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☆ Grocery store employee sues Rudy Giuliani for $2 million, saying the ex-mayor lied to cops to put him in jail
▼ + stars: | 2023-05-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

"Plaintiff took a break from his work, walked up to Defendant Giuliani, patted or tapped him on the back, said 'what's up scumbag,' and walked away." Giuliani told police officers who arrived at the store that he wanted Gill to be arrested. He told police officers that Gill "hit" him and that he was in pain, according to the lawsuit. A security camera video shows that Gill patted Giuliani on the back. This is the second lawsuit filed against Giuliani this week.

☆ Ron Johnson insists he won't pocket $8.4 million from donors. But thanks to Ted Cruz, he could legally do exactly that.
▼ + stars: | 2023-05-17 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

That's due to a Supreme Court case won last year by Ted Cruz, who defended Johnson repaying himself. In October quarterly filings, Johnson's campaign declared that it was reinstating $8.4 million in loans, citing Ted Cruz vs. FEC. Furthermore, the door is now open for other self-funding candidates to demand payback of campaign loans that they had previously forgiven. And prior to Johnson telling Insider that he wouldn't seek a loan repayment, Cruz vociferously defended the hypothetical repayment. "It is perfectly reasonable that Ron Johnson, after 10 years of making an interest-free loan to the American people, can pay back his own money," Cruz added.

☆ U.S. households are hitting their own debt ceiling. Here's how you can avoid default
▼ + stars: | 2023-05-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Currently, the average household's credit card balance is $9,990, just $2,015 shy of where that tab hits its limit, the report found. High inflation is certainly contributing to Americans' high credit card balances, along with record-high interest rates, according to Ted Rossman, senior industry analyst at Bankrate. "We're seeing more people carrying credit card debt, too, often to finance day-to-day essentials." More than one-third also now have more credit card debt than emergency savings, which is the highest on record. "It's never too late to turn things around," Rossman said.

☆ Netflix ad tier has nearly 5 mln monthly active users
▼ + stars: | 2023-05-17 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

LOS ANGELES, May 17 (Reuters) - Netflix Inc's (NFLX.O) recently launched ad-supported tier reaches nearly 5 million active users per month, executives said on Wednesday in a pitch that emphasized the breadth of its programming to potential advertisers. On Wednesday, Netflix made its first presentation to advertisers at the annual ritual known as the upfronts, where networks aim to lock in ad commitments for upcoming shows. Jeremi Gorman, Netflix's president of worldwide advertising, said that global monthly active users had reached 5 million. Monthly active users count all adult profiles used on one account with ads. Netflix reported 232.5 million paying subscribers around the world as of the end of March.

This year, advertisers and ad agencies may well use the strike as a bargaining tool, said Erin Firneno, vice president of business intelligence for researcher Advertiser Perceptions. The writers’ strike, which has entered its third week, is also injecting a new element of uncertainty for ad buyers, at a time when television viewership is declining and the possibility of recession looms. While the TV networks have long contended with splintered viewership amid the rise of social media and streaming, the writers' strike puts content production at risk, said Rishad Tobaccowala, a former executive at advertising and public relations giant Publicis Groupe and advisor on business transformation. Last year, NBC’s upfront presentation emphasized star power as the network returned to a live event after a COVID-19-imposed hiatus. Ahead of the upfront presentations, media executives sought to reassure investors about the strike’s impact.

☆ Rudy Giuliani said he had 'a certain sexual attraction' to his 20-year-old employee and that he had kissed her on the lips, lawsuit claims
▼ + stars: | 2023-05-16 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

A civil lawsuit filed Monday accuses Rudy Giuliani of sexual assault against a former employee. The lawsuit claims Giuliani discussed fantasizing about a young staffer in a recorded conversation. Dunphy claimed Giuliani demanded she perform oral sex while he made calls on speaker phone, including to then-President Donald Trump. In one conversation in November 2019, Giuliani told Dunphy he was in love with three or four women and that he had "a certain sexual attraction to" his 20-year-old staffer Christianne Allen, the lawsuit claimed. Giuliani told Dunphy he had fantasized about Allen and kissed her on the lips but that he did not "consummate" the relationship, according to the lawsuit.

☆ A Century After His Birth, Richard Avedon Is More Relevant Than Ever
▼ + stars: | 2023-05-16 | by ( Ted Loos | Photographs Richard Avedon | ) www.wsj.com time to read: 1 min

In Richard Avedon’s over 60-year career behind the camera, he became the pre-eminent fashion photographer and then one of the most famous photographic portraitist in the world. More than 150 prominent figures have chosen a photograph they admire by Avedon, who died in 2004, for a large exhibition celebrating the centenary of the photographer’s birth. Avedon 100 is open through June 24 at Gagosian Gallery in New York.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

☆ Why Home Depot's weak outlook could be a warning sign for Target earnings
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Robyn Beck | AFP | Getty ImagesHome Depot and Target may sell very different kinds of merchandise. But the home improvement retailer's slashed forecast could be seen as a warning sign for the cheap chic retailer. On the other hand, Target, Walmart and other retailers that report in the coming weeks draw from a more representative pool of Americans. Discretionary spending fell year over year in the U.S., according to data from Circana, a market researcher formerly known as The NPD Group and IRI. Plus, Home Depot has some sector-specific advantages — even as mortgage rates rise — that could insulate it from some of the effects of lower discretionary spending.

