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☆ Buyout firm L Catterton approaches Mattel with acquisition offer, Reuters sources say
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +2 min

The logo of US toy company Mattel is seen at the 72nd toy fair (Spielwarenmesse) in Nuremberg, southern Germany, on February 2, 2023. L Catterton, the private equity firm backed by luxury goods giant LVMH, has approached Mattel , the toy maker behind Barbie and Hot Wheels, with an acquisition offer, people familiar with the matter said on Monday. Hasbro also declined to comment, while L Catterton did not respond to a request for comment. Mattel shares jumped 20% to $19.49 following the Reuters report of the approach, giving the toy maker a market value of $6.5 billion. L Catterton, which has $34 billion in assets under management, has made more than 250 investments in consumer brands since its launch in 1989, according to its website.

Persons: Barbie, Catterton, El, Price, L, Bernard Arnault Organizations: Mattel, Hasbro, Capital, Fisher, American Girl, LVMH Locations: Nuremberg, Germany, El Segundo , California, American

☆ For LVMH, the Olympics Are Welcome, but Not Without Risk
▼ + stars: | 2024-07-21 | by ( Claire Moses | ) www.nytimes.com time to read: +1 min

Among the dozens of sponsors of this summer’s Olympic and Paralympic Games in Paris, one will be by far the most visible and influential: LVMH, the French luxury goods conglomerate. The company has invested 150 million euros ($163 million) in the 2024 Olympic Games, a gamble for a brand that has long marketed its goods to the upper echelons of society. Louis Vuitton created the trunk that carries the Olympic torch and the medal trays for the victory ceremonies. Mr. Arnault is the chairman of Loro Piana and the oldest son of Bernard Arnault, the chairman and chief executive of LVMH. “We decided that if we were going to do it, it was going to be new.

Persons: Louis Vuitton, Chaumet, Carine Roitfeld, ” Antoine Arnault, Arnault, Loro Piana, Bernard Arnault, “, Mr, ” Organizations: Paralympic Games, Eiffel, Games, The New York Times Locations: Paris, Marseille, LVMH

☆ Activist Starboard took a stake in Match. Here are steps the investor may take to help lift shares
▼ + stars: | 2024-07-20 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. On July 15, Starboard sent a letter to Match highlighting various opportunities to improve operations, financial results and capital allocation. Match's EBITDA margin of 36% may be high for an average company, but it's low for a company like Match. Starboard thinks that this is a highly valuable asset that may be well-suited to operate as a private company. Starboard is not the first activist to launch a public campaign at Match.

Persons: Russell, Bernard Kim's, Jeff Smith, Thomas McInerney, Smith, Elliott, Ken Squire Organizations: IAC, Altaba, Yahoo, Elliott Management, Anson, 13D

☆ Biden Administration Pauses Student Loan Payments Amid Legal Challenges
▼ + stars: | 2024-07-19 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

The Biden administration is pausing student loan payments for eight million borrowers enrolled in its new repayment plan, known as SAVE, after a federal appellate court issued a ruling temporarily blocking the program. “Borrowers enrolled in the SAVE plan will be placed in an interest-free forbearance while our administration continues to vigorously defend the SAVE plan in court,” Miguel Cardona, the secretary of education, said in a statement. “The Department will be providing regular updates to borrowers affected by these rulings in the coming days.”For now, borrowers are unable to apply to the SAVE repayment plan, and applications for other income-driven repayment plans are also unavailable. The U.S. Court of Appeals for the Eight Circuit, based in St. Louis, granted a request by Missouri and other Republican-led states for an administrative stay, which prevents the Biden administration from “implementing or acting pursuant” to the rule that created the SAVE program last summer, according to the court filing.

