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I’m tripping over their bodies,” said Sydney Seiler, the U.S. national intelligence officer for North Korea from 2020 to 2023. “Kim Jong Un is selling North Korean soldiers as cannon fodder mercenaries,” South Korean Defense Minister Kim Yong-hyun said last month. It’s an entirely new environment for the North Korean soldiers, who live in one of the most isolated and repressive countries in the world. The Russian military is teaching the North Korean soldiers about 100 key military terms, but “North Koreans are having a difficult time learning Russian,” South Korean lawmakers Lee Sung-kwon and Park Sun-won said last month. North Korean soldiers’ inexperience could be another point of friction and a major factor in how they are deployed.

Persons: Kim Jong Un, Vladimir Putin, Putin, ”, Sydney Seiler, Seiler, Gavriil, Joe Biden, Yoon Suk Yeol, Shigeru Ishiba, Kim, “ Kim Jong, Kim Yong, hyun, John Hardie, Lee Sung, Bruce Bennett, ” Hardie, Bennett, ” Bennett, Edward Howell, “, ” Howell, Stella Kim Organizations: Ukraine, North, NBC News, U.S, The State Department, Korea’s National Intelligence Service, NBC, Center for Strategic, International Studies, Getty Images, Economic Cooperation, South Korean Defense, Pentagon, Politico, South Korea’s National Intelligence Service, North Korean, South Korean National Intelligence Service, AFP, Getty, Korean, Battalion, Russian Ministry of Defense, Foundation for Defense of Democracies, South, Sun, Rand Corp . Communication, Chatham House Locations: SEOUL, South Korea, Ukraine, Moscow, Russia, U.S, North Korea, Russian, Kursk, Korean, Korea, Washington, Pyongyang, Getty Images North Korea, South, Asia, Lima , Peru, The U.S, California, Ukrainian, London, Seoul, Hong Kong

☆ Losing GPS could cost billions, so the Space Force is having companies like Astranis build a backup network
▼ + stars: | 2024-11-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

Pentagon leaders believe those losses are a conservative estimate, leading the U.S. Space Force to kick off a roughly $2 billion satellite program known as the Resilient Global Positioning System. Called R-GPS for short, the program is intended to provide an alternative, backup network for the current satellite system. Last month, the branch awarded four companies with contracts for R-GPS design concepts: Astranis, Axient, L3 Harris and Sierra Space. The R-GPS planSpace Force used a novel Pentagon funding authority, called "Quick Start," to get the R-GPS program going. A rendering of a Nexus satellite in orbit.

Persons: Justin Deifel, Deifel, Harris, We've, John Gedmark, Astranis, Gedmark, they've, … We've Organizations: U.S . Air Force, GPS, Commerce Department, Pentagon, U.S . Space Force, Force's, Systems Command, CNBC, Space Force, Sierra Space, U.S, Department of Defense, Force, of Defense Locations: U.S, Russia, China, Sierra

☆ Anthony Davis, Zion Williamson and 9 other NBA players ready for big years
▼ + stars: | 2024-10-25 | by ( John Hollinger | ) www.nytimes.com time to read: +16 min

The Basketball 100 The story of the greatest players in NBA history. In 100 riveting profiles, top basketball writers justify their selections and uncover the history of the NBA in the process. I had the Most Improved Player (Maxey), but none of the other 13 players who received votes made my list. Zion Williamson, PF/C, New OrleansThis one is a pure eye-test call: Williamson finished last season playing the best basketball of his career. (Photo of Anthony Davis and Zion Williamson: Tyler Kaufman / Getty Images)