☆ Donald Trump and Rudy Giuliani plotted to sell presidential pardons for $2 million a piece, former staffer says in lawsuit
▼ + stars: | 2023-05-16 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

On Monday, Rudy Giuliani was hit with a bombshell rape civil lawsuit filed by a former staffer. The staffer alleged in the suit that Giuliani asked if she knew anyone who wanted to buy a presidential pardon. The suit says Giuliani said he was selling them for $2 million, splitting the profit with Trump. As of 2022, the office has a backlog of more than 17,000 pending applications for pardons, Bloomberg reported. Compared to former President Barack Obama's more than 1,300 clemency grants, Trump pardoned or commuted the sentences of 240 people while in office.

☆ Gen Z is way behind on credit-card payments. It could get even worse when student-debt payments restart.
▼ + stars: | 2023-05-16 | by ( Jacob Zinkula | Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Gen Z is missing their credit-card payments at a rising rate. Their finances could get even worse when student-debt payments resume later this year. 36% of Gen Zers had student debt as of last June, with an average balance of $20,900. If young Americans are struggling to pay down their credit-card debt now, things could get even tougher when student-debt payments resume later this year after an over-three-year pause. "In fact, this is the only time since the New York Fed started tracking these figures in 2003 that credit-card balances did not fall from Q4 to Q1."

CNN —North Carolina’s Republican-led General Assembly moved Tuesday to ban most abortions after 12 weeks, voting to override a veto from Democratic Gov. The state House voted 72-48 along party lines hours after the state Senate voted 30-20 to do the same. A three-fifths vote in both chambers, where Republicans hold supermajorities, was needed to override the governor’s previous rejection of the measure. “We are going to have to kick it into an even higher gear when that veto stamp comes down. Cotham, who had campaigned in favor of abortion rights as a Democrat and sponsored legislation earlier in the legislative session to codify Roe v. Wade, was one of the Republicans who voted for the abortion ban.

☆ New: The Investigation of Ted Binion's Death
▼ + stars: | 2023-05-16 | 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 EmailNew: The Investigation of Ted Binion's Death"If we'd have a dead body in this neighborhood, you kinda know that something was up." On Blood & Money, we take you inside the story of rich casino mogul Ted Binion's death. Watch live Tuesday at 10pm ET on CNBC.

☆ Falling lumber prices and lower spending by DIY customers drags on Home Depot sales and stock price
▼ + stars: | 2023-05-16 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Sliding lumber prices and softer consumer demand hit sales at Home Depot in the first quarter. Framing lumber prices dropped 64% in a year, while sales for patio furniture and grills softened. Shares of Home Depot fell as much as 3.9% to an intraday low of $277.10, the weakest price since late October. Lumber prices have also dramatically come off highs hit during the COVID-19 pandemic. Comparable sales fell by 4.5% in the quarter ended April 30 and declined by 4.6% at US stores.

☆ OpenAI CEO wows lawmakers at closed dinner: 'Fantastic…forthcoming'
▼ + stars: | 2023-05-16 | by ( Lauren Feiner | ) www.cnbc.com time to read: +6 min

OpenAI CEO Sam Altman spoke to an engaged crowd of about 60 lawmakers at a dinner Monday about the advanced artificial technology his company produces and the challenges of regulating it. The wide-ranging discussion that lasted about two hours came ahead of Altman's first time testifying before Congress at a Senate Judiciary subcommittee on privacy and technology hearing on Tuesday. The dinner discussion comes at a peak moment for AI, which has thoroughly captured Congress' fascination. "There isn't any question where he pulls back on anything," she said, adding that lawmakers had very thoughtful things to ask. Khanna said the question of openness of the model is something he's discussed with Altman before, though not at Monday's dinner.

☆ New: Inside The Story of Ted Binion's Money
▼ + stars: | 2023-05-16 | 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 EmailNew: Inside The Story of Ted Binion's MoneyThe morning after casino mogul Ted Binion died, his lawyers conducted an inventory of his home. There should've been tens of thousands of dollars in the safes, but there was just one silver coin at the bottom. Watch Blood & Money for the full story Tuesday at 10pm ET on CNBC.

☆ Rudy Giuliani said he couldn't 'make love to Nancy Pelosi' if his life depended on it, lawsuit claims: 'I'd have to die'
▼ + stars: | 2023-05-16 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

A lawsuit against Rudy Giuliani claims he made lewd remarks about Nancy Pelosi and Hillary Clinton. The suit, which accuses Giuliani of sexual assault, also claims he made racist and homophobic comments. Among the women the lawsuit says he discussed in sexual terms were former Secretary of State Hillary Clinton, Rep. Nancy Pelosi, and Sen. Elizabeth Warren. "If my life depended on it, if I had to make love to Nancy Pelosi, I couldn't do it. The lawsuit claimed Giuliani also "demeaned and sexualized Hillary Clinton and mocked her body."

