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☆ When Tenants Get Illegally Locked Out, Landlords Often Win.
▼ + stars: | 2024-07-10 | by ( Cecilia Reyes | ) www.businessinsider.com time to read: +32 min

A handful of states, including Texas and Nevada, have set up dedicated systems designed to restore tenants to their homes after an illegal lockout. She and her family still don't have a new apartment, she said, and the eviction cases on her record don't help. BI reviewed two years' worth of lockout cases from the department and found city lawyers routinely dismissed tickets, often without documenting why. Bridget Bennett for Business InsiderThat afternoon, Brown had three cases on his docket in which tenants were alleging they'd been illegally locked out and dozens of cases in which landlords were seeking formal evictions. In 2022, Miami-Dade County passed a tenant's bill of rights that underlines the illegality of lockouts and limits a landlord's ability to harass tenants.

Persons: Henisha Dunn, Dunn, Zion Griffin, Griffin, Dunn's, Alyssa Pointer, —, Caryn Schreiber, Paul Panusky, He's, Jeffrey Uno, Uno, David Brogan, Griffin's, didn't, Brandon Johnson, Abel Uribe, Rolando Quebrado, lockouts, Quebrado, Pangea, Troy Marr, Marr, James Byczek, Byczek, Michael Dudek, wasn't, Dudek, Marr's, lockouts that's, David Brown, Bridget Bennett, Brown, they'd, They're, doesn't, Dana Karni, Karni, Brooke Boyett, Harris, Marlon Coleman, Coleman, Shay Awosiyan, Mr, Awosiyan, he'd, Callaghan O'Hare, Schreiber, Jay Trumbull, Trumbull, Tom Butler, Ron DeSantis, Joe Raedle, Florida's, Austin, Coleman's Organizations: Business, BI, Survey, Department of Justice, Legal, Foundation of Los, New, Apartment Association, Atlanta Legal, Chicago police, Police, Chicago, Nevada Business, Regional Justice Center, Las Vegas Regional Justice Center, Las Vegas Justice, Justice, Lone Star Legal, Harris County's, Administration, Houston, Texas Excel Property Management, Houston Police Department, Excel's Villa Nueva, Texas Excel, Apartments, Republican, Florida Realtors, Gov Locations: Georgia, New Jersey, Minnesota, California, Texas, Nevada, New York, Atlanta, Michigan, Foundation of Los Angeles, Fulton County, Chicago, Chicago's Jefferson, They're, Las Vegas, Harris County, Houston, In Texas, Harris, Greater Inwood, Miami, Dade County, Florida, Dallas, Applebee's

☆ Illegal Eviction Complaints Rise As Police Fail to Enforce
▼ + stars: | 2024-07-10 | by ( Cecilia Reyes | ) www.businessinsider.com time to read: +44 min

The nature of illegal lockouts means they are hard to track directly. One of the responding officers calls a sergeant over, who says there's nothing else they can do. While only 14% of lockout calls led to a police report, 86% of calls about shoplifting did. As they walk over, one of the officers tells the other to look up "illegal lockout" on his phone. A 2006 bill that would have defined illegal lockouts for all Illinois residents was defeated.