Persons: Tyrese Maxey, wasn’t, James Harden, Maxey, — I’ll, Anthony Edwards, Chet Holmgren, Scottie Barnes, Charlotte’s Mark Williams, Davis, He’s, LeBron James ’, Anthony Davis, Dyson Daniels, Daniels, Zion Williamson, Williamson, Zion, Amen Thompson, Thompson, Josh Giddey, Chicago Giddy, he’s, Jalen Williams, Williams, it’s, RJ Barrett, Barrett, Tre Mann, Miles McBride, John Jones, Charlotte Mann, Mann, Charlotte’s, there’s, Julian Strawther, Denver I’m, Nuggets hadn’t, Kentavious Caldwell, Cam Thomas, Brooklyn I’m, Thomas, Dennis Schröder’s, Thomas ’, Powell, Norm, ”, Leonard, Russell Westbrook, Paul George, Harden, he’ll, Zach Harper, Tyler Kaufman Organizations: Philadelphia 76ers, NBA, Minnesota Timberwolves, Lakers, Denver Nuggets, Davis, SG, Hawks, Pelicans, Houston, League, Chicago, New Orleans, Thunder, Bulls, Oklahoma, Raptors, Knicks, USA, Hornets, Denver, Nuggets, Nets, Brooklyn, Clippers, The Athletic Locations: Atlanta, New Orleans, PF, positionless, Houston, Wembymania, Chicago, Oklahoma City, SF, Toronto, Canada, New York, Gonzaga, Brooklyn, playmaking, Phoenix

☆ North Korea is cozying up to Russia. For China, that may be no bad thing.
▼ + stars: | 2024-10-25 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

North Korea is solidifying ties with Russia, a change from its usual focus on China. AdvertisementRussian President Vladimir Putin on Thursday appeared to confirm reports that North Korea had sent thousands of troops to eastern Russia. "But the Chinese are waiting for an opportunity where North Korea, Russia, and China can come stronger together, and I think North Korea sending the troops to Russia is a testimony to that." AdvertisementFor North Korea, China has long been its most important ally, providing trade, diplomatic support, and military aid to Kim Jong Un. Jim Hoare, a former UK diplomat who was posted to North Korea, told BI that even if China was frustrated by North Korea's increasing closeness to Russia, it should bide its time.

Persons: —, Vladimir Putin, Victor Cha, Jagannath Panda, Sari Arho Havrén, Kim Jong, Havrén, Ali Wyne, Jim Hoare, Hoare Organizations: Analysts, Service, Center for Strategic, International Studies, New York Times, Experts, Stockholm Center, South, Pacific Affairs, Royal United Services Institute, NATO Locations: Korea, Russia, China, North Korea, Ukraine, Washington, Beijing, South Korea, Japan, Eurasia, Pyongyang

You can check your first bag free on Delta flights, saving up to $70 on a round-trip Delta flight per person. The exceptions are flights to South America, as well as transatlantic and transpacific flights, which allow a carry-on bag. Spirit AirlinesFees for checked and carry-on baggageSpirit charges varying fees for checked bags and carry-on bags. Opt for a carry-on bag whenever possible, as most airlines allow at least one free carry-on bag. Oversized bags: Fees for oversized bags depend on the bag's dimensions.

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☆ Want to get into the AI industry? Head to Abu Dhabi.
▼ + stars: | 2024-10-08 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

The UAE's AI minister believes we'll have "centers and nodes of excellence across the world." Last year, the country's wealthiest emirate, Abu Dhabi, launched Falcon — its first open-source large language model. Abu Dhabi's ruling family also controls several of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority and Mubadala Investment Company, a founding partner of MGX. In 2010, New York University launched a branch in Abu Dhabi that has since developed a focus on AI. Its "true strengths lie in the leadership's strategic vision, substantial investments in AI research and compute capacity, and government-led initiatives in industry.

Persons: we'll, —, Omar Sultan Al Olama, Al Olama, Abu Dhabi's, PwC, It's, Mohamed bin, Abu Dhabi, Nancy Gleason, Mohamed Organizations: United, United Arab Emirates, Service, Stanford's Center, Atlantic Council, International Trade Administration, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Atlantic, New York University, University of Artificial Intelligence, Intelligence, NYU Abu Locations: United Arab, Silicon Valley, Malta, Paris, United Arab Emirates, UAE, Silicon, Abu Dhabi, United States, China, Dubai, University, Abu, NYU Abu Dhabi

☆ TensorWave wants to break Nvidia's dominance in AI compute. Here's an exclusive look at the pitch deck it used to raise $43 million.
▼ + stars: | 2024-10-08 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

TensorWave has raised $43 million for its AI cloud service platform. BI got an exclusive look at the 9-slide pitch deck used to secure the funding. AdvertisementTensorWave, a startup providing a cloud platform for AI applications that runs on chips designed by an Nvidia rival, has raised $43 million in funding. AdvertisementThe startup's pitch deck, shared exclusively with BI, states that "buyers desperately need an alternative for AI compute infrastructure." Check out the 9-slide pitch deck TensorWave used to secure the fresh funding.