Persons: Biden, ” Miguel Cardona, Louis, ” Organizations: U.S, Appeals, Republican Locations: St, Missouri

☆ Bob Newhart, comedy legend and star of 'The Bob Newhart Show' and 'Elf,' dead at 94
▼ + stars: | 2024-07-18 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +9 min

Known for his comedic timing, the "Bob Newhart Show" and "Newhart" star was one of the funniest men of the 20th century. Breaking through into comedy in the '50sYoung Bob Newhart initially didn't consider comedy a career. Over the next 11 years, he released seven more albums, including "Bob Newhart Faces Bob Newart" (1964) and "Best of Bob Newhart" (1971). Bob Newhart during the first season of "The Bob Newhart Show," performing one of his popular telephone jokes. "The Bob Newhart Show" and "Newhart"Newhart on "The Bob Newhart Show."

Persons: —, Bob Newhart, Jerry Digney, Newhart, Bernard, Will Farrell, he'd, Young Bob Newhart, Gerald Smith, George Robert Newhart, James Thurber, Max Shulman, Fred Allen, Jack Benny, couldn't, Abraham Lincoln, Conan O'Brien, Abe Lincoln Vs, Dan Sorkin, Ed Sullivan, Bob Newart, Grace L, it's, Carol Burnett, Dean Martin, Sanford, Son, Bob Hartley, Roseanne, Variety, Gerald Ford, Dick Loudon, Ginnie, Rolling Stone, Cuoco, Monty Brinton, George, Leo, Bob, Arthur Jeffries, Sheldon Cooper, Sheldon fanboyed, Jeffries, Cooper, Proton, Sheldon, Virgina, Ginny, Quinn, Timothy, Jennifer, Courtney, Kirsten Acuna Organizations: Service, CBS, Business, Disney, Television Academy Foundation, NBC, NBCU, Getty Images, Television Academy, United States Army, Madison, ABC, Warner Bros . Records, AV, Getty, Warner Bros, Party, Ferguson, Peabody, Fox, Entertainment, Academy of Television Arts & Sciences Hall of Fame, Proton, Wars Locations: Oak Park , Illinois, Chicago, Vermont

☆ Here’s why people have fond memories of the Trump economy
▼ + stars: | 2024-07-16 | by ( Tami Luhby | Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —In 2018, Jonathan and Trista Schmier felt the economy was so strong that they could take a big risk. “The customers got very, very upset.”Trista and Jonathan Schmier felt confident enough about the economy during the Trump administration to open a small chain of restaurants. Poll after poll show that voters have more faith in Trump’s ability to handle the economy than President Joe Biden’s. By many measures, however, the economy under Biden — who took office while the pandemic was still underway — has also been strong. “I trust the other guy better,” said Southworth, 74, referring to Trump, whom he voted for in 2016 and 2020.

Persons: Jonathan, Trista Schmier, Angus, ”, Jonathan Schmier, ” Trista, Trump, Andrew Craft, Donald Trump, Joe Biden’s, Biden, Carroll Doherty, Doherty, Trump’s, Barack Obama, Biden —, —, Bernard Yaros, ’ paychecks, Jimmy Carter, ” Yaros, Yaros, Ted Southworth, Ted, Rebecca Southworth, Ted Southworth Southworth, Southworth, Becky Cantrell, Cantrell Organizations: CNN, Fayetteville Observer, USA, Pew Research Center, Biden, Black Americans, Census Bureau, Oxford Economics, Trump Locations: Burger, Fayetteville , North Carolina, Burlington , North Carolina, , Florida

☆ I ate at the Paris bistro that's now owned by the richest man in Europe. It has many critics, but one dish won me over.
▼ + stars: | 2024-07-15 | by ( Kasia Dietz | ) www.businessinsider.com time to read: +9 min

Read previewAs a local to Paris for 15 years, I've often passed by the red-checkered curtains of Chez L'Ami Louis. Either way, I was curious to try Chez L'Ami Louis and form my own impression. The prices were still a bit tough to swallowI'd been intimidated by the Chez L'Ami Louis prices before. I wish I'd saved more room for dessertThe chocolate cake at Chez L'Ami Louis was creamy and decadent. But as for me, I'd definitely recommend Chez L'Ami Louis to those looking for an authentic French bistro experience.