Persons: Alfred Perry, He'd, Perry, Dan Wright, Perry didn't, Wright, Bridget Bennett, Dan hadn't, I'd, he'd, Charlie Bliss, Matthew Desmond, Lockouts, Jersey City's, haven't, he's, David Leibowitz, Leibowitz, —, Pretium —, Kristi DesJarlais, Siegel, Sean Thueson , , Thueson, Blackstone, lockouts, Pretium, Katherine Kelly, RealPage, Jennifer Bowcock, William Prosser ,, they're, Donna Rossi, Sara Heymann, Meghan Aguilar, Misty Skinner, Skinner, Levi Wilhelm, It's, hasn't, I've, Wilhelm, they'd, Jeffrey Uno, Deirdre Orange, isn't, Daniel Benavidez, Jenny Chavez, criminalizing, Rob Bonta, Eric Carter, John Bartlett, Carter, Fred Fuchs, Steve Cohen, Michael Bennet, Sarah Saadian, Douglas Farrar, Kelly, Fuchs, Heymann, who've Organizations: Labor, Chrysler, Social Security, Business, North Las Vegas Police Department, Child Protective Services, Las Vegas Justice, Atlanta Legal, Atlanta Police Department, Atlanta, Supreme, Department of Housing, Los Angeles Police Department, Houston —, Arizona, Housing Association, Invitation Homes, Siegel, Siegel Group, Blackstone ., Progress, Homes, Union, city's Housing Department, Miami, Police, Houston, Houston Police Department, Phoenix, Criminal, Chicago, Chicago Department, LAPD, Records, Jersey City, Las Vegas Metropolitan Police Department, Las Vegas Metro Police, Legal, Foundation of Los, Phoenix Police Department, Fulton County Marshal's Department, Avondale Police Department, Avondale Police, Metropolitan Tenants Organization, Texas Justice Court, Court Training Center, Illinois, National Weather Service, Democratic, Senate, Income Housing Coalition, Consumer Financial Protection Bureau, Federal Trade Commission, FTC, AGs Locations: Las Vegas, Detroit, Vegas, United States, Perry's, Princeton, Milwaukee, Los Angeles, Chicago, Atlanta, South Chicago, Phoenix, Jersey, New Jersey, Jersey City, Houston, Nevada, . Texas, Harris County, Texas, Arizona, Washington, city's, Atlanta , Miami, California, New York City, Spring Valley, Spring Valley , Nevada, Las, Foundation of Los Angeles, Avondale , Arizona, Arkansas, Georgia , Mississippi, Pennsylvania, Wyoming, In Connecticut , Massachusetts, Minnesota , New Jersey, New York, Delaware, Illinois

☆ China food safety scandal: Cooking oil carried in same trucks as fuel, report claims
▼ + stars: | 2024-07-10 | by ( Simone Mccarthy | Joyce Jiang | ) edition.cnn.com time to read: +9 min

Experts quoted in official media also discussed health hazards of the alleged practices. “Using chemical tankers for edible oils will inevitably result in residual contamination,” said Liu Shaowei, a food safety expert cited by CCTV. Several executives found to be responsible for the 2008 case were ultimately handed death sentences, and the tragedy drove deep mistrust of domestic products and food safety in China. Another case in 2022, also exposed by state media, showed how “dirty” pickled cabbage was supplied to popular instant noodle brands. Xi has repeatedly stressed the importance of food safety and the security of grain and food staple supplies.

Persons: Xi Jinping, –, ”, Liu Shaowei, Liu, ’, ‘, Xi, ” Xi, Yanzhong Huang, Huang, “ Organizations: Hong Kong CNN, Oil Group, Council, CCTV, ” Communist Party, Weibo, Monday, CNN, Food Safety, Foreign Relations Locations: China, Hong Kong, Beijing, Communist, New York

☆ Unprotected at the margins of the rental market
▼ + stars: | 2024-07-10 | by ( Cecilia Reyes | ) www.businessinsider.com time to read: +31 min

Officers interviewed two motel residents who called 911; they said they did not want to leave their homes. Alyssa Pointer for Business InsiderIn Georgia, an eviction requires a court order, but the law doesn't explicitly make lockouts illegal. In this case, an officer classified the incident as a "crime against property" — a crime committed by the residents themselves. In unincorporated Clark County, where the property is located, operating a short-term rental without a license is illegal. Matthew Main is an attorney who has represented residents in similarly precarious housing situations in New York City, where state law also grants residents tenants' rights after 30 days.

