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The central bank on Wednesday will release the results of its bank "stress tests" which assess how much capital banks would need to withstand a severe economic downturn. The annual exercise, introduced following the 2007-2009 financial crisis, is integral to banks' capital planning, dictating how much cash they can return to shareholders via dividends and share buybacks. Despite the turmoil, and the exam being the hardest in years, bank analysts and executives expect the 23 lenders being tested will show capital in excess of regulatory minimums. While that will not affect capital, it will be used to assess potentially employing multiple scenarios in future stress test exercises. "In an environment of ever-changing risks, stress tests can quickly lose their relevance if their assumptions and scenarios remain static," said Barr in December.

Persons: Nick Zieminski WASHINGTON, JPMorgan Chase, Goldman, Morgan Stanley, jitters, Wells, Jefferies, Randal Quarles, Michael Barr, Barr, Pete Schroeder, Michelle Price, Deepa Babington Organizations: Citibank, REUTERS, Big U.S, Bank, U.S, Treasury, Citigroup Inc, Bank of America, JPMorgan, Goldman Sachs, Capital, U.S . Bancorp, Citizens, Fed, Bank Policy Institute, RBC, Thomson Locations: Jackson, Queens, New York City, U.S, Big, Silicon, Wells Fargo, Washington

☆ 10 Things in Tech: Airbnb's Montana smackdown, Microsoft whining, Salesforce worrying, and Reddit rage
▼ + stars: | 2023-06-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

I'm Insider's global tech editor Alistair Barr, and I've been missing people a lot lately. Airbnb Montana smackdown: Life in the town of Bozeman is harder thanks to short-term rentals. That sparked a boom in Airbnb and Vrbo properties in the town, causing rents and property prices to surge. They are concerned about retaining talented colleagues, their future at Salesforce, and how leadership decisions adhere to the company's core values. Submit your nomination for Insider's 5th annual list recognizing first-time and newly named top marketers at consumer brands.

Persons: Alistair Barr, I've, I'd, we're, let's, Brian Chesky Mike Segar, Airbnb Montana, Dan Latu, Justin Sullivan, Read, Nassim Taleb, SoftBank, it's, that's, Bowties, India Narendra Modi, Mark Zuckerberg, Elon Musk, Kevin Dietsch, Dana White, Lisa Ryan, Jack Sommers Organizations: Bozeman Tenants United, Getty, Microsoft, Silicon Valley titans, White House, UFC, Insider's Locations: Bozeman, Airbnb, Seattle, Washington, Salesforce, Silicon, India, China, Silicon Valley, New York, London

☆ Trump gets first GOP endorsements since his indictment in classified documents case
▼ + stars: | 2023-06-23 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +5 min

Trump, the clear frontrunner in the race for the 2024 GOP presidential nomination, was also endorsed by North Carolina Lt. Gov. As if to drive home that point, the same crowd that cheered Robinson also loudly booed another GOP presidential candidate, former New Jersey Gov. Reschenthaler, the House Republican chief deputy whip, is the second member of the chamber's GOP leadership to endorse Trump after House Republican Conference Chair Rep. Elise Stefanik of New York. Ron DeSantis, Trump's nearest Republican primary competitor, has so far amassed five congressional endorsements. Polls of the GOP primary field showed Trump widening his lead after his first indictment.

Persons: Donald Trump, Trump, Mark Robinson, Robinson, William Barr, Chris Christie, Christie, Mike Kelly, Dan Meuser, Scott Perry, Guy Reschenthaler, John Joyce, Reschenthaler, Elise Stefanik, Ron DeSantis, Fred Keller, Carla Sands, It's, Sen, Cindy Hyde, Smith, Andrew Clyde, Mike Pence, South Carolina Sen, Tim Scott, Nikki Haley, Vivek Ramaswamy, Asa Hutchinson, Miami Mayor Francis Suarez, Roe, Wade, Scott, Pence, Trump's Organizations: U.S, GOP, Columbus Convention, Trade Center, White, Republicans, North, Gov, Trump, White House, Republican, Republican Party, New, New Jersey Gov, Pennsylvania Federal Leadership Team, Keystone State, House Republican, NBC, Florida Gov, CNN, South, Former United Nations, Arkansas Gov, Miami Mayor, Democratic Locations: Georgia, Columbus , Georgia, Pennsylvania, North Carolina, New Jersey, Trump's, Washington ,, New York, Pennsylvania's, Denmark, Manhattan, Florida, South Carolina, Arkansas