Persons: —, I've, Chez L'Ami Louis, It's, Bill Clinton, David Beckham, Francis Ford Coppola, Keanu Reeves, Brad Pitt, Bernard Arnault, Louis Vuitton, L'Ami Louis, Kasia Dietz, we'd, I'd, Louis, I'm, escargot, Arnault, Chez Organizations: Service, Haut Marais, Business, Chez, Michelin Locations: Paris, Haut, Bordeaux, Toronto

☆ A Fossil Mystery, Solved by a Spin
▼ + stars: | 2024-07-15 | by ( Jack Tamisiea | ) www.nytimes.com time to read: +8 min

A Fossil Mystery, Solved by a SpinEssexella fossils date back to the Carboniferous period, when northern parts of Illinois hovered just above the equator. Essexella fossils are composed of two structures — a textured, barrel-shaped region and a smooth bulb. “It looked like the bottom of an anemone,” Dr. Plotnick said. Dr. Plotnick, Dr. Hagadorn and their team redescribed Essexella as an ancient anemone last year in the journal Papers in Palaeontology. Dr. Plotnick posits that these animals once lined the floor of the Mazon Creek estuary.

Persons: Roy Plotnick, Francis Tully, Tully, ”, Essexella, Plotnick, James Hagadorn, I've, Marjorie Leggitt, Hagadorn, Edward Drinker Cope, Charles Marsh, couldn’t, De Agostini, Jean, Bernard Caron, Hallucigenia, ” Dr, Caron, Caron’s, Dr Organizations: University of Illinois, Denver Museum of Nature, Field Museum, Getty, Royal Ontario Museum Locations: University of Illinois Chicago, Illinois, Chicago, China, Burgess, Canada

☆ Activist investor Starboard says it's acquired 6.5% stake in Match Group
▼ + stars: | 2024-07-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Smith has been speaking with Match management about its plans, according to the letter, which was viewed by CNBC. In the letter, Smith wrote that Tinder enjoyed enviable and viral growth for years but has been stymied of late by sluggish innovation. But if Match is unable to more broadly turn around its business, the company should consider going private, Smith said. A Match spokesperson said in an emailed statement that the company is in communication with Starboard and other investors. Starboard isn't the first activist to put pressure on Match.

Persons: Jeff Smith, Starboard's Jeff Smith, Bernard Kim, Smith, Tinder, Kim, Anson, Elliott, Salesforce, Splunk Organizations: Bloomberg Television, CNBC, Wall Street, Zynga, Elliott Management, Autodesk, Cisco Locations: New York, U.S, Tinder, GoDaddy

☆ Rashida Jones followed her dad's advice not to 'wait in line' for a job. Career coaches say using family connections in the workplace is fine sometimes.
▼ + stars: | 2024-07-12 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

And then there's the resentment there too," Jones told InStyle. "But I think about it as, historically, people go into the family business more than they don't." Pulling your weight at workShould people be open about their family connections at work, then? "However, if you are involved in an objective recruitment process and keep talking about your family connections, it could be preserved that you are hoping for special treatment," she said. After all, family connections can only go so far.

Persons: —, Rashida Jones, she's, InStyle, Jones, Quincy Jones, Peggy Lipton, Hannah Salton, Salton, Allison Ching, Ching, Bernard Arnault's, Mukesh Ambani Organizations: Service, Business, Harvard, Hollywood, Reliance Industries Locations: Singapore

☆ BP shares drop 3% after warning of up to $2 billion impairment, weak refining margins
▼ + stars: | 2024-07-09 | by ( April Roach | ) www.cnbc.com time to read: +2 min

BP in 2020 set out its ambition to become a net zero company "by 2050 or sooner." BP shares dropped on Tuesday after the firm flagged it expects to post an impairment of up to $2 billion in the second quarter and warned of lower refining margins weighing on its results. BP shares were down 2.6% in early market trading at 08:39 a.m. London time. In a Tuesday statement, the company said it anticipates weak refining margins and oil trading performance will weigh on its second-quarter results, due out on 30 July. The energy firm also expects to record post-tax asset impairments and contract provisions in the range of $1 billon to $2 billion in the second quarter.