Persons: they'd, Alyssa Pointer, doesn't, Eric Tars, Marshall Rancifer, Rancifer, Larry Johnson, Johnson, Lindsey Siegel, Freddie Mac, Rausch, Bridget Bennett, Harrison Bohn, Charlie Bliss, Andrew Cauthen, Brandon Turner, Darlene DeLaRoca, she'd, Mike Rausch, Harry Reid, DeLaRoca, Luis Barraza, Barraza, haven't, Stacey Welling, David Brown, Eric Dunn, Neason, Lynetrice Preston, Altonese Weaver, that's, Bliss, Roy Barnes, Barnes, Tera Strawter, Khari Varner, Strawter, Varner, Puentes, Guy Girardin, Girardin, Brown, Brian Michael Schwalbe, Schwalbe, you've, Natalie Bergevin, Bergevin, Matthew Main, gamesmanship, Main, Paul Panusky, Sara Heymann, I've, Michael Duckworth, Duckworth, he'd, Abel Uribe, Matthew Walberg Organizations: Labor, Business, National Homelessness Law, Justice, All Coalition, for Disease Control, Police, Housing Justice League, Atlanta, Atlanta Legal, US Department of Education, Pratt Center for Community Development, UCLA, Legal, Center of Southern, Natson, Facebook, Harry, Walmart, BI, Las Vegas Justice Court, National Housing Law, Atlanta Legal Aid, Atlanta . Tenants, DeKalb County Police Department, Georgia Supreme, Lutheran Social Services of, Las Vegas, Regional Justice Center, Go Locations: Dekalb County, Panthersville, Atlanta, Dekalb, Georgia, United States, Florida , Kentucky, DeKalb County, DeKalb, New York City, Los Angeles, Clark County , Nevada, Center of Southern Nevada, Nevada, California, Las Vegas, Clark County, Clark, Lutheran Social Services of Nevada, Las Vegas . Nevada, Chicago, Chicago's Roseland, Cook, City, DeLaRoca, Vegas

☆ A new US-Swedish bomb may have already been pulled from Ukraine because it's useless against Russian jamming
▼ + stars: | 2024-07-10 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Read previewA new precision-guided US weapon has been pulled from use by the Ukrainian military because Russia is taking them out using electronic warfare, according to reports. This story is available exclusively to Business Insider subscribers. It's one of a number of precision-guided US weapons that Russia has been able to neutralize or reduce the effectiveness of using electronic warfare in Ukraine. Russian electronic warfare units have blunted the effectiveness of HIMARS-fired Guided Multiple Launch Rocket Systems and air-launched Joint Direct Attack Munitions. In Ukraine, old-school artillery shells that aren't vulnerable to electronic warfare are playing a major role in the war of attrition on the front lines.

Persons: —, Business Insider's Mia, Bill LaPlante, they'll Organizations: Service, Wall Street Journal, Boeing, Saab, Business, Defense, Reuters, Systems, Attack Munitions, BI Locations: Russia, Swedish, Ukraine, Crimea, Russian, North Korea

☆ How airpower experts think Ukraine could pull off bursts of air superiority to get F-16s into the fight and score breakthroughs
▼ + stars: | 2024-07-09 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

An Air Force F-22 Raptor flies alongside two Polish F-16s in formation during the NATO Air Shielding media day at Lask Air Base, Poland. Air Force Staff Sgt. The air force could support these operations using HARM missiles. This sets up Ukraine's air force to gain air superiority over specific areas, allowing their pilots to strike Russian units, logistics, and transportation networks and deny movements of reinforcements. An F-16 aircraft is pictured after the first delivery of Norway's old F-16 fighter aircraft to Romania at Rygge Air Force Base, Norway.