☆ Study reveals how immune system of astronauts breaks down
▼ + stars: | 2023-06-22 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/3] The International Space Station (ISS) is photographed by Expedition 66 crew member Roscosmos cosmonaut Pyotr Dubrov from the Soyuz MS-19 spacecraft, in this image released April 20, 2022. "A weaker immunity increases the risk of infectious diseases limiting astronauts' ability to perform their very demanding work in space. Gene expression in 247 genes in leukocytes was at about one third the normal levels while in space, the study found. Before this paper, we knew of immune dysfunction but not of the mechanisms," said study co-author Guy Trudel, an Ottawa Hospital rehabilitation medicine specialist. Discovering altered gene behavior in leukocytes is "a significant step toward understanding human immune dysregulation in space," Trudel added.

Persons: Pyotr Dubrov, Odette Laneuville, Guy Trudel, Trudel, Epstein, Barr, Will Dunham, Rosalba O'Brien Organizations: Space, Expedition, Soyuz, REUTERS, WASHINGTON, University of Ottawa, Canadian Space Agency, NASA, Ottawa Hospital, Thomson Locations: Handout, Canada, Ottawa

☆ Credit-card crackdown will net limited rewards
▼ + stars: | 2023-06-22 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 22 (Reuters Breakingviews) - With more than two open accounts for every American, credit cards are practically part of the family. The point of credit cards is to make spending easier, yet in practice their complexity rivals the edgiest financial derivatives. At Capital One, late fees account for a little less than $2 billion of revenue, or roughly 5%, a year. If late fees have raised hackles among U.S. lenders, they’re only a taste of what could lie in store. Currently, issuers can charge $30 for a first late payment and $41 for late payments thereafter if they happen within the following six billing cycles.

Persons: Joe Biden’s, Biden, Banks, don’t, Goldman Sachs, Rohit Chopra, Michael Barr, that’s, There’s, Chase, they’re, –, Joe Biden, Jeffrey Goldfarb, Oliver Taslic Organizations: YORK, Reuters, JPMorgan, Consumer Financial, Bureau, American Bankers Association, Citigroup, Federal Reserve, Securities and Exchange Commission, Discover Financial Services, Bank of America, One, Fed, Biden, University of Michigan, Apple, Chase Sapphire, American Express, Capital, U.S, Consumer Financial Protection Bureau, New York Fed, Thomson Locations: U.S, United Kingdom

Bank regulators led by the U.S. Federal Reserve are finalizing the proposal which would implement international capital standards agreed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. On Wednesday, Fed Chair Jerome Powell told Congress it was critical banks have strong capital, but regulators must be mindful of the tradeoffs. Republican officials at the agencies have flagged similar concerns, two people said, while Republican lawmakers on Wednesday also raised worries over capital rules with Powell. The Fed is drafting the Basel rules with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corp. (FDIC). Speaking to reporters last week, acting Comptroller Michael Hsu said banks had "not been shy about sharing their concerns" which regulators were taking into account.

Persons: Morgan Stanley, Andrew Kelly, Jerome Powell, Michael Barr, Isaac Boltansky, jitters, Powell, “, Kevin Fromer, It's, Michael Hsu, Pete Schroeder, Niket Nishant, Lananh Nguyen, Tatiana Bautzer, Michelle Price, David Gregorio Organizations: New York Stock Exchange, REUTERS, WASHINGTON, Bank, U.S . Federal, Banking, Bankers, Committee, American Express, U.S, UBS, Deutsche Bank, Barclays, Washington, Bank Policy Institute, WALL, Fed, Industry, Republican, Financial Services, Currency, Federal Deposit Insurance Corp, Regulators, FDIC, OCC, Thomson Locations: Manhattan , New York City, U.S, Basel, Silicon

☆ Amazon Prime FTC suit: How Insider's investigation led to a crackdown on the e-commerce giant
▼ + stars: | 2023-06-21 | by ( Alistair Barr | Eugene Kim | ) www.businessinsider.com time to read: +4 min

Insider's investigation revealed that Amazon knowingly duped consumers into Prime subscriptions. The suit was the result of an Insider investigation in early 2022. One of those letters, reviewed by Insider, said the FTC made a Civil Investigative Demand to Amazon in March 2021. A CID is a legal document enforceable in court that seeks documents or other information related to an FTC investigation. In April 2022, the FTC sent more correspondence about the issue to Amazon lawyers, according to the letter, which cited Insider's original story from March 2022.