Persons: TensorWave, —, Darrick Horton, Piotr Tomasik, Tomasik Organizations: AMD, BI, Service, Nvidia, Maverick Capital, Translink Capital, Venture Partners, AMD Ventures Locations: Vegas

An Illinois woman manipulated her cheating boyfriend to believe he was being threatened by violent drug runners, leading him to slaughter a family of four before killing that tech-savvy girlfriend and himself, police said Thursday. Huey and long-time girlfriend Ermalinda Palomo were spotted days later in Oklahoma. “The tragic deaths of a young family, including two young children, will forever impact the surviving family and those that investigated this case,” Romeoville Police Chief Brant Hromadka said in a statement. “At this time, Nathaniel and Ermalinda (playing a character) began planning Zoraida’s murder,” Zakula wrote. “I conclude, without dissent from any attendee, that Nathaniel and Ermalinda are solely responsible for the murders,” Zakula wrote.

Persons: Nathaniel Huey Jr, Zoraida Bartolomei, Alberto Rolon, Huey, Ermalinda Palomo, Huey gunning, Palomo, Palomo’s, “, Brant Hromadka, ” Palomo, Bartolomei, Huey “, Ermalinda, Daniel Zakula, “ Ermalinda, Nathaniel, ’, Zoraida, ” Zakula, Zoraida’s, ” Huey, Chris Burne, Grundy, Jeff German Organizations: Romeoville Police, Romeoville, ” Police, Task Locations: Illinois, Chicago, Romeoville, Streamwood, Oklahoma, Mexican, Rolon, Bartolomei

Compare the Top Credit Cards With Free Airport Lounge AccessCapital One Venture X Rewards Credit Card Apply now lock icon An icon in the shape of lock. Credit Cards with Free Airline Lounge Access ReviewsChase Sapphire Reserve®The Chase Sapphire Reserve® is one of Business Insider's picks for all-around top travel credit cards. Capital One Venture X Rewards Credit CardThe Capital One Venture X Rewards Credit Card is one of the most powerful travel credit cards on the market. One of the Best Credit Cards for Airport Lounges is No Longer Available (But You Can Get it Anyway)The Ritz-Carlton™ Credit Card is perhaps the best travel credit card that isn't on the market. If you request it, Chase can convert your existing Chase-issued Marriott credit card, such as the Marriott Bonvoy Bold® Credit Card or Marriott Bonvoy Boundless® Credit Card , into the Ritz-Carlton Card.

Persons: we've, We've, Chase Travel ℠, Chase, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, Hilton, that's, Marriott, Regis, Sapphire, John F, Kennedy, Insider's, It's, they'll, you'll, Read, You'll, Conrad, you've, Carlton Card, HBO Max, Insider’s, SYD, Miles, Joseph Hostetler, Joseph, Guy, Angela Fung Organizations: Business, Hilton, Card, Citi ®, Mastercard, Marriott, Alaska Airlines, Capital, One, Chase, Chase Travel, Sapphire, Chase Sapphire, TSA, FDIC, Express, American Express, Saks, American, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, Global, Saks Fifth, Hilton Honors, Elite, Marriott Bonvoy, Ritz, Carlton, TSA PreCheck, Cell, New Hampshire Insurance Company, AIG Company, Delta SkyMiles ®, Delta, Delta Sky Clubs, ®, SkyMiles ®, Delta Sky Club, Delta Sky, U.S, Delta SkyMiles, United, United ®, United Club, American Express Chase, American Express Card, Citi, Centurion, Fort, Dulles, Washington Dulles, Sapphire Reserve, DoorDash, Chase Sapphire Reserve, Lufthansa, Austrian Airlines, Amex, Resorts, Dell, Adobe, Diamond, Waldorf, Aspire, Delta Reserve, Star Alliance, United Airlines, Polaris, United Polaris, The, Premier, Admirals Club, American Airlines, Airlines, Citi AAdvantage, Chase Ritz, Hilton Honors American, Hilton Gold, Gold, Honors American, Online Retail, ℠, NEXUS, EV, Netflix, Hulu, Spotify, Apple Music, HBO, Bank, Sydney, Finance Locations: Hulu, AmexTravel.com, Caribbean, delta.com, Canada, Delta, U.S, Hong Kong, Boston, LaGuardia, Austin, Dallas, Fort Worth, DFW, Denver, Washington, New York, JFK, San Diego, Las Vegas, Phoenix, Philadelphia, Capital, Hilton, Marriott, United, airfare, Airport, Charlotte, Miami, London

