantha, someone's, Shepherd Organizations: Siberian huskies, huskies Locations: Withersworldwide, California
BEIJING/TAIPEI, July 28 (Reuters) - Typhoon Doksuri swept into southern China on Friday, unleashing heavy rain and violent gusts of wind that whipped power lines and sparked fires, uprooted trees, and ripped off part of a stadium roof. REUTERS/Eloisa LopezSocial media video showed power lines sparking and bursting into flames as winds thrashed Jinjiang, a city of 2 million, while in Quanzhou trees were uprooted and left in the middle of roads. FERRY OVERTURNSTyphoon Doksuri has already left a wake of death and destruction as it moved from the Philippines across southern Taiwan. In southern Taiwan, the storm toppled trees and cut power to hundreds of thousands of homes. The storm had cut power to more than 278,000 homes across Taiwan and downed hundreds of trees in Kaohsiung.
Persons: Doksuri, Meranti, Zhuang, Aya, Eloisa Lopez, Bernard Orr, Ryan Woo, Yimou Lee, Dominique Patton, Yuhan Lin, Kevin Huang, Ethan Wang, Michael Perry, Neil Fullick Organizations: Sunday, Philippine Coast Guard, REUTERS, Eloisa Lopez Social, Residents, Reuters, Thomson Locations: BEIJING, TAIPEI, China, Fujian, Quanzhou, Anhui, Beijing, Xiamen, Binangonan, Rizal province, Philippines, Jinjiang, Taiwan, Manila, Kaohsiung, Taipei, Shanghai
McDonald's customers are "trading down" to its value items and buying less, execs told investors. Some diners also appear to be switching to McDonald's from full-service restaurants, CEO Chris Kempczinski said. Customers are "trading down" from premium and higher-priced items to core and value items instead, CFO Ian Borden told investors on Thursday, without giving specific examples. Kempczinski told investors in April that fewer customers were ordering fries with their burgers as they cut back on spending. Some households on incomes under $100,000 also appear to be switching to McDonald's from full-service restaurants, Kempczinski said Thursday.
Persons: execs, Chris Kempczinski, Kempczinski, Ian Borden, Borden, Neil Saunders, McDonald's, Grimace Organizations: Service Locations: Wall, Silicon, McDonald's
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Persons: Dow Jones, sinead, oconnor
MediaMath Cofounder and CEO Joe Zawadzki is assembling a syndicate to buy back the company. MediaMath cofounder Joe Zawadzki is looking to assemble a syndicate of adtech industry investors to attempt to buy back the company's assets at its upcoming bankruptcy auction, according to people familiar with the matter. Former employees and industry observers have said Zawadzki's MediaMath was also ahead of its time developing tools to demystify how digital ad dollars were being spent. MediaMath's supply chain optimization assets could become the backbone of FxM's "SCF+" supply chain financing product, the adtech industry sources suggested. Zawadzki is also a general partner at the venture capital firm AperiamVentures, which has invested in dozens of adtech startups.
Persons: Joe Zawadzki, MediaMath, Zawadzki, Joe, Zawadzki's, , Neil Nguyen, MGI, hadn't Organizations: IBM, Bain Capital, Google, Media, Games Locations: MediaMath, Delaware, , AperiamVentures
Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."
Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford
Only three months into Justice Ketanji Brown Jackson’s first Supreme Court term, she announced a book deal negotiated by the same powerhouse lawyer who represented the Obamas and James Patterson. The deal was worth about $3 million, according to people familiar with the agreement, and made Justice Jackson the latest Supreme Court justice to parlay her fame into a big book contract. Justice Neil M. Gorsuch had made $650,000 for a book of essays and personal reflections on the role of judges, while Justice Amy Coney Barrett received a $2 million advance for her forthcoming book about keeping personal feelings out of judicial rulings. Those newer justices joined two of their more senior colleagues, Justices Clarence Thomas and Sonia Sotomayor, in securing payments that eclipse their government salaries. In recent months reports by ProPublica, The New York Times and others have highlighted a lack of transparency at the Supreme Court, as well as the absence of a binding ethics code for the justices.
