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☆ Musk embraces Trump and scorns subsidies. But Tesla still lobbies for US benefits
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +5 min

Musk could "sacrifice some of the short-term interest in Tesla," Ward added, "if it'll satisfy the long-term interests of his ambitions." Musk and Tesla didn't respond to requests from Reuters for comment. The growing bond between Trump and Musk could be on display Monday night, when the Tesla boss is scheduled to interview the Republican candidate on X, Musk's social media platform. It's unclear exactly what ambitions Musk could seek to advance through his increasingly vocal rejection of progressive platforms – from EV subsidies to identity politics. A Reuters review of Congressional lobbying records – and Tesla's public comments to federal and state regulators – shows that the company has continued working to shape public policy in favor of such benefits.

Persons: Elon Musk, Samuel Corum, Donald Trump, Tesla, Biden, Trump, –, Elon, Mike Murphy, Andrew Ward, Ward, Musk, Gavin Newsom Organizations: Tesla Inc, Bloomberg, Getty, Tesla, Republican Party, Democratic Party, U.S . Environmental Protection Agency, Republican, Reuters, Lehigh University, Trump, Democratic, U.S . Department of Energy, U.S . Department of, Treasury Locations: Washington , DC, U.S, California, Los Angeles, EVs, Fremont , California

☆ The 2024 campaign will now turn on whether Trump can blunt Harris’ soaring start
▼ + stars: | 2024-08-12 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump’s campaign, which has whiffed in its early attacks on Kamala Harris’ new presidential campaign, will grapple this week for a more effective foothold after the vice president transformed an election of stunning surprises. On Sunday, for instance, he spread a new false conspiracy theory over the size of Harris’ rally crowd in Michigan last week. Trump’s campaign was also forced on Saturday to deny a report in The New York Times that he’d privately referred to Harris as a “b*tch” as he bemoaned her momentum. Therefore, a debate expected between Trump and Harris on ABC on September 10 looms as a pivotal new moment in the campaign. But as Trump has shown in recent days, he still hasn’t worked out a way to respond to the suddenly changed circumstances of the campaign.

Persons: Donald Trump’s, Kamala Harris ’, Harris, he’d, bullish, Tim Walz, Joe Biden, “, Biden, Trump, Biden administration’s, —, Harris ’, Elon Musk, Walz, ”, “ It’s, ” Trump, Sen, JD Vance, Vance, CNN’s Dana, ” Vance, Kamala Harris, Vance wriggled, Trump’s, Nick Fuentes, Usha, Fuentes, Donald Trump …, “ misspoke, there’s, she’s, hasn’t Organizations: CNN, The New York Times, Republican, bullish Republicans, Minnesota Gov, Trump, New York Times, Siena College, Democratic, San, Ohio Republican, GOP, Army National Guard, Congress, Union, CBS, Court, White, Minnesota, ABC, Fox Locations: Michigan, Montana, The, Siena, Wisconsin , Michigan, Pennsylvania, Chicago, North Carolina, San Francisco, Ohio, Iraq, “ State, “, America, Russia, China

☆ Bangladesh Puts Its Eggs in One Economic Basket. Now, a Reckoning.
▼ + stars: | 2024-08-10 | by ( Anupreeta Das | ) www.nytimes.com time to read: 1 min

Not long ago, Bangladesh was hailed as an economic miracle. Its singular focus on exporting textiles and apparel delivered rapid growth, lifting millions out of poverty and winning the country’s prime minister, Sheikh Hasina, fame and admiration. But Ms. Hasina’s abrupt exit from power this week has exposed the limitations of that strategy, as Bangladesh struggles to combat steep inflation and joblessness that economists say are largely the result of poor policy decisions. Her increasingly authoritarian rule and Bangladesh’s widespread corruption only added to the frustration that boiled over and forced her ouster. Student protesters who had called for Ms. Hasina’s resignation have brought in Muhammad Yunus, a Nobel laureate and microfinance pioneer, to oversee an interim government.