Fortunately, most credit card issuers have also increased the credit amount for Global Entry applications. Learn more about the card Business Insider rated "best affordable premium credit card" in our Capital One Venture X Rewards credit card review. The Global Entry or TSA PreCheck® application fee credit of up to $120 is available once every five years. Global Entry and TSA PreCheck Credit Card Frequently Asked QuestionsWhat are the main benefits of credit cards offering Global Entry and TSA PreCheck credits? How can I maximize the benefits of a Global Entry and TSA PreCheck credit card?

Persons: You'll, Chase Travel ℠, Chase, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, Miles, Marriott, Regis, Cash, stow, HBO Max, Insider’s, Read, Cardholders, it's, IHG, you'll, cardholders, It's, General Delta, they're, there's, Jasmin Baron, Angela Fung Organizations: Business Insider, Citi, Mastercard, American, TSA, Trusted, U.S . Customs, Border Protection, Business, Chase, American Express, CBP, Chase Sapphire, Chase Travel, Sapphire, FDIC, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, Global, Saks Fifth, Capital, One, Elite, Marriott Bonvoy, Ritz, Carlton, TSA PreCheck, Cell, New Hampshire Insurance Company, AIG Company, Hotels, Resorts, United, InterContinental ®, Crowne Plaza, United ®, United Club, ℠, Delta, Delta SkyMiles, U.S, Card, Delta SkyMiles ®, Delta Sky Clubs, ®, SkyMiles ®, Delta Sky Club, Delta Sky, EV, Netflix, Hulu, Spotify, Apple Music, HBO, Bank, US Bank, cardholder, Samsung, Delta Airlines, Air Canada Aeroplan, British Airways, Wyndham, One Venture, NEXUS, Chase Sapphire Reserve, Citi ®, American Airlines, Admirals Club, AA itineraries, Citi AAdvantage, Express Card, American Express Card, Delta SkyClub, Apple, Free, Credit, Delta Diamond Medallion, Finance Locations: U.S, Hulu, Caribbean, delta.com, Canadian, Delta, AmexTravel.com, Chevron, Canada

☆ Ukraine: Russians capture strategic town of Vuhledar in yet another blow for Kyiv
▼ + stars: | 2024-10-02 | by ( Clare Sebastian | ) edition.cnn.com time to read: +4 min

CNN —Russia has captured the key eastern Ukrainian town of Vuhledar, ending months of resistance and underscoring the scale of Kyiv’s challenge as it heads into its third wartime winter. While not a transport and logistics hub like Pokrovsk, Vuhledar was heavily fortified and viewed as a crucial bastion at the intersection of Ukraine’s eastern and southern fronts. Just like Avdiivka, another strategic eastern town which fell in February, Vuhledar is a victim, not of Russian strategic prowess, but brute force attrition. For two years Ukraine had put up a formidable defense there, as Russia tried and failed several times to take the town. “It’s painful, Vuhledar or rather those who settled there, drank a lot of blood,” he said.

Persons: Vladimir Putin, Zelensky, Joe Biden, Vuhledar, Boris Rozhin, ”, Voenkor Kotenok, “, Stanislav Buniatov Organizations: CNN, Kremlin, NATO, ABC, International Energy Agency Locations: Russia, Ukrainian, Vuhledar, Pokrovsk, Russian, Donetsk, Ukraine, Kyiv, Kursk, Kharkiv, It’s

☆ Eric Adams has the SCOTUS supermajority to thank as he challenges his bribery charge
▼ + stars: | 2024-09-30 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

In a court filing on Monday, Adams attorney Alex Spiro cites a groundbreaking June SCOTUS decision as reason enough to toss the bribery count. AdvertisementFederal prosecutors say Adams enjoyed nearly a decade of globe-circling Turkish Airlines trips. "I know," the feds say Adams responded when told by the staffer that Turkey saw this as "his turn" to reciprocate. (In addition to Spiro, Adams is represented by Avi Perry and William Burck. Adams has pleaded not guilty to the indictment, which also charges him with illegally accepting campaign contributions from Turkish officials and others via straw donors.