Persons: Biraj, Bernard Looney, Murray Auchincloss Organizations: BP, RBC, Shell Locations: London, Gelsenkirchen, Germany, Singapore, Rotterdam

☆ Keegan Bradley appointed surprise Ryder Cup captain after Tiger Woods turns down role
▼ + stars: | 2024-07-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

CNN —Keegan Bradley was unveiled as Team USA’s 2025 Ryder Cup captain on Monday, a surprise turn of events after Tiger Woods was widely tipped to assume the role. The Ryder Cup is unlike any other competition in our sport, and this edition will undoubtedly be particularly special given the rich history and enthusiastic spectators at this iconic course. “I am proud and excited to name Keegan Bradley as Captain of the 2025 United States Ryder Cup Team,” said Lindert. “Keegan’s past Ryder Cup experience, strong relationships and unwavering passion for this event will prove invaluable as he guides the U.S. Despite a positive 4-3-0 record at Ryder Cups as a player, Bradley has never tasted victory at the event.

Persons: CNN — Keegan Bradley, Tiger Woods, Bradley, Zach Johnson, Arnold Palmer, “, ”, Woods, LIV Golf, ” Woods, John Lindert, Keegan Bradley, Keegan, Ross Kinnaird, Justin Thomas, Johnson, Marco Simone Golf, Jeff Haynes, Tom Watson’s, Paul McGinley’s, Luke Donald, Bernard Gallacher, don’t, I’m, ” Donald Organizations: CNN, Ryder, Bethpage, United States Team, PGA of America, May’s PGA, PGA, The, America, U.S . Team, Captain, ”, Europe, Reuters Locations: Rome, Europe, Bethpage Black, Farmingdale , New York, Vermont, Bethpage, Paris, New York, Illinois, Gleneagles, Scotland

☆ How CEOs like Bernard Arnault and Tim Cook decorate their offices
▼ + stars: | 2024-07-07 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Read previewFrom priceless artwork to "Star Wars" memorabilia, you can tell a lot about a chief executive by how they decorate their office. Their high salaries, and even higher net worths, mean CEOs have the power to deck their workspaces out with more than everyday knickknacks. Here's how they decorate the spaces where they run their companies,AdvertisementBernard ArnaultLVMH CEO Bernard Arnault's office design matches the luxury empire her runs. ERIC PIERMONT/AFP/Getty ImagesWith a net worth of $201 billion, according to Bloomberg, LVMH top boss Bernard Arnault has very expensive taste. Tim CookApple CEO Tim Cook pays homage to Robert F. Kennedy with his office decor.

Persons: —, Mark Zuckerberg, Salesforce's Marc Benioff, Bernard Arnault, Bernard Arnault's, ERIC PIERMONT, Louis Vuitton, Dom Pérignon, Dior, Andy Warhol, Tim Cook, Robert F, Kennedy, Justin Sullivan, Jenny Chang, Rodriguez, Cook, Marc Benioff, Kevin Dietsch, Forbes, Benioff, Princess Leia, Darth Maul, Sully, Mark Zuckerberg Mark Zuckerberg, Jeff Bottari, Zuckerberg, didn't, We've, it's Organizations: Service, Business, Getty, Bloomberg, Eiffel, Apple, Auburn University, UFC, Facebook Locations: AFP, Paris, Alabama, Cupertino, mater, Hawaii, San Francisco, Las Vegas