Persons: Ketanji Brown Jackson’s, James Patterson, Jackson, Neil M, Gorsuch, Amy Coney Barrett, Clarence Thomas, Sonia Sotomayor, ProPublica, Thomas’s, Justice Samuel A, Alito Jr, John G, Roberts Organizations: The New York Times, Supreme, Republican Locations: The
US consumers earning less than $100,000 fueled record profits last year for French luxury group LVMH. These "aspirational" customers are now pulling back on spending as pandemic cash reserves run dry. Important as these shoppers are, don't expect to see huge markdowns from Louis Vuitton and Dior. "The cost of all these initiatives was obviously quite high," Guiony said. Not every luxury brand can pull this strategy off, but it appears LVMH certainly can.
Persons: Louis Vuitton, that's, Christian Dior, Tiffany, LVMH, Jean, Jacques Guiony, Neil Saunders, Saunders, Michael Kors, Guiony, Hitha Herzog, Herzog, Pharrell Williams Organizations: Dior, Service, Louis Locations: Wall, Silicon, Asia, Pont, Paris
The jiggly snack’s logo and packaging are getting a whole new look, their first in a decade, as owner Kraft Heinz looks to revitalize the dowdy brand. Jell-O's current look on the left and new look, on the right. The “O” in the Jell-O logo is getting a bolder look because it’s an “ownable, playful aspect” of the brand. Jell-O sales fell 19% from 2009 to 2013 to $753 million, the Associated Press reported at the time. Last year, the company teased that it was giving the brand a refresh look and increasing its advertisement spend.
Persons: New York CNN —, Kraft Heinz, , Neil Saunders, It’s, ” Saunders, Bill Cosby, , ” Rachel Herz, Saunders Organizations: New, New York CNN, Shoppers, GlobalData, CNN, White, Associated Press, IRI Locations: New York
NEW YORK, July 26 (Reuters) - Evercore (EVR.N) has hired veteran Morgan Stanley (MS.N) banker Seth Bergstein as a senior managing director to drive dealmaking in the global services sector, people familiar with the matter said on Wednesday. Bergstein, who served as head of Morgan Stanley's global services group for about two decades, held the title of vice chairman of investment banking prior to his departure from the bank. In June, Evercore hired veteran technology banker Tammy Kiely and top aerospace & defense banker Michael Tarulli from Goldman. Earlier this month, it recruited Neil Wolitzer, a partner in real estate investment banking at Goldman, according to people familiar with the matter. Morgan Stanley declined to comment.
Persons: Morgan Stanley, Seth Bergstein, Bergstein, Morgan, Goldman Sachs, Wall, Evercore, Tammy Kiely, Michael Tarulli, Neil Wolitzer, Paul Taubman, Brendan Panda, Panda, Aerojet, David Carnevali, Sonali Paul Organizations: YORK, Global, Goldman, PJT Partners, PJT, Thomson Locations: Dealogic, Goldman, Evercore, New York
New York CNN —Gap has named a new CEO, from toy giant Mattel, nearly a year after its previous leader departed. The retailer announced Wednesday that Richard Dickson, currently Mattel’s president and chief operating officer, will assume the position. First the president of the Gap division and later CEO of the company beginning in 1995, Drexler pushed Gap to expand beyond jeans into khakis and oversaw the creation of the budget-chain Old Navy in 1994. It doesn’t help that Old Navy and Banana Republic are also struggling, adding to Dickson’s challenges. In short, being CEO of Gap is not for the faint of heart,” Saunders said.
Persons: Richard Dickson, He’s, Dickson, ” Dickson, Barbie, Neil Saunders, GlobalData, , Chris Blakeslee, Alo Yoga, West, Sonia Syngal, Mickey Drexler, Drexler, Paul Pressler, Glenn Murphy, Peck, Syngal, ” Saunders Organizations: New, New York CNN, Mattel, Jones New, Warner Bros, CNN, Athleta, Republic, Kanye West, Navy, Disney, Gap, Banana Republic Locations: New York, Jones New York, Zara, North America, Peck
Gen Z is soft, millennials are embarrassing, boomers are evil, and no one has thought about Gen X in years. But late this spring, Pew announced it would no longer use generational labels such as millennial and Gen Z in its research. By and large, Cohen shares Duffy's view that generational labels make it tough for both experts and laypeople to distinguish between generational traits and universal, or multifactorial, occurrences. To its credit, Pew has been transparent in acknowledging how the use of generational labels may have tilted its analyses. Pew "does believe generational research can be a useful tool in the right context," Parker told me.