Persons: —, David Deptula, Christopher Bowie, nonresident, Danielle Sukhlall, Volodymyr Zelensky, Alexander De Croo, Ludivine Dedonder, Didier Lebrun, Photonews, Bowie, SAMs, That's, it's Organizations: Service, Business, US Air Force, Mitchell Institute, Center for Strategic, An Air Force, NATO Air, Lask, Base, Air Force Staff, Defence, Ukrainian Air Force, Getty, Russia's, Rygge Air Force Base, OLE BERG, NATO, Fighting Falcons Locations: Ukraine, Poland, Russia, Avdiivka, Ukrainian, Zaporizhzhia, Russian, Romania, Norway, AFP

☆ Mississippi and West Virginia have some of the poorest Americans — and the highest home ownership rates
▼ + stars: | 2024-07-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.

Persons: Vera Sansalone, Sansalone, “, ”, ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas

☆ South Korea: Flying aboard the AC-130J Ghostrider, carrying America’s biggest gun in the sky
▼ + stars: | 2024-07-09 | by ( Brad Lendon | Mike Valerio | ) edition.cnn.com time to read: +8 min

AC-130 gunners Joe Gipson (back) and Isaac Dowell tend the 105mm cannon aboard a US Air Force AC-130J during a live-fire exercise over South Korea. A 105mm howitzer is seen at the rear of a US Air Force AC-130J at Osan Air Base, South Korea, in early June 2024. ‘Spooky’ historyUS Air Force gunships trace their lineage back to the Vietnam War, when the service set up 7.62 mm guns to fire out one side of a C-47 transport aircraft. With the AC-130J model, introduced in 2017, the Air Force removed the machine guns in favor of the more precision-guided munitions. The AC-130’s crew acknowledges the dangers of ground fire to their aircraft, and some analysts question its usefulness in any potential conflict with North Korea.

Persons: Ghostrider, Joe Gipson, Isaac Dowell, Brad Lendon, John Ikenberry, Kim Jong Un, ” Ikenberry, Heath Curtis, Mike Valerio, Curtis, ”, Justin Burris, Peter Layton, Layton, Maj, Christopher Mesnard, CNN’s Yoonjung Seo, Gawon Bae Organizations: Korean Peninsula CNN, US Air Force AC, CNN, Air Force Special Operations Command, US Air Force, Osan Air Base, South, Air Force, National Museum of, Operation, US, Griffith Asia Institute, Royal Australian Air Force, Operations Command Locations: Hurlburt Field, Florida, South Korea, Seoul, North Korea, Washington, Korea, Maj, New Mexico, United States, Vietnam, Asia, Grenada, Panama, Somalia, Iraq, Afghanistan, Kunduz, Iraqi, Persian, Khafji, Saudi Arabia, Korean, Australia, Operations Command Korea

☆ It suddenly looks like there are too many homes for sale. Here's why that's not quite right
▼ + stars: | 2024-07-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

The housing market is just beginning to come out of its leanest few years in history. Inventory of both new and existing homes is finally rising, but there is something suddenly strange in the numbers: The supply of newly built homes appears to be way too high. The supply scenarioThere is currently a 4.4-month supply of both new and existing homes for sale, according to the National Association of Home Builders, or NAHB. In fact, there is now a nine-month supply of newly built homes for sale, nearly three times that of existing homes. The foundation of today's tricky numbersThis housing market is unlike any other because of economic forces unlike any other.

Persons: Jordan Vonderhaar, Robert Dietz, Homebuilders, Brandon Bell Organizations: National Association of Home Builders, Bloomberg, Getty, Housing, Federal Reserve, Builders Locations: San Marcos , Texas, Austin , Texas

☆ Abolish HOAs: Homeowner Associations Make It Harder to Own a House
▼ + stars: | 2024-07-08 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +10 min

These private quasi-governments are called homeowner associations, or HOAs. While California has the most HOAs of any state (50,000), Florida has far more HOA residents as a percentage of its population. The association also provided its residents with "the usual privileges of a citizen in any free state," Tullock wrote. Readers will not be shocked to learn that Clarke and Freedman also found that HOA residents were more likely to be white or Asian than non-HOA residents. (Cashin observed that several states, including New Jersey and Texas, had laws allowing HOA residents to subtract the cost of privately provided infrastructure from their taxes.)