Persons: Sheikh Hasina, Hasina’s, Muhammad Yunus, Yunus Organizations: Student Locations: Bangladesh

☆ Everyone from Starbucks to Chinese giants wants in on the boba tea craze. Meet the family who says they started it all.
▼ + stars: | 2024-08-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +11 min

Chun Shui Tang founder Liu Han-chieh and managing director Angela Liu at one of their company's teahouses in Taichung. Chun Shui Tang's executives appear unperturbed by the many shapes and forms boba tea takes these days — Heinz ketchup boba tea, anyone? AdvertisementIn 2008, Chun Shui Tang introduced a boba tea hot pot with a savory tea-infused broth. Huileng Tan/Business InsiderChun Shui Tang OG shop in Taichung is a tourist hotspotToday, Liu's OG Chun Shui Tang teahouse in Taichung is on many tourists' checklists. Chun Shui Tang founder Liu said he isn't worried about the competition, because the market is big enough for everyone.

Persons: —, Chui, Chui Shui Tang, Chun Shui Tang, Liu Han, Liu, It's, Lin Hsiu, Chun, Huileng Tan, Lin, Angela —, doesn't, he's, Tang, He's, boba, Tu, Liu's, Angela, Chun Shui, Angela Liu, Heinz, they've, Liu wasn't, Mark Anthony Villones, Villones, Filippino Mark Anthony Villones, Kayne Sy, China Chun Shui Tang, Jason Yu, Kantar, Aly Song, Yu, it's Organizations: Service, Business, Chun Shui, Starbucks, Purdue University, Chun Shui Tang, Liu's, BI Locations: Chui Shui, Taiwan, Taichung, Japan, Tainan, China, Huileng, —, Philippines, Central China, Hong Kong

☆ Bangladesh protesters expect interim government to be finalized on Wednesday
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

Bangladesh's protest leaders said they expect members of an interim government, led by Nobel laureate Muhammad Yunus, to be finalized on Wednesday after Prime Minister Sheikh Hasina quit and fled to India following a violent crackdown on a student-led uprising. "It is critical that trust in government be restored quickly," Yunus, 84, told the Financial Times on Wednesday, saying he was not seeking an elected role or appointment beyond the interim period. His spokesperson said he is expected to return to Dhaka on Thursday after a medical procedure in Paris. "We need calm, we need a road map to new elections and we need to get to work to prepare for new leadership," Yunus told the newspaper. "In the coming days, I will talk with all of the relevant parties about how we can work together to rebuild Bangladesh and how they can help."

Persons: Muhammad Yunus, Charles de Gaulle, Sheikh Hasina, Nobel, Yunus, Hasina's Organizations: French, Financial Times, Bangladesh Bank Locations: Roissy, Paris, Bangladesh, India, Dhaka

☆ Disney falls on concerns about its theme park business. Here's why we'd buy the stock
▼ + stars: | 2024-08-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Shares of Disney fell Wednesday as concerns about attendance at its theme parks overshadowed streaming profits and better-than-expected headline results. The combined streaming business — encompassing Disney+, Hulu and ESPN+ — turned in its first-ever quarterly profit slightly ahead of schedule. Then, about two weeks ago, CNBC parent Comcast issued weak April-to-June results for its Universal theme parks business, which weighed on Disney's stock in that session . And, at this point, getting to profitability in the combined streaming business, which adds ESPN+ into the mix, was the biggest focus. "So, I do believe the parks business is in fundamentally good shape.