Persons: Gen X, Pew, Kim Parker, Parker, Obama, Millennials, boomers, Gen Zers, Xers, , Karl Mannheim, Louis Menand, Menand, Andrew M, Lindner, Sophia Stelboum, Azizul Hakim, William Strauss, Neil Howe, Strauss, Howe's, Baby Boomer, Portia, Zers, Gen Xers, Philip N, Cohen, it's, Bobby Duffy, Duffy, Stelboum, Hakim, Michael Dimock, Kelli María Korducki Organizations: Pew Research Center, Pew, Skidmore College, University of Maryland, College, Washington, King's College London Locations: Mannheim, New York City
Hong Kong CNN —Five weeks ago, the world watched as China’s Foreign Minister Qin Gang met US Secretary of State Antony Blinken in Beijing for high stakes talks between the two powers. Qin’s whereabouts, the reason for his removal, and his ultimate fate as a member of China’s Communist Party all remain unknown. Unanswered questions about official decision-making are standard in China, where the political system is notoriously opaque and has only become more so under Chinese leader Xi Jinping. But it also suggests that the cause must be grave for (Qin) to be removed,” she added. ‘Safe hands’The Foreign Ministry shake-up comes at a particularly sensitive time in China’s international relations.
Persons: Qin Gang, Antony Blinken, , Qin, Wang Yi, Wang, Xi Jinping ., they’ve, Xi, , Yun Sun, , Neil Thomas, Bonnie Glaser, Marshall Fund’s, hashtags, Li Mingjiang, Blinken, “ I’ve, I’ve, ” Blinken, , ” Wang, China’s, Vladimir Putin, Asia Society’s Thomas, Victor Shih Organizations: Hong Kong CNN —, China’s Foreign Ministry, China’s Communist Party, Xi Jinping . Senior, China Program, Communist Party, Politics, Asia Society, Center for, Foreign, Weibo, Singapore’s Nanyang Technological University, University of California San, Century China Center Locations: Hong Kong, Beijing, China, Washington, Center for China, United States, Europe, Russia, Ukraine, Jakarta, Moscow, Asia, University of California San Diego’s
Bo Goldman, one of Hollywood’s most admired screenwriters, who took home Oscars for his work on “One Flew Over the Cuckoo’s Nest” (1975) and “Melvin and Howard” (1980), died on Tuesday in Helendale, Calif. The resulting movie, which starred Jack Nicholson as a rebellious new patient who disrupts a psychiatric ward, came out in 1975 and was a career maker. Mr. Goldman and Lawrence Hauben, who shared screenwriting credit, won the Oscar for best screenplay adapted from other material; the movie was also named best picture and earned Oscars for Mr. Forman, Mr. Nicholson and Louise Fletcher, who played the fierce Nurse Ratched. “Even then I hung my head,” Mr. Goldman wrote in a 1981 essay for The New York Times about the insecurities of a writer’s life. “After all, I had adapted somebody else’s work; was it really mine?”
Persons: Bo Goldman, “ Melvin, Howard ”, Todd Field, Goldman, Milos Forman, , Ken Kesey’s, Jack Nicholson, Lawrence Hauben, Oscar, Forman, Nicholson, Louise Fletcher, Ratched, , ” Mr Organizations: The New York Times Locations: Helendale, Calif
The rich can use trusts to devote millions to pets, art collections, and even cryogenic freezing. Lawyers to the uber-rich told Insider how purpose trusts work and how to plan for centuries ahead. Fortunately, there is a workaround: purpose trusts. Trusts are well-known as a tool for saving millions on taxes, but purpose trusts are seldom used to pay less to Uncle Sam. Here is how purpose trusts workPurpose trusts are not absolutely necessary to make sure your pets are cared for after you pass, Yadav told Insider.