☆ Critics roasted LVMH for spending big on Tiffany. 4 years later, the bet doesn't look so bad.
▼ + stars: | 2024-07-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

When luxury giant LVMH shelled out $15.8 billion for storied jewelry company Tiffany in 2021, it faced outsize expectations. On the luxury resale site The RealReal, Tiffany is the most-searched jewelry brand of 2024 so far. Meanwhile at Tiffany, LVMH is using a team of Cartier veterans. Growing pains have tarnished TiffanyBut reviving a luxury brand isn't easy, and investors have been murmuring that Tiffany's turnaround hasn't met expectations. "When you go into a Tiffany store, you're going to expect to have that amazing experience in customer service."

Persons: —, Blake Lively, Gabrielle Union, Hailey, Katy Perry, Tiffany, That's, haven't, Bernard Arnault, they're, Cartier, it's, — hasn't, Arnault, Abraham Lincoln, Mary Todd, Theodore Roosevelt, LVMH, Fflur Roberts, HSBC's Rambourg, Cindy Ord, Rambourg, Bernard Arnault's baguette, Euromonitor's Roberts, Bulgari, Jelena Sokolova, Morningstar, China —, Roberts, Jeremy Moeller, Vierig, It's, Van, Taylor Swift, Chiara Battistini, " Roberts, There's, Battistini, Audrey Hepburn, — it's, LVMH's Tiffany, Hailey Bieber, Taylor Hill, Sokolova, I'm Organizations: Service, Business, LVMH's, HSBC, Bloomberg, Getty, Cartier, Fifth, Nike, McKinsey Locations: Manhattan, China, Asia, Paris, Tiffany, influencers, LVMH's

☆ Tour de France: French cyclist Julien Bernard fined after stopping to kiss his wife
▼ + stars: | 2024-07-06 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —French cyclist Julien Bernard has offered a playful apology after he was fined for stopping to kiss his wife on Friday during a stage of the Tour de France. At one point, Bernard stopped briefly to kiss his wife, who was holding their child in her arms, as others on the roadside converged on them before parting to let Bernard through again. “I’d been waiting for this moment since the route was announced last October,” he told local newspaper Le Bien Public. Danish cyclist Magnus Cort replied to Bernard’s post on X with a video of himself kissing his wife by the roadside and quipped: “What a joke. “Oh no, no, no.”Bernard eventually finished 61st on the stage, 3:11 behind stage winner Remco Evenepoel.

Persons: Julien Bernard, “, ” Bernard, Georges, Gevrey, “ Allez, Bernard, “ I’d, ”, Magnus Cort, Lance Armstrong, Armstrong, Remco Evenepoel, CNN’s Eve Brennan Organizations: CNN, Tour de France, UCI, Le, de France Locations: French, Nuits, Burgundy, Le Bien, Danish

☆ Things to Take to College That You Can’t Buy at Target
▼ + stars: | 2024-07-04 | by ( Ron Lieber | Tara Siegel Bernard | ) www.nytimes.com time to read: 1 min

Extra-long sheets. The wall hooks and putty that hold things up but don’t leave marks. Most colleges provide a list of things that new students might bring if they’re living on campus, and most big-box stores stock all of it and then some. But there’s another list you may want to consider, containing things that aren’t at the end of any Target aisle or on anyone’s Amazon wish list. And how about some midnight pizza facilitation?

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

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

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

☆ Now we know how much it costs to make a $2,800 Dior bag
▼ + stars: | 2024-07-03 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Prosectors said these companies exploited workers to pump out bags for a small fraction of their store price. According to documents examined by authorities, Dior paid a supplier $57 to produce bags that retail for about $2,780, Reuters reported last month. Court documents showed that Dior, a subsidiary of LVMH, submitted a memo highlighting its supply chain improvements, the Wall Street Journal reported Tuesday. Advertisement"It's not something sporadic that concerns single production lots, but a generalized and consolidated manufacturing method," said court documents seen by Reuters about the decision to place Dior under administration. "The main problem is obviously people being mistreated: applying labour laws, so health and safety, hours, pay," Milan Court President Fabio Roia told Reuters earlier this year.