Persons: Amazon, Bezos, Eugene Kim, Graham Starr, CIDs, Andy Jassy, Dave Clark, Doug Herrington, Russ Grandinetti, Greg Greeley Organizations: Federal Trade Commission, Amazon, FTC, CID, Bezos Locations: Washington, Amazon's

☆ House GOP retirement fund bill takes aim at ESG investing
▼ + stars: | 2023-06-21 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

House Republicans are continuing their attempt to pump the brakes on so-called "woke" investing with new legislation that could place limits on financial advisors and retirement funds. Rep. Andy Barr, R-Ky., will introduce a bill Wednesday that would target funds that consider environmental, social and governance issues, known as ESG. Barr's measure would update the Employee Retirement Income Security Act to require retirement funds to focus only on maximizing profits, limiting the ability to invest in ESG options. In addition, advisors would need to disclose the difference in fees and performance between ESG funds and a similar index. Proponents say ESG investing is intended to promote the social good, although critics say it hurts investors.

Persons: Andy Barr, Kevin McCarthy, Bill Huizenga, Barr, fiduciaries, Jared Golden, Joe Manchin, Jon Tester —, Joe Biden, who's, Andy Beshear, Brad Sherman Organizations: Investments, U.S, Capitol, Republicans, CNBC, Biden, — Rep, Sens, Senate, Financial, Republican, Democratic, California Democrat, Financial Services Locations: Ky, ESG, America, Kentucky, California

Fed Governor Christopher Waller warned on Friday "core inflation is not coming down like I thought it would." Richmond Fed President Thomas Barkin said he was "comfortable" with further rate increases given that inflation was still not on the path back to 2%. Markets now await comments from more Fed officials including Fed Vice Chair Michael Barr later in the day, and Fed Chair Jerome Powell's semiannual monetary policy testimony to the U.S. House Financial Affairs Committee on Wednesday. Adding to the dour mood, China cut its benchmark lending rates by a smaller-than-expected 10 basis points. U.S.-listed shares of Chinese companies including Alibaba Group , JD.com and PDD Holdings (PDD.O) fell between 1% and 6% in premarket trading.

Persons: Eli Lilly, Christopher Waller, Thomas Barkin, CMEGroup's, Waller, Barkin, Michael Barr, Jerome Powell's, Powell, Hogan, Daniel Zhang, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi Organizations: Therapeutics, Dow, Nasdaq, Federal Reserve, Richmond Fed, Traders, Microsoft, U.S . House Financial, Housing, Capitol, Riley, Fed, Alibaba, PDD Holdings, Dow e, Adobe Inc, Ford, General Motors, Tesla Inc, Dice Therapeutics, Thomson Locations: China, U.S, Bengaluru

☆ 10 Things in Tech: Google tells employees not to give AI chatbots confidential information, the rise of the ‘anti-work girlboss,’ and 31 rising stars of Los Angeles investing
▼ + stars: | 2023-06-20 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg at Facebook's first ever Meta Store Facebook/Meta1. The first "Meta Store" opened last year in Northern California and was designed to increase interest in Meta's VR headsets. Although a second store was in the works, someone familiar with the matter said that those plans faltered after slowed revenue. Google tells employees not to put confidential info into AI chatbots — including its own Bard. Reddit CEO Steve Huffman said subreddit mods have too much power.

Persons: I'm, Siu, Zers, haven't, Jordan Hart, Mark Zuckerberg, Facebook's, Martin Gilliard, hasn't, Kali Hays, chatbots, Steve Huffman, Mudassir Sheikha, Ron DeSantis, Thiep Van Nguyen, Lionel Richie, Diamond Naga Siu, Alistair Barr, Hallam Bullock Organizations: Meta, VR, Big Tech, Google, Tech, Tesla, Gov, Puget Sound Naval Shipyard, Navy, Hewlett Packard Enterprise, VMWare, Dallas Cowboys, Mitsubishi Locations: Sacramento, Northern California, Angeles, Florida, Connecticut, USS Connecticut, Dublin, Ireland, Melbourne, Australia, Las Vegas, San Diego, San Francisco, London

Eight of the 11 S&P 500 sub-sectors were in the red, with the energy index (.SPNY) leading declines. U.S. markets ended lower on Friday as comments from Fed officials curtailed optimism that the central bank was nearing the end of its aggressive interest rate hikes. Traders now see a 72% chance of Fed hiking its key benchmark rates by 25 basis points in July, according to CMEGroup's Fedwatch Tool. Declining issues outnumbered advancers for a 2.43-to-1 ratio on the NYSE and a 1.82-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and no new low, while the Nasdaq recorded 38 new highs and 40 new lows.