Persons: Norman Rockwell, Ron DeSantis, HOA, Quinn Slobodian, HOAs —, Gordon Tullock, Tullock, it's, Jim Crow, Wyatt Clarke, Matthew Freedman, Clarke, Freedman, Robert Reich, Sheryll Cashin, Cashin, HOAs Organizations: Gov, Guardian, HOAs, George Mason University, HOA Locations: An, HOA, Florida, While California, Rossmoor , California, America, Pima County, New Jersey, Texas, That's

☆ Apple stock has 17% upside because the AI revolution will have to run through its hardware, Wedbush says
▼ + stars: | 2024-07-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Apple's upcoming AI upgrade will trigger a surge of app interest, Wedbush Securities said. Its new Apple Intelligence will make the firm the "gatekeeper" of AI customers, the note said. Meanwhile, the iPhone 16 upgrade will prompt an upgrade cycle this fall. Encouraging the outlook is an improving demand in China, and an iPhone growth turnaround will likely begin by September, he said. The "massive" upgrade cycle puts Apple on route to a $4 trillion market capitalization.

Persons: —, Dan Ives, Ives, Steve Eisman Organizations: Wedbush Securities, Apple Intelligence, Service, Apple, Worldwide, Conference, Google, Ives, CNBC Locations: that's, Cupertino, It's, China, Asia

☆ Amazon's amazing turnaround: How Andy Jassy secretly wooed Wall Street and overhauled a bloated tech giant
▼ + stars: | 2024-07-08 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

This person is one of over a dozen Amazon employees, investors, and analysts that BI interviewed to better understand Jassy's first 3 years as CEO. Andy Jassy replaced Jeff Bezos (pictured here) as Amazon's CEO in July 2021. In his first 3 years as CEO, Jassy has lost many senior staff. Amazon's spokesperson said the company has "strong retention and continuity" among senior leaders. Amazon's spokesperson said the company is making "huge investments" in AI across AWS and the retail business.

Persons: —, Andy Jassy, Jeff Bezos, Jassy, Bezos, EMMANUEL DUNAND, Mark Shmulik, Bernstein, Bernstein's Shmulik, He's, Shmulik, Amazon's, That's, spokespeople, Jassy doesn't, Doug Herrington, Jay Carney, Dave Limp, Adam Selipsky, Dave Clark, Clark, Ted S, Babak Parviz, Parviz, Mark Mahaney, We're, Jeff Organizations: Service, Business, Amazon, Washington Post, BI, Warren, Echo, Microsoft, AWS Locations: Seattle

☆ Texas Utility Considers Mobile Generators as Beryl Leaves Millions Without Power
▼ + stars: | 2024-07-07 | by ( Ivan Penn | More About Ivan Penn | ) www.nytimes.com time to read: +1 min

With millions of utility customers in East Texas cut off from electricity by the storm, the utility serving the overwhelming majority of those customers said it was working to set up mobile power sources for critical facilities. The utility, CenterPoint Energy, which supplies power in and around Houston, said that some 2.26 million customers had lost their electric service at the peak on Monday, and that the figure had since fallen only slightly. The company said it was looking into using mobile generation units to provide temporary power to places like cooling centers, health care facilities, police and fire stations, senior centers and educational centers. “We are mobilizing all of our available resources, as well as mutual assistance resources from other utility companies, to begin the process of quickly and safely restoring power to our customers,” Lynnae Wilson, senior vice president for electric business at CenterPoint, said in a statement. “We understand how difficult it is to be without power for any amount of time, especially in the heat.”

