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The Supreme Court on Thursday rejected one of the primary ways the Securities and Exchange Commission enforces laws against securities fraud. The S.E.C.’s practice, Chief Justice John G. Roberts Jr. wrote for a six-justice majority in a decision divided along ideological lines, violated the right to a jury trial. “A defendant facing a fraud suit has the right to be tried by a jury of his peers before a neutral adjudicator,” the chief justice wrote. The case is one of several challenges this term to the power of administrative agencies, long a target of the conservative legal movement. The court last month rejected a challenge to the constitutionality of the way the Consumer Financial Protection Bureau is funded.
Persons: John G, Roberts, , , Chevron Organizations: Securities and Exchange, Consumer Financial
The South by Southwest festival, which dozens of artists withdrew from this year to protest its sponsorship by the U.S. Army and defense contractors in light of their ties to Israel, announced this week that it would no longer accept their support. “After careful consideration, we are revising our sponsorship model,” the festival, which is held each year in Austin, Texas, said in a brief statement on its website. “As a result, the U.S. Army, and companies who engage in weapons manufacturing, will not be sponsors of SXSW 2025.”No further details were offered, and SXSW declined to elaborate on the statement. “We look forward to a chance to work together in the future,” said Lt. Col. Jamie Dobson, the public affairs officer at the Army Futures Command in Austin, which works on technology and innovation. And we were very proud of the partnership we had this past year.”
Persons: , , Jamie Dobson, A.F.C, It’s Organizations: Southwest, U.S . Army, SXSW, Austin for Palestine Coalition, Army, Army Futures Command Locations: Israel, Austin , Texas, Austin, Palestine
Read previewThe oceans are our planet's largest carbon sink, naturally absorbing about 25% of the carbon dioxide that humans emit. Carbon dioxide removal (CDR) companies like Equatic are trying to harness that natural process to absorb even more. On June 18, Equatic announced it started engineering designs for the world's first commercial-scale, ocean-based CDR plant, Sanders said. The plant could remove carbon dioxide at a rate that's 99,000 times as fast as the oceans. Questions remain about CDR's economic and environmental impactAs ocean-based CDR technology scales up, concerns grow over its environmental impact.
Persons: , Edward Sanders, Equatic, Sanders, Grace, Weiquan Lin, we're, Sergii Petruk, Jessica Cross, Cross Organizations: Service, Business, National Academies of Science, Engineering, Companies, Boeing, Equatic, Pacific Northwest National Laboratory Locations: LA, Singapore
Inflation’s Wild Ride
  + stars: | 2024-06-26 | by ( Jeanna Smialek | Karl Russell | Lazaro Gamio | ) www.nytimes.com   time to read: +4 min
Coming into and through 2019, the economy was strong and the Consumer Price Index, a key measure of inflation, was low. For some, that seemed like a bad thing — economists worried that chronically low inflation could increase the risk of future economic stagnation. The Personal Consumption Expenditures index, a slightly delayed price measure that the Fed uses for its 2 percent inflation target, similarly fell. Within a few months, inflation began to pick up. Price jumps began to moderate even in service categories, which made economists hope that the deceleration might be the real deal.
Persons: , Biden, Donald J, Trump, Price, ” Jerome H, Powell, ” Mr Organizations: Fed, Consumer, Federal Locations: Covid, Ukraine, blowups
The Federal Reserve said Wednesday that the biggest banks operating in the U.S. would be able to withstand a severe recession scenario while maintaining their ability to lend to consumers and corporations. The stress test assumed that unemployment surges to 10%, commercial real estate values plunge 40%, and housing prices fall 36%. "This is good news and underscores the usefulness of the extra capital that banks have built in recent years." The Fed's stress test is an annual ritual that forces banks to maintain adequate cushions for bad loans and dictates the size of share repurchases and dividends. "While banks are well positioned to withstand the specific hypothetical recession we tested them against, the stress test also confirmed that there are some areas to watch," Barr said.