Persons: LSEG, —, Jim Cramer, Jim, we're, Hugh Johnston, Johnston, Disney, Bob Iger, Jim Cramer's, Walt, Gary Hershorn Organizations: Disney, Revenue, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Hulu, CNBC, PepsiCo, Wall Street, ABC Network, Geographic, Management, Magic, Walt Disney World, Corbis, Getty Locations: U.S, India, Orlando , Florida

The president of Bangladesh on Tuesday appointed Muhammad Yunus, a pioneer in microfinance who is a Nobel laureate, to oversee an interim government, accommodating demands by protesters and offering a reprieve for a country scarred by violence. The announcement from the main coordinator of the protests, Nahid Islam, came a day after Bangladesh’s authoritarian leader, Sheikh Hasina, resigned and fled the country amid a popular uprising. Mr. Islam was among a group of military officials and others present at a meeting with the president on Tuesday. Mr. Yunus, 84, is expected to lead a temporary government now that the Bangladeshi Parliament has been dissolved. Mr. Yunus, who is widely admired in Bangladesh and once made a brief foray into politics, has two immediate tasks.

Persons: Muhammad Yunus, Nahid, Sheikh Hasina, Islam, Mr, Yunus Organizations: Mr Locations: Bangladesh, Nahid Islam

☆ Harris hands progressives a major victory by selecting Gov. Tim Walz as her VP
▼ + stars: | 2024-08-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Shapiro, despite having the backing of some unions in his state, alienated progressives over his past support for school vouchers. Under Walz, Minnesota has passed universal free school lunches and universal background checks on firearms. AdvertisementLike Vance, Walz served in the military. Vance, who could be the nation's first millennial vice president, has served just roughly 18 months in the US Senate. Walz served six terms in Congress before running for governor.

Persons: —, Kamala Harris doesn't, Harris, Tim Walz, Joe Biden, Josh Shapiro, Sen, Mark Kelly of Arizona, Shapiro, Benjamin Netanyahu, Kelly . Shapiro, Kelly, Walz, Donald Trump, JD Vance, It's, Bernie Sanders, Sanders, Vance doesn't, Vance Organizations: Service, Minnesota Gov, Business, Israeli, Ku Klux, Democrats, Minnesota Democrat, NRA, Minnesota Public, MSNBC, Ohio Republican, Democratic Locations: Pennsylvania, Gaza, Minnesota, Ohio, Walz , Minnesota, Vermont, Arizona, Nebraska, America, Philadelphia

☆ Bangladesh Protesters Want Nobel Laureate to Advise New Government
▼ + stars: | 2024-08-06 | by ( Qasim Nauman | ) www.nytimes.com time to read: +1 min

A day after Prime Minister Sheikh Hasina of Bangladesh dramatically resigned and fled the country, the student groups that led the popular uprising against her proposed a notable name to help lead the interim government: Muhammad Yunus, a microfinance pioneer who received the Nobel Peace Prize. Mr. Yunus, one of Bangladesh’s best-known citizens, was among those Ms. Hasina considered a political threat for years, her critics say. Now, those who ousted her want Mr. Yunus, 84, to hold one of the most powerful positions in the new government. “We have decided that an interim government should be formed with Nobel laureate Dr. Muhammad Yunus as the chief adviser,” Nahid Islam, one of the student leaders, said on Tuesday morning. The country’s powerful military and other political parties will also have a say.

Persons: Sheikh Hasina, Muhammad Yunus, Mr, Yunus, Hasina, ”, Dr Locations: Bangladesh

☆ Our bend-don't-break economy is reaching its limit
▼ + stars: | 2024-08-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, interest-rate cuts are almost certainly coming, but the relief won't be felt immediately . The big storyCrash landingKevin Dietsch/Getty, Tyler Le/BIOur bend-don't-break economy might finally have reached its limit. After a year of resiliency in the face of high interest rates, the cracks are showing in the US economy. But it's not a silver bullet, and the rate cut's effect will take time to make its way through the economy.