Persons: ” Lynnae Wilson Organizations: CenterPoint Energy Locations: East Texas, Houston, CenterPoint

☆ Maryland Gov. Wes Moore says his faith in Biden hasn't wavered. Here's why.
▼ + stars: | 2024-07-07 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Related storiesThe governor, who was first elected in 2022, said that Biden has been a strong partner for Maryland. Wes Moore said he has worked closely with the Biden administration following the collapse of the Francis Scott Key Bridge in Baltimore. Anna Moneymaker/Getty ImagesAt the governor's meeting, Moore said Biden laid out a strategy for the final months of his campaign. The governor has worked with the Biden administration extensively following the bridge's collapse. "I think he's got to keep doing what he's doing right now.

Persons: —, Joe Biden, Wes Moore, Biden, Moore, Donald Trump, he's, Francis Scott Key, Anna Moneymaker, Dali, He's, You've Organizations: Service, Democratic, Business, Maryland Gov, US Army, Maryland Locations: Baltimore, Patapsco

☆ Samsung really wants to outsmart Apple in the Galaxy-iPhone battle
▼ + stars: | 2024-07-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

From the city of Suwon, Samsung — the family-led titan of Korean industry — has been the world's top smartphone seller, beating Apple. Last month, Apple unveiled Apple Intelligence, a vision of generative AI that will give its devices a total refresh. In doing so, Apple hopes to inspire consumers to upgrade their iPhones so they can access its suite of AI features. (Only newer models like the iPhone 15 Pro and upcoming iPhone 16 line-up will offer Apple Intelligence). It debuted Galaxy AI, its first take on generative AI features for its devices, at the January launch of its flagship Galaxy S24 range.

Persons: —, Lee Jae, Park, Lee, Siri Organizations: Service, Samsung, Apple, Business, IDC, Samsung Electronics, Bloomberg, South, Apple Intelligence, AI, Samsung Galaxy, Google Locations: South, Suwon, Paris, China

☆ Russia is using devastating 'meat assault' attacks to find out where Ukraine's firepower is hidden: report
▼ + stars: | 2024-07-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Russia is using waves of troops in head-on "meat assault" attacks, the BBC said. Russia's using them to identify Ukrainian firepower positions, an officer told the outlet. Around 1,000 Russian troops a day are being killed or injured, reports say. AdvertisementRussia is using head-on attacks by waves of troops to identify Ukrainian firepower positions, a Ukrainian officer told BBC News. In a report on Russia's brutal front-line tactics near Kharkiv in Ukraine, troops described the waves of Russian attacks on their positions, describing them as "meat assaults."

Persons: —, Col Anton Bayev Organizations: BBC, Service, BBC News, Khartia Brigade, Ukraine's National Guard, Business Locations: Russia, Ukrainian, Kharkiv, Ukraine

Japan scrapped every regulation requiring the use of floppy disks for administrative purposes this week, catching up with the times 13 years after the country’s producers manufactured their last units. The floppy disk, invented in the 1970s, was once a ubiquitous part of computing. In the 1990s, along with the cassette tape, it was thrown into the dustbin of outdated tech. While renowned for its consumer electronics giants, robots and some of the world’s fastest broadband networks, the country has also been wedded to floppy disks and other old technologies like fax machines and cash. Japan began moving away from the 1900s storage devices, magnetic disks encased in plastic, just two years ago, when Taro Kono, the country’s digital minister, declared a “war on floppy disks.”

Persons: Taro Kono Locations: Japan

☆ Small apartments are in, and it's causing rents in new buildings to drop
▼ + stars: | 2024-07-05 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Developers have built a lot of new small apartments over the last few years, and the boost in supply has driven rents down. Rents for newly finished one-bedroom apartments are also falling — the median rent fell 11.9% year over year in the first quarter of 2024, the report found. More than 90,000 new apartments came online in the fourth quarter of 2023, finishing a big year of apartment construction, Redfin noted. The Redfin report is based on US Census data on "unfurnished, unsubsidized, privately financed rental apartments in buildings with five or more units." Studios and one-bedrooms tend to be more profitable for developers to build than larger apartments, and developers aren't building enough apartments suitable for big families.