Persons: Eli Lilly, Tesla, Rivian, homebuilding, Sam Stovall, CMEGroup's, Michael Barr, Jerome Powell's, Morgan Stanley, Daniel Zhang, advancers, Shristi Achar, Shubham Batra, Johann M, Vinay Dwivedi, Shounak Organizations: Therapeutics, Nike, Dow, Nasdaq, U.S . Federal Reserve, CFRA Research, Tesla Inc, Reuters, EV, U.S . House Financial, PayPal Holdings, KKR & Co, Alibaba, PDD Holdings, Dow Jones, Adobe Inc, Dice Therapeutics, NYSE, Thomson Locations: U.S, Europe, China, Bengaluru

☆ Donald Trump, who claimed to only hire the best people, was thoroughly asked why so many key players of his administration do not want him to be president again.
▼ + stars: | 2023-06-20 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +3 min

Baier reminded Trump he said he was going to hire the "best" people to his administration in 2016. He then pointed out much of Trump's former administration doesn't support his 2024 White House bid. Look, we had the best economy we've ever had, the world has ever seen." This week, you called your White House Chief of Staff John Kelly 'weak and ineffective' and 'born with a very small brain.' You called your acting White House Chief of Staff Mick Mulvaney a 'born loser.'

Persons: Donald Trump, Bret Baier, Baier, Trump, —, Bret Baier's, Mike Pence, Nikki Haley, she's, Mike Pompeo, he's, John Bolton, He's, Bill Barr, Barr, John Kelly, Mick Mulvaney, Rex Tillerson, James Mattis, Kayleigh McEnany, you've, Elaine Chao, Mitch McConnell's, I'm Organizations: Fox News, Service, White, United Nations, State, Getty, ISIS Locations: Mitch McConnell's China

☆ Morning Bid: US housing rebound, China prime cuts
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +4 min

The main macroeconomic news overnight was a rather underwhelming Chinese rate cut that seemed to disappoint the local stock and currency markets, both of which fell. The People's Bank of China cut two benchmark lending rates - its one-year and five-year loan prime rates - by 10 basis points each. With Goldman Sachs on Monday the latest to cut China growth forecasts for this year and next, nerves about the economy's trajectory are rising again. The big U.S. data input this week is from the housing sector, where signs of some recovery are reinforcing 'soft landing' hopes for the wider economy. On Monday, the NAHB's house market sentiment index rose in June to its highest in almost a year and far above forecasts.

Persons: Mike Dolan, Goldman Sachs, Xi Jinping, Antony Blinken, Joe Biden, what's, BOE, Jerome Powell, Michael Barr, John Williams, St Louis, James Bullard, Narendra Modi, Susan Fenton Organizations: Nasdaq, People's Bank of China, Washington, China's, of, Global, Bank of, Federal Reserve, FedEx, Philadelphia Fed, Federal, New York Fed, St, St Louis Fed, Indian, United States Reuters Graphics Reuters, Thomson Locations: U.S, China, Xi, Europe, Britain, Switzerland, Norway, Turkey, Bank, Bank of England, United

☆ Trump offers dizzying new justifications for classified documents as former Cabinet secretaries sound the alarm
▼ + stars: | 2023-06-20 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

Trump’s defense secretary who preceded Esper, James Mattis, had already turned full throttle against Trump before the 2020 election. He opposes Trump’s prosecution in New York by Manhattan District Attorney Alvin Bragg, a Democrat, for alleged participation in a hush money scheme before the 2016 election. He also questions whether Trump should be prosecuted in connection with January 6, 2021, or his efforts to overturn the 2020 presidential election. Any ultimate prosecution with regard to the 2020 election could be a mistake, Barr said, arguing a candidate should have First Amendment rights. There’s an even larger questionRepublicans can defend Trump against prosecution all they want, but for Barr, that’s not the point.