Persons: Michael Barr, JPMorgan Chase, Goldman Sachs, Barr, Banks Organizations: Financial, Valley Bank, Signature Bank, Capitol, Washington , D.C, Federal Reserve, JPMorgan, American Express Locations: Washington ,, U.S
Quiet in the C-suiteThree years ago, corporate leaders openly spoke out against Donald Trump over his role in the Jan. 6, 2021, Capitol attack. But as the former president leads in many polls this time around, most in the C-suite are staying quiet. In 2021, C.E.O.s including Mary Barra of General Motors and Doug McMillon of Walmart publicly urged a peaceful transition of power. Only a handful of executives have publicly supported Trump, who was willing to go after perceived enemies in corporate American when he was in office. It’s highly unlikely that tally will reach 902, the number of times the topics were mentioned in 2020 during the same period.
Persons: Donald Trump, Mary Barra, Doug McMillon, Trump, Biden, It’s Organizations: Capitol, General Motors, Walmart
Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Many taxpayers are experiencing "long delays and uncertainty" amid a backlog of roughly 1.4 million pandemic-era small business tax credit claims, according to the National Taxpayer Advocate. "It’s time for the IRS to be transparent on how and when it plans to move forward addressing these ERC claims," she wrote. Some 85% of pending ERC claims are more than 120 days old. "The IRS is between the proverbial rock and a hard place when it comes to ERC claims," Collins said in a statement.
Persons: Erin Collins, Collins Organizations: Taxpayer Advocate Service, Washington , D.C, National Taxpayer, ERC, IRS, Finance Locations: Washington ,, U.S
Read previewThe actor who played Blood in "House of the Dragon" season two broke down how the gruesome first episode was filmed in an interview with Business Insider. The child actors on the "House of the Dragon" set weren't involved in the killingMark Stobbart as Cheese and Sam C. Wilson as Blood in "House of the Dragon" season two. AdvertisementDon't worry, they didn't actually kick the dogBobby the dog in "House of the Dragon." HBOWilson and Stobbart were somewhat upstaged by the cute canine costar who accompanies Blood and Cheese on their mission. AdvertisementBlood's death in episode two was nearly much more gruesomeSam C. Wilson as Blood in "House of the Dragon."
Persons: , Daemon Targaryen, Matt Smith, Sam C, Wilson, Stobbart, Prince Aemond Targaryen, Ewan Mitchell, Helaena, Phia Saban, Mark Stobbart, Ollie Upton, It's, Bobby, HBO Wilson, Cheese, didn't, Tom Glynn, Carney, I'd, Kit Harington, Richard Madden, Emilia Clarke, Bella Ramsey, Orlando Bloom, Sean Bean, Paddy Considine, There's Organizations: Service, Business, HBO, King Aegon, Aegon
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia: Here's why Cantor Fitzgerald raised its price target on the stockC.J. Muse, Cantor Fitzgerald analyst, joins 'Squawk on the Street' to discuss Nvidia before the chipmaker's shareholder meeting.
Persons: Cantor Fitzgerald Organizations: Nvidia
Across New York, a slew of Democratic primaries for State Assembly on Tuesday were expected to extend the battle lines between moderate and progressive Democrats over the direction of the party, a fight that has been raging since 2018. Instead, the prevailing factor seemed to be the power of incumbency. In one of the most-watched races, Assemblywoman Stefani Zinerman defeated Eon Huntley, who was supported by the Democratic Socialists of America. Ms. Zinerman, who represents the Bedford-Stuyvesant neighborhood in Brooklyn, had the support of two of the biggest Democratic names in the state, Hakeem Jeffries, the House Democratic leader, and Letitia James, the New York State attorney general. In the Hudson Valley, Didi Barrett, a six-term assemblywoman, turned back a challenge from Claire Cousin, 31, a mother of three who was backed by the Working Families Party.