Persons: —, LVMH, Prosectors, Dior, Giorgio Armani, Armani, Fabio Roia, Bernard Arnault, Delphine Organizations: Service, Business, Reuters, LVMH, Wall Street, Bloomberg, Dior Locations: Milan, China

☆ Two luxury rivals are joining forces — and Amazon is getting in on the action
▼ + stars: | 2024-07-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

In a deal that shows just how hard things are getting in the luxury retail space, Saks Fifth Avenue's parent is purchasing rival department store company Neiman Marcus for $2.65 billion, The Wall Street Journal reported. Amazon — which has long tried to boost its luxury offerings as part of its "everything store" concept — and Salesforce are getting in on it, too, with both taking minority stakes in the new company, Saks Global. As e-commerce and the power of luxury conglomerates like LVMH and Kering have grown, department stores are facing diminishing returns. If not, rather than schlep back to the department store, why not go straight to the source, the Loewe boutique? It also makes the new company's leader — Marc Metrick, who runs Saks' e-commerce business — a natural choice.

Persons: Neiman Marcus, Taylor, Macy's, Bergdorf Goodman, Porter, Loewe, — Marc Metrick, Louis Vuitton, Gucci, Saint Laurent, Kering, Neimans, They've, Bernard Arnault's LVMH Organizations: Service, Saks Fifth, Street Journal, Saks Global, Loewe, Saks, Dior Locations: New York

☆ CDK Global says ‘substantially all’ dealers back online after crippling hack
▼ + stars: | 2024-07-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —CDK Global said “substantially all” of the nearly 15,000 car dealerships that use its software across North America are back online to its core management system, almost two weeks since a cyber incident caused a software blackout. “We are happy to report that we are ahead of the anticipated schedule,” an automated message on CDK’s customer care phone line said. The outage began on Wednesday, June 19, after two cyber incidents halted the company’s systems, which provide software to nearly 15,000 car dealerships across North America, according to CDK. Auto dealerships use CDK’s software to manage everything from scheduling to records. For days, CDK has said it had started restoring its software, but both car buyers and dealers remained at a standstill.

Persons: CDK, “ It’s, ” Bernard Irvin, Samantha Delouya Organizations: New, New York CNN, Auto, Anderson Economic, Ford, CNN Locations: New York, North America, Greenville , South Carolina

☆ A Major Part of Biden’s Student Loan Repayment Plan Is Restored
▼ + stars: | 2024-07-01 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Major components of President Biden’s student loan repayment plan can continue to operate as lawsuits challenging it wind through the legal system, a federal appellate court ruled on Sunday. That frees the administration to cut certain borrowers’ payments by as much as half, a benefit that had been previously scheduled but blocked. The order, from the U.S. Court of Appeals for the 10th Circuit in Denver, is the latest twist in a saga that began to unfold last week after two federal judges temporarily suspended parts of the plan known as SAVE. That program, which has about eight million enrollees, ties borrowers’ monthly payment amounts to their income and household size. The judge in Missouri blocked new debt cancellation through the SAVE program, though legal experts initially said it wasn’t clear how widely that ruling should be interpreted.