Persons: Donald Trump, “, ”, Bret Baier, Trump, –, didn’t, William Barr, ” Barr, Barr, Mueller, ‘, ’ Barr’s, Mark Esper, Jake Tapper, ” Esper, Esper, Walt Nauta, James Mattis, Sen, Jeff Sessions –, Trump’s, Mike Pence, NBC’s “, it’s, Jim Jordan, they’re, Attorney Alvin Bragg, he’s, I’ve, Fani Willis, Jack Smith, that’s, Robert Costa, ” Barr wasn’t Organizations: CNN, White House, National Archives, Records Administration, Fox News, Republican, CBS, Free Press, Capitol, Trump, White, Senate, Press, GOP, Ohio, Manhattan, Attorney, Democrat, “ Fox Locations: Iran, Bedminster , New Jersey, “ State, New York, Fulton County , Georgia, Fulton County, Georgia

☆ Stock futures inch lower as investors kick off holiday-shortened week of trading: Live updates
▼ + stars: | 2023-06-19 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures ticked lower on Monday evening as investors looked ahead to a holiday-shortened week of trading. Futures tied to the Dow Jones Industrial Average slipped 93 points, or 0.3%, while S&P 500 futures pulled back 0.2%. Investors were seemingly receptive toward the central bank's decision to skip a June rate hike last week. Investors are trying to gauge how last week's strong market sentiment will hold up in a shortened trading week that is light on economic data. New York Fed President John Williams will appear with Fed Vice Chair for Supervision Michael Barr at a corporate governance event in New York City on Tuesday.

Persons: —, Jerome Powell, John Williams, Michael Barr, Powell Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Federal, Fed, Housing, New York Fed, FedEx Locations: New York City

☆ Barr says Trump is a 'troubled man' who lied to the Justice Department and deserves to be prosecuted
▼ + stars: | 2023-06-18 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Former Attorney General William Barr said Sunday he believes Donald Trump deserves to be prosecuted. Barr told CBS that his former boss's handling of classified documents was "indefensible." Barr said he believes that Trump lied to the Department of Justice when he had his lawyers claim that he had returned all classified documents. "That's not unfair to Trump," Barr said, "because this is not a case where Trump is innocent and being unfairly hounded. Barr asked, arguing that the classified documents case is "not just an isolated example."

Persons: William Barr, Donald Trump, Barr, Trump, —, Robert Mueller's, Barr —, Donald Trump's, he's, Hillary Clinton, Clinton, it's, Mark Esper, CNN's, Esper Organizations: CBS, Service, Republican, White, Department of Justice, Republicans, State, Department of, Trump Locations: Robert Mueller's Russia, Iran

Several Republican 2024 presidential hopefuls criticized Donald Trump Sunday as the former president faces 37 federal counts for allegedly hoarding documents after he left the White House. "He's a petulant child when someone disagrees with him," Christie told CNN's "State of the Union" Sunday. Presidential hopeful and former Vice President Mike Pence said it is "premature" to say whether or not he would pardon Trump were he to be convicted. "All we know is what the president has been accused of in the indictment," Pence told NBC's "Meet the Press" Sunday. But Trump had a supporter on Sunday in Republican presidential candidate Vivek Ramaswamy who has said the former president should be pardoned if convicted.

Persons: Mike Pence, Donald Trump, Trump, —, Bill Barr, John Kelly, Chris Christie, Christie, CNN's, Pence, NBC's, Joe Biden, Asa Hutchinson, Hutchinson, I'm, Vivek Ramaswamy, Ramaswamy, Martin Luther King Jr Organizations: Republican, Donald Trump Sunday, White, Former New Jersey Gov, Union, Sunday, Press, Republican National, Arkansas Republican, Federal Bureau of, Fox, Civil Locations: Ankeny , Iowa, United States, Arkansas

☆ Barr Says Documents Case Against Trump Is ‘Entirely of His Own Making’
▼ + stars: | 2023-06-18 | by ( Chris Cameron | ) www.nytimes.com time to read: +1 min

William P. Barr, who served as attorney general under President Donald J. Trump, excoriated his former boss on Sunday for “reckless conduct” that led to Mr. Trump’s indictment on charges of mishandling classified documents, saying that the case was “entirely of his own making.”Mr. Barr, in an interview with CBS News’s “Face the Nation,” walked through the severity of the charges against Mr. Trump. He described the former president’s actions — laid out in a 49-page indictment — as harmful not only to the country, but also to the Republican Party and the conservative movement that Mr. Trump leads. Mr. Barr also attacked Mr. Trump’s character in extraordinary language, describing him as “a consummate narcissist” and a “fundamentally flawed person” who would always put his own ego ahead of everything else. He added that he believed Mr. Trump had lied to the Justice Department about the classified documents in his possession. “He’s like a defiant 9-year-old kid who is always pushing the glass towards the edge of the table, defying his parents from stopping him from doing it,” Mr. Barr said, adding that “our country can’t be a therapy session for a troubled man like this.”