Persons: SCOTUS, Adams, —, Eric Adams, It's, Alex Spiro, Snyder, Spiro, Michel Paradis, Paradis, Brett Kavanaugh, Avi Perry, William Burck, Anthony Kennedy, Kavanaugh, Spiro didn't Organizations: New York City, Service, US, Indiana, Columbia Law School, Prosecutors, Turkish Airlines, Fox Corp, New York Times, Turkish, Justice Department Locations: New York, United States, Turkey, Turkish, Spiro, Burck

☆ Global Entry and NEXUS application prices are going up
▼ + stars: | 2024-09-30 | by ( Lilit Marcus | ) edition.cnn.com time to read: +1 min

US Customs and Border Protection (CBP) has raised the cost of applying for or renewing its Trusted Traveler Programs – a catchall term that covers Global Entry, NEXUS and SENTRI – from $100 to $120, as of October 1. The only exception is for minors: those under the age of 18 whose parents are enrolled in Global Entry and other Trusted Traveler Programs will not have to pay a fee. Global Entry launched in 2008. Signing up for Global Entry requires an application process and in-person interview in addition to the nonrefundable application fee. Travelers with Global Entry can use dedicated fast lanes at US airports.

Organizations: CNN, Customs, Border Protection, Global, NEXUS, CBP, Department of Homeland Security, Travelers, Green Locations: Canada, Singapore, Mexico, Germany, India

☆ FTC cracks down on DoNot Pay, others for 'deceptive AI claims and schemes'
▼ + stars: | 2024-09-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The Federal Trade Commission on Wednesday announced a crackdown on what the regulator called "deceptive AI claims and schemes" by three business opportunity ventures and two companies, including the legal services firm DoNotPay. "Using AI tools to trick, mislead, or defraud people is illegal," FTC Chair Lina Khan said in a statement. "The FTC's enforcement actions make clear that there is no AI exemption from the laws on the book," Khan said. In a complaint, the FTC said that DoNotPay, which touted its AI service as "the world's first robot lawyer," failed to live up to that claim. "Since about 2023, Defendants' deceptive sales pitch has said their business model is powered by artificial intelligence ("AI")," the suit says.

Persons: Lina Khan, Khan, DoNotPay, William Basta, Kenneth Leung Organizations: Financial Services, General Government, Federal Trade Commission, Wednesday, FTC Locations: Rayburn, CapVentures, Los Angeles

☆ Here are 3 stocks to buy after the Fed's 'crisis level cut,' according to one strategist
▼ + stars: | 2024-09-23 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

The move they made is a big cut," SlateStone Wealth's Kenny Polcari told CNBC's " Street Signs Asia " on Sept. 19. Calling it a "crisis level cut," he added that "people [are] scratching their heads, going, what's it really mean?" Federal Reserve Chair Jerome Powell stressed that the big rate cut does not signal that the risk of a recession is elevated. According to FactSet data, of the 20 analysts covering the stock, 18 give it a buy or overweight rating, while two have a hold rating. Biotech play Another stock Polcari is bullish on is biopharmaceutical player Amgen , given its pipeline of new products .

Persons: Kenny Polcari, CNBC's, Jerome Powell, Polcari, Amgen, — CNBC's Sean Conlon Organizations: U.S, Biotech, U.S . Food, Drug Administration, Euronext, Nasdaq, Nvidia Locations: Federal, U.S, Amgen, Euronext Amsterdam, Dutch, ASML

☆ Feds trying to build an attempted assassination case against man accused in Trump incident
▼ + stars: | 2024-09-19 | by ( Zachary Cohen | Evan Perez | ) edition.cnn.com time to read: +7 min

So far, there is no evidence indicating the suspect was motivated or instructed by foreign elements to target Trump. But prosecutors and investigators have made clear that they view the incident as an apparent plot to kill the former president and are working to build a case with those additional charges. He had not made any threats, for instance, against the president or former president Trump,” Berger said. “You are free to assassinate Trump,” Routh also wrote of Iran in the apparently self-published book. Those posts, on their own, would likely not be enough to charge Routh with attempting to assassinate Trump, according to Aronberg.