Persons: Leona Helmsley, Naomita Yadav, Uncle Sam, Yadav, perpetuities, Neil Solarz, Weinstock Manion, Solarz, that's, Samantha, someone's, Shepherd Organizations: Siberian huskies, huskies Locations: Withersworldwide, California
July 26 - Industrial software maker PTC (PTC.O) forecast fourth-quarter revenue below estimates on Wednesday, as economic uncertainty forces companies to cut back on spending to bolster their bottom lines. It expects fourth-quarter revenue between $540 million and $570 million, below analysts' estimate of $572.9 million, according to IBES data from Refinitiv. It reported third-quarter revenue of $542 million, compared with $462 million, a year earlier. Analysts expected the firm to report quarterly revenue of $523.7 billion, according to Refinitiv IBES data. Excluding items, PTC posted a profit of 99 cents per share in the April-to-June period, compared with estimates of $1 per share.
Persons: Neil Barua, James Heppelmann, Akash Sriram, Pooja Desai Organizations: PTC, Companies, Refinitiv, Lifecycle Management, Thomson Locations: United States, Boston, Bengaluru
Fidelity's Adam Kramer has overseen one of the top multi-asset income funds of the past five years. Here are five asset classes he's targeting right now in this uncertain environment. The composition of the fund is weighted toward whichever asset classes are improperly priced by the market at a given time. An equally compelling aspect of the Fidelity Multi-Asset Income Fund is its ability to protect against losses and hedge against volatility. This year, convertible bonds have rebounded dramatically and are the best-performing class within fixed income, Kramer said.
Persons: Fidelity's Adam Kramer, Kramer, Adam Kramer, Morningstar, , Ford O'Neil, Ramona Persaud, Kramer doesn't, what's, he's Organizations: Fidelity Investments, Fidelity, Fund, Microsoft, Apple
MANILA, July 24 (Reuters) - Philippines President Ferdinand Marcos Jr on Monday touted his administration's successes over the past year, including battling inflation and steering the economy back on track, but said a number of economic challenges lie ahead. After more than a year in office, buffeted by soaring inflation that has dented economic growth, the government is now "stabilising the prices of all critical commodities", Marcos said. "Inflation rate is moving in the right direction," he said in his second state of the nation address. Developing the long-neglected farm sector, which contributes 10% of the country's economic output, is a priority for Marcos, who also helms the agriculture ministry. The Philippines remains vulnerable to global price shocks because it buys a sizeable portion of its rice overseas, and relies on imports for most of its fuel requirements.
Persons: Ferdinand Marcos Jr, Marcos, helms, Michael Ricafort, Enrico dela Cruz, Eloisa Lopez, Bernadette Baum, Mark Potter Organizations: Rizal Commercial Banking Corp, Asia's, Thomson Locations: MANILA, Philippines, Philippine, Rizal, China, Manila, United States
The world’s most shark-filled waters
  + stars: | 2023-07-24 | by ( Maureen O'Hare | ) edition.cnn.com   time to read: +7 min
There were just 57 confirmed unprovoked shark attacks last year, out of a global population of 8 billion, five of which were fatal. However, some places around the world have much higher rates of shark attacks than others, with the numbers rising with the passing years. Let’s take a look at the locations worldwide with the highest rates of shark attacks between 2012 and 2021 and the reasons they’ve become hot spots. South Africa (29 bites)South Africa had 29 unprovoked shark bites between 2012 and 2021, of which six were fatal. South Carolina (45 bites)None of the 45 unprovoked attacks in South Carolina in the decade-long time frame were fatal.
Persons: Let’s, , Gavin Naylor, Gansbaai, they’ve, ” Neil Hammerschlag, , ” Richard Peirce, orcas, Brad Leue, Chuck Bangley, Fernando de Noronha, Katarina Zarutskie, ” Zarutskie Organizations: CNN, Discovery, Discovery Channel, Warner Bros ., ISAF, Volusia, Florida Program, Shark Research, orcas, Conservation, University of Miami Rosenstiel School, Shark Conservation Society, International, of Oceanography, Aquaculture Locations: New York, Florida, Florida’s Volusia County, , Smyrna Beach, Australia, New South Wales, Western Australia, Victoria, Hawaii, Windward Oahu, South Africa, Carolina, South Carolina, Charleston, Horry, Beaufort, ” California, San Diego, California, Brunswick County, North, North Carolina, Madagascar, Mauritius, Réunion, Brazil, Pernambuco, Bahamas, Staniel Cay
The study — by Opportunity Insights, a group of economists based at Harvard who study inequality — quantifies for the first time the extent to which being very rich is its own qualification in selective college admissions. The result is the clearest picture yet of how America’s elite colleges perpetuate the intergenerational transfer of wealth and opportunity. Less than 1 percent of American college students attend the 12 elite colleges. For the several elite colleges that also shared internal admissions data, they could see other aspects of students’ applications between 2001 and 2015, including how admissions offices rated them. Share of admitted students who were recruited athletes at selected elite colleges Recruited athletes at elite colleges were much more likely to come from the highest-earning households.