Persons: William P, Barr, Donald J, Trump, excoriated, Mr, ”, —, “, ” Mr Organizations: CBS, Mr, Republican Party, Justice Department

☆ 10 Things in Tech: Oracle rescinds job offers, Twitter is getting evicted, and CEOs predict what’s next
▼ + stars: | 2023-06-16 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

Big thanks to my amazing colleagues Hallam Bullock, Nathan Rennolds, and Lara O'Reilly for covering the newsletter while I was out. My colleague Sonam Sheth, however, is quite confused as to why hundreds of other people are also watching it. This setup means Amazon gets to list more items as eligible for free Prime shipping without having to significantly expand warehouses. They have to ship over 99% of their orders on time with an order cancellation rate of less than 0.5%. The US gives Russia's nuclear program about $1 billion every year.

Persons: It's, I'm, Siu, Hallam Bullock, Nathan Rennolds, Lara O'Reilly, I've, Sonam Sheth, Scott Olson, Eugene Kim, They've, Read, Elon, Valentina Tereshkova, Con —, Tupac, Diamond Naga Siu, Alistair Barr Organizations: Wall Street, Getty, Oracle, Twitter, Ikea, Benz, Washington Locations: Colorado, Spain, Portugal, Paris, California, San Diego, San Francisco, London

☆ Australia seeks to terminate lease of new Russian embassy near Parliament House
▼ + stars: | 2023-06-14 | by ( Alex Stambaugh | ) edition.cnn.com time to read: +1 min

CNN —The Australian government is introducing legislation to terminate a lease of a new Russian embassy near Parliament House in the capital Canberra, Australian Prime Minister Anthony Albanese said Thursday. “The government has received very clear security advice as to the risk presented by a new Russian presence so close to Parliament House,” Albanese told reporters in a televised press conference. The land proposed for the second Russian embassy lies directly adjacent to Parliament House, Australian Home Minister Clare O’Neil said alongside Albanese. “We’re acting quickly to ensure the leased site does not become a formal diplomatic presence,” the prime minister said. The prime minister said that coalition leadership had been briefed and would be supporting the legislation.

Persons: Anthony Albanese, “, ” Albanese, Australian Home Minister Clare O’Neil, Albanese, “ We’re, ”, Andrew Barr Organizations: CNN, Australian, House, Australian Home Minister, ”, Senate, Australian Capital Territory Locations: Russian, Canberra, Australia, Ukraine

☆ Opinion | A President Governing From Behind Bars?!
▼ + stars: | 2023-06-14 | by ( Nicholas Kristof | ) www.nytimes.com time to read: +1 min

First, it seems increasingly plausible that he will become the first former president to be convicted of a felony. Second, he also seems increasingly likely to win the Republican nomination for president, with the betting markets also giving him about a 22 percent chance of going on and actually being elected president. But some smart lawyers believe that for Trump, the “peril is extreme,” as one former federal prosecutor put it. Still, deference may end upon conviction, and defendants in less serious cases have ended up with substantial prison sentences. And during Trump’s presidency, Reality Winner leaked a single document and was sentenced to more than five years in prison.

Persons: Trump, William Barr, ” Trump, it’s Organizations: Republican, Trump, Air Force Locations: Florida

☆ Opinion: Trump’s case is a crucial test for justice in America
▼ + stars: | 2023-06-14 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +9 min

This is the first time a former American president has been arraigned on federal charges. Jill Filipovic Courtesy of Jill FilipovicFormer President Donald Trump pleaded not guilty to all 37 federal charges at a federal courthouse in Miami on Tuesday afternoon. The indictment says that Trump willfully retained national security information, violated the Espionage Act more than 30 times, and conspired to obstruct justice, among other crimes. What is clear, though, is that this case will be a test of the US justice system and the strength of national institutions in a (for now) post-Trump America. Any president who is found to have used national security documents for bragging rights and flouted American law must be held accountable.