Persons: Biden’s Organizations: U.S ., Appeals, Circuit, Republican, SAVE Locations: Denver, Kansas, Missouri

☆ Bannon Reports to Federal Prison After Conviction for Defying Congress
▼ + stars: | 2024-07-01 | by ( Jesse Mckinley | Gaya Gupta | ) www.nytimes.com time to read: +1 min

With a defiant flurry of speechifying, Stephen K. Bannon, a longtime ally of former President Donald J. Trump, reported to prison on Monday to begin a four-month sentence for contempt of Congress, days after the Supreme Court rejected his last-ditch effort to avoid incarceration. Mr. Bannon arrived outside the federal lockup in Danbury, Conn. — a low-security facility about 60 miles north of Manhattan — before noon, and used his last moments of freedom to host a loud rally and live-streamed news conference, surrounded by supporters waving flags and ringing cowbells. Standing alongside Representative Marjorie Taylor Greene, the far-right congresswoman from Georgia, and Bernard B. Kerik, the former New York police commissioner who spent three years imprisoned on fraud charges, Mr. Bannon predicted big victories for Republicans in this year’s election. “Victory or death,” Mr. Bannon said, just before being blessed by a priest. “We either win or we’re going to have the death of a constitutional republic.”

Persons: Stephen K, Bannon, Donald J, Trump, —, Marjorie Taylor Greene, Bernard B, ” Mr, “, ” Organizations: New, Republicans Locations: Danbury, Conn, Manhattan, Georgia, New York, America

☆ Extended CDK outage brings chaos to car dealers
▼ + stars: | 2024-06-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —As the ongoing systems outage at software provider CDK Global stretches into its second week, car dealerships are racking up millions of dollars in losses, according to a new estimate. Piecemeal progressThe outage began last Wednesday after two cyber incidents halted the company’s systems, which provide software to nearly 15,000 car dealerships across North America, according to CDK. “I work at a major body shop, and it has really hurt us,” one worker wrote to CNN about the outage. “15,000 dealerships is an awful lot to have control over when you do the math,” Irvin said of CDK. And after more than a week at home, Phillips’ boss texted him to return to work on Friday.

Persons: “ It’s, ”, Bernard Irvin, “, ” ‘, Norm Phillips, hadn’t, ” Phillips, “ I’ve, CDK, Phillips, ” Phillips wasn’t, ” Irvin, Irvin, texted, “ I’m Organizations: CNN, CDK, Workers, Ford, Anderson Economic, Dealer, Benz, Honda, Ford Bronco Sport, Ford Bronco Locations: Greenville , South Carolina, North America, New Jersey

☆ My partner gifted me a dog that became like a child to us. When we broke up, custody of the dog got complicated.
▼ + stars: | 2024-06-29 | by ( Rashi Goel | ) www.businessinsider.com time to read: +5 min

But Mucho quickly became a loved and cherished member of our little family. AdvertisementMucho had ample room to play and relax inside the house, and he received abundant attention from my partner's family, who absolutely adored him. We started spending weekends at my partner's family home, blurring the lines between our live-in relationship and marriage. My partner argued that the dog wouldn't have come into our lives without his decision to get Mucho. He was more than just a pet; he was my dog child, whom I loved so deeply.

Persons: —, Mucho, Saint, Mucho's Organizations: Service, Business Locations: Saint Bernard

☆ Student Loan Payments Paused for 3 Million in SAVE Program
▼ + stars: | 2024-06-28 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Roughly three million borrowers with federal student loans will see their monthly payments paused in the coming days, as the Biden administration tries to recalculate their bills to comply with a federal court order in Kansas. The recalculations are necessary because key parts of President Biden’s new student loan repayment program, SAVE, were temporarily blocked by two federal judges on Monday, just a week before many borrowers’ payments were scheduled to be reduced by as much as half. The judges, in Kansas and Missouri, issued separate preliminary injunctions this week, leaving the SAVE plan’s eight million enrollees in limbo until lawsuits, filed in the spring by two groups of Republican-led states seeking to topple the program, are resolved. The Justice Department recently filed a request on behalf of the Education Department to stop the Kansas injunction. “If the injunction takes effect,” the filing said, “it will inflict irreparable harm on the federal government in the form of unrecoverable disruption costs and create extraordinary confusion and chaos for borrowers.”

Persons: Biden’s, ” Organizations: Biden, Republican, Justice Department, Education Department Locations: Kansas, Kansas and Missouri

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