Persons: , Susan Dynarski, Raj Chetty, John N . Friedman of Brown, David J . Deming, Christopher L, , Neil Gorsuch, didn’t, Ivy, Dynarski, Pell, You’re, Michael Bastedo, Bastedo, John Morganelli, don’t, It’s, you’re, Jana Barnello, Stuart Schmill, “ It’s Organizations: Elite College, Ivy League, Opportunity, Harvard, Stanford, Duke, University of Chicago, Harvard Graduate School of Education, Princeton, Notre Dame, Public, University of Texas, University of Virginia, Fortune, University of Michigan, New York Times, Dartmouth, University of Michigan’s School of Education, Cornell, College Board, Brown, University of California Locations: M.I.T, America, Northwestern, N.Y.U, Austin, United States, California, U.C.L.A
Ryanair cautious about winter travel after quarterly profit soars
  + stars: | 2023-07-24 | by ( ) www.cnbc.com   time to read: +3 min
Ryanair on Monday struck a cautious tone about travel demand for the rest of the year and cut its passenger growth forecast due to Boeing delivery delays after its quarterly profit flew past pre-pandemic levels. Ryanair shares, up 26% so far this year on the back of a post-pandemic travel boom, were 4.3% lower at 15.74 euros in early trade. That compared to 170 million euros a year ago when the travel rebound began and beat the previous high for the first quarter of its fiscal year, 397 million euros in 2017. A company poll of analysts had expected a 620 million euro profit. Ryanair said it remained cautiously optimistic about a modest increase in full-year profit and that it hoped to be in a position to provide more meaningful guidance in November.
Persons: Michael O'Leary, " O'Leary, O'Leary, AeroSystems, Neil Sorahan, Sorahan Organizations: Ryanair, Boeing, Irish, Reuters, easyJet Locations: Europe
Reeves Callaway, who started out driving fast cars and then focused on creating them, including one that set a speed record of 254.76 miles per hour in 1988, died on July 11 at his home in Newport Beach, Calif. His company, Callaway Cars, said the cause was injuries from a fall. Mr. Callaway and his company were well known in the world of high-performance automobiles custom-made for deep-pocketed clients. Soon the modified cars coming out of his small shop were drawing attention in motor magazines and in speed competitions. A key moment came in the mid-1980s, when Alfa Romeo, the Italian auto company, sought him out.
Persons: Reeves Callaway, Callaway, Alfa Romeo, , Organizations: Callaway, Mr, Porsche, Ferrari, Maserati Locations: Newport Beach, Calif, Old Lyme, Conn, Italian
Peculiar dead white dwarf star has two faces
  + stars: | 2023-07-24 | by ( Ashley Strickland | ) edition.cnn.com   time to read: +5 min
CNN —Astronomers have made a first-of-its-kind discovery — a white dwarf star with two completely different faces. White dwarfs are burnt remains of dead stars. The newly discovered white dwarf has two sides, one made of hydrogen and the other made of helium. Researchers have nicknamed the star Janus, for the Roman god of transition, which has two faces. “We might have possibly caught one such white dwarf in the act.”As the white dwarf cools over time, the heavier and lighter materials may mix together.
Persons: Janus, , Ilaria Caiazzo, Caiazzo, Neil Gehrels, ” Caiazzo, , K, Miller, James Fuller Organizations: CNN —, California Institute of Technology, Observatory, Gran, Canarias, Keck, Caltech Locations: Canary, Maunakea, Hawaii
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