Persons: Juan Ardila, Assemblywoman Stefani Zinerman, Eon Huntley, Zinerman, Hakeem Jeffries, Letitia James, Didi Barrett, Claire Cousin Organizations: State Assembly, Democratic Socialists of America, Democratic, New York, Working Families Party Locations: New York, Brooklyn, Buffalo, Queens, Bedford, Stuyvesant, New York State, Hudson
And AIPAC’s attacks have galvanized a concerted countercampaign by the left to try to discredit the group, which is bipartisan, among Democratic voters. Mr. Latimer ran up large margins in more moderate suburban communities, including ones with sizable Jewish populations. Mr. Bowman’s opponents churned out an unusually large amount of opposition research against him, including old blog posts dabbling in Sept. 11 conspiracy theories. Mr. Latimer returned to the episode repeatedly to argue that Mr. “He’s making the party look really bad,” said Sandra Altman, citing Mr. Bowman’s fire alarm episode and his left-leaning views, as she voted for Mr. Latimer in Scarsdale.
Persons: Jamaal Bowman, , Bowman, George Latimer, Dave Sanders, Israel, Marshall Wittmann, Bernie Sanders, Alexandria Ocasio, Cortez, Gregg Vigliotti, Bernie Sanders of, Ayanna Pressley, , Latimer, Cori Bush, Biden, , Bowman’s, Stephen Colbert, Cash Cobain, Ocasio, Sanders, Reagan, Paul Feiner, “ I’ve, he’s, ” Marsha Gordon, Ms, Gordon, “ Jamaal Bowman, Sandra Altman, “ He’s, ” Molly Longman Organizations: Democratic, Israel, Westchester County, AIPAC, The New York Times, American Israel Public Affairs Committee, ., The New York Times Left, Justice Democrats, Cortez of New York, Bernie Sanders of Vermont, Massachusetts, Jewish, Democratic Party, Mr Locations: York, New York City, Gaza, Westchester, Israel, New York, Bronx, Cortez of New, Mount Vernon, Missouri, Yonkers, Latimer, Scarsdale, , N.Y
Stanford professor on the future of banking regulation
  + stars: | 2024-06-26 | 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 EmailStanford professor on the future of banking regulationAnat Admati, George G.C. Parker professor of finance and economics at Stanford Graduate School of Business, joins 'Money Movers' to discuss the future of banking regulation.
Persons: Admati, George G.C, Parker Organizations: Stanford, Stanford Graduate School of Business
Atlanta selected Risacher from a muddled top tier that included Sarr, Connecticut center Donovan Clingan and wing Stephon Castle, and Kentucky guard Reed Sheppard. His team played in France’s top pro league and a second division of teams competing all across Europe. Saluan is 6-foot-9 and averaged 9.6 points and 4.0 rebounds playing for Cholet in France’s top pro league. For the first time, the NBA Draft is being held over two nights, with Round 1 happening Wednesday at the Barclays Center and Round 2 on Thursday. The Athletic has live coverage of the 2024 NBA Draft.
Persons: Zaccharie, Alex Sarr, Risacher, Victor Wembanyama, Adam Silver, Pacome Dadiet, ” Risacher, , C’est, Conn, Reed, ear,, urs, ade, Ris, ike V, win,, ike, Johns, Fran, Risa, Bo u, J ohn, olli, H, Pitts, Sal, eli, ober, teena, ees — Ris, feder, James ’ son,, ron, kel, cori Organizations: NBA, Atlanta Hawks, Bourg, Washington Wizards, Perth, Charlotte Hornets, New York Knicks, ntu, ust, rtl, , Ris, ntr Locations: Lyon, France, New York, Toulouse, French, Brooklyn, Antonio, laye, in Fr
Yet 16 Nobel Prize-winning economists are warning that Trump’s proposals wouldn’t just fail to fix inflation — they would make matters worse. “We the undersigned are deeply concerned about the risks of a second Trump administration for the US economy,” the economists wrote in the Tuesday letter, which was first reported by Axios. The letter, organized by famed economist Joseph Stiglitz, argued there are valid reasons to worry the Trump agenda will “reignite” inflation. Republican presidential candidate former President Donald Trump speaks at the Road to Majority conference in Washington, Saturday, June 22, 2024. Jae C. Hong/Pool/APIn the letter, the 16 Nobel economists expressed concern about the rule of law and stability if Trump wins the White House again.