Persons: Jill Filipovic, Donald Trump, “, Trump, Trump’s, Bill Barr, Aileen Cannon, Trump –, Judge Cannon, –, ”, Kevin McCarthy, Chris Christie, Mitch McConnell, Joe Biden Organizations: Twitter, CNN, US, Fox News, Trump America, FBI, Republican, GOP, Republican Party, Trump, Justice Department, Gallup, Facebook Locations: New York, American, Miami, United States, Florida, Mar, America, –, New Jersey

☆ Fox News said its chyron calling Biden a 'wannabe dictator' was immediately taken down and 'addressed'
▼ + stars: | 2023-06-14 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

A Fox News chyron called Biden a "wannabe dictator" who had his "political rival" Donald Trump arrested. Fox said in a statement Wednesday that "the chyron was taken down immediately and was addressed." Fox did not explain how the message made it onto the screen and how the matter was addressed. While Fox News aired Trump's speech live, MSNBC did not. MSNBC's Rachel Maddow made a similar pronouncement before that network chose not to air Trump's speech live.

Persons: chyron, Biden, Donald Trump, Mediaite, —, Joe Biden, Fox, General Merrick Garland, Jack Smith, Trump, Karine Jean, Pierre, — Trump, Joe Tacopina, Sean Hannity's, William Barr, Jonathan Turley, Tucker Carlson, Carlson, Sara Just, Chris Licht, Jake Tapper, Tapper, It's, It's Mr, Rachel Maddow, Maddow Organizations: Fox, Service, — Fox, PBS, Trump, CNN, Fox News, White, Twitter, YouTube, MSNBC, GOP Locations: New Jersey, Jersey, New York

☆ Nvidia GPUs are so hard to get that rich venture capitalists are buying them for the startups they invest in
▼ + stars: | 2023-06-13 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Nvidia GPUs are essential for training the big models behind ChatGPT and other generative AI tools. That gives big tech companies an advantage over smaller startups. Nvidia GPUs are the water that feeds today's flourishing AI ecosystem. This is giving Big Tech companies another huge advantage over smaller upstarts. Many startups can't afford that, or they just can't get hold of the chips.

Persons: TSMC, OpenAI, Bing, Nat Friedman, Daniel Gross, That's, Friedman, Gross, Jack Clark Organizations: Nvidia, Big Tech, Microsoft, Google

☆ Republican response to Trump indictment shows they're stitching their own straitjacket
▼ + stars: | 2023-06-13 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +14 min

The roar of outrage from Republican leaders to that indictment restored Trump’s grip on the party after frustration over his role in the GOP’s disappointing 2022 midterm elections had loosened it. Repeating the pattern from other moments of maximum threat to Trump, the GOP response has been marked by a pronounced communications imbalance. (The poll was conducted after Trump’s indictment in Manhattan but before the recent federal charges.) At another point Trump insisted, “These criminals cannot be rewarded” – presumably by frightening Republican voters away from nominating him. Yet, Robinson believes, by echoing Trump’s claims of unfair treatment, the other candidates are encouraging Republican voters to accept his framing of the race.

Persons: Donald Trump’s, Trump, Kevin McCarthy, South Carolina Sen, Lindsey Graham, Trump’s, Chris Christie, Asa Hutchinson, –, William Barr, John Bolton, John Thune –, ”, he’s, Ruth Ben, Ghiat, thrall, “, “ Strongmen, Mussolini, Silvio Berlusconi, Berlusconi, machina, Bill Kristol, Jack Smith, Fani Willis –, Dave Wilson, Craig Robinson, “ Donald Trump, Joe Biden, Jennifer Horn, ” –, “ They’ve, Donald Trump, ” Robinson, Robinson, Asa Hutchison, ” Kristol, Biden, Nikki Haley –, Mike Pence, Pence, she’s, ” Ben Organizations: CNN, Republican, Trump, GOP, Marxist, Republicans, NPR, PBS, Marist, Whites, CBS, Forza Italia, New York University, District, Iowa Republican Party, New, Georgia GOP, “, Trump “ Locations: Manhattan, South Carolina, lockstep, Fulton County , Georgia, New Hampshire, Georgia, America, Thune, Trump, Trump’s, South Africa, Chile

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