Persons: Redfin, you've, Sheharyar Bokhari, — Organizations: Service, Business, Harvard Locations: Redfin

CNN —Israel’s government has approved a large land seizure in the occupied West Bank – the biggest since the 1993 Oslo Accords set out a path for peace between Israel and the Palestinians, according to the Israeli rights group Peace Now. The declaration covers a 1,270 hectare (3,138 acre) section of the Jordan Valley in the eastern West Bank near Jericho, the document from the Civil Administration shows. Once land is designated as state land, Israel no longer recognizes it as privately owned by Palestinians. Smotrich spoke about preventing the occupied West Bank from becoming a part of an independent Palestinian state, according to leaked audio of a speech he gave in June. On Sunday, Israel sparked condemnation after the finance minister announced plans to legally recognize five unauthorized Jewish settlements in the occupied West Bank.

Persons: CNN —, wasn’t, ”, Bezalel Smotrich, Smotrich, Israel Organizations: CNN, West Bank, Civil Administration, Israel, Israel’s Civil Administration, Peace, Planning, Israel’s, Defense Ministry, Higher Planning Locations: Oslo, Israel, Jordan, West Bank, Jericho, Palestinian

☆ The AI boom will push America's shaky power grid to its limit
▼ + stars: | 2024-07-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The artificial intelligence boom is straining America's power grid. All three trends have sparked ongoing concerns about the power-hungry nature of new technologies as they push America's shaky power grid to the limit. And with hundreds of millions of users already interacting with AI tools like ChatGPT, the power demand for AI technologies is only set to rise. Bank of America put into perspective the challenges faced by the power grid as it grapples with surging demand from AI data centers. AdvertisementSome eye-opening stats about the US power grid cited by Bank of America include:"The US grid produces 1,250 gigawatts (GW) of electricity from 9,200 generating units.

Persons: Baird, Ted Mortonson, —, Mortonson, Goldman Sachs Organizations: Service, Bank of America, Oracle, Wall Street Journal, Constellation Energy, Xcel Energy, NextEra, Southern Co Locations: Michigan, Pennsylvania, East, NextEra Energy

☆ The five secrets to Ferrari’s success as a luxury brand
▼ + stars: | 2024-07-04 | by ( Robert Frank | ) www.cnbc.com time to read: +10 min

In this article RACE-IT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn the world of luxury, Hermès is arguably the gold standard. Analysts predict Hermès could surpass Louis Vuitton in revenue within the next three years as the world's largest luxury brand. There is one luxury company, however, that has raced past Hermès when it comes to growth and brand cache – Ferrari. To better understand what makes Ferrari a luxury brand, CNBC traveled to Ferrari headquarters in Maranello, Italy, to interview the company's CEO, Benedetto Vigna. "A luxury company is a company that is using technology, innovation, storytelling, heritage, everything, with the ultimate goal to feed that emotional side that we all have."

Persons: Birkin, Louis Vuitton, Hermès, Enzo Ferrari, Ford, Ferrari, Bernstein, Luca Solca, Benedetto Vigna, Robert Frank, Vigna, Adam Jeffery, Solca, Ferraris, Martyn Lucy, Bernard Arnault, Crystal Lau, Francesca Volpi Organizations: Ferrari, New York Stock Exchange, General Motors, CNBC, Ferraris, Goodwood Festival, Getty, Spiders, Rolex, Hermès, Bloomberg Locations: Maranello, Italy, Geneva, Chichester , England, it's, California, Roma

☆ Tensions with Iran spotlight Israel's hidden nuclear arsenal
▼ + stars: | 2024-07-04 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

AdvertisementBy invoking doomsday weapons, it was clear Katz was alluding to Israel's nuclear weapons arsenal — an arsenal over which neither he nor IAI have any command-and-control. There are eight countries in the world with declared nuclear arsenals, four of which — the United States, China, India, and Russia — have a complete nuclear triad. Israel's triad has some notable distinctions and limitations compared to those of the other four. "Israel's nuclear triad bears the hallmarks of a regional nuclear triad as seen in India and Pakistan, rather than seeking globe-spanning strike capability," Sebastien Roblin, a widely published military-aviation journalist, told Business Insider. "Israel's nuclear deterrent is not designed to ward off great powers like Russia or China, but rather regional powers like Egypt and Iran," Bohl told BI.