Persons: Donald Trump, Ryan Wesley Routh’s, Routh, Routh didn’t, Ryan Routh, David Aronberg, ” Aronberg, ”, Chelsea Walsh, Walsh, Katrina Berger, Berger, Trump, ” Berger, HSI, Butler, “, ” Routh Organizations: CNN, Federal, Trump, FBI, Service, . NY, Beach, Customs, Border Patrol, Security Investigations, HSI, Capitol, Global Citizen Locations: Florida, Trump, West Palm Beach , Florida, North Carolina, Hawaii, Ukraine, Kyiv, Butler , Pennsylvania, Iran, Taiwan, North Korea, Afghanistan, Tehran, Moscow, “

☆ YouTube announces AI features from Google DeepMind for Shorts creators
▼ + stars: | 2024-09-18 | by ( Zach Vallese | ) www.cnbc.com time to read: +2 min

YouTube on Wednesday announced artificial-intelligence features for creators on its Shorts platform that tap into Google 's DeepMind video-generation model. YouTube CEO Neal Mohan said he hopes Veo will enable creators to produce more Shorts videos with the help of AI. The Veo AI backgrounds are an upgrade over a similar AI-generation feature announced by YouTube in 2023 called Dream Screen. The company said its Veo AI background feature will roll out later this year while the six-second AI clips will become available in 2025. However, some creators expressed concerns that their videos on YouTube are used to train the AI models that built Veo.

Persons: Neal Mohan, Veo, Mohan, Thomas Simons Organizations: YouTube, Wednesday, Google, Facebook, Netflix, Disney Locations: New York

☆ An 'AI apocalypse' is coming to investing. How financial advisors can prepare
▼ + stars: | 2024-09-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Artificial intelligence is expected to transform the way companies do business, including those in financial planning and investment management. That means financial advisors need to get onboard or risk being left behind. Of course, financial advisors have been using some technology, like financial planning software, for years. Still, AI will help financial advisors do their jobs better — not necessarily put them out of work. What to do Nexus Strategy's Welsh believes financial advisors should begin getting comfortable with current AI capabilities.

Persons: Craig Iskowitz, Anthropic's Claude, Vincent Gudsdorf, Leo Kelly, Verdence, Kelly, Timothy Welsh, Welsh, Iskowitz, That's, Verdence's Kelly, It's Organizations: Ezra Group, AIs

☆ I went to Big Lots and saw why the chain is closing stores and filing for bankruptcy
▼ + stars: | 2024-09-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Big Lots filed for Chapter 11 bankruptcy this week and is planning hundreds of store closures. I visited a Big Lots store in Maryland to see what it's like to shop there. Go to newsletter preferences Thanks for signing up! It's also planning to shutter 295 of its roughly 1,400 stores, according to a filing in Delaware's bankruptcy court. Private equity firm Nexus Capital Management plans to acquire Big Lots for an undisclosed amount after it emerges from bankruptcy, the retailer said on Monday.

Persons: —, It's Organizations: Nexus Capital Management, Service, Business Locations: Maryland

☆ Big Lots files for bankruptcy protection, sells to private equity firm as it promises to keep offering 'extreme bargains'
▼ + stars: | 2024-09-09 | by ( Gabrielle Fonrouge | ) www.nbcnews.com time to read: +4 min

Discount home goods retailer Big Lots filed for bankruptcy protection on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its Chapter 11 filing, Big Lots agreed to sell its business to private equity firm Nexus Capital Management for about $760 million, consisting of $2.5 million in cash plus its remaining debt and liabilities, court records show. While discount retailers tend to do well in rough economic cycles, Big Lots primarily caters to lower- and middle-income consumers, who have curbed discretionary spending at a higher rate than their more affluent counterparts. “Big Lots is not always good value for money. A&G Real Estate Partners has been tapped as Big Lots’ real estate advisor, while Nexus will be represented by law firm Kirkland & Ellis.