Persons: —, Kevin Dietsch, Tyler Le, it's, Chelsea Jia Feng, Claudia Sahm, Madison Hoff, McDonald's, Jared Siskin, Bobby, Jordan Grumet, Justin Best, Brian Stauffer, Michal Kosinski, Rob Price, sompong, Seng kui Lim, Getty, Joe Biden's, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Relief, Getty, Fed, Amazon, Big Tech, Madison, Park Conservancy, Citadel, FIRE, Union Square Advisors, Nvidia, America Locations: resiliency, Central, Switzerland, Canada, Park, Paris, New York, London

☆ Paging Dr. Beat! The history behind budots and TikTok’s latest dance trend
▼ + stars: | 2024-08-04 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +6 min

Emergency!”If you’re up on the latest TikTok dance trends, you may have heard this refrain looped over a wobbly electronic bassline punctuated by high-pitched noises. Beat,” belongs to a Filipino electronic dance music subgenre called budots. It first emerged as a dance and was associated early on with youth drug culture, per Fritz Flores, who wrote an undergraduate thesis on the dance craze. Some scholars have also linked budots dance moves to art forms of the indigenous Badjao people. Though the initial TikTok craze was divorced from the history of budots and its signature dance moves, it also spawned a spinoff trend in which those in the know demonstrated the proper way to dance budots — shining a spotlight on a slice of Filipino culture.

Persons: Kamala Harris, Olivia Rodrigo, DJ Johnrey, ”, budots, Budots, Fritz Flores, Sherwin Calumpang Tuna, Love —, —, Dominic Zinampan, Flores, Ruben Gonzaga, Gonzaga, Mo, Jessica Soho ”, Rodrigo Duterte —, BuwanBuwan, Duterte, Ramon “ Bong ” Revilla, ” Jay Rosas, “, DJ Love, John Dela Cruz, John, Michi Kollette Organizations: CNN, Davao City —, Philippines ’ Senate, VICE Locations: Philippines, Davao City, Philippine, Mindanao, Davao City’s, Budots, Davao, ”

☆ With a fire burning just miles away, residents of a Washington town dig in
▼ + stars: | 2024-08-02 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +5 min

“There’s a lot of mistrust going on there.”As fire behavior grows intense because of climate change and overgrown forests, doubts can fester in rural communities as fire managers operate more conservatively than in the past. “Now, we’re seeing fires act more radically, make their own weather and be more unpredictable.”This dynamic is playing out in rural communities elsewhere. Stasiewicz said that based on her own focus groups, surveys and interviews, sentiments like Courtney’s are becoming more common in rural communities. Evacuation often carries a stiff financial cost, she said, and some rural residents worry their properties won’t be prioritized. “We can sometimes see rural communities lose compared to more developed areas.

Persons: we’ve, ”, Amanda Stasiewicz, “, ” Stasiewicz, they’d, Brad Bramlett, ’ ” Courtney, Courtney, Johnston, Magnussen, Stehekin, Stasiewicz Organizations: University of Oregon, “, San Francisco Chronicle, National Interagency Fire Center, National Weather Service, ”, Tourists Locations: West, Northern California, Pacific, Oregon , Washington and Idaho, Lake Chelan, North, Stehekin, U.S

☆ Exxon earnings beat as production in Guyana and Permian sets a record
▼ + stars: | 2024-08-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

ExxonMobil on Friday posted its second highest results for the second quarter in the past decade, as the company achieved record production in Guyana and the Permian Basin. Exxon shares rose more than 1% before the market opened. Revenue rose to $93.06 billion from $82.91 billion a year ago, which was enough to top analysts estimates of $90.99 billion, according to LSEG. Production grew by 15%, or 574,000 barrels per day, to 4.4 million barrels per day from the first quarter, driven by records in Guyana and the Permian. Exxon shares have rise nearly 17% since the start of 2024.