Persons: —, Yair Katz, Israel, Katz, Russia —, Sebastien Roblin, Roblin, Ryan Bohl, RANE, Bohl, Nir Ben, Yosef Organizations: Service, Business, Israel Aerospace Industries Workers ' Council, Iran's United Nations, IAI, Jericho, Israel Aerospace Industries, Dolphin, East, Facebook, Air Force's, Israel, US Air Force, IAF, nukes Locations: Israel, Lebanon, Iran, Yemen, Syria, Iraq, United States, China, India, Russia, Pakistan, North Africa, Egypt, Jericho

☆ Why so much is riding on the 777X, Boeing's newest long-haul plane that is already 5 years late and costing billions
▼ + stars: | 2024-07-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The FAA slowed deliveries after the Alaska Airlines door plug blowout in January and capped Boeing's 737 production. AdvertisementA lot is riding on the new 777X, including proving its modified design was the right strategy over building a new plane from scratch. Boeing's last completely new widebody plane was the 787 way back in 2003. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022. Georg Wendt/picture alliance via Getty ImagesDespite the substantial investment, Emirates president Tim Clark has voiced his concern over Boeing's 777X delays.

Persons: —, Richard Aboulafia, there's, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, Clark, Aboulafia Organizations: Service, British Airways, Emirates, Singapore Airlines, Business, Boeing, FAA, Alaska Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Aircraft, Reuters, Air Locations: Korean, AFP, Qatar

☆ Canada's bold plan to make housing more affordable is showing signs of working — and could be a model for the US
▼ + stars: | 2024-07-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Like the American federal government, Canada's national government doesn't have a lot of control over housing policy. Related storiesOverall, the federal push has already been quite successful in changing the housing policy landscape across the country, Moffat said. Over the last several years, an influx of new immigrants, rampant investor speculation, and rapidly rising construction costs have also sent prices up. It would also impose a fine on cities that tolerate "NIMBY" — the anti-development "Not in My Backyard" philosophy — opposition to housing construction. Some American fans of Canada's Housing Accelerator Fund suggest it could be a model for US efforts to incentivize denser and more abundant housing construction.

Persons: i'm, it's, Mike Moffatt, Moffat, —, Justin Trudeau, Trudeau, Matti Siemiatycki, Siemiatycki, there's, densification, Pierre Poilievre, hasn't, Joe Biden's Organizations: Service, Business, Smart Prosperity, University of Ottawa, Housing, Liberal, Infrastructure Institute, University of Toronto's, of Cities, Concordia University, Conservative Party, Investment, Jobs Locations: Canada, Ottawa, British Columbia, Ontario, Alberta, California, United States

☆ China's BYD is set to take Tesla's crown as the world's No. 1 producer of battery electric vehicles
▼ + stars: | 2024-07-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Chinese electric vehicle maker BYD is on track to overtake Tesla in battery electric vehicle sales this year, with its BEV market share expected to surge, according to a Counterpoint Research report. "This shift underscores the dynamic nature of the global EV market," Counterpoint analysts said in the report released Tuesday. BYD's second-quarter battery EV sales jumped nearly 21% year on year to 426,039 units, according to CNBC's calculations. Counterpoint said China "remains a dominant force in the BEV market" with BYD leading the way. China's BEV sales are estimated to be four times that of North America's in 2024, the research firm said.

Persons: BEV, BYD's, BYD, Tesla, China's BEV Organizations: Research, U.S, EV Locations: Munich, Germany, China, North America's

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