Persons: Lots, Bruce Thorn, ” Evan Glucoft, ”, Big, Glucoft, Cos, ” Neil Saunders, GlobalData, ” Saunders, Davis Polk, Kirkland, Ellis Organizations: Big, Nexus Capital Management, Walmart, Goods, Guggenheim Securities, Real, Partners

☆ Big Lots files for bankruptcy
▼ + stars: | 2024-09-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Big Lots, the beleaguered discount retailer that previously warned it had “substantial doubt” about its survival, has filed for bankruptcy. As part of its Chapter 11 filing, the retailer announced that private equity firm Nexus Capital Management is acquiring “substantially all” of Big Lots stores and business operations. Big Lots blamed several economic factors for its bankruptcy, including high inflation and interest rates. Big Lots is in the process of closing roughly 300 of its 1,400 store across the United States. Big Lots joins a growing list of well-known retailers hitting financial turbulence as customers cut back spending on non-essential items.

Persons: ”, Bruce Thorn, McDonald’s, it’s, Sarah Foss, ” Foss Organizations: New, New York CNN, Nexus Capital Management, Lots, Walmart, Debtwire, CNN Locations: New York, United States

☆ India's exam system is in chaos, with some families paying thousands to help their kids cheat
▼ + stars: | 2024-09-09 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +5 min

Cheating in India's medical entrance examCheating has, in particular, plagued India's highly competitive medical entrance exam, also known as the National Eligibility Cum Entrance Test (NEET). "Question papers are sold at extravagantly high prices," Ashok Rathore, a police officer who investigated cheating linked to India's medical school exam, told the Journal. The person said they can provide next year's medical entrance exam questions for around 1 lakh rupees ($1,200). Those with money can still legally obtain places in private medical colleges if they pay fees ranging from $115,000 to $145,000. Advertisement"For those people, the fact that someone cracked a highly competitive entrance exam and got in would inspire more confidence than someone who paid their way through the whole thing."

Persons: —, Dharmendra Pradhan, Ashok Rathore, George Organizations: Service, National Testing Agency, NTA, BBC, Business, Wall Street Locations: India

Fortunately, we like to earn American Express Membership Rewards and Chase Ultimate Rewards points. I also transferred Chase points to Hyatt and redeemed them for one night in a hotel in the city. Annual travel credit can effectively shave $300 off the annual fee if you use itCheck mark icon A check mark. $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Another Southwest flight home to Denver, also courtesy of credit card rewards, and our anniversary spectacular was complete.

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☆ Former Kansas police chief formally charged over Marion newspaper raid
▼ + stars: | 2024-08-13 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

A former Kansas police chief linked to the Aug. 11, 2023, raid of a local newspaper was formally charged with one count of interference with the judicial process. She collapsed and died the day after the raid, and Meyer blamed her death on the stress of the raid. Joan Meyer, co-owner of the Marion County Record, swears at police officers in her home on Aug. 11, 2023. Marion County Attorney Joel Ensey, however, withdrew the search warrants after determining that "insufficient evidence exists to establish a legally sufficient nexus between this alleged crime and the places searched and the items seized." Sedgwick County District Attorney Marc Bennett and Riley County Attorney Barry Wilkerson said in a 124-page report that the newspaper's staff had committed no crimes.

Persons: Gideon Cody, Eric Meyer, Ruth Herbel, Joan Meyer, Meyer, Cody, Phyllis Zorn, Kari Newell’s driver’s, Herbel, Joel Ensey, Marc Bennett, Riley, Barry Wilkerson Organizations: Marion Police Department, Marion County, City, Marion Locations: Kansas, Marion, Marion County, Sedgwick County, Riley County

☆ Researchers want to combine an ancient technology with clean energy to save over $1 trillion worldwide
▼ + stars: | 2024-08-13 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

And switching these major manufacturers to cleaner sources of energy, like wind and solar, would help significantly. Batteries are one option, but some scientists think an ancient technology, firebricks, is a cheaper and easier solution. Advertisement"It's a way to heat firebricks to a blazingly hot temperature," he said. Rondo said its system reduces CO2 emissions and lowers the cost of energy because it requires less electricity than hydrogen fuel. AdvertisementForsberg said one of the biggest benefits of the newer firebrick technology is that it updates processes many industries have in place.

Persons: They're, they've, Charles Forsberg, Forsberg, there's, Mark Jacobson, Jacobson, Joey Kabel, Dan Stack, It's, Rondo Organizations: Service, Business, Solutions, Boston Globe, MIT, Stanford University Locations: Kentucky, California

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