Organizations: Exxon Mobil, Washington , D.C, ExxonMobil, Exxon, LSEG, Natural Resources Locations: Washington ,, Guyana, Capital

☆ Jim Cramer's top 10 things to watch in Friday's rough stock market
▼ + stars: | 2024-08-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club stocks Broadcom was down and Advanced Micro Devices was actually up. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Apple, Hess, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Amazon, Intel, Apple, Nvidia, Broadcom, Devices, Coterra Energy, Exxon, Club, Natural Resources, Chevron, Revenue, Jim Cramer's Charitable, CNBC Locations: U.S, Central, Guyana, Texas, California

☆ JD Vance Pioneered ‘New Right’ Economics. Trump May Not Embrace It.
▼ + stars: | 2024-08-02 | by ( Jim Tankersley | Andrew Duehren | ) www.nytimes.com time to read: +1 min

Senator JD Vance of Ohio, the Republican vice-presidential nominee, is a pioneer in what friends and critics alike call a new form of Republican economic thinking. It’s a vision to steer the economy toward advancing socially conservative goals, even when those policies defy conservative orthodoxy about government intervention in private markets. Mr. Vance has built his brief political career on that new brand of economic populism. He has championed efforts to reward families for having children, with tax breaks that some Republican economists say discourage people from working. “He’s a social conservative first,” said Michael R. Strain, an economist at the conservative American Enterprise Institute in Washington who has known Mr. Vance and discussed policy with him for years, well before he decided to enter politics.

Persons: JD Vance, Ohio, Vance, ”, Michael R Organizations: Republican, American Enterprise Institute Locations: Washington

☆ The Fallout from Venezuela’s Election
▼ + stars: | 2024-07-31 | by ( Julie Turkewitz | ) www.nytimes.com time to read: +1 min

After a vote on Sunday, its authoritarian leader, Nicolás Maduro, claimed victory in his re-election campaign. But few believe he truly won, and he has not produced a vote count that verifies the result. The opposition says its candidate scored at least 3.9 million more votes than Maduro did. That migration has strained not only Venezuela’s neighbors but even the United States, where the presidential election turns partly on a spike in immigration in recent years. I’ve been covering the country since 2019, including the mass exodus of frustrated Venezuelans.

Persons: Nicolás Maduro, Maduro, you’ve, Hugo Chávez Organizations: United Nations Locations: Venezuela, Caracas, United, U.S, United States

☆ Boeing names new CEO after losses more than triple
▼ + stars: | 2024-07-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Boeing announced Robert “Kelly” Ortberg, the former CEO of supplier Rockwell Collins, will be its new CEO, effective August 8, replacing retiring Boeing CEO Dave Calhoun, who has been under fire for the company’s problems. Serious problems to solveOrtberg will have his hands full fixing the problems at Boeing, which has not posted a profitable year since 2019. It recently agreed to plead guilty to charges that its employees defrauded the Federal Aviation Administration during the original certification process for the 737 Max. The company has come under renewed scrutiny since a 737 Max plane’s door plug blew off shortly after takeoff in January. But that will keep the losses building at Boeing as it can’t make money at its current level of production.

Persons: Robert “ Kelly ” Ortberg, Rockwell Collins, Dave Calhoun, Ortberg, I’m, ”, ” Ortberg, Dennis Muilenburg, “ Kelly, Steven Mollenkopf, ” Rockwell Collins, Max Organizations: New, New York CNN, Boeing, Texas Instruments, United Technologies, Collins Aerospace, Federal Aviation Administration, FAA, Air Force Locations: New York

☆ New Vanguard CEO says improving customer experience is a 'very high' priority and AI could help
▼ + stars: | 2024-07-29 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The new CEO at Vanguard said Monday that the asset management giant could lean on artificial intelligence as it looks to improve its customer service experience. Vanguard, which built its reputation as a low-cost and investor-friendly brokerage firm, has seen criticism about its customer service in recent years. Difficulty in reaching a Vanguard representative on the phone is one common complaint seen in online forums. CEO Salim Ramji told CNBC's Bob Pisani on Monday that fixing the customer experience is "very high on my list of priorities" and that artificial intelligence looks like a promising avenue for help. Ramji comes to Vanguard from rival BlackRock, making him the first outsider CEO for the roughly $9 trillion asset manager.