Persons: Donald Trump, Trump, Axios, Joseph Stiglitz, Trump’s, Manuel Balce Ceneta, Joe Biden, , Stiglitz, , Biden, Jae C, “ Donald Trump, Robert Shiller, Paul Romer, George Akerlof, Janet Yellen, Biden’s, Joe, Donald Trump’s, ” Karoline Leavitt, don’t, Harry Enten, Moody’s Organizations: CNN, Peterson Institute, Oxford Economics, Allianz, Republican, AP Trump, Congressional, Federal Reserve, Trump, World Bank, Biden, ABC, Voters Locations: Washington, China, U.S, Mexico, Nogales, Ariz
The Supreme Court’s right-wing supermajority talks a lot about the importance of history and tradition in deciding cases. The decision, in Securities and Exchange Commission v. Jarkesy, struck down the S.E.C.’s use of in-house judges to bring enforcement actions against securities fraud. If the agency wants to go after securities fraud, it will have to go to federal court. When a lawsuit involves the protection of rights of the public generally, juries have never been required. Its impact will reach far beyond securities fraud, hamstringing similar tribunals in agencies responsible for the environment, public health, food and consumer safety, worker protections and much more.
Persons: , Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson Organizations: Securities, Exchange Commission
CNN —England secured top spot in Group C with a goalless draw against Slovenia on Tuesday, but another underwhelming performance throws up more questions about the Three Lions’ status as one of the Euro 2024 favorites. The team created few real chances of note and were again met by boos at full-time from traveling England fans. England, meanwhile, had been heavily criticized for two poor performances to open Euro 2024: a narrow 1-0 win over Serbia and a 1-1 draw with Denmark. Slovenia defender Erik Janza and England midfielder Jude Bellingham chatting during the match. England’s slight improvement in the second half, though, will likely have Southgate rethinking his starting lineup ahead of the last 16.
Persons: Gareth Southgate’s, Kobbie Mainoo, Cole Palmer, Jan Oblak, Saka, Phil Foden’s, Alex Caparros, Southgate, that’s, Conor Gallagher, Declan Rice, Trent Alexander, Arnold, Gallagher, Erik Janza, Jude Bellingham, Kirill Kudryavtsev, Rice, Foden, Oblak, Palmer, Harry Kane Organizations: CNN, England, Slovenia, Lions, Red, Whites, Denmark, Serbia, Manchester City, UEFA, Southgate, Manchester United, Chelsea, Getty Locations: Denmark, Serbia, England, Madrid, Slovenia, Manchester, AFP
CNN —After a series of mishaps, trucks of humanitarian aid are now beginning to roll onto the US military pier off the Gaza coast at a steadier pace. The US military says it is now moving about 800 pallets of humanitarian aid per day to Gaza via the temporary pier, or roughly 40 trucks. Humanitarian aid operations in Gaza have been severely hampered by an increase in Israeli military operations over the past month and humanitarian aid officials say lawlessness and looting are also on the rise. The Israeli military says it has been getting hundreds of aid trucks into Gaza recently, blaming humanitarian aid agencies’ lack of capacity for not picking up and distributing the aid. Pressed on criticism from humanitarian aid groups that the US’s $230-million effort would have been better spent pressuring Israel to get more aid into Gaza via land routes, Capt.
Persons: Leo Correa, Joe Biden, Israel, Joel Stewart, Organizations: CNN, Food, Army, Pentagon, Navy Locations: Gaza, Israeli, American
The highest-paid CEOs don't all lead the world's biggest companies. On Monday, C-Suite Comp published its list of the highest-paid CEOs of 2023 based on "total compensation granted," a measure that includes executives' salaries, bonuses, perks and stock options, among other factors. CEOs often receive restricted stock or options as a significant part of their compensation, the value of which can fluctuate based on the company's performance and market conditions. This new measure of executive earnings, dubbed "compensation actually paid" under SEC rules, is designed to help stakeholders better understand how executive pay aligns with the company's financial performance. Here's how much the U.S.'s best-paid CEOs are being awarded, as of 2023:
Organizations: Apple, Blackstone, Securities and Exchange Commission, SEC Locations: U.S
Read previewA US military cargo plane returned to a World War II airstrip on Saturday, a site in the Pacific region that Marines had to reclaim. "The landing of the C-130 on the resurfaced runway after many years hopefully begins a new chapter for a prosperous future of Peleliu island," Peleliu Governor Emais Roberts said in a United States Indo-Pacific Command press release. Hannah Hollerud/DVIDSThe aircraft's touchdown on the Peleliu airstrip epitomizes the US military's expanding footprint as it recognizes more bases may be needed to counter China's military build-up. Palau citizens would also be permitted to work, study, join the US military, and receive access to veteran healthcare. AdvertisementA U.S. Marine Corps KC-130J Super Hercules aircraft with 1st Marine Air Wing on June 22, 2024.
Persons: , Emais Roberts, Eugene Sledge, Lance Cpl, Hannah Hollerud, Joe Biden Organizations: Service, Marines, Pacific Command, Business, Imperial, Marine Corps, Palau, Marine, HBO, . Marine Corps KC, 1st Marine Air, Marshall, 1st Marine Air Wing Locations: Pacific, Peleliu, United States, Republic of Palau, Micronesia, Palau, Philippine, Tinian, Guam
New York is a closed primary state, meaning Democrats and Republicans can vote only in their own parties’ primaries. Bowman and Mr. Latimer may serve as harbingers of many political benchmarks. Mr. Latimer is largely supportive of Israel, calling for a return of all hostages before any potential cease-fire. Mr. Latimer has received $14.5 million in support from the American Israel Public Affairs Committee. It has also featured negative characterizations, with Mr. Latimer portraying Mr.
Persons: Jamaal Bowman, George Latimer, luminary, Bowman, Latimer, , Israel, Alexandria Ocasio, Cortez, Bernie Sanders of, Bowman’s, Nancy Goroff, Nick LaLota, John Avlon, Avlon, Margaret Hoover, Goroff, Avlon’s, Rudolph W, Giuliani, Goroff’s, Lee Zeldin, Cook, John W, Mannion, Sarah Klee Hood, Brandon Williams, Assemblywoman Stefani Zinerman, Eon Huntley, Zinerman, Hakeem Jeffries, Letitia James, Didi Barrett, Claire Cousin, Eddie Gibbs, Xavier Santiago, Gibbs, Grace Ashford, Jeffery C, Mays, Nicholas Fandos Organizations: Democratic, Congressional, Mr, Democratic Party’s, American Israel Public Affairs Committee, Republican, CNN, PBS, Republican Party, , an Air Force, New York, State Senate, Legislature, Progressives, Democratic Socialists of America Locations: New York, Westchester County, Long, Israel, Gaza, Cortez of New York, Bernie Sanders of Vermont, New, Sag Harbor, Suffolk County, Central New York, State, DeWitt, Bedford, Stuyvesant, Brooklyn, Hudson, East Harlem
A hard-won provision of the Affordable Care Act allows young adults to stay on their family’s insurance until age 26. But after that, those without employer-based insurance face an array of complicated choices, including whether to shop on the insurance plan exchanges, apply for Medicaid or roll the dice and go uninsured. Are you a young adult confused about navigating the exchanges used to pick plans? Have you married or taken a job just to get insurance? I’m a longtime health journalist who has worked at both The New York Times and KFF Health News, an independent news organization covering health policy.
Persons: I’m Organizations: Affordable, Medicaid, New York Times, KFF Health
The U.S. and Israeli defense chiefs, Lloyd J. Austin III and Yoav Gallant, at a December news conference in Tel Aviv. Mr. Gallant is meeting with Mr. Austin on his third day of talks with senior Biden administration officials. Mr. Gallant and Secretary of State Antony J. Blinken met in Washington on Monday. That was a recurring theme in American officials’ talks with Mr. Gallant this week. On Monday, Mr. Gallant met with William J. Burns, the C.I.A.
Persons: Lloyd J, Austin III, Yoav Gallant, Gallant’s, Patrick S, Ryder, Mr, Gallant, Austin, Benjamin Netanyahu, Israel, Matthew Miller, , Khan Younis, , Antony J, Blinken, Miller, , “ We’ve, General Ryder, Amos Hochstein, Hochstein, Netanyahu, William J, Burns, Jake Sullivan Organizations: U.S, Pentagon . Defense, Pentagon, Defense Department, Biden, American, State Department, Hamas, Mr, Lebanese, Israel Locations: Tel Aviv, Washington, Gaza, Lebanon, , Israel, Gen, United States, Rafah, Gaza City, Jerusalem, Beirut
Lara WalshBefore my appointment, my personal stylist, Kalyn, texted me directions to the changing room in the store's contemporary section. Lara WalshThere were also quite a few menswear-inspired work pieces, including jackets, trousers, and shirt dresses. My appointment at Saks felt a little more glamorousMy Saks appointment was at the department store's Fifth Avenue Club. In fact, two of my favorite pieces didn't jump out at me on the hanger and probably weren't things I would've chosen myself. AdvertisementOverall, I think the personal-styling appointments are great for those who want a wardrobe refresh but aren't sure where to start.
Persons: , Nordstrom, Lara Walsh, Kalyn, she'd, didn't, I'd, John, Lara Walsh John, who's, Carrie Bradshaw Organizations: Service, Business, Saks, Avenue Club
Sam C. Wilson played Blood in "House of the Dragon" season two. He told Business Insider he was "totally up for" Blood experiencing "epic amounts of torture" like in the book. Advertisement"House of the Dragon" actor Sam C. Wilson told Business Insider that he was "totally up for" his character Blood experiencing "epic amounts of torture" like he does in the book the show is based on. The final sequence of the episode sees two mercenaries, Blood (Wilson) and Cheese (Mark Stobbart) sneak into the Red Keep in King's Landing and brutally murder a Targaryen child. This story is available exclusively to Business Insider subscribers.
Persons: Sam C, Wilson, Cheese, , what's, Stobbart Organizations: Service, Business
Soon, he could well become prime minister if RN wins an absolute majority in the forthcoming parliamentary elections — and he's only 28. Bardella's rise from party spokesman in 2017 to party president over the course of five years is somewhat remarkable for a man who is only 28. Bardella excelled in economics and social sciences at a private college and joined National Rally — then known as the National Front — at the age of 16. Two years later, he became a Member of the European Parliament (MEP) before being made party president in 2022. Jordan Bardella, president of the National Rally, speaks to members of the media as he arrives at Medef in Paris, France, on Thursday, June 20, 2024.
Persons: Jordan Bardella, Julien De Rosa, Bardella, Denis, Joseph Downing, Pen, Jean, Luc Mélenchon, Frederic Chatillon, Le Pen, Le, , Critics, Francois Lo Presti, Macron, Holger Schmieding, Bardella's, Emmanuel Macron's Organizations: Afp, Getty, National, CNBC, National Rally, Paris Sorbonne University, London School of Economics, European Institute, National Assembly, Le, Palais des Sports, Nurphoto, cri, Union, NATO, Berenberg Bank, Popular, Bloomberg Locations: Paris, Villepinte, France, Bardella, Drancy, Paris suburb, Seine, Montmorency, Morocco, Henin, Beaumont, Ukraine, French, Medef
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