☆ Berkshire invests in Capital One, sheds Bank of NY Mellon
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Monday said it has begun investing in Capital One Financial Corp (COF.N) and no longer has a stake in Bank of New York Mellon Corp (BK.N). Berkshire made its disclosures in a regulatory filing listing its U.S.-listed stocks as of March 31. Capital One shares rose 5.3% in after-hours trading, following Berkshire's disclosure of an approximately $954 million stake in the bank. The filing does not identify which investments are Buffett's and which were made by his portfolio managers Todd Combs and Ted Weschler, though larger investments are usually Buffett's. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

The number of migrants caught crossing the border illegally since Title 42 ended on Friday dropped sharply from highs last week, U.S. Department of Homeland Security (DHS) official Blas Nunez-Neto said on a call with reporters. Nunez-Neto said migrants crossing illegally "now face tougher consequences at the border, including a minimum five-year bar on reentry and the potential to be criminally prosecuted if they try again." Title 42 allowed U.S. authorities to expel migrants to Mexico or other countries without the chance to request U.S. asylum. The Biden administration has also expanded legal pathways that allow more people to enter the U.S. without crossing illegally, including the CBP One appointments and applications available abroad for humanitarian parole and refugee status. The number of migrants caught crossing the U.S.-Mexico border illegally dropped to an average of 5,000 per day since Title 42 ended, down from daily highs of over 10,000 last week, Nunez-Neto said, cautioning that the situation "is very fluid."

☆ Frieze New York’s Intimate Art Fair Pops Up at the Shed
▼ + stars: | 2023-05-15 | by ( Ted Loos | ) www.nytimes.com time to read: 1 min

Temporary “pop-up” editions of retail stores and restaurants have proliferated in the past few years. And what is an art fair if not a specialized, group version of that idea? The 11th edition of the fair Frieze New York will pop up at the Shed in Hudson Yards this week, from Thursday to Sunday, and will feature 68 galleries. The trick for the fair is that New York is already an art-world hub with hundreds of art spaces throughout the city, and the Shed sits just a few blocks from the gallery-packed Chelsea neighborhood. As Frieze’s director of Americas, Christine Messineo, put it, “The mission for New York is, we know we have a really educated audience, so how do we show them things they might not come across on their own?”

☆ Berkshire invests in Capital One, sheds four stocks
▼ + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.

Garmin's Forerunner fitness trackers have long been one of the brand's most popular among serious runners. After dozens of technological generations and improvements over the years, the latest is the Forerunner 935. To truly put this advanced running watch to the test, we had competitive distance runner, Ted Westbrook, put the 935 through 1,000 cumulative miles of running. A mid-size watch with premium featuresThe Forerunner 935 is a mid-sized watch for the average man and a large watch for the average woman. Whether you're a competitive runner or just want to improve your fitness and cardio, the Garmin Forerunner 935 is a worthwhile investment.

☆ Why investors 'always misunderstand' the difficulty of regaining a loss, says advisor
▼ + stars: | 2023-05-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: 1 min

You may need to wait longer than you think to regain that loss. Yet, "investors always misunderstand this," said Ted Jenkin, a certified financial planner based in Atlanta and a member of CNBC's Financial Advisor Council. Its value declines to $8 — a 20% loss. The stock's value then rebounds by 20%. That 20% gain returns the stock's value to $9.60, not the original $10.

☆ Rudy Giuliani told an employee not to talk to the FBI and then asked for her help googling obstruction of justice, lawsuit says
▼ + stars: | 2023-05-15 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Rudy Giuliani told an employee not to talk to the FBI and delete her messages with him, according to a lawsuit. He then asked for her help "Googling information about obstruction of justice," the lawsuit says. According to the lawsuit, around May 2019, Giuliani told Dunphy to delete her messages with him. "You've got to be smart enough to know what I have just said," Giuliani told her, according to the lawsuit. "Giuliani asked Ms. Dunphy for help in Googling information about obstruction of justice, among other topics," the lawsuit says.

☆ Jason Sudeikis says he changed Ted Lasso character because of Donald Trump
▼ + stars: | 2023-05-15 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Ted Lasso is a nicer character because of Donald Trump. That’s according to star and creator Jason Sudeikis, who plays the loveable, folksy coach on the Apple TV+ series. Jason Sudeikis in "Ted Lasso," now streaming on Apple TV+. Sudeikis and some of the other members of the “Ted Lasso” cast recently visited President Joe Biden at the White House in March for a discussion about mental health. Not just getting to play the characters, but also, what do you want to put out there into the world?”The third season of “Ted Lasso” is currently streaming on Apple TV+.

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