Persons: Salim Ramji, CNBC's Bob Pisani, Ramji, Jack Bogle Organizations: Vanguard, BlackRock Locations: Malvern , Pennsylvania

☆ Venus atmosphere shows potential signs of life — again
▼ + stars: | 2024-07-29 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

“We’re a long way from saying this, but if there is life on Venus producing phosphine, we have no idea why it’s producing it. So finding them in the atmosphere of Venus is interesting on that basis as well. But further analysis of that data by Clements’ team revealed weak traces of the molecule, reinforcing the theory. “To date, our analyses remain unchallenged in the literature,” said Mogul, who was not involved in the research of Clements’ team. While detecting phosphine and ammonia in Venus’ clouds is exciting, it is just the beginning of a longer journey to unravel the mysteries of that planet’s atmosphere, he said.

Persons: James, Maxwell, “ There’s, ”, Dave Clements, “, we’ve, Clements, ” Clements, Venus, Clements ’, Rakesh Mogul, Jane Greaves, NASA's, ” Greaves, Greaves, Javier Martin, Torres, Martín, Kate Pattle, ” Pattle, Pattle Organizations: CNN, Astronomical Society, Imperial College London, NASA, JPL, Caltech, Saturn, Venus, Telescope, California State Polytechnic University, ” Mogul, Cardiff University, Green Bank, Royal Astronomical Society, European Space Agency, University of Aberdeen, University College London Locations: Hull, England, Hawaii, SOFIA, ALMA, Pomona, United Kingdom, West Virginia

☆ Why Elon Musk Is Supporting Donald Trump: to Save Tesla From Disaster
▼ + stars: | 2024-07-28 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

As market competition heated up, Tesla started cutting prices, which turned into an industrywide price war that Tesla isn't winning. It's a steep fall, considering Tesla's share of the EV market used to be as high as 80%. Critics balked, but Musk assured the Tesla community that this was the only strategy to save the company. Musk is looking for ways to buy time for Tesla — and one of those ways is to get Trump elected. Preserving Tesla's market position is imperative until he can conjure another product that people are excited to buy.

Persons: Elon Musk, Donald Trump —, Tesla, Trump, Joe Biden's, Kelley Blue, Musk, Ford, —, Critics, shouldn't, ZEV, Steve Granitz, Vaibhav Taneja, China's, Elon — Organizations: Elon, Trump, Tesla, White, EV, GM, Getty Images Trump, PAC Locations: China, USA, Shanghai

☆ What JD Vance's rise tells us about the influence of Peter Thiel — and Silicon Valley in the age of Donald Trump
▼ + stars: | 2024-07-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +12 min

Without Peter Thiel, Vance does not get anywhere near the US Senate. And in Silicon Valley, the conservative movement is much stronger, and more muscular than it was before. AdvertisementThere's this narrative, promoted by people like Thiel, that Silicon Valley is super-liberal. Because Silicon Valley has conservative roots in addition to roots in the counterculture. AdvertisementLike I said, the liberal nature of Silicon Valley has always been sort of overplayed.

Persons: —, I'm, Donald Trump, Vance, Peter Thiel —, Max Chafkin, who's, Thiel, Peter Thiel's, Trump, JD Vance, Narya, It's, supercharge, Bill Pugliano, David Sacks, Peter Thiel, revel, that's, he's, Elon Musk, Marc Andreessen, They're, Elon Musk's, Apu Gomes, Steve Jobs, Ben Horowitz Organizations: Service, Republican, Trump, Business, Bloomberg Businessweek, Republican National Convention, YouTube, Ohio Senate, The, Thiel, Twitter Locations: Silicon Valley, Mithril, Narya, Ohio, West Coast, —, America, Silicon, San Francisco

☆ Red Lobster may soon have a new owner
▼ + stars: | 2024-07-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Two months after filing for bankruptcy, Red Lobster is close to emerging with a new owner. Fortress is one of Red Lobster’s largest lenders and has financed the restaurant chain’s operations, including a new $100 million loan that allowed Red Lobster to stay afloat during its bankruptcy proceedings. Red Lobster has closed around 100 restaurants in recent months and has said it wants to close several dozen more locations. Mismanagement, competition, inflation and other factors brought down Red Lobster, which has been a pioneer in the restaurant industry. Red Lobster cut costs, removed longtime suppliers and implemented strategies that backfired, such as making $20 endless shrimp a permanent menu item.

