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☆ US retail sales rose in May
▼ + stars: | 2023-06-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Retail sales at stores, online and in restaurants grew 0.3% in May from April, the Commerce Department reported on Thursday. Retail sales data is adjusted for seasonality but not for inflation. Excluding sales at gasoline stations, retail spending increased by a faster clip of 0.6%. From a year ago, overall retail sales rose 1.6% in May. Impact of the labor marketWhile retail sales held up in May, spending has erred on the weaker side after a big jump in January.

Persons: Brian Field, ”, Joshua Shapiro, Maria Fiorini Ramirez, Jerome Powell, Thomas Simons, Deborah Weinswig Organizations: DC CNN, Commerce Department, Sensormatic Solutions, CNN, Federal Reserve, Jefferies, “, Coresight Locations: Washington

☆ Homeowners with a 2.5% to 3% mortgage are 'trapped' which is hurting supply, says GTIS' Tom Shapiro
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHomeowners with a 2.5% to 3% mortgage are 'trapped' which is hurting supply, says GTIS' Tom ShapiroTom Shapiro, GTIS Partners president and CIO, joins 'Closing Bell Overtime' to discuss the state of the housing market, where the home builders sector stands, and how the Federal Reserve's pause could impact real estate.

Persons: GTIS, Tom Shapiro Tom Shapiro Organizations: GTIS Partners

The company that owns the truck has been in contact with officials and is complying with state police, officials said. Buttigieg has said his agency is prepared to help local officials swiftly address the extensive disruption caused by the collapse. A view of the aftermath of the collapse of a part of I-95 highway in Philadelphia Sunday in this still image obtained from a social media video. Shortly before the collapse, Mark Fusetti was driving south on I-95 in Philadelphia and began filming when he saw plumes of dark smoke. The Southeastern Pennsylvania Transportation Authority also said it added extra capacity and service to other transportation routes and was evaluating all options to assist travelers as they work around the highway collapse.

Persons: Mike Carroll, Pete Buttigieg, Ben Halle, Buttigieg, ” Buttigieg, “, Josh Shapiro, Shapiro, Joe Biden, “ Crews, Billy Kyle, Jennifer Homendy, Homendy, ” Homendy, underscoring, Mark Fusetti, ” Fusetti, CNN’s Jim Acosta, Derek Bowmer, ”, Ruth Acker, Danny Rodriguez, WPVI, Carroll Organizations: CNN —, National Transportation, State, Transportation, CNN, American Council of Engineering Companies, Pennsylvania Department of Transportation, NTSB, Pennsylvania State Police, Sunday . Department Battalion, American Council of Engineering, WPVI, Southeastern, Southeastern Pennsylvania Transportation Locations: Philadelphia, Pennsylvania, Wawa, Coast, detours, Woodhaven, Aramingo, New Jersey , Delaware, Maryland, Southeastern Pennsylvania

☆ The Fed is about to decide whether or not to keep ramping up its fight against inflation
▼ + stars: | 2023-06-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Some anticipate the Fed will raise rates again in July in an attempt to bring inflation down to the 2% target. Even if the Fed forgoes a rate increase on Wednesday, Fed officials have suggested the Fed may hike rates again at later meetings. The survey also found people's expectations of job loss fell 1.3 percentage points to 10.9%, suggesting rising job market strength. "I do not think that wages are the principal driver of inflation," Fed Chair Jerome Powell told reporters after the Fed's May policy meeting. "For instance, recent evidence shows that wage growth tends to follow inflation, as well as expectations of future inflation."

Persons: —, it's, Jerome Powell, Adam Shapiro, Shapiro Organizations: Federal, Service, Committee, Fed, payrolls, Labor Statistics, Labor, Index, BLS, Bureau of Labor Statistics, Silicon Valley Bank, First Republic Bank, New York Federal Reserve, Federal Reserve Bank of San, National Federation of Independent Business Locations: Ukraine, Silicon, Federal Reserve Bank of San Francisco

☆ Will the I-95 collapse in Philadelphia hurt the economy? Look at other cities for answers
▼ + stars: | 2023-06-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

New York CNN —A section of northbound I-95 in Philadelphia collapsed Sunday after a tanker truck caught fire underneath the highway. I-95 is an important artery for not only the East Coast, but for regional transportation and commuters in Philadelphia. Another analysis by the state’s Department of Employment and Economic Development and the transportation department found the economic loss was about $17 million in 2007 and $43 million in 2008. Morning commutesThe Philadelphia bridge collapse also brings up another question: How will commuters get to work? Advocates for public transport in Philadelphia look to Atlanta, when the Interstate-85 bridge collapsed in 2018 after a massive fire.

Persons: Tumar Alexander, ”, ” Alexander, Kristen Scudder, ” Scudder, Scudder, Scrudder, Transportation Pete Buttigieg, Buttigieg, “ I’ve, Shapiro Organizations: New, New York CNN, Delaware, Regional Planning Commission, City, Philadelphia Office, Emergency Management, New Jersey Turnpike, of Transportation Statistics, University of Minnesota, Minnesota Department of Transportation, state’s Department of Employment, Economic, Bureau, Transportation, Invest, Atlanta Regional Commission, Southeastern, Southeastern Pennsylvania Transportation Authority, “, Twitter, Federal Highway Administration, FHWA, Gov Locations: New York, Philadelphia, East Coast, City of Philadelphia, New Jersey, Memphis, Minneapolis, Minnesota, West Memphis , Arkansas, Atlanta, Southeastern Pennsylvania, Roosevelt, Northeast Philadelphia

☆ Philadelphia I-95 highway collapse may snarl morning commutes
▼ + stars: | 2023-06-12 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +2 min

[1/4] A view of the aftermath of the collapse of a part of I-95 highway after a fuel tanker exploded beneath it, in Philadelphia, U.S. June 11, 2023 in this still image obtained from a social media video. Courtesy of Billy Kyle/via REUTERSPHILADELPHIA, June 12 (Reuters) - Philadelphia residents were bracing for a brutal morning commute on Monday after a tanker truck fire caused an overpass to collapse on Interstate 95. The major highway is closed in both directions in Philadelphia after the tanker trunk carrying gasoline caught fire for reasons that were not yet clear. The U.S. National Transportation Safety Board (NTSB) said the tanker was carrying gasoline and that it had sent a team to investigate. "I mean, they're looking to maintain the basic safety of the bridges due to deterioration," he said.

Persons: Billy Kyle, Leslie Richards, Josh Shapiro, Andy Herrmann, Herrmann, Jarrett Renshaw, Brad Brooks, Andrea Shalal, Donna Bryson, Raju Gopalakrishnan Organizations: REUTERS, Southeastern Pennsylvania Transportation Authority, Pennsylvania, U.S . National Transportation Safety Board, American Society of Civil Engineers, Thomson Locations: Philadelphia , U.S, REUTERS PHILADELPHIA, Philadelphia, East Coast, Miami, Maine, U.S, Lubbock , Texas, Washington

No injuries or fatalities from the highway collapse have been reported. But it remained unclear whether anyone was caught in the burning commercial tanker truck, which was carrying a petroleum-based product. The truck was still trapped under the collapsed highway Sunday afternoon, Pennsylvania Gov. Kena Betancur/AFP/Getty ImagesThe commercial tanker truck caught fire around 6:20 a.m., causing a section of the overhead northbound I-95 highway to collapse atop the truck, authorities said. “In order to accommodate travel through the city and region following the I-95 collapse, SEPTA will provide added capacity and Service.

Persons: Josh Shapiro, ”, Mike Carroll, “, ” Shapiro, Brendan Boyle, Pete Buttigieg, Buttigieg, Kena Betancur, Jeffrey Thompson, Crews, Carroll, ” Carroll, Leslie Richards, Mark Fusetti, ” Fusetti, CNN’s Jim Acosta, Derek Bowmer, Bowmer, ” Bowmer, Joe Biden, Karine Jean, Pierre, Shailen Bhatt, Brendan Riley, ” Riley Organizations: CNN —, East, Pennsylvania, Pennsylvania Department of Transportation, ”, Democrat, CNN, Firefighters, Getty, Philadelphia Fire Department, Southeastern Pennsylvania Transportation Authority, SEPTA, Fox Chase Lines, Philadelphia Fire Department Battalion, White, Federal Highway Administration, . Philadelphia Fire Department, AP Coast Guard, US Coast Guard, Coast Guard, Philadelphia Water Department, Department of Environmental Locations: Philadelphia, detours, AFP, Trenton, West Trenton

☆ Section of major I-95 highway in Philadelphia that collapsed after tanker truck caught fire underneath could take months to repair, officials say
▼ + stars: | 2023-06-11 | by ( Celina Tebor Zoe Sottile | Celina Tebor | Zoe Sottile | ) edition.cnn.com time to read: +5 min

CNN —A section of northbound I-95 in Philadelphia that collapsed after a tanker truck caught fire underneath the highway Sunday morning could take months to repair, snarling regional commutes and cutting off a major East Coast artery, Pennsylvania officials said. The commercial tanker truck, which was carrying a petroleum-based product, is still trapped under the collapsed highway, Pennsylvania Gov. The destroyed portion of the highway is “likely the busiest interstate in the commonwealth,” seeing around 160,000 vehicles daily, according to Pennsylvania Department of Transportation Secretary Mike Carroll. A side view shows the partial collapse of Interstate 95 after a fire underneath a Philadelphia overpass. City of Philadelphia Office of Emergency Management/ReutersWhile the collapse has not affected the city’s drinking water quality, according to a tweet from Philadelphia Water Department, the US Coast Guard is looking out for possible water pollution.

Persons: Josh Shapiro, ” Shapiro, Mike Carroll, Philadelphia Mayor Jim Kenney, “, ”, Derek Bowmer, Transportation Pete Buttigieg “, Leslie Richards, “ It’s, ” Buttigieg, Joe Biden, Karine Jean, Pierre, Shailen Bhatt Organizations: CNN, Authorities, Pennsylvania Department of Transportation, Philadelphia Mayor, SEPTA, Southeastern Pennsylvania Transportation Authority, Philadelphia Fire Department, Transportation, Philadelphia Office, Emergency Management, Reuters, Philadelphia Water Department, US Coast Guard, Philadelphia, Twitter, White, Federal Highway Administration, National Transportation Locations: Philadelphia, Pennsylvania, detours, Maine, Miami , Florida, City

☆ The viral AI-generated image showing an explosion near the Pentagon is 'truly the tip of the iceberg of what's to come,' tech CEO says
▼ + stars: | 2023-06-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

People need to prepare for a surge in AI-generated content being shared online, a tech CEO told CNN. The viral image of an explosion near the Pentagon is just "the tip of the iceberg," Jeffrey McGregor said. The viral AI-generated image showing an explosion near the Pentagon is "truly the tip of the iceberg of what's to come," a CEO who works in image authenticity detection has warned. Earlier this year, a photographer sparked debate about whether AI-generated images can be classed as art after an image he created using DALL-E 2 won a major international photography competition. It's not just AI-generated images that are being used to deceive people.

Persons: Jeffrey McGregor, we're, Donald Trump, hadn't, It's, Joe Rogan, Ben Shapiro, Emma Watson, McGregor, Ben Colman Organizations: CNN, Pentagon, Reality

☆ Even Fox News' top legal commentator says the indictment against Trump is 'extremely damning'
▼ + stars: | 2023-06-09 | by ( Paul Squire | ) www.businessinsider.com time to read: +3 min

A top Fox News legal commentator called the indictment against Donald Trump "extremely damning." Turley on Friday warned Trump's legal team: "This is not an indictment you can dismiss." If Donald Trump wanted to hear good news about his unsealed indictment, Fox News on Friday wasn't the place to find it. "It is an extremely damning indictment," Turley, a conservative jurist and the Shapiro Professor of Public Interest Law at George Washington University, said. But even so, Turley warned Trump's legal team: "This is not an indictment you can dismiss."

Persons: Donald Trump, Jonathan Turley, Turley, Trump's, Trump, Shapiro, stashed, Sean Hannity's, Hannity, he's Organizations: Fox News, Trump, Fox, Public, George Washington University, The Justice Department, DOJ Locations: Trump's, Lago, Florida

☆ What the Latest Investigations Into Catholic Church Sex Abuse Mean
▼ + stars: | 2023-06-02 | by ( Ruth Graham | ) www.nytimes.com time to read: +1 min

It detailed widespread sexual abuse of children in the Catholic Church throughout Pennsylvania, and a “sophisticated” cover-up by senior church officials. Victims of abuse and their families, sometimes visibly weeping, joined Mr. Shapiro on the stage. The report reverberated at the highest levels of the church, with the Vatican expressing “shame and sorrow” over the findings. Now the results of those investigations are rolling out, refocusing attention on the sprawling abuse scandal, and in some cases providing fresh details. The attorney general of Illinois, Kwame Raoul, released a report in May that found more than 450 credibly accused child sex abusers in the Catholic Church in Illinois since 1950.

Persons: Josh Shapiro, Shapiro, ”, Kwame Raoul Organizations: Catholic Church throughout, Gallup, Catholic Church Locations: Pennsylvania, Harrisburg, Pa, Catholic Church throughout Pennsylvania, United States, Illinois

[1/3] Nvidia Corp CEO Jensen Huang speaks at the COMPUTEX forum in Taipei, Taiwan May 29, 2023. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays. MediaTek systems using Nvidia software would be compatible with automated driving systems based on Nvidia technology, the companies said. The partnership with MediaTek gives Nvidia wider access to the $12 billion market for infotainment system-on-chips, the companies said. MediaTek, which has its base in the Android smartphone chip sector, sells its Dimensity Auto technology to lower-priced, mass market vehicle lines, and has strengths in mobile connectivity and Android systems.

☆ Community college is on the rise for Gen Z as high tuition rates and job opportunities encourage them to skip 4-year degrees
▼ + stars: | 2023-05-29 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Community college enrollment rose this spring for the first time in a decade. Another route becoming more prevalent among the cohort is opting for community college instead of four-year undergraduate degrees. But according to a report by the National Student Clearinghouse Research Center, community college enrollment rose 0.5% in spring 2023. The drastic difference in cost is pushing many toward the two-year community college degrees. PMG, a global advertising company, offers a partnership with the local community college, Tarrant County College.

In an appearance with the conservative commentator Ben Shapiro, Mr. DeSantis accused Mr. Trump, the G.O.P. front-runner, of “moving left” on criminal justice and immigration issues after winning over the party’s base in 2015 and 2016. He pledged that he would repeal what is known as the First Step Act, a bipartisan criminal justice measure signed into law by Mr. Trump in 2018 that expanded early-release programs and modified sentencing laws, including mandatory minimum sentences for nonviolent drug offenders. “He enacted a bill, basically a jailbreak bill,” Mr. DeSantis said. “It has allowed dangerous people out of prison who have now reoffended and really, really hurt a number of people.”

☆ Twitter is starting to look a lot like Fox News
▼ + stars: | 2023-05-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Elon Musk's Twitter is starting to morph into a version of Fox News. Earlier this month, Tucker Carlson announced he would relaunch his show on the platform. Twitter is starting to look a lot like a certain conservative cable giant. Earlier this month, disgraced former Fox News host Tucker Carlson announced he'd be bringing his show to Twitter. Ron DeSantis would be announcing his presidential campaign on Twitter in a conversation with Musk.

☆ ‘Fancy Bear Goes Phishing’ Review: The Art of Hacking Humans
▼ + stars: | 2023-05-17 | by ( Richard Lea | ) www.wsj.com time to read: 1 min

The ILOVEYOU computer worm. Photo: Sion Touhig/Sygma via Getty Images‘You may not be interested in hacking,” says Scott J. Shapiro, adapting a quote often attributed to Leon Trotsky, “but hacking is interested in you.” Estimates of the losses attributable to cybercrime vary between $600 billion and $6 trillion a year, he continues, citing the former IBM chief executive Ginni Rometty, who has said that if data is “the world’s new natural resource” then cybercrime “is the greatest threat to every profession, every industry, every company in the world.” But Mr. Shapiro isn’t panicking: “Much of what is said about hacking is either wrong, misleading, or exaggerated.”

☆ Leaked memo: Amazon Studios parts ways with a longtime MGM film exec and expands others' roles in shakeup
▼ + stars: | 2023-05-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Amazon Studios is shaking up its business ranks in the wake of its acquisition of MGM. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Feldman has been at Amazon Studios since 2015 and was a VP at MTV for about four years before that. Also getting new responsibilities is Sam Semon , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America. , who will have international business affairs consolidated under him, adding oversight for Ingrid Auyón Tanji, who leads business affairs in Latin America.

☆ GTIS' Tom Shapiro says the office real estate market is crashing
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGTIS' Tom Shapiro says the office real estate market is crashingTom Shapiro, GTIS president, joins 'Closing Bell: Overtime' to discuss the banking crisis fallout impact on commercial real estate.

The NCAA also argued the plaintiffs' division of damages unlawfully favored male athletes over female ones. In a statement, the NCAA said the plaintiffs' claims for "billions of dollars in damages" do not have "legal or factual support." Plaintiffs' lawyers for years have challenged rules that prohibited college athletes from receiving compensation. Class actions provide plaintiffs an avenue in court to pursue claims collectively rather than as individuals, imposing greater pressures on defendants. The plaintiffs' lawyers have asked the court to approve three classes seeking monetary damages: football and men's basketball; women's basketball; and an additional sports class.

☆ The Ice Cream Truck Across the Street Is Making Way Too Much Noise
▼ + stars: | 2023-04-29 | by ( Ronda Kaysen | ) www.nytimes.com time to read: +1 min

Food trucks cannot idle with the engine running. Street vendors “don’t want to cause problems because they’re out there on the street everyday,” said Matthew Shapiro, the legal director of Street Vendor Project at the Urban Justice Center. A decade ago, the city plugged a few food carts into the grid, but the initiative fizzled out. Now, the Street Vendor Project is working on a pilot program to power a few food carts with batteries to test the cleaner and quieter technology. If it’s successful (and gets funding), the technology could potentially work for larger food and ice cream trucks, too.

☆ Fact Check-Graphic does not show ‘New World Order’ UN goals
▼ + stars: | 2023-04-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The image does not show an official UN graphic, nor does it show goals set out by the UN, Sharon Birch, a spokesperson for the Sustainable Development Section at the UN told Reuters. “The list (including the goals) is not in any way associated with the United Nations. Moreover, the goals are neither included in Agenda 21 (here) nor the 2030 Agenda for Sustainable Development (here),” the spokesperson told Reuters. The 2030 Agenda for Sustainable Development consists of 17 goals including affordable and clean energy, gender equality and reduced inequalities and can be seen (here). The UN 2030 Agenda for Sustainable Development goals and Agenda 21 were adopted in 2015 and 1992 respectively and detail non-binding sustainable development goals.

☆ Supreme Court decision on Biden's student loan forgiveness plan is key for those who never finish college
▼ + stars: | 2023-04-26 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"Growing numbers of stop-outs and fewer returning students have contributed to the broader enrollment declines in recent years," said Doug Shapiro, executive director of the National Student Clearinghouse Research Center. "There's a variety of issues students face in college, many unexpected," said Rick Castellano, a spokesperson for Sallie Mae. Students with 'some college' more likely to defaultIf Biden's plan to cancel $400 billion in student loans is blocked, default rates may spike, the U.S. Department of Education has warned. But the borrowers most in jeopardy of defaulting are those who start college but never finish. The default rate among borrowers who leave with student debt but no degree is three times higher than the rate for borrowers who have a diploma.

☆ Layoffs loom in the US manufacturing sector as backlogs shrink
▼ + stars: | 2023-04-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

And surveys from the Institute for Supply Management show that the manufacturing sector has been contracting for several months, while fewer manufacturers report an increase in backlogs. “We’re only seeing a gradual pullback in hiring for manufacturing, even as new demand slows, because these backlogs are still helping sustain activity,” she said. Manufacturing saw job losses in February for the first time in 21 months, according to the Bureau of Labor Statistics. There were additional manufacturing job losses in the following month. However, while manufacturing layoffs are expected, they are likely to be limited.

☆ Inside the Wild World of Celebrity Keynote Speakers: Drugs, Alcohol
▼ + stars: | 2023-04-23 | by ( David Kushner | ) www.businessinsider.com time to read: +31 min

"I never saw myself as a speaker, let alone a motivational speaker," Leonard tells me while his assistant irons his jeans. 'When I ramble," Hunter told me, "hit me in the leg!" Every plane had been grounded, including the one stuck on the tarmac with an increasingly inebriated Hunter Thompson trapped inside. But by far the most all-consuming task was booking gigs for Hunter Thompson. Just before a debate with G. Gordon Liddy at Brown University, Hunter demanded that Betsy Berg, whom I now worked alongside at GTN, score him some crystal meth.

☆ The Fight Over a Drug That Is Great for Horses but Horrific for Humans
▼ + stars: | 2023-04-20 | by ( Jan Hoffman | ) www.nytimes.com time to read: +2 min

Josh Shapiro of Pennsylvania, where the Philadelphia neighborhood of Kensington is ground zero for tranq dope, announced that his administration was doing so. Since then, it has been used for procedures on sheep, deer, elk and even cats and dogs, as well as on horses and cattle. Earlier trials in humans had been shut down because the drug led to respiratory depression, so manufacturers never sought approval for human use. And unlike the protocols for opioids, those for reversing tranq dope withdrawal or managing rehabilitation have not been standardized. Schedule III includes buprenorphine and the anticonvulsant drug gabapentin.

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