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☆ Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Delta Air Lines , which said fallout from the outage cost the company $550 million, is seeking damages from CrowdStrike and Microsoft. Software from CrowdStrike Check Point , SentinelOne and others in the endpoint-protection market currently depend on kernel mode. But an application in kernel mode that fails can cause all of Windows to crash. The Microsoft executive said removing kernel access in Windows would only solve a small percentage of potential problems. "We will share further updates on these conversations following the event," Microsoft Corporate Vice President Aidan Marcuss wrote in a blog post.

Persons: CrowdStrike, Aidan Marcuss Organizations: Delta Airlines, Microsoft, Delta Air Lines, CNBC, Windows, Apple, Rust Foundation, Microsoft Corporate Locations: Los Angeles, Airlines, Redmond , Washington, SentinelOne, macOS

☆ Engineers have found a way to bootstrap their way to smarter AI models as they wait for Chat GPT-5
▼ + stars: | 2024-08-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Read previewChat GPT-5, the next version of OpenAI's language model that changed everything, is on the way. As AI developers wait to test GPT-5, some have found a new way to bootstrap their way to more advanced AI without an entirely new model. Fewer idle GPUs then translate to more affordable computing, as Davis explained on the No Priors podcast released Thursday. When Davis and his co-authors used the compound AI method, the layered model produced the correct answer 37% of the time — a nearly 10-fold increase. "I think people are getting more sophisticated at thinking about cost in more of a life-cycle way," Davis said.

Persons: —, Jared Quincy Davis, Davis, Sarah Guo, Elad Gil, iterating Organizations: Service, Business, Foundry, Lightspeed Venture Partners, Sequoia Capital, Systems

☆ Lucy Guo's second act: After the 29-year-old left Scale AI, she has the 'itch to build' something new
▼ + stars: | 2024-08-23 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

But Lucy Guo, the 29-year-old cofounder of data labeling startup Scale AI blurs the line between the two archetypes. Yet this is the persona many have come to know since Guo left Scale AI in 2018. But, midway through the program, they pivoted again, this time to what would eventually become Scale AI. Lucy GuoThe idea of Scale AI came from a suggestion by one of their YC roommates, who proposed creating an "API for humans." Advertisement"The itch to build"After Scale AI, Guo decided to apply her learnings to a new entrepreneurial opportunity: investing.

Persons: —, Lucy Guo, Billie Eilish, Charlie XCX, Guo, she's, Adam D'Angelo, Alexandr Wang, Alex, Wang, Guo's, Cruise, Dave Fontenot, Kylie Jenner's lipsticks, Jake Paul's, Passes Organizations: Service, Business, Fry's Electronics, Carnegie Mellon University, Thiel, Facebook, Multicoin, Bond Locations: Miami, Fremont , California, San Francisco, China, hackathons, Quora

☆ Menga Dolmen: Engineering behind Neolithic monument revealed
▼ + stars: | 2024-08-23 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

CNN —Each of the 32 colossal stones that make up the Menga Dolmen, a 5,600-year-old megalithic monument in southern Spain, is many times bigger than the largest megaliths at Stonehenge, the most famous Neolithic wonder. The upright stones that make up the walls of the chamber were not perfectly vertical, tilting inward at a gentle angle to make the building narrower at the roof than at the floor and creating a trapezoid-shaped chamber. The team calculated that each of the upright stones lean inward at a largely uniform angle of 84 to 85 degrees. The upright stones that form the walls also lean sideways against one another at a consistent angle. The Menga Dolmen sits atop a hill near Antequera, Spain.

Persons: ”, Leonardo García Sanjuán, “, it’s, “ I’d, Mike Parker, Pearson, ” Parker, Pearson wasn’t, José Antonio Lozano Rodríguez, plumb, Miguel Ángel Blanco, García Sanjuán, Parker, Leonardo García, We’ve Organizations: CNN, Boeing, Spain’s University of Seville, University College London, Oceanographic Center Locations: Spain, Europe, Antequera

☆ With $20 Billion Weapons Deal, U.S. Aims to Help Israel and Deter Iran
▼ + stars: | 2024-08-23 | by ( Lara Jakes | Johnatan Reiss | ) www.nytimes.com time to read: +6 min

Top NewsFor months, the Biden administration waited to formally approve $20 billion in future American weapons sales to Israel, including F-15s and medium-range missiles. Almost none of the arms — which also include tank ammunition, tactical vehicles and mortars — are expected to be delivered to Israel for several years at least. The White House has tried to contain domestic opposition to arms for Israel in Congress, while attempting to keep the war against Hamas from escalating into a wider regional conflict. “We will continue to do what is necessary to ensure Israel can defend itself in the face of these threats.”Image An Israeli F-15 in southern Israel last year. Here is a look at the arms sales that the Biden administration notified Congress on Aug. 13 that it has approved.

Persons: Biden, Antony J, Blinken, ”, “, Jack Guez, Benjamin Netanyahu, Israel, —, Bradley Bowman, Mr, Bowman, Israel “, Northrop Grumman, AMRAAMs Organizations: Department, Agence France, Getty, U.S . Army, Foundation of Defense of Democracies, Boeing Corp, Defense Security Cooperation Agency, Dynamics, Northrop, Street Journal, CNN, State Department, Tactical, Oshkosh Corp, General Dynamic Ordnance, U.S, AIM, RTX Corp Locations: Israel, Gaza, United States, Congress, Israeli, Washington, Iran, Ukraine, Russia

☆ DNA analysis of Jamestown burials reveals governor’s family scandal
▼ + stars: | 2024-08-23 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +7 min

Recently, DNA analysis of two skeletons from unmarked graves in a Jamestown church revealed that both people were related to West. That connection led researchers to documents proving that one of the men — Captain William West — was illegitimate, born to Thomas West’s spinster aunt, Elizabeth. An X-ray scan (left) of the spangled military sash fringed in silver (right) found in the grave of Captain William West. Jamestown Rediscovery Foundation (Preservation Virginia)Unmarked burials in colonial JamestownResearchers found four unmarked graves at Jamestown in 2014, in an Anglican church that the colonists used from about 1608 to 1616. MPI/Archive Photos/Getty ImagesWhile there wasn’t enough DNA to show immediate family ties, Wenman and Captain West both shared the haplogroup H10e.

Persons: Thomas West, Captain William West —, Thomas West’s, Elizabeth, Captain West, James Fort, ”, Christine Lee, Lee, Captain William West, Sir Ferdinando Wenman, —, Kari Bruwelheid, ” Bruwelheid, Éadaoin Harney, William West’s, ’, Ferdinando Wenman’s, ” Harney, West’s, Mary Blount, West “, West, Governor Thomas West, Ferdinando Wenman, Michael Lavin, ” Lavin, ” Mindy Weisberger Organizations: CNN, Jamestown Rediscovery, Preservation, University of Mississippi, spangled, Jamestown, Smithsonian National Museum of, Harvard University, MPI, Governor, Jamestown Rediscovery Foundation, Scientific Locations: Jamestown , Virginia, Jamestown, England, Preservation Virginia, Wenman, West, Washington ,, North America

☆ A16z's Jennifer Li went from business school to computer science to the startup world. Here's how she parlayed that experience into AI investing.
▼ + stars: | 2024-08-20 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

Read previewJennifer Li didn't know from the get-go that she was interested in computer science and software engineering. AdvertisementIn school, Li made the unusual jump from business to computer science. Related storiesShe studied technology commercialization and management at Rensselaer Polytechnic Institute, a well-known science and engineering school in upstate New York, and later earned another master's degree at Carnegie Mellon University in computer science. Both of her parents are engineers, and Li said that she began exploring the world of computer science and engineering to satisfy a curiosity of how things are created. Computer science helped with that system of thinking."

Persons: —, Jennifer Li didn't, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Li, she's, Kleiner Perkins, Mamoon Hamid, Andy Chen, Asheem, chatted, we're, that's Organizations: Service, Business, Silicon Graphics, Shanghai University of Finance, Economics, Rensselaer Polytechnic Institute, Carnegie Mellon University, Cisco, Zoom, a16z Locations: a16z, China, New York, San Francisco, AppDynamics, Solvvy

☆ Harris and Trump both hate inflation. Their economic proposals could cause prices to go higher
▼ + stars: | 2024-08-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Both candidates’ plans would probably raise the deficit and increase demand, including through government spending and tightening the labor market, Joe Brusuelas, chief economist at RSM US, told CNN via email. Trump has so far not released as detailed an economic plan as Harris. Risks of fueling demandA central part of Harris’ economic plan is making housing more affordable. “The problem right now is too many people chasing too few houses,” Justin Wolfers, professor of public policy and economics at the University of Michigan, told CNN. Economists have told CNN that businesses would be forced to raise wages and prices.

Persons: what’s, Kamala Harris, Donald Trump, Harris, Trump, Joe Brusuelas, Brusuelas, Harris ’, ” Marc Goldwein, ” Goldwein, “, ”, Biden, Joe Biden, ” Justin Wolfers, Michelle Holder, Holder, …, ’ Trump, ” Harris Organizations: CNN, RSM, Budget, Child Tax, “, Federal Reserve, Tax Foundation, Social Security, University of Michigan, John Jay College, Center, American Progress Fund, Peterson Institute for International Economics, National Guard Locations: ”, New York, China

☆ Burned and uninsured: Wildfires are leaving California’s housing market in trouble
▼ + stars: | 2024-08-18 | by ( Shania Baweja | Taylor Galgano | ) edition.cnn.com time to read: +8 min

That’s made home insurance increasingly unaffordable or even inaccessible – and that’s leaving more people in the same position as the Daneaus. California’s largest insurer, State Farm, requested a 30% rate increase for its homeowner’s line last month. Last year, California Insurance Commissioner Ricardo Lara reached an agreement with insurers with an aim to cover approximately 85% of properties in high-risk areas. “[My insurance plan] wasn’t canceled but my insurance company increased the rates quite a bit,” she said. But he cautioned there’s no guarantee of that, leaving homeowners like the Daneaus grappling with uncertainty.

Persons: Los Angeles CNN —, Michael, Kristy Daneau’s, Kristy, Michael Daneau, Kristy Daneau, That’s, “ We’re, ” Michael, ”, aren’t, Justin Sullivan, California’s, it’s, ” Michael Daneau, Ricardo Lara, Kristy Daneau's, what’s, Steve Hawks, Woolsey, Angela Wilson, LAEPF, Wilson, Brent Woodworth, there’s, “ I’m, we’ve, CNN’s Camila Bernal, Sarah Moon Organizations: Los Angeles CNN, Gas & Electric, Insurance Information Institute, California Department of Insurance, Farm, State, CNN, FAIR, California FAIR, California, Golden State, The Insurance Institute for Business & Home Safety, Institute for Business & Home Safety, for Business & Home, Los, Emergency Preparedness Foundation Locations: Cohasset, California, Paradise , California, Santa Monica, Malibu

☆ How much is too much to spend on jeans?
▼ + stars: | 2024-08-18 | by ( Fiona Sinclair Scott | ) edition.cnn.com time to read: +8 min

Of course, there were the aghast social media comments, those are to be expected, but the moment also inspired a reasonable question: How much is too much to spend on jeans? These jeans are something of an outlier, having been designed — undoubtedly — with celebrities and the 1% in mind. Cheaper options are plentiful across the market — from classic $100 Levi’s to newer denim brands, such as MUD Jeans or ELV Denim, emphasizing their sustainable or circular credentials (jeans in this category tend to be priced around $200 to $500.) A brief buyer’s guideNew York-based stylist and newsletter author Becky Malinsky wearing Auralee jeans. “I feel, personally, there are many sustainable brands out there that are producing a really good pair of jeans for around $150 to $200.

Persons: Blake Lively, Valentino, Porter, Ssense, Jean Paul Gaultier, Ralph Lauren, Becky Malinsky, ”, “, don’t, Malinsky, jean I, it’s, Sid Marshall, jean, Eric Charbonneau, Sandra Capponi, Ani Wells, Wells, …, you’re, can’t, Kurt Cobain’s Organizations: CNN, Gabbana, Citizens, Humanity, Transformers Foundation Locations: New York

☆ New Zealand charity distributes candies with potentially lethal levels of methamphetamine
▼ + stars: | 2024-08-14 | by ( Charlotte Kwan | Charlotte Kwan Is An Intern On Nbc News S Asia Desk. | ) www.nbcnews.com time to read: +2 min

A New Zealand charity that works with low-income people says it unknowingly distributed candies containing potentially lethal levels of methamphetamine. The New Zealand Drug Foundation, which tested the candies that were still on the premises, said each one contained about 3g of methamphetamine, up to 300 times the level someone might usually take. The group said people who had started to consume the candies reported a bitter taste and feeling unusual. In the meantime, the NZ Drug Foundation warned consumers to avoid Rinda brand pineapple candies. “We don’t know how widespread these contaminated lollies are,” Helm said, “so we recommend not eating any Rinda brand pineapple lollies if you have them.”

Persons: Sarah Helm, “, ” Rinda, Steven Teh, Ben Birks Ang, ” Helm, ” Organizations: Auckland City Mission, Malaysian, New Zealand Drug Foundation, Associated Press, New, Food Industries, ”, NZ Drug Foundation, AP, Zealand, Authorities Locations: Zealand, Auckland, New Zealand, ”, Malaysian

☆ Game of inches: Lobster fishermen say tiny change in legal sizes could disrupt imperiled industry
▼ + stars: | 2024-08-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

Lobster fishing is a game of inches, and the number of inches is about to change. Fishing regulators are instituting a new rule that lobster fishermen must abide by stricter minimum sizes for crustaceans they harvest. The changes do not apply in Canada, which has an even larger lobster fishing industry than the U.S. Some scientists who study the fishery have supported the minimum size change. But the lobster industry sees a different story, said Patrice McCarron, executive director of the Maine Lobstermen’s Association, the oldest and largest fishing industry association on the East Coast.

Persons: Gerry Cushman, ” Cushman, ”, Caitlin Starks, Robert F, Erica Fuller, ” Fuller, “, Barre Campbell, Geoff Irvine, ” Irvine, John Sackton, Sackton, Richard Wahle, Patrice McCarron, lobsterman, Jared Golden, Golden Organizations: Associated Press, Atlantic States Marine Fisheries Commission, Conservation Law Foundation, Scientists, Atlantic, Fisheries, Oceans, Lobster Council of Canada, University of Maine, Maine Lobstermen’s Association, Democratic Locations: PORTLAND, Maine, New England, Port Clyde, Canada, Head , Maine, of Maine, Gulf of Maine, U.S, Oceans Canada, China, East Coast

☆ Meet the millennials who got student-loan forgiveness and now have the freedom to save for retirement, grow their families, and consider going back to school
▼ + stars: | 2024-08-14 | by ( Ayelet Sheffey | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +17 min

Scott M. Smith, 40, wasn't expecting student-loan forgiveness. Scott M. Smith, 40, received student-loan forgiveness through PSLF. AdvertisementThe freedom to go back to schoolFor Paul Smylie, 39, student-loan forgiveness means something else. Smylie's student-loan forgiveness is giving him the financial freedom to consider doing just that. In a rule first established under President Barack Obama, any student-loan borrower who can prove they are totally and permanently disabled is eligible for student-loan forgiveness.

Persons: Scott M, Smith, wasn't, — Smith, servicer, hadn't, —, who's, PSLF, Joe Biden's, Millennials who've, Zers, millennials —, Gen Xers —, Paul Smylie, Smylie, Gen Xers, Chloe Moore, Financial Staples, Keenan Casey, CiCora Leigh, Leigh, Cicora Leigh, Barack Obama, Beverley —, Beverley, Grayson Hofferber, Hofferber, they'll, that's, someone's, Casey Organizations: Service, Public, Business, Education Department, Federal Reserve, SAVE, Appeals, Associated Press, Gallup, Lumina Foundation, millennials, Financial, Army, University of Mississippi, Veterans Affairs, BI, Millennial Wealth Management Locations: Mississippi, Beverley, forbearance, deferment

☆ Inside the tax battles Tim Walz fought — and won — in Minnesota
▼ + stars: | 2024-08-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Kevin Mohatt | ReutersSix years before Tim Walz was tapped to be Vice President Kamala Harris' running mate, he was busy running for governor of Minnesota. Eric Gibson, then president of Ultra Machining Company, recalled asking Walz whether the Democrat believed that high corporate and state taxes hurt workers. Minnesota currently taxes corporate income at 9.8%. The nonpartisan Tax Foundation says that's the highest corporate tax rate of any state in the nation. Minnesota Governor Tim Walz speaks next to Wisconsin Governor Tony Evers at Yellowjacket Union, at University of Wisconsin-Superior, in Superior, Wisconsin, U.S. March 2, 2022.

Persons: Kamala Harris, Tim Walz, Kevin Mohatt, Walz, Eric Gibson, Gibson, Geoff Baker, Baker, Douglas Loon, Kamala, Andrew Harnik, wasn't, Harris, Tony Evers, Evelyn Hockstein, Loon, Minn, Bill George, George said Walz, George Organizations: Democratic, Minnesota, Chippewa, Reuters, Ultra, Democrat, CNBC, McFarland Truck Lines, Foundation, Democrats, Senate, Minnesota Chamber of Commerce, Fortune, UnitedHealth, U.S, Gov, Getty, Minnesotans, Tax, Yellowjacket Union, University of Wisconsin, Mayo Clinic Locations: Eau Claire , Wisconsin, U.S, Minnesota, Gull Lake, McFarland Truck Lines . Minnesota, Gull, Glendale , Arizona, Wisconsin, Superior, Superior , Wisconsin, St, Paul, Rochester, Minn

☆ Trump and Harris both want no taxes on tips. Here's why policy experts don't like the idea
▼ + stars: | 2024-08-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump. Former President Donald Trump and Vice President Kamala Harris both want to end taxes on tips — and some policy experts have already criticized the idea. Her comments come roughly two months after Trump shared a similar idea, also at a rally in the service economy hotbed. Generally, tipped workers are lower-income individuals, and some 37% weren't subject to federal income tax in 2022, the report found. Not taxing tips is "a fairly narrowly targeted tax exemption," said Garrett Watson, senior policy analyst and modeling manager at the Tax Foundation.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Vance, Walz, Garrett Watson Organizations: Republican, Finance, Yale University, Tax Locations: Las Vegas, Nevada

☆ The 10 most affordable U.S. states for retirement in 2024: Half are in the South
▼ + stars: | 2024-08-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

For the second year in a row, West Virginia is the most affordable state for retirement in the U.S., according to financial services company Bankrate's best and worst states for retirement report, which published last month. The state's affordability ranking comes from "a low cost of living, low property taxes and affordable homeowners insurance," the report said. West Virginia is followed by Mississippi and Indiana, rounding out the top three. Here are the 10 most affordable states in the U.S. for retirement, according to Bankrate:The report's data came from a variety of sources, including the Tax Foundation and the Council for Community and Economic Research. 1 most affordable stateOn average, West Virginia's cost of living is 9% lower than the rest of the country, according to RentCafe.

Persons: MoneyGeek Organizations: Tax Foundation, Council for Community, Economic Research, Social Security, West Locations: lounging, West Virginia, U.S, Mississippi, Indiana

☆ High doses of meth found in candy handed out to over 300 families in New Zealand
▼ + stars: | 2024-08-13 | by ( Story Associated Press | ) edition.cnn.com time to read: +2 min

A charity working with homeless people in Auckland, New Zealand unknowingly distributed candies filled with potentially lethal doses of methamphetamine in its food parcels after the sweets were donated by a member of the public. The City Missioner, Helen Robinson, said eight families, including at least one child, had reported consuming the contaminated candies since Tuesday. Auckland City Mission was alerted Tuesday by a food bank client who reported “funny-tasting” candy. It was not clear how many had been distributed in that time and how many were made of methamphetamine. Some of those who had received the food parcels were clients of the charity’s addiction service and the news that drugs had been distributed had provoked distress.

Persons: Ben Birks Ang, Birks Ang, Helen Robinson, Robinson, “, ”, ” Robinson, Rinda Organizations: Auckland City Mission, New Zealand Drug, Malaysian, Mission, Staff, Associated Press Locations: Auckland , New Zealand, Auckland, New Zealand

☆ ‘Sponge’ cities combat urban flooding by letting nature do the work
▼ + stars: | 2024-08-13 | by ( Christy Choi | ) edition.cnn.com time to read: +12 min

Turenscape/Courtesy The Cultural Landscape FoundationYu’s proposal is this: Create areas with porous earth where local plants can thrive with little or no maintenance. But whether this latest flooding crisis demonstrates the limitations of China’s sponge cities, or supports the case to expand them, is a matter of debate. Turenscape/Courtesy The Cultural Landscape FoundationTurenscape planted 5,600 seedlings of 360 local species, including rare trees indigenous to Thailand’s central river basin. Turenscape/Courtesy The Cultural Landscape FoundationThis may be another reason Yu’s services have been sought outside China. Last year, The Cultural Landscape Foundation awarded Yu the $100,000 Oberlander Prize in recognition of his pioneering work.

Persons: Kongjian Yu, Yu, ” Yu, Turenscape, Xi Jinping, Faith Chan, ”, Chan, Elizabeth Mossop, ” Mossop, “ Organizations: CNN, redwoods, UK’s University of Leeds, Research, Global Times, University of Nottingham, Thai, Arsomsilp, Environmental, Landscape Foundation, University of Technology Sydney’s School of Design Locations: Nanchang, China's Jiangxi, China, Qinghuandao, China's Hebei province, Wuhan, Hainan, Sanya, China's, Guangdong, Turenscape, University of Nottingham Ningbo China, ”, Bangkok

☆ The 10 best companies that hire, promote and train high school graduates: 'It's a launchpad for your career'
▼ + stars: | 2024-08-13 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

U.S. high school graduates looking for entry-level work might consider starting out at a company appearing on a new ranking from the American Opportunity Index. Released earlier this month, the list named 50 large companies as the best places for people with a high school diploma to launch their careers. The index scored companies based on three metrics: how likely they are to hire entry-level employees, promote them from within and set them up to land better-paying jobs when they leave. "We didn't see a whole lot out there for the 40% of high school graduates who aren't going off to post-secondary education immediately — most of whom have to find some sort of work," he continues. Rather than survey the companies, the index analyzed the career paths of around 5 million workers from 2018 until 2022 to make its assessment.

Persons: who've, Rajiv Chandrasekaran, aren't, Chandrasekaran Organizations: American, Schultz, Foundation, American Opportunity, Glass Institute, Harvard Business School, Walgreens, Financial Services, Gap Inc, Goodyear Tire, Starbucks Retailers, CNBC

☆ Bill Gates's visits to Warren Buffett were an escape from a jam-packed schedule, new book says
▼ + stars: | 2024-08-13 | by ( Jordan Hart | Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Bill Gates often visited Warren Buffett to escape his tightly scheduled life, a new book says. Gates's workday was meticulously planned, with activities broken into five-minute increments. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Every moment of the 68-year-old Microsoft cofounder's workday was meticulously planned.

Persons: Bill Gates, Warren Buffett, —, Anupreeta Das Organizations: Gates Foundation, Service, Microsoft, New York Times, Business

Blink Fitness, a budget-friendly gym chain owned by luxury fitness company Equinox Group, has filed for Chapter 11 bankruptcy protection. The fitness brand, with more than 100 centers in the U.S., is the latest chain to seek bankruptcy post-pandemic, following companies such as New York Sports Club, 24 Hour Fitness and Gold's Gym. Earlier this year, Equinox also launched a $40,000 annual gym membership aimed at its most affluent member base in an effort to improve its finances as well. Unlike Blink, Planet Fitness reported strong membership growth of 7% year over year in its second quarter to reach a total of 19.7 million members. Planet Fitness shares recently hit a 52-week high, reaching levels not seen since May 2023.

Persons: Guy Harkless, Blink, — Organizations: Equinox Group, New York Sports Club, CNBC, Fitness, Planet Fitness Locations: U.S

☆ Starbucks and activist Elliott met last week to discuss settlement
▼ + stars: | 2024-08-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Laxman Narasimhan attends the 2023 TAAF Annual AAPI CEO Dinner at The Pool on September 26, 2023 in New York City. Activist Elliott Management and Starbucks ' board of directors are in settlement talks, according to people familiar with the matter. Elliott and Starbucks' directors met last week to discuss the activist's settlement offer, said the people, who requested anonymity to discuss private matters freely. CNBC's David Faber reported Monday that settlement talks, if successful, could result in Elliott managing partner Jesse Cohn becoming a Starbucks director. Elliott has amassed a Starbucks stake valued at up to $2 billion, CNBC previously reported.

Persons: Laxman Narasimhan, JP Yim, Elliott, CNBC's David Faber, Jesse Cohn, Cohn, Howard Schultz Organizations: Asian American Foundation, Elliott Management, Starbucks, CNBC, Wall Street, Elliott, Texas, Southwest Airlines Locations: New York City, Salesforce, China

☆ Both Trump and Harris want to eliminate taxes on tips. This is how it could affect workers
▼ + stars: | 2024-08-12 | by ( Tami Luhby | Matt Egan | ) edition.cnn.com time to read: +6 min

But the move likely wouldn’t help many tipped workers, largely because a sizable share don’t earn enough to pay federal income taxes, experts say. Harris would couple her plan to eliminate taxes on tips with a push for Congress to raise the minimum wage, a Harris campaign official said. Many states and municipalities have higher minimum wages and minimum tipped wages, while some states have eliminated lower minimum wages for tipped workers. Just excluding tips from federal income taxes could reduce revenues by at least $107 billion over 10 years, according to the Tax Foundation. Just getting rid of federal income taxes on tips would lead to a loss of about half that size.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Republican Sen, Ted Cruz of, Democratic Sens, Jacky Rosen, Catherine Cortez Masto, it’s, ” Ernie Tedeschi, Biden, ”, Erica York, ” York, Tedeschi, Ted Pappageorge, “, Pappageorge, Bethany Khan, CNN’s Aaron Pellish Organizations: CNN, Republican, Social Security, Democratic, Yale University, Budget, White House Council, Economic Advisers, Tax Foundation, Culinary Workers Union Local, Culinary Union Locations: Las Vegas, Ted Cruz of Texas, Nevada, York

☆ Vance wants to raise the child tax credit to $5,000. Here's why that could be difficult
▼ + stars: | 2024-08-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Sen. JD Vance of Ohio, former President Donald Trump's GOP running mate, wants to more than double the child tax credit. "I'd love to see a child tax credit that's $5,000 per child. More from Personal Finance:Tim Walz vs. JD Vance: Here's what the candidates could mean for your walletHere's how Kamala Harris' running mate Tim Walz could help shape the child tax creditThe expanded child tax credit failed in the Senate. Here's what it means for familiesWithout action from Congress, the maximum child tax credit will drop from $2,000 to $1,000 once Trump's 2017 tax cuts expire after 2025. During the pandemic, lawmakers temporarily increased the maximum child tax credit from $2,000 to either $3,000 or $3,600, depending on the child's age.

Persons: Sen, JD Vance, Ohio, Donald Trump's, Garrett Watson, Tim Walz, Kamala Harris Organizations: Republican, NMC, Wollard, Donald Trump's GOP, CBS, Tax, Finance, Columbia University Locations: Eau Claire , Wisconsin

☆ Trump Media’s revenue remains very tiny as it launches Truth+ streaming
▼ + stars: | 2024-08-12 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Even though Trump Media & Technology Group (DJT) is valued at $5 billion, the Truth Social owner revealed Friday evening it made just $837,000 in revenue last quarter. But Trump Media is hoping to turn things around by building a streaming business catering to conservatives. Trump Media wants ‘neglected’ contentLast week, Trump Media launched Truth+, a TV streaming platform available on Android, iOS and the Web versions of Truth Social. Trump Media said it will have the right to secure the source code in the future for the streaming technology. Trump not only serves as the chairman of Trump Media, he is the dominant shareholder, with 114.75 million shares.

Persons: Donald Trump’s, Trump, Kamala Harris, ‘, “, ”, Devin Nunes, ” Nunes Organizations: New, New York CNN, Trump Media & Technology, Trump Media, Trump, White House, Fox News, ” Trump Media, Big Tech, Amazon, Netflix, Republican, ” Trump Locations: New York, Silicon Valley

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