Persons: Krystal, Logan’s Organizations: New, New York CNN, Fortress Credit Corp, Thai Union’s, CNN, Thai Union, Union Locations: New York, Thai Union, Thai

☆ John Mayall, influential Blues musician, has died at 90
▼ + stars: | 2024-07-23 | by ( Dan Heching | Dalia Faheid | ) edition.cnn.com time to read: +3 min

CNN —John Mayall, a pioneering Blues musician who was recently announced as a 2024 inductee into the Rock & Roll Hall of Fame, has died. “It is with heavy hearts that we bear the news that John Mayall passed away peacefully in his California home yesterday, July 22, 2024, surrounded by loving family. John Mayall gave us ninety years of tireless efforts to educate, inspire and entertain,” the message said. Called “the godfather of British blues” by the Rock & Roll Hall of Fame, the singer-songwriter, multi-instrumentalist and bandleader was a pioneer of Blues music in England during the 1960s. Mayall was inducted into the Blues Hall of Fame in 2016.

Persons: CNN — John Mayall, Mayall’s, John Mayall, John, Queen Elizabeth II, Mayall, “, ”, Eric Clapton, Joe Walsh, Steve Van Zandt, Alex Lifeson, Peter Green, Mick Taylor, Jack Bruce, John McVie, Mick Fleetwood, Aynsley Dunbar – Mayall Organizations: CNN, Roll Hall of Fame, Blues, Blues Hall of Fame, Hall of Fame, of Fame, Facebook Locations: California, England, British, Cheshire, Los Angeles, United States, Europe

☆ John Mayall, Pioneer of British Blues, Is Dead at 90
▼ + stars: | 2024-07-23 | by ( Larry Rohter | ) www.nytimes.com time to read: 1 min

John Mayall, the pioneering British bandleader whose mid-1960s blues ensembles served as incubators for some of the biggest stars of rock’s golden era, died on Monday. The death was confirmed in a statement on Mr. Mayall’s official Facebook page. The statement did not give a cause or specify where he died, saying only that he died “in his California home.”Though he played piano, organ, guitar and harmonica and sang lead vocals in his own bands with a high, reedy tenor, Mr. Mayall earned his reputation as “the godfather of British blues” not for his own playing or singing but for recruiting and polishing the talents of one gifted young lead guitarist after another.

Persons: John Mayall, “, Mr, Mayall Locations: California

☆ Harris fundraiser in Provincetown raises more than $2 million, organizers say
▼ + stars: | 2024-07-20 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +4 min

CNN —Defending Joe Biden and ripping into Donald Trump, Kamala Harris got one of her most roaring responses in years as she spoke at a fundraiser Saturday afternoon in Provincetown, Massachusetts. But we are a group of people who understand anything worthwhile takes a lot of hard work,” Harris said. It takes believing in something and then going forward.”The event was scheduled weeks ago, in very different political circumstances. Transportation Secretary Pete Buttigieg, who is seen by some leading Democrats as a potential running mate should Harris become the nominee, spoke before she did. “Harvey Milk liked to say, ‘Hope will never be silent — and neither will we,’” Harris said.

Persons: Joe Biden, Donald Trump, Kamala Harris, didn’t, —, ”, “ It’s, ” Harris, Harris, Harris ’, “, Kamala, Harris —, Pete Buttigieg, Buttigieg, Biden, ” Buttigieg, Trump’s, JD Vance, Harvey Milk, “ Harvey Milk, ‘ Hope, ’ ” Harris, CNN’s Samantha Waldenberg Organizations: CNN, Transportation, Air Force, San Locations: Provincetown , Massachusetts